Accelerating Aon United Program

3 Months Ended

Mar. 31, 2025

Restructuring and Related Activities [Abstract]

In the third quarter of 2023, Aon initiated a three-year restructuring program called the Accelerating Aon United Program (the “Program” or the “AAU Program”) with the purpose of streamlining the Company’s technology infrastructure, optimizing its leadership structure and resource alignment, and reducing its real estate footprint to align to its hybrid working strategy. The Program includes technology-related costs to facilitate streamlining and simplifying operations, headcount reduction costs, and costs associated with asset impairments, including real estate consolidation and technology costs. The Program is an investment in the Company’s 3x3 Plan that brings together the best of the firm through its Aon United strategy, delivered as Risk Capital and Human Capital, and Aon’s Client Leadership model, powered by Aon Business Services.

Program charges are recognized within Accelerating Aon United Program expenses on the accompanying Condensed Consolidated Statements of Income and consist of the following cost activities:

•Technology and other – includes costs associated with actions taken to rationalize applications and to optimize technology across the Company. These costs may include termination fees and other non-capitalizable costs associated with Program initiatives, which include professional service fees.

•Workforce optimization – includes costs associated with headcount reduction and other separation-related costs.

•Asset impairments – includes non-cash costs associated with impairment of assets, as they are identified, including ROU lease assets, leasehold improvements, and other capitalized assets no longer providing economic benefit.

The Program is currently expected to result in cumulative costs of $1.0 billion, consisting of approximately $0.9 billion of cash charges and approximately $0.1 billion of non-cash charges. For the three months ended March 31, 2025, total Program costs incurred were $110 million. Over the life of the program, the Risk Capital segment is expected to incur approximately $200 million of charges, while the Human Capital segment is expected to incur approximately $50 million of charges, with the remaining charges relating to corporate expenses.

Total Program costs incurred for the three months ended March 31, 2025 and 2024 are as follows (in millions):


	Three Months Ended March 31,
	2025		2024
Risk Capital	$	19	$	43
Human Capital	4		11
Corporate	87		65
Total	$	110	$	119

The Company’s unpaid liabilities for charges under the Program are primarily included in Accounts payable and accrued liabilities and Other non-current liabilities in the Condensed Consolidated Statements of Financial Position.

The changes in the Company’s liabilities for the Program as of March 31, 2025 are as follows (in millions):


	Technology and other		Workforce optimization		Asset impairments		Total
Liability balance as of December 31, 2024	$	17	$	97	$	—	$	114
Charges	56		51		3		110
Cash payments	(45)		(52)		—		(97)
Foreign currency translation and other	—		—		—		—
Non-cash charges (1)	(2)		(14)		(3)		(19)
Liability balance as of March 31, 2025	$	26	$	82	$	—	$	108
Total costs incurred from inception to date	$	196	$	351	$	87	$	634

(1)During the three months ended March 31, 2025, the Company recognized $2 million of accelerated ROU asset amortization or impairments due to the Company’s decision to exit certain leased properties as a result of the Program. The amounts are presented in Technology and other, where the corresponding liability is reflected within Other current liabilities and Non-current operating lease liabilities, which will ultimately be settled in cash.