Marsh & McLennan Companies, Inc. (MMC)

Marsh & McLennan Cash Flow Statement

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

Year Ending	TTM	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net Income	4,011	3,756	3,050	3,143	2,016	1,742
Depreciation & Amortization	1,008	1,001	1,123	1,074	1,096	962
Share-Based Compensation	365	363	367	348	290	252
Other Operating Activities	-1,357	-862	-1,075	-1,049	-20	-595
Operating Cash Flow	4,027	4,258	3,465	3,516	3,382	2,361
Operating Cash Flow Growth	13.44%	22.89%	-1.45%	3.96%	43.24%	-2.76%
Capital Expenditures	-398	-416	-470	-406	-348	-421
Acquisitions	-1,301	-993	-453	-775	-549	-4,000
Change in Investments	-5	-19	64	13	107	92
Other Investing Activities	5	11	9	4	-3	-66
Investing Cash Flow	-1,699	-1,417	-850	-1,164	-793	-4,395
Dividends Paid	-1,413	-1,298	-1,138	-1,026	-943	-890
Share Issuance / Repurchase	-904	-951	-1,824	-998	132	-327
Debt Issued / Paid	942	1,903	619	-273	-778	5,110
Other Financing Activities	-355	-773	1,297	1,000	664	438
Financing Cash Flow	-1,730	-1,119	-1,046	-1,297	-925	4,331
Exchange Rate Effect	-183	328	-841	-355	511	135
Net Cash Flow	415	2,050	728	700	2,175	2,432
Free Cash Flow	3,629	3,842	2,995	3,110	3,034	1,940
Free Cash Flow Growth	15.79%	28.28%	-3.70%	2.50%	56.39%	-8.36%
Free Cash Flow Margin	15.36%	16.90%	14.45%	15.69%	17.61%	11.65%
Free Cash Flow Per Share	7.38	7.78	6.00	6.13	6.00	3.83

Source: Financials are provided by Nasdaq Data Link and sourced from the audited annual (10-K) and quarterly (10-Q) reports submitted to the Securities and Exchange Commission (SEC).