WTW · 10-Q · 2026Q3 · Full report

Liquidity and Cash Position

WILLIS TOWERS WATSON PLC · 2026-10-29 · Importance 45 · Surprise 38 · From source text

Cash and cash equivalents totaled $1.9 billion at September 30, 2026, down from $3.1 billion at December 31, 2025; WTW also had the full $1.5 billion revolving credit facility available. Nine-month operating cash flow increased to $1.213 billion from $1.004 billion, with the increase primarily driven by operating margin expansion. Cash outflows included $1.1 billion primarily for Newfront and Cushon, $970 million of share repurchases and $267 million of dividends; operating cash inflows partially offset these uses. WTW reported $6.532 billion of total debt, a 45.7% capitalization ratio and compliance with all financial covenants at September 30, 2026.

Key facts

• WTW cash flows from operating activities were $1,213 million for the nine months ended September 30, 2026, compared with $1,004 million in the prior-year period. source
• WTW expects sufficient liquidity to meet cash needs for the next twelve months and had all borrowing capacity available under its $1.5 billion revolving credit facility. source
• WTW received $29 million in cash proceeds from the disposal of buildings and related improvements during the nine-month period. source

Impact estimates