XML 65 R6.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements Of Cash Flows (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Operating cash flows:      
Net income before non-controlling interests $ 1,497us-gaap_ProfitLoss $ 1,385us-gaap_ProfitLoss $ 1,201us-gaap_ProfitLoss
Adjustments to reconcile net income to cash provided by operations:      
Depreciation and amortization of fixed assets and capitalized software 302us-gaap_Depreciation 286us-gaap_Depreciation 277us-gaap_Depreciation
Amortization of intangible assets 86us-gaap_AmortizationOfIntangibleAssets 72us-gaap_AmortizationOfIntangibleAssets 72us-gaap_AmortizationOfIntangibleAssets
Intangible asset impairment 0us-gaap_ImpairmentOfIntangibleAssetsFinitelived 5us-gaap_ImpairmentOfIntangibleAssetsFinitelived 8us-gaap_ImpairmentOfIntangibleAssetsFinitelived
Adjustments to acquisition related contingent consideration liability 19us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 24us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 (44)us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
Cost of early extinguishment of debt 137us-gaap_GainsLossesOnExtinguishmentOfDebt 24us-gaap_GainsLossesOnExtinguishmentOfDebt 0us-gaap_GainsLossesOnExtinguishmentOfDebt
Provision for deferred income taxes 127mmc_DeferredIncomeTaxExpenseBenefitIncludingDiscontinuedOperations 184mmc_DeferredIncomeTaxExpenseBenefitIncludingDiscontinuedOperations 96mmc_DeferredIncomeTaxExpenseBenefitIncludingDiscontinuedOperations
Gain on investments (37)us-gaap_GainLossOnInvestments (69)us-gaap_GainLossOnInvestments (24)us-gaap_GainLossOnInvestments
(Gain) Loss on disposition of assets (38)us-gaap_GainLossOnSaleOfOtherAssets 1us-gaap_GainLossOnSaleOfOtherAssets 23us-gaap_GainLossOnSaleOfOtherAssets
Share-based compensation expense 93us-gaap_ShareBasedCompensation 129us-gaap_ShareBasedCompensation 177us-gaap_ShareBasedCompensation
Changes in assets and liabilities:      
Net receivables (58)us-gaap_IncreaseDecreaseInReceivables (245)us-gaap_IncreaseDecreaseInReceivables (144)us-gaap_IncreaseDecreaseInReceivables
Other current assets (32)us-gaap_IncreaseDecreaseInOtherCurrentAssets (70)us-gaap_IncreaseDecreaseInOtherCurrentAssets (37)us-gaap_IncreaseDecreaseInOtherCurrentAssets
Other assets 25us-gaap_IncreaseDecreaseInOtherOperatingAssets (75)us-gaap_IncreaseDecreaseInOtherOperatingAssets 44us-gaap_IncreaseDecreaseInOtherOperatingAssets
Accounts payable and accrued liabilities 45us-gaap_IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities 106us-gaap_IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities (210)us-gaap_IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
Accrued compensation and employee benefits 167us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities (8)us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities 72us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities
Accrued income taxes 43us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable 43us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable 44us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable
Contributions to pension and other benefit plans in excess of current year expense/credit (152)mmc_PensionandOtherPostretirementBenefitContributionsInExcessofCurrentYearExpense (432)mmc_PensionandOtherPostretirementBenefitContributionsInExcessofCurrentYearExpense (117)mmc_PensionandOtherPostretirementBenefitContributionsInExcessofCurrentYearExpense
Other liabilities (185)us-gaap_IncreaseDecreaseInOtherOperatingLiabilities 13us-gaap_IncreaseDecreaseInOtherOperatingLiabilities (81)us-gaap_IncreaseDecreaseInOtherOperatingLiabilities
Effect of exchange rate changes 73mmc_EffectofExchangeRateonCashandCashEquivalentsfromOperatingActivities (32)mmc_EffectofExchangeRateonCashandCashEquivalentsfromOperatingActivities (35)mmc_EffectofExchangeRateonCashandCashEquivalentsfromOperatingActivities
Net cash provided by operations 2,112us-gaap_NetCashProvidedByUsedInOperatingActivities 1,341us-gaap_NetCashProvidedByUsedInOperatingActivities 1,322us-gaap_NetCashProvidedByUsedInOperatingActivities
Financing cash flows:      
Purchase of treasury shares (800)us-gaap_PaymentsForRepurchaseOfCommonStock (550)us-gaap_PaymentsForRepurchaseOfCommonStock (230)us-gaap_PaymentsForRepurchaseOfCommonStock
Proceeds from debt 1,393us-gaap_ProceedsFromIssuanceOfDebt 547us-gaap_ProceedsFromIssuanceOfDebt 248us-gaap_ProceedsFromIssuanceOfDebt
Repayments of debt (331)us-gaap_RepaymentsOfLongTermDebt (260)us-gaap_RepaymentsOfLongTermDebt (259)us-gaap_RepaymentsOfLongTermDebt
Payments for early extinguishment of debt (765)us-gaap_EarlyRepaymentOfSeniorDebt (274)us-gaap_EarlyRepaymentOfSeniorDebt 0us-gaap_EarlyRepaymentOfSeniorDebt
Shares withheld for taxes on vested units – treasury shares (64)us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation (79)us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation (97)us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation
Issuance of common stock from treasury shares 263us-gaap_ProceedsFromIssuanceOrSaleOfEquity 352us-gaap_ProceedsFromIssuanceOrSaleOfEquity 248us-gaap_ProceedsFromIssuanceOrSaleOfEquity
Payments of deferred and contingent consideration for acquisitions (55)mmc_PaymentsforAcquisitionsDeferredandContingentConsideration (9)mmc_PaymentsforAcquisitionsDeferredandContingentConsideration (30)mmc_PaymentsforAcquisitionsDeferredandContingentConsideration
Distributions of non-controlling interests (20)us-gaap_PaymentsToMinorityShareholders (28)us-gaap_PaymentsToMinorityShareholders (16)us-gaap_PaymentsToMinorityShareholders
Dividends paid (582)us-gaap_PaymentsOfDividendsCommonStock (533)us-gaap_PaymentsOfDividendsCommonStock (497)us-gaap_PaymentsOfDividendsCommonStock
Net cash used for financing activities (961)us-gaap_NetCashProvidedByUsedInFinancingActivities (834)us-gaap_NetCashProvidedByUsedInFinancingActivities (633)us-gaap_NetCashProvidedByUsedInFinancingActivities
Investing cash flows:      
Capital expenditures (368)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (401)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (320)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Net sales of long-term investments 6us-gaap_PaymentsForProceedsFromInvestments 93us-gaap_PaymentsForProceedsFromInvestments 20us-gaap_PaymentsForProceedsFromInvestments
Purchase of equity investment (304)us-gaap_PaymentsToAcquireEquityMethodInvestments 0us-gaap_PaymentsToAcquireEquityMethodInvestments 0us-gaap_PaymentsToAcquireEquityMethodInvestments
Proceeds from sales of fixed assets 3us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 5us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 6us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Dispositions 0us-gaap_ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates 5us-gaap_ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates 0us-gaap_ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates
Acquisitions (554)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (142)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (292)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
Other, net (5)us-gaap_PaymentsForProceedsFromOtherInvestingActivities (6)us-gaap_PaymentsForProceedsFromOtherInvestingActivities 3us-gaap_PaymentsForProceedsFromOtherInvestingActivities
Net cash used for investing activities (1,222)us-gaap_NetCashProvidedByUsedInInvestingActivities (446)us-gaap_NetCashProvidedByUsedInInvestingActivities (583)us-gaap_NetCashProvidedByUsedInInvestingActivities
Effect of exchange rate changes on cash and cash equivalents (274)mmc_EffectofExchangeRateonCashandCashEquivalentsExcludingOperatingActivities (59)mmc_EffectofExchangeRateonCashandCashEquivalentsExcludingOperatingActivities 82mmc_EffectofExchangeRateonCashandCashEquivalentsExcludingOperatingActivities
(Decrease) increase in cash and cash equivalents (345)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 2us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 188us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of period 2,303us-gaap_CashAndCashEquivalentsAtCarryingValue 2,301us-gaap_CashAndCashEquivalentsAtCarryingValue 2,113us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of period $ 1,958us-gaap_CashAndCashEquivalentsAtCarryingValue $ 2,303us-gaap_CashAndCashEquivalentsAtCarryingValue $ 2,301us-gaap_CashAndCashEquivalentsAtCarryingValue