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Acquisitions and Dispositions (Tables) | 9 Months Ended
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Sep. 30, 2019
Business Combinations [Abstract] |
Schedule For Allocation of Acquisition Costs | The following table presents the preliminary allocation of purchase consideration to the assets acquired and liabilities assumed during 2019 based on the estimated fair values for JLT and other acquisitions as of their respective acquisition dates:
Acquisitions through September 30, 2019 |  |  |
(In millions) | JLT | Other | Total Acquisitions
Cash | $ | 5,568 |  | $ | 291 |  | $ | 5,859 |
Estimated fair value of deferred/contingent consideration | — |  | 66 |  | 66 |
Total consideration | $ | 5,568 |  | $ | 357 |  | $ | 5,925 |
Allocation of purchase price: |  |  |
Cash and cash equivalents | $ | 353 |  | $ | 6 |  | $ | 359 |
Accounts receivable, net | 714 |  | 5 |  | 719 |
Other current assets | 143 |  | — |  | 143 |
Fixed assets, net | 89 |  | 2 |  | 91 |
Other intangible assets | 1,613 |  | 143 |  | 1,756 |
Goodwill | 4,761 |  | 201 |  | 4,962 |
Right of use assets | 382 |  | — |  | 382 |
Deferred tax assets | 65 |  | — |  | 65 |
Other assets | 493 |  | 8 |  | 501 |
Total assets acquired | 8,613 |  | 365 |  | 8,978 |
Current liabilities | 689 |  | 5 |  | 694 |
Fiduciary liabilities | 1,275 |  | — |  | 1,275 |
Less - fiduciary assets | (1,275 | ) | — |  | (1,275 | )
Long-term debt | 1,044 |  | — |  | 1,044 |
Long-term lease liability | 389 |  | — |  | 389 |
Pension, post-retirement and post-employment liabilities | 248 |  | — |  | 248 |
Liabilities for errors and omissions | 31 |  | — |  | 31 |
Other liabilities | 349 |  | 3 |  | 352 |
Total liabilities assumed | 2,750 |  | 8 |  | 2,758 |
Non controlling interests | 295 |  | — |  | 295 |
Net assets acquired | $ | 5,568 |  | $ | 357 |  | $ | 5,925 |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class | The following chart provides information about intangible assets acquired during 2019:
Intangible assets through September 30, 2019 (In millions) |  | JLT |  | Other |  | Total |  | JLT Weighted Average Amortization Period |  | Other Weighted Average Amortization Period
Client relationships |  | $ | 1,511 |  |  | $ | 136 |  |  | $ | 1,647 |  |  | 13 years |  | 12 years
Other |  | 102 |  |  | 7 |  |  | 109 |  |  | 4 years |  | 3 years
|  | $ | 1,613 |  |  | $ | 143 |  |  | $ | 1,756 |  |  |  |  |
Pro-Forma Information | The following unaudited pro-forma financial data gives effect to the acquisitions made by the Company during 2019 and 2018. In accordance with accounting guidance related to pro-forma disclosures, the information presented for current year acquisitions is as if they occurred on January 1, 2018 and reflects acquisitions made in 2018 as if they occurred on January 1, 2017. The unaudited pro-forma information adjusts for the effects of amortization of acquired intangibles and additional interest expense related to the issuance of debt related to the JLT Transaction. The unaudited pro-forma financial data is presented for illustrative purposes only and is not necessarily indicative of the operating results that would have been achieved if such acquisitions had occurred on the dates indicated, nor is it necessarily indicative of future consolidated results.
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(In millions, except per share figures) | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Revenue | $ | 3,967 |  |  | $ | 3,940 |  |  | $ | 12,830 |  |  | $ | 12,842 |
Net income attributable to the Company | $ | 306 |  |  | $ | 181 |  |  | $ | 1,445 |  |  | $ | 804 |
Basic net income per share attributable to the Company | $ | 0.61 |  |  | $ | 0.36 |  |  | $ | 2.85 |  |  | $ | 1.59 |
Diluted net income per share attributable to the Company | $ | 0.60 |  |  | $ | 0.36 |  |  | $ | 2.83 |  |  | $ | 1.57 |

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- Definition Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
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