United states securities and exchange commission

100

Condensed Consolidating Statement of Income

	Year Ended December 31, 2014
(millions)	Aon plc				Aon Corporation				Other Non-Guarantor Subsidiaries				Consolidating Adjustment				Consolidated
Revenue
Commissions, fees and other	$	—			$	—			$	12,019			$	—			$	12,019
Fiduciary investment income	—				—				26				—				26
Total revenue	—				—				12,045				—				12,045
Expenses
Compensation and benefits	140				16				6,858				—				7,014
Other general expenses	3				5				3,057				—				3,065
Total operating expenses	143				21				9,915				—				10,079
Operating (loss) income	(143		)		(21		)		2,130				—				1,966
Interest income	—				2				17				(9		)		10
Interest expense	(84		)		(139		)		(41		)		9				(255		)
Intercompany interest (expense) income	449				(298		)		(151		)		—				—
Intercompany other (expense) income	342				(390		)		48				—				—
Other income	2				5				37				—				44
Income (loss) before taxes	566				(841		)		2,040				—				1,765
Income tax (benefit) expense	74				(192		)		452				—				334
Income (loss) before equity in earnings of subsidiaries	492				(649		)		1,588				—				1,431
Equity in earnings of subsidiaries, net of tax	905				1,195				546				(2,646		)		—
Net income	1,397				546				2,134				(2,646		)		1,431
Less: Net income attributable to noncontrolling interests	—				—				34				—				34
Net income attributable to Aon shareholders	$	1,397			$	546			$	2,100			$	(2,646	)		$	1,397

101

Consolidating_Statement_of_Comprehensive_Income'>Condensed Consolidating Statement of Comprehensive Income

	Year Ended December 31, 2016
(millions)	Aon plc				Aon Corporation				Other Non-Guarantor Subsidiaries				Consolidating Adjustments				Consolidated
Net income	$	1,414			$	379			$	2,635			$	(2,998	)		$	1,430
Less: Net income attributable to noncontrolling interests	—				—				34				—				34
Net income attributable to Aon shareholders	$	1,414			$	379			$	2,601			$	(2,998	)		$	1,396
Other comprehensive (loss) income, net of tax:
Change in fair value of financial instruments	—				(1		)		(11		)		—				(12		)
Foreign currency translation adjustments	(2		)		21				(532		)		18				(495		)
Post-retirement benefit obligation	—				68				(52		)		—				16
Total other comprehensive income (loss)	(2		)		88				(595		)		18				(491		)
Equity in other comprehensive loss of subsidiaries, net of tax	(505		)		(547		)		(459		)		1,511				—
Less: Other comprehensive loss attributable to noncontrolling interests	—				—				(2		)		—				(2		)
Total other comprehensive loss attributable to Aon shareholders	(507		)		(459		)		(1,052		)		1,529				(489		)
Comprehensive income (loss) attributable to Aon shareholders	$	907			$	(80	)		$	1,549			$	(1,469	)		$	907