Willis Towers Watson PLC (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)

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,4241,2471,6021,1351,2621,496
Cash and cash equivalents1,4241,2471,6021,1351,2621,496
Receivables2,6592,2812,2062,3382,4762,082
Capitalized contract cost 7672 677163
Funds held for clients9,0738,0398,60812,21311,77211,190
Disposal group, including discontinued operation      5
Other current assets 5339 435461
Other undisclosed current assets148156401150200154
Total current assets:13,43311,83412,81715,94615,83515,051
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization 3   4 
Operating lease, right-of-use asset565533570577586584
Property, plant and equipment720710725723718701
Long-term investments and receivables 19887944
Accounts and financing receivable, after allowance for credit loss 19887944
Intangible assets, net (including goodwill)12,21112,20712,34812,40512,44612,403
Goodwill10,19510,14310,20210,19310,17310,089
Intangible assets, net (excluding goodwill)2,0162,0642,1462,2122,2732,314
Contract with customer, asset, after allowance for credit loss  803792787 620
Other noncurrent assets1,5731,4311,4201,3921,3571,244
Other undisclosed noncurrent assets566979369814344
Total noncurrent assets:15,65715,78915,95615,96015,93415,940
TOTAL ASSETS:29,09027,62328,77331,90631,76930,991
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,159 1,0891,0661,0651,010
Employee-related liabilities67
Accounts payable1,073 1,0161,002975876
Accrued liabilities86 73649067
Debt655649899250254250
Deferred compensation liability   199   
Disposal group, including discontinued operation      65
Other liabilities678630652814716851
Other undisclosed current liabilities10,13810,0269,13012,75912,74411,946
Total current liabilities:12,63011,30511,96914,88914,77914,122
Noncurrent Liabilities
Long-term debt and lease obligation4,5674,5654,5654,4724,4715,078
Long-term debt, excluding current maturities4,5674,5654,5654,4724,4714,470
Liabilities, other than long-term debt2,3002,2682,3622,3692,4261,878
Accounts payable and accrued liabilities595867676159
Deferred income tax liabilities542706721736748758
Liability, pension and other postretirement and postemployment benefits563433452457480552
Estimated litigation liability306302319299296306
Other liabilities238200201200221203
Operating lease, liability592569602610620608
Total noncurrent liabilities:6,8676,8336,9276,8416,8976,956
Total liabilities:19,49718,13818,89621,73021,67621,078
Equity
Equity, attributable to parent9,5209,4109,79910,09610,0169,838
Treasury stock, value     (3)(3)
Additional paid in capital10,91010,90310,91010,89010,87610,855
Accumulated other comprehensive loss(2,856)(2,620)(2,540)(2,568)(2,621)(2,720)
Retained earnings1,4661,1271,4291,7741,7641,706
Equity, attributable to noncontrolling interest737578807775
Total equity:9,5939,4859,87710,17610,0939,913
TOTAL LIABILITIES AND EQUITY:29,09027,62328,77331,90631,76930,991

Income Statement (P&L) ($ in millions)

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
Revenues2,9142,1662,1592,2442,7221,953
Cost of revenue(1,375)(1,532)(1,503)(1,425)(1,318)(1,335)
Gross profit:1,5396346568191,404618
Operating expenses(760)(475)(514)(534)(696)(464)
Operating income:779159142285708154
Nonoperating income366352522085
Gain (loss), foreign currency transaction, before tax (20)   137 
Other nonoperating income236635258385
Interest and debt expense(63)(61)(57)(54)(54)(54)
Income from continuing operations before equity method investments, income taxes:719164120256874185
Income from equity method investments 3   4 
Other undisclosed income (loss) from continuing operations before income taxes 17   (141) 
Income from continuing operations before income taxes:739164120256737185
Income tax expense(116)(25)(24)(50)(131)(1)
Income from continuing operations:62313996206606184
Income before gain (loss) on sale of properties:192
Income (loss) from discontinued operations     (13)8
Net income:62313996206593192
Net loss attributable to noncontrolling interest(1)(3)(2)(3)(5)(2)
Net income available to common stockholders, diluted:62213694203588190

Comprehensive Income ($ in millions)

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
Net income:62313996206593192
Other undisclosed comprehensive income (loss)(236)(78)285398(234)
Comprehensive income (loss):38761124259691(42)
Comprehensive loss, net of tax, attributable to noncontrolling interest(1)(5)(2)(3)(4)(2)
Comprehensive income (loss), net of tax, attributable to parent:38656122256687(44)

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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