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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities      
Net income $ 2,628 $ 2,646 $ 1,308
Adjustments to reconcile net income to cash provided by operating activities:                 
Gain from sales of businesses (4) (54) (142)
Depreciation of fixed assets 167 151 179
Amortization and impairment of intangible assets 89 113 147
Share-based compensation expense 438 397 449
Deferred income taxes (373) (252) 11
Other, net 28 170 5
Change in assets and liabilities:      
Receivables, net (188) (96) (119)
Accounts payable and accrued liabilities 13 (22) 264
Accelerating Aon United Program liabilities 99 0 0
Current income taxes 174 216 200
Pension, other postretirement and postemployment liabilities 8 (53) (124)
Other assets and liabilities 356 3 4
Cash provided by operating activities 3,435 3,219 2,182
Cash flows from investing activities      
Proceeds from investments 76 110 58
Purchases for investments (67) (107) (91)
Net sales (purchases) of short-term investments - non fiduciary 85 (175) 15
Acquisition of businesses, net of cash and funds held on behalf of clients (35) (162) (14)
Sale of businesses, net of cash and funds held on behalf of clients 5 81 218
Capital expenditures (252) (196) (137)
Cash provided by (used for) investing activities (188) (449) 49
Cash flows from financing activities      
Share repurchase (2,700) (3,203) (3,543)
Proceeds from issuance of shares 72 58 55
Cash paid for employee taxes on withholding shares (241) (215) (185)
Commercial paper issuances, net of repayments (27) (65) 671
Issuance of debt 744 1,967 1,495
Repayment of debt (350) (500) (413)
Increase in fiduciary liabilities, net of fiduciary receivables 358 702 568
Cash dividends to shareholders (489) (463) (447)
Noncontrolling interests and other financing activities (232) (71) (125)
Cash used for financing activities (2,865) (1,790) (1,924)
Effect of exchange rates on cash and cash equivalents and funds held on behalf of clients 264 (549) (235)
Net increase in cash and cash equivalents and funds held on behalf of clients 646 431 72
Cash and cash equivalents and funds held on behalf of clients at beginning of year 7,076 6,645 6,573
Cash and cash equivalents and funds held on behalf of clients at end of year 7,722 7,076 6,645
Reconciliation of cash and cash equivalents and funds held on behalf of clients:      
Cash and cash equivalents 778 690 544
Cash and cash equivalents and funds held on behalf of clients classified as held for sale 43 0 0
Funds held on behalf of clients 6,901 6,386 6,101
Total cash and cash equivalents and funds held on behalf of clients 7,722 7,076 6,645
Supplemental disclosures:      
Interest paid 446 351 328
Income taxes paid, net of refunds $ 740 $ 546 $ 412