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Acquisitions and Dispositions of Businesses | 9 Months Ended
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Sep. 30, 2019
Business Combinations [Abstract] |
Acquisitions and Dispositions of Businesses | Acquisitions and Dispositions of Businesses Completed Acquisitions The Company completed three acquisitions during the nine months ended September 30, 2019 and five acquisitions during the nine months ended September 30, 2018. The following table includes the fair values of consideration transferred, assets acquired, and liabilities assumed as a result of the Company’s acquisitions (in millions):
|  | Nine Months Ended September 30, 2019
Consideration Transferred |  | $ | 42 |
Deferred and contingent consideration |  | 8 |
Aggregate consideration transferred |  | $ | 50 |
Assets acquired |  |
Cash and cash equivalents |  | $ | 4 |
Receivables, net |  | 1 |
Goodwill |  | 33 |
Intangible assets, net |  | 22 |
Fixed assets, net |  | 1 |
Other assets |  | 13 |
Total assets acquired |  | 74 |
Liabilities assumed |  |
Current liabilities |  | 18 |
Other non-current liabilities |  | 6 |
Total liabilities assumed |  | 24 |
Net assets acquired |  | $ | 50 |
The results of operations of these acquisitions are included in the Financial Statements as of the respective acquisition dates. The Company’s results of operations would not have been materially different if these acquisitions had been reported from the beginning of the period in which they were acquired. 2019 Acquisitions On July 31, 2019, the Company completed the transaction to acquire Ovatio Courtage SAS, an insurance broker based in France. On July 31, 2019, the Company completed the transaction to acquire Zalba-Caldu Correduria de Seguros, S.A., a Spanish insurance broker. On January 1, 2019, the Company completed the transaction to acquire Chapka Assurances SAS based in France. 2018 Acquisitions On May 9, 2018, the Company completed the transaction to acquire certain assets of 601West, a division of Lee & Hayes, P.L.L.C. based in the United States. On April 24, 2018, the Company completed the transaction to acquire Inspiring Benefits, S.L., a Spain-based firm specialized in employee loyalty, wellbeing, and rewards programs. On March 1, 2018, the Company completed the transaction to acquire the business and assets of the trade credit business of Niche International Business Proprietary Limited, a trade credit brokerage based in Johannesburg, South Africa. On March 1, 2018, the Company completed the transaction to acquire Affinity Risk Partners (Brokers) Pty. Ltd., an insurance broker in Victoria, Australia. On January 19, 2018, the Company completed the transaction to acquire substantially all of the assets of The Burchfield Group, a provider in pharmacy benefit consulting, auditing, and health plan compliance services based in the United States. Completed Dispositions The Company completed two dispositions during the three months ended September 30, 2019 and six dispositions during the nine months ended September 30, 2019. The Company completed two dispositions during the three months ended September 30, 2018 and three dispositions during the nine months ended September 30, 2018. Total pretax gains recognized for the three and nine months ended September 30, 2019 were $1 million and $8 million, respectively. Total losses, net of gains, recognized for the three and nine months ended September 30, 2018 were $3 million and $4 million, respectively. Gains and losses recognized as a result of a disposition are included in Other income (expense) in the Condensed Consolidated Statements of Income.

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- Definition The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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