Willis Towers Watson Public Limited Company (WTW) Financial Statements (2024 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
9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | 6/30/2022 Q2 | 3/31/2022 Q1 | |||
---|---|---|---|---|---|---|---|---|---|
ASSETS | |||||||||
Current Assets | |||||||||
Cash, cash equivalents, and short-term investments | 1,602 | 1,135 | 1,262 | 1,496 | 1,920 | 2,198 | |||
Cash and cash equivalents | 1,602 | 1,135 | 1,262 | 1,496 | 1,920 | 2,198 | |||
Receivables | 2,206 | 2,338 | 2,476 | 2,082 | 2,201 | 2,302 | |||
Capitalized contract cost | 67 | 71 | 63 | 64 | 64 | ||||
Funds held for clients | 8,608 | 12,213 | 11,772 | 11,190 | 11,988 | 11,631 | |||
Disposal group, including discontinued operation | 5 | 5 | 7 | ||||||
Other current assets | 43 | 54 | 61 | 49 | 47 | ||||
Other undisclosed current assets | 401 | 150 | 200 | 154 | 143 | 163 | |||
Total current assets: | 12,817 | 15,946 | 15,835 | 15,051 | 16,370 | 16,412 | |||
Noncurrent Assets | |||||||||
Finance lease, right-of-use asset, after accumulated amortization | 4 | ||||||||
Operating lease, right-of-use asset | 570 | 577 | 586 | 584 | 621 | 701 | |||
Property, plant and equipment | 725 | 723 | 718 | 701 | 744 | 817 | |||
Long-term investments and receivables | 8 | 7 | 9 | 44 | 13 | 14 | |||
Accounts and financing receivable, after allowance for credit loss | 8 | 7 | 9 | 44 | 13 | 14 | |||
Intangible assets, net (including goodwill) | 12,348 | 12,405 | 12,446 | 12,403 | 12,566 | 12,692 | |||
Goodwill | 10,202 | 10,193 | 10,173 | 10,089 | 10,158 | 10,200 | |||
Intangible assets, net (excluding goodwill) | 2,146 | 2,212 | 2,273 | 2,314 | 2,408 | 2,492 | |||
Contract with customer, asset, after allowance for credit loss | 792 | 787 | 620 | 599 | 569 | ||||
Other noncurrent assets | 1,420 | 1,392 | 1,357 | 1,244 | 1,206 | 1,227 | |||
Other undisclosed noncurrent assets | 93 | 69 | 814 | 344 | 390 | 409 | |||
Total noncurrent assets: | 15,956 | 15,960 | 15,934 | 15,940 | 16,139 | 16,429 | |||
TOTAL ASSETS: | 28,773 | 31,906 | 31,769 | 30,991 | 32,509 | 32,841 | |||
LIABILITIES AND EQUITY | |||||||||
Liabilities | |||||||||
Current Liabilities | |||||||||
Accounts payable and accrued liabilities | 1,089 | 1,066 | 1,065 | 1,010 | 1,030 | 969 | |||
Employee-related liabilities | ✕ | ✕ | ✕ | ✕ | 67 | 65 | 43 | ||
Accounts payable | 1,016 | 1,002 | 975 | 876 | 900 | 926 | |||
Accrued liabilities | 73 | 64 | 90 | 67 | 65 | ||||
Debt | 899 | 250 | 254 | 250 | 599 | ||||
Deferred compensation liability | 199 | 185 | |||||||
Disposal group, including discontinued operation | 65 | 64 | 7 | ||||||
Other liabilities | 652 | 814 | 716 | 851 | 969 | 1,137 | |||
Other undisclosed current liabilities | 9,130 | 12,759 | 12,744 | 11,946 | 12,444 | 12,202 | |||
Total current liabilities: | 11,969 | 14,889 | 14,779 | 14,122 | 14,692 | 14,914 | |||
Noncurrent Liabilities | |||||||||
Long-term debt and lease obligation | 4,565 | 4,472 | 4,471 | 5,078 | 5,365 | 4,690 | |||
Long-term debt, excluding current maturities | 4,565 | 4,472 | 4,471 | 4,470 | 4,720 | 3,975 | |||
Liabilities, other than long-term debt | 2,362 | 2,369 | 2,426 | 1,878 | 2,035 | 2,162 | |||
Accounts payable and accrued liabilities | 67 | 67 | 61 | 59 | 64 | 69 | |||
Deferred income tax liabilities | 721 | 736 | 748 | 758 | 804 | 835 | |||
Liability, pension and other postretirement and postemployment benefits | 452 | 457 | 480 | 552 | 638 | 698 | |||
Estimated litigation liability | 319 | 299 | 296 | 306 | 314 | 316 | |||
Other liabilities | 201 | 200 | 221 | 203 | 215 | 244 | |||
Operating lease, liability | 602 | 610 | 620 | 608 | 645 | 715 | |||
Total noncurrent liabilities: | 6,927 | 6,841 | 6,897 | 6,956 | 7,400 | 6,852 | |||
Total liabilities: | 18,896 | 21,730 | 21,676 | 21,078 | 22,092 | 21,766 | |||
Equity | |||||||||
Equity, attributable to parent | 9,799 | 10,096 | 10,016 | 9,838 | 10,337 | 11,004 | |||
Treasury stock, value | (3) | (3) | (3) | (3) | |||||
Additional paid in capital | 10,910 | 10,890 | 10,876 | 10,855 | 10,855 | 10,826 | |||
Accumulated other comprehensive loss | (2,540) | (2,568) | (2,621) | (2,720) | (2,486) | (2,242) | |||
Retained earnings | 1,429 | 1,774 | 1,764 | 1,706 | 1,971 | 2,423 | |||
Equity, attributable to noncontrolling interest | 78 | 80 | 77 | 75 | 80 | 71 | |||
Total equity: | 9,877 | 10,176 | 10,093 | 9,913 | 10,417 | 11,075 | |||
TOTAL LIABILITIES AND EQUITY: | 28,773 | 31,906 | 31,769 | 30,991 | 32,509 | 32,841 |
Income Statement (P&L) ($ in millions)Annual | Quarterly
9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | 6/30/2022 Q2 | 3/31/2022 Q1 | ||
---|---|---|---|---|---|---|---|---|
Revenues | 2,159 | 2,244 | 2,722 | 1,953 | 2,031 | 2,160 | ||
Cost of revenue | (1,503) | (1,425) | (1,318) | (1,335) | (1,361) | (1,262) | ||
Gross profit: | 656 | 819 | 1,404 | 618 | 670 | 898 | ||
Operating expenses | (514) | (534) | (696) | (464) | (533) | (719) | ||
Operating income: | 142 | 285 | 708 | 154 | 137 | 179 | ||
Nonoperating income | 35 | 25 | 220 | 85 | 93 | 27 | ||
Gain, foreign currency transaction, before tax | 137 | |||||||
Other nonoperating income | 35 | 25 | 83 | 85 | 93 | 27 | ||
Interest and debt expense | (57) | (54) | (54) | (54) | (51) | (49) | ||
Income from continuing operations before equity method investments, income taxes: | 120 | 256 | 874 | 185 | 179 | 157 | ||
Income from equity method investments | 4 | |||||||
Other undisclosed loss from continuing operations before income taxes | (141) | |||||||
Income from continuing operations before income taxes: | 120 | 256 | 737 | 185 | 179 | 157 | ||
Income tax expense | (24) | (50) | (131) | (1) | (19) | (43) | ||
Income from continuing operations: | 96 | 206 | 606 | 184 | 160 | 114 | ||
Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | ✕ | 192 | 114 | 125 | |
Income (loss) from discontinued operations | (13) | 8 | (46) | 11 | ||||
Net income: | 96 | 206 | 593 | 192 | 114 | 125 | ||
Net loss attributable to noncontrolling interest | (2) | (3) | (5) | (2) | (5) | (3) | ||
Net income available to common stockholders, diluted: | 94 | 203 | 588 | 190 | 109 | 122 |
Comprehensive Income ($ in millions)Annual | Quarterly
9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | 6/30/2022 Q2 | 3/31/2022 Q1 | ||
---|---|---|---|---|---|---|---|---|
Net income: | 96 | 206 | 593 | 192 | 114 | 125 | ||
Other undisclosed comprehensive income (loss) | 28 | 53 | 98 | (234) | (244) | (56) | ||
Comprehensive income (loss): | 124 | 259 | 691 | (42) | (130) | 69 | ||
Comprehensive loss, net of tax, attributable to noncontrolling interest | (2) | (3) | (4) | (2) | (5) | (3) | ||
Comprehensive income (loss), net of tax, attributable to parent: | 122 | 256 | 687 | (44) | (135) | 66 |
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.