MARSH & MCLENNAN COMPANIES, INC.

For the period ended Jun 30, 2026. Filed Jul 21, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2026 · Filed Jul 21, 2026

MRSH$204.82-2.2%Stored close · as of Nov 6, 2026

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Contents

CONSOLIDATED BALANCE SHEETS

(In millions, except share data)	(Unaudited) June 30, 2026	December 31, 2025
ASSETS
Current assets:
Cash and cash equivalents	$1,700	$2,687
Cash and cash equivalents held in a fiduciary capacity	12,203	11,473
Receivables
Commissions and fees	8,289	7,015
Advanced premiums and claims	86	67
Other	727	750
	9,102	7,832
Less-allowance for credit losses	(159)	(162)
Net receivables	8,943	7,670
Other current assets	1,487	1,370
Total current assets	24,333	23,200
Goodwill	24,352	24,337
Other intangible assets	4,505	4,746
Fixed assets (net of accumulated depreciation and amortization of $1,732 at June 30, 2026 and $1,669 at December 31, 2025)	806	829
Pension related assets	2,225	2,140
Right of use assets	1,428	1,460
Deferred tax assets	199	212
Other assets	1,834	1,786
	$59,682	$58,710

CONSOLIDATED BALANCE SHEETS (Continued)

(In millions, except share data)	(Unaudited) June 30, 2026	December 31, 2025
LIABILITIES AND EQUITY
Current liabilities:
Short-term debt	$1,670	$1,267
Accounts payable and accrued liabilities	4,051	3,652
Accrued compensation and employee benefits	2,629	3,962
Current lease liabilities	327	333
Accrued income taxes	479	373
Fiduciary liabilities	12,203	11,473
Total current liabilities	21,359	21,060
Long-term debt	18,891	18,320
Pension, post-retirement and post-employment benefits	739	786
Long-term lease liabilities	1,494	1,529
Liabilities for errors and omissions	280	288
Other liabilities	1,486	1,412
Commitments and contingencies	—	—
Equity:
Preferred stock, $1 par value, authorized 6,000,000 shares, none issued	—	—
Common stock, $1 par value, authorized 1,600,000,000 shares, issued 560,641,640 shares at June 30, 2026 and December 31, 2025	561	561
Additional paid-in capital	1,566	1,547
Retained earnings	29,301	27,767
Accumulated other comprehensive loss	(5,575)	(5,429)
Non-controlling interests	250	215
	26,103	24,661
Less – treasury shares, at cost, 82,719,184 shares at June 30, 2026and 75,783,063 shares at December 31, 2025	(10,670)	(9,346)
Total equity	15,433	15,315
	$59,682	$58,710

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.