v2.4.0.6

Segment Information | 12 Months Ended
--- | ---
Dec. 31, 2011
Segment Information |
Segment Information |
18. Segment Information The Company has two reportable operating segments: Risk Solutions and HR Solutions. Unallocated income and expenses, when combined with the operating segments and after the elimination of intersegment revenues and expenses, total to the amounts in the Consolidated Financial Statements. Reportable operating segments have been determined using a management approach, which is consistent with the basis and manner in which Aon's chief operating decision maker ("CODM") uses financial information for the purposes of allocating resources and assessing performance. The CODM assesses performance based on operating segment operating income and generally accounts for intersegment revenue as if the revenue were from third parties and at what management believes are current market prices. The Company does not present net assets by segment as this information is not reviewed by the CODM. Risk Solutions acts as an advisor and insurance and reinsurance broker, helping clients manage their risks, via consultation, as well as negotiation and placement of insurance risk with insurance carriers through Aon's global distribution network. HR Solutions partners with organizations to solve their most complex benefits, talent and related financial challenges, and improve business performance by designing, implementing, communicating and administering a wide range of human capital, retirement, investment management, health care, compensation and talent management strategies. Aon's total revenue is as follows (in millions):
Years ended December 31 |  | 2011 |  | 2010 |  | 2009 |
--- | --- | --- | --- | --- | --- | --- | ---
Risk Solutions |  | $ | 6,817 |  | $ | 6,423 |  | $ | 6,305 |
HR Solutions |  |  | 4,501 |  |  | 2,111 |  |  | 1,267 |
Intersegment elimination |  |  | (31 | ) |  | (22 | ) |  | (26 | )
Total operating segments |  |  | 11,287 |  |  | 8,512 |  |  | 7,546 |
Unallocated |  |  | — |  |  | — |  |  | 49 |
Total revenue |  | $ | 11,287 |  | $ | 8,512 |  | $ | 7,595 |
Commissions, fees and other revenues by product are as follows (in millions):
Years ended December 31 |  | 2011 |  | 2010 |  | 2009 |
--- | --- | --- | --- | --- | --- | --- | ---
Retail brokerage |  | $ | 5,303 |  | $ | 4,925 |  | $ | 4,747 |
Reinsurance brokerage |  |  | 1,463 |  |  | 1,444 |  |  | 1,485 |
Total Risk Solutions Segment |  |  | 6,766 |  |  | 6,369 |  |  | 6,232 |
Consulting services |  |  | 2,251 |  |  | 1,387 |  |  | 1,075 |
Outsourcing |  |  | 2,272 |  |  | 731 |  |  | 191 |
Intrasegment |  |  | (23 | ) |  | (8 | ) |  | — |
Total HR Solutions Segment |  |  | 4,500 |  |  | 2,110 |  |  | 1,266 |
Intersegment |  |  | (31 | ) |  | (22 | ) |  | (26 | )
Unallocated |  |  | — |  |  | — |  |  | 49 |
Total commissions, fees and other revenues |  | $ | 11,235 |  | $ | 8,457 |  | $ | 7,521 |
Fiduciary investment income by segment is as follows (in millions):
Years ended December 31 |  | 2011 |  | 2010 |  | 2009 |
--- | --- | --- | --- | --- | --- | --- | ---
Risk Solutions |  | $ | 51 |  | $ | 54 |  | $ | 73 |
HR Solutions |  |  | 1 |  |  | 1 |  |  | 1 |
Total fiduciary investment income |  | $ | 52 |  | $ | 55 |  | $ | 74 |
A reconciliation of segment operating income before tax to income from continuing operations before income taxes is as follows (in millions):
Years ended December 31 |  | 2011 |  | 2010 |  | 2009 |
--- | --- | --- | --- | --- | --- | --- | ---
Risk Solutions |  | $ | 1,314 |  | $ | 1,194 |  | $ | 900 |
HR Solutions |  |  | 448 |  |  | 234 |  |  | 203 |
Segment income from continuing operations before income taxes |  |  | 1,762 |  |  | 1,428 |  |  | 1,103 |
Unallocated revenue |  |  | — |  |  | — |  |  | 49 |
Unallocated expenses |  |  | (156 | ) |  | (202 | ) |  | (131 | )
Interest income |  |  | 18 |  |  | 15 |  |  | 16 |
Interest expense |  |  | (245 | ) |  | (182 | ) |  | (122 | )
Other income |  |  | 5 |  |  | — |  |  | 34 |
Income from continuing operations before income taxes |  | $ | 1,384 |  | $ | 1,059 |  | $ | 949 |
Unallocated revenue consists primarily of revenue from the Company's ownership in investments. Unallocated expenses include administrative or other costs not attributable to the operating segments, such as corporate governance costs and the costs associated with corporate investments. Interest income represents income earned primarily on operating cash balances and miscellaneous income producing securities. Interest expense represents the cost of worldwide debt obligations. Other income primarily consists of equity earnings and realized gains (losses) on the sale of investments, disposal of businesses and extinguishment of debt. Revenues are generally attributed to geographic areas based on the location of the resources producing the revenues. Intercompany revenues and expenses are eliminated in consolidated results. Consolidated revenue by geographic area is as follows (in millions):
Years ended December 31 |  | Total |  | United States |  | Americas other than U.S. |  | United Kingdom |  | Europe, Middle East, & Africa |  | Asia Pacific |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
2011 |  | $ | 11,287 |  | $ | 5,134 |  | $ | 1,176 |  | $ | 1,519 |  | $ | 2,377 |  | $ | 1,081 |
2010 |  |  | 8,512 |  |  | 3,400 |  |  | 978 |  |  | 1,322 |  |  | 2,035 |  |  | 777 |
2009 |  |  | 7,595 |  |  | 2,789 |  |  | 905 |  |  | 1,289 |  |  | 1,965 |  |  | 647 |
Consolidated non-current assets by geographic area are as follows (in millions):
Years ended December 31 |  | Total |  | United States |  | Americas other than U.S. |  | United Kingdom |  | Europe, Middle East, & Africa |  | Asia Pacific |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
2011 |  | $ | 13,789 |  | $ | 8,617 |  | $ | 574 |  | $ | 1,589 |  | $ | 2,448 |  | $ | 561 |
2010 |  |  | 14,158 |  |  | 9,135 |  |  | 503 |  |  | 1,532 |  |  | 2,426 |  |  | 562 |
Effective January 1, 2012, the Company moved the global Aon Hewitt Health and Benefits consulting business from the HR Solutions segment to the Risk Solutions segment. The move will allow the business to benefit from a broader global distribution channel and to promote the Company's deep health and benefits capabilities in data and analytics with clients and insurance carriers. In addition to the disclosures required for the reportable segments as they existed at December 31, 2011, the Company has included the following disclosures reflecting the move of this business from HR Solutions to Risk Solutions below for all periods presented. Segment disclosures by geographic area are not impacted by this move. Aon's total revenue reflecting the move of the Health and Benefits consulting business from the HR Solutions segment to the Risk Solutions segment for all periods presented is as follows (in millions):
Years ended December 31 |  | 2011 |  | 2010 |  | 2009 |
--- | --- | --- | --- | --- | --- | --- | ---
Risk Solutions |  | $ | 7,537 |  | $ | 6,989 |  | $ | 6,835 |
HR Solutions |  |  | 3,781 |  |  | 1,545 |  |  | 737 |
Intersegment elimination |  |  | (31 | ) |  | (22 | ) |  | (26 | )
Total operating segments |  |  | 11,287 |  |  | 8,512 |  |  | 7,546 |
Unallocated |  |  | — |  |  | — |  |  | 49 |
Total revenue |  | $ | 11,287 |  | $ | 8,512 |  | $ | 7,595 |
Aon's total commissions, fees and other revenues by product reflecting the move of the Health and Benefits consulting business from the HR Solutions segment to the Risk Solutions segment for all periods presented is as follows (in millions):
Years ended December 31 |  | 2011 |  | 2010 |  | 2009 |
--- | --- | --- | --- | --- | --- | --- | ---
Retail brokerage |  | $ | 6,022 |  | $ | 5,491 |  | $ | 5,277 |
Reinsurance brokerage |  |  | 1,463 |  |  | 1,444 |  |  | 1,485 |
Total Risk Solutions Segment |  |  | 7,485 |  |  | 6,935 |  |  | 6,762 |
Consulting services |  |  | 1,532 |  |  | 821 |  |  | 545 |
Outsourcing |  |  | 2,272 |  |  | 731 |  |  | 191 |
Intrasegment |  |  | (23 | ) |  | (8 | ) |  | — |
Total HR Solutions Segment |  |  | 3,781 |  |  | 1,544 |  |  | 736 |
Intersegment |  |  | (31 | ) |  | (22 | ) |  | (26 | )
Unallocated |  |  | — |  |  | — |  |  | 49 |
Total commissions, fees and other revenue |  | $ | 11,235 |  | $ | 8,457 |  | $ | 7,521 |
Aon's fiduciary investment income by segment reflecting the move of the Health and Benefits consulting business from the HR Solutions segment to the Risk Solutions segment for all periods presented is as follows (in millions):
Years ended December 31 |  | 2011 |  | 2010 |  | 2009 |
--- | --- | --- | --- | --- | --- | --- | ---
Risk Solutions |  | $ | 52 |  | $ | 54 |  | $ | 73 |
HR Solutions |  |  | — |  |  | 1 |  |  | 1 |
Total fiduciary investment income |  | $ | 52 |  | $ | 55 |  | $ | 74 |
A reconciliation of segment operating income before tax to income from continuing operations before income taxes reflecting the move of the Health and Benefits consulting business from the HR Solutions segment to the Risk Solutions segment for all periods presented is as follows (in millions):
Years ended December 31 |  | 2011 |  | 2010 |  | 2009 |
--- | --- | --- | --- | --- | --- | --- | ---
Risk Solutions |  | $ | 1,414 |  | $ | 1,307 |  | $ | 1,003 |
HR Solutions |  |  | 348 |  |  | 121 |  |  | 100 |
Segment income from continuing operations before income taxes |  |  | 1,762 |  |  | 1,428 |  |  | 1,103 |
Unallocated revenue |  |  | — |  |  | — |  |  | 49 |
Unallocated expenses |  |  | (156 | ) |  | (202 | ) |  | (131 | )
Interest income |  |  | 18 |  |  | 15 |  |  | 16 |
Interest expense |  |  | (245 | ) |  | (182 | ) |  | (122 | )
Other income |  |  | 5 |  |  | — |  |  | 34 |
Income from continuing operations before income taxes |  | $ | 1,384 |  | $ | 1,059 |  | $ | 949 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 + Details
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