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Segment Information (Tables)
12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Reportable Operating Segments, Consolidated Revenue and Segment Operating Income
The following tables include information about Aon’s reportable segments, including total segment revenue, consolidated revenue, segment operating income, and income before income taxes:
Year Ended December 31, 2025
(millions, except per share data)Risk CapitalHuman CapitalCorporate/EliminationsTotal Consolidated
Revenue
Total revenue (1)
$11,290 $5,907 $(16)$17,181 
Expenses
Compensation and benefits5,832 3,060 93 8,985 
Information technology372 186 10 568 
Premises216 116 337 
Other expenses (2)
1,434 1,135 378 2,947 
Total operating expenses7,854 4,497 486 12,837 
Operating income3,436 1,410 (502)4,344 
Operating margin30.4 %23.9 %25.3 %
Non-operating expenses
Interest income19 
Interest expense(815)
Other income (expense)1,211 
Income before income taxes$4,759 
(1)Includes fiduciary investment income of $262 million in Risk Capital and $9 million in Human Capital for 2025.
(2)Includes expenses related to depreciation of fixed assets, amortization and impairment of intangible assets, Accelerating Aon United Program expenses, and other general expenses.
Year Ended December 31, 2024
(millions, except per share data)Risk CapitalHuman CapitalCorporate/EliminationsTotal Consolidated
Revenue
Total revenue (1)
$10,517 $5,209 $(28)$15,698 
Expenses
Compensation and benefits5,417 2,739 127 8,283 
Information technology368 168 539 
Premises215 110 — 325 
Other expense (2)
1,225 1,049 442 2,716 
Total operating expenses7,225 4,066 572 11,863 
Operating income3,292 1,143 (600)3,835 
Operating margin31.3 %21.9 %24.4 %
Non-operating expenses
Interest income67 
Interest expense(788)
Other income (expense)348 
Income before income taxes$3,462 
(1)Includes fiduciary investment income of $307 million in Risk Capital and $8 million in Human Capital for 2024.
(2)Includes expenses related to Depreciation of fixed assets, Amortization and impairment of intangible assets, Accelerating Aon United Program expenses, and Other general expenses.
Year Ended December 31, 2023
(millions, except per share data)Risk CapitalHuman CapitalCorporate/EliminationsTotal Consolidated
Revenue
Total revenue (1)
$9,524 $3,864 $(12)$13,376 
Expenses
Compensation and benefits4,800 2,003 99 6,902 
Information technology385 148 534 
Premises204 88 294 
Other expense (2)
1,189 528 144 1,861 
Total operating expenses6,578 2,767 246 9,591 
Operating income2,946 1,097 (258)3,785 
Operating margin30.9 %28.4 %28.3 %
Non-operating expenses
Interest income31 
Interest expense(484)
Other income (expense)(163)
Income before income taxes$3,169 
(1)Includes fiduciary investment income of $270 million in Risk Capital and $4 million in Human Capital for 2023.
(2)Includes expenses related to Depreciation of fixed assets, Amortization and impairment of intangible assets, Accelerating Aon United Program expenses, and Other general expenses.
Schedule of Geographic Areas of Fixed Assets and Operating Lease Right-of-Use Asset
The following table includes consolidated long-lived assets, net by geographic area (in millions). Long-lived assets are comprised of Fixed assets, net, Operating lease right-of-use assets, and finance lease assets classified as Other non-current assets:
As of December 31TotalUnited
States
Americas other
than U.S.
United
Kingdom
IrelandOther Europe, Middle East, & AfricaAsia
Pacific
2025$1,379 $539 $129 $147 $28 $301 $235 
2024$1,357 $598 $117 $144 $28 $261 $209