Acquisitions and Dispositions (Tables)

9 Months Ended

Sep. 30, 2020

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 September 30, 2020
(In millions)
Cash	579
Estimated fair value of deferred/contingent consideration	163
Total consideration	$	742
Allocation of purchase price:
Cash and cash equivalents	20
Accounts receivable, net	27

Fixed assets, net	15
Other intangible assets	280
Goodwill	462



Other assets	11
Total assets acquired	815
Current liabilities	22






Other liabilities	51
Total liabilities assumed	73

Net assets acquired	$	742

Schedule of Acquired Finite-Lived Intangible Assets by Major Class

The following chart provides information about intangible assets acquired during 2020:


Intangible assets through September 30, 2020 (In millions)	Amount		Weighted Average Amortization Period
Client relationships	$	257	13.3 years
Other	23		4.5 years
	$	280

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 September 30,				Nine Months Ended September 30,
(In millions, except per share figures)	2020		2019		2020		2019
Revenue	$	3,968	$	4,016	$	12,859	$	12,979

Net income attributable to the Company	$	316	$	307	$	1,644	$	1,453

Basic net income per share attributable to the Company	$	0.62	$	0.61	$	3.25	$	2.87


Diluted net income per share attributable to the Company	$	0.62	$	0.60	$	3.22	$	2.84