XML 31 R17.htm IDEA: XBRL DOCUMENT
v3.5.0.2

Employee Benefits | 9 Months Ended
--- | ---
Sep. 30, 2016
Compensation and Retirement Disclosure [Abstract] |
Employee Benefits | Employee Benefits The following table provides the components of the net periodic (benefit) cost recognized in the Condensed Consolidated Statements of Income in Compensation and benefits for Aon's material U.K., U.S., and other significant international pension plans located in the Netherlands and Canada (in millions):
| Three months ended September 30,
| U.K. |  | U.S. |  | Other
| 2016 |  | 2015 |  | 2016 |  | 2015 |  | 2016 |  | 2015
Service cost | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest cost | 37 |  |  | 50 |  |  | 28 |  |  | 33 |  |  | 7 |  |  | 8 |
Expected return on plan assets, net of administration expenses | (58 | ) |  | (77 | ) |  | (39 | ) |  | (38 | ) |  | (12 | ) |  | (12 | )
Amortization of prior-service cost | — |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  | — |
Amortization of net actuarial loss | 7 |  |  | 11 |  |  | 12 |  |  | 14 |  |  | 3 |  |  | 2 |
Net periodic (benefit) cost | (14 | ) |  | (16 | ) |  | 2 |  |  | 9 |  |  | (2 | ) |  | (2 | )
Loss on pension settlement | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Curtailment gain and other | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total net periodic cost (benefit) | $ | (14 | ) |  | $ | (16 | ) |  | $ | 2 |  |  | $ | 9 |  |  | $ | (2 | ) |  | $ | (2 | )
| Nine months ended September 30,
| U.K. |  | U.S. |  | Other
| 2016 |  | 2015 |  | 2016 |  | 2015 |  | 2016 |  | 2015
Service cost | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | — |
Interest cost | 123 |  |  | 149 |  |  | 83 |  |  | 99 |  |  | 21 |  |  | 25 |
Expected return on plan assets, net of administration expenses | (187 | ) |  | (229 | ) |  | (117 | ) |  | (115 | ) |  | (36 | ) |  | (37 | )
Amortization of prior-service cost | 1 |  |  | — |  |  | 2 |  |  | — |  |  | — |  |  | — |
Amortization of net actuarial loss | 24 |  |  | 31 |  |  | 37 |  |  | 41 |  |  | 8 |  |  | 8 |
Net periodic (benefit) cost | (39 | ) |  | (49 | ) |  | 5 |  |  | 27 |  |  | (7 | ) |  | (4 | )
Loss on pension settlement | 61 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Curtailment gain and other | — |  |  | — |  |  | — |  |  | (1 | ) |  | — |  |  | — |
Total net periodic cost (benefit) | $ | 22 |  |  | $ | (49 | ) |  | $ | 5 |  |  | $ | 26 |  |  | $ | (7 | ) |  | $ | (4 | )
Beginning in 2016, the Company has elected to utilize a full yield curve approach in the estimation of the service and interest cost components of net periodic pension and post-retirement benefit cost for Aon's major pension and other post-retirement benefit plans by applying the specific spot rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows. In 2015 and prior years, the Company estimated these components of net periodic pension and post-retirement benefit cost by applying a single weighted-average discount rate, derived from the yield curve used to measure the benefit obligation at the beginning of the period. The Company made this change to improve the correlation between projected benefit cash flows and the corresponding yield curve spot rates and to provide a more precise measurement of service and interest costs. This change does not affect the measurement of the projected benefit obligation as the change in the service cost and interest cost is completely offset in the actuarial (gain) loss recorded in other comprehensive income. The Company accounted for this change as a change in estimate and, accordingly, will account for it prospectively. In March 2016, the Company announced a plan to offer a voluntary one-time lump sum payment option to certain eligible former employees under one of the Company’s U.K. pension plans, that if accepted, would settle the Company’s pension obligations to them. The lump sum cash payment offer closed during the second quarter of 2016. In total, lump sum payments from plan assets of £116 million ($159 million using June 30, 2016 exchange rates) were paid. As a result of this settlement, the Company remeasured the assets and liabilities of the U.K. pension plan during the second quarter of 2016, which in aggregate resulted in a net reduction to the projected benefit obligation of £103 million ($141 million using June 30, 2016 exchange rates) as well as a non-cash settlement charge of £42 million ($61 million using average June 2016 exchange rate) in the second quarter of 2016. In August 2016, the Company announced a plan to offer a voluntary one-time lump sum payment option to certain eligible former employees under one of the Company's U.S. pension plans, that if accepted, would settle the Company's pension obligations to them. As of September 30, 2016, the offer was still open and a settlement charge is expected in the fourth quarter. Contributions The Company expects to contribute approximately $79 million, $54 million, and $17 million, based on exchange rates as of December 31, 2015, to its significant U.K., U.S., and other significant international pension plans, respectively, during 2016. During the three months ended September 30, 2016, contributions of $19 million, $5 million, and $4 million were made to the Company's significant U.K., U.S., and other significant international pension plans, respectively. During the nine months ended September 30, 2016, contributions of $53 million, $24 million, and $14 million were made to the Company's significant U.K., U.S., and other significant international pension plans, respectively. During the three months ended September 30, 2015, contributions of $16 million, $41 million, and $3 million were made to the Company's significant U.K., U.S., and other significant international pension plans, respectively. During the nine months ended September 30, 2015, contributions of $50 million, $103 million, and $11 million were made to the Company's significant U.K., U.S., and other significant international pension plans, respectively.

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450702-114947 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e2410-114920 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 60 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6414203&loc=d3e39675-114964 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 70 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 60 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66047640&loc=d3e39622-114963 + Details
Name: | us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration