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Discontinued Operations (Tables)
3 Months Ended
Mar. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
The following table presents the aggregate carrying amounts of the classes of assets and liabilities presented as discontinued operations within the Company’s Condensed Consolidated Statements of Financial Position (in millions):
 
 
March 31,
2017
 
December 31,
2016
ASSETS
 
 

 
 

Cash and cash equivalents
 
$
18

 
$
5

Receivables, net
 
412

 
483

Fiduciary assets
 
591

 
526

Goodwill
 
1,338

 
1,337

Intangible assets, net
 
322

 
333

Fixed assets, net
 
222

 
215

Other assets
 
283

 
295

TOTAL ASSETS
 
$
3,186

 
$
3,194

 
 
 
 
 
LIABILITIES
 
 

 
 

Accounts payable and accrued liabilities
 
$
114

 
$
197

Fiduciary liabilities
 
591

 
526

Other liabilities
 
331

 
356

TOTAL LIABILITIES
 
$
1,036

 
$
1,079

The following table presents financial results of the Divested Business (in millions):
 
 
Three Months Ended

 
March 31, 2017
 
March 31, 2016
Revenue
 
 
 
 
Total Revenue
 
$
527

 
$
529

Expenses
 
 
 
 
Total Operating Expenses (1)
 
470

 
486

Income from discontinued operations before income taxes
 
57

 
43

Income taxes
 
17

 
18

Income from discontinued operations, net of tax
 
$
40

 
$
25

(1)
Upon triggering held for sale criteria in February 2017, Aon ceased depreciating and amortizing all long-lived assets included in discontinued operations. Specifically, included within Total operating expenses was $8 million and $18 million, respectively, of depreciation of fixed assets and $11 million and $30 million, respectively, of intangible asset amortization for the three months ended March 31, 2017 and 2016.