Employee Benefits (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of Components of Net Periodic Benefit Cost for the Pension Plans

The following table provides the components of the net periodic (benefit) cost recognized in the Condensed Consolidated Statements of Income for Aon’s significant U.K., U.S., and other major pension plans, which are located in the Netherlands and Canada. Service cost is reported in Compensation and benefits and all other components are reported in Other income (expense) as follows (in millions):


	Three Months Ended September 30,
	U.K.				U.S.				Other
	2023		2022		2023		2022		2023		2022
Service cost	$	—	$	—	$	—	$	—	$	—	$	—
Interest cost	38		20		26		17		10		5
Expected return on plan assets, net of administration expenses	(49)		(32)		(29)		(27)		(12)		(8)
Amortization of prior-service cost	1		1		—		—		—		—
Amortization of net actuarial loss	19		7		8		17		3		3
Net periodic (benefit) cost	9		(4)		5		7		1		—
Loss on pension settlement	—		—		—		—		—		—
Total net periodic (benefit) cost	$	9	$	(4)	$	5	$	7	$	1	$	—


	Nine Months Ended September 30,
	U.K.				U.S.				Other
	2023		2022		2023		2022		2023		2022
Service cost	$	—	$	—	$	—	$	—	$	—	$	—
Interest cost	110		64		78		51		30		14
Expected return on plan assets, net of administration expenses	(143)		(102)		(89)		(81)		(36)		(25)
Amortization of prior-service cost	2		2		—		—		—		—
Amortization of net actuarial loss	56		22		25		50		10		10
Net periodic (benefit) cost	25		(14)		14		20		4		(1)
Loss on pension settlement	—		—		—		1		27		—
Total net periodic (benefit) cost	$	25	$	(14)	$	14	$	21	$	31	$	(1)

Schedule of Employer's Contributions

The following table summarizes contributions made to the Company’s significant pension plans (in millions):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Contributions to U.K. pension plans	$	1	$	1	$	3	$	6
Contributions to U.S. pension plans	6		7		27		32
Contributions to other major pension plans	2		2		10		12
Total contributions	$	9	$	10	$	40	$	50