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Guarantee of Registered Securities | 3 Months Ended
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Mar. 31, 2016
Guarantee of Registered Securities [Abstract] |
Guarantee of Registered Securities | Guarantee of Registered Securities As described in Note 14, in connection with the Redomestication, Aon plc entered into various agreements pursuant to which it agreed to guarantee the obligations of Aon Corporation arising under issued and outstanding debt securities, including the 3.125% Notes due May 2016, the 5.00% Notes due September 2020, the 8.205% Notes due January 2027 and the 6.25% Notes due September 2040. Aon Corporation is a 100% indirectly owned subsidiary of Aon plc. All guarantees of Aon plc are full and unconditional. There are no other subsidiaries of Aon plc that are guarantors of the debt. In addition, Aon Corporation entered into an agreement pursuant to which it agreed to guarantee the obligations of Aon plc arising under the 4.250% Notes due 2042 exchanged for Aon Corporation's outstanding 8.205% Notes due January 2027 and also agreed to guarantee the obligations of Aon plc arising under the 2.8% Notes due 2021, the 4.45% Notes due 2043, the 4.00% Notes due November 2023, the 2.875% Notes due May 2026, the 3.50% Notes due June 2024, the 4.60% Notes due June 2044, the 4.75% Notes due May 2045, and the 3.875% Notes due December 2025. In each case, the guarantee of Aon Corporation is full and unconditional. There are no subsidiaries of Aon plc, other than Aon Corporation, that are guarantors of the 4.250% Notes due 2042, the 4.45% Notes due 2043, the 4.00% Notes due 2023, the 2.875% Notes due 2026, the 3.50% Notes due 2024, the 4.60% Notes due 2044, or the 4.75% Notes due 2045. As a result of the existence of these guarantees, the Company is required by Rule 3-10 of Regulation S-X to present the financial information set forth in this footnote. The following tables set forth condensed consolidating statements of income for the three months ended March 31, 2016 and 2015, condensed consolidating statements of comprehensive income for the three months ended March 31, 2016 and 2015, condensed consolidating statements of financial position as of March 31, 2016 and December 31, 2015, and condensed consolidating statements of cash flows for the three months ended March 31, 2016 and 2015 in accordance with Rule 3-10 of Regulation S-X. The condensed consolidating financial information includes the accounts of Aon plc, the accounts of Aon Corporation, and the combined accounts of the non-guarantor subsidiaries. The condensed consolidating financial statements are presented in all periods as a merger under common control, with Aon plc presented as the parent company in all periods prior and subsequent to the Redomestication. The principal consolidating adjustments are to eliminate the investment in subsidiaries and intercompany balances and transactions. In January 2015, Aon plc transferred its ownership of all of its directly held subsidiaries to Aon Global Holdings Limited, an intermediate holding company. The financial results of Aon Global Holdings Limited are included in the Other Non-Guarantor Subsidiaries column of the Condensed Consolidating Financial Statements. The Company has reflected the transfer of Aon Corporation from Aon plc to Aon Global Holdings Limited below for all periods presented. Condensed Consolidating Statement of Income
|  | Three months ended March 31, 2016
|  |  |  |  |  | Other |  |  |  |
|  | Aon |  | Aon |  | Non-Guarantor |  | Consolidating |  |
(millions) |  | plc |  | Corporation |  | Subsidiaries |  | Adjustments |  | Consolidated
Revenue |  |  |  |  |  |  |  |  |  |
Commissions, fees and other |  | $ | — |  |  | $ | — |  |  | $ | 2,787 |  |  | $ | — |  |  | $ | 2,787 |
Fiduciary investment income |  | — |  |  | — |  |  | 5 |  |  | — |  |  | 5 |
Total revenue |  | — |  |  | — |  |  | 2,792 |  |  | — |  |  | 2,792 |
Expenses |  |  |  |  |  |  |  |  |  |
Compensation and benefits |  | 43 |  |  | 3 |  |  | 1,603 |  |  | — |  |  | 1,649 |
Other general expenses |  | 7 |  |  | 2 |  |  | 684 |  |  | — |  |  | 693 |
Total operating expenses |  | 50 |  |  | 5 |  |  | 2,287 |  |  | — |  |  | 2,342 |
Operating (loss) income |  | (50 | ) |  | (5 | ) |  | 505 |  |  | — |  |  | 450 |
Interest income |  | (7 | ) |  | 5 |  |  | 4 |  |  | — |  |  | 2 |
Interest expense |  | (38 | ) |  | (28 | ) |  | (3 | ) |  | — |  |  | (69 | )
Intercompany interest income (expense) |  | 4 |  |  | (133 | ) |  | 129 |  |  | — |  |  | — |
Intercompany other (expense) income |  | (54 | ) |  | 1 |  |  | 53 |  |  | — |  |  | — |
Other income |  | — |  |  | (5 | ) |  | 23 |  |  | — |  |  | 18 |
(Loss) income before taxes |  | (145 | ) |  | (165 | ) |  | 711 |  |  | — |  |  | 401 |
Income tax (benefit) expense |  | (26 | ) |  | (62 | ) |  | 162 |  |  | — |  |  | 74 |
(Loss) income before equity in earnings of subsidiaries |  | (119 | ) |  | (103 | ) |  | 549 |  |  | — |  |  | 327 |
Equity in earnings of subsidiaries, net of tax |  | 434 |  |  | 367 |  |  | 264 |  |  | (1,065 | ) |  | — |
Net income |  | 315 |  |  | 264 |  |  | 813 |  |  | (1,065 | ) |  | 327 |
Less: Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | 12 |  |  | — |  |  | 12 |
Net income attributable to Aon shareholders |  | $ | 315 |  |  | $ | 264 |  |  | $ | 801 |  |  | $ | (1,065 | ) |  | $ | 315 |
Condensed Consolidating Statement of Income
|  | Three months ended March 31, 2015
|  |  |  |  |  | Other |  |  |  |
|  | Aon |  | Aon |  | Non-Guarantor |  | Consolidating |  |
(millions) |  | plc |  | Corporation |  | Subsidiaries |  | Adjustments |  | Consolidated
Revenue |  |  |  |  |  |  |  |  |  |
Commissions, fees and other |  | $ | — |  |  | $ | — |  |  | $ | 2,842 |  |  | $ | — |  |  | $ | 2,842 |
Fiduciary investment income |  | — |  |  | — |  |  | 5 |  |  | — |  |  | 5 |
Total revenue |  | — |  |  | — |  |  | 2,847 |  |  | — |  |  | 2,847 |
Expenses |  |  |  |  |  |  |  |  |  |
Compensation and benefits |  | 52 |  |  | 11 |  |  | 1,620 |  |  | — |  |  | 1,683 |
Other general expenses |  | 13 |  |  | 2 |  |  | 708 |  |  | — |  |  | 723 |
Total operating expenses |  | 65 |  |  | 13 |  |  | 2,328 |  |  | — |  |  | 2,406 |
Operating (loss) income |  | (65 | ) |  | (13 | ) |  | 519 |  |  | — |  |  | 441 |
Interest income |  | (5 | ) |  | 3 |  |  | 5 |  |  | — |  |  | 3 |
Interest expense |  | (25 | ) |  | (34 | ) |  | (6 | ) |  | — |  |  | (65 | )
Intercompany interest income (expense) |  | 119 |  |  | (105 | ) |  | (14 | ) |  | — |  |  | — |
Intercompany other (expense) income |  | (50 | ) |  | (8 | ) |  | 58 |  |  | — |  |  | — |
Other income |  | 2 |  |  | 8 |  |  | 32 |  |  | — |  |  | 42 |
Income (loss) before taxes |  | (24 | ) |  | (149 | ) |  | 594 |  |  | — |  |  | 421 |
Income tax expense (benefit) |  | (5 | ) |  | (50 | ) |  | 135 |  |  | — |  |  | 80 |
Income (loss) before equity in earnings of subsidiaries |  | (19 | ) |  | (99 | ) |  | 459 |  |  | — |  |  | 341 |
Equity in earnings of subsidiaries, net of tax |  | 347 |  |  | 403 |  |  | 304 |  |  | (1,054 | ) |  | — |
Net income |  | 328 |  |  | 304 |  |  | 763 |  |  | (1,054 | ) |  | 341 |
Less: Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | 13 |  |  | — |  |  | 13 |
Net income attributable to Aon shareholders |  | $ | 328 |  |  | $ | 304 |  |  | $ | 750 |  |  | $ | (1,054 | ) |  | $ | 328 |
Condensed Consolidating Statement of Comprehensive Income
|  | Three months ended March 31, 2016
|  |  |  |  |  | Other |  |  |  |
|  | Aon |  | Aon |  | Non-Guarantor |  | Consolidating |  |
(millions) |  | plc |  | Corporation |  | Subsidiaries |  | Adjustments |  | Consolidated
Net income |  | $ | 315 |  |  | $ | 264 |  |  | $ | 813 |  |  | $ | (1,065 | ) |  | $ | 327 |
Less: Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | 12 |  |  | — |  |  | 12 |
Net income attributable to Aon shareholders |  | $ | 315 |  |  | $ | 264 |  |  | $ | 801 |  |  | $ | (1,065 | ) |  | $ | 315 |
Other comprehensive (loss) income, net of tax: |  |  |  |  |  |  |  |  |  |
Change in fair value of financial instruments |  | — |  |  | (2 | ) |  | (5 | ) |  | — |  |  | (7 | )
Foreign currency translation adjustments |  | — |  |  | 11 |  |  | (90 | ) |  | — |  |  | (79 | )
Post-retirement benefit obligation |  | — |  |  | 13 |  |  | (214 | ) |  | — |  |  | (201 | )
Total other comprehensive loss |  | — |  |  | 22 |  |  | (309 | ) |  | — |  |  | (287 | )
Equity in other comprehensive loss of subsidiaries, net of tax |  | (287 | ) |  | (314 | ) |  | (292 | ) |  | 893 |  |  | — |
Less: Other comprehensive income attributable to noncontrolling interests |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total other comprehensive loss attributable to Aon shareholders |  | (287 | ) |  | (292 | ) |  | (601 | ) |  | 893 |  |  | (287 | )
Comprehensive income attributable to Aon shareholders |  | $ | 28 |  |  | $ | (28 | ) |  | $ | 200 |  |  | $ | (172 | ) |  | $ | 28 |
Condensed Consolidating Statement of Comprehensive Income
|  | Three months ended March 31, 2015
|  |  |  |  |  | Other |  |  |  |
|  | Aon |  | Aon |  | Non-Guarantor |  | Consolidating |  |
(millions) |  | plc |  | Corporation |  | Subsidiaries |  | Adjustments |  | Consolidated
Net income |  | $ | 328 |  |  | $ | 304 |  |  | $ | 763 |  |  | $ | (1,054 | ) |  | $ | 341 |
Less: Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | 13 |  |  | — |  |  | 13 |
Net income attributable to Aon shareholders |  | $ | 328 |  |  | $ | 304 |  |  | $ | 750 |  |  | $ | (1,054 | ) |  | $ | 328 |
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |
Change in fair value of financial instruments |  | — |  |  | (1 | ) |  | 6 |  |  | — |  |  | 5 |
Foreign currency translation adjustments |  | — |  |  | (23 | ) |  | (299 | ) |  | — |  |  | (322 | )
Post-retirement benefit obligation |  | — |  |  | 8 |  |  | 15 |  |  | — |  |  | 23 |
Total other comprehensive (loss) income |  | — |  |  | (16 | ) |  | (278 | ) |  | — |  |  | (294 | )
Equity in other comprehensive income of subsidiaries, net of tax |  | (293 | ) |  | (267 | ) |  | (283 | ) |  | 843 |  |  | — |
Less: Other comprehensive income attributable to noncontrolling interests |  | — |  |  | — |  |  | (1 | ) |  | — |  |  | (1 | )
Total other comprehensive income attributable to Aon shareholders |  | (293 | ) |  | (283 | ) |  | (560 | ) |  | 843 |  |  | (293 | )
Comprehensive income attributable to Aon Shareholders |  | $ | 35 |  |  | $ | 21 |  |  | $ | 190 |  |  | $ | (211 | ) |  | $ | 35 |
Condensed Consolidating Statement of Financial Position
|  | As of March 31, 2016
|  |  |  |  |  | Other |  |  |  |
|  | Aon |  | Aon |  | Non-Guarantor |  | Consolidating |  |
(millions) |  | plc |  | Corporation |  | Subsidiaries |  | Adjustments |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  |  | $ | 1,537 |  |  | $ | 1,457 |  |  | $ | (2,529 | ) |  | $ | 465 |
Short-term investments |  | — |  |  | 453 |  |  | 134 |  |  | — |  |  | 587 |
Receivables, net |  | 2 |  |  | — |  |  | 2,589 |  |  | — |  |  | 2,591 |
Fiduciary assets |  | — |  |  | — |  |  | 9,776 |  |  | — |  |  | 9,776 |
Intercompany receivables |  | 43 |  |  | 3,786 |  |  | 8,759 |  |  | (12,588 | ) |  | — |
Other current assets |  | — |  |  | 206 |  |  | 418 |  |  | (2 | ) |  | 622 |
Total Current Assets |  | 45 |  |  | 5,982 |  |  | 23,133 |  |  | (15,119 | ) |  | 14,041 |
Goodwill |  | — |  |  | — |  |  | 8,411 |  |  | — |  |  | 8,411 |
Intangible assets, net |  | — |  |  | — |  |  | 2,108 |  |  | — |  |  | 2,108 |
Fixed assets, net |  | — |  |  | — |  |  | 766 |  |  | — |  |  | 766 |
Non-current deferred tax assets |  | 154 |  |  | 556 |  |  | 137 |  |  | (676 | ) |  | 171 |
Intercompany receivables |  | 379 |  |  | 537 |  |  | 8,716 |  |  | (9,632 | ) |  | — |
Prepaid pension |  | — |  |  | 6 |  |  | 731 |  |  | — |  |  | 737 |
Other non-current assets |  | — |  |  | 114 |  |  | 465 |  |  | — |  |  | 579 |
Investment in subsidiary |  | 11,949 |  |  | 16,643 |  |  | 239 |  |  | (28,831 | ) |  | — |
TOTAL ASSETS |  | $ | 12,527 |  |  | $ | 23,838 |  |  | $ | 44,706 |  |  | $ | (54,258 | ) |  | $ | 26,813 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities |  | $ | 2,624 |  |  | $ | 22 |  |  | $ | 1,303 |  |  | $ | (2,529 | ) |  | $ | 1,420 |
Short-term debt and current portion of long-term debt |  | 184 |  |  | 500 |  |  | 11 |  |  | — |  |  | 695 |
Fiduciary liabilities |  | — |  |  | — |  |  | 9,776 |  |  | — |  |  | 9,776 |
Intercompany payables |  | 141 |  |  | 11,365 |  |  | 1,082 |  |  | (12,588 | ) |  | — |
Other current liabilities |  | 85 |  |  | 60 |  |  | 759 |  |  | (2 | ) |  | 902 |
Total Current Liabilities |  | 3,034 |  |  | 11,947 |  |  | 12,931 |  |  | (15,119 | ) |  | 12,793 |
Long-term debt |  | 4,206 |  |  | 1,413 |  |  | 283 |  |  | — |  |  | 5,902 |
Non-current deferred tax liabilities |  | — |  |  | — |  |  | 853 |  |  | (676 | ) |  | 177 |
Pension, other post-retirement and other post-employment liabilities |  | — |  |  | 1,295 |  |  | 461 |  |  | — |  |  | 1,756 |
Intercompany payables |  | — |  |  | 8,881 |  |  | 751 |  |  | (9,632 | ) |  | — |
Other non-current liabilities |  | 6 |  |  | 63 |  |  | 769 |  |  | — |  |  | 838 |
TOTAL LIABILITIES |  | 7,246 |  |  | 23,599 |  |  | 16,048 |  |  | (25,427 | ) |  | 21,466 |
TOTAL AON SHAREHOLDERS' EQUITY |  | 5,281 |  |  | 239 |  |  | 28,592 |  |  | (28,831 | ) |  | 5,281 |
Noncontrolling interests |  | — |  |  | — |  |  | 66 |  |  | — |  |  | 66 |
TOTAL EQUITY |  | 5,281 |  |  | 239 |  |  | 28,658 |  |  | (28,831 | ) |  | 5,347 |
TOTAL LIABILITIES AND EQUITY |  | $ | 12,527 |  |  | $ | 23,838 |  |  | $ | 44,706 |  |  | $ | (54,258 | ) |  | $ | 26,813 |
Condensed Consolidating Statement of Financial Position
|  | As of December 31, 2015
|  |  |  |  |  | Other |  |  |  |
|  | Aon |  | Aon |  | Non-Guarantor |  | Consolidating |  |
(millions) |  | plc |  | Corporation |  | Subsidiaries |  | Adjustments |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  |  | $ | 2,083 |  |  | $ | 1,242 |  |  | $ | (2,941 | ) |  | $ | 384 |
Short-term investments |  | — |  |  | 209 |  |  | 147 |  |  | — |  |  | 356 |
Receivables, net |  | 1 |  |  | — |  |  | 2,733 |  |  | — |  |  | 2,734 |
Fiduciary assets |  | — |  |  | — |  |  | 9,932 |  |  | — |  |  | 9,932 |
Intercompany receivables |  | 432 |  |  | 1,950 |  |  | 7,957 |  |  | (10,339 | ) |  | — |
Other current assets |  | — |  |  | 217 |  |  | 347 |  |  | (2 | ) |  | 562 |
Total Current Assets |  | 433 |  |  | 4,459 |  |  | 22,358 |  |  | (13,282 | ) |  | 13,968 |
Goodwill |  | — |  |  | — |  |  | 8,448 |  |  | — |  |  | 8,448 |
Intangible assets, net |  | — |  |  | — |  |  | 2,180 |  |  | — |  |  | 2,180 |
Fixed assets, net |  | — |  |  | — |  |  | 765 |  |  | — |  |  | 765 |
Intercompany receivables |  | 375 |  |  | 526 |  |  | 8,633 |  |  | (9,534 | ) |  | — |
Non-current deferred tax assets |  | 154 |  |  | 558 |  |  | 107 |  |  | (678 | ) |  | 141 |
Prepaid pension |  | — |  |  | 6 |  |  | 1,027 |  |  | — |  |  | 1,033 |
Other non-current assets |  | — |  |  | 119 |  |  | 557 |  |  | (84 | ) |  | 592 |
Investment in subsidiary |  | 11,804 |  |  | 16,534 |  |  | 369 |  |  | (28,707 | ) |  | — |
TOTAL ASSETS |  | $ | 12,766 |  |  | $ | 22,202 |  |  | $ | 44,444 |  |  | $ | (52,285 | ) |  | $ | 27,127 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities |  | $ | 2,988 |  |  | $ | 45 |  |  | $ | 1,680 |  |  | $ | (2,941 | ) |  | $ | 1,772 |
Short-term debt and current portion of long-term debt |  | — |  |  | 550 |  |  | 12 |  |  | — |  |  | 562 |
Fiduciary liabilities |  | — |  |  | — |  |  | 9,932 |  |  | — |  |  | 9,932 |
Intercompany payables |  | 167 |  |  | 9,518 |  |  | 654 |  |  | (10,339 | ) |  | — |
Other current liabilities |  | 47 |  |  | 56 |  |  | 720 |  |  | (3 | ) |  | 820 |
Total Current Liabilities |  | 3,202 |  |  | 10,169 |  |  | 12,998 |  |  | (13,283 | ) |  | 13,086 |
Long-term debt |  | 3,451 |  |  | 1,412 |  |  | 275 |  |  | — |  |  | 5,138 |
Non-current deferred tax liabilities |  | — |  |  | — |  |  | 854 |  |  | (678 | ) |  | 176 |
Pension, other post-retirement and other post-employment liabilities |  | — |  |  | 1,313 |  |  | 482 |  |  | — |  |  | 1,795 |
Intercompany payables |  | — |  |  | 8,799 |  |  | 735 |  |  | (9,534 | ) |  | — |
Other non-current liabilities |  | 7 |  |  | 140 |  |  | 705 |  |  | (83 | ) |  | 769 |
TOTAL LIABILITIES |  | 6,660 |  |  | 21,833 |  |  | 16,049 |  |  | (23,578 | ) |  | 20,964 |
TOTAL AON SHAREHOLDERS' EQUITY |  | 6,106 |  |  | 369 |  |  | 28,338 |  |  | (28,707 | ) |  | 6,106 |
Noncontrolling interests |  | — |  |  | — |  |  | 57 |  |  | — |  |  | 57 |
TOTAL EQUITY |  | 6,106 |  |  | 369 |  |  | 28,395 |  |  | (28,707 | ) |  | 6,163 |
TOTAL LIABILITIES AND EQUITY |  | $ | 12,766 |  |  | $ | 22,202 |  |  | $ | 44,444 |  |  | $ | (52,285 | ) |  | $ | 27,127 |
Condensed Consolidating Statement of Cash Flows
|  | Three months ended March 31, 2016
|  | Aon |  | Aon |  | Other Non-Guarantor |  | Consolidating |  |
(millions) |  | plc |  | Corporation |  | Subsidiaries |  | Adjustments |  | Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES |  | $ | (47 | ) |  | $ | (37 | ) |  | $ | 357 |  |  | $ | — |  |  | $ | 273 |
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |
Proceeds from investments |  | — |  |  | 9 |  |  | 4 |  |  | — |  |  | 13 |
Purchases of investments |  | — |  |  | (5 | ) |  | (9 | ) |  | — |  |  | (14 | )
Net (purchases) sales of short-term investments - non-fiduciary |  | — |  |  | (244 | ) |  | 17 |  |  | — |  |  | (227 | )
Acquisition of businesses, net of cash acquired |  | — |  |  | — |  |  | (16 | ) |  | — |  |  | (16 | )
Proceeds from sale of businesses |  | — |  |  | — |  |  | 97 |  |  | — |  |  | 97 |
Capital expenditures |  | — |  |  | — |  |  | (52 | ) |  | — |  |  | (52 | )
CASH PROVIDED BY (USED FOR) INVESTING ACTIVITIES |  | — |  |  | (240 | ) |  | 41 |  |  | — |  |  | (199 | )
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |
Share repurchase |  | (685 | ) |  | — |  |  | — |  |  | — |  |  | (685 | )
Advances from (to) affiliates |  | (46 | ) |  | (219 | ) |  | (147 | ) |  | 412 |  |  | — |
Issuance of shares for employee benefit plans |  | (64 | ) |  | — |  |  | (1 | ) |  | — |  |  | (65 | )
Issuance of debt |  | 996 |  |  | 50 |  |  | (1 | ) |  | — |  |  | 1,045 |
Repayment of debt |  | (72 | ) |  | (100 | ) |  | (3 | ) |  | — |  |  | (175 | )
Cash dividends to shareholders |  | (82 | ) |  | — |  |  | — |  |  | — |  |  | (82 | )
Noncontrolling interests and other financing activities |  | — |  |  | — |  |  | (42 | ) |  | — |  |  | (42 | )
CASH (USED FOR) PROVIDED BY FINANCING ACTIVITIES |  | 47 |  |  | (269 | ) |  | (194 | ) |  | 412 |  |  | (4 | )
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS |  | — |  |  | — |  |  | 11 |  |  | — |  |  | 11 |
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS |  | — |  |  | (546 | ) |  | 215 |  |  | 412 |  |  | 81 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR |  | — |  |  | 2,083 |  |  | 1,242 |  |  | (2,941 | ) |  | 384 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD |  | $ | — |  |  | $ | 1,537 |  |  | $ | 1,457 |  |  | $ | (2,529 | ) |  | $ | 465 |
Condensed Consolidating Statement of Cash Flows
|  | Three months ended March 31, 2015
|  |  |  |  |  | Other |  |  |  |
|  | Aon |  | Aon |  | Non-Guarantor |  | Consolidating |  |
(millions) |  | plc |  | Corporation |  | Subsidiaries |  | Adjustments |  | Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES |  | $ | 164 |  |  | $ | (188 | ) |  | $ | 322 |  |  | $ | — |  |  | $ | 298 |
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |
Proceeds from investments |  | — |  |  | — |  |  | 3 |  |  | — |  |  | 3 |
Purchases of investments |  | — |  |  | (1 | ) |  | — |  |  | — |  |  | (1 | )
Net (purchases) sales of short-term investments - non-fiduciary |  | — |  |  | (1 | ) |  | 43 |  |  | — |  |  | 42 |
Acquisition of businesses, net of cash acquired |  | — |  |  | — |  |  | (21 | ) |  | — |  |  | (21 | )
Proceeds from sale of businesses |  | — |  |  | — |  |  | 41 |  |  | — |  |  | 41 |
Capital expenditures |  | — |  |  | — |  |  | (62 | ) |  | — |  |  | (62 | )
CASH PROVIDED BY INVESTING ACTIVITIES |  | — |  |  | (2 | ) |  | 4 |  |  | — |  |  | 2 |
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |
Share repurchase |  | (250 | ) |  | — |  |  | — |  |  | — |  |  | (250 | )
Advances from (to) affiliates |  | 157 |  |  | (385 | ) |  | (984 | ) |  | 1,212 |  |  | — |
Issuance of shares for employee benefit plans |  | (114 | ) |  | — |  |  | — |  |  | — |  |  | (114 | )
Issuance of debt |  | 114 |  |  | 756 |  |  | — |  |  | — |  |  | 870 |
Repayment of debt |  | — |  |  | (678 | ) |  | (8 | ) |  | — |  |  | (686 | )
Cash dividends to shareholders |  | (71 | ) |  | — |  |  | — |  |  | — |  |  | (71 | )
Noncontrolling interests and other financing activities |  | — |  |  | — |  |  | (6 | ) |  | — |  |  | (6 | )
CASH (USED FOR) PROVIDED BY FINANCING ACTIVITIES |  | (164 | ) |  | (307 | ) |  | (998 | ) |  | 1,212 |  |  | (257 | )
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS |  | — |  |  | — |  |  | (39 | ) |  | — |  |  | (39 | )
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS |  | — |  |  | (497 | ) |  | (711 | ) |  | 1,212 |  |  | 4 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR |  | — |  |  | 2,727 |  |  | 1,361 |  |  | (3,714 | ) |  | 374 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD |  | $ | — |  |  | $ | 2,230 |  |  | $ | 650 |  |  | $ | (2,502 | ) |  | $ | 378 |

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- Definition The entire disclosure for condensed financial statements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=18733093&loc=d3e5614-111684 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 10 -Paragraph f -Article 3 + Details
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