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Guarantee of Registered Securities
3 Months Ended
Mar. 31, 2017
Guarantee of Registered Securities [Abstract]  
Guarantee of Registered Securities
Guarantee of Registered Securities
As described in Note 16 “Commitments and Contingencies,” in connection with the Redomestication, Aon plc entered into various agreements pursuant to which it agreed to guarantee the obligations of Aon Corporation arising under issued and outstanding debt securities, including the 5.00% Notes due September 2020, the 8.205% Notes due January 2027 and the 6.25% Notes due September 2040 (collectively, the “Aon Corp Notes”). Aon Corporation is a 100% indirectly owned subsidiary of Aon plc. All guarantees of Aon plc are full and unconditional. There are no other subsidiaries of Aon plc that are guarantors of the Aon Corp Notes.
In addition, Aon Corporation entered into an agreement pursuant to which it agreed to guarantee the obligations of Aon plc arising under the 4.250% Notes due 2042 exchanged for Aon Corporation’s outstanding 8.205% Notes due January 2027 and also agreed to guarantee the obligations of Aon plc arising under the 4.45% Notes due 2043, the 4.00% Notes due November 2023, the 2.875% Notes due May 2026, the 3.50% Notes due June 2024, the 4.60% Notes due June 2044, the 4.75% Notes due May 2045, the 2.80% Notes due March 2021, and the 3.875% Notes due December 2025 (collectively, the “Aon plc Notes”). In each case, the guarantee of Aon Corporation is full and unconditional. There are no subsidiaries of Aon plc, other than Aon Corporation, that are guarantors of the Aon plc Notes. As a result of the existence of these guarantees, the Company has elected to present the financial information set forth in this footnote in accordance with Rule 3-10 of Regulation S-X.
The following tables set forth condensed consolidating statements of income for the three months ended March 31, 2017 and 2016, condensed consolidating statements of comprehensive income for the three months ended March 31, 2017 and 2016, condensed consolidating statements of financial position as of March 31, 2017 and December 31, 2016, and condensed consolidating statements of cash flows for the three months ended March 31, 2017 and 2016 in accordance with Rule 3-10 of Regulation S-X. The condensed consolidating financial information includes the accounts of Aon plc, the accounts of Aon Corporation, and the combined accounts of the non-guarantor subsidiaries. The condensed consolidating financial statements are presented in all periods as a merger under common control, with Aon plc presented as the parent company in all periods prior and subsequent to the Redomestication. The principal consolidating adjustments are to eliminate the investment in subsidiaries and intercompany balances and transactions.
As described in Note 1 “Basis of Presentation” and consistent with The Company’s Condensed Consolidated Financial Statements, the following tables present the financial results of the Divested Business as discontinued operations for all periods presented within Non-Guarantor Subsidiaries. The impact of intercompany transactions have been reflected within continuing operations in the Condensed Consolidating Financial Statements.
Condensed Consolidating Statement of Income
 
 
Three months ended March 31, 2017
 
 
 
 
 
 
Other
 
 
 
 
 
 
Aon
 
Aon
 
Non-Guarantor
 
Consolidating
 
 
(millions)
 
plc
 
Corporation
 
Subsidiaries
 
Adjustments
 
Consolidated
Revenue
 
 
 
 
 
 
 
 
 
 
Total revenue
 
$
—

 
$
—

 
$
2,381

 
$
—

 
$
2,381

Expenses
 
 
 
 
 
 
 
 
 
 
Compensation and benefits
 
52

 
6

 
1,403

 
—

 
1,461

Information technology
 
—

 
—

 
88

 
—

 
88

Premises
 
—

 
—

 
84

 
—

 
84

Depreciation of fixed assets
 
—

 
—

 
54

 
—

 
54

Amortization of intangible assets
 
—

 
—

 
43

 
—

 
43

Other general expenses
 
5

 
2

 
301

 
—

 
308

Total operating expenses
 
57

 
8

 
1,973

 
—

 
2,038

Operating (loss) income
 
(57
)
 
(8
)
 
408

 
—

 
343

Interest income
 
—

 
6

 
(2
)
 
(2
)
 
2

Interest expense
 
(45
)
 
(24
)
 
(3
)
 
2

 
(70
)
Intercompany interest income (expense)
 
3

 
(136
)
 
133

 
—

 
—

Intercompany other (expense) income
 
(50
)
 
7

 
43

 
—

 
—

Other income (expense)
 
(10
)
 
12

 
(20
)
 
8

 
(10
)
Income from continuing operations before income taxes
 
(159
)
 
(143
)
 
559

 
8

 
265

Income tax (benefit) expense
 
(14
)
 
(54
)
 
68

 
—

 
—

(Loss) income from continuing operations
 
(145
)
 
(89
)
 
491

 
8

 
265

Income from discontinued operations, net of tax
 
—

 
—

 
40

 
—

 
40

(Loss) income before equity in earnings of subsidiaries
 
(145
)
 
(89
)
 
531

 
8

 
305

Equity in earnings of subsidiaries, net of tax
 
428

 
271

 
182

 
(881
)
 
—

Net income
 
283

 
182

 
713

 
(873
)
 
305

Less: Net income attributable to noncontrolling interests
 
—

 
—

 
14

 
—

 
14

Net income attributable to Aon shareholders
 
$
283

 
$
182

 
$
699

 
$
(873
)
 
$
291

Condensed Consolidating Statement of Income
 
 
Three months ended March 31, 2016
 
 
 
 
 
 
Other
 
 
 
 
 
 
Aon
 
Aon
 
Non-Guarantor
 
Consolidating
 
 
(millions)
 
plc
 
Corporation
 
Subsidiaries
 
Adjustments
 
Consolidated
Revenue
 
 
 
 
 
 
 
 
 
 
Total revenue
 
$
—

 
$
—

 
$
2,276

 
$
—

 
$
2,276

Expenses
 
 
 
 
 
 
 
 
 
 
Compensation and benefits
 
43

 
3

 
1,299

 
—

 
1,345

Information technology
 
—

 
—

 
83

 
—

 
83

Premises
 
—

 
—

 
82

 
—

 
82

Depreciation of fixed assets
 
—

 
—

 
38

 
—

 
38

Amortization of intangible assets
 
—

 
—

 
37

 
—

 
37

Other general expenses
 
7

 
2

 
262

 
—

 
271

Total operating expenses
 
50

 
5

 
1,801

 
—

 
1,856

Operating (loss) income
 
(50
)
 
(5
)
 
475

 
—

 
420

Interest income
 
—

 
5

 
4

 
(7
)
 
2

Interest expense
 
(45
)
 
(28
)
 
(3
)
 
7

 
(69
)
Intercompany interest income (expense)
 
4

 
(133
)
 
129

 
—

 
—

Intercompany other (expense) income
 
(54
)
 
1

 
53

 
—

 
—

Other income (expense)
 
—

 
(5
)
 
23

 
—

 
18

Income from continuing operations before income taxes
 
(145
)
 
(165
)
 
681

 
—

 
371

Income tax (benefit) expense
 
(26
)
 
(62
)
 
147

 
—

 
59

(Loss) income from continuing operations
 
(119
)
 
(103
)
 
534

 
—

 
312

Income from discontinued operations, net of tax
 
—

 
—

 
25

 
—

 
25

(Loss) income before equity in earnings of subsidiaries
 
(119
)
 
(103
)
 
559

 
—

 
337

Equity in earnings of subsidiaries, net of tax
 
444

 
356

 
253

 
(1,053
)
 
—

Net income
 
325

 
253

 
812

 
(1,053
)
 
337

Less: Net income attributable to noncontrolling interests
 
—

 
—

 
12

 
—

 
12

Net income attributable to Aon shareholders
 
$
325

 
$
253

 
$
800

 
$
(1,053
)
 
$
325

 
Condensed Consolidating Statement of Comprehensive Income
 
 
Three months ended March 31, 2017
 
 
 
 
 
 
Other
 
 
 
 
 
 
Aon
 
Aon
 
Non-Guarantor
 
Consolidating
 
 
(millions)
 
plc
 
Corporation
 
Subsidiaries
 
Adjustments
 
Consolidated
Net income (loss)
 
$
283

 
$
182

 
$
713

 
$
(873
)
 
$
305

Less: Net income attributable to noncontrolling interests
 
—

 
—

 
14

 
—

 
14

Net income (loss) attributable to Aon shareholders
 
283

 
182

 
699

 
(873
)
 
291

Other comprehensive (loss) income, net of tax:
 
 
 
 
 
 
 
 
 
 
Change in fair value of financial instruments
 
—

 
(2
)
 
—

 
—

 
(2
)
Foreign currency translation adjustments
 
—

 
—

 
155

 
(8
)
 
147

Post-retirement benefit obligation
 
—

 
8

 
10

 
—

 
18

Total other comprehensive income (loss)
 
—

 
6

 
165

 
(8
)
 
163

Equity in other comprehensive loss of subsidiaries, net of tax
 
170

 
164

 
170

 
(504
)
 
—

Less: Other comprehensive income attributable to noncontrolling interests
 
—

 
—

 
1

 
—

 
1

Total other comprehensive loss attributable to Aon shareholders
 
170

 
170

 
334

 
(512
)
 
162

Comprehensive income (loss) attributable to Aon shareholders
 
$
453

 
$
352

 
$
1,033

 
$
(1,385
)
 
$
453

Condensed Consolidating Statement of Comprehensive Income
 
 
Three months ended March 31, 2016
 
 
 
 
 
 
Other
 
 
 
 
 
 
Aon
 
Aon
 
Non-Guarantor
 
Consolidating
 
 
(millions)
 
plc
 
Corporation
 
Subsidiaries
 
Adjustments
 
Consolidated
Net income
 
$
325

 
$
253

 
$
812

 
$
(1,053
)
 
$
337

Less: Net income attributable to noncontrolling interests
 
—

 
—

 
12

 
—

 
12

Net income attributable to Aon shareholders
 
325

 
253

 
800

 
(1,053
)
 
325

Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
 
 
 
 
Change in fair value of financial instruments
 
—

 
(2
)
 
(5
)
 
—

 
(7
)
Foreign currency translation adjustments
 
—

 
11

 
(90
)
 
—

 
(79
)
Post-retirement benefit obligation
 
—

 
13

 
(214
)
 
—

 
(201
)
Total other comprehensive loss
 
—

 
22

 
(309
)
 
—

 
(287
)
Equity in other comprehensive loss of subsidiaries, net of tax
 
(287
)
 
(314
)
 
(292
)
 
893

 
—

Less: Other comprehensive loss attributable to noncontrolling interests
 
—

 
—

 
—

 
—

 
—

Total other comprehensive loss attributable to Aon shareholders
 
(287
)
 
(292
)
 
(601
)
 
893

 
(287
)
Comprehensive income (loss) attributable to Aon Shareholders
 
$
38

 
$
(39
)
 
$
199

 
$
(160
)
 
$
38


Condensed Consolidating Statement of Financial Position
 
 
As of March 31, 2017
 
 
 
 
 
 
Other
 
 
 
 
 
 
Aon
 
Aon
 
Non-Guarantor
 
Consolidating
 
 
(millions)
 
plc
 
Corporation
 
Subsidiaries
 
Adjustments
 
Consolidated
ASSETS
 
 

 
 

 
 

 
 

 
 

Cash and cash equivalents
 
$
—

 
$
1,425

 
$
596

 
$
(1,588
)
 
$
433

Short-term investments
 
—

 
46

 
154

 
—

 
200

Receivables, net
 
—

 
—

 
2,103

 
—

 
2,103

Fiduciary assets
 
—

 
—

 
9,162

 
—

 
9,162

Intercompany receivables
 
73

 
3,215

 
8,345

 
(11,633
)
 
—

Current assets of discontinued operations
 
—

 
—

 
3,186

 
—

 
3,186

Other current assets
 
6

 
12

 
291

 
—

 
309

Total Current Assets
 
79

 
4,698

 
23,837

 
(13,221
)
 
15,393

Goodwill
 
—

 
—

 
7,544

 
—

 
7,544

Intangible assets, net
 
—

 
—

 
1,886

 
—

 
1,886

Fixed assets, net
 
—

 
—

 
536

 
—

 
536

Non-current deferred tax assets
 
134

 
723

 
172

 
(678
)
 
351

Intercompany receivables
 
372

 
261

 
8,716

 
(9,349
)
 
—

Prepaid pension
 
—

 
5

 
888

 
—

 
893

Other non-current assets
 
2

 
120

 
257

 
—

 
379

Investment in subsidiary
 
10,707

 
15,836

 
(10
)
 
(26,533
)
 
—

TOTAL ASSETS
 
$
11,294

 
$
21,643

 
$
43,826

 
$
(49,781
)
 
$
26,982

 
 
 
 
 
 
 
 
 
 
 
LIABILITIES AND EQUITY
 
 

 
 

 
 

 
 

 
 

Accounts payable and accrued liabilities
 
$
837

 
$
18

 
$
2,065

 
$
(1,588
)
 
$
1,332

Short-term debt and current portion of long-term debt
 
324

 
60

 
283

 
—

 
667

Fiduciary liabilities
 
—

 
—

 
9,162

 
—

 
9,162

Intercompany payables
 
167

 
9,799

 
1,667

 
(11,633
)
 
—

Current liabilities of discontinued operations
 
—

 
—

 
1,036

 
—

 
1,036

Other current liabilities
 
—

 
62

 
711

 
—

 
773

Total Current Liabilities
 
1,328

 
9,939

 
14,924

 
(13,221
)
 
12,970

Long-term debt
 
4,196

 
1,413

 
1

 
—

 
5,610

Non-current deferred tax liabilities
 
—

 
—

 
790

 
(678
)
 
112

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

 
1,340

 
391

 
—

 
1,731

Intercompany payables
 
—

 
8,881

 
468

 
(9,349
)
 
—

Other non-current liabilities
 
16

 
80

 
637

 
—

 
733

TOTAL LIABILITIES
 
5,540

 
21,653

 
17,211

 
(23,248
)
 
21,156

 
 
 
 
 
 
 
 
 
 
 
TOTAL AON SHAREHOLDERS’ EQUITY
 
5,754

 
(10
)
 
26,543

 
(26,533
)
 
5,754

Noncontrolling interests
 
—

 
—

 
72

 
—

 
72

TOTAL EQUITY
 
5,754

 
(10
)
 
26,615

 
(26,533
)
 
5,826

TOTAL LIABILITIES AND EQUITY
 
$
11,294

 
$
21,643

 
$
43,826

 
$
(49,781
)
 
$
26,982

Condensed Consolidating Statement of Financial Position
 
 
As of December 31, 2016
 
 
 
 
 
 
Other
 
 
 
 
 
 
Aon
 
Aon
 
Non-Guarantor
 
Consolidating
 
 
(millions)
 
plc
 
Corporation
 
Subsidiaries
 
Adjustments
 
Consolidated
ASSETS
 
 

 
 

 
 

 
 

 
 

 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
—

 
$
1,633

 
$
655

 
$
(1,862
)
 
$
426

Short-term investments
 
—

 
140

 
150

 
—

 
290

Receivables, net
 
—

 
3

 
2,103

 
—

 
2,106

Fiduciary assets
 
—

 
—

 
8,959

 
—

 
8,959

Intercompany receivables
 
105

 
1,880

 
9,825

 
(11,810
)
 
—

Current assets of discontinued operations
 
—

 
—

 
1,118

 
—

 
1,118

Other current assets
 
—

 
25

 
222

 
—

 
247

Total Current Assets
 
105

 
3,681

 
23,032

 
(13,672
)
 
13,146

Goodwill
 
—

 
—

 
7,410

 
—

 
7,410

Intangible assets, net
 
—

 
—

 
1,890

 
—

 
1,890

Fixed assets, net
 
—

 
—

 
550

 
—

 
550

Non-current deferred tax assets
 
134

 
726

 
171

 
(706
)
 
325

Intercompany receivables
 
366

 
261

 
8,711

 
(9,338
)
 
—

Prepaid pension
 
—

 
5

 
853

 
—

 
858

Non-current assets of discontinued operations
 
—

 
—

 
2,076

 
—

 
2,076

Other non-current assets
 
2

 
119

 
239

 
—

 
360

Investment in subsidiary
 
10,107

 
17,137

 
(350
)
 
(26,894
)
 
—

TOTAL ASSETS
 
$
10,714

 
$
21,929

 
$
44,582

 
$
(50,610
)
 
$
26,615

 
 
 
 
 
 
 
 
 
 
 
LIABILITIES AND EQUITY
 
 

 
 

 
 

 
 

 
 

 
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued liabilities
 
$
585

 
$
44

 
$
2,837

 
$
(1,862
)
 
$
1,604

Short-term debt and current portion of long-term debt
 
279

 
50

 
7

 
—

 
336

Fiduciary liabilities
 
—

 
—

 
8,959

 
—

 
8,959

Intercompany payables
 
142

 
10,399

 
1,269

 
(11,810
)
 
—

Current liabilities of discontinued operations
 
—

 
—

 
940

 
—

 
940

Other current liabilities
 
—

 
63

 
593

 
—

 
656

Total Current Liabilities
 
1,006

 
10,556

 
14,605

 
(13,672
)
 
12,495

Long-term debt
 
4,177

 
1,413

 
279

 
—

 
5,869

Non-current deferred tax liabilities
 
—

 
—

 
759

 
(658
)
 
101

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

 
1,356

 
404

 
—

 
1,760

Intercompany payables
 
—

 
8,877

 
461

 
(9,338
)
 
—

Non-current liabilities of discontinued operations
 
—

 
—

 
139

 
—

 
139

Other non-current liabilities
 
8

 
77

 
634

 
—

 
719

TOTAL LIABILITIES
 
5,191

 
22,279

 
17,281

 
(23,668
)
 
21,083

 
 
 
 
 
 
 
 
 
 
 
TOTAL AON SHAREHOLDERS’ EQUITY
 
5,523

 
(350
)
 
27,244

 
(26,942
)
 
5,475

Noncontrolling interests
 
—

 
—

 
57

 
—

 
57

TOTAL EQUITY
 
5,523

 
(350
)
 
27,301

 
(26,942
)
 
5,532

TOTAL LIABILITIES AND EQUITY
 
$
10,714

 
$
21,929

 
$
44,582

 
$
(50,610
)
 
$
26,615


Condensed Consolidating Statement of Cash Flows
 
 
Three months ended March 31, 2017
 
 
Aon
 
Aon
 
Other
Non-Guarantor
 
Consolidating
 
 
(millions)
 
plc
 
Corporation
 
Subsidiaries
 
Adjustments
 
Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES
 
 

 
 

 
 

 
 

 
 

Cash provided by operating activities - continuing operations
 
$
(28
)
 
$
1,117

 
$
533

 
$
(1,440
)
 
$
182

Cash provided by operating activities - discontinued operations
 
—

 
—

 
58

 
—

 
58

CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES
 
(28
)
 
1,117

 
591

 
(1,440
)
 
240

 
 
 
 
 
 
 
 
 
 
 
CASH FLOWS FROM INVESTING ACTIVITIES
 
 
 
 
 
 
 
 
 
 
Proceeds from investments
 
—

 
565

 
4

 
(544
)
 
25

Purchases of investments
 
—

 
(4
)
 
(546
)
 
541

 
(9
)
Net purchases of short-term investments - non-fiduciary
 
—

 
94

 
—

 
—

 
94

Acquisition of businesses, net of cash acquired
 
—

 
—

 
(46
)
 
—

 
(46
)
Sale of businesses, net of cash sold
 
—

 
—

 
(2
)
 
—

 
(2
)
Capital expenditures
 
—

 
—

 
(34
)
 
—

 
(34
)
Cash provided by investing activities - continuing operations
 
—

 
655

 
(624
)
 
(3
)
 
28

Cash provided by investing activities - discontinued operations
 
—

 
—

 
(15
)
 
—

 
(15
)
CASH USED FOR INVESTING ACTIVITIES
 
—

 
655

 
(639
)
 
(3
)
 
13

 
 
 
 
 
 
 
 
 
 
 
CASH FLOWS FROM FINANCING ACTIVITIES
 
 
 
 
 
 
 
 
 
 
Share repurchase
 
(126
)
 
—

 
—

 
—

 
(126
)
Advances from (to) affiliates
 
290

 
(1,990
)
 
(17
)
 
1,717

 
—

Issuance of shares for employee benefit plans
 
(85
)
 
—

 
—

 
—

 
(85
)
Issuance of debt
 
457

 
535

 
—

 
—

 
992

Repayment of debt
 
(421
)
 
(525
)
 
(4
)
 
—

 
(950
)
Cash dividends to shareholders
 
(87
)
 
—

 
—

 
—

 
(87
)
Noncontrolling interests and other financing activities
 
—

 
—

 
(2
)
 
—

 
(2
)
Cash used for financing activities - continuing operations
 
28

 
(1,980
)
 
(23
)
 
1,717

 
(258
)
Cash used for financing activities - discontinued operations
 
—

 
—

 
—

 
—

 
—

CASH (USED FOR) PROVIDED BY FINANCING ACTIVITIES
 
28

 
(1,980
)
 
(23
)
 
1,717

 
(258
)
 
 
 
 
 
 
 
 
 
 
 
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
 
—

 
—

 
25

 
—

 
25

NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS
 
—

 
(208
)
 
(46
)
 
274

 
20

CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR
 
—

 
1,633

 
660

 
(1,862
)
 
431

CASH AND CASH EQUIVALENTS AT END OF PERIOD (1)
 
$
—

 
$
1,425

 
$
614

 
$
(1,588
)
 
$
451

(1) Includes 18 million of discontinued operations at March 31, 2017.

Condensed Consolidating Statement of Cash Flows
 
 
Three months ended March 31, 2016
 
 
 
 
 
 
Other
 
 
 
 
 
 
Aon
 
Aon
 
Non-Guarantor
 
Consolidating
 
 
(millions) 
 
plc
 
Corporation
 
Subsidiaries
 
Adjustments
 
Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES
 
 

 
 

 
 

 
 

 
 

Cash provided by operating activities - continuing operations
 
$
(47
)
 
$
(37
)
 
$
228

 
$
—

 
$
144

Cash provided by operating activities - discontinued operations
 
—

 
—

 
129

 
—

 
129

CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES
 
(47
)
 
(37
)
 
357

 
—

 
273

 
 
 
 
 
 
 
 
 
 
 
CASH FLOWS FROM INVESTING ACTIVITIES
 
 
 
 
 
 
 
 
 
 
Proceeds from investments
 
—

 
9

 
4

 
—

 
13

Purchases of investments
 
—

 
(5
)
 
(9
)
 
—

 
(14
)
Net (purchases) sales of short-term investments - non-fiduciary
 
—

 
(244
)
 
17

 
—

 
(227
)
Acquisition of businesses, net of cash acquired
 
—

 
—

 
(16
)
 
—

 
(16
)
Sale of businesses, net of cash sold
 
—

 
—

 
97

 
—

 
97

Capital expenditures
 
—

 
—

 
(37
)
 
—

 
(37
)
Cash provided by investing activities - continuing operations
 
—

 
(240
)
 
56

 
—

 
(184
)
Cash provided by investing activities - discontinued operations
 
—

 
—

 
(15
)
 
—

 
(15
)
CASH USED FOR INVESTING ACTIVITIES
 
—

 
(240
)
 
41

 
—

 
(199
)
 
 
 
 
 
 
 
 
 
 
 
CASH FLOWS FROM FINANCING ACTIVITIES
 
 
 
 
 
 
 
 
 
 
Share repurchase
 
(685
)
 
—

 
—

 
—

 
(685
)
Advances from (to) affiliates
 
(46
)
 
(219
)
 
(147
)
 
412

 
—

Issuance of shares for employee benefit plans
 
(64
)
 
—

 
(1
)
 
—

 
(65
)
Issuance of debt
 
996

 
50

 
(1
)
 
—

 
1,045

Repayment of debt
 
(72
)
 
(100
)
 
(3
)
 
—

 
(175
)
Cash dividends to shareholders
 
(82
)
 
—

 
—

 
—

 
(82
)
Noncontrolling interests and other financing activities
 
—

 
—

 
(42
)
 
—

 
(42
)
Cash used for financing activities - continuing operations
 
47

 
(269
)
 
(194
)
 
412

 
(4
)
Cash used for financing activities - discontinued operations
 
—

 
—

 
—

 
—

 
—

CASH (USED FOR) PROVIDED BY
FINANCING ACTIVITIES
 
47

 
(269
)
 
(194
)
 
412

 
(4
)
 
 
 
 
 
 
 
 
 
 
 
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
 
—

 
—

 
11

 
—

 
11

NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS
 
—

 
(546
)
 
215

 
412

 
81

CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR
 
—

 
2,083

 
1,242

 
(2,941
)
 
384

CASH AND CASH EQUIVALENTS AT END OF PERIOD (1)
 
$
—

 
$
1,537

 
$
1,457

 
$
(2,529
)
 
$
465


(1) Includes $3 million of discontinued operations at March 31, 2016.