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Guarantee of Registered Securities (Tables)
12 Months Ended
Dec. 31, 2013
Guarantee of Registered Securities  
Condensed Consolidating Statement of Income
Condensed Consolidating Statement of Income
 
Year Ended December 31, 2013
(millions)
Aon plc
 
Aon Corporation
 
Other
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Revenue
 
 
 
 
 
 
 
 
 
Commissions, fees and other
$
3

 
$

 
$
11,784

 
$

 
$
11,787

Fiduciary investment income

 

 
28

 

 
28

Total revenue
3

 

 
11,812

 

 
11,815

Expenses
 
 
 
 
 
 
 
 
 
Compensation and benefits
69

 
183

 
6,693

 

 
6,945

Other general expenses
4

 
35

 
3,160

 

 
3,199

Total operating expenses
73

 
218

 
9,853

 

 
10,144

Operating income
(70
)
 
(218
)
 
1,959

 

 
1,671

Interest income

 
3

 
6

 

 
9

Interest expense
(20
)
 
(138
)
 
(52
)
 

 
(210
)
Intercompany interest (expense) income
120

 
24

 
(144
)
 

 

Other Income

 
19

 
49

 

 
68

Income (loss) before taxes
30

 
(310
)
 
1,818

 

 
1,538

Income tax expense (benefit)
12

 
(64
)
 
442

 

 
390

(Income) loss before equity in earnings of subsidiaries
18

 
(246
)
 
1,376

 

 
1,148

Equity in earnings of subsidiaries, net of tax
1,095

 
1,061

 

 
(2,156
)
 

Net income
1,113

 
815

 
1,376

 
(2,156
)
 
1,148

Less: Net income attributable to noncontrolling interests

 

 
35

 

 
35

Net income attributable to Aon shareholders
$
1,113

 
$
815

 
$
1,341

 
$
(2,156
)
 
$
1,113

Condensed Consolidating Statement of Income
 
Year Ended December 31, 2012
(millions)
Aon plc
 
Aon Corporation
 
Other
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Revenue
 
 
 
 
 
 
 
 
 
Commissions, fees and other
$
2

 
$
1

 
$
11,474

 
$
(1
)
 
$
11,476

Fiduciary investment income

 
1

 
37

 

 
38

Total revenue
2

 
2

 
11,511

 
(1
)
 
11,514

Expenses
 
 
 
 
 
 
 
 
 
Compensation and benefits
117

 
24

 
6,568

 

 
6,709

Other general expenses
18

 
47

 
3,145

 
(1
)
 
3,209

Total operating expenses
135

 
71

 
9,713

 
(1
)
 
9,918

Operating (loss) income
(133
)
 
(69
)
 
1,798

 

 
1,596

Interest income

 
1

 
9

 

 
10

Interest expense

 
(164
)
 
(64
)
 

 
(228
)
Intercompany interest (expense) income
(19
)
 
190

 
(171
)
 

 

Other income (expense)

 
57

 
(55
)
 

 
2

(Loss) income before taxes
(152
)
 
15

 
1,517

 

 
1,380

Income tax (benefit) expense
(37
)
 
8

 
389

 

 
360

(Loss) income before equity in earnings of subsidiaries
(115
)
 
7

 
1,128

 

 
1,020

Equity in earnings of subsidiaries, net of tax
1,108

 
932

 

 
(2,040
)
 

Net income
993

 
939

 
1,128

 
(2,040
)
 
1,020

Less: Net income attributable to noncontrolling interests

 

 
27

 

 
27

Net income attributable to Aon shareholders
$
993

 
$
939

 
$
1,101

 
$
(2,040
)
 
$
993

Condensed Consolidating Statement of Income
 
Year Ended December 31, 2011
(millions)
Aon plc
 
Aon Corporation
 
Other
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustment
 
Consolidated
Revenue
 
 
 
 
 
 
 
 
 
Commissions, fees and other
$

 
$

 
$
11,236

 
$
(1
)
 
$
11,235

Fiduciary investment income

 
2

 
50

 

 
52

Total revenue

 
2

 
11,286

 
(1
)
 
11,287

Expenses
 
 
 
 
 
 
 
 
 
Compensation and benefits

 
118

 
6,449

 

 
6,567

Other general expenses

 
47

 
3,078

 
(1
)
 
3,124

Total operating expenses

 
165

 
9,527

 
(1
)
 
9,691

Operating income

 
(163
)
 
1,759

 

 
1,596

Interest income

 
4

 
14

 

 
18

Interest expense

 
(171
)
 
(74
)
 

 
(245
)
Intercompany interest income (expense)

 
180

 
(180
)
 

 

Other income (expense)

 
36

 
(17
)
 

 
19

(Loss) income before taxes

 
(114
)
 
1,502

 

 
1,388

Income tax (benefit) expense

 
(43
)
 
421

 

 
378

(Loss) income before equity in earnings of subsidiaries

 
(71
)
 
1,081

 

 
1,010

Equity in earnings of subsidiaries, net of tax
979

 
868

 

 
(1,847
)
 

Net income
979

 
797

 
1,081

 
(1,847
)
 
1,010

Less: Net income attributable to noncontrolling interests

 

 
31

 

 
31

Net income attributable to Aon shareholders
$
979

 
$
797

 
$
1,050

 
$
(1,847
)
 
$
979

Condensed Consolidating Statement of Comprehensive Income
Condensed Consolidating Statement of Comprehensive Income
 
Year Ended December 31, 2013
(millions)
Aon plc
 
Aon Corporation
 
Other
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Net income
$
1,113

 
$
815

 
$
1,376

 
$
(2,156
)
 
$
1,148

Less: Net income attributable to noncontrolling interests

 

 
35

 

 
35

Net income attributable to Aon shareholders
$
1,113

 
$
815

 
$
1,341

 
$
(2,156
)
 
$
1,113

Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
 
 
 
Change in fair value of investments

 

 
1

 

 
1

Change in fair value of derivatives

 
5

 
1

 

 
6

Foreign currency translation adjustments

 
(60
)
 
(5
)
 

 
(65
)
Post-retirement benefit obligation

 
223

 
70

 

 
293

Total other comprehensive income

 
168

 
67

 

 
235

Equity in other comprehensive income of subsidiaries, net of tax
236

 
69

 

 
(305
)
 

Less: Other comprehensive loss attributable to noncontrolling interests

 

 
(1
)
 

 
(1
)
Total other comprehensive income attributable to Aon shareholders
236

 
237

 
68

 
(305
)
 
236

Comprehensive income attributable to Aon shareholders
$
1,349

 
$
1,052

 
$
1,409

 
$
(2,461
)
 
$
1,349

Condensed Consolidating Statement of Comprehensive Income
 
Year Ended December 31, 2012
(millions)
Aon plc
 
Aon Corporation
 
Other
Non-Guarantor
Subsidiaries
 
Consolidating Adjustments
 
Consolidated
Net income
$
993

 
$
939

 
$
1,128

 
$
(2,040
)
 
$
1,020

Less: Net income attributable to noncontrolling interests

 

 
27

 

 
27

Net income attributable to Aon shareholders
$
993

 
$
939

 
$
1,101

 
$
(2,040
)
 
$
993

Other comprehensive loss, net of tax:
 
 
 
 
 
 
 
 
 
Change in fair value of derivatives

 
2

 
7

 

 
9

Foreign currency translation adjustments

 
24

 
85

 

 
109

Post-retirement benefit obligation

 
(68
)
 
(290
)
 

 
(358
)
Total other comprehensive loss

 
(42
)
 
(198
)
 

 
(240
)
Equity in other comprehensive loss of subsidiaries, net of tax
(240
)
 
(187
)
 

 
427

 

Less: Other comprehensive income attributable to noncontrolling interests

 

 

 

 

Total other comprehensive loss attributable to Aon shareholders
(240
)
 
(229
)
 
(198
)
 
427

 
(240
)
Comprehensive income attributable to Aon shareholders
$
753

 
$
710

 
$
903

 
$
(1,613
)
 
$
753

Condensed Consolidating Statement of Comprehensive Income
 
Year Ended December 31, 2011
(millions)
Aon plc
 
Aon
Corporation
 
Other
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Net income
$
979

 
$
797

 
$
1,081

 
$
(1,847
)
 
$
1,010

Less: Net income attributable to noncontrolling interests

 

 
31

 

 
31

Net income attributable to Aon shareholders
$
979

 
$
797

 
$
1,050

 
$
(1,847
)
 
$
979

Other comprehensive loss, net of tax:
 
 
 
 
 
 
 
 
 
Change in fair value of derivatives

 

 
(13
)
 

 
(13
)
Foreign currency translation adjustments

 
(6
)
 
(37
)
 

 
(43
)
Post-retirement benefit obligation

 
(173
)
 
(223
)
 

 
(396
)
Total other comprehensive loss

 
(179
)
 
(273
)
 

 
(452
)
Equity in other comprehensive loss of subsidiaries, net of tax
(453
)
 
(277
)
 

 
730

 

Less: Other comprehensive income attributable to noncontrolling interests

 

 
1

 

 
1

Total other comprehensive loss attributable to Aon shareholders
(453
)
 
(456
)
 
(274
)
 
730

 
(453
)
Comprehensive income attributable to Aon shareholders
$
526

 
$
341

 
$
776

 
$
(1,117
)
 
$
526

Condensed Consolidating Statement of Financial Position
Condensed Consolidating Statement of Financial Position
 
As of December 31, 2013
(millions)
Aon plc
 
Aon
Corporation
 
Other
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
ASSETS
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$

 
$
247

 
$
1,246

 
$
(1,016
)
 
$
477

Short-term investments

 
163

 
360

 

 
523

Receivables, net

 
4

 
2,892

 

 
2,896

Fiduciary assets

 

 
11,871

 

 
11,871

Intercompany receivables
186

 
3,503

 
5,452

 
(9,141
)
 

Other current assets

 
69

 
513

 
(19
)
 
563

Total Current Assets
186

 
3,986

 
22,334

 
(10,176
)
 
16,330

Goodwill

 

 
8,997

 

 
8,997

Intangible assets, net

 

 
2,578

 

 
2,578

Fixed assets, net

 

 
791

 

 
791

Investments

 
57

 
75

 

 
132

Deferred tax assets
140

 
465

 
193

 
(605
)
 
193

Intercompany receivables
7,166

 
2,178

 
2,201

 
(11,545
)
 

Other non-current assets
6

 
95

 
1,228

 
(99
)
 
1,230

Investment in subsidiary
4,607

 
11,694

 

 
(16,301
)
 

TOTAL ASSETS
$
12,105

 
$
18,475

 
$
38,397

 
$
(38,726
)
 
$
30,251

LIABILITIES AND EQUITY
 
 
 
 
 
 
 
 
 
Fiduciary liabilities
$

 
$

 
$
11,871

 
$

 
$
11,871

Short-term debt and current portion of long-term debt

 

 
707

 
(4
)
 
703

Accounts payable and accrued liabilities
1,036

 
62

 
1,849

 
(1,016
)
 
1,931

Intercompany payables
15

 
5,449

 
3,677

 
(9,141
)
 

Other current liabilities
12

 
47

 
866

 
(19
)
 
906

Total Current Liabilities
1,063

 
5,558

 
18,970

 
(10,180
)
 
15,411

Long-term debt
792

 
2,512

 
378

 
4

 
3,686

Deferred tax liabilities

 

 
1,025

 
(605
)
 
420

Pension, other post-retirement and other post-employment liabilities

 
925

 
682

 

 
1,607

Intercompany payables
2,100

 
7,267

 
2,178

 
(11,545
)
 

Other non-current liabilities
5

 
159

 
867

 
(99
)
 
932

TOTAL LIABILITIES
3,960

 
16,421

 
24,100

 
(22,425
)
 
22,056

TOTAL AON SHAREHOLDERS’ EQUITY
8,145

 
2,054

 
14,247

 
(16,301
)
 
8,145

Noncontrolling interests

 

 
50

 

 
50

TOTAL EQUITY
8,145

 
2,054

 
14,297

 
(16,301
)
 
8,195

TOTAL LIABILITIES AND EQUITY
$
12,105

 
$
18,475

 
$
38,397

 
$
(38,726
)
 
$
30,251

Condensed Consolidating Statement of Financial Position
 
As of December 31, 2012
(millions)
Aon plc
 
Aon
Corporation
 
Other
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
ASSETS
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
131

 
$
199

 
$

 
$
(39
)
 
$
291

Short-term investments

 
89

 
257

 

 
346

Receivables, net
5

 
1

 
3,095

 

 
3,101

Fiduciary assets

 

 
12,214

 

 
12,214

Intercompany receivables

 
2,092

 
3,545

 
(5,637
)
 

Other current assets
7

 
53

 
370

 

 
430

Total Current Assets
143

 
2,434

 
19,481

 
(5,676
)
 
16,382

Goodwill

 

 
8,943

 

 
8,943

Intangible assets, net

 

 
2,975

 

 
2,975

Fixed assets, net

 

 
820

 

 
820

Investments

 
49

 
116

 

 
165

Deferred tax assets
117

 
620

 
266

 
(718
)
 
285

Intercompany receivables
166

 
1,997

 
2,350

 
(4,513
)
 

Other non-current assets

 
115

 
908

 
(107
)
 
916

Investment in subsidiary
10,398

 
10,208

 

 
(20,606
)
 

TOTAL ASSETS
$
10,824

 
$
15,423

 
$
35,859

 
$
(31,620
)
 
$
30,486

LIABILITIES AND EQUITY
 
 
 
 
 
 
 
 
 
Fiduciary liabilities
$

 
$

 
$
12,214

 
$

 
$
12,214

Short-term debt and current portion of long-term debt

 
429

 
23

 

 
452

Accounts payable and accrued liabilities
10

 
71

 
1,811

 
(39
)
 
1,853

Intercompany payables
51

 
2,637

 
2,162

 
(4,850
)
 

Other current liabilities

 
49

 
779

 
3

 
831

Total Current Liabilities
61

 
3,186

 
16,989

 
(4,886
)
 
15,350

Long-term debt
107

 
2,515

 
1,091

 

 
3,713

Deferred tax liabilities

 

 
1,024

 
(718
)
 
306

Pension, other post-retirement and other post-employment liabilities

 
1,294

 
982

 

 
2,276

Intercompany payables
2,890

 
166

 
2,247

 
(5,303
)
 

Other non-current liabilities
4

 
254

 
885

 
(107
)
 
1,036

TOTAL LIABILITIES
3,062

 
7,415

 
23,218

 
(11,014
)
 
22,681

TOTAL AON SHAREHOLDERS’ EQUITY
7,762

 
8,008

 
12,598

 
(20,606
)
 
7,762

Noncontrolling interests

 

 
43

 

 
43

TOTAL EQUITY
7,762

 
8,008

 
12,641

 
(20,606
)
 
7,805

TOTAL LIABILITIES AND EQUITY
$
10,824

 
$
15,423

 
$
35,859

 
$
(31,620
)
 
$
30,486

Condensed Consolidating Statement of Cash Flows
Condensed Consolidating Statement of Cash Flows
 
Year Ended December 31, 2013
(millions)
Aon plc
 
Aon
Corporation
 
Other
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES
 
 
 
 
 
 
 
 
 
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES
$
(50
)
 
$
(441
)
 
$
2,124

 
$

 
$
1,633

CASH FLOWS FROM INVESTING ACTIVITIES
 
 
 
 
 
 
 
 
 
Sales of long-term investments

 
8

 
85

 

 
93

Purchase of long-term investments

 
(15
)
 

 

 
(15
)
Net (purchases) sales of short-term investments - non-fiduciary

 
(74
)
 
(100
)
 

 
(174
)
Acquisition of businesses, net of cash acquired

 

 
(54
)
 

 
(54
)
Proceeds from sale of businesses

 
7

 
33

 

 
40

Capital expenditures

 


 
(229
)
 

 
(229
)
CASH USED FOR INVESTING ACTIVITIES

 
(74
)
 
(265
)
 

 
(339
)
CASH FLOWS FROM FINANCING ACTIVITIES
 
 
 
 
 
 
 
 
 
Share repurchase
(1,102
)
 

 

 

 
(1,102
)
Advances from (to) affiliates
460

 
996

 
(479
)
 
(977
)
 

Issuance of shares for employee benefit plans
98

 

 

 

 
98

Issuance of debt
1,730

 
2,944

 
232

 

 
4,906

Repayment of debt
(1,055
)
 
(3,377
)
 
(247
)
 

 
(4,679
)
Cash dividends to shareholders
(212
)
 

 

 

 
(212
)
Purchase of shares from noncontrolling interests

 

 
(8
)
 

 
(8
)
Dividends paid to noncontrolling interests

 

 
(19
)
 

 
(19
)
CASH (USED FOR) PROVIDED BY FINANCING ACTIVITIES
(81
)
 
563

 
(521
)
 
(977
)
 
(1,016
)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS

 

 
(92
)
 

 
(92
)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS
(131
)
 
48

 
1,246

 
(977
)
 
186

CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR
131

 
199

 

 
(39
)
 
291

CASH AND CASH EQUIVALENTS AT END OF PERIOD
$

 
$
247

 
$
1,246

 
$
(1,016
)
 
$
477

Condensed Consolidating Statement of Cash Flows
 
Year Ended December 31, 2012
(millions)
Aon plc
 
Aon
Corporation
 
Other
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES
 
 
 
 
 
 
 
 
 
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES
$
(87
)
 
$
(105
)
 
$
1,611

 
$

 
$
1,419

CASH FLOWS FROM INVESTING ACTIVITIES
 
 
 
 
 
 
 
 
 
Sales of long-term investments

 
79

 
99

 

 
178

Purchase of long-term investments

 
(12
)
 

 

 
(12
)
Net (purchases) sales of short-term investments - non-fiduciary

 
232

 
208

 

 
440

Acquisition of businesses, net of cash acquired
(50
)
 
(55
)
 
(57
)
 

 
(162
)
Proceeds from sale of businesses

 

 
2

 

 
2

Capital expenditures

 

 
(269
)
 

 
(269
)
CASH USED FOR INVESTING ACTIVITIES
(50
)
 
244

 
(17
)
 

 
177

CASH FLOWS FROM FINANCING ACTIVITIES
 
 
 
 
 
 
 
 
 
Share repurchase
(1,025
)
 
(100
)
 

 

 
(1,125
)
Advances from (to) affiliates
1,379

 
489

 
(1,850
)
 
(18
)
 

Issuance of shares for employee benefit plans
69

 
49

 

 

 
118

Issuance of debt

 
732

 
1

 

 
733

Repayment of debt

 
(1,061
)
 
(16
)
 

 
(1,077
)
Cash dividends to shareholders
(155
)
 
(49
)
 

 

 
(204
)
Purchase of shares from noncontrolling interests

 

 
(4
)
 

 
(4
)
Dividends paid to noncontrolling interests

 

 
(27
)
 

 
(27
)
CASH (USED FOR) PROVIDED BY FINANCING ACTIVITIES
268

 
60

 
(1,896
)
 
(18
)
 
(1,586
)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS

 

 
9

 

 
9

NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS
131

 
199

 
(293
)
 
(18
)
 
19

CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR

 

 
293

 
(21
)
 
272

CASH AND CASH EQUIVALENTS AT END OF PERIOD
$
131

 
$
199

 
$

 
$
(39
)
 
$
291

Condensed Consolidating Statement of Cash Flows
 
Year Ended December 31, 2011
(millions)
Aon plc
 
Aon
Corporation
 
Other
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES
 
 
 
 
 
 
 
 
 
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES
$

 
$
(201
)
 
$
1,219

 
$

 
$
1,018

CASH FLOWS FROM INVESTING ACTIVITIES
 
 
 
 
 
 
 
 
 
Sales of long-term investments

 
133

 
57

 

 
190

Purchase of long-term investments

 
(20
)
 
(10
)
 

 
(30
)
Net (purchases) sales of short-term investments - non-fiduciary

 
115

 
(123
)
 

 
(8
)
Acquisition of businesses, net of cash acquired

 
(10
)
 
(96
)
 

 
(106
)
Proceeds from sale of businesses

 
5

 
4

 

 
9

Capital expenditures

 

 
(241
)
 

 
(241
)
CASH USED FOR INVESTING ACTIVITIES

 
223

 
(409
)
 

 
(186
)
CASH FLOWS FROM FINANCING ACTIVITIES
 
 
 
 
 
 
 
 
 
Share repurchase

 
(828
)
 

 

 
(828
)
Advances from (to) affiliates

 
789

 
(768
)
 
(21
)
 

Issuance of shares for employee benefit plans

 
201

 

 

 
201

Issuance of debt

 
1,290

 
383

 

 
1,673

Repayment of debt

 
(1,288
)
 
(400
)
 

 
(1,688
)
Cash dividends to shareholders

 
(200
)
 

 

 
(200
)
Purchase of shares from noncontrolling interests

 

 
(24
)
 

 
(24
)
Dividends paid to noncontrolling interests

 

 
(30
)
 

 
(30
)
CASH (USED FOR) PROVIDED BY FINANCING ACTIVITIES

 
(36
)
 
(839
)
 
(21
)
 
(896
)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS

 

 
(10
)
 

 
(10
)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS

 
(14
)
 
(39
)
 
(21
)
 
(74
)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR

 
14

 
332

 

 
346

CASH AND CASH EQUIVALENTS AT END OF PERIOD
$

 
$

 
$
293

 
$
(21
)
 
$
272