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Employee Benefits
 3 Months Ended
Mar. 31, 2017
Compensation and Retirement Disclosure [Abstract]  
Employee Benefits
Employee Benefits
The following table provides the components of the net periodic (benefit) cost recognized in the Condensed Consolidated Statements of Income in Compensation and benefits for Aon’s material U.K., U.S., and other significant international pension plans located in the Netherlands and Canada (in millions):
 
Three months ended March 31
 
U.K.
 
U.S.
 
Other
 
2017
 
2016
 
2017
 
2016
 
2017
 
2016
Service cost
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Interest cost
30

 
43

 
24

 
28

 
6

 
7

Expected return on plan assets, net of administration expenses
(48
)
 
(64
)
 
(35
)
 
(39
)
 
(11
)
 
(12
)
Amortization of prior-service cost
—

 
1

 
—

 
—

 
—

 
—

Amortization of net actuarial loss
7

 
8

 
13

 
13

 
3

 
3

Net periodic (benefit) cost
$
(11
)
 
$
(12
)
 
$
2

 
$
2

 
$
(2
)
 
$
(2
)

In March 2017, the Company approved a plan to offer a voluntary one-time lump sum payment option to certain eligible employees of the Company’s U.K. pension plans that, if accepted, would settle the Company’s pension obligation to them. A non-cash settlement charge is expected in the fourth quarter of 2017.
Contributions
The Company expects to contribute approximately $80 million, $87 million, and $18 million, based on exchange rates as of December 31, 2016, to its significant U.K., U.S., and other significant international pension plans, respectively, during 2017. During the three months ended March 31, 2017, contributions of $16 million, $13 million, and $2 million were made to the Company’s significant U.K., U.S., and other significant international pension plans, respectively.
During the three months ended March 31, 2016, contributions of $17 million, $13 million, and $7 million were made to the Company’s significant U.K., U.S., and other significant international pension plans, respectively.