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Stock Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Option Pricing Valuation Model for Options Granted
The assumptions used in the Black-Scholes option pricing valuation model for options granted by the Company in 2024, 2023 and 2022 are as follows:
202420232022
Risk-free interest rate4.31 %4.11 %1.88 %
Expected life (in years)5.85.85.8
Expected volatility20.96 %22.59 %22.58 %
Expected dividend yield1.42 %1.44 %1.41 %
The assumptions used in the Monte Carlo simulation model for PSU awards granted with the TSR modifier by the Company in 2024 include:
2024
Risk-Free Interest Rate4.47 %
Volatility20.1 %
Initial TSR6.5 %
Schedule of Status of MMC's Stock Option Awards
A summary of the status of the Company’s stock option awards at December 31, 2024 and changes during the year then ended are presented below:
SharesWeighted
Average 
Exercise
Price		Weighted
Average
Remaining
Contractual
Term		Aggregate
Intrinsic Value
($000)
Balance at January 1, 20246,595,762 $110.90 
Granted625,702 $200.47 
Exercised(1,548,811)$88.35 
Forfeited(62,000)$153.30 
Balance at December 31, 2024
5,610,653 $126.64 5.1 years$480,014 
Options vested or expected to vest at December 31, 2024
5,567,404 $126.34 5.0 years$477,963 
Options exercisable at December 31, 2024
3,758,467 $107.39 3.9 years$393,899 
Summary of Restricted Stock Units and Performance Stock Units
A summary of the status of the Company's RSU and PSU awards at December 31, 2024 and changes during the period then ended are presented below:
Restricted Stock UnitsPerformance Stock Units
SharesWeighted Average Grant Date Fair ValueSharesWeighted Average Grant Date Fair Value
Non-vested balance at January 1, 20243,923,668 $152.60 591,337 $146.17 
Granted1,644,849 $201.01 155,472$220.05 
Vested(1,927,116)$143.82 (221,591)$122.77 
Forfeited(184,679)$168.69 (11,945)$165.78 
Non-vested balance at December 31, 20243,456,722 $179.66 513,273$178.19