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Guarantee of Registered Securities (Tables) | 6 Months Ended
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Jun. 30, 2019
Guarantee of Registered Securities [Abstract] |
Condensed Consolidating Statements of Income | Condensed Consolidating Statement of Income
|  | Three Months Ended June 30, 2019
(millions) |  | Aon plc |  | Aon Corporation |  | Other Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Revenue |  |  |  |  |  |  |  |  |  |
Total revenue |  | $ | — |  |  | $ | — |  |  | $ | 2,606 |  |  | $ | — |  |  | $ | 2,606 |
Expenses |  |  |  |  |  |  |  |  |  |
Compensation and benefits |  | 22 |  |  | 4 |  |  | 1,475 |  |  | — |  |  | 1,501 |
Information technology |  | — |  |  | — |  |  | 126 |  |  | — |  |  | 126 |
Premises |  | — |  |  | 9 |  |  | 76 |  |  | — |  |  | 85 |
Depreciation of fixed assets |  | — |  |  | — |  |  | 40 |  |  | — |  |  | 40 |
Amortization and impairment of intangible assets |  | — |  |  | — |  |  | 97 |  |  | — |  |  | 97 |
Other general expenses |  | 3 |  |  | 6 |  |  | 335 |  |  | — |  |  | 344 |
Total operating expenses |  | 25 |  |  | 19 |  |  | 2,149 |  |  | — |  |  | 2,193 |
Operating income (loss) |  | (25 | ) |  | (19 | ) |  | 457 |  |  | — |  |  | 413 |
Interest income |  | — |  |  | 9 |  |  | — |  |  | (8 | ) |  | 1 |
Interest expense |  | (45 | ) |  | (34 | ) |  | (6 | ) |  | 8 |  |  | (77 | )
Intercompany interest income (expense) |  | 3 |  |  | (116 | ) |  | 113 |  |  | — |  |  | — |
Intercompany other income (expense) |  | 137 |  |  | (164 | ) |  | 27 |  |  | — |  |  | — |
Other income (expense) |  | (11 | ) |  | (14 | ) |  | 24 |  |  | 7 |  |  | 6 |
Income (loss) from continuing operations before income taxes |  | 59 |  |  | (338 | ) |  | 615 |  |  | 7 |  |  | 343 |
Income tax expense (benefit) |  | — |  |  | (64 | ) |  | 120 |  |  | — |  |  | 56 |
Net income (loss) from continuing operations |  | 59 |  |  | (274 | ) |  | 495 |  |  | 7 |  |  | 287 |
Net income from discontinued operations |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net income (loss) before equity in earnings of subsidiaries |  | 59 |  |  | (274 | ) |  | 495 |  |  | 7 |  |  | 287 |
Equity in earnings of subsidiaries |  | 211 |  |  | 301 |  |  | 27 |  |  | (539 | ) |  | — |
Net income |  | 270 |  |  | 27 |  |  | 522 |  |  | (532 | ) |  | 287 |
Less: Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | 10 |  |  | — |  |  | 10 |
Net income attributable to Aon shareholders |  | $ | 270 |  |  | $ | 27 |  |  | $ | 512 |  |  | $ | (532 | ) |  | $ | 277 |
Condensed Consolidating Statement of Income
|  | Three Months Ended June 30, 2018
(millions) |  | Aon plc |  | Aon Corporation |  | Other Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Revenue |  |  |  |  |  |  |  |  |  |
Total revenue |  | $ | — |  |  | $ | — |  |  | $ | 2,561 |  |  | $ | — |  |  | $ | 2,561 |
Expenses |  |  |  |  |  |  |  |  |  |
Compensation and benefits |  | 15 |  |  | 1 |  |  | 1,478 |  |  | — |  |  | 1,494 |
Information technology |  | — |  |  | — |  |  | 123 |  |  | — |  |  | 123 |
Premises |  | — |  |  | — |  |  | 96 |  |  | — |  |  | 96 |
Depreciation of fixed assets |  | — |  |  | — |  |  | 47 |  |  | — |  |  | 47 |
Amortization and impairment of intangible assets |  | — |  |  | — |  |  | 282 |  |  | — |  |  | 282 |
Other general expenses |  | 2 |  |  | 91 |  |  | 442 |  |  | — |  |  | 535 |
Total operating expenses |  | 17 |  |  | 92 |  |  | 2,468 |  |  | — |  |  | 2,577 |
Operating income (loss) |  | (17 | ) |  | (92 | ) |  | 93 |  |  | — |  |  | (16 | )
Interest income |  | — |  |  | 15 |  |  | — |  |  | (14 | ) |  | 1 |
Interest expense |  | (48 | ) |  | (25 | ) |  | (10 | ) |  | 14 |  |  | (69 | )
Intercompany interest income (expense) |  | 3 |  |  | (129 | ) |  | 126 |  |  | — |  |  | — |
Intercompany other income (expense) |  | (93 | ) |  | 10 |  |  | 83 |  |  | — |  |  | — |
Other income (expense) |  | 48 |  |  | (20 | ) |  | (13 | ) |  | (18 | ) |  | (3 | )
Income (loss) from continuing operations before income taxes |  | (107 | ) |  | (241 | ) |  | 279 |  |  | (18 | ) |  | (87 | )
Income tax expense (benefit) |  | (3 | ) |  | (50 | ) |  | (91 | ) |  | — |  |  | (144 | )
Net income (loss) from continuing operations |  | (104 | ) |  | (191 | ) |  | 370 |  |  | (18 | ) |  | 57 |
Net income from discontinued operations |  | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
Net income (loss) before equity in earnings of subsidiaries |  | (104 | ) |  | (191 | ) |  | 371 |  |  | (18 | ) |  | 58 |
Equity in earnings of subsidiaries |  | 170 |  |  | 207 |  |  | 16 |  |  | (393 | ) |  | — |
Net income |  | 66 |  |  | 16 |  |  | 387 |  |  | (411 | ) |  | 58 |
Less: Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | 10 |  |  | — |  |  | 10 |
Net income attributable to Aon shareholders |  | $ | 66 |  |  | $ | 16 |  |  | $ | 377 |  |  | $ | (411 | ) |  | $ | 48 |
Condensed Consolidating Statement of Income
|  | Six Months Ended June 30, 2019
(millions) |  | Aon plc |  | Aon Corporation |  | Other Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Revenue |  |  |  |  |  |  |  |  |  |
Total revenue |  | $ | — |  |  | $ | — |  |  | $ | 5,749 |  |  | $ | — |  |  | $ | 5,749 |
Expenses |  |  |  |  |  |  |  |  |  |
Compensation and benefits |  | 42 |  |  | 12 |  |  | 3,031 |  |  | — |  |  | 3,085 |
Information technology |  | — |  |  | — |  |  | 243 |  |  | — |  |  | 243 |
Premises |  | — |  |  | 13 |  |  | 159 |  |  | — |  |  | 172 |
Depreciation of fixed assets |  | — |  |  | — |  |  | 80 |  |  | — |  |  | 80 |
Amortization and impairment of intangible assets |  | — |  |  | — |  |  | 194 |  |  | — |  |  | 194 |
Other general expenses |  | 3 |  |  | 2 |  |  | 685 |  |  | — |  |  | 690 |
Total operating expenses |  | 45 |  |  | 27 |  |  | 4,392 |  |  | — |  |  | 4,464 |
Operating income (loss) |  | (45 | ) |  | (27 | ) |  | 1,357 |  |  | — |  |  | 1,285 |
Interest income |  | — |  |  | 18 |  |  | — |  |  | (15 | ) |  | 3 |
Interest expense |  | (91 | ) |  | (62 | ) |  | (11 | ) |  | 15 |  |  | (149 | )
Intercompany interest income (expense) |  | 7 |  |  | (232 | ) |  | 225 |  |  | — |  |  | — |
Intercompany other income (expense) |  | 168 |  |  | (263 | ) |  | 95 |  |  | — |  |  | — |
Other income (expense) |  | (6 | ) |  | (25 | ) |  | 32 |  |  | 5 |  |  | 6 |
Income (loss) from continuing operations before income taxes |  | 33 |  |  | (591 | ) |  | 1,698 |  |  | 5 |  |  | 1,145 |
Income tax expense (benefit) |  | (5 | ) |  | (106 | ) |  | 293 |  |  | — |  |  | 182 |
Net income (loss) from continuing operations |  | 38 |  |  | (485 | ) |  | 1,405 |  |  | 5 |  |  | 963 |
Net income from discontinued operations |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net income (loss) before equity in earnings of subsidiaries |  | 38 |  |  | (485 | ) |  | 1,405 |  |  | 5 |  |  | 963 |
Equity in earnings of subsidiaries |  | 893 |  |  | 1,025 |  |  | 540 |  |  | (2,458 | ) |  | — |
Net income |  | 931 |  |  | 540 |  |  | 1,945 |  |  | (2,453 | ) |  | 963 |
Less: Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | 27 |  |  | — |  |  | 27 |
Net income attributable to Aon shareholders |  | $ | 931 |  |  | $ | 540 |  |  | $ | 1,918 |  |  | $ | (2,453 | ) |  | $ | 936 |
Condensed Consolidating Statement of Income
|  | Six Months Ended June 30, 2018
(millions) |  | Aon plc |  | Aon Corporation |  | Other Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Revenue |  |  |  |  |  |  |  |  |  |
Total revenue |  | $ | — |  |  | $ | — |  |  | $ | 5,651 |  |  | $ | — |  |  | $ | 5,651 |
Expenses |  |  |  |  |  |  |  |  |  |
Compensation and benefits |  | 34 |  |  | 2 |  |  | 3,074 |  |  | — |  |  | 3,110 |
Information technology |  | — |  |  | — |  |  | 238 |  |  | — |  |  | 238 |
Premises |  | — |  |  | — |  |  | 189 |  |  | — |  |  | 189 |
Depreciation of fixed assets |  | — |  |  | — |  |  | 86 |  |  | — |  |  | 86 |
Amortization and impairment of intangible assets |  | — |  |  | — |  |  | 392 |  |  | — |  |  | 392 |
Other general expenses |  | 3 |  |  | 91 |  |  | 759 |  |  | — |  |  | 853 |
Total operating expenses |  | 37 |  |  | 93 |  |  | 4,738 |  |  | — |  |  | 4,868 |
Operating income (loss) |  | (37 | ) |  | (93 | ) |  | 913 |  |  | — |  |  | 783 |
Interest income |  | — |  |  | 29 |  |  | — |  |  | (24 | ) |  | 5 |
Interest expense |  | (97 | ) |  | (49 | ) |  | (17 | ) |  | 24 |  |  | (139 | )
Intercompany interest income (expense) |  | 7 |  |  | (257 | ) |  | 250 |  |  | — |  |  | — |
Intercompany other income (expense) |  | (146 | ) |  | 5 |  |  | 141 |  |  | — |  |  | — |
Other income (expense) |  | 23 |  |  | (26 | ) |  | — |  |  | (15 | ) |  | (18 | )
Income (loss) from continuing operations before income taxes |  | (250 | ) |  | (391 | ) |  | 1,287 |  |  | (15 | ) |  | 631 |
Income tax expense (benefit) |  | (19 | ) |  | (77 | ) |  | 66 |  |  | — |  |  | (30 | )
Net income (loss) from continuing operations |  | (231 | ) |  | (314 | ) |  | 1,221 |  |  | (15 | ) |  | 661 |
Net income from discontinued operations |  | — |  |  | — |  |  | 7 |  |  | — |  |  | 7 |
Net income (loss) before equity in earnings of subsidiaries |  | (231 | ) |  | (314 | ) |  | 1,228 |  |  | (15 | ) |  | 668 |
Equity in earnings of subsidiaries |  | 888 |  |  | 912 |  |  | 598 |  |  | (2,398 | ) |  | — |
Net income |  | 657 |  |  | 598 |  |  | 1,826 |  |  | (2,413 | ) |  | 668 |
Less: Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | 26 |  |  | — |  |  | 26 |
Net income attributable to Aon shareholders |  | $ | 657 |  |  | $ | 598 |  |  | $ | 1,800 |  |  | $ | (2,413 | ) |  | $ | 642 |
Condensed Consolidating Statements of Comprehensive Income | Condensed Consolidating Statement of Comprehensive Income
|  | Three Months Ended June 30, 2019
(millions) |  | Aon plc |  | Aon Corporation |  | Other Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Net income |  | $ | 270 |  |  | $ | 27 |  |  | $ | 522 |  |  | $ | (532 | ) |  | $ | 287 |
Less: Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | 10 |  |  | — |  |  | 10 |
Net income attributable to Aon shareholders |  | 270 |  |  | 27 |  |  | 512 |  |  | (532 | ) |  | 277 |
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |
Change in fair value of financial instruments |  | — |  |  | — |  |  | (8 | ) |  | — |  |  | (8 | )
Foreign currency translation adjustments |  | — |  |  | — |  |  | (96 | ) |  | (7 | ) |  | (103 | )
Postretirement benefit obligation |  | — |  |  | 10 |  |  | 4 |  |  | — |  |  | 14 |
Total other comprehensive income (loss) |  | — |  |  | 10 |  |  | (100 | ) |  | (7 | ) |  | (97 | )
Equity in other comprehensive income (loss) of subsidiaries, net of tax |  | (90 | ) |  | (118 | ) |  | (108 | ) |  | 316 |  |  | — |
Less: Other comprehensive income (loss) attributable to noncontrolling interests |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total other comprehensive income (loss) attributable to Aon shareholders |  | (90 | ) |  | (108 | ) |  | (208 | ) |  | 309 |  |  | (97 | )
Comprehensive income attributable (loss) to Aon shareholders |  | $ | 180 |  |  | $ | (81 | ) |  | $ | 304 |  |  | $ | (223 | ) |  | $ | 180 |
Condensed Consolidating Statement of Comprehensive Income
|  | Three Months Ended June 30, 2018
(millions) |  | Aon plc |  | Aon Corporation |  | Other Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Net income |  | $ | 66 |  |  | $ | 16 |  |  | $ | 387 |  |  | $ | (411 | ) |  | $ | 58 |
Less: Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | 10 |  |  | — |  |  | 10 |
Net income attributable to Aon shareholders |  | 66 |  |  | 16 |  |  | 377 |  |  | (411 | ) |  | 48 |
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |
Change in fair value of financial instruments |  | — |  |  | (4 | ) |  | 3 |  |  | — |  |  | (1 | )
Foreign currency translation adjustments |  | — |  |  | — |  |  | (478 | ) |  | 18 |  |  | (460 | )
Postretirement benefit obligation |  | — |  |  | 11 |  |  | 111 |  |  | — |  |  | 122 |
Total other comprehensive income (loss) |  | — |  |  | 7 |  |  | (364 | ) |  | 18 |  |  | (339 | )
Equity in other comprehensive income (loss) of subsidiaries, net of tax |  | (351 | ) |  | (345 | ) |  | (338 | ) |  | 1,034 |  |  | — |
Less: Other comprehensive income (loss) attributable to noncontrolling interests |  | — |  |  | — |  |  | (6 | ) |  | — |  |  | (6 | )
Total other comprehensive income (loss) attributable to Aon shareholders |  | (351 | ) |  | (338 | ) |  | (696 | ) |  | 1,052 |  |  | (333 | )
Comprehensive income attributable (loss) to Aon shareholders |  | $ | (285 | ) |  | $ | (322 | ) |  | $ | (319 | ) |  | $ | 641 |  |  | $ | (285 | )
Condensed Consolidating Statement of Comprehensive Income
|  | Six Months Ended June 30, 2019
(millions) |  | Aon plc |  | Aon Corporation |  | Other Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Net income |  | $ | 931 |  |  | $ | 540 |  |  | $ | 1,945 |  |  | $ | (2,453 | ) |  | $ | 963 |
Less: Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | 27 |  |  | — |  |  | 27 |
Net income attributable to Aon shareholders |  | 931 |  |  | 540 |  |  | 1,918 |  |  | (2,453 | ) |  | 936 |
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |
Change in fair value of financial instruments |  | — |  |  | 2 |  |  | (3 | ) |  | — |  |  | (1 | )
Foreign currency translation adjustments |  | — |  |  | — |  |  | 35 |  |  | (5 | ) |  | 30 |
Postretirement benefit obligation |  | — |  |  | 32 |  |  | 13 |  |  | — |  |  | 45 |
Total other comprehensive income (loss) |  | — |  |  | 34 |  |  | 45 |  |  | (5 | ) |  | 74 |
Equity in other comprehensive income (loss) of subsidiaries, net of tax |  | 77 |  |  | (3 | ) |  | 31 |  |  | (105 | ) |  | — |
Less: Other comprehensive income (loss) attributable to noncontrolling interests |  | — |  |  | — |  |  | 2 |  |  | — |  |  | 2 |
Total other comprehensive income (loss) attributable to Aon shareholders |  | 77 |  |  | 31 |  |  | 74 |  |  | (110 | ) |  | 72 |
Comprehensive income attributable (loss) to Aon shareholders |  | $ | 1,008 |  |  | $ | 571 |  |  | $ | 1,992 |  |  | $ | (2,563 | ) |  | $ | 1,008 |
Condensed Consolidating Statement of Comprehensive Income
|  | Six Months Ended June 30, 2018
(millions) |  | Aon plc |  | Aon Corporation |  | Other Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Net income |  | $ | 657 |  |  | $ | 598 |  |  | $ | 1,826 |  |  | $ | (2,413 | ) |  | $ | 668 |
Less: Net income attributable to noncontrolling interests |  | — |  |  | — |  |  | 26 |  |  | — |  |  | 26 |
Net income attributable to Aon shareholders |  | 657 |  |  | 598 |  |  | 1,800 |  |  | (2,413 | ) |  | 642 |
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |
Change in fair value of financial instruments |  | — |  |  | (1 | ) |  | 14 |  |  | — |  |  | 13 |
Foreign currency translation adjustments |  | — |  |  | — |  |  | (228 | ) |  | 15 |  |  | (213 | )
Postretirement benefit obligation |  | — |  |  | 22 |  |  | 148 |  |  | — |  |  | 170 |
Total other comprehensive income (loss) |  | — |  |  | 21 |  |  | (66 | ) |  | 15 |  |  | (30 | )
Equity in other comprehensive income (loss) of subsidiaries, net of tax |  | (42 | ) |  | (60 | ) |  | (39 | ) |  | 141 |  |  | — |
Less: Other comprehensive income (loss) attributable to noncontrolling interests |  | — |  |  | — |  |  | (3 | ) |  | — |  |  | (3 | )
Total other comprehensive income (loss) attributable to Aon shareholders |  | (42 | ) |  | (39 | ) |  | (102 | ) |  | 156 |  |  | (27 | )
Comprehensive income attributable (loss) to Aon shareholders |  | $ | 615 |  |  | $ | 559 |  |  | $ | 1,698 |  |  | $ | (2,257 | ) |  | $ | 615 |
Condensed Consolidating Statements of Financial Position | Condensed Consolidating Statement of Financial Position
|  | As of June 30, 2019
(millions) |  | Aon plc |  | Aon Corporation |  | Other Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  |  | $ | 1,371 |  |  | $ | 537 |  |  | $ | (1,327 | ) |  | $ | 581 |
Short-term investments |  | — |  |  | 125 |  |  | 110 |  |  | — |  |  | 235 |
Receivables, net |  | — |  |  | — |  |  | 3,227 |  |  | — |  |  | 3,227 |
Fiduciary assets |  | — |  |  | — |  |  | 12,071 |  |  | — |  |  | 12,071 |
Current intercompany receivables |  | 167 |  |  | 3,421 |  |  | 12,843 |  |  | (16,431 | ) |  | — |
Other current assets |  | — |  |  | 10 |  |  | 621 |  |  | — |  |  | 631 |
Total current assets |  | 167 |  |  | 4,927 |  |  | 29,409 |  |  | (17,758 | ) |  | 16,745 |
Goodwill |  | — |  |  | — |  |  | 8,198 |  |  | — |  |  | 8,198 |
Intangible assets, net |  | — |  |  | — |  |  | 973 |  |  | — |  |  | 973 |
Fixed assets, net |  | — |  |  | — |  |  | 599 |  |  | — |  |  | 599 |
Operating lease right-of-use assets |  | — |  |  | 112 |  |  | 847 |  |  | — |  |  | 959 |
Deferred tax assets |  | 93 |  |  | 498 |  |  | 150 |  |  | (142 | ) |  | 599 |
Prepaid pension |  | — |  |  | 5 |  |  | 1,208 |  |  | — |  |  | 1,213 |
Non-current intercompany receivables |  | 404 |  |  | 261 |  |  | 7,200 |  |  | (7,865 | ) |  | — |
Other non-current assets |  | 1 |  |  | 28 |  |  | 492 |  |  | — |  |  | 521 |
Investment in subsidiary |  | 8,937 |  |  | 20,147 |  |  | (424 | ) |  | (28,660 | ) |  | — |
Total assets |  | $ | 9,602 |  |  | $ | 25,978 |  |  | $ | 48,652 |  |  | $ | (54,425 | ) |  | $ | 29,807 |
Liabilities and equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities |  | $ | 582 |  |  | $ | 57 |  |  | $ | 2,057 |  |  | $ | (1,327 | ) |  | $ | 1,369 |
Short-term debt and current portion of long-term debt |  | 569 |  |  | 275 |  |  | — |  |  | — |  |  | 844 |
Fiduciary liabilities |  | — |  |  | — |  |  | 12,071 |  |  | — |  |  | 12,071 |
Current intercompany payables |  | 378 |  |  | 14,633 |  |  | 1,420 |  |  | (16,431 | ) |  | — |
Other current liabilities |  | — |  |  | 78 |  |  | 1,119 |  |  | — |  |  | 1,197 |
Total current liabilities |  | 1,529 |  |  | 15,043 |  |  | 16,667 |  |  | (17,758 | ) |  | 15,481 |
Long-term debt |  | 4,234 |  |  | 2,506 |  |  | — |  |  | — |  |  | 6,740 |
Non-current operating lease liabilities |  | — |  |  | 149 |  |  | 813 |  |  | — |  |  | 962 |
Deferred tax liabilities |  | — |  |  | — |  |  | 353 |  |  | (142 | ) |  | 211 |
Pension, other postretirement, and postemployment liabilities |  | — |  |  | 1,232 |  |  | 344 |  |  | — |  |  | 1,576 |
Non-current intercompany payables |  | — |  |  | 7,366 |  |  | 499 |  |  | (7,865 | ) |  | — |
Other non-current liabilities |  | 3 |  |  | 106 |  |  | 815 |  |  | — |  |  | 924 |
Total liabilities |  | 5,766 |  |  | 26,402 |  |  | 19,491 |  |  | (25,765 | ) |  | 25,894 |
Equity |  |  |  |  |  |  |  |  |  |
Total Aon shareholders’ equity |  | 3,836 |  |  | (424 | ) |  | 29,084 |  |  | (28,660 | ) |  | 3,836 |
Noncontrolling interests |  | — |  |  | — |  |  | 77 |  |  | — |  |  | 77 |
Total equity |  | 3,836 |  |  | (424 | ) |  | 29,161 |  |  | (28,660 | ) |  | 3,913 |
Total liabilities and equity |  | $ | 9,602 |  |  | $ | 25,978 |  |  | $ | 48,652 |  |  | $ | (54,425 | ) |  | $ | 29,807 |
Condensed Consolidating Statement of Financial Position
|  | As of December 31, 2018
(millions) |  | Aon plc |  | Aon Corporation |  | Other Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  |  | $ | 862 |  |  | $ | 575 |  |  | $ | (781 | ) |  | $ | 656 |
Short-term investments |  | — |  |  | 56 |  |  | 116 |  |  | — |  |  | 172 |
Receivables, net |  | — |  |  | — |  |  | 2,760 |  |  | — |  |  | 2,760 |
Fiduciary assets |  | — |  |  | — |  |  | 10,166 |  |  | — |  |  | 10,166 |
Current intercompany receivables |  | 191 |  |  | 897 |  |  | 11,634 |  |  | (12,722 | ) |  | — |
Other current assets |  | — |  |  | 16 |  |  | 602 |  |  | — |  |  | 618 |
Total current assets |  | 191 |  |  | 1,831 |  |  | 25,853 |  |  | (13,503 | ) |  | 14,372 |
Goodwill |  | — |  |  | — |  |  | 8,171 |  |  | — |  |  | 8,171 |
Intangible assets, net |  | — |  |  | — |  |  | 1,149 |  |  | — |  |  | 1,149 |
Fixed assets, net |  | — |  |  | — |  |  | 588 |  |  | — |  |  | 588 |
Operating lease right-of-use assets |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Deferred tax assets |  | 94 |  |  | 467 |  |  | 144 |  |  | (144 | ) |  | 561 |
Prepaid pension |  | — |  |  | 5 |  |  | 1,128 |  |  | — |  |  | 1,133 |
Non-current intercompany receivables |  | 403 |  |  | 261 |  |  | 7,225 |  |  | (7,889 | ) |  | — |
Other non-current assets |  | 1 |  |  | 30 |  |  | 417 |  |  | — |  |  | 448 |
Investment in subsidiary |  | 8,433 |  |  | 19,132 |  |  | (882 | ) |  | (26,683 | ) |  | — |
Total assets |  | $ | 9,122 |  |  | $ | 21,726 |  |  | $ | 43,793 |  |  | $ | (48,219 | ) |  | $ | 26,422 |
Liabilities and equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities |  | $ | 274 |  |  | $ | 70 |  |  | $ | 2,380 |  |  | $ | (781 | ) |  | $ | 1,943 |
Short-term debt and current portion of long-term debt |  | 250 |  |  | — |  |  | 1 |  |  | — |  |  | 251 |
Fiduciary liabilities |  | — |  |  | — |  |  | 10,166 |  |  | — |  |  | 10,166 |
Current intercompany payables |  | 213 |  |  | 11,875 |  |  | 634 |  |  | (12,722 | ) |  | — |
Other current liabilities |  | — |  |  | 69 |  |  | 867 |  |  | — |  |  | 936 |
Total current liabilities |  | 737 |  |  | 12,014 |  |  | 14,048 |  |  | (13,503 | ) |  | 13,296 |
Long-term debt |  | 4,231 |  |  | 1,762 |  |  | — |  |  | — |  |  | 5,993 |
Non-current operating lease liabilities |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Deferred tax liabilities |  | — |  |  | — |  |  | 325 |  |  | (144 | ) |  | 181 |
Pension, other postretirement, and postemployment liabilities |  | — |  |  | 1,275 |  |  | 361 |  |  | — |  |  | 1,636 |
Non-current intercompany payables |  | — |  |  | 7,390 |  |  | 499 |  |  | (7,889 | ) |  | — |
Other non-current liabilities |  | 3 |  |  | 167 |  |  | 927 |  |  | — |  |  | 1,097 |
Total liabilities |  | 4,971 |  |  | 22,608 |  |  | 16,160 |  |  | (21,536 | ) |  | 22,203 |
Equity |  |  |  |  |  |  |  |  |  |
Total Aon shareholders’ equity |  | 4,151 |  |  | (882 | ) |  | 27,565 |  |  | (26,683 | ) |  | 4,151 |
Noncontrolling interests |  | — |  |  | — |  |  | 68 |  |  | — |  |  | 68 |
Total equity |  | 4,151 |  |  | (882 | ) |  | 27,633 |  |  | (26,683 | ) |  | 4,219 |
Total liabilities and equity |  | $ | 9,122 |  |  | $ | 21,726 |  |  | $ | 43,793 |  |  | $ | (48,219 | ) |  | $ | 26,422 |
Condensed Consolidating Statements of Cash Flows | Condensed Consolidating Statement of Cash Flows
|  | Six Months Ended June 30, 2019
(millions) |  | Aon plc |  | Aon Corporation |  | Other Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Cash flows from operating activities |  |  |  |  |  |  |  |  |  |
Cash provided by (used for) operating activities |  | $ | 366 |  |  | $ | (110 | ) |  | $ | 690 |  |  | $ | (585 | ) |  | $ | 361 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |  |
Proceeds from investments |  | — |  |  | 9 |  |  | 5 |  |  | — |  |  | 14 |
Payments for investments |  | — |  |  | (19 | ) |  | (41 | ) |  | — |  |  | (60 | )
Net sales (purchases) of short-term investments - non-fiduciary |  | — |  |  | (69 | ) |  | 7 |  |  | — |  |  | (62 | )
Acquisition of businesses, net of cash acquired |  | — |  |  | — |  |  | (15 | ) |  | — |  |  | (15 | )
Sale of businesses, net of cash sold |  | — |  |  | — |  |  | 7 |  |  | — |  |  | 7 |
Capital expenditures |  | — |  |  | — |  |  | (106 | ) |  | — |  |  | (106 | )
Cash provided by (used for) investing activities |  | — |  |  | (79 | ) |  | (143 | ) |  | — |  |  | (222 | )
Cash flows from financing activities |  |  |  |  |  |  |  |  |  |
Share repurchase |  | (1,155 | ) |  | — |  |  | — |  |  | — |  |  | (1,155 | )
Advances from (to) affiliates |  | 823 |  |  | (320 | ) |  | (542 | ) |  | 39 |  |  | — |
Issuance of shares for employee benefit plans |  | (144 | ) |  | — |  |  | — |  |  | — |  |  | (144 | )
Issuance of debt |  | 1,219 |  |  | 2,340 |  |  | — |  |  | — |  |  | 3,559 |
Repayment of debt |  | (906 | ) |  | (1,322 | ) |  | — |  |  | — |  |  | (2,228 | )
Cash dividends to shareholders |  | (203 | ) |  | — |  |  | — |  |  | — |  |  | (203 | )
Noncontrolling interests and other financing activities |  | — |  |  | — |  |  | (61 | ) |  | — |  |  | (61 | )
Cash provided by (used for) financing activities |  | (366 | ) |  | 698 |  |  | (603 | ) |  | 39 |  |  | (232 | )
Effect of exchange rate changes on cash and cash equivalents |  | — |  |  | — |  |  | 18 |  |  | — |  |  | 18 |
Net increase (decrease) in cash and cash equivalents |  | — |  |  | 509 |  |  | (38 | ) |  | (546 | ) |  | (75 | )
Cash and cash equivalents at beginning of period |  | — |  |  | 862 |  |  | 575 |  |  | (781 | ) |  | 656 |
Cash and cash equivalents at end of period |  | $ | — |  |  | $ | 1,371 |  |  | $ | 537 |  |  | $ | (1,327 | ) |  | $ | 581 |
Condensed Consolidating Statement of Cash Flows
|  | Six Months Ended June 30, 2018
(millions) |  | Aon plc |  | Aon Corporation |  | Other Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Cash flows from operating activities |  |  |  |  |  |  |  |  |  |
Cash provided by (used for) operating activities |  | $ | (126 | ) |  | $ | 582 |  |  | $ | 759 |  |  | $ | (802 | ) |  | $ | 413 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |  |
Proceeds from investments |  | — |  |  | 13 |  |  | 10 |  |  | — |  |  | 23 |
Payments for investments |  | (12 | ) |  | (17 | ) |  | (19 | ) |  | 12 |  |  | (36 | )
Net sales (purchases) of short-term investments - non-fiduciary |  | — |  |  | 296 |  |  | 56 |  |  | — |  |  | 352 |
Acquisition of businesses, net of cash acquired |  | — |  |  | — |  |  | (50 | ) |  | — |  |  | (50 | )
Sale of businesses, net of cash sold |  | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
Capital expenditures |  | — |  |  | — |  |  | (111 | ) |  | — |  |  | (111 | )
Cash provided by (used for) investing activities |  | (12 | ) |  | 292 |  |  | (113 | ) |  | 12 |  |  | 179 |
Cash flows from financing activities |  |  |  |  |  |  |  |  |  |
Share repurchase |  | (971 | ) |  | — |  |  | — |  |  | — |  |  | (971 | )
Advances from (to) affiliates |  | 965 |  |  | (810 | ) |  | (395 | ) |  | 240 |  |  | — |
Issuance of shares for employee benefit plans |  | (150 | ) |  | — |  |  | — |  |  | — |  |  | (150 | )
Issuance of debt |  | 752 |  |  | 1,800 |  |  | — |  |  | — |  |  | 2,552 |
Repayment of debt |  | (272 | ) |  | (1,461 | ) |  | (294 | ) |  | — |  |  | (2,027 | )
Cash dividends to shareholders |  | (187 | ) |  | — |  |  | — |  |  | — |  |  | (187 | )
Noncontrolling interests and other financing activities |  | — |  |  | — |  |  | (15 | ) |  | — |  |  | (15 | )
Cash provided by (used for) financing activities |  | 137 |  |  | (471 | ) |  | (704 | ) |  | 240 |  |  | (798 | )
Effect of exchange rate changes on cash and cash equivalents |  | — |  |  | — |  |  | (63 | ) |  | — |  |  | (63 | )
Net increase (decrease) in cash and cash equivalents |  | (1 | ) |  | 403 |  |  | (121 | ) |  | (550 | ) |  | (269 | )
Cash and cash equivalents at beginning of period |  | 1 |  |  | 2,524 |  |  | 793 |  |  | (2,562 | ) |  | 756 |
Cash and cash equivalents at end of period |  | $ | — |  |  | $ | 2,927 |  |  | $ | 672 |  |  | $ | (3,112 | ) |  | $ | 487 |

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