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Acquisitions and Dispositions of Businesses
9 Months Ended
Sep. 30, 2020
Business Combinations [Abstract]  
Acquisitions and Dispositions of Businesses Acquisitions and Dispositions of Businesses
Completed Acquisitions
The Company completed six acquisitions during the nine months ended September 30, 2020 and three acquisitions during the nine months ended September 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):
Nine Months Ended September 30, 2020
Consideration transferred
Cash$385 
Deferred, contingent, and other consideration34 
Aggregate consideration transferred$419 
Assets acquired
Cash and cash equivalents$17 
Receivables21 
Goodwill315 
Intangible assets83 
Current assets16 
Non-current assets
Total assets acquired457 
Liabilities assumed
Current liabilities27 
Non-current liabilities11 
Total liabilities assumed38 
Net assets acquired$419 
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 September 30, 2020 and one disposition during the nine months ended September 30, 2020. The Company completed two dispositions during the three months ended September 30, 2019 and six dispositions during the nine months ended September 30, 2019.
Total pretax gains recognized for the three and nine months ended September 30, 2020 were $0 million and $25 million, respectively. Total pretax gains recognized for the three and nine months ended September 30, 2019 were $1 million and $8 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 Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operations for further information.