Aon plc Q3 2024 10-Q Filing

TL;DR

Aon's Q3 2024 10-Q is in, showing financial details and debt guarantees.

AI Summary

Aon plc filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and operations for the third quarter of 2024. Key financial instruments and guarantees related to various senior notes due between 2025 and 2029 are also listed, indicating ongoing debt management and financial obligations.

Why It Matters

This filing provides insight into Aon's financial health and operational status for the third quarter of 2024, which can influence investor decisions and market perception.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Players & Entities

• Aon plc (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• 20241025 (date) — Filing date
• 3.875% Senior Notes Due 2025 (dollar_amount) — Guaranteed debt instrument
• 2.875% Senior Notes Due 2026 (dollar_amount) — Guaranteed debt instrument

FAQ

Key Financial Figures

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

Filing Documents

• aon-20240930.htm (10-Q) — 1996KB
• a221q32024.htm (EX-22.1) — 14KB
• a311certificationofceoq320.htm (EX-31.1) — 8KB
• a312certificationofcfoq320.htm (EX-31.2) — 8KB
• a321certificationofceoq320.htm (EX-32.1) — 4KB
• a322certificationofcfoq320.htm (EX-32.2) — 4KB
• 0001628280-24-043809.txt ( ) — 9909KB
• aon-20240930.xsd (EX-101.SCH) — 66KB
• aon-20240930_cal.xml (EX-101.CAL) — 113KB
• aon-20240930_def.xml (EX-101.DEF) — 282KB
• aon-20240930_lab.xml (EX-101.LAB) — 706KB
• aon-20240930_pre.xml (EX-101.PRE) — 484KB
• aon-20240930_htm.xml (XML) — 1665KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

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

- OTHER INFORMATION

PART II - OTHER INFORMATION

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 5 The below definitions apply throughout this report unless the context requires otherwise: Term Definition ASC Accounting Standards Codification 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 ESG Environmental, Social, and Governance E.U. European Union FASB Financial Accounting Standards Board FCA Financial Conduct Authority GAAP Generally Accepted Accounting Principles GHG Greenhouse Gas LOC Letter of Credit OECD Organisation for Economic Co-operation and Development P&C Property and Casualty ROU Right-of-Use SEC Securities and Exchange Commission U.K. United Kingdom U.S. United States VIE Variable Interest Entity 6

Financial Information

Part I Financial Information

Financial Statements

Item 1. Financial Statements Aon plc Condensed Consolidated Statements of Income (Unaudited) Three Months Ended September 30, Nine Months Ended September 30, (millions, except per share data) 2024 2023 2024 2023 Revenue Total revenue $ 3,721 $ 2,953 $ 11,551 $ 10,001 Expenses Compensation and benefits 2,150 1,685 6,163 5,231 Information technology 141 135 397 403 Premises 88 74 241 217 Depreciation of fixed assets 47 42 136 119 Amortization and impairment of intangible assets 174 20 318 70 Other general expense 429 300 1,232 949 Accelerating Aon United Program expenses 69 6 320 6 Total operating expenses 3,098 2,262 8,807 6,995 Operating income 623 691 2,744 3,006 Interest income 4 9 63 19 Interest expense ( 213 ) ( 119 ) ( 582 ) ( 360 ) Other income (expense) 35 ( 21 ) 346 ( 105 ) Income before income taxes 449 560 2,571 2,560 Income tax expense 94 93 585 439 Net income 355 467 1,986 2,121 Less: Net income attributable to redeemable and non-redeemable noncontrolling interests 12 11 48 55 Net income attributable to Aon shareholders $ 343 $ 456 $ 1,938 $ 2,066 Basic net income per share attributable to Aon shareholders $ 1.58 $ 2.25 $ 9.24 $ 10.10 Diluted net income per share attributable to Aon shareholders $ 1.57 $ 2.23 $ 9.20 $ 10.03 Weighted average ordinary shares outstanding - basic 217.4 202.9 209.7 204.6 Weighted average ordinary shares outstanding - diluted 218.4 204.6 210.6 206.0 See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited). 7 Aon plc Condensed Consolidated Statements of Comprehensive Income (Unaudited) Three Months Ended September 30, Nine Months Ended September 30, (millions) 2024 2023 2024 2023 Net income $ 355 $ 467 $ 1,986 $ 2,121 Less: Net income attributable to redeemable and non-redeemable noncontrolling interests 12 11 48 55 Net income attributable to Aon shareholders 343 456 1,938 2,066 Other comprehensive income, net of tax: Change in fair value of financial in