2014 Q2 Form 10-Q Financial Statement

#000144530514002885 Filed on July 25, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $2.919B $2.897B
YoY Change 0.76% 2.69%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.474B $2.515B
YoY Change -1.63% 3.63%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $149.0M $158.0M
YoY Change -5.7% -1.86%
% of Gross Profit
Operating Expenses $2.474B $2.515B
YoY Change -1.63% 3.63%
Operating Profit $445.0M $382.0M
YoY Change 16.49% -3.05%
Interest Expense $65.00M $48.00M
YoY Change 35.42% -15.79%
% of Operating Profit 14.61% 12.57%
Other Income/Expense, Net -$2.000M $6.000M
YoY Change -133.33% -50.0%
Pretax Income $380.0M $342.0M
YoY Change 11.11% -2.56%
Income Tax $67.00M $90.00M
% Of Pretax Income 17.63% 26.32%
Net Earnings $313.0M $252.0M
YoY Change 24.21% -0.79%
Net Earnings / Revenue 10.72% 8.7%
Basic Earnings Per Share $1.02 $0.77
Diluted Earnings Per Share $1.01 $0.76
COMMON SHARES
Basic Shares Outstanding 298.5M shares 313.7M shares
Diluted Shares Outstanding 301.6M shares 317.1M shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $726.0M $490.0M
YoY Change 48.16% -33.06%
Cash & Equivalents $418.0M $266.0M
Short-Term Investments $308.0M $307.0M
Other Short-Term Assets $1.396B $406.0M
YoY Change 243.84% -8.35%
Inventory
Prepaid Expenses $237.0M
Receivables $2.803B $2.838B
Other Receivables $213.0M $0.00
Total Short-Term Assets $17.71B $16.39B
YoY Change 8.04% -3.89%
LONG-TERM ASSETS
Property, Plant & Equipment $787.0M $808.0M
YoY Change -2.6% 1.38%
Goodwill $9.099B $8.795B
YoY Change 3.46% 0.94%
Intangibles $3.487B $3.761B
YoY Change -7.29% 21.09%
Long-Term Investments $117.0M $94.00M
YoY Change 24.47% -53.0%
Other Assets $1.573B $1.158B
YoY Change 35.84% 23.85%
Total Long-Term Assets $14.07B $13.67B
YoY Change 2.9% -0.6%
TOTAL ASSETS
Total Short-Term Assets $17.71B $16.39B
Total Long-Term Assets $14.07B $13.67B
Total Assets $31.78B $30.06B
YoY Change 5.7% -2.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.498B $1.423B
YoY Change 5.27% 6.27%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $799.0M $427.0M
YoY Change 87.12% 8.93%
Total Short-Term Liabilities $16.04B $15.20B
YoY Change 5.56% -0.03%
LONG-TERM LIABILITIES
Long-Term Debt $5.155B $4.012B
YoY Change 28.49% -2.1%
Other Long-Term Liabilities $1.289B $1.340B
YoY Change -3.81% 0.6%
Total Long-Term Liabilities $6.444B $5.352B
YoY Change 20.4% -1.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.04B $15.20B
Total Long-Term Liabilities $6.444B $5.352B
Total Liabilities $24.02B $22.44B
YoY Change 7.01% -0.68%
SHAREHOLDERS EQUITY
Retained Earnings $4.982B $5.805B
YoY Change -14.18% -7.89%
Common Stock $4.936B $4.563B
YoY Change 8.17% 6.56%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.700B $7.559B
YoY Change
Total Liabilities & Shareholders Equity $31.78B $30.06B
YoY Change 5.7% -2.42%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $313.0M $252.0M
YoY Change 24.21% -0.79%
Depreciation, Depletion And Amortization $149.0M $158.0M
YoY Change -5.7% -1.86%
Cash From Operating Activities $344.0M $333.0M
YoY Change 3.3% 17.25%
INVESTING ACTIVITIES
Capital Expenditures -$60.00M -$62.00M
YoY Change -3.23% 6.9%
Acquisitions
YoY Change
Other Investing Activities -$42.00M $26.00M
YoY Change -261.54% -136.62%
Cash From Investing Activities -$102.0M -$36.00M
YoY Change 183.33% -72.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -189.0M -392.0M
YoY Change -51.79% 96.0%
NET CHANGE
Cash From Operating Activities 344.0M 333.0M
Cash From Investing Activities -102.0M -36.00M
Cash From Financing Activities -189.0M -392.0M
Net Change In Cash 53.00M -95.00M
YoY Change -155.79% 111.11%
FREE CASH FLOW
Cash From Operating Activities $344.0M $333.0M
Capital Expenditures -$60.00M -$62.00M
Free Cash Flow $404.0M $395.0M
YoY Change 2.28% 15.5%

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us-gaap Goodwill Purchase Accounting Adjustments
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us-gaap Goodwill Translation Adjustments
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us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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524000000 USD
CY2013Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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252000000 USD
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us-gaap Income Loss From Equity Method Investments
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us-gaap Income Loss From Equity Method Investments
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6000000 USD
CY2014Q2 us-gaap Income Loss From Equity Method Investments
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CY2014Q2 us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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CY2013Q2 us-gaap Income Tax Expense Benefit
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90000000 USD
us-gaap Income Tax Expense Benefit
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145000000 USD
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us-gaap Income Taxes Paid Net
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108000000 USD
CY2014Q2 us-gaap Income Taxes Receivable Noncurrent
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Accrued Income Taxes Payable
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us-gaap Increase Decrease In Accrued Income Taxes Payable
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us-gaap Increase Decrease In Client Funds Held
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212000000 USD
us-gaap Increase Decrease In Client Funds Held
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175000000 USD
us-gaap Increase Decrease In Due To Affiliates
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0 USD
us-gaap Increase Decrease In Due To Affiliates
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us-gaap Increase Decrease In Other Operating Capital Net
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us-gaap Increase Decrease In Other Operating Capital Net
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us-gaap Increase Decrease In Pension And Postretirement Obligations
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us-gaap Increase Decrease In Pension And Postretirement Obligations
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us-gaap Increase Decrease In Receivables
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us-gaap Increase Decrease In Receivables
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CY2013Q2 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
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us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
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4100000 shares
us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
3200000 shares
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CY2014Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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3400000 shares
CY2013Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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3400000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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3600000 shares
CY2013Q4 us-gaap Indefinite Lived Trademarks
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CY2014Q2 us-gaap Indefinite Lived Trademarks
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1019000000 USD
CY2014Q2 us-gaap Intangible Assets Net Excluding Goodwill
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48000000 USD
us-gaap Interest Expense
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us-gaap Interest Paid
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us-gaap Investment Income Interest
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CY2013Q2 us-gaap Investment Income Interest
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us-gaap Investment Income Interest
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CY2014Q2 us-gaap Investment Income Interest
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us-gaap Investment Income Interest And Dividend
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us-gaap Investment Income Interest And Dividend
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3000000 USD
CY2014Q2 us-gaap Investment Income Interest And Dividend
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2000000 USD
CY2013Q2 us-gaap Investment Income Interest And Dividend
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us-gaap Labor And Related Expense
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CY2014Q2 us-gaap Labor And Related Expense
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CY2014Q2 us-gaap Letters Of Credit Outstanding Amount
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98000000 USD
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700000000 USD
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CY2013Q4 us-gaap Minority Interest
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10000000 USD
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us-gaap Operating Income Loss
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us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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CY2014Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Noncontrolling Interest
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us-gaap Other Nonoperating Expense
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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115000000 USD
us-gaap Payments To Minority Shareholders
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us-gaap Payments To Minority Shareholders
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us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
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us-gaap Proceeds From Issuance Of Long Term Debt
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us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
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us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Provision For Doubtful Accounts
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us-gaap Provision For Doubtful Accounts
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CY2014Q2 us-gaap Revenues
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us-gaap Revenues
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us-gaap Revenues
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CY2013Q2 us-gaap Revenues
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CY2014Q2 us-gaap Short Term Investments
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us-gaap Stock Issued During Period Value Share Based Compensation
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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151000000 USD
CY2014Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
149000000 USD
aon Fair Value Investments Fund Net Assets Fair Value
FairValueInvestmentsFundNetAssetsFairValue
1
CY2014Q2 aon Fiduciary Assets
FiduciaryAssets
12786000000 USD
CY2013Q4 aon Fiduciary Assets
FiduciaryAssets
11871000000 USD
CY2013Q4 aon Fiduciary Assets Interest Bearing
FiduciaryAssetsInterestBearing
3778000000 USD
CY2014Q2 aon Fiduciary Assets Interest Bearing
FiduciaryAssetsInterestBearing
4032000000 USD
CY2014Q2 us-gaap Stockholders Equity
StockholdersEquity
7700000000 USD
CY2014Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7759000000 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
8195000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1250000000 USD
CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
317100000 shares
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
301600000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
318600000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
304400000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
301000000 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
298500000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
315000000 shares
CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
313700000 shares
CY2014Q2 aon Cashand Cash Equivalentsand Short Term Investments
CashandCashEquivalentsandShortTermInvestments
726000000 USD
CY2013Q4 aon Cashand Cash Equivalentsand Short Term Investments
CashandCashEquivalentsandShortTermInvestments
1000000000 USD
CY2014Q2 aon Closing Stock Price
ClosingStockPrice
90.09
CY2013Q2 aon Commissions Fees And Other
CommissionsFeesAndOther
2891000000 USD
aon Commissions Fees And Other
CommissionsFeesAndOther
5854000000 USD
CY2014Q2 aon Commissions Fees And Other
CommissionsFeesAndOther
2913000000 USD
aon Commissions Fees And Other
CommissionsFeesAndOther
5799000000 USD
CY2013Q4 aon Employeerelated Liabilities Noncurrent
EmployeerelatedLiabilitiesNoncurrent
105000000 USD
CY2014Q2 aon Employeerelated Liabilities Noncurrent
EmployeerelatedLiabilitiesNoncurrent
60000000 USD
aon Equity Earnings From Subsidiaries
EquityEarningsFromSubsidiaries
0 USD
CY2014Q2 aon Equity Earnings From Subsidiaries
EquityEarningsFromSubsidiaries
0 USD
aon Equity Earnings From Subsidiaries
EquityEarningsFromSubsidiaries
0 USD
CY2013Q2 aon Equity Earnings From Subsidiaries
EquityEarningsFromSubsidiaries
0 USD
aon Equity Other Comprehensive Income Loss From Subsidiaries
EquityOtherComprehensiveIncomeLossFromSubsidiaries
0 USD
CY2013Q2 aon Equity Other Comprehensive Income Loss From Subsidiaries
EquityOtherComprehensiveIncomeLossFromSubsidiaries
0 USD
CY2014Q2 aon Equity Other Comprehensive Income Loss From Subsidiaries
EquityOtherComprehensiveIncomeLossFromSubsidiaries
0 USD
aon Equity Other Comprehensive Income Loss From Subsidiaries
EquityOtherComprehensiveIncomeLossFromSubsidiaries
0 USD
aon Fiduciary Investment Income
FiduciaryInvestmentIncome
13000000 USD
CY2013Q2 aon Fiduciary Investment Income
FiduciaryInvestmentIncome
6000000 USD
CY2014Q2 aon Fiduciary Investment Income
FiduciaryInvestmentIncome
6000000 USD
aon Fiduciary Investment Income
FiduciaryInvestmentIncome
12000000 USD
CY2013Q4 aon Fiduciary Liabilities
FiduciaryLiabilities
11871000000 USD
CY2014Q2 aon Fiduciary Liabilities
FiduciaryLiabilities
12786000000 USD
aon Gainon Saleof Businessand Investments Net
GainonSaleofBusinessandInvestmentsNet
0 USD
aon Gainon Saleof Businessand Investments Net
GainonSaleofBusinessandInvestmentsNet
8000000 USD
CY2014Q2 aon Hedge Gain Loss To Be Reclassified During Next12 Months
HedgeGainLossToBeReclassifiedDuringNext12Months
-7000000 USD
aon Income Loss From Continuing Operations Before Income Taxes
IncomeLossFromContinuingOperationsBeforeIncomeTaxes
794000000 USD
aon Income Loss From Continuing Operations Before Income Taxes
IncomeLossFromContinuingOperationsBeforeIncomeTaxes
710000000 USD
aon Intercompany Interest Expense Income
IntercompanyInterestExpenseIncome
0 USD
aon Increase Decrease In Fiduciary Liabilities
IncreaseDecreaseInFiduciaryLiabilities
866000000 USD
aon Increase Decrease In Fiduciary Receivables
IncreaseDecreaseInFiduciaryReceivables
654000000 USD
aon Increase Decrease In Fiduciary Receivables
IncreaseDecreaseInFiduciaryReceivables
563000000 USD
aon Short Term Investments Maturity Maximum Period
ShortTermInvestmentsMaturityMaximumPeriod
P1Y
CY2014Q2 aon Income Loss From Continuing Operations Before Income Taxes
IncomeLossFromContinuingOperationsBeforeIncomeTaxes
380000000 USD
CY2013Q2 aon Income Loss From Continuing Operations Before Income Taxes
IncomeLossFromContinuingOperationsBeforeIncomeTaxes
342000000 USD
aon Increase Decrease In Fiduciary Liabilities
IncreaseDecreaseInFiduciaryLiabilities
738000000 USD
CY2013Q4 aon Restricted Cash Operating Funds
RestrictedCashOperatingFunds
126000000 USD
CY2013Q4 aon Restricted Cash Operating Funds
RestrictedCashOperatingFunds
77000000 GBP
CY2014Q2 aon Restricted Cash Operating Funds
RestrictedCashOperatingFunds
69000000 USD
CY2014Q2 aon Number Of Dispositions
NumberOfDispositions
0 business
aon Other General Expenses
OtherGeneralExpenses
1493000000 USD
CY2014Q2 aon Other General Expenses
OtherGeneralExpenses
766000000 USD
CY2013Q2 aon Other General Expenses
OtherGeneralExpenses
803000000 USD
CY2014Q2 aon Intercompany Interest Expense Income
IntercompanyInterestExpenseIncome
0 USD
aon Intercompany Interest Expense Income
IntercompanyInterestExpenseIncome
0 USD
CY2013Q2 aon Intercompany Interest Expense Income
IntercompanyInterestExpenseIncome
0 USD
CY2014Q2 aon Investments And Cash And Cash Equivalents
InvestmentsAndCashAndCashEquivalents
4896000000 USD
CY2013Q4 aon Investments And Cash And Cash Equivalents
InvestmentsAndCashAndCashEquivalents
4910000000 USD
CY2013Q4 aon Investments In Subsidiaries
InvestmentsInSubsidiaries
0 USD
CY2014Q2 aon Investments In Subsidiaries
InvestmentsInSubsidiaries
0 USD
aon Other General Expenses
OtherGeneralExpenses
1583000000 USD
CY2014Q2 aon Other Tax Assets Current
OtherTaxAssetsCurrent
213000000 USD
CY2013Q4 aon Other Tax Assets Current
OtherTaxAssetsCurrent
111000000 USD
CY2013Q4 aon Other Tax Assets Noncurrent
OtherTaxAssetsNoncurrent
193000000 USD
CY2014Q2 aon Other Tax Assets Noncurrent
OtherTaxAssetsNoncurrent
188000000 USD
aon Payments For Proceeds From Marketable Securities
PaymentsForProceedsFromMarketableSecurities
-29000000 USD
aon Payments For Proceeds From Marketable Securities
PaymentsForProceedsFromMarketableSecurities
-217000000 USD
aon Reclassification From Accumulated Other Comprehensive Income Current Period Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodTax
22000000 USD
CY2014Q2 aon Restricted Cash Operating Funds
RestrictedCashOperatingFunds
40500000 GBP
CY2013Q4 invest Derivative Notional Amount
DerivativeNotionalAmount
1577000000 USD
CY2014Q2 invest Derivative Notional Amount
DerivativeNotionalAmount
1534000000 USD
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000315293
CY2014Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
290452659 shares
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
Aon plc
aon Short Term Investments Maturity Minimum Period
ShortTermInvestmentsMaturityMinimumPeriod
P3M
aon Stock Issued During Period Value Employee Compensation Net Of Forfeitures
StockIssuedDuringPeriodValueEmployeeCompensationNetOfForfeitures
-108000000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-06-30

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