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Employee Benefits | 6 Months Ended
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Jun. 30, 2018
Retirement Benefits [Abstract] |
Employee Benefits | Employee Benefits The following table provides the components of the net periodic cost (benefit) recognized in the Condensed Consolidated Statements of Income for Aon’s material U.K., U.S., and other significant international pension plans located in the Netherlands and Canada. Service cost is reported in Compensation and benefits and all other components are reported in Other income (expense) as follows (in millions):
| Three months ended June 30
| U.K. |  | U.S. |  | Other
| 2018 |  | 2017 |  | 2018 |  | 2017 |  | 2018 |  | 2017
Service cost | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest cost | 29 |  |  | 30 |  |  | 25 |  |  | 24 |  |  | 7 |  |  | 6 |
Expected return on plan assets, net of administration expenses | (50 | ) |  | (49 | ) |  | (36 | ) |  | (35 | ) |  | (11 | ) |  | (11 | )
Amortization of prior-service cost | — |  |  | — |  |  | 1 |  |  | 1 |  |  | — |  |  | — |
Amortization of net actuarial loss | 7 |  |  | 8 |  |  | 15 |  |  | 12 |  |  | 3 |  |  | 3 |
Net periodic cost (benefit) | (14 | ) |  | (11 | ) |  | 5 |  |  | 2 |  |  | (1 | ) |  | (2 | )
Loss on pension settlement | 16 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total net periodic cost (benefit) | $ | 2 |  |  | $ | (11 | ) |  | $ | 5 |  |  | $ | 2 |  |  | $ | (1 | ) |  | $ | (2 | )
| Six months ended June 30
| U.K. |  | U.S. |  | Other
| 2018 |  | 2017 |  | 2018 |  | 2017 |  | 2018 |  | 2017
Service cost | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest cost | 58 |  |  | 60 |  |  | 50 |  |  | 48 |  |  | 14 |  |  | 12 |
Expected return on plan assets, net of administration expenses | (101 | ) |  | (97 | ) |  | (72 | ) |  | (70 | ) |  | (23 | ) |  | (22 | )
Amortization of prior-service cost | — |  |  | — |  |  | 1 |  |  | 1 |  |  | — |  |  | — |
Amortization of net actuarial loss | 15 |  |  | 15 |  |  | 30 |  |  | 25 |  |  | 6 |  |  | 6 |
Net periodic cost (benefit) | (28 | ) |  | (22 | ) |  | 9 |  |  | 4 |  |  | (3 | ) |  | (4 | )
Loss on pension settlement | 23 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total net periodic cost (benefit) | $ | (5 | ) |  | $ | (22 | ) |  | $ | 9 |  |  | $ | 4 |  |  | $ | (3 | ) |  | $ | (4 | )
In March 2017, the Company approved a plan to offer a voluntary one-time lump sum payment option to certain eligible employees 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 will close during 2018. As of June 30, 2018, lump sum payments from plan assets of £99 million ($132 million using June 30, 2018 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 2018, which in aggregate resulted in a reduction to the projected benefit obligation of £87 million ($115 million using June 30, 2018 exchange rates), as well as a non-cash settlement charge of £12 million ($16 million using average June 30, 2018 exchange rates) in the second quarter of 2018 and £17 million ($23 million using average exchange rates) for the six months ended June 30, 2018. Additional non-cash settlement charges are expected in 2018. Contributions The Company expects to make cash contributions of approximately $92 million, $143 million, and $22 million, based on exchange rates as of December 31, 2017, to its significant U.K., U.S., and other significant international pension plans, respectively, during 2018. This includes the Company’s anticipated acceleration of contributions to the qualified U.S. pension plan of approximately $100 million in the third quarter of 2018, which will allow the pension contribution tax deduction to be taken at the 2017 federal tax rate of 35%. During the three months ended June 30, 2018, cash contributions of $25 million, $8 million, and $3 million were made to the Company’s significant U.K., U.S., and other significant international pension plans, respectively. During the six months ended June 30, 2018, cash contributions of $48 million, $25 million, and $11 million were made to the Company’s significant U.K., U.S., and other significant international pension plans, respectively. During the three months ended June 30, 2017, cash contributions of $26 million, $13 million, and $9 million were made to the Company’s significant U.K., U.S., and other significant international pension plans, respectively. During the six months ended June 30, 2017, cash contributions of $42 million, $26 million, and $11 million were made to the Company’s significant U.K., U.S., and other significant international pension plans, respectively.

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- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
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