XML 27 R4.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 1,006 $ 1,442
Receivables    
Commissions and fees 5,966 5,293
Advanced premiums and claims 98 103
Other 790 616
Gross receivables 6,854 6,012
Less-allowance for credit losses (154) (160)
Net receivables 6,700 5,852
Other current assets 1,407 1,005
Total current assets 9,113 8,299
Goodwill 16,300 16,251
Other intangible assets 2,452 2,537
Fixed assets (net of accumulated depreciation and amortization of $1,579 at March 31, 2023 and $1,531 at December 31, 2022) 867 871
Pension related assets 2,200 2,127
Right of use assets 1,586 1,562
Deferred tax assets 369 358
Other assets 1,471 1,449
Total assets 34,358 33,454
Current liabilities:    
Short-term debt 2,111 268
Accounts payable and accrued liabilities 3,406 3,278
Accrued compensation and employee benefits 1,443 3,095
Current lease liabilities 306 310
Accrued income taxes 356 221
Dividends payable 292 0
Total current liabilities 7,914 7,172
Fiduciary liabilities 10,834 10,660
Less – cash and cash equivalents held in a fiduciary capacity (10,834) (10,660)
Fiduciary liabilities, net 0 0
Long-term debt 10,841 11,227
Pension, post-retirement and post-employment benefits 896 921
Long-term lease liabilities 1,723 1,667
Liabilities for errors and omissions 355 355
Other liabilities 1,433 1,363
Commitments and contingencies 0 0
Equity:    
Preferred stock, $1 par value, authorized 6,000,000 shares, none issued 0 0
Common stock, $1 par value, authorized 1,600,000,000 shares, issued 560,641,640 shares at March 31, 2023 and December 31, 2022 561 561
Additional paid-in capital 1,064 1,179
Retained earnings 20,949 20,301
Accumulated other comprehensive loss (5,234) (5,314)
Non-controlling interests 243 229
Stockholders' equity before treasury stock 17,583 16,956
Less – treasury shares, at cost, 65,836,882 shares at March 31, 2023 and 65,855,914 shares at December 31, 2022 (6,387) (6,207)
Total equity 11,196 10,749
Total liabilities and stockholders' equity $ 34,358 $ 33,454