Aon plc Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Aon plc has submitted its Q1 2024 10-Q filing, detailing financial positions and various debt instruments.</b>

AI Summary

Aon plc (AON) filed a Quarterly Report (10-Q) with the SEC on April 26, 2024. Aon plc filed its quarterly report (10-Q) on April 26, 2024, for the period ending March 31, 2024. The filing covers the first quarter of 2024, with data from January 1, 2024, to March 31, 2024. The report details financial information related to common stock, retained earnings, accumulated other comprehensive income, and noncontrolling interest. Various senior notes due between 2024 and 2054 are listed, with guarantees from Aon plc and its subsidiaries. The company's fiscal year ends on December 31.

Why It Matters

For investors and stakeholders tracking Aon plc, this filing contains several important signals. This filing provides investors with the latest financial snapshot of Aon plc, crucial for understanding its performance and stability in the current quarter. The detailed listing of senior notes and their maturity dates offers insight into the company's debt structure and its obligations over the coming years.

Risk Assessment

Risk Level: low — Aon plc shows low risk based on this filing. The filing is a standard quarterly report and does not contain immediate red flags, indicating a low level of immediate risk.

Analyst Insight

Monitor future filings for revenue growth and net income trends to assess the company's ongoing financial health.

Key Numbers

• 2024-03-31 — Period End Date (Conformed Period of Report)
• 2024-01-01 — Period Start Date (Reporting period for Q1 2024)
• 2023-12-31 — Previous Year End Date (Balance sheet date for comparison)
• 2023-01-01 — Prior Year Period Start Date (Start date for comparative period in prior year)

Key Players & Entities

• Aon plc (company) — Filer of the 10-Q report
• 0001628280-24-018649 (other) — Accession Number for the filing
• 2024-03-31 (date) — Conformed Period of Report
• 2024-04-26 (date) — Filed As Of Date
• Dublin (location) — City of Aon plc's business and mail address
• 6411 (other) — Standard Industrial Classification for Insurance Agents Brokers & Services

FAQ

Industry Context

Aon plc operates in the insurance agents, brokers, and services industry, providing risk management and human capital solutions.

Regulatory Implications

The filing is a standard 10-Q report under the Securities Exchange Act of 1934, requiring public companies to disclose financial and operational information quarterly.

What Investors Should Do

1. Review the detailed financial statements within the 10-Q for specific revenue and profit figures.
2. Analyze the notes to the financial statements for further details on debt obligations and guarantees.
3. Compare the current quarter's financial data with previous periods to identify trends.

Key Dates

• 2024-03-31: Quarterly Period End — Marks the end of the reporting period for the 10-Q filing.
• 2024-04-26: Filing Date — Date Aon plc submitted its 10-Q to the SEC.

Year-Over-Year Comparison

This filing represents the first quarterly report for Aon plc in 2024, providing updated financial information compared to the previous fiscal year's filings.

Key Financial Figures

• $0.01 — ich registered Class A Ordinary Shares $0.01 nominal value AON New York Stock Exchan

Filing Documents

• aon-20240331.htm (10-Q) — 1429KB
• exhibit102q12024.htm (EX-10.2) — 106KB
• exhibit103q12024.htm (EX-10.3) — 74KB
• a221q12024.htm (EX-22.1) — 14KB
• a311certificationofceoq120.htm (EX-31.1) — 8KB
• a312certificationofcfoq120.htm (EX-31.2) — 8KB
• a321certificationofceoq120.htm (EX-32.1) — 4KB
• a322certificationofcfoq120.htm (EX-32.2) — 4KB
• image_0.jpg (GRAPHIC) — 4KB
• image_1.jpg (GRAPHIC) — 110KB
• image_2.jpg (GRAPHIC) — 10KB
• image_3.jpg (GRAPHIC) — 10KB
• image_4.jpg (GRAPHIC) — 0KB
• image_5.jpg (GRAPHIC) — 4KB
• 0001628280-24-018649.txt (&nbsp;) — 8305KB
• aon-20240331.xsd (EX-101.SCH) — 61KB
• aon-20240331_cal.xml (EX-101.CAL) — 90KB
• aon-20240331_def.xml (EX-101.DEF) — 236KB
• aon-20240331_lab.xml (EX-101.LAB) — 698KB
• aon-20240331_pre.xml (EX-101.PRE) — 469KB
• aon-20240331_htm.xml (XML) — 1149KB

Financial Statements

Item 1. Financial Statements Aon plc Condensed Consolidated Statements of Income Aon plc Condensed Consolidated Statements of Comprehensive Income Aon plc Condensed Consolidated Statements of Financial Position Aon plc Condensed Consolidated Statements of Shareholders' Equity Aon plc Condensed Consolidated Statements of Cash Flows Notes to Condensed Consolidated Financial Statements

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk

Controls and Procedures

Item 4. Controls and Procedures PART II

Legal Proceedings

Item 1. Legal Proceedings

Risk Factors

Item 1A. Risk Factors

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities

Mine Safety Disclosures

Item 4. Mine Safety Disclosures

Other Information

Item 5. Other Information

Exhibits

Item 6. Exhibits Signature Exhibit Index The below definitions apply throughout this report unless the context requires otherwise: Term Definition CODM Chief Operating Decision Maker DCF Discounted Cash Flow E&O Errors and Omissions EBITDA Earnings Before Interest, Taxes, Depreciation, and Amortization EMEA Europe, the Middle East, and Africa ERISA Employee Retirement Income Security Act of 1974 ESG Environmental, Social, and Governance FCA Financial Conduct Authority GAAP Generally Accepted Accounting Principles GHG Greenhouse Gas LOC Letter of Credit M&A Mergers and Acquisitions OECD Organisation for Economic Co-operation and Development ROU Right-of-Use SEC Securities and Exchange Commission U.K. United Kingdom U.S. United States

Financial Information

Part I Financial Information

Financial Statements

Item 1. Financial Statements Aon plc Condensed Consolidated Statements of Income (Unaudited) Three Months Ended March 31, (millions, except per share data) 2024 2023 Revenue Total revenue $ 4,070 $ 3,871 Expenses Compensation and benefits 1,883 1,792 Information technology 124 139 Premises 71 75 Depreciation of fixed assets 44 38 Amortization and impairment of intangible assets 16 25 Other general expense 348 329 Accelerating Aon United Program expenses 119 — Total operating expenses 2,605 2,398 Operating income 1,465 1,473 Interest income 28 5 Interest expense ( 144 ) ( 111 ) Other income (expense) 75 ( 25 ) Income before income taxes 1,424 1,342 Income tax expense 331 263 Net income 1,093 1,079 Less: Net income attributable to noncontrolling interests 22 29 Net income attributable to Aon shareholders $ 1,071 $ 1,050 Basic net income per share attributable to Aon shareholders $ 5.38 $ 5.09 Diluted net income per share attributable to Aon shareholders $ 5.35 $ 5.07 Weighted average ordinary shares outstanding - basic 199.1 206.1 Weighted average ordinary shares outstanding - diluted 200.1 207.1 See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited). 6 Aon plc Condensed Consolidated Statements of Comprehensive Income (Unaudited) Three Months Ended March 31, (millions) 2024 2023 Net income $ 1,093 $ 1,079 Less: Net income attributable to noncontrolling interests 22 29 Net income attributable to Aon shareholders 1,071 1,050 Other comprehensive income, net of tax: Change in fair value of financial instruments 75 3 Foreign currency translation adjustments ( 132 ) 54 Postretirement benefit obligation 26 22 Total other comprehensive income (loss) ( 31 ) 79 Less: Other comprehensive income attributable to noncontrolling interests — — Total other comprehensive income (loss) attributable to Aon shareholders ( 31 ) 79 Comprehensive income attributable to Aon shareholders $ 1,040 $ 1,129 See ac