Employee Benefits

3 Months Ended

Mar. 31, 2020

Retirement Benefits [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 for Aon’s significant U.K., U.S., and other major pension plans, which are located in the Netherlands and Canada. Service cost is reported in Compensation and benefits and all other components are reported in Other income (expense) as follows (in millions):

	Three Months Ended March 31,
	U.K.						U.S.						Other
	2020			2019			2020			2019			2020			2019
Service cost	$	—		$	—		$	—		$	—		$	—		$	—
Interest cost	22			28			21			27			4			7
Expected return on plan assets, net of administration expenses	(39		)	(49		)	(33		)	(34		)	(8		)	(10		)
Amortization of prior-service cost	—			1			—			1			—			—
Amortization of net actuarial loss	7			7			17			13			3			3
Total net periodic (benefit) cost	$	(10	)	$	(13	)	$	5		$	7		$	(1	)	$	—

Contributions

Assuming no additional contributions are agreed to with, or required by, the pension plan trustees, the Company expects to make total cash contributions of approximately $5 million, $99 million, and $19 million, (at December 31, 2019 exchange rates) to its significant U.K., U.S., and other major pension plans, respectively, during 2020. The following table summarizes contributions made to the Company’s significant pension plans (in millions):

	Three Months Ended March 31,
	2020		2019
Contributions to U.K. pension plans	$	2	$	23
Contributions to U.S. pension plans	31		17
Contributions to other major pension plans	2		7
Total contributions	$	35	$	47