Guarantee of Registered Securities (Tables)

12 Months Ended

Dec. 31, 2014

Condensed Consolidating Statement of Income



	Year Ended December 31, 2014
(millions)	Aon plc			Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Revenue
Commissions, fees and other	$	—		$	—		$	12,019		$	—		$	12,019
Fiduciary investment income	—			—			26			—			26
Total revenue	—			—			12,045			—			12,045
Expenses
Compensation and benefits	140			16			6,858			—			7,014
Other general expenses	3			5			3,057			—			3,065
Total operating expenses	143			21			9,915			—			10,079
Operating (loss) income	(143		)	(21		)	2,130			—			1,966
Interest income	(9		)	2			17			—			10
Interest expense	(75		)	(139		)	(41		)	—			(255		)
Intercompany interest income (expense)	449			(298		)	(151		)	—			—
Intercompany other income (expense)	342			(390		)	48			—			—
Other Income	2			5			37			—			44
Income (loss) before taxes	566			(841		)	2,040			—			1,765
Income tax expense (benefit)	74			(192		)	452			—			334
Income (loss) before equity in earnings of subsidiaries	492			(649		)	1,588			—			1,431
Equity in earnings of subsidiaries, net of tax	905			1,214			—			(2,119		)	—
Net income	1,397			565			1,588			(2,119		)	1,431
Less: Net income attributable to noncontrolling interests	—			—			34			—			34
Net income attributable to Aon shareholders	$	1,397		$	565		$	1,554		$	(2,119	)	$	1,397

Condensed Consolidating Statement of Income



	Year Ended December 31, 2013
(millions)	Aon plc			Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Revenue
Commissions, fees and other	$	3		$	—		$	11,784		$	—		$	11,787
Fiduciary investment income	—			—			28			—			28
Total revenue	3			—			11,812			—			11,815
Expenses
Compensation and benefits	111			50			6,784			—			6,945
Other general expenses	—			—			3,199			—			3,199
Total operating expenses	111			50			9,983			—			10,144
Operating (loss) income	(108		)	(50		)	1,829			—			1,671
Interest income	—			3			6			—			9
Interest expense	(20		)	(138		)	(52		)	—			(210		)
Intercompany interest income (expense)	120			24			(144		)	—			—
Intercompany other income (expense)	38			(168		)	130			—			—
Other income	—			19			49			—			68
Income (loss) before taxes	30			(310		)	1,818			—			1,538
Income tax expense (benefit)	12			(64		)	442			—			390
Income (loss) before equity in earnings of subsidiaries	18			(246		)	1,376			—			1,148
Equity in earnings of subsidiaries, net of tax	1,095			1,061			—			(2,156		)	—
Net income	1,113			815			1,376			(2,156		)	1,148
Less: Net income attributable to noncontrolling interests	—			—			35			—			35
Net income attributable to Aon shareholders	$	1,113		$	815		$	1,341		$	(2,156	)	$	1,113

Condensed Consolidating Statement of Income



	Year Ended December 31, 2012
(millions)	Aon plc			Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustment			Consolidated
Revenue
Commissions, fees and other	$	2		$	1		$	11,474		$	(1	)	$	11,476
Fiduciary investment income	—			1			37			—			38
Total revenue	2			2			11,511			(1		)	11,514
Expenses
Compensation and benefits	40			50			6,619			—			6,709
Other general expenses	31			5			3,174			(1		)	3,209
Total operating expenses	71			55			9,793			(1		)	9,918
Operating (loss) income	(69		)	(53		)	1,718			—			1,596
Interest income	—			1			9			—			10
Interest expense	—			(164		)	(64		)	—			(228		)
Intercompany interest (expense) income	(19		)	190			(171		)	—			—
Intercompany other (expense) income	(64		)	38			26			—			—
Other income (expense)	—			3			(1		)	—			2
(Loss) income before taxes	(152		)	15			1,517			—			1,380
Income tax (benefit) expense	(37		)	8			389			—			360
(Loss) income before equity in earnings of subsidiaries	(115		)	7			1,128			—			1,020
Equity in earnings of subsidiaries, net of tax	1,108			932			—			(2,040		)	—
Net income	993			939			1,128			(2,040		)	1,020
Less: Net income attributable to noncontrolling interests	—			—			27			—			27
Net income attributable to Aon shareholders	$	993		$	939		$	1,101		$	(2,040	)	$	993

Condensed Consolidating Statement of Comprehensive Income



	Year Ended December 31, 2014
(millions)	Aon plc			Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Net income	$	1,397		$	565		$	1,588		$	(2,119	)	$	1,431
Less: Net income attributable to noncontrolling interests	—			—			34			—			34
Net income attributable to Aon shareholders	$	1,397		$	565		$	1,554		$	(2,119	)	$	1,397
Other comprehensive (loss) income, net of tax:
Change in fair value of investments	—			—			(1		)	—			(1		)
Change in fair value of derivatives	—			(3		)	8			—			5
Foreign currency translation adjustments	—			(31		)	(476		)	—			(507		)
Post-retirement benefit obligation	—			(315		)	55			—			(260		)
Total other comprehensive loss	—			(349		)	(414		)	—			(763		)
Equity in other comprehensive loss of subsidiaries, net of tax	(760		)	(411		)	—			1,171			—
Less: Other comprehensive loss attributable to noncontrolling interests	—			—			(3		)	—			(3		)
Total other comprehensive loss attributable to Aon shareholders	(760		)	(760		)	(411		)	1,171			(760		)
Comprehensive income attributable to Aon shareholders	$	637		$	(195	)	$	1,143		$	(948	)	$	637

Condensed Consolidating Statement of Comprehensive Income



	Year Ended December 31, 2013
(millions)	Aon plc		Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Net income	$	1,113	$	815		$	1,376		$	(2,156	)	$	1,148
Less: Net income attributable to noncontrolling interests	—		—			35			—			35
Net income attributable to Aon shareholders	$	1,113	$	815		$	1,341		$	(2,156	)	$	1,113
Other comprehensive income (loss), net of tax:
Change in fair value of investments	—		—			1			—			1
Change in fair value of derivatives	—		5			1			—			6
Foreign currency translation adjustments	—		(60		)	(5		)	—			(65		)
Post-retirement benefit obligation	—		223			70			—			293
Total other comprehensive loss	—		168			67			—			235
Equity in other comprehensive income of subsidiaries, net of tax	236		69			—			(305		)	—
Less: Other comprehensive loss attributable to noncontrolling interests	—		—			(1		)	—			(1		)
Total other comprehensive income attributable to Aon shareholders	236		237			68			(305		)	236
Comprehensive income attributable to Aon shareholders	$	1,349	$	1,052		$	1,409		$	(2,461	)	$	1,349

Condensed Consolidating Statement of Comprehensive Income



	Year Ended December 31, 2012
(millions)	Aon plc			Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Net income	$	993		$	939		$	1,128		$	(2,040	)	$	1,020
Less: Net income attributable to noncontrolling interests	—			—			27			—			27
Net income attributable to Aon shareholders	$	993		$	939		$	1,101		$	(2,040	)	$	993
Other comprehensive loss, net of tax:
Change in fair value of derivatives	—			2			7			—			9
Foreign currency translation adjustments	—			24			85			—			109
Post-retirement benefit obligation	—			(68		)	(290		)	—			(358		)
Total other comprehensive loss	—			(42		)	(198		)	—			(240		)
Equity in other comprehensive loss of subsidiaries, net of tax	(240		)	(187		)	—			427			—
Less: Other comprehensive income attributable to noncontrolling interests	—			—			—			—			—
Total other comprehensive loss attributable to Aon shareholders	(240		)	(229		)	(198		)	427			(240		)
Comprehensive income attributable to Aon shareholders	$	753		$	710		$	903		$	(1,613	)	$	753

Condensed Consolidating Statement of Financial Position



	As of December 31, 2014
(millions)	Aon plc		Aon Corporation		Other Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated
ASSETS
Cash and cash equivalents	$	—	$	2,727	$	1,361	$	(3,714	)	$	374
Short-term investments	—		165		229		—			394
Receivables, net	—		—		2,815		—			2,815
Fiduciary assets	—		—		11,638		—			11,638
Intercompany receivables	455		2,814		9,156		(12,425		)	—
Other current assets	2		226		407		(33		)	602
Total Current Assets	457		5,932		25,606		(16,172		)	15,823
Goodwill	—		—		8,860		—			8,860
Intangible assets, net	—		—		2,520		—			2,520
Fixed assets, net	—		—		765		—			765
Investments	—		81		62		—			143
Deferred tax assets	159		570		113		(698		)	144
Intercompany receivables	7,399		600		111		(8,110		)	—
Other non-current assets	20		46		1,543		(92		)	1,517
Investment in subsidiary	4,962		15,200		—		(20,162		)	—
TOTAL ASSETS	$	12,997	$	22,429	$	39,580	$	(45,234	)	$	29,772
LIABILITIES AND EQUITY
Fiduciary liabilities	$	—	$	—	$	11,638	$	—		$	11,638
Short-term debt and current portion of long-term debt	—		767		16		—			783
Accounts payable and accrued liabilities	3,755		58		1,706		(3,714		)	1,805
Intercompany payables	122		8,960		3,343		(12,425		)	—
Other current liabilities	—		49		772		(33		)	788
Total Current Liabilities	3,877		9,834		17,475		(16,172		)	15,014
Long-term debt	2,544		1,917		338		—			4,799
Deferred tax liabilities	—		—		1,011		(698		)	313
Pension, other post-retirement and other post-employment liabilities	—		1,396		745		—			2,141
Intercompany payables	—		7,277		833		(8,110		)	—
Other non-current liabilities	5		125		836		(92		)	874
TOTAL LIABILITIES	6,426		20,549		21,238		(25,072		)	23,141
TOTAL AON SHAREHOLDERS’ EQUITY	6,571		1,880		18,282		(20,162		)	6,571
Noncontrolling interests	—		—		60		—			60
TOTAL EQUITY	6,571		1,880		18,342		(20,162		)	6,631
TOTAL LIABILITIES AND EQUITY	$	12,997	$	22,429	$	39,580	$	(45,234	)	$	29,772

Condensed Consolidating Statement of Financial Position



	As of December 31, 2013
(millions)	Aon plc		Aon Corporation		Other Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated
ASSETS
Cash and cash equivalents	$	—	$	247	$	1,246	$	(1,016	)	$	477
Short-term investments	—		163		360		—			523
Receivables, net	—		4		2,892		—			2,896
Fiduciary assets	—		—		11,871		—			11,871
Intercompany receivables	186		3,503		5,452		(9,141		)	—
Other current assets	—		69		513		(19		)	563
Total Current Assets	186		3,986		22,334		(10,176		)	16,330
Goodwill	—		—		8,997		—			8,997
Intangible assets, net	—		—		2,578		—			2,578
Fixed assets, net	—		—		791		—			791
Investments	—		57		75		—			132
Deferred tax assets	140		465		193		(605		)	193
Intercompany receivables	7,166		2,178		2,201		(11,545		)	—
Other non-current assets	6		95		1,228		(99		)	1,230
Investment in subsidiary	4,607		11,694		—		(16,301		)	—
TOTAL ASSETS	$	12,105	$	18,475	$	38,397	$	(38,726	)	$	30,251
LIABILITIES AND EQUITY
Fiduciary liabilities	$	—	$	—	$	11,871	$	—		$	11,871
Short-term debt and current portion of long-term debt	—		—		707		(4		)	703
Accounts payable and accrued liabilities	1,036		62		1,849		(1,016		)	1,931
Intercompany payables	15		5,449		3,677		(9,141		)	—
Other current liabilities	12		47		866		(19		)	906
Total Current Liabilities	1,063		5,558		18,970		(10,180		)	15,411
Long-term debt	792		2,512		378		4			3,686
Deferred tax liabilities	—		—		1,025		(605		)	420
Pension, other post-retirement and other post-employment liabilities	—		925		682		—			1,607
Intercompany payables	2,100		7,267		2,178		(11,545		)	—
Other non-current liabilities	5		159		867		(99		)	932
TOTAL LIABILITIES	3,960		16,421		24,100		(22,425		)	22,056
TOTAL AON SHAREHOLDERS’ EQUITY	8,145		2,054		14,247		(16,301		)	8,145
Noncontrolling interests	—		—		50		—			50
TOTAL EQUITY	8,145		2,054		14,297		(16,301		)	8,195
TOTAL LIABILITIES AND EQUITY	$	12,105	$	18,475	$	38,397	$	(38,726	)	$	30,251

Condensed Consolidating Statement of Cash Flows



	Year Ended December 31, 2014
(millions)	Aon plc			Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES	$	599		$	(927	)	$	1,970		$	—		$	1,642
CASH FLOWS FROM INVESTING ACTIVITIES
Sales of long-term investments	—			39			13			—			52
Purchase of long-term investments	—			(20		)	—			—			(20		)
Net (purchases) sales of short-term investments - non-fiduciary	—			(3		)	113			—			110
Acquisition of businesses, net of cash acquired	—			—			(479		)	—			(479		)
Proceeds from sale of businesses	—			—			48			—			48
Capital expenditures	—			—			(256		)	—			(256		)
CASH USED FOR (PROVIDED BY) INVESTING ACTIVITIES	—			16			(561		)	—			(545		)
CASH FLOWS FROM FINANCING ACTIVITIES
Share repurchase	(2,250		)	—			—			—			(2,250		)
Advances from (to) affiliates	19			3,215			(536		)	(2,698		)	—
Issuance of shares for employee benefit plans	65			—			—			—			65
Issuance of debt	2,908			2,326			5			—			5,239
Repayment of debt	(1,068		)	(2,150		)	(700		)	—			(3,918		)
Cash dividends to shareholders	(273		)	—			—			—			(273		)
Purchase of shares from noncontrolling interests	—			—			3			—			3
Dividends paid to noncontrolling interests	—			—			(24		)	—			(24		)
Proceeds from sale-leaseback	—			—			25			—			25
CASH (USED FOR) PROVIDED BY FINANCING ACTIVITIES	(599		)	3,391			(1,227		)	(2,698		)	(1,133		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			(67		)	—			(67		)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	—			2,480			115			(2,698		)	(103		)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	—			247			1,246			(1,016		)	477
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	—		$	2,727		$	1,361		$	(3,714	)	$	374

Condensed Consolidating Statement of Cash Flows



	Year Ended December 31, 2013
(millions)	Aon plc			Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES	$	(50	)	$	(441	)	$	2,124		$	—		$	1,633
CASH FLOWS FROM INVESTING ACTIVITIES
Sales of long-term investments	—			8			85			—			93
Purchase of long-term investments	—			(15		)	—			—			(15		)
Net purchases of short-term investments - non-fiduciary	—			(74		)	(100		)	—			(174		)
Acquisition of businesses, net of cash acquired	—			—			(54		)	—			(54		)
Proceeds from sale of businesses	—			7			33			—			40
Capital expenditures	—			—			(229		)	—			(229		)
CASH USED FOR INVESTING ACTIVITIES	—			(74		)	(265		)	—			(339		)
CASH FLOWS FROM FINANCING ACTIVITIES
Share repurchase	(1,102		)	—			—			—			(1,102		)
Advances from (to) affiliates	460			996			(479		)	(977		)	—
Issuance of shares for employee benefit plans	98			—			—			—			98
Issuance of debt	1,730			2,944			232			—			4,906
Repayment of debt	(1,055		)	(3,377		)	(247		)	—			(4,679		)
Cash dividends to shareholders	(212		)	—			—			—			(212		)
Purchase of shares from noncontrolling interests	—			—			(8		)	—			(8		)
Dividends paid to noncontrolling interests	—			—			(19		)	—			(19		)
CASH (USED FOR) PROVIDED BY FINANCING ACTIVITIES	(81		)	563			(521		)	(977		)	(1,016		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			(92		)	—			(92		)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(131		)	48			1,246			(977		)	186
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	131			199			—			(39		)	291
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	—		$	247		$	1,246		$	(1,016	)	$	477

Condensed Consolidating Statement of Cash Flows



	Year Ended December 31, 2012
(millions)	Aon plc			Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES	$	(87	)	$	(105	)	$	1,611		$	—		$	1,419
CASH FLOWS FROM INVESTING ACTIVITIES
Sales of long-term investments	—			79			99			—			178
Purchase of long-term investments	—			(12		)	—			—			(12		)
Net sales of short-term investments - non-fiduciary	—			232			208			—			440
Acquisition of businesses, net of cash acquired	(50		)	(55		)	(57		)	—			(162		)
Proceeds from sale of businesses	—			—			2			—			2
Capital expenditures	—			—			(269		)	—			(269		)
CASH (USED FOR) PROVIDED BY INVESTING ACTIVITIES	(50		)	244			(17		)	—			177
CASH FLOWS FROM FINANCING ACTIVITIES
Share repurchase	(1,025		)	(100		)	—			—			(1,125		)
Advances from (to) affiliates	1,379			489			(1,850		)	(18		)	—
Issuance of shares for employee benefit plans	69			49			—			—			118
Issuance of debt	—			732			1			—			733
Repayment of debt	—			(1,061		)	(16		)	—			(1,077		)
Cash dividends to shareholders	(155		)	(49		)	—			—			(204		)
Purchase of shares from noncontrolling interests	—			—			(4		)	—			(4		)
Dividends paid to noncontrolling interests	—			—			(27		)	—			(27		)
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES	268			60			(1,896		)	(18		)	(1,586		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			9			—			9
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	131			199			(293		)	(18		)	19
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	—			—			293			(21		)	272
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	131		$	199		$	—		$	(39	)	$	291