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Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
Pay vs. Performance
 
As described in the CD&A, Aon has a strong pay for performance philosophy that shapes how we deliver compensation to all colleagues, including the
senior
executives of the firm. This is evidenced by (1) the weighting of fixed vs. variable compensation awarded annually, (2) the proportion of variable compensation delivered in the form of company equity instruments, and (3) the proportion of equity awards that are leveraged on performance conditions above and beyond share price.
2023 Compensation Details
Variable compensation awarded to the Chief Executive Officer (“CEO”) and other NEOs (on average) represented 93% of the total compensation awarded for 2023. To maximize shareholder alignment, over 99% of their variable compensation was delivered in the form of equity, including the annual incentive for the year. Finally, 84% and 81%, respectively, of the equity compensation for the CEO and other NEOs (on average) is comprised of PSUs under our LPP and the July 2023 PSUs that can result in a 0x – 2x payout based on performance against Adjusted EPS goals, and share price performance, respectively, which we believe closely aligns with shareholder value creation.
 
PVP Disclosure
In accordance with rules adopted by the SEC pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we provide the following
disclosure
regarding executive compensation covering calculations and narrative of Compensation Actually Paid (“CAP”) under new SEC Pay Versus Performance (“PVP”) disclosure requirements for our principal executive officer (“PEO”) and
Non-PEO
NEOs and Company performance for the fiscal years listed below. The Compensation Committee did not consider the pay versus performance disclosure below in making its pay decisions for any of the years shown. 
 
 Year
   
Summary
Compensation
Table Total for
PEO
1
($)
     
CAP to
PEO
1,2
($)
     
Average
Summary
Compensation
Table Total for
Non-PEO

NEOs
1

($)
     
Average
CAP Paid
to
Non-PEO

NEOs
1,2

($)
     
Value of
Initial Fixed
$100
Investment
based on:
3
     
Net
Income
($
Millions)
     
Adjusted
Earnings per
Share
Growth
4
  
  
TSR
($)
     
Peer
Group
TSR
($)
  
 2023
      23,661,834        26,595,162        16,616,433        14,770,260        144        133        2,564        6 % 
 2022
      19,668,985        18,544,322        6,643,617        6,472,711        148        119        2,589        12 % 
 2021
      19,868,384        101,103,407        7,644,425        25,641,567        147        133        1,308        22 % 
 2020
      20,294,496        39,560,227        6,898,103        11,455,444        102        98        2,018        7 % 
 
1.
The PEO for each year reflected in the table is Gregory C. Case, the Company’s CEO. The
non-PEO
NEOs are Christa Davies, Eric Andersen (for years 2020, 2021, 2022 and 2023 only), Lisa Stevens, Darren Zeidel (for years 2021, 2022 and 2023 only), John Bruno (for 2020 only) and Anthony Goland (for 2020 only).
 
2.
The amounts shown for CAP have been calculated in accordance with Item 402(v) of Regulation
S-K
and do not reflect compensation actually earned, realized, or received by the Company’s NEOs. CAP amounts reflect the Summary Compensation Table Total with exclusions and inclusions of certain amounts for the PEO and the
Non-PEO
NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards column are the totals from the Stock Awards column set forth in the Summary Compensation Table. CAP values for 2020, 2021 and 2022 have been updated from last year’s disclosure to reflect revised guidance from the SEC related to treatment of equity upon retirement eligibility.
 
PEO
 
  Year
  
 
 
 
Summary
Compensation
Table Total for
PEO
    
Exclusion
of Stock
Awards for
PEO
    
Inclusion
of Equity
Values for
PEO
    
CAP to PEO
  
 2023
   $ 23,661,834     ($ 21,487,348 )    $ 24,420,677     $ 26,595,162  
 2022
   $ 19,668,985     ($ 17,497,455 )    $ 16,372,792     $ 18,544,322  
 2021
   $ 19,868,384     ($ 15,262,436 )    $ 96,497,459     $ 101,103,407  
 2020
   $ 20,294,496     ($ 15,880,566 )    $ 35,146,297     $ 39,560,227  
Average
Non-PEO
NEOs
 
  Year
  
Average
Summary
Compensation
Table Total
for Non-PEO

NEOs
    
Average
Exclusion
of Change
in Pension
Value for
Non-PEO

NEOs
    
Average
Exclusion
of Stock
Awards for
Non-PEO

NEOs
    
Average
Inclusion
of Equity
Values for
Non-PEO

NEOs
    
Average
CAP for
Non-PEO

NEOs
  
 2023
   $ 16,616,433     ($ 27,203 )    ($ 14,060,598 )    $ 12,241,628     $ 14,770,260  
 2022
   $ 6,643,617     $ 0     ($ 4,729,173 )    $ 4,558,267     $ 6,472,711  
 2021
   $ 7,644,425     $ 0     ($ 4,583,837 )    $ 22,580,979     $ 25,641,567  
 2020
   $ 6,898,103     ($ 76,821 )    ($ 4,387,596 )    $ 9,021,758     $ 11,455,444  
 
The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
 
PEO
 
  Year
  
Year-End

Fair Value
of Equity
Awards
Granted
During Year
That
Remained
Unvested
as of
Last Day
of Year
for
PEO
    
Change in
Fair Value
from Last
Day of Prior
Year to Last
Day of Year
of Unvested
Equity
Awards for
PEO
    
Change in
Fair Value
from Last
Day of Prior
Year to
Vesting Date
of Unvested
Equity
Awards that
Vested for
PEO
    
During Year
for PEO
Value of
Dividends
or Other
Earnings
Paid on
Equity
Awards Not
Otherwise
Included
for
PEO
    
Total -
Inclusion
of Equity
Values for
PEO
  
 2023
   $ 20,584,136     $ 4,938,480     ($ 1,119,228 )    $ 17,289     $ 24,420,677  
 2022
   $ 16,554,822     ($ 54,463 )    ($ 135,298 )    $ 7,731     $ 16,372,792  
 2021
   $ 39,505,306     $ 38,771,675     $ 18,213,691     $ 6,787     $ 96,497,459  
 2020
   $ 20,945,730     $ 12,685,477     $ 1,504,280     $ 10,809     $ 35,146,297  
 
Average
Non-PEO
NEOs
 
  Year
  
Average
Year-End

Fair Value
of Equity
Awards
Granted
During Year
That
Remained
Unvested
as of Last
Day of Year
for Non-PEO

NEOs
    
Average
Change in
Fair Value
from Last
Day of
Prior Year to
Last Day of
Year of
Unvested
Equity
Awards for
Non-PEO

NEOs
    
Average
Change in
Fair Value
from Last
Day of Prior
Year to
Vesting
Date of
Unvested
Equity
Awards that
Vested for
Non-PEO

NEOs
    
Average
Value of
Dividends
or Other
Earnings
Paid on
Equity
Awards
Not
Otherwise
Included
for
Non-PEO

NEOs
    
Total -
Average
Inclusion
of Equity
Values for
Non-PEO

NEOs
  
 2023
   $ 11,342,481     $ 1,190,742     ($ 306,856 )    $ 15,261     $ 12,241,628  
 2022
   $ 4,610,526     ($ 15,910 )    ($ 44,340 )    $ 7,991     $ 4,558,267  
 2021
   $ 11,452,689     $ 8,260,538     $ 2,864,745     $ 3,007     $ 22,580,979  
 2020
   $ 5,769,308     $ 2,893,500     $ 353,392     $ 5,558     $ 9,021,758  
3.
The Peer Group Total Shareholder Return (“TSR”) set forth in this table utilizes the S&P 500 Financials Index, which we also utilize in the stock performance graph required by Item 201(e) of Regulation
S-K
included in the Company’s Form
10-K
for the year ended December 31, 2023. The comparison assumes $100 was invested for the period starting December 31, 2019, through the end of the listed year in the Company and in the S&P 500 Financials Index, respectively. Historical stock performance is not necessarily indicative of future stock performance.
 
4.
We determined Adjusted EPS to be the most important financial performance measure used to link Company performance to CAP to our PEO and
Non-PEO
NEOs in 2022 and 2023. This performance measure may not have been the most important financial performance measure for years 2021 and 2020 and we may determine a different financial performance measure to be the most important financial performance measure in future years.
     
Company Selected Measure Name Adjusted EPS      
Named Executive Officers, Footnote
1.
The PEO for each year reflected in the table is Gregory C. Case, the Company’s CEO. The
non-PEO
NEOs are Christa Davies, Eric Andersen (for years 2020, 2021, 2022 and 2023 only), Lisa Stevens, Darren Zeidel (for years 2021, 2022 and 2023 only), John Bruno (for 2020 only) and Anthony Goland (for 2020 only).
     
Peer Group Issuers, Footnote The Peer Group Total Shareholder Return (“TSR”) set forth in this table utilizes the S&P 500 Financials Index, which we also utilize in the stock performance graph required by Item 201(e) of Regulation
S-K
included in the Company’s Form
10-K
for the year ended December 31, 2023. The comparison assumes $100 was invested for the period starting December 31, 2019, through the end of the listed year in the Company and in the S&P 500 Financials Index, respectively. Historical stock performance is not necessarily indicative of future stock performance. 		     
PEO Total Compensation Amount $ 23,661,834 $ 19,668,985 $ 19,868,384 $ 20,294,496
PEO Actually Paid Compensation Amount $ 26,595,162 18,544,322 101,103,407 39,560,227
Adjustment To PEO Compensation, Footnote
PEO
 
  Year
  
 
 
 
Summary
Compensation
Table Total for
PEO
    
Exclusion
of Stock
Awards for
PEO
    
Inclusion
of Equity
Values for
PEO
    
CAP to PEO
  
 2023
   $ 23,661,834     ($ 21,487,348 )    $ 24,420,677     $ 26,595,162  
 2022
   $ 19,668,985     ($ 17,497,455 )    $ 16,372,792     $ 18,544,322  
 2021
   $ 19,868,384     ($ 15,262,436 )    $ 96,497,459     $ 101,103,407  
 2020
   $ 20,294,496     ($ 15,880,566 )    $ 35,146,297     $ 39,560,227  
Average
Non-PEO
NEOs
 
  Year
  
Average
Summary
Compensation
Table Total
for Non-PEO

NEOs
    
Average
Exclusion
of Change
in Pension
Value for
Non-PEO

NEOs
    
Average
Exclusion
of Stock
Awards for
Non-PEO

NEOs
    
Average
Inclusion
of Equity
Values for
Non-PEO

NEOs
    
Average
CAP for
Non-PEO

NEOs
  
 2023
   $ 16,616,433     ($ 27,203 )    ($ 14,060,598 )    $ 12,241,628     $ 14,770,260  
 2022
   $ 6,643,617     $ 0     ($ 4,729,173 )    $ 4,558,267     $ 6,472,711  
 2021
   $ 7,644,425     $ 0     ($ 4,583,837 )    $ 22,580,979     $ 25,641,567  
 2020
   $ 6,898,103     ($ 76,821 )    ($ 4,387,596 )    $ 9,021,758     $ 11,455,444  
 
The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
 
PEO
 
  Year
  
Year-End

Fair Value
of Equity
Awards
Granted
During Year
That
Remained
Unvested
as of
Last Day
of Year
for
PEO
    
Change in
Fair Value
from Last
Day of Prior
Year to Last
Day of Year
of Unvested
Equity
Awards for
PEO
    
Change in
Fair Value
from Last
Day of Prior
Year to
Vesting Date
of Unvested
Equity
Awards that
Vested for
PEO
    
During Year
for PEO
Value of
Dividends
or Other
Earnings
Paid on
Equity
Awards Not
Otherwise
Included
for
PEO
    
Total -
Inclusion
of Equity
Values for
PEO
  
 2023
   $ 20,584,136     $ 4,938,480     ($ 1,119,228 )    $ 17,289     $ 24,420,677  
 2022
   $ 16,554,822     ($ 54,463 )    ($ 135,298 )    $ 7,731     $ 16,372,792  
 2021
   $ 39,505,306     $ 38,771,675     $ 18,213,691     $ 6,787     $ 96,497,459  
 2020
   $ 20,945,730     $ 12,685,477     $ 1,504,280     $ 10,809     $ 35,146,297  
 
Average
Non-PEO
NEOs
 
  Year
  
Average
Year-End

Fair Value
of Equity
Awards
Granted
During Year
That
Remained
Unvested
as of Last
Day of Year
for Non-PEO

NEOs
    
Average
Change in
Fair Value
from Last
Day of
Prior Year to
Last Day of
Year of
Unvested
Equity
Awards for
Non-PEO

NEOs
    
Average
Change in
Fair Value
from Last
Day of Prior
Year to
Vesting
Date of
Unvested
Equity
Awards that
Vested for
Non-PEO

NEOs
    
Average
Value of
Dividends
or Other
Earnings
Paid on
Equity
Awards
Not
Otherwise
Included
for
Non-PEO

NEOs
    
Total -
Average
Inclusion
of Equity
Values for
Non-PEO

NEOs
  
 2023
   $ 11,342,481     $ 1,190,742     ($ 306,856 )    $ 15,261     $ 12,241,628  
 2022
   $ 4,610,526     ($ 15,910 )    ($ 44,340 )    $ 7,991     $ 4,558,267  
 2021
   $ 11,452,689     $ 8,260,538     $ 2,864,745     $ 3,007     $ 22,580,979  
 2020
   $ 5,769,308     $ 2,893,500     $ 353,392     $ 5,558     $ 9,021,758  
      
Non-PEO NEO Average Total Compensation Amount $ 16,616,433 6,643,617 7,644,425 6,898,103
Non-PEO NEO Average Compensation Actually Paid Amount $ 14,770,260 6,472,711 25,641,567 11,455,444
Adjustment to Non-PEO NEO Compensation Footnote
PEO
 
  Year
  
 
 
 
Summary
Compensation
Table Total for
PEO
    
Exclusion
of Stock
Awards for
PEO
    
Inclusion
of Equity
Values for
PEO
    
CAP to PEO
  
 2023
   $ 23,661,834     ($ 21,487,348 )    $ 24,420,677     $ 26,595,162  
 2022
   $ 19,668,985     ($ 17,497,455 )    $ 16,372,792     $ 18,544,322  
 2021
   $ 19,868,384     ($ 15,262,436 )    $ 96,497,459     $ 101,103,407  
 2020
   $ 20,294,496     ($ 15,880,566 )    $ 35,146,297     $ 39,560,227  
Average
Non-PEO
NEOs
 
  Year
  
Average
Summary
Compensation
Table Total
for Non-PEO

NEOs
    
Average
Exclusion
of Change
in Pension
Value for
Non-PEO

NEOs
    
Average
Exclusion
of Stock
Awards for
Non-PEO

NEOs
    
Average
Inclusion
of Equity
Values for
Non-PEO

NEOs
    
Average
CAP for
Non-PEO

NEOs
  
 2023
   $ 16,616,433     ($ 27,203 )    ($ 14,060,598 )    $ 12,241,628     $ 14,770,260  
 2022
   $ 6,643,617     $ 0     ($ 4,729,173 )    $ 4,558,267     $ 6,472,711  
 2021
   $ 7,644,425     $ 0     ($ 4,583,837 )    $ 22,580,979     $ 25,641,567  
 2020
   $ 6,898,103     ($ 76,821 )    ($ 4,387,596 )    $ 9,021,758     $ 11,455,444  
 
The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
 
PEO
 
  Year
  
Year-End

Fair Value
of Equity
Awards
Granted
During Year
That
Remained
Unvested
as of
Last Day
of Year
for
PEO
    
Change in
Fair Value
from Last
Day of Prior
Year to Last
Day of Year
of Unvested
Equity
Awards for
PEO
    
Change in
Fair Value
from Last
Day of Prior
Year to
Vesting Date
of Unvested
Equity
Awards that
Vested for
PEO
    
During Year
for PEO
Value of
Dividends
or Other
Earnings
Paid on
Equity
Awards Not
Otherwise
Included
for
PEO
    
Total -
Inclusion
of Equity
Values for
PEO
  
 2023
   $ 20,584,136     $ 4,938,480     ($ 1,119,228 )    $ 17,289     $ 24,420,677  
 2022
   $ 16,554,822     ($ 54,463 )    ($ 135,298 )    $ 7,731     $ 16,372,792  
 2021
   $ 39,505,306     $ 38,771,675     $ 18,213,691     $ 6,787     $ 96,497,459  
 2020
   $ 20,945,730     $ 12,685,477     $ 1,504,280     $ 10,809     $ 35,146,297  
 
Average
Non-PEO
NEOs
 
  Year
  
Average
Year-End

Fair Value
of Equity
Awards
Granted
During Year
That
Remained
Unvested
as of Last
Day of Year
for Non-PEO

NEOs
    
Average
Change in
Fair Value
from Last
Day of
Prior Year to
Last Day of
Year of
Unvested
Equity
Awards for
Non-PEO

NEOs
    
Average
Change in
Fair Value
from Last
Day of Prior
Year to
Vesting
Date of
Unvested
Equity
Awards that
Vested for
Non-PEO

NEOs
    
Average
Value of
Dividends
or Other
Earnings
Paid on
Equity
Awards
Not
Otherwise
Included
for
Non-PEO

NEOs
    
Total -
Average
Inclusion
of Equity
Values for
Non-PEO

NEOs
  
 2023
   $ 11,342,481     $ 1,190,742     ($ 306,856 )    $ 15,261     $ 12,241,628  
 2022
   $ 4,610,526     ($ 15,910 )    ($ 44,340 )    $ 7,991     $ 4,558,267  
 2021
   $ 11,452,689     $ 8,260,538     $ 2,864,745     $ 3,007     $ 22,580,979  
 2020
   $ 5,769,308     $ 2,893,500     $ 353,392     $ 5,558     $ 9,021,758  
      
Compensation Actually Paid vs. Total Shareholder Return
     
Compensation Actually Paid vs. Net Income Our net income grew 27% over the 2019-2023 period reflective of strong growth and performance on our key financial metrics, including a decline of 1% for 2023. In 2023, we had adjusted operating income growth of 10%, driven by strong revenue growth, offset by expenses that were not representative of normal business operations and other
non-operating
expenses which resulted in a net income decline of 1% year over year. Net income performance does not have a strong relationship with the reported CAP to our PEO and
Non-PEO
NEOs given the lower relative weighting of this measurement of performance as compared to the others previously discussed. 		     
Compensation Actually Paid vs. Company Selected Measure
     
Total Shareholder Return Vs Peer Group
     
Tabular List, Table
Tabular List of Most Important Financial Performance Measures
The following table presents the financial performance measures that the Company considers to have been the most important in linking CAP to our PEO and
Non-PEO
NEOs for 2023 to Company performance. The measures in this table are not ranked.
 
 
Adjusted Earnings Per Share Growth
Adjusted Operating Income Growth
 
      
Total Shareholder Return Amount $ 144 148 147 102
Peer Group Total Shareholder Return Amount 133 119 133 98
Net Income (Loss) $ 2,564,000,000 $ 2,589,000,000 $ 1,308,000,000 $ 2,018,000,000
Company Selected Measure Amount 0.06 0.12 0.22 0.07
PEO Name Gregory C. Case      
Measure:: 1        
Pay vs Performance Disclosure        
Name Adjusted Earnings Per Share Growth      
Measure:: 2        
Pay vs Performance Disclosure        
Name Adjusted Operating Income Growth      
PEO | Exclusion of Stock Awards and Option Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (21,487,348) $ (17,497,455) $ (15,262,436) $ (15,880,566)
PEO | Inclusion of Equity Values [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 24,420,677 16,372,792 96,497,459 35,146,297
PEO | YearEnd Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 20,584,136 16,554,822 39,505,306 20,945,730
PEO | Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 4,938,480 (54,463) 38,771,675 12,685,477
PEO | Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (1,119,228) (135,298) 18,213,691 1,504,280
PEO | Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 17,289 7,731 6,787 10,809
PEO | Total Inclusion of Equity Values [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 24,420,677 16,372,792 96,497,459 35,146,297
Non-PEO NEO | Exclusion of Change in Pension Value [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (27,203) 0 0 (76,821)
Non-PEO NEO | Exclusion of Stock Awards and Option Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (14,060,598) (4,729,173) (4,583,837) (4,387,596)
Non-PEO NEO | Inclusion of Equity Values [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 12,241,628 4,558,267 22,580,979 9,021,758
Non-PEO NEO | YearEnd Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 11,342,481 4,610,526 11,452,689 5,769,308
Non-PEO NEO | Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,190,742 (15,910) 8,260,538 2,893,500
Non-PEO NEO | Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (306,856) (44,340) 2,864,745 353,392
Non-PEO NEO | Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 15,261 7,991 3,007 5,558
Non-PEO NEO | Total Inclusion of Equity Values [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 12,241,628 $ 4,558,267 $ 22,580,979 $ 9,021,758