XML 52 R25.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Segment Information
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company is organized based on the types of services provided. Under this structure, the Company’s segments are:
•Risk and Insurance Services, comprising insurance services (Marsh) and reinsurance services (Guy Carpenter); and
•Consulting, comprising Mercer and Oliver Wyman Group.
The accounting policies of the segments are the same as those used for the consolidated financial statements described in Note 1, Summary of Significant Accounting Policies, in the Company’s 2023 Form 10-K. Segment performance is evaluated based on segment operating income, which includes directly related expenses, and charges or credits related to restructuring but not the Company’s corporate-level expenses. Revenues are attributed to geographic areas on the basis of where the services are performed.
Selected information about the Company’s segments for the three months ended March 31, 2024 and 2023 is as follows:
Three Months Ended
 March 31,
(In millions)Revenue Operating Income/(Loss)
2024 –
Risk and Insurance Services$4,273 
(a) 
$1,565 
Consulting2,214 
(b) 
432 
Total Segments6,487 1,997 
Corporate/Eliminations(14)(72)
Total Consolidated$6,473 $1,925 
2023 –
Risk and Insurance Services$3,906 
(a)
$1,395 
Consulting2,031 
(b)
411 
Total Segments5,937 1,806 
Corporate/Eliminations(13)(80)
Total Consolidated$5,924 $1,726 
(a)Includes interest income on fiduciary funds of $122 million and $91 million in 2024 and 2023, respectively.
(b)Includes inter-segment revenue of $13 million in 2024 and 2023. Revenue in 2024 also includes a net gain of $21 million from the sale of Mercer's U.K. pension administration and U.S. health and benefits administration businesses.
Details of operating segment revenue for the three months ended March 31, 2024 and 2023 are as follows:
Three Months Ended
 March 31,
(In millions)20242023
Risk and Insurance Services
Marsh$3,081 $2,800 
Guy Carpenter1,192 1,106 
Total Risk and Insurance Services4,273 3,906 
Consulting  
Mercer1,425 1,344 
Oliver Wyman Group789 687 
Total Consulting2,214 2,031 
Total Segments6,487 5,937 
Corporate Eliminations(14)(13)
Total$6,473 $5,924