Segment Information

12 Months Ended

Dec. 31, 2015

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			(d)	Depreciation and Amortization		Capital Expenditures
2015 –
Risk and Insurance Services	$	6,869		(a)	$	1,539		$	13,290			$	240	$	136
Consulting	6,064			(b)	1,075			6,485				120		108
Total Segments	12,933				2,614			19,775				360		244
Corporate/Eliminations	(40		)		(195		)	(1,559		)	(c)	63		81
Total Consolidated	$	12,893			$	2,419		$	18,216			$	423	$	325
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		)	(334		)	(c)	56		103
Total Consolidated	$	12,951			$	2,301		$	17,793			$	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		)	417			(c)	51		88
Total Consolidated	$	12,261			$	2,077		$	16,960			$	358	$	401

(a) Includes inter-segment revenue of $6 million in 2015, $4 millionin 2014 and $5 million in 2013, interest income on fiduciary funds of $21 million, $24 million and $27 million in 2015, 2014 and 2013, respectively, and equity method income of $6 million, $9 million and $8 million in 2015, 2014 and 2013, respectively.

(b) Includes inter-segment revenue of $34 million, $35 million and $31 million in 2015, 2014 and 2013, respectively, interest income on fiduciary funds of $4 million in 2015, $6 million in 2014 and $5 millionin2013 and equity method income of $21 million in 2015, $2 million in 2014 and $0 million in 2013.

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

(d) Amended to reflect the adoption in 2015 of new Financial Accounting Standards Board guidance related to the presentation of deferred taxes and debt issuance costs.

Details of operating segment revenue are as follows:

For the Years Ended December 31,
(In millions of dollars)	2015			2014			2013
Risk and Insurance Services
Marsh	$	5,745		$	5,774		$	5,461
Guy Carpenter	1,124			1,157			1,135
Total Risk and Insurance Services	6,869			6,931			6,596
Consulting
Mercer	4,313			4,350			4,241
Oliver Wyman Group	1,751			1,709			1,460
Total Consulting	6,064			6,059			5,701
Total Segments	12,933			12,990			12,297
Corporate/Eliminations	(40		)	(39		)	(36		)
Total	$	12,893		$	12,951		$	12,261

Information by geographic area is as follows:

For the Years Ended December 31,
(In millions of dollars)	2015			2014			2013
Revenue
United States	$	6,316		$	5,865		$	5,485
United Kingdom	2,036			2,111			1,979
Continental Europe	1,902			2,077			1,943
Asia Pacific	1,333			1,420			1,396
Other	1,346			1,517			1,494
	12,933			12,990			12,297
Corporate/Eliminations	(40		)	(39		)	(36		)
	$	12,893		$	12,951		$	12,261

For the Years Ended December 31,
(In millions of dollars)	2015		2014		2013
Fixed Assets, Net
United States	$	460	$	483	$	494
United Kingdom	115		120		121
Continental Europe	57		60		64
Asia Pacific	49		62		72
Other	92		84		77
	$	773	$	809	$	828