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v3.25.2

Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Schedule of Reportable Operating Segments, Consolidated Revenue and Segment Operating Income | The following tables include information about our reportable segments, including total segment revenue, consolidated revenue, segment operating income, and income before income taxes:
| Three Months Ended June 30,
| Risk Capital |  | Human Capital |  | Corporate/Eliminations |  | Total Consolidated
| 2025 |  | 2024 |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  | 2025 |  | 2024
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenue (1) | $2,866 |  | $2,650 |  | $1,291 |  | $1,125 |  | $(2) |  | $(15) |  | $4,155 |  | $3,760
Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Compensation and benefits | 1,541 |  | 1,390 |  | 796 |  | 710 |  | 23 |  | 30 |  | 2,360 |  | 2,130
Information technology | 88 |  | 93 |  | 45 |  | 39 |  | 3 |  | — |  | 136 |  | 132
Premises | 54 |  | 54 |  | 30 |  | 28 |  | 1 |  | — |  | 85 |  | 82
Other expenses (2) | 319 |  | 329 |  | 303 |  | 258 |  | 93 |  | 173 |  | 715 |  | 760
Total operating expenses | 2,002 |  | 1,866 |  | 1,174 |  | 1,035 |  | 120 |  | 203 |  | 3,296 |  | 3,104
Operating income | $864 |  | $784 |  | $117 |  | $90 |  | $(122) |  | $(218) |  | $859 |  | $656
Operating margin | 30.1% |  | 29.6% |  | 9.1% |  | 8.0% |  |  |  |  |  | 20.7% |  | 17.4%
Non-operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  |  |  |  |  |  |  |  |  |  |  | — |  | 31
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | (212) |  | (225)
Other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  | 56 |  | 236
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  | $703 |  | $698
| Six Months Ended June 30,
| Risk Capital |  | Human Capital |  | Corporate/Eliminations |  | Total Consolidated
| 2025 |  | 2024 |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  | 2025 |  | 2024
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenue (1) | $6,057 |  | $5,625 |  | $2,836 |  | $2,228 |  | $(9) |  | $(23) |  | $8,884 |  | $7,830
Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Compensation and benefits | 3,002 |  | 2,744 |  | 1,570 |  | 1,237 |  | 37 |  | 32 |  | 4,609 |  | 4,013
Information technology | 178 |  | 182 |  | 90 |  | 74 |  | 4 |  | — |  | 272 |  | 256
Premises | 106 |  | 104 |  | 59 |  | 49 |  | 2 |  | — |  | 167 |  | 153
Other expenses (2) | 710 |  | 626 |  | 597 |  | 391 |  | 209 |  | 270 |  | 1,516 |  | 1,287
Total operating expenses | 3,996 |  | 3,656 |  | 2,316 |  | 1,751 |  | 252 |  | 302 |  | 6,564 |  | 5,709
Operating income | $2,061 |  | $1,969 |  | $520 |  | $477 |  | $(261) |  | $(325) |  | $2,320 |  | $2,121
Operating margin | 34.0% |  | 35.0% |  | 18.3% |  | 21.4% |  |  |  |  |  | 26.1% |  | 27.1%
Non-operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  |  |  |  |  |  |  |  |  |  |  | 5 |  | 59
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | (418) |  | (369)
Other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  | 46 |  | 311
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  | $1,953 |  | $2,122
(1)Includes fiduciary investment income of $60 million and $125 million, respectively, in Risk Capital and less than $1 million and $2 million, respectively, in Human Capital for the three and six months ended June 30, 2025. Includes fiduciary investment income of $73 million and $151 million, respectively, in Risk Capital and $2 million and $3 million, respectively, in Human Capital for the three and six months ended June 30, 2024. (2)Includes expenses related to Depreciation of fixed assets, Amortization and impairment of intangible assets, Accelerating Aon United Program expenses, and Other general expenses.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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