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Segment Information
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company is organized based on the types of services provided. Under this 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, Summary of Significant Accounting Policies. 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.
Prior to being acquired by the Company, JLT operated in three segments: Specialty, Reinsurance and Employee Benefits. JLT operated in 41 countries, with significant revenue in the United Kingdom, Pacific, Asia and the United States. As of April 1, 2019, the historical JLT businesses were combined into MMC operations as follows: JLT Specialty is included by geography within Marsh, JLT Reinsurance is included in Guy Carpenter and the majority of JLT's Employee Benefits business was included in Mercer Health and Wealth.
Selected information about the Company’s segments and geographic areas of operation are as follows:
For the Years Ended December 31, (In millions)
Revenue Operating
Income
(Loss)		 Total
Assets		Depreciation
and
Amortization		Capital
Expenditures
2021 –
Risk and Insurance Services$12,085 (a) $3,080 $21,996 (d) $505 $214 
Consulting7,789 (b) 1,504 10,346 (e)171 109 
Total Segments19,874 4,584 32,342 676 323 
Corporate/Eliminations(54)(272)2,046 (c) 71 83 
Total Consolidated$19,820 $4,312 $34,388 $747 $406 
2020 –
Risk and Insurance Services$10,337 (a) $2,346 $20,612 (d) $500 $170 
Consulting6,976 (b) 994 9,571 (e)174 107 
Total Segments17,313 3,340 30,183 674 277 
Corporate/Eliminations(89)(274)2,866 (c) 67 71 
Total Consolidated$17,224 $3,066 $33,049 $741 $348 
2019 –
Risk and Insurance Services$9,599 (a) $1,833 $26,098 (d) $416 $184 
Consulting7,143 (b) 1,210 9,722 (e)156 150 
Total Segments16,742 3,043 35,820 572 334 
Corporate/Eliminations(90)(366)(4,463)(c) 75 87 
Total Consolidated$16,652 $2,677 $31,357 $647 $421 
(a)2021 includes inter-segment revenue of $5 million in both 2021 and 2020 and $8 million in 2019, interest income on fiduciary funds of $15 million, $46 million and $105 million in 2021, 2020 and 2019, respectively, and equity method income of $31 million, $27 million and $25 million in 2021, 2020 and 2019. Revenue in 2021 also includes gain on the consolidation of Marsh India of $267 million and gain on disposition of business of $50 million.
(b)Includes inter-segment revenue of $49 million, $84 million and $82 million in 2021, 2020 and 2019, respectively, and equity method income of $5 million and $16 million in 2020 and 2019, respectively.
(c)Corporate assets primarily include insurance recoverables, pension related assets, the owned portion of the Company headquarters building and intercompany eliminations.
(d)Includes equity method investments of $53 million, $165 million and $179 million at December 31, 2021, 2020 and 2019, respectively.
(e)Includes equity method investments of $5 million at December 31, 2021 and 2020 and $149 million at December 31, 2019, respectively.
Details of operating segment revenue are as follows:
For the Years Ended December 31,
(In millions)202120202019
Risk and Insurance Services
Marsh$10,214 $8,628 $8,085 
Guy Carpenter1,871 1,709 1,514 
Total Risk and Insurance Services12,085 10,337 9,599 
Consulting   
Mercer5,254 4,928 5,021 
Oliver Wyman Group 2,535 2,048 2,122 
Total Consulting7,789 6,976 7,143 
Total Segments19,874 17,313 16,742 
Corporate/Eliminations(54)(89)(90)
Total$19,820 $17,224 $16,652 
Information by geographic area is as follows: 
For the Years Ended December 31,
(In millions)202120202019
Revenue
United States$9,343 $8,168 $7,840 
United Kingdom3,130 2,818 2,679 
Continental Europe3,219 2,881 2,837 
Asia Pacific2,617 (a)2,093 2,001 
Other1,565 1,353 1,385 
19,874 17,313 16,742 
Corporate/Eliminations(54)(89)(90)
Total$19,820 $17,224 $16,652 
(a)Revenue in 2021 includes gain on the consolidation of Marsh India of $267 million.
For the Years Ended December 31,
(In millions)202120202019
Fixed Assets, Net
United States$484 $492 $462 
United Kingdom116 115 149 
Continental Europe68 74 68 
Asia Pacific96 105 101 
Other83 70 78 
Total$847 $856 $858