Willis Towers Watson PLC 8-K, filed Mar 14, 2022

Willis Towers Watson PLC (WTW)

8-K 2022-03-14 For: 2022-03-14

Added on April 12, 2026

About this 8-K

Willis Towers Watson PLC filed this 8-K on March 14, 2022.



Ireland	001-16503	98-0352587
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)


☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Exhibit No.	Description
99.1	Recast segment information
104	Cover Page Interactive File (the cover page tags are embedded within the Inline XBRL document)


	Willis Towers Watson Public Limited Company
	(Registrant)


Date: March 14, 2022	By:	/s/ Andrew J. Krasner
	Name:	Andrew J. Krasner
	Title:	Chief Financial Officer


	2021															2020															2019
	Q1			Q2			Q3			Q4			Full Year			Q1			Q2			Q3			Q4			Full Year			Q1			Q2			Q3			Q4			Full Year
HWC: Revenue	$	1,233		$	1,179		$	1,168		$	1,688		$	5,268		$	1,143		$	1,039		$	1,088		$	1,625		$	4,895		$	1,024		$	987		$	1,048		$	1,527		$	4,586
Operating Income		242			218			241			645			1,346			214			168			216			638			1,236			189			161			209			590			1,149
Operating Margin %		19.6	%		18.6	%		20.6	%		38.2	%		25.6	%		18.7	%		16.2	%		19.7	%		39.2	%		25.2	%		18.5	%		16.4	%		20.0	%		38.6	%		25.0	%

R&B: Revenue	$	924		$	885		$	787		$	968		$	3,564		$	840		$	781		$	724		$	971		$	3,316		$	825		$	771		$	724		$	962		$	3,282
Operating Income		203			204			138			290			835			161			152			94			307			714			157			120			91			282			650
Operating Margin %		21.9	%		23.1	%		17.5	%		30.1	%		23.4	%		19.2	%		19.4	%		13.1	%		31.6	%		21.6	%		19.1	%		15.5	%		12.5	%		29.3	%		19.8	%

Total Segment Revenue	$	2,157		$	2,064		$	1,955		$	2,656		$	8,832		$	1,983		$	1,820		$	1,812		$	2,596		$	8,211		$	1,849		$	1,758		$	1,772		$	2,489		$	7,868
Total Segment Operating Income	$	445		$	422		$	379		$	935		$	2,181		$	375		$	320		$	310		$	945		$	1,950		$	346		$	281		$	300		$	872		$	1,799


						Components of Revenue Change
					As	Less:	Constant	Less:
	Three Months Ended March 31,				Reported	Currency	Currency	Acquisitions/	Organic
	2021		2020		Change	Impact	Change	Divestitures	Change
	($ in millions)
Health, Wealth & Career	$	1,233	$	1,143	8%	3%	5%	—%	5%
Risk & Broking		924		840	10%	5%	5%	—%	5%
Total Segments		2,157		1,983	9%	4%	5%	—%	5%
Divested Businesses and Other		71		139
Total Revenue	$	2,228	$	2,122	5%	4%	1%	(2)%	4%


	2021															2020															2019
	Q1			Q2			Q3			Q4			Full Year			Q1			Q2			Q3			Q4			Full Year			Q1			Q2			Q3			Q4			Full Year
Revenue:
Total segment revenue	$	2,157		$	2,064		$	1,955		$	2,656		$	8,832		$	1,983		$	1,820		$	1,812		$	2,596		$	8,211		$	1,849		$	1,758		$	1,772		$	2,489		$	7,868
Divested businesses		51			9			8			38			106			105			85			79			55			324			108			88			86			91			373
Reimbursable expenses and other		20			18			10			12			60			34			22			6			18			80			33			28			29			39			129
Revenue	$	2,228		$	2,091		$	1,973		$	2,706		$	8,998		$	2,122		$	1,927		$	1,897		$	2,669		$	8,615		$	1,990		$	1,874		$	1,887		$	2,619		$	8,370

Total segment operating income	$	445		$	422		$	379		$	935		$	2,181		$	375		$	320		$	310		$	945		$	1,950		$	346		$	281		$	300		$	872		$	1,799
Divested businesses		(10	)		(19	)		(20	)		25			(24	)		10			(2	)		(11	)		(10	)		(13	)		4			(1	)		1			1			5
Amortization		(103	)		(97	)		(85	)		(84	)		(369	)		(120	)		(119	)		(108	)		(114	)		(461	)		(126	)		(123	)		(118	)		(121	)		(488	)
Restructuring costs		—			—			—			(26	)		(26	)		—			—			—			(24	)		(24	)		—			—			—			—			—
Transaction and integration, net		(24	)		(51	)		952			(71	)		806			(9	)		(14	)		(42	)		(45	)		(110	)		(6	)		—			(6	)		(1	)		(13	)
Provision for significant litigation		—			—			—			—			—			—			—			(15	)		(50	)		(65	)		—			—			—			—			—
Unallocated, net		(97	)		(85	)		(95	)		(89	)		(366	)		(116	)		(111	)		(68	)		(123	)		(418	)		(68	)		(56	)		(72	)		(53	)		(249	)
Income from operations		211			170			1,131			690			2,202			140			74			66			579			859			150			101			105			698			1,054
Interest expense		(59	)		(52	)		(50	)		(50	)		(211	)		(61	)		(62	)		(61	)		(60	)		(244	)		(54	)		(56	)		(62	)		(62	)		(234	)
Other income, net		438			74			105			84			701			89			76			156			75			396			55			66			55			50			226
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	$	590		$	192		$	1,186		$	724		$	2,692		$	168		$	88		$	161		$	594		$	1,011		$	151		$	111		$	98		$	686		$	1,046