United states securities and exchange commission

99

Condensed Consolidating Statement of Income

	Year Ended December 31, 2015
(millions)	Aon plc				Aon Corporation				Other Non-Guarantor Subsidiaries				Consolidating Adjustments				Consolidated
Revenue
Commissions, fees and other	$	—			$	—			$	11,661			$	—			$	11,661
Fiduciary investment income	—				—				21				—				21
Total revenue	—				—				11,682				—				11,682
Expenses
Compensation and benefits	136				32				6,669				—				6,837
Other general expenses	8				7				2,982				—				2,997
Total operating expenses	144				39				9,651				—				9,834
Operating (loss) income	(144		)		(39		)		2,031				—				1,848
Interest income	—				14				19				(19		)		14
Interest expense	(140		)		(130		)		(22		)		19				(273		)
Intercompany interest income (expense)	429				(479		)		50				—				—
Intercompany other income (expense)	302				(422		)		120				—				—
Other income (expense)	(1		)		—				101				—				100
Income (loss) before taxes	446				(1,056		)		2,299				—				1,689
Income tax expense (benefit)	45				(262		)		484				—				267
Income (loss) before equity in earnings of subsidiaries	401				(794		)		1,815				—				1,422
Equity in earnings of subsidiaries, net of tax	984				1,290				496				(2,770		)		—
Net income	1,385				496				2,311				(2,770		)		1,422
Less: Net income attributable to noncontrolling interests	—				—				37				—				37
Net income attributable to Aon shareholders	$	1,385			$	496			$	2,274			$	(2,770	)		$	1,385