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Acquisitions and Dispositions (Tables)
3 Months Ended
Mar. 31, 2020
Business Combinations [Abstract]  
Schedule For Allocation of Acquisition Costs
The following table presents the preliminary allocation of purchase consideration to the assets acquired and liabilities assumed during 2020 based on the estimated fair values for the acquisitions as of their respective acquisition dates:
Acquisitions through March 31, 2020
 
(In millions)
 
Cash
201

Estimated fair value of deferred/contingent consideration
44

Total consideration
$
245

Allocation of purchase price:
 
Cash and cash equivalents
1

Accounts receivable, net
9

Fixed assets, net
3

Other intangible assets
91

Goodwill
142

Other assets
4

Total assets acquired
250

Current liabilities
5

Total liabilities assumed
5

Net assets acquired
$
245


Schedule of Acquired Finite-Lived Intangible Assets by Major Class
The following chart provides information about intangible assets acquired during 2020:
Intangible assets through March 31, 2020
(In millions)
 
Amount
 
Weighted Average Amortization Period
Client relationships
 
$
86

 
13 years
Other
 
5

 
4 years
 
 
$
91

 
 

Pro-Forma Information
The following unaudited pro-forma financial data gives effect to the acquisitions made by the Company during 2020 and 2019. In accordance with accounting guidance related to pro-forma disclosures, the information presented for current year acquisitions is as if they occurred on January 1, 2019 and reflects acquisitions made in 2019 as if they occurred on January 1, 2018. The unaudited pro-forma information adjusts for the effects of amortization of acquired intangibles and additional interest expense related to the issuance of debt related to the JLT Transaction. 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.
 
Three Months Ended
March 31,
(In millions, except per share figures)
2020

 
2019

Revenue
$
4,657

 
$
4,536

Net income attributable to the Company
$
754

 
$
684

Basic net income per share attributable to the Company
$
1.49

 
$
1.35

Diluted net income per share attributable to the Company
$
1.48

 
$
1.34