Segment Information (Tables)

9 Months Ended

Sep. 30, 2022

Selected Information And Details For MMC's Operating Segments

Selected information about the Company’s segments for the three and nine months ended September 30, 2022 and 2021 is as follows:


	Three Months Ended September 30,					Nine Months Ended September 30,
(In millions)	Revenue			Operating Income (Loss)		Revenue			Operating Income (Loss)
2022–
Risk and Insurance Services	$	2,838	(a)	$	529	$	9,700	(c)	$	2,617
Consulting	1,951		(b)	350		6,045		(d)	1,217
Total Operating Segments	4,789			879		15,745			3,834
Corporate/Eliminations	(19)			(88)		(47)			(234)
Total Consolidated	$	4,770		$	791	$	15,698		$	3,600
2021–
Risk and Insurance Services	$	2,670	(a)	$	403	$	9,036	(c)	$	2,413
Consulting	1,925		(b)	404		5,690		(d)	1,109
Total Operating Segments	4,595			807		14,726			3,522
Corporate/Eliminations	(12)			(67)		(43)			(196)
Total Consolidated	$	4,583		$	740	$	14,683		$	3,326

(a) Includes interest income on fiduciary funds of $40 million and $4 million in 2022 and 2021, respectively, and equity method income of $8 million in 2021.

(b) Includes inter-segment revenue of $19 million and $11 million in 2022 and 2021, respectively.

(c) Includes inter-segment revenue of $5 million in both 2022 and 2021, interest income on fiduciary funds of $57 million and $12 million in 2022 and 2021, respectively, and equity method income of $9 million and $25 million in 2022 and 2021, respectively. Revenue for 2022 also includes the loss on deconsolidation of the Russian businesses of $27 million. Revenue for 2021 includes $52 million primarily from the gain on the sale of the U.K. commercial networks business.

(d) Includes inter-segment revenue of $42 million and $38 million in 2022 and 2021, respectively. Revenue for 2022 also includes a gain on the sale of the Mercer U.S. affinity business of $112 million, partly offset by the loss on deconsolidation of the Russian businesses of $12 million.

Schedule of Details of Operating Segment Revenue

Details of operating segment revenue for the three and nine months ended September 30, 2022 and 2021 are as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2022		2021		2022		2021
Risk and Insurance Services
Marsh	$	2,497	$	2,355	$	7,833	$	7,336
Guy Carpenter	341		315		1,867		1,700
Total Risk and Insurance Services	2,838		2,670		9,700		9,036
Consulting
Mercer	1,284		1,315		4,016		3,877
Oliver Wyman Group	667		610		2,029		1,813
Total Consulting	1,951		1,925		6,045		5,690
Total Operating Segments	4,789		4,595		15,745		14,726
Corporate Eliminations	(19)		(12)		(47)		(43)
Total	$	4,770	$	4,583	$	15,698	$	14,683