XML 40 R28.htm IDEA: XBRL DOCUMENT
v3.25.1

Revenue from Contracts with Customers (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | The following table summarizes revenue from contracts with customers by principal service line (in millions):
|  | Three Months Ended March 31, |  |
|  | 2025 |  | 2024 |  |  |  |
Commercial Risk Solutions |  | $ | 2,002 |  |  | $ | 1,808 |  |  |  |  |
Reinsurance Solutions |  | 1,189 |  |  | 1,167 |  |  |  |  |
Total Risk Capital (1) |  | 3,191 |  |  | 2,975 |  |  |  |  |
Health Solutions |  | 1,026 |  |  | 733 |  |  |  |  |
Wealth Solutions |  | 519 |  |  | 370 |  |  |  |  |
Total Human Capital (1) |  | 1,545 |  |  | 1,103 |  |  |  |  |
Eliminations |  | (7) |  |  | (8) |  |  |  |  |
Total revenue |  | $ | 4,729 |  |  | $ | 4,070 |  |  |  |  |
(1)Includes inter-segment revenue. Refer to Note 16 “Segment Information” for further information. Consolidated revenue from contracts with customers by geographic area, which is attributed on the basis of where the services are performed, is as follows (in millions):
|  | Three Months Ended March 31, 2025
|  | Risk Capital |  | Human Capital |  | Corporate/Eliminations |  | Total
U.S. |  | $ | 1,221 |  |  | $ | 788 |  |  | $ | (7) |  |  | $ | 2,002 |
Americas other than U.S. |  | 254 |  |  | 120 |  |  | — |  |  | 374 |
U.K. |  | 430 |  |  | 191 |  |  | — |  |  | 621 |
Ireland |  | 22 |  |  | 23 |  |  | — |  |  | 45 |
Europe, Middle East, & Africa other than U.K. and Ireland |  | 946 |  |  | 316 |  |  | — |  |  | 1,262 |
Asia Pacific |  | 318 |  |  | 107 |  |  | — |  |  | 425 |
Total revenue |  | $ | 3,191 |  |  | $ | 1,545 |  |  | $ | (7) |  |  | $ | 4,729 |
|  | Three Months Ended March 31, 2024
|  | Risk Capital |  | Human Capital |  | Corporate/Eliminations |  | Total
U.S. |  | $ | 1,078 |  |  | $ | 442 |  |  | $ | (8) |  |  | $ | 1,512 |
Americas other than U.S. |  | 227 |  |  | 96 |  |  | — |  |  | 323 |
U.K. |  | 411 |  |  | 172 |  |  | — |  |  | 583 |
Ireland |  | 16 |  |  | 17 |  |  | — |  |  | 33 |
Europe, Middle East, & Africa other than U.K. and Ireland |  | 928 |  |  | 281 |  |  | — |  |  | 1,209 |
Asia Pacific |  | 315 |  |  | 95 |  |  | — |  |  | 410 |
Total revenue |  | $ | 2,975 |  |  | $ | 1,103 |  |  | $ | (8) |  |  | $ | 4,070 |
Schedule of Capitalized Contract Cost | An analysis of the changes in the net carrying amount of costs to fulfill contracts with customers are as follows (in millions):
|  | Three Months Ended March 31, |  |
|  | 2025 |  | 2024 |  |  |  |
Balance at beginning of period |  | $ | 424 |  |  | $ | 370 |  |  |  |  |
Additions |  | 418 |  |  | 380 |  |  |  |  |
Amortization |  | (544) |  |  | (478) |  |  |  |  |
Impairment |  | — |  |  | — |  |  |  |  |
Foreign currency translation and other |  | 4 |  |  | (3) |  |  |  |  |
Balance at end of period |  | $ | 302 |  |  | $ | 269 |  |  |  |  |
An analysis of the changes in the net carrying amount of costs to obtain contracts with customers are as follows (in millions):
|  | Three Months Ended March 31, |  |
|  | 2025 |  | 2024 |  |  |  |
Balance at beginning of period |  | $ | 207 |  |  | $ | 195 |  |  |  |  |
Additions |  | 13 |  |  | 14 |  |  |  |  |
Amortization |  | (13) |  |  | (13) |  |  |  |  |
Impairment |  | — |  |  | — |  |  |  |  |
Foreign currency translation and other |  | 1 |  |  | (2) |  |  |  |  |
Balance at end of period |  | $ | 208 |  |  | $ | 194 |  |  |  |  |

X
- Definition Tabular disclosure of cost capitalized in obtaining or fulfilling contract with customer. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 340 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479483/340-40-50-3 + Details
Name: | us-gaap_CapitalizedContractCostTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration