Revenue (Tables)

6 Months Ended

Jun. 30, 2020

Revenue From Contract With Customer [Abstract]

The following tables present revenue by service offering and segment, as well as reconciliations to total revenue for the three and six months ended June 30, 2020 and 2019. Along with reimbursable expenses and other, total revenue by service offering represents our revenue from customer contracts.

	Three Months Ended June 30,
	HCB				CRB				IRR				BDA				Corporate ⁽ⁱ⁾				Total
	2020		2019		2020		2019		2020		2019		2020		2019		2020		2019		2020		2019
Broking	$	71	$	64	$	637	$	633	$	258	$	249	$	90	$	9	$	—	$	—	$	1,056	$	955
Consulting		531		571		40		36		95		100		—		—		2		3		668		710
Outsourced administration		122		101		16		13		3		3		119		117		—		—		260		234
Other		41		56		1		1		55		52		—		—		1		1		98		110
Total revenue by service offering		765		792		694		683		411		404		209		126		3		4		2,082		2,009
Reimbursable expenses and other ⁽ⁱ⁾		11		15		1		—		1		2		2		2		4		2		19		21
Total revenue from customer contracts	$	776	$	807	$	695	$	683	$	412	$	406	$	211	$	128	$	7	$	6	$	2,101	$	2,030
Interest and other income ⁽ⁱⁱ⁾		2		5		7		7		2		5		—		—		1		1		12		18
Total revenue	$	778	$	812	$	702	$	690	$	414	$	411	$	211	$	128	$	8	$	7	$	2,113	$	2,048

	Six Months Ended June 30,
	HCB				CRB				IRR				BDA				Corporate ⁽ⁱ⁾				Total
	2020		2019		2020		2019		2020		2019		2020		2019		2020		2019		2020		2019
Broking	$	154	$	137	$	1,285	$	1,293	$	691	$	654	$	188	$	12	$	—	$	—	$	2,318	$	2,096
Consulting		1,113		1,151		87		67		188		214		—		—		4		6		1,392		1,438
Outsourced administration		250		224		41		40		6		5		252		249		—		—		549		518
Other		88		103		2		2		138		110		—		—		2		2		230		217
Total revenue by service offering		1,605		1,615		1,415		1,402		1,023		983		440		261		6		8		4,489		4,269
Reimbursable expenses and other ⁽ⁱ⁾		26		29		1		—		4		4		5		5		10		9		46		47
Total revenue from customer contracts	$	1,631	$	1,644	$	1,416	$	1,402	$	1,027	$	987	$	445	$	266	$	16	$	17	$	4,535	$	4,316
Interest and other income ⁽ⁱⁱ⁾		12		11		25		16		5		15		—		—		2		2		44		44
Total revenue	$	1,643	$	1,655	$	1,441	$	1,418	$	1,032	$	1,002	$	445	$	266	$	18	$	19	$	4,579	$	4,360

______________

(i)	Reimbursable expenses and other, as well as Corporate revenue, are excluded from segment revenue, but included in total revenue on the condensed consolidated statements of comprehensive income.

(ii)	Interest and other income is included in segment revenue and total revenue, however it has been presented separately in the above tables because it does not arise directly from contracts with customers.

Individual revenue streams aggregating to approximately 5% of total revenue from customer contracts for the three and six months ended June 30, 2020 and 2019 have been included within the Other line in the tables above.

The following tables present revenue by the geography where our work is performed for the three and six months ended June 30, 2020 and 2019. Reconciliations to total revenue on our condensed consolidated statements of comprehensive income and to segment revenue are shown in the tables above.

	Three Months Ended June 30,
	HCB				CRB				IRR				BDA				Corporate				Total
	2020		2019		2020		2019		2020		2019		2020		2019		2020		2019		2020		2019
North America	$	462	$	478	$	296	$	274	$	117	$	117	$	207	$	126	$	2	$	4	$	1,084	$	999
Great Britain		117		120		160		172		207		196		—		—		—		—		484		488
Western Europe		119		124		127		128		49		51		—		—		1		—		296		303
International		67		70		111		109		38		40		2		—		—		—		218		219
Total revenue by geography	$	765	$	792	$	694	$	683	$	411	$	404	$	209	$	126	$	3	$	4	$	2,082	$	2,009

	Six Months Ended June 30,
	HCB				CRB				IRR				BDA				Corporate				Total
	2020		2019		2020		2019		2020		2019		2020		2019		2020		2019		2020		2019
North America	$	938	$	949	$	529	$	494	$	287	$	281	$	436	$	261	$	4	$	8	$	2,194	$	1,993
Great Britain		243		238		297		314		528		496		—		—		—		—		1,068		1,048
Western Europe		275		279		371		367		125		120		—		—		2		—		773		766
International		149		149		218		227		83		86		4		—		—		—		454		462
Total revenue by geography	$	1,605	$	1,615	$	1,415	$	1,402	$	1,023	$	983	$	440	$	261	$	6	$	8	$	4,489	$	4,269

Contract with Customer, Asset and Liability

The Company reports accounts receivable, net on the condensed consolidated balance sheet, which includes billed and unbilled receivables and current contract assets. In addition to accounts receivable, net, the Company had the following non-current contract assets and deferred revenue balances at June 30, 2020 and December 31, 2019:

	June 30, 2020		December 31, 2019
Billed receivables, net of allowance for doubtful accounts of $57 million and $37 million	$	1,744	$	1,831
Unbilled receivables		452		434
Current contract assets		234		356
Accounts receivable, net	$	2,430	$	2,621
Non-current accounts receivable, net	$	33	$	30
Non-current contract assets	$	172	$	105
Deferred revenue	$	558	$	538

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

In addition, in accordance with ASC 606, Revenue From Contracts With Customers (‘ASC 606’), the Company has elected not to disclose the remaining performance obligations when one or both of the following circumstances apply:

•

Performance obligations which are part of a contract that has an original expected duration of less than one year, and

•

Performance obligations satisfied in accordance with ASC 606-10-55-18 (‘right to invoice’).

		Remainder of 2020				2021				2022 onward				Total
Revenue expected to be recognized on contracts as of June 30, 2020		$	283			$	441			$	611			$	1,335