v3.26.1
Segment Information (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Schedule of Selected Information and Details for MMC's Operating Segments
Selected information about the Company’s segments is as follows:
Three Months Ended March 31,

(In millions)
Revenue Compensation and benefits Depreciation
and
amortization expense		Identified intangible
amortization expense		Other segment itemsOperating
Income
(Loss)
2026 –
Risk and Insurance Services$5,051 (a)$2,606 $50 $119 $965 $1,311 
Consulting2,558 (b)1,475 25 19 514 525 
Total Segments7,609 4,081 75 138 1,479 1,836 
Corporate/Eliminations(12)49 14 — 7 (82)
Total Consolidated$7,597 $4,130 $89 $138 $1,486 $1,754 
2025 –
Risk and Insurance Services$4,762 (a)$2,451 $50 $120 $528 $1,613 
Consulting2,314 (b)1,363 24 19 452 456 
Total Segments7,076 3,814 74 139 980 2,069 
Corporate/Eliminations(15)36 14 — (1)(64)
Total Consolidated$7,061 $3,850 $88 $139 $979 $2,005 
(a)Includes interest income on fiduciary funds of $85 million and $103 million in 2026 and 2025, respectively, and equity method income of $8 million in 2026. Revenue in 2025 also includes $28 million from a gain on the sale of the TCAS business and a gain on the remeasurement of a previously held equity method investment to fair value upon consolidation.
(b)Includes inter-segment revenue of $12 million and $15 million in 2026 and 2025, respectively.
Schedule of Details of Operating Segment Revenue
Details of operating segment revenue are as follows:
Three Months Ended
 March 31,
(In millions)20262025
Risk and Insurance Services
Marsh Risk$3,782 $3,520 
Guy Carpenter1,269 1,242 
Total Risk and Insurance Services5,051 4,762 
Consulting
Mercer1,661 1,496 
Marsh Management Consulting897 818 
Total Consulting2,558 2,314 
Total Segments7,609 7,076 
Corporate Eliminations(12)(15)
Total$7,597 $7,061