Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2018	May 03, 2018
Document and Entity Information
Entity Registrant Name	Aon plc
Entity Central Index Key	0000315293
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		244,512,517
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q1

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue
Total revenue	$ 3,090	$ 2,381
Expenses
Compensation and benefits	1,616	1,469
Information technology	115	88
Premises	93	84
Depreciation of fixed assets	39	54
Amortization and impairment of intangible assets	110	43
Other general expenses	318	308
Total operating expenses	2,291	2,046
Operating income	799	335
Interest income	4	2
Interest expense	(70)	(70)
Other income (expense)	(15)	(2)
Income from continuing operations before income taxes	718	265
Income taxes	114	0
Net income from continuing operations	604	265
Net income from discontinued operations	6	40
Net income	610	305
Less: Net income attributable to noncontrolling interests	16	14
Net income attributable to Aon shareholders	$ 594	$ 291
Basic net income per share attributable to Aon shareholders
Basic net income (loss) per share attributable to Aon shareholders, continuing operations (in dollars per share)	$ 2.37	$ 0.95
Basic net income (loss) per share attributable to Aon shareholders, discontinued operations (in dollars per share)	0.02	0.15
Basic net income (loss) per share attributable to Aon shareholders (in dollars per share)	2.39	1.10
Diluted net income per share attributable to Aon shareholders
Diluted net income (loss) per share attributable to Aon shareholders, continuing operations (in dollars per share)	2.35	0.94
Diluted net income (loss) per share attributable to Aon shareholders, discontinued operations (in dollars per share)	0.02	0.15
Diluted net income (loss) per share attributable to Aon shareholders (in dollars per share)	2.37	1.09
Cash dividends per share paid on ordinary shares (in dollars per share)	$ 0.36	$ 0.33
Weighted average ordinary shares outstanding - basic (in shares)	248.5	264.8
Weighted average ordinary shares outstanding - diluted (in shares)	250.2	267.0

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 610	$ 305
Less: Net income attributable to noncontrolling interests	16	14
Net income attributable to Aon shareholders	594	291
Other comprehensive income (loss), net of tax:
Change in fair value of financial instruments	14	(2)
Foreign currency translation adjustments	247	147
Postretirement benefit obligation	48	18
Total other comprehensive income	309	163
Less: Other comprehensive income attributable to noncontrolling interests	3	1
Total other comprehensive income attributable to Aon shareholders	306	162
Comprehensive income (loss) attributable to Aon shareholders	$ 900	$ 453

Condensed Consolidated Statements of Financial Position (Unaudited) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
CURRENT ASSETS
Cash and cash equivalents	$ 597	$ 756
Short-term investments	118	529
Receivables, net	3,053	2,478
Fiduciary assets	10,738	9,625
Other current assets	609	289
Total Current Assets	15,115	13,677
Goodwill	8,550	8,358
Intangible assets, net	1,662	1,733
Fixed assets, net	578	564
Deferred tax assets	296	389
Prepaid pension	1,207	1,060
Other non-current assets	439	307
TOTAL ASSETS	27,847	26,088
CURRENT LIABILITIES
Accounts payable and accrued liabilities	1,545	1,961
Short-term debt and current portion of long-term debt	403	299
Fiduciary liabilities	10,738	9,625
Other current liabilities	972	870
Total Current Liabilities	13,658	12,755
Long-term debt	5,697	5,667
Deferred tax liabilities	243	127
Pension, other postretirement, and postemployment liabilities	1,759	1,789
Other non-current liabilities	1,105	1,102
TOTAL LIABILITIES	22,462	21,440
EQUITY
Ordinary shares - $0.01 nominal value Authorized: 750 shares (issued: 2018 - 245.2; 2017 - 247.6)	2	2
Additional paid-in capital	5,743	5,775
Retained earnings	2,747	2,302
Accumulated other comprehensive loss	(3,191)	(3,496)
TOTAL AON SHAREHOLDERS' EQUITY	5,301	4,583
Noncontrolling interests	84	65
TOTAL EQUITY	5,385	4,648
TOTAL LIABILITIES AND EQUITY	$ 27,847	$ 26,088

Condensed Consolidated Statements of Financial Position (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Common stock, nominal or par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, Authorized shares (in shares)	750,000,000	750,000,000
Common stock, issued shares (in shares)	245,200,000	247,600,000

Condensed Consolidated Statement of Shareholders' Equity (Unaudited) - USD ($) shares in Millions, $ in Millions	Total	Ordinary Shares and Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss, Net of Tax	Non- controlling Interests
Increase (Decrease) in Shareholders' Equity
Adoption of new accounting guidance	$ 49		$ 49
Balance at January 1, 2018	5,581	$ 5,580	3,856	$ (3,912)	$ 57
Beginning Balance (in shares) at Dec. 31, 2016		262.0
Beginning Balance at Dec. 31, 2016	5,532	$ 5,580	3,807	(3,912)	57
Increase (Decrease) in Shareholders' Equity
Net income	305		291		14
Shares issued - employee stock compensation plans (in shares)		1.9
Shares issued - employee stock compensation plans	(85)	$ (85)
Shares purchased (in shares)		(1.1)
Shares purchased	(126)		(126)
Share-based compensation expense	75	$ 75
Dividends to shareholders	(87)		(87)
Net change in fair value of financial instruments	(2)			(2)
Net foreign currency translation adjustments	147			146	1
Net postretirement benefit obligation	18			18
Ending Balance (in shares) at Mar. 31, 2017		262.8
Ending Balance at Mar. 31, 2017	5,826	$ 5,570	3,934	(3,750)	72
Increase (Decrease) in Shareholders' Equity
Adoption of new accounting guidance	492	0	493	(1)	0
Balance at January 1, 2018	$ 5,140	$ 5,777	2,795	(3,497)	65
Beginning Balance (in shares) at Dec. 31, 2017	247.6	247.6
Beginning Balance at Dec. 31, 2017	$ 4,648	$ 5,777	2,302	(3,496)	65
Increase (Decrease) in Shareholders' Equity
Net income	610		594		16
Shares issued - employee stock compensation plans (in shares)		1.5
Shares issued - employee stock compensation plans	(109)	$ (109)
Shares purchased (in shares)		(3.9)
Shares purchased	(553)		(553)
Share-based compensation expense	77	$ 77
Dividends to shareholders	(89)		(89)
Net change in fair value of financial instruments	14			14
Net foreign currency translation adjustments	247			244	3
Net postretirement benefit obligation	$ 48			48
Ending Balance (in shares) at Mar. 31, 2018	245.2	245.2
Ending Balance at Mar. 31, 2018	$ 5,385	$ 5,745	$ 2,747	$ (3,191)	$ 84

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 610	$ 305
Income from discontinued operations, net of income taxes	6	40
Adjustments to reconcile net income to cash provided by operating activities:
Loss from sales of businesses, net	1	2
Depreciation of fixed assets	39	54
Amortization and impairment of intangible assets	110	43
Share-based compensation expense	77	78
Deferred income taxes	26	(2)
Change in assets and liabilities:
Fiduciary receivables	(605)	337
Short-term investments — funds held on behalf of clients	(195)	(330)
Fiduciary liabilities	800	(7)
Receivables, net	(269)	38
Accounts payable and accrued liabilities	(439)	(390)
Restructuring reserves	(24)	99
Current income taxes	30	(56)
Pension, other postretirement and other postemployment liabilities	(53)	(41)
Other assets and liabilities	38	92
Cash provided by operating activities - continuing operations	140	182
Cash provided by operating activities - discontinued operations	0	58
CASH PROVIDED BY OPERATING ACTIVITIES	140	240
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from investments	17	25
Payments for investments	(11)	(9)
Net sale of short-term investments — non-fiduciary	415	94
Acquisition of businesses, net of cash acquired	(29)	(46)
Sale of businesses, net of cash sold	(1)	(2)
Capital expenditures	(45)	(34)
Cash provided by investing activities - continuing operations	346	28
Cash used for investing activities - discontinued operations	0	(15)
CASH PROVIDED BY INVESTING ACTIVITIES	346	13
CASH FLOWS FROM FINANCING ACTIVITIES
Share repurchase	(569)	(126)
Issuance of shares for employee benefit plans	(109)	(85)
Issuance of debt	808	992
Repayment of debt	(704)	(950)
Cash dividends to shareholders	(89)	(87)
Noncontrolling interests and other financing activities	0	(2)
Cash used for financing activities - continuing operations	(663)	(258)
Cash used for financing activities - discontinued operations	0	0
CASH USED FOR FINANCING ACTIVITIES	(663)	(258)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	18	25
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(159)	20
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	756	431
CASH AND CASH EQUIVALENTS AT END OF PERIOD	597	451
Supplemental disclosures:
Interest paid	58	58
Income taxes paid, net of refunds	$ 58	$ 58

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements and Notes thereto have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). The Condensed Consolidated Financial Statements include the accounts of Aon plc and all of its controlled subsidiaries (“Aon” or the “Company”). All intercompany accounts and transactions have been eliminated. The Condensed Consolidated Financial Statements include, in the opinion of management, all adjustments (consisting of normal recurring adjustments and reclassifications) necessary to present fairly the Company’s consolidated financial position, results of operations and cash flows for all periods presented. Certain information and disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017. The results for the three months ended March 31, 2018 are not necessarily indicative of operating results that may be expected for the full year ending December 31, 2018. Use of Estimates The preparation of the accompanying Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of reserves and expenses. These estimates and assumptions are based on management’s best estimates and judgments. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment. Management believes its estimates to be reasonable given the current facts available. Aon adjusts such estimates and assumptions when facts and circumstances dictate. Illiquid credit markets, volatile equity markets, and foreign currency exchange rate movements increase the uncertainty inherent in such estimates and assumptions. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Changes in estimates resulting from continuing changes in the economic environment would, if applicable, be reflected in the financial statements in future periods.

Accounting Principles and Practices

3 Months Ended

Mar. 31, 2018

Accounting Policies [Abstract]

Accounting Principles and Practices

Adoption of New Accounting Standards

Presentation of Net Periodic Pension and Postretirement Benefit Costs

In March 2017, the Financial Accounting Standards Board (“FASB”) issued new accounting guidance on the presentation of net periodic pension cost and net periodic postretirement benefit cost. The new guidance requires that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. It also requires the other components of net periodic pension cost and net periodic postretirement benefit cost to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented. Additionally, only the service cost component is eligible for capitalization, when applicable. The Company has applied the new guidance retrospectively for the presentation of the service cost component and the other components of net periodic pension cost and net periodic postretirement benefit cost in the Condensed Consolidated Statement of Income and prospectively, on and after the effective date, for the capitalization of the service cost component of net periodic pension costs and net periodic postretirement benefit cost in assets. The new guidance allows a practical expedient that permits an employer to use the amounts disclosed in its pension and other postretirement benefit plan note for the prior comparative periods as the estimation basis for applying the retrospective presentation requirements. The Company has not applied the practical expedient upon adoption of this guidance. The new guidance was effective for Aon in the first quarter of 2018. The adoption of this guidance had no impact on the net income of the Company.

Upon adoption of the guidance, the presentation of the results reflect a change in Operating income offset by an equal and offsetting change in Other income (expense) for the period ended March 31, 2017 as follows:



	Three Months Ended March 31, 2017
	As Reported			Adjustments			As Adjusted
Operating income ⁽¹⁾	$	343		$	(8	)	$	335
Other income (expense)	$	(10	)	$	8		$	(2	)


(1)	Reclassification from Operating income is recorded in Compensation and benefits.

Income Tax Consequences of Intercompany Transactions

In October 2016, the FASB issued new accounting guidance on the income tax consequences of intra-entity asset transfers other than inventory. The guidance requires that the seller and buyer recognize the consolidated current and deferred income tax consequences of a transaction in the period the transaction occurs rather than deferring to a future period and recognizing those consequences when the asset has been sold to an outside party or otherwise recovered through use (i.e. depreciated, amortized, or impaired). The Company has applied the new guidance on a modified retrospective basis with a cumulative effect adjustment to retained earnings as of the beginning of the period of adoption. The new guidance was effective for Aon in the first quarter of 2018. Upon the adoption of this guidance on January 1, 2018, the Company recognized an increase to Deferred tax assets of $23 million, an increase to Deferred tax liabilities of $12 million, and a decrease to Other non-current assets of $26 million on the Condensed Consolidated Statement of Financial Position through a cumulative adjustment of $15 million decrease to Retained earnings. For the three months ended March 31, 2018, the impact of adopting this standard on the Condensed Consolidated Statement of Income was insignificant.

Statement of Cash Flows

In August 2016, the FASB issued new accounting guidance on the classification of certain cash receipts and cash payments. Under the new guidance, an entity no longer has discretion to choose the classification for a number of transactions, including contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies, and distributions received from equity method investees. The new standard was effective for the Company in the first quarter of 2018. The adoption of this guidance had no impact on the Company’s Condensed Consolidated Statements of Cash Flows.

Financial Assets and Liabilities

In January 2016, the FASB issued new accounting guidance on recognition and measurement of financial assets and financial liabilities. The amendments in the new guidance make targeted improvements, which include the requirement to measure equity investments with readily determinable fair values at fair value through net income, simplification of the impairment assessment for equity investments without readily determinable fair values, adjustments to existing and additional disclosure requirements, and additional tax considerations. The Company applied the amendments by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption, with the exception of the amendments related to equity securities without readily determinable fair values, including disclosure requirements, which were applied prospectively. Upon the adoption of this guidance on January 1, 2018, the Company recognized an increase to Accumulated other comprehensive loss of $1 million on the Condensed Consolidated Statement of Financial Position through a cumulative adjustment of $1 million increase to Retained earnings. For the three months ended March 31, 2018, the impact of adopting this standard on the Condensed Consolidated Statement of Income was insignificant.

Revenue Recognition

In May 2014, the FASB issued a new accounting standard on revenue from contracts with customers (the “Standard” or “ASC 606”), which supersedes nearly all existing revenue recognition guidance under U.S. GAAP (“ASC 605”). The core principal of the Standard is that an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Standard also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments, changes in judgments, and assets recognized from costs incurred to obtain or fulfill a contract. Two methods of transition were permitted upon adoption: full retrospective and modified retrospective. The Company elected to apply the modified retrospective adoption approach to all contracts. Under this approach, prior periods were not restated. Rather, revenues and other disclosures for prior periods were provided in the notes to the financial statements as previously reported under ASC 605, and the cumulative effect of initially applying the guidance was recognized as an adjustment to Retained earnings.

The following summarizes the significant changes to the Company as a result of the adoption of ASC 606 on January 1, 2018.

•

The Company previously recognized revenue either at a point in time or over a period of time based on the transfer of value to customers or as the remuneration became determinable. Under ASC 606, the revenue related to certain brokerage services recognized over a period of time is recognized on the effective date of the associated policies when control of the policy transfers to the customer. As a result, revenue from these arrangements are typically recognized in earlier periods under ASC 606 in comparison to ASC 605, changing the timing and amount of revenue recognized for annual and interim periods. This change resulted in a significant shift in timing of interim revenue for the Reinsurance Solutions revenue line and, to a lesser extent, certain other brokerage services.

•

The Standard provides guidance on accounting for certain revenue-related costs including when to capitalize costs associated with obtaining and fulfilling a contract. The majority of these costs were previously expensed as incurred under ASC 605. Assets recognized for the costs to obtain a contract, which includes certain sales commissions, are amortized on a systematic basis that is consistent with the transfer of the services to which the asset relates, considering anticipated renewals when applicable. For situations where the renewal period is one year or less and renewal costs are commensurate with the initial contract, the Company applied a practical expedient and recognizes the costs of obtaining a contract as an expense when incurred. Assets recognized as costs to fulfill a contract, which includes internal costs related to pre-placement broking activities, as well as other costs, are amortized on a systematic basis that is consistent with the transfer of the services to which the asset relates, which is generally less than one year.

As a result of applying the modified retrospective method to adopt ASC 606, the following adjustments were made to the Condensed Consolidated Statement of Financial position as of January 1, 2018:



	December 31, 2017					January 1, 2018
(millions)	As Reported		Adjustments			As Adjusted
ASSETS
Receivables, net	$	2,478	$	252		$	2,730
Other current assets	$	289	$	298		$	587
Deferred tax assets	389		(128		)	261
Other non-current assets	$	307	$	145		$	452

LIABILITIES
Accounts payable and accrued liabilities	$	1,961	$	8		$	1,969
Other current liabilities	$	870	$	13		$	883
Deferred tax liabilities	$	127	$	42		$	169
Other non-current liabilities	$	1,102	$	(3	)	$	1,099

EQUITY
Total equity	$	4,648	$	507		$	5,155

The following tables summarize the impacts of adopting ASC 606 on the Company’s Condensed Consolidated Statement of Income, Financial Position, and Cash Flows as of and for the three months ended March 31, 2018.

Condensed Consolidated Statement of Income



	Three Months Ended March 31, 2018
(millions)	As Reported			Adjustments			Balances Without Adoption of ASC 606
Revenue
Total revenue	$	3,090		$	(413	)	$	2,677
Expenses
Compensation and benefits	$	1,616		$	(65	)	$	1,551
Other income (expense)	$	(15	)	$	1		$	(14	)
Income taxes	$	114		$	(82	)	$	32

Adoption of ASC 606 for the first quarter of 2018 was an impact of $265 million on net income from continuing operations, or $1.06 per share.

Condensed Consolidated Statement of Financial Position



	As of March 31, 2018
(millions)	As Reported		Adjustments			Balances Without Adoption of ASC 606
ASSETS
Receivables, net	$	3,053	$	(644	)	$	2,409
Other current assets	$	609	$	(239	)	$	370
Deferred tax assets	$	296	$	130		$	426
Other non-current assets	$	439	$	(143	)	$	296

LIABILITIES
Other current liabilities	$	972	$	(52	)	$	920
Deferred tax liabilities	$	243	$	(68	)	$	175
Other non-current liabilities	$	1,105	$	3		$	1,108

EQUITY
Total equity	$	5,385	$	(779	)	$	4,606

Condensed Consolidated Statement of Cash Flows



	Three Months Ended March 31, 2018
(millions)	As Reported			Adjustments			Balances Without Adoption of ASC 606
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	610		$	(265	)	$	345
Deferred income taxes	$	26		$	(28	)	$	(2	)
Receivables, net	$	(269	)	$	400		$	131
Accounts payable and accrued liabilities	$	(439	)	$	8		$	(431	)
Current income taxes	$	30		$	(54	)	$	(24	)
Other assets and liabilities	$	38		$	(61	)	$	(23	)

The adoption of ASC 606 had no impact on total Cash Provided by Operating Activities.

Refer to Note 3 “Revenue from Contracts with Customers” to the Condensed Consolidated Financial Statements for further information.

Accounting Standards Issued But Not Yet Adopted

Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income

In February 2018, the FASB issued amendments related to reclassification of certain tax effects from accumulated other comprehensive income. The amendments allow a reclassification from accumulated comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. In addition, the entity is required to provide certain disclosures regarding stranded tax effects. The amendments are effective for Aon in the first quarter of 2019 and early adoption is permitted, including adoption in any interim period. The amendments should be applied either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act is recognized. The Company is currently evaluating the impact that the amendments will have on the Condensed Consolidated Financial Statements and the period in which it plans to adopt.

Targeted Improvements to Accounting for Hedging Activities

In August 2017, the FASB issued new accounting guidance on targeted improvements to accounting for hedging activities. The new guidance amends its hedge accounting model to enable entities to better portray their risk management activities in the financial statements. The guidance eliminates the requirement to separately measure and report hedge ineffectiveness and requires the effect of a hedging instrument to be presented in the same income statement line as the hedged item. An entity will apply the new guidance on a modified retrospective basis with a cumulative effect adjustment to accumulated other comprehensive income with a corresponding adjustment to retained earnings as of the beginning of the period of adoption. Changes to income statement presentation and financial statement disclosures will be applied prospectively. The new guidance is effective for Aon in the first quarter of 2019 and early adoption is permitted. The Company is currently evaluating the impact that the standard will have on the Condensed Consolidated Financial Statements and the period in which it plans to adopt.

Simplifying the Test for Goodwill Impairment

In January 2017, the FASB issued new accounting guidance on simplifying the test for goodwill impairment. Currently the standard requires an entity to perform a two-step test to determine the amount, if any, of goodwill impairment. In Step 1, an entity compares the fair value of a reporting unit with its carrying amount, including goodwill. If the carrying amount of the reporting unit exceeds its fair value, the entity performs Step 2 and compares the implied fair value of goodwill with the carrying amount of that goodwill for that reporting unit. An impairment charge equal to the amount by which the carrying amount of goodwill for the reporting unit exceeds the implied fair value of that goodwill is recorded, limited to the amount of goodwill allocated to that reporting unit. The new guidance removes Step 2. An entity will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit’s carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The new guidance does not amend the optional qualitative assessment of goodwill impairment. An entity will apply the new guidance on a prospective basis. The new guidance is effective for Aon in the first quarter of 2020 and early adoption is permitted. The Company is currently evaluating the impact that the standard will have on the Condensed Consolidated Financial Statements and the period in which it plans to adopt.

Credit Losses

In June 2016, the FASB issued new accounting guidance on the measurement of credit losses on financial instruments. The new guidance replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. An entity will apply the new guidance through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The guidance is effective for Aon in the first quarter of 2020 and early adoption is permitted beginning in the first quarter of 2019. Aon is currently evaluating the impact that the standard will have on its Condensed Consolidated Financial Statements, as well as the method of transition and period of adoption.

Leases

In February 2016, the FASB issued new accounting guidance on leases, which requires lessees to recognize assets and liabilities for most leases. Under the new guidance, a lessee should recognize in the Condensed Consolidated Statement of Financial Position a liability to make lease payments and a right-of-use asset representing its right to use the underlying asset for the lease term. The recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee have not significantly changed from current U.S. GAAP standards. The new standard will be effective for the Company in the first quarter of 2019, with early application permitted. In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The modified retrospective approach includes a number of optional practical expedients that entities may elect to apply. These practical expedients relate to the identification and classification of leases that commenced before the effective date, initial direct costs for leases that commenced before the effective date, and the ability to use hindsight in evaluating lessee options to extend or terminate a lease or to purchase the underlying asset. The Company is currently evaluating the period of adoption.

A preliminary assessment to determine the impacts of the new accounting standard has been performed, including its impact on accounting and operational processes. The Company expects to recognize significant right of use assets and lease liabilities on its Condensed Consolidated Statements of Financial Position, but is unable to provide quantitative impacts at this time. Additionally, the Company expects to expand its disclosures around lease arrangements. The Company expects to adopt the new accounting standard in the first quarter of 2019 and is currently evaluating the practical expedients that will be applied.

Revenue from Contracts with Customers

3 Months Ended

Mar. 31, 2018

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

The Company generates revenues primarily through commissions, compensation from insurance and reinsurance companies for services provided to them, and fees from clients. Commissions and fees for brokerage services vary depending upon several factors, which may include the amount of premium, the type of insurance or reinsurance coverage provided, the particular services provided to a client, insurer, or reinsurer, and the capacity in which we act. Compensation from insurance and reinsurance companies includes fees for consulting and analytics services and fees and commissions for administrative and other services provided to or on behalf of insurers. Fees from clients for advice and consulting services are dependent on the extent and value of the services provided. Payment terms are consistent with current industry practices.

The Company recognizes revenue when control of the promised services are transfered to the customer in the amount that best reflects the consideration to which the Company expects to be entitled in exchange for those services. For arrangements where control is transferred over time, an input or output method is applied that represents a faithful depiction of the progress towards completion of the performance obligation. For arrangements that include variable consideration, the Company assesses whether any amounts should be constrained. For arrangements that include multiple performance obligations, the Company allocates consideration based on their relative fair values.

Costs incurred by the Company in obtaining a contract are capitalized and amortized on a systematic basis that is consistent with the transfer of the services to which the asset relates, considering anticipated renewals when applicable. Certain contract related costs, including pre-placement brokerage costs, are capitalized as a cost to fulfill and are amortized on a systematic basis consistent with the transfer of services to which the asset relates, which is generally less than one year.

The Company has elected to apply practical expedients to not disclose the revenue related to unsatisfied performance obligations if 1) the contract has an original duration of 1 year or less, 2) the Company has recognized revenue for the amount in which it has the right to bill, and 3) the variable consideration is allocated entirely to an unsatisfied performance obligation which is recognized as a series of distinct goods or services that form a single performance obligation.

Disaggregation of Revenue

The following is a description of principal service lines from which the Company generates its revenue:

Commercial Risk Solutions includes retail brokerage, cyber solutions, global risk consulting, and captives. Revenue primarily includes insurance commissions and fees for services rendered. Revenues will generally be recognized at a point in time upon the effective date of the underlying policy (or policies), or over the term of the arrangement to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. Revenues are recorded net of allowances for estimated policy cancellations, which are determined based on an evaluation of historical and current cancellation data.

Reinsurance Solutions includes treaty and facultative reinsurance brokerage and capital markets. Revenue primarily includes reinsurance commissions and fees for services rendered. Revenues will generally be recognized at a point in time upon the effective date of the underlying policy (or policies), or over the term of the arrangement to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services.

Retirement Solutions includes core retirement, investment consulting, and talent, rewards & performance. Revenue consists primarily of fees paid by clients for consulting services, such as risk management strategies, health and benefits, and human capital consulting services. Revenue recognized for these arrangements are typically recognized at a point-in-time upon completion of the service or over time to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. For consulting arrangements recognized over-time, revenue will be recognized based on a measure of progress that depicts the transfer of control of the goods or services to the customer, utilizing an appropriate input or output measure. Fees paid by clients for consulting services are typically charged on an hourly, project or fixed-fee basis. Revenues from time-and-materials or cost-plus arrangements are recognized as services are performed. Reimbursements received for out-of-pocket expenses are recorded as a component of revenues.

Health Solutions includes health and benefits brokerage and healthcare exchanges. Revenue primarily includes insurance commissions and fees for services rendered. For brokerage commissions, revenue is typically recognized at the effective date of the underlying policy (or policies), or over the term of the arrangement to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. Revenues from health care exchange arrangements are typically recognized upon successful enrollment of participants, net of a reserve for estimated cancellations, assuming all five steps to recognize revenue have been met.

Data & Analytic Services includes Affinity, Aon InPoint, and ReView. Revenue consists primarily of fees for services rendered and is generally recognized over the term of the arrangement to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. For Data & Analytic Services arrangements recognized over-time, revenue will be recognized based on a measure of progress that depicts the transfer of control of the goods or services to the customer, utilizing an appropriate input or output measure.

The following table summarizes revenue from contracts with customers by principal service line (in millions):



	Three months ended March 31, 2018
Commercial Risk Solutions	$	1,184
Reinsurance Solutions	742
Retirement Solutions	424
Health Solutions	451
Data & Analytic Services	294
Elimination	(5		)
Total revenue	$	3,090

Consolidated Revenue 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, 2018
United States	$	1,116
Americas other than United States	237
United Kingdom	484
Europe, Middle East, & Africa other than United Kingdom	979
Asia Pacific	274
Total revenue	$	3,090

Contract Costs

The Company recognizes an asset for costs incurred to fulfill a contract for costs that are specifically identified and relate to a contract or anticipated contract, generate or enhance resources used in satisfying the Company’s performance obligations, and are expected to be recovered. Assets recognized as costs to fulfill a contract, which includes internal costs related to pre-placement broking activities, as well as other costs, will be amortized on a systematic basis that is consistent with the transfer of the services to which the asset relates. The amortization is primarily included in Compensation and benefits on the Condensed Consolidated Statements of Income.

The changes in the net carrying amount of capitalized cost to fulfill contracts with customers are as follows (in millions):



	Three months ended March 31, 2018
Balance at beginning of period	$	298
Additions	370
Amortization	(432		)
Impairment	—
Foreign currency translation and other	4
Balance at end of period	$	240

The Company capitalizes incremental costs to obtain a contract with a customer that are expected to be recovered. Assets recognized for the costs to obtain a contract, which includes certain sales commissions, will be amortized on a systematic basis that is consistent with the transfer of the services to which the asset relates, considering anticipated renewals when applicable. For situations where the renewal period is one year or less and renewal costs are commensurate with the initial contract, the Company has applied a practical expedient and recognized the costs of obtaining a contract as an expense when incurred. The amortization is included in Compensation and benefits on the Condensed Consolidated Statements of Income.

The changes in the net carrying amount of capitalized cost to obtain contracts with customers are as follows (in millions):



	Three months ended March 31, 2018
Balance at beginning of period	$	145
Additions	8
Amortization	(10		)
Impairment	—
Foreign currency translation and other	1
Balance at end of period	$	144

Discontinued Operations

3 Months Ended

Mar. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

On February 9, 2017, the Company entered into a Purchase Agreement with Tempo Acquisition, LLC (the “Purchase Agreement”) to sell its benefits administration and business process outsourcing business (the “Divested Business”) to an entity formed and controlled by affiliates of The Blackstone Group L.P. (the “Buyer”) and certain designated purchasers that are direct or indirect subsidiaries of the Buyer.

On May 1, 2017, the Buyer purchased all of the outstanding equity interests of the Divested Business, plus certain related assets and liabilities, for a purchase price of $4.3 billion in cash paid at closing, subject to customary adjustments set forth in the Purchase Agreement, and deferred consideration of up to $500 million (the “Transaction”). Cash proceeds after customary adjustments and before taxes due were $4.2 billion.

Aon and the Buyer entered into certain transaction related agreements at the closing, including two commercial agreements, a transition services agreement, certain intellectual property license agreements, sub-leases, and other customary agreements. Aon expects to continue to be a significant client of the Divested Business and the Divested Business has agreed to use Aon for its broking and other services for a specified period of time.

The financial results of the Divested Business for the three months ended March 31, 2018 and 2017 are presented as Income from discontinued operations on the Company’s Condensed Consolidated Statements of Income. The following table presents the financial results of the Divested Business (in millions):



	Three months ended March 31
	2018			2017
Revenue
Total revenue	$	—		$	527
Expenses
Total operating expenses	3			470
Income (loss) from discontinued operations before income taxes	(3		)	57
Income tax expense (benefit)	(1		)	17
Income (loss) from discontinued operations excluding gain, net of tax	(2		)	40
Gain on sale of discontinued operations, net of tax	8			—
Net income from discontinued operations	$	6		$	40

Upon triggering held for sale criteria in February 2017, Aon ceased depreciating and amortizing all long-lived assets included in discontinued operations. No depreciation or amortization expense was recognized during the three months ended March 31, 2018. Total operating expenses for the three months ended March 31, 2017 include $8 million of depreciation of fixed assets and $11 million of intangible asset amortization.

The Company’s Condensed Consolidated Statements of Cash Flows present the operating, investing, and financing cash flows of the Divested Business as discontinued operations. Aon uses a centralized approach to cash management and financing of its operations. Prior to the closing of the Transaction, portions of the Divested Business’s cash were transferred to Aon daily, and Aon would fund the Divested Business as needed. Cash and cash equivalents of discontinued operations at March 31, 2017 was $18 million. Total proceeds received for the sale of the divested business and taxes paid as a result of the sale are recognized on the Consolidated Statements of Cash Flows in Cash provided by investing activities - continuing operations and Cash provided by operating activities - continuing operations, respectively.

Cash and Cash Equivalents and Short-term Investments	3 Months Ended
Cash and Cash Equivalents and Short-term Investments	Mar. 31, 2018
Cash, Cash Equivalents, and Short-term Investments [Abstract]
Cash and Cash Equivalents and Short-term Investments	Cash and Cash Equivalents and Short-term Investments Cash and cash equivalents include cash balances and all highly liquid instruments with initial maturities of three months or less. Short-term investments consist of money market funds. The estimated fair value of cash and cash equivalents and short-term investments approximates their carrying values. At March 31, 2018, Cash and cash equivalents and Short-term investments were $715 million compared to $1,285 million at December 31, 2017, a decrease of $570 million. Of the total balances, $102 million and $96 million was restricted as to its use at March 31, 2018 and December 31, 2017, respectively. Included within the March 31, 2018 and December 31, 2017 balances, respectively, was £42.7 million ($60.8 million at March 31, 2018 exchange rates and $57.1 million at December 31, 2017 exchange rates) of operating funds required to be held by the Company in the United Kingdom by the Financial Conduct Authority, a U.K.-based regulator, which were included in Short-term investments.

Other Financial Data

3 Months Ended

Mar. 31, 2018

Other Financial Data [Abstract]

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
	2018			2017
Foreign currency remeasurement gain (loss)	$	(16	)	$	(10	)
Loss on disposal of business	(1		)	(2		)
Pension and other postretirement income	2			8
Equity earnings (losses)	1			6
Gain (loss) on financial instruments	—			(4		)
Other	(1		)	—
Total	$	(15	)	$	(2	)

Condensed Consolidated Statements of Financial Position Information

Allowance for Doubtful Accounts

An analysis of the allowance for doubtful accounts are as follows (in millions):



	Three months ended March 31
	2018			2017
Balance at beginning of period	$	59		$	56
Provision charged to Other general expenses	8			6
Accounts written off, net of recoveries	(3		)	(3		)
Foreign currency translation	1			2
Balance at end of period	$	65		$	61

Other Current Assets

The components of Other current assets are as follows (in millions):



As of	March 31, 2018		December 31, 2017
Taxes receivable	$	118	$	114
Prepaid expenses	142		126
Receivables from the Divested Business ⁽¹⁾	6		28
Cost to fulfill contracts with customers ⁽²⁾	240		—
Other	103		21
Total	$	609	$	289


(1)	Refer to Note 4 “Discontinued Operations” for additional information.


(2)	Refer to Note 3 “Revenue from Contracts with Customers” for additional information.

Other Non-Current Assets

The components of Other non-current assets are as follows (in millions):



As of	March 31, 2018		December 31, 2017
Investments	$	58	$	57
Taxes receivable	83		84
Cost to obtain contracts with customers ⁽¹⁾	144		—
Other	154		166
Total	$	439	$	307


(1)	Refer to Note 3 “Revenue from Contracts with Customers” for additional information.

Other Current Liabilities

The components of Other current liabilities are as follows (in millions):



As of	March 31, 2018		December 31, 2017
Deferred revenue ⁽¹⁾	$	329	$	311
Taxes payable ⁽²⁾	164		139
Other	479		420
Total	$	972	$	870


(1)	During the three months ended March 31, 2018, $100 million was recognized in the Condensed Consolidated Statement of Income.


(2)	Includes a provisional estimate of $42 million for the current portion of the Transition Tax as of March 31, 2018 and December 31, 2017.

Other Non-Current Liabilities

The components of Other non-current liabilities are as follows (in millions):



As of	March 31, 2018		December 31, 2017
Taxes payable ⁽¹⁾	$	538	$	529
Deferred revenue	56		49
Leases	156		153
Compensation and benefits	62		67
Other	293		304
Total	$	1,105	$	1,102

(1) Includes a provisional estimate of $222 million for the non-current portion of the Transition Tax as of March 31, 2018 and December 31, 2017.

Acquisitions and Dispositions of Businesses

3 Months Ended

Mar. 31, 2018

Business Combinations [Abstract]

Acquisitions and Dispositions of Businesses

Acquisitions

The Company completed three acquisitions during the three months ended March 31, 2018 and seventeen acquisitions during the twelve months ended December 31, 2017. 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):



	Three months ended March 31, 2018
Cash	$	26
Deferred and contingent consideration	3
Aggregate consideration transferred	$	29

Assets acquired:
Receivables, net	2
Goodwill	12
Intangible assets, net	16
Other assets	3
Total assets acquired	33
Liabilities assumed:
Current liabilities	4
Total liabilities assumed	4
Net assets acquired	$	29

The results of operations of these acquisitions are included in the Condensed Consolidated 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.

2018 Acquisitions

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.

2017 Acquisitions

On December 29, 2017, the Company completed the transaction to acquire the Townsend Group, a U.S.-based provider of global investment management and advisory services primarily focused on real estate.

On December 29, 2017, the Company completed the transaction to acquire Baltolink UADBB, a regional broker based in Lithuania.

On December 19, 2017, the Company completed the transaction to acquire a client register of Grant Liddell Financial Advisor Services Pty Ltd in Australia.

On December 1, 2017, the Company completed the transaction to acquire Henderson Insurance Brokers Limited, an independent insurance broking firm based in the United Kingdom.

On November 30, 2017, the Company completed the transaction to acquire Unidelta AG, an insurance broker located in Switzerland.

On October 31, 2017, the Company completed the transaction to acquire Unirobe Meeùs Groep, an insurance broker based in the Netherlands.

On October 31, 2017, the Company completed the transaction to acquire Lenzi Paolo Broker di Assicurazioni S.r.l., an insurance broker based in Italy.

On October 26, 2017, the Company completed the transaction to acquire Nauman Insurance Brokers Limited, an insurance broker based in New Zealand.

On October 2, 2017, the Company completed the transaction to acquire Portus Consulting, an independent employee benefits firm based in the United Kingdom.

On August 31, 2017, the Company completed the transaction to acquire Mark Kelly Insurance and Financial Services PTY LTD, an Australia-based broker servicing the insurance needs of commercial clients in and around the Townsville regional center.

On August 28, 2017, the Company completed the transaction to acquire a certain portfolio in the Charlotte office of The Hays Group, Inc. d/b/a Hays Companies.

On July 27, 2017, the Company completed the transaction to acquire Grupo Innovac Sociedad de Correduría de Seguros, S.A, an insurance broker based in Valencia, Spain.

On July 3, 2017, the Company completed the transaction to acquire PWZ AG, an independent insurance broker based in Zurich, Switzerland.

On May 31, 2017, the Company completed the transaction to acquire SchneiderGolling IFFOXX Assekuranzmakler AG and SchneiderGolling Industrie Assekuranzmaklergesellschaft mbH from SchneiderGolling Gruppe, a property and casualty broker based in Southern Germany.

On May 2, 2017, the Company completed the transaction to acquire cut-e Assessment Global Holdings Limited, a high-volume online psychometric assessments provider based in Ireland.

On March 3, 2017, the Company completed the transaction to acquire Finaccord Limited, a market research, publishing and consulting company based in the United Kingdom.

On January 19, 2017, the Company completed the transaction to acquire VERO Management AG, an insurance broker and risk advisor based in Austria.

Dispositions

The Company completed no dispositions during the three months ended March 31, 2018 and three dispositions during the three months ended March 31, 2017.

Total pretax losses recognized were $1 million for the three months ended March 31, 2018 related to prior period transactions. Total pretax losses recognized were $2 million for the three months ended March 31, 2017. Gains and losses recognized as a result of a disposition are included in Other income (expense) in the Condensed Consolidated Statements of Income.

Restructuring

3 Months Ended

Mar. 31, 2018

Restructuring and Related Activities [Abstract]

Restructuring

In 2017, Aon initiated a global restructuring plan (the “Restructuring Plan”) in connection with the sale of the Divested Business. The Restructuring Plan is intended to streamline operations across the organization and deliver greater efficiency, insight, and connectivity. The Company expects these restructuring activities and related expenses to affect continuing operations through 2019, including an estimated 4,200 to 4,800 role eliminations. The Restructuring Plan is expected to result in cumulative costs of approximately $1,025 million through the end of the plan, consisting of approximately $450 million in employee termination costs, $130 million in technology rationalization costs, $85 million in lease consolidation costs, $50 million in non-cash asset impairments, and $310 million in other costs, including certain separation costs associated with the sale of the Divested Business.

From the inception of the Restructuring Plan through March 31, 2018, the Company has eliminated 3,123 positions and incurred total expenses of $571 million for restructuring and related separation costs. These charges are included in Compensation and benefits, Information technology, Premises, Depreciation of fixed assets, and Other general expenses in the accompanying Condensed Consolidated Statements of Income.

The following table summarizes restructuring and separation costs by type that have been incurred through March 31, 2018 and are estimated to be incurred through the end of the Restructuring Plan (in millions). Estimated costs may be revised in future periods as these assumptions are updated:



	Three months ended March 31, 2018		Inception to Date		Estimated Remaining Costs		Estimated Total Cost ⁽¹⁾
Workforce reduction	$	33	$	332	$	118	$	450
Technology rationalization ⁽²⁾	10		43		87		130
Lease consolidation ⁽²⁾	3		11		74		85
Asset impairments	1		27		23		50
Other costs associated with restructuring and separation ^{(2) (3)}	27		158		152		310
Total restructuring and related expenses	$	74	$	571	$	454	$	1,025

(1)

Actual costs, when incurred, may vary due to changes in the assumptions built into the Restructuring Plan. Significant assumptions that may change when plans are finalized and implemented include, but are not limited to, changes in severance calculations, changes in the assumptions underlying sublease loss calculations due to changing market conditions, and changes in the overall analysis that might cause the Company to add or cancel component initiatives.

(2)

Contract termination costs included within Technology rationalization were $1 million for the three months ended March 31, 2018 and $2 million since inception. Contract termination costs included within Lease consolidations were $2 million for the three months ended March 31, 2018 and $10 million since inception. Contract termination costs included within Other costs associated with restructuring and separation were $4 million for the three months ended March 31, 2018 and $7 million since inception. Total estimated contract termination costs to be incurred under the Restructuring Plan associated with Technology rationalizations, Lease consolidations, and Other costs associated with restructuring and separation, respectively, are $15 million, $80 million, and $80 million.


(3)	Other costs associated with the Restructuring Plan include those to separate the Divested Business, as well as moving costs, and consulting and legal fees. These costs are generally recognized when incurred.

The changes in the Company’s liabilities for the Restructuring Plan as of March 31, 2018 are as follows (in millions):




Balance as of December 31, 2017	$	186
Expensed	74
Cash payments	(98		)
Foreign currency translation and other	(2		)
Balance as of March 31, 2018	$	160

Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

The changes in the net carrying amount of goodwill for the three months ended March 31, 2018 are as follows (in millions):



Balance as of December 31, 2017	$	8,358
Goodwill related to current year acquisitions	12
Goodwill related to prior year acquisitions	4
Foreign currency translation and other	176
Balance as of March 31, 2018	$	8,550

Other intangible assets by asset class are as follows (in millions):



	March 31, 2018						December 31, 2017
	Gross Carrying Amount		Accumulated Amortization and Impairment		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization and Impairment		Net Carrying Amount
Customer related and contract based	$	2,615	$	1,496	$	1,119	$	2,550	$	1,415	$	1,135
Tradenames	1,052		589		463		1,047		533		514
Technology and other	426		346		80		416		332		84
Total	$	4,093	$	2,431	$	1,662	$	4,013	$	2,280	$	1,733

In the second quarter of 2017 and in connection with the completion of the sale of the Divested Business, the Company recognized a non-cash impairment charge to the associated tradenames of $380 million. The fair value of the tradenames was determined using the Relief from Royalty Method. This impairment was included in Amortization and impairment of intangible assets on the Condensed Consolidated Statement of Income.

The estimated future amortization for finite lived intangible assets as of March 31, 2018 is as follows (in millions):



Remainder of 2018	$	332
2019	430
2020	252
2021	151
2022	101
Thereafter	396
Total	$	1,662

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Debt

3 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Debt

Notes

On March 8, 2018, the Company’s CAD 375 million ($291 million at March 8, 2018 Exchange Rates) 4.76% Senior Note due March 2018 issued by a Canadian subsidiary of Aon Corporation matured and were repaid in full.

Revolving Credit Facilities

As of March 31, 2018, Aon plc had two primary committed credit facilities outstanding: its $900 million multi-currency U.S. credit facility expiring in February 2021 (the “2021 Facility”) and its $400 million multi-currency U.S. credit facility expiring in October 2022 (the “2022 Facility”).

Each of these facilities includes customary representations, warranties and covenants, including financial covenants that require Aon to maintain specified ratios of adjusted consolidated earnings before interest, taxes, depreciation, and amortization (“EBITDA”) to consolidated interest expense and consolidated debt to adjusted consolidated EBITDA, in each case, tested quarterly. At March 31, 2018, Aon did not have borrowings under the 2021 Facility or the 2022 Facility, and was in compliance with all covenants contained therein during the three months ended March 31, 2018.

Commercial Paper

Aon Corporation, a wholly-owned subsidiary of Aon plc, has established a U.S. commercial paper program and Aon plc has established a European multi-currency commercial paper program (collectively, the “CP Programs”). Commercial paper may be issued in aggregate principal amounts of up to $900 million under the U.S. program and €300 million under the European program , not to exceed the amount of committed credit, which was $1.3 billion at March 31, 2018. The U.S. commercial paper program is fully and unconditionally guaranteed by Aon plc and the European commercial paper program is fully and unconditionally guaranteed by Aon Corporation.

Commercial paper outstanding, which is included in Short-term debt and current portion of long-term debt in the Company’s Condensed Consolidated Statements of Financial Position, is as follows (in millions):



As of	March 31, 2018		December 31, 2017
Commercial paper outstanding	$	399	$	—

The weighted average commercial paper outstanding and its related interest rates are as follows (in millions except percentages):



	Three months ended March 31
	2018			2017
Weighted average commercial paper outstanding	$	125		$	367
Weighted average interest rate of commercial paper outstanding	(0.50		)%	0.12		%

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rate on net income from continuing operations was 15.9% for the three months ended March 31, 2018. The effective tax rate on net income from continuing operations was 0.1% for the three months ended March 31, 2017. For the three months ended March 31, 2018, the tax rate was primarily driven by the geographical distribution of income, changes to tax laws as a result of the Tax Cuts and Jobs Act (“U.S. Tax Reform”), and certain discrete items including the impact of share-based payments and the recognition of previously unrecognized tax benefits related to the statute of limitations expiration following an audit. For the three months ended March 31, 2017, the tax rate was primarily driven by the geographical distribution of income, including the estimated impact of the Restructuring Program and accelerated amortization of tradenames, and the impact of share-based payments. On December 22, 2017, U.S. Tax Reform was enacted which significantly changed U.S. corporate income tax laws. Also on December 22, 2017, the SEC staff issued Staff Accounting Bulletin No. 118 (“SAB 118”) to address the application of U.S. GAAP in situations when a registrant did not have the necessary information available, prepared, or analyzed in reasonable detail to complete the accounting for certain income tax effects of U.S. Tax Reform in the period of enactment. SAB 118 allowed registrants to record provisional amounts during a one year measurement period. In the fourth quarter of 2017, a net provisional charge of $345 million was recorded which included the transition tax, the re-measurement of existing deferred tax balances, as well as local country income taxes, state income taxes and withholding taxes expected to be due upon repatriation of the earnings subject to the transition tax. In addition, the Company was unable to estimate the allocation between continuing and discontinued operations of the tax benefit from foreign tax credits generated in 2017 and related valuation allowance release. In the first quarter of 2018, the Company continued to analyze the impacts of U.S. Tax Reform and did not record any significant adjustments to its provisional estimates. The Company will finalize the provisional estimates by the end of 2018 after completing its reviews, analyzing guidance issued during the measurement period, and evaluating the local tax rules where the Company has pools of undistributed earnings within our complex legal entity structure.

Shareholders' Equity

3 Months Ended

Mar. 31, 2018

Equity [Abstract]

Shareholders' Equity

Shareholders’ Equity

Ordinary Shares

Aon has a share repurchase program authorized by the Company’s Board of Directors (the “Repurchase Program”). The Repurchase Program was established in April 2012 with up to $5.0 billion in authorized repurchases, and was increased by $5.0 billion in authorized repurchases in each of November 2014 and February 2017 for a total of $15.0 billion in repurchase authorizations.

Under the Repurchase Program, Class A Ordinary Shares may be repurchased through the open market or in privately negotiated transactions, from time to time, based on prevailing market conditions, and will be funded from available capital.

In the three months ended March 31, 2018, the Company repurchased 3.9 million shares at an average price per share of $140.94, for a total cost of approximately $550 million and recorded an additional $2.8 million of costs associated with the repurchases to retained earnings. In the three months ended March 31, 2017, the Company repurchased 1.1 million shares at an average price per share of $114.46 for a total cost of approximately $125 million and recorded an additional $0.6 million of costs associated with the repurchases to retained earnings.

At March 31, 2018, the remaining authorized amount for share repurchase under the Repurchase Program was $4.9 billion. Under the Repurchase Program, the Company has repurchased a total of 112.1 million shares for an aggregate cost of approximately $10.1 billion.

Net Income Per Share

Weighted average ordinary shares outstanding are as follows (in millions):



	Three months ended March 31
	2018	2017
Basic weighted average ordinary shares outstanding	248.5	264.8
Dilutive effect of potentially issuable shares	1.7	2.2
Diluted weighted average ordinary shares outstanding	250.2	267.0

Potentially issuable shares are not included in the computation of diluted net income per share if their inclusion would be antidilutive. There were 0.1 million shares excluded from the calculation for the three months ended March 31, 2018 and no shares excluded from the calculation for the three months ended March 31, 2017.

Accumulated Other Comprehensive Loss

Changes in Accumulated other comprehensive loss by component, net of related tax, are as follows (in millions):



	Change in Fair Value of Financial Instruments ⁽¹⁾			Foreign Currency Translation Adjustments			Post-Retirement Benefit Obligation ⁽²⁾			Total
Balance at December 31, 2017	$	(25	)	$	(879	)	$	(2,592	)	$	(3,496	)
Adoption of new accounting guidance ⁽³⁾	(1		)	—			—			(1		)
Balance at January 1, 2018	(26		)	(879		)	(2,592		)	(3,497		)
Other comprehensive income before reclassifications, net	11			244			22			277
Amounts reclassified from accumulated other comprehensive loss:
Amounts reclassified from accumulated other comprehensive income	4			—			34			38
Tax expense	(1		)	—			(8		)	(9		)
Amounts reclassified from accumulated other comprehensive income, net	3			—			26			29
Net current period other comprehensive income	14			244			48			306
Balance at March 31, 2018	$	(12	)	$	(635	)	$	(2,544	)	$	(3,191	)


(1)	Reclassifications from this category included in Accumulated other comprehensive loss are recorded in Other income (expense), Other general expenses, and Compensation and benefits. See Note 15 “Derivatives and Hedging” for additional information regarding the Company’s derivative and hedging activity.


(2)	Reclassifications from this category included in Accumulated other comprehensive loss are recorded in Other income (expense).


(3)	Refer to Note 2 “Accounting Principles and Practices” for further information.

Employee Benefits

3 Months Ended

Mar. 31, 2018

Retirement Benefits [Abstract]

Employee Benefits

The following table provides the components of the net periodic cost (benefit) recognized in the Condensed Consolidated Statements of Income for Aon’s material U.K., U.S., and other significant international pension plans located in the Netherlands and Canada. Service cost is reported in Compensation and benefits and all other components are reported in Other income (expense) as follows (in millions):



	Three months ended March 31
	U.K.						U.S.						Other
	2018			2017			2018			2017			2018			2017
Service cost	$	—		$	—		$	—		$	—		$	—		$	—
Interest cost	29			30			25			24			7			6
Expected return on plan assets, net of administration expenses	(51		)	(48		)	(36		)	(35		)	(12		)	(11		)
Amortization of net actuarial loss	8			7			15			13			3			3
Net periodic cost (benefit)	(14		)	(11		)	4			2			(2		)	(2		)
Loss on pension settlement	7			—			—			—			—			—
Total net periodic cost (benefit)	$	(7	)	$	(11	)	$	4		$	2		$	(2	)	$	(2	)

In March 2017, the Company approved a plan to offer a voluntary one-time lump sum payment option to certain eligible employees of the Company’s U.K. pension plans that, if accepted, would settle the Company’s pension obligations to them. The lump sum cash payment offer will close during 2018. In total for 2018, lump sum payments from plan assets of £48 million ($68 million using March 31, 2018 exchange rates) were paid. As a result of this settlement, the Company remeasured the assets and liabilities of the U.K. pension plan during the first quarter of 2018, which in aggregate resulted in a reduction to the projected benefit obligation of £44 million ($63 million using March 31, 2018 exchange rates) as well as a non-cash settlement charge of £5 million ($7 million using average March 31, 2018 exchange rate) in the first quarter of 2018. Additional non-cash settlement charges are expected in 2018.

Contributions

The Company expects to make cash contributions of approximately $92 million, $63 million, and $22 million, based on exchange rates as of December 31, 2017, to its significant U.K., U.S., and other significant international pension plans, respectively, during 2018. During the three months ended March 31, 2018, cash contributions of $23 million, $17 million, and $8 million were made to the Company’s significant U.K., U.S., and other significant international pension plans, respectively.

During the three months ended March 31, 2017, cash contributions of $16 million, $13 million, and $2 million were made to the Company’s significant U.K., U.S., and other significant international pension plans, respectively.

Share-Based Compensation Plans

3 Months Ended

Mar. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Compensation Plans

The following table summarizes share-based compensation expense recognized in the Condensed Consolidated Statements of Income in Compensation and benefits (in millions):



	Three months ended March 31
	2018		2017
Restricted share units (“RSUs”)	$	58	$	55
Performance share awards (“PSAs”)	16		19
Employee share purchase plans	3		4
Total share-based compensation expense	$	77	$	78

Restricted Share Units

RSUs generally vest between three and five years. The fair value of RSUs is based upon the market value of Aon plc ordinary shares at the date of grant. With certain limited exceptions, any break in continuous employment will cause the forfeiture of all non-vested awards. Compensation expense associated with RSUs is recognized on a straight-line basis over the requisite service period. Dividend equivalents are paid on certain RSUs, based on the initial grant amount.

The following table summarizes the status of the Company’s RSUs, including shares related to the Divested Business (shares in thousands, except fair value):



	2018				2017
	Shares		Fair Value at Date of Grant		Shares		Fair Value at Date of Grant
Non-vested at beginning of period	4,849		$	104	6,195		$	89
Granted	505		144		614		119
Vested	(806	)	101		(960	)	90
Forfeited	(63	)	105		(50	)	91
Non-vested at end of period	4,485		$	109	5,799		$	92

Unamortized deferred compensation expense amounted to $352 million as of March 31, 2018, with a remaining weighted-average amortization period of approximately 2.0 years.

Performance Share Awards

The vesting of PSAs is contingent upon meeting a cumulative level of earnings per share related performance over a three-year period. The actual issue of shares may range from 0-200% of the target number of PSAs granted, based on the terms of the plan and level of achievement of the related performance target. The grant date fair value of PSAs is based upon the market price of Aon plc ordinary shares at the date of grant. The performance conditions are not considered in the determination of the grant date fair value for these awards. Compensation expense is recognized over the performance period based on management’s estimate of the number of units expected to vest. Management evaluates its estimate of the actual number of shares expected to be issued at the end of the programs on a quarterly basis. The cumulative effect of the change in estimate is recognized in the period of change as an adjustment to Compensation and benefits in the Condensed Consolidated Statements of Income, if necessary. Dividend equivalents are not paid on PSAs.

Information as of March 31, 2018 regarding the Company’s target PSAs granted and shares that would be issued at current performance levels for PSAs granted during the three months ended March 31, 2018 and the years ended December 31, 2017 and 2016, respectively, is as follows (shares in thousands and dollars in millions, except fair value):



	March 31, 2018		December 31, 2017		December 31, 2016
Target PSAs granted during period	561		548		750
Weighted average fair value per share at date of grant	$	135	$	114	$	100
Number of shares that would be issued based on current performance levels	561		942		745
Unamortized expense, based on current performance levels	$	75	$	68	$	19

Derivatives and Hedging

3 Months Ended

Mar. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives and Hedging

The Company is exposed to market risks, including changes in foreign currency exchange rates and interest rates. To manage the risk related to these exposures, the Company enters into various derivative instruments that reduce these risks by creating offsetting exposures. The Company does not enter into derivative transactions for trading or speculative purposes.

Foreign Exchange Risk Management

The Company is exposed to foreign exchange risk when it earns revenues, pays expenses, enters into monetary intercompany transfers or other transactions denominated in a currency that differs from its functional currency. The Company uses foreign exchange derivatives, typically forward contracts, options and cross currency swaps, to reduce its overall exposure to the effects of currency fluctuations on cash flows. These exposures are hedged, on average, for less than two years. These derivatives are accounted for as hedges, and changes in fair value are recorded each period in Other comprehensive income (loss) in the Condensed Consolidated Statements of Comprehensive Income.

The Company also uses foreign exchange derivatives, typically forward contracts and options, to economically hedge the currency exposure of the Company’s global liquidity profile, including monetary assets or liabilities that are denominated in a non-functional currency of an entity, typically on a rolling 30-day basis, but may be for up to one year in the future. These derivatives are not accounted for as hedges, and changes in fair value are recorded each period in Other income (expense) in the Condensed Consolidated Statements of Income.

The notional and fair values of derivative instruments are as follows (in millions):



	Notional Amount				Net Amount of Derivative Assets Presented in the Statements of Financial Position ⁽¹⁾				Net Amount of Derivative Liabilities Presented in the Statements of Financial Position ⁽²⁾
	March 31, 2018		December 31, 2017		March 31, 2018		December 31, 2017		March 31, 2018		December 31, 2017
Foreign exchange contracts
Accounted for as hedges	$	758	$	701	$	45	$	31	$	1	$	3
Not accounted for as hedges ⁽³⁾	329		254		1		1		1		3
Total	$	1,087	$	955	$	46	$	32	$	2	$	6


(1)	Included within Other current assets ($13 million at March 31, 2018 and $9 million at December 31, 2017) or Other non-current assets ($33 million at March 31, 2018 and $23 million at December 31, 2017).


(2)	Included within Other current liabilities ($1 million at March 31, 2018 and $3 million at December 31, 2017) or Other non-current liabilities ($1 million at March 31, 2018 and $3 million at December 31, 2017).


(3)	These contracts typically are for 30 day durations and executed close to the last day of the most recent reporting month, thereby resulting in nominal fair values at the balance sheet date.

The amounts of derivative gains (losses) recognized in the Condensed Consolidated Financial Statements are as follows (in millions):



	Three Months Ended
	March 31, 2018		March 31, 2017
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss	$	14	$	6

Location of future reclassification from Accumulated Other Comprehensive Loss
Compensation and benefits	$	—	$	8
Other general expenses	$	4	$	1
Other income (expense)	$	10	$	(3	)

The amounts of derivative gains (loss) reclassified from Accumulated other comprehensive loss into the Condensed Consolidated Statements of Income (effective portion) are as follows (in millions):



	Three Months Ended
	March 31, 2018			March 31, 2017
Compensation and benefits	$	1		$	13
Other general expenses	(1		)	(1		)
Interest expense	(1		)	—
Other income (expense)	(3		)	(2		)
Total	$	(4	)	$	10

The Company estimates that approximately $2 million of pretax losses currently included within Accumulated other comprehensive loss will be reclassified in to earnings in the next twelve months.

The amount of gain (loss) recognized in income on the ineffective portion of derivatives for the three months ended March 31, 2018 and 2017 was insignificant.

During the three months ended March 31, 2018, the Company recorded a gain of $9 million in Other income (expense) for foreign exchange derivatives not designated or qualifying as hedges. During the three months ended March 31, 2017, the Company recorded a gain of $1 million in Other income (expense) for foreign exchange derivatives not designated or qualifying as hedges.

Net Investments in Foreign Operations Risk Management

The Company uses non-derivative financial instruments to protect the value of its investments in a number of foreign subsidiaries. In 2016, the Company designated a portion of its Euro-denominated commercial paper issuances as a non-derivative hedge of the foreign currency exposure of a net investment in its European operations. The change in fair value of the designated portion of the Euro-denominated commercial paper due to changes in foreign currency exchange rates is recorded in Foreign currency translation adjustment, a component of Accumulated other comprehensive loss, to the extent it is effective as a hedge. The foreign currency translation adjustment of the hedged net investments that is also recorded in Accumulated other comprehensive loss. Ineffective portions of net investment hedges, if any, are reclassified from Accumulated other comprehensive loss into earnings during the period of change.

As of March 31, 2018, the Company has €220 million ($274 million at March 31, 2018 exchange rates) of outstanding Euro-denominated commercial paper designated as a hedge of the foreign currency exposure of its net investment in its European operations. As of March 31, 2018, the unrealized loss recognized in Accumulated other comprehensive loss related to the net investment non derivative hedging instrument was $3 million.

The Company did not reclassify any deferred gains or losses related to net investment hedges from Accumulated other comprehensive loss to earnings during the three months ended March 31, 2018 and 2017. In addition, the Company did not incur any ineffectiveness related to net investment hedges during the three months ended March 31, 2018 and 2017.

Fair Value Measurements and Financial Instruments

3 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Fair Value Measurements and Financial Instruments

Accounting standards establish a three tier fair value hierarchy that prioritizes the inputs used in measuring fair values as follows:


•	Level 1 — observable inputs such as quoted prices for identical assets in active markets;


•	Level 2 — inputs other than quoted prices for identical assets in active markets, that are observable either directly or indirectly; and


•	Level 3 — unobservable inputs in which there is little or no market data which requires the use of valuation techniques and the development of assumptions.

The following methods and assumptions are used to estimate the fair values of the Company’s financial instruments:

Money market funds consist of institutional prime, treasury, and government money market funds. The Company reviews treasury and government money market funds to obtain reasonable assurance that the fund net asset value is $1 per share, and reviews the floating net asset value of institutional prime money market funds for reasonableness.

Equity investments consist of domestic and international equity securities and equity derivatives valued using the closing stock price on a national securities exchange. Over the counter equity derivatives are valued using observable inputs such as underlying prices of the underlying security and volatility. On a sample basis the Company reviews the listing of Level 1 equity securities in the portfolio and agrees the closing stock prices to a national securities exchange, and independently verifies the observable inputs for Level 2 equity derivatives and securities.

Fixed income investments consist of certain categories of bonds and derivatives. Corporate, government, and agency bonds are valued by pricing vendors who estimate fair value using recently executed transactions and proprietary models based on observable inputs, such as interest rate spreads, yield curves, and credit risk. Asset-backed securities are valued by pricing vendors who estimate fair value using discounted cash flow models utilizing observable inputs based on trade and quote activity of securities with similar features. Fixed income derivatives are valued by pricing vendors using observable inputs such as interest rates and yield curves. The Company obtains an understanding of the models, inputs, and assumptions used in developing prices provided by its vendors through discussions with the fund managers. The Company independently verifies the observable inputs, as well as assesses assumptions used for reasonableness based on relevant market conditions and internal Company guidelines. If an assumption is deemed unreasonable, based on the Company’s guidelines, it is then reviewed by management and the fair value estimate provided by the vendor is adjusted, if deemed appropriate. These adjustments do not occur frequently and historically are not material to the fair value estimates used in the Condensed Consolidated Financial Statements.

Derivatives are carried at fair value, based upon industry standard valuation techniques that use, where possible, current market-based or independently sourced pricing inputs, such as interest rates, currency exchange rates, or implied volatilities.

Debt is carried at outstanding principal balance, less any unamortized discount or premium. Fair value is based on quoted market prices or estimates using discounted cash flow analyses based on current borrowing rates for similar types of borrowing arrangements.

The following tables present the categorization of the Company’s assets and liabilities that are measured at fair value on a recurring basis at March 31, 2018 and December 31, 2017 (in millions):



			Fair Value Measurements Using
	Balance at March 31, 2018		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds ⁽¹⁾	$	1,502	$	1,502	$	—	$	—
Other investments:
Government bonds	$	1	$	—	$	1	$	—
Equity investments	$	3	$	—	$	3	$	—
Derivatives: ⁽²⁾
Gross foreign exchange contracts	$	54	$	—	$	54	$	—
Liabilities:
Derivatives: ⁽²⁾
Gross foreign exchange contracts	$	8	$	—	$	8	$	—


(1)	Included within Fiduciary assets or Short-term investments in the Condensed Consolidated Statements of Financial Position, depending on their nature and initial maturity.


(2)	Refer to Note 15 “Derivatives and Hedging” for additional information regarding the Company’s derivatives and hedging activity.



			Fair Value Measurements Using
	Balance at December 31, 2017		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds ⁽¹⁾	$	1,847	$	1,847	$	—	$	—
Other investments:
Government bonds	$	1	$	—	$	1	$	—
Equity investments	$	4	$	—	$	4	$	—
Derivatives: ⁽²⁾
Gross foreign exchange contracts	$	33	$	—	$	33	$	—
Liabilities:
Derivatives: ⁽²⁾
Gross foreign exchange contracts	$	6	$	—	$	6	$	—


(1)	Included within Fiduciary assets or Short-term investments in the Condensed Consolidated Statements of Financial Position, depending on their nature and initial maturity.


(2)	Refer to Note 15 “Derivatives and Hedging” for additional information regarding the Company’s derivatives and hedging activity.

There were no transfers of assets or liabilities between fair value hierarchy levels in either the three months ended March 31, 2018 or 2017. The Company recognized no realized or unrealized gains or losses in the Condensed Consolidated Statements of Income during either the three months ended March 31, 2018 or 2017, related to assets and liabilities measured at fair value using unobservable inputs.

The fair value of debt is classified as Level 2 of the fair value hierarchy. The following table discloses the Company’s financial instruments where the carrying amounts and fair values differ (in millions):



	March 31, 2018				December 31, 2017
	Carrying Value		Fair Value		Carrying Value		Fair Value
Current portion of long-term debt	$	—	$	—	$	299	$	301
Long-term debt	$	5,697	$	6,077	$	5,667	$	6,267

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Aon and its subsidiaries are subject to numerous claims, tax assessments, lawsuits and proceedings that arise in the ordinary course of business, which frequently include errors and omissions (“E&O”) claims. The damages claimed in these matters are or may be substantial, including, in many instances, claims for punitive, treble or extraordinary damages. While Aon maintains meaningful E&O insurance and other insurance programs to provide protection against certain losses that arise in such matters, Aon has exhausted or materially depleted its coverage under some of the policies that protect the Company and, consequently, is self-insured or materially self-insured for some claims. Accruals for these exposures, and related insurance receivables, when applicable, are included in the Condensed Consolidated Statements of Financial Position and have been recognized in Other general expenses in the Condensed Consolidated Statements of Income to the extent that losses are deemed probable and are reasonably estimable. These amounts are adjusted from time to time as developments warrant. Matters that are not probable and reasonably estimable are not accrued for in the financial statements. The Company has included in the current matters described below certain matters in which (1) loss is probable, (2) loss is reasonably possible, that is, more than remote but not probable, or (3) there exists the reasonable possibility of loss greater than the accrued amount. In addition, the Company may from time to time disclose matters for which the probability of loss could be remote but the claim amounts associated with such matters are potentially significant. The reasonably possible range of loss for the matters described below for which loss is estimable, in excess of amounts that are deemed probable and estimable and therefore already accrued, is estimated to be between $0 and $0.3 billion, exclusive of any insurance coverage. These estimates are based on currently available information. As available information changes, the matters for which Aon is able to estimate may change, and the estimates themselves may change. In addition, many estimates involve significant judgment and uncertainty. For example, at the time of making an estimate, Aon may only have limited information about the facts underlying the claim, and predictions and assumptions about future court rulings and outcomes may prove to be inaccurate. Although management at present believes that the ultimate outcome of all matters described below, individually or in the aggregate, will not have a material adverse effect on the consolidated financial position of Aon, legal proceedings are subject to inherent uncertainties and unfavorable rulings or other events. Unfavorable resolutions could include substantial monetary or punitive damages imposed on Aon or its subsidiaries. If unfavorable outcomes of these matters were to occur, future results of operations or cash flows for any particular quarterly or annual period could be materially adversely affected. Current Matters A retail insurance brokerage subsidiary of Aon was sued on September 14, 2010 in the Chancery Court for Davidson County, Tennessee Twentieth Judicial District, at Nashville by a client, Opry Mills Mall Limited Partnership (“Opry Mills”) that sustained flood damage to its property in May 2010. The lawsuit seeks $200 million in coverage from numerous insurers with whom this Aon subsidiary placed the client’s property insurance coverage. The insurers contend that only $50 million in coverage (which has already been paid) is available for the loss because the flood event occurred on property in a high hazard flood zone. Opry Mills is seeking full coverage from the insurers for the loss and has sued this Aon subsidiary in the alternative for the same $150 million difference on various theories of professional liability if the court determines there is not full coverage. In addition, Opry Mills seeks prejudgment interest, attorneys’ fees and enhanced damages which could substantially increase Aon’s exposure. In March 2015, the trial court granted partial summary judgment in favor of plaintiffs and against the insurers, holding generally that the plaintiffs are entitled to $200 million in coverage under the language of the policies. In August 2015, a jury returned a verdict in favor of Opry Mills and against the insurers in the amount of $204 million. On January 26, 2018, the Tennessee Court of Appeals reversed and remanded, reversing summary judgment in favor of plaintiffs and concluding that coverage is limited to $50 million. Aon believes it has meritorious defenses and intends to vigorously defend itself against these claims. A pensions consulting and administration subsidiary of Aon provided advisory services to the Trustees of the Gleeds pension fund in the United Kingdom and, on occasion, to the relevant employer of the fund. In April 2014, the High Court, Chancery Division, London found that certain governing documents of the fund that sought to alter the fund’s benefit structure and that had been drafted by Aon were procedurally defective and therefore invalid. No lawsuit naming Aon as a party was filed, although a tolling agreement was entered. The High Court decision says that the additional liabilities in the pension fund resulting from the alleged defect in governing documents amount to approximately £45 million ($64 million at March 31, 2018 exchange rates). In December 2014, the Court of Appeal granted the employer leave to appeal the High Court decision. At a hearing in October 2016, the Court of Appeal approved a settlement of the pending litigation. On October 31, 2016, the fund’s trustees and employer sued Aon in the High Court, Chancery Division, London, alleging negligence and breach of duty in relation to the governing documents. The proceedings were served on Aon on December 20, 2016. The claimants seek damages of approximately £70 million ($100 million at March 31, 2018 exchange rates). In February 2018, the claimants instructed new lawyers and notified Aon that the claimants intend to add their previous lawyers as defendants to the Aon lawsuit. Claimants will allege that the previous lawyers were responsible for some of the losses sought from Aon because the lawyers gave negligent legal advice during the course of the High Court and Court of Appeal proceedings. The addition of the new parties will delay any potential trial until 2019. Aon believes that it has meritorious defenses and intends to vigorously defend itself against this claim. On June 29, 2015, Lyttelton Port Company Limited (“LPC”) sued Aon New Zealand in the Christchurch Registry of the High Court of New Zealand. LPC alleges, among other things, that Aon was negligent and in breach of contract in arranging LPC’s property insurance program for the period covering June 30, 2010, to June 30, 2011. LPC contends that acts and omissions by Aon caused LPC to recover less than it otherwise would have from insurers for losses suffered in the 2010 and 2011 Canterbury earthquakes. LPC claims damages of approximately NZD 184 million ($134 million at March 31, 2018 exchange rates) plus interest and costs. Aon believes that it has meritorious defenses and intends to vigorously defend itself against these claims. On October 3, 2017, Christchurch City Council (“CCC”) invoked arbitration to pursue a claim that it asserts against Aon New Zealand. Aon provided insurance broking services to CCC in relation to CCC’s 2010-2011 material damage and business interruption program. In December 2015, CCC settled its property and business interruption claim for its losses arising from the 2010-2011 Canterbury earthquakes against the underwriter of its material damage and business interruption program and the reinsurers of that underwriter. CCC contends that acts and omissions by Aon caused CCC to recover less in that settlement than it otherwise would have. CCC claims damages of approximately NZD 528 million ($385 million at March 31, 2018 exchange rates) plus interest and costs. Aon believes that it has meritorious defenses and intends to vigorously defend itself against these claims. In April 2017, the Financial Conduct Authority (the “FCA”) announced an investigation relating to suspected competition law breaches in the aviation and aerospace broking industry, which, for Aon in 2016, represented less than $100 million in global revenue. The European Commission has now assumed jurisdiction over the investigation in place of the FCA. Other antitrust agencies outside the European Union are also conducting formal or informal investigations regarding these matters. Aon intends to work diligently with all antitrust agencies concerned to ensure they can carry out their work as efficiently as possible. At this time, in light of the uncertainties and many variables involved, we cannot estimate the ultimate impact on our company from these investigations or any related private litigation, nor any damages, penalties, or fines related to them. There can be no assurance that the ultimate resolution of these matters will not have a material adverse effect on our consolidated financial position, results of operations, or liquidity. Guarantees and Indemnifications Redomestication In connection with the redomicile of Aon’s headquarters (the “Redomestication”), the Company on April 2, 2012 entered into various agreements pursuant to which it agreed to guarantee the obligations of its subsidiaries arising under issued and outstanding debt securities. Those agreements included the (1) Amended and Restated Indenture, dated as of April 2, 2012, among Aon Corporation, Aon plc, and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”) (amending and restating the Indenture, dated as of September 10, 2010, between Aon Corporation and the Trustee), (2) Amended and Restated Indenture, dated as of April 2, 2012, among Aon Corporation, Aon plc and the Trustee (amending and restating the Indenture, dated as of December 16, 2002, between Aon Corporation and the Trustee), (3) Amended and Restated Indenture, dated as of April 2, 2012, among Aon Corporation, Aon plc and the Trustee (amending and restating the Indenture, dated as of January 13, 1997, as supplemented by the First Supplemental Indenture, dated as of January 13, 1997), and (4) First Supplemental Indenture, dated as of April 2, 2012, among Aon Finance N.S. 1, ULC, as issuer, Aon Corporation, as guarantor, Aon plc, as guarantor, and Computershare Trust Company of Canada, as trustee. The Company provides a variety of guarantees and indemnifications to its customers and others. The maximum potential amount of future payments represents the notional amounts that could become payable under the guarantees and indemnifications if there were a total default by the guaranteed parties, without consideration of possible recoveries under recourse provisions or other methods. These amounts may bear no relationship to the expected future payments, if any, for these guarantees and indemnifications. Any anticipated amounts payable are included in the Company’s Condensed Consolidated Financial Statements, and are recorded at fair value. The Company expects that, as prudent business interests dictate, additional guarantees and indemnifications may be issued from time to time. Sale of the Divested Business In connection with the sale of the Divested Business, the Company guaranteed future operating lease commitments related to certain facilities assumed by the Buyer. The Company is obligated to perform under the guarantees if the Divested Business defaults on such leases at any time during the remainder of the lease agreements, which expire on various dates through 2024. As of March 31, 2018, the undiscounted maximum potential future payments under the lease guarantee is $97 million, with an estimated fair value of $22 million. No cash payments were made in connection to the lease commitments during the three months ended March 31, 2018. Additionally, the Company is subject to performance guarantee requirements under certain client arrangements that were assumed by the Buyer. Should the Divested Business fail to perform as required by the terms of the arrangements, the Company would be required to fulfill the remaining contract terms, which expire on various dates through 2023. As of March 31, 2018, the undiscounted maximum potential future payments under the performance guarantees were $206 million, with an estimated fair value of $1 million. No cash payments were made in connection to the performance guarantees during the three months ended March 31, 2018. Letters of Credit Aon has entered into a number of arrangements whereby the Company’s performance on certain obligations is guaranteed by a third party through the issuance of letters of credit (“LOCs”). The Company had total LOCs outstanding of approximately $117 million at March 31, 2018, compared to $96 million at December 31, 2017. These letters of credit cover the beneficiaries related to certain of Aon’s U.S. and Canadian non-qualified pension plan schemes and secure deductible retentions for Aon’s own workers compensation program. The Company has also obtained LOCs to cover contingent payments for taxes and other business obligations to third parties, and other guarantees for miscellaneous purposes at its international subsidiaries. Premium Payments The Company has certain contractual contingent guarantees for premium payments owed by clients to certain insurance companies. The maximum exposure with respect to such contractual contingent guarantees was approximately $68 million at March 31, 2018 compared to $95 million at December 31, 2017.

Segment Information	3 Months Ended
Segment Information	Mar. 31, 2018
Segment Reporting [Abstract]
Segment Information	Segment Information The Company operates as one segment that includes all of Aon’s continuing operations, which as a global professional services firm provides advice and solutions to clients focused on risk, retirement, and health through five revenue lines which make up its principal products and services. The CODM assesses the performance of the Company and allocates resources based on one Segment: Aon United. The Company’s reportable operating segment has been determined using a management approach, which is consistent with the basis and manner in which Aon’s CODM uses financial information for the purposes of allocating resources and evaluating performance. The CODM assesses performance and allocates resources based on total Aon results against its key four metrics, including organic revenue growth, expense discipline, and collaborative behaviors that maximize value for Aon and its shareholders, regardless of which revenue line it benefits. As Aon operates as one segment, segment profit or loss is consistent with consolidated reporting as disclosed on the Condensed Consolidated Statements of Income.

Guarantee of Registered Securities

3 Months Ended

Mar. 31, 2018

Guarantee of Registered Securities [Abstract]

Guarantee of Registered Securities

As described in Note 17 “Commitments and Contingencies,” in connection with the Redomestication, Aon plc entered into various agreements pursuant to which it agreed to guarantee the obligations of Aon Corporation arising under issued and outstanding debt securities, including the 5.00% Notes due September 2020, the 8.205% Notes due January 2027, and the 6.25% Notes due September 2040 (collectively, the “Aon Corporation Notes”). Aon Corporation is a 100% indirectly owned subsidiary of Aon plc. All guarantees of Aon plc are full and unconditional. There are no other subsidiaries of Aon plc that are guarantors of the Aon Corporation Notes.

In addition, Aon Corporation entered into an agreement pursuant to which it agreed to guarantee the obligations of Aon plc arising under the 4.25% Notes due 2042 exchanged for Aon Corporation’s outstanding 8.205% Notes due January 2027, and also agreed to guarantee the obligations of Aon plc arising under the 4.45% Notes due 2043, the 4.00% Notes due November 2023, the 2.875% Notes due May 2026, the 3.50% Notes due June 2024, the 4.60% Notes due June 2044, the 4.75% Notes due May 2045, the 2.80% Notes due March 2021, and the 3.875% Notes due December 2025 (collectively, the “Aon plc Notes”). All guarantees of Aon Corporation are full and unconditional. There are no subsidiaries of Aon plc, other than Aon Corporation, that are guarantors of the Aon plc Notes. As a result of the existence of these guarantees, the Company has elected to present the financial information set forth in this footnote in accordance with Rule 3-10 of Regulation S-X.

The following tables set forth Condensed Consolidating Statements of Income for the three months ended March 31, 2018 and 2017, Condensed Consolidating Statements of Comprehensive Income for the three months ended March 31, 2018 and 2017, Condensed Consolidating Statements of Financial Position as of March 31, 2018 and December 31, 2017, and Condensed Consolidating Statements of Cash Flows for the three months ended March 31, 2018 and 2017 in accordance with Rule 3-10 of Regulation S-X. The condensed consolidating financial information includes the accounts of Aon plc, the accounts of Aon Corporation, and the combined accounts of the non-guarantor subsidiaries. The condensed consolidating financial statements are presented in all periods as a merger under common control, with Aon plc presented as the parent company in all periods prior and subsequent to the Redomestication. The principal consolidating adjustments are to eliminate the investment in subsidiaries and intercompany balances and transactions.

Condensed Consolidating Statement of Income



	Three months ended March 31, 2018
(millions)	Aon plc			Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Revenue
Total revenue	$	—		$	—		$	3,090		$	—		$	3,090
Expenses
Compensation and benefits	19			1			1,596			—			1,616
Information technology	—			—			115			—			115
Premises	—			—			93			—			93
Depreciation of fixed assets	—			—			39			—			39
Amortization and impairment of intangible assets	—			—			110			—			110
Other general expenses	1			—			317			—			318
Total operating expenses	20			1			2,270			—			2,291
Operating income (loss)	(20		)	(1		)	820			—			799
Interest income	—			14			—			(10		)	4
Interest expense	(49		)	(24		)	(7		)	10			(70		)
Intercompany interest income (expense)	4			(128		)	124			—			—
Intercompany other income (expense)	(71		)	(5		)	76			—			—
Other income (expense)	(7		)	(6		)	(5		)	3			(15		)
Income (loss) from continuing operations before income taxes	(143		)	(150		)	1,008			3			718
Income tax expense (benefit)	(16		)	(27		)	157			—			114
Net income (loss) from continuing operations	(127		)	(123		)	851			3			604
Income from discontinued operations, net of tax	—			—			6			—			6
Net income (loss) before equity in earnings of subsidiaries	(127		)	(123		)	857			3			610
Equity in earnings of subsidiaries, net of tax	718			704			581			(2,003		)	—
Net income	591			581			1,438			(2,000		)	610
Less: Net income attributable to noncontrolling interests	—			—			16			—			16
Net income attributable to Aon shareholders	$	591		$	581		$	1,422		$	(2,000	)	$	594

Condensed Consolidating Statement of Income



	Three months ended March 31, 2017
(millions)	Aon plc			Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Revenue
Total revenue	$	—		$	—		$	2,381		$	—		$	2,381
Expenses
Compensation and benefits	52			3			1,414			—			1,469
Information technology	—			—			88			—			88
Premises	—			—			84			—			84
Depreciation of fixed assets	—			—			54			—			54
Amortization and impairment of intangible assets	—			—			43			—			43
Other general expenses	5			2			301			—			308
Total operating expenses	57			5			1,984			—			2,046
Operating income (loss)	(57		)	(5		)	397			—			335
Interest income	—			6			(2		)	(2		)	2
Interest expense	(45		)	(24		)	(3		)	2			(70		)
Intercompany interest income (expense)	3			(136		)	133			—			—
Intercompany other income (expense)	(50		)	7			43			—			—
Other income (expense)	(10		)	9			(9		)	8			(2		)
Income (loss) from continuing operations before income taxes	(159		)	(143		)	559			8			265
Income tax expense (benefit)	(14		)	(54		)	68			—			—
Net income (loss) from continuing operations	(145		)	(89		)	491			8			265
Income from discontinued operations, net of tax	—			—			40			—			40
Net income (loss) before equity in earnings of subsidiaries	(145		)	(89		)	531			8			305
Equity in earnings of subsidiaries, net of tax	428			271			182			(881		)	—
Net income	283			182			713			(873		)	305
Less: Net income attributable to noncontrolling interests	—			—			14			—			14
Net income attributable to Aon shareholders	$	283		$	182		$	699		$	(873	)	$	291

Condensed Consolidating Statement of Comprehensive Income



	Three months ended March 31, 2018
(millions)	Aon plc		Aon Corporation		Other Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated
Net income	$	591	$	581	$	1,438	$	(2,000	)	$	610
Less: Net income attributable to noncontrolling interests	—		—		16		—			16
Net income attributable to Aon shareholders	591		581		1,422		(2,000		)	594
Other comprehensive income (loss), net of tax:
Change in fair value of financial instruments	—		3		11		—			14
Foreign currency translation adjustments	—		—		250		(3		)	247
Postretirement benefit obligation	—		11		37		—			48
Total other comprehensive income	—		14		298		(3		)	309
Equity in other comprehensive income of subsidiaries, net of tax	309		285		299		(893		)	—
Less: Other comprehensive income attributable to noncontrolling interests	—		—		3		—			3
Total other comprehensive income attributable to Aon shareholders	309		299		594		(896		)	306
Comprehensive income attributable to Aon shareholders	$	900	$	880	$	2,016	$	(2,896	)	$	900

Condensed Consolidating Statement of Comprehensive Income



	Three months ended March 31, 2017
(millions)	Aon plc		Aon Corporation			Other Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated
Net income	$	283	$	182		$	713	$	(873	)	$	305
Less: Net income attributable to noncontrolling interests	—		—			14		—			14
Net income attributable to Aon shareholders	283		182			699		(873		)	291
Other comprehensive income (loss), net of tax:
Change in fair value of financial instruments	—		(2		)	—		—			(2		)
Foreign currency translation adjustments	—		—			155		(8		)	147
Postretirement benefit obligation	—		8			10		—			18
Total other comprehensive income	—		6			165		(8		)	163
Equity in other comprehensive income of subsidiaries, net of tax	170		164			170		(504		)	—
Less: Other comprehensive income attributable to noncontrolling interests	—		—			1		—			1
Total other comprehensive income attributable to Aon shareholders	170		170			334		(512		)	162
Comprehensive income attributable to Aon shareholders	$	453	$	352		$	1,033	$	(1,385	)	$	453

Condensed Consolidating Statement of Financial Position



	As of March 31, 2018
(millions)	Aon plc		Aon Corporation		Other Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	—	$	2,603	$	640	$	(2,646	)	$	597
Short-term investments	—		1		117		—			118
Receivables, net	—		1		3,052		—			3,053
Fiduciary assets	—		—		10,738		—			10,738
Current intercompany receivables	186		2,355		10,953		(13,494		)	—
Other current assets	1		19		589		—			609
Total Current Assets	187		4,979		26,089		(16,140		)	15,115
Goodwill	—		—		8,550		—			8,550
Intangible assets, net	—		—		1,662		—			1,662
Fixed assets, net	—		—		578		—			578
Deferred tax assets	99		391		57		(251		)	296
Non-current intercompany receivables	426		261		8,247		(8,934		)	—
Prepaid pension	—		6		1,201		—			1,207
Other non-current assets	1		32		406		—			439
Investment in subsidiary	10,406		19,124		1,311		(30,841		)	—
TOTAL ASSETS	$	11,119	$	24,793	$	48,101	$	(56,166	)	$	27,847

LIABILITIES AND EQUITY
LIABILITIES
CURRENT LIABILITIES
Accounts payable and accrued liabilities	$	896	$	12	$	3,283	$	(2,646	)	$	1,545
Short-term debt and current portion of long-term debt	374		26		3		—			403
Fiduciary liabilities	—		—		10,738		—			10,738
Current intercompany payables	262		12,098		1,134		(13,494		)	—
Other current liabilities	—		65		907		—			972
Total Current Liabilities	1,532		12,201		16,065		(16,140		)	13,658
Long-term debt	4,282		1,414		1		—			5,697
Deferred tax liabilities	—		—		494		(251		)	243
Pension, other postretirement and other post-employment liabilities	—		1,365		394		—			1,759
Non-current intercompany payables	—		8,412		522		(8,934		)	—
Other non-current liabilities	4		90		1,011		—			1,105
TOTAL LIABILITIES	5,818		23,482		18,487		(25,325		)	22,462

TOTAL AON SHAREHOLDERS’ EQUITY	5,301		1,311		29,530		(30,841		)	5,301
Noncontrolling interests	—		—		84		—			84
TOTAL EQUITY	5,301		1,311		29,614		(30,841		)	5,385
TOTAL LIABILITIES AND EQUITY	$	11,119	$	24,793	$	48,101	$	(56,166	)	$	27,847

Condensed Consolidating Statement of Financial Position



	As of December 31, 2017
(millions)	Aon plc		Aon Corporation		Other Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	1	$	2,524	$	793	$	(2,562	)	$	756
Short-term investments	—		355		174		—			529
Receivables, net	—		2		2,476		—			2,478
Fiduciary assets	—		—		9,625		—			9,625
Current intercompany receivables	165		1,046		10,824		(12,035		)	—
Other current assets	1		29		259		—			289
Total Current Assets	167		3,956		24,151		(14,597		)	13,677
Goodwill	—		—		8,358		—			8,358
Intangible assets, net	—		—		1,733		—			1,733
Fixed assets, net	—		—		564		—			564
Deferred tax assets	99		396		143		(249		)	389
Non-current intercompany receivables	414		261		8,232		(8,907		)	—
Prepaid pension	—		6		1,054		—			1,060
Other non-current assets	1		35		271		—			307
Investment in subsidiary	8,884		17,910		20		(26,814		)	—
TOTAL ASSETS	$	9,565	$	22,564	$	44,526	$	(50,567	)	$	26,088

LIABILITIES AND EQUITY
LIABILITIES
CURRENT LIABILITIES
Accounts payable and accrued liabilities	$	574	$	36	$	3,913	$	(2,562	)	$	1,961
Short-term debt and current portion of long-term debt	—		—		299		—			299
Fiduciary liabilities	—		—		9,625		—			9,625
Current intercompany payables	130		11,149		756		(12,035		)	—
Other current liabilities	16		64		790		—			870
Total Current Liabilities	720		11,249		15,383		(14,597		)	12,755
Long-term debt	4,251		1,415		1		—			5,667
Deferred tax liabilities	—		—		376		(249		)	127
Pension, other postretirement and other post-employment liabilities	—		1,391		398		—			1,789
Non-current intercompany payables	—		8,398		509		(8,907		)	—
Other non-current liabilities	11		91		1,000		—			1,102
TOTAL LIABILITIES	4,982		22,544		17,667		(23,753		)	21,440

TOTAL AON SHAREHOLDERS’ EQUITY	4,583		20		26,794		(26,814		)	4,583
Noncontrolling interests	—		—		65		—			65
TOTAL EQUITY	4,583		20		26,859		(26,814		)	4,648
TOTAL LIABILITIES AND EQUITY	$	9,565	$	22,564	$	44,526	$	(50,567	)	$	26,088

Condensed Consolidating Statement of Cash Flows



	Three months ended March 31, 2018
(millions)	Aon plc			Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES
Cash provided by (used for) operating activities - continuing operations	$	(21	)	$	626		$	277		$	(742	)	$	140
Cash provided by operating activities - discontinued operations	—			—			—			—			—
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES	(21		)	626			277			(742		)	140

CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from investments	—			10			7			—			17
Payments for investments	(1		)	(5		)	(6		)	1			(11		)
Net purchases of short-term investments - non-fiduciary	—			355			60			—			415
Acquisition of businesses, net of cash acquired	—			—			(29		)	—			(29		)
Sale of businesses, net of cash sold	—			—			(1		)	—			(1		)
Capital expenditures	—			—			(45		)	—			(45		)
Cash provided by (used for) investing activities - continuing operations	(1		)	360			(14		)	1			346
Cash used for investing activities - discontinued operations	—			—			—			—			—
CASH PROVIDED BY (USED FOR) INVESTING ACTIVITIES	(1		)	360			(14		)	1			346

CASH FLOWS FROM FINANCING ACTIVITIES
Share repurchase	(569		)	—			—			—			(569		)
Advances from (to) affiliates	418			(933		)	(142		)	657			—
Issuance of shares for employee benefit plans	(109		)	—			—			—			(109		)
Issuance of debt	431			375			2			—			808
Repayment of debt	(61		)	(349		)	(294		)	—			(704		)
Cash dividends to shareholders	(89		)	—			—			—			(89		)
Noncontrolling interests and other financing activities	—			—			—			—			—
Cash provided by (used for) financing activities - continuing operations	21			(907		)	(434		)	657			(663		)
Cash used for financing activities - discontinued operations	—			—			—			—			—
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES	21			(907		)	(434		)	657			(663		)

EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			18			—			18
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(1		)	79			(153		)	(84		)	(159		)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	1			2,524			793			(2,562		)	756
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	—		$	2,603		$	640		$	(2,646	)	$	597

Condensed Consolidating Statement of Cash Flows



	Three months ended March 31, 2017
(millions)	Aon plc			Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES
Cash provided by (used for) operating activities - continuing operations	$	(28	)	$	1,117		$	533		$	(1,440	)	$	182
Cash provided by operating activities - discontinued operations	—			—			58			—			58
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES	(28		)	1,117			591			(1,440		)	240

CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from investments	—			565			4			(544		)	25
Payments for investments	—			(4		)	(546		)	541			(9		)
Net sales of short-term investments - non-fiduciary	—			94			—			—			94
Acquisition of businesses, net of cash acquired	—			—			(46		)	—			(46		)
Sale of businesses, net of cash sold	—			—			(2		)	—			(2		)
Capital expenditures	—			—			(34		)	—			(34		)
Cash provided by (used for) investing activities - continuing operations	—			655			(624		)	(3		)	28
Cash used for investing activities - discontinued operations	—			—			(15		)	—			(15		)
CASH PROVIDED BY (USED FOR) INVESTING ACTIVITIES	—			655			(639		)	(3		)	13

CASH FLOWS FROM FINANCING ACTIVITIES
Share repurchase	(126		)	—			—			—			(126		)
Advances from (to) affiliates	290			(1,990		)	(17		)	1,717			—
Issuance of shares for employee benefit plans	(85		)	—			—			—			(85		)
Issuance of debt	457			535			—			—			992
Repayment of debt	(421		)	(525		)	(4		)	—			(950		)
Cash dividends to shareholders	(87		)	—			—			—			(87		)
Noncontrolling interests and other financing activities	—			—			(2		)	—			(2		)
Cash provided by (used for) financing activities - continuing operations	28			(1,980		)	(23		)	1,717			(258		)
Cash used for financing activities - discontinued operations	—			—			—			—			—
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES	28			(1,980		)	(23		)	1,717			(258		)

EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			25			—			25
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	—			(208		)	(46		)	274			20
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR⁽¹⁾	—			1,633			660			(1,862		)	431
CASH AND CASH EQUIVALENTS AT END OF PERIOD⁽²⁾	$	—		$	1,425		$	614		$	(1,588	)	$	451


(1)	Includes $5 million of discontinued operations at December 31, 2016.


(2)	Includes $18 million of discontinued operations at March 31, 2017.

Accounting Principles and Practices (Policies)

3 Months Ended

Mar. 31, 2018

Accounting Policies [Abstract]

Basis of Presentation

The accompanying unaudited Condensed Consolidated Financial Statements and Notes thereto have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). The Condensed Consolidated Financial Statements include the accounts of Aon plc and all of its controlled subsidiaries (“Aon” or the “Company”). All intercompany accounts and transactions have been eliminated. The Condensed Consolidated Financial Statements include, in the opinion of management, all adjustments (consisting of normal recurring adjustments and reclassifications) necessary to present fairly the Company’s consolidated financial position, results of operations and cash flows for all periods presented.

Certain information and disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted.

Use of Estimates

The preparation of the accompanying Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of reserves and expenses. These estimates and assumptions are based on management’s best estimates and judgments. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment. Management believes its estimates to be reasonable given the current facts available. Aon adjusts such estimates and assumptions when facts and circumstances dictate. Illiquid credit markets, volatile equity markets, and foreign currency exchange rate movements increase the uncertainty inherent in such estimates and assumptions. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Changes in estimates resulting from continuing changes in the economic environment would, if applicable, be reflected in the financial statements in future periods.

New Accounting Standards

Adoption of New Accounting Standards

Presentation of Net Periodic Pension and Postretirement Benefit Costs

In March 2017, the Financial Accounting Standards Board (“FASB”) issued new accounting guidance on the presentation of net periodic pension cost and net periodic postretirement benefit cost. The new guidance requires that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. It also requires the other components of net periodic pension cost and net periodic postretirement benefit cost to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented. Additionally, only the service cost component is eligible for capitalization, when applicable. The Company has applied the new guidance retrospectively for the presentation of the service cost component and the other components of net periodic pension cost and net periodic postretirement benefit cost in the Condensed Consolidated Statement of Income and prospectively, on and after the effective date, for the capitalization of the service cost component of net periodic pension costs and net periodic postretirement benefit cost in assets. The new guidance allows a practical expedient that permits an employer to use the amounts disclosed in its pension and other postretirement benefit plan note for the prior comparative periods as the estimation basis for applying the retrospective presentation requirements. The Company has not applied the practical expedient upon adoption of this guidance. The new guidance was effective for Aon in the first quarter of 2018. The adoption of this guidance had no impact on the net income of the Company.

Upon adoption of the guidance, the presentation of the results reflect a change in Operating income offset by an equal and offsetting change in Other income (expense) for the period ended March 31, 2017 as follows:



	Three Months Ended March 31, 2017
	As Reported			Adjustments			As Adjusted
Operating income ⁽¹⁾	$	343		$	(8	)	$	335
Other income (expense)	$	(10	)	$	8		$	(2	)


(1)	Reclassification from Operating income is recorded in Compensation and benefits.

Income Tax Consequences of Intercompany Transactions

In October 2016, the FASB issued new accounting guidance on the income tax consequences of intra-entity asset transfers other than inventory. The guidance requires that the seller and buyer recognize the consolidated current and deferred income tax consequences of a transaction in the period the transaction occurs rather than deferring to a future period and recognizing those consequences when the asset has been sold to an outside party or otherwise recovered through use (i.e. depreciated, amortized, or impaired). The Company has applied the new guidance on a modified retrospective basis with a cumulative effect adjustment to retained earnings as of the beginning of the period of adoption. The new guidance was effective for Aon in the first quarter of 2018. Upon the adoption of this guidance on January 1, 2018, the Company recognized an increase to Deferred tax assets of $23 million, an increase to Deferred tax liabilities of $12 million, and a decrease to Other non-current assets of $26 million on the Condensed Consolidated Statement of Financial Position through a cumulative adjustment of $15 million decrease to Retained earnings. For the three months ended March 31, 2018, the impact of adopting this standard on the Condensed Consolidated Statement of Income was insignificant.

Statement of Cash Flows

In August 2016, the FASB issued new accounting guidance on the classification of certain cash receipts and cash payments. Under the new guidance, an entity no longer has discretion to choose the classification for a number of transactions, including contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies, and distributions received from equity method investees. The new standard was effective for the Company in the first quarter of 2018. The adoption of this guidance had no impact on the Company’s Condensed Consolidated Statements of Cash Flows.

Financial Assets and Liabilities

In January 2016, the FASB issued new accounting guidance on recognition and measurement of financial assets and financial liabilities. The amendments in the new guidance make targeted improvements, which include the requirement to measure equity investments with readily determinable fair values at fair value through net income, simplification of the impairment assessment for equity investments without readily determinable fair values, adjustments to existing and additional disclosure requirements, and additional tax considerations. The Company applied the amendments by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption, with the exception of the amendments related to equity securities without readily determinable fair values, including disclosure requirements, which were applied prospectively. Upon the adoption of this guidance on January 1, 2018, the Company recognized an increase to Accumulated other comprehensive loss of $1 million on the Condensed Consolidated Statement of Financial Position through a cumulative adjustment of $1 million increase to Retained earnings. For the three months ended March 31, 2018, the impact of adopting this standard on the Condensed Consolidated Statement of Income was insignificant.

Revenue Recognition

In May 2014, the FASB issued a new accounting standard on revenue from contracts with customers (the “Standard” or “ASC 606”), which supersedes nearly all existing revenue recognition guidance under U.S. GAAP (“ASC 605”). The core principal of the Standard is that an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Standard also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments, changes in judgments, and assets recognized from costs incurred to obtain or fulfill a contract. Two methods of transition were permitted upon adoption: full retrospective and modified retrospective. The Company elected to apply the modified retrospective adoption approach to all contracts. Under this approach, prior periods were not restated. Rather, revenues and other disclosures for prior periods were provided in the notes to the financial statements as previously reported under ASC 605, and the cumulative effect of initially applying the guidance was recognized as an adjustment to Retained earnings.

The following summarizes the significant changes to the Company as a result of the adoption of ASC 606 on January 1, 2018.

•

The Company previously recognized revenue either at a point in time or over a period of time based on the transfer of value to customers or as the remuneration became determinable. Under ASC 606, the revenue related to certain brokerage services recognized over a period of time is recognized on the effective date of the associated policies when control of the policy transfers to the customer. As a result, revenue from these arrangements are typically recognized in earlier periods under ASC 606 in comparison to ASC 605, changing the timing and amount of revenue recognized for annual and interim periods. This change resulted in a significant shift in timing of interim revenue for the Reinsurance Solutions revenue line and, to a lesser extent, certain other brokerage services.

•

The Standard provides guidance on accounting for certain revenue-related costs including when to capitalize costs associated with obtaining and fulfilling a contract. The majority of these costs were previously expensed as incurred under ASC 605. Assets recognized for the costs to obtain a contract, which includes certain sales commissions, are amortized on a systematic basis that is consistent with the transfer of the services to which the asset relates, considering anticipated renewals when applicable. For situations where the renewal period is one year or less and renewal costs are commensurate with the initial contract, the Company applied a practical expedient and recognizes the costs of obtaining a contract as an expense when incurred. Assets recognized as costs to fulfill a contract, which includes internal costs related to pre-placement broking activities, as well as other costs, are amortized on a systematic basis that is consistent with the transfer of the services to which the asset relates, which is generally less than one year.

As a result of applying the modified retrospective method to adopt ASC 606, the following adjustments were made to the Condensed Consolidated Statement of Financial position as of January 1, 2018:



	December 31, 2017					January 1, 2018
(millions)	As Reported		Adjustments			As Adjusted
ASSETS
Receivables, net	$	2,478	$	252		$	2,730
Other current assets	$	289	$	298		$	587
Deferred tax assets	389		(128		)	261
Other non-current assets	$	307	$	145		$	452

LIABILITIES
Accounts payable and accrued liabilities	$	1,961	$	8		$	1,969
Other current liabilities	$	870	$	13		$	883
Deferred tax liabilities	$	127	$	42		$	169
Other non-current liabilities	$	1,102	$	(3	)	$	1,099

EQUITY
Total equity	$	4,648	$	507		$	5,155

The following tables summarize the impacts of adopting ASC 606 on the Company’s Condensed Consolidated Statement of Income, Financial Position, and Cash Flows as of and for the three months ended March 31, 2018.

Condensed Consolidated Statement of Income



	Three Months Ended March 31, 2018
(millions)	As Reported			Adjustments			Balances Without Adoption of ASC 606
Revenue
Total revenue	$	3,090		$	(413	)	$	2,677
Expenses
Compensation and benefits	$	1,616		$	(65	)	$	1,551
Other income (expense)	$	(15	)	$	1		$	(14	)
Income taxes	$	114		$	(82	)	$	32

Adoption of ASC 606 for the first quarter of 2018 was an impact of $265 million on net income from continuing operations, or $1.06 per share.

Condensed Consolidated Statement of Financial Position



	As of March 31, 2018
(millions)	As Reported		Adjustments			Balances Without Adoption of ASC 606
ASSETS
Receivables, net	$	3,053	$	(644	)	$	2,409
Other current assets	$	609	$	(239	)	$	370
Deferred tax assets	$	296	$	130		$	426
Other non-current assets	$	439	$	(143	)	$	296

LIABILITIES
Other current liabilities	$	972	$	(52	)	$	920
Deferred tax liabilities	$	243	$	(68	)	$	175
Other non-current liabilities	$	1,105	$	3		$	1,108

EQUITY
Total equity	$	5,385	$	(779	)	$	4,606

Condensed Consolidated Statement of Cash Flows



	Three Months Ended March 31, 2018
(millions)	As Reported			Adjustments			Balances Without Adoption of ASC 606
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	610		$	(265	)	$	345
Deferred income taxes	$	26		$	(28	)	$	(2	)
Receivables, net	$	(269	)	$	400		$	131
Accounts payable and accrued liabilities	$	(439	)	$	8		$	(431	)
Current income taxes	$	30		$	(54	)	$	(24	)
Other assets and liabilities	$	38		$	(61	)	$	(23	)

The adoption of ASC 606 had no impact on total Cash Provided by Operating Activities.

Refer to Note 3 “Revenue from Contracts with Customers” to the Condensed Consolidated Financial Statements for further information.

Accounting Standards Issued But Not Yet Adopted

Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income

In February 2018, the FASB issued amendments related to reclassification of certain tax effects from accumulated other comprehensive income. The amendments allow a reclassification from accumulated comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. In addition, the entity is required to provide certain disclosures regarding stranded tax effects. The amendments are effective for Aon in the first quarter of 2019 and early adoption is permitted, including adoption in any interim period. The amendments should be applied either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act is recognized. The Company is currently evaluating the impact that the amendments will have on the Condensed Consolidated Financial Statements and the period in which it plans to adopt.

Targeted Improvements to Accounting for Hedging Activities

In August 2017, the FASB issued new accounting guidance on targeted improvements to accounting for hedging activities. The new guidance amends its hedge accounting model to enable entities to better portray their risk management activities in the financial statements. The guidance eliminates the requirement to separately measure and report hedge ineffectiveness and requires the effect of a hedging instrument to be presented in the same income statement line as the hedged item. An entity will apply the new guidance on a modified retrospective basis with a cumulative effect adjustment to accumulated other comprehensive income with a corresponding adjustment to retained earnings as of the beginning of the period of adoption. Changes to income statement presentation and financial statement disclosures will be applied prospectively. The new guidance is effective for Aon in the first quarter of 2019 and early adoption is permitted. The Company is currently evaluating the impact that the standard will have on the Condensed Consolidated Financial Statements and the period in which it plans to adopt.

Simplifying the Test for Goodwill Impairment

In January 2017, the FASB issued new accounting guidance on simplifying the test for goodwill impairment. Currently the standard requires an entity to perform a two-step test to determine the amount, if any, of goodwill impairment. In Step 1, an entity compares the fair value of a reporting unit with its carrying amount, including goodwill. If the carrying amount of the reporting unit exceeds its fair value, the entity performs Step 2 and compares the implied fair value of goodwill with the carrying amount of that goodwill for that reporting unit. An impairment charge equal to the amount by which the carrying amount of goodwill for the reporting unit exceeds the implied fair value of that goodwill is recorded, limited to the amount of goodwill allocated to that reporting unit. The new guidance removes Step 2. An entity will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit’s carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The new guidance does not amend the optional qualitative assessment of goodwill impairment. An entity will apply the new guidance on a prospective basis. The new guidance is effective for Aon in the first quarter of 2020 and early adoption is permitted. The Company is currently evaluating the impact that the standard will have on the Condensed Consolidated Financial Statements and the period in which it plans to adopt.

Credit Losses

In June 2016, the FASB issued new accounting guidance on the measurement of credit losses on financial instruments. The new guidance replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. An entity will apply the new guidance through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The guidance is effective for Aon in the first quarter of 2020 and early adoption is permitted beginning in the first quarter of 2019. Aon is currently evaluating the impact that the standard will have on its Condensed Consolidated Financial Statements, as well as the method of transition and period of adoption.

Leases

In February 2016, the FASB issued new accounting guidance on leases, which requires lessees to recognize assets and liabilities for most leases. Under the new guidance, a lessee should recognize in the Condensed Consolidated Statement of Financial Position a liability to make lease payments and a right-of-use asset representing its right to use the underlying asset for the lease term. The recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee have not significantly changed from current U.S. GAAP standards. The new standard will be effective for the Company in the first quarter of 2019, with early application permitted. In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The modified retrospective approach includes a number of optional practical expedients that entities may elect to apply. These practical expedients relate to the identification and classification of leases that commenced before the effective date, initial direct costs for leases that commenced before the effective date, and the ability to use hindsight in evaluating lessee options to extend or terminate a lease or to purchase the underlying asset. The Company is currently evaluating the period of adoption.

A preliminary assessment to determine the impacts of the new accounting standard has been performed, including its impact on accounting and operational processes. The Company expects to recognize significant right of use assets and lease liabilities on its Condensed Consolidated Statements of Financial Position, but is unable to provide quantitative impacts at this time. Additionally, the Company expects to expand its disclosures around lease arrangements. The Company expects to adopt the new accounting standard in the first quarter of 2019 and is currently evaluating the practical expedients that will be applied.

Derivatives

The Company is exposed to market risks, including changes in foreign currency exchange rates and interest rates. To manage the risk related to these exposures, the Company enters into various derivative instruments that reduce these risks by creating offsetting exposures. The Company does not enter into derivative transactions for trading or speculative purposes.

Foreign Exchange Risk Management

The Company is exposed to foreign exchange risk when it earns revenues, pays expenses, enters into monetary intercompany transfers or other transactions denominated in a currency that differs from its functional currency. The Company uses foreign exchange derivatives, typically forward contracts, options and cross currency swaps, to reduce its overall exposure to the effects of currency fluctuations on cash flows. These exposures are hedged, on average, for less than two years. These derivatives are accounted for as hedges, and changes in fair value are recorded each period in Other comprehensive income (loss) in the Condensed Consolidated Statements of Comprehensive Income.

The Company also uses foreign exchange derivatives, typically forward contracts and options, to economically hedge the currency exposure of the Company’s global liquidity profile, including monetary assets or liabilities that are denominated in a non-functional currency of an entity, typically on a rolling 30-day basis, but may be for up to one year in the future. These derivatives are not accounted for as hedges, and changes in fair value are recorded each period in Other income (expense) in the Condensed Consolidated Statements of Income.

Fair Value Measurement

The following methods and assumptions are used to estimate the fair values of the Company’s financial instruments:

Money market funds consist of institutional prime, treasury, and government money market funds. The Company reviews treasury and government money market funds to obtain reasonable assurance that the fund net asset value is $1 per share, and reviews the floating net asset value of institutional prime money market funds for reasonableness.

Equity investments consist of domestic and international equity securities and equity derivatives valued using the closing stock price on a national securities exchange. Over the counter equity derivatives are valued using observable inputs such as underlying prices of the underlying security and volatility. On a sample basis the Company reviews the listing of Level 1 equity securities in the portfolio and agrees the closing stock prices to a national securities exchange, and independently verifies the observable inputs for Level 2 equity derivatives and securities.

Fixed income investments consist of certain categories of bonds and derivatives. Corporate, government, and agency bonds are valued by pricing vendors who estimate fair value using recently executed transactions and proprietary models based on observable inputs, such as interest rate spreads, yield curves, and credit risk. Asset-backed securities are valued by pricing vendors who estimate fair value using discounted cash flow models utilizing observable inputs based on trade and quote activity of securities with similar features. Fixed income derivatives are valued by pricing vendors using observable inputs such as interest rates and yield curves. The Company obtains an understanding of the models, inputs, and assumptions used in developing prices provided by its vendors through discussions with the fund managers. The Company independently verifies the observable inputs, as well as assesses assumptions used for reasonableness based on relevant market conditions and internal Company guidelines. If an assumption is deemed unreasonable, based on the Company’s guidelines, it is then reviewed by management and the fair value estimate provided by the vendor is adjusted, if deemed appropriate. These adjustments do not occur frequently and historically are not material to the fair value estimates used in the Condensed Consolidated Financial Statements.

Derivatives are carried at fair value, based upon industry standard valuation techniques that use, where possible, current market-based or independently sourced pricing inputs, such as interest rates, currency exchange rates, or implied volatilities.

Debt is carried at outstanding principal balance, less any unamortized discount or premium. Fair value is based on quoted market prices or estimates using discounted cash flow analyses based on current borrowing rates for similar types of borrowing arrangements.

Accounting Principles and Practices Accounting Principles and Practices (Tables)

3 Months Ended

Mar. 31, 2018

Accounting Policies [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The following tables summarize the impacts of adopting ASC 606 on the Company’s Condensed Consolidated Statement of Income, Financial Position, and Cash Flows as of and for the three months ended March 31, 2018.

Condensed Consolidated Statement of Income



	Three Months Ended March 31, 2018
(millions)	As Reported			Adjustments			Balances Without Adoption of ASC 606
Revenue
Total revenue	$	3,090		$	(413	)	$	2,677
Expenses
Compensation and benefits	$	1,616		$	(65	)	$	1,551
Other income (expense)	$	(15	)	$	1		$	(14	)
Income taxes	$	114		$	(82	)	$	32

As a result of applying the modified retrospective method to adopt ASC 606, the following adjustments were made to the Condensed Consolidated Statement of Financial position as of January 1, 2018:



	December 31, 2017					January 1, 2018
(millions)	As Reported		Adjustments			As Adjusted
ASSETS
Receivables, net	$	2,478	$	252		$	2,730
Other current assets	$	289	$	298		$	587
Deferred tax assets	389		(128		)	261
Other non-current assets	$	307	$	145		$	452

LIABILITIES
Accounts payable and accrued liabilities	$	1,961	$	8		$	1,969
Other current liabilities	$	870	$	13		$	883
Deferred tax liabilities	$	127	$	42		$	169
Other non-current liabilities	$	1,102	$	(3	)	$	1,099

EQUITY
Total equity	$	4,648	$	507		$	5,155

Condensed Consolidated Statement of Financial Position



	As of March 31, 2018
(millions)	As Reported		Adjustments			Balances Without Adoption of ASC 606
ASSETS
Receivables, net	$	3,053	$	(644	)	$	2,409
Other current assets	$	609	$	(239	)	$	370
Deferred tax assets	$	296	$	130		$	426
Other non-current assets	$	439	$	(143	)	$	296

LIABILITIES
Other current liabilities	$	972	$	(52	)	$	920
Deferred tax liabilities	$	243	$	(68	)	$	175
Other non-current liabilities	$	1,105	$	3		$	1,108

EQUITY
Total equity	$	5,385	$	(779	)	$	4,606



	Three Months Ended March 31, 2018
(millions)	As Reported			Adjustments			Balances Without Adoption of ASC 606
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	610		$	(265	)	$	345
Deferred income taxes	$	26		$	(28	)	$	(2	)
Receivables, net	$	(269	)	$	400		$	131
Accounts payable and accrued liabilities	$	(439	)	$	8		$	(431	)
Current income taxes	$	30		$	(54	)	$	(24	)
Other assets and liabilities	$	38		$	(61	)	$	(23	)

Upon adoption of the guidance, the presentation of the results reflect a change in Operating income offset by an equal and offsetting change in Other income (expense) for the period ended March 31, 2017 as follows:



	Three Months Ended March 31, 2017
	As Reported			Adjustments			As Adjusted
Operating income ⁽¹⁾	$	343		$	(8	)	$	335
Other income (expense)	$	(10	)	$	8		$	(2	)


(1)	Reclassification from Operating income is recorded in Compensation and benefits.

Revenue from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2018

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

Consolidated Revenue 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, 2018
United States	$	1,116
Americas other than United States	237
United Kingdom	484
Europe, Middle East, & Africa other than United Kingdom	979
Asia Pacific	274
Total revenue	$	3,090

The following table summarizes revenue from contracts with customers by principal service line (in millions):



	Three months ended March 31, 2018
Commercial Risk Solutions	$	1,184
Reinsurance Solutions	742
Retirement Solutions	424
Health Solutions	451
Data & Analytic Services	294
Elimination	(5		)
Total revenue	$	3,090

Capitalized Contract Cost

The changes in the net carrying amount of capitalized cost to fulfill contracts with customers are as follows (in millions):



	Three months ended March 31, 2018
Balance at beginning of period	$	298
Additions	370
Amortization	(432		)
Impairment	—
Foreign currency translation and other	4
Balance at end of period	$	240

The changes in the net carrying amount of capitalized cost to obtain contracts with customers are as follows (in millions):



	Three months ended March 31, 2018
Balance at beginning of period	$	145
Additions	8
Amortization	(10		)
Impairment	—
Foreign currency translation and other	1
Balance at end of period	$	144

Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

The following table presents the financial results of the Divested Business (in millions):



	Three months ended March 31
	2018			2017
Revenue
Total revenue	$	—		$	527
Expenses
Total operating expenses	3			470
Income (loss) from discontinued operations before income taxes	(3		)	57
Income tax expense (benefit)	(1		)	17
Income (loss) from discontinued operations excluding gain, net of tax	(2		)	40
Gain on sale of discontinued operations, net of tax	8			—
Net income from discontinued operations	$	6		$	40

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Other Financial Data (Tables)

3 Months Ended

Mar. 31, 2018

Other Financial Data [Abstract]

Schedule of Other Income (Expense)

Other income (expense) consists of the following (in millions):



	Three months ended March 31
	2018			2017
Foreign currency remeasurement gain (loss)	$	(16	)	$	(10	)
Loss on disposal of business	(1		)	(2		)
Pension and other postretirement income	2			8
Equity earnings (losses)	1			6
Gain (loss) on financial instruments	—			(4		)
Other	(1		)	—
Total	$	(15	)	$	(2	)

Schedule of Allowance for Doubtful Accounts

An analysis of the allowance for doubtful accounts are as follows (in millions):



	Three months ended March 31
	2018			2017
Balance at beginning of period	$	59		$	56
Provision charged to Other general expenses	8			6
Accounts written off, net of recoveries	(3		)	(3		)
Foreign currency translation	1			2
Balance at end of period	$	65		$	61

Schedule of Other Current Assets

The components of Other current assets are as follows (in millions):



As of	March 31, 2018		December 31, 2017
Taxes receivable	$	118	$	114
Prepaid expenses	142		126
Receivables from the Divested Business ⁽¹⁾	6		28
Cost to fulfill contracts with customers ⁽²⁾	240		—
Other	103		21
Total	$	609	$	289


(1)	Refer to Note 4 “Discontinued Operations” for additional information.


(2)	Refer to Note 3 “Revenue from Contracts with Customers” for additional information.

Schedule of Other Non-current Assets

The components of Other non-current assets are as follows (in millions):



As of	March 31, 2018		December 31, 2017
Investments	$	58	$	57
Taxes receivable	83		84
Cost to obtain contracts with customers ⁽¹⁾	144		—
Other	154		166
Total	$	439	$	307


(1)	Refer to Note 3 “Revenue from Contracts with Customers” for additional information.

Schedule of Other Current Liabilities

The components of Other current liabilities are as follows (in millions):



As of	March 31, 2018		December 31, 2017
Deferred revenue ⁽¹⁾	$	329	$	311
Taxes payable ⁽²⁾	164		139
Other	479		420
Total	$	972	$	870


(1)	During the three months ended March 31, 2018, $100 million was recognized in the Condensed Consolidated Statement of Income.


(2)	Includes a provisional estimate of $42 million for the current portion of the Transition Tax as of March 31, 2018 and December 31, 2017.

Schedule of Other Non-current Liabilities

The components of Other non-current liabilities are as follows (in millions):



As of	March 31, 2018		December 31, 2017
Taxes payable ⁽¹⁾	$	538	$	529
Deferred revenue	56		49
Leases	156		153
Compensation and benefits	62		67
Other	293		304
Total	$	1,105	$	1,102

(1) Includes a provisional estimate of $222 million for the non-current portion of the Transition Tax as of March 31, 2018 and December 31, 2017.

Acquisitions and Dispositions of Businesses (Tables)

3 Months Ended

Mar. 31, 2018

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

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):



	Three months ended March 31, 2018
Cash	$	26
Deferred and contingent consideration	3
Aggregate consideration transferred	$	29

Assets acquired:
Receivables, net	2
Goodwill	12
Intangible assets, net	16
Other assets	3
Total assets acquired	33
Liabilities assumed:
Current liabilities	4
Total liabilities assumed	4
Net assets acquired	$	29

Restructuring (Tables)

3 Months Ended

Mar. 31, 2018

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

The following table summarizes restructuring and separation costs by type that have been incurred through March 31, 2018 and are estimated to be incurred through the end of the Restructuring Plan (in millions). Estimated costs may be revised in future periods as these assumptions are updated:



	Three months ended March 31, 2018		Inception to Date		Estimated Remaining Costs		Estimated Total Cost ⁽¹⁾
Workforce reduction	$	33	$	332	$	118	$	450
Technology rationalization ⁽²⁾	10		43		87		130
Lease consolidation ⁽²⁾	3		11		74		85
Asset impairments	1		27		23		50
Other costs associated with restructuring and separation ^{(2) (3)}	27		158		152		310
Total restructuring and related expenses	$	74	$	571	$	454	$	1,025

(1)

Actual costs, when incurred, may vary due to changes in the assumptions built into the Restructuring Plan. Significant assumptions that may change when plans are finalized and implemented include, but are not limited to, changes in severance calculations, changes in the assumptions underlying sublease loss calculations due to changing market conditions, and changes in the overall analysis that might cause the Company to add or cancel component initiatives.

(2)

Contract termination costs included within Technology rationalization were $1 million for the three months ended March 31, 2018 and $2 million since inception. Contract termination costs included within Lease consolidations were $2 million for the three months ended March 31, 2018 and $10 million since inception. Contract termination costs included within Other costs associated with restructuring and separation were $4 million for the three months ended March 31, 2018 and $7 million since inception. Total estimated contract termination costs to be incurred under the Restructuring Plan associated with Technology rationalizations, Lease consolidations, and Other costs associated with restructuring and separation, respectively, are $15 million, $80 million, and $80 million.


(3)	Other costs associated with the Restructuring Plan include those to separate the Divested Business, as well as moving costs, and consulting and legal fees. These costs are generally recognized when incurred.

Schedule of Restructuring Reserve by Type of Cost

The changes in the Company’s liabilities for the Restructuring Plan as of March 31, 2018 are as follows (in millions):




Balance as of December 31, 2017	$	186
Expensed	74
Cash payments	(98		)
Foreign currency translation and other	(2		)
Balance as of March 31, 2018	$	160

Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in the Net Carrying Amount of Goodwill by Operating Segment

The changes in the net carrying amount of goodwill for the three months ended March 31, 2018 are as follows (in millions):



Balance as of December 31, 2017	$	8,358
Goodwill related to current year acquisitions	12
Goodwill related to prior year acquisitions	4
Foreign currency translation and other	176
Balance as of March 31, 2018	$	8,550

Schedule of Other Intangible Assets by Asset Class

Other intangible assets by asset class are as follows (in millions):



	March 31, 2018						December 31, 2017
	Gross Carrying Amount		Accumulated Amortization and Impairment		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization and Impairment		Net Carrying Amount
Customer related and contract based	$	2,615	$	1,496	$	1,119	$	2,550	$	1,415	$	1,135
Tradenames	1,052		589		463		1,047		533		514
Technology and other	426		346		80		416		332		84
Total	$	4,093	$	2,431	$	1,662	$	4,013	$	2,280	$	1,733

Schedule of Estimated Future Amortization Expense on Intangible Assets

The estimated future amortization for finite lived intangible assets as of March 31, 2018 is as follows (in millions):



Remainder of 2018	$	332
2019	430
2020	252
2021	151
2022	101
Thereafter	396
Total	$	1,662

Debt (Tables)

3 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Commercial paper outstanding, which is included in Short-term debt and current portion of long-term debt in the Company’s Condensed Consolidated Statements of Financial Position, is as follows (in millions):



As of	March 31, 2018		December 31, 2017
Commercial paper outstanding	$	399	$	—

The weighted average commercial paper outstanding and its related interest rates are as follows (in millions except percentages):



	Three months ended March 31
	2018			2017
Weighted average commercial paper outstanding	$	125		$	367
Weighted average interest rate of commercial paper outstanding	(0.50		)%	0.12		%

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21521-112644

+ Details

Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2018

Equity [Abstract]

Schedule of Components of Weighted Average Number of Shares

Weighted average ordinary shares outstanding are as follows (in millions):



	Three months ended March 31
	2018	2017
Basic weighted average ordinary shares outstanding	248.5	264.8
Dilutive effect of potentially issuable shares	1.7	2.2
Diluted weighted average ordinary shares outstanding	250.2	267.0

Components of Accumulated Other Comprehensive Loss, Net of Related Tax

Changes in Accumulated other comprehensive loss by component, net of related tax, are as follows (in millions):



	Change in Fair Value of Financial Instruments ⁽¹⁾			Foreign Currency Translation Adjustments			Post-Retirement Benefit Obligation ⁽²⁾			Total
Balance at December 31, 2017	$	(25	)	$	(879	)	$	(2,592	)	$	(3,496	)
Adoption of new accounting guidance ⁽³⁾	(1		)	—			—			(1		)
Balance at January 1, 2018	(26		)	(879		)	(2,592		)	(3,497		)
Other comprehensive income before reclassifications, net	11			244			22			277
Amounts reclassified from accumulated other comprehensive loss:
Amounts reclassified from accumulated other comprehensive income	4			—			34			38
Tax expense	(1		)	—			(8		)	(9		)
Amounts reclassified from accumulated other comprehensive income, net	3			—			26			29
Net current period other comprehensive income	14			244			48			306
Balance at March 31, 2018	$	(12	)	$	(635	)	$	(2,544	)	$	(3,191	)


(1)	Reclassifications from this category included in Accumulated other comprehensive loss are recorded in Other income (expense), Other general expenses, and Compensation and benefits. See Note 15 “Derivatives and Hedging” for additional information regarding the Company’s derivative and hedging activity.


(2)	Reclassifications from this category included in Accumulated other comprehensive loss are recorded in Other income (expense).


(3)	Refer to Note 2 “Accounting Principles and Practices” for further information.

Employee Benefits (Tables)

3 Months Ended

Mar. 31, 2018

Retirement Benefits [Abstract]

Components of net periodic benefit cost for the pension plans

The following table provides the components of the net periodic cost (benefit) recognized in the Condensed Consolidated Statements of Income for Aon’s material U.K., U.S., and other significant international pension plans located in the Netherlands and Canada. Service cost is reported in Compensation and benefits and all other components are reported in Other income (expense) as follows (in millions):



	Three months ended March 31
	U.K.						U.S.						Other
	2018			2017			2018			2017			2018			2017
Service cost	$	—		$	—		$	—		$	—		$	—		$	—
Interest cost	29			30			25			24			7			6
Expected return on plan assets, net of administration expenses	(51		)	(48		)	(36		)	(35		)	(12		)	(11		)
Amortization of net actuarial loss	8			7			15			13			3			3
Net periodic cost (benefit)	(14		)	(11		)	4			2			(2		)	(2		)
Loss on pension settlement	7			—			—			—			—			—
Total net periodic cost (benefit)	$	(7	)	$	(11	)	$	4		$	2		$	(2	)	$	(2	)

Share-Based Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-based compensation expense recognized in continuing operations

The following table summarizes share-based compensation expense recognized in the Condensed Consolidated Statements of Income in Compensation and benefits (in millions):



	Three months ended March 31
	2018		2017
Restricted share units (“RSUs”)	$	58	$	55
Performance share awards (“PSAs”)	16		19
Employee share purchase plans	3		4
Total share-based compensation expense	$	77	$	78

Restricted share unit activity

The following table summarizes the status of the Company’s RSUs, including shares related to the Divested Business (shares in thousands, except fair value):



	2018				2017
	Shares		Fair Value at Date of Grant		Shares		Fair Value at Date of Grant
Non-vested at beginning of period	4,849		$	104	6,195		$	89
Granted	505		144		614		119
Vested	(806	)	101		(960	)	90
Forfeited	(63	)	105		(50	)	91
Non-vested at end of period	4,485		$	109	5,799		$	92

Performance-based plans

Information as of March 31, 2018 regarding the Company’s target PSAs granted and shares that would be issued at current performance levels for PSAs granted during the three months ended March 31, 2018 and the years ended December 31, 2017 and 2016, respectively, is as follows (shares in thousands and dollars in millions, except fair value):



	March 31, 2018		December 31, 2017		December 31, 2016
Target PSAs granted during period	561		548		750
Weighted average fair value per share at date of grant	$	135	$	114	$	100
Number of shares that would be issued based on current performance levels	561		942		745
Unamortized expense, based on current performance levels	$	75	$	68	$	19

Derivatives and Hedging (Tables)

3 Months Ended

Mar. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Notional and fair values of derivative instruments

The notional and fair values of derivative instruments are as follows (in millions):



	Notional Amount				Net Amount of Derivative Assets Presented in the Statements of Financial Position ⁽¹⁾				Net Amount of Derivative Liabilities Presented in the Statements of Financial Position ⁽²⁾
	March 31, 2018		December 31, 2017		March 31, 2018		December 31, 2017		March 31, 2018		December 31, 2017
Foreign exchange contracts
Accounted for as hedges	$	758	$	701	$	45	$	31	$	1	$	3
Not accounted for as hedges ⁽³⁾	329		254		1		1		1		3
Total	$	1,087	$	955	$	46	$	32	$	2	$	6


(1)	Included within Other current assets ($13 million at March 31, 2018 and $9 million at December 31, 2017) or Other non-current assets ($33 million at March 31, 2018 and $23 million at December 31, 2017).


(2)	Included within Other current liabilities ($1 million at March 31, 2018 and $3 million at December 31, 2017) or Other non-current liabilities ($1 million at March 31, 2018 and $3 million at December 31, 2017).


(3)	These contracts typically are for 30 day durations and executed close to the last day of the most recent reporting month, thereby resulting in nominal fair values at the balance sheet date.

Derivative gains (losses)

The amounts of derivative gains (losses) recognized in the Condensed Consolidated Financial Statements are as follows (in millions):



	Three Months Ended
	March 31, 2018		March 31, 2017
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss	$	14	$	6

Location of future reclassification from Accumulated Other Comprehensive Loss
Compensation and benefits	$	—	$	8
Other general expenses	$	4	$	1
Other income (expense)	$	10	$	(3	)

The amounts of derivative gains (loss) reclassified from Accumulated other comprehensive loss into the Condensed Consolidated Statements of Income (effective portion) are as follows (in millions):



	Three Months Ended
	March 31, 2018			March 31, 2017
Compensation and benefits	$	1		$	13
Other general expenses	(1		)	(1		)
Interest expense	(1		)	—
Other income (expense)	(3		)	(2		)
Total	$	(4	)	$	10

Fair Value Measurements and Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Schedule of assets and liabilities that are measured at fair value on a recurring basis

The following tables present the categorization of the Company’s assets and liabilities that are measured at fair value on a recurring basis at March 31, 2018 and December 31, 2017 (in millions):



			Fair Value Measurements Using
	Balance at March 31, 2018		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds ⁽¹⁾	$	1,502	$	1,502	$	—	$	—
Other investments:
Government bonds	$	1	$	—	$	1	$	—
Equity investments	$	3	$	—	$	3	$	—
Derivatives: ⁽²⁾
Gross foreign exchange contracts	$	54	$	—	$	54	$	—
Liabilities:
Derivatives: ⁽²⁾
Gross foreign exchange contracts	$	8	$	—	$	8	$	—


(1)	Included within Fiduciary assets or Short-term investments in the Condensed Consolidated Statements of Financial Position, depending on their nature and initial maturity.


(2)	Refer to Note 15 “Derivatives and Hedging” for additional information regarding the Company’s derivatives and hedging activity.



			Fair Value Measurements Using
	Balance at December 31, 2017		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds ⁽¹⁾	$	1,847	$	1,847	$	—	$	—
Other investments:
Government bonds	$	1	$	—	$	1	$	—
Equity investments	$	4	$	—	$	4	$	—
Derivatives: ⁽²⁾
Gross foreign exchange contracts	$	33	$	—	$	33	$	—
Liabilities:
Derivatives: ⁽²⁾
Gross foreign exchange contracts	$	6	$	—	$	6	$	—


(1)	Included within Fiduciary assets or Short-term investments in the Condensed Consolidated Statements of Financial Position, depending on their nature and initial maturity.


(2)	Refer to Note 15 “Derivatives and Hedging” for additional information regarding the Company’s derivatives and hedging activity.

Schedule of financial instruments where the carrying amounts and fair values differ

The fair value of debt is classified as Level 2 of the fair value hierarchy. The following table discloses the Company’s financial instruments where the carrying amounts and fair values differ (in millions):



	March 31, 2018				December 31, 2017
	Carrying Value		Fair Value		Carrying Value		Fair Value
Current portion of long-term debt	$	—	$	—	$	299	$	301
Long-term debt	$	5,697	$	6,077	$	5,667	$	6,267

Segment Information (Tables)	3 Months Ended
Segment Information (Tables)	Mar. 31, 2018
Segment Reporting [Abstract]
Schedule of reconciliation of segment income before tax to income from continuing operations before income taxes

Guarantee of Registered Securities (Tables)

3 Months Ended

Mar. 31, 2018

Guarantee of Registered Securities [Abstract]

Condensed Consolidating Statements of Income

Condensed Consolidating Statement of Income



	Three months ended March 31, 2018
(millions)	Aon plc			Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Revenue
Total revenue	$	—		$	—		$	3,090		$	—		$	3,090
Expenses
Compensation and benefits	19			1			1,596			—			1,616
Information technology	—			—			115			—			115
Premises	—			—			93			—			93
Depreciation of fixed assets	—			—			39			—			39
Amortization and impairment of intangible assets	—			—			110			—			110
Other general expenses	1			—			317			—			318
Total operating expenses	20			1			2,270			—			2,291
Operating income (loss)	(20		)	(1		)	820			—			799
Interest income	—			14			—			(10		)	4
Interest expense	(49		)	(24		)	(7		)	10			(70		)
Intercompany interest income (expense)	4			(128		)	124			—			—
Intercompany other income (expense)	(71		)	(5		)	76			—			—
Other income (expense)	(7		)	(6		)	(5		)	3			(15		)
Income (loss) from continuing operations before income taxes	(143		)	(150		)	1,008			3			718
Income tax expense (benefit)	(16		)	(27		)	157			—			114
Net income (loss) from continuing operations	(127		)	(123		)	851			3			604
Income from discontinued operations, net of tax	—			—			6			—			6
Net income (loss) before equity in earnings of subsidiaries	(127		)	(123		)	857			3			610
Equity in earnings of subsidiaries, net of tax	718			704			581			(2,003		)	—
Net income	591			581			1,438			(2,000		)	610
Less: Net income attributable to noncontrolling interests	—			—			16			—			16
Net income attributable to Aon shareholders	$	591		$	581		$	1,422		$	(2,000	)	$	594

Condensed Consolidating Statement of Income



	Three months ended March 31, 2017
(millions)	Aon plc			Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Revenue
Total revenue	$	—		$	—		$	2,381		$	—		$	2,381
Expenses
Compensation and benefits	52			3			1,414			—			1,469
Information technology	—			—			88			—			88
Premises	—			—			84			—			84
Depreciation of fixed assets	—			—			54			—			54
Amortization and impairment of intangible assets	—			—			43			—			43
Other general expenses	5			2			301			—			308
Total operating expenses	57			5			1,984			—			2,046
Operating income (loss)	(57		)	(5		)	397			—			335
Interest income	—			6			(2		)	(2		)	2
Interest expense	(45		)	(24		)	(3		)	2			(70		)
Intercompany interest income (expense)	3			(136		)	133			—			—
Intercompany other income (expense)	(50		)	7			43			—			—
Other income (expense)	(10		)	9			(9		)	8			(2		)
Income (loss) from continuing operations before income taxes	(159		)	(143		)	559			8			265
Income tax expense (benefit)	(14		)	(54		)	68			—			—
Net income (loss) from continuing operations	(145		)	(89		)	491			8			265
Income from discontinued operations, net of tax	—			—			40			—			40
Net income (loss) before equity in earnings of subsidiaries	(145		)	(89		)	531			8			305
Equity in earnings of subsidiaries, net of tax	428			271			182			(881		)	—
Net income	283			182			713			(873		)	305
Less: Net income attributable to noncontrolling interests	—			—			14			—			14
Net income attributable to Aon shareholders	$	283		$	182		$	699		$	(873	)	$	291

Condensed Consolidating Statements of Comprehensive Income

Condensed Consolidating Statement of Comprehensive Income



	Three months ended March 31, 2018
(millions)	Aon plc		Aon Corporation		Other Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated
Net income	$	591	$	581	$	1,438	$	(2,000	)	$	610
Less: Net income attributable to noncontrolling interests	—		—		16		—			16
Net income attributable to Aon shareholders	591		581		1,422		(2,000		)	594
Other comprehensive income (loss), net of tax:
Change in fair value of financial instruments	—		3		11		—			14
Foreign currency translation adjustments	—		—		250		(3		)	247
Postretirement benefit obligation	—		11		37		—			48
Total other comprehensive income	—		14		298		(3		)	309
Equity in other comprehensive income of subsidiaries, net of tax	309		285		299		(893		)	—
Less: Other comprehensive income attributable to noncontrolling interests	—		—		3		—			3
Total other comprehensive income attributable to Aon shareholders	309		299		594		(896		)	306
Comprehensive income attributable to Aon shareholders	$	900	$	880	$	2,016	$	(2,896	)	$	900

Condensed Consolidating Statement of Comprehensive Income



	Three months ended March 31, 2017
(millions)	Aon plc		Aon Corporation			Other Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated
Net income	$	283	$	182		$	713	$	(873	)	$	305
Less: Net income attributable to noncontrolling interests	—		—			14		—			14
Net income attributable to Aon shareholders	283		182			699		(873		)	291
Other comprehensive income (loss), net of tax:
Change in fair value of financial instruments	—		(2		)	—		—			(2		)
Foreign currency translation adjustments	—		—			155		(8		)	147
Postretirement benefit obligation	—		8			10		—			18
Total other comprehensive income	—		6			165		(8		)	163
Equity in other comprehensive income of subsidiaries, net of tax	170		164			170		(504		)	—
Less: Other comprehensive income attributable to noncontrolling interests	—		—			1		—			1
Total other comprehensive income attributable to Aon shareholders	170		170			334		(512		)	162
Comprehensive income attributable to Aon shareholders	$	453	$	352		$	1,033	$	(1,385	)	$	453

Condensed Consolidating Statements of Financial Position

Condensed Consolidating Statement of Financial Position



	As of March 31, 2018
(millions)	Aon plc		Aon Corporation		Other Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	—	$	2,603	$	640	$	(2,646	)	$	597
Short-term investments	—		1		117		—			118
Receivables, net	—		1		3,052		—			3,053
Fiduciary assets	—		—		10,738		—			10,738
Current intercompany receivables	186		2,355		10,953		(13,494		)	—
Other current assets	1		19		589		—			609
Total Current Assets	187		4,979		26,089		(16,140		)	15,115
Goodwill	—		—		8,550		—			8,550
Intangible assets, net	—		—		1,662		—			1,662
Fixed assets, net	—		—		578		—			578
Deferred tax assets	99		391		57		(251		)	296
Non-current intercompany receivables	426		261		8,247		(8,934		)	—
Prepaid pension	—		6		1,201		—			1,207
Other non-current assets	1		32		406		—			439
Investment in subsidiary	10,406		19,124		1,311		(30,841		)	—
TOTAL ASSETS	$	11,119	$	24,793	$	48,101	$	(56,166	)	$	27,847

LIABILITIES AND EQUITY
LIABILITIES
CURRENT LIABILITIES
Accounts payable and accrued liabilities	$	896	$	12	$	3,283	$	(2,646	)	$	1,545
Short-term debt and current portion of long-term debt	374		26		3		—			403
Fiduciary liabilities	—		—		10,738		—			10,738
Current intercompany payables	262		12,098		1,134		(13,494		)	—
Other current liabilities	—		65		907		—			972
Total Current Liabilities	1,532		12,201		16,065		(16,140		)	13,658
Long-term debt	4,282		1,414		1		—			5,697
Deferred tax liabilities	—		—		494		(251		)	243
Pension, other postretirement and other post-employment liabilities	—		1,365		394		—			1,759
Non-current intercompany payables	—		8,412		522		(8,934		)	—
Other non-current liabilities	4		90		1,011		—			1,105
TOTAL LIABILITIES	5,818		23,482		18,487		(25,325		)	22,462

TOTAL AON SHAREHOLDERS’ EQUITY	5,301		1,311		29,530		(30,841		)	5,301
Noncontrolling interests	—		—		84		—			84
TOTAL EQUITY	5,301		1,311		29,614		(30,841		)	5,385
TOTAL LIABILITIES AND EQUITY	$	11,119	$	24,793	$	48,101	$	(56,166	)	$	27,847

Condensed Consolidating Statement of Financial Position



	As of December 31, 2017
(millions)	Aon plc		Aon Corporation		Other Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	1	$	2,524	$	793	$	(2,562	)	$	756
Short-term investments	—		355		174		—			529
Receivables, net	—		2		2,476		—			2,478
Fiduciary assets	—		—		9,625		—			9,625
Current intercompany receivables	165		1,046		10,824		(12,035		)	—
Other current assets	1		29		259		—			289
Total Current Assets	167		3,956		24,151		(14,597		)	13,677
Goodwill	—		—		8,358		—			8,358
Intangible assets, net	—		—		1,733		—			1,733
Fixed assets, net	—		—		564		—			564
Deferred tax assets	99		396		143		(249		)	389
Non-current intercompany receivables	414		261		8,232		(8,907		)	—
Prepaid pension	—		6		1,054		—			1,060
Other non-current assets	1		35		271		—			307
Investment in subsidiary	8,884		17,910		20		(26,814		)	—
TOTAL ASSETS	$	9,565	$	22,564	$	44,526	$	(50,567	)	$	26,088

LIABILITIES AND EQUITY
LIABILITIES
CURRENT LIABILITIES
Accounts payable and accrued liabilities	$	574	$	36	$	3,913	$	(2,562	)	$	1,961
Short-term debt and current portion of long-term debt	—		—		299		—			299
Fiduciary liabilities	—		—		9,625		—			9,625
Current intercompany payables	130		11,149		756		(12,035		)	—
Other current liabilities	16		64		790		—			870
Total Current Liabilities	720		11,249		15,383		(14,597		)	12,755
Long-term debt	4,251		1,415		1		—			5,667
Deferred tax liabilities	—		—		376		(249		)	127
Pension, other postretirement and other post-employment liabilities	—		1,391		398		—			1,789
Non-current intercompany payables	—		8,398		509		(8,907		)	—
Other non-current liabilities	11		91		1,000		—			1,102
TOTAL LIABILITIES	4,982		22,544		17,667		(23,753		)	21,440

TOTAL AON SHAREHOLDERS’ EQUITY	4,583		20		26,794		(26,814		)	4,583
Noncontrolling interests	—		—		65		—			65
TOTAL EQUITY	4,583		20		26,859		(26,814		)	4,648
TOTAL LIABILITIES AND EQUITY	$	9,565	$	22,564	$	44,526	$	(50,567	)	$	26,088

Condensed Consolidating Statements of Cash Flows

Condensed Consolidating Statement of Cash Flows



	Three months ended March 31, 2018
(millions)	Aon plc			Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES
Cash provided by (used for) operating activities - continuing operations	$	(21	)	$	626		$	277		$	(742	)	$	140
Cash provided by operating activities - discontinued operations	—			—			—			—			—
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES	(21		)	626			277			(742		)	140

CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from investments	—			10			7			—			17
Payments for investments	(1		)	(5		)	(6		)	1			(11		)
Net purchases of short-term investments - non-fiduciary	—			355			60			—			415
Acquisition of businesses, net of cash acquired	—			—			(29		)	—			(29		)
Sale of businesses, net of cash sold	—			—			(1		)	—			(1		)
Capital expenditures	—			—			(45		)	—			(45		)
Cash provided by (used for) investing activities - continuing operations	(1		)	360			(14		)	1			346
Cash used for investing activities - discontinued operations	—			—			—			—			—
CASH PROVIDED BY (USED FOR) INVESTING ACTIVITIES	(1		)	360			(14		)	1			346

CASH FLOWS FROM FINANCING ACTIVITIES
Share repurchase	(569		)	—			—			—			(569		)
Advances from (to) affiliates	418			(933		)	(142		)	657			—
Issuance of shares for employee benefit plans	(109		)	—			—			—			(109		)
Issuance of debt	431			375			2			—			808
Repayment of debt	(61		)	(349		)	(294		)	—			(704		)
Cash dividends to shareholders	(89		)	—			—			—			(89		)
Noncontrolling interests and other financing activities	—			—			—			—			—
Cash provided by (used for) financing activities - continuing operations	21			(907		)	(434		)	657			(663		)
Cash used for financing activities - discontinued operations	—			—			—			—			—
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES	21			(907		)	(434		)	657			(663		)

EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			18			—			18
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(1		)	79			(153		)	(84		)	(159		)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	1			2,524			793			(2,562		)	756
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	—		$	2,603		$	640		$	(2,646	)	$	597

Condensed Consolidating Statement of Cash Flows



	Three months ended March 31, 2017
(millions)	Aon plc			Aon Corporation			Other Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES
Cash provided by (used for) operating activities - continuing operations	$	(28	)	$	1,117		$	533		$	(1,440	)	$	182
Cash provided by operating activities - discontinued operations	—			—			58			—			58
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES	(28		)	1,117			591			(1,440		)	240

CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from investments	—			565			4			(544		)	25
Payments for investments	—			(4		)	(546		)	541			(9		)
Net sales of short-term investments - non-fiduciary	—			94			—			—			94
Acquisition of businesses, net of cash acquired	—			—			(46		)	—			(46		)
Sale of businesses, net of cash sold	—			—			(2		)	—			(2		)
Capital expenditures	—			—			(34		)	—			(34		)
Cash provided by (used for) investing activities - continuing operations	—			655			(624		)	(3		)	28
Cash used for investing activities - discontinued operations	—			—			(15		)	—			(15		)
CASH PROVIDED BY (USED FOR) INVESTING ACTIVITIES	—			655			(639		)	(3		)	13

CASH FLOWS FROM FINANCING ACTIVITIES
Share repurchase	(126		)	—			—			—			(126		)
Advances from (to) affiliates	290			(1,990		)	(17		)	1,717			—
Issuance of shares for employee benefit plans	(85		)	—			—			—			(85		)
Issuance of debt	457			535			—			—			992
Repayment of debt	(421		)	(525		)	(4		)	—			(950		)
Cash dividends to shareholders	(87		)	—			—			—			(87		)
Noncontrolling interests and other financing activities	—			—			(2		)	—			(2		)
Cash provided by (used for) financing activities - continuing operations	28			(1,980		)	(23		)	1,717			(258		)
Cash used for financing activities - discontinued operations	—			—			—			—			—
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES	28			(1,980		)	(23		)	1,717			(258		)

EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			25			—			25
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	—			(208		)	(46		)	274			20
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR⁽¹⁾	—			1,633			660			(1,862		)	431
CASH AND CASH EQUIVALENTS AT END OF PERIOD⁽²⁾	$	—		$	1,425		$	614		$	(1,588	)	$	451


(1)	Includes $5 million of discontinued operations at December 31, 2016.


(2)	Includes $18 million of discontinued operations at March 31, 2017.

Accounting Principles and Practices - Schedule of Changes in Accounting Principle (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating income	$ 799	$ 335
Other income (expense)	$ (15)	(2)
As Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating income		343
Other income (expense)		(10)
Accounting Standards Update 2017-07 \| Adjustments
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating income		(8)
Other income (expense)		$ 8

Accounting Principles and Practices (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred tax assets	$ 296	$ 261	$ 389
Deferred tax liabilities	243	169	127
Other non-current assets	$ 439	$ 452	307
Adoption of new accounting guidance			492	$ 49
Accounting Standards Update 2016-16
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred tax assets			23
Deferred tax liabilities			12
Other non-current assets			(26)
Accumulated Other Comprehensive Loss, Net of Tax
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting guidance			(1)
Accumulated Other Comprehensive Loss, Net of Tax \| Accounting Standards Update 2016-01
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting guidance			(1)
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting guidance			493	$ 49
Retained Earnings \| Accounting Standards Update 2016-16
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting guidance			(15)
Retained Earnings \| Accounting Standards Update 2016-01
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting guidance			$ 1

Accounting Principles and Practices - Schedule of Changes to Balance Sheet for Topic 606 (Details) - USD ($) $ in Millions	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
ASSETS
Receivables, net	$ 3,053	$ 2,730	$ 2,478
Other current assets	609	587	289
Deferred tax assets	296	261	389
LIABILITIES
Other non-current assets	439	452	307
Accounts payable and accrued liabilities	1,545	1,969	1,961
Other current liabilities	972	883	870
Deferred tax liabilities	243	169	127
Other non-current liabilities	1,105	1,099	1,102
EQUITY
Total equity	5,385	5,155	4,648	$ 5,826	$ 5,532
Calculated under Revenue Guidance in Effect before Topic 606
ASSETS
Receivables, net			2,478
Other current assets			289
Deferred tax assets			389
LIABILITIES
Other non-current assets			307
Accounts payable and accrued liabilities			1,961
Other current liabilities			870
Deferred tax liabilities			127
Other non-current liabilities			1,102
EQUITY
Total equity			$ 4,648
Accounting Standards Update 2014-09 \| Calculated under Revenue Guidance in Effect before Topic 606
ASSETS
Receivables, net	2,409
Other current assets	370
Deferred tax assets	426
LIABILITIES
Other non-current assets	296
Other current liabilities	920
Deferred tax liabilities	175
Other non-current liabilities	1,108
EQUITY
Total equity	4,606
Accounting Standards Update 2014-09 \| Adjustments
ASSETS
Receivables, net	(644)	252
Other current assets	(239)	298
Deferred tax assets	130	(128)
LIABILITIES
Other non-current assets	(143)	145
Accounts payable and accrued liabilities		8
Other current liabilities	(52)	13
Deferred tax liabilities	(68)	42
Other non-current liabilities	3	(3)
EQUITY
Total equity	$ (779)	$ 507

Accounting Principles and Practices - Schedule of Impact of Topic 606 on Statement of Income (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue
Total revenue	$ 3,090	$ 2,381
Expenses
Compensation and benefits	1,616	1,469
Other income (expense)	(15)	(2)
Income taxes	114	0
Net income from continuing operations	$ 604	$ 265
Basic net income (loss) per share attributable to Aon shareholders, continuing operations (in dollars per share)	$ 2.37	$ 0.95
Calculated under Revenue Guidance in Effect before Topic 606
Revenue
Total revenue	$ 2,677
Expenses
Compensation and benefits	1,551
Other income (expense)	(14)
Income taxes	32
Accounting Standards Update 2014-09 \| Adjustments
Revenue
Total revenue	(413)
Expenses
Compensation and benefits	(65)
Other income (expense)	1
Income taxes	(82)
Net income from continuing operations	$ 265
Basic net income (loss) per share attributable to Aon shareholders, continuing operations (in dollars per share)	$ 1.06

Accounting Principles and Practices - Schedule of Impact of Topic 606 on Cash Flow Statement (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 610	$ 305
Deferred income taxes	26	(2)
Receivables, net	(269)	38
Accounts payable and accrued liabilities	(439)	(390)
Current income taxes	30	(56)
Other assets and liabilities	38	$ 92
Accounting Standards Update 2014-09 \| Adjustments
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	(265)
Deferred income taxes	(28)
Receivables, net	400
Accounts payable and accrued liabilities	8
Current income taxes	(54)
Other assets and liabilities	(61)
Accounting Standards Update 2014-09 \| Calculated under Revenue Guidance in Effect before Topic 606
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	345
Deferred income taxes	(2)
Receivables, net	131
Accounts payable and accrued liabilities	(431)
Current income taxes	(24)
Other assets and liabilities	$ (23)

Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disaggregation of Revenue [Line Items]
Total revenue	$ 3,090	$ 2,381
United States
Disaggregation of Revenue [Line Items]
Total revenue	1,116
Americas other than United States
Disaggregation of Revenue [Line Items]
Total revenue	237
United Kingdom
Disaggregation of Revenue [Line Items]
Total revenue	484
Europe, Middle East, & Africa other than United Kingdom
Disaggregation of Revenue [Line Items]
Total revenue	979
Asia Pacific
Disaggregation of Revenue [Line Items]
Total revenue	274
Operating Segments \| Commercial Risk Solutions
Disaggregation of Revenue [Line Items]
Total revenue	1,184
Operating Segments \| Reinsurance Solutions
Disaggregation of Revenue [Line Items]
Total revenue	742
Operating Segments \| Retirement Solutions
Disaggregation of Revenue [Line Items]
Total revenue	424
Operating Segments \| Health Solutions
Disaggregation of Revenue [Line Items]
Total revenue	451
Operating Segments \| Data & Analytic Services
Disaggregation of Revenue [Line Items]
Total revenue	294
Intersegment Eliminations
Disaggregation of Revenue [Line Items]
Total revenue	$ (5)

Revenue from Contracts with Customers - Contract Assets Rollforward (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018 USD ($)
Capitalized Cost To Fulfill Customer Contracts
Change in Capitalized Contract Costs
Balance at beginning of period	$ 298
Additions	370
Amortization	(432)
Impairment	0
Foreign currency and other	4
Balance at end of period	240
Capitalized Cost To Obtain Customer Contracts
Change in Capitalized Contract Costs
Balance at beginning of period	145
Additions	8
Amortization	(10)
Impairment	0
Foreign currency and other	1
Balance at end of period	$ 144

Discontinued Operations (Details)		3 Months Ended
Discontinued Operations (Details)	May 01, 2017 USD ($) agreement	Mar. 31, 2018 USD ($)	Mar. 31, 2017 USD ($)	Dec. 31, 2017 USD ($)
Dispositions
Cash and cash equivalents from discontinued operations			$ 18,000,000	$ 5,000,000
Tempo Business
Dispositions
Number of commercial agreements \| agreement	2
Tempo Business \| Discontinued Operations, Disposed of by Sale
Dispositions
Purchase price	$ 4,300,000,000
Gain on sale of discontinued operations, net of tax		$ 8,000,000	0
Depreciation and amortization		$ 0
Depreciation of fixed assets			8,000,000
Amortization of intangible assets			11,000,000
Cash and cash equivalents from discontinued operations			$ 18,000,000
Maximum \| Tempo Business \| Discontinued Operations, Disposed of by Sale
Dispositions
Purchase price	4,200,000,000
Deferred consideration	$ 500,000,000

Discontinued Operations Income Statement (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Expenses
Net income from discontinued operations	$ 6	$ 40
Tempo Business \| Discontinued Operations, Disposed of by Sale
Revenue
Total revenue	0	527
Expenses
Total operating expenses	3	470
Income (loss) from discontinued operations before income taxes	(3)	57
Income tax expense (benefit)	(1)	17
Income (loss) from discontinued operations excluding gain, net of tax	(2)	40
Gain on sale of discontinued operations, net of tax	8	0
Net income from discontinued operations	$ 6	$ 40

Cash and Cash Equivalents and Short-term Investments (Details) £ in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2018 USD ($)	Mar. 31, 2018 GBP (£)	Mar. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Cash, Cash Equivalents, and Short-term Investments [Abstract]
Cash and cash equivalents and short-term investments			$ 715.0	$ 1,285.0
Cash and cash equivalents and short term investments, period increase (decrease)	$ (570.0)
Restricted cash			102.0	96.0
Operating funds in U.K.		£ 42.7	$ 60.8	$ 57.1

Other Financial Data - Schedule of Other Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Other (Expense) Income
Foreign currency remeasurement gain (loss)	$ (16)	$ (10)
Loss on disposal of business	(1)	(2)
Pension and other postretirement income	2	8
Equity earnings (losses)	1	6
Gain (loss) on financial instruments	0	(4)
Other	(1)	0
Total	$ (15)	$ (2)

Other Financial Data - Schedule of Allowance for Doubtful Accounts (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Allowance for Doubtful Accounts Receivable [Roll Forward]
Balance at beginning of period	$ 59	$ 56
Provision charged to Other general expenses	8	6
Accounts written off, net of recoveries	(3)	(3)
Foreign currency translation	1	2
Balance at end of period	$ 65	$ 61

Other Financial Data - Schedule of Other Current Assets (Details) - USD ($) $ in Millions	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Other Financial Data [Abstract]
Taxes receivable	$ 118		$ 114
Prepaid expenses	142		126
Receivables from divested business	6		28
Cost to fulfill contracts with customers	240		0
Other	103		21
Total	$ 609	$ 587	$ 289

Other Financial Data - Schedule of Other Non-current Assets (Details) - USD ($) $ in Millions	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Other Financial Data [Abstract]
Investments	$ 58		$ 57
Taxes receivable	83		84
Cost to obtain contracts with customers (1)	144		0
Other	154		166
Total	$ 439	$ 452	$ 307

Other Financial Data - Schedule of Other Current Liabilities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Other Financial Data [Abstract]
Deferred revenue	$ 329		$ 311
Taxes payable	164		139
Other	479		420
Total	972	$ 883	870
Revenue recognized from deferred revenue	100
Current portion of transition tax	$ 42		$ 42

- Definition

The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income.

+ References + Details

Other Financial Data - Schedule of Other Non-current Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Other Financial Data [Abstract]
Taxes payable	$ 538		$ 529
Deferred revenue	56		49
Leases	156		153
Compensation and benefits	62		67
Other	293		304
Total	1,105	$ 1,099	1,102
Noncurrent portion of transition tax	$ 222		$ 222

- Definition

Total carrying amount of consideration received or receivable as of the balance sheet date representing potential earnings that were not as yet recognized as revenue or other forms of income in conformity with GAAP, and which are expected to be recognized as such after one year or beyond the normal operating cycle, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 605
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 13.A.3(b).Q2)
-URI http://asc.fasb.org/extlink&oid=65893310&loc=d3e214044-122780

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 605
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 13.A.3(b))
-URI http://asc.fasb.org/extlink&oid=65893310&loc=d3e214044-122780

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.26)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 605
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 13.A.3)
-URI http://asc.fasb.org/extlink&oid=65893310&loc=d3e214044-122780

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 605
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 13.A.3(b).Q1(c))
-URI http://asc.fasb.org/extlink&oid=65893310&loc=d3e214044-122780

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 605
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 13.A.4(a).Q1)
-URI http://asc.fasb.org/extlink&oid=65893310&loc=d3e214044-122780

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 605
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 13.A.3(c).Q3)
-URI http://asc.fasb.org/extlink&oid=65893310&loc=d3e214044-122780

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 605
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 13.A.Q4)
-URI http://asc.fasb.org/extlink&oid=65893310&loc=d3e214044-122780

+ Details

Acquisitions and Dispositions of Businesses - Acquisitions (Details) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018 USD ($) acquisition	Dec. 31, 2017 USD ($) acquisition
Business Acquisition
Number of business acquired under business combination \| acquisition	3	17
Assets acquired:
Goodwill	$ 8,550	$ 8,358
2018 Acquisitions
Business Combination, Consideration Transferred [Abstract]
Cash	26
Deferred and contingent consideration	3
Aggregate consideration transferred	29
Assets acquired:
Receivables, net	2
Goodwill	12
Intangible assets, net	16
Other assets	3
Total assets acquired	33
Liabilities assumed:
Current liabilities	4
Total liabilities assumed	4
Net assets acquired	$ 29

Acquisitions and Dispositions of Businesses - Dispositions (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018 USD ($) disposal	Mar. 31, 2017 USD ($) disposal
Dispositions
Gain (loss) on disposal of business \| $	$ 1	$ 2
Disposal Group, Not Discontinued Operations
Dispositions
Number of dispositions \| disposal	0	3

Restructuring Narrative (Details) - 2017 Plan $ in Millions	3 Months Ended	15 Months Ended
Restructuring Narrative (Details) - 2017 Plan $ in Millions	Mar. 31, 2018 USD ($) job_elimination	Mar. 31, 2018 USD ($) job_elimination
Restructuring Cost and Reserve [Line Items]
Expected total cost	$ 1,025	$ 1,025
Number of positions eliminated to date \| job_elimination		3,123
Costs incurred	74	$ 571
Workforce reduction
Restructuring Cost and Reserve [Line Items]
Expected total cost	450	450
Costs incurred	33	332
Technology rationalization
Restructuring Cost and Reserve [Line Items]
Expected total cost	130	130
Costs incurred	10	43
Lease consolidation
Restructuring Cost and Reserve [Line Items]
Expected total cost	85	85
Costs incurred	3	11
Asset impairments
Restructuring Cost and Reserve [Line Items]
Expected total cost	50	50
Costs incurred	1	27
Other Restructuring
Restructuring Cost and Reserve [Line Items]
Expected total cost	310	310
Costs incurred	$ 27	$ 158
Minimum
Restructuring Cost and Reserve [Line Items]
Expected number of positions eliminated \| job_elimination	4,200
Maximum
Restructuring Cost and Reserve [Line Items]
Expected number of positions eliminated \| job_elimination	4,800

Restructuring - Schedule of Restructuring and Related Expenses (Details) $ in Millions	3 Months Ended	15 Months Ended
	Mar. 31, 2018 USD ($)	Mar. 31, 2018 USD ($)
Restructuring Cost and Reserve [Line Items]
Estimated Remaining Costs	$ 454	$ 454
2017 Plan
Restructuring Cost and Reserve [Line Items]
Costs incurred	74	571
Expected total cost	1,025	1,025
Workforce reduction \| 2017 Plan
Restructuring Cost and Reserve [Line Items]
Costs incurred	33	332
Estimated Remaining Costs	118	118
Expected total cost	450	450
Technology rationalization \| 2017 Plan
Restructuring Cost and Reserve [Line Items]
Costs incurred	10	43
Estimated Remaining Costs	87	87
Expected total cost	130	130
Contract termination costs incurred	0	2
Expected contract termination cost remaining	15	15
Lease consolidation \| 2017 Plan
Restructuring Cost and Reserve [Line Items]
Costs incurred	3	11
Estimated Remaining Costs	74	74
Expected total cost	85	85
Contract termination costs incurred	2	10
Expected contract termination cost remaining	80	80
Asset impairments \| 2017 Plan
Restructuring Cost and Reserve [Line Items]
Costs incurred	1	27
Estimated Remaining Costs	23	23
Expected total cost	50	50
Other Restructuring \| 2017 Plan
Restructuring Cost and Reserve [Line Items]
Costs incurred	27	158
Estimated Remaining Costs	152	152
Expected total cost	310	310
Contract termination costs incurred	4	7
Expected contract termination cost remaining	$ 80	$ 80

Restructuring - Schedule of Restructuring Reserve (Details) - 2017 Plan $ in Millions	3 Months Ended
	Mar. 31, 2018 USD ($)
Restructuring Plan
Balance as of December 31, 2017	$ 186
Expensed	74
Cash payments	(98)
Foreign currency translation and other	(2)
Balance as of March 31, 2018	$ 160

Goodwill and Other Intangible Assets Rollforward (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018 USD ($)
Changes in the net carrying amount of goodwill by operating segment
Beginning balance	$ 8,358
Goodwill related to current year acquisitions	12
Goodwill related to prior year acquisitions	4
Foreign currency translation and other	176
Ending balance	$ 8,550

Goodwill and Other Intangible Assets (Details 2) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2017	Mar. 31, 2018	Dec. 31, 2017
Intangible assets with finite lives
Gross Carrying Amount		$ 4,093	$ 4,013
Accumulated Amortization and Impairment		2,431	2,280
Net Carrying Amount		1,662	1,733
Estimated amortization for intangible assets
Remainder of 2018		332
2019		430
2020		252
2021		151
2022		101
Thereafter		396
Total		1,662
Customer related and contract based
Intangible assets with finite lives
Gross Carrying Amount		2,615	2,550
Accumulated Amortization and Impairment		1,496	1,415
Net Carrying Amount		1,119	1,135
Tradenames
Intangible assets with finite lives
Gross Carrying Amount		1,052	1,047
Accumulated Amortization and Impairment		589	533
Net Carrying Amount		463	514
Technology and other
Intangible assets with finite lives
Gross Carrying Amount		426	416
Accumulated Amortization and Impairment		346	332
Net Carrying Amount		$ 80	$ 84
Discontinued Operations, Disposed of by Sale \| Tempo Business \| Tradenames
Intangible assets with finite lives
Impairment of tradename	$ 380

Debt Narrative (Details)	Mar. 08, 2018 USD ($)	Mar. 31, 2018 EUR (€) credit_facility	Mar. 31, 2018 USD ($) credit_facility	Mar. 08, 2018 CAD ($)	Mar. 08, 2018 USD ($)	Dec. 31, 2017 USD ($)
Debt Instrument [Line Items]
Short-term debt and current portion of long-term debt			$ 403,000,000			$ 299,000,000
Number of credit facilities \| credit_facility		2	2
4.76% Senior Notes Due March 2018 \| Senior Notes
Debt Instrument [Line Items]
Short-term debt and current portion of long-term debt				$ 375,000,000	$ 291,000,000
Debt interest rate percentage (as a percent)				4.76%	4.76%
Extinguishment of debt	$ 375,000,000
Credit Facility Expiring February 2021
Debt Instrument [Line Items]
Borrowings			$ 0
Foreign Line of Credit \| 2020 Facility \| Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			900,000,000
Credit Facility Expiring October 2022 \| Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			400,000,000
Commercial paper \| Commercial Paper Programs
Debt Instrument [Line Items]
Line of credit facility, current borrowing capacity			1,300,000,000
United States \| Commercial paper \| Commercial Paper Programs
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 900,000,000
Europe \| Commercial paper \| Commercial Paper Programs
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity \| €		€ 300,000,000

Debt Schedule of Commercial Paper (Details) - Commercial paper - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Debt Instrument [Line Items]
Commercial paper outstanding	$ 399		$ 0
Weighted average commercial paper outstanding	$ 125	$ 367
Weighted average interest rate of commercial paper outstanding	(0.50%)	0.12%

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Effective income tax rate	15.90%		0.10%
Income taxes	$ 114		$ 0
Income from continuing operations before income taxes	$ 718		$ 265
Provisional income tax expense		$ 345

Shareholders' Equity (Details) - USD ($)	3 Months Ended		72 Months Ended
Shareholders' Equity (Details) - USD ($)	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Feb. 28, 2017	Nov. 30, 2014	Apr. 30, 2012
Common Stock Programs
Shares purchased (in shares)			112,100,000
Total cost of shares purchased	$ 553,000,000	$ 126,000,000	$ 10,100,000,000
Treasury stock acquired, additional transaction costs	$ 2,800,000	$ 600,000
Weighted average shares outstanding
Shares for basic earnings per share (in shares)	248,500,000	264,800,000
Dilutive effect of potentially issuable shares (in shares)	1,700,000	2,200,000
Shares for diluted earnings per share (in shares)	250,200,000	267,000,000
Number of shares excluded from the calculation of diluted earnings per share (in shares)	100,000	0
Share Repurchase Program of 2014
Common Stock Programs
Share repurchase authorization limit (up to)	$ 15,000,000,000.0		15,000,000,000.0	$ 5,000,000,000.0	$ 5,000,000,000.0
Share repurchase, remaining authorization limit (in shares)	$ 4,900,000,000		$ 4,900,000,000
2012 - Share Repurchase Program
Common Stock Programs
Share repurchase authorization limit (up to)						$ 5,000,000,000.0
Shares purchased (in shares)	3,900,000	1,100,000
Average price per share of stock repurchased (in dollars per share)	$ 140.94	$ 114.46
Total cost of shares purchased	$ 550,000,000	$ 125,000,000

Shareholders' Equity (Details 2) - USD ($) $ in Millions	3 Months Ended
Shareholders' Equity (Details 2) - USD ($) $ in Millions	Mar. 31, 2018	Mar. 31, 2017	Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Stockholders' equity, including portion attributable to noncontrolling interest	$ 5,385	$ 5,826	$ 5,155	$ 4,648	$ 5,532
Adoption of new accounting guidance				492	$ 49
Other comprehensive income before reclassifications, net	277
Amounts reclassified from accumulated other comprehensive loss:
Amounts reclassified from accumulated other comprehensive income	38
Tax expense	(9)
Amounts reclassified from accumulated other comprehensive income, net	29
Total other comprehensive income attributable to Aon shareholders	306	$ 162
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Stockholders' equity, including portion attributable to noncontrolling interest	(3,191)			(3,497)
Change in Fair Value of Financial Instruments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Stockholders' equity, including portion attributable to noncontrolling interest	(12)			(26)
Other comprehensive income before reclassifications, net	11
Amounts reclassified from accumulated other comprehensive loss:
Amounts reclassified from accumulated other comprehensive income	4
Tax expense	(1)
Amounts reclassified from accumulated other comprehensive income, net	3
Total other comprehensive income attributable to Aon shareholders	14
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Stockholders' equity, including portion attributable to noncontrolling interest	(635)			(879)
Other comprehensive income before reclassifications, net	244
Amounts reclassified from accumulated other comprehensive loss:
Amounts reclassified from accumulated other comprehensive income	0
Tax expense	0
Amounts reclassified from accumulated other comprehensive income, net	0
Total other comprehensive income attributable to Aon shareholders	244
Post-Retirement Benefit Obligation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Stockholders' equity, including portion attributable to noncontrolling interest	(2,544)			(2,592)
Other comprehensive income before reclassifications, net	22
Amounts reclassified from accumulated other comprehensive loss:
Amounts reclassified from accumulated other comprehensive income	34
Tax expense	(8)
Amounts reclassified from accumulated other comprehensive income, net	26
Total other comprehensive income attributable to Aon shareholders	$ 48
As Reported \| Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Stockholders' equity, including portion attributable to noncontrolling interest				(3,496)
As Reported \| Change in Fair Value of Financial Instruments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Stockholders' equity, including portion attributable to noncontrolling interest				(25)
As Reported \| Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Stockholders' equity, including portion attributable to noncontrolling interest				(879)
As Reported \| Post-Retirement Benefit Obligation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Stockholders' equity, including portion attributable to noncontrolling interest				(2,592)
Accounting Standards Update 2016-01 \| Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Adoption of new accounting guidance				(1)
Accounting Standards Update 2016-01 \| Change in Fair Value of Financial Instruments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Adoption of new accounting guidance				(1)
Accounting Standards Update 2016-01 \| Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Adoption of new accounting guidance				0
Accounting Standards Update 2016-01 \| Post-Retirement Benefit Obligation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Adoption of new accounting guidance				$ 0

Employee Benefits (Details) £ in Millions, $ in Millions	3 Months Ended
Employee Benefits (Details) £ in Millions, $ in Millions	Mar. 31, 2018 GBP (£)	Mar. 31, 2018 USD ($)	Mar. 31, 2017 USD ($)
U.K.
Defined Benefit Plan Disclosure
Service cost		$ 0	$ 0
Interest cost		29	30
Expected return on plan assets, net of administration expenses		(51)	(48)
Amortization of net actuarial loss		8	7
Net periodic cost (benefit)		(14)	(11)
Loss on pension settlement		7	0
Total net periodic cost (benefit)		(7)	(11)
Estimate of contributions to defined benefit pension plans for the current fiscal year		92
Contributions made to defined benefit pension plans		23	16
U.S.
Defined Benefit Plan Disclosure
Service cost		0	0
Interest cost		25	24
Expected return on plan assets, net of administration expenses		(36)	(35)
Amortization of net actuarial loss		15	13
Net periodic cost (benefit)		4	2
Loss on pension settlement		0	0
Total net periodic cost (benefit)		4	2
Estimate of contributions to defined benefit pension plans for the current fiscal year		63
Contributions made to defined benefit pension plans		17	13
Other International Plan
Defined Benefit Plan Disclosure
Service cost		0	0
Interest cost		7	6
Expected return on plan assets, net of administration expenses		(12)	(11)
Amortization of net actuarial loss		3	3
Net periodic cost (benefit)		(2)	(2)
Loss on pension settlement		0	0
Total net periodic cost (benefit)		(2)	(2)
Estimate of contributions to defined benefit pension plans for the current fiscal year		22
Contributions made to defined benefit pension plans		8	$ 2
Pension Plan \| U.K.
Defined Benefit Plan Disclosure
Payment for settlement	£ 48	68
Benefit obligation period increase (decrease)	(44)	(63)
Benefit obligation, (increase) decrease for settlement	£ 5	$ 7

Share-Based Compensation Plans - Share-based compensation expenses recognized (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 77	$ 78
Restricted share units (“RSUs”)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	58	55
Performance share awards (“PSAs”)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	16	19
Employee share purchase plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 3	$ 4

Share-Based Compensation Plans - Restricted share unit activity (Details) - Restricted share units (“RSUs”) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Non-vested share awards (in shares)
Non-vested at beginning of period (in shares)	4,849	6,195	6,195
Granted (in shares)	505	614
Vested (in shares)	(806)	(960)
Forfeited (in shares)	(63)	(50)
Non-vested at end of period (in shares)	4,485	5,799	4,849
Weighted Average Fair value
Non-vested at beginning of period (in dollars per share)	$ 104	$ 89	$ 89
Granted (in dollars per share)	144	119
Vested (in dollars per share)	101	90
Forfeited (in dollars per share)	105	91
Non-vested at end of period (in dollars per share)	$ 109	$ 92	$ 104
Unamortized deferred compensation expense	$ 352
Remaining weighted-average amortization period (in years)	2 years 6 days
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	5 years

Share-Based Compensation Plans - Performance Share Awards Narrative (Details) - Performance Shares	3 Months Ended
	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting conditions period (in years)	3 years
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued, percent	0.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued, percent	200.00%

Share-Based Compensation Plans - Schedule of Performance-based plans (Details) - Performance Shares - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target PSAs granted during period (in shares)	561	548	750
Weighted average fair value per share at date of grant (in dollars per share)	$ 135	$ 114	$ 100
Number of shares that would be issued based on current performance levels (in shares)	561	942	745
Unamortized expense, based on current performance levels	$ 75	$ 68	$ 19

Derivatives and Hedging - Foreign Exchange Risk Management Narrative (Details)	3 Months Ended
	Mar. 31, 2018
Cash Flow Hedging
Derivative [Line Items]
Foreign currency exposures, maximum average hedging period (less than)	2 years
Not Designated as Hedging Instrument
Derivative [Line Items]
Foreign currency exposures, maximum hedging period (up to)	1 year

Derivatives and Hedging - Notional and fair values of derivative instruments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Derivatives, Fair Value
Notional Amount	$ 1,087	$ 955
Derivative Assets	46	32
Derivative Liabilities	$ 2	6
Term of derivative contract	30 days
Other Current Assets
Derivatives, Fair Value
Derivative Assets	$ 13	9
Other Noncurrent Assets
Derivatives, Fair Value
Derivative Assets	33	23
Other Current Liabilities
Derivatives, Fair Value
Derivative Liabilities	1	3
Other Noncurrent Liabilities
Derivatives, Fair Value
Derivative Liabilities	1	3
Derivatives accounted for as hedges \| Gross foreign exchange contracts
Derivatives, Fair Value
Notional Amount	758	701
Derivative Assets	45	31
Derivative Liabilities	1	3
Not Designated as Hedging Instrument \| Gross foreign exchange contracts
Derivatives, Fair Value
Notional Amount	329	254
Derivative Assets	1	1
Derivative Liabilities	$ 1	$ 3

Derivatives and Hedging - Schedule of amounts of derivative gains (losses) recognized in the Consolidated Financial Statements (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Derivative [Line Items]
Gain (Loss) Currently Recognized in Accumulated Other Comprehensive Loss	$ 14	$ 6
Hedge gain (loss) to be reclassified during next twelve months	(2)
Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)	(4)	10
Compensation and benefits
Derivative [Line Items]
Hedge gain (loss) to be reclassified during next twelve months	0	8
Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)	1	13
Other General Expenses
Derivative [Line Items]
Hedge gain (loss) to be reclassified during next twelve months	4	1
Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)	(1)	(1)
Interest expense
Derivative [Line Items]
Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)	(1)	0
Other Income (Expense)
Derivative [Line Items]
Hedge gain (loss) to be reclassified during next twelve months	10	(3)
Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)	$ (3)	$ (2)

Derivatives and Hedging - Interest Rate Management Risk Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Derivative [Line Items]
Estimated pretax losses currently included within Accumulated Other Comprehensive Loss that will be reclassified to earnings in next twelve months	$ 2
Not Designated as Hedging Instrument \| Gross foreign exchange contracts
Derivative [Line Items]
Derivative gain (loss)	$ 9	$ 1

Derivatives and Hedging - Foreign Hedge (Details) - 3 months ended Mar. 31, 2018 $ in Millions	USD ($)	EUR (€)	USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair value of hedge of net investment of foreign operations		€ 220,000,000	$ 274
Effective portion of gain reclassified from Accumulated OCI into income	$ 3

Fair Value Measurements and Financial Instruments - Schedule of assets and liabilities that are measured at fair value on a recurring basis (Details) - Recurring - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Money market funds and highly liquid debt securities
Assets:
Money market funds and highly liquid debt securities	$ 1,502	$ 1,847
Government bonds
Assets:
Other investments:	1	1
Equity investments
Assets:
Other investments:	3	4
Gross foreign exchange contracts
Assets:
Derivatives	54	33
Liabilities:
Derivatives	8	6
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Money market funds and highly liquid debt securities
Assets:
Money market funds and highly liquid debt securities	1,502	1,847
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Government bonds
Assets:
Other investments:	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Equity investments
Assets:
Other investments:	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Gross foreign exchange contracts
Assets:
Derivatives	0	0
Liabilities:
Derivatives	0	0
Significant Other Observable Inputs (Level 2) \| Money market funds and highly liquid debt securities
Assets:
Money market funds and highly liquid debt securities	0	0
Significant Other Observable Inputs (Level 2) \| Government bonds
Assets:
Other investments:	1	1
Significant Other Observable Inputs (Level 2) \| Equity investments
Assets:
Other investments:	3	4
Significant Other Observable Inputs (Level 2) \| Gross foreign exchange contracts
Assets:
Derivatives	54	33
Liabilities:
Derivatives	8	6
Significant Unobservable Inputs (Level 3) \| Money market funds and highly liquid debt securities
Assets:
Money market funds and highly liquid debt securities	0	0
Significant Unobservable Inputs (Level 3) \| Government bonds
Assets:
Other investments:	0	0
Significant Unobservable Inputs (Level 3) \| Equity investments
Assets:
Other investments:	0	0
Significant Unobservable Inputs (Level 3) \| Gross foreign exchange contracts
Assets:
Derivatives	0	0
Liabilities:
Derivatives	$ 0	$ 0

Fair Value Measurements and Financial Instruments - Schedule of financial instruments where the carrying amounts and fair values differ (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Carrying Value
Fair value of financial instrument
Current portion of long-term debt	$ 0	$ 299
Long-term debt	5,697	5,667
Fair Value \| Fair Value, Inputs, Level 2
Fair value of financial instrument
Current portion of long-term debt	0	301
Long-term debt	$ 6,077	$ 6,267

Commitments and Contingencies Narrative (Details) £ in Millions, $ in Millions							1 Months Ended		3 Months Ended		12 Months Ended
	Mar. 31, 2018 USD ($)	Jan. 26, 2018 USD ($)	Oct. 03, 2017 NZD ($)	Dec. 20, 2016 GBP (£)	Jun. 29, 2015 NZD ($)	Sep. 14, 2010 USD ($)	Aug. 31, 2015 USD ($)	Mar. 31, 2015 USD ($)	Mar. 31, 2018 USD ($)	Mar. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2017 USD ($)	Apr. 30, 2014 GBP (£)
Legal, Guarantees and Indemnifications
Revenue									$ 3,090,000,000	$ 2,381,000,000
Maximum potential funding under commitments	$ 68,000,000								68,000,000			$ 95,000,000
Letters of credit outstanding	117,000,000								117,000,000			$ 96,000,000
Potential Claim for Pension Advisory Services
Legal, Guarantees and Indemnifications
Estimate of possible loss	64,000,000								64,000,000				£ 45
Opry Mills Mall Limited Partnership
Legal, Guarantees and Indemnifications
Damages sought						$ 200,000,000
Amount of coverage for damages contended by the insurers						50,000,000
Difference amount of damages sought by the client						$ 150,000,000
Damages awarded		$ 50,000,000					$ 204,000,000	$ 200,000,000
Pending Litigation \| Trustees Of Gleeds Pension Fund 2016
Legal, Guarantees and Indemnifications
Estimate of possible loss	100,000,000								100,000,000
Damages sought \| £				£ 70
Pending Litigation \| Lyttleton Port Company Limited
Legal, Guarantees and Indemnifications
Damages sought	134,000,000				$ 184
Pending Litigation \| Christchurch City Council
Legal, Guarantees and Indemnifications
Damages sought	385,000,000		$ 528
Minimum
Legal, Guarantees and Indemnifications
Estimate of possible loss	0								0
Maximum
Legal, Guarantees and Indemnifications
Estimate of possible loss	300,000,000								300,000,000
Aviation and Aerospace Broking Industry
Legal, Guarantees and Indemnifications
Revenue											$ 100,000,000
Discontinued Operations, Disposed of by Sale \| Tempo Business \| Property Lease Guarantee
Legal, Guarantees and Indemnifications
Guarantor obligations, current carrying value	22,000,000								22,000,000
Loss contingency accrual payments									0
Maximum potential funding under commitments	96,700,000.0								96,700,000.0
Discontinued Operations, Disposed of by Sale \| Tempo Business \| Performance Guarantee
Legal, Guarantees and Indemnifications
Guarantor obligations, current carrying value	1,000,000								1,000,000
Loss contingency accrual payments									0
Maximum potential funding under commitments	$ 206,000,000								$ 206,000,000

Segment Information (Details)	3 Months Ended
Segment Information (Details)	Mar. 31, 2018 segment metric revenue_line	Mar. 31, 2017 segment
Segment Reporting [Abstract]
Number of reportable segments		1
Number of revenue lines \| revenue_line	5
Number of performance metrics \| metric	4
Number of operating segments	1

Guarantee of Registered Securities (Narrative) (Details)	Mar. 31, 2018
Aon plc
Condensed Financial Statements, Captions [Line Items]
Parent company's percentage ownership of guarantors	100.00%
5.00% Senior notes due September 2020
Condensed Financial Statements, Captions [Line Items]
Debt interest rate percentage (as a percent)	5.00%
8.205% Junior subordinated deferrable interest debentures due January 2027
Condensed Financial Statements, Captions [Line Items]
Debt interest rate percentage (as a percent)	8.205%
6.25% Senior notes due September 2040
Condensed Financial Statements, Captions [Line Items]
Debt interest rate percentage (as a percent)	6.25%
4.250% Senior notes due 2042
Condensed Financial Statements, Captions [Line Items]
Debt interest rate percentage (as a percent)	4.25%
4.45% notes due 2043
Condensed Financial Statements, Captions [Line Items]
Debt interest rate percentage (as a percent)	4.45%
4.00% notes due 2023
Condensed Financial Statements, Captions [Line Items]
Debt interest rate percentage (as a percent)	4.00%
2.875% notes due 2026
Condensed Financial Statements, Captions [Line Items]
Debt interest rate percentage (as a percent)	2.875%
3.50% Notes due June 2024
Condensed Financial Statements, Captions [Line Items]
Debt interest rate percentage (as a percent)	3.50%
4.60% notes due May 2044
Condensed Financial Statements, Captions [Line Items]
Debt interest rate percentage (as a percent)	4.60%
4.75% Notes Due May 2045
Condensed Financial Statements, Captions [Line Items]
Debt interest rate percentage (as a percent)	4.75%
2.80% Senior Notes Due 2021
Condensed Financial Statements, Captions [Line Items]
Debt interest rate percentage (as a percent)	2.80%
3.875% due in December 2025
Condensed Financial Statements, Captions [Line Items]
Debt interest rate percentage (as a percent)	3.875%

Guarantee of Registered Securities - Condensed Consolidating Statement of Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue
Total revenue	$ 3,090	$ 2,381
Expenses
Compensation and benefits	1,616	1,469
Information technology	115	88
Premises	93	84
Depreciation of fixed assets	39	54
Amortization and impairment of intangible assets	110	43
Other general expenses	318	308
Total operating expenses	2,291	2,046
Operating income	799	335
Interest income	4	2
Interest expense	(70)	(70)
Intercompany interest income (expense)	0	0
Intercompany other income (expense)	0	0
Other income (expense)	(15)	(2)
Income from continuing operations before income taxes	718	265
Income tax expense (benefit)	114	0
Net income from continuing operations	604	265
Net income from discontinued operations	6	40
Net income (loss) before equity in earnings of subsidiaries	610	305
Equity in earnings of subsidiaries, net of tax	0	0
Net income	610	305
Less: Net income attributable to noncontrolling interests	16	14
Net income attributable to Aon shareholders	594	291
Aon plc
Revenue
Total revenue	0	0
Expenses
Compensation and benefits	19	52
Information technology	0	0
Premises	0	0
Depreciation of fixed assets	0	0
Amortization and impairment of intangible assets	0	0
Other general expenses	1	5
Total operating expenses	20	57
Operating income	(20)	(57)
Interest income	0	0
Interest expense	(49)	(45)
Intercompany interest income (expense)	4	3
Intercompany other income (expense)	(71)	(50)
Other income (expense)	(7)	(10)
Income from continuing operations before income taxes	(143)	(159)
Income tax expense (benefit)	(16)	(14)
Net income from continuing operations	(127)	(145)
Net income from discontinued operations	0	0
Net income (loss) before equity in earnings of subsidiaries	(127)	(145)
Equity in earnings of subsidiaries, net of tax	718	428
Net income	591	283
Less: Net income attributable to noncontrolling interests	0	0
Net income attributable to Aon shareholders	591	283
Aon Corporation
Revenue
Total revenue	0	0
Expenses
Compensation and benefits	1	3
Information technology	0	0
Premises	0	0
Depreciation of fixed assets	0	0
Amortization and impairment of intangible assets	0	0
Other general expenses	0	2
Total operating expenses	1	5
Operating income	(1)	(5)
Interest income	14	6
Interest expense	(24)	(24)
Intercompany interest income (expense)	(128)	(136)
Intercompany other income (expense)	(5)	7
Other income (expense)	(6)	9
Income from continuing operations before income taxes	(150)	(143)
Income tax expense (benefit)	(27)	(54)
Net income from continuing operations	(123)	(89)
Net income from discontinued operations	0	0
Net income (loss) before equity in earnings of subsidiaries	(123)	(89)
Equity in earnings of subsidiaries, net of tax	704	271
Net income	581	182
Less: Net income attributable to noncontrolling interests	0	0
Net income attributable to Aon shareholders	581	182
Other Non-Guarantor Subsidiaries
Revenue
Total revenue	3,090	2,381
Expenses
Compensation and benefits	1,596	1,414
Information technology	115	88
Premises	93	84
Depreciation of fixed assets	39	54
Amortization and impairment of intangible assets	110	43
Other general expenses	317	301
Total operating expenses	2,270	1,984
Operating income	820	397
Interest income	0	(2)
Interest expense	(7)	(3)
Intercompany interest income (expense)	124	133
Intercompany other income (expense)	76	43
Other income (expense)	(5)	(9)
Income from continuing operations before income taxes	1,008	559
Income tax expense (benefit)	157	68
Net income from continuing operations	851	491
Net income from discontinued operations	6	40
Net income (loss) before equity in earnings of subsidiaries	857	531
Equity in earnings of subsidiaries, net of tax	581	182
Net income	1,438	713
Less: Net income attributable to noncontrolling interests	16	14
Net income attributable to Aon shareholders	1,422	699
Consolidation Adjustments
Revenue
Total revenue	0	0
Expenses
Compensation and benefits	0	0
Information technology	0	0
Premises	0	0
Depreciation of fixed assets	0	0
Amortization and impairment of intangible assets	0	0
Other general expenses	0	0
Total operating expenses	0	0
Operating income	0	0
Interest income	(10)	(2)
Interest expense	10	2
Intercompany interest income (expense)	0	0
Intercompany other income (expense)	0	0
Other income (expense)	3	8
Income from continuing operations before income taxes	3	8
Income tax expense (benefit)	0	0
Net income from continuing operations	3	8
Net income from discontinued operations	0	0
Net income (loss) before equity in earnings of subsidiaries	3	8
Equity in earnings of subsidiaries, net of tax	(2,003)	(881)
Net income	(2,000)	(873)
Less: Net income attributable to noncontrolling interests	0	0
Net income attributable to Aon shareholders	$ (2,000)	$ (873)

Guarantee of Registered Securities - Condensed Consolidating Statement of Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Condensed Financial Statements, Captions [Line Items]
Net income	$ 610	$ 305
Less: Net income attributable to noncontrolling interests	16	14
Net income attributable to Aon shareholders	594	291
Change in fair value of financial instruments	14	(2)
Foreign currency translation adjustments	247	147
Postretirement benefit obligation	48	18
Total other comprehensive (loss) income	309	163
Equity in other comprehensive income of subsidiaries, net of tax	0	0
Less: Other comprehensive loss attributable to noncontrolling interests	3	1
Total other comprehensive income attributable to Aon shareholders	306	162
Comprehensive income (loss) attributable to Aon shareholders	900	453
Aon plc
Condensed Financial Statements, Captions [Line Items]
Net income	591	283
Less: Net income attributable to noncontrolling interests	0	0
Net income attributable to Aon shareholders	591	283
Change in fair value of financial instruments	0	0
Foreign currency translation adjustments	0	0
Postretirement benefit obligation	0	0
Total other comprehensive (loss) income	0	0
Equity in other comprehensive income of subsidiaries, net of tax	309	170
Less: Other comprehensive loss attributable to noncontrolling interests	0	0
Total other comprehensive income attributable to Aon shareholders	309	170
Comprehensive income (loss) attributable to Aon shareholders	900	453
Aon Corporation
Condensed Financial Statements, Captions [Line Items]
Net income	581	182
Less: Net income attributable to noncontrolling interests	0	0
Net income attributable to Aon shareholders	581	182
Change in fair value of financial instruments	3	(2)
Foreign currency translation adjustments	0	0
Postretirement benefit obligation	11	8
Total other comprehensive (loss) income	14	6
Equity in other comprehensive income of subsidiaries, net of tax	285	164
Less: Other comprehensive loss attributable to noncontrolling interests	0	0
Total other comprehensive income attributable to Aon shareholders	299	170
Comprehensive income (loss) attributable to Aon shareholders	880	352
Other Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net income	1,438	713
Less: Net income attributable to noncontrolling interests	16	14
Net income attributable to Aon shareholders	1,422	699
Change in fair value of financial instruments	11	0
Foreign currency translation adjustments	250	155
Postretirement benefit obligation	37	10
Total other comprehensive (loss) income	298	165
Equity in other comprehensive income of subsidiaries, net of tax	299	170
Less: Other comprehensive loss attributable to noncontrolling interests	3	1
Total other comprehensive income attributable to Aon shareholders	594	334
Comprehensive income (loss) attributable to Aon shareholders	2,016	1,033
Consolidation Adjustments
Condensed Financial Statements, Captions [Line Items]
Net income	(2,000)	(873)
Less: Net income attributable to noncontrolling interests	0	0
Net income attributable to Aon shareholders	(2,000)	(873)
Change in fair value of financial instruments	0	0
Foreign currency translation adjustments	(3)	(8)
Postretirement benefit obligation	0	0
Total other comprehensive (loss) income	(3)	(8)
Equity in other comprehensive income of subsidiaries, net of tax	(893)	(504)
Less: Other comprehensive loss attributable to noncontrolling interests	0	0
Total other comprehensive income attributable to Aon shareholders	(896)	(512)
Comprehensive income (loss) attributable to Aon shareholders	$ (2,896)	$ (1,385)

Guarantee of Registered Securities - Condensed Consolidating Statement of Financial Position (Details) - USD ($) $ in Millions	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
CURRENT ASSETS
Cash and cash equivalents	$ 597		$ 756
Short-term investments	118		529
Receivables, net	3,053	$ 2,730	2,478
Fiduciary assets	10,738		9,625
Current intercompany receivables	0		0
Other current assets	609	587	289
Total Current Assets	15,115		13,677
Goodwill	8,550		8,358
Intangible assets, net	1,662		1,733
Fixed assets, net	578		564
Deferred tax assets	296	261	389
Non-current intercompany receivables	0		0
Prepaid pension	1,207		1,060
Other non-current assets	439	452	307
Investment in subsidiary	0		0
TOTAL ASSETS	27,847		26,088
CURRENT LIABILITIES
Accounts payable and accrued liabilities	1,545	1,969	1,961
Short-term debt and current portion of long-term debt	403		299
Fiduciary liabilities	10,738		9,625
Current intercompany payables	0		0
Other current liabilities	972	883	870
Total Current Liabilities	13,658		12,755
Long-term debt	5,697		5,667
Deferred tax liabilities	243	169	127
Pension, other postretirement, and postemployment liabilities	1,759		1,789
Non-current intercompany payables	0		0
Other non-current liabilities	1,105	1,099	1,102
TOTAL LIABILITIES	22,462		21,440
TOTAL AON SHAREHOLDERS’ EQUITY	5,301		4,583
Noncontrolling interests	84		65
TOTAL EQUITY	5,385	$ 5,155	4,648	$ 5,826	$ 5,532
TOTAL LIABILITIES AND EQUITY	27,847		26,088
Aon plc
CURRENT ASSETS
Cash and cash equivalents	0		1
Short-term investments	0		0
Receivables, net	0		0
Fiduciary assets	0		0
Current intercompany receivables	186		165
Other current assets	1		1
Total Current Assets	187		167
Goodwill	0		0
Intangible assets, net	0		0
Fixed assets, net	0		0
Deferred tax assets	99		99
Non-current intercompany receivables	426		414
Prepaid pension	0		0
Other non-current assets	1		1
Investment in subsidiary	10,406		8,884
TOTAL ASSETS	11,119		9,565
CURRENT LIABILITIES
Accounts payable and accrued liabilities	896		574
Short-term debt and current portion of long-term debt	374		0
Fiduciary liabilities	0		0
Current intercompany payables	262		130
Other current liabilities	0		16
Total Current Liabilities	1,532		720
Long-term debt	4,282		4,251
Deferred tax liabilities	0		0
Pension, other postretirement, and postemployment liabilities	0		0
Non-current intercompany payables	0		0
Other non-current liabilities	4		11
TOTAL LIABILITIES	5,818		4,982
TOTAL AON SHAREHOLDERS’ EQUITY	5,301		4,583
Noncontrolling interests	0		0
TOTAL EQUITY	5,301		4,583
TOTAL LIABILITIES AND EQUITY	11,119		9,565
Aon Corporation
CURRENT ASSETS
Cash and cash equivalents	2,603		2,524
Short-term investments	1		355
Receivables, net	1		2
Fiduciary assets	0		0
Current intercompany receivables	2,355		1,046
Other current assets	19		29
Total Current Assets	4,979		3,956
Goodwill	0		0
Intangible assets, net	0		0
Fixed assets, net	0		0
Deferred tax assets	391		396
Non-current intercompany receivables	261		261
Prepaid pension	6		6
Other non-current assets	32		35
Investment in subsidiary	19,124		17,910
TOTAL ASSETS	24,793		22,564
CURRENT LIABILITIES
Accounts payable and accrued liabilities	12		36
Short-term debt and current portion of long-term debt	26		0
Fiduciary liabilities	0		0
Current intercompany payables	12,098		11,149
Other current liabilities	65		64
Total Current Liabilities	12,201		11,249
Long-term debt	1,414		1,415
Deferred tax liabilities	0		0
Pension, other postretirement, and postemployment liabilities	1,365		1,391
Non-current intercompany payables	8,412		8,398
Other non-current liabilities	90		91
TOTAL LIABILITIES	23,482		22,544
TOTAL AON SHAREHOLDERS’ EQUITY	1,311		20
Noncontrolling interests	0		0
TOTAL EQUITY	1,311		20
TOTAL LIABILITIES AND EQUITY	24,793		22,564
Other Non-Guarantor Subsidiaries
CURRENT ASSETS
Cash and cash equivalents	640		793
Short-term investments	117		174
Receivables, net	3,052		2,476
Fiduciary assets	10,738		9,625
Current intercompany receivables	10,953		10,824
Other current assets	589		259
Total Current Assets	26,089		24,151
Goodwill	8,550		8,358
Intangible assets, net	1,662		1,733
Fixed assets, net	578		564
Deferred tax assets	57		143
Non-current intercompany receivables	8,247		8,232
Prepaid pension	1,201		1,054
Other non-current assets	406		271
Investment in subsidiary	1,311		20
TOTAL ASSETS	48,101		44,526
CURRENT LIABILITIES
Accounts payable and accrued liabilities	3,283		3,913
Short-term debt and current portion of long-term debt	3		299
Fiduciary liabilities	10,738		9,625
Current intercompany payables	1,134		756
Other current liabilities	907		790
Total Current Liabilities	16,065		15,383
Long-term debt	1		1
Deferred tax liabilities	494		376
Pension, other postretirement, and postemployment liabilities	394		398
Non-current intercompany payables	522		509
Other non-current liabilities	1,011		1,000
TOTAL LIABILITIES	18,487		17,667
TOTAL AON SHAREHOLDERS’ EQUITY	29,530		26,794
Noncontrolling interests	84		65
TOTAL EQUITY	29,614		26,859
TOTAL LIABILITIES AND EQUITY	48,101		44,526
Consolidation Adjustments
CURRENT ASSETS
Cash and cash equivalents	(2,646)		(2,562)
Short-term investments	0		0
Receivables, net	0		0
Fiduciary assets	0		0
Current intercompany receivables	(13,494)		(12,035)
Other current assets	0		0
Total Current Assets	(16,140)		(14,597)
Goodwill	0		0
Intangible assets, net	0		0
Fixed assets, net	0		0
Deferred tax assets	(251)		(249)
Non-current intercompany receivables	(8,934)		(8,907)
Prepaid pension	0		0
Other non-current assets	0		0
Investment in subsidiary	(30,841)		(26,814)
TOTAL ASSETS	(56,166)		(50,567)
CURRENT LIABILITIES
Accounts payable and accrued liabilities	(2,646)		(2,562)
Short-term debt and current portion of long-term debt	0		0
Fiduciary liabilities	0		0
Current intercompany payables	(13,494)		(12,035)
Other current liabilities	0		0
Total Current Liabilities	(16,140)		(14,597)
Long-term debt	0		0
Deferred tax liabilities	(251)		(249)
Pension, other postretirement, and postemployment liabilities	0		0
Non-current intercompany payables	(8,934)		(8,907)
Other non-current liabilities	0		0
TOTAL LIABILITIES	(25,325)		(23,753)
TOTAL AON SHAREHOLDERS’ EQUITY	(30,841)		(26,814)
Noncontrolling interests	0		0
TOTAL EQUITY	(30,841)		(26,814)
TOTAL LIABILITIES AND EQUITY	$ (56,166)		$ (50,567)

Guarantee of Registered Securities - Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Cash provided by operating activities - continuing operations	$ 140	$ 182
Cash provided by operating activities - discontinued operations	0	58
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES	140	240
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from investments	17	25
Payments for investments	(11)	(9)
Net purchases of short-term investments - non-fiduciary	415	94
Acquisition of businesses, net of cash acquired	(29)	(46)
Sale of businesses, net of cash sold	(1)	(2)
Capital expenditures	(45)	(34)
Cash provided by (used for) investing activities - continuing operations	346	28
Cash used for investing activities - discontinued operations	0	(15)
CASH PROVIDED BY INVESTING ACTIVITIES	346	13
CASH FLOWS FROM FINANCING ACTIVITIES
Share repurchase	(569)	(126)
Advances from (to) affiliates	0	0
Issuance of shares for employee benefit plans	(109)	(85)
Issuance of debt	808	992
Repayment of debt	(704)	(950)
Cash dividends to shareholders	(89)	(87)
Noncontrolling interests and other financing activities	0	(2)
Cash provided by (used for) financing activities - continuing operations	(663)	(258)
Cash used for financing activities - discontinued operations	0	0
CASH USED FOR FINANCING ACTIVITIES	(663)	(258)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	18	25
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(159)	20
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	756	431
CASH AND CASH EQUIVALENTS AT END OF PERIOD	597	451
Cash and cash equivalents from discontinued operations		18	$ 5
Aon plc
CASH FLOWS FROM OPERATING ACTIVITIES
Cash provided by operating activities - continuing operations	(21)	(28)
Cash provided by operating activities - discontinued operations	0	0
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES	(21)	(28)
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from investments	0	0
Payments for investments	(1)	0
Net purchases of short-term investments - non-fiduciary	0	0
Acquisition of businesses, net of cash acquired	0	0
Sale of businesses, net of cash sold	0	0
Capital expenditures	0	0
Cash provided by (used for) investing activities - continuing operations	(1)	0
Cash used for investing activities - discontinued operations	0	0
CASH PROVIDED BY INVESTING ACTIVITIES	(1)	0
CASH FLOWS FROM FINANCING ACTIVITIES
Share repurchase	(569)	(126)
Advances from (to) affiliates	418	290
Issuance of shares for employee benefit plans	(109)	(85)
Issuance of debt	431	457
Repayment of debt	(61)	(421)
Cash dividends to shareholders	(89)	(87)
Noncontrolling interests and other financing activities	0	0
Cash provided by (used for) financing activities - continuing operations	21	28
Cash used for financing activities - discontinued operations	0	0
CASH USED FOR FINANCING ACTIVITIES	21	28
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	0	0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(1)	0
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	1	0
CASH AND CASH EQUIVALENTS AT END OF PERIOD	0	0
Aon Corporation
CASH FLOWS FROM OPERATING ACTIVITIES
Cash provided by operating activities - continuing operations	626	1,117
Cash provided by operating activities - discontinued operations	0	0
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES	626	1,117
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from investments	10	565
Payments for investments	(5)	(4)
Net purchases of short-term investments - non-fiduciary	355	94
Acquisition of businesses, net of cash acquired	0	0
Sale of businesses, net of cash sold	0	0
Capital expenditures	0	0
Cash provided by (used for) investing activities - continuing operations	360	655
Cash used for investing activities - discontinued operations	0	0
CASH PROVIDED BY INVESTING ACTIVITIES	360	655
CASH FLOWS FROM FINANCING ACTIVITIES
Share repurchase	0	0
Advances from (to) affiliates	(933)	(1,990)
Issuance of shares for employee benefit plans	0	0
Issuance of debt	375	535
Repayment of debt	(349)	(525)
Cash dividends to shareholders	0	0
Noncontrolling interests and other financing activities	0	0
Cash provided by (used for) financing activities - continuing operations	(907)	(1,980)
Cash used for financing activities - discontinued operations	0	0
CASH USED FOR FINANCING ACTIVITIES	(907)	(1,980)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	0	0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	79	(208)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	2,524	1,633
CASH AND CASH EQUIVALENTS AT END OF PERIOD	2,603	1,425
Other Non-Guarantor Subsidiaries
CASH FLOWS FROM OPERATING ACTIVITIES
Cash provided by operating activities - continuing operations	277	533
Cash provided by operating activities - discontinued operations	0	58
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES	277	591
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from investments	7	4
Payments for investments	(6)	(546)
Net purchases of short-term investments - non-fiduciary	60	0
Acquisition of businesses, net of cash acquired	(29)	(46)
Sale of businesses, net of cash sold	(1)	(2)
Capital expenditures	(45)	(34)
Cash provided by (used for) investing activities - continuing operations	(14)	(624)
Cash used for investing activities - discontinued operations	0	(15)
CASH PROVIDED BY INVESTING ACTIVITIES	(14)	(639)
CASH FLOWS FROM FINANCING ACTIVITIES
Share repurchase	0	0
Advances from (to) affiliates	(142)	(17)
Issuance of shares for employee benefit plans	0	0
Issuance of debt	2	0
Repayment of debt	(294)	(4)
Cash dividends to shareholders	0	0
Noncontrolling interests and other financing activities	0	(2)
Cash provided by (used for) financing activities - continuing operations	(434)	(23)
Cash used for financing activities - discontinued operations	0	0
CASH USED FOR FINANCING ACTIVITIES	(434)	(23)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	18	25
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(153)	(46)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	793	660
CASH AND CASH EQUIVALENTS AT END OF PERIOD	640	614
Consolidation Adjustments
CASH FLOWS FROM OPERATING ACTIVITIES
Cash provided by operating activities - continuing operations	(742)	(1,440)
Cash provided by operating activities - discontinued operations	0	0
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES	(742)	(1,440)
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from investments	0	(544)
Payments for investments	1	541
Net purchases of short-term investments - non-fiduciary	0	0
Acquisition of businesses, net of cash acquired	0	0
Sale of businesses, net of cash sold	0	0
Capital expenditures	0	0
Cash provided by (used for) investing activities - continuing operations	1	(3)
Cash used for investing activities - discontinued operations	0	0
CASH PROVIDED BY INVESTING ACTIVITIES	1	(3)
CASH FLOWS FROM FINANCING ACTIVITIES
Share repurchase	0	0
Advances from (to) affiliates	657	1,717
Issuance of shares for employee benefit plans	0	0
Issuance of debt	0	0
Repayment of debt	0	0
Cash dividends to shareholders	0	0
Noncontrolling interests and other financing activities	0	0
Cash provided by (used for) financing activities - continuing operations	657	1,717
Cash used for financing activities - discontinued operations	0	0
CASH USED FOR FINANCING ACTIVITIES	657	1,717
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	0	0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(84)	274
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	(2,562)	(1,862)
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ (2,646)	$ (1,588)