Why is Marsh & McLennan Companies filing an amended 8-K?

MMC is filing this 8-K to provide amended financial information. Specifically, it's updating its 2006 Form 10-K filings (Selected Financial Data, MD&A, and Financial Statements) to reflect the classification of its subsidiary, Putnam Investments Trust, as a discontinued operation.

What does classifying Putnam as a 'discontinued operation' mean for investors?

Classifying Putnam as a discontinued operation means that its financial results are presented separately from MMC's continuing operations. This allows investors to better assess the performance of MMC's core businesses and understand the financial impact of the planned sale of Putnam. It also simplifies the comparability of financial statements over time.

When was Putnam initially classified as a discontinued operation, and is the sale finalized?

Putnam was classified as a discontinued operation during the first quarter of 2007, as disclosed in MMC's Form 10-Q. The company had announced an agreement to sell Putnam on February 1, 2007, and this filing is part of the process to reflect that strategic decision. The sale was expected to close later in 2007 and was subject to closing conditions.

What specific financial information has been amended?

The company has amended Item 6 (Selected Financial Data), Item 7 (Management's Discussion and Analysis of Financial Condition and Results of Operations), and Item 8 (Financial Statements and Supplementary Data) of its Annual Report on Form 10-K for the fiscal year ended December 31, 2006, to incorporate the discontinued operations treatment for Putnam.

MRSH/MMC 8-K SEC Disclosure

Summary

This 8-K filing from Marsh & McLennan Companies, Inc. (MMC) on June 11, 2007, primarily serves to provide amended financial information related to its subsidiary, Putnam Investments Trust (Putnam). MMC had previously classified Putnam as a discontinued operation in its first quarter 2007 10-Q filing. The company is now submitting amended sections of its 2006 Form 10-K, including Selected Financial Data, Management's Discussion and Analysis (MD&A), and Financial Statements, to reflect this discontinued operations classification. This amendment is crucial for investors to accurately understand MMC's historical financial performance and its ongoing strategic divestiture of Putnam. The updated disclosures are expected to provide a clearer picture of MMC's core continuing operations versus those designated for sale, impacting the interpretation of past results and the outlook for future performance. Investors should pay close attention to the revised financial data and MD&A to grasp the full financial implications of this significant operational change.

Key Highlights

1Marsh & McLennan Companies (MMC) has amended its 2006 Form 10-K to reflect the classification of Putnam Investments Trust (Putnam) as a discontinued operation.
2The company has filed amended versions of Item 6 (Selected Financial Data), Item 7 (MD&A), and Item 8 (Financial Statements) of its 2006 10-K.
3This filing is a technical update to align past financial reporting with the previously disclosed discontinued operations status of Putnam.
4The amendments are intended to provide investors with a more accurate view of MMC's historical financial performance, separating continuing operations from those held for sale.
5MMC had previously announced the agreement to sell Putnam on February 1, 2007, with the transaction expected to close later in 2007.
6The filing includes consent from Deloitte & Touche LLP and an amended Ratio of Earnings to Fixed Charges.

MARSH & MCLENNAN COMPANIES, INC. 8-K Report, Corporate Update (Jun 11, 2007)

Summary

Key Highlights

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