Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

Assets and liabilities measured at fair value on a recurring basis

The following fair value hierarchy table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2015 and 2014:

(In millions of dollars)	Identical Assets (Level 1)				Observable Inputs (Level 2)				Unobservable Inputs (Level 3)				Total
	12/31/15		12/31/14		12/31/15		12/31/14		12/31/15		12/31/14		12/31/15		12/31/14
Assets:
Financial instruments owned:
Mutual funds(a)	$	142	$	150	$	—	$	—	$	—	$	—	$	142	$	150
Money market funds(b)	140		107		—		—		—		—		140		107
Total assets measured at fair value	$	282	$	257	$	—	$	—	$	—	$	—	$	282	$	257
Fiduciary Assets:
Money market funds	$	48	$	57	$	—	$	—	$	—	$	—	$	48	$	57
Total fiduciary assets measured at fair value	$	48	$	57	$	—	$	—	$	—	$	—	$	48	$	57
Liabilities:
Contingent purchase consideration liability(c)	$	—	$	—	$	—	$	—	$	309	$	207	$	309	$	207
Total liabilities measured at fair value	$	—	$	—	$	—	$	—	$	309	$	207	$	309	$	207

(a) Included in other assets in the consolidated balance sheets.

(b) Included in cash and cash equivalents in the consolidated balance sheets.

(c) Included in accounts payable and accrued liabilities and other liabilities in the consolidated balance sheets.

Changes in fair value of level 3 liabilities representing acquisition related contingent consideration

The table below sets forth a summary of the changes in fair value of the Company’s Level 3 liabilities for the years ended December 31, 2015 and December 31, 2014 that represent contingent purchase consideration related to acquisitions:

(In millions of dollars)	2015			2014
Balance at January 1,	$	207		$	104
Additions	104			114
Payments	(47		)	(42		)
Revaluation Impact	45			31
Balance at December 31,	$	309		$	207

Equity method investments summarized financial information

Below is a summary of the financial information for the Company's significant equity method investees:

For the Twelve Months Ended September 30,
(In millions of dollars)	2015		2014		2013
Revenue	$	1,018	$	239	$	148
Net investment income (a)	$	1,620	$	161	$	88
Net income	$	196	$	216	$	135

As of September 30,
(In millions of dollars)	2015		2014
Total assets	$	21,101	$	25,497
Total liabilities	$	19,348	$	24,209
Non-controlling interests	$	12	$	14

The information above includes twelve months of income statement activity for Alexander Forbes in 2015 and two months of activity in 2014, reflecting the timing of the Company's investment.

(a) Net investment income in 2015 includes approximately $1.5 billion related to Alexander Forbes, substantially all of which is credited to policy holders.