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Segment Information
 6 Months Ended
Jun. 30, 2016
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 business 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 to the Company’s 2015 Form 10-K. 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 operating segments for the three and six month periods ended June 30, 2016 and 2015 are as follows:
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
(In millions of dollars)
Revenue
 
Operating
Income
(Loss)
 
Revenue
 
Operating
Income
(Loss)
2016–
 
 
 
 
 
 
 
Risk and Insurance Services
$
1,850

(a) 
$
490

 
$
3,718

(c) 
$
1,025

Consulting
1,539

(b) 
285

 
3,017

(d) 
530

Total Operating Segments
3,389

  
775

 
6,735

  
1,555

Corporate / Eliminations
(13
)
 
(49
)
 
(23
)
 
(96
)
Total Consolidated
$
3,376

  
$
726

 
$
6,712

  
$
1,459

2015–
 
 
 
 
 
 
 
Risk and Insurance Services
$
1,750

(a) 
$
427

 
$
3,553

(c) 
$
960

Consulting
1,487

(b) 
248

 
2,908

(d) 
496

Total Operating Segments
3,237

  
675

 
6,461

  
1,456

Corporate / Eliminations
(12
)
 
(46
)
 
(21
)
 
(92
)
Total Consolidated
$
3,225

  
$
629

 
$
6,440

  
$
1,364


(a) 
Includes inter-segment revenue of $3 million and $4 million in 2016 and 2015, respectively, interest income on fiduciary funds of $6 million and $5 million in 2016 and 2015, respectively, and equity method income of $6 million in 2016 and $0 million in 2015, respectively.
(b) 
Includes inter-segment revenue of $10 million and $8 million in 2016 and 2015, respectively, interest income on fiduciary funds of less than $1 million and $1 million in 2016 and 2015, respectively, and equity method income of $5 million in both 2016 and 2015.
(c) 
Includes inter-segment revenue of $4 million in 2016 and $5 million in 2015, interest income on fiduciary funds of $12 million and $10 million in 2016 and 2015, respectively, and equity method income of $7 million and $2 million in 2016 and 2015, respectively.
(d) 
Includes inter-segment revenue of $19 million and $16 million in 2016 and 2015, respectively, interest income on fiduciary funds of $1 million and $2 million in 2016 and 2015, respectively, and equity method income of $9 million and $8 million in 2016 and 2015, respectively.



Details of operating segment revenue for the three and six month periods ended June 30, 2016 and 2015 are as follows:
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
(In millions of dollars)
2016

 
2015

 
2016

 
2015

Risk and Insurance Services
 
 
 
 
 
 
 
Marsh
$
1,564

 
$
1,474

 
$
3,057

 
$
2,908

Guy Carpenter
286

 
276

 
661

 
645

Total Risk and Insurance Services
1,850

 
1,750

 
3,718

 
3,553

Consulting
 
 
 
 
 
 
 
Mercer
1,079

 
1,046

 
2,118

 
2,083

Oliver Wyman Group
460

 
441

 
899

 
825

Total Consulting
1,539

 
1,487

 
3,017

 
2,908

Total Operating Segments
3,389

 
3,237

 
6,735

 
6,461

Corporate / Eliminations
(13
)
 
(12
)
 
(23
)
 
(21
)
Total
$
3,376

 
$
3,225

 
$
6,712

 
$
6,440