Guarantee of Registered Securities (Tables)

6 Months Ended

Jun. 30, 2018

Guarantee of Registered Securities [Abstract]

Condensed Consolidating Statements of Income

Condensed Consolidating Statement of Income

	Three months ended June 30, 2018
(millions)	Aon plc			Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Revenue
Total revenue	$	—		$	—		$	2,561		$	—		$	2,561
Expenses
Compensation and benefits	15			1			1,478			—			1,494
Information technology	—			—			123			—			123
Premises	—			—			96			—			96
Depreciation of fixed assets	—			—			47			—			47
Amortization and impairment of intangible assets	—			—			282			—			282
Other general expenses	2			78			455			—			535
Total operating expenses	17			79			2,481			—			2,577
Operating income (loss)	(17		)	(79		)	80			—			(16		)
Interest income	—			15			—			(14		)	1
Interest expense	(48		)	(25		)	(10		)	14			(69		)
Intercompany interest income (expense)	3			(129		)	126			—			—
Intercompany other income (expense)	(61		)	(3		)	64			—			—
Other income (expense)	16			(20		)	19			(18		)	(3		)
Income (loss) from continuing operations before income taxes	(107		)	(241		)	279			(18		)	(87		)
Income tax expense (benefit)	(3		)	(50		)	(91		)	—			(144		)
Net income (loss) from continuing operations	(104		)	(191		)	370			(18		)	57
Net Income from discontinued operations	—			—			1			—			1
Net income (loss) before equity in earnings of subsidiaries	(104		)	(191		)	371			(18		)	58
Equity in earnings of subsidiaries, net of tax	170			206			15			(391		)	—
Net income	66			15			386			(409		)	58
Less: Net income attributable to noncontrolling interests	—			—			10			—			10
Net income attributable to Aon shareholders	$	66		$	15		$	376		$	(409	)	$	48

Condensed Consolidating Statement of Income

	Three months ended June 30, 2017
(millions)	Aon plc			Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Revenue
Total revenue	$	—		$	—		$	2,368		$	—		$	2,368
Expenses
Compensation and benefits	8			3			1,455			—			1,466
Information technology	—			—			98			—			98
Premises	—			—			86			—			86
Depreciation of fixed assets	—			—			54			—			54
Amortization and impairment of intangible assets	—			—			460			—			460
Other general expenses	4			(6		)	333			—			331
Total operating expenses	12			(3		)	2,486			—			2,495
Operating income (loss)	(12		)	3			(118		)	—			(127		)
Interest income	—			11			2			(5		)	8
Interest expense	(46		)	(23		)	(7		)	5			(71		)
Intercompany interest income (expense)	4			(136		)	132			—			—
Intercompany other income (expense)	(53		)	(16		)	69			—			—
Other income (expense)	(12		)	(6		)	12			10			4
Income (loss) from continuing operations before income taxes	(119		)	(167		)	90			10			(186		)
Income tax expense (benefit)	(8		)	(63		)	(72		)	—			(143		)
Net income (loss) from continuing operations	(111		)	(104		)	162			10			(43		)
Net Income from discontinued operations	—			—			821			—			821
Net income (loss) before equity in earnings of subsidiaries	(111		)	(104		)	983			10			778
Equity in earnings of subsidiaries, net of tax	870			635			531			(2,036		)	—
Net income	759			531			1,514			(2,026		)	778
Less: Net income attributable to noncontrolling interests	—			—			9			—			9
Net income attributable to Aon shareholders	$	759		$	531		$	1,505		$	(2,026	)	$	769

Condensed Consolidating Statement of Income

	Six months ended June 30, 2018
(millions)	Aon plc			Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Revenue
Total revenue	$	—		$	—		$	5,651		$	—		$	5,651
Expenses
Compensation and benefits	34			2			3,074			—			3,110
Information technology	—			—			238			—			238
Premises	—			—			189			—			189
Depreciation of fixed assets	—			—			86			—			86
Amortization and impairment of intangible assets	—			—			392			—			392
Other general expenses	3			78			772			—			853
Total operating expenses	37			80			4,751			—			4,868
Operating income (loss)	(37		)	(80		)	900			—			783
Interest income	—			29			—			(24		)	5
Interest expense	(97		)	(49		)	(17		)	24			(139		)
Intercompany interest income (expense)	7			(257		)	250			—			—
Intercompany other income (expense)	(132		)	(8		)	140			—			—
Other income (expense)	9			(26		)	14			(15		)	(18		)
Income (loss) from continuing operations before income taxes	(250		)	(391		)	1,287			(15		)	631
Income tax expense (benefit)	(19		)	(77		)	66			—			(30		)
Net income (loss) from continuing operations	(231		)	(314		)	1,221			(15		)	661
Net Income from discontinued operations	—			—			7			—			7
Net income (loss) before equity in earnings of subsidiaries	(231		)	(314		)	1,228			(15		)	668
Equity in earnings of subsidiaries, net of tax	888			910			596			(2,394		)	—
Net income	657			596			1,824			(2,409		)	668
Less: Net income attributable to noncontrolling interests	—			—			26			—			26
Net income attributable to Aon shareholders	$	657		$	596		$	1,798		$	(2,409	)	$	642

Condensed Consolidating Statement of Income

	Six months ended June 30, 2017
(millions)	Aon plc			Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Revenue
Total revenue	$	—		$	—		$	4,749		$	—		$	4,749
Expenses
Compensation and benefits	60			6			2,869			—			2,935
Information technology	—			—			186			—			186
Premises	—			—			170			—			170
Depreciation of fixed assets	—			—			108			—			108
Amortization and impairment of intangible assets	—			—			503			—			503
Other general expenses	9			(4		)	634			—			639
Total operating expenses	69			2			4,470			—			4,541
Operating income (loss)	(69		)	(2		)	279			—			208
Interest income	—			17			—			(7		)	10
Interest expense	(91		)	(47		)	(10		)	7			(141		)
Intercompany interest income (expense)	7			(272		)	265			—			—
Intercompany other income (expense)	(102		)	(9		)	111			—			—
Other income (expense)	(23		)	3			4			18			2
Income (loss) from continuing operations before income taxes	(278		)	(310		)	649			18			79
Income tax expense (benefit)	(22		)	(117		)	(4		)	—			(143		)
Net income (loss) from continuing operations	(256		)	(193		)	653			18			222
Net Income from discontinued operations	—			—			861			—			861
Net income (loss) before equity in earnings of subsidiaries	(256		)	(193		)	1,514			18			1,083
Equity in earnings of subsidiaries, net of tax	1,298			906			713			(2,917		)	—
Net income	1,042			713			2,227			(2,899		)	1,083
Less: Net income attributable to noncontrolling interests	—			—			23			—			23
Net income attributable to Aon shareholders	$	1,042		$	713		$	2,204		$	(2,899	)	$	1,060

Condensed Consolidating Statements of Comprehensive Income

Condensed Consolidating Statement of Comprehensive Income

	Three months ended June 30, 2018
(millions)	Aon plc			Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Net income	$	66		$	15		$	386		$	(409	)	$	58
Less: Net income attributable to noncontrolling interests	—			—			10			—			10
Net income attributable to Aon shareholders	66			15			376			(409		)	48
Other comprehensive income (loss), net of tax:
Change in fair value of financial instruments	—			(4		)	3			—			(1		)
Foreign currency translation adjustments	—			—			(478		)	18			(460		)
Postretirement benefit obligation	—			11			111			—			122
Total other comprehensive income (loss)	—			7			(364		)	18			(339		)
Equity in other comprehensive income (loss) of subsidiaries, net of tax	(351		)	(345		)	(338		)	1,034			—
Less: Other comprehensive loss attributable to noncontrolling interests	—			—			(6		)	—			(6		)
Total other comprehensive income (loss) attributable to Aon shareholders	(351		)	(338		)	(696		)	1,052			(333		)
Comprehensive income (loss) attributable to Aon shareholders	$	(285	)	$	(323	)	$	(320	)	$	643		$	(285	)

Condensed Consolidating Statement of Comprehensive Income

	Three months ended June 30, 2017
(millions)	Aon plc		Aon Corporation		Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Net income	$	759	$	531	$	1,514		$	(2,026	)	$	778
Less: Net income attributable to noncontrolling interests	—		—		9			—			9
Net income attributable to Aon shareholders	759		531		1,505			(2,026		)	769
Other comprehensive income (loss), net of tax:
Change in fair value of financial instruments	—		2		2			—			4
Foreign currency translation adjustments	—		—		54			(10		)	44
Postretirement benefit obligation	—		8		12			—			20
Total other comprehensive income (loss)	—		10		68			(10		)	68
Equity in other comprehensive income (loss) of subsidiaries, net of tax	83		71		81			(235		)	—
Less: Other comprehensive loss attributable to noncontrolling interests	—		—		(5		)	—			(5		)
Total other comprehensive income (loss) attributable to Aon shareholders	83		81		154			(245		)	73
Comprehensive income (loss) attributable to Aon shareholders	$	842	$	612	$	1,659		$	(2,271	)	$	842

Condensed Consolidating Statement of Comprehensive Income

	Six months ended June 30, 2018
(millions)	Aon plc			Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Net income	$	657		$	596		$	1,824		$	(2,409	)	$	668
Less: Net income attributable to noncontrolling interests	—			—			26			—			26
Net income attributable to Aon shareholders	657			596			1,798			(2,409		)	642
Other comprehensive income (loss), net of tax:
Change in fair value of financial instruments	—			(1		)	14			—			13
Foreign currency translation adjustments	—			—			(228		)	15			(213		)
Postretirement benefit obligation	—			22			148			—			170
Total other comprehensive income (loss)	—			21			(66		)	15			(30		)
Equity in other comprehensive income (loss) of subsidiaries, net of tax	(42		)	(60		)	(39		)	141			—
Less: Other comprehensive loss attributable to noncontrolling interests	—			—			(3		)	—			(3		)
Total other comprehensive income (loss) attributable to Aon shareholders	(42		)	(39		)	(102		)	156			(27		)
Comprehensive income (loss) attributable to Aon shareholders	$	615		$	557		$	1,696		$	(2,253	)	$	615

Condensed Consolidating Statement of Comprehensive Income

	Six months ended June 30, 2017
(millions)	Aon plc		Aon Corporation		Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Net income	$	1,042	$	713	$	2,227		$	(2,899	)	$	1,083
Less: Net income attributable to noncontrolling interests	—		—		23			—			23
Net income attributable to Aon shareholders	1,042		713		2,204			(2,899		)	1,060
Other comprehensive income (loss), net of tax:
Change in fair value of financial instruments	—		—		2			—			2
Foreign currency translation adjustments	—		—		209			(18		)	191
Postretirement benefit obligation	—		16		22			—			38
Total other comprehensive income (loss)	—		16		233			(18		)	231
Equity in other comprehensive income (loss) of subsidiaries, net of tax	253		235		251			(739		)	—
Less: Other comprehensive loss attributable to noncontrolling interests	—		—		(4		)	—			(4		)
Total other comprehensive income (loss) attributable to Aon shareholders	253		251		488			(757		)	235
Comprehensive income (loss) attributable to Aon shareholders	$	1,295	$	964	$	2,692		$	(3,656	)	$	1,295

Condensed Consolidating Statements of Financial Position

Condensed Consolidating Statement of Financial Position

	As of June 30, 2018
(millions)	Aon plc		Aon Corporation		Other Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated
Assets
Current assets
Cash and cash equivalents	$	—	$	2,927	$	672	$	(3,112	)	$	487
Short-term investments	—		59		114		—			173
Receivables, net	—		—		2,992		—			2,992
Fiduciary assets	—		—		10,476		—			10,476
Current intercompany receivables	171		3,343		11,424		(14,938		)	—
Other current assets	—		3		729		—			732
Total current assets	171		6,332		26,407		(18,050		)	14,860
Goodwill	—		—		8,291		—			8,291
Intangible assets, net	—		—		1,363		—			1,363
Fixed assets, net	—		—		575		—			575
Deferred tax assets	99		410		135		(192		)	452
Non-current intercompany receivables	409		261		8,254		(8,924		)	—
Prepaid pension	—		6		1,266		—			1,272
Other non-current assets	1		28		375		—			404
Investment in subsidiary	10,235		19,008		926		(30,169		)	—
Total assets	$	10,915	$	26,045	$	47,592	$	(57,335	)	$	27,217
Liabilities and equity
Liabilities
Current liabilities
Accounts payable and accrued liabilities	$	1,452	$	67	$	3,040	$	(3,112	)	$	1,447
Short-term debt and current portion of long-term debt	459		339		1		—			799
Fiduciary liabilities	—		—		10,476		—			10,476
Current intercompany payables	214		13,364		1,360		(14,938		)	—
Other current liabilities	—		62		1,059		—			1,121
Total current liabilities	2,125		13,832		15,936		(18,050		)	13,843
Long-term debt	4,243		1,415		1		—			5,659
Deferred tax liabilities	—		—		486		(192		)	294
Pension, other postretirement and postemployment liabilities	—		1,349		366		—			1,715
Non-current intercompany payables	—		8,419		505		(8,924		)	—
Other non-current liabilities	2		104		982		—			1,088
Total liabilities	6,370		25,119		18,276		(27,166		)	22,599
Total Aon shareholders’ equity	4,545		926		29,243		(30,169		)	4,545
Noncontrolling interests	—		—		73		—			73
Total equity	4,545		926		29,316		(30,169		)	4,618
Total liabilities and equity	$	10,915	$	26,045	$	47,592	$	(57,335	)	$	27,217

Condensed Consolidating Statement of Financial Position

	As of December 31, 2017
(millions)	Aon plc		Aon Corporation		Other Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated
Assets
Current assets
Cash and cash equivalents	$	1	$	2,524	$	793	$	(2,562	)	$	756
Short-term investments	—		355		174		—			529
Receivables, net	—		2		2,476		—			2,478
Fiduciary assets	—		—		9,625		—			9,625
Current intercompany receivables	165		1,046		10,824		(12,035		)	—
Other current assets	1		29		259		—			289
Total current assets	167		3,956		24,151		(14,597		)	13,677
Goodwill	—		—		8,358		—			8,358
Intangible assets, net	—		—		1,733		—			1,733
Fixed assets, net	—		—		564		—			564
Deferred tax assets	99		396		143		(249		)	389
Non-current intercompany receivables	414		261		8,232		(8,907		)	—
Prepaid pension	—		6		1,054		—			1,060
Other non-current assets	1		35		271		—			307
Investment in subsidiary	8,884		17,909		19		(26,812		)	—
Total assets	$	9,565	$	22,563	$	44,525	$	(50,565	)	$	26,088
Liabilities and equity
Liabilities
Current liabilities
Accounts payable and accrued liabilities	$	574	$	36	$	3,913	$	(2,562	)	$	1,961
Short-term debt and current portion of long-term debt	—		—		299		—			299
Fiduciary liabilities	—		—		9,625		—			9,625
Current intercompany payables	130		11,149		756		(12,035		)	—
Other current liabilities	16		64		790		—			870
Total current liabilities	720		11,249		15,383		(14,597		)	12,755
Long-term debt	4,251		1,415		1		—			5,667
Deferred tax liabilities	—		—		376		(249		)	127
Pension, other postretirement and postemployment liabilities	—		1,391		398		—			1,789
Non-current intercompany payables	—		8,398		509		(8,907		)	—
Other non-current liabilities	11		91		1,000		—			1,102
Total liabilities	4,982		22,544		17,667		(23,753		)	21,440
Total Aon shareholders’ equity	4,583		19		26,793		(26,812		)	4,583
Noncontrolling interests	—		—		65		—			65
Total equity	4,583		19		26,858		(26,812		)	4,648
Total liabilities and equity	$	9,565	$	22,563	$	44,525	$	(50,565	)	$	26,088

Condensed Consolidating Statements of Cash Flows

Condensed Consolidating Statement of Cash Flows

	Six months ended June 30, 2018
(millions)	Aon plc			Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Cash flows from operating activities
Cash provided by (used for) operating activities - continuing operations	$	(126	)	$	582		$	759		$	(802	)	$	413
Cash provided by operating activities - discontinued operations	—			—			—			—			—
Cash provided by (used for) operating activities	(126		)	582			759			(802		)	413
Cash flows from investing activities
Proceeds from investments	—			13			10			—			23
Payments for investments	(12		)	(17		)	(19		)	12			(36		)
Net sales (purchases) of short-term investments - non-fiduciary	—			296			56			—			352
Acquisition of businesses, net of cash acquired	—			—			(50		)				(50		)
Sale of businesses, net of cash sold	—			—			1			—			1
Capital expenditures	—			—			(111		)	—			(111		)
Cash provided by (used for) investing activities - continuing operations	(12		)	292			(113		)	12			179
Cash used for investing activities - discontinued operations	—			—			—			—			—
Cash provided by (used for) investing activities	(12		)	292			(113		)	12			179
Cash flows from financing activities
Share repurchase	(971		)	—			—			—			(971		)
Advances from (to) affiliates	965			(810		)	(395		)	240			—
Issuance of shares for employee benefit plans	(150		)	—			—			—			(150		)
Issuance of debt	752			1,800			—			—			2,552
Repayment of debt	(272		)	(1,461		)	(294		)	—			(2,027		)
Cash dividends to shareholders	(187		)	—			—			—			(187		)
Noncontrolling interests and other financing activities	—			—			(15		)	—			(15		)
Cash provided by (used for) financing activities - continuing operations	137			(471		)	(704		)	240			(798		)
Cash used for financing activities - discontinued operations	—			—			—			—			—
Cash provided by (used for) financing activities	137			(471		)	(704		)	240			(798		)
Effect of exchange rates on cash and cash equivalents	—			—			(63		)	—			(63		)
Net increase (decrease) in cash and cash equivalents	(1		)	403			(121		)	(550		)	(269		)
Cash and cash equivalents at beginning of period	1			2,524			793			(2,562		)	756
Cash and cash equivalents at end of period	$	—		$	2,927		$	672		$	(3,112	)	$	487

Condensed Consolidating Statement of Cash Flows

	Six months ended June 30, 2017
(millions)	Aon plc			Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Cash flows from operating activities
Cash provided by (used for) operating activities - continuing operations	$	(118	)	$	999		$	1,056		$	(1,501	)	$	436
Cash provided by operating activities - discontinued operations	—			—			64			—			64
Cash provided by (used for) operating activities	(118		)	999			1,120			(1,501		)	500
Cash flows from investing activities
Proceeds from investments	—			567			6			(544		)	29
Payments for investments	(16		)	(15		)	(558		)	557			(32		)
Net sales (purchases) of short-term investments - non-fiduciary	—			(2,440		)	(11		)	—			(2,451		)
Acquisition of businesses, net of cash acquired	—			2			(151		)	—			(149		)
Sale of businesses, net of cash sold	—			—			4,193			—			4,193
Capital expenditures	—			—			(82		)	—			(82		)
Cash provided by (used for) investing activities - continuing operations	(16		)	(1,886		)	3,397			13			1,508
Cash used for investing activities - discontinued operations	—			—			(19		)	—			(19		)
Cash provided by (used for) investing activities	(16		)	(1,886		)	3,378			13			1,489
Cash flows from financing activities
Share repurchase	(1,100		)	—			—			—			(1,100		)
Advances from (to) affiliates	1,846			1,977			(4,381		)	558			—
Issuance of shares for employee benefit plans	(139		)	—			—			—			(139		)
Issuance of debt	544			1,102			5			—			1,651
Repayment of debt	(835		)	(1,150		)	(5		)	—			(1,990		)
Cash dividends to shareholders	(182		)	—			—			—			(182		)
Noncontrolling interests and other financing activities	—			—			(10		)	—			(10		)
Cash provided by (used for) financing activities - continuing operations	134			1,929			(4,391		)	558			(1,770		)
Cash used for financing activities - discontinued operations	—			—			—			—			—
Cash provided by (used for) financing activities	134			1,929			(4,391		)	558			(1,770		)
Effect of exchange rates on cash and cash equivalents	—			—			34			—			34
Net increase (decrease) in cash and cash equivalents	—			1,042			141			(930		)	253
Cash and cash equivalents at beginning of period	—			1,633			660			(1,862		)	431
Cash and cash equivalents at end of period	$	—		$	2,675		$	801		$	(2,792	)	$	684

(1) Includes $5 million of discontinued operations at December 31, 2016.