Aon plc
For the period ended Dec 31, 2023. Filed Feb 16, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 16, 2024
AON$336.34+0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Aon plc Consolidated Statements of Cash Flows
Aon plc
Consolidated Statements of Cash Flows
| (millions) | 2023 | 2022 | 2021 |
|---|---|---|---|
| Cash flows from operating activities | |||
| Net income | $2,628 | $2,646 | $1,308 |
| Adjustments to reconcile net income to cash provided by operating activities: | |||
| Gain from sales of businesses | (4) | (54) | (142) |
| Depreciation of fixed assets | 167 | 151 | 179 |
| Amortization and impairment of intangible assets | 89 | 113 | 147 |
| Share-based compensation expense | 438 | 397 | 449 |
| Deferred income taxes | (373) | (252) | 11 |
| Other, net | 28 | 170 | 5 |
| Change in assets and liabilities: | |||
| Receivables, net | (188) | (96) | (119) |
| Accounts payable and accrued liabilities | 13 | (22) | 264 |
| Accelerating Aon United Program liabilities | 99 | — | — |
| Current income taxes | 174 | 216 | 200 |
| Pension, other postretirement and postemployment liabilities | 8 | (53) | (124) |
| Other assets and liabilities | 356 | 3 | 4 |
| Cash provided by operating activities | 3,435 | 3,219 | 2,182 |
| Cash flows from investing activities | |||
| Proceeds from investments | 76 | 110 | 58 |
| Purchases for investments | (67) | (107) | (91) |
| Net sales (purchases) of short-term investments - non fiduciary | 85 | (175) | 15 |
| Acquisition of businesses, net of cash and funds held on behalf of clients | (35) | (162) | (14) |
| Sale of businesses, net of cash and funds held on behalf of clients | 5 | 81 | 218 |
| Capital expenditures | (252) | (196) | (137) |
| Cash provided by (used for) investing activities | (188) | (449) | 49 |
| Cash flows from financing activities | |||
| Share repurchase | (2,700) | (3,203) | (3,543) |
| Proceeds from issuance of shares | 72 | 58 | 55 |
| Cash paid for employee taxes on withholding shares | (241) | (215) | (185) |
| Commercial paper issuances, net of repayments | (27) | (65) | 671 |
| Issuance of debt | 744 | 1,967 | 1,495 |
| Repayment of debt | (350) | (500) | (413) |
| Increase in fiduciary liabilities, net of fiduciary receivables | 358 | 702 | 568 |
| Cash dividends to shareholders | (489) | (463) | (447) |
| Noncontrolling interests and other financing activities | (232) | (71) | (125) |
| Cash used for financing activities | (2,865) | (1,790) | (1,924) |
| Effect of exchange rates on cash and cash equivalents and funds held on behalf of clients | 264 | (549) | (235) |
| Net increase in cash and cash equivalents and funds held on behalf of clients | 646 | 431 | 72 |
| Cash and cash equivalents and funds held on behalf of clients at beginning of year | 7,076 | 6,645 | 6,573 |
| Cash and cash equivalents and funds held on behalf of clients at end of year | $7,722 | $7,076 | $6,645 |
| Reconciliation of cash and cash equivalents and funds held on behalf of clients: | |||
| Cash and cash equivalents | $778 | $690 | $544 |
| Cash and cash equivalents and funds held on behalf of clients classified as held for sale | 43 | — | — |
| Funds held on behalf of clients | 6,901 | 6,386 | 6,101 |
| Total cash and cash equivalents and funds held on behalf of clients | $7,722 | $7,076 | $6,645 |
| Supplemental disclosures: | |||
| Interest paid | $446 | $351 | $328 |
| Income taxes paid, net of refunds | $740 | $546 | $412 |
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