XML 27 R15.htm IDEA: XBRL DOCUMENT v3.20.2
Acquisitions and Dispositions of Businesses
6 Months Ended
Jun. 30, 2020
Business Combinations [Abstract]  
Acquisitions and Dispositions of Businesses Acquisitions and Dispositions of Businesses
Completed Acquisitions
The Company completed six acquisitions during the six months ended June 30, 2020 and one acquisition during the six months ended June 30, 2019. The following table includes the preliminary 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, 2020
Consideration transferred
Cash$385  
Deferred, contingent, and other consideration33  
Aggregate consideration transferred$418  
Assets acquired
Cash and cash equivalents$17  
Receivables21  
Goodwill315  
Intangible assets83  
Current assets15  
Non-current assets 
Total assets acquired456  
Liabilities assumed
Current liabilities27  
Non-current liabilities11  
Total liabilities assumed38  
Net assets acquired$418  
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.
2020 Acquisitions
On April 6, 2020, the Company completed the acquisition of 100% share capital of Farmington Administrative Services LLC, a U.S.-based national provider of enrollment solutions and voluntary benefits, and certain assets of other Farmington companies.
On January 31, 2020, the Company completed the acquisition of 100% share capital of Cytelligence Inc., a Canadian-based cyber security firm that provides incident response advisory, digital forensic expertise, security consulting services, and cyber security training for employees to help organizations respond to cyber security threats and strengthen their security position.
On January 3, 2020, the Company completed the acquisition of 100% share capital of CoverWallet, Inc., a U.S.-based digital insurance platform for small- and medium-sized businesses.
On January 1, 2020, the Company completed the acquisition of 100% share capital of TRIUM GmbH Insurance Broker, an insurance broker based in Germany.
On January 1, 2020, the Company completed the acquisition of 100% share capital of Assimedia SA, an insurance broker based in Switzerland.
On January 1, 2020, the Company completed the acquisition of 100% share capital of Apollo Conseil et Courtage, an insurance broker based in France.
2019 Acquisitions
On July 31, 2019, the Company completed the acquisition of 100% share capital of Ovatio Courtage SAS, an insurance broker based in France.
On July 31, 2019, the Company completed the acquisition of 100% share capital of Zalba-Caldu Correduria de Seguros, S.A., a Spanish insurance broker.
On January 1, 2019, the Company completed the acquisition of 100% share capital of Chapka Assurances SAS, based in France.
Completed Dispositions
The Company completed no dispositions during the three months ended June 30, 2020 and one disposition during the six months ended June 30, 2020. The Company completed three dispositions during the three months ended June 30, 2019 and four dispositions during the six months ended June 30, 2019.
Total pretax gains recognized for the three and six months ended June 30, 2020 were $0 million and $25 million, respectively. Total pretax gains recognized for the three and six months ended June 30, 2019 were $2 million and $7 million, respectively. Gains and losses recognized as a result of a disposition are included in Other income (expense) in the Condensed Consolidated Statements of Income.
Other Significant Activity
On March 9, 2020, Aon and Willis Towers Watson Public Limited Company, an Irish public limited company (“WTW”), entered into a business combination agreement (the “Business Combination Agreement”) with respect to a combination of the parties (the “Combination”). Refer to “Business Combination Agreement” within Management’s Discussion and Analysis of Financial Condition and Results of Operations for further information.