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Discontinued Operations (Tables) | 6 Months Ended
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Jun. 30, 2017
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | The following table presents financial results of the Divested Business (in millions):
|  | Three months ended June 30 |  | Six months ended June 30
|  | 2017 |  | 2016 |  | 2017 |  | 2016
Revenue |  |  |  |  |  |  |  |
Total revenue |  | $ | 171 |  |  | $ | 518 |  |  | $ | 698 |  |  | $ | 1,047 |
Expenses |  |  |  |  |  |  |  |
Total operating expenses (1) |  | 156 |  |  | 466 |  |  | 626 |  |  | 952 |
Operating Income from discontinued operations |  | 15 |  |  | 52 |  |  | 72 |  |  | 95 |
Other income |  | 11 |  |  | 1 |  |  | 11 |  |  | 1 |
Income from discontinued operations before income taxes |  | 26 |  |  | 53 |  |  | 83 |  |  | 96 |
Income taxes |  | 3 |  |  | 18 |  |  | 20 |  |  | 36 |
Income from discontinued operations excluding gain, net of tax |  | 23 |  |  | 35 |  |  | 63 |  |  | 60 |
Gain on sale of discontinued operations, net of tax |  | 798 |  |  | — |  |  | 798 |  |  | — |
Income from discontinued operations, net of tax |  | $ | 821 |  |  | $ | 35 |  |  | $ | 861 |  |  | $ | 60 |
(1) | Upon triggering held for sale criteria in February 2017, Aon ceased depreciating and amortizing all long-lived assets included in discontinued operations. No depreciation or amortization expense was recognized during the three months ended June 30, 2017. Included within total operating expenses for the three months ended June 30, 2016 was $17 million of depreciation of fixed assets and $30 million of intangible asset amortization. Total operating expenses for the six months ended June 30, 2017 and 2016 include, respectively, $8 million and $35 million of depreciation of fixed assets and $11 million and $60 million of intangible asset amortization.
The following table presents the aggregate carrying amounts of the classes of assets and liabilities presented as discontinued operations within the Company’s Condensed Consolidated Statements of Financial Position (in millions):
|  | June 30, 2017 (1) |  | December 31, 2016
ASSETS |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  |  | $ | 5 |
Receivables, net |  | — |  |  | 483 |
Fiduciary assets |  | — |  |  | 526 |
Goodwill |  | — |  |  | 1,337 |
Intangible assets, net |  | — |  |  | 333 |
Fixed assets, net |  | — |  |  | 215 |
Other assets |  | — |  |  | 295 |
TOTAL ASSETS |  | $ | — |  |  | $ | 3,194 |
LIABILITIES |  |  |  |  |  |
Accounts payable and accrued liabilities |  | $ | — |  |  | $ | 197 |
Fiduciary liabilities |  | — |  |  | 526 |
Other liabilities |  | — |  |  | 356 |
TOTAL LIABILITIES |  | $ | — |  |  | $ | 1,079 |
(1) | All assets and liabilities associated with the Divested Business were sold on May 1, 2017.

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- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=65878427&loc=SL51721533-107759 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721665-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1474-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721683-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=84176398&loc=SL51724579-110230 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721675-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721663-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=84176398&loc=d3e2941-110230 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721673-107760 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721659-107760 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721671-107760 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721677-107760 + Details
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