| Cash Flow | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-09-30 |
|---|---|---|---|---|
| Net income/(loss) | 877 | 571 | 239 | -1,336 |
| Depreciation | 167 | 111 | 54 | 176 |
| Amortization | 144 | 97 | 48 | 176 |
| Impairment | 0 | - | - | 1,042 |
| Non-cash restructuring charges | 0 | 0 | 0 | 17 |
| Non-cash lease expense | 71 | 47 | 25 | 76 |
| Net periodic cost/(benefit) of defined benefit pension plans | 100 | 94 | 88 | -15 |
| Provision for doubtful receivables from clients | 8 | 7 | 5 | 13 |
| Benefit from deferred income taxes | -62 | -70 | -23 | -379 |
| Share-based compensation | 104 | 68 | 37 | 85 |
| (gain)/loss on disposal of operations | 40 | 14 | 14 | -1,190 |
| Non-cash foreign exchange loss/(gain) | -30 | -30 | -9 | 25 |
| Other, net | -34 | -18 | -9 | -32 |
| Accounts receivable | -382 | -225 | -162 | -271 |
| Other assets | 142 | 99 | -1 | 299 |
| Other liabilities | -689 | -778 | -691 | -159 |
| Provisions | 20 | 19 | 16 | 48 |
| Net cash from operating activities | 1,004 | 326 | -35 | 913 |
| Additions to fixed assets and software for internal use | - | - | - | 106 |
| Capitalized software costs | - | - | - | 83 |
| Additions to fixed assets and software | 166 | 109 | 51 | - |
| Acquisitions of operations, net of cash acquired | 14 | 14 | 1 | 28 |
| Contributions to investments in associates | 16 | 8 | - | - |
| Net proceeds from sale of operations | 870 | 836 | - | 0 |
| Cash and fiduciary funds transferred in sale of operations | 54 | - | - | 0 |
| Net purchases of held-to-maturity securities | 50 | 50 | - | - |
| Purchase of investments | - | - | - | 13 |
| (purchase)/sale of investments | - | - | 32 | - |
| Net purchases of available-for-sale securities | 40 | 43 | - | - |
| Net cash from/(used in) investing activities | 530 | 612 | -84 | -230 |
| Senior notes issued | 0 | 0 | 0 | 746 |
| Debt issuance costs | 0 | 0 | 0 | 9 |
| Repayments of debt | 4 | 2 | 1 | 653 |
| Repurchase of shares | 1,300 | 700 | 200 | 506 |
| Net proceeds/(payments) from fiduciary funds held for clients | - | - | - | -934 |
| Net proceeds from fiduciary funds held for clients | 343 | 141 | 315 | - |
| Payments of deferred and contingent consideration related to acquisitions | 19 | 15 | - | 2 |
| Cash paid for employee taxes on withholding shares | 53 | 43 | 2 | 30 |
| Dividends paid | 269 | 179 | 88 | 265 |
| Acquisitions of and dividends paid to non-controlling interests | -9 | -2 | 0 | -10 |
| Net cash (used in)/from financing activities | -1,311 | -800 | 24 | 205 |
| Increase in cash, cash equivalents and restricted cash | 223 | 138 | -95 | 888 |
| Effect of exchange rate changes on cash | 202 | 207 | 80 | 32 |
| Cash and cash equivalents at beginning of period | 4,998 | 4,998 | 4,998 | 3,792 |
| Cash and cash equivalents at end of period | 5,423 | 5,343 | 4,983 | 4,712 |
WILLIS TOWERS WATSON PLC (WTW)
WILLIS TOWERS WATSON PLC (WTW)