Aon plc Revenue Disclosure
| Years Ended December 31 | ||||||||||||||||||||
| 2025 | 2024 | 2023 | ||||||||||||||||||
| Commercial Risk Solutions | $ | 8,497 | $ | 7,861 | $ | 7,043 | ||||||||||||||
| Reinsurance Solutions | 2,793 | 2,656 | 2,481 | |||||||||||||||||
Total Risk Capital (1) | 11,290 | 10,517 | 9,524 | |||||||||||||||||
| Health Solutions | 3,839 | 3,335 | 2,433 | |||||||||||||||||
| Wealth Solutions | 2,068 | 1,874 | 1,431 | |||||||||||||||||
Total Human Capital (1) | 5,907 | 5,209 | 3,864 | |||||||||||||||||
| Eliminations | (16) | (28) | (12) | |||||||||||||||||
| Total revenue | $ | 17,181 | $ | 15,698 | $ | 13,376 | ||||||||||||||
Year Ended December 31, 2025 | ||||||||||||||||||||||||||
| Risk Capital | Human Capital | Corporate/Eliminations | Total | |||||||||||||||||||||||
| U.S. | $ | 4,991 | $ | 3,304 | $ | (16) | $ | 8,279 | ||||||||||||||||||
| Americas other than U.S. | 1,131 | 502 | — | 1,633 | ||||||||||||||||||||||
| U.K. | 1,409 | 811 | — | 2,220 | ||||||||||||||||||||||
| Ireland | 95 | 90 | — | 185 | ||||||||||||||||||||||
| Europe, Middle East, & Africa other than U.K. and Ireland | 2,321 | 832 | — | 3,153 | ||||||||||||||||||||||
| Asia Pacific | 1,343 | 368 | — | 1,711 | ||||||||||||||||||||||
| Total revenue | $ | 11,290 | $ | 5,907 | $ | (16) | $ | 17,181 | ||||||||||||||||||
Year Ended December 31, 2024 | ||||||||||||||||||||||||||
| Risk Capital | Human Capital | Corporate/Eliminations | Total | |||||||||||||||||||||||
| U.S. | $ | 4,697 | $ | 2,997 | $ | (28) | $ | 7,666 | ||||||||||||||||||
| Americas other than U.S. | 954 | 381 | — | 1,335 | ||||||||||||||||||||||
| U.K. | 1,266 | 709 | — | 1,975 | ||||||||||||||||||||||
| Ireland | 78 | 68 | — | 146 | ||||||||||||||||||||||
| Europe, Middle East, & Africa other than U.K. and Ireland | 2,176 | 724 | — | 2,900 | ||||||||||||||||||||||
| Asia Pacific | 1,346 | 330 | — | 1,676 | ||||||||||||||||||||||
| Total revenue | $ | 10,517 | $ | 5,209 | $ | (28) | $ | 15,698 | ||||||||||||||||||
Year Ended December 31, 2023 | ||||||||||||||||||||||||||
| Risk Capital | Human Capital | Corporate/Eliminations | Total | |||||||||||||||||||||||
| U.S. | $ | 4,067 | $ | 1,868 | $ | (12) | $ | 5,923 | ||||||||||||||||||
| Americas other than U.S. | 909 | 351 | — | 1,260 | ||||||||||||||||||||||
| U.K. | 1,186 | 633 | — | 1,819 | ||||||||||||||||||||||
| Ireland | 61 | 52 | — | 113 | ||||||||||||||||||||||
| Europe, Middle East, & Africa other than U.K. and Ireland | 2,036 | 636 | — | 2,672 | ||||||||||||||||||||||
| Asia Pacific | 1,265 | 324 | — | 1,589 | ||||||||||||||||||||||
| Total revenue | $ | 9,524 | $ | 3,864 | $ | (12) | $ | 13,376 | ||||||||||||||||||
| 2025 | 2024 | |||||||||||||
| Balance at beginning of period | $ | 424 | $ | 370 | ||||||||||
| Additions | 1,849 | 1,725 | ||||||||||||
| Amortization | (1,839) | (1,659) | ||||||||||||
| Impairment | — | — | ||||||||||||
| Foreign currency translation and other | 16 | (12) | ||||||||||||
| Balance at end of period | $ | 450 | $ | 424 | ||||||||||
| 2025 | 2024 | |||||||||||||
| Balance at beginning of period | $ | 207 | $ | 195 | ||||||||||
| Additions | 63 | 73 | ||||||||||||
| Amortization | (68) | (54) | ||||||||||||
| Impairment | — | — | ||||||||||||
| Foreign currency translation and other | 6 | (7) | ||||||||||||
| Balance at end of period | $ | 208 | $ | 207 | ||||||||||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 13, 2026 | Showing above |
| 2024 | Feb 18, 2025 | |
| 2023 | Feb 16, 2024 | |
| 2022 | Feb 17, 2023 | |
| 2021 | Feb 18, 2022 | |
| 2020 | Feb 19, 2021 | |
| 2019 | Feb 14, 2020 | |
| 2018 | Feb 19, 2019 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.