XML 41 R29.htm IDEA: XBRL DOCUMENT v3.24.3
Acquisitions and Dispositions of Businesses (Tables)
 9 Months Ended
Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Consideration Transferred and Preliminary Value of Intangible Assets The following table includes these amounts recognized as a result of the Company’s acquisitions (in millions):
Nine months ended September 30, 2024
NFP AcquisitionOther AcquisitionsTotal
Consideration transferred:
Cash$3,247 $377 $3,624 
Deferred and contingent consideration— 19 19 
Class A ordinary shares issued5,882 — 5,882 
Aggregate consideration transferred$9,129 $396 $9,525 
Assets acquired:
Cash and cash equivalents$293 $5 $298 
Receivables325 28 353 
Fiduciary assets (1)
411 54 465 
Goodwill6,987 205 7,192 
Other intangible assets:
Customer-related and contract-based5,825 207 6,032 
Tradenames800 1 801 
Technology and other25 1 26 
Operating lease right-of-use assets140 4 144 
Current assets 3 6 9 
Non-current assets169 2 171 
Total assets acquired14,978 513 15,491 
Liabilities assumed:
Accounts payable and accrued liabilities$283 $32 $315 
Fiduciary liabilities411 54 465 
Current liabilities232 2 234 
Long-term debt3,422 — 3,422 
Non-current operating lease liabilities125 3 128 
Deferred tax liabilities1,038 24 1,062 
Non-current liabilities145 2 147 
Total liabilities assumed5,656 117 5,773 
Less: Fair value of redeemable noncontrolling interests (2)
(108)— (108)
Less: Fair value of nonredeemable noncontrolling interests (85)— (85)
Net assets acquired$9,129 $396 $9,525 
(1)Includes $315 million of funds held on behalf of clients.
(2)The fair value of the noncontrolling interests acquired was estimated using a discounted cash flow model under the income approach and used estimated financial projections developed by management applying market participant assumptions.
Schedule of Pro Forma Information The following table presents the NFP revenue and earnings as reported in the Company’s Condensed Consolidated Statements of Income (in millions):
Three Months Ended September 30, 2024Nine Months Ended
September 30, 2024
Revenue$601 $1,043 
Net loss attributable to Aon shareholders$(19)$(38)
The unaudited pro forma financial information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the NFP Transaction had taken place on the date indicated or of results that may occur in the future (in millions):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Revenue$3,721 $3,506 $12,249 $11,605 
Net income attributable to Aon shareholders343 328 1,745 1,596