Marsh
NYSE : MRSHFinancials
Income statement · full history
USD in millions · per-share amounts unscaled. Each period shows the value from the latest filing that prints it.
| Reported line item | Jan 1, 2017 to Dec 31, 2017 | Jan 1, 2018 to Dec 31, 2018 | Jan 1, 2019 to Dec 31, 2019 | Jan 1, 2020 to Dec 31, 2020 | Jan 1, 2021 to Dec 31, 2021 | Jan 1, 2022 to Dec 31, 2022 | Jan 1, 2023 to Dec 31, 2023 | Jan 1, 2024 to Dec 31, 2024 | Jan 1, 2025 to Dec 31, 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 14,024 | 14,950 | 16,652 | 17,224 | 19,820 | 20,720 | 22,736 | 24,458 | 26,981 |
| Compensation and benefits | 8,085R | 8,605 | 9,734 | 10,129 | 11,425 | 12,071 | 13,099 | 13,996 | 15,577 |
| Other operating expenses | 3,284 | 3,584 | 4,241 | 4,029 | 4,083 | 4,369 | 4,355 | 4,645 | 5,181 |
| Operating expenses | 11,369R | 12,189 | 13,975 | 14,158 | 15,508 | 16,440 | 17,454 | 18,641 | 20,758 |
| Operating income | 2,655R | 2,761 | 2,677 | 3,066 | 4,312 | 4,280 | 5,282 | 5,817 | 6,223 |
| Other net benefits credits | 201 | 215 | 265 | 257 | 277 | 235 | 239 | 268 | 194 |
| Interest income | 9 | 11 | 39 | 7 | 2 | 15 | 78 | 83 | 48 |
| Interest expense | (237) | (290) | (524) | (515) | (444) | (469) | (578) | (700) | (960) |
| Investment income | 15 | (12) | 22 | (22) | 61 | 21 | 5 | 12 | 34 |
| Cost of extinguishment of debtno longer reported | 0 | 0 | (32) | 0 | 0 | ||||
| Income before income taxes | 2,643 | 2,244 | 2,439 | 2,793 | 4,208 | 4,082 | 5,026 | 5,480 | 5,539 |
| Acquisition related derivative contractsno longer reported | 0 | (441) | (8) | 0 | 0 | ||||
| Income tax expense | 1,133 | 574 | 666 | 747 | 1,034 | 995 | 1,224 | 1,363 | 1,305 |
| Net income before non-controlling interests | 1,512 | 1,670 | 1,773 | 2,046 | 3,174 | 3,087 | 3,802 | 4,117 | 4,234 |
| Income from continuing operationsno longer reported | 1,510 | 1,670 | 1,773 | ||||||
| Less: Net income attributable to non-controlling interests | 20 | 20 | 31 | 30 | 31 | 37 | 46 | 57 | 74 |
| Discontinued operations, net of taxno longer reported | 2 | 0 | 0 | ||||||
| Net income attributable to the Company | 1,492 | 1,650 | 1,742 | 2,016 | 3,143 | 3,050 | 3,756 | 4,060 | 4,160 |
| Basic (in dollars per share) | 2.91 | 3.26 | 3.44 | 3.98 | 6.20 | 6.11 | 7.60 | 8.26 | 8.48 |
| Continuing operations (in dollars per share)no longer reported | 2.91 | 3.26 | 3.44 | ||||||
| Diluted (in dollars per share) | 2.87 | 3.23 | 3.41 | 3.94 | 6.13 | 6.04 | 7.53 | 8.18 | 8.43 |
| Continuing operations (in dollars per share)no longer reported | 2.87 | 3.23 | 3.41 | ||||||
| Basic (in shares) | 513 | 506 | 506 | 506 | 507 | 499 | 494 | 492 | 491 |
| Diluted (in shares) | 519 | 511 | 511 | 512 | 513 | 505 | 499 | 496 | 494 |
| Shares outstanding (in shares) | — | — | — | — | — | — | — | — | — |
History starts FY2017, the period ended Dec 31, 2017 — the earliest period our structured-data source covers, not the company’s first year.
25 reported lines · 9 periods · values taken from the latest filing that prints each period.
- R3 restated by the filer — hover for the figure as first reported.
- italic12 from an earlier filing than the rest of the column.
- no longer reported6 lines the filer stopped printing.
- — the filer printed the line and left the period empty. An empty cell means the line was not printed at all; it is never a zero.
183 of 184 values link to the exact element in the filer’s own document.
Every line and every caption is the company’s own. Each period carries the value from the latest filing that prints it, which is why a restated period shows the restated number with the figure as first reported kept underneath.
Nothing on this table is computed by us: no fourth quarter, no growth rate, no margin. Marks describe the filer’s own restatements.