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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net income $ 1,576 $ 1,631
Adjustments to reconcile net income to cash provided by operating activities:    
Gain from sales of businesses 0 (257)
Depreciation of fixed assets 93 89
Amortization and impairment of intangible assets 400 144
Share-based compensation expense 266 247
Deferred income taxes (242) (122)
Other, net (111) (112)
Change in assets and liabilities:    
Receivables, net (902) (959)
Accounts payable and accrued liabilities (738) (251)
Accelerating Aon United Program liabilities 15 61
Current income taxes (73) 60
Pension, other postretirement and postemployment liabilities (12) (17)
Other assets and liabilities 664 308
Cash provided by operating activities 936 822
Cash flows from investing activities    
Proceeds from investments 71 146
Purchases of investments (42) (91)
Net purchases (sales) of short-term investments - non fiduciary (153) 189
Acquisition of businesses, net of cash and funds held on behalf of clients (143) (2,780)
Sale of businesses, net of cash and funds held on behalf of clients 119 352
Capital expenditures (120) (101)
Cash used for investing activities (268) (2,285)
Cash flows from financing activities    
Share repurchase (500) (500)
Proceeds from issuance of shares 33 27
Cash paid for employee taxes on withholding shares (194) (176)
Commercial paper issuances, net of repayments 480 (591)
Issuance of debt 0 7,926
Repayment of debt (300) (4,328)
Increase in fiduciary liabilities, net of fiduciary receivables 569 283
Cash dividends to shareholders (308) (269)
Redeemable and nonredeemable noncontrolling interests, and other financing activities (153) (108)
Cash provided by (used for) financing activities (373) 2,264
Effect of exchange rates on cash and cash equivalents and funds held on behalf of clients 696 (202)
Net increase in cash and cash equivalents and funds held on behalf of clients 991 599
Cash, cash equivalents and funds held on behalf of clients at beginning of period 8,333 7,722
Cash, cash equivalents and funds held on behalf of clients at end of period 9,324 8,321
Reconciliation of cash and cash equivalents and funds held on behalf of clients:    
Cash and cash equivalents 1,008 974
Cash and cash equivalents and funds held on behalf of clients classified as held for sale 1 38
Funds held on behalf of clients 8,315 7,309
Total cash and cash equivalents and funds held on behalf of clients 9,324 8,321
Supplemental disclosures:    
Interest paid 416 256
Income taxes paid, net of refunds $ 692 $ 553