Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2018

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, 2018 and 2017:

(In millions of dollars)	Identical Assets (Level 1)				Observable Inputs (Level 2)				Unobservable Inputs (Level 3)				Total
	12/31/18		12/31/17		12/31/18		12/31/17		12/31/18		12/31/17		12/31/18		12/31/17
Assets:
Financial instruments owned:
Exchange traded equity securities (a)	$	133	$	81	$	—	$	—	$	—	$	—	$	133	$	81
Mutual funds(a)	151		158		—		—		—		—		151		158
Money market funds(b)	118		143		—		—		—		—		118		143
Other equity investment(a)	—		—		8		—		—		—		8		—
Total assets measured at fair value	$	402	$	382	$	8	$	—	$	—	$	—	$	410	$	382
Fiduciary Assets:
Money market funds	$	80	$	111	$	—	$	—	$	—	$	—	$	80	$	111
U.S. Treasury Bills	20		—		—		—		—		—		20		—
Total fiduciary assets measured at fair value	$	100	$	111	$	—	$	—	$	—	$	—	$	100	$	111
Liabilities:
Contingent purchase consideration liability(c)	$	—	$	—	$	—	$	—	$	183	$	189	$	183	$	189
Acquisition related derivative contracts	—		—		116		—		325		—		441		—
Total liabilities measured at fair value	$	—	$	—	$	116	$	—	$	508	$	189	$	624	$	189

(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, 2018 and December 31, 2017.

(In millions)	2018			2017
Balance at January 1,	$	189		$	241
Additions	54			51
Payments	(91		)	(108		)
Revaluation Impact	32			3
Change in fair value of acquisition related derivative contracts	325			—
Other (a)	(1		)	2
Balance at December 31,	$	508		$	189

Equity method investments summarized financial information

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

For the Twelve Months Ended September 30,
(In millions of dollars)	2018		2017		2016
Revenue	$	733	$	628	$	843
Net investment income (a)	$	1,699	$	1,834	$	1,824
Net income	$	554	$	476	$	91

As of September 30,
(In millions of dollars)	2018		2017
Total assets	$	24,644	$	24,739
Total liabilities	$	22,257	$	22,817
Non-controlling interests	$	22	$	19

(a) Net investment income in 2018, 2017 and 2016 includes approximately $1.2 billion, $1.5 billion and $1.9 billion, respectively, related to Alexander Forbes, substantially all of which is credited to policy holders.