| 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 | Sep'09 | Jun'09 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Investment income | ||||||||||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | 3,000 | 4,000 | 4,000 | 4,000 | 5,000 | 5,000 | 8,000 | 7,000 | 8,000 | 8,000 | 9,000 | 10,000 | 10,000 | 9,000 | 10,000 | 12,000 |
Other income | ||||||||||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 1,000 | 3,000 | 4,000 | 0 | 2,000 | 1,000 | 0 | 1,000 | 0 | 3,000 | - | - | 1,000 | - | - | - | - | 0 | 1,000 | - |
Revenue | ||||||||||||||||||||||||||||||||||||||||||
2,466,000 | 2,690,000 | 1,989,000 | 2,048,000 | 2,312,000 | 2,372,000 | 1,859,000 | 1,990,000 | 2,292,000 | 2,078,000 | 1,852,000 | 1,953,000 | 2,319,000 | 1,927,000 | 1,777,000 | 1,949,000 | 2,234,000 | 974,000 | 846,000 | 922,000 | 1,087,000 | 958,000 | 812,000 | 935,000 | 1,097,000 | 919,000 | 795,000 | 890,000 | 1,051,000 | 871,000 | 754,000 | 842,000 | 1,013,000 | 819,000 | 760,000 | 861,000 | 1,007,000 | 828,000 | 733,000 | 799,000 | 972,000 | 725,000 | 784,000 |
Commissions and fees | ||||||||||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,761,000 | 1,894,000 | 2,219,000 | 970,000 | 841,000 | 917,000 | 1,081,000 | 939,000 | 808,000 | 930,000 | 1,090,000 | 911,000 | 791,000 | 885,000 | 1,046,000 | 867,000 | 749,000 | 837,000 | 1,005,000 | 810,000 | 753,000 | 852,000 | 999,000 | 818,000 | 723,000 | 789,000 | 963,000 | 714,000 | 772,000 |
Interest and other income | ||||||||||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 16,000 | 55,000 | 15,000 | 4,000 | 5,000 | 5,000 | 6,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Costs of providing services | ||||||||||||||||||||||||||||||||||||||||||
Salaries and benefits | ||||||||||||||||||||||||||||||||||||||||||
1,394,000 | 1,340,000 | 1,283,000 | 1,278,000 | 1,348,000 | 1,233,000 | 1,238,000 | 1,275,000 | 1,377,000 | 1,291,000 | 1,212,000 | 1,211,000 | 1,253,000 | 1,333,000 | 1,119,000 | 1,201,000 | 1,196,000 | 605,000 | 570,000 | 561,000 | 567,000 | 600,000 | 569,000 | 575,000 | 570,000 | 569,000 | 541,000 | 529,000 | 568,000 | 967,000 | 502,000 | 500,000 | 506,000 | 510,000 | 489,000 | 505,000 | 583,000 | 464,000 | 462,000 | 456,000 | 486,000 | 449,000 | 443,000 |
Other operating expenses | ||||||||||||||||||||||||||||||||||||||||||
484,000 | 472,000 | 417,000 | 412,000 | 418,000 | 434,000 | 374,000 | 406,000 | 423,000 | 376,000 | 366,000 | 391,000 | 401,000 | 377,000 | 370,000 | 373,000 | 431,000 | 202,000 | 177,000 | 179,000 | 160,000 | 165,000 | 156,000 | 173,000 | 165,000 | 166,000 | 149,000 | 159,000 | 162,000 | 169,000 | 146,000 | 129,000 | 156,000 | 194,000 | 146,000 | 164,000 | 152,000 | 151,000 | 129,000 | 135,000 | 149,000 | 151,000 | 139,000 |
Depreciation | ||||||||||||||||||||||||||||||||||||||||||
98,000 | 69,000 | 58,000 | 59,000 | 54,000 | 55,000 | 53,000 | 51,000 | 49,000 | 52,000 | 54,000 | 51,000 | 46,000 | 46,000 | 45,000 | 44,000 | 43,000 | 25,000 | 25,000 | 23,000 | 22,000 | 22,000 | 23,000 | 24,000 | 23,000 | 26,000 | 21,000 | 21,000 | 26,000 | 20,000 | 21,000 | 19,000 | 19,000 | 18,000 | 17,000 | 19,000 | 20,000 | 18,000 | 14,000 | 16,000 | 15,000 | 15,000 | 14,000 |
Amortization | ||||||||||||||||||||||||||||||||||||||||||
121,000 | 121,000 | 118,000 | 123,000 | 127,000 | 126,000 | 127,000 | 140,000 | 141,000 | 140,000 | 141,000 | 149,000 | 151,000 | 148,000 | 157,000 | 125,000 | 161,000 | 23,000 | 23,000 | 16,000 | 14,000 | 16,000 | 13,000 | 12,000 | 13,000 | 13,000 | 14,000 | 14,000 | 14,000 | 15,000 | 14,000 | 15,000 | 15,000 | 16,000 | 18,000 | 17,000 | 17,000 | 18,000 | 22,000 | 21,000 | 21,000 | 29,000 | 23,000 |
Restructuring costs | ||||||||||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | 47,000 | 31,000 | 27,000 | 27,000 | 78,000 | 49,000 | 41,000 | 25,000 | 33,000 | 24,000 | 38,000 | 31,000 | 16,000 | 17,000 | 3,000 | 0 | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Transaction and integration expenses | ||||||||||||||||||||||||||||||||||||||||||
9,000 | 1,000 | 6,000 | 0 | 6,000 | 54,000 | 50,000 | 55,000 | 43,000 | 92,000 | 74,000 | 63,000 | 40,000 | 60,000 | 36,000 | 29,000 | 52,000 | 84,000 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total costs of providing services | ||||||||||||||||||||||||||||||||||||||||||
2,106,000 | 2,003,000 | 1,882,000 | 1,872,000 | 1,953,000 | 1,902,000 | 1,842,000 | 1,927,000 | 2,033,000 | 1,998,000 | 1,878,000 | 1,892,000 | 1,918,000 | 2,042,000 | 1,776,000 | 1,813,000 | 1,908,000 | 972,000 | 819,000 | 817,000 | 794,000 | 819,000 | 778,000 | 787,000 | 771,000 | 774,000 | 725,000 | 723,000 | 770,000 | 1,662,000 | 684,000 | 663,000 | 696,000 | 738,000 | 670,000 | 705,000 | 768,000 | 651,000 | 627,000 | 630,000 | 671,000 | 643,000 | 619,000 |
Net gain (loss) on disposal of operations | ||||||||||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -1,000 | 0 | 0 | 0 | 0 | 0 | 4,000 | - | - | -2,000 | - | 1,000 | - |
Income from operations | ||||||||||||||||||||||||||||||||||||||||||
360,000 | 687,000 | 107,000 | 176,000 | 359,000 | 470,000 | 17,000 | 63,000 | 259,000 | 80,000 | -26,000 | 61,000 | 401,000 | -115,000 | 1,000 | 136,000 | 326,000 | 2,000 | 27,000 | 105,000 | 293,000 | 139,000 | 34,000 | 148,000 | 326,000 | 145,000 | 70,000 | 167,000 | 281,000 | -791,000 | 70,000 | 179,000 | 317,000 | 81,000 | 90,000 | 156,000 | 239,000 | 177,000 | 106,000 | 169,000 | 301,000 | 82,000 | 165,000 |
Make-whole on repurchase and redemption of senior notes and write-off of unamortized debt issuance costs | ||||||||||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | 0 | 171,000 | - | - | - | - | - | - |
Loss on extinguishment of debt | ||||||||||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -60,000 | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
Interest expense | ||||||||||||||||||||||||||||||||||||||||||
61,000 | 62,000 | 62,000 | 56,000 | 54,000 | 54,000 | 51,000 | 52,000 | 51,000 | 49,000 | 47,000 | 46,000 | 46,000 | 46,000 | 45,000 | 47,000 | 46,000 | 39,000 | 35,000 | 35,000 | 33,000 | 34,000 | 34,000 | 35,000 | 32,000 | 33,000 | 30,000 | 32,000 | 31,000 | 31,000 | 32,000 | 33,000 | 32,000 | 44,000 | 38,000 | 34,000 | 40,000 | 42,000 | 40,000 | 41,000 | 43,000 | 47,000 | 43,000 |
Other income, net | ||||||||||||||||||||||||||||||||||||||||||
92,000 | 50,000 | 55,000 | 67,000 | 55,000 | 61,000 | 70,000 | 63,000 | 56,000 | 49,000 | 38,000 | 34,000 | 43,000 | 204,000 | -14,000 | 6,000 | -18,000 | 29,000 | 9,000 | 23,000 | -6,000 | 18,000 | -9,000 | -3,000 | 0 | 7,000 | 5,000 | 4,000 | 6,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
INCOME FROM OPERATIONS BEFORE INCOME TAXES | ||||||||||||||||||||||||||||||||||||||||||
391,000 | 675,000 | 100,000 | 187,000 | 360,000 | 477,000 | 36,000 | 74,000 | 264,000 | 80,000 | -35,000 | 49,000 | 398,000 | 43,000 | -58,000 | 95,000 | 262,000 | -8,000 | 1,000 | 93,000 | 254,000 | 123,000 | -9,000 | 110,000 | 294,000 | 119,000 | -15,000 | 139,000 | 256,000 | -806,000 | 38,000 | 146,000 | 285,000 | 37,000 | 52,000 | 122,000 | 28,000 | 135,000 | 66,000 | 128,000 | 258,000 | 35,000 | 122,000 |
Provision for income taxes | ||||||||||||||||||||||||||||||||||||||||||
78,000 | 124,000 | 20,000 | 38,000 | 67,000 | 94,000 | -10,000 | 9,000 | 43,000 | -173,000 | 19,000 | 8,000 | 46,000 | -107,000 | -26,000 | 19,000 | 18,000 | 4,000 | -112,000 | 19,000 | 56,000 | 35,000 | 2,000 | 59,000 | 63,000 | 34,000 | 11,000 | 29,000 | 48,000 | -13,000 | 10,000 | 36,000 | 68,000 | -2,000 | 2,000 | 31,000 | 1,000 | 28,000 | 10,000 | 35,000 | 67,000 | -29,000 | 31,000 |
INCOME FROM OPERATIONS BEFORE INTEREST IN EARNINGS OF ASSOCIATES | ||||||||||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 88,000 | -11,000 | 51,000 | 231,000 | 85,000 | -26,000 | 110,000 | 208,000 | -793,000 | 28,000 | 110,000 | 217,000 | 39,000 | 50,000 | 91,000 | 27,000 | 107,000 | 56,000 | 93,000 | 191,000 | 64,000 | 91,000 |
(LOSS)/INCOME FROM OPERATIONS BEFORE INTEREST IN EARNINGS OF ASSOCIATES | ||||||||||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | -32,000 | 76,000 | 244,000 | - | 113,000 | 74,000 | 198,000 | - | - | - | - | - | - | - | - | - | 26,000 | 109,000 | - | 28,000 | 60,000 | 88,000 | 43,000 | - | - | - | - | 80,000 | 91,000 |
Interest in earnings of associates, net of tax | ||||||||||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,000 | 0 | 1,000 | -6,000 | 3,000 | -2,000 | 16,000 | -5,000 | 3,000 | -3,000 | 19,000 | -11,000 | -1,000 | -3,000 | 15,000 | -7,000 | -2,000 | -1,000 | 15,000 | -11,000 | 10,000 | -3,000 | 16,000 | -4,000 | 9,000 | -2,000 | 20,000 | 16,000 | - |
Discontinued operations, net of tax | ||||||||||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 1,000 | - | - | - | 1,000 | -1,000 | - | - | - | - | 1,000 | - |
NET INCOME | ||||||||||||||||||||||||||||||||||||||||||
313,000 | 551,000 | 80,000 | 149,000 | 293,000 | 383,000 | 46,000 | 65,000 | 221,000 | 253,000 | -54,000 | 41,000 | 352,000 | 148,000 | -31,000 | 76,000 | 245,000 | -18,000 | 116,000 | 72,000 | 214,000 | 83,000 | -8,000 | 48,000 | 250,000 | 74,000 | -27,000 | 107,000 | 223,000 | -801,000 | 26,000 | 110,000 | 232,000 | 29,000 | 60,000 | 89,000 | 42,000 | 103,000 | 65,000 | 91,000 | 211,000 | 81,000 | 91,000 |
Income attributable to non-controlling interests | ||||||||||||||||||||||||||||||||||||||||||
8,000 | 7,000 | 5,000 | 11,000 | 6,000 | 5,000 | 2,000 | 7,000 | 6,000 | 8,000 | 0 | 8,000 | 8,000 | 6,000 | 1,000 | 4,000 | 7,000 | 6,000 | -1,000 | 2,000 | 4,000 | 7,000 | -1,000 | 1,000 | 4,000 | 6,000 | 0 | 2,000 | 4,000 | 4,000 | 0 | 2,000 | 7,000 | 4,000 | 0 | 4,000 | 8,000 | 5,000 | 1,000 | 2,000 | 7,000 | 2,000 | 4,000 |
NET INCOME ATTRIBUTABLE TO WILLIS TOWERS WATSON | ||||||||||||||||||||||||||||||||||||||||||
305,000 | 544,000 | 75,000 | 138,000 | 287,000 | 378,000 | 44,000 | 58,000 | 215,000 | 245,000 | -54,000 | 33,000 | 344,000 | 142,000 | -32,000 | 72,000 | 238,000 | -24,000 | 117,000 | 70,000 | 210,000 | 76,000 | -7,000 | 47,000 | 246,000 | 68,000 | -27,000 | 105,000 | 219,000 | -805,000 | 26,000 | 108,000 | 225,000 | 25,000 | 60,000 | 85,000 | 34,000 | 98,000 | 64,000 | 89,000 | 204,000 | 79,000 | 87,000 |
AMOUNTS ATTRIBUTABLE TO WILLIS GROUP HOLDINGS SHAREHOLDERS | ||||||||||||||||||||||||||||||||||||||||||
Income (loss) from continuing operations, net of tax | ||||||||||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 26,000 | 107,000 | - | 24,000 | 60,000 | 84,000 | 35,000 | - | - | - | - | 78,000 | 87,000 |
Income from discontinued operations, net of tax | ||||||||||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 1,000 | - | - | - | 1,000 | -1,000 | - | - | - | - | 1,000 | - |
NET (INCOME) LOSS ATTRIBUTABLE TO WILLIS GROUP HOLDINGS | ||||||||||||||||||||||||||||||||||||||||||
305,000 | 544,000 | 75,000 | 138,000 | 287,000 | 378,000 | 44,000 | 58,000 | 215,000 | 245,000 | -54,000 | 33,000 | 344,000 | - | -32,000 | 72,000 | - | - | - | - | - | - | -7,000 | 47,000 | 246,000 | 68,000 | -27,000 | 105,000 | 219,000 | -805,000 | 26,000 | 108,000 | 225,000 | 25,000 | 60,000 | 85,000 | 34,000 | 98,000 | 64,000 | 89,000 | 204,000 | 79,000 | 87,000 |
EARNINGS PER SHARE | ||||||||||||||||||||||||||||||||||||||||||
Basic earnings per share | ||||||||||||||||||||||||||||||||||||||||||
2.36 | 4.20 | 0.58 | 1.06 | 2.21 | 2.89 | 0.34 | 0.44 | 1.62 | 1.86 | -0.40 | 0.24 | 2.51 | 1.02 | -0.23 | 0.52 | 1.76 | -0.35 | 1.72 | 1.03 | 3.09 | 3.81 | -0.04 | 0.26 | 1.37 | 3.81 | -0.15 | 0.60 | 1.27 | -4.64 | 0.15 | 0.62 | 1.29 | 0.13 | 0.35 | 0.49 | 0.20 | 0.57 | 0.38 | 0.52 | 1.21 | 0.46 | 0.52 |
Diluted earnings per share | ||||||||||||||||||||||||||||||||||||||||||
2.34 | 4.18 | 0.58 | 1.06 | 2.20 | 2.89 | 0.33 | 0.44 | 1.61 | 1.84 | -0.40 | 0.24 | 2.50 | 1.01 | -0.23 | 0.51 | 1.75 | -0.34 | 1.70 | 1.01 | 3.04 | 3.75 | -0.04 | 0.26 | 1.35 | 3.69 | -0.15 | 0.59 | 1.24 | -4.62 | 0.15 | 0.61 | 1.28 | 0.13 | 0.34 | 0.48 | 0.20 | 0.57 | 0.37 | 0.52 | 1.20 | 0.46 | 0.52 |
NET INCOME | ||||||||||||||||||||||||||||||||||||||||||
313,000 | 551,000 | 80,000 | 149,000 | 293,000 | 383,000 | 46,000 | 65,000 | 221,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash dividends declared per share (usd per share) | ||||||||||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | 0.53 | 0.53 | - | 0.48 | 0.48 | 0.48 | 0.82 | 0.82 | 0.82 | 0.82 | 2.28 | 0.30 | 0.30 | 0.30 | 2.13 | 0.28 | 0.28 | 0.28 | 0.27 | 0.27 | 0.27 | 0.27 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 |
Other comprehensive (loss)/income, net of tax: | ||||||||||||||||||||||||||||||||||||||||||
Comprehensive income before non-controlling interests | ||||||||||||||||||||||||||||||||||||||||||
93,000 | 438,000 | -42,000 | 132,000 | 315,000 | 49,000 | 24,000 | -111,000 | 305,000 | 430,000 | 34,000 | 181,000 | 331,000 | -525,000 | -73,000 | -62,000 | 231,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 7,000 | - | - | - | - | - | - | - | - |
Comprehensive income attributable to non-controlling interests | ||||||||||||||||||||||||||||||||||||||||||
7,000 | 8,000 | 3,000 | 13,000 | 5,000 | 5,000 | 2,000 | 6,000 | 7,000 | 22,000 | -12,000 | 16,000 | 11,000 | -4,000 | -1,000 | -6,000 | 9,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -2,000 | - | - | - | - | - | - | - | - |
Comprehensive income attributable to Willis Towers Watson | ||||||||||||||||||||||||||||||||||||||||||
86,000 | 430,000 | -45,000 | 119,000 | 310,000 | 44,000 | 22,000 | -117,000 | 298,000 | 408,000 | 46,000 | 165,000 | 320,000 | -521,000 | -72,000 | -56,000 | 222,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 9,000 | 106,000 | 66,000 | - | - | - | - | - | - |