Guarantee of Registered Securities (Tables)

6 Months Ended

Jun. 30, 2019

Guarantee of Registered Securities [Abstract]

Condensed Consolidating Statements of Income

Condensed Consolidating Statement of Income

	Three Months Ended June 30, 2019
(millions)	Aon plc			Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Revenue
Total revenue	$	—		$	—		$	2,606		$	—		$	2,606
Expenses
Compensation and benefits	22			4			1,475			—			1,501
Information technology	—			—			126			—			126
Premises	—			9			76			—			85
Depreciation of fixed assets	—			—			40			—			40
Amortization and impairment of intangible assets	—			—			97			—			97
Other general expenses	3			6			335			—			344
Total operating expenses	25			19			2,149			—			2,193
Operating income (loss)	(25		)	(19		)	457			—			413
Interest income	—			9			—			(8		)	1
Interest expense	(45		)	(34		)	(6		)	8			(77		)
Intercompany interest income (expense)	3			(116		)	113			—			—
Intercompany other income (expense)	137			(164		)	27			—			—
Other income (expense)	(11		)	(14		)	24			7			6
Income (loss) from continuing operations before income taxes	59			(338		)	615			7			343
Income tax expense (benefit)	—			(64		)	120			—			56
Net income (loss) from continuing operations	59			(274		)	495			7			287
Net income from discontinued operations	—			—			—			—			—
Net income (loss) before equity in earnings of subsidiaries	59			(274		)	495			7			287
Equity in earnings of subsidiaries	211			301			27			(539		)	—
Net income	270			27			522			(532		)	287
Less: Net income attributable to noncontrolling interests	—			—			10			—			10
Net income attributable to Aon shareholders	$	270		$	27		$	512		$	(532	)	$	277

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			91			442			—			535
Total operating expenses	17			92			2,468			—			2,577
Operating income (loss)	(17		)	(92		)	93			—			(16		)
Interest income	—			15			—			(14		)	1
Interest expense	(48		)	(25		)	(10		)	14			(69		)
Intercompany interest income (expense)	3			(129		)	126			—			—
Intercompany other income (expense)	(93		)	10			83			—			—
Other income (expense)	48			(20		)	(13		)	(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	170			207			16			(393		)	—
Net income	66			16			387			(411		)	58
Less: Net income attributable to noncontrolling interests	—			—			10			—			10
Net income attributable to Aon shareholders	$	66		$	16		$	377		$	(411	)	$	48

Condensed Consolidating Statement of Income

	Six Months Ended June 30, 2019
(millions)	Aon plc			Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Revenue
Total revenue	$	—		$	—		$	5,749		$	—		$	5,749
Expenses
Compensation and benefits	42			12			3,031			—			3,085
Information technology	—			—			243			—			243
Premises	—			13			159			—			172
Depreciation of fixed assets	—			—			80			—			80
Amortization and impairment of intangible assets	—			—			194			—			194
Other general expenses	3			2			685			—			690
Total operating expenses	45			27			4,392			—			4,464
Operating income (loss)	(45		)	(27		)	1,357			—			1,285
Interest income	—			18			—			(15		)	3
Interest expense	(91		)	(62		)	(11		)	15			(149		)
Intercompany interest income (expense)	7			(232		)	225			—			—
Intercompany other income (expense)	168			(263		)	95			—			—
Other income (expense)	(6		)	(25		)	32			5			6
Income (loss) from continuing operations before income taxes	33			(591		)	1,698			5			1,145
Income tax expense (benefit)	(5		)	(106		)	293			—			182
Net income (loss) from continuing operations	38			(485		)	1,405			5			963
Net income from discontinued operations	—			—			—			—			—
Net income (loss) before equity in earnings of subsidiaries	38			(485		)	1,405			5			963
Equity in earnings of subsidiaries	893			1,025			540			(2,458		)	—
Net income	931			540			1,945			(2,453		)	963
Less: Net income attributable to noncontrolling interests	—			—			27			—			27
Net income attributable to Aon shareholders	$	931		$	540		$	1,918		$	(2,453	)	$	936

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			91			759			—			853
Total operating expenses	37			93			4,738			—			4,868
Operating income (loss)	(37		)	(93		)	913			—			783
Interest income	—			29			—			(24		)	5
Interest expense	(97		)	(49		)	(17		)	24			(139		)
Intercompany interest income (expense)	7			(257		)	250			—			—
Intercompany other income (expense)	(146		)	5			141			—			—
Other income (expense)	23			(26		)	—			(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	888			912			598			(2,398		)	—
Net income	657			598			1,826			(2,413		)	668
Less: Net income attributable to noncontrolling interests	—			—			26			—			26
Net income attributable to Aon shareholders	$	657		$	598		$	1,800		$	(2,413	)	$	642

Condensed Consolidating Statements of Comprehensive Income

Condensed Consolidating Statement of Comprehensive Income

	Three Months Ended June 30, 2019
(millions)	Aon plc			Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Net income	$	270		$	27		$	522		$	(532	)	$	287
Less: Net income attributable to noncontrolling interests	—			—			10			—			10
Net income attributable to Aon shareholders	270			27			512			(532		)	277
Other comprehensive income (loss), net of tax:
Change in fair value of financial instruments	—			—			(8		)	—			(8		)
Foreign currency translation adjustments	—			—			(96		)	(7		)	(103		)
Postretirement benefit obligation	—			10			4			—			14
Total other comprehensive income (loss)	—			10			(100		)	(7		)	(97		)
Equity in other comprehensive income (loss) of subsidiaries, net of tax	(90		)	(118		)	(108		)	316			—
Less: Other comprehensive income (loss) attributable to noncontrolling interests	—			—			—			—			—
Total other comprehensive income (loss) attributable to Aon shareholders	(90		)	(108		)	(208		)	309			(97		)
Comprehensive income attributable (loss) to Aon shareholders	$	180		$	(81	)	$	304		$	(223	)	$	180

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		$	16		$	387		$	(411	)	$	58
Less: Net income attributable to noncontrolling interests	—			—			10			—			10
Net income attributable to Aon shareholders	66			16			377			(411		)	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 income (loss) attributable to noncontrolling interests	—			—			(6		)	—			(6		)
Total other comprehensive income (loss) attributable to Aon shareholders	(351		)	(338		)	(696		)	1,052			(333		)
Comprehensive income attributable (loss) to Aon shareholders	$	(285	)	$	(322	)	$	(319	)	$	641		$	(285	)

Condensed Consolidating Statement of Comprehensive Income

	Six Months Ended June 30, 2019
(millions)	Aon plc		Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Net income	$	931	$	540		$	1,945		$	(2,453	)	$	963
Less: Net income attributable to noncontrolling interests	—		—			27			—			27
Net income attributable to Aon shareholders	931		540			1,918			(2,453		)	936
Other comprehensive income (loss), net of tax:
Change in fair value of financial instruments	—		2			(3		)	—			(1		)
Foreign currency translation adjustments	—		—			35			(5		)	30
Postretirement benefit obligation	—		32			13			—			45
Total other comprehensive income (loss)	—		34			45			(5		)	74
Equity in other comprehensive income (loss) of subsidiaries, net of tax	77		(3		)	31			(105		)	—
Less: Other comprehensive income (loss) attributable to noncontrolling interests	—		—			2			—			2
Total other comprehensive income (loss) attributable to Aon shareholders	77		31			74			(110		)	72
Comprehensive income attributable (loss) to Aon shareholders	$	1,008	$	571		$	1,992		$	(2,563	)	$	1,008

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		$	598		$	1,826		$	(2,413	)	$	668
Less: Net income attributable to noncontrolling interests	—			—			26			—			26
Net income attributable to Aon shareholders	657			598			1,800			(2,413		)	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 income (loss) attributable to noncontrolling interests	—			—			(3		)	—			(3		)
Total other comprehensive income (loss) attributable to Aon shareholders	(42		)	(39		)	(102		)	156			(27		)
Comprehensive income attributable (loss) to Aon shareholders	$	615		$	559		$	1,698		$	(2,257	)	$	615

Condensed Consolidating Statements of Financial Position

Condensed Consolidating Statement of Financial Position

	As of June 30, 2019
(millions)	Aon plc		Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Assets
Current assets
Cash and cash equivalents	$	—	$	1,371		$	537		$	(1,327	)	$	581
Short-term investments	—		125			110			—			235
Receivables, net	—		—			3,227			—			3,227
Fiduciary assets	—		—			12,071			—			12,071
Current intercompany receivables	167		3,421			12,843			(16,431		)	—
Other current assets	—		10			621			—			631
Total current assets	167		4,927			29,409			(17,758		)	16,745
Goodwill	—		—			8,198			—			8,198
Intangible assets, net	—		—			973			—			973
Fixed assets, net	—		—			599			—			599
Operating lease right-of-use assets	—		112			847			—			959
Deferred tax assets	93		498			150			(142		)	599
Prepaid pension	—		5			1,208			—			1,213
Non-current intercompany receivables	404		261			7,200			(7,865		)	—
Other non-current assets	1		28			492			—			521
Investment in subsidiary	8,937		20,147			(424		)	(28,660		)	—
Total assets	$	9,602	$	25,978		$	48,652		$	(54,425	)	$	29,807
Liabilities and equity
Liabilities
Current liabilities
Accounts payable and accrued liabilities	$	582	$	57		$	2,057		$	(1,327	)	$	1,369
Short-term debt and current portion of long-term debt	569		275			—			—			844
Fiduciary liabilities	—		—			12,071			—			12,071
Current intercompany payables	378		14,633			1,420			(16,431		)	—
Other current liabilities	—		78			1,119			—			1,197
Total current liabilities	1,529		15,043			16,667			(17,758		)	15,481
Long-term debt	4,234		2,506			—			—			6,740
Non-current operating lease liabilities	—		149			813			—			962
Deferred tax liabilities	—		—			353			(142		)	211
Pension, other postretirement, and postemployment liabilities	—		1,232			344			—			1,576
Non-current intercompany payables	—		7,366			499			(7,865		)	—
Other non-current liabilities	3		106			815			—			924
Total liabilities	5,766		26,402			19,491			(25,765		)	25,894
Equity
Total Aon shareholders’ equity	3,836		(424		)	29,084			(28,660		)	3,836
Noncontrolling interests	—		—			77			—			77
Total equity	3,836		(424		)	29,161			(28,660		)	3,913
Total liabilities and equity	$	9,602	$	25,978		$	48,652		$	(54,425	)	$	29,807

Condensed Consolidating Statement of Financial Position

	As of December 31, 2018
(millions)	Aon plc		Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Assets
Current assets
Cash and cash equivalents	$	—	$	862		$	575		$	(781	)	$	656
Short-term investments	—		56			116			—			172
Receivables, net	—		—			2,760			—			2,760
Fiduciary assets	—		—			10,166			—			10,166
Current intercompany receivables	191		897			11,634			(12,722		)	—
Other current assets	—		16			602			—			618
Total current assets	191		1,831			25,853			(13,503		)	14,372
Goodwill	—		—			8,171			—			8,171
Intangible assets, net	—		—			1,149			—			1,149
Fixed assets, net	—		—			588			—			588
Operating lease right-of-use assets	—		—			—			—			—
Deferred tax assets	94		467			144			(144		)	561
Prepaid pension	—		5			1,128			—			1,133
Non-current intercompany receivables	403		261			7,225			(7,889		)	—
Other non-current assets	1		30			417			—			448
Investment in subsidiary	8,433		19,132			(882		)	(26,683		)	—
Total assets	$	9,122	$	21,726		$	43,793		$	(48,219	)	$	26,422
Liabilities and equity
Liabilities
Current liabilities
Accounts payable and accrued liabilities	$	274	$	70		$	2,380		$	(781	)	$	1,943
Short-term debt and current portion of long-term debt	250		—			1			—			251
Fiduciary liabilities	—		—			10,166			—			10,166
Current intercompany payables	213		11,875			634			(12,722		)	—
Other current liabilities	—		69			867			—			936
Total current liabilities	737		12,014			14,048			(13,503		)	13,296
Long-term debt	4,231		1,762			—			—			5,993
Non-current operating lease liabilities	—		—			—			—			—
Deferred tax liabilities	—		—			325			(144		)	181
Pension, other postretirement, and postemployment liabilities	—		1,275			361			—			1,636
Non-current intercompany payables	—		7,390			499			(7,889		)	—
Other non-current liabilities	3		167			927			—			1,097
Total liabilities	4,971		22,608			16,160			(21,536		)	22,203
Equity
Total Aon shareholders’ equity	4,151		(882		)	27,565			(26,683		)	4,151
Noncontrolling interests	—		—			68			—			68
Total equity	4,151		(882		)	27,633			(26,683		)	4,219
Total liabilities and equity	$	9,122	$	21,726		$	43,793		$	(48,219	)	$	26,422

Condensed Consolidating Statements of Cash Flows

Condensed Consolidating Statement of Cash Flows

	Six Months Ended June 30, 2019
(millions)	Aon plc			Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Cash flows from operating activities
Cash provided by (used for) operating activities	$	366		$	(110	)	$	690		$	(585	)	$	361
Cash flows from investing activities
Proceeds from investments	—			9			5			—			14
Payments for investments	—			(19		)	(41		)	—			(60		)
Net sales (purchases) of short-term investments - non-fiduciary	—			(69		)	7			—			(62		)
Acquisition of businesses, net of cash acquired	—			—			(15		)	—			(15		)
Sale of businesses, net of cash sold	—			—			7			—			7
Capital expenditures	—			—			(106		)	—			(106		)
Cash provided by (used for) investing activities	—			(79		)	(143		)	—			(222		)
Cash flows from financing activities
Share repurchase	(1,155		)	—			—			—			(1,155		)
Advances from (to) affiliates	823			(320		)	(542		)	39			—
Issuance of shares for employee benefit plans	(144		)	—			—			—			(144		)
Issuance of debt	1,219			2,340			—			—			3,559
Repayment of debt	(906		)	(1,322		)	—			—			(2,228		)
Cash dividends to shareholders	(203		)	—			—			—			(203		)
Noncontrolling interests and other financing activities	—			—			(61		)	—			(61		)
Cash provided by (used for) financing activities	(366		)	698			(603		)	39			(232		)
Effect of exchange rate changes on cash and cash equivalents	—			—			18			—			18
Net increase (decrease) in cash and cash equivalents	—			509			(38		)	(546		)	(75		)
Cash and cash equivalents at beginning of period	—			862			575			(781		)	656
Cash and cash equivalents at end of period	$	—		$	1,371		$	537		$	(1,327	)	$	581

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	$	(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	(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	137			(471		)	(704		)	240			(798		)
Effect of exchange rate changes 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