XML 88 R74.htm IDEA: XBRL DOCUMENT v3.22.4
Retirement Benefits (Schedules Providing Information Concerning MMC's Defined Benefit Pension Plans and Postretirement Benefit Plans) (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Fair value of plan assets at beginning of year $ 19,394    
Fair value of plan assets at end of year 13,042 $ 19,394  
Amounts recognized in the consolidated balance sheets:      
Non-current assets 2,127 2,270  
Non-current liabilities (921) (1,632)  
Pension  Benefits      
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Service cost 28 38 $ 36
Interest cost 389 341 421
Post-retirement Benefits      
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Service cost 0 1  
Interest cost 3 2 3
U.S. | Pension  Benefits      
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Benefit obligation at beginning of year 6,594 6,914  
Interest cost 193 184 213
Employee contributions 0 0  
Actuarial gain (1,625) (227)  
Plan amendments 0 1  
Benefits paid (286) (278)  
Benefit obligation at end of year 4,876 6,594 6,914
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Fair value of plan assets at beginning of year 5,537 5,100  
Actual return on plan assets (1,005) 680  
Employer contributions 30 35  
Employee contributions 0 0  
Benefits paid (286) (278)  
Fair value of plan assets at end of year 4,276 5,537 5,100
Net funded status (600) (1,057)  
Amounts recognized in the consolidated balance sheets:      
Current liabilities (31) (31)  
Non-current liabilities (569) (1,026)  
Net amount recognized in consolidated balance sheet (600) (1,057)  
Amounts recognized in other comprehensive loss:      
Prior service cost (1) (1)  
Net actuarial loss 1,419 1,777  
Total recognized accumulated other comprehensive (loss) income, December 31 (1,420) (1,778)  
Cumulative employer contributions in excess of (less than) net benefit (credit) cost 820 721  
Net amount recognized in consolidated balance sheet (600) (1,057)  
Accumulated benefit obligation 4,876 6,594  
U.S. | Post-retirement Benefits      
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Benefit obligation at beginning of year 28 31  
Interest cost 1 1 1
Employee contributions 3 4  
Actuarial gain (3) (1)  
Plan amendments 0 0  
Benefits paid (7) (7)  
Benefit obligation at end of year 22 28 31
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Fair value of plan assets at beginning of year 2 2  
Actual return on plan assets 0 0  
Employer contributions 4 3  
Employee contributions 3 4  
Benefits paid (7) (7)  
Fair value of plan assets at end of year 2 2 2
Net funded status (20) (26)  
Amounts recognized in the consolidated balance sheets:      
Current liabilities (1) (1)  
Non-current liabilities (19) (25)  
Net amount recognized in consolidated balance sheet (20) (26)  
Amounts recognized in other comprehensive loss:      
Prior service cost 0 0  
Net actuarial loss (8) (3)  
Total recognized accumulated other comprehensive (loss) income, December 31 8 3  
Cumulative employer contributions in excess of (less than) net benefit (credit) cost (28) (29)  
Net amount recognized in consolidated balance sheet (20) (26)  
Accumulated benefit obligation 0 0  
Non-U.S. | Pension  Benefits      
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Benefit obligation at beginning of year 12,057 12,998  
Service cost 28 38 36
Interest cost 196 157 208
Employee contributions 3 2  
Plan combination 2 0  
Actuarial gain (3,953) (617)  
Plan amendments 0 7  
Effect of settlement (22) (16)  
Effect of curtailment 0 (2)  
Benefits paid (342) (395)  
Foreign currency changes (1,083) (115)  
Benefit obligation at end of year 6,886 12,057 12,998
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Fair value of plan assets at beginning of year 13,855 14,028  
Plan combination 1 0  
Actual return on plan assets (3,609) 306  
Effect of settlement (22) (16)  
Employer contributions 139 95  
Employee contributions 3 2  
Benefits paid (342) (395)  
Foreign currency changes (1,261) (165)  
Fair value of plan assets at end of year 8,764 13,855 14,028
Net funded status 1,878 1,798  
Amounts recognized in the consolidated balance sheets:      
Non-current assets 2,127 2,269  
Current liabilities (6) (6)  
Non-current liabilities (243) (465)  
Net amount recognized in consolidated balance sheet 1,878 1,798  
Amounts recognized in other comprehensive loss:      
Prior service cost 16 18  
Net actuarial loss (2,610) (2,904)  
Total recognized accumulated other comprehensive (loss) income, December 31 2,626 2,922  
Cumulative employer contributions in excess of (less than) net benefit (credit) cost 4,504 4,720  
Net amount recognized in consolidated balance sheet 1,878 1,798  
Accumulated benefit obligation 6,776 11,830  
Non-U.S. | Post-retirement Benefits      
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Benefit obligation at beginning of year 68 73  
Service cost 0 1  
Interest cost 2 1 2
Employee contributions 0 0  
Plan combination 0 0  
Actuarial gain (14) (4)  
Plan amendments 0 0  
Effect of settlement 0 0  
Effect of curtailment 0 0  
Benefits paid (2) (3)  
Foreign currency changes (6) 0  
Benefit obligation at end of year 48 68 73
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Fair value of plan assets at beginning of year 0 0  
Plan combination 0 0  
Actual return on plan assets 0 0  
Effect of settlement 0 0  
Employer contributions 2 3  
Employee contributions 0 0  
Benefits paid (2) (3)  
Foreign currency changes 0 0  
Fair value of plan assets at end of year 0 0 $ 0
Net funded status (48) (68)  
Amounts recognized in the consolidated balance sheets:      
Non-current assets 0 0  
Current liabilities (3) (3)  
Non-current liabilities (45) (65)  
Net amount recognized in consolidated balance sheet (48) (68)  
Amounts recognized in other comprehensive loss:      
Prior service cost (5) (7)  
Net actuarial loss 6 (10)  
Total recognized accumulated other comprehensive (loss) income, December 31 (11) 3  
Cumulative employer contributions in excess of (less than) net benefit (credit) cost (59) (65)  
Net amount recognized in consolidated balance sheet (48) (68)  
Accumulated benefit obligation $ 0 $ 0