Segment Information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Selected information and details for MMC's operating segments

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
2022 –
Risk and Insurance Services	$	12,645	(a)	$	3,089	$	22,776	(c)	$	469	$	283
Consulting	8,139		(b)	1,553		10,032		(d)	158		109
Total Segments	20,784			4,642		32,808			627		392
Corporate/Eliminations	(64)			(362)		646		(e)	92		78
Total Consolidated	$	20,720		$	4,280	$	33,454		$	719	$	470
2021 –
Risk and Insurance Services	$	12,085	(a)	$	3,080	$	21,996	(c)	$	505	$	214
Consulting	7,789		(b)	1,504		10,346		(d)	171		109
Total Segments	19,874			4,584		32,342			676		323
Corporate/Eliminations	(54)			(272)		2,046		(e)	71		83
Total Consolidated	$	19,820		$	4,312	$	34,388		$	747	$	406
2020 –
Risk and Insurance Services	$	10,337	(a)	$	2,346	$	20,612	(c)	$	500	$	170
Consulting	6,976		(b)	994		9,571		(d)	174		107
Total Segments	17,313			3,340		30,183			674		277
Corporate/Eliminations	(89)			(274)		2,866		(e)	67		71
Total Consolidated	$	17,224		$	3,066	$	33,049		$	741	$	348

(a) Includes inter-segment revenue of $5 million in each of 2022, 2021 and 2020, interest income on fiduciary funds of $120 million, $15 million and $46 million in 2022, 2021 and 2020, respectively, and equity method income of $12 million, $31 million and $27 million in 2022, 2021 and 2020, respectively. Revenue in 2022 also includes the loss on deconsolidation of the Russian businesses of $27 million. Revenue in 2021 includes the gain on the consolidation of Marsh India of $267 million and a net gain on disposition of business of approximately $50 million.

(b) Includes inter-segment revenue of $59 million, $49 million and $84 million in 2022, 2021 and 2020, respectively, and equity method income of $1 million in 2022 and $5 million in 2020, respectively. Revenue in 2022, also includes a net gain on the sale of the Mercer U.S. affinity business of $112 million, partially offset by the loss on deconsolidation of the Russian businesses of $12 million.

(c) Includes equity method investments of $50 million, $53 million and $165 million at December 31, 2022, 2021 and 2020, respectively.

(d) Includes equity method investments of $6 million at December 31, 2022 and $5 million at December 31, 2021 and 2020.

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

Schedule of details of operating segment revenue

Details of operating segment revenue are as follows:

For the Years Ended December 31,
(In millions)	2022		2021		2020
Risk and Insurance Services
Marsh	$	10,585	$	10,214	$	8,628
Guy Carpenter	2,060		1,871		1,709
Total Risk and Insurance Services	12,645		12,085		10,337
Consulting
Mercer	5,345		5,254		4,928
Oliver Wyman Group	2,794		2,535		2,048
Total Consulting	8,139		7,789		6,976
Total Segments	20,784		19,874		17,313
Corporate/Eliminations	(64)		(54)		(89)
Total	$	20,720	$	19,820	$	17,224

Schedule of information by geographic area

Information by geographic area is as follows: 

For the Years Ended December 31,
(In millions)	2022			2021			2020
Revenue
United States	$	10,215	(a)	$	9,343		$	8,168
United Kingdom	3,114			3,130		(c)	2,818
Continental Europe	3,223		(b)	3,219			2,881
Asia Pacific	2,537			2,617		(d)	2,093
Other	1,695			1,565			1,353
	20,784			19,874			17,313
Corporate/Eliminations	(64)			(54)			(89)
Total	$	20,720		$	19,820		$	17,224

(a) Revenue in 2022 includes a net gain from the sale of the Mercer U.S. affinity business of $112 million.

(b) Revenue in 2022 includes the loss on deconsolidation of the Company's Russian businesses at Marsh and Oliver Wyman of $27 million and $12 million, respectively.

(c) Revenue in 2021 includes a net gain on the disposition of businesses of approximately $50 million.

(d) Revenue in 2021 includes gain on the consolidation of Marsh India of $267 million.

For the Years Ended December 31,
(In millions)	2022		2021		2020
Fixed Assets, Net
United States	$	473	$	484	$	492
United Kingdom	166		116		115
Continental Europe	68		68		74
Asia Pacific	81		96		105
Other	83		83		70
Total	$	871	$	847	$	856