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Guarantee of Registered Securities (Tables) | 3 Months Ended
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Mar. 31, 2017
Guarantee of Registered Securities [Abstract] |
Condensed Consolidating Statements of Income | Condensed Consolidating Statement of Income
|  | Three months ended March 31, 2017
|  |  |  |  |  | Other |  |  |  |
|  | Aon |  | Aon |  | Non-Guarantor |  | Consolidating |  |
(millions) |  | plc |  | Corporation |  | Subsidiaries |  | Adjustments |  | Consolidated
Revenue |  |  |  |  |  |  |  |  |  |
Total revenue |  | $ | — |  |  | $ | — |  |  | $ | 2,381 |  |  | $ | — |  |  | $ | 2,381 |
Expenses |  |  |  |  |  |  |  |  |  |
Compensation and benefits |  | 52 |  |  | 6 |  |  | 1,403 |  |  | — |  |  | 1,461 |
Information technology |  | — |  |  | — |  |  | 88 |  |  | — |  |  | 88 |
Premises |  | — |  |  | — |  |  | 84 |  |  | — |  |  | 84 |
Depreciation of fixed assets |  | — |  |  | — |  |  | 54 |  |  | — |  |  | 54 |
Amortization of intangible assets |  | — |  |  | — |  |  | 43 |  |  | — |  |  | 43 |
Other general expenses |  | 5 |  |  | 2 |  |  | 301 |  |  | — |  |  | 308 |
Total operating expenses |  | 57 |  |  | 8 |  |  | 1,973 |  |  | — |  |  | 2,038 |
Operating (loss) income |  | (57 | ) |  | (8 | ) |  | 408 |  |  | — |  |  | 343 |
Interest income |  | — |  |  | 6 |  |  | (2 | ) |  | (2 | ) |  | 2 |
Interest expense |  | (45 | ) |  | (24 | ) |  | (3 | ) |  | 2 |  |  | (70 | )
Intercompany interest income (expense) |  | 3 |  |  | (136 | ) |  | 133 |  |  | — |  |  | — |
Intercompany other (expense) income |  | (50 | ) |  | 7 |  |  | 43 |  |  | — |  |  | — |
Other income (expense) |  | (10 | ) |  | 12 |  |  | (20 | ) |  | 8 |  |  | (10 | )
Income from continuing operations before income taxes |  | (159 | ) |  | (143 | ) |  | 559 |  |  | 8 |  |  | 265 |
Income tax (benefit) expense |  | (14 | ) |  | (54 | ) |  | 68 |  |  | — |  |  | — |
(Loss) income from continuing operations |  | (145 | ) |  | (89 | ) |  | 491 |  |  | 8 |  |  | 265 |
Income from discontinued operations, net of tax |  | — |  |  | — |  |  | 40 |  |  | — |  |  | 40 |
(Loss) income before equity in earnings of subsidiaries |  | (145 | ) |  | (89 | ) |  | 531 |  |  | 8 |  |  | 305 |
Equity in earnings of subsidiaries, net of tax |  | 428 |  |  | 271 |  |  | 182 |  |  | (881 | ) |  | — |
Net income |  | 283 |  |  | 182 |  |  | 713 |  |  | (873 | ) |  | 305 |
Less: Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | 14 |  |  | — |  |  | 14 |
Net income attributable to Aon shareholders |  | $ | 283 |  |  | $ | 182 |  |  | $ | 699 |  |  | $ | (873 | ) |  | $ | 291 |
Condensed Consolidating Statement of Income
|  | Three months ended March 31, 2016
|  |  |  |  |  | Other |  |  |  |
|  | Aon |  | Aon |  | Non-Guarantor |  | Consolidating |  |
(millions) |  | plc |  | Corporation |  | Subsidiaries |  | Adjustments |  | Consolidated
Revenue |  |  |  |  |  |  |  |  |  |
Total revenue |  | $ | — |  |  | $ | — |  |  | $ | 2,276 |  |  | $ | — |  |  | $ | 2,276 |
Expenses |  |  |  |  |  |  |  |  |  |
Compensation and benefits |  | 43 |  |  | 3 |  |  | 1,299 |  |  | — |  |  | 1,345 |
Information technology |  | — |  |  | — |  |  | 83 |  |  | — |  |  | 83 |
Premises |  | — |  |  | — |  |  | 82 |  |  | — |  |  | 82 |
Depreciation of fixed assets |  | — |  |  | — |  |  | 38 |  |  | — |  |  | 38 |
Amortization of intangible assets |  | — |  |  | — |  |  | 37 |  |  | — |  |  | 37 |
Other general expenses |  | 7 |  |  | 2 |  |  | 262 |  |  | — |  |  | 271 |
Total operating expenses |  | 50 |  |  | 5 |  |  | 1,801 |  |  | — |  |  | 1,856 |
Operating (loss) income |  | (50 | ) |  | (5 | ) |  | 475 |  |  | — |  |  | 420 |
Interest income |  | — |  |  | 5 |  |  | 4 |  |  | (7 | ) |  | 2 |
Interest expense |  | (45 | ) |  | (28 | ) |  | (3 | ) |  | 7 |  |  | (69 | )
Intercompany interest income (expense) |  | 4 |  |  | (133 | ) |  | 129 |  |  | — |  |  | — |
Intercompany other (expense) income |  | (54 | ) |  | 1 |  |  | 53 |  |  | — |  |  | — |
Other income (expense) |  | — |  |  | (5 | ) |  | 23 |  |  | — |  |  | 18 |
Income from continuing operations before income taxes |  | (145 | ) |  | (165 | ) |  | 681 |  |  | — |  |  | 371 |
Income tax (benefit) expense |  | (26 | ) |  | (62 | ) |  | 147 |  |  | — |  |  | 59 |
(Loss) income from continuing operations |  | (119 | ) |  | (103 | ) |  | 534 |  |  | — |  |  | 312 |
Income from discontinued operations, net of tax |  | — |  |  | — |  |  | 25 |  |  | — |  |  | 25 |
(Loss) income before equity in earnings of subsidiaries |  | (119 | ) |  | (103 | ) |  | 559 |  |  | — |  |  | 337 |
Equity in earnings of subsidiaries, net of tax |  | 444 |  |  | 356 |  |  | 253 |  |  | (1,053 | ) |  | — |
Net income |  | 325 |  |  | 253 |  |  | 812 |  |  | (1,053 | ) |  | 337 |
Less: Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | 12 |  |  | — |  |  | 12 |
Net income attributable to Aon shareholders |  | $ | 325 |  |  | $ | 253 |  |  | $ | 800 |  |  | $ | (1,053 | ) |  | $ | 325 |
Condensed Consolidating Statements of Comprehensive Income | Condensed Consolidating Statement of Comprehensive Income
|  | Three months ended March 31, 2017
|  |  |  |  |  | Other |  |  |  |
|  | Aon |  | Aon |  | Non-Guarantor |  | Consolidating |  |
(millions) |  | plc |  | Corporation |  | Subsidiaries |  | Adjustments |  | Consolidated
Net income (loss) |  | $ | 283 |  |  | $ | 182 |  |  | $ | 713 |  |  | $ | (873 | ) |  | $ | 305 |
Less: Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | 14 |  |  | — |  |  | 14 |
Net income (loss) attributable to Aon shareholders |  | 283 |  |  | 182 |  |  | 699 |  |  | (873 | ) |  | 291 |
Other comprehensive (loss) income, net of tax: |  |  |  |  |  |  |  |  |  |
Change in fair value of financial instruments |  | — |  |  | (2 | ) |  | — |  |  | — |  |  | (2 | )
Foreign currency translation adjustments |  | — |  |  | — |  |  | 155 |  |  | (8 | ) |  | 147 |
Post-retirement benefit obligation |  | — |  |  | 8 |  |  | 10 |  |  | — |  |  | 18 |
Total other comprehensive income (loss) |  | — |  |  | 6 |  |  | 165 |  |  | (8 | ) |  | 163 |
Equity in other comprehensive loss of subsidiaries, net of tax |  | 170 |  |  | 164 |  |  | 170 |  |  | (504 | ) |  | — |
Less: Other comprehensive income attributable to noncontrolling interests |  | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
Total other comprehensive loss attributable to Aon shareholders |  | 170 |  |  | 170 |  |  | 334 |  |  | (512 | ) |  | 162 |
Comprehensive income (loss) attributable to Aon shareholders |  | $ | 453 |  |  | $ | 352 |  |  | $ | 1,033 |  |  | $ | (1,385 | ) |  | $ | 453 |
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 |  | $ | 325 |  |  | $ | 253 |  |  | $ | 812 |  |  | $ | (1,053 | ) |  | $ | 337 |
Less: Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | 12 |  |  | — |  |  | 12 |
Net income attributable to Aon shareholders |  | 325 |  |  | 253 |  |  | 800 |  |  | (1,053 | ) |  | 325 |
Other comprehensive income (loss), 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 loss attributable to noncontrolling interests |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total other comprehensive loss attributable to Aon shareholders |  | (287 | ) |  | (292 | ) |  | (601 | ) |  | 893 |  |  | (287 | )
Comprehensive income (loss) attributable to Aon Shareholders |  | $ | 38 |  |  | $ | (39 | ) |  | $ | 199 |  |  | $ | (160 | ) |  | $ | 38 |
Condensed Consolidating Statements of Financial Position | Condensed Consolidating Statement of Financial Position
|  | As of March 31, 2017
|  |  |  |  |  | Other |  |  |  |
|  | Aon |  | Aon |  | Non-Guarantor |  | Consolidating |  |
(millions) |  | plc |  | Corporation |  | Subsidiaries |  | Adjustments |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  |  | $ | 1,425 |  |  | $ | 596 |  |  | $ | (1,588 | ) |  | $ | 433 |
Short-term investments |  | — |  |  | 46 |  |  | 154 |  |  | — |  |  | 200 |
Receivables, net |  | — |  |  | — |  |  | 2,103 |  |  | — |  |  | 2,103 |
Fiduciary assets |  | — |  |  | — |  |  | 9,162 |  |  | — |  |  | 9,162 |
Intercompany receivables |  | 73 |  |  | 3,215 |  |  | 8,345 |  |  | (11,633 | ) |  | — |
Current assets of discontinued operations |  | — |  |  | — |  |  | 3,186 |  |  | — |  |  | 3,186 |
Other current assets |  | 6 |  |  | 12 |  |  | 291 |  |  | — |  |  | 309 |
Total Current Assets |  | 79 |  |  | 4,698 |  |  | 23,837 |  |  | (13,221 | ) |  | 15,393 |
Goodwill |  | — |  |  | — |  |  | 7,544 |  |  | — |  |  | 7,544 |
Intangible assets, net |  | — |  |  | — |  |  | 1,886 |  |  | — |  |  | 1,886 |
Fixed assets, net |  | — |  |  | — |  |  | 536 |  |  | — |  |  | 536 |
Non-current deferred tax assets |  | 134 |  |  | 723 |  |  | 172 |  |  | (678 | ) |  | 351 |
Intercompany receivables |  | 372 |  |  | 261 |  |  | 8,716 |  |  | (9,349 | ) |  | — |
Prepaid pension |  | — |  |  | 5 |  |  | 888 |  |  | — |  |  | 893 |
Other non-current assets |  | 2 |  |  | 120 |  |  | 257 |  |  | — |  |  | 379 |
Investment in subsidiary |  | 10,707 |  |  | 15,836 |  |  | (10 | ) |  | (26,533 | ) |  | — |
TOTAL ASSETS |  | $ | 11,294 |  |  | $ | 21,643 |  |  | $ | 43,826 |  |  | $ | (49,781 | ) |  | $ | 26,982 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities |  | $ | 837 |  |  | $ | 18 |  |  | $ | 2,065 |  |  | $ | (1,588 | ) |  | $ | 1,332 |
Short-term debt and current portion of long-term debt |  | 324 |  |  | 60 |  |  | 283 |  |  | — |  |  | 667 |
Fiduciary liabilities |  | — |  |  | — |  |  | 9,162 |  |  | — |  |  | 9,162 |
Intercompany payables |  | 167 |  |  | 9,799 |  |  | 1,667 |  |  | (11,633 | ) |  | — |
Current liabilities of discontinued operations |  | — |  |  | — |  |  | 1,036 |  |  | — |  |  | 1,036 |
Other current liabilities |  | — |  |  | 62 |  |  | 711 |  |  | — |  |  | 773 |
Total Current Liabilities |  | 1,328 |  |  | 9,939 |  |  | 14,924 |  |  | (13,221 | ) |  | 12,970 |
Long-term debt |  | 4,196 |  |  | 1,413 |  |  | 1 |  |  | — |  |  | 5,610 |
Non-current deferred tax liabilities |  | — |  |  | — |  |  | 790 |  |  | (678 | ) |  | 112 |
Pension, other post-retirement and other post-employment liabilities |  | — |  |  | 1,340 |  |  | 391 |  |  | — |  |  | 1,731 |
Intercompany payables |  | — |  |  | 8,881 |  |  | 468 |  |  | (9,349 | ) |  | — |
Other non-current liabilities |  | 16 |  |  | 80 |  |  | 637 |  |  | — |  |  | 733 |
TOTAL LIABILITIES |  | 5,540 |  |  | 21,653 |  |  | 17,211 |  |  | (23,248 | ) |  | 21,156 |
TOTAL AON SHAREHOLDERS’ EQUITY |  | 5,754 |  |  | (10 | ) |  | 26,543 |  |  | (26,533 | ) |  | 5,754 |
Noncontrolling interests |  | — |  |  | — |  |  | 72 |  |  | — |  |  | 72 |
TOTAL EQUITY |  | 5,754 |  |  | (10 | ) |  | 26,615 |  |  | (26,533 | ) |  | 5,826 |
TOTAL LIABILITIES AND EQUITY |  | $ | 11,294 |  |  | $ | 21,643 |  |  | $ | 43,826 |  |  | $ | (49,781 | ) |  | $ | 26,982 |
Condensed Consolidating Statement of Financial Position
|  | As of December 31, 2016
|  |  |  |  |  | Other |  |  |  |
|  | Aon |  | Aon |  | Non-Guarantor |  | Consolidating |  |
(millions) |  | plc |  | Corporation |  | Subsidiaries |  | Adjustments |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  |  | $ | 1,633 |  |  | $ | 655 |  |  | $ | (1,862 | ) |  | $ | 426 |
Short-term investments |  | — |  |  | 140 |  |  | 150 |  |  | — |  |  | 290 |
Receivables, net |  | — |  |  | 3 |  |  | 2,103 |  |  | — |  |  | 2,106 |
Fiduciary assets |  | — |  |  | — |  |  | 8,959 |  |  | — |  |  | 8,959 |
Intercompany receivables |  | 105 |  |  | 1,880 |  |  | 9,825 |  |  | (11,810 | ) |  | — |
Current assets of discontinued operations |  | — |  |  | — |  |  | 1,118 |  |  | — |  |  | 1,118 |
Other current assets |  | — |  |  | 25 |  |  | 222 |  |  | — |  |  | 247 |
Total Current Assets |  | 105 |  |  | 3,681 |  |  | 23,032 |  |  | (13,672 | ) |  | 13,146 |
Goodwill |  | — |  |  | — |  |  | 7,410 |  |  | — |  |  | 7,410 |
Intangible assets, net |  | — |  |  | — |  |  | 1,890 |  |  | — |  |  | 1,890 |
Fixed assets, net |  | — |  |  | — |  |  | 550 |  |  | — |  |  | 550 |
Non-current deferred tax assets |  | 134 |  |  | 726 |  |  | 171 |  |  | (706 | ) |  | 325 |
Intercompany receivables |  | 366 |  |  | 261 |  |  | 8,711 |  |  | (9,338 | ) |  | — |
Prepaid pension |  | — |  |  | 5 |  |  | 853 |  |  | — |  |  | 858 |
Non-current assets of discontinued operations |  | — |  |  | — |  |  | 2,076 |  |  | — |  |  | 2,076 |
Other non-current assets |  | 2 |  |  | 119 |  |  | 239 |  |  | — |  |  | 360 |
Investment in subsidiary |  | 10,107 |  |  | 17,137 |  |  | (350 | ) |  | (26,894 | ) |  | — |
TOTAL ASSETS |  | $ | 10,714 |  |  | $ | 21,929 |  |  | $ | 44,582 |  |  | $ | (50,610 | ) |  | $ | 26,615 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities |  | $ | 585 |  |  | $ | 44 |  |  | $ | 2,837 |  |  | $ | (1,862 | ) |  | $ | 1,604 |
Short-term debt and current portion of long-term debt |  | 279 |  |  | 50 |  |  | 7 |  |  | — |  |  | 336 |
Fiduciary liabilities |  | — |  |  | — |  |  | 8,959 |  |  | — |  |  | 8,959 |
Intercompany payables |  | 142 |  |  | 10,399 |  |  | 1,269 |  |  | (11,810 | ) |  | — |
Current liabilities of discontinued operations |  | — |  |  | — |  |  | 940 |  |  | — |  |  | 940 |
Other current liabilities |  | — |  |  | 63 |  |  | 593 |  |  | — |  |  | 656 |
Total Current Liabilities |  | 1,006 |  |  | 10,556 |  |  | 14,605 |  |  | (13,672 | ) |  | 12,495 |
Long-term debt |  | 4,177 |  |  | 1,413 |  |  | 279 |  |  | — |  |  | 5,869 |
Non-current deferred tax liabilities |  | — |  |  | — |  |  | 759 |  |  | (658 | ) |  | 101 |
Pension, other post-retirement and other post-employment liabilities |  | — |  |  | 1,356 |  |  | 404 |  |  | — |  |  | 1,760 |
Intercompany payables |  | — |  |  | 8,877 |  |  | 461 |  |  | (9,338 | ) |  | — |
Non-current liabilities of discontinued operations |  | — |  |  | — |  |  | 139 |  |  | — |  |  | 139 |
Other non-current liabilities |  | 8 |  |  | 77 |  |  | 634 |  |  | — |  |  | 719 |
TOTAL LIABILITIES |  | 5,191 |  |  | 22,279 |  |  | 17,281 |  |  | (23,668 | ) |  | 21,083 |
TOTAL AON SHAREHOLDERS’ EQUITY |  | 5,523 |  |  | (350 | ) |  | 27,244 |  |  | (26,942 | ) |  | 5,475 |
Noncontrolling interests |  | — |  |  | — |  |  | 57 |  |  | — |  |  | 57 |
TOTAL EQUITY |  | 5,523 |  |  | (350 | ) |  | 27,301 |  |  | (26,942 | ) |  | 5,532 |
TOTAL LIABILITIES AND EQUITY |  | $ | 10,714 |  |  | $ | 21,929 |  |  | $ | 44,582 |  |  | $ | (50,610 | ) |  | $ | 26,615 |
Condensed Consolidating Statements of Cash Flows | Condensed Consolidating Statement of Cash Flows
|  | Three months ended March 31, 2017
|  | Aon |  | Aon |  | Other Non-Guarantor |  | Consolidating |  |
(millions) |  | plc |  | Corporation |  | Subsidiaries |  | Adjustments |  | Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash provided by operating activities - continuing operations |  | $ | (28 | ) |  | $ | 1,117 |  |  | $ | 533 |  |  | $ | (1,440 | ) |  | $ | 182 |
Cash provided by operating activities - discontinued operations |  | — |  |  | — |  |  | 58 |  |  | — |  |  | 58 |
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES |  | (28 | ) |  | 1,117 |  |  | 591 |  |  | (1,440 | ) |  | 240 |
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |
Proceeds from investments |  | — |  |  | 565 |  |  | 4 |  |  | (544 | ) |  | 25 |
Purchases of investments |  | — |  |  | (4 | ) |  | (546 | ) |  | 541 |  |  | (9 | )
Net purchases of short-term investments - non-fiduciary |  | — |  |  | 94 |  |  | — |  |  | — |  |  | 94 |
Acquisition of businesses, net of cash acquired |  | — |  |  | — |  |  | (46 | ) |  | — |  |  | (46 | )
Sale of businesses, net of cash sold |  | — |  |  | — |  |  | (2 | ) |  | — |  |  | (2 | )
Capital expenditures |  | — |  |  | — |  |  | (34 | ) |  | — |  |  | (34 | )
Cash provided by investing activities - continuing operations |  | — |  |  | 655 |  |  | (624 | ) |  | (3 | ) |  | 28 |
Cash provided by investing activities - discontinued operations |  | — |  |  | — |  |  | (15 | ) |  | — |  |  | (15 | )
CASH USED FOR INVESTING ACTIVITIES |  | — |  |  | 655 |  |  | (639 | ) |  | (3 | ) |  | 13 |
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |
Share repurchase |  | (126 | ) |  | — |  |  | — |  |  | — |  |  | (126 | )
Advances from (to) affiliates |  | 290 |  |  | (1,990 | ) |  | (17 | ) |  | 1,717 |  |  | — |
Issuance of shares for employee benefit plans |  | (85 | ) |  | — |  |  | — |  |  | — |  |  | (85 | )
Issuance of debt |  | 457 |  |  | 535 |  |  | — |  |  | — |  |  | 992 |
Repayment of debt |  | (421 | ) |  | (525 | ) |  | (4 | ) |  | — |  |  | (950 | )
Cash dividends to shareholders |  | (87 | ) |  | — |  |  | — |  |  | — |  |  | (87 | )
Noncontrolling interests and other financing activities |  | — |  |  | — |  |  | (2 | ) |  | — |  |  | (2 | )
Cash used for financing activities - continuing operations |  | 28 |  |  | (1,980 | ) |  | (23 | ) |  | 1,717 |  |  | (258 | )
Cash used for financing activities - discontinued operations |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
CASH (USED FOR) PROVIDED BY FINANCING ACTIVITIES |  | 28 |  |  | (1,980 | ) |  | (23 | ) |  | 1,717 |  |  | (258 | )
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS |  | — |  |  | — |  |  | 25 |  |  | — |  |  | 25 |
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS |  | — |  |  | (208 | ) |  | (46 | ) |  | 274 |  |  | 20 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR |  | — |  |  | 1,633 |  |  | 660 |  |  | (1,862 | ) |  | 431 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD (1) |  | $ | — |  |  | $ | 1,425 |  |  | $ | 614 |  |  | $ | (1,588 | ) |  | $ | 451 |
(1) Includes 18 million of discontinued operations at March 31, 2017. Condensed Consolidating Statement of Cash Flows
|  | Three months ended March 31, 2016
|  |  |  |  |  | Other |  |  |  |
|  | Aon |  | Aon |  | Non-Guarantor |  | Consolidating |  |
(millions) |  | plc |  | Corporation |  | Subsidiaries |  | Adjustments |  | Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash provided by operating activities - continuing operations |  | $ | (47 | ) |  | $ | (37 | ) |  | $ | 228 |  |  | $ | — |  |  | $ | 144 |
Cash provided by operating activities - discontinued operations |  | — |  |  | — |  |  | 129 |  |  | — |  |  | 129 |
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 | )
Sale of businesses, net of cash sold |  | — |  |  | — |  |  | 97 |  |  | — |  |  | 97 |
Capital expenditures |  | — |  |  | — |  |  | (37 | ) |  | — |  |  | (37 | )
Cash provided by investing activities - continuing operations |  | — |  |  | (240 | ) |  | 56 |  |  | — |  |  | (184 | )
Cash provided by investing activities - discontinued operations |  | — |  |  | — |  |  | (15 | ) |  | — |  |  | (15 | )
CASH 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 financing activities - continuing operations |  | 47 |  |  | (269 | ) |  | (194 | ) |  | 412 |  |  | (4 | )
Cash used for financing activities - discontinued operations |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
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) |  | $ | — |  |  | $ | 1,537 |  |  | $ | 1,457 |  |  | $ | (2,529 | ) |  | $ | 465 |
(1) Includes $3 million of discontinued operations at March 31, 2016.

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