Marsh & McLennan Companies, Inc. MMC Cash Flow

Marsh & mclennan companies, inc. (MMC)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Jun'09	Mar'09
Operating cash flows:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
1,813,000	1,773,000	1,536,000	1,509,000	1,701,000	1,670,000	1,541,000	1,659,000	1,630,000	1,512,000	1,923,000	1,910,000	1,883,000	1,795,000	1,735,000	1,682,000	1,631,000	1,636,000	1,554,000	1,527,000	1,536,000	1,497,000	1,505,000	1,460,000	1,417,000	1,385,000	1,341,000	1,329,000	1,271,000	1,201,000	1,198,000	1,086,000	1,038,000	1,015,000	961,000	997,000	950,000	871,000	690,000	744,000	313,000	241,000	0	0	0
Adjustments to reconcile net income to cash provided by operations:
Depreciation and amortization of fixed assets and capitalized software
356,000	333,000	320,000	311,000	305,000	311,000	314,000	315,000	312,000	312,000	311,000	310,000	310,000	308,000	312,000	312,000	315,000	314,000	310,000	309,000	304,000	302,000	298,000	293,000	292,000	286,000	289,000	286,000	280,000	277,000	268,000	267,000	266,000	267,000	269,000	270,000	278,000	291,000	300,000	310,000	313,000	307,000	0	0	0
Amortization of Intangible Assets
349,000	314,000	283,000	246,000	189,000	183,000	182,000	177,000	174,000	169,000	153,000	143,000	137,000	130,000	129,000	128,000	118,000	109,000	101,000	92,000	88,000	86,000	83,000	79,000	76,000	72,000	72,000	73,000	73,000	72,000	68,000	67,000	66,000	65,000	64,000	62,000	65,000	66,000	62,000	62,000	59,000	58,000	0	0	0
Non cash lease expense
327,000	315,000	236,000	151,000	68,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Adjustments and payments related to contingent consideration liability
35,000	27,000	-3,000	-15,000	-17,000	-4,000	-4,000	-9,000	-9,000	-24,000	-26,000	-38,000	-54,000	-33,000	-41,000	3,000	14,000	11,000	29,000	22,000	23,000	19,000	13,000	11,000	17,000	24,000	4,000	-34,000	-43,000	-44,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Provision for deferred income taxes
102,000	84,000	-10,000	9,000	-59,000	-39,000	410,000	388,000	382,000	396,000	77,000	62,000	71,000	68,000	7,000	136,000	113,000	178,000	238,000	134,000	155,000	127,000	150,000	196,000	192,000	184,000	215,000	142,000	112,000	96,000	105,000	130,000	103,000	178,000	147,000	67,000	26,000	16,000	-23,000	48,000	126,000	42,000	0	0	0
Gain (Loss) on Investments
15,000	22,000	32,000	-27,000	-7,000	-12,000	0	0	0	-	-	-	-	0	-3,000	34,000	33,000	38,000	39,000	29,000	26,000	37,000	48,000	35,000	61,000	69,000	63,000	44,000	25,000	24,000	15,000	19,000	9,000	8,000	31,000	28,000	51,000	40,000	43,000	67,000	16,000	-8,000	0	0	0
Gain on disposition of assets
-53,000	-56,000	-41,000	26,000	47,000	48,000	52,000	0	-3,000	-10,000	-12,000	-12,000	-10,000	-6,000	13,000	11,000	12,000	13,000	39,000	39,000	38,000	38,000	-4,000	2,000	0	-1,000	-11,000	-16,000	-13,000	-23,000	-47,000	-46,000	-47,000	-35,000	-7,000	46,000	43,000	17,000	13,000	-47,000	-70,000	-56,000	0	0	0
Share-based compensation expense
267,000	252,000	231,000	211,000	200,000	193,000	184,000	173,000	157,000	149,000	136,000	126,000	120,000	109,000	105,000	100,000	95,000	88,000	86,000	88,000	84,000	93,000	103,000	114,000	120,000	129,000	254,000	223,000	208,000	177,000	28,000	29,000	25,000	21,000	20,000	19,000	19,000	18,000	0	0	0	-	-	-	-
Change in fair value of acquisition-related derivative contracts
37,000	8,000	349,000	449,000	412,000	441,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in assets and liabilities:
Net receivables
134,000	130,000	-48,000	127,000	30,000	78,000	416,000	524,000	665,000	454,000	240,000	192,000	125,000	154,000	96,000	58,000	226,000	52,000	-6,000	-60,000	-91,000	58,000	198,000	354,000	275,000	245,000	225,000	234,000	163,000	144,000	127,000	-20,000	-214,000	-143,000	-154,000	-139,000	315,000	216,000	375,000	408,000	163,000	81,000	0	0	0
Other current assets
10,000	13,000	-37,000	-18,000	13,000	-26,000	-30,000	-19,000	-42,000	3,000	3,000	-10,000	18,000	9,000	7,000	28,000	5,000	-3,000	-17,000	-18,000	-17,000	-8,000	-53,000	-19,000	-20,000	-1,000	127,000	42,000	242,000	37,000	123,000	179,000	1,000	225,000	16,000	17,000	15,000	-51,000	0	0	0	-	-	-	0
Other assets
-57,000	1,000	45,000	60,000	6,000	37,000	232,000	175,000	206,000	199,000	-18,000	-1,000	-7,000	-34,000	1,000	-4,000	16,000	10,000	14,000	17,000	12,000	-13,000	65,000	51,000	94,000	141,000	-188,000	-6,000	-243,000	-44,000	114,000	-14,000	262,000	94,000	233,000	268,000	198,000	216,000	-204,000	-252,000	-91,000	-118,000	0	0	0
Accounts payable and accrued liabilities
-99,000	120,000	-100,000	22,000	-33,000	23,000	73,000	65,000	162,000	87,000	95,000	131,000	79,000	55,000	-58,000	-74,000	39,000	-125,000	2,000	-23,000	-130,000	45,000	6,000	72,000	100,000	106,000	45,000	35,000	-21,000	-210,000	-190,000	-258,000	-96,000	108,000	68,000	-370,000	-51,000	-55,000	90,000	572,000	206,000	124,000	0	0	0
Accrued compensation and employee benefits
-138,000	154,000	99,000	12,000	87,000	68,000	29,000	28,000	46,000	63,000	73,000	68,000	45,000	2,000	-7,000	37,000	19,000	23,000	-24,000	-12,000	4,000	167,000	143,000	127,000	-45,000	-8,000	-31,000	-59,000	47,000	72,000	119,000	45,000	32,000	107,000	68,000	45,000	42,000	-13,000	9,000	16,000	39,000	92,000	0	0	0
Accrued income taxes
37,000	42,000	93,000	-52,000	-5,000	-40,000	-53,000	10,000	42,000	37,000	-9,000	-11,000	61,000	-21,000	111,000	-17,000	-11,000	-15,000	-87,000	9,000	-25,000	33,000	63,000	51,000	32,000	43,000	-5,000	48,000	66,000	44,000	77,000	7,000	38,000	1,000	67,000	113,000	49,000	32,000	-22,000	-63,000	-151,000	-95,000	0	0	0
Contributions to pension and other benefit plans in excess of current year credit
374,000	369,000	310,000	285,000	275,000	291,000	370,000	421,000	447,000	457,000	402,000	354,000	318,000	279,000	267,000	221,000	164,000	231,000	189,000	183,000	193,000	152,000	173,000	180,000	175,000	432,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other liabilities
-252,000	-172,000	-151,000	55,000	34,000	9,000	334,000	387,000	469,000	406,000	-11,000	-78,000	-72,000	-97,000	35,000	-11,000	-52,000	-60,000	-219,000	-216,000	-190,000	-196,000	-52,000	-48,000	-35,000	8,000	-297,000	-132,000	-149,000	-81,000	140,000	36,000	8,000	32,000	65,000	-125,000	-110,000	-145,000	-668,000	-483,000	-359,000	-487,000	0	0	0
Operating lease liabilities
-340,000	-327,000	-240,000	-155,000	-73,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Effect of exchange rate changes
-104,000	-115,000	-25,000	-87,000	60,000	18,000	-7,000	-91,000	-149,000	-96,000	-71,000	27,000	67,000	104,000	76,000	69,000	5,000	70,000	98,000	96,000	151,000	73,000	-2,000	-19,000	-56,000	-32,000	-62,000	-3,000	-19,000	-35,000	-27,000	-102,000	-61,000	-12,000	15,000	78,000	49,000	-79,000	-93,000	-135,000	-6,000	41,000	0	0	0
Net cash used for operations
1,999,000	2,361,000	2,400,000	2,256,000	2,516,000	2,428,000	2,075,000	1,963,000	1,928,000	1,893,000	2,032,000	2,121,000	2,189,000	2,007,000	2,011,000	2,005,000	1,830,000	1,888,000	1,967,000	1,973,000	1,976,000	2,119,000	1,907,000	1,762,000	1,554,000	1,341,000	1,147,000	1,093,000	1,232,000	1,322,000	1,460,000	1,441,000	1,578,000	1,705,000	1,667,000	780,000	597,000	722,000	285,000	1,148,000	839,000	640,000	0	0	0
Financing cash flows:
Payments for Repurchase of Common Stock
-	-	-	-	-	675,000	975,000	1,000,000	950,000	900,000	775,000	790,000	800,000	800,000	700,000	1,035,000	1,300,000	1,400,000	1,525,000	1,225,000	1,000,000	800,000	750,000	650,000	550,000	550,000	450,000	380,000	330,000	230,000	0	0	0	-	-	-	-	-	-	-	-	-	-	0	0
Net increase in commercial paper
0	-	0	0	0	-	0	0	149,000	-	0	0	0	-	-	0	0	-	-	0	0	-	-	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Borrowings from term-loan and credit facilities
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of debt
-3,000	6,459,000	6,458,000	6,458,000	6,461,000	591,000	592,000	592,000	592,000	987,000	987,000	987,000	987,000	347,000	348,000	944,000	945,000	1,091,000	1,083,000	1,285,000	1,879,000	1,386,000	1,394,000	1,092,000	497,000	547,000	546,000	50,000	50,000	248,000	248,000	744,000	744,000	496,000	0	0	0	-	-	-	-	398,000	0	0	0
Repayments of debt
1,564,000	1,064,000	1,013,000	714,000	263,000	263,000	12,000	65,000	313,000	315,000	316,000	262,000	14,000	12,000	62,000	62,000	62,000	61,000	12,000	331,000	330,000	331,000	330,000	10,000	11,000	260,000	259,000	260,000	259,000	259,000	260,000	259,000	261,000	11,000	10,000	561,000	559,000	559,000	559,000	8,000	408,000	408,000	0	0	0
Purchase of non-controlling interests
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition-related derivative payments
208,000	337,000	337,000	337,000	129,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Shares withheld for taxes on vested units – treasury shares
115,000	89,000	94,000	92,000	92,000	67,000	62,000	63,000	62,000	49,000	50,000	49,000	50,000	39,000	39,000	39,000	39,000	49,000	56,000	57,000	62,000	64,000	61,000	66,000	63,000	79,000	79,000	254,000	246,000	97,000	275,000	90,000	94,000	93,000	-95,000	-102,000	-104,000	-59,000	0	0	0	-	-	-	-
Issuance of common stock from treasury shares
125,000	158,000	153,000	153,000	138,000	93,000	104,000	120,000	125,000	166,000	168,000	151,000	169,000	188,000	199,000	208,000	212,000	224,000	252,000	274,000	275,000	263,000	288,000	282,000	309,000	352,000	351,000	359,000	306,000	248,000	190,000	145,000	150,000	162,000	136,000	135,000	120,000	41,000	34,000	32,000	33,000	34,000	0	0	0
Payments of deferred and contingent consideration for acquisitions
65,000	65,000	71,000	71,000	76,000	117,000	115,000	124,000	172,000	136,000	129,000	132,000	93,000	98,000	103,000	72,000	56,000	49,000	69,000	71,000	67,000	55,000	29,000	28,000	26,000	9,000	18,000	21,000	20,000	30,000	36,000	30,000	29,000	16,000	0	0	0	-	-	-	-	-	-	-	-
Distributions of non-controlling interests
30,000	16,000	33,000	34,000	28,000	30,000	23,000	20,000	27,000	22,000	23,000	23,000	16,000	21,000	25,000	26,000	35,000	30,000	24,000	22,000	20,000	20,000	0	0	0	-	-	-	-	-	-	-	-	-	6,000	6,000	-2,000	0	-9,000	-9,000	-9,000	0	0	0	0
Distributions of non-controlling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid
912,000	890,000	868,000	846,000	828,000	807,000	789,000	772,000	754,000	740,000	723,000	707,000	696,000	682,000	668,000	656,000	642,000	632,000	621,000	609,000	596,000	582,000	568,000	553,000	543,000	533,000	522,000	510,000	503,000	497,000	491,000	487,000	484,000	480,000	477,000	466,000	460,000	452,000	442,000	445,000	438,000	431,000	0	0	0
Net cash provided by financing activities
-2,180,000	3,306,000	3,774,000	4,246,000	5,222,000	-1,310,000	-1,229,000	-1,257,000	-1,412,000	-1,009,000	-811,000	-675,000	-615,000	-1,067,000	-1,050,000	-788,000	-725,000	-906,000	-1,737,000	-1,471,000	-786,000	-968,000	-354,000	-233,000	-588,000	-834,000	-459,000	-865,000	-852,000	-633,000	-640,000	-896,000	-1,024,000	-1,007,000	-1,090,000	-1,336,000	-1,102,000	-1,130,000	-1,037,000	-491,000	-880,000	-464,000	0	0	0
Investing cash flows:
Capital expenditures
466,000	421,000	376,000	340,000	329,000	314,000	307,000	293,000	298,000	302,000	296,000	283,000	264,000	253,000	250,000	263,000	285,000	325,000	332,000	342,000	360,000	368,000	398,000	411,000	412,000	401,000	359,000	363,000	357,000	320,000	324,000	287,000	264,000	280,000	283,000	270,000	258,000	271,000	289,000	305,000	316,000	305,000	0	0	0
Net sales of long-term investments
-125,000	-183,000	-198,000	-209,000	-110,000	-4,000	-7,000	28,000	15,000	13,000	15,000	-18,000	-15,000	-2,000	6,000	-21,000	-20,000	65,000	-60,000	86,000	81,000	-6,000	114,000	-13,000	-1,000	-93,000	-84,000	-110,000	-117,000	-20,000	-24,000	-21,000	-57,000	-62,000	-97,000	-67,000	-72,000	-91,000	-94,000	-102,000	-66,000	-53,000	0	0	0
Purchase of equity investment
3,000	91,000	91,000	91,000	88,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sales of fixed assets
9,000	10,000	4,000	4,000	3,000	3,000	7,000	5,000	8,000	8,000	3,000	7,000	4,000	4,000	5,000	2,000	2,000	2,000	3,000	3,000	3,000	3,000	5,000	4,000	5,000	5,000	4,000	7,000	6,000	6,000	3,000	3,000	3,000	3,000	7,000	-1,000	6,000	6,000	3,000	11,000	7,000	7,000	0	0	0
Dispositions
236,000	229,000	330,000	271,000	107,000	110,000	5,000	4,000	3,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	5,000	1,000	1,000	3,000	0	1,000	1,000	-1,000	0	9,000	1,084,000	1,093,000	1,202,000	0	0	0	-	-	-	-
Payments to Acquire Businesses, Net of Cash Acquired
5,565,000	5,505,000	5,848,000	6,240,000	1,000,000	884,000	562,000	387,000	268,000	655,000	1,354,000	1,148,000	1,149,000	813,000	609,000	769,000	1,011,000	952,000	569,000	431,000	251,000	554,000	450,000	434,000	460,000	142,000	247,000	254,000	233,000	292,000	256,000	253,000	193,000	237,000	378,000	407,000	399,000	492,000	314,000	265,000	268,000	73,000	0	0	0
Other, net
65,000	76,000	58,000	53,000	9,000	8,000	-1,000	-2,000	-5,000	-6,000	-5,000	-2,000	-3,000	-4,000	-9,000	-11,000	-6,000	-4,000	7,000	9,000	7,000	5,000	8,000	7,000	6,000	6,000	-4,000	-6,000	-5,000	-3,000	1,000	5,000	7,000	5,000	7,000	6,000	5,000	1,000	-7,000	-4,000	-10,000	-7,000	0	0	0
Net cash used for investing activities
-5,729,000	-5,671,000	-5,841,000	-6,240,000	-1,206,000	-1,089,000	-849,000	-697,000	-565,000	-956,000	-1,657,000	-1,404,000	-1,391,000	-1,056,000	-780,000	-927,000	-1,197,000	-1,265,000	-1,149,000	-1,169,000	-1,000,000	-1,222,000	-963,000	-833,000	-870,000	-446,000	-513,000	-493,000	-459,000	-583,000	-553,000	-520,000	-405,000	-457,000	-555,000	467,000	509,000	535,000	695,000	-329,000	-316,000	-236,000	0	0	0
Effect of exchange rate changes on cash and cash equivalents
-86,000	93,000	-71,000	-4,000	-224,000	-168,000	-124,000	61,000	287,000	251,000	126,000	-50,000	-171,000	-232,000	-123,000	-246,000	-94,000	-301,000	-400,000	-408,000	-466,000	-274,000	-115,000	79,000	21,000	-59,000	-45,000	-9,000	-68,000	82,000	63,000	-180,000	-69,000	-22,000	-3,000	238,000	159,000	-10,000	-61,000	-109,000	110,000	152,000	0	0	0
Increase in cash and cash equivalents and cash held in escrow
-5,996,000	89,000	262,000	258,000	6,308,000	-139,000	-127,000	70,000	238,000	179,000	-310,000	-8,000	12,000	-348,000	58,000	44,000	-186,000	-584,000	-1,319,000	-1,075,000	-276,000	-345,000	475,000	775,000	117,000	2,000	130,000	-274,000	-147,000	188,000	330,000	-155,000	80,000	219,000	19,000	149,000	163,000	117,000	-118,000	219,000	-247,000	92,000	0	0	0