Acquisitions and Dispositions

Acquisitions

During the three months ended September 30, 2014, the Company completed the acquisition of four businesses in the Risk Solutions segment and one business in the HR Solutions segment. During the nine months ended September 30, 2014, the Company completed the acquisition of seven businesses in the Risk Solutions segment and two businesses in the HR Solutions segment. During the three months ended September 30, 2013, the Company completed the acquisition of one business in the Risk Solutions segment and one business in the HR Solutions segment. During the nine months ended September 30, 2013, the Company completed the acquisition of five businesses in the Risk Solutions segment and two businesses in the HR 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 (in millions):



	Nine months ended September 30,
	2014		2013
Consideration	$	446	$	26
Intangible assets:
Goodwill	$	261	$	26
Other intangible assets	310		8
Total	$	571	$	34

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 in which they were acquired.

Dispositions

During the three months ended September 30, 2014, the Company completed the disposition of one business in the Risk Solutions segment. During the nine months ended September 30, 2014, the Company completed the disposition of two businesses in the Risk Solutions segment. A pretax gain of $25 million was recognized on these sales in the both the three and nine months ended September 30, 2014, which is included in Other income in the Condensed Consolidated Statements of Income. During the three months ended September 30, 2013, the Company completed the disposition of one business in the Risk Solutions segment. During the nine months ended September 30, 2013, the Company completed the disposition of five businesses in the Risk Solutions segment. A pretax gain of $0.2 million gain was recognized on these dispositions in both the three and nine months ended September 30, 2013, which is included in Other income in the Condensed Statements of Income.