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Stock Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of option pricing valuation model for options granted
The assumptions used in the Black-Scholes option pricing valuation model for options granted by the Company in 2022, 2021 and 2020 are as follows:
202220212020
Risk-free interest rate1.88 %0.79 %1.44 %
Expected life (in years)5.86.06.0
Expected volatility22.58 %23.45 %20.33 %
Expected dividend yield1.41 %1.58 %1.53 %
The assumptions used in the Monte Carlo simulation model for PSU awards granted with the TSR modifier by the Company in 2022 include:
2022
Risk-Free Interest Rate1.75 %
Dividend Yield1.4 %
Volatility25.0 %
Initial TSR(12.8)%
Summary of the status of MMC's stock option awards
A summary of the status of the Company’s stock option awards as of December 31, 2022 and changes during the year then ended are presented below:
SharesWeighted
Average Exercise
Price		Weighted
Average
Remaining
Contractual
Term		Aggregate
Intrinsic Value
($000)
Balance at January 1, 20227,217,125 $90.17 
Granted1,026,615 $151.37 
Exercised(648,016)$77.37 
Forfeited(62,679)$141.68 
Balance as of December 31, 20227,533,045 $99.18 5.9 years$494,391 
Options vested or expected to vest at December 31, 2022
7,458,604 $98.96 6.1 years$491,121 
Options exercisable at
December 31, 2022
4,634,039 $82.46 4.7 years$381,622 
Summary of restricted stock units and performance stock units
A summary of the status of the Company's RSU and PSU awards as of December 31, 2022 and changes during the period then ended are presented below:
Restricted Stock UnitsPerformance Stock Units
SharesWeighted Average Grant Date Fair ValueSharesWeighted Average Grant Date Fair Value
Non-vested balance at January 1, 20225,548,462 $110.86 662,190 $114.35 
Granted2,048,576 $152.34 212,875$151.00 
Vested(3,173,780)$104.56 (208,730)$91.12 
Forfeited(240,563)$127.32 (27,357)$132.57 
Non-vested balance at December 31, 20224,182,695 $135.01 638,978$133.36