Acquisitions and Dispositions

3 Months Ended

Mar. 31, 2012

Acquisitions and Dispositions

Acquisitions and Dispositions

5.  Acquisitions and Dispositions

Acquisitions

During the three months ended March 31, 2012, the Company completed the acquisition of two businesses in the Risk Solutions segment. During the three months ended March 31, 2011, the Company completed the acquisition of one business in the Risk Solutions segment.

The following table includes the aggregate consideration transferred and the preliminary value of intangible assets recorded as a result of the Company’s acquisitions.

	Three months ended March 31,
(millions)	2012		2011
Consideration transferred:	$	21	$	3
Intangible assets:
Goodwill	$	19	$	1
Other intangible assets:	8		3
Total	$	27	$	4

The results of operations of these acquisitions are included in the Condensed Consolidated Financial Statements as of the acquisition date. The results of operations of the Company would not have been materially different if these acquisitions had been reported from the beginning of the period.

Dispositions

During the three months ended March 31, 2012, the Company completed the sale of one business in the HR Solutions segment. No gain or loss was recognized on this sale. During the three months ended March 31, 2011, the Company did not complete any dispositions.