Willis Towers Watson Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	1,895	1,890	1,424	1,262	4,486	2,039
Short-Term Investments	30	-	-	-	200	-
Cash & Short-Term Investments	1,925	1,890	1,424	1,262	4,686	2,039
Cash Growth	40.31%	32.73%	12.84%	-73.07%	129.82%	129.88%
Accounts Receivable	2,189	2,494	2,572	2,387	2,370	2,408
Other Receivables	210	856	92	98	93	128
Receivables	2,399	3,424	2,664	2,485	2,463	2,536
Prepaid Expenses	126	123	123	132	137	120
Restricted Cash	-	-	-	-	-	7
Other Current Assets	10,171	9,668	9,222	11,956	11,202	15,599
Total Current Assets	14,621	15,105	13,433	15,835	18,488	20,301
Property, Plant & Equipment	1,166	1,146	1,285	1,304	1,571	1,914
Long-Term Investments	232	157	88	90	55	70
Goodwill	8,936	8,799	10,195	10,173	10,183	10,392
Other Intangible Assets	1,185	1,295	2,016	2,273	2,555	2,989
Long-Term Accounts Receivable	-	-	909	745	532	327
Long-Term Deferred Tax Assets	234	238	86	68	79	95
Long-Term Deferred Charges	163	155	142	126	115	97
Other Long-Term Assets	902	786	862	1,087	1,323	2,275
Total Assets	27,439	27,681	29,090	31,769	34,970	38,531
Accounts Payable	962	1,053	1,073	329	322	857
Accrued Expenses	906	1,625	1,478	1,381	1,528	1,514
Current Portion of Long-Term Debt	550	-	650	250	613	971
Current Portion of Leases	123	123	130	130	154	155
Current Income Taxes Payable	-	105	50	83	260	97
Current Unearned Revenue	-	-	-	646	576	-
Other Current Liabilities	10,702	9,692	9,249	11,960	11,271	15,738
Total Current Liabilities	13,243	12,598	12,630	14,779	14,724	19,332
Long-Term Debt	4,763	5,309	4,567	4,471	3,974	4,664
Long-Term Leases	475	504	599	632	749	936
Pension & Post-Retirement Benefits	524	615	563	480	757	1,403
Long-Term Deferred Tax Liabilities	38	45	542	748	845	561
Other Long-Term Liabilities	586	593	596	566	613	703
Total Liabilities	19,629	19,664	19,497	21,676	21,662	27,599
Additional Paid-In Capital	11,037	10,989	10,910	10,876	10,804	10,748
Retained Earnings	-593	109	1,466	1,764	4,645	2,434
Treasury Stock	-	-	-	-3	-3	-3
Comprehensive Income & Other	-2,709	-3,158	-2,856	-2,621	-2,186	-2,359
Total Common Equity	7,735	7,940	9,520	10,016	13,260	10,820
Minority Interest	75	77	73	77	48	112
Shareholders' Equity	7,810	8,017	9,593	10,093	13,308	10,932
Total Liabilities & Equity	27,439	27,681	29,090	31,769	34,970	38,531
Total Debt	5,911	5,936	5,946	5,483	5,490	6,726
Net Cash (Debt)	-3,986	-4,046	-4,522	-4,221	-804	-4,687
Net Cash Per Share	-39.96	-39.67	-42.66	-37.69	-6.23	-36.05
Filing Date Shares Outstanding	95.75	99.69	102.48	106.58	117.75	128.97
Total Common Shares Outstanding	96.05	99.81	102.54	106.76	122.06	128.96
Working Capital	1,378	2,507	803	1,056	3,764	969
Book Value Per Share	80.53	79.55	92.84	93.82	108.64	83.90
Tangible Book Value	-2,386	-2,154	-2,691	-2,430	522	-2,561
Tangible Book Value Per Share	-24.84	-21.58	-26.24	-22.76	4.28	-19.86
Land	-	58	59	57	62	62
Machinery	-	1,492	1,527	1,452	1,477	1,467
Leasehold Improvements	-	411	459	452	527	577

Source: S&P Global Market Intelligence. Standard template. Financial Sources.