v3.25.3

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Income Statement [Abstract]
Revenue	$ 6,351	$ 5,697	$ 20,386	$ 18,391
Expense:
Compensation and benefits	3,894	3,442	11,639	10,366
Other operating expenses	1,287	1,147	3,743	3,350
Operating expenses	5,181	4,589	15,382	13,716
Operating income	1,170	1,108	5,004	4,675
Other net benefit credits	52	68	143	201
Interest income	10	12	34	61
Interest expense	(237)	(154)	(725)	(469)
Investment income	15	1	27	3
Income before income taxes	1,010	1,035	4,483	4,471
Income tax expense	253	283	1,083	1,155
Net income before non-controlling interests	757	752	3,400	3,316
Less: Net income attributable to non-controlling interests	10	5	61	44
Net income attributable to the Company	$ 747	$ 747	$ 3,339	$ 3,272
Net income per share attributable to the Company:
Basic (in dollars per share)	$ 1.52	$ 1.52	$ 6.79	$ 6.65
Diluted (in dollars per share)	$ 1.51	$ 1.51	$ 6.75	$ 6.59
Average number of shares outstanding:
Basic (in shares)	491	492	492	492
Diluted (in shares)	494	496	495	496
Shares outstanding (in shares)	490	491	490	491

Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-SubTopic 10
-Topic 505
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(16)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(7))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

MARSH & MCLENNAN COMPANIES, INC. 10-Q