v3.26.3
Segment Information (Tables)
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Schedule of Reportable Operating Segments, Consolidated Revenue and Segment Operating Income
The following tables include information about Aon’s reportable segments, including total segment revenue, total consolidated revenue, segment operating income, and income before income taxes:
Three Months Ended September 30,
Risk CapitalHuman CapitalCorporate/EliminationsTotal Consolidated
20262025202620252026202520262025
Revenue
Total revenue (1)
$2,682$2,525$1,421$1,475$(2)$(3)$4,101$3,997
Expenses
Compensation and benefits1,5261,45572777622282,2752,259
Information technology10394524412156140
Premises54562828118385
Other expenses (2)
39133526829511967778697
Total operating expenses2,0741,9401,0751,143143983,2923,181
Operating income$608$585$346$332$(145)$(101)$809$816
Operating margin22.7%23.2%24.3%22.5%19.7%20.4%
Non-operating income (expense)
Interest income24—
Interest expense(206)(206)
Other income (expense)(15)(13)
Income before income taxes$612$597
Nine Months Ended September 30,
Risk CapitalHuman CapitalCorporate/EliminationsTotal Consolidated
20262025202620252026202520262025
Revenue
Total revenue (1)
$9,190$8,582$4,204$4,311$(13)$(12)$13,381$12,881
Expenses
Compensation and benefits4,6864,4572,2012,34652656,9396,868
Information technology30527214913486462412
Premises163162838733249252
Other expenses (2)
1,1301,0458158923472762,2922,213
Total operating expenses6,2845,9363,2483,4594103509,9429,745
Operating income$2,906$2,646$956$852$(423)$(362)$3,439$3,136
Operating margin31.6%30.8%22.7%19.8%25.7%24.3%
Non-operating income (expense)
Interest income415
Interest expense(564)(624)
Other income (expense)(27)33
Income before income taxes$2,889$2,550
(1)Includes fiduciary investment income for the three and nine months ended September 30, 2026 of $67 million and $176 million, respectively, in Risk Capital and $2 million and $6 million, respectively, in Human Capital. For the three and nine months ended September 30, 2025, includes fiduciary investment income of $72 million and $201 million, respectively, in Risk Capital and $3 million and $7 million, respectively, in Human Capital.
(2)Includes expenses related to Depreciation of fixed assets, Amortization and impairment of intangible assets, Accelerating Aon United Program expenses, and Other general expenses.
The following table presents inter-segment revenue:
Three Months Ended September 30,
Nine Months Ended September 30,
2026
2025
2026
2025
Risk Capital$— $— $5 $5 
Human Capital 2 3 8 7 
Total $2 $3 $13 $12