WTW — what changed in the latest 10-Q
A section-by-section comparison of WTW's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-10-29 vs the prior 10-Q · 2026-07-30
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +20 | −16 | ~71 | 62 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~2 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 2 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 0 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | +1 | −5 | 0 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-10-29
On July 28, 2026, the Board of Directors of WTW approved and authorized management to execute Propel, an artificial intelligence (‘AI’) acceleration plan (the ‘Plan’). The Plan will extend through December 31, 2028, and embed AI and automation across the enterprise. Supported by the Company's ongoin…
Certain costs under the Plan are accounted for under ASC 420, Exit or Disposal Cost Obligation, and are included as restructuring costs in the condensed consolidated statements of comprehensive income. From commencement of the Plan to September 30, 2026, restructuring charges under the Plan totaled …
For a discussion of some of the risks associated with the Plan, see Part II, Item 1A ‘Risk Factors’ in this Quarterly Report on Form 10-Q.
Revenue for the three months ended September 30, 2026 was $2.5 billion, compared to $2.3 billion for the three months ended September 30, 2025, an increase of $172 million, or 8%, on an as-reported basis. Adjusting for the impacts of foreign currency and acquisitions and disposals, our organic reven…
HWC segment revenue for the three months ended September 30, 2026 and 2025 was $1.4 billion and $1.3 billion, respectively. Health delivered organic revenue growth with positive contributions from all regions, driven by new business and strong renewals. Wealth generated organic revenue growth suppor…
Text removed vs the prior filing · source: 10-Q · 2026-07-30
Revenue for the three months ended June 30, 2026 was $2.5 billion, compared to $2.3 billion for the three months ended June 30, 2025, an increase of $205 million, or 9%, on an as-reported basis. Adjusting for the impacts of foreign currency and acquisitions and disposals, our organic revenue growth …
HWC segment revenue for the three months ended June 30, 2026 and 2025 was $1.3 billion and $1.2 billion, respectively. Health delivered organic revenue growth with positive contributions from all regions. Wealth generated organic revenue growth supported by higher levels of retirement work across al…
Other operating expenses for the three months ended June 30, 2026 were $380 million, compared to $336 million for the three months ended June 30, 2025, an increase of $44 million, or 13%. The increase was primarily due to higher non-income-related tax expense, higher professional services costs and …
Transaction and integration expenses for the three and six months ended June 30, 2026 were $61 million and $102 million, respectively, and primarily included incremental share-based compensation and transaction-related costs attributable to our Newfront acquisition completed during the first quarter…
Income from operations for the three months ended June 30, 2026 was $364 million, compared to $368 million for the three months ended June 30, 2025, a decrease of $4 million. This decrease resulted primarily from increased salary expense and incentive and benefits costs, higher transaction and integ…
Other information
Text added vs the prior filing · source: 10-Q · 2026-10-29
During the quarter ended September 30, 2026, none of the Company’s directors and officers adopted, modified, or terminated any contract, instruction or written plan for the purchase or sale of Company securities intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any ‘non-Rul…
Text removed vs the prior filing · source: 10-Q · 2026-07-30
On July 28, 2026, the Board of Directors of WTW (the ‘Company’) approved and authorized management to execute Propel, an artificial intelligence (‘AI’) acceleration plan (the ‘Plan’). The Plan is a two-year program to embed AI and automation across the enterprise. Supported by the Company's ongoing …
The estimates set forth above are subject to a number of assumptions and actual amounts may differ materially from these estimates. The Company may also incur other charges or cash expenditures not currently contemplated due to unanticipated events that may occur as a result of, or in connection wit…
Also see Note 20 – Subsequent Event within Part I, Item 1 ‘Financial Statements,’ and Part II, Item 1A, Risk Factors – ‘Our artificial intelligence (‘AI’) acceleration plan (the ‘Plan’), or other activities we may from time to time undertake that impact our workforce, technology or processes could h…
On July 28, 2026, Joseph S. Kurpis notified the Company of his intent to retire from his role as the Company's Principal Accounting Officer and Controller in the first half of 2027, after the filing of the Company’s Annual Report on Form 10-K, with the exact date to be determined at a later date. In…
During the quarter ended June 30, 2026, none of the Company’s directors and officers adopted, modified, or terminated any contract, instruction or written plan for the purchase or sale of Company securities intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any ‘non-Rule 10b…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice