| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Investment income | |||||||||||
- | - | - | - | - | - | 15 | 18 | 31 | 38 | 50 | 81 |
Other income | |||||||||||
- | - | - | - | - | - | 7 | 4 | 2 | 1 | 3 | 2 |
Revenue | |||||||||||
9,039 | 8,513 | 8,202 | 7,887 | 3,829 | 3,802 | 3,655 | 3,480 | 3,447 | 3,332 | 3,253 | 2,827 |
Commissions and fees | |||||||||||
- | - | - | - | 3,809 | 3,767 | 3,633 | 3,458 | 3,414 | 3,293 | 3,200 | 2,744 |
Interest and other income | |||||||||||
- | - | - | - | 20 | 35 | - | - | - | - | - | - |
Costs of providing services | |||||||||||
Salaries and benefits | |||||||||||
5,249 | 5,123 | 4,967 | 4,849 | 2,303 | 2,314 | 2,207 | 2,475 | 2,087 | 1,868 | 1,822 | 1,638 |
Other operating expenses | |||||||||||
1,719 | 1,637 | 1,534 | 1,551 | 718 | 659 | 636 | 600 | 656 | 564 | 590 | 603 |
Depreciation | |||||||||||
240 | 208 | 203 | 178 | 95 | 92 | 94 | 79 | 74 | 63 | 64 | 54 |
Gain on disposal of London headquarters | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 7 |
Amortization | |||||||||||
489 | 534 | 581 | 591 | 76 | 54 | 55 | 59 | 68 | 82 | 100 | 36 |
Restructuring costs | |||||||||||
0 | 0 | 132 | 193 | 126 | 36 | 0 | 0 | - | - | - | - |
Transaction and integration expenses | |||||||||||
13 | 202 | 269 | 177 | 84 | 0 | - | - | - | - | - | - |
Total costs of providing services | |||||||||||
7,710 | 7,704 | 7,686 | 7,539 | 3,402 | 3,155 | 2,992 | 3,705 | 2,881 | 2,579 | 2,563 | 2,324 |
Goodwill impairment charge | |||||||||||
- | - | - | - | - | - | - | 492 | 0 | 0 | - | - |
Net gain (loss) on disposal of operations | |||||||||||
- | - | - | - | - | - | - | - | 4 | -2 | 13 | - |
Income from operations | |||||||||||
1,329 | 809 | 516 | 348 | 427 | 647 | 663 | -225 | 566 | 753 | 690 | 503 |
Make-whole on repurchase and redemption of senior notes and write-off of unamortized debt issuance costs | |||||||||||
- | - | - | - | - | - | - | - | 171 | 0 | - | - |
Loss on extinguishment of debt | |||||||||||
- | - | - | - | - | - | -60 | 0 | 0 | - | - | - |
Interest expense | |||||||||||
234 | 208 | 188 | 184 | 142 | 135 | 126 | 128 | 156 | 166 | 174 | 105 |
Other income, net | |||||||||||
227 | 250 | 164 | 178 | 55 | 6 | 22 | 16 | - | - | - | - |
INCOME FROM OPERATIONS BEFORE INCOME TAXES | |||||||||||
1,322 | 851 | 492 | 342 | 340 | 518 | 499 | -337 | 239 | 587 | 516 | 398 |
Provision for income taxes | |||||||||||
249 | 136 | -100 | -96 | -33 | 159 | 122 | 101 | 32 | 140 | 94 | 97 |
INCOME FROM OPERATIONS BEFORE INTEREST IN EARNINGS OF ASSOCIATES | |||||||||||
- | - | - | - | 373 | 359 | 377 | -438 | 207 | 447 | 422 | 301 |
(LOSS)/INCOME FROM OPERATIONS BEFORE INTEREST IN EARNINGS OF ASSOCIATES | |||||||||||
- | - | - | - | - | - | - | - | 219 | 470 | 455 | 323 |
Interest in earnings of associates, net of tax | |||||||||||
- | - | - | - | 11 | 14 | 0 | 5 | 12 | 23 | 33 | 22 |
Discontinued operations, net of tax | |||||||||||
- | - | - | - | - | - | - | - | 1 | 0 | 4 | 1 |
NET INCOME | |||||||||||
1,073 | 715 | 592 | 438 | 384 | 373 | 377 | -433 | 220 | 470 | 459 | 324 |
Income attributable to non-controlling interests | |||||||||||
29 | 20 | 24 | 18 | 11 | 11 | 12 | 13 | 16 | 15 | 21 | 21 |
NET INCOME ATTRIBUTABLE TO WILLIS TOWERS WATSON | |||||||||||
1,044 | 695 | 568 | 420 | 373 | 362 | 365 | -446 | 204 | 455 | 438 | 303 |
AMOUNTS ATTRIBUTABLE TO WILLIS GROUP HOLDINGS SHAREHOLDERS | |||||||||||
Income (loss) from continuing operations, net of tax | |||||||||||
- | - | - | - | - | - | - | - | 203 | 455 | 434 | 302 |
Income from discontinued operations, net of tax | |||||||||||
- | - | - | - | - | - | - | - | 1 | 0 | 4 | 1 |
NET (INCOME) LOSS ATTRIBUTABLE TO WILLIS GROUP HOLDINGS | |||||||||||
1,044 | 695 | 568 | 420 | 373 | - | 365 | -446 | 204 | 455 | 438 | 303 |
EARNINGS PER SHARE | |||||||||||
Basic earnings per share | |||||||||||
8.05 | 5.29 | 4.21 | 3.07 | 5.49 | 5.40 | 5.53 | -2.58 | 1.17 | 2.68 | 2.58 | 2.04 |
Diluted earnings per share | |||||||||||
8.02 | 5.27 | 4.18 | 3.04 | 5.41 | 5.32 | 5.37 | -2.58 | 1.15 | 2.66 | 2.57 | 2.04 |
NET INCOME | |||||||||||
1,073 | 715 | 592 | 438 | - | - | - | - | - | - | - | - |
Cash dividends declared per share (usd per share) | |||||||||||
- | - | - | - | 3.28 | 3.18 | 2.97 | 1.08 | 1.04 | 1.04 | 1.04 | 1.04 |
Other comprehensive (loss)/income, net of tax: | |||||||||||
Foreign currency translation | |||||||||||
78 | -251 | 295 | -353 | -133 | - | - | - | - | - | - | - |
Defined pension and post-retirement benefits | |||||||||||
329 | 199 | -14 | 439 | -180 | - | - | - | - | - | - | - |
Derivative instruments | |||||||||||
21 | 2 | 75 | -75 | -28 | - | - | - | - | - | - | - |
Other comprehensive (loss)/income, net of tax, before non-controlling interests | |||||||||||
-230 | -448 | 384 | -867 | 19 | - | - | - | - | - | - | - |
Comprehensive income before non-controlling interests | |||||||||||
843 | 267 | 976 | -429 | 403 | - | - | - | - | - | - | - |
Comprehensive income attributable to non-controlling interests | |||||||||||
29 | 20 | 37 | -2 | 1 | - | - | - | - | - | - | - |
Comprehensive income attributable to Willis Towers Watson | |||||||||||
814 | 247 | 939 | -427 | 402 | - | - | - | - | - | - | - |