XML 20 R39.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Derivatives and Hedging (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Notional and fair values of derivative instruments | The notional and fair values of derivative instruments are as follows (in millions):
| Notional Amount |  | Derivative Assets (1) |  | Derivative Liabilities (2)
As of December 31 | 2014 |  | 2013 |  | 2014 |  | 2013 |  | 2014 |  | 2013
Derivatives accounted for as hedges: |  |  |  |  |  |  |  |  |  |  |
Interest rate contracts | $ | — |  |  | $ | 171 |  |  | $ | — |  |  | $ | 9 |  |  | $ | — |  |  | $ | — |
Foreign exchange contracts | 1,200 |  |  | 1,191 |  |  | 46 |  |  | 71 |  |  | 58 |  |  | 93 |
Total | 1,200 |  |  | 1,362 |  |  | 46 |  |  | 80 |  |  | 58 |  |  | 93 |
Derivatives not accounted for as hedges: |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts (3) | 165 |  |  | 215 |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | 1,365 |  |  | $ | 1,577 |  |  | $ | 46 |  |  | $ | 80 |  |  | $ | 58 |  |  | $ | 93 |
(1) | Included within Other current assets ($24 million in 2014 and $46 million in 2013, respectively) or Other non-current assets ($22 million in 2014 and $34 million in 2013, respectively)
(2) | Included within Other current liabilities ($52 million in 2014 and $51 million in 2013, respectively) or Other non-current liabilities ($6 million in 2014 and $42 million in 2013, respectively)
(3) | These contracts typically are for 30 day durations and executed close to the last day of the most recent reporting month, thereby resulting in nominal fair values at the balance sheet date.
Offsetting of financial assets and derivatives assets are as follows (in millions):
| Gross Amounts of Recognized Assets |  | Gross Amounts Offset in the Statement of Financial Position |  | Net Amounts of Assets Presented in the Statement of Financial Position (1)
| 2014 |  | 2013 |  | 2014 |  | 2013 |  | 2014 |  | 2013
Derivatives accounted for as hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate contracts | $ | — |  |  | $ | 9 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 9 |
Foreign exchange contracts | 46 |  |  | 71 |  |  | (14 | ) |  | (30 | ) |  | 32 |  |  | 41 |
Total | 46 |  |  | 80 |  |  | (14 | ) |  | (30 | ) |  | 32 |  |  | 50 |
Derivatives not accounted for as hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | 46 |  |  | $ | 80 |  |  | $ | (14 | ) |  | $ | (30 | ) |  | $ | 32 |  |  | $ | 50 |
______________________________________________ (1) Included within Other current assets ($12 million in 2014 and $18 million in 2013, respectively) or Other non-current assets ($20 million in 2014 and $32 million in 2013, respectively) Offsetting of financial liabilities and derivative liabilities are as follows (in millions):
| Gross Amounts of Recognized Liabilities |  | Gross Amounts Offset in the Statement of Financial Position |  | Net Amounts of Liabilities Presented in the Statement of Financial Position (2)
| 2014 |  | 2013 |  | 2014 |  | 2013 |  | 2014 |  | 2013
Derivatives accounted for as hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate contracts | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Foreign exchange contracts | 58 |  |  | 93 |  |  | (14 | ) |  | (30 | ) |  | 44 |  |  | 63 |
Total | 58 |  |  | 93 |  |  | (14 | ) |  | (30 | ) |  | 44 |  |  | 63 |
Derivatives not accounted for as hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | 58 |  |  | $ | 93 |  |  | $ | (14 | ) |  | $ | (30 | ) |  | $ | 44 |  |  | $ | 63 |
______________________________________________ (2) Included within Other current liabilities ($40 million in 2014 and $23 million in 2013, respectively) or Other non-current liabilities ($4 million in 2014 and $40 million in 2013, respectively)
Derivative gains (losses) | The amounts of derivative gains (losses) recognized in the Consolidated Financial Statements are as follows (in millions):
Year Ended December 31, 2014 |  |
Gain (Loss) recognized in Accumulated Other Comprehensive Loss: |  | Compensation and Benefits |  | Other General Expenses |  | Interest Expense |  | Other Income |  | Total
Cash flow hedges: |  |  |  |  |  |  |  |  |  |
Interest rate contracts |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Foreign exchange contracts |  | 11 |  |  | (3 | ) |  | — |  |  | (10 | ) |  | (2 | )
Total |  | 11 |  |  | (3 | ) |  | — |  |  | (10 | ) |  | (2 | )
Year Ended December 31, 2013 |  |
Gain (Loss) recognized in Accumulated Other Comprehensive Loss: |  | Compensation and Benefits |  | Other General Expenses |  | Interest Expense |  | Other Income |  | Total
Cash flow hedges: |  |  |  |  |  |  |  |  |  |
Interest rate contracts |  | $ | — |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 2 |
Foreign exchange contracts |  | (17 | ) |  | — |  |  | — |  |  | 13 |  |  | (4 | )
Total |  | (17 | ) |  | — |  |  | 2 |  |  | 13 |  |  | (2 | )
Year Ended December 31, 2012 |  |
Gain (Loss) recognized in Accumulated Other Comprehensive Loss: |  | Compensation and Benefits |  | Other General Expenses |  | Interest Expense |  | Other Income |  | Total
Cash flow hedges: |  |  |  |  |  |  |  |  |  |
Interest rate contracts |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Foreign exchange contracts |  | (8 | ) |  | (19 | ) |  | — |  |  | 6 |  |  | (21 | )
Total |  | (8 | ) |  | (19 | ) |  | — |  |  | 6 |  |  | (21 | )
Foreign net investment hedges: |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 4 |  |  | $ | 4 |
Year Ended December 31, 2014 |  |
Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion): |  | Compensation and Benefits |  | Other General Expenses |  | Interest Expense |  | Other Income |  | Total
Cash flow hedges: |  |  |  |  |  |  |  |  |  |
Interest rate contracts |  | $ | — |  |  | $ | — |  |  | $ | (1 | ) |  | $ | — |  |  | $ | (1 | )
Foreign exchange contracts |  | (5 | ) |  | 3 |  |  | (10 | ) |  | (2 | ) |  | (14 | )
Total |  | (5 | ) |  | 3 |  |  | (11 | ) |  | (2 | ) |  | (15 | )
Year Ended December 31, 2013 |  |
Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion): |  | Compensation and Benefits |  | Other General Expenses |  | Interest Expense |  | Other Income |  | Total
Cash flow hedges: |  |  |  |  |  |  |  |  |  |
Interest rate contracts |  | $ | — |  |  | $ | — |  |  | $ | (1 | ) |  | $ | — |  |  | $ | (1 | )
Foreign exchange contracts |  | (12 | ) |  | (9 | ) |  | (3 | ) |  | 14 |  |  | (10 | )
Total |  | (12 | ) |  | (9 | ) |  | (4 | ) |  | 14 |  |  | (11 | )
Year Ended December 31, 2012 |  |
Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion): |  | Compensation and Benefits |  | Other General Expenses |  | Interest Expense |  | Other Income |  | Total
Cash flow hedges: |  |  |  |  |  |  |  |  |  |
Interest rate contracts |  | $ | — |  |  | $ | — |  |  | $ | (1 | ) |  | $ | — |  |  | $ | (1 | )
Foreign exchange contracts |  | (9 | ) |  | (16 | ) |  | — |  |  | (9 | ) |  | (34 | )
Total |  | (9 | ) |  | (16 | ) |  | (1 | ) |  | (9 | ) |  | (35 | )
The amount of gain (loss) recognized in the Consolidated Financial Statements is as follows (in millions):
| Twelve months ended December 31,
| Amount of Gain (Loss) Recognized in Income on Derivative (1) |  | Amount of Gain (Loss) Recognized in Income on Related Hedged Item
| 2014 |  | 2013 |  | 2012 |  | 2014 |  | 2013 |  | 2012
Fair value hedges: |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts (2) | $ | (9 | ) |  | $ | (8 | ) |  | $ | 1 |  |  | $ | 9 |  |  | $ | 8 |  |  | $ | (1 | )
(1) | Included in interest expense
(2) | Relates to fixed rate debt

X
- Definition Tabular disclosure of the notional amounts and fair values of outstanding derivative positions. + References No definition available. + Details
Name: | aon_ScheduleOfNotionalAmountsAndFairValuesOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix: | aon_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5618551-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration