Willis Towers Watson Public Limited Company (WTW) Financial Statements (2023 and earlier)

Company Profile

Business Address C/O WILLIS GROUP LIMITED
LONDON ENGLAND, EC3M 7DQ
State of Incorp.
Fiscal Year End December 31
Industry (SIC) 6411 - Insurance Agents, Brokers, and Service (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)
Annual | Quarterly

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments4,6862,0898871,0331,030870
Cash and cash equivalents4,4862,0898871,0331,030870
Short-term investments200     
Restricted cash and investments 78   
Receivables2,4532,6632,6772,4402,4162,177
Capitalized contract cost74108  ✕✕
Funds held for clients11,01415,16013,00412,604  
Disposal group, including discontinued operation6     
Other current assets4975112577155
Other undisclosed current assets20619934928612,34410,690
Total current assets:18,48820,30117,03716,42015,86113,792
Noncurrent Assets
Finance lease, right-of-use asset6810✕✕✕
Operating lease, right-of-use asset720902968✕✕✕
Property, plant and equipment8511,0141,046942985839
Long-term investments and receivables2334    
Accounts and financing receivable, after allowance for credit loss2334    
Intangible assets, net (including goodwill)12,73814,24714,67213,78314,40114,781
Goodwill10,18311,20411,19410,46510,51910,413
Intangible assets, net (excluding goodwill)2,5553,0433,4783,3183,8824,368
Contract with customer, asset, net   3✕✕
Other noncurrent assets1,2021,096835467447353
Defined benefit plan, assets for plan benefits✕✕✕✕✕488
Other undisclosed noncurrent assets942929858770764 
Total noncurrent assets:16,48218,23018,38915,96516,59716,461
TOTAL ASSETS:34,97038,53135,42632,38532,45830,253
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities970939920321  
Accounts payable898862856   
Employee-related liabilities727764321  
Debt61797448318685508
Deferred compensation liability   548  
Estimated litigation liability 210    
Disposal group, including discontinued operation6     
Other liabilities1,015888802864804876
Other undisclosed current liabilities12,11616,32113,86513,38213,86611,986
Total current liabilities:14,72419,33216,07015,30114,75513,370
Noncurrent Liabilities
Long-term debt and lease obligation4,7085,5826,2654,3894,4503,357
Long-term debt, excluding current maturities3,9744,6645,3014,3894,4503,357
Operating lease, liability734918964✕✕✕
Liabilities, other than long-term debt2,2302,6852,7222,6982,5022,836
Accounts payable and accrued liabilities648281 84119
Deferred tax liabilities, net✕✕✕559615864
Deferred income tax liabilities845561526✕✕✕
Liability, pension and other postretirement and postemployment benefits7571,4051,3241,1701,2591,321
Estimated litigation liability311325456540  
Other liabilities253312335429544532
Other undisclosed noncurrent liabilities    474456
Total noncurrent liabilities:6,9388,2678,9877,0877,4266,649
Total liabilities:21,66227,59925,05722,38822,18120,019
Temporary equity, carrying amount   262851
Stockholders' equity
Stockholders' equity attributable to parent13,26010,82010,2499,85210,12610,065
Treasury stock, value(3)(3)(3)(3)(3)(99)
Additional paid in capital10,80410,74810,68710,61510,53810,596
Accumulated other comprehensive loss(2,186)(2,359)(2,227)(1,961)(1,513)(1,884)
Retained earnings4,6452,4341,7921,2011,1041,452
Stockholders' equity attributable to noncontrolling interest48112120119123118
Total stockholders' equity:13,30810,93210,3699,97110,24910,183
TOTAL LIABILITIES AND EQUITY:34,97038,53135,42632,38532,45830,253

Income Statement (P&L) ($ in millions)
Annual | Quarterly

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues8,9989,3529,0398,5138,2027,887
Revenue, net✕✕✕✕8,2027,887
Cost of revenue(7,286)(5,885)(5,415)   
Gross profit:1,7123,4673,6248,5138,2027,887
Operating expenses490(2,284)(2,295)(7,704)(7,464)(7,336)
Operating income:2,2021,1831,329809738551
Nonoperating income (expense)711405201224(61)(27)
Other nonoperating income (expense)701399227250(61)(27)
Interest and debt expense(211)(244)(234)(208)(188)(184)
Other undisclosed income from continuing operations before equity method investments, income taxes  2626  
Income from continuing operations before equity method investments, income taxes:2,7021,3441,322851489340
Income from equity method investments86  32
Other undisclosed loss from continuing operations before income taxes(18)(12)    
Income from continuing operations before income taxes:2,6921,3381,322851492342
Income tax expense (benefit)(536)(318)(249)(136)10096
Income from continuing operations:2,1561,0201,073715592438
Income from discontinued operations2,080     
Net income:4,2361,0201,073715592438
Net loss attributable to noncontrolling interest(14)(24)(29)(20)(24)(18)
Net income available to common stockholders, diluted:4,2229961,044695568420

Comprehensive Income ($ in millions)
Annual | Quarterly

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income:4,2361,0201,073715592438
Other comprehensive income (loss)175(131)(230)(448)384(867)
Comprehensive income (loss):4,411889843267976(429)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(16)(25)(29)(20)(37)2
Comprehensive income (loss), net of tax, attributable to parent:4,395864814247939(427)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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