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Acquisitions and Dispositions (Tables) | 6 Months Ended
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Jun. 30, 2020
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 2020 based on the estimated fair values for the acquisitions as of their respective acquisition dates:
Acquisitions through June 30, 2020 |
(In millions) |
Cash | 576 |
Estimated fair value of deferred/contingent consideration | 161 |
Total consideration | $ | 737 |
Allocation of purchase price: |
Cash and cash equivalents | 14 |
Accounts receivable, net | 28 |
Fixed assets, net | 16 |
Other intangible assets | 277 |
Goodwill | 466 |
Deferred tax assets | (43 | )
Other assets | 8 |
Total assets acquired | 766 |
Current liabilities | 19 |
Other liabilities | 10 |
Total liabilities assumed | 29 |
Net assets acquired | $ | 737 |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class | The following chart provides information about intangible assets acquired during 2020:
Intangible assets through June 30, 2020 (In millions) |  | Amount |  | Weighted Average Amortization Period
Client relationships |  | $ | 255 |  |  | 13.3 years
Other |  | 22 |  |  | 4.5 years
|  | $ | 277 |  |  |
Pro-Forma Information | The following unaudited pro-forma financial data gives effect to the acquisitions made by the Company during 2020 and 2019. 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, 2019 and reflects acquisitions made in 2019 as if they occurred on January 1, 2018. 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 June 30, |  | Six Months Ended June 30,
(In millions, except per share figures) | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Revenue | $ | 4,189 |  |  | $ | 4,395 |  |  | $ | 8,891 |  |  | $ | 8,963 |
Net income attributable to the Company | $ | 574 |  |  | $ | 488 |  |  | $ | 1,328 |  |  | $ | 1,146 |
Basic net income per share attributable to the Company | $ | 1.13 |  |  | $ | 0.96 |  |  | $ | 2.63 |  |  | $ | 2.26 |
Diluted net income per share attributable to the Company | $ | 1.12 |  |  | $ | 0.95 |  |  | $ | 2.60 |  |  | $ | 2.24 |

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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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