United states securities and exchange commission

See accompanying Notes to Consolidated Financial Statements.
53


Aon plc

Consolidated Statements of Shareholders’ Equity

(millions)	Shares			Ordinary Shares and Additional Paid-in Capital				Retained Earnings				Accumulated Other Comprehensive Loss, Net of Tax				Noncontrolling Interests				Total
								(As Revised)
Balance at January 1, 2014	300.7			$	4,788			$	5,627			$	(2,374	)		$	50			8,091
Net income	—			—				1,397				—				34				1,431
Shares issued — employee benefit plans	0.4			26				—				—				—				26
Shares issued — employee compensation	4.7			(131		)		—				—				—				(131		)
Shares purchased	(25.8	)		—				(2,250		)		—				—				(2,250		)
Tax benefit — employee benefit plans	—			89				—				—				—				89
Share-based compensation expense	—			328				—				—				—				328
Dividends to shareholders	—			—				(273		)		—				—				(273		)
Net change in fair value of financial instruments	—			—				—				4				—				4
Net foreign currency translation adjustments	—			—				—				(504		)		(3		)		(507		)
Net post-retirement benefit obligation	—			—				—				(260		)		—				(260		)
Net sales of subsidiary shares to noncontrolling interests	—			—				—				—				3				3
Dividends paid to noncontrolling interests on subsidiary common stock	—			—				—				—				(24		)		(24		)
Balance at December 31, 2014	280.0			5,100				4,501				(3,134		)		60				6,527
Net income	—			—				1,385				—				37				1,422
Shares issued — employee benefit plans	0.5			33				—				—				—				33
Shares issued — employee compensation	5.3			(188		)		—				—				—				(188		)
Shares purchased	(16.0	)		—				(1,550		)		—				—				(1,550		)
Tax benefit — employee benefit plans	—			126				—				—				—				126
Share-based compensation expense	—			340				—				—				—				340
Dividends to shareholders	—			—				(323		)		—				—				(323		)
Net change in fair value of financial instruments	—			—				—				(8		)		—				(8		)
Net foreign currency translation adjustments	—			—				—				(436		)		(6		)		(442		)
Net post-retirement benefit obligation	—			—				—				155				—				155
Net purchases of shares from noncontrolling interests	—			1				—				—				(7		)		(6		)
Dividends paid to noncontrolling interests on subsidiary common stock	—			—				—				—				(27		)		(27		)
Balance at December 31, 2015	269.8			5,412				4,013				(3,423		)		57				6,059
Net income	—			—				1,396				—				34				1,430
Shares issued — employee benefit plans	0.7			49				—				—				—				49
Shares issued — employee compensation	3.6			(174		)		—				—				—				(174		)
Shares purchased	(12.1	)		—				(1,257		)		—				—				(1,257		)
Tax benefit — employee benefit plans	—			(4		)		—				—				—				(4		)
Share-based compensation expense	—			331				—				—				—				331
Dividends to shareholders	—			—				(345		)		—				—				(345		)
Net change in fair value of financial instruments	—			—				—				(12		)		—				(12		)
Net foreign currency translation adjustments	—			—				—				(493		)		(2		)		(495		)
Net post-retirement benefit obligation	—			—				—				16				—				16
Net purchases of shares from noncontrolling interests	—			(34		)		—				—				(4		)		(38		)
Dividends paid to noncontrolling interests on subsidiary common stock	—							—				—				(28		)		(28		)
Balance at December 31, 2016	262.0			$	5,580			$	3,807			$	(3,912	)		$	57			$	5,532