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Other Financial Data | 3 Months Ended
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Mar. 31, 2025
Other Financial Data [Abstract] |
Other Financial Data | Other Financial Data Condensed Consolidated Statements of Income Information Other Income (Expense) Other income (expense) consists of the following (in millions):
|  | Three Months Ended March 31, |  |
|  | 2025 |  | 2024 |  |  |  |
Equity earnings (loss) |  | $ | (2) |  |  | $ | 2 |  |  |  |  |
Pension and other postretirement |  | (23) |  |  | (10) |  |  |  |  |
Foreign currency remeasurement |  | (16) |  |  | 4 |  |  |  |  |
Financial instruments and other (1) |  | 31 |  |  | 79 |  |  |  |  |
Total |  | $ | (10) |  |  | $ | 75 |  |  |  |  |
(1)During the three months ended March 31, 2025 and 2024, a $20 million and $82 million gain was recognized, respectively, related to deferred consideration from the affiliates of The Blackstone Group L.P. and the other designated purchasers related to a divestiture completed in a prior year period. Refer to Note 7 “Acquisitions and Dispositions of Businesses” for additional information. Condensed Consolidated Statements of Financial Position Information Allowance for Doubtful Accounts Changes in the net carrying amount of allowance for doubtful accounts are as follows (in millions):
|  | Three Months Ended March 31, |  |
|  | 2025 |  | 2024 |  |  |  |
Balance at beginning of period |  | $ | 75 |  |  | $ | 79 |  |  |  |  |
Provision |  | 3 |  |  | 5 |  |  |  |  |
Accounts written off, net of recoveries |  | (5) |  |  | (2) |  |  |  |  |
Foreign currency translation and other |  | 1 |  |  | (1) |  |  |  |  |
Balance at end of period |  | $ | 74 |  |  | $ | 81 |  |  |  |  |
Other Current Assets The components of Other current assets are as follows (in millions):
As of | March 31, 2025 |  | December 31, 2024
Costs to fulfill contracts with customers (1) | $ | 302 |  |  | $ | 424 |
Prepaid expenses | 168 |  |  | 135 |
Taxes receivable | 61 |  |  | 43 |
Other (2) | 167 |  |  | 157 |
Total | $ | 698 |  |  | $ | 759 |
(1)Refer to Note 3 “Revenue from Contracts with Customers” for further information. (2)Includes $1 million as of December 31, 2024 that was previously classified as “Assets held for sale” within Aon’s Annual Report on Form 10-K filed February 18, 2025. The prior year balance has been reclassified to conform to current year presentation. Other Non-Current Assets The components of Other non-current assets are as follows (in millions):
As of | March 31, 2025 |  | December 31, 2024
Costs to obtain contracts with customers (1) | $ | 208 |  |  | $ | 207 |
Investments | 97 |  |  | 90 |
Taxes receivable | 87 |  |  | 90 |
Other (2) (3) | 207 |  |  | 611 |
Total | $ | 599 |  |  | $ | 998 |
(1)Refer to Note 3 “Revenue from Contracts with Customers” for further information. (2)Includes $9 million as of December 31, 2024 that was previously classified as “Leases” within Aon’s Annual Report on Form 10-K filed February 18, 2025. The prior year balance has been reclassified to conform to current year presentation. (3)Includes $416 million as of December 31, 2024 of consideration paid into an escrow account related to the acquisition of Griffiths & Armour, which closed on January 1, 2025. Refer to Note 7 “Acquisitions and Dispositions of Businesses” for additional information. Other Current Liabilities The components of Other current liabilities are as follows (in millions):
As of | March 31, 2025 |  | December 31, 2024
Taxes payable | $ | 405 |  |  | $ | 260 |
Deferred revenue (1) | 361 |  |  | 280 |
Leases | 189 |  |  | 191 |
Contingent consideration | 62 |  |  | 93 |
Other | 1,114 |  |  | 949 |
Total | $ | 2,131 |  |  | $ | 1,773 |
(1)During the three months ended March 31, 2025, revenue of $230 million was recognized in the Condensed Consolidated Statements of Income. During the three months ended March 31, 2024, revenue of $179 million was recognized in the Condensed Consolidated Statements of Income. Other Non-Current Liabilities The components of Other non-current liabilities are as follows (in millions):
As of | March 31, 2025 |  | December 31, 2024
Taxes payable | $ | 914 |  |  | $ | 885 |
Contingent consideration | 140 |  |  | 104 |
Compensation and benefits | 57 |  |  | 61 |
Deferred revenue | 32 |  |  | 30 |
Other | 96 |  |  | 64 |
Total | $ | 1,239 |  |  | $ | 1,144 |

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