The Company completed one acquisition during the six months ended June 30, 2019 and five acquisitions during the six months ended June 30, 2018. The following table includes the fair values of consideration transferred, assets acquired, and liabilities assumed as a result of the Company’s acquisitions (in millions):



	Six Months Ended June 30, 2019
Consideration Transferred	$	17
Deferred and contingent consideration	5
Aggregate consideration transferred	$	22

Assets acquired
Cash and cash equivalents	$	2
Goodwill	15
Intangible assets, net	9
Other assets	4
Total assets acquired	30
Liabilities assumed
Current liabilities	6
Other non-current liabilities	2
Total liabilities assumed	8
Net assets acquired	$	22

The results of operations of these acquisitions are included in the Financial Statements as of the respective acquisition dates. The Company’s results of operations would not have been materially different if these acquisitions had been reported from the beginning of the period in which they were acquired.

On January 1, 2019, the Company completed the transaction to acquire Chapka Assurances SAS based in France.

On May 9, 2018, the Company completed the transaction to acquire certain assets of 601West, a division of Lee & Hayes, P.L.L.C. based in the United States.

On April 24, 2018, the Company completed the transaction to acquire Inspiring Benefits, S.L., a Spain-based firm specialized in employee loyalty, wellbeing, and rewards programs.

On March 1, 2018, the Company completed the transaction to acquire the business and assets of the trade credit business of Niche International Business Proprietary Limited, a trade credit brokerage based in Johannesburg, South Africa.

On March 1, 2018, the Company completed the transaction to acquire Affinity Risk Partners (Brokers) Pty. Ltd., an insurance broker in Victoria, Australia.

On January 19, 2018, the Company completed the transaction to acquire substantially all of the assets of The Burchfield Group, a provider in pharmacy benefit consulting, auditing, and health plan compliance services based in the United States.

The Company completed three dispositions during the three months ended June 30, 2019 and four dispositions during the six months ended June 30, 2019. The Company completed one disposition during the three and six months ended June 30, 2018.

Total pretax gains recognized for the three and six months ended June 30, 2019 were $2 million and $7 million, respectively. There were no pretax gains or losses for the three months ended June 30, 2018 and total pretax losses, net of gains, were $1 million for

the six months ended June 30, 2018. Gains and losses recognized as a result of a disposition are included in Other income (expense) in the Condensed Consolidated Statements of Income.