Acquisitions and Dispositions (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Allocation of acquisition costs

The following table presents the preliminary allocation of purchase consideration to the assets acquired and liabilities assumed during 2019 based on the estimated fair values for JLT and other acquisitions as of their respective acquisition dates:

Acquisitions for the Year-Ended December 31, 2019						Total Acquisitions
(In millions)	JLT			Other
Cash	$	5,568		$	293	$	5,861
Estimated fair value of deferred/contingent consideration	—			66		66
Total consideration	$	5,568		$	359	$	5,927
Allocation of purchase price:
Cash and cash equivalents	$	349		$	7	$	356
Accounts receivable, net	695			6		701
Other current assets	132			—		132
Fixed assets, net	89			1		90
Other intangible assets	1,545			134		1,679
Goodwill	4,912			212		5,124
Right of use assets	382			—		382
Deferred tax assets	66			—		66
Other assets	473			8		481
Total assets acquired	8,643			368		9,011
Current liabilities	708			9		717
Fiduciary liabilities	1,275			—		1,275
Less - fiduciary assets	(1,275		)	—		(1,275		)
Long-term debt	1,044			—		1,044
Long-term lease liability	389			—		389
Pension, post-retirement and post-employment liabilities	248			—		248
Liabilities for errors and omissions	31			—		31
Other liabilities	375			—		375
Total liabilities assumed	2,795			9		2,804
Non-controlling interests	280			—		280
Net assets acquired	$	5,568		$	359	$	5,927

Acquired finite-lived intangible assets

The following chart provides information about intangible assets acquired during 2019:

Intangible assets through December 31, 2019 (In millions)	JLT		Other		Total		JLT Weighted Average Amortization Period	Other Weighted Average Amortization Period
Customer relationships	$	1,435	$	126	$	1,561	13 years	12 years
Other	110		8		118		4 years	4 years
	$	1,545	$	134	$	1,679

Pro-forma information

The unaudited pro-forma financial data is presented for illustrative purposes only and is not necessarily indicative of the operating results that would have been achieved if such acquisitions had occurred on the dates indicated, nor is it necessarily indicative of future consolidated results.

	Years Ended December 31,
(In millions, except per share data)	2019		2018		2017
Revenue	$	17,095	$	17,106	$	14,400
Net income attributable to the Company	$	1,866	$	1,302	$	1,498
Basic net income per share attributable to the Company	$	3.69	$	2.58	$	2.92
Diluted net income per share attributable to the Company	$	3.65	$	2.55	$	2.89