Segment Information

12 Months Ended

Dec. 31, 2012

Segment Information [Abstract]

Segment Information

Segment Information

The Company is organized based on the types of services provided. Under this organizational structure, the Company’s segments are:

▪ Risk and Insurance Services, comprising insurance services (Marsh) and reinsurance services (Guy Carpenter); and

▪ Consulting, comprising Mercer and Oliver Wyman Group

The accounting policies of the segments are the same as those used for the consolidated financial statements described in Note 1. Segment performance is evaluated based on segment operating income, which includes directly related expenses, and charges or credits related to integration and restructuring but not the Company’s corporate-level expenses. Revenues are attributed to geographic areas on the basis of where the services are performed.

Selected information about the Company’s segments and geographic areas of operation are as follows:

For the Year Ended December 31, (In millions)	Revenue				Operating Income (Loss)				Total Assets			Depreciation and Amortization		Capital Expenditures
2012 –
Risk and Insurance Services	$	6,581		(a)	$	1,374			$	9,932		$	198	$	131
Consulting	5,382			(b)	652				5,103			111		117
Total Operating Segments	11,963				2,026				15,035			309		248
Corporate / Eliminations	(39		)	(c)	(197		)	(c)	1,253		(d)	40		72
Total Consolidated	$	11,924			$	1,829			$	16,288		$	349	$	320
2011 –
Risk and Insurance Services	$	6,301		(a)	$	1,229			$	9,202		$	191	$	146
Consulting	5,265			(b)	588				4,720			110		91
Total Operating Segments	11,566				1,817				13,922			301		237
Corporate / Eliminations	(40		)	(c)	(179		)	(c)	1,532		(d)	31		43
Total Consolidated	$	11,526			$	1,638			$	15,454		$	332	$	280
2010 –
Risk and Insurance Services	$	5,764		(a)	$	972			$	9,418		$	177	$	144
Consulting	4,835			(b)	129				4,437			113		80
Total Operating Segments	10,599				1,101				13,855			290		224
Corporate / Eliminations	(49		)	(c)	(162		)	(c)	1,455		(d)	29		34
Total Consolidated	$	10,550			$	939			$	15,310		$	319	$	258

(a) Includes inter-segment revenue of $5 million, $4 million and $7 million in 2012, 2011 and 2010, respectively, interest income on fiduciary funds of $39 million, $47 million and $45 million in 2012, 2011 and 2010, respectively, and equity method income of $11 million, $14 million and $12 million in 2012, 2011 and 2010, respectively.

(b) Includes inter-segment revenue of $34 million, $36 million and $43 million in 2012, 2011 and 2010, respectively, and interest income on fiduciary funds of $4 million in 2012, 2011 and 2010.

(c) Includes results of corporate advisory and restructuring business.

(d) Corporate assets primarily include insurance recoverables, pension related assets, the owned portion of the Company headquarters building and intercompany eliminations.

Details of operating segment revenue are as follows:

For the Years Ended December 31,
(In millions of dollars)	2012			2011			2010
Risk and Insurance Services
Marsh	$	5,496		$	5,253		$	4,781
Guy Carpenter	1,085			1,048			983
Total Risk and Insurance Services	6,581			6,301			5,764
Consulting
Mercer	3,916			3,782			3,478
Oliver Wyman Group	1,466			1,483			1,357
Total Consulting	5,382			5,265			4,835
Total Operating Segments	11,963			11,566			10,599
Corporate/ Eliminations	(39		)	(40		)	(49		)
Total	$	11,924		$	11,526		$	10,550

Information by geographic area is as follows:

For the Years Ended December 31,
(In millions of dollars)	2012			2011			2010
Revenue
United States	$	5,300		$	5,131		$	4,708
United Kingdom	1,960			1,922			1,720
Continental Europe	1,879			1,906			1,809
Asia Pacific	1,346			1,287			1,067
Other	1,478			1,320			1,295
	11,963			11,566			10,599
Corporate/Eliminations	(39		)	(40		)	(49		)
	$	11,924		$	11,526		$	10,550

For the Years Ended December 31,
(In millions of dollars)	2012		2011		2010
Fixed Assets, Net
United States	$	494	$	505	$	511
United Kingdom	121		133		132
Continental Europe	63		65		69
Asia Pacific	62		37		43
Other	69		64		67
	$	809	$	804	$	822