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Acquisitions and Dispositions of Businesses (Tables) | 9 Months Ended
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Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Consideration Transferred and Preliminary Value of Intangible Assets | The following table includes these amounts recognized as a result of the Company’s acquisitions (in millions):
|  | Nine months ended September 30, 2024
|  | NFP Acquisition | Other Acquisitions | Total
Consideration transferred: |  |  |  |
Cash |  | $ | 3,247 |  | $ | 377 |  | $ | 3,624 |
Deferred and contingent consideration |  | — |  | 19 |  | 19 |
Class A ordinary shares issued |  | 5,882 |  | — |  | 5,882 |
Aggregate consideration transferred |  | $ | 9,129 |  | $ | 396 |  | $ | 9,525 |
Assets acquired: |  |  |  |
Cash and cash equivalents |  | $ | 293 |  | $ | 5 |  | $ | 298 |
Receivables |  | 325 |  | 28 |  | 353 |
Fiduciary assets (1) |  | 411 |  | 54 |  | 465 |
Goodwill |  | 6,987 |  | 205 |  | 7,192 |
Other intangible assets: |  |  |  |
Customer-related and contract-based |  | 5,825 |  | 207 |  | 6,032 |
Tradenames |  | 800 |  | 1 |  | 801 |
Technology and other |  | 25 |  | 1 |  | 26 |
Operating lease right-of-use assets |  | 140 |  | 4 |  | 144 |
Current assets |  | 3 |  | 6 |  | 9 |
Non-current assets |  | 169 |  | 2 |  | 171 |
Total assets acquired |  | 14,978 |  | 513 |  | 15,491 |
Liabilities assumed: |  |  |  |
Accounts payable and accrued liabilities |  | $ | 283 |  | $ | 32 |  | $ | 315 |
Fiduciary liabilities |  | 411 |  | 54 |  | 465 |
Current liabilities |  | 232 |  | 2 |  | 234 |
Long-term debt |  | 3,422 |  | — |  | 3,422 |
Non-current operating lease liabilities |  | 125 |  | 3 |  | 128 |
Deferred tax liabilities |  | 1,038 |  | 24 |  | 1,062 |
Non-current liabilities |  | 145 |  | 2 |  | 147 |
Total liabilities assumed |  | 5,656 |  | 117 |  | 5,773 |
Less: Fair value of redeemable noncontrolling interests (2) |  | (108) |  | — |  | (108) |
Less: Fair value of nonredeemable noncontrolling interests |  | (85) |  | — |  | (85) |
Net assets acquired |  | $ | 9,129 |  | $ | 396 |  | $ | 9,525 |
(1)Includes $315 million of funds held on behalf of clients. (2)The fair value of the noncontrolling interests acquired was estimated using a discounted cash flow model under the income approach and used estimated financial projections developed by management applying market participant assumptions.
Schedule of Pro Forma Information | The following table presents the NFP revenue and earnings as reported in the Company’s Condensed Consolidated Statements of Income (in millions):
|  | Three Months Ended September 30, 2024 |  | Nine Months Ended September 30, 2024
Revenue |  | $ | 601 |  |  | $ | 1,043 |
Net loss attributable to Aon shareholders |  | $ | (19) |  |  | $ | (38) |
The unaudited pro forma financial information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the NFP Transaction had taken place on the date indicated or of results that may occur in the future (in millions):
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2024 | 2023 |  | 2024 | 2023
Revenue |  | $ | 3,721 |  | $ | 3,506 |  |  | $ | 12,249 |  | $ | 11,605 |
Net income attributable to Aon shareholders |  | 343 |  | 328 |  |  | 1,745 |  | 1,596 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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