Segment Information

12 Months Ended

Dec. 31, 2014

Segment Reporting [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 of dollars)	Revenue				Operating Income (Loss)			Total Assets				Depreciation and Amortization		Capital Expenditures
2014 –
Risk and Insurance Services	$	6,931		(a)	$	1,509		$	12,211			$	213	$	173
Consulting	6,059			(b)	996			5,916				119		92
Total Segments	12,990				2,505			18,127				332		265
Corporate / Eliminations	(39		)		(204		)	(287		)	(c)	56		103
Total Consolidated	$	12,951			$	2,301		$	17,840			$	388	$	368
2013 –
Risk and Insurance Services	$	6,596		(a)	$	1,421		$	11,365			$	192	$	158
Consulting	5,701			(b)	845			5,178				115		155
Total Segments	12,297				2,266			16,543				307		313
Corporate / Eliminations	(36		)		(189		)	437			(c)	51		88
Total Consolidated	$	12,261			$	2,077		$	16,980			$	358	$	401
2012 –
Risk and Insurance Services	$	6,350		(a)	$	1,334		$	9,832			$	196	$	131
Consulting	5,613			(b)	692			5,203				113		117
Total Segments	11,963				2,026			15,035				309		248
Corporate / Eliminations	(39		)		(197		)	1,253			(c)	40		72
Total Consolidated	$	11,924			$	1,829		$	16,288			$	349	$	320

(a) Includes inter-segment revenue of $4 million in 2014 and $5 million in both 2013 and 2012, interest income on fiduciary funds of $24 million, $27 million and $39 million in 2014, 2013 and 2012, respectively, and equity method income of $9 million, $8 million and $11 million in 2014, 2013 and 2012, respectively.

(b) Includes inter-segment revenue of $35 million, $31 million and $34 million in 2014, 2013 and 2012, respectively, interest income on fiduciary funds of $6 million in 2014, $5 million in 2013 and $4 million2012 and equity method income of $2 million in 2014, and $0 million in both 2013 and 2012.

(c) 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)	2014			2013			2012
Risk and Insurance Services
Marsh	$	5,774		$	5,461		$	5,265
Guy Carpenter	1,157			1,135			1,085
Total Risk and Insurance Services	6,931			6,596			6,350
Consulting
Mercer	4,350			4,241			4,147
Oliver Wyman Group	1,709			1,460			1,466
Total Consulting	6,059			5,701			5,613
Total Segments	12,990			12,297			11,963
Corporate / Eliminations	(39		)	(36		)	(39		)
Total	$	12,951		$	12,261		$	11,924

Information by geographic area is as follows:

For the Years Ended December 31,
(In millions of dollars)	2014			2013			2012
Revenue
United States	$	5,865		$	5,485		$	5,300
United Kingdom	2,111			1,979			1,960
Continental Europe	2,077			1,943			1,879
Asia Pacific	1,420			1,396			1,346
Other	1,517			1,494			1,478
	12,990			12,297			11,963
Corporate/Eliminations	(39		)	(36		)	(39		)
	$	12,951		$	12,261		$	11,924

For the Years Ended December 31,
(In millions of dollars)	2014		2013		2012
Fixed Assets, Net
United States	$	483	$	494	$	494
United Kingdom	120		121		121
Continental Europe	60		64		63
Asia Pacific	62		72		62
Other	84		77		69
	$	809	$	828	$	809