Marsh & McLennan Companies, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Marsh & McLennan Companies, Inc. filed its Q1 2024 10-Q, detailing financial performance and segment data.</b>

AI Summary

MARSH & MCLENNAN COMPANIES, INC. (MRSH) filed a Quarterly Report (10-Q) with the SEC on April 18, 2024. Marsh & McLennan Companies, Inc. filed a 10-Q report on April 18, 2024, for the period ending March 31, 2024. The filing covers financial data for the first quarter of 2024. Key financial statement components like common stock, additional paid-in capital, retained earnings, and accumulated other comprehensive income are detailed. The report includes segment information, specifically for the Risk and Insurance Services segment in EMEA and Asia Pacific. Financial data from previous periods, including Q1 2023 and fiscal years 2023 and 2022, are provided for comparison.

Why It Matters

For investors and stakeholders tracking MARSH & MCLENNAN COMPANIES, INC., this filing contains several important signals. This 10-Q filing provides investors with a detailed look at Marsh & McLennan's financial health and operational performance during the first quarter of 2024. The inclusion of comparative data from prior periods allows for trend analysis and assessment of the company's financial trajectory.

Risk Assessment

Risk Level: low — MARSH & MCLENNAN COMPANIES, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not indicate any unusual or high-risk events.

Analyst Insight

Monitor future filings for revenue growth and profitability trends within the Risk and Insurance Services segment.

Key Numbers

• 2024-03-31 — Period of Report (Quarterly report)
• 2024-04-18 — Filed As Of Date (10-Q filing)
• 2024-01-01 — Quarter Start Date (Q1 2024)
• 2023-01-01 — Prior Year Quarter Start Date (Q1 2023)

Key Players & Entities

• MARSH & MCLENNAN COMPANIES, INC. (company) — Filer name
• 2024-03-31 (date) — Period of report
• 2024-04-18 (date) — Filing date
• New York (location) — Business address city
• DE (location) — State of incorporation

FAQ

Industry Context

Marsh & McLennan Companies, Inc. operates in the insurance agents, brokers, and services industry.

Regulatory Implications

The filing is a standard 10-Q report under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the full 10-Q for detailed financial statements and management's discussion.
2. Analyze segment performance for Risk and Insurance Services in EMEA and Asia Pacific.
3. Compare Q1 2024 results with Q1 2023 and full-year 2023 data.

Key Dates

• 2024-03-31: End of Reporting Period — Covers Q1 2024 financial data.
• 2024-04-18: Filing Date — Official submission date of the 10-Q.

Year-Over-Year Comparison

This filing provides the standard quarterly update for Q1 2024, including comparative data from prior periods.

Key Financial Figures

• $1.00 — ich registered Common Stock, par value $1.00 per share MMC New York Stock Exchange

Filing Documents

• mmc-20240331.htm (10-Q) — 1565KB
• mmc0331202410qex_103.htm (EX-10.3) — 13KB
• mmc0331202410qex_104.htm (EX-10.4) — 13KB
• mmc0331202410qex_105.htm (EX-10.5) — 55KB
• mmc0331202410qex_106.htm (EX-10.6) — 49KB
• mmc0331202410qex_107.htm (EX-10.7) — 82KB
• mmc0331202410qex_108.htm (EX-10.8) — 84KB
• mmc0331202410qex_109.htm (EX-10.9) — 111KB
• mmc0331202410qex_1010.htm (EX-10.10) — 119KB
• mmc0331202410qex_1011.htm (EX-10.11) — 92KB
• mmc0331202410qex_311.htm (EX-31.1) — 9KB
• mmc0331202410qex_312.htm (EX-31.2) — 9KB
• mmc0331202410qex_321.htm (EX-32.1) — 7KB
• image.jpg (GRAPHIC) — 9KB
• image_0.jpg (GRAPHIC) — 18KB
• image_3.jpg (GRAPHIC) — 8KB
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• image_3c.jpg (GRAPHIC) — 8KB
• imagea.jpg (GRAPHIC) — 9KB
• imagec.jpg (GRAPHIC) — 9KB
• mmc-20240331_g1.jpg (GRAPHIC) — 80KB
• 0000062709-24-000037.txt (&nbsp;) — 10316KB
• mmc-20240331.xsd (EX-101.SCH) — 67KB
• mmc-20240331_cal.xml (EX-101.CAL) — 117KB
• mmc-20240331_def.xml (EX-101.DEF) — 323KB
• mmc-20240331_lab.xml (EX-101.LAB) — 714KB
• mmc-20240331_pre.xml (EX-101.PRE) — 528KB
• mmc-20240331_htm.xml (XML) — 1547KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 4

FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1. FINANCIAL STATEMENTS (UNAUDITED) 4 CONSOLIDATED STATEMENTS OF INCOME 4 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME 5 CONSOLIDATED BALANCE SHEETS 6 CONSOLIDATED STATEMENTS OF CASH FLOWS 8 CONSOLIDATED STATEMENTS OF EQUITY 9

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 10

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS 34 OF OPERATIONS

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 49

CONTROLS & PROCEDURES

ITEM 4. CONTROLS & PROCEDURES 50

OTHER INFORMATION

PART II. OTHER INFORMATION 51

LEGAL PROCEEDINGS

ITEM 1. LEGAL PROCEEDINGS 51

RISK FACTORS

ITEM 1A. RISK FACTORS 51

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 51

DEFAULTS UPON SENIOR SECURITIES

ITEM 3. DEFAULTS UPON SENIOR SECURITIES 51

MINE SAFETY DISCLOSURE

ITEM 4. MINE SAFETY DISCLOSURE 51

OTHER INFORMATION

ITEM 5. OTHER INFORMATION 51

EXHIBITS

ITEM 6. EXHIBITS 51 3

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. MARSH & McLENNAN COMPANIES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (Unaudited) Three Months Ended March 31, (In millions, except per share data) 2024 2023 Revenue $ 6,473 $ 5,924 Expense: Compensation and benefits 3,470 3,207 Other operating expenses 1,078 991 Operating expenses 4,548 4,198 Operating income 1,925 1,726 Other net benefit credits 67 58 Interest income 37 14 Interest expense ( 159 ) ( 136 ) Investment income 1 2 Income before income taxes 1,871 1,664 Income tax expense 447 412 Net income before non-controlling interests 1,424 1,252 Less: Net income attributable to non-controlling interests 24 17 Net income attributable to the Company $ 1,400 $ 1,235 Net income per share attributable to the Company: – Basic $ 2.84 $ 2.50 – Diluted $ 2.82 $ 2.47 Average number of shares outstanding: – Basic 492 495 – Diluted 497 500 Shares outstanding at March 31, 493 495 The accompanying notes are an integral part of these unaudited consolidated statements. 4 MARSH & McLENNAN COMPANIES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) Three Months Ended March 31, (In millions) 2024 2023 Net income before non-controlling interests $ 1,424 $ 1,252 Other comprehensive (loss) income, before tax: Foreign currency translation adjustments ( 244 ) 119 Gain (loss) related to pension/post-retirement plans 50 ( 58 ) Other comprehensive (loss) income before tax ( 194 ) 61 Income tax expense (benefit) on other comprehensive loss 20 ( 19 ) Other comprehensive (loss) income, net of tax ( 214 ) 80 Comprehensive income 1,210 1,332 Less: comprehensive income attributable to non-controlling interest 24 17 Comprehensive income attributable to the Company $ 1,186 $ 1,315 The accompanying notes are an integral part of these unaudited consolidated statements. 5 MARSH & McLENNAN COMPANIES, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In millions,

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) 1. Nature of Operations Marsh & McLennan Companies, Inc., and its consolidated subsidiaries (the "Company"), a global professional services firm, is organized based on the different services that it offers. Under this structure, the Company's two business segments are Risk and Insurance Services and Consulting. The Risk and Insurance Services segment ("RIS") includes risk management activities (risk advice, risk transfer, and risk control and mitigation solutions) as well as insurance and reinsurance broking and services for businesses, public entities, insurance companies, associations, professional services organizations, and private clients. The Company conducts business in this segment through Marsh and Guy Carpenter. Marsh provides data-driven risk advisory services and insurance solutions to commercial and consumer clients. Guy Carpenter develops advanced risk, reinsurance and capital strategies that help clients grow profitably and pursue emerging opportunities. The Consulting segment includes health, wealth and career advice, solutions and products, and specialized management, strategic, economic and brand consulting services. The Company conducts business in this segment through Mercer and Oliver Wyman Group. Mercer delivers advice and technology-driven solutions that help organizations redefine the future of work, reshape retirement and investment outcomes, and unlock health and well-being for a changing workforce. Oliver Wyman Group serves as a critical strategic, economic and brand advisor to private sector and governmental clients . 2. Principles of Consolidation and Other Matters The Company prepared the consolidated financial statements included herein pursuant to the rules and regulations of the Securities and Exchange Commission. For interim filings, certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally