EX-99.1 4 dex991.htm AMENDED ITEM 6. SELECTED FINANCIAL DATA Amended Item 6. Selected Financial Data

EXHIBIT 99.1

AMENDED ITEM 6. SELECTED FINANCIAL DATA OF MMC’S ANNUAL REPORT ON FORM 10-K FOR THE FISCAL YEAR ENDED DECEMBER 31, 2008.

Marsh & McLennan Companies, Inc. and Subsidiaries

FIVE-YEAR STATISTICAL SUMMARY OF OPERATIONS

 

For the Years Ended December 31,

(In millions, except per share figures)

   2008     2007     2006     2005     2004    

Compound

Growth Rate

2003-2008

Revenue

   $ 11,518      $ 11,135      $ 10,293      $ 9,875      $ 9,863      3%

Expenses:

            

Compensation and Benefits

     7,181        6,937        6,434        6,279        6,071      3%

Other Operating Expenses

     3,549        3,344        2,919        3,165        2,848      4%

Goodwill Impairment Charge

     540                                 

Regulatory and Other Settlements

                          30        618     

Total Expenses

     11,270        10,281        9,353        9,474        9,537      3%

Operating Income

     248 (a)      854 (a)      940 (a)      401 (a)      326      (5)%

Interest Income

     48        95        60        44        20     

Interest Expense

     (220     (267     (303     (332     (219  

Investment Income (Loss)

     (12     173        207        183        153      N/A

Income Before Income Taxes

     64        855        904        296        280      (26)%

Income Taxes

     133        298        269        93        99     

(Loss) Income From Continuing Operations

     (69     557        635        203        181      N/A

Discontinued Operations, Net of Tax

     7        1,932        363        207        3      18%

Net (Loss) Income

   $ (62   $ 2,489      $ 998      $ 410      $ 184      N/A

Less: Net Income Attributable to Non-Controlling Interests

     11        14        8        6        8     

Net (Loss) Income attributable to MMC

   $ (73   $ 2,475      $ 990      $ 404      $ 176     

Basic (Loss) Income Per Share Information:

            

(Loss) Income From Continuing Operations

   $ (0.14   $ 0.98      $ 1.12      $ 0.37      $ 0.33      N/A

Income from Discontinued Operations

   $ 0.01      $ 3.51      $ 0.65      $ 0.37      $ 0.01      N/A

Net (Loss) Income attributable to MMC

   $ (0.13   $ 4.49      $ 1.77      $ 0.74      $ 0.34      N/A

Average Number of Shares Outstanding

     514        539        550        538        529     

Diluted (Loss) Income Per Share Information:

            

(Loss) Income From Continuing Operations

   $ (0.15   $ 0.98      $ 1.11      $ 0.36      $ 0.33      N/A

(Loss) Income From Discontinued Operations

   $ 0.01      $ 3.47      $ 0.62      $ 0.37      $      N/A

Net (Loss) Income attributable to MMC

   $ (0.14   $ 4.45      $ 1.73      $ 0.73      $ 0.33      N/A

Average Number of Shares Outstanding

     514        542        553        541        529     

Dividends Paid Per Share

   $ 0.80      $ 0.76      $ 0.68      $ 0.68      $ 1.30     

Return on Average Stockholders’ Equity

     N/A        36     18     8     3  

Year-end Financial Position:

            

Working capital

   $ 1,398      $ 1,961      $ 1,058      $ 1,390      $ (258  

Total assets

   $ 15,206      $ 17,359      $ 18,137      $ 17,892      $ 18,498     

Long-term debt

   $ 3,194      $ 3,604      $ 3,860      $ 5,044      $ 4,691     

Stockholders’ equity

   $ 5,760      $ 7,853      $ 5,842      $ 5,402      $ 5,101     

Total shares outstanding (net of treasury shares)

     514        520        552        546        527     

Other Information:

            

Number of employees

     54,000        55,700        52,300        51,900        59,300     

Stock price ranges—

            

U.S. exchanges— High

   $ 36.82      $ 33.90      $ 32.73      $ 34.25      $ 49.69     

                        — Low

   $ 20.96      $ 23.12      $ 24.00      $ 26.67      $ 22.75       

 

  (a) Includes net restructuring costs of $335 million, $98 million, $87 million and $317 million in 2008, 2007, 2006 and 2005, respectively.

See Management’s Discussion and Analysis of Financial Condition and Results of Operations, appearing under Part II, Item 7 of this report, for discussion of significant items affecting our results of operations in 2008, 2007 and 2006.

 

1