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Accumulated Other Comprehensive Loss (Tables)
 12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Comprehensive Income (Loss)

The components of other comprehensive (loss)/income are as follows:

 

 

December 31, 2021

 

 

December 31, 2020

 

 

December 31, 2019

 

 

 

Before
tax
amount

 

 

Tax

 

 

Net of
tax
amount

 

 

Before
tax
amount

 

 

Tax

 

 

Net of
tax
amount

 

 

Before
tax
amount

 

 

Tax

 

 

Net of
tax
amount

 

Other comprehensive (loss)/income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation

 

$

(87

)

 

$

—

 

 

$

(87

)

 

$

139

 

 

$

—

 

 

$

139

 

 

$

78

 

 

$

—

 

 

$

78

 

Defined pension and post-retirement benefits

 

 

343

 

 

 

(83

)

 

 

260

 

 

 

(342

)

 

 

76

 

 

 

(266

)

 

 

(412

)

 

 

83

 

 

 

(329

)

Derivative instruments

 

 

(1

)

 

 

3

 

 

 

2

 

 

 

(5

)

 

 

1

 

 

 

(4

)

 

 

23

 

 

 

(2

)

 

 

21

 

Other comprehensive income/(loss)

 

 

255

 

 

 

(80

)

 

 

175

 

 

 

(208

)

 

 

77

 

 

 

(131

)

 

 

(311

)

 

 

81

 

 

 

(230

)

Less: Other comprehensive income
    attributable to non-controlling interests

 

 

(2

)

 

 

—

 

 

 

(2

)

 

 

(1

)

 

 

—

 

 

 

(1

)

 

 

—

 

 

 

—

 

 

 

—

 

Other comprehensive income/(loss) attributable
   to WTW

 

$

253

 

 

$

(80

)

 

$

173

 

 

$

(209

)

 

$

77

 

 

$

(132

)

 

$

(311

)

 

$

81

 

 

$

(230

)
Schedule of Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive loss, net of non-controlling interests and net of tax are provided in the following table. This table excludes amounts attributable to non-controlling interests, which are not material for further disclosure.

 

 

Foreign currency
translation (i)

 

 

Derivative
instruments (i)

 

 

Defined pension
and post-
retirement
benefit costs (ii)

 

 

Total

 

Balance, January 1, 2019

 

$

(616

)

 

$

(8

)

 

$

(1,337

)

 

$

(1,961

)

Other comprehensive income/(loss) before reclassifications

 

 

78

 

 

 

12

 

 

 

(343

)

 

 

(253

)

Loss reclassified from accumulated other comprehensive
   loss (net of income tax benefit of $9)

 

 

—

 

 

 

9

 

 

 

14

 

 

 

23

 

Net other comprehensive income/(loss)

 

 

78

 

 

 

21

 

 

 

(329

)

 

 

(230

)

Reclassification of tax effects per ASU 2018-02 (iii)

 

 

—

 

 

 

—

 

 

 

(36

)

 

 

(36

)

Balance, December 31, 2019

 

$

(538

)

 

$

13

 

 

$

(1,702

)

 

$

(2,227

)

Other comprehensive income/(loss) before reclassifications

 

 

138

 

 

 

(12

)

 

 

(298

)

 

 

(172

)

Loss reclassified from accumulated other comprehensive
   loss (net of income tax benefit of $11)

 

 

—

 

 

 

8

 

 

 

32

 

 

 

40

 

Net other comprehensive income/(loss)

 

 

138

 

 

 

(4

)

 

 

(266

)

 

 

(132

)

Balance, December 31, 2020

 

$

(400

)

 

$

9

 

 

$

(1,968

)

 

$

(2,359

)

Other comprehensive (loss)/income before reclassifications

 

 

(133

)

 

 

9

 

 

 

191

 

 

 

67

 

Loss/(gain) reclassified from accumulated other
   comprehensive loss (net of income tax benefit of $12) (iv)

 

 

44

 

 

 

(7

)

 

 

69

 

 

 

106

 

Net other comprehensive (loss)/income

 

 

(89

)

 

 

2

 

 

 

260

 

 

 

173

 

Balance, December 31, 2021

 

$

(489

)

 

$

11

 

 

$

(1,708

)

 

$

(2,186

)

 

(i)
Reclassification adjustments from accumulated other comprehensive loss related to derivative instruments are included in Revenue and Salaries and benefits in the accompanying consolidated statements of comprehensive income. See Note 10 — Derivative Financial Instruments for additional details regarding the reclassification adjustments for the derivative settlements.
(ii)
Reclassification adjustments from accumulated other comprehensive loss are included in the computation of net periodic pension cost (see Note 13 — Retirement Benefits). These components are included in Other income, net in the accompanying consolidated statements of comprehensive income.
(iii)
On January 1, 2019, in accordance with ASU 2018-02, we reclassified to Retained earnings $36 million of defined pension and postretirement costs, representing the ‘stranded’ tax effect of the change in the U.S. federal corporate tax rate resulting from U.S. Tax Reform.
(iv)
Includes reclassifications of $44 million and $31 million of foreign currency translation and defined pension and post-retirement benefit costs, respectively, attributable to the gain on disposal of our Miller business (see Note 3 — Acquisitions and Divestitures). The net gain on disposal is included in Other income, net in the accompanying consolidated statements of comprehensive income.