Total Revenue (USD, millions)

Compensation and benefits (USD, millions)

Information technology (USD, millions)

Premises (USD, millions)

Depreciation of fixed assets (USD, millions)

Amortization and impairment of intangible assets (USD, millions)

Other general expense (USD, millions)

Accelerating Aon United Program expenses (USD, millions)

Total operating expenses (USD, millions)

Operating income (USD, millions)

Interest income (USD, millions)

Interest expense (USD, millions)

Other income (expense) (USD, millions)

Income before income taxes (USD, millions)

Income tax expense (USD, millions)

Net income (USD, millions)

Net income attributable to redeemable and non-redeemable noncontrolling interests (USD, millions)

Net income attributable to Aon shareholders (USD, millions)

Basic net income per share attributable to Aon shareholders (USD)

Diluted net income per share attributable to Aon shareholders (USD)

Weighted average ordinary shares outstanding - basic (millions)

Weighted average ordinary shares outstanding - diluted (millions)

c1d0f97518357acc1199092a191d21d82d584a514c2c964c0b3a61b36a5d657a

05ebed6e556f2306aced60cbecb600096f0ab0042c59b86e39622da577a256eb

The spike in **Short-term Investments** in Q1 2024 was primarily driven by **net proceeds from debt offerings**. These proceeds were intended for **general corporate purposes**, including the **funding of the acquisition of NFP**.  **[0001628280-24-018649_aon-20240331.htm:13]** **[0001628280-24-018649_aon-20240331.htm:39]** 

What drove the spike in Short-term Investments in Q1 2024?

Aon's **Total Assets** surged in Q2 2024 primarily because of its **acquisition of NFP**. This acquisition resulted in substantial increases in **Goodwill** (from **$8,414 million to $15,281 million**) and **Intangible Assets, net** (from **$234 million to $6,794 million**).  **[0001628280-24-033048_ex991prq22024.htm:14]** **[0001628280-24-033048_ex991prq22024.htm:0]** **[0001628280-24-033161_aon-20240630.htm:37]**  Additionally, there was a rise in **Fiduciary Assets** (from **$16,307 million to $18,865 million**) and **Net Receivables** (from **$3,254 million to $4,459 million**), which further bolstered the company’s overall asset growth.  **[0001628280-24-033048_ex991prq22024.htm:14]** **[0001628280-24-033161_aon-20240630.htm:7]** 

Why did Total Assets surge in Q2 2024?

Aon's **Short-term Debt** dropped to **$0 million** in **Q3 2024** primarily because it repaid **$597 million** of commercial paper by September 30, 2024 and did not incur any new borrowings under its primary committed credit facilities.  **[0001628280-24-043809_aon-20240930.htm:24]** 

What caused Short-term Debt to drop to zero in Q3 2024?

The **sharp increase** in long-term debt in Q1 2024 was primarily due to the **issuance of Senior Notes**, totaling **$6 billion** on March 1, 2024, which included multiple tranches with varying maturities and interest rates. Additionally, the financing was aimed at funding a portion of the **$13 billion acquisition of NFP**, repaying certain NFP debt, and covering related fees and expenses. Furthermore, a **$2 billion delayed draw term loan** agreement, drawn later to support the NFP acquisition, reflects Aon’s broader financing strategy during this period.  **[0001628280-24-018649_aon-20240331.htm:40]** 

Why did Long-term Debt increase sharply in Q1 2024?

The massive jump in **Intangible Assets, net** in Q2 2024 was primarily driven by the **acquisition of NFP**. This acquisition added substantial intangible assets to Aon’s balance sheet, including **customer relationships**, **trademarks**, and other intangible assets linked to NFP's operations.  **[20240726CG69416:12]** **[20240726CG69416:3]** **[0001628280-24-033048_ex991prq22024.htm:0]** 

What led to the massive jump in Intangible Assets in Q2 2024?

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acdbcdd8f461942db5fb5993d40774053eaa432fbacc6e9169b9c96e89b1cd8a

Total Revenue [USD, Millions]

Cost of Goods Sold (COGS) [USD, Millions]

SG&A [USD, Millions]

R&D [USD, Millions]

D&A [USD, Millions]

Interest Expense [USD, Millions]

Operating Income (EBIT) [USD, Millions]

Net Income [USD, Millions]

EPS - Basic [USD, Per Share]

EPS - Diluted [USD, Per Share]

c1f1742fbc6b27e53d69baa7dd513c5e6737951c7208c5f2ab71194941a11212

Adjustments for Non-Cash Items

Stock-Based Compensation [USD, Millions]

Changes in Working Capital

Capital Expenditures (CapEx) [USD, Millions]

Proceeds from / Repayments of Debt

Share Repurchases [USD, Millions]

Dividend Payments [USD, Millions]

Net Change in Cash [USD, Millions]

d158e1f160c66f63e2ce567743c2c824508817c06a2a3f2f74a43195377e6e26

3c553e4c85f8753353afac69a1e105f06e8f50c29a7b9b45b3fceed947b800e9

Organic revenue growth for Commercial Risk Solutions (percentage)

Organic revenue growth for Reinsurance Solutions (percentage)

Organic revenue growth for Health Solutions (percentage)

Organic revenue growth for Wealth Solutions (percentage)

Total organic revenue growth (percentage)

Annualized expense savings from the Accelerating Aon United Program (USD millions)

Expense savings realized from the Accelerating Aon United Program (USD millions)

Aon (AON)

Financials