Document and Entity Information - USD ($) |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Feb. 24, 2017 |
Jun. 30, 2016 |
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Document and Entity Information [Abstract] | |||
Entity Registrant Name | Willis Towers Watson Plc. | ||
Entity Central Index Key | 0001140536 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2016 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Common Stock, Shares Outstanding | 135,527,821 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 17,200,762,240 |
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- Definition If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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- Definition End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Definition The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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- Definition A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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- Definition Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K. No definition available.
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- Definition The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
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- Definition Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
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- Definition Document and Entity Information [Abstract] No definition available.
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- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Costs incurred to effect a business combination which have been expensed during the period. Such costs could include business integration costs, systems integration and conversion costs, and severance and other employee-related costs. No definition available.
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- Definition Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate amount of expenditures for salaries, wages, profit sharing and incentive compensation, and other employee benefits, including equity-based compensation, and pension and other postretirement benefit expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount, after sales adjustments, returns, allowances, and discounts, of revenue classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Aggregate revenue during the period from services rendered in the normal course of business, after deducting allowances and discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Income (Loss) from Continuing Operations, Net of Tax, Before Equity Method Investments, Noncontrolling Interest No definition available.
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Consolidated Statements of Comprehensive Income/(Loss) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
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Statement of Comprehensive Income [Abstract] | |||
NET INCOME | $ 438 | $ 384 | $ 373 |
Other comprehensive (loss)/income, net of tax: | |||
Foreign currency translation | (353) | (133) | (183) |
Defined pension and post-retirement benefits | (439) | 180 | (179) |
Derivative instruments | (75) | (28) | (17) |
Other comprehensive (loss)/income, net of tax, before noncontrolling interests | (867) | 19 | (379) |
Comprehensive (loss)/income before noncontrolling interests | (429) | 403 | (6) |
Comprehensive loss/(income) attributable to noncontrolling interests | 2 | (1) | (5) |
Comprehensive (loss)/income attributable to Willis Towers Watson | $ (427) | $ 402 | $ (11) |
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after tax and reclassification adjustments, of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- References No definition available.
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- Definition Amount after tax and reclassification adjustments, of (increase) decrease in accumulated other comprehensive (income) loss related to pension and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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Consolidated Balance Sheets - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
---|---|---|
ASSETS | ||
Cash and cash equivalents | $ 870 | $ 532 |
Fiduciary assets | 10,505 | 10,458 |
Accounts receivable, net | 2,080 | 1,258 |
Prepaid and other current assets | 337 | 255 |
Total current assets | 13,792 | 12,503 |
Fixed assets, net | 839 | 563 |
Goodwill | 10,413 | 3,737 |
Other intangible assets, net | 4,368 | 1,115 |
Pension benefits assets | 488 | 623 |
Other non-current assets | 353 | 298 |
Total non-current assets | 16,461 | 6,336 |
TOTAL ASSETS | 30,253 | 18,839 |
LIABILITIES AND EQUITY | ||
Fiduciary liabilities | 10,505 | 10,458 |
Deferred revenue and accrued expenses | 1,481 | 752 |
Short-term debt and current portion of long-term debt | 508 | 988 |
Other current liabilities | 876 | 603 |
Total current liabilities | 13,370 | 12,801 |
Long-term debt | 3,357 | 2,278 |
Liability for pension benefits | 1,321 | 279 |
Deferred tax liabilities | 864 | 240 |
Provision for liabilities | 575 | 295 |
Other non-current liabilities | 532 | 533 |
Total non-current liabilities | 6,649 | 3,625 |
TOTAL LIABILITIES | 20,019 | 16,426 |
COMMITMENTS AND CONTINGENCIES | ||
REDEEMABLE NONCONTROLLING INTEREST | 51 | 53 |
EQUITY | ||
Preference shares, $0.000115 nominal value; Authorized: 1,000,000,000; Issued nil shares in 2016 and 2015 | 0 | 0 |
Additional paid-in capital | 10,596 | 1,672 |
Retained earnings | 1,452 | 1,597 |
Accumulated other comprehensive loss, net of tax | (1,884) | (1,037) |
Treasury shares, at cost, 795,816 in 2016 and 17,519 in 2015; 40,000 shares, €1 nominal value, in 2016 and 2015 | (99) | (3) |
Total Willis Towers Watson shareholders’ equity | 10,065 | 2,229 |
Noncontrolling interests | 118 | 131 |
Total equity | 10,183 | 2,360 |
TOTAL LIABILITIES AND EQUITY | 30,253 | 18,839 |
Ordinary shares, $0.000304635 nominal value; Authorized: 1,510,003,775; Issued: 137,075,068 and 68,624,892; Outstanding: 136,296,771 and 68,624,892 | ||
EQUITY | ||
Ordinary shares | 0 | 0 |
Ordinary shares, €1 nominal value; Authorized: 40,000; Issued 40,000 shares in 2016 and 2015 | ||
EQUITY | ||
Ordinary shares | $ 0 | $ 0 |
X | ||||||||||
- Definition Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of short-term debt and current maturity of long-term debt and capital lease obligations due within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, with jurisdictional netting and classified as noncurrent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount for overfunded plans recognized in the balance sheet as a noncurrent asset associated with a defined benefit pension plan or other postretirement defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of obligation due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount after unamortized (discount) premium and debt issuance costs of long-term debt classified as noncurrent and excluding amounts to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of noncurrent assets classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of liabilities classified as other, due within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of liabilities classified as other, due after one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition This represents the noncurrent liability for underfunded plans recognized in the balance sheet that is associated with the defined benefit pension plans and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition As of the reporting date, the aggregate carrying amount of all noncontrolling interests which are redeemable by the (parent) entity (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the (parent) entity. This item includes noncontrolling interest holder's ownership (or holders' ownership) regardless of the type of equity interest (common, preferred, other) including all potential organizational (legal) forms of the investee entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Deferred Revenue and Accrued Liabilities, Current No definition available.
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- Definition Fiduciary Assets, Current No definition available.
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- Definition Fiduciary Liabilities, Current No definition available.
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- Definition Provision For Liabilities No definition available.
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- Details
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- Details
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Consolidated Balance Sheets (Parenthetical) |
Dec. 31, 2016
$ / shares
shares
|
Dec. 31, 2016
€ / shares
shares
|
Dec. 31, 2015
$ / shares
shares
|
Dec. 31, 2015
€ / shares
shares
|
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Preference shares, nominal value (usd per share) | $ / shares | $ 0.000115 | $ 0.000115 | ||
Preference shares, shares authorized | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 |
Preference shares, shares issued | 0 | 0 | 0 | 0 |
Ordinary shares, $0.000304635 nominal value; Authorized: 1,510,003,775; Issued: 137,075,068 and 68,624,892; Outstanding: 136,296,771 and 68,624,892 | ||||
Ordinary shares, nominal value (usd and Euro per share) | $ / shares | $ 0.000304635 | $ 0.000304635 | ||
Ordinary shares, shares authorized | 1,510,003,775 | 1,510,003,775 | 1,510,003,775 | 1,510,003,775 |
Ordinary shares, shares issued | 137,075,068 | 137,075,068 | 68,624,892 | 68,624,892 |
Common shares outstanding | 136,296,771 | 136,296,771 | 68,624,892 | 68,624,892 |
Treasury shares | 795,816 | 795,816 | 17,519 | 17,519 |
Ordinary shares, €1 nominal value; Authorized: 40,000; Issued 40,000 shares in 2016 and 2015 | ||||
Ordinary shares, nominal value (usd and Euro per share) | € / shares | € 1 | € 1 | ||
Ordinary shares, shares authorized | 40,000 | 40,000 | 40,000 | 40,000 |
Ordinary shares, shares issued | 40,000 | 40,000 | 40,000 | 40,000 |
Treasury stock, nominal value (in Eur per share) | € / shares | 1 | 1 | ||
Treasury shares | 40,000 | 40,000 | 40,000 | 40,000 |
X | ||||||||||
- Definition Face amount or stated value per share of common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Treasury Stock Par Or Stated Value No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Consolidated Statements of Cash Flows - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
CASH FLOWS FROM OPERATING ACTIVITIES | |||
NET INCOME | $ 438 | $ 384 | $ 373 |
Adjustments to reconcile net income to total net cash from operating activities: | |||
Depreciation | 178 | 95 | 92 |
Amortization | 591 | 76 | 54 |
Net periodic benefit of defined benefit pension plans | (93) | (78) | (17) |
Provision for doubtful receivables from clients | 36 | 5 | 4 |
(Benefit from)/provision for deferred income taxes | (244) | (99) | 66 |
Share-based compensation | 123 | 64 | 52 |
Non-cash foreign exchange (gain)/loss | (28) | 73 | 39 |
Net gain on disposal of operations and fixed and intangible assets and gain on remeasurement of equity interests | 0 | (90) | (17) |
Other, net | 27 | (8) | (16) |
Changes in operating assets and liabilities, net of effects from purchase of subsidiaries: | |||
Accounts receivable | (101) | (155) | (66) |
Fiduciary assets | (249) | (508) | (887) |
Fiduciary liabilities | 249 | 508 | 887 |
Other assets | (233) | (5) | 16 |
Other liabilities | 161 | (62) | (91) |
Movement on provisions | 65 | 43 | (12) |
Net cash from operating activities | 920 | 243 | 477 |
CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES | |||
Additions to fixed assets and software for internal use | (218) | (146) | (113) |
Capitalized software costs | (85) | 0 | 0 |
Acquisitions of operations, net of cash acquired | 476 | (857) | (245) |
Net (cash paid)/proceeds from sale of operations | (1) | 44 | 86 |
Other, net | 23 | 16 | (4) |
Net cash from/(used in) investing activities | 195 | (943) | (276) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Net (payments)/borrowings on revolving credit facility | (237) | 469 | 0 |
Senior notes issued | 1,606 | 0 | 0 |
Proceeds from issuance of other debt | 404 | 592 | 0 |
Debt issuance costs | (14) | (5) | (3) |
Repayments of debt | (1,901) | (166) | (15) |
Repurchase of shares | (396) | (82) | (213) |
Proceeds from issuance of shares and excess tax benefit | 63 | 131 | 139 |
Payments of deferred and contingent consideration related to acquisitions | (67) | 0 | 0 |
Dividends paid | (199) | (277) | (210) |
Acquisitions of and dividends paid to noncontrolling interests | (21) | (21) | (21) |
Net cash provided by (used in) financing activities | (762) | 641 | (323) |
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | 353 | (59) | (122) |
Effect of exchange rate changes on cash and cash equivalents | (15) | (44) | (39) |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 532 | 635 | 796 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ 870 | $ 532 | $ 635 |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of increase (decrease) from the effect of exchange rate changes on cash and cash equivalent balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of gain (loss) on sale or disposal of assets, including but not limited to property plant and equipment, intangible assets and equity in securities of subsidiaries or equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of increase (decrease) in operating assets classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of increase (decrease) in operating liabilities classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of income (expense) included in net income that results in no cash inflow (outflow), classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of cash (inflow) outflow from investing activities classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of cash outflow in the form of ordinary dividends to common shareholders of the parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash inflow associated with the amount received from the sale of a business segment or subsidiary or sale of an entity that is related to it but not strictly controlled during the period (for example, an unconsolidated subsidiary, affiliate, joint venture or equity method investment). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of cash inflow from issuance of long-term debt classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash inflow from a borrowing with the highest claim on the assets of the entity in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of cash inflow (outflow) from (to) a noncontrolling interest. Excludes dividends paid to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The net cash inflow or cash outflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with either short term or long term maturity that is collateralized (backed by pledge, mortgage or other lien in the entity's assets). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of expense related to write-down of receivables to the amount expected to be collected. Includes, but is not limited to, accounts receivable and notes receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Increase (Decrease) in Fiduciary Assets No definition available.
|
X | ||||||||||
- Definition Increase (Decrease) in Fiduciary Liabilities No definition available.
|
X | ||||||||||
- Definition Increase (Decrease) in Litigation Liability No definition available.
|
X | ||||||||||
- Definition The financing cash outflow related to payments for deferred or contingent consideration related to the acquisition of a business No definition available.
|
X | ||||||||||
- Definition Payments To Capitalize Software No definition available.
|
X | ||||||||||
- Definition Amount of noncash expense (reversal of expense) for pension and other postretirement benefits. No definition available.
|
Consolidated Statements of Changes in Equity - USD ($) shares in Millions, $ in Millions |
Total |
Shares outstanding |
Ordinary shares and APIC |
[2] | Retained Earnings |
Treasury Shares |
AOCL |
[3] | Total WTW shareholders’ equity |
Noncontrolling Interests |
Total Equity |
|||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity, beginning balance (in shares) at Dec. 31, 2013 | [1] | 67,520 | ||||||||||||||||||
Equity, beginning balance at Dec. 31, 2013 | $ 2,243 | $ 1,316 | $ 1,595 | $ (3) | $ (693) | $ 2,215 | $ 28 | |||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||||
Shares repurchased (in shares) | [1] | (1,906) | ||||||||||||||||||
Shares repurchased | (213) | (213) | (213) | |||||||||||||||||
Net income | 373 | 362 | 362 | 11 | ||||||||||||||||
Dividends | (231) | (214) | (214) | (17) | ||||||||||||||||
Issue of shares under employee stock compensation plans and related tax benefits (in shares) | [1] | 1,832 | ||||||||||||||||||
Issue of shares under employee stock compensation plans and related tax benefits of $12 | 146 | 146 | 146 | |||||||||||||||||
Issue of shares for acquisitions (in shares) | [1] | 14 | ||||||||||||||||||
Issue of shares for acquisitions | 1 | 1 | 1 | |||||||||||||||||
Share-based compensation | 52 | 52 | 52 | |||||||||||||||||
Additional noncontrolling interests | 2 | 2 | ||||||||||||||||||
Foreign currency translation | 9 | 9 | 9 | |||||||||||||||||
Equity, ending balance (in shares) at Dec. 31, 2014 | [1] | 67,460 | ||||||||||||||||||
Equity, ending balance at Dec. 31, 2014 | 2,007 | 1,524 | 1,530 | (3) | (1,066) | 1,985 | 22 | |||||||||||||
Beginning balance at Dec. 31, 2013 | [4] | 0 | ||||||||||||||||||
Increase (Decrease) in Temporary Equity [Roll Forward] | ||||||||||||||||||||
Other comprehensive (loss)/income | [4] | (4) | ||||||||||||||||||
Other comprehensive (loss)/income | (379) | (373) | (373) | (2) | $ (375) | |||||||||||||||
Additional noncontrolling interests | [4] | 63 | ||||||||||||||||||
Ending balance at Dec. 31, 2014 | [4] | 59 | ||||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||||
Shares repurchased (in shares) | [1] | (646) | ||||||||||||||||||
Shares repurchased | (82) | (82) | (82) | |||||||||||||||||
Net income | 384 | 373 | 373 | 8 | 381 | |||||||||||||||
Dividends | (235) | (224) | (224) | (11) | ||||||||||||||||
Issue of shares under employee stock compensation plans and related tax benefits (in shares) | [1] | 1,811 | ||||||||||||||||||
Issue of shares under employee stock compensation plans and related tax benefits of $12 | 128 | 128 | 128 | |||||||||||||||||
Share-based compensation | 64 | 64 | 64 | |||||||||||||||||
Additional noncontrolling interests | 65 | (53) | (53) | 118 | ||||||||||||||||
Foreign currency translation | 9 | 9 | 9 | |||||||||||||||||
Equity, ending balance (in shares) at Dec. 31, 2015 | [1] | 68,625 | ||||||||||||||||||
Equity, ending balance at Dec. 31, 2015 | 2,360 | 1,672 | 1,597 | (3) | (1,037) | 2,229 | 131 | |||||||||||||
Increase (Decrease) in Temporary Equity [Roll Forward] | ||||||||||||||||||||
Net income | [4] | 3 | ||||||||||||||||||
Dividends | [4] | (5) | ||||||||||||||||||
Other comprehensive (loss)/income | [4] | (4) | ||||||||||||||||||
Other comprehensive (loss)/income | 19 | 29 | 29 | (6) | 23 | |||||||||||||||
Ending balance at Dec. 31, 2015 | [4] | 53 | ||||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||||
Shares repurchased (in shares) | [1] | (3,170) | ||||||||||||||||||
Shares repurchased | (396) | (300) | (96) | (396) | ||||||||||||||||
Net income | 438 | 420 | 420 | 11 | 431 | |||||||||||||||
Dividends | (274) | (265) | (265) | (9) | ||||||||||||||||
Issue of shares under employee stock compensation plans and related tax benefits (in shares) | [1] | 1,342 | ||||||||||||||||||
Issue of shares under employee stock compensation plans and related tax benefits of $12 | 66 | 66 | 66 | |||||||||||||||||
Issue of shares for acquisitions (in shares) | [1] | 69,500 | ||||||||||||||||||
Issue of shares for acquisitions | 8,686 | 8,686 | 8,686 | |||||||||||||||||
Replacement share-based compensation awards issued on acquisition | 37 | 37 | 37 | |||||||||||||||||
Share-based compensation | 123 | 123 | 123 | |||||||||||||||||
Additional noncontrolling interests | 8 | 7 | 7 | 1 | ||||||||||||||||
Foreign currency translation | 5 | 5 | 5 | |||||||||||||||||
Equity, ending balance (in shares) at Dec. 31, 2016 | [1] | 136,297 | ||||||||||||||||||
Equity, ending balance at Dec. 31, 2016 | 10,183 | $ 10,596 | $ 1,452 | $ (99) | (1,884) | 10,065 | 118 | |||||||||||||
Increase (Decrease) in Temporary Equity [Roll Forward] | ||||||||||||||||||||
Net income | [4] | 7 | ||||||||||||||||||
Dividends | [4] | (5) | ||||||||||||||||||
Other comprehensive (loss)/income | [4] | (4) | ||||||||||||||||||
Other comprehensive (loss)/income | (867) | $ (847) | $ (847) | $ (16) | $ (863) | |||||||||||||||
Ending balance at Dec. 31, 2016 | [4] | $ 51 | ||||||||||||||||||
|
X | ||||||||||
- Definition This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation". Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of paid and unpaid common stock dividends declared with the form of settlement in cash, stock and payment-in-kind (PIK). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition Amount after income tax of income (loss) including the portion attributable to nonredeemable noncontrolling interest. Excludes the portion attributable to redeemable noncontrolling interest recognized as temporary equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of increase in noncontrolling interest from a business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of shares issued which are neither cancelled nor held in the treasury. No definition available.
|
X | ||||||||||
- Definition Number of shares of stock issued during the period pursuant to acquisitions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of shares (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of any shares forfeited. Shares issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Value of stock issued pursuant to acquisitions during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Value of stock (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of stock value of such awards forfeited. Stock issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Value of accretion of temporary equity during the period due to unpaid dividends. No definition available.
|
X | ||||||||||
- Definition Carrying amount, attributable to parent and noncontrolling interests, of an entity's issued and outstanding stock which is not included within permanent equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. Includes stock with a put option held by an ESOP and stock redeemable by a holder only in the event of a change in control of the issuer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The portion of net income or loss attributable to temporary equity interest. No definition available.
|
X | ||||||||||
- Definition Value of new stock classified as temporary equity issued during the period. No definition available.
|
X | ||||||||||
- Definition Adjustments To Additional Paid In Capital, Share-Based Compensation, Acquisition, Award Replacement, Value No definition available.
|
X | ||||||||||
- Definition Adjustments to Additional Paid in Capital, Foreign Currency Translation Gain (Loss) No definition available.
|
X | ||||||||||
- Definition Temporary Equity, Other Comprehensive Income (Loss), Net of Tax No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Consolidated Statements of Changes in Equity (Parenthetical) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Statement of Stockholders' Equity [Abstract] | |||
Tax benefit | $ 3 | $ 4 | $ 12 |
X | ||||||||||
- Definition Amount of increase in additional paid in capital (APIC) resulting from a tax benefit associated with share-based compensation plan other than an employee stock ownership plan (ESOP). Includes, but is not limited to, excess tax benefit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
Nature of Operations |
12 Months Ended |
---|---|
Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Operations | Nature of Operations Willis Towers Watson is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. Willis Towers Watson has more than 41,000 employees and services clients in more than 140 countries and territories. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas - the dynamic formula that drives business performance. We offer clients a broad range of services to help them to identify and control their risks, and to enhance business performance by improving their ability to attract, retain and engage a talented workforce. Our risk control services range from strategic risk consulting (including providing actuarial analysis), to a variety of due diligence services, to the provision of practical on-site risk control services (such as health and safety or property loss control consulting), as well as analytical and advisory services (such as hazard modeling and reinsurance optimization studies). We assist clients in planning how to manage incidents or crises when they occur. These services include contingency planning, security audits and product tampering plans. We help our clients enhance their business performance by delivering consulting services, technology and solutions that help organizations anticipate, identify and capitalize on emerging opportunities in human capital management as well as investment advice to help our clients develop disciplined and efficient strategies to meet their investment goals. As an insurance broker, we act as an intermediary between our clients and insurance carriers by advising our clients on their risk management requirements, helping clients determine the best means of managing risk and negotiating and placing insurance with insurance carriers through our global distribution network. We operate the largest private Medicare exchange in the United States (‘U.S.’). Through this exchange and those for active employees, we help our clients move to a more sustainable economic model by capping and controlling the costs associated with healthcare benefits. We are not an insurance company, and therefore we do not underwrite insurable risks for our own account. We believe our broad perspective allows us to see the critical intersections between talent, assets and ideas - the dynamic formula that drives business performance. The Merger with Towers Watson that closed on January 4, 2016 affects the comparability between 2016 and other periods presented. See Note 3 — Merger and Acquisitions for additional information. |
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- Definition The entire disclosure for the nature of an entity's business, major products or services, principal markets including location, and the relative importance of its operations in each business and the basis for the determination, including but not limited to, assets, revenues, or earnings. For an entity that has not commenced principal operations, disclosures about the risks and uncertainties related to the activities in which the entity is currently engaged and an understanding of what those activities are being directed toward. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Basis of Presentation and Significant Accounting Policies |
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Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Basis of Presentation and Significant Accounting Policies | Basis of Presentation and Significant Accounting Policies Significant Accounting Policies Conforming reclassifications — Certain reclassifications have been made to prior period amounts to conform to the current year presentation. A material reclassification within the 2015 Consolidated Statement of Operations was made to reclassify $84 million of Transaction and integration expenses from Salary and benefits and Other operating expenses of $3 million and $81 million, respectively. This reclassification was made to present information on a comparable basis. Principles of Consolidation — The accompanying consolidated financial statements include the accounts of Willis Towers Watson and those of our majority-owned and controlled subsidiaries. Intercompany accounts and transactions have been eliminated. We determine whether we have a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity (‘VIE’). Variable interest entities are entities that lack one or more of the characteristics of a voting interest entity and therefore require a different approach in determining which party involved with the VIE should consolidate the entity. With a VIE, either the entity does not have sufficient equity at risk to finance its activities without additional subordinated financial support from other parties, or the equity holders, as a group, do not have the power to direct the activities that most significantly impact its financial performance, the obligation to absorb expected losses of the entity, or the right to receive the expected residual returns of the entity. The entity that has a controlling financial interest in a VIE is referred to as the primary beneficiary and is required to consolidate the VIE. Voting interest entities are entities that have sufficient equity and provide equity investors voting rights that give them the power to make significant decisions related to the entity’s operations. The usual condition for a controlling financial interest in a voting interest entity is ownership of a majority voting interest. Accordingly, we consolidate our voting interest entity investments in which we hold, directly or indirectly, more than 50% of the voting rights. Use of Estimates — These consolidated financial statements conform to accounting principles generally accepted in the United States of America (‘U.S. GAAP’), which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Our estimates, judgments and assumptions are continually evaluated based on available information and experience. Because of the use of estimates inherent in the financial reporting process, actual results could differ from those estimates. Estimates are used when accounting for revenue recognition, the selection of useful lives of fixed and intangible assets, impairment testing, valuation of billed and unbilled receivables from clients, discretionary compensation, income taxes, pension assumptions, incurred but not reported claims, legal reserves and goodwill and intangible assets. Going Concern — Management evaluates at each annual and interim period whether there are conditions or events, considered in the aggregate, that raise substantial doubt about our ability to continue as a going concern within one year after the date that the consolidated financial statements are issued. Management’s evaluation is based on relevant conditions and events that are known and reasonably knowable at the date that the consolidated financial statements are issued. Management has concluded that there are no conditions or events, considered in the aggregate, that raise substantial doubt about our ability to continue as a going concern within one year after the date of these financial statements. Fair Value of Financial Instruments — The carrying values of our cash and cash equivalents, accounts receivable, accrued expenses, revolving lines of credit and term loans approximate their fair values because of the short maturity and liquidity of those instruments. We consider the difference between carrying value and fair value to be immaterial for our senior notes. The fair value of our senior notes are considered Level 2 financial instruments as they are corroborated by observable market data. See Note 11 — Fair Value Measurements for additional information about our measurements of fair value. Investments in Associates — Investments are accounted for using the equity method of accounting, included within other non-current assets in the consolidated balance sheets, if the Company has the ability to exercise significant influence, but not control, over the investee. Significant influence is generally deemed to exist if the Company has an equity ownership in the voting stock of the investee between 20 and 50 percent, although other factors, such as representation on the Board of Directors and the impact of commercial arrangements, are considered in determining whether the equity method of accounting is appropriate. Under the equity method of accounting, the investment is carried at the cost of acquisition, plus the Company’s equity in undistributed net income since acquisition, less any dividends received since acquisition. The Company periodically reviews its investments in associates for which fair value is less than cost to determine if the decline in value is other than temporary. If the decline in value is judged to be other than temporary, the cost basis of the investment is written down to fair value. The amount of any write-down is included in the consolidated statements of operations. Common Shares Split — On January 4, 2016, the Company effected a 1 to 2.6490 reverse share split to shareholders of record as of January 4, 2016. All share and per share information has been retroactively adjusted to reflect the reverse share split and show the new number of shares. See Note 3 — Merger and Acquisitions for additional information about our Merger and reverse share split. Cash and Cash Equivalents — Cash and cash equivalents primarily consist of time deposits with original maturities of 90 days or less. Willis Limited, our U.K. brokerage subsidiary regulated by the Financial Conduct Authority, is currently required to maintain $140 million in unencumbered and available funds, of which at least $79 million must be in cash, for regulatory purposes. Term deposits and certificates of deposits with original maturities greater than 90 days are considered to be short-term investments. There is no restricted cash included in our cash and cash equivalents balance, as these amounts are included in fiduciary assets. Fiduciary Assets and Liabilities — Fiduciary funds represent unremitted premiums received from insureds and unremitted claims or refunds received from insurers. Fiduciary funds are generally required to be kept in certain regulated bank accounts subject to guidelines which emphasize capital preservation and liquidity. Such funds are not available to service the Company’s debt or for other corporate purposes. Notwithstanding the legal relationships with insureds and insurers, the Company is entitled to retain investment income earned on fiduciary funds in accordance with industry custom and practice and, in some cases, as supported by agreements with insureds. The period for which the Company holds such funds is dependent upon the date the insured remits the payment of the premium to the Company, or the date the Company receives refunds from the insurers, and the date the Company is required to forward such payment to the insurer, or insured, respectively. In certain instances, the Company advances premiums, refunds or claims to insurance underwriters or insureds prior to collection. Such advances are made from fiduciary funds and are reflected in the consolidated balance sheets as fiduciary assets. Fiduciary liabilities represent the obligations to remit fiduciary funds and fiduciary receivables to insurers or insureds. Certain of our health and welfare benefits administration outsourcing agreements require us to hold funds on behalf of clients to pay obligations on their behalf. These amounts are included in fiduciary assets and fiduciary liabilities on the consolidated balance sheets. Accounts Receivable — Accounts receivable includes both billed and unbilled receivables and is stated at estimated net realizable values. Provision for billed receivables is recorded, when necessary, in an amount considered by management to be sufficient to meet probable future losses related to uncollectible accounts. Accrued and unbilled receivables are stated at net realizable value which includes an allowance for accrued and unbillable amounts. See Note 14 — Supplementary Information for Certain Balance Sheet Accounts for additional information about our accounts receivable. Income Taxes — The Company recognizes deferred tax assets and liabilities for the estimated future tax consequences of events attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating and capital loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted rates in effect for the year in which the differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of changes in tax rates is recognized in the consolidated statement of operations in the period in which the change is enacted. Deferred tax assets are reduced through the establishment of a valuation allowance at such time as, based on available evidence, it is more likely than not that the deferred tax assets will not be realized. The Company adjusts valuation allowances to measure deferred tax assets at the amounts considered realizable in future periods if the Company’s facts and assumptions change. In making such determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and the results of recent financial operations. We place more reliance on evidence that is objectively verifiable. Positions taken in the Company’s tax returns may be subject to challenge by the taxing authorities upon examination. The Company recognizes the benefit of uncertain tax positions in the financial statements when it is more likely than not that the position will be sustained on the basis of the technical merits of the position assuming the tax authorities have full knowledge of the position and all relevant facts. Recognition also occurs upon either the lapse of the relevant statute of limitations, or when positions are effectively settled. The benefit recognized is the largest amount of tax benefit that is greater than 50 percent likely to be realized on settlement with the tax authority. The Company adjusts its recognition of uncertain tax benefits in the period in which new information is available impacting either the recognition or measurement of its uncertain tax positions. Such adjustments are reflected as increases or decreases to income taxes in the period in which they are determined. The Company recognizes interest and penalties relating to unrecognized tax benefits within income taxes. See Note 6 — Income Taxes for additional information about our income taxes. Foreign Currency — Transactions in currencies other than the functional currency of the entity are recorded at the rates of exchange prevailing at the date of the transaction. Monetary assets and liabilities in currencies other than the functional currency are translated at the rates of exchange prevailing at the balance sheet date and the related transaction gains and losses are reported in the consolidated statements of operations. Certain intercompany loans are determined to be of a long-term investment nature. The Company records transaction gains and losses from remeasuring such loans in the consolidated statements of comprehensive income/(loss). Upon consolidation, the results of operations of subsidiaries and associates whose functional currency is other than the U.S. dollar are translated into U.S. dollars at the average exchange rates and assets and liabilities are translated at year-end exchange rates. Translation adjustments are presented as a separate component of other comprehensive income in the financial statements and are included in net income only upon sale or liquidation of the underlying foreign subsidiary or associated company. Derivatives — The Company uses derivative financial instruments for other than trading purposes to alter the risk profile of an existing underlying exposure. Interest rate swaps have been used to manage interest risk exposures. Forward foreign currency exchange contracts are used to manage currency exposures arising from future income and expenses. The fair values of derivative contracts are recorded in other assets and other liabilities. The effective portions of changes in the fair value of derivatives that qualify for hedge accounting as cash flow hedges are recorded in other comprehensive income. Amounts are reclassified from other comprehensive income into earnings when the hedged exposure affects earnings. If the derivative is designated as, and qualifies as, an effective fair value hedge, the changes in the fair value of the derivative and of the hedged item attributable to the hedged risk are both recognized in earnings. The amount of hedge ineffectiveness recognized in earnings is based on the extent to which an offset between the fair value of the derivative and hedged item is not achieved. Changes in fair value of derivatives that do not qualify for hedge accounting, together with any hedge ineffectiveness on those that do qualify, are recorded in other operating expenses or interest expense as appropriate. The Company evaluates whether its contracts include clauses or conditions which would be required to be separately accounted for at fair value as embedded derivatives. See Note 9 — Derivative Financial Instruments for additional information about our derivatives. Commitments, Contingencies and Provisions for Liabilities — The Company establishes provisions against various actual and potential claims, lawsuits and other proceedings relating principally to alleged errors and omissions in the ordinary course of business. Such provisions cover claims that have been reported but not paid and also unasserted claims and related legal fees. These provisions are established based on actuarial estimates together with individual case reviews and are believed to be adequate in the light of current information and legal advice. In certain cases, where a range of loss exists, we accrue the minimum amount in the range if no amount within the range is a better estimate than any other amount. To the extent such losses can be recovered under the Company’s insurance programs, estimated recoveries are recorded when losses for insured events are recognized and the recoveries are likely to be realized. Significant management judgment is required to estimate the amounts of such unasserted claims and the related insurance recoveries. The Company analyzes its litigation exposure based on available information, including consultation with outside counsel handling the defense of these matters, to assess its potential liability. These contingent liabilities are not discounted. See Note 13 — Commitments and Contingencies and Note 14 — Supplementary Information for Certain Balance Sheet Accounts for additional information about our commitments, contingencies and provisions for liabilities. Share-Based Compensation — The Company has equity-based compensation plans that provide for grants of restricted stock units and stock options to employees and non-employee directors of the Company who perform services for the Company. The Company expenses equity-based compensation, which is included in Salaries and benefits in the consolidated statements of operations, primarily on a straight-line basis over the requisite service period based upon the fair value of the award on the date of grant, the estimated achievement of any performance targets and anticipated staff retention. The awards under equity-based compensation are classified as equity and included as a component of equity on the Company’s consolidated balance sheets, as the ultimate payment of such awards will not be achieved through use of the Company’s cash or other assets. See Note 17 — Share-based Compensation for additional information about our share-based compensation. Fixed Assets — Fixed assets are stated at cost less accumulated depreciation. Expenditures for improvements are capitalized; repairs and maintenance are charged to expenses as incurred. Depreciation is computed primarily using the straight-line method based on the estimated useful lives of assets. Depreciation on internally developed software is amortized over the estimated useful life of the asset ranging from 3 to 10 years. Buildings include assets held under capital leases and are depreciated over the lesser of 50 years, the asset lives or the lease terms. Depreciation on leasehold improvements is calculated over the lesser of the useful lives of the assets or the remaining lease terms. Depreciation on furniture and equipment is calculated based on a range of 3 to 10 years. Land is not depreciated. Long-lived assets are tested for recoverability whenever events or changes in circumstance indicate that their carrying amounts may not be recoverable. An impairment loss is recognized if the carrying amount of a long-lived asset is not recoverable and exceeds its fair value. Recoverability is determined based on the undiscounted cash flows expected to result from the use and eventual disposition of the asset or asset group. Long-lived assets and certain identifiable intangible assets to be disposed of are reported at the lower of carrying amount or fair value less cost to sell. See Note 7 — Fixed Assets for additional information about our fixed assets. Operating Leases —Rentals payable on operating leases are charged straight line to Other operating expenses in the consolidated statements of operations over the lease term. See Note 13 — Commitments and Contingencies for additional information about our operating leases. Goodwill and Other Intangible Assets — In applying the acquisition method of accounting for business combinations, amounts assigned to identifiable assets and liabilities acquired were based on estimated fair values as of the date of acquisition, with the remainder recorded as goodwill. Intangible assets are initially valued at fair value using generally accepted valuation methods appropriate for the type of intangible asset. Intangible assets with definite lives are amortized over their estimated useful lives and are reviewed for impairment if indicators of impairment arise. Intangible assets with indefinite lives (currently only acquired software that is in the in-process research and development stage) are tested for impairment annually as of October 1, and whenever indicators of impairment exist. The fair values of intangible assets are compared with their carrying values, and an impairment loss would be recognized for the amount by which a carrying amount exceeds its fair value. Acquired intangible assets are amortized over the following periods:
Goodwill is tested for impairment annually as of October 1, and whenever indicators of impairment exist. Goodwill is tested at the reporting unit level, and the Company had eight reporting units as of October 1, 2016. In the first step of the impairment test, the fair value of each reporting unit is compared with its carrying value, including goodwill. If the carrying value of a reporting unit exceeds its fair value, the amount of an impairment loss, if any, is calculated in the second step of the impairment test by comparing the implied fair value of reporting unit goodwill with the carrying amount of that goodwill. The Company’s goodwill impairment tests for the years ended December 31, 2016 and 2015 have not resulted in any impairment charges. See Note 8 — Goodwill and Other Intangible Assets for additional information about our goodwill and other intangible assets. Pensions — The Company has multiple defined benefit pension and defined contribution plans. The net periodic cost of the Company’s defined benefit plans are measured on an actuarial basis using various methods and actuarial assumptions. The most significant assumptions are the discount rates (calculated from the 2016 fiscal year and forward using the granular approach to calculating service and interest cost) and the expected long-term rates of return on plan assets. Other material assumptions include rates of participant mortality, the expected long-term rates of compensation and pension increases and rates of employee termination. Gains and losses occur when actual experience differs from actuarial assumptions. If such gains or losses exceed ten percent of the greater of plan assets or plan liabilities, the Company amortizes those gains or losses over the average remaining service period or average remaining life expectancy, as appropriate, of the plan participants. In accordance with U.S. GAAP, the Company records on its consolidated balance sheets the funded status of its pension plans based on the projected benefit obligation. Contributions to the Company’s defined contribution plans are recognized as incurred. Differences between contributions payable in the year and contributions actually paid are shown as either other assets or other liabilities in the consolidated balance sheets. See Note 12 — Retirement Benefits for additional information about our pensions. Revenue Recognition — Revenues include insurance commissions, fees in lieu of commission, fees for consulting services rendered, hosted and delivered software, survey sales, interest and other income. Revenue recognized in excess of billings is recorded as unbilled accounts receivable. Cash collections in excess of revenue recognized are recorded as deferred revenue until the revenue recognition criteria are met. Client reimbursable expenses, including those relating to travel, other out-of-pocket expenses and any third-party costs, are included in revenue, and an equivalent amount of reimbursable expenses is included in other operating expenses as a cost of revenue. Commissions and fees Commissions revenue. Brokerage commissions and fees negotiated in lieu of commissions are recognized at the later of the policy inception date or when the policy placement is complete. In situations in which our fees are not fixed and determinable due to the uncertainty of the commission fee per policy, we recognize revenue as the fees are determined. Commissions on additional premiums and adjustments are recognized when approved by or agreed between the parties and collectability is reasonably assured. Consulting revenue. The majority of our consulting revenues consists of fees earned from providing consulting services. We recognize revenues from these consulting engagements when hours are worked, either on a time-and-expense basis or on a fixed-fee basis, depending on the terms and conditions defined at the inception of an engagement with a client. We have engagement letters with our clients that specify the terms and conditions upon which the engagements are based. These terms and conditions can only be changed upon agreement by both parties. Individual billing rates are principally based on a multiple of salary and compensation costs. Revenues for fixed-fee arrangements are based upon the proportional performance method to the extent estimates can be made of the remaining work required under the arrangement. If we do not have sufficient information to estimate proportional performance, we recognize the fees straight-line over the contract period. We typically have four types of fixed-fee arrangements: annual recurring projects, projects of a short duration, stand-ready obligations and non-recurring system projects.
Revenue recognition for fixed-fee engagements is affected by a number of factors that change the estimated amount of work required to complete the project such as changes in scope, the staffing on the engagement and/or the level of client participation. The periodic engagement evaluations require us to make judgments and estimates regarding the overall profitability and stage of project completion that, in turn, affect how we recognize revenue. We recognize a loss on an engagement when estimated revenues to be received for that engagement are less than the total estimated costs associated with the engagement. Losses are recognized in the period in which the loss becomes probable and the amount of the loss is reasonably estimable. Hosted software. We have developed various software programs and technologies that we provide to clients in connection with consulting services. In most instances, such software is hosted and maintained by us and ownership of the technology and rights to the related code remain with us. We defer costs for software developed to be utilized in providing services to a client, but for which the client does not have the contractual right to take possession, during the implementation stage. We recognize these deferred costs from the go live date, signaling the end of the implementation stage, until the end of the initial term of the contract with the client. We determined that the system implementation and customized ongoing administrative services are one combined service. Revenue is recognized over the service period, after the go live date, in proportion to the services performed. As a result, we do not recognize revenue during the implementation phase of an engagement. Delivered software. We deliver software under arrangements with clients who take possession of our software. The maintenance associated with the initial software fees is a fixed percentage which enables us to determine the stand-alone value of the delivered software separate from the maintenance. We recognize the initial software fees as software is delivered to the client and we recognize the maintenance ratably over the contract period based on each element’s relative fair value. For software arrangements in which initial fees are received in connection with mandatory maintenance for the initial software license to remain active, we determined that the initial maintenance period is substantive. Therefore, we recognize the fees for the initial license and maintenance bundle ratably over the initial contract term, which is generally one year. Each subsequent renewal fee is recognized ratably over the contractually stated renewal period. Surveys. We collect, analyze and compile data in the form of surveys for our clients who have the option of participating in the survey. The surveys are published online via a web tool that provides simplistic functionality. We have determined that the web tool is inconsequential to the overall arrangement. We record the survey revenues when the results are delivered online and made available to our clients who have a contractual right to the data. If the data is updated more frequently than annually, we recognize the survey revenues ratably over the contractually stated period. Interest and other income Interest income. Interest income is recognized as earned. Other Income. Other income includes gains on disposal of intangible assets, which primarily arise from settlements through enforcing non-compete agreements in the event of losing accounts through producer defection or the disposal of books of business. Recent Accounting Pronouncements Not yet adopted In May 2014, the Financial Accounting Standards Board (‘FASB’) issued Accounting Standard Update (‘ASU’) No. 2014-09 ‘Revenue From Contracts With Customers’. The new standard supersedes most current revenue recognition guidance and eliminates industry-specific guidance. The ASU is based on the principle that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to fulfill a contract. Entities have the option of using either a full retrospective or a modified retrospective approach for the adoption of the new standard. Additional ASUs have since been issued, all of which provide additional guidance, examples and technical corrections for the implementation of ASU No. 2014-09. The guidance is effective for the Company at the beginning of its 2018 fiscal year, with early adoption permitted. While we are still in the process of analyzing our various revenue streams to determine the full impact this standard will have on our revenue recognition, cost deferral, systems and processes, the Company has determined the following:
The Company continues to update its assessment of the impacts of the accounting standard, and related updates, to the consolidated financial statements, and will note material impacts when known. In February 2016, the FASB issued ASU No. 2016-02 ‘Leases’, which requires a lessee to recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. The ASU becomes effective for the Company at the beginning of the 2019 fiscal year and early adoption is permitted. In transition, the Company is required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach, which includes a number of optional practical expedients. While the Company continues to assess the impact of the ASU to the consolidated financial statements, the majority of our leases are currently considered operating leases and will be capitalized as a lease asset on our balance sheet with a related lease liability for the obligated lease payments. In March 2016, the FASB issued ASU No. 2016-09 ‘Compensation - Stock Compensation’, which simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The ASU becomes effective for the Company at the beginning of the 2017 fiscal year and early adoption is permitted. Certain applications of the ASU are to be applied prospectively or retrospectively with a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. The Company is currently assessing the impact that this standard will have on its consolidated financial statements. In August 2016, the FASB issued ASU No. 2016-15 ‘Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments’, which amends guidance on presentation and classification of eight specific cash flow issues with the objective of reducing diversity in practice. The ASU becomes effective for the Company at the beginning of 2018. Early adoption is permitted and any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. An entity that elects early adoption must adopt all of the amendments in the same period. The Company is still assessing the impact of this ASU, but we believe the impact on our financial statements will be immaterial as we are largely in compliance with its requirements. In October 2016, the FASB issued ASU No. 2016-16 ‘Income Taxes’, which amends guidance regarding the recognition of current and deferred income taxes for intra-entity asset transfers. Current U.S. GAAP prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party. The ASU states that an entity should recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. The amendments in this ASU should be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company intends to early adopt this standard on January 1, 2017. The cumulative-effect adjustment will be immaterial to the consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-01 ‘Business Combinations - Clarifying the Definition of a Business’, which clarifies the definition of a business, to assist with the evaluation of whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendments in this ASU include the provision of a screen to determine when an integrated set of assets and activities is not a business; that is, when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset (or a group of similar identifiable assets), the set is not a business. This screen reduces the number of transactions that need to be further evaluated. The ASU becomes effective for the Company at the beginning of 2018. The amendments in this ASU should be applied prospectively. Early adoption is permitted for acquisitions (or disposals) that have not already been reported in the financial statements. The Company is currently assessing the impact that this ASU will have on its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04 ‘Simplifying the Test for Goodwill Impairment’, which simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. In computing the implied fair value of goodwill under Step 2, current U.S. GAAP requires the performance of procedures to determine the fair value at the impairment testing date of assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, the amendments under this ASU require the goodwill impairment test to be performed by comparing the fair value of a reporting unit with its carrying amount. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The ASU becomes effective for the Company at the beginning of 2020. The amendments in this ASU should be applied on a prospective basis. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company does not expect an immediate impact to its consolidated financial statements upon adopting this ASU since the most recent Step 1 goodwill impairment test resulted in fair values exceeding carrying values for all reporting units at October 1, 2016. Adopted In May 2015, the FASB issued ASU No. 2015-07, ‘Fair Value Measurement - Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent)’, which simplifies reporting requirements and modifies those investments required to be classified within the fair value hierarchy. Certain investments measured at fair value using the Net Asset Value (‘NAV’) practical expedient are no longer required to be classified as a Level within the fair value hierarchy table. Entities will be required to include in their disclosure, the fair value of the investments using the NAV practical expedient so that financial statement users can reconcile amounts reported in the fair value hierarchy table to amounts reported on the balance sheet. The ASU is to be applied retrospectively in all periods presented in an entity’s financial statements. The Company adopted this standard on January 1, 2016. The adoption has been reflected in the fair value tables in Note 12 — Retirement Benefits to these financial statements. In September 2015, the FASB issued ASU No. 2015-16 ‘Simplifying the Accounting for Measurement-Period Adjustments’ in relation to business combinations, which requires that an acquirer recognize adjustments to provisional amounts that are identified in the measurement period in the reporting period in which the adjustment amounts are determined. The Company adopted this standard on January 1, 2016. Adjustments made to provisional amounts related to business combinations are reflected in the consolidated financial statements and disclosed in Note 8 — Goodwill and Other Intangible Assets and Note 3 — Merger and Acquisitions to these consolidated financial statements. |
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- Definition The entire disclosure for the basis of presentation and significant accounting policies concepts. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). Accounting policies describe all significant accounting policies of the reporting entity. No definition available.
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Merger and Acquisitions |
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Business Combinations [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Merger and Acquisitions | Merger and Acquisitions Merger On January 4, 2016, pursuant to the Agreement and Plan of Merger, dated June 29, 2015, as amended on November 19, 2015, between Willis, Towers Watson, and Citadel Merger Sub, Inc., a wholly-owned subsidiary of Willis formed for the purpose of facilitating this transaction (‘Merger Sub’), Merger Sub merged with and into Towers Watson, with Towers Watson continuing as the surviving corporation and a wholly-owned subsidiary of Willis. Towers Watson was a leading global professional services firm operating throughout the world, dating back more than 100 years. The Merger will allow the combined firm to go to market with complementary strategic product and services offerings. At the effective time of the Merger (the ‘Effective Time’), each issued and outstanding share of Towers Watson common stock (the ‘Towers Watson shares’), was converted into the right to receive 2.6490 validly issued, fully paid and nonassessable ordinary shares of Willis (the ‘Willis ordinary shares’), $0.000115 nominal value per share, other than any Towers Watson shares owned by Towers Watson, Willis or Merger Sub at the Effective Time and the Towers Watson shares held by stockholders who are entitled to and who properly exercised dissenter’s rights under Delaware law. Immediately following the Merger, Willis effected (i) a consolidation (i.e., a reverse stock split under Irish law) of Willis ordinary shares whereby every 2.6490 Willis ordinary shares were consolidated into one Willis ordinary share $0.000304635 nominal value per share and (ii) an amendment to its Constitution and other organizational documents to change its name from Willis Group Holdings Public Limited Company to Willis Towers Watson Public Limited Company. On December 29, 2015, the third business day immediately prior to the closing date of the Merger, Towers Watson declared and paid the Towers Watson pre-merger special dividend, in an amount of $10.00 per share of Towers Watson common stock, approximately $694 million in the aggregate based on approximately 69 million Towers Watson shares issued and outstanding at December 29, 2015. On December 30, 2015, all Towers Watson treasury stock was canceled. The Merger was accounted for using the acquisition method of accounting with Willis considered the accounting acquirer of Towers Watson. The table below presents the calculation of aggregate Merger Consideration.
A summary of the fair values of the identifiable assets acquired, and liabilities assumed, of Towers Watson at January 4, 2016 are summarized in the following table.
The assessment outlined above was updated to reflect changes in the initial estimates of the fair values of assets and liabilities acquired as presented in the subsequent event disclosure of the fiscal year 2015 Form 10-K, including the following material changes: intangible assets decreased by $119 million; deferred tax liabilities increased by $135 million; and goodwill increased by $237 million for the residual amount of the changes. Goodwill is calculated as the difference between the aggregate merger consideration and the acquisition date fair value of the net assets acquired, and represents the value of the Legacy Towers Watson assembled workforce and the future economic benefits that we expect to achieve as a result of the Merger. None of the goodwill recognized on the transaction is tax deductible. The acquired intangible assets are attributable to the following categories:
The purchase price allocation as of the date of acquisition was based on a valuation of the assets acquired and liabilities assumed in the acquisition. All revisions to the purchase price allocation during the year ended December 31, 2016 are reflected in our current consolidated financial statements, and the purchase price allocation is final. The following pro forma financial information is unaudited and is intended to reflect the impact of the Merger on Willis Towers Watson’s consolidated financial statements as if the Merger had taken place on January 1, 2015 and presents the results of operations of Willis Towers Watson based on the historical financial statements of Willis and Towers Watson after giving effect to the Merger and pro forma adjustments. Pro forma adjustments are included only to the extent they are (i) directly attributable to the Merger, (ii) factually supportable and (iii) with respect to the consolidated statement of operations, expected to have a continuing impact on the combined results. The accompanying unaudited pro forma financial information is presented for illustrative purposes only and has not been adjusted to give effect to certain expected financial benefits of the Merger, such as revenue synergies, tax savings and cost synergies, or the anticipated costs to achieve these benefits, including the cost of integration activities. The unaudited pro forma results are not indicative of what would have occurred had the Merger taken place on the indicated date.
The above pro forma financial information for the year ended December 31, 2015 does not include pro forma adjustments for the Gras Savoye or other acquisitions as their revenues and results of operations were immaterial to the consolidated financial statements. Revenues attributable to Towers Watson for the year ended December 31, 2016 were $3.6 billion. Net income attributable to Towers Watson for the year ended December 31, 2016 was $111 million. Acquired Share-Based Compensation Plans In connection with our Merger with Towers Watson on January 4, 2016, we assumed certain stock options and restricted stock units (‘RSU’) issued under the Towers Watson & Co. 2009 Long Term Incentive Plan (‘LTIP’), the Liazon Corporation 2011 Equity Incentive Plan, and the Extend Health, Inc. 2007 Equity Incentive Plan. Stock Options. The outstanding unvested employee stock options were converted into 592,486 Willis Towers Watson stock options using the conversion ratios stated in the Merger agreement for the number of options. The fair value of the stock options was calculated using the Black-Scholes model with a volatility and risk-free interest rate over the expected term of each group of options and the Willis Towers Watson’s closing share price on the date of acquisition. We determined the fair value of the portion of the outstanding options related to pre-acquisition employee service using the straight-line expense methodology from the date of grant to the acquisition date to be $7 million, which was added to the transaction consideration. The fair value of the remaining portion of options related to the post-acquisition employee services was $13 million, and will be recorded over the future vesting periods. Restricted Stock Units. The outstanding unvested restricted stock units were converted into 597,307 Willis Towers Watson restricted stock units using the conversion ratios stated in the Merger agreement. The fair value of these restricted stock units was calculated using Willis Towers Watson’s closing share price on the date of acquisition. We determined the fair value of the portion of the outstanding RSUs related to pre-acquisition employee service using the straight-line expense methodology from the date of grant to the acquisition date to be $30 million which was added to the transaction consideration. The fair value of the remaining portion of RSUs related to the post-acquisition employee services was $32 million, and will be recorded over the future vesting periods. Gras Savoye Acquisition On December 29, 2015, Legacy Willis completed the transaction to acquire substantially all of the remaining 70% of the outstanding share capital of Gras Savoye, the leading insurance broker in France, for total consideration of €544 million ($592 million) of which $582 million in cash was paid at closing. Additionally, the previously held equity interest in Gras Savoye was remeasured to a fair value of €221 million ($241 million) giving a total fair value on a 100% basis of €765 million ($833 million). The union combines the Company’s global insurance broking footprint with Gras Savoye’s particularly strong presence in France, Central and Eastern Europe, and across Africa. Gras Savoye’s expertise in high-growth markets and industry sectors complements the Company’s global strengths, creating value for clients. The Company funded the cash consideration with a 1-year term loan. The term loan was repaid in its entirety on May 26, 2016, from the proceeds from the issuance of new senior notes discussed in Note 10 — Debt to these consolidated financial statements. Deferred consideration is payable on the first and second anniversary of the acquisition. The discounted fair value of the deferred consideration at December 31, 2016 and 2015 was $4 million and $10 million, respectively. None of the goodwill recognized on the transaction is tax deductible. The following table presents the Company’s allocation of the purchase price to the assets acquired and liabilities assumed based on their fair values:
The purchase price allocation as of the date of acquisition was based on a valuation and was subject to revision within the purchase price allocation period as more detailed analysis was completed and additional information about the value of assets acquired and liabilities assumed became available. During the year ended December 31, 2016, the assessment outlined above was updated to reflect the final estimates of the fair value of assets and liabilities acquired. The purchase price allocation is final. The acquired intangible assets are attributable to the following categories:
Miller Insurance Services LLP Acquisition On May 31, 2015, Legacy Willis completed the transaction to acquire an 85 percent interest in Miller, a leading London wholesale specialist insurance broking firm, for total consideration of $401 million including cash consideration of $232 million. Deferred consideration is payable at the first, second and third anniversaries of the acquisition. Contingent consideration is payable at the third anniversary of the acquisition and is contingent on meeting certain earnings before interest, taxes, depreciation and amortization (‘EBITDA’) performance targets. At December 31, 2015, the discounted fair value of the deferred and contingent considerations, based on best estimates, at acquisition were $124 million and $29 million, respectively. At December 31, 2016, the discounted fair values of the deferred consideration, related to the second and third anniversaries, and contingent consideration were $69 million and $26 million, respectively. The Company recognized assets and liabilities acquired of $1.1 billion and $844 million, respectively. Included within the acquired assets are identifiable intangible assets of $231 million and goodwill of $184 million. The purchase price allocation as of the date of acquisition was based on a valuation of the assets acquired, liabilities assumed, and contingent consideration associated with the acquisition. There have been no material revisions to the purchase price allocation during the year ended December 31, 2016 and the purchase price allocation is final. |
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- Definition The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings. No definition available.
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Segment Information |
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Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Information | Segment Information During the second quarter of 2016, we began managing our business across four integrated reportable operating segments. As a result, the Company has changed the way it manages and reports segment revenues and segment operating income, resulting in a change in the Company’s reportable segments from eight reportable segments, formerly known as Willis International; Willis North America; Willis Capital, Wholesale & Reinsurance; Willis GB; Towers Watson Benefits; Towers Watson Exchange Solutions; Towers Watson Risk and Financial Services; and Towers Watson Talent and Rewards, into four reportable segments: Human Capital and Benefits; Corporate Risk and Broking; Investment, Risk and Reinsurance; and Exchange Solutions. The prior period comparatives have been retroactively reclassified for our segment reorganization. Willis Towers Watson’s chief operating decision maker is the chief executive officer. We determined that the operational data used by the chief operating decision maker is at the segment level. Management bases strategic goals and decisions on these segments and the data presented below is used to assess the adequacy of strategic decisions, the method of achieving these strategies and related financial results. Management evaluates the performance of its segments and allocates resources to them based on net operating income on a pre-bonus, pre-tax basis. Consolidated U.S. GAAP revenues include amounts that were directly incurred on behalf of our clients and reimbursed by them (reimbursable expenses). See Item 1 within this Annual Report on Form 10-K for complete descriptions of our segments. A brief description of our new segments are as follows: Human Capital and Benefits The Human Capital & Benefits (‘HCB’) segment provides an array of advice, broking, solutions and software for our clients. HCB is the largest segment of the Company. The segment is focused on addressing our clients’ employee and risk needs so that they can deliver sustainable employee experiences. This segment also delivers full outsourcing solutions to employers outside of the United States. Corporate Risk and Broking The Corporate Risk and Broking (‘CRB’) segment provides a broad range of risk advice, insurance broking and consulting services to clients worldwide ranging from small businesses to multinational corporations. The segment delivers innovative, integrated global solutions tailored to client needs and underpinned by data and analytics. CRB operates as an integrated global team comprising both functional and geographic leadership. In these operations, we have extensive specialized experience handling diverse lines of coverage, including complex insurance programs. A key objective is to assist clients in reducing their overall cost of risk. Investment, Risk and Reinsurance The Investment, Risk and Reinsurance (‘IRR’) segment uses a sophisticated approach to risk which helps clients free up capital and manage investment complexity. The segment works closely with investors, reinsurers and insurers to manage the equation between risk and return. Blending advanced analytics with deep institutional knowledge, IRR identifies new opportunities to maximize performance. IRR provides investment consulting services and insurance specific services and solutions through reserves opinions, software, ratemaking, usage-based insurance, risk underwriting, and reinsurance broking. Exchange Solutions The Exchange Solutions (‘ES’) segment provides primary medical and ancillary benefit exchange and outsourcing services to active employees and retirees across both the group and individual markets. ES services individual populations via its ‘group to individual’ technology platform, which tightly integrates patented call routing technology, an efficient quoting and enrollment engine, a custom-developed Customer Relationship Management system and comprehensive insurance carrier connectivity. This segment also delivers group benefit exchanges and full outsourcing solutions serving the active employees of employers across the United States. ES uses Software as a Service (‘SaaS’)-based technology and related services to deliver consumer-driven healthcare and reimbursement accounts, including health savings accounts, health reimbursement arrangements, flexible spending accounts and other consumer-directed accounts. Under the new segment structure and for internal and segment reporting, Willis Towers Watson segment revenues include commissions and fees, interest and other income. U.S. GAAP revenues include amounts that were directly incurred on behalf of our clients and reimbursed by them (reimbursable expenses), which are removed from segment revenues. Segment commissions and fees excludes interest and other income. Segment operating income excludes certain costs, including (i) amortization of intangibles; (ii) restructuring costs; (iii) certain transaction and integration expenses; (iv) certain litigation provisions; and (v) to the extent that the actual expense based upon which allocations are made differs from the forecast/budget amount, a reconciling item will be created between internally allocated expenses and the actual expense that we report for U.S. GAAP purposes. Segment revenues and operating income both include revenue that was deferred by Towers Watson at the time of the Merger, and eliminated due to purchase accounting. The impact of the elimination from purchase accounting (which is the reduction to 2016 consolidated revenues and operating income) has been included in the reconciliation to our consolidated results in order to provide the actual revenues that the segments would have recognized on an unadjusted basis. The table below presents segment commissions and fees, segment interest and other income, segment revenues, and segment operating income for our reportable segments for the years ended December 31, 2016, 2015, and 2014, respectively:
The table below presents a reconciliation of the information reported by segment to the consolidated amounts reported for the years ended December 31, 2016, 2015, and 2014, respectively:
The Company does not currently provide asset information by reportable segment as it does not routinely evaluate the total asset position by segment. None of the Company’s customers represented a significant amount of the Company’s consolidated commissions and fees for the years ended December 31, 2016, 2015 and 2014. Below are our revenues and long-lived assets by legal entity for Ireland, our country of domicile, countries with significant concentrations, and all other foreign countries for each of the years ended December 31, 2016, 2015 and 2014:
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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring Costs | Restructuring Costs The Company had two restructuring programs during the year ended December 31, 2016. The Legacy Willis Operational Improvement Program (‘OIP’) and the Willis Towers Watson Business Restructuring Program (‘BRP’). Expenses related to these plans are recorded in restructuring costs on the consolidated statements of operations. An analysis of our total restructuring costs recorded in the statements of operations, and the costs by segment, and costs attributable to corporate functions, for the years ended December 31, 2016, 2015, and 2014 are as follows:
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Operational Improvement Program - In April 2014, Legacy Willis announced a multi-year operational improvement program designed to strengthen its client service capabilities and to deliver future cost savings. The main elements of the program, which will be completed by the end of 2017, include: moving more than 3,500 support roles from higher cost locations to facilities in lower cost locations; net workforce reductions in support positions; lease consolidation in real estate; and information technology systems simplification and rationalization. The Company recognized restructuring costs of $145 million, $126 million, and $36 million for the years ended December 31, 2016, 2015 and 2014, related to its OIP. The Company expects to incur an additional $130 million of restructuring costs through the end of 2017, bringing the cumulative restructuring charges to approximately $440 million. An analysis of the total cumulative restructuring costs recognized for the OIP from commencement to December 31, 2016 by segment, and costs attributable to corporate functions, are as follows:
At December 31, 2016, the Company’s liability under the OIP is as follows:
Business Restructure Program - In the second quarter of 2016, we began planning targeted staffing reductions in certain portions of the business due to a reduction in business demand or change in business focus. The main element of the program was workforce reductions, and was completed as of December 31, 2016. The Company recognized restructuring costs of $48 million for the year ended December 31, 2016. An analysis of the total cumulative restructuring costs recognized for the BRP from commencement to December 31, 2016 by segment, and those costs attributable to corporate functions, are as follows:
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At December 31, 2016, the Company’s liability under the BRP is as follows:
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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Income Taxes |
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Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Taxes | Income Taxes Provision for income taxes An analysis of income/(loss) before income taxes by taxing jurisdiction is shown below:
The components of the income tax provision for continuing operations include:
Effective tax rate reconciliation The reported income tax provision for continuing operations differs from the amounts that would have resulted had the reported income before income taxes been taxed at the U.S. federal statutory rate. The principal reasons for the differences between the amounts provided and those that would have resulted from the application of the U.S. federal statutory tax rate are as follows:
Willis Towers Watson plc is a non-trading holding company tax resident in Ireland where it is taxed at the statutory rate of 25%. The provision for income tax on continuing operations has been reconciled above to the U.S. federal statutory tax rate of 35% due to significant operations in the U.S. Deferred income taxes Deferred income tax assets and liabilities reflect the effect of temporary differences between the assets and liabilities recognized for financial reporting purposes and the amounts recognized for income tax purposes. We recognize deferred tax assets if it is more likely than not that a benefit will be realized. Deferred income tax assets and liabilities included in the consolidated balance sheets at December 31, 2016 and 2015 are comprised of the following:
The net deferred income tax assets are included in other non-current assets and the net deferred tax liabilities are included in deferred tax liabilities in our balance sheets.
At December 31, 2016, the Company had deferred tax assets of $894 million, net of the valuation allowance. Management believes, based on the evaluation of positive and negative evidence, including the future reversal of existing taxable temporary differences, it is more likely than not that the Company will realize the benefits of these deductible differences, net of the valuation allowance. During calendar year 2016 the Company released a valuation allowance of $69 million relating to accrued interest not deductible as a result of deferred tax liabilities recorded for the Merger. The future reversal of the deferred tax liabilities serve as a source of income to recognize the deferred tax asset for accrued interest not deductible. At December 31, 2016, we had U.S. federal and non-U.S. tax loss carryforwards amounting to $246 million of which $197 million can be indefinitely carried forward under local statutes. The remaining $49 million of net operating loss carryforwards will expire, if unused, in varying amounts from 2017 through 2036. In addition, we had U.S. state net operating loss carryforwards of $1.2 billion, which will expire in varying amounts from 2017 to 2036. At December 31, 2016 and 2015, the Company had valuation allowances of $134 million and $187 million, respectively, to reduce its deferred tax assets to estimated realizable value. The valuation allowance at December 31, 2016 relates to deferred tax assets for U.K. capital loss carryforwards of $28 million, which have an unlimited carryforward period. The valuation allowances on U.S. and non-U.S. net operating losses are $78 million and $28 million, respectively. The valuation allowance at December 31, 2015 relates to deferred tax assets for U.K. capital loss carryforwards of $33 million and accrued interest not currently deductible of $69 million, which have an unlimited carryforward period. The valuation allowances on U.S. and non-U.S. net operating losses are $79 million and $6 million, respectively. An analysis of our valuation allowance is shown below.
The amount charged to tax expense in the table above for 2016 differs from the effect of $74 million disclosed in the rate reconciliation primarily because the movement in this table includes the effects of acquisition accounting, which does not impact tax expense. The Company recognizes deferred tax balances related to the undistributed earnings of subsidiaries when the Company expects that it will recover those undistributed earnings in a taxable manner, such as through receipt of dividends or sale of the investments. Historically, we have not provided deferred taxes on the cumulative earnings of our subsidiaries that have been reinvested indefinitely. As a result of the Merger, and our plan to restructure certain foreign operations or distribute accumulated earnings of certain acquired Towers Watson subsidiaries’, we recorded a deferred tax liability of $77 million on outside basis differences and cumulative earnings through goodwill. We continue to assert that the historical cumulative earnings of our other subsidiaries are reinvested indefinitely and we do not provide deferred tax liabilities on these amounts. The cumulative earnings related to amounts reinvested indefinitely as of December 31, 2016 were approximately $5.9 billion. It is not practicable to estimate the tax liability that might be payable if such earnings are not reinvested indefinitely. If future events, including material changes in estimates of cash, working capital, long-term investment requirements or U.S. tax reform necessitate that these earnings be distributed, an additional provision for income and foreign withholding taxes, net of credits, may be necessary. Uncertain tax positions At December 31, 2016, the amount of unrecognized tax benefits associated with uncertain tax positions, determined in accordance with ASC 740-10, excluding interest and penalties, was $56 million. This liability can be reduced by $4 million of offsetting deferred tax benefits associated with timing differences, foreign tax credits and the federal tax benefit of state income taxes. If recognized, $52 million of this difference would impact our effective tax rate. A reconciliation of the beginning and ending balances of the liability for unrecognized tax benefits is as follows:
The liability for the years ended December 31, 2015 and 2014, respectively, had nil and $2 million of deferred tax benefits that, if recognized, would have a favorable impact on our effective tax rate. In addition, there are no material balances that would result in adjustments to other tax accounts. Interest and penalties related to unrecognized tax benefits are included as a component of income tax expense. At December 31, 2016, we had cumulative accrued interest of $4 million. At December 31, 2015, the cumulative accrued interest was immaterial. Penalties accrued in 2016 and 2015, respectively, were immaterial. Tax expense for the years ended December 31, 2016 and 2015 include interest benefits of $1 million, and nil, respectively. The Company believes that the outcomes which are reasonably possible within the next 12 months may result in a reduction in the liability for uncertain tax positions in the range of $3 million to $6 million, excluding interest and penalties. The Company and its subsidiaries file income tax returns in various tax jurisdictions in which it operates. During calendar year 2016 the Company recognized approximately $3 million of income tax benefits, including interest and penalties due to U.S. Federal lapses in statutes of limitations and effective settlements related to fiscal year 2015. Willis North America Inc. is not currently under examination by the U.S. Internal Revenue Service (‘IRS’). Although tax years 2008 through 2012 are closed, the IRS could make adjustments (but not assess additional tax) up to the amount of net operating losses carried forward from those years and utilized in open years. Towers Watson & Co. is currently being audited by the IRS under the Compliance Assurance Process (‘CAP’) for the short tax period July 1, 2015 to January 4, 2016. Under CAP, the IRS works with large business taxpayers to identify and resolve issues prior to the filing of a tax return. This is Towers Watson & Co.’s last year in the CAP program. As of December 31, 2016, the Company has not been advised of any significant adjustments. We also have ongoing state income tax examinations in certain states for tax years ranging from fiscal year ended June 30, 2012 through fiscal year ended June 30, 2014. The statute of limitations in certain states extends back to 2002 as a result of changes to taxable income resulting from prior year federal tax examinations. All U.K. tax returns have been filed timely and are in the normal process of being reviewed by HM Revenue & Customs. The Company is not currently subject to any material examinations in other jurisdictions. A summary of the tax years that remain open to tax examination in our major tax jurisdictions are as follows:
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- References No definition available.
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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Fixed Assets |
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Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fixed Assets | Fixed Assets The following table reflects changes in the net carrying amount of the components of fixed assets for the year ended December 31, 2016 and 2015:
Included within land and buildings are the following assets held under capital leases:
Depreciation related to capital leases was $2 million for each of the years ended December 31, 2016, 2015 and 2014. |
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- References No definition available.
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- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Goodwill and Other Intangible Assets, Net |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Other Intangible Assets, Net | Goodwill and Other Intangible Assets Goodwill Goodwill represents the excess of the cost of businesses acquired over the fair market value of identifiable net assets at the dates of acquisition. Goodwill is not amortized but is subject to impairment testing annually and whenever facts or circumstances indicate that the carrying amounts may not be recoverable. Goodwill is allocated to our reporting units primarily based on the original purchase price allocation for acquisitions within the reporting units, or relative fair value when an acquisition covers multiple reporting units. When a business entity is sold, goodwill is allocated to the entity disposed of based on the relative fair value of that entity compared with the fair value of the reporting unit in which it is included. During the second quarter of 2016, the Company changed the way it manages and reports operating results, resulting in a change in the Company’s operating and reportable segments from the Legacy Company platforms into four integrated reportable operating segments: Human Capital and Benefits; Corporate Risk and Broking; Investment, Risk and Reinsurance; and Exchange Solutions. See Note 4 — Segment Information for a description of our segments. The components of goodwill are outlined below for the years ended December 31, 2016 and 2015:
Other Intangible Assets The following table reflects changes in the net carrying amount of the components of finite-lived intangible assets for the year ended December 31, 2016:
The following table reflects changes in the net carrying amount of the components of finite-lived intangible assets for the year ended December 31, 2015:
We recorded amortization related to our finite-lived intangible assets, exclusive of the amortization of our favorable lease agreements, of $591 million, $76 million, and $54 million for the years ended December 31, 2016, 2015 and 2014, respectively. Our acquired unfavorable lease liabilities were $29 million and $23 million as of December 31, 2016 and December 31, 2015, respectively, and are recorded in the other non-current liabilities in the consolidated balance sheet. The following table reflects the carrying value of finite-lived intangible assets and liabilities as of December 31, 2016 and December 31, 2015:
The weighted average remaining life of amortizable intangible assets and liabilities at December 31, 2016 was 14.8 years. The table below reflects the future estimated amortization expense for amortizable intangible assets and the rent offset resulting from amortization of the net lease intangible assets and liabilities for the next five years are as follows:
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- References No definition available.
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- Definition The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Derivative Financial Instruments |
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Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Financial Instruments | Derivative Financial Instruments We are exposed to certain interest rate and foreign currency risks. Where possible, we identify exposures in our business that can be offset internally. Where no natural offset is identified, we may choose to enter into various derivative transactions. For the years ended December 31, 2016 and 2015, all of our derivative instruments qualifying for hedge accounting are considered cash flow hedges. These instruments have the effect of reducing our exposure to unfavorable changes in interest and foreign currency rates. The Company’s Board of Directors reviews and approves policies for managing each of these risks as summarized below. Interest Rate Risk - Interest Income As a result of the Company’s operating activities, the Company holds fiduciary funds. The Company earns interest on these funds, which is included in the Company’s consolidated financial statements as interest and other income. These funds are regulated in terms of access as are the instruments in which they may be invested, most of which are short-term in nature. During 2015, in order to manage interest rate risk arising from these financial assets, the Company entered into interest rate swaps to receive a fixed rate of interest and pay a variable rate of interest. These derivatives were designated as hedging instruments at December 31, 2016 and December 31, 2015 and had total notional amounts of $300 million and fair values of nil for each period, respectively. Foreign Currency Risk Some of our non-U.S. subsidiaries receive revenues and incur expenses in currencies other than their functional currency and as a result, the foreign subsidiary’s functional currency revenues will fluctuate as the currency rates change. Additionally, the forecast Pounds sterling expenses of our London brokerage market operations may exceed their Pounds sterling revenues, and they may also hold a significant net Pounds sterling asset or liability position in the balance sheet. To reduce the variability, we use foreign exchange forward contracts to hedge this foreign exchange risk. These derivatives were designated as hedging instruments and as of December 31, 2016 and December 31, 2015 had a total notional amount of $945 million and $1.2 billion, respectively, and net fair value liabilities of $110 million and $28 million, respectively. At December 31, 2016, the Company estimates, based on current interest and exchange rates, there will be $64 million of net derivative losses on forward exchange rates, interest rate swaps, and treasury locks reclassified from accumulated comprehensive income into earnings within the next 12 months as the forecast transactions affect earnings. At December 31, 2016, our longest outstanding maturity was 2.5 years. The material effects of derivative instruments that are designated as hedging instruments on the consolidated statements of operations for the years ended December 31, 2016, 2015 and 2014 are as follows:
We also enter into foreign currency transactions, primarily to hedge certain intercompany loans. These derivatives are not generally designated as hedging instruments and at December 31, 2016 and December 31, 2015 we had notional amounts of $630 million and $574 million, and net fair value liabilities of $8 million, and $3 million, respectively, for each of the years then ended. The effects of derivatives that have not been designated as hedging instruments on the consolidated statements of operations for the three years ended December 31, 2016 are immaterial. |
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- References No definition available.
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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Debt |
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Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt | Debt Short-term debt and current portion of long-term debt consists of the following:
Long-term debt consists of the following:
Guarantees All direct obligations under the 6.200% and 7.000% senior notes are issued by Willis North America Inc. and guaranteed by Willis Towers Watson, Willis Netherlands Holdings B.V., Willis Investment U.K. Holdings Limited, TA I Limited, Trinity Acquisition plc, Willis Group Limited, Willis Towers Watson Sub Holdings Unlimited Company and WTW Bermuda Holdings Ltd. See Note 21 — Financial Information for Parent Guarantor, Other Guarantor Subsidiaries and Non-Guarantor Subsidiaries . All direct obligations under the 4.125% (repaid during 2016) and 5.750% senior notes are issued by the Company and guaranteed by Trinity Acquisition plc, Willis Netherlands Holdings B.V., Willis Investment U.K. Holdings Limited, TA I Limited, Willis North America Inc., Willis Group Limited, Willis Towers Watson Sub Holdings Unlimited Company and WTW Bermuda Holdings Ltd. See Note 22 — Financial Information for Parent Issuer, Guarantor Subsidiaries and Non-Guarantor Subsidiaries. All direct obligations under the 4.625%, 6.125%, 3.500%, 4.400%, and 2.125% senior notes are issued by Trinity Acquisition plc guaranteed by Willis Towers Watson, Willis Netherlands Holdings B.V., Willis Investment U.K. Holdings Limited, TA I Limited, Willis North America Inc., Willis Group Limited, Willis Towers Watson Sub Holdings Unlimited Company and WTW Bermuda Holdings, Ltd. See Note 23 — Financial Information for Issuer, Parent Guarantor, Other Guarantor Subsidiaries and Non-Guarantor Subsidiaries. Senior Notes On May 26, 2016, Trinity Acquisition plc issued €540 million ($609 million) of 2.125% senior notes due 2022 (‘2022 senior notes’). The 2022 senior notes are fully and unconditionally guaranteed by Willis Towers Watson. The effective interest rate of these senior notes is 2.154%, which includes the impact of the discount upon issuance. The 2022 senior notes will mature on May 26, 2022. Interest accrues on the notes from May 26, 2016 and will be paid in cash on May 26 of each year. The net proceeds from this offering, after deducting underwriter discounts and commissions and estimated offering expenses, were €535 million ($600 million). We used the net proceeds of this offering to repay Tranche A of the 1-year term loan and related accrued interest. On March 22, 2016, Trinity Acquisition plc issued $450 million of 3.500% senior notes due 2021 (‘2021 senior notes’) and $550 million of 4.400% senior notes due 2026 (‘2026 senior notes’). The 2021 senior notes and the 2026 senior notes are fully and unconditionally guaranteed by the Company. The effective interest rates of these senior notes are 3.707% and 4.572%, respectively, which includes the impact of the discount upon issuance. The 2021 senior notes and the 2026 senior notes will mature on September 15, 2021 and March 15, 2026, respectively. Interest accrues on the notes from March 22, 2016 and will be paid in cash on March 15 and September 15 of each year. The net proceeds from this offering, after deducting underwriter discounts and commissions and estimated offering expenses, were $988 million. We used the net proceeds of this offering as follows: to repay $300 million principal under our $800 million revolving credit facility and related accrued interest, which was drawn to repay our 4.125% senior notes on March 15, 2016; to repay $400 million principal on Tranche B under our 1-year term loan facility and related accrued interest; and to pay down a portion of the remaining principal amount outstanding under our $800 million revolving credit facility and related accrued interest. On August 15, 2013, the Company issued $250 million of 4.625% senior notes due 2023 and $275 million of 6.125% senior notes due 2043. The effective interest rates of these senior notes are 4.696% and 6.154%, respectively, which include the impact of the discount upon issuance. The proceeds were used to repurchase other previously issued senior notes. In March 2011, the Company issued $300 million of 4.125% senior notes due 2016 and $500 million of 5.750% senior notes due 2021. The effective interest rates of these senior notes are 4.240% and 5.871%, respectively, which include the impact of the discount upon issuance. The proceeds were used to repurchase and redeem other previously issued senior notes. As noted above, the 4.125% senior notes were repaid in March 2016. In September 2009, Willis North America Inc. issued $300 million of 7.000% senior notes due 2019. The effective interest rates of these senior notes are 7.081%, which include the impact of the discount upon issuance. A portion of the proceeds were used to repurchase and redeem other previously issued senior notes. In August 2013, $113 million of the 7.000% senior notes due 2019 were repurchased. On March 28, 2007, we issued $600 million of 10 year senior notes at 6.200%. We used the proceeds of the notes to fund share buybacks and to repay the then outstanding borrowings of $200 million under our revolving credit facility. The effective interest rate of these senior notes is 6.253%. In August 2013, $206 million of the 6.200% senior notes were repurchased. $800 million revolving credit facility Drawings under the $800 million revolving credit facility (‘RCF’) bear interest at LIBOR plus a margin of 1.25% to 2.00%, or alternatively the base rate plus a margin of 0.25% to 1.00% based upon the Company’s guaranteed senior unsecured long-term debt rating; a 1.375% margin applies while the Company’s debt rating remains BBB/Baa3. As of December 31, 2016 and December 31, 2015, $238 million and $467 million was outstanding under this revolving credit facility, respectively. 7-year term loan facility The 7-year term loan facility expiring 2018 bears interest at the same rate applicable to the $800 million revolving credit facility and is repayable in quarterly installments of $6 million with a final repayment of $186 million due in the third quarter of 2018. 1-year term loan facility On November 20, 2015, Legacy Willis entered into a 1-year term loan facility. The 1-year term loan had two tranches: Tranche A was for €550 million, of which €544 million ($592 million) was drawn on December 19, 2015 and used to finance the acquisition of Gras Savoye. Tranche B was for $400 million and was drawn on January 4, 2016 and used to re-finance debt held by Legacy Towers Watson which became due on acquisition. Tranche A was repaid in its entirety on May 26, 2016 from the proceeds from the issuance of our 2022 senior notes discussed above. Tranche B was repaid in its entirety on March 22, 2016 from a portion of the proceeds from the issuance of our senior notes discussed above. The amount outstanding as of December 31, 2015 was $592 million, gross of $5 million in debt fees related to the 1-year term loan facility. WSI revolving credit facility Willis Securities Inc. (‘WSI’) is permitted to incur up to $400 million in indebtedness under the $800 million revolving credit facility held by Trinity Acquisition plc and has the ability to borrow in Euro, Japanese yen and other approved currencies subject to a reserve for foreign currency fluctuation. Proceeds under the credit facility may be used for regulatory capital purposes related to securities underwriting only, which allows WSI to meet or exceed capital requirements of regulatory agencies, self-regulatory agencies and their clearing houses, including the Financial Industry Regulatory Authority. Advances under the WSI revolving credit facility bear interest at a rate equal to LIBOR plus a margin of 1.25% to 2.00%, or alternatively the base rate plus a margin of 0.25% to 1.00%, based upon the Company’s guaranteed senior-unsecured long-term debt rating. A margin of 1.50% applies while the Company’s debt rating remains BBB/Baa3. As of December 31, 2016 and 2015, there were no borrowings outstanding under the WSI revolving credit facility. On April 27, 2016, the end date of the credit period was extended to April 28, 2017 and the repayment date was extended to April 28, 2018. There were no other significant changes in the terms of this credit facility. The agreements relating to the $800 million revolving credit facility, the 7-year term loan facility, and the 1-year term loan contain requirements that we are not to exceed certain levels of consolidated funded indebtedness in relation to consolidated EBITDA and we are to maintain at least a minimum level of consolidated EBITDA to consolidated cash interest expense, subject to certain adjustments. In addition, the agreements relating to our facilities and senior notes include, in the aggregate, covenants relating to the delivery of financial statements, reports and notices, limitations on liens, limitations on sales and other disposals of assets, limitations on indebtedness and other liabilities, limitations on sale and leaseback transactions, limitations on mergers and other fundamental changes, maintenance of property, maintenance of insurance, nature of business, compliance with applicable laws, maintenance of corporate existence and rights, payment of taxes and access to information and properties. At December 31, 2016 and December 31, 2015, we were in compliance with all financial covenants. Term Loan Due December 2019 On January 4, 2016, we acquired a $340 million term loan in connection with the Merger. On November 20, 2015, Towers Watson Delaware Inc. entered into a four-year amortizing term loan agreement for up to $340 million with a consortium of banks to help fund the pre-Merger special dividend. On December 28, 2015, Towers Watson Delaware Inc. borrowed the full $340 million. The interest rate on the term loan is based on the Company’s choice of one, two, three or six-month LIBOR plus a spread of 1.25% to 1.75%, or alternatively the bank base rate plus 0.25% to 0.75%. The spread to each index is dependent on the Company’s consolidated leverage ratio. The weighted-average interest rate on this term loan for the year ended December 31, 2016 was 1.83%. The term loan amortizes at a rate of $21 million per quarter, beginning in March 2016, with a final maturity date of December 2019. The Company has the right to prepay a portion or all of the outstanding term loan balance on any interest payment date without penalty. At December 31, 2016, the balance outstanding on the term loan was $255 million, before reduction of $1 million in debt issuance fees. Covenants The terms of our current financings also include certain limitations. For example, the agreements relating to the debt arrangements and credit facilities generally contain numerous operating and financial covenants, including requirements to maintain minimum ratios of consolidated EBITDA to consolidated cash interest expense and maximum levels of consolidated funded indebtedness in relation to consolidated EBITDA, in each case subject to certain adjustments. The operating restrictions and financial covenants in our credit facilities do, and any future financing agreements may, limit our ability to finance future operations or capital needs or to engage in other business activities. Debt Maturity The following table summarizes the maturity of our debt, interest on senior notes and excludes any reduction for debt issuance costs:
Interest Expense The following table shows an analysis of the interest expense for the years ended December 31:
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- References No definition available.
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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Fair Value Measurements |
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Fair Value Measurements | Fair Value Measurements The Company has categorized its assets and liabilities that are measured at fair value on a recurring and non-recurring basis into a three-level fair value hierarchy, based on the reliability of the inputs used to determine fair value as follows:
The following methods and assumptions were used by the Company in estimating its fair value disclosure for financial instruments: Market values for our derivative instruments have been used to determine the fair value of interest rate swaps and forward foreign exchange contracts based on estimated amounts the Company would receive or have to pay to terminate the agreements, taking into account the current interest rate environment or current foreign currency forward rates. Such financial instruments are classified as Level 2 in the fair value hierarchy. Available-for-sale securities are classified as Level 1 because we use quoted market prices in determining the fair value of these securities. Contingent consideration payable is classified as Level 3 and we estimate fair value based on the likelihood and timing of achieving the relevant milestones of each arrangement, applying a probability assessment to each of the potential outcomes, and discounting the probability-weighted payout. Typically, milestones are based on revenue or EBITDA growth for the acquired business. The following presents our assets and liabilities measured at fair value on a recurring basis at December 31, 2016 and December 31, 2015:
The following table summarizes the change in fair value of the Level 3 liabilities:
There were no significant transfers between Levels 1, 2 or 3 in the fiscal years ended December 31, 2016 and 2015. Fair value information about financial instruments not measured at fair value The following presents our liabilities not measured at fair value on a recurring basis at December 31, 2016 and 2015:
The carrying values of our revolving lines of credit and term loans approximate their fair values. The fair values above are not necessarily indicative of the amounts that the Company would realize upon disposition nor do they indicate the Company’s intent or ability to dispose of the financial instrument. The fair value of our senior notes are considered level 2 financial instruments as they are corroborated by observable market data. |
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- References No definition available.
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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Retirement Benefits |
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Compensation and Retirement Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retirement Benefits | Retirement Benefits Defined Benefit Plans and Post-retirement Welfare Plans Willis Towers Watson sponsors both qualified and non-qualified defined benefit pension plans and other post-retirement welfare plans (‘PRW’) plans throughout the world. The majority of our plan assets and obligations are in the United States and the United Kingdom. We have also included disclosures related to defined benefit plans in certain other countries, which includes Canada, Germany, Ireland and the Netherlands. Together, these disclosed funded and unfunded plans represented 99% of Willis Towers Watson’s pension and PRW obligations and plan assets and are disclosed herein for the 2016 disclosures. On January 4, 2016, in connection with the Merger, we acquired additional defined benefit pension, PRW, and defined contribution plans. Total plan assets of approximately $3.7 billion and projected benefit obligations of approximately $4.6 billion were acquired. The funded status for each of the acquired plans has been included in the values of identifiable assets acquired, and liabilities assumed in Note 3 — Merger and Acquisitions and are recorded as $67 million in pension benefits assets and $923 million in liability for pension benefits. As part of these obligations, in the United States, the United Kingdom and Canada, we have non-qualified plans that provide for the additional pension benefits that would be covered under the qualified plan in the respective country were it not for statutory maximums. The non-qualified plans are unfunded. Certain prior year amounts have been reclassified between the presentation groupings of ‘U.S.’, ‘U.K.’ and ‘Other’ to conform to current year presentation. The significant plans within each grouping are described below: United States Legacy Willis – This plan covers approximately one third of the Legacy Willis employees in the United States and is now frozen with no new entrants nor future accruals. Legacy Towers Watson – This plan covers substantially all Legacy Towers Watson U.S. employees, with the exception of certain employees of our Exchange Solutions segment. Prior to December 31, 2010, employees earned benefits under their original plan formulas, which were frozen on December 31, 2011. Beginning January 1, 2012, all Legacy Towers Watson employees, including named executive officers, accrue qualified and non-qualified benefits under a stable value pension design. 2017 Changes – The Legacy Towers Watson plan’s current non-contributory stable value formula is not available to employees hired or rehired on or after January 1, 2017. Beginning July 1, 2017, Legacy Towers Watson employees participating in the Plan will accrue benefits under a new non-contributory stable value pension formula. Also beginning July 1, 2017, the Plan will cover newly eligible employees, including employees hired on or after January 1, 2017, and employees from Legacy Willis and the Exchange Solutions segment, who elect to participate (who do not ‘opt out’) under a new contributory stable value pension formula. United Kingdom Legacy Willis – This plan covers approximately one third of the Legacy Willis employees in the United Kingdom. The plan is now closed to new entrants. New employees in the United Kingdom are offered the opportunity to join a defined contribution plan. Legacy Towers Watson – Benefit accruals earned under the Legacy Watson Wyatt defined benefit plan (predominantly pension benefits) ceased on February 28, 2015, although benefits earned prior to January 1, 2008 retain a link to salary until the employee leaves the Company. Benefit accruals earned under the legacy Towers Perrin defined benefit plan (predominantly lump sum benefits) were frozen on March 31, 2008. All participants now accrue defined contribution benefits. Legacy Miller – The plan provides retirement benefits based on members’ salaries at the point at which they ceased to accrue benefits under the scheme. Other Canada (Legacy Towers Watson) – Participants accrue qualified and non-qualified benefits based on a career average benefit formula. Additionally, participants can choose to make voluntary contributions to purchase enhancements to their pension. 2017 Canada Changes – Effective January 1, 2017, the Legacy Towers Watson Canada plan was amended with respect to future benefit accruals. The ancillary benefits were reduced for all members and the benefit formula was reduced for members joining on or after January 1, 2017. Additionally on January 1, 2017, the Legacy Willis employees in Canada joined the plan and will accrue qualified and non-qualified benefits based on a career average benefit formula. France (Legacy Gras Savoye) – The mandatory retirement indemnity plan is a termination benefit which provides lump sum benefits at retirement. There is no vesting before the retirement date and the benefit formula is determined through the collective bargaining agreement and the labor code. All employees with permanent employment contracts are eligible. Germany (Legacy Willis) –The defined benefit plan population consists of retirees receiving annuities and two participants with deferred vested benefits. Other employees and former employees participate in defined contribution arrangements. Germany (Legacy Towers Watson) – Effective January 1, 2011, all new participants participate in a defined contribution plan. Participants hired prior to this date continue to participate in various defined contribution and defined benefit arrangements according to legacy plan formulas. The legacy defined benefit plans are primarily account-based, with some long-service participants continuing to accrue benefits according to grandfathered final-average-pay formulas. Ireland (Legacy Willis) – The defined benefit plans provide pension benefits for approximately one third of legacy Willis employees in Ireland. The defined benefit plans are now closed to new entrants. Ireland (Legacy Towers Watson) – Benefit accruals earned under the scheme’s defined benefit plan ceased on May 1, 2015. Benefits earned prior to this date retain a link to salary until the employee leaves the Company. Netherlands (Legacy Towers Watson) – Benefits under the plan used to accrue on a final pay basis on earnings up to a maximum amount each year. The benefit accrual under the final pay plan stopped at December 31, 2010. The accrued benefits will receive conditional indexation each year. Post-retirement Welfare Plan We provide certain healthcare and life insurance benefits for retired participants. The principal plans cover participants in the U.S. who have met certain eligibility requirements. Our principal post-retirement benefit plans are primarily unfunded. Retiree medical benefits provided under our U.S. post-retirement benefit plans were closed to new hires effective January 1, 2011. Life insurance benefits under the plans were frozen with respect to service, eligibility and amounts as of January 1, 2012 for active participants. Amounts Recognized in our Consolidated Financial Statements The following schedules provide information concerning the defined benefit pension plans and PRW plan as of and for the years ended December 31 2016 and 2015:
Amounts recognized in accumulated other comprehensive loss as of December 31, 2016 and 2015 consist of:
The following table presents the projected benefit obligation and fair value of plan assets for our plans that have a projected benefit obligation in excess of plan assets as of December 31, 2016 and 2015:
The following table presents the projected benefit obligation, accumulated benefit obligation and fair value of plan assets for our plans that have an accumulated benefit obligation in excess of plan assets as of December 31, 2016 and 2015.
The components of the net periodic benefit income and other amounts recognized in other comprehensive (income)/loss for the years ended December 31, 2016, 2015 and 2014 for the defined benefit plans and PRW plan are as follows:
During fiscal year 2016, WTW adopted the granular approach to calculating service and interest cost. This was treated as a change in accounting estimate, and resulted in a credit of $51 million included in our total net periodic benefit income reflected above. On March 6, 2015, Legacy Willis announced to members of the U.K. defined benefit pension plan that with effect from June 30, 2015, future salary increases would not be pensionable (the ‘salary freeze’). Legacy Willis recognized the salary freeze as a plan amendment at the announcement date. The impact of the salary freeze reduced the plan’s projected benefit obligation by approximately $215 million and created a prior service credit which is recognized in other comprehensive income and then amortized to the consolidated statement of operations over the remaining expected service life of active employees. The estimated net actuarial loss and prior service cost for the defined benefit plans that will be amortized from accumulated other comprehensive loss into net periodic benefit cost over the next fiscal year are:
Assumptions Used in the Valuations of the Defined Benefit Pension Plans and PRW Plan The determination of the Company’s obligations and annual expense under the plans is based on a number of assumptions that, given the longevity of the plans, are long-term in focus. A change in one or a combination of these assumptions could have a material impact on our projected benefit obligation. However, certain of these changes, such as changes in the discount rate and actuarial assumptions, are not recognized immediately in net income, but are instead recorded in other comprehensive income. The accumulated gains and losses not yet recognized in net income are amortized into net income as a component of the net periodic benefit cost/(credit) generally based on the average working life expectancy of the plan’s active participants to the extent that the net gains or losses as of the beginning of the year exceed 10% of the greater of the market-related value of plan assets or the projected benefit obligation. The average remaining service period of participants for the PRW plan is approximately 9.5 years. The Company considers several factors prior to the start of each fiscal year when determining the appropriate annual assumptions, including economic forecasts, relevant benchmarks, historical trends, portfolio composition and peer company comparisons. These assumptions, used to determine our pension liabilities and pension expense, are reviewed annually by senior management and changed when appropriate. The discount rate will be changed annually if underlying rates have moved, whereas the expected long-term return on assets will be changed less frequently as longer term trends in asset returns emerge or long-term target asset allocations are revised. To calculate the discount rate, we use the granular approach to determining service and interest costs. The expected rate of return assumptions for all plans are supported by an analysis of the weighted-average yield expected to be achieved based upon the anticipated makeup of the plans’ investments. Other material assumptions include rates of participant mortality, and the expected long-term rate of compensation and pension increases. The following assumptions were used in the valuations of Willis Towers Watson’s defined benefit pension plans and PRW plan. The assumptions presented for the U.S. plans represent the weighted-average of rates for all U.S. plans. The assumptions presented for the U.K. plans represent the weighted-average of rates for the U.K. plans. The assumptions presented for the Other plans represent the weighted-average of rates for the Canada, France, Germany, Ireland, and Netherlands plans. The assumptions used to determine net periodic benefit cost for the fiscal years ended December 31, 2016, 2015 and 2014 were as follows:
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The following table presents the assumptions used in the valuation to determine the projected benefit obligation for the fiscal years ended December 31, 2016 and 2015:
A one percentage point change in the assumed healthcare cost trend rates would have an immaterial effect on the post-retirement benefit cost and obligation as of December 31, 2016. The expected return on plan assets was determined on the basis of the weighted-average of the expected future returns of the various asset classes, using the target allocations shown below. The Company’s pension plan asset target allocations as of December 31, 2016 were as follows:
The Legacy Willis plan in Germany and the Legacy Towers Watson plan in the Netherlands are invested in insurance contracts. Consequently, the asset allocations of the plans are managed by the insurer. The Legacy Gras Savoye plan in France is unfunded. Our investment strategy is designed to generate returns that will reduce the interest rate risk inherent in each of the plan’s benefit obligations and enable the plans to meet their future obligations. The precise amount for which these obligations will be settled depends on future events, including the life expectancy of the plan participants and salary inflation. The obligations are estimated using actuarial assumptions, based on the current economic environment. Each pension plan seeks to achieve total returns sufficient to meet expected future obligations when considered in conjunction with expected future contributions and prudent levels of investment risk and diversification. Each plan’s targeted asset allocation is generally determined through a plan-specific Asset-Liability Modeling study. These comprehensive studies provide an evaluation of the projected status of asset and benefit obligation measures for each plan under a range of both positive and negative environments. The studies include a number of different asset mixes, spanning a range of diversification and potential equity exposures. In evaluating the strategic asset allocation choices, an emphasis is placed on the long-term characteristics of each individual asset class, such as expected return, volatility of returns and correlations with other asset classes within the portfolios. Consideration is also given to the proper long-term level of risk for each plan, the impact of the volatility and magnitude of plan contributions and costs, and the impact that certain actuarial techniques may have on the plan’s recognition of investment experience. We monitor investment performance and portfolio characteristics on a quarterly basis to ensure that managers are meeting expectations with respect to their investment approach. There are also various restrictions and controls placed on managers, including prohibition from investing in our stock. Fair Value of Plan Assets The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value:
The fair values of our U.S. plan assets by asset category at December 31, 2016 and 2015 are as follows:
The fair values of our U.K. plan assets by asset category at December 31, 2016 and 2015 are as follows:
The fair values of our Other plan assets by asset category at December 31, 2016 and 2015 are as follows:
Our PRW plan invests only in short-term investments and mutual funds and is not included within this fair value hierarchy table. We evaluate the need to transfer between levels based upon the nature of the financial instrument and size of the transfer relative to the total net assets of the plans. There were no significant transfers between Levels 1, 2 or 3 in the fiscal years ended December 31, 2016 and 2015. In accordance with Subtopic 820-10, Fair Value Measurement and Disclosures, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in these tables are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statements of net assets. See the description of ASU 2015-07 in Note 2 - Basis of Presentation and Significant Accounting Policies, which notes the adoption of this practical expedient for the presentation of our pension plan investments in the fair value hierarchy tables included above, and the retrospective application to comparative periods. Following is a description of the valuation methodologies used for investments at fair value: Short-term securities: Valued at the net value of shares held by the Company at year end as reported by the sponsor of the funds. Equity securities and Mutual Funds: Valued at the closing price reported on the active market on which the individual securities are traded. Exchange traded mutual funds are included as level 1 above. Government bonds: Valued at the closing price reported in the active market in which the bond is traded. Corporate bonds: Valued using pricing models maximizing the use of observable inputs for similar securities. This includes basing value on yields currently available on comparable securities of issuers with similar credit ratings. Other Fixed Income: Foreign and municipal bonds are valued at the closing price reported in the active market in which the bond is traded. Pooled / Commingled Funds and Mutual Funds: Valued at the net value of shares held by the Company at year end as reported by the manager of the funds. These funds are not exchange traded and are not reported by level in the tables above. Derivative investments: Valued at the closing level of the relevant index or security and interest accrual through the valuation date. Private equity funds, Real estate funds, Hedge funds: The fair value for these investments is estimated based on the net asset value derived from the latest audited financial statements or most recent capital account statements provided by the private equity fund’s investment manager or third-party administrator. Insurance contracts: The fair values are determined using model-based techniques that include option-pricing models, discounted cash flow models and similar techniques. The following table reconciles the net plan investments to the total fair value of the plan assets:
Level 3 investments As a result of the inherent limitations related to the valuations of the Level 3 investments, due to the unobservable inputs of the underlying funds, the estimated fair value may differ significantly from the values that would have been used had a market for those investments existed. The following table sets forth a summary of changes in the fair value of the plans’ Level 3 assets for the fiscal year ended December 31, 2016:
Contributions and Benefit Payments Funding is based on actuarially determined contributions and is limited to amounts that are currently deductible for tax purposes. Since funding calculations are based on different measurements than those used for accounting purposes, pension contributions are not equal to net periodic pension costs. The following table sets forth our projected pension contributions to our qualified plans for fiscal year 2017, as well as the pension contributions to our qualified plans in fiscal years 2016 and 2015:
Expected benefit payments from our defined benefit pension plans to current plan participants, including the effect of their expected future service, as appropriate, are as follows:
Defined Contribution Plan We have defined contribution plans covering eligible employees in many countries. The most significant plans are in the U.S. and U.K. and are described here. Legacy Willis has a 401(k) plan covering all eligible employees of Legacy Willis U.S. and its subsidiaries. The plan allows participants to make pre-tax contributions which the Company, at its discretion, may match. All investment assets of the plan are held in a trust account administered by independent trustees. The Legacy Towers Watson U.S. Defined Contribution Plan allows eligible Towers Watson U.S. employees to participate in a savings plan design that provides for 100% match on the first 2% of employee contributions and 50% match on the next 4% of employee contributions. Employees vest in the employer match upon two years of service. The Legacy Towers Watson U.K. pension plan has a money purchase feature to which we make core contributions plus additional contributions matching those of the participants up to a maximum rate. Contribution rates depend on the age of the participant and whether or not they arise from salary sacrifice arrangements through which the participant has elected to receive a pension contribution in lieu of additional salary. The Company’s expenses related to its defined contribution plans for the years ended December 31, 2016, 2015 and 2014 amounted to $152 million, $77 million and $70 million. |
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- Definition The entire disclosure for pension and other postretirement benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments and Contingencies |
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Commitments and Contingencies | Commitments and Contingencies Operating Leases The Company leases certain land, building and equipment under various operating lease commitments. The total amount of the minimum rent is expensed on a straight-line basis over the term of the lease. Rental expenses and sub-lease rental income for operating leases are recorded as part of other operating expenses in the consolidated statements of operations. Rental expense, exclusive of sublease income, was $302 million, $142 million, and $134 million for the years ended December 31, 2016, 2015 and 2014, respectively. We have entered into sublease agreements for some of our excess leased space. Sublease income was $17 million, $17 million, and $13 million for the years ended December 31, 2016, 2015 and 2014, respectively. As of December 31, 2016, the aggregate future minimum rental commitments under all non-cancellable operating lease agreements are as follows:
Guarantees Guarantees issued by certain of Willis Towers Watson’s subsidiaries with respect to the senior notes and revolving credit facilities are discussed in Note 10 — Debt. Certain of Willis Towers Watson’s subsidiaries have given the landlords of some leasehold properties occupied by the Company in the United Kingdom and the United States guarantees in respect of the performance of the lease obligations of the subsidiary holding the lease. The operating lease obligations subject to such guarantees amounted to $558 million and $676 million at December 31, 2016 and 2015, respectively. The capital lease obligations subject to such guarantees amounted to $9 million and $10 million as of December 31, 2016 and 2015, respectively. Acquisition liabilities The Company has deferred and contingent consideration due to be paid on existing acquisitions until 2019 totaling $142 million at December 31, 2016. Most notably, our liability for the acquisition of Miller Insurance Services LLP in May 2015, for which deferred and contingent consideration, including interest, was $95 million at December 31, 2016. Total deferred and contingent consideration paid during the year ended December 31, 2016 was $67 million. Other contractual obligations For certain subsidiaries and associates, the Company has the right to purchase shares (a call option) from co-shareholders at various dates in the future. In addition, the co-shareholders of certain subsidiaries and associates have the right to sell their shares (a put option) to the Company at various dates in the future. Generally, the exercise price of such put options and call options is formula-based (using revenues and earnings) and is designed to reflect fair value. Based on current projections of profitability and exchange rates, and assuming the put options are exercised, the potential amount payable from these options is not expected to exceed $73 million. In July 2010, the Company made a capital commitment of $25 million to Trident V Parallel Fund, LP, an investment fund managed by Stone Point Capital. This replaced a capital commitment of $25 million that had been made to Trident V, LP in December 2009. As of December 31, 2016 there have been approximately $23 million of capital contributions. In May 2011, the Company made a capital commitment of $10 million to Dowling Capital Partners I, LP. As of December 31, 2016 there had been approximately $8 million of capital contributions. Other contractual obligations at December 31, 2016 and 2015, include certain capital lease obligations totaling $54 million and $59 million, respectively, primarily in respect of the Company’s Nashville property. On October 1, 2015, Legacy Towers Watson made a capital commitment of $40 million to Longitude Holdings Limited in exchange for 48,322 common shares outstanding representing 24.2% of outstanding equity ownership. As of December 31, 2016, approximately $5 million of capital contributions had been made towards this commitment. Indemnification Agreements Willis Towers Watson has various agreements which provide that it may be obligated to indemnify the other party to the agreement with respect to certain matters. Generally, these indemnification provisions are included in contracts arising in the normal course of business and in connection with the purchase and sale of certain businesses. Although it is not possible to predict the maximum potential amount of future payments that may become due under these indemnification agreements because of the conditional nature of Willis Towers Watson’s obligations and the unique facts of each particular agreement, Willis Towers Watson does not believe any potential liability that might arise from such indemnity provisions is probable or material. There are no provisions for recourse to third parties, nor are any assets held by any third parties that any guarantor can liquidate to recover amounts paid under such indemnities. Legal Proceedings In the ordinary course of business, the Company is subject to various actual and potential claims, lawsuits, and other proceedings. Some of the claims, lawsuits and other proceedings seek damages in amounts which could, if assessed, be significant. We do not expect the impact of claims or demands not described below to be material to the Company’s consolidated financial statements. The Company also receives subpoenas in the ordinary course of business and, from time to time, receives requests for information in connection with governmental investigations. Errors and omissions claims, lawsuits, and other proceedings arising in the ordinary course of business are covered in part by professional indemnity or other appropriate insurance. See Note 14 for the amounts accrued at December 31, 2016 and 2015 in the consolidated balance sheets. The terms of this insurance vary by policy year. Regarding self-insured risks, the Company has established provisions which are believed to be adequate in the light of current information and legal advice, or, in certain cases, where a range of loss exists, the Company accrues the minimum amount in the range if no amount within the range is a better estimate than any other amount. The Company adjusts such provisions from time to time according to developments. On the basis of current information, the Company does not expect that the actual claims, lawsuits and other proceedings to which the Company is subject, or potential claims, lawsuits, and other proceedings relating to matters of which it is aware, will ultimately have a material adverse effect on the Company’s financial condition, results of operations or liquidity. Nonetheless, given the large or indeterminate amounts sought in certain of these actions, and the inherent unpredictability of litigation and disputes with insurance companies, it is possible that an adverse outcome or settlement in certain matters could, from time to time, have a material adverse effect on the Company’s results of operations or cash flows in any particular quarterly or annual periods. The Company provides for contingent liabilities based on ASC 450, Contingencies, when it is determined that a liability, inclusive of defense costs, is probable and reasonably estimable. Unasserted claims reserves are primarily developed actuarially. Litigation is subject to many factors which are difficult to predict so there can be no assurance that in the event of a material unfavorable result in one or more claims, we will not incur material costs. In re Towers Watson & Co. Stockholders Litigation Five putative class action complaints challenging the Merger were filed in the Court of Chancery for the State of Delaware, captioned New Jersey Building Laborers’ Statewide Annuity Fund v. Towers Watson & Co., et al., C.A. No. 11270-CB (filed on July 9, 2015), Stein v. Towers Watson & Co., et al., C.A. No. 11271-CB (filed on July 9, 2015), City of Atlanta Firefighters’ Pension Fund v. Ganzi, et al., C.A. No. 11275-CB (filed on July 10, 2015), Cordell v. Haley, et al., C.A. No. 11358-CB (filed on July 31, 2015), and Mills v. Towers Watson & Co., et al., C.A. No. 11423-CB (filed on August 24, 2015). The Stein action was voluntarily dismissed on July 28, 2015. These complaints were filed by purported stockholders of Towers Watson on behalf of a putative class comprised of all Towers Watson stockholders. The complaints sought, among other things, to enjoin the Merger, and generally alleged that Towers Watson’s directors breached their fiduciary duties to Towers Watson stockholders by agreeing to merge Towers Watson with Willis through an inadequate and unfair process, which led to inadequate and unfair consideration, and by agreeing to unfair deal protection devices. The complaints also alleged that Willis and the Merger Sub formed for purposes of consummating the Merger aided and abetted the alleged breaches of fiduciary duties by Towers Watson directors. On August 17, 2015, the court consolidated the New Jersey Building Laborers’ Statewide Annuity Fund, City of Atlanta Firefighters’ Pension Fund, and Cordell actions (the Mills action had not yet been filed) and any other actions then pending or thereafter filed arising out of the same issues of fact under the caption In re Towers Watson & Co. Stockholders Litigation, Consolidated C.A. No. 11270-CB. On September 9, 2015, the plaintiffs in the consolidated action and in Mills filed a consolidated amended complaint, which, among other things, added claims for alleged misstatements and omissions from a preliminary proxy statement and prospectus for the Merger dated August 27, 2015. On September 17, 2015, plaintiffs filed a motion for expedited proceedings and a motion for a preliminary injunction, which motions plaintiffs voluntarily withdrew on October 19, 2015. On December 14, 2015, the defendants filed motions to dismiss the consolidated amended complaint. On April 1, 2016, the court consolidated the Mills action into the consolidated action. On April 18, 2016, the court dismissed the consolidated action as moot, set a briefing schedule for plaintiffs’ application for an award of attorneys’ fees and reimbursement of expenses, and scheduled a hearing on plaintiffs’ fee and expense application for June 28, 2016. On April 27, 2016, plaintiffs filed a petition for an award of attorneys’ fees and expenses, requesting an aggregate fee and expense award of at least $1.7 million. On June 8, 2016, defendants filed their opposition to the petition. After negotiations, the parties agreed in principle to resolve the petition for a payment of $250,000 to plaintiffs’ counsel by the Company. On July 29, 2016, the court entered a proposed order submitted by the parties closing the consolidated action for all purposes. Merger-related Appraisal demands Between November 12, 2015 and December 10, 2015, in connection with the then-proposed Merger, Towers Watson received demands for appraisal under Section 262 of the Delaware General Corporation Law on behalf of ten purported beneficial owners of an aggregate of approximately 2.4% of the shares of Towers Watson common stock outstanding at the time of the Merger. Between March 3, 2016 and March 23, 2016, three appraisal petitions were filed in the Court of Chancery for the State of Delaware on behalf of three purported beneficial owners of an aggregate of 1,354,338 shares of Towers Watson common stock, captioned Rangeley Capital LLC v. Towers Watson & Co., C.A. No. 12063-CB, Merion Capital L.P. v. Towers Watson & Co., C.A. No. 12064-CB, and College Retirement Equities Fund v. Towers Watson & Co., C.A. No. 12126-CB. The appraisal petitions seek, among other things, a determination of the fair value of the appraisal petitioners’ shares at the time of the Merger; an order that Towers Watson pay that value to the appraisal petitioners, together with interest at the statutory rate; and an award of costs, attorneys’ fees, and other expenses. Towers Watson answered the appraisal petitions between March 24, 2016 and April 18, 2016. On May 9, 2016, the court consolidated the three pending appraisal proceedings under the caption In re Appraisal of Towers Watson & Co., Consolidated C.A. No. 12064-CB. Based on all of the information to date, the Company is currently unable to estimate what the court would determine, following trial, to be the fair value of the appraisal petitioners; shares. It is possible that the court could determine that fair value was the same as, less than or greater than the value received by shareholders in the Merger. Therefore we are unable to provide an estimate of the reasonably possible loss or range of loss as to such value. The Company intends to vigorously defend against the appraisal proceedings. Stanford Financial Group The Company has been named as a defendant in 15 similar lawsuits relating to the collapse of The Stanford Financial Group (‘Stanford’), for which Willis of Colorado, Inc. acted as broker of record on certain lines of insurance. The complaints in these actions generally allege that the defendants actively and materially aided Stanford’s alleged fraud by providing Stanford with certain letters regarding coverage that they knew would be used to help retain or attract actual or prospective Stanford client investors. The complaints further allege that these letters, which contain statements about Stanford and the insurance policies that the defendants placed for Stanford, contained untruths and omitted material facts and were drafted in this manner to help Stanford promote and sell its allegedly fraudulent certificates of deposit. The 15 actions are as follows:
On May 10, 2011, the court presiding over the Stanford-related actions in the Northern District of Texas entered an order providing that it would consider the applicability of SLUSA to the Stanford-related actions based on the decision in a separate Stanford action not involving a Willis entity, Roland v. Green, Civil Action No. 3:10-CV-0224-N (‘Roland’). On August 31, 2011, the court issued its decision in Roland, dismissing that action with prejudice under SLUSA. On October 27, 2011, the court in Troice entered an order (i) dismissing with prejudice those claims asserted in the Third Amended Class Action Complaint on a class basis on the grounds set forth in the Roland decision discussed above and (ii) dismissing without prejudice those claims asserted in the Third Amended Class Action Complaint on an individual basis. Also on October 27, 2011, the court entered a final judgment in the action. On October 28, 2011, the plaintiffs in Troice filed a notice of appeal to the U.S. Court of Appeals for the Fifth Circuit. Subsequently, Troice, Roland and a third action captioned Troice, et al. v. Proskauer Rose LLP, Civil Action No. 3:09-CV-01600-N, which also was dismissed on the grounds set forth in the Roland decision discussed above and on appeal to the U.S. Court of Appeals for the Fifth Circuit, were consolidated for purposes of briefing and oral argument. Following the completion of briefing and oral argument, on March 19, 2012, the Fifth Circuit reversed and remanded the actions. On April 2, 2012, the defendants-appellees filed petitions for rehearing en banc. On April 19, 2012, the petitions for rehearing en banc were denied. On July 18, 2012, defendants-appellees filed a petition for writ of certiorari with the United States Supreme Court regarding the Fifth Circuit’s reversal in Troice. On January 18, 2013, the Supreme Court granted our petition. Opening briefs were filed on May 3, 2013 and the Supreme Court heard oral argument on October 7, 2013. On February 26, 2014, the Supreme Court affirmed the Fifth Circuit’s decision. On March 19, 2014, the plaintiffs in Troice filed a Motion to Defer Resolution of Motions to Dismiss, to Compel Rule 26(f) Conference and For Entry of Scheduling Order. On March 25, 2014, the parties in Troice and the Janvey, et al. v. Willis of Colorado, Inc., et al. action discussed below stipulated to the consolidation of the two actions for pre-trial purposes under Rule 42(a) of the Federal Rules of Civil Procedure. On March 28, 2014, the Court ‘so ordered’ that stipulation and, thus, consolidated Troice and Janvey for pre-trial purposes under Rule 42(a). On September 16, 2014, the court (a) denied the plaintiffs’ request to defer resolution of the defendants’ motions to dismiss, but granted the plaintiffs’ request to enter a scheduling order; (b) requested the submission of supplemental briefing by all parties on the defendants’ motions to dismiss, which the parties submitted on September 30, 2014; and (c) entered an order setting a schedule for briefing and discovery regarding plaintiffs’ motion for class certification, which schedule, among other things, provided for the submission of the plaintiffs’ motion for class certification (following the completion of briefing and discovery) on April 20, 2015. On December 15, 2014, the court granted in part and denied in part the defendants’ motions to dismiss. On January 30, 2015, the defendants except Willis Group Holdings plc answered the Third Amended Class Action Complaint. On April 20, 2015, the plaintiffs filed their motion for class certification, the defendants filed their opposition to plaintiffs’ motion, and the plaintiffs filed their reply in further support of the motion. Pursuant to an agreed stipulation also filed with the court on April 20, 2015, the defendants on June 4, 2015 filed sur-replies in further opposition to the motion. The Court has not yet scheduled a hearing on the motion. On June 19, 2015, Willis Group Holdings plc filed a motion to dismiss the complaint for lack of personal jurisdiction. On November 17, 2015, Willis Group Holdings plc withdrew the motion. On March 31, 2016, the parties in the Troice and Janvey actions entered into a settlement in principle that is described in more detail below.
On September 30, 2014, the court denied the plaintiffs’ motion to remand in Zacarias, and, on October 3, 2014, the court denied the plaintiffs’ motions to remand in Tisminesky and de Gadala Maria. On December 3, 2014 and March 3, 2015, the court granted the plaintiffs’ motions to remand in Barbar and Ranni, respectively, remanded both actions to Florida state court (Miami-Dade County) and stayed both actions until further order of the court. On January 2, 2015 and April 1, 2015, the plaintiffs in Barbar and Ranni, respectively, appealed the court’s December 3, 2014 and March 3, 2015 decisions to the Fifth Circuit. On April 22, 2015 and July 22, 2015, respectively, the Fifth Circuit dismissed the Barbar and Ranni appeals sua sponte for lack of jurisdiction. The defendants have not yet responded to the complaints in Ranni or Barbar. On April 1, 2015, the defendants except Willis Group Holdings plc filed motions to dismiss the complaints in Zacarias, Tisminesky and de Gadala-Maria. On June 19, 2015, Willis Group Holdings plc filed motions to dismiss the complaints in Zacarias, Tisminesky and de Gadala-Maria for lack of personal jurisdiction. On July 15, 2015, the court dismissed the complaint in Zacarias in its entirety with leave to replead within 21 days. On July 21, 2015, the court dismissed the complaints in Tisminesky and de Gadala-Maria in their entirety with leave to replead within 21 days. On August 6, 2015, the plaintiffs in Zacarias, Tisminesky and de Gadala-Maria filed amended complaints (in which, among other things, Willis Group Holdings plc was no longer named as a defendant). On September 11, 2015, the defendants filed motions to dismiss the amended complaints. The motions await disposition by the court.
On November 15, 2013, plaintiffs in Janvey filed the operative First Amended Complaint, which added certain defendants unaffiliated with Willis. On February 28, 2014, the defendants filed motions to dismiss the First Amended Complaint, which motions, other than with respect to Willis Group Holding plc’s motion to dismiss for lack of personal jurisdiction, were granted in part and denied in part by the court on December 5, 2014. On December 22, 2014, Willis filed a motion to amend the court’s December 5 order to certify an interlocutory appeal to the Fifth Circuit, and, on December 23, 2014, Willis filed a motion to amend and, to the extent necessary, reconsider the court’s December 5 order. On January 16, 2015, the defendants answered the First Amended Complaint. On January 28, 2015, the court denied Willis’s motion to amend the court’s December 5 order to certify an interlocutory appeal to the Fifth Circuit. On February 4, 2015, the court granted Willis’s motion to amend and, to the extent necessary, reconsider the December 5 order. As discussed above, on March 25, 2014, the parties in Troice and Janvey stipulated to the consolidation of the two actions for pre-trial purposes under Rule 42(a) of the Federal Rules of Civil Procedure. On March 28, 2014, the Court ‘so ordered’ that stipulation and, thus, consolidated Troice and Janvey for pre-trial purposes under Rule 42(a). On January 26, 2015, the court entered an order setting a schedule for briefing and discovery regarding the plaintiffs’ motion for class certification, which schedule, among other things, provided for the submission of the plaintiffs’ motion for class certification (following the completion of briefing and discovery) on July 20, 2015. By letter dated March 4, 2015, the parties requested that the court consolidate the scheduling orders entered in Troice and Janvey to provide for a class certification submission date of April 20, 2015 in both cases. On March 6, 2015, the court entered an order consolidating the scheduling orders in Troice and Janvey, providing for a class certification submission date of April 20, 2015 in both cases, and vacating the July 20, 2015 class certification submission date in the original Janvey scheduling order. On November 17, 2015, Willis Group Holdings plc withdrew its motion to dismiss for lack of personal jurisdiction.
The plaintiffs in Janvey and Troice and the other actions above seek overlapping damages, representing either the entirety or a portion of the total alleged collective losses incurred by investors in Stanford certificates of deposit, notwithstanding the fact that Legacy Willis acted as broker of record for only a portion of time that Stanford issued certificates of deposit. In the fourth quarter of 2015, the Company recognized a $70 million litigation provision for loss contingencies relating to the Stanford matters based on its ongoing review of a variety of factors as required by accounting standards. On March 31, 2016, the Company entered into a settlement in principle for $120 million relating to this litigation, and we have therefore increased our provisions by $50 million. Further details on this settlement in principle are given below. The settlement is contingent on a number of conditions, including court approval of the settlement and a bar order prohibiting any continued or future litigation against Willis related to Stanford, which may not be given. Therefore, the ultimate resolution of these matters may differ from the amount provided for. The Company continues to dispute the allegations and, to the extent litigation proceeds, to defend the lawsuits vigorously. Settlement. On March 31, 2016, the Company entered into a settlement in principle, as reflected in a Settlement Term Sheet, relating to the Stanford litigation matter. The Company agreed to the Settlement Term Sheet to eliminate the distraction, burden, expense and uncertainty of further litigation. In particular, if the settlement and the related bar orders described below are approved by the Court and become effective, the Company (a newly-combined firm) would be able to conduct itself with the bar orders’ protection from the continued overhang of matters alleged to have occurred approximately a decade ago. Further, the Settlement Term Sheet provided that the parties understood and agreed that there is no admission of liability or wrongdoing by the Company. The Company expressly denies any liability or wrongdoing with respect to the matters alleged in the Stanford litigation. Specifically, the parties to the Settlement Term Sheet are Ralph S. Janvey (in his capacity as the Court-appointed receiver (the ‘Receiver’) for The Stanford Financial Group and its affiliated entities in receivership (collectively, ‘Stanford’)), the Official Stanford Investors Committee, Samuel Troice, Martha Diaz, Paula Gilly-Flores, Punga Punga Financial, Ltd., Manuel Canabal, Daniel Gomez Ferreiro and Promotora Villa Marina, C.A. (collectively, ‘Plaintiffs’), on the one hand, and Willis Towers Watson Public Limited Company (formerly Willis Group Holdings Public Limited Company), Willis Limited, Willis North America Inc. and Willis of Colorado, Inc. (collectively, ‘Defendants’), on the other hand. Under the terms of the Settlement Term Sheet, the parties agreed in principle to settle and dismiss the Janvey and Troice actions (collectively, the ‘Actions’) and all current or future claims arising from or related to Stanford. If the settlement, including the bar orders described below, is approved by the Court and is not subject to further appeal, Willis North America Inc. will make a one-time cash payment of $120 million to the Receiver to be distributed to all Stanford investors who have claims recognized by the Receiver pursuant to the distribution plan in place at the time the payment is made. The Settlement Term Sheet also provided the parties’ agreement to seek the Court’s entry of bar orders prohibiting any continued or future litigation against the Defendants and their related parties of claims relating to Stanford, whether asserted to date or not. The terms of the bar orders therefore would prohibit all Stanford-related litigation described above, and not just the Actions, including any pending matters and any actions that may be brought in the future. Final Court approval of these bar orders is a condition of the settlement. On or about August 31, 2016, the parties to the settlement signed a formal Settlement Agreement memorializing the terms of the settlement as originally set forth in the Settlement Term Sheet. On September 7, 2016, the plaintiffs in the Troice and Janvey actions filed with the Court a motion to approve the settlement. On October 19, 2016, the Court preliminarily approved the settlement. Several of the plaintiffs in the other actions above have objected to the settlement. A hearing to consider final approval of the settlement was held on January 20, 2017 and the Court reserved decision. The Actions are stayed pending final approval of the settlement. The timing of any final decision is subject to the discretion of the Court and any appeal, and the Court may decide not to approve the settlement. City of Houston On August 1, 2014, the City of Houston (‘plaintiff’) filed suit against Legacy Towers Watson in the United States District Court for the Southern District of Texas, Houston Division. On March 8, 2016, plaintiff filed its First Amended Complaint. In the amended complaint, plaintiff alleges various deficiencies in pension actuarial work-product and advice stated to have been provided by Legacy Towers Watson’s predecessor firm, Towers Perrin, in its capacity as principal actuary to the Houston Firefighters’ Relief and Retirement Fund (the ‘Fund’). Towers Perrin is stated to have acted in this capacity between “the early 1980s until 2003”. In particular, the amended complaint alleges “misrepresentations and miscalculations” in valuation reports allegedly issued by Towers Perrin from 2000 through 2002 upon which plaintiff claims to have relied. Plaintiff asserts that Towers Perrin assigned a new team of actuaries to the Fund in 2002 “to correct Towers’ own earlier mistakes” and that the new team “altered” certain calculations which “increased the actuarial accrued liability by $163 million.” Plaintiff claims that the reports indicated that the City’s minimum contribution percentages to the Fund would remain in place through at least 2019; and that existing benefits under the Fund could be increased, and new benefits could be added, without increasing plaintiff’s financial burden, and without increasing plaintiff’s rate of annual contributions to the Fund. The amended complaint alleges that plaintiff relied on these reports when supporting a new benefit package for the Fund. These reports, and other advice, are alleged, among other things, to have been negligent, to have misrepresented the present and future financial condition of the Fund and the contributions required to be made by plaintiff to support those benefits. Plaintiff asserts that, but for Towers Perrin’s alleged negligence and misrepresentations, plaintiff would not have supported the benefit increase, and that such increased benefits would not and could not have been approved or enacted. It is further asserted that Towers Perrin’s alleged “negligence and misrepresentations damaged the City to the tune of tens of millions of dollars in annual contributions.” Plaintiff seeks the award of punitive damages, actual damages, exemplary damages, special damages, attorney’s fees and expenses, costs of suit, pre- and post- judgment interest at the maximum legal rate, and other unspecified legal and equitable relief. Plaintiff has not yet quantified fully its asserted damages. On October 10, 2014, Legacy Towers Watson filed a motion to dismiss plaintiff’s entire complaint on the basis that the complaint fails to state a claim upon which relief can be granted. On November 21, 2014, the City filed its response in opposition to Legacy Towers Watson’s motion to dismiss. On September 23, 2015, Legacy Towers Watson’s motion to dismiss was denied by the United States District Court for the Southern District of Texas, Houston Division. The court entered a scheduling order setting trial for May 30, 2017. On June 20, 2016, the Court entered an amended scheduling order setting trial for October 31, 2017. Given the stage of the proceedings, the Company is currently unable to provide an estimate of the reasonably possible loss or range of loss. The Company disputes the allegations, and intends to defend the lawsuit vigorously. British Coal Staff Superannuation Scheme On September 4, 2014, Towers Watson Limited (‘TWL’), a wholly-owned subsidiary of Legacy Towers Watson, received a Letter of Claim (the ‘Demand Letter’) on behalf of Coal Staff Superannuation Scheme Trustees Limited (the ‘Trustee’), trustee of the British Coal Staff Superannuation Scheme (the ‘Scheme’). The Demand Letter was sent under the Professional Negligence Pre-Action Protocol, a pre-action dispute resolution procedure which applies in England and Wales. In the Demand Letter, it is asserted that the Trustee has a claim against TWL in respect of allegedly negligent investment consulting advice provided to it by Watson Wyatt Limited, in the United Kingdom, in particular with regard to a currency hedge that was implemented in connection with the Scheme’s investment of £250 million in a Bluebay local currency emerging market debt fund in August 2008 (the ‘Investment’). It is alleged that the currency hedge has caused a substantial loss to the Scheme, compensatory damages for which losses are quantified at £47.5 million, for the period August 2008 to October 2012. TWL sent a Letter of Response on December 23, 2014. On November 11, 2015, the Trustee issued a claim form in the English High Court of Justice, Queen’s Bench Division, Commercial Court, in which TWL is named defendant. The Trustee asserts that, in breach of retainer, or of a duty of care alleged to have been owed under contract or at common law, TWL acted negligently and/or provided negligent advice in connection with the Investment and/or in relation to the monitoring of the performance of the Investment. The Trustee asserts that, but for the alleged breaches, the Scheme would have achieved a return on the Investment that was approximately £47.5 million greater than the return on the Investment which it ultimately achieved, in the period between August 2008 and 28 September 2012. The claim form was not served on TWL within the validity period. Based on current information, the Company does not anticipate any further developments, and considers the matter to be closed. Meriter Health Services On January 6, 2015, Meriter Health Services, Inc. (‘Meriter’), plan sponsor of the Meriter Health Services Employee Retirement Plan (the ‘Plan’) filed a complaint in Wisconsin state court against Towers Watson Delaware Inc. (‘TWDE’), a wholly-owned subsidiary of the Company, and against its former lawyers, individual actuaries, and insurers. In the Third Amended Complaint, served on April 12, 2016, Meriter alleges that Towers, Perrin, Forster & Crosby, Inc. (‘TPFC’) and Davis, Conder, Enderle & Sloan, Inc. (‘DCES’), and other entities and individuals, including Meriter’s former lawyers, acted negligently concerning the benefits consulting advice provided to Meriter, including TPFC and the lawyers’ involvement in the Plan design and drafting of the Plan document in 1987 by TPFC, and DCES and the lawyers’ Plan review, Plan redesign, Plan amendment, and drafting of ERISA section 204(h) notices in the early 2000s. Additionally, Meriter asserts that TPFC, DCES, and the individual actuary defendants breached alleged fiduciary duties to advise Meriter regarding the competency of Meriter’s then ERISA counsel. Meriter also has asserted causes of action for contribution, indemnity, and equitable subrogation related to amounts paid to settle a class action lawsuit related to the Plan that was filed by Plan participants against Meriter in 2010, alleging a number of ERISA violations and related claims. Meriter settled that lawsuit in 2015 for $82 million. Meriter seeks damages in the amount of approximately $190 million, which includes amounts it claims to have paid to settle and defend the class action litigation, and amounts it claims to have incurred as a result of improper plan design. Meriter seeks to recover these alleged damages from TWDE and the other defendants. On January 12, 2016, TWDE and the other defendants filed a motion for partial summary judgment seeking dismissal of Meriter’s negligence and breach of fiduciary duty claims. On April 18, 2016, TWDE and the other defendants filed a motion to dismiss the contribution, indemnification, and equitable subrogation claims. On May 4, 2016, the parties appeared for oral argument on the motion for partial summary judgment, which the court granted in part and denied in part. The court dismissed the fiduciary duty claims, but not the negligence claims. Meriter subsequently moved for reconsideration of the dismissal of its breach of fiduciary duty claims, which motion was denied as to TWDE on August 16, 2016. On June 22, 2016, the court granted in part TWDE’s motion to dismiss, and dismissed the contribution and equitable subrogation claims, but denied the motion as to Meriter’s indemnification claim without prejudice to the right of any defendant to raise the issue again by later motion. On December 1, 2016, TWDE and other defendants filed a motion for summary judgment, which will be heard on March 9, 2017. Based on all of the information to date, and given the stage of the matter, TWDE is currently unable to provide an estimate of the reasonably possible loss or range of loss. TWDE disputes the allegations, and intends to defend the matter vigorously. Elma Sanchez, et. al On August 6, 2013, three individual plaintiffs filed a putative class action suit against the California Public Employees’ Retirement System (‘CalPERS’) in Los Angeles County Superior Court. On January 10, 2014, plaintiffs filed an amended complaint, which added as defendants several members of CalPERS’ Board of Administration and three Legacy Towers Watson entities, Towers Watson & Co., Towers Perrin, and Tillinghast-Towers Perrin (‘Towers Perrin’). Plaintiffs’ claims all relate to a self-funded, non-profit Long Term Care Program that CalPERS established in 1995 (the ‘LTC Program’). Plaintiffs’ claims seek unspecified damages allegedly resulting from CalPERS’ 2012 decision to implement in 2015 and 2016 an 85 percent increase in the premium rates of certain of the long term care policies it issued between 1995 and 2004 (the ‘85% Increase’). The amended complaint alleges claims against CalPERS for breach of contract and breach of fiduciary duty. It also includes a single cause of action against Towers Perrin for professional negligence relating to actuarial services Towers Perrin provided to CalPERS relating to the LTC Program between 1995 and 2004. Plaintiffs principally allege that CalPERS mismanaged the LTC Program and its investment assets in multiple respects and breached its contractual and fiduciary duties to plaintiffs and other class members by impermissibly imposing the 85% Increase to make up for investment losses. Plaintiffs also allege that Towers Perrin recommended inadequate initial premium rates at the outset of the LTC Program and used unspecified inappropriate assumptions in its annual valuations for CalPERS. Plaintiffs claim that Towers Perrin’s allegedly negligent acts and omissions, prior to the end of its retainer in 2004, contributed to the need for the 85% Increase. In May 2014, the court denied the motions to dismiss filed by CalPERS and Towers Perrin addressed to the sufficiency of the complaint. On January 28, 2016, the court granted plaintiffs’ motion for class certification. The certified class as currently defined includes those long term care policy holders whose policies were “subject to” the 85% Increase. The court thereafter set an October 2, 2017 trial date. In May 2016, the case was reassigned to a different judge. The court agreed that Towers Perrin may file a motion for summary judgment which was initially scheduled to be heard on February 3, 2017. The hearing date was thereafter moved to March 8, 2017, and the motion at this time has been fully briefed. In the event summary judgment is denied, the court has also agreed to consider potential motions by Towers Perrin and CalPERS to decertify or modify the class. Based on all of the information to date, and given the stage of the matter, the Company is currently unable to provide an estimate of the reasonably possible loss or range of loss. The Company disputes the allegations and intends to continue to defend the lawsuit vigorously. |
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- Definition The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Supplementary Information for Select Balance Sheet Accounts | Supplementary Information for Certain Balance Sheet Accounts Additional details of specific balance sheet accounts are detailed below: Accounts receivable, net consists of the following:
Accounts receivable are stated at estimated net realizable values. The provisions shown below as of the end of each period, are recorded as the amounts considered by management to be sufficient to meet probable future losses related to uncollectible accounts.
Prepaid and other current assets consist of the following:
Other non-current assets consist of the following:
Other current liabilities consist of the following:
Provision for liabilities consists of the following:
Other non-current liabilities consist of the following:
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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. No definition available.
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Other Expense/(Income), Net | Other Expense/(Income), Net Other expense/(income), net consists of the following:
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- Definition The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Accumulated Other Comprehensive Loss |
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Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Loss | Accumulated Other Comprehensive Loss The components of other comprehensive income/(loss) are as follows:
The components of accumulated other comprehensive loss, net of tax, are as follows:
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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Share-Based Compensation |
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Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation | Share-based Compensation Plan Summaries On December 31, 2016, the Company had a number of open share-based compensation plans, which provide for the grant of time-based and performance-based options, time-based and performance-based restricted stock units, and various other share-based grants to employees. All of the Company’s share-based compensation plans under which any options, restricted stock units or other share-based grants are outstanding as of December 31, 2016 are described below. The compensation cost that has been recognized for those plans for the years ended December 31, 2016, 2015 and 2014 was $123 million, $64 million and $52 million, respectively. The total income tax benefit recognized in the consolidated statement of operations for share-based compensation arrangements for the years ended December 31, 2016, 2015, and 2014 was $35 million, $15 million and $12 million, respectively. 2012 Equity Incentive Plan This plan, which was established on April 25, 2012, provides for the granting of incentive stock options, time-based or performance-based non-statutory stock options, share appreciation rights, restricted shares, time-based or performance-based restricted share units (‘RSUs’), performance-based awards and other share-based grants or any combination thereof (collectively referred to as ‘Awards’) to employees, officers, non-employee directors and consultants (‘Eligible Individuals’) of the Company. The Board of Directors also adopted a sub-plan under the 2012 plan to provide an employee sharesave scheme in the United Kingdom. There were approximately 9 million shares remaining available for grant under this plan as of December 31, 2016. Options are exercisable on a variety of dates, including from the second, third, fourth or fifth anniversary of grant. Unless terminated sooner by the Board of Directors, the 2012 Plan will expire 10 years after the date of its adoption. That termination will not affect the validity of any grants outstanding at that date. Towers Watson Share Plans In January 2016, in connection with the Merger, we assumed the Towers Watson & Co. 2009 Long-Term Incentive Plan (‘LTIP’) and converted the outstanding unvested restricted stock units and options into Willis Towers Watson restricted stock units (‘RSUs’) and options using a conversion ratio stated in the Merger Agreement. We determined the fair value of the portion of the outstanding RSUs and options related to pre-acquisition employee service using the straight-line methodology from date of grant to the acquisition date to be $37 million, which was added to the transaction consideration. The fair value of the remaining portion of RSUs and options related to the post-acquisition employee services was $45 million, and will be recorded over the future vesting periods. For the year ended December 31, 2016, we recorded $31 million of non-cash stock based compensation. The acquired awards include performance-vested restricted stock units. Under the RSU agreement, participants become vested in a number of RSUs based on the achievement of specified levels of financial performance during the performance period set forth in the Merger Agreement, provided that the participant remains in continuous service with us through the end of the performance period. Dividend equivalents will accrue on these RSUs and vest to the same extent as the underlying shares. The Compensation Committee of the Board of Directors may provide for continuation of vesting of restricted stock units upon an employee’s termination under certain circumstances such as qualified retirement. The definition of qualified retirement is age 55 with 15 years of service with the Company and a minimum of one year of service in the performance period. Due to the terms of the RSU agreement, the achievement of the level of financial performance is determined at the higher of 100% or the level attained at the time of the Merger. The Company does not intend to grant future awards under the 2009 LTIP plan. Employee Stock Purchase Plans The Company adopted the Willis Group Holdings 2010 North America Employee Stock Purchase Plan, which expires on May 31, 2020. These plans provide certain eligible employees in the United States and Canada with the ability to contribute payroll deductions to the purchase of Willis Towers Watson ordinary shares at the end of each offering period. Share-based Compensation Valuation Assumptions Options The fair value of each option is estimated on the date of grant using the Black-Scholes option pricing model that uses the assumptions noted in the following table. Expected volatility is based on historical volatility of the Company’s shares. The Company uses the simplified method set out in ASC 718 – Compensation – Stock Compensation to derive the expected term of options granted as it does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate the expected term. The risk-free rate for periods within the expected life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The assumptions noted in the table below represent the weighted-average of each assumption for each grant during the year.
Share-based Compensation Award Activity Options Classification of options as time-based or performance-based is dependent on the original terms of the award. Performance conditions on the majority of options have been met. A summary of option activity under the plans at December 31, 2016, and changes during the year then ended is presented below:
The weighted average grant-date fair value of time-based options granted during the years ended December 31, 2016, 2015, and 2014 were $16.88, $14.77, and $14.12, respectively. The total intrinsic value of options exercised during the years ended December 31, 2016, 2015, and 2014 was $25 million, $17 million, and $22 million, respectively. At December 31, 2016 there was $4 million of total unrecognized compensation cost related to nonvested share-based compensation arrangements under time-based stock option plans; that cost is expected to be recognized over a weighted average period of 2 years. There were no performance-based options granted during the three years ended December 31, 2016, 2015 or 2014. However, 520,295 performance-based options were acquired during the year ended December 31, 2016, at which time the performance conditions were met. The total intrinsic value of options exercised during the years ended December 31, 2016, 2015, and 2014 was $9 million, $25 million, and $15 million, respectively. At December 31, 2016 there was $1 million of total unrecognized compensation cost related to nonvested share-based compensation arrangements under performance-based stock option plans; that cost is expected to be recognized over a weighted-average period of 1 year. Restricted Stock Units The fair value of each time-based restricted stock unit is based on the grant date fair value, or the fair value on the acquisition date in the case of acquired awards. The fair value of each performance-based restricted stock unit is estimated on the grant date using a Monte-Carlo simulation that uses the assumptions noted in the following table. Expected volatility is based on the historical volatility of the Company’s shares. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of the grant. The assumptions noted in the table below represent the weighted-average of each assumption for each grant during the year.
A summary of time-based and performance-based restricted stock unit activity under the Plans at December 31, 2016, and changes during the year then ended, is presented below:
The total number of time-based restricted stock units vested during the year ended December 31, 2016 was 459,838 shares at an average share price of $120.42. The total number of time-based restricted stock units vested during the year ended December 31, 2015 was 408,032 shares at an average share price of $117.72.The total number of restricted stock units vested during the year ended December 31, 2014 was 261,530 shares at an average share price of $116.97. At December 31, 2016 there was $43 million of total unrecognized compensation cost related to nonvested share-based compensation arrangements under the plan; that cost is expected to be recognized over a weighted average period of 1 year. The total number of performance-based restricted stock units vested during the year ended December 31, 2016 was 258,536 shares at an average share price of $119.75. The total number of performance-based restricted stock units vested during the year ended December 31, 2015 was 63,180 shares at an average share price of $117.88. The total number of performance-based restricted stock units vested during the year ended December 31, 2014 was 62,216 shares at an average share price of $116.00. At December 31, 2016 there was $54 million of total unrecognized compensation cost related to nonvested performance-based share-based compensation arrangements under the plan; that cost is expected to be recognized over a weighted average period of 2 years. Cash received from option exercises under all share-based payment arrangements for the years ended December 31, 2016, 2015, and 2014 was $63 million, $124 million, and $134 million, respectively. The actual tax benefit recognized for the tax deductions from option exercises of the share-based payment arrangements totaled $30 million for the year ended December 31, 2016. The actual tax benefit recognized for the tax deductions from option exercises of the share-based payment arrangements totaled $25 million and $20 million for the years ended December 31, 2015 and December 31, 2014, respectively. |
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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Earnings Per Share |
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Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share | Earnings Per Share Basic and diluted earnings per share are calculated by dividing net income attributable to Willis Towers Watson by the average number of ordinary shares outstanding during each period. The computation of diluted earnings per share reflects the potential dilution that could occur if dilutive securities and other contracts to issue shares were exercised or converted into shares or resulted in the issuance of shares that then shared in the net income of the Company. At December 31, 2016 and 2015, there were 1.2 million and 1.6 million time-based share options; 0.9 million and 0.6 million performance based options; 0.4 million and 0.7 million restricted time-based share units; and 1.2 million and 0.7 million restricted performance-based share units outstanding, respectively. Basic and diluted earnings per share are as follows:
Options to purchase 0.5 million, 0.6 million and 0.9 million shares were not included in the computation of the dilutive effect of share options for the years ended December 31, 2016, 2015 and 2014, respectively, because their effect was anti-dilutive. Options to purchase nil, 0.5 million, and 0.6 million restricted stock units were not included in the computation of the dilutive effect of share options for the years ended December 31, 2016, 2015 and 2014, respectively, because their effect was anti-dilutive. The number of options for 2015 and 2014 has been retroactively adjusted to reflect the reverse stock split on January 4, 2016. See Note 3 — Merger and Acquisitions for further details. |
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- Definition The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Supplemental Disclosures of Cash Flow Information |
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Supplemental Cash Flow Elements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Supplemental Disclosures of Cash Flow Information | Supplemental Disclosures of Cash Flow Information Supplemental disclosures regarding cash flow information and non-cash investing and financing activities are as follows:
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- Definition The entire disclosure for supplemental cash flow activities, including cash, noncash, and part noncash transactions, for the period. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Quarterly Financial Data (Unaudited) |
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Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Quarterly Financial Data (Unaudited) | Quarterly Financial Data (Unaudited) Quarterly financial data for 2016 and 2015 were as follows:
The Merger affects the comparability of this data between 2016 and other periods presented. See Note 3 — Merger and Acquisitions for additional information. During the fourth quarter of 2016, management corrected an error by recording a $103 million benefit from income taxes related to the release of a portion of our U.S. deferred tax valuation allowance. A portion of the correction should have been recorded in each of the three fiscal year 2016 Quarterly Reports on Forms 10-Q. Management has determined that the error is immaterial to the previously filed 2016 quarterly financial statements and has no impact on prior year financial statements. |
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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Financial Information for Parent Guarantor, Other Guarantor Subsidiaries and Non-Guarantor Subsidiaries |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Information for Parent Guarantor, Other Guarantor Subsidiaries and Non-Guarantor Subsidiaries | Financial Information for Parent Guarantor, Other Guarantor Subsidiaries and Non-Guarantor Subsidiaries Willis North America Inc. (‘Willis North America’) had $148 million senior notes outstanding that were issued on July 1, 2005 that were subsequently repaid on July 1, 2015 and has $394 million of senior notes issued on March 28, 2007 and $187 million of senior notes issued on September 29, 2009. All direct obligations under the senior notes are jointly and severally, irrevocably and fully and unconditionally guaranteed by Willis Netherlands Holdings B.V., Willis Investment U.K. Holdings Limited, TA I Limited, Trinity Acquisition plc, Willis Group Limited, Willis Towers Watson Sub Holdings Unlimited Company and WTW Bermuda Holdings Ltd., collectively the ‘Other Guarantors’, and with Willis Towers Watson, the ‘Guarantor Companies’. The debt securities that were issued by Willis North America and guaranteed by the entities described above, and for which the disclosures set forth below relate and are required under applicable SEC rules, were issued under an effective registration statement. Presented below is condensed consolidating financial information for:
The equity method has been used for investments in subsidiaries in the condensed consolidating balance sheets of Willis Towers Watson, the Other Guarantors and the Issuer. Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Financial Information for Parent Issuer, Guarantor Subsidiaries and Non-Guarantor Subsidiaries On March 17, 2011, the Company issued senior notes totaling $800 million in a registered public offering. On March 15, 2016, $300 million of these senior notes was repaid leaving $500 million outstanding. These debt securities were issued by Willis Towers Watson (‘WTW Debt Securities’) and are guaranteed by certain of the Company’s subsidiaries. Therefore, the Company is providing the condensed consolidating financial information below. The following wholly owned subsidiaries (directly or indirectly) fully and unconditionally guarantee the WTW Debt Securities on a joint and several basis: Willis Netherlands Holdings B.V., Willis Investment U.K. Holdings Limited, TA I Limited, Trinity Acquisition plc, Willis Group Limited, Willis North America Inc., Willis Towers Watson Sub Holdings Unlimited Company and WTW Bermuda Holdings Ltd. (the ‘Guarantors’). The guarantor structure described above differs from the guarantor structure associated with the senior notes issued by Willis North America (the ‘Willis North America Debt Securities’) (and for which condensed consolidating financial information is presented in Note 21) in that Willis Towers Watson is the Parent Issuer and Willis North America is a subsidiary guarantor. Presented below is condensed consolidating financial information for:
The equity method has been used for investments in subsidiaries in the condensed consolidating balance sheets of Willis Towers Watson and the Guarantors. Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Financial Information for Issuer, Parent Guarantor, Other Guarantor Subsidiaries and Non-Guarantor Subsidiaries Trinity Acquisition plc has $2.1 billion of senior notes outstanding, of which $525 million were issued on August 15, 2013, $1.0 billion were issued on March 22, 2016 and €540 million ($609 million) were issued on May 26, 2016. All direct obligations under the senior notes are jointly and severally, irrevocably and fully and unconditionally guaranteed by Willis Netherlands Holdings B.V., Willis Investment U.K. Holdings Limited, TA I Limited, Willis Group Limited, Willis North America Inc., Willis Towers Watson Sub Holdings Unlimited Company and WTW Bermuda Holdings Ltd., collectively the ‘Other Guarantors’, and with Willis Towers Watson, the ‘Guarantor Companies’. The guarantor structure described above differs from the guarantor structure associated with the senior notes issued by the Company and Willis North America (the ‘Willis North America Debt Securities’) in that Trinity Acquisition plc is the issuer and not a subsidiary guarantor, and Willis North America Inc. is a subsidiary guarantor. Presented below is condensed consolidating financial information for:
The equity method has been used for investments in subsidiaries in the condensed consolidating balance sheets of Willis Towers Watson, the Other Guarantors and the Issuer. Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
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- References No definition available.
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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Financial Information for Parent Issuer, Guarantor Subsidiaries and Non-Guarantor Subsidiaries |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Information for Parent Issuer, Guarantor Subsidiaries and Non-Guarantor Subsidiaries | Financial Information for Parent Guarantor, Other Guarantor Subsidiaries and Non-Guarantor Subsidiaries Willis North America Inc. (‘Willis North America’) had $148 million senior notes outstanding that were issued on July 1, 2005 that were subsequently repaid on July 1, 2015 and has $394 million of senior notes issued on March 28, 2007 and $187 million of senior notes issued on September 29, 2009. All direct obligations under the senior notes are jointly and severally, irrevocably and fully and unconditionally guaranteed by Willis Netherlands Holdings B.V., Willis Investment U.K. Holdings Limited, TA I Limited, Trinity Acquisition plc, Willis Group Limited, Willis Towers Watson Sub Holdings Unlimited Company and WTW Bermuda Holdings Ltd., collectively the ‘Other Guarantors’, and with Willis Towers Watson, the ‘Guarantor Companies’. The debt securities that were issued by Willis North America and guaranteed by the entities described above, and for which the disclosures set forth below relate and are required under applicable SEC rules, were issued under an effective registration statement. Presented below is condensed consolidating financial information for:
The equity method has been used for investments in subsidiaries in the condensed consolidating balance sheets of Willis Towers Watson, the Other Guarantors and the Issuer. Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Financial Information for Parent Issuer, Guarantor Subsidiaries and Non-Guarantor Subsidiaries On March 17, 2011, the Company issued senior notes totaling $800 million in a registered public offering. On March 15, 2016, $300 million of these senior notes was repaid leaving $500 million outstanding. These debt securities were issued by Willis Towers Watson (‘WTW Debt Securities’) and are guaranteed by certain of the Company’s subsidiaries. Therefore, the Company is providing the condensed consolidating financial information below. The following wholly owned subsidiaries (directly or indirectly) fully and unconditionally guarantee the WTW Debt Securities on a joint and several basis: Willis Netherlands Holdings B.V., Willis Investment U.K. Holdings Limited, TA I Limited, Trinity Acquisition plc, Willis Group Limited, Willis North America Inc., Willis Towers Watson Sub Holdings Unlimited Company and WTW Bermuda Holdings Ltd. (the ‘Guarantors’). The guarantor structure described above differs from the guarantor structure associated with the senior notes issued by Willis North America (the ‘Willis North America Debt Securities’) (and for which condensed consolidating financial information is presented in Note 21) in that Willis Towers Watson is the Parent Issuer and Willis North America is a subsidiary guarantor. Presented below is condensed consolidating financial information for:
The equity method has been used for investments in subsidiaries in the condensed consolidating balance sheets of Willis Towers Watson and the Guarantors. Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Financial Information for Issuer, Parent Guarantor, Other Guarantor Subsidiaries and Non-Guarantor Subsidiaries Trinity Acquisition plc has $2.1 billion of senior notes outstanding, of which $525 million were issued on August 15, 2013, $1.0 billion were issued on March 22, 2016 and €540 million ($609 million) were issued on May 26, 2016. All direct obligations under the senior notes are jointly and severally, irrevocably and fully and unconditionally guaranteed by Willis Netherlands Holdings B.V., Willis Investment U.K. Holdings Limited, TA I Limited, Willis Group Limited, Willis North America Inc., Willis Towers Watson Sub Holdings Unlimited Company and WTW Bermuda Holdings Ltd., collectively the ‘Other Guarantors’, and with Willis Towers Watson, the ‘Guarantor Companies’. The guarantor structure described above differs from the guarantor structure associated with the senior notes issued by the Company and Willis North America (the ‘Willis North America Debt Securities’) in that Trinity Acquisition plc is the issuer and not a subsidiary guarantor, and Willis North America Inc. is a subsidiary guarantor. Presented below is condensed consolidating financial information for:
The equity method has been used for investments in subsidiaries in the condensed consolidating balance sheets of Willis Towers Watson, the Other Guarantors and the Issuer. Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
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- References No definition available.
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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Financial Information for Issuer, Parent Guarantor, Other Guarantor Subsidiaries and Non-Guarantor Subsidiaries |
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Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Information for Issuer, Parent Guarantor, Other Guarantor Subsidiaries and Non-Guarantor Subsidiaries | Financial Information for Parent Guarantor, Other Guarantor Subsidiaries and Non-Guarantor Subsidiaries Willis North America Inc. (‘Willis North America’) had $148 million senior notes outstanding that were issued on July 1, 2005 that were subsequently repaid on July 1, 2015 and has $394 million of senior notes issued on March 28, 2007 and $187 million of senior notes issued on September 29, 2009. All direct obligations under the senior notes are jointly and severally, irrevocably and fully and unconditionally guaranteed by Willis Netherlands Holdings B.V., Willis Investment U.K. Holdings Limited, TA I Limited, Trinity Acquisition plc, Willis Group Limited, Willis Towers Watson Sub Holdings Unlimited Company and WTW Bermuda Holdings Ltd., collectively the ‘Other Guarantors’, and with Willis Towers Watson, the ‘Guarantor Companies’. The debt securities that were issued by Willis North America and guaranteed by the entities described above, and for which the disclosures set forth below relate and are required under applicable SEC rules, were issued under an effective registration statement. Presented below is condensed consolidating financial information for:
The equity method has been used for investments in subsidiaries in the condensed consolidating balance sheets of Willis Towers Watson, the Other Guarantors and the Issuer. Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Financial Information for Parent Issuer, Guarantor Subsidiaries and Non-Guarantor Subsidiaries On March 17, 2011, the Company issued senior notes totaling $800 million in a registered public offering. On March 15, 2016, $300 million of these senior notes was repaid leaving $500 million outstanding. These debt securities were issued by Willis Towers Watson (‘WTW Debt Securities’) and are guaranteed by certain of the Company’s subsidiaries. Therefore, the Company is providing the condensed consolidating financial information below. The following wholly owned subsidiaries (directly or indirectly) fully and unconditionally guarantee the WTW Debt Securities on a joint and several basis: Willis Netherlands Holdings B.V., Willis Investment U.K. Holdings Limited, TA I Limited, Trinity Acquisition plc, Willis Group Limited, Willis North America Inc., Willis Towers Watson Sub Holdings Unlimited Company and WTW Bermuda Holdings Ltd. (the ‘Guarantors’). The guarantor structure described above differs from the guarantor structure associated with the senior notes issued by Willis North America (the ‘Willis North America Debt Securities’) (and for which condensed consolidating financial information is presented in Note 21) in that Willis Towers Watson is the Parent Issuer and Willis North America is a subsidiary guarantor. Presented below is condensed consolidating financial information for:
The equity method has been used for investments in subsidiaries in the condensed consolidating balance sheets of Willis Towers Watson and the Guarantors. Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Financial Information for Issuer, Parent Guarantor, Other Guarantor Subsidiaries and Non-Guarantor Subsidiaries Trinity Acquisition plc has $2.1 billion of senior notes outstanding, of which $525 million were issued on August 15, 2013, $1.0 billion were issued on March 22, 2016 and €540 million ($609 million) were issued on May 26, 2016. All direct obligations under the senior notes are jointly and severally, irrevocably and fully and unconditionally guaranteed by Willis Netherlands Holdings B.V., Willis Investment U.K. Holdings Limited, TA I Limited, Willis Group Limited, Willis North America Inc., Willis Towers Watson Sub Holdings Unlimited Company and WTW Bermuda Holdings Ltd., collectively the ‘Other Guarantors’, and with Willis Towers Watson, the ‘Guarantor Companies’. The guarantor structure described above differs from the guarantor structure associated with the senior notes issued by the Company and Willis North America (the ‘Willis North America Debt Securities’) in that Trinity Acquisition plc is the issuer and not a subsidiary guarantor, and Willis North America Inc. is a subsidiary guarantor. Presented below is condensed consolidating financial information for:
The equity method has been used for investments in subsidiaries in the condensed consolidating balance sheets of Willis Towers Watson, the Other Guarantors and the Issuer. Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
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- References No definition available.
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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Basis of Presentation and Significant Accounting Policies (Policies) |
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Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||
Conforming reclassification | $84 million of Transaction and integration expenses from Salary and benefits and Other operating expenses of $3 million and $81 million, respectively. This reclassification was made to present information on a comparable basis. |
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Principles of Consolidation | Principles of Consolidation — The accompanying consolidated financial statements include the accounts of Willis Towers Watson and those of our majority-owned and controlled subsidiaries. Intercompany accounts and transactions have been eliminated. We determine whether we have a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity (‘VIE’). Variable interest entities are entities that lack one or more of the characteristics of a voting interest entity and therefore require a different approach in determining which party involved with the VIE should consolidate the entity. With a VIE, either the entity does not have sufficient equity at risk to finance its activities without additional subordinated financial support from other parties, or the equity holders, as a group, do not have the power to direct the activities that most significantly impact its financial performance, the obligation to absorb expected losses of the entity, or the right to receive the expected residual returns of the entity. The entity that has a controlling financial interest in a VIE is referred to as the primary beneficiary and is required to consolidate the VIE. Voting interest entities are entities that have sufficient equity and provide equity investors voting rights that give them the power to make significant decisions related to the entity’s operations. The usual condition for a controlling financial interest in a voting interest entity is ownership of a majority voting interest. Accordingly, we consolidate our voting interest entity investments in which we hold, directly or indirectly, more than 50% of the voting rights. |
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Use of Estimates | Use of Estimates — These consolidated financial statements conform to accounting principles generally accepted in the United States of America (‘U.S. GAAP’), which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Our estimates, judgments and assumptions are continually evaluated based on available information and experience. Because of the use of estimates inherent in the financial reporting process, actual results could differ from those estimates. Estimates are used when accounting for revenue recognition, the selection of useful lives of fixed and intangible assets, impairment testing, valuation of billed and unbilled receivables from clients, discretionary compensation, income taxes, pension assumptions, incurred but not reported claims, legal reserves and goodwill and intangible assets. |
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Going Concern | Going Concern — Management evaluates at each annual and interim period whether there are conditions or events, considered in the aggregate, that raise substantial doubt about our ability to continue as a going concern within one year after the date that the consolidated financial statements are issued. Management’s evaluation is based on relevant conditions and events that are known and reasonably knowable at the date that the consolidated financial statements are issued. Management has concluded that there are no conditions or events, considered in the aggregate, that raise substantial doubt about our ability to continue as a going concern within one year after the date of these financial statements. |
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Investments in Associates | Investments in Associates — Investments are accounted for using the equity method of accounting, included within other non-current assets in the consolidated balance sheets, if the Company has the ability to exercise significant influence, but not control, over the investee. Significant influence is generally deemed to exist if the Company has an equity ownership in the voting stock of the investee between 20 and 50 percent, although other factors, such as representation on the Board of Directors and the impact of commercial arrangements, are considered in determining whether the equity method of accounting is appropriate. Under the equity method of accounting, the investment is carried at the cost of acquisition, plus the Company’s equity in undistributed net income since acquisition, less any dividends received since acquisition. The Company periodically reviews its investments in associates for which fair value is less than cost to determine if the decline in value is other than temporary. If the decline in value is judged to be other than temporary, the cost basis of the investment is written down to fair value. The amount of any write-down is included in the consolidated statements of operations. |
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Cash and Cash Equivalents | Cash and Cash Equivalents — Cash and cash equivalents primarily consist of time deposits with original maturities of 90 days or less. Willis Limited, our U.K. brokerage subsidiary regulated by the Financial Conduct Authority, is currently required to maintain $140 million in unencumbered and available funds, of which at least $79 million must be in cash, for regulatory purposes. Term deposits and certificates of deposits with original maturities greater than 90 days are considered to be short-term investments. There is no restricted cash included in our cash and cash equivalents balance, as these amounts are included in fiduciary assets. |
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Fiduciary Assets and Liabilities | Fiduciary Assets and Liabilities — Fiduciary funds represent unremitted premiums received from insureds and unremitted claims or refunds received from insurers. Fiduciary funds are generally required to be kept in certain regulated bank accounts subject to guidelines which emphasize capital preservation and liquidity. Such funds are not available to service the Company’s debt or for other corporate purposes. Notwithstanding the legal relationships with insureds and insurers, the Company is entitled to retain investment income earned on fiduciary funds in accordance with industry custom and practice and, in some cases, as supported by agreements with insureds. The period for which the Company holds such funds is dependent upon the date the insured remits the payment of the premium to the Company, or the date the Company receives refunds from the insurers, and the date the Company is required to forward such payment to the insurer, or insured, respectively. In certain instances, the Company advances premiums, refunds or claims to insurance underwriters or insureds prior to collection. Such advances are made from fiduciary funds and are reflected in the consolidated balance sheets as fiduciary assets. Fiduciary liabilities represent the obligations to remit fiduciary funds and fiduciary receivables to insurers or insureds. Certain of our health and welfare benefits administration outsourcing agreements require us to hold funds on behalf of clients to pay obligations on their behalf. These amounts are included in fiduciary assets and fiduciary liabilities on the consolidated balance sheets. |
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Accounts Receivable | Accounts Receivable — Accounts receivable includes both billed and unbilled receivables and is stated at estimated net realizable values. Provision for billed receivables is recorded, when necessary, in an amount considered by management to be sufficient to meet probable future losses related to uncollectible accounts. Accrued and unbilled receivables are stated at net realizable value which includes an allowance for accrued and unbillable amounts. |
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Income Taxes | Income Taxes — The Company recognizes deferred tax assets and liabilities for the estimated future tax consequences of events attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating and capital loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted rates in effect for the year in which the differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of changes in tax rates is recognized in the consolidated statement of operations in the period in which the change is enacted. Deferred tax assets are reduced through the establishment of a valuation allowance at such time as, based on available evidence, it is more likely than not that the deferred tax assets will not be realized. The Company adjusts valuation allowances to measure deferred tax assets at the amounts considered realizable in future periods if the Company’s facts and assumptions change. In making such determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and the results of recent financial operations. We place more reliance on evidence that is objectively verifiable. Positions taken in the Company’s tax returns may be subject to challenge by the taxing authorities upon examination. The Company recognizes the benefit of uncertain tax positions in the financial statements when it is more likely than not that the position will be sustained on the basis of the technical merits of the position assuming the tax authorities have full knowledge of the position and all relevant facts. Recognition also occurs upon either the lapse of the relevant statute of limitations, or when positions are effectively settled. The benefit recognized is the largest amount of tax benefit that is greater than 50 percent likely to be realized on settlement with the tax authority. The Company adjusts its recognition of uncertain tax benefits in the period in which new information is available impacting either the recognition or measurement of its uncertain tax positions. Such adjustments are reflected as increases or decreases to income taxes in the period in which they are determined. The Company recognizes interest and penalties relating to unrecognized tax benefits within income taxes. |
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Foreign Currency | Foreign Currency — Transactions in currencies other than the functional currency of the entity are recorded at the rates of exchange prevailing at the date of the transaction. Monetary assets and liabilities in currencies other than the functional currency are translated at the rates of exchange prevailing at the balance sheet date and the related transaction gains and losses are reported in the consolidated statements of operations. Certain intercompany loans are determined to be of a long-term investment nature. The Company records transaction gains and losses from remeasuring such loans in the consolidated statements of comprehensive income/(loss). Upon consolidation, the results of operations of subsidiaries and associates whose functional currency is other than the U.S. dollar are translated into U.S. dollars at the average exchange rates and assets and liabilities are translated at year-end exchange rates. Translation adjustments are presented as a separate component of other comprehensive income in the financial statements and are included in net income only upon sale or liquidation of the underlying foreign subsidiary or associated company. |
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Derivatives | Derivatives — The Company uses derivative financial instruments for other than trading purposes to alter the risk profile of an existing underlying exposure. Interest rate swaps have been used to manage interest risk exposures. Forward foreign currency exchange contracts are used to manage currency exposures arising from future income and expenses. The fair values of derivative contracts are recorded in other assets and other liabilities. The effective portions of changes in the fair value of derivatives that qualify for hedge accounting as cash flow hedges are recorded in other comprehensive income. Amounts are reclassified from other comprehensive income into earnings when the hedged exposure affects earnings. If the derivative is designated as, and qualifies as, an effective fair value hedge, the changes in the fair value of the derivative and of the hedged item attributable to the hedged risk are both recognized in earnings. The amount of hedge ineffectiveness recognized in earnings is based on the extent to which an offset between the fair value of the derivative and hedged item is not achieved. Changes in fair value of derivatives that do not qualify for hedge accounting, together with any hedge ineffectiveness on those that do qualify, are recorded in other operating expenses or interest expense as appropriate. The Company evaluates whether its contracts include clauses or conditions which would be required to be separately accounted for at fair value as embedded derivatives. |
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Commitments, Contingencies and Accrued Liabilities | Commitments, Contingencies and Provisions for Liabilities — The Company establishes provisions against various actual and potential claims, lawsuits and other proceedings relating principally to alleged errors and omissions in the ordinary course of business. Such provisions cover claims that have been reported but not paid and also unasserted claims and related legal fees. These provisions are established based on actuarial estimates together with individual case reviews and are believed to be adequate in the light of current information and legal advice. In certain cases, where a range of loss exists, we accrue the minimum amount in the range if no amount within the range is a better estimate than any other amount. To the extent such losses can be recovered under the Company’s insurance programs, estimated recoveries are recorded when losses for insured events are recognized and the recoveries are likely to be realized. Significant management judgment is required to estimate the amounts of such unasserted claims and the related insurance recoveries. The Company analyzes its litigation exposure based on available information, including consultation with outside counsel handling the defense of these matters, to assess its potential liability. These contingent liabilities are not discounted. |
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Share-Based Compensation | Share-Based Compensation — The Company has equity-based compensation plans that provide for grants of restricted stock units and stock options to employees and non-employee directors of the Company who perform services for the Company. The Company expenses equity-based compensation, which is included in Salaries and benefits in the consolidated statements of operations, primarily on a straight-line basis over the requisite service period based upon the fair value of the award on the date of grant, the estimated achievement of any performance targets and anticipated staff retention. The awards under equity-based compensation are classified as equity and included as a component of equity on the Company’s consolidated balance sheets, as the ultimate payment of such awards will not be achieved through use of the Company’s cash or other assets. |
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Fixed Assets | Fixed Assets — Fixed assets are stated at cost less accumulated depreciation. Expenditures for improvements are capitalized; repairs and maintenance are charged to expenses as incurred. Depreciation is computed primarily using the straight-line method based on the estimated useful lives of assets. Depreciation on internally developed software is amortized over the estimated useful life of the asset ranging from 3 to 10 years. Buildings include assets held under capital leases and are depreciated over the lesser of 50 years, the asset lives or the lease terms. Depreciation on leasehold improvements is calculated over the lesser of the useful lives of the assets or the remaining lease terms. Depreciation on furniture and equipment is calculated based on a range of 3 to 10 years. Land is not depreciated. Long-lived assets are tested for recoverability whenever events or changes in circumstance indicate that their carrying amounts may not be recoverable. An impairment loss is recognized if the carrying amount of a long-lived asset is not recoverable and exceeds its fair value. Recoverability is determined based on the undiscounted cash flows expected to result from the use and eventual disposition of the asset or asset group. Long-lived assets and certain identifiable intangible assets to be disposed of are reported at the lower of carrying amount or fair value less cost to sell. |
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Operating Leases | Operating Leases —Rentals payable on operating leases are charged straight line to Other operating expenses in the consolidated statements of operations over the lease term. |
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Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets — In applying the acquisition method of accounting for business combinations, amounts assigned to identifiable assets and liabilities acquired were based on estimated fair values as of the date of acquisition, with the remainder recorded as goodwill. Intangible assets are initially valued at fair value using generally accepted valuation methods appropriate for the type of intangible asset. Intangible assets with definite lives are amortized over their estimated useful lives and are reviewed for impairment if indicators of impairment arise. Intangible assets with indefinite lives (currently only acquired software that is in the in-process research and development stage) are tested for impairment annually as of October 1, and whenever indicators of impairment exist. The fair values of intangible assets are compared with their carrying values, and an impairment loss would be recognized for the amount by which a carrying amount exceeds its fair value. Acquired intangible assets are amortized over the following periods:
Goodwill is tested for impairment annually as of October 1, and whenever indicators of impairment exist. Goodwill is tested at the reporting unit level, and the Company had eight reporting units as of October 1, 2016. In the first step of the impairment test, the fair value of each reporting unit is compared with its carrying value, including goodwill. If the carrying value of a reporting unit exceeds its fair value, the amount of an impairment loss, if any, is calculated in the second step of the impairment test by comparing the implied fair value of reporting unit goodwill with the carrying amount of that goodwill. The Company’s goodwill impairment tests for the years ended December 31, 2016 and 2015 have not resulted in any impairment charges. |
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Pensions | Pensions — The Company has multiple defined benefit pension and defined contribution plans. The net periodic cost of the Company’s defined benefit plans are measured on an actuarial basis using various methods and actuarial assumptions. The most significant assumptions are the discount rates (calculated from the 2016 fiscal year and forward using the granular approach to calculating service and interest cost) and the expected long-term rates of return on plan assets. Other material assumptions include rates of participant mortality, the expected long-term rates of compensation and pension increases and rates of employee termination. Gains and losses occur when actual experience differs from actuarial assumptions. If such gains or losses exceed ten percent of the greater of plan assets or plan liabilities, the Company amortizes those gains or losses over the average remaining service period or average remaining life expectancy, as appropriate, of the plan participants. In accordance with U.S. GAAP, the Company records on its consolidated balance sheets the funded status of its pension plans based on the projected benefit obligation. Contributions to the Company’s defined contribution plans are recognized as incurred. Differences between contributions payable in the year and contributions actually paid are shown as either other assets or other liabilities in the consolidated balance sheets. |
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Revenue Recognition | Revenue Recognition — Revenues include insurance commissions, fees in lieu of commission, fees for consulting services rendered, hosted and delivered software, survey sales, interest and other income. Revenue recognized in excess of billings is recorded as unbilled accounts receivable. Cash collections in excess of revenue recognized are recorded as deferred revenue until the revenue recognition criteria are met. Client reimbursable expenses, including those relating to travel, other out-of-pocket expenses and any third-party costs, are included in revenue, and an equivalent amount of reimbursable expenses is included in other operating expenses as a cost of revenue. Commissions and fees Commissions revenue. Brokerage commissions and fees negotiated in lieu of commissions are recognized at the later of the policy inception date or when the policy placement is complete. In situations in which our fees are not fixed and determinable due to the uncertainty of the commission fee per policy, we recognize revenue as the fees are determined. Commissions on additional premiums and adjustments are recognized when approved by or agreed between the parties and collectability is reasonably assured. Consulting revenue. The majority of our consulting revenues consists of fees earned from providing consulting services. We recognize revenues from these consulting engagements when hours are worked, either on a time-and-expense basis or on a fixed-fee basis, depending on the terms and conditions defined at the inception of an engagement with a client. We have engagement letters with our clients that specify the terms and conditions upon which the engagements are based. These terms and conditions can only be changed upon agreement by both parties. Individual billing rates are principally based on a multiple of salary and compensation costs. Revenues for fixed-fee arrangements are based upon the proportional performance method to the extent estimates can be made of the remaining work required under the arrangement. If we do not have sufficient information to estimate proportional performance, we recognize the fees straight-line over the contract period. We typically have four types of fixed-fee arrangements: annual recurring projects, projects of a short duration, stand-ready obligations and non-recurring system projects.
Revenue recognition for fixed-fee engagements is affected by a number of factors that change the estimated amount of work required to complete the project such as changes in scope, the staffing on the engagement and/or the level of client participation. The periodic engagement evaluations require us to make judgments and estimates regarding the overall profitability and stage of project completion that, in turn, affect how we recognize revenue. We recognize a loss on an engagement when estimated revenues to be received for that engagement are less than the total estimated costs associated with the engagement. Losses are recognized in the period in which the loss becomes probable and the amount of the loss is reasonably estimable. Hosted software. We have developed various software programs and technologies that we provide to clients in connection with consulting services. In most instances, such software is hosted and maintained by us and ownership of the technology and rights to the related code remain with us. We defer costs for software developed to be utilized in providing services to a client, but for which the client does not have the contractual right to take possession, during the implementation stage. We recognize these deferred costs from the go live date, signaling the end of the implementation stage, until the end of the initial term of the contract with the client. We determined that the system implementation and customized ongoing administrative services are one combined service. Revenue is recognized over the service period, after the go live date, in proportion to the services performed. As a result, we do not recognize revenue during the implementation phase of an engagement. Delivered software. We deliver software under arrangements with clients who take possession of our software. The maintenance associated with the initial software fees is a fixed percentage which enables us to determine the stand-alone value of the delivered software separate from the maintenance. We recognize the initial software fees as software is delivered to the client and we recognize the maintenance ratably over the contract period based on each element’s relative fair value. For software arrangements in which initial fees are received in connection with mandatory maintenance for the initial software license to remain active, we determined that the initial maintenance period is substantive. Therefore, we recognize the fees for the initial license and maintenance bundle ratably over the initial contract term, which is generally one year. Each subsequent renewal fee is recognized ratably over the contractually stated renewal period. Surveys. We collect, analyze and compile data in the form of surveys for our clients who have the option of participating in the survey. The surveys are published online via a web tool that provides simplistic functionality. We have determined that the web tool is inconsequential to the overall arrangement. We record the survey revenues when the results are delivered online and made available to our clients who have a contractual right to the data. If the data is updated more frequently than annually, we recognize the survey revenues ratably over the contractually stated period. Interest and other income Interest income. Interest income is recognized as earned. Other Income. Other income includes gains on disposal of intangible assets, which primarily arise from settlements through enforcing non-compete agreements in the event of losing accounts through producer defection or the disposal of books of business. |
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Recent Accounting Pronouncements | Recent Accounting Pronouncements Not yet adopted In May 2014, the Financial Accounting Standards Board (‘FASB’) issued Accounting Standard Update (‘ASU’) No. 2014-09 ‘Revenue From Contracts With Customers’. The new standard supersedes most current revenue recognition guidance and eliminates industry-specific guidance. The ASU is based on the principle that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to fulfill a contract. Entities have the option of using either a full retrospective or a modified retrospective approach for the adoption of the new standard. Additional ASUs have since been issued, all of which provide additional guidance, examples and technical corrections for the implementation of ASU No. 2014-09. The guidance is effective for the Company at the beginning of its 2018 fiscal year, with early adoption permitted. While we are still in the process of analyzing our various revenue streams to determine the full impact this standard will have on our revenue recognition, cost deferral, systems and processes, the Company has determined the following:
The Company continues to update its assessment of the impacts of the accounting standard, and related updates, to the consolidated financial statements, and will note material impacts when known. In February 2016, the FASB issued ASU No. 2016-02 ‘Leases’, which requires a lessee to recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. The ASU becomes effective for the Company at the beginning of the 2019 fiscal year and early adoption is permitted. In transition, the Company is required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach, which includes a number of optional practical expedients. While the Company continues to assess the impact of the ASU to the consolidated financial statements, the majority of our leases are currently considered operating leases and will be capitalized as a lease asset on our balance sheet with a related lease liability for the obligated lease payments. In March 2016, the FASB issued ASU No. 2016-09 ‘Compensation - Stock Compensation’, which simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The ASU becomes effective for the Company at the beginning of the 2017 fiscal year and early adoption is permitted. Certain applications of the ASU are to be applied prospectively or retrospectively with a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. The Company is currently assessing the impact that this standard will have on its consolidated financial statements. In August 2016, the FASB issued ASU No. 2016-15 ‘Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments’, which amends guidance on presentation and classification of eight specific cash flow issues with the objective of reducing diversity in practice. The ASU becomes effective for the Company at the beginning of 2018. Early adoption is permitted and any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. An entity that elects early adoption must adopt all of the amendments in the same period. The Company is still assessing the impact of this ASU, but we believe the impact on our financial statements will be immaterial as we are largely in compliance with its requirements. In October 2016, the FASB issued ASU No. 2016-16 ‘Income Taxes’, which amends guidance regarding the recognition of current and deferred income taxes for intra-entity asset transfers. Current U.S. GAAP prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party. The ASU states that an entity should recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. The amendments in this ASU should be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company intends to early adopt this standard on January 1, 2017. The cumulative-effect adjustment will be immaterial to the consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-01 ‘Business Combinations - Clarifying the Definition of a Business’, which clarifies the definition of a business, to assist with the evaluation of whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendments in this ASU include the provision of a screen to determine when an integrated set of assets and activities is not a business; that is, when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset (or a group of similar identifiable assets), the set is not a business. This screen reduces the number of transactions that need to be further evaluated. The ASU becomes effective for the Company at the beginning of 2018. The amendments in this ASU should be applied prospectively. Early adoption is permitted for acquisitions (or disposals) that have not already been reported in the financial statements. The Company is currently assessing the impact that this ASU will have on its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04 ‘Simplifying the Test for Goodwill Impairment’, which simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. In computing the implied fair value of goodwill under Step 2, current U.S. GAAP requires the performance of procedures to determine the fair value at the impairment testing date of assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, the amendments under this ASU require the goodwill impairment test to be performed by comparing the fair value of a reporting unit with its carrying amount. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The ASU becomes effective for the Company at the beginning of 2020. The amendments in this ASU should be applied on a prospective basis. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company does not expect an immediate impact to its consolidated financial statements upon adopting this ASU since the most recent Step 1 goodwill impairment test resulted in fair values exceeding carrying values for all reporting units at October 1, 2016. Adopted In May 2015, the FASB issued ASU No. 2015-07, ‘Fair Value Measurement - Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent)’, which simplifies reporting requirements and modifies those investments required to be classified within the fair value hierarchy. Certain investments measured at fair value using the Net Asset Value (‘NAV’) practical expedient are no longer required to be classified as a Level within the fair value hierarchy table. Entities will be required to include in their disclosure, the fair value of the investments using the NAV practical expedient so that financial statement users can reconcile amounts reported in the fair value hierarchy table to amounts reported on the balance sheet. The ASU is to be applied retrospectively in all periods presented in an entity’s financial statements. The Company adopted this standard on January 1, 2016. The adoption has been reflected in the fair value tables in Note 12 — Retirement Benefits to these financial statements. In September 2015, the FASB issued ASU No. 2015-16 ‘Simplifying the Accounting for Measurement-Period Adjustments’ in relation to business combinations, which requires that an acquirer recognize adjustments to provisional amounts that are identified in the measurement period in the reporting period in which the adjustment amounts are determined. The Company adopted this standard on January 1, 2016. Adjustments made to provisional amounts related to business combinations are reflected in the consolidated financial statements and disclosed in Note 8 — Goodwill and Other Intangible Assets and Note 3 — Merger and Acquisitions to these consolidated financial statements. |
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- References No definition available.
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- Definition Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for commitments and contingencies, which may include policies for recognizing and measuring loss and gain contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for its derivative instruments and hedging activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for the equity method of accounting for investments in common stock or other interests including unconsolidated subsidiaries, corporate joint ventures, noncontrolling interests in real estate ventures, limited partnerships, and limited liability companies. The accounting policy may include information such as: (1) initially recording an investment in the stock of an investee at cost; (2) adjusting the carrying amount of the investment to recognize the investor's share of the earnings or losses of the investee after the date of acquisition; and (3) adjustments to reflect the investor's share of changes in the investee's capital (dividends). This disclosure may also include a detailed description of the policy for determining the amount of equity method losses recognized after an investment has been reduced to zero as a result of previous losses, reasons for not using the equity method when the investor company owns 20 percent or more of the voting stock of the investee's company (including identification of the significant investee), reasons for using the equity method when the ownership percentage is less than 20 percent, and discussion of recognition of equity method losses when an investor's total investment in an investee includes, in addition to an investment in common stock, other investments such as preferred stock and loans to the investee. An entity also may describe how such investments are assessed for impairment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for goodwill and intangible assets. This accounting policy also may address how an entity assesses and measures impairment of goodwill and intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for leasing arrangements (both lessor and lessee). This disclosure may address (1) lease classification (that is, operating versus capital), (2) how the term of a lease is determined (for example, the circumstances in which a renewal option is considered part of the lease term), (3) how rental revenue or expense is recognized for a lease that contains rent escalations, (4) an entity's accounting treatment for deferred rent, including that which arises from lease incentives, rent abatements, rent holidays, or tenant allowances (5) an entity's accounting treatment for contingent rental payments and (6) an entity's policy for reviewing, at least annually, the residual values of sales-type and direct-finance leases. The disclosure also may indicate how the entity accounts for its capital leases, leveraged leases or sale-leaseback transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact. No definition available.
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- Definition Disclosure of accounting policy for pension plans. This accounting policy may address (1) the types of plans sponsored by the entity (2) groups that participate in (or are covered by) each plan (3) how plan assets, liabilities and expenses are measured, including the use of any actuaries and (4) significant assumptions used by the entity to value plan assets and liabilities and how such assumptions are derived. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for reclassifications that affects the comparability of the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, basis of assets, depreciation and depletion methods used, including composite deprecation, estimated useful lives, capitalization policy, accounting treatment for costs incurred for repairs and maintenance, capitalized interest and the method it is calculated, disposals and impairments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for trade and other accounts receivables. This disclosure may include the basis at which such receivables are carried in the entity's statements of financial position (for example, net realizable value), how the entity determines the level of its allowance for doubtful accounts, when impairments, charge-offs or recoveries are recognized, and the entity's income recognition policies for such receivables, including its treatment of related fees and costs, its treatment of premiums, discounts or unearned income, when accrual of interest is discontinued, how the entity records payments received on nonaccrual receivables and its policy for resuming accrual of interest on such receivables. If the enterprise holds a large number of similar loans, disclosure may include the accounting policy for the anticipation of prepayments and significant assumptions underlying prepayment estimates for amortization of premiums, discounts, and nonrefundable fees and costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for fiduciary assets and liabilities i.e. balances that have been or are due to be collected or remitted to insurers and/or insured in the Company's capacity as an insurance broker or agent. No definition available.
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- Definition Going Concern [Policy Text Block] No definition available.
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Basis of Presentation and Significant Accounting Policies (Tables) |
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Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination | Acquired intangible assets are amortized over the following periods:
The acquired intangible assets are attributable to the following categories:
The acquired intangible assets are attributable to the following categories:
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- References No definition available.
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- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Merger and Acquisitions (Tables) |
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Business Combinations [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preliminary Calculation of Aggregate Merger Consideration | The table below presents the calculation of aggregate Merger Consideration.
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Schedule of Fair Values of the Identifiable Assets Acquired and Liabilities Assumed | A summary of the fair values of the identifiable assets acquired, and liabilities assumed, of Towers Watson at January 4, 2016 are summarized in the following table.
The following table presents the Company’s allocation of the purchase price to the assets acquired and liabilities assumed based on their fair values:
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Schedule of Acquired Intangible Assets | Acquired intangible assets are amortized over the following periods:
The acquired intangible assets are attributable to the following categories:
The acquired intangible assets are attributable to the following categories:
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Unaudited Pro Forma Financial Information | The following pro forma financial information is unaudited and is intended to reflect the impact of the Merger on Willis Towers Watson’s consolidated financial statements as if the Merger had taken place on January 1, 2015 and presents the results of operations of Willis Towers Watson based on the historical financial statements of Willis and Towers Watson after giving effect to the Merger and pro forma adjustments. Pro forma adjustments are included only to the extent they are (i) directly attributable to the Merger, (ii) factually supportable and (iii) with respect to the consolidated statement of operations, expected to have a continuing impact on the combined results. The accompanying unaudited pro forma financial information is presented for illustrative purposes only and has not been adjusted to give effect to certain expected financial benefits of the Merger, such as revenue synergies, tax savings and cost synergies, or the anticipated costs to achieve these benefits, including the cost of integration activities. The unaudited pro forma results are not indicative of what would have occurred had the Merger taken place on the indicated date.
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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Segment Information (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue (Net of Reimbursable Expenses) of the Reported Segments | The table below presents segment commissions and fees, segment interest and other income, segment revenues, and segment operating income for our reportable segments for the years ended December 31, 2016, 2015, and 2014, respectively:
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Net Operating Income of the Reported Segments | The table below presents a reconciliation of the information reported by segment to the consolidated amounts reported for the years ended December 31, 2016, 2015, and 2014, respectively:
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Revenue and Long-lived Assets by Geographical Areas | Below are our revenues and long-lived assets by legal entity for Ireland, our country of domicile, countries with significant concentrations, and all other foreign countries for each of the years ended December 31, 2016, 2015 and 2014:
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X | ||||||||||
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- References No definition available.
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Restructuring Costs (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Analysis of the Cost for Restructuring | An analysis of our total restructuring costs recorded in the statements of operations, and the costs by segment, and costs attributable to corporate functions, for the years ended December 31, 2016, 2015, and 2014 are as follows:
___________________
An analysis of the total cumulative restructuring costs recognized for the BRP from commencement to December 31, 2016 by segment, and those costs attributable to corporate functions, are as follows:
____________________
An analysis of the total cumulative restructuring costs recognized for the OIP from commencement to December 31, 2016 by segment, and costs attributable to corporate functions, are as follows:
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Schedule of Restructuring Liability | At December 31, 2016, the Company’s liability under the OIP is as follows:
At December 31, 2016, the Company’s liability under the BRP is as follows:
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Income Taxes (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income from continuing operations before income taxes and interest in earnings of associates by location of taxing jurisdiction | An analysis of income/(loss) before income taxes by taxing jurisdiction is shown below:
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Provision for income taxes by location of the taxing jurisdiction | The components of the income tax provision for continuing operations include:
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Reconciliation between US federal income taxes at the statutory rate and the Company's provision for income taxes on continuing operations | The reported income tax provision for continuing operations differs from the amounts that would have resulted had the reported income before income taxes been taxed at the U.S. federal statutory rate. The principal reasons for the differences between the amounts provided and those that would have resulted from the application of the U.S. federal statutory tax rate are as follows:
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Significant components of deferred income tax assets and liabilities and their balance sheet classifications | Deferred income tax assets and liabilities included in the consolidated balance sheets at December 31, 2016 and 2015 are comprised of the following:
The net deferred income tax assets are included in other non-current assets and the net deferred tax liabilities are included in deferred tax liabilities in our balance sheets.
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Summary of Valuation Allowance | An analysis of our valuation allowance is shown below.
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Reconciliation of the beginning and ending amounts of unrecognized tax benefits | A reconciliation of the beginning and ending balances of the liability for unrecognized tax benefits is as follows:
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Summary of Income Tax Examinations |
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of the change in unrecognized tax benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of income tax examinations that an enterprise is currently subject to or that have been completed in the current period typically including a description of the examination, the jurisdiction conducting the examination, the tax year(s) under examination, the likelihood of an unfavorable settlement, the range of possible losses, the liability recorded, the increase or decrease in the liability from the prior period, and any penalties and interest that have been recorded. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Fixed Assets (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment | The following table reflects changes in the net carrying amount of the components of fixed assets for the year ended December 31, 2016 and 2015:
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Capital Leases | Included within land and buildings are the following assets held under capital leases:
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Tabular disclosure of long-lived, depreciable assets that are subject to a lease meeting the criteria for capitalization and are used in the normal conduct of business to produce goods and services. Examples may include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Goodwill and Other Intangible Assets, Net (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Components of Goodwill | The components of goodwill are outlined below for the years ended December 31, 2016 and 2015:
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Changes in the Net Carrying Amount of the Components of Finite-Lived Intangible Assets | The following table reflects changes in the net carrying amount of the components of finite-lived intangible assets for the year ended December 31, 2016:
The following table reflects changes in the net carrying amount of the components of finite-lived intangible assets for the year ended December 31, 2015:
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Schedule of Carrying Values of Finite-Lived Intangible Assets and Liabilities | The following table reflects the carrying value of finite-lived intangible assets and liabilities as of December 31, 2016 and December 31, 2015:
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Schedule of Future Amortization Expense and Rent Offset | The table below reflects the future estimated amortization expense for amortizable intangible assets and the rent offset resulting from amortization of the net lease intangible assets and liabilities for the next five years are as follows:
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Schedule of Finite-Lived Intangible Assets and Liabilities [Table Text Block] No definition available.
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Derivative Financial Instruments (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Derivative Instruments | The material effects of derivative instruments that are designated as hedging instruments on the consolidated statements of operations for the years ended December 31, 2016, 2015 and 2014 are as follows:
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Debt (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Debt | Short-term debt and current portion of long-term debt consists of the following:
Long-term debt consists of the following:
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Schedule of Maturities of Long-term Debt | The following table summarizes the maturity of our debt, interest on senior notes and excludes any reduction for debt issuance costs:
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Schedule Of Debt Interest Expense | The following table shows an analysis of the interest expense for the years ended December 31:
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of interest income and expense, including, but not limited to, interest income and expense from investments, loans, and securities. No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Fair Value Measurements (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis | The following presents our assets and liabilities measured at fair value on a recurring basis at December 31, 2016 and December 31, 2015:
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Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation |
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Schedule of Liabilities Whose Carrying Values Differ From the Fair Value and are Not Measured on a Recurring Basis | The following presents our liabilities not measured at fair value on a recurring basis at December 31, 2016 and 2015:
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X | ||||||||||
- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Retirement Benefits (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Compensation and Retirement Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Changes in Projected Benefit Obligations | The following schedules provide information concerning the defined benefit pension plans and PRW plan as of and for the years ended December 31 2016 and 2015:
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Schedule of Amounts Recognized in Other Comprehensive Income (Loss) | Amounts recognized in accumulated other comprehensive loss as of December 31, 2016 and 2015 consist of:
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Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets | The following table presents the projected benefit obligation and fair value of plan assets for our plans that have a projected benefit obligation in excess of plan assets as of December 31, 2016 and 2015:
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Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets | The following table presents the projected benefit obligation, accumulated benefit obligation and fair value of plan assets for our plans that have an accumulated benefit obligation in excess of plan assets as of December 31, 2016 and 2015.
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Schedule of Net Periodic Benefit Cost | The components of the net periodic benefit income and other amounts recognized in other comprehensive (income)/loss for the years ended December 31, 2016, 2015 and 2014 for the defined benefit plans and PRW plan are as follows:
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Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year | The estimated net actuarial loss and prior service cost for the defined benefit plans that will be amortized from accumulated other comprehensive loss into net periodic benefit cost over the next fiscal year are:
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Schedule of Assumptions Used | The assumptions used to determine net periodic benefit cost for the fiscal years ended December 31, 2016, 2015 and 2014 were as follows:
____________________
The following table presents the assumptions used in the valuation to determine the projected benefit obligation for the fiscal years ended December 31, 2016 and 2015:
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Schedule of Allocation of Plan Assets | The Company’s pension plan asset target allocations as of December 31, 2016 were as follows:
The fair values of our U.S. plan assets by asset category at December 31, 2016 and 2015 are as follows:
The fair values of our U.K. plan assets by asset category at December 31, 2016 and 2015 are as follows:
The fair values of our Other plan assets by asset category at December 31, 2016 and 2015 are as follows:
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Schedule of Net Plan Investments Reconciliation To Total Fair Value Of Plan Assets | The following table reconciles the net plan investments to the total fair value of the plan assets:
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Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets | The following table sets forth a summary of changes in the fair value of the plans’ Level 3 assets for the fiscal year ended December 31, 2016:
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Schedule of Accumulated and Projected Benefit Obligations | The following table sets forth our projected pension contributions to our qualified plans for fiscal year 2017, as well as the pension contributions to our qualified plans in fiscal years 2016 and 2015:
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Schedule of Expected Benefit Payments | Expected benefit payments from our defined benefit pension plans to current plan participants, including the effect of their expected future service, as appropriate, are as follows:
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of accumulated benefit obligations and fair values of plan assets of pension plans and/or other employee benefit plans where the accumulated benefit obligation exceeds the fair value of plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Tabular disclosure of the amounts related to pension plans and/or other employee benefit plans in accumulated other comprehensive income (loss) expected to be recognized as components of net periodic benefit cost over the next fiscal year, including the net gain (loss), net prior service cost or credit, and net transition asset or obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Tabular disclosure of the aggregate benefit obligation and aggregate fair value of plan assets for pension plans and/or other employee benefit plans with benefit obligations in excess of plan assets as of the measurement date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Tabular disclosure of the change in the benefit obligation of pension plans and/or other employee benefit plans from the beginning to the end of the period, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of the effect of fair value measurements using significant unobservable inputs (Level 3) on changes in plan assets of pension plans and/or other employee benefit plans for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Schedule Of Net Plan Investments Reconciliation To Total Fair Value Of Plan Assets [Table Text Block] No definition available.
|
X | ||||||||||
- Definition Schedule Of Projected Pension Contributions No definition available.
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Commitments and Contingencies (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Future minimum rental commitments under all non-cancellable operating lease agreements | As of December 31, 2016, the aggregate future minimum rental commitments under all non-cancellable operating lease agreements are as follows:
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Supplementary Information for Select Balance Sheet Accounts (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Accounts Receivable, Net | Accounts receivable, net consists of the following:
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Schedule of Credit Losses for Financing Receivables, Current | Accounts receivable are stated at estimated net realizable values. The provisions shown below as of the end of each period, are recorded as the amounts considered by management to be sufficient to meet probable future losses related to uncollectible accounts.
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Schedule of Prepaid and Other Current Assets | Prepaid and other current assets consist of the following:
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Schedule of Other Non-current Assets | Other non-current assets consist of the following:
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Schedule of Other Current Liabilities | Other current liabilities consist of the following:
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Analysis of Movements on Provisions for Liabilities | Provision for liabilities consists of the following:
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Schedule of Other Non-Current Liabilities | Other non-current liabilities consist of the following:
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of other current liabilities. No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of other noncurrent liabilities. No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of credit losses for current financing receivables (such as trade and accounts receivable), including a rollforward of the balance. An alternative caption includes allowance for doubtful accounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Tabular disclosure of noncurrent assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Tabular disclosure of the carrying amounts of other current assets. No definition available.
|
X | ||||||||||
- Definition Analysis of movements on provisions for liabilities. No definition available.
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Other Expense/(Income), Net (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Income and Expenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Other Nonoperating Expense/(Income) | Other expense/(income), net consists of the following:
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of the components of non-operating income or non-operating expense that may include amounts earned from dividends, interest on securities, gains (losses) on securities sold, equity earnings of unconsolidated affiliates, net gain (loss) on sales of business, interest expense and other miscellaneous income or expense items. No definition available.
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Accumulated Other Comprehensive Loss (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Comprehensive Income (Loss) | The components of other comprehensive income/(loss) are as follows:
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Schedule of Accumulated Other Comprehensive Income (Loss) | The components of accumulated other comprehensive loss, net of tax, are as follows:
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Share-Based Compensation (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Assumptions Used on Options | The assumptions noted in the table below represent the weighted-average of each assumption for each grant during the year.
The fair value of each option is estimated on the date of grant using the Black-Scholes option pricing model that uses the assumptions noted in the following table. Expected volatility is based on historical volatility of the Company’s shares. The Company uses the simplified method set out in ASC 718 – Compensation – Stock Compensation to derive the expected term of options granted as it does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate the expected term. The risk-free rate for periods within the expected life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The assumptions noted in the table below represent the weighted-average of each assumption for each grant during the year.
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Schedule of Share-based Compensation, Stock Options, Activity | A summary of option activity under the plans at December 31, 2016, and changes during the year then ended is presented below:
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Schedule of Share-based Compensation, Restricted Stock Units Award Activity | A summary of time-based and performance-based restricted stock unit activity under the Plans at December 31, 2016, and changes during the year then ended, is presented below:
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Earnings Per Share (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Basic and Diluted Earnings Per Share | Basic and diluted earnings per share are as follows:
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X | ||||||||||
- References No definition available.
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Supplemental Disclosures of Cash Flow Information (Tables) |
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Supplemental Cash Flow Elements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Supplemental disclosures regarding cash flow information and non-cash flow investing and financing activities | Supplemental disclosures regarding cash flow information and non-cash investing and financing activities are as follows:
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- Definition Tabular disclosure of supplemental cash flow information for the periods presented. No definition available.
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- References No definition available.
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Quarterly Financial Data (Unaudited) (Tables) |
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Quarterly financial data | Quarterly financial data for 2016 and 2015 were as follows:
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- References No definition available.
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- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Financial Information for Parent Guarantor, Other Guarantor Subsidiaries and Non-Guarantor Subsidiaries (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unaudited Condensed Consolidated Statement of Operations | Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Operations
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Unaudited Condensed Consolidated Statement of Comprehensive Income | Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Comprehensive Income/(Loss)
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Unaudited Condensed Consolidated Balance Sheet | Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet
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Unaudited Condensed Consolidated Statement of Cash Flows | Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Tabular disclosure of condensed statement of comprehensive income (loss) including, but not limited to, statements of comprehensive income (loss) of consolidated entities and consolidation eliminations. No definition available.
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X | ||||||||||
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. No definition available.
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X | ||||||||||
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. No definition available.
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X | ||||||||||
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. No definition available.
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Financial Information for Parent Issuer, Guarantor Subsidiaries and Non-Guarantor Subsidiaries (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unaudited Condensed Consolidated Statement of Operations | Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Operations
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unaudited Condensed Consolidated Statement of Comprehensive Income | Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Comprehensive Income/(Loss)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unaudited Condensed Consolidated Balance Sheet | Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unaudited Condensed Consolidated Statement of Cash Flows | Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of condensed statement of comprehensive income (loss) including, but not limited to, statements of comprehensive income (loss) of consolidated entities and consolidation eliminations. No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. No definition available.
|
Financial Information for Issuer, Parent Guarantor, Other Guarantor Subsidiaries and Non-Guarantor Subsidiaries (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unaudited Condensed Consolidated Statement of Operations | Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Operations
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unaudited Condensed Consolidated Statement of Comprehensive Income | Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Comprehensive Income/(Loss)
Condensed Consolidated Statement of Comprehensive Income/(Loss)
|
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Unaudited Condensed Consolidated Balance Sheet | Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet
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Unaudited Condensed Consolidated Statement of Cash Flows | Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows
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X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of condensed statement of comprehensive income (loss) including, but not limited to, statements of comprehensive income (loss) of consolidated entities and consolidation eliminations. No definition available.
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X | ||||||||||
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. No definition available.
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X | ||||||||||
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. No definition available.
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X | ||||||||||
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. No definition available.
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Nature of Operations (Details) employee in Thousands |
Dec. 31, 2016
employee
Country
|
---|---|
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Number of employees employed (more than 41,000) | employee | 41 |
Number of countries in which entity operates (more than 140) | Country | 140 |
X | ||||||||||
- Definition Number of persons employed by the Entity No definition available.
|
X | ||||||||||
- Definition The number of countries in which the entity operates as of balance sheet date. No definition available.
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X | ||||||||||
- References No definition available.
|
Basis of Presentation and Significant Accounting Policies - Additional Information (Details) |
9 Months Ended | 12 Months Ended | ||
---|---|---|---|---|
Jan. 04, 2016 |
Sep. 30, 2016
unit
|
Dec. 31, 2016
USD ($)
arrangement
|
Dec. 31, 2015
USD ($)
|
|
Deferred Revenue Arrangement [Line Items] | ||||
Number of reporting units | unit | 8 | |||
Number of fixed-fee arrangements | arrangement | 4 | |||
Delivered software, initial license and maintenance | ||||
Deferred Revenue Arrangement [Line Items] | ||||
Initial contract term used to recognize fees | 1 year | |||
Transaction and Integration Expenses | ||||
Deferred Revenue Arrangement [Line Items] | ||||
Prior period reclassification adjustment | $ 84,000,000 | |||
Salary and Benefits | ||||
Deferred Revenue Arrangement [Line Items] | ||||
Prior period reclassification adjustment | (3,000,000) | |||
Other Operating Expenses | ||||
Deferred Revenue Arrangement [Line Items] | ||||
Prior period reclassification adjustment | $ (81,000,000) | |||
Minimum | ||||
Deferred Revenue Arrangement [Line Items] | ||||
Deferred costs, amortization period | 3 years | |||
Maximum | ||||
Deferred Revenue Arrangement [Line Items] | ||||
Deferred costs, amortization period | 5 years | |||
Internally developed software | Minimum | ||||
Deferred Revenue Arrangement [Line Items] | ||||
Useful life | 3 years | |||
Internally developed software | Maximum | ||||
Deferred Revenue Arrangement [Line Items] | ||||
Useful life | 10 years | |||
Buildings | ||||
Deferred Revenue Arrangement [Line Items] | ||||
Useful life | 50 years | |||
Furniture, equipment and software | Minimum | ||||
Deferred Revenue Arrangement [Line Items] | ||||
Useful life | 3 years | |||
Furniture, equipment and software | Maximum | ||||
Deferred Revenue Arrangement [Line Items] | ||||
Useful life | 10 years | |||
Common Stock | ||||
Deferred Revenue Arrangement [Line Items] | ||||
Reverse stock split | 0.3775 | |||
Willis Limited | ||||
Deferred Revenue Arrangement [Line Items] | ||||
Unencumbered and available funds required | $ 140,000,000 | |||
Unencumbered and available cash balance required | $ 79,000,000 |
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Number of reporting units tested for impairment of goodwill. A reporting unit is an operating segment or one level below an operating segment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The amount of a reclassification adjustment made to prior period financial statement amounts. No definition available.
|
X | ||||||||||
- Definition Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
|
X | ||||||||||
- Definition The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. This element is for unclassified presentations; for classified presentations there is a separate and distinct element. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Ratio applied to the conversion of stock split, for example but not limited to, one share converted to two or two shares converted to one. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Deferred Costs, Amortization Period No definition available.
|
X | ||||||||||
- Definition Deferred Revenue, Period for Recognition No definition available.
|
X | ||||||||||
- Definition Number of Fixed-Fee Arrangements No definition available.
|
X | ||||||||||
- Definition Restricted Cash No definition available.
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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Basis of Presentation and Significant Accounting Policies - Finite-lived Intangible Assets (Details) |
12 Months Ended |
---|---|
Dec. 31, 2016 | |
Product | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Expected life | 17 years 6 months |
Favorable agreements | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Expected life | 7 years |
Management contracts | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Expected life | 18 years |
Minimum | Client relationships | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Expected life | 5 years |
Minimum | Software | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Expected life | 4 years |
Minimum | Trade name | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Expected life | 14 years |
Maximum | Client relationships | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Expected life | 20 years |
Maximum | Software | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Expected life | 7 years |
Maximum | Trade name | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Expected life | 25 years |
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Weighted average amortization period of finite-lived intangible assets acquired either individually or as part of a group of assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
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X | ||||||||||
- Details
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X | ||||||||||
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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Merger and Acquisitions - Narrative (Details) $ / shares in Units, € in Millions |
12 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|
Jan. 04, 2016
USD ($)
$ / shares
shares
|
Dec. 29, 2015
EUR (€)
shares
|
Dec. 29, 2015
USD ($)
$ / shares
|
Nov. 20, 2015 |
May 31, 2015
USD ($)
|
Dec. 31, 2016
USD ($)
$ / shares
shares
|
Dec. 31, 2015
USD ($)
$ / shares
shares
|
Dec. 29, 2015
USD ($)
shares
|
Dec. 31, 2014
USD ($)
|
|
Business Acquisition [Line Items] | |||||||||
Purchase price allocation adjustments, goodwill | $ 6,000,000 | $ 1,000,000 | |||||||
Goodwill | $ 10,413,000,000 | 3,737,000,000 | $ 2,937,000,000 | ||||||
Towers Watson & Co. | |||||||||
Business Acquisition [Line Items] | |||||||||
Duration that entity has been in existence (more than) | 100 years | ||||||||
Conversion of Towers Watson stock to Willis stock, conversion ratio | 2.6490 | ||||||||
Dividends paid per share (usd per share) | $ / shares | $ 10 | ||||||||
Dividends paid | $ 694,000,000 | ||||||||
Common shares outstanding | shares | 69,000,000 | 69,000,000 | 69,000,000 | ||||||
Adjustment, intangibles | $ 119,000,000 | ||||||||
Purchase price allocation adjustments, goodwill | 237,000,000 | ||||||||
Goodwill, tax deductible | 0 | ||||||||
Revenue of acquiree since acquisition date, actual | 3,600,000,000 | ||||||||
Earnings or acquiree since acquisition date, actual | 111,000,000 | ||||||||
Value of equity awards assumed | $ 37,000,000 | ||||||||
Total consideration | 8,723,000,000 | ||||||||
Intangible assets | 3,991,000,000 | ||||||||
Goodwill | $ 6,783,000,000 | ||||||||
Towers Watson & Co. | Stock options | |||||||||
Business Acquisition [Line Items] | |||||||||
Number of awards converted from acquiree to acquirer | shares | 592,486 | ||||||||
Value of equity awards assumed | $ 7,000,000 | ||||||||
Fair value of outstanding options related to post-acquistion employee service | $ 13,000,000 | ||||||||
Towers Watson & Co. | Restricted Stock Units | |||||||||
Business Acquisition [Line Items] | |||||||||
Number of awards converted from acquiree to acquirer | shares | 597,307 | ||||||||
Value of equity awards assumed | $ 30,000,000 | ||||||||
Fair value of outstanding units related to post-acquistion employee service | 32,000,000 | ||||||||
Gras Savoye | |||||||||
Business Acquisition [Line Items] | |||||||||
Percentage of interest acquired | 70.00% | 70.00% | |||||||
Total consideration | € 544 | 592,000,000 | |||||||
Consideration paid in cash | $ 582,000,000 | ||||||||
Remeasurement fair value of previously held interest in acquisition | € 221 | $ 241,000,000 | |||||||
Total basis in acquiree | 100.00% | 100.00% | |||||||
Fair value basis of acquisition | € 765 | $ 833,000,000 | |||||||
Discounted fair value of deferred consideration | 4,000,000 | 10,000,000 | |||||||
Deferred consideration, payment period one | 1 year | 1 year | |||||||
Deferred consideration, payment period two | 2 years | 2 years | |||||||
Intangible assets | 440,000,000 | ||||||||
Goodwill | $ 584,000,000 | ||||||||
Miller | |||||||||
Business Acquisition [Line Items] | |||||||||
Percentage of interest acquired | 85.00% | ||||||||
Total consideration | $ 401,000,000 | ||||||||
Consideration paid in cash | 232,000,000 | ||||||||
Fair value of deferred consideration | 124,000,000 | ||||||||
Fair value of contingent consideration | $ 29,000,000 | ||||||||
Discounted fair value of deferred consideration | 69,000,000 | ||||||||
Discounted fair value of contingent consideration liability | $ 26,000,000 | $ 95,000,000 | |||||||
Deferred consideration, payment period one | 1 year | ||||||||
Deferred consideration, payment period two | 2 years | ||||||||
Deferred consideration, payment period three | 3 years | ||||||||
Contingent consideration, period for payment one | 3 years | ||||||||
Assets recognized | $ 1,100,000,000 | ||||||||
Liabilities assumed | 844,000,000 | ||||||||
Intangible assets | 231,000,000 | ||||||||
Goodwill | $ 184,000,000 | ||||||||
Ordinary shares, $0.000304635 nominal value | |||||||||
Business Acquisition [Line Items] | |||||||||
Ordinary shares, nominal value (usd and Euro per share) | $ / shares | $ 0.000304635000 | $ 0.000304635 | $ 0.000304635 | ||||||
Common shares outstanding | shares | 136,296,771 | 68,624,892 | |||||||
Ordinary shares, $0.000304635 nominal value | Towers Watson & Co. | |||||||||
Business Acquisition [Line Items] | |||||||||
Conversion of Towers Watson stock to Willis stock, conversion ratio | 2.6490 | ||||||||
Ordinary shares, $0.000115 nominal value | Towers Watson & Co. | |||||||||
Business Acquisition [Line Items] | |||||||||
Ordinary shares, nominal value (usd and Euro per share) | $ / shares | $ 0.000115 | ||||||||
Line of Credit | 1-year Term Loan Facility Matures 2016 | Term Loan | |||||||||
Business Acquisition [Line Items] | |||||||||
Term loan period | 1 year | 1 year | |||||||
Towers Watson Deferred Tax Liability | Towers Watson & Co. | |||||||||
Business Acquisition [Line Items] | |||||||||
Adjustment, financial liabilities | $ (135,000,000) |
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Percentage of voting equity interests acquired at the acquisition date in the business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The amount of goodwill arising from a business combination that is expected to be deductible for tax purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of consideration transferred, consisting of acquisition-date fair value of assets transferred by the acquirer, liabilities incurred by the acquirer, and equity interest issued by the acquirer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of liabilities incurred by the acquirer as part of consideration transferred in a business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of liability recognized arising from contingent consideration in a business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition This element represents the amount of earnings or loss of the acquiree since the acquisition date included in the consolidated income statement for the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition This element represents the amount of revenue of the acquiree since the acquisition date included in the consolidated income statement for the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition This element represents the amount of any measurement period adjustment (as defined) realized during the reporting period to financial liabilities assumed in connection with a business combination for which the initial accounting was incomplete. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition This element represents the amount of any measurement period adjustment (as defined) realized during the reporting period to intangibles acquired in connection with a business combination for which the initial accounting was incomplete. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of assets acquired at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of intangible assets, excluding goodwill, acquired at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of liabilities assumed at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount recognized as of the acquisition date for the assets, including goodwill, in excess of (less than) the aggregate liabilities assumed, less the noncontrolling interest in the acquiree. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Percentage of voting equity interests acquired in a business combination achieved in stages, including equity interests in the acquiree held by the acquirer immediately before the acquisition date and acquired at the acquisition date. No definition available.
|
X | ||||||||||
- Definition Aggregate dividends paid during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Face amount or stated value per share of common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
X | ||||||||||
- Definition This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of increase (decrease) from adjustments after acquisition date under purchase accounting of an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Cash outflow in the form of capital distributions and dividends to common shareholders, preferred shareholders and noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash outflow associated with the acquisition of business during the period. The cash portion only of the acquisition price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Intrinsic value of equity-based compensation awards not vested. Excludes stock and unit options. No definition available.
|
X | ||||||||||
- Definition Fair value of options vested. Excludes equity instruments other than options, for example, but not limited to, share units, stock appreciation rights, restricted stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Adjustments to Additional Paid in Capital, Share-based Compensation, Acquisitions No definition available.
|
X | ||||||||||
- Definition Business Combination, Consideration Transferred, Liabilities Incurred, Payment Period One No definition available.
|
X | ||||||||||
- Definition Business Combination, Consideration Transferred, Liabilities Incurred, Payment Period Three No definition available.
|
X | ||||||||||
- Definition Business Combination, Consideration Transferred, Liabilities Incurred, Payment Period Two No definition available.
|
X | ||||||||||
- Definition Business Combination, Contingent Consideration, Fair Value No definition available.
|
X | ||||||||||
- Definition Business Combination, Contingent Consideration, Liability, Period for Payment No definition available.
|
X | ||||||||||
- Definition Business Combination, Conversion of Acquiree Common Shares to Acquirer Common Shares, Conversion Ratio No definition available.
|
X | ||||||||||
- Definition Business Combination, Deferred Consideration, Fair Value No definition available.
|
X | ||||||||||
- Definition Period of Business Existence No definition available.
|
X | ||||||||||
- Definition Share-based Compensation Arrangement by Share-based Payment Award, Number of Awards Converted from Acquiree to Acquirer No definition available.
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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- Details
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Merger and Acquisitions - Preliminary Calculation of Aggregate Merger Consideration (Details) $ / shares in Units, € in Millions, shares in Millions, $ in Millions |
Jan. 04, 2016
USD ($)
$ / shares
shares
|
Dec. 29, 2015
EUR (€)
shares
|
Dec. 29, 2015
USD ($)
shares
|
---|---|---|---|
Towers Watson & Co. | |||
Business Acquisition [Line Items] | |||
Number of shares of Towers Watson common stock outstanding as of January 4, 2016 | shares | 69 | 69 | 69 |
Exchange ratio | 2.6490 | ||
Fair value of 184 million Willis ordinary shares | $ 8,686 | ||
Value of equity awards assumed | 37 | ||
Aggregate Merger Consideration | $ 8,723 | ||
Towers Watson & Co. | Willis Group Holdings | |||
Business Acquisition [Line Items] | |||
Number of Willis Group Holdings shares issued (prior to reverse stock split) | shares | 184 | ||
Willis Group Holdings price per share on January 4, 2016 | $ / shares | $ 47.18 | ||
Gras Savoye | |||
Business Acquisition [Line Items] | |||
Aggregate Merger Consideration | € 544 | $ 592 |
X | ||||||||||
- Definition Number of shares of equity interests issued or issuable to acquire entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Price of a single share of a number of saleable stocks paid or offered to be paid in a business combination. No definition available.
|
X | ||||||||||
- Definition Amount of consideration transferred, consisting of acquisition-date fair value of assets transferred by the acquirer, liabilities incurred by the acquirer, and equity interest issued by the acquirer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of equity interests of the acquirer, including instruments or interests issued or issuable in consideration for the business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Adjustments to Additional Paid in Capital, Share-based Compensation, Acquisitions No definition available.
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X | ||||||||||
- Definition Business Combination, Conversion of Acquiree Common Shares to Acquirer Common Shares, Conversion Ratio No definition available.
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Merger and Acquisitions - Schedule of Fair Values of the Identifiable Assets Acquired and Liabilities Assumed (Details) € in Millions, $ in Millions |
Jan. 04, 2016
USD ($)
|
Dec. 29, 2015
EUR (€)
|
Dec. 29, 2015
USD ($)
|
Dec. 31, 2016
USD ($)
|
Dec. 31, 2015
USD ($)
|
Dec. 29, 2015
USD ($)
|
Dec. 31, 2014
USD ($)
|
---|---|---|---|---|---|---|---|
Business Acquisition [Line Items] | |||||||
Goodwill | $ 10,413 | $ 3,737 | $ 2,937 | ||||
Towers Watson & Co. | |||||||
Business Acquisition [Line Items] | |||||||
Cash and cash equivalents | $ 476 | ||||||
Accounts receivable, net | 825 | ||||||
Other current assets | 82 | ||||||
Fixed assets, net | 204 | ||||||
Goodwill | 6,783 | ||||||
Intangible assets | 3,991 | ||||||
Pension benefits assets | 67 | ||||||
Other non-current assets | 115 | ||||||
Deferred tax liabilities | (1,151) | ||||||
Liability for pension benefits | (923) | ||||||
Other current liabilities | (667) | ||||||
Other non-current liabilities | (331) | ||||||
Short and long-term debt | (740) | ||||||
Net assets acquired | 8,731 | ||||||
Noncontrolling interest acquired | (8) | ||||||
Allocated Aggregate Merger Consideration | 8,723 | ||||||
Dividends paid | $ 694 | ||||||
Towers Watson & Co. | Towers Watson Debt, Due on Change of Control | |||||||
Business Acquisition [Line Items] | |||||||
Short and long-term debt | (400) | ||||||
Repayments of debt | 400 | ||||||
Towers Watson & Co. | Towers Watson Debt, Due on Change of Control | Term Loan | |||||||
Business Acquisition [Line Items] | |||||||
Short and long-term debt | (188) | ||||||
Towers Watson & Co. | Towers Watson Debt, Due on Change of Control | Line of Credit | Revolving Credit Facility | |||||||
Business Acquisition [Line Items] | |||||||
Short and long-term debt | (212) | ||||||
Towers Watson & Co. | Towers Watson New Term Loan | Term Loan | |||||||
Business Acquisition [Line Items] | |||||||
Proceeds from issuance of debt | 340 | ||||||
Gras Savoye | |||||||
Business Acquisition [Line Items] | |||||||
Cash and cash equivalents | $ 87 | ||||||
Fiduciary assets | 625 | ||||||
Accounts receivable, net | 89 | ||||||
Goodwill | 584 | ||||||
Intangible assets | 440 | ||||||
Other non-current assets | 56 | ||||||
Fiduciary liabilities | (625) | ||||||
Deferred revenue and accrued expenses | (80) | ||||||
Deferred tax liabilities | (87) | ||||||
Other non-current liabilities | (179) | ||||||
Short and long-term debt | (80) | ||||||
Net assets acquired | 830 | ||||||
Decrease in paid in capital for purchase of noncontrolling interest | 43 | ||||||
Noncontrolling interest acquired | (40) | ||||||
Allocated Aggregate Merger Consideration | € 544 | $ 592 | |||||
Purchase price allocation | € 765 | $ 833 | |||||
Towers Watson Accounts Payable, Accrued Liabilities, and Deferred Compensation | Towers Watson & Co. | |||||||
Business Acquisition [Line Items] | |||||||
Other current liabilities | (348) | ||||||
Towers Watson Employee-related Liabilities | Towers Watson & Co. | |||||||
Business Acquisition [Line Items] | |||||||
Other current liabilities | (308) | ||||||
Towers Watson Other Current Liabilities | Towers Watson & Co. | |||||||
Business Acquisition [Line Items] | |||||||
Other current liabilities | (11) | ||||||
Towers Watson Acquired Contingent Liabilities | Towers Watson & Co. | |||||||
Business Acquisition [Line Items] | |||||||
Other non-current liabilities | $ (242) |
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition This element represents the fair value of the noncontrolling interest in the acquiree at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of consideration transferred, consisting of acquisition-date fair value of assets transferred by the acquirer, liabilities incurred by the acquirer, and equity interest issued by the acquirer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions, acquired at the acquisition date. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of other assets expected to be realized or consumed before one year or the normal operating cycle, if longer, acquired at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount due from customers or clients for goods or services, including trade receivables, that have been delivered or sold in the normal course of business, and amounts due from others, including related parties expected to be converted to cash, sold or exchanged within one year or the normal operating cycle, if longer, acquired at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of other liabilities due within one year or within the normal operating cycle, if longer, assumed at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of deferred tax liability attributable to taxable temporary differences assumed at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of intangible assets, excluding goodwill, acquired at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of long-term debt due after one year or the normal operating cycle, if longer, assumed at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of other liabilities due after one year or the normal operating cycle, if longer, assumed at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of other assets expected to be realized or consumed after one year or the normal operating cycle, if longer, acquired at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of property, plant, and equipment recognized as of the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount recognized as of the acquisition date for the assets, including goodwill, in excess of (less than) the aggregate liabilities assumed, less the noncontrolling interest in the acquiree. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount recognized for assets, including goodwill, in excess of (less than) the aggregate liabilities assumed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Cash outflow in the form of capital distributions and dividends to common shareholders, preferred shareholders and noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The cash inflow during the period from additional borrowings in aggregate debt. Includes proceeds from short-term and long-term debt. No definition available.
|
X | ||||||||||
- Definition The cash outflow during the period from the repayment of aggregate short-term and long-term debt. Excludes payment of capital lease obligations. No definition available.
|
X | ||||||||||
- Definition Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Decrease in Additional Paid in Capital No definition available.
|
X | ||||||||||
- Definition Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Deferred Revenue and Accrued Liabilities No definition available.
|
X | ||||||||||
- Definition Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Pension and Postretirement Liabilities No definition available.
|
X | ||||||||||
- Definition Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Fiduciary Assets No definition available.
|
X | ||||||||||
- Definition Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Fiduciary Liabilities No definition available.
|
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- Definition Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Assets, Pension Benefit Assets No definition available.
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Merger and Acquisitions - Unaudited Pro Forma Financial Information (Details) - Towers Watson & Co. - USD ($) $ / shares in Units, $ in Millions |
12 Months Ended | |
---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Business Acquisition [Line Items] | ||
Total revenues | $ 7,887 | $ 7,492 |
Net income attributable to Willis Towers Watson | $ 420 | $ 640 |
Diluted earnings per share (in dollars per share) | $ 3.04 | $ 4.64 |
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Per diluted share amount of pro forma income from continuing operations, after tax, as if the business combination had been completed at the beginning of a period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The pro forma net Income or Loss for the period as if the business combination or combinations had been completed at the beginning of a period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The pro forma revenue for a period as if the business combination or combinations had been completed at the beginning of the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Merger and Acquisitions - Schedule of Acquired Intangible Assets (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||
---|---|---|---|---|---|
Jan. 04, 2016 |
Dec. 29, 2015 |
Mar. 31, 2016 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Acquired Finite-Lived Intangible Assets [Line Items] | |||||
Intangible assets acquired | $ 3,953 | $ 773 | |||
Customer relationships | |||||
Acquired Finite-Lived Intangible Assets [Line Items] | |||||
Intangible assets acquired | 2,222 | 642 | |||
Product | |||||
Acquired Finite-Lived Intangible Assets [Line Items] | |||||
Intangible assets acquired | $ 42 | ||||
Weighted Average Useful Life | 17 years 6 months | ||||
Favorable agreements | |||||
Acquired Finite-Lived Intangible Assets [Line Items] | |||||
Intangible assets acquired | $ 11 | $ 2 | |||
Towers Watson & Co. | |||||
Acquired Finite-Lived Intangible Assets [Line Items] | |||||
Intangible assets acquired | $ 3,991 | ||||
Towers Watson & Co. | Customer relationships | |||||
Acquired Finite-Lived Intangible Assets [Line Items] | |||||
Intangible assets acquired | $ 2,221 | ||||
Weighted Average Useful Life | 15 years | ||||
Towers Watson & Co. | Software | Income Approach Valuation Technique | |||||
Acquired Finite-Lived Intangible Assets [Line Items] | |||||
Intangible assets acquired | $ 567 | ||||
Weighted Average Useful Life | 6 years 5 months | ||||
Towers Watson & Co. | Software | Cost Approach Valuation Technique | |||||
Acquired Finite-Lived Intangible Assets [Line Items] | |||||
Intangible assets acquired | $ 108 | ||||
Weighted Average Useful Life | 4 years 11 months | ||||
Towers Watson & Co. | Product | |||||
Acquired Finite-Lived Intangible Assets [Line Items] | |||||
Intangible assets acquired | $ 42 | ||||
Weighted Average Useful Life | 17 years 6 months | ||||
Towers Watson & Co. | IPR&D | |||||
Acquired Finite-Lived Intangible Assets [Line Items] | |||||
Intangible assets acquired | $ 39 | ||||
Towers Watson & Co. | Trade name | |||||
Acquired Finite-Lived Intangible Assets [Line Items] | |||||
Intangible assets acquired | $ 1,003 | ||||
Weighted Average Useful Life | 25 years | ||||
Towers Watson & Co. | Favorable agreements | |||||
Acquired Finite-Lived Intangible Assets [Line Items] | |||||
Intangible assets acquired | $ 11 | ||||
Weighted Average Useful Life | 6 years 6 months | ||||
Gras Savoye | |||||
Acquired Finite-Lived Intangible Assets [Line Items] | |||||
Intangible assets acquired | $ 440 | ||||
Gras Savoye | Customer relationships | |||||
Acquired Finite-Lived Intangible Assets [Line Items] | |||||
Intangible assets acquired | $ 339 | ||||
Weighted Average Useful Life | 20 years | ||||
Gras Savoye | Software and other intangibles | |||||
Acquired Finite-Lived Intangible Assets [Line Items] | |||||
Intangible assets acquired | $ 66 | ||||
Weighted Average Useful Life | 5 years | ||||
Gras Savoye | Trade name | |||||
Acquired Finite-Lived Intangible Assets [Line Items] | |||||
Intangible assets acquired | $ 35 | ||||
Weighted Average Useful Life | 14 years |
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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X | ||||||||||
- Definition Weighted average amortization period of finite-lived intangible assets acquired either individually or as part of a group of assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of increase in assets, excluding financial assets, lacking physical substance with a definite life, from an acquisition. No definition available.
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Segment Information - Narrative (Details) - segment |
3 Months Ended | |
---|---|---|
Dec. 31, 2016 |
Jun. 30, 2016 |
|
Segment Reporting [Abstract] | ||
Number of reportable segments | 4 | 8 |
X | ||||||||||
- Definition Number of segments reported by the entity. A reportable segment is a component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements. No definition available.
|
X | ||||||||||
- References No definition available.
|
Segment Information - Revenue (Net of Reimbursable Expenses) of the Reported Segments (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2016 |
Sep. 30, 2016 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
Sep. 30, 2015 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Segment Reporting Information [Line Items] | |||||||||||
Commissions and fees | $ 7,778 | $ 3,809 | $ 3,767 | ||||||||
Interest and other income | 109 | 20 | 35 | ||||||||
Income from operations | $ 88 | $ 1 | $ 136 | $ 326 | $ 2 | $ 27 | $ 105 | $ 293 | 551 | 427 | 647 |
Operating Segments | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Commissions and fees | 7,746 | 3,810 | 3,767 | ||||||||
Interest and other income | 106 | 19 | 35 | ||||||||
Revenues | 7,852 | 3,829 | 3,802 | ||||||||
Income from operations | 1,608 | 836 | 872 | ||||||||
Operating Segments | HCB | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Commissions and fees | 3,210 | 697 | 653 | ||||||||
Interest and other income | 16 | 1 | 2 | ||||||||
Revenues | 3,226 | 698 | 655 | ||||||||
Income from operations | 680 | 157 | 144 | ||||||||
Operating Segments | CRB | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Commissions and fees | 2,502 | 2,301 | 2,365 | ||||||||
Interest and other income | 29 | 17 | 16 | ||||||||
Revenues | 2,531 | 2,318 | 2,381 | ||||||||
Income from operations | 520 | 491 | 500 | ||||||||
Operating Segments | IRR | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Commissions and fees | 1,382 | 812 | 749 | ||||||||
Interest and other income | 59 | 1 | 17 | ||||||||
Revenues | 1,441 | 813 | 766 | ||||||||
Income from operations | 306 | 188 | 228 | ||||||||
Operating Segments | ES | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Commissions and fees | 652 | 0 | 0 | ||||||||
Interest and other income | 2 | 0 | 0 | ||||||||
Revenues | 654 | 0 | 0 | ||||||||
Income from operations | $ 102 | $ 0 | $ 0 |
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
X | ||||||||||
- Definition Amount, after sales adjustments, returns, allowances, and discounts, of revenue classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Aggregate revenue during the period from services rendered in the normal course of business, after deducting allowances and discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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Segment Information - Reconciliation of Information Reported by Segment to Consolidated Amounts (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2016 |
Sep. 30, 2016 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
Sep. 30, 2015 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||||||||||
Fair value adjustment to deferred revenue | $ (58) | $ 0 | $ 0 | ||||||||
Reimbursable expenses and other | 93 | 0 | 0 | ||||||||
Total revenues | $ 1,927 | $ 1,777 | $ 1,949 | $ 2,234 | $ 974 | $ 846 | $ 922 | $ 1,087 | 7,887 | 3,829 | 3,802 |
Income from operations | $ 88 | $ 1 | $ 136 | $ 326 | $ 2 | $ 27 | $ 105 | $ 293 | 551 | 427 | 647 |
Amortization | (591) | (76) | (54) | ||||||||
Restructuring costs | (193) | (126) | (36) | ||||||||
Transaction and integration expenses | (177) | (73) | 0 | ||||||||
Provision for the Stanford litigation | (50) | (70) | 0 | ||||||||
Other, net | (6) | 1 | (4) | ||||||||
Interest expense | 184 | 142 | 135 | ||||||||
Other expense/(income), net | 27 | (55) | (6) | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INTEREST IN EARNINGS OF ASSOCIATES | 340 | 340 | 518 | ||||||||
Operating Segments | |||||||||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||||||||||
Total segment revenues | 7,852 | 3,829 | 3,802 | ||||||||
Income from operations | 1,608 | 836 | 872 | ||||||||
Consolidating adjustments | |||||||||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||||||||||
Income from operations | $ 18 | $ (65) | $ (131) |
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- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations. No definition available.
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Business Combination, Integration Related Transaction Costs No definition available.
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X | ||||||||||
- Definition Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Deferred Revenue No definition available.
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Segment Information - Revenue and Long-Lived Assets by Geographical Areas (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2016 |
Sep. 30, 2016 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
Sep. 30, 2015 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Segment Reporting Information [Line Items] | |||||||||||
Revenues | $ 1,927 | $ 1,777 | $ 1,949 | $ 2,234 | $ 974 | $ 846 | $ 922 | $ 1,087 | $ 7,887 | $ 3,829 | $ 3,802 |
Long-Lived Assets | 16,411 | 6,260 | 16,411 | 6,260 | 4,563 | ||||||
Ireland | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 92 | 64 | 51 | ||||||||
Long-Lived Assets | 114 | 124 | 114 | 124 | 121 | ||||||
United States | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 3,395 | 1,597 | 1,600 | ||||||||
Long-Lived Assets | 11,400 | 1,759 | 11,400 | 1,759 | 1,800 | ||||||
United Kingdom | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 2,236 | 1,055 | 1,057 | ||||||||
Long-Lived Assets | 2,431 | 2,426 | 2,431 | 2,426 | 1,666 | ||||||
Rest of World | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 2,164 | 1,113 | 1,094 | ||||||||
Long-Lived Assets | 2,466 | 1,951 | 2,466 | 1,951 | 976 | ||||||
Total Foreign Countries | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 7,795 | 3,765 | 3,751 | ||||||||
Long-Lived Assets | $ 16,297 | $ 6,136 | $ 16,297 | $ 6,136 | $ 4,442 |
X | ||||||||||
- Definition Long-lived assets other than financial instruments, long-term customer relationships of a financial institution, mortgage and other servicing rights, deferred policy acquisition costs, and deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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Restructuring Costs - Narrative (Details) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016
USD ($)
program
Position
|
Dec. 31, 2015
USD ($)
|
Dec. 31, 2014
USD ($)
|
|
Restructuring Cost and Reserve [Line Items] | |||
Number of restructuring programs | program | 2 | ||
Restructuring costs | $ 193 | $ 126 | $ 36 |
Operational Improvement Program | |||
Restructuring Cost and Reserve [Line Items] | |||
Number of support roles moved from higher cost locations to lower cost locations (more than) | Position | 3,500 | ||
Restructuring costs | $ 145 | $ 126 | $ 36 |
Expected cost | 130 | ||
Business Restructure Program | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | $ 48 |
X | ||||||||||
- Definition Amount expected to be recognized in earnings for the specified restructuring cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Restructuring And Related Cost, Number Of Restructuring Programs No definition available.
|
X | ||||||||||
- Definition Restructuring and Related Cost, Expected Number of Positions Moved No definition available.
|
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Restructuring Costs - Analysis of the Cost for Restructuring (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | $ 193 | $ 126 | $ 36 |
Termination benefits | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 68 | 36 | 16 |
Professional services and other | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 125 | 90 | 20 |
Operating Segments | HCB | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 37 | 3 | 0 |
Operating Segments | HCB | Termination benefits | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 33 | 2 | 0 |
Operating Segments | HCB | Professional services and other | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 4 | 1 | 0 |
Operating Segments | CRB | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 107 | 81 | 18 |
Operating Segments | CRB | Termination benefits | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 26 | 24 | 15 |
Operating Segments | CRB | Professional services and other | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 81 | 57 | 3 |
Operating Segments | IRR | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 10 | 9 | 1 |
Operating Segments | IRR | Termination benefits | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 6 | 7 | 1 |
Operating Segments | IRR | Professional services and other | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 4 | 2 | 0 |
Operating Segments | ES | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 1 | 0 | 0 |
Operating Segments | ES | Termination benefits | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 1 | 0 | 0 |
Operating Segments | ES | Professional services and other | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 0 | 0 | 0 |
Corporate | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 38 | 33 | 17 |
Corporate | Termination benefits | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 2 | 3 | 0 |
Corporate | Professional services and other | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 36 | 30 | 17 |
Operational Improvement Program | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 145 | 126 | 36 |
Restructuring and related cost, cost incurred to Date | 307 | ||
Operational Improvement Program | Termination benefits | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 23 | 36 | 16 |
Restructuring and related cost, cost incurred to Date | 75 | ||
Operational Improvement Program | Professional services and other | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 122 | 90 | 20 |
Restructuring and related cost, cost incurred to Date | 232 | ||
Operational Improvement Program | Operating Segments | HCB | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related cost, cost incurred to Date | 5 | ||
Operational Improvement Program | Operating Segments | HCB | Termination benefits | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 1 | 2 | 0 |
Restructuring and related cost, cost incurred to Date | 3 | ||
Operational Improvement Program | Operating Segments | HCB | Professional services and other | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 1 | 1 | 0 |
Restructuring and related cost, cost incurred to Date | 2 | ||
Operational Improvement Program | Operating Segments | CRB | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related cost, cost incurred to Date | 198 | ||
Operational Improvement Program | Operating Segments | CRB | Termination benefits | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 18 | 24 | 15 |
Restructuring and related cost, cost incurred to Date | 57 | ||
Operational Improvement Program | Operating Segments | CRB | Professional services and other | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 81 | 57 | 3 |
Restructuring and related cost, cost incurred to Date | 141 | ||
Operational Improvement Program | Operating Segments | IRR | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related cost, cost incurred to Date | 17 | ||
Operational Improvement Program | Operating Segments | IRR | Termination benefits | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 3 | 7 | 1 |
Restructuring and related cost, cost incurred to Date | 11 | ||
Operational Improvement Program | Operating Segments | IRR | Professional services and other | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 4 | 2 | 0 |
Restructuring and related cost, cost incurred to Date | 6 | ||
Operational Improvement Program | Operating Segments | ES | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related cost, cost incurred to Date | 0 | ||
Operational Improvement Program | Operating Segments | ES | Termination benefits | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 0 | 0 | 0 |
Restructuring and related cost, cost incurred to Date | 0 | ||
Operational Improvement Program | Operating Segments | ES | Professional services and other | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 0 | 0 | 0 |
Restructuring and related cost, cost incurred to Date | 0 | ||
Operational Improvement Program | Corporate | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related cost, cost incurred to Date | 87 | ||
Operational Improvement Program | Corporate | Termination benefits | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 1 | 3 | 0 |
Restructuring and related cost, cost incurred to Date | 4 | ||
Operational Improvement Program | Corporate | Professional services and other | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 36 | $ 30 | $ 17 |
Restructuring and related cost, cost incurred to Date | 83 | ||
Business Restructure Program | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 48 | ||
Business Restructure Program | Termination benefits | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 45 | ||
Business Restructure Program | Professional services and other | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 3 | ||
Business Restructure Program | Operating Segments | HCB | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 35 | ||
Business Restructure Program | Operating Segments | HCB | Termination benefits | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 32 | ||
Business Restructure Program | Operating Segments | HCB | Professional services and other | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 3 | ||
Business Restructure Program | Operating Segments | CRB | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 8 | ||
Business Restructure Program | Operating Segments | CRB | Termination benefits | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 8 | ||
Business Restructure Program | Operating Segments | CRB | Professional services and other | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 0 | ||
Business Restructure Program | Operating Segments | IRR | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 3 | ||
Business Restructure Program | Operating Segments | IRR | Termination benefits | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 3 | ||
Business Restructure Program | Operating Segments | IRR | Professional services and other | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 0 | ||
Business Restructure Program | Operating Segments | ES | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 1 | ||
Business Restructure Program | Operating Segments | ES | Termination benefits | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 1 | ||
Business Restructure Program | Operating Segments | ES | Professional services and other | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 0 | ||
Business Restructure Program | Corporate | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 1 | ||
Business Restructure Program | Corporate | Termination benefits | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | 1 | ||
Business Restructure Program | Corporate | Professional services and other | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | $ 0 |
X | ||||||||||
- Definition Amount of costs incurred to date for the specified restructuring cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
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Restructuring Costs - Restructuring Liability (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Restructuring Reserve [Roll Forward] | |||
Charges incurred | $ 193 | $ 126 | $ 36 |
Business Restructure Program | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring liability, beginning balance | 0 | ||
Charges incurred | 48 | ||
Cash payments | (22) | ||
Restructuring liability, ending balance | 26 | 0 | |
Operational Improvement Program | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring liability, beginning balance | 26 | 11 | 0 |
Charges incurred | 145 | 126 | 36 |
Cash payments | (146) | (111) | (25) |
Restructuring liability, ending balance | 25 | 26 | 11 |
Termination benefits | |||
Restructuring Reserve [Roll Forward] | |||
Charges incurred | 68 | 36 | 16 |
Termination benefits | Business Restructure Program | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring liability, beginning balance | 0 | ||
Charges incurred | 45 | ||
Cash payments | (19) | ||
Restructuring liability, ending balance | 26 | 0 | |
Termination benefits | Operational Improvement Program | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring liability, beginning balance | 15 | 5 | 0 |
Charges incurred | 23 | 36 | 16 |
Cash payments | (31) | (26) | (11) |
Restructuring liability, ending balance | 7 | 15 | 5 |
Professional services and other | |||
Restructuring Reserve [Roll Forward] | |||
Charges incurred | 125 | 90 | 20 |
Professional services and other | Business Restructure Program | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring liability, beginning balance | 0 | ||
Charges incurred | 3 | ||
Cash payments | (3) | ||
Restructuring liability, ending balance | 0 | 0 | |
Professional services and other | Operational Improvement Program | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring liability, beginning balance | 11 | 6 | 0 |
Charges incurred | 122 | 90 | 20 |
Cash payments | (115) | (85) | (14) |
Restructuring liability, ending balance | $ 18 | $ 11 | $ 6 |
X | ||||||||||
- Definition Amount of cash payments made as the result of exit or disposal activities. Excludes payments associated with a discontinued operation or an asset retirement obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Carrying amount (including both current and noncurrent portions of the accrual) as of the balance sheet date pertaining to a specified type of cost associated with exit from or disposal of business activities or restructuring pursuant to a duly authorized plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
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Income Taxes - Income (Loss) Before Income Taxes (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Operating Loss Carryforwards [Line Items] | |||
Income / (loss) before income taxes | $ 340 | $ 340 | $ 518 |
Revenue Commissioners, Ireland | Domestic Tax Authority | |||
Operating Loss Carryforwards [Line Items] | |||
Income / (loss) before income taxes | (27) | (61) | (65) |
Internal Revenue Service (IRS) | Foreign Tax Authority | |||
Operating Loss Carryforwards [Line Items] | |||
Income / (loss) before income taxes | (311) | (67) | 92 |
Her Majesty's Revenue and Customs (HMRC) | Foreign Tax Authority | |||
Operating Loss Carryforwards [Line Items] | |||
Income / (loss) before income taxes | 123 | 65 | 154 |
Other jurisdictions | Foreign Tax Authority | |||
Operating Loss Carryforwards [Line Items] | |||
Income / (loss) before income taxes | $ 555 | $ 403 | $ 337 |
X | ||||||||||
- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Details
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X | ||||||||||
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X | ||||||||||
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X | ||||||||||
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Income Taxes - Current and Deferred Tax Expense (Benefit) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Current tax expense/(benefit): | |||
U.S. federal taxes | $ 35 | $ 14 | $ (16) |
U.S. state and local taxes | 14 | 1 | 7 |
U.K. corporation tax | 28 | 0 | 29 |
Other jurisdictions | 71 | 51 | 73 |
Total current income tax expense (benefit) | 148 | 66 | 93 |
Deferred tax expense/(benefit): | |||
U.S. federal taxes | (214) | (113) | 35 |
U.S. state and local taxes | (5) | (3) | 10 |
U.K. corporation tax | 10 | 14 | 24 |
Other jurisdictions | (35) | 3 | (3) |
Total deferred tax (benefit)/expense | (244) | (99) | 66 |
Total (benefit from)/provision for income taxes | $ (96) | $ (33) | $ 159 |
X | ||||||||||
- Definition Amount of current federal tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of current foreign income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of current state and local tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of deferred federal income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of deferred foreign income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of deferred state and local tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Current other jurisdictions tax expense benefit. No definition available.
|
X | ||||||||||
- Definition Deferred other jurisdictions tax expense benefit. No definition available.
|
Income Taxes - Effective Tax Rate Reconciliation (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Income Tax Disclosure [Abstract] | |||
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INTEREST IN EARNINGS OF ASSOCIATES | $ 340 | $ 340 | $ 518 |
U.S. federal statutory income tax rate | 35.00% | 35.00% | 35.00% |
Income tax expense at U.S. federal tax rate | $ 119 | $ 119 | $ 181 |
Non-deductible expenses and dividends | 15 | 32 | 21 |
Non-deductible acquisition costs | 1 | 9 | 0 |
Disposal of non-deductible goodwill | 2 | 3 | 11 |
Gain on remeasurement of equity interests | 0 | 20 | 0 |
Impact of change in rate on deferred tax balances | (15) | (5) | 0 |
Effect of foreign exchange and other differences | 6 | (1) | (4) |
Non-deductible Venezuelan foreign exchange loss | 4 | 11 | 5 |
Changes in valuation allowances | (74) | (104) | 7 |
Net tax effect of intra-group items | (98) | (30) | (30) |
Tax differentials of non-U.S. jurisdictions | (80) | (42) | (48) |
Tax differentials of U.S. state taxes and local taxes | 14 | (2) | 17 |
Other items, net | 10 | (3) | (1) |
Total (benefit from)/provision for income taxes | $ (96) | $ (33) | $ 159 |
X | ||||||||||
- Definition Percentage of domestic federal statutory tax rate applicable to pretax income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to increase (decrease) in the valuation allowance for deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations, attributable to increase (decrease) in the income tax rates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other deductions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to the disposition of a business not qualifying as a discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to foreign income tax expense (benefit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The amount of income tax expense or benefit for the period computed by applying the domestic federal statutory tax rates to pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to nondeductible expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other adjustments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to state and local income tax expense (benefit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Effective Income Tax Rate Reconciliation, Effect Of Foreign Exchange And Other Differences No definition available.
|
X | ||||||||||
- Definition Effective Income Tax Rate Reconciliation, Equity Interest In Acquiree, Remeasurement Gain No definition available.
|
X | ||||||||||
- Definition Effective Income Tax Rate Reconciliation, Non Deductible Acquisition Costs No definition available.
|
X | ||||||||||
- Definition Effective Income Tax Rate Reconciliation, Non Deductible Foreign Exchange Loss No definition available.
|
Income Taxes - Deferred Tax Assets (Liabilities) (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
---|---|---|
Deferred tax assets: | ||
Accrued expenses not currently deductible | $ 286 | $ 175 |
Net operating losses | 116 | 115 |
Capital loss carryforwards | 28 | 33 |
Accrued retirement benefits | 467 | 109 |
Deferred compensation | 83 | 34 |
Stock options | 36 | 16 |
Financial derivative transactions | 12 | 4 |
Gross deferred tax assets | 1,028 | 486 |
Less: valuation allowance | (134) | (187) |
Net deferred tax assets | 894 | 299 |
Deferred tax liabilities: | ||
Cost of intangible assets, net of related amortization | 1,431 | 289 |
Cost of tangible assets, net of related depreciation | 73 | 32 |
Prepaid retirement benefits | 85 | 111 |
Accrued revenue not currently taxable | 119 | 31 |
Deferred tax liabilities | 1,708 | 463 |
Net deferred tax liability | $ 814 | $ 164 |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of deferred tax liability attributable to taxable temporary differences. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible capital loss carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from derivative instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from compensation and benefits costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from postretirement benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from share-based compensation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences without jurisdictional netting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of deferred tax liability attributable to taxable temporary differences from intangible assets other than goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of deferred tax consequences attributable to taxable temporary differences derived from prepaid expenses. No definition available.
|
X | ||||||||||
- Definition Amount of deferred tax liability attributable to taxable temporary differences from property, plant, and equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of deferred tax liability attributable to taxable temporary differences from tax deferred revenue or income classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Accrued expenses not currently deductible. No definition available.
|
Income Taxes - Deferred Tax Liabilities, Balance Sheet Classification (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
---|---|---|
Income Tax Disclosure [Abstract] | ||
Other non-current assets | $ 50 | $ 76 |
Deferred tax liabilities | 864 | 240 |
Net deferred tax liability | $ 814 | $ 164 |
X | ||||||||||
- Definition Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards classified as noncurrent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences without jurisdictional netting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Gross amount of noncurrent deferred tax liabilities, which result from applying the applicable tax rate to taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
Income Taxes - Valuation Allowance (Details) - Valuation Allowance of Deferred Tax Assets - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at beginning of year | $ 187 | $ 280 | $ 196 |
Additions charged against/(credited to) to costs and expenses | 0 | 0 | 0 |
Additions charged against/(credited to) to other accounts | 21 | 2 | 84 |
Deductions | (74) | (95) | 0 |
Balance at end of year | $ 134 | $ 187 | $ 280 |
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition Total of allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability established to represent expected future costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of increase in the allowances and reserves, which consist of the valuation and qualifying accounts that are either netted against the cost of an asset or that reflect a liability established to represent expected future costs, from charges to costs and expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of increase in the allowances and reserves, which consist of the valuation and qualifying accounts that are either netted against the cost of an asset or that reflect a liability established to represent expected future costs, from charges to accounts other than costs and expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Total of the deductions in a given period to allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability established to represent expected future costs, representing receivables written off as uncollectible and portions of the reserves utilized, respectively. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
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Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Balance at beginning of year | $ 22 | $ 19 | $ 41 |
Increases related to acquisitions | 33 | 8 | 0 |
Increases related to tax positions in prior years | 1 | 1 | 3 |
Decreases related to tax positions in prior years | (9) | (6) | (32) |
Decreases related to settlements | (1) | 0 | 0 |
Decreases related to lapse in statute of limitations | (1) | 0 | 0 |
Increases related to current year tax positions | 11 | 2 | 8 |
Cumulative translation adjustment | 0 | (2) | (1) |
Balance at end of year | $ 56 | $ 22 | $ 19 |
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition Amount of unrecognized tax benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of decrease in unrecognized tax benefits resulting from tax positions taken in prior period tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of decrease in unrecognized tax benefits resulting from settlements with taxing authorities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of increase in unrecognized tax benefits resulting from acquisitions. No definition available.
|
X | ||||||||||
- Definition Amount of increase in unrecognized tax benefits resulting from tax positions that have been or will be taken in current period tax return. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of increase in unrecognized tax benefits resulting from tax positions taken in prior period tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of decrease in unrecognized tax benefits resulting from lapses of applicable statutes of limitations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Unrecognized Tax Benefits, Other Increase (Decrease) No definition available.
|
Income Taxes - Narrative (Details) - USD ($) |
12 Months Ended | |||
---|---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
|
Operating Loss Carryforwards [Line Items] | ||||
U.S. federal statutory income tax rate | 35.00% | 35.00% | 35.00% | |
Deferred tax assets, net of valuation allowance | $ 894,000,000 | $ 299,000,000 | ||
Net operating losses | 116,000,000 | 115,000,000 | ||
Operating loss carryforwards, not subject to expiration | 197,000,000 | |||
Valuation allowance | 134,000,000 | 187,000,000 | ||
Changes in valuation allowances | 74,000,000 | 104,000,000 | $ (7,000,000) | |
Net deferred tax liability | 814,000,000 | 164,000,000 | ||
Unrecognized tax benefits | 56,000,000 | 22,000,000 | 19,000,000 | $ 41,000,000 |
Decrease in unrecognized tax benefits is reasonably possible | 4,000,000 | |||
Unrecognized tax benefits that would impact effective tax rate | 52,000,000 | 0 | $ 2,000,000 | |
Interest on income taxes accrued | 4,000,000 | |||
Interest benefit on income tax expense | (1,000,000) | |||
Unrecognized tax benefits, period increase (decrease) | 3,000,000 | |||
Tax Year 2017 Through 2036 | ||||
Operating Loss Carryforwards [Line Items] | ||||
Operating loss carryforwards, subject to expiration | 49,000,000 | |||
Domestic Tax Authority | ||||
Operating Loss Carryforwards [Line Items] | ||||
Operating loss carryforwards, valuation allowance | 78,000,000 | 79,000,000 | ||
Foreign Tax Authority | ||||
Operating Loss Carryforwards [Line Items] | ||||
Net operating losses | 246,000,000 | |||
Operating loss carryforwards, valuation allowance | 28,000,000 | 6,000,000 | ||
Minimum | ||||
Operating Loss Carryforwards [Line Items] | ||||
Significant change in unrecognized tax benefits is reasonably possible, amount of unrecorded benefit | 3,000,000 | |||
Maximum | ||||
Operating Loss Carryforwards [Line Items] | ||||
Significant change in unrecognized tax benefits is reasonably possible, amount of unrecorded benefit | $ 6,000,000 | |||
Revenue Commissioners, Ireland | Domestic Tax Authority | ||||
Operating Loss Carryforwards [Line Items] | ||||
Foreign statutory income tax rate | 25.00% | |||
Her Majesty's Revenue and Customs (HMRC) | Foreign Tax Authority | Capital Loss Carryforward | ||||
Operating Loss Carryforwards [Line Items] | ||||
Interest on income taxes accrued | 69,000,000 | |||
Tax credit carryforward | $ 28,000,000 | $ 33,000,000 | ||
Towers Watson & Co. | ||||
Operating Loss Carryforwards [Line Items] | ||||
Release in valuation allowance | 69,000,000 | |||
Net deferred tax liability | 77,000,000 | |||
Cumulative earnings | 5,900,000,000 | |||
UNITED STATES | State and Local | Tax Year 2017 Through 2036 | ||||
Operating Loss Carryforwards [Line Items] | ||||
Operating loss carryforwards, subject to expiration | $ 1,200,000,000 |
X | ||||||||||
- Definition Amount of decrease reasonably possible in the next twelve months for the unrecognized tax benefit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards that are not subject to expiration dates. No definition available.
|
X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards that are subject to expiration dates. No definition available.
|
X | ||||||||||
- Definition Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences without jurisdictional netting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Percentage of domestic federal statutory tax rate applicable to pretax income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to increase (decrease) in the valuation allowance for deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition The portion of the valuation allowance pertaining to the deferred tax asset representing potential future taxable deductions from net operating loss carryforwards for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of the unrecognized tax benefit of a position taken for which it is reasonably possible that the total amount thereof will significantly increase or decrease within twelve months of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of the tax credit carryforward, before tax effects, available to reduce future taxable income under enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of undistributed earnings of foreign subsidiaries intended to be permanently reinvested outside the country of domicile. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of unrecognized tax benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of interest expense accrued for an underpayment of income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of interest expense for an underpayment of income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of increase (decrease) in unrecognized tax benefits attributable to uncertain tax positions taken in tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of increase (decrease) in the valuation allowance for a specified deferred tax asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Effective Income Tax Reconciliation, Foreign Statutory Income Tax Rate No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
|
Fixed Assets - Components of Fixed Assets (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Analysis of fixed asset activity | |||
Cost: at beginning of period | $ 1,091 | $ 980 | |
Additions | 311 | 146 | |
Acquisitions | 204 | 57 | |
Disposals | (36) | (47) | |
Foreign exchange | (89) | (45) | |
Cost: at end of period | 1,481 | 1,091 | $ 980 |
Movement in Accumulated Depreciation, Depletion and Amortization, Property, Plant and Equipment [Roll Forward] | |||
Depreciation: at beginning of period | (528) | (497) | |
Depreciation expense | (178) | (95) | (92) |
Disposals | 22 | 42 | |
Foreign exchange | 42 | 22 | |
Depreciation: at end of period | (642) | (528) | (497) |
Net book value | 839 | 563 | |
Furniture, equipment and software | |||
Analysis of fixed asset activity | |||
Cost: at beginning of period | 724 | 642 | |
Additions | 265 | 119 | |
Acquisitions | 109 | 26 | |
Disposals | (28) | (31) | |
Foreign exchange | (61) | (32) | |
Cost: at end of period | 1,009 | 724 | 642 |
Movement in Accumulated Depreciation, Depletion and Amortization, Property, Plant and Equipment [Roll Forward] | |||
Depreciation: at beginning of period | (393) | (366) | |
Depreciation expense | (119) | (72) | |
Disposals | 17 | 28 | |
Foreign exchange | 31 | 17 | |
Depreciation: at end of period | (464) | (393) | (366) |
Net book value | 545 | 331 | |
Leasehold improvements | |||
Analysis of fixed asset activity | |||
Cost: at beginning of period | 272 | 245 | |
Additions | 44 | 27 | |
Acquisitions | 95 | 26 | |
Disposals | (8) | (16) | |
Foreign exchange | (21) | (10) | |
Cost: at end of period | 382 | 272 | 245 |
Movement in Accumulated Depreciation, Depletion and Amortization, Property, Plant and Equipment [Roll Forward] | |||
Depreciation: at beginning of period | (94) | (93) | |
Depreciation expense | (55) | (19) | |
Disposals | 5 | 14 | |
Foreign exchange | 7 | 4 | |
Depreciation: at end of period | (137) | (94) | (93) |
Net book value | 245 | 178 | |
Land and buildings | |||
Analysis of fixed asset activity | |||
Cost: at beginning of period | 95 | 93 | |
Additions | 2 | 0 | |
Acquisitions | 0 | 5 | |
Disposals | 0 | 0 | |
Foreign exchange | (7) | (3) | |
Cost: at end of period | 90 | 95 | 93 |
Movement in Accumulated Depreciation, Depletion and Amortization, Property, Plant and Equipment [Roll Forward] | |||
Depreciation: at beginning of period | (41) | (38) | |
Depreciation expense | (4) | (4) | |
Disposals | 0 | 0 | |
Foreign exchange | 4 | 1 | |
Depreciation: at end of period | (41) | (41) | $ (38) |
Net book value | $ 49 | $ 54 |
X | ||||||||||
- Definition Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of decrease in accumulated depreciation, depletion and amortization as a result of sale or disposal of property, plant and equipment. No definition available.
|
X | ||||||||||
- Definition The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition Amount of acquisition of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
|
X | ||||||||||
- Definition Amount of divestiture of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
|
X | ||||||||||
- Definition Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Accumulated depreciation depletion and amortization foreign exchange. No definition available.
|
X | ||||||||||
- Definition Property, Plant and Equipment, Acquired No definition available.
|
X | ||||||||||
- Definition Property plant and equipment foreign exchange. No definition available.
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
|
Fixed Assets - Assets Held Under Capital Leases (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Property, Plant and Equipment [Abstract] | |||
Capital leases | $ 32 | $ 32 | |
Accumulated depreciation | (12) | (10) | |
Net book value | 20 | 22 | |
Capital Leases | |||
Property, Plant and Equipment [Line Items] | |||
Depreciation | $ 2 | $ 2 | $ 2 |
X | ||||||||||
- Definition Amount before accumulated depreciation of leased physical assets used in the normal conduct of business to produce goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The total gross amount less the charge for the use of the long-lived depreciable assets subject to a lease meeting the criteria for capitalization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The total charge for the use of long-lived depreciable assets subject to a lease meeting the criteria for capitalization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Details
|
Goodwill and Other Intangible Assets, Net - Narrative (Details) $ in Millions |
3 Months Ended | 12 Months Ended | ||||
---|---|---|---|---|---|---|
Dec. 31, 2016
USD ($)
segment
|
Jun. 30, 2016
segment
|
Dec. 31, 2016
USD ($)
|
Dec. 31, 2015
USD ($)
|
Dec. 31, 2014
USD ($)
|
Jan. 04, 2016
USD ($)
|
|
Finite-Lived Intangible Assets [Line Items] | ||||||
Number of reportable segments | segment | 4 | 8 | ||||
Amortization | $ 591 | $ 76 | $ 54 | |||
Acquired unfavorable lease liabilities | $ 29 | $ 29 | 23 | |||
Weighted average remaining life of amortizable intangible assets | 14 years 10 months | |||||
In Process Research and Development | ||||||
Finite-Lived Intangible Assets [Line Items] | ||||||
Intangible asset | $ 36 | $ 36 | $ 39 | |||
Excluding Above Market Leases | ||||||
Finite-Lived Intangible Assets [Line Items] | ||||||
Amortization | $ 591 | $ 76 | $ 54 |
X | ||||||||||
- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Amount of assets, excluding financial assets and goodwill, lacking physical substance and having a projected indefinite period of benefit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of segments reported by the entity. A reportable segment is a component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements. No definition available.
|
X | ||||||||||
- Definition Above Market Lease, Net No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Goodwill and Other Intangible Assets, Net - Components of Goodwill (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Goodwill [Roll Forward] | |||
Goodwill, gross, beginning balance | $ 10,905 | $ 4,229 | $ 3,429 |
Accumulated impairment losses, beginning balance | (492) | (492) | |
Goodwill, net, beginning balance | 3,737 | 2,937 | |
Purchase price allocation adjustments | 6 | 1 | |
Goodwill acquired during the period | 6,785 | 865 | |
Goodwill disposed of during the period | (5) | (13) | |
Foreign exchange | (110) | (53) | |
Goodwill, gross, ending balance | 10,905 | 4,229 | |
Accumulated impairment losses, ending balance | (492) | (492) | |
Goodwill, net, ending balance | 10,413 | 3,737 | |
HCB | |||
Goodwill [Roll Forward] | |||
Goodwill, gross, beginning balance | 4,412 | 986 | 677 |
Accumulated impairment losses, beginning balance | (130) | (130) | |
Goodwill, net, beginning balance | 856 | 547 | |
Purchase price allocation adjustments | 8 | 1 | |
Goodwill acquired during the period | 3,458 | 330 | |
Goodwill disposed of during the period | 0 | (3) | |
Foreign exchange | (40) | (19) | |
Goodwill, gross, ending balance | 4,412 | 986 | |
Accumulated impairment losses, ending balance | (130) | (130) | |
Goodwill, net, ending balance | 4,282 | 856 | |
CRB | |||
Goodwill [Roll Forward] | |||
Goodwill, gross, beginning balance | 2,178 | 2,212 | 1,897 |
Accumulated impairment losses, beginning balance | (362) | (362) | |
Goodwill, net, beginning balance | 1,850 | 1,535 | |
Purchase price allocation adjustments | 5 | 0 | |
Goodwill acquired during the period | 0 | 348 | |
Goodwill disposed of during the period | (5) | (9) | |
Foreign exchange | (34) | (24) | |
Goodwill, gross, ending balance | 2,178 | 2,212 | |
Accumulated impairment losses, ending balance | (362) | (362) | |
Goodwill, net, ending balance | 1,816 | 1,850 | |
IRR | |||
Goodwill [Roll Forward] | |||
Goodwill, gross, beginning balance | 1,758 | 1,031 | 855 |
Accumulated impairment losses, beginning balance | 0 | 0 | |
Goodwill, net, beginning balance | 1,031 | 855 | |
Purchase price allocation adjustments | (7) | 0 | |
Goodwill acquired during the period | 770 | 187 | |
Goodwill disposed of during the period | 0 | (1) | |
Foreign exchange | (36) | (10) | |
Goodwill, gross, ending balance | 1,758 | 1,031 | |
Accumulated impairment losses, ending balance | 0 | 0 | |
Goodwill, net, ending balance | 1,758 | 1,031 | |
ES | |||
Goodwill [Roll Forward] | |||
Goodwill, gross, beginning balance | 2,557 | 0 | $ 0 |
Accumulated impairment losses, beginning balance | 0 | 0 | |
Goodwill, net, beginning balance | 0 | 0 | |
Purchase price allocation adjustments | 0 | 0 | |
Goodwill acquired during the period | 2,557 | 0 | |
Goodwill disposed of during the period | 0 | 0 | |
Foreign exchange | 0 | 0 | |
Goodwill, gross, ending balance | 2,557 | 0 | |
Accumulated impairment losses, ending balance | 0 | 0 | |
Goodwill, net, ending balance | $ 2,557 | $ 0 |
X | ||||||||||
- Definition Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of increase in asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized resulting from a business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of foreign currency translation gain (loss) which increases (decreases) an asset representing future economic benefits from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount before accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of accumulated impairment loss for an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of increase (decrease) from adjustments after acquisition date under purchase accounting of an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
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- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition Amount of divestiture of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Goodwill and Other Intangible Assets, Net - Finite-Lived Intangible Assets and Liabilities (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Finite-lived Intangible Assets [Roll Forward] | |||
Balance as of beginning of period | $ 1,115 | $ 450 | |
Purchase price allocation adjustments | (10) | ||
Intangible assets acquired | 3,953 | 773 | |
Intangible assets disposed | (5) | (5) | |
Amortization | (591) | (76) | $ (54) |
Amortization | (593) | ||
Foreign Exchange | (128) | (27) | |
Balance as of end of period | 4,332 | 1,115 | 450 |
Gross Carrying Amount | 5,275 | 1,499 | |
Accumulated Amortization | (943) | (384) | |
Unfavorable agreements, Gross Carrying Amount | 34 | 23 | |
Unfavorable agreements, Accumulated Amortization | 5 | 0 | |
Client relationships | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Balance as of beginning of period | 920 | 373 | |
Purchase price allocation adjustments | 2 | ||
Intangible assets acquired | 2,222 | 642 | |
Intangible assets disposed | (5) | (5) | |
Amortization | (69) | ||
Amortization | (395) | ||
Foreign Exchange | (89) | (21) | |
Balance as of end of period | 2,655 | 920 | 373 |
Gross Carrying Amount | 3,396 | 1,293 | |
Accumulated Amortization | (741) | (373) | |
Management contracts | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Balance as of beginning of period | 62 | 70 | |
Purchase price allocation adjustments | 0 | ||
Intangible assets acquired | 0 | 0 | |
Intangible assets disposed | 0 | 0 | |
Amortization | (4) | ||
Amortization | (4) | ||
Foreign Exchange | (4) | (4) | |
Balance as of end of period | 54 | 62 | 70 |
Gross Carrying Amount | 62 | 67 | |
Accumulated Amortization | (8) | (5) | |
Software | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Balance as of beginning of period | 77 | 0 | |
Purchase price allocation adjustments | (13) | ||
Intangible assets acquired | 675 | 77 | |
Intangible assets disposed | 0 | 0 | |
Amortization | 0 | ||
Amortization | (142) | ||
Foreign Exchange | (27) | 0 | |
Balance as of end of period | 570 | 77 | 0 |
Gross Carrying Amount | 711 | 77 | |
Accumulated Amortization | (141) | 0 | |
Trademark and trade name | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Balance as of beginning of period | 50 | 3 | |
Purchase price allocation adjustments | 1 | ||
Intangible assets acquired | 1,003 | 50 | |
Intangible assets disposed | 0 | 0 | |
Amortization | (2) | ||
Amortization | (45) | ||
Foreign Exchange | (3) | (1) | |
Balance as of end of period | 1,006 | 50 | 3 |
Gross Carrying Amount | 1,051 | 52 | |
Accumulated Amortization | (45) | (2) | |
Product | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Balance as of beginning of period | 0 | ||
Purchase price allocation adjustments | 0 | ||
Intangible assets acquired | 42 | ||
Intangible assets disposed | 0 | ||
Amortization | (3) | ||
Foreign Exchange | (6) | ||
Balance as of end of period | 33 | 0 | |
Gross Carrying Amount | 36 | 0 | |
Accumulated Amortization | (3) | 0 | |
Favorable agreements | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Balance as of beginning of period | 2 | 0 | |
Purchase price allocation adjustments | 0 | ||
Intangible assets acquired | 11 | 2 | |
Intangible assets disposed | 0 | 0 | |
Amortization | 0 | ||
Amortization | (2) | ||
Foreign Exchange | 0 | 0 | |
Balance as of end of period | 11 | 2 | 0 |
Gross Carrying Amount | 13 | 2 | |
Accumulated Amortization | (2) | 0 | |
Other | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Balance as of beginning of period | 4 | 4 | |
Purchase price allocation adjustments | 0 | ||
Intangible assets acquired | 0 | 2 | |
Intangible assets disposed | 0 | 0 | |
Amortization | (1) | ||
Amortization | (2) | ||
Foreign Exchange | 1 | (1) | |
Balance as of end of period | 3 | 4 | $ 4 |
Gross Carrying Amount | 6 | 8 | |
Accumulated Amortization | (3) | (4) | |
Unfavorable agreements | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Unfavorable agreements, Gross Carrying Amount | 34 | 23 | |
Unfavorable agreements, Accumulated Amortization | $ 5 | $ 0 |
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- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of foreign currency translation gain (loss) which increases (decreases) assets, excluding financial assets and goodwill, lacking physical substance with a finite life. No definition available.
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- Definition Amount before amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
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- Definition Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
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- Definition Amount of increase (decrease) to assets, excluding financial assets and goodwill, lacking physical substance with a finite life for purchase accounting adjustments. No definition available.
|
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- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
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- Definition Amount of increase in assets, excluding financial assets, lacking physical substance with a definite life, from an acquisition. No definition available.
|
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- Definition Above Market Lease, Accumulated Amortization No definition available.
|
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- Definition Above Market Lease, Gross No definition available.
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- Definition Amortization of Intangible Assets, Including Above Market Leases No definition available.
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- Definition Finite-lived Intangible Assets Disposed No definition available.
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Goodwill and Other Intangible Assets, Net - Schedule of Future Amortization Expense and Rent Offset (Details) $ in Millions |
Dec. 31, 2016
USD ($)
|
---|---|
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract] | |
2017 | $ 563 |
2018 | 514 |
2019 | 458 |
2020 | 406 |
2021 | 333 |
Thereafter | 2,047 |
Total | 4,321 |
Rent offset | |
2017 | (4) |
2018 | (3) |
2019 | (2) |
2020 | (2) |
2021 | (3) |
Thereafter | (4) |
Total | $ (18) |
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- References No definition available.
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- References No definition available.
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- Definition Amortization of Above and Below Market Leases, Rent Offset, Net No definition available.
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- Definition Amortization of Above and Below Market Leases, Rent Offset, Next Fiscal Year No definition available.
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- Definition Amortization of Above and Below Market Leases, Rent Offset, Year Five No definition available.
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- Definition Amortization of Above and Below Market Leases, Rent Offset, Year Four No definition available.
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- Definition Amortization of Above and Below Market Leases, Rent Offset, Year Three No definition available.
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- Definition Amortization of Above and Below Market Leases, Rent Offset, Year Two No definition available.
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- Definition Amortization of Above and Below Market Leases, Rent Offset, after Year Five No definition available.
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- Definition Finite-Lived Intangible Assets, Amortization Expense, Next Fiscal Year (Excluding Above and Below Market Leases) No definition available.
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- Definition Finite-Lived Intangible Assets, Amortization Expense, Year Five (Excluding Above and Below Market Leases) No definition available.
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- Definition Finite-Lived Intangible Assets, Amortization Expense, Year Four (Excluding Above and Below Market Leases) No definition available.
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- Definition Finite-Lived Intangible Assets, Amortization Expense, Year Three (Excluding Above and Below Market Leases) No definition available.
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- Definition Finite-Lived Intangible Assets, Amortization Expense, Year Two (Excluding Above and Below Market Leases) No definition available.
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- Definition Finite-Lived Intangible Assets, Amortization Expense, after Year Five (Excluding Above and Below Market Leases) No definition available.
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- Definition Finite-Lived Intangible Assets, Net (Excluding Above and Below Market Leases) No definition available.
|
Derivative Financial Instruments (Details) - USD ($) |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Derivative [Line Items] | |||
Derivative, loss on derivative within the next twelve months | $ 64,000,000 | ||
Not Designated as Hedging Instrument | Forward exchange contracts | |||
Derivative [Line Items] | |||
Derivative, notional amount | 630,000,000 | $ 574,000,000 | |
Derivative liability, fair value | 8,000,000 | 3,000,000 | |
Cash Flow Hedges | Designated as Hedging Instrument | Interest rate swaps | |||
Derivative [Line Items] | |||
Derivative, notional amount | 300,000,000 | 300,000,000 | |
Derivative asset, fair value | 0 | 0 | |
Cash Flow Hedges | Designated as Hedging Instrument | Forward exchange contracts | |||
Derivative [Line Items] | |||
Derivative, notional amount | 945,000,000 | 1,200,000,000 | |
Derivative liability, fair value | 110,000,000 | 28,000,000 | |
Loss recognized in OCI (effective portion) | (127,000,000) | (38,000,000) | $ (31,000,000) |
(Loss)/gain reclassified from OCI into income (effective portion) | (42,000,000) | 4,000,000 | 16,000,000 |
(Loss)/gain recognized in income (ineffective portion and amount excluded from effectiveness testing) | $ (1,000,000) | $ 1,000,000 | $ (1,000,000) |
Maximum | |||
Derivative [Line Items] | |||
Longest outstanding maturity | 2 years 6 months |
X | ||||||||||
- Definition Aggregate notional amount specified by the derivative(s). Expressed as an absolute value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The estimated value of gains (losses), net anticipated to be transferred in the future from accumulated other comprehensive income into earnings. No definition available.
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- Definition The effective portion of net gain (loss) reclassified from accumulated other comprehensive income into income on derivative instruments designated and qualifying as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of gains and losses (net) on derivative instruments designated and qualifying as hedging instruments representing (a) the amount of the hedge ineffectiveness and (b) the amount, if any, excluded from the assessment of hedge effectiveness. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The effective portion of gains and losses (net) on derivative instruments designated and qualifying as hedging instruments that was recognized in other comprehensive income during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Period remaining until the derivative contract matures, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
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Debt - Schedule of Short-term Debt and Current Maturities of Long-Term Debt (Details) - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Short-term Debt [Line Items] | ||
Short-term debt and current portion of the long-term debt | $ 508 | $ 988 |
Term Loan | 7-year term loan facility expires 2018 | ||
Short-term Debt [Line Items] | ||
Short-term debt and current portion of the long-term debt | 22 | 22 |
Term Loan | Term loan expires 2019 | ||
Short-term Debt [Line Items] | ||
Short-term debt and current portion of the long-term debt | $ 85 | 0 |
7-year term loan facility expires 2018 | 7-year term loan facility expires 2018 | ||
Short-term Debt [Line Items] | ||
Term loan period | 7 years | |
Senior Notes | 4.125% senior notes due 2016 | ||
Short-term Debt [Line Items] | ||
Short-term debt and current portion of the long-term debt | $ 0 | 300 |
Stated interest rate (as a percent) | 4.125% | |
Senior Notes | 6.200% senior notes due 2017 | ||
Short-term Debt [Line Items] | ||
Short-term debt and current portion of the long-term debt | $ 394 | 0 |
Stated interest rate (as a percent) | 6.20% | |
Bank Overdrafts | ||
Short-term Debt [Line Items] | ||
Short-term debt and current portion of the long-term debt | $ 5 | 79 |
Other | ||
Short-term Debt [Line Items] | ||
Short-term debt and current portion of the long-term debt | 2 | 0 |
Line of Credit | Term Loan | 1-year term loan facility matures 2016 | ||
Short-term Debt [Line Items] | ||
Short-term debt and current portion of the long-term debt | $ 0 | $ 587 |
Term loan period | 1 year |
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- Definition Amount of short-term debt and current maturity of long-term debt and capital lease obligations due within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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Debt - Schedule of Long-term Debt (Details) - USD ($) |
12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Jan. 04, 2016 |
Mar. 28, 2007 |
Dec. 31, 2016 |
May 26, 2016 |
Mar. 22, 2016 |
Dec. 31, 2015 |
Aug. 31, 2013 |
Aug. 15, 2013 |
Mar. 11, 2011 |
Sep. 30, 2009 |
|
Debt Instrument [Line Items] | ||||||||||
Long-term debt, excluding current maturities | $ 3,357,000,000 | $ 2,278,000,000 | ||||||||
Line of Credit | Revolving Credit Facility | Revolving $800 million credit facility | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Long-term debt, excluding current maturities | 238,000,000 | 467,000,000 | ||||||||
Maximum borrowing capacity | 800,000,000 | |||||||||
Notes Payable | 7-year term loan facility expires 2018 | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Long-term debt, excluding current maturities | $ 196,000,000 | 218,000,000 | ||||||||
Term loan period | 7 years | |||||||||
Notes Payable | Term loan expires 2019 | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Long-term debt, excluding current maturities | $ 169,000,000 | 0 | ||||||||
Term loan period | 4 years | |||||||||
Senior Notes | 6.200% senior notes due 2017 | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Long-term debt, excluding current maturities | $ 0 | 394,000,000 | ||||||||
Term loan period | 10 years | |||||||||
Stated interest rate (as a percent) | 6.20% | 6.20% | 6.20% | |||||||
Senior Notes | 7.000% senior notes due 2019 | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Long-term debt, excluding current maturities | $ 186,000,000 | 186,000,000 | ||||||||
Stated interest rate (as a percent) | 7.00% | 7.00% | 7.00% | |||||||
Senior Notes | 5.750% senior notes due 2021 | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Long-term debt, excluding current maturities | $ 496,000,000 | 495,000,000 | ||||||||
Stated interest rate (as a percent) | 5.75% | 5.75% | ||||||||
Senior Notes | 3.500% senior notes due 2021 | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Long-term debt, excluding current maturities | $ 446,000,000 | 0 | ||||||||
Stated interest rate (as a percent) | 3.50% | 3.50% | ||||||||
Senior Notes | 2.125% senior notes due 2022 | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Long-term debt, excluding current maturities | $ 565,000,000 | 0 | ||||||||
Stated interest rate (as a percent) | 2.125% | 2.125% | ||||||||
Senior Notes | 4.625% senior notes due 2023 | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Long-term debt, excluding current maturities | $ 247,000,000 | 247,000,000 | ||||||||
Stated interest rate (as a percent) | 4.625% | 4.625% | ||||||||
Senior Notes | 4.400% senior notes due 2026 | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Long-term debt, excluding current maturities | $ 543,000,000 | 0 | ||||||||
Stated interest rate (as a percent) | 4.40% | 4.40% | ||||||||
Senior Notes | 6.125% senior notes due 2043 | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Long-term debt, excluding current maturities | $ 271,000,000 | $ 271,000,000 | ||||||||
Stated interest rate (as a percent) | 6.125% | 6.125% |
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- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
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- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after unamortized (discount) premium and debt issuance costs of long-term debt classified as noncurrent and excluding amounts to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Debt - Narrative (Details) |
1 Months Ended | 12 Months Ended | |||||||||||||||
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May 26, 2016
EUR (€)
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May 26, 2016
USD ($)
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Mar. 22, 2016
USD ($)
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Mar. 15, 2016
USD ($)
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Jan. 04, 2016
USD ($)
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Dec. 28, 2015
USD ($)
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Dec. 19, 2015
EUR (€)
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Dec. 19, 2015
USD ($)
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Nov. 20, 2015
EUR (€)
tranche
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Mar. 28, 2007
USD ($)
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Aug. 31, 2013
USD ($)
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Dec. 31, 2016
USD ($)
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Dec. 31, 2015
USD ($)
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Aug. 15, 2013
USD ($)
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Mar. 17, 2011
USD ($)
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Mar. 11, 2011
USD ($)
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Sep. 30, 2009
USD ($)
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Senior Notes | 4.125% Senior Notes Due 2016 | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Stated interest rate (as a percent) | 4.125% | ||||||||||||||||
Senior Notes | 6.200% senior notes due 2017 | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Stated interest rate (as a percent) | 6.20% | ||||||||||||||||
Line of Credit | Notes Payable | 1-year Term Loan Facility Matures 2016 | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Term loan period | 1 year | 1 year | |||||||||||||||
Number of tranches | tranche | 2 | ||||||||||||||||
Short-term borrowings outstanding | $ 592,000,000 | ||||||||||||||||
Debt issuance fees | 5,000,000 | ||||||||||||||||
Line of Credit | Notes Payable | 1-year Term Loan Facility Matures 2016, Tranche one | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Term loan period | 1 year | 1 year | |||||||||||||||
Maximum borrowing capacity | € | € 550,000,000 | ||||||||||||||||
Amounts drawn on line of credit | € 544,000,000 | $ 592,000,000 | |||||||||||||||
Line of Credit | Notes Payable | 1-year Term Loan Facility Matures 2016, Tranche two | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Repayment of line of credit | $ 400,000,000 | ||||||||||||||||
Amounts drawn on line of credit | $ 400,000,000 | ||||||||||||||||
Line of Credit | Revolving Credit Facility | Revolving $800 million Credit Facility | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Current borrowing capacity | $ 400,000,000 | ||||||||||||||||
Repayment of line of credit | 300,000,000 | ||||||||||||||||
Maximum borrowing capacity | 800,000,000 | ||||||||||||||||
Long-term borrowings outstanding | $ 238,000,000 | 467,000,000 | |||||||||||||||
Line of Credit | Revolving Credit Facility | Revolving $800 million Credit Facility | LIBOR | Minimum | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Interest rate spread (as a percent) | 1.25% | ||||||||||||||||
Line of Credit | Revolving Credit Facility | Revolving $800 million Credit Facility | LIBOR | Maximum | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Interest rate spread (as a percent) | 2.00% | ||||||||||||||||
Line of Credit | Revolving Credit Facility | Revolving $800 million Credit Facility | Bank Base Rate | Minimum | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Interest rate spread (as a percent) | 0.25% | ||||||||||||||||
Line of Credit | Revolving Credit Facility | Revolving $800 million Credit Facility | Bank Base Rate | Maximum | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Interest rate spread (as a percent) | 1.00% | ||||||||||||||||
Line of Credit | Revolving Credit Facility | WSI Revolving Credit Facility | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Long-term borrowings outstanding | $ 0 | $ 0 | |||||||||||||||
Line of Credit | Revolving Credit Facility | WSI Revolving Credit Facility | LIBOR | Minimum | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Interest rate spread (as a percent) | 1.25% | ||||||||||||||||
Line of Credit | Revolving Credit Facility | WSI Revolving Credit Facility | LIBOR | Maximum | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Interest rate spread (as a percent) | 2.00% | ||||||||||||||||
Line of Credit | Revolving Credit Facility | WSI Revolving Credit Facility | Bank Base Rate | Minimum | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Interest rate spread (as a percent) | 0.25% | ||||||||||||||||
Line of Credit | Revolving Credit Facility | WSI Revolving Credit Facility | Bank Base Rate | Maximum | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Interest rate spread (as a percent) | 1.00% | ||||||||||||||||
Notes Payable | 7-year term loan facility expires 2018 | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Term loan period | 7 years | ||||||||||||||||
Quarterly payment | $ 6,000,000 | ||||||||||||||||
Final payment of debt | 186,000,000 | ||||||||||||||||
Notes Payable | Term loan expires 2019 | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Face amount of note | $ 340,000,000 | ||||||||||||||||
Proceeds from long-term debt issuance | $ 340,000,000 | ||||||||||||||||
Term loan period | 4 years | ||||||||||||||||
Quarterly payment | 21,000,000 | ||||||||||||||||
Debt issuance fees | $ 1,000,000 | ||||||||||||||||
Weighted average interest rate (as a percent) | 1.83% | ||||||||||||||||
Long-term debt, gross | $ 255,000,000 | ||||||||||||||||
Notes Payable | Term loan expires 2019 | LIBOR | Minimum | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Interest rate spread (as a percent) | 1.25% | ||||||||||||||||
Notes Payable | Term loan expires 2019 | LIBOR | Maximum | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Interest rate spread (as a percent) | 1.75% | ||||||||||||||||
Notes Payable | Term loan expires 2019 | Bank Base Rate | Minimum | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Interest rate spread (as a percent) | 0.25% | ||||||||||||||||
Notes Payable | Term loan expires 2019 | Bank Base Rate | Maximum | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Interest rate spread (as a percent) | 0.75% | ||||||||||||||||
Senior Notes | 2.125% senior notes due 2022 | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Stated interest rate (as a percent) | 2.125% | 2.125% | 2.125% | ||||||||||||||
Effective interest rate (as a percent) | 2.154% | ||||||||||||||||
Proceeds from long-term debt issuance | € 535,000,000 | $ 600,000,000 | |||||||||||||||
Senior Notes | Senior Notes Due 2021 and 2026 | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Proceeds from long-term debt issuance | 988,000,000 | ||||||||||||||||
Senior Notes | 3.500% senior notes due 2021 | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Face amount of note | $ 450,000,000 | ||||||||||||||||
Stated interest rate (as a percent) | 3.50% | 3.50% | |||||||||||||||
Effective interest rate (as a percent) | 3.707% | ||||||||||||||||
Senior Notes | 4.400% senior notes due 2026 | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Face amount of note | $ 550,000,000 | ||||||||||||||||
Stated interest rate (as a percent) | 4.40% | 4.40% | |||||||||||||||
Effective interest rate (as a percent) | 4.572% | ||||||||||||||||
Senior Notes | 4.125% Senior Notes Due 2016 | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Face amount of note | $ 300,000,000 | ||||||||||||||||
Stated interest rate (as a percent) | 4.125% | ||||||||||||||||
Effective interest rate (as a percent) | 4.24% | ||||||||||||||||
Senior Notes | 4.625% senior notes due 2023 | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Face amount of note | $ 250,000,000 | ||||||||||||||||
Stated interest rate (as a percent) | 4.625% | 4.625% | |||||||||||||||
Effective interest rate (as a percent) | 4.696% | ||||||||||||||||
Senior Notes | 6.125% senior notes due 2043 | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Face amount of note | $ 275,000,000 | ||||||||||||||||
Stated interest rate (as a percent) | 6.125% | 6.125% | |||||||||||||||
Effective interest rate (as a percent) | 6.154% | ||||||||||||||||
Senior Notes | 5.750% senior notes due 2021 | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Face amount of note | $ 800,000,000 | $ 500,000,000 | |||||||||||||||
Stated interest rate (as a percent) | 5.75% | 5.75% | |||||||||||||||
Effective interest rate (as a percent) | 5.871% | ||||||||||||||||
Repayments of debt | $ 300,000,000 | ||||||||||||||||
Senior Notes | 7.000% senior notes due 2019 | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Face amount of note | $ 300,000,000 | ||||||||||||||||
Stated interest rate (as a percent) | 7.00% | 7.00% | 7.00% | ||||||||||||||
Effective interest rate (as a percent) | 7.081% | ||||||||||||||||
Repayments of debt | $ 113,000,000 | ||||||||||||||||
Senior Notes | 6.200% senior notes due 2017 | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Face amount of note | $ 600,000,000 | ||||||||||||||||
Stated interest rate (as a percent) | 6.20% | 6.20% | 6.20% | ||||||||||||||
Effective interest rate (as a percent) | 6.253% | ||||||||||||||||
Term loan period | 10 years | ||||||||||||||||
Repayment of line of credit | $ 200,000,000 | ||||||||||||||||
Repayments of debt | $ 206,000,000 | ||||||||||||||||
BBB | Baa3 | Line of Credit | Revolving Credit Facility | Revolving $800 million Credit Facility | LIBOR | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Interest rate spread (as a percent) | 1.375% | ||||||||||||||||
BBB | Baa3 | Line of Credit | Revolving Credit Facility | WSI Revolving Credit Facility | LIBOR | |||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||
Interest rate spread (as a percent) | 1.50% |
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- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. No definition available.
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- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Amount of the required periodic payments including both interest and principal payments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of payment greater than the preceding installment payments to be paid at final maturity date of debt. No definition available.
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- Definition Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
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- Definition Weighted average interest rate of debt outstanding. No definition available.
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- Definition Amount, after accumulated amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of current borrowing capacity under the credit facility considering any current restrictions on the amount that could be borrowed (for example, borrowings may be limited by the amount of current assets), but without considering any amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash outflow during the period from the repayment of aggregate short-term and long-term debt. Excludes payment of capital lease obligations. No definition available.
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- Definition Amount of cash outflow for payment of an obligation from a lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Debt, Current, Gross No definition available.
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- Definition Debt Instrument, Number of Tranches No definition available.
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Debt - Maturities Of Long Term Debt (Details) $ in Millions |
Dec. 31, 2016
USD ($)
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Debt Instrument [Line Items] | |
2017 | $ 636 |
2018 | 641 |
2019 | 391 |
2020 | 109 |
2021 | 1,032 |
Thereafter | 2,134 |
Total | 4,943 |
Senior Notes | |
Debt Instrument [Line Items] | |
2017 | 394 |
2018 | 0 |
2019 | 187 |
2020 | 0 |
2021 | 950 |
Thereafter | 1,645 |
Total | 3,176 |
Senior Notes | Interest on Senior Notes | |
Debt Instrument [Line Items] | |
2017 | 128 |
2018 | 122 |
2019 | 119 |
2020 | 109 |
2021 | 82 |
Thereafter | 489 |
Total | 1,049 |
Term Loan | |
Debt Instrument [Line Items] | |
2017 | 107 |
2018 | 281 |
2019 | 85 |
2020 | 0 |
2021 | 0 |
Thereafter | 0 |
Total | 473 |
Other | |
Debt Instrument [Line Items] | |
2017 | 7 |
2018 | 0 |
2019 | 0 |
2020 | 0 |
2021 | 0 |
Thereafter | 0 |
Total | 7 |
Revolving Credit Facility | Line of Credit | Revolving $800 million credit facility | |
Debt Instrument [Line Items] | |
2017 | 0 |
2018 | 238 |
2019 | 0 |
2020 | 0 |
2021 | 0 |
Thereafter | 0 |
Total | $ 238 |
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Debt - Interest Expense (Details) - USD ($) $ in Millions |
12 Months Ended | ||
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Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
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Debt Instrument [Line Items] | |||
Interest expense | $ 184 | $ 142 | $ 135 |
Senior Notes | |||
Debt Instrument [Line Items] | |||
Interest expense | 139 | 114 | 117 |
Term Loan | |||
Debt Instrument [Line Items] | |||
Interest expense | 17 | 5 | 5 |
Other | |||
Debt Instrument [Line Items] | |||
Interest expense | 16 | 15 | 6 |
Revolving Credit Facility | Line of Credit | Revolving $800 million credit facility | |||
Debt Instrument [Line Items] | |||
Interest expense | 10 | 6 | 3 |
Revolving Credit Facility | Line of Credit | WSI Revolving Credit Facility | |||
Debt Instrument [Line Items] | |||
Interest expense | $ 2 | $ 2 | $ 4 |
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Millions |
12 Months Ended | |
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Dec. 31, 2016 |
Dec. 31, 2015 |
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Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mutual funds / exchange traded funds | $ 37 | |
Derivative financial instruments, assets | 15 | $ 26 |
Contingent consideration | 55 | 74 |
Derivative financial instruments, liabilities | 133 | 57 |
Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mutual funds / exchange traded funds | 37 | |
Derivative financial instruments, assets | 0 | 0 |
Contingent consideration | 0 | 0 |
Derivative financial instruments, liabilities | 0 | 0 |
Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mutual funds / exchange traded funds | 0 | |
Derivative financial instruments, assets | 15 | 26 |
Contingent consideration | 0 | 0 |
Derivative financial instruments, liabilities | 133 | 57 |
Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mutual funds / exchange traded funds | 0 | |
Derivative financial instruments, assets | 0 | 0 |
Contingent consideration | 55 | 74 |
Derivative financial instruments, liabilities | $ 0 | $ 0 |
Obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Weighted average discount rate on material contingent consideration calculation | 10.76% |
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- Definition Amount of investment in debt and equity securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Interest rate used to find the present value of an amount to be paid or received in the future as an input to measure fair value. For example, but not limited to, weighted average cost of capital (WACC), cost of capital, cost of equity and cost of debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Fair value of obligations measured on a recurring basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Fair Value Measurements - Fair Value Liabilities Measured Using Significant Unobservable Inputs Level 3 (Details) $ in Millions |
12 Months Ended |
---|---|
Dec. 31, 2016
USD ($)
| |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |
Balance as of beginning of period | $ 74 |
Obligations assumed | 3 |
Payments | (11) |
Realized and unrealized losses | (5) |
Foreign exchange | (6) |
Balance as of end of period | $ 55 |
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition Amount of gain (loss) recognized on the income statement for financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of gain (loss) recognized in other comprehensive income (loss) for financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of purchases of financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of settlements of financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Fair value of financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Fair Value Measurements - Schedule of Liabilities Whose Carrying Values Differ From the Fair Value and are Not Measured on a Recurring Basis (Details) - Nonrecurring - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
---|---|---|
Carrying Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Current portion of long term debt | $ 508 | $ 988 |
Long-term debt | 3,357 | 2,278 |
Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Current portion of long term debt | 513 | 998 |
Long-term debt | $ 3,504 | $ 2,394 |
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Long-term Debt, Current Maturities, Fair Value No definition available.
|
X | ||||||||||
- Definition Long-term Debt, Excluding Current Maturities, Fair Value No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Retirement Benefits - Narrative (Details) - USD ($) $ in Millions |
12 Months Ended | ||||
---|---|---|---|---|---|
Jan. 04, 2016 |
Mar. 06, 2015 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Defined Benefit Plan Disclosure [Line Items] | |||||
Portion of pension and OPEB obligation attributed to disclosed plans (as a percent) | 99.00% | ||||
Towers Watson & Co. | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Plan assets acquired | $ 3,700 | ||||
Benefit obligation acquired | 4,600 | ||||
Pension assets | 67 | ||||
Liability for pension benefits | $ (923) | ||||
U.S. Defined Contribution Plan | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined contribution plan expenses | $ 152 | $ 77 | $ 70 | ||
U.K. | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Plan assets acquired | 906 | 202 | |||
Benefit obligation acquired | 842 | 224 | |||
Plan amendments | $ (215) | 0 | (215) | ||
PRW | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Plan assets acquired | 4 | 0 | |||
Benefit obligation acquired | 112 | 0 | |||
Plan amendments | $ 0 | $ 0 | |||
Average remaining service period | 9 years 6 months | ||||
Change in Assumptions for Pension Plans | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Credit to net periodic benefit income | $ 51 | ||||
Defined Contribution Plan Tranche One | Towers Watson & Co. | U.S. Defined Contribution Plan | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Employer matching contribution, percent of match | 100.00% | ||||
Maximum annual contributions per employee, percent | 2.00% | ||||
Vesting period | 2 years | ||||
Defined Contribution Plan Tranche Two | Towers Watson & Co. | U.S. Defined Contribution Plan | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Employer matching contribution, percent of match | 50.00% | ||||
Maximum annual contributions per employee, percent | 4.00% |
X | ||||||||||
- Definition The amount of increase in the benefit obligation attributed to business combinations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of increase in the plan assets attributed to a business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition The amount of increase or decrease due to a change in the terms of an existing plan or the initiation of a new plan. A plan amendment may increase or decrease benefits, including those attributed to years of service already rendered. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of the cost recognized during the period for defined contribution plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Percentage employer matches of the employee's percentage contribution matched. No definition available.
|
X | ||||||||||
- Definition Maximum percentage of employee gross pay the employee may contribute to a defined contribution plan. No definition available.
|
X | ||||||||||
- Definition Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Pension and Postretirement Liabilities No definition available.
|
X | ||||||||||
- Definition Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Pension Assets No definition available.
|
X | ||||||||||
- Definition Defined Benefit Plan, Average Remaining Service Period No definition available.
|
X | ||||||||||
- Definition Defined Benefit Plan, Net Periodic Benefit Cost, Period Increase (Decrease) No definition available.
|
X | ||||||||||
- Definition Defined Benefit Plans, Percentage of Obligation from Plans No definition available.
|
X | ||||||||||
- Definition Defined Contribution Plan, Vesting Period No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Retirement Benefits - Change in Benefit Obligation and Plan Assets (Details) - USD ($) $ in Millions |
12 Months Ended | |||
---|---|---|---|---|
Mar. 06, 2015 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Change in Plan Assets | ||||
Fair value of plan assets, beginning of year | $ 4,385 | |||
Fair value of plan assets, end of year | 8,109 | $ 4,385 | ||
Non-current liability for pension benefits | (1,321) | (279) | ||
U.S. | ||||
Change in Benefit Obligation | ||||
Benefit obligation, beginning of year | 976 | 1,066 | ||
Service cost | 59 | 0 | $ 0 | |
Interest cost | 137 | 41 | 41 | |
Employee contributions | 0 | 0 | ||
Actuarial losses/(gains) | 151 | (92) | ||
Curtailment loss | 0 | 0 | ||
Settlements | 0 | 0 | ||
Benefits paid | (166) | (39) | ||
Business combinations | 3,012 | 0 | ||
Transfers in | 0 | 0 | ||
Foreign currency changes | 0 | 0 | ||
Plan amendments | 0 | 0 | ||
Benefit obligation, end of year | 4,169 | 976 | 1,066 | |
Change in Plan Assets | ||||
Fair value of plan assets, beginning of year | 749 | 806 | ||
Actual return on plan assets | 153 | (19) | ||
Employer contributions | 91 | 1 | ||
Employee contributions | 0 | 0 | ||
Settlements | 0 | 0 | ||
Benefits paid | (166) | (39) | ||
Business combinations | 2,453 | 0 | ||
Transfers in | 0 | 0 | ||
Foreign currency adjustment | 0 | 0 | ||
Fair value of plan assets, end of year | 3,280 | 749 | 806 | |
Funded status at end of year | (889) | (227) | ||
Accumulated Benefit Obligation | 4,169 | 975 | ||
Pension benefits assets | 0 | 0 | ||
Current liability for pension benefits | (47) | 0 | ||
Non-current liability for pension benefits | (842) | (227) | ||
Components on the Consolidated Balance Sheet | (889) | (227) | ||
U.K. | ||||
Change in Benefit Obligation | ||||
Benefit obligation, beginning of year | 2,881 | 3,093 | ||
Service cost | 24 | 33 | 41 | |
Interest cost | 114 | 107 | 121 | |
Employee contributions | 1 | 1 | ||
Actuarial losses/(gains) | 852 | (97) | ||
Curtailment loss | 0 | 13 | ||
Settlements | (12) | 0 | ||
Benefits paid | (130) | (102) | ||
Business combinations | 842 | 224 | ||
Transfers in | 0 | 0 | ||
Foreign currency changes | (673) | (176) | ||
Plan amendments | $ (215) | 0 | (215) | |
Benefit obligation, end of year | 3,899 | 2,881 | 3,093 | |
Change in Plan Assets | ||||
Fair value of plan assets, beginning of year | 3,478 | 3,398 | ||
Actual return on plan assets | 782 | 73 | ||
Employer contributions | 106 | 107 | ||
Employee contributions | 1 | 1 | ||
Settlements | (12) | 0 | ||
Benefits paid | (130) | (102) | ||
Business combinations | 906 | 202 | ||
Transfers in | 0 | 0 | ||
Foreign currency adjustment | (771) | (201) | ||
Fair value of plan assets, end of year | 4,360 | 3,478 | 3,398 | |
Funded status at end of year | 461 | 597 | ||
Accumulated Benefit Obligation | 3,899 | 2,881 | ||
Pension benefits assets | 478 | 617 | ||
Current liability for pension benefits | 0 | |||
Non-current liability for pension benefits | (17) | (20) | ||
Components on the Consolidated Balance Sheet | 461 | 597 | ||
Other | ||||
Change in Benefit Obligation | ||||
Benefit obligation, beginning of year | 184 | 186 | ||
Service cost | 19 | 3 | 3 | |
Interest cost | 18 | 3 | 6 | |
Employee contributions | 0 | 0 | ||
Actuarial losses/(gains) | 61 | (5) | ||
Curtailment loss | 0 | 0 | ||
Settlements | (61) | (1) | ||
Benefits paid | (24) | (7) | ||
Business combinations | 530 | 24 | ||
Transfers in | 1 | 0 | ||
Foreign currency changes | 4 | (19) | ||
Plan amendments | 0 | 0 | ||
Benefit obligation, end of year | 732 | 184 | 186 | |
Change in Plan Assets | ||||
Fair value of plan assets, beginning of year | 158 | 171 | ||
Actual return on plan assets | 26 | 4 | ||
Employer contributions | 39 | 10 | ||
Employee contributions | 0 | 0 | ||
Settlements | (58) | 0 | ||
Benefits paid | (24) | (7) | ||
Business combinations | 321 | 0 | ||
Transfers in | 1 | 0 | ||
Foreign currency adjustment | 4 | (20) | ||
Fair value of plan assets, end of year | 467 | 158 | 171 | |
Funded status at end of year | (265) | (26) | ||
Accumulated Benefit Obligation | 696 | 173 | ||
Pension benefits assets | 10 | 6 | ||
Current liability for pension benefits | (7) | |||
Non-current liability for pension benefits | (268) | (32) | ||
Components on the Consolidated Balance Sheet | (265) | (26) | ||
PRW | ||||
Change in Benefit Obligation | ||||
Benefit obligation, beginning of year | 0 | 0 | ||
Service cost | 1 | 0 | 0 | |
Interest cost | 3 | 0 | 0 | |
Employee contributions | 7 | 0 | ||
Actuarial losses/(gains) | 4 | 0 | ||
Curtailment loss | 0 | 0 | ||
Settlements | 0 | 0 | ||
Benefits paid | (14) | 0 | ||
Business combinations | 112 | 0 | ||
Transfers in | 0 | 0 | ||
Foreign currency changes | 0 | 0 | ||
Plan amendments | 0 | 0 | ||
Benefit obligation, end of year | 113 | 0 | 0 | |
Change in Plan Assets | ||||
Fair value of plan assets, beginning of year | 0 | 0 | ||
Actual return on plan assets | 0 | 0 | ||
Employer contributions | 7 | 0 | ||
Employee contributions | 7 | 0 | ||
Settlements | 0 | 0 | ||
Benefits paid | (14) | 0 | ||
Business combinations | 4 | 0 | ||
Transfers in | 0 | 0 | ||
Foreign currency adjustment | 0 | 0 | ||
Fair value of plan assets, end of year | 4 | 0 | $ 0 | |
Funded status at end of year | (109) | 0 | ||
Accumulated Benefit Obligation | 113 | 0 | ||
Pension benefits assets | 0 | 0 | ||
Current liability for pension benefits | (3) | |||
Non-current liability for pension benefits | (106) | 0 | ||
Components on the Consolidated Balance Sheet | $ (109) | $ 0 |
X | ||||||||||
- Definition For defined benefit pension plans, the actuarial present value of benefits (whether vested or nonvested) attributed by the pension benefit formula to employee service rendered before a specified date and based on employee service and compensation (if applicable) before that date. The accumulated benefit obligation differs from the projected benefit obligation in that it includes no assumption about future compensation levels. For plans with flat-benefit or nonpay-related pension benefit formulas, the accumulated benefit obligation and the projected benefit obligation are the same. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The difference between fair value of plan assets at the end of the period and the fair value at the beginning of the period, adjusted for contributions and payments of benefits during the period, and after adjusting for taxes and other expenses, as applicable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of gain (loss) related to change in benefit obligation resulting from changes in actuarial assumptions, for example, but not limited to, interest, mortality, employee turnover, salary, and temporary deviation from the substantive plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The aggregate net amount recognized in the balance sheet associated with the defined benefit plan(s). Will normally be the same as the Defined Benefit Plan, Funded Status of Plan, Total. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition This represents the entire assets recognized in the balance sheet that are associated with the defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Fair value of assets transferred into (out of) a defined benefit pension plan. No definition available.
|
X | ||||||||||
- Definition 1) For defined benefit pension plans, the benefit obligation is the projected benefit obligation, which is the actuarial present value as of a date of all benefits attributed by the pension benefit formula to employee service rendered prior to that date. 2) For other postretirement defined benefit plans, the benefit obligation is the accumulated postretirement benefit obligation, which is the actuarial present value of benefits attributed to employee service rendered to a particular date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of payments made for which participants are entitled under a pension plan, including pension benefits, death benefits, and benefits due on termination of employment. Also includes payments made under a postretirement benefit plan, including prescription drug benefits, health care benefits, life insurance benefits, and legal, educational and advisory services. This item represents a periodic decrease to the plan obligations and a decrease to plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of increase in the benefit obligation attributed to business combinations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of increase in the plan assets attributed to a business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition Amount of contributions made by the employer to defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of contributions made by plan participants. This item represents a periodic increase to the plan obligation and an increase to plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of decrease that is related to an event that significantly reduces the expected years of future service of present employees or eliminates for a significant number of employees the accrual of defined benefits for some or all of their future services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Fair value of assets that have been segregated and restricted to provide pension or postretirement benefits. Assets include, but are not limited to, stocks, bonds, other investments, earnings from investments, and contributions by the employer and employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of gain (loss) from foreign currency exchange rate changes for benefit obligation for plans of a foreign operation whose functional currency is not the reporting currency. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of increase or decrease in plan assets attributed to foreign currency changes. The effects of foreign currency exchange rate changes that are to be disclosed are those applicable to plans of a foreign operation whose functional currency is not the reporting currency. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The funded status is measured as the difference between the fair value of plan assets and the benefit obligation. Will normally be the same as the net Defined Benefit Plan, Amounts Recognized in Balance Sheet, Total. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The increase in a defined benefit pension plan's projected benefit obligation or a defined benefit postretirement plan's accumulated postretirement benefit obligation due to the passage of time. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of increase or decrease due to a change in the terms of an existing plan or the initiation of a new plan. A plan amendment may increase or decrease benefits, including those attributed to years of service already rendered. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The actuarial present value of benefits attributed by the pension benefit formula to services rendered by employees during the period. The portion of the expected postretirement benefit obligation attributed to employee service during the period. The service cost component is a portion of the benefit obligation and is unaffected by the funded status of the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of decrease that relates to an irrevocable action that relieves the employer (or the plan) of primary responsibility for a benefit obligation and eliminates significant risks related to the obligation and the assets used to effect the settlement. Examples of transactions that constitute a settlement include (a) making lump-sum cash payments to plan participants in exchange for their rights to receive specified benefits and (b) purchasing nonparticipating annuity contracts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of plan assets that relate to an irrevocable action that relieves the employer, or plan, of primary responsibility for a benefit obligation and eliminates risks related to the obligation and the assets used to effect settlement. Includes, but is not limited to, lump-sum cash payments to plan participants in exchange for their rights to receive specified pension benefits and purchasing annuity contracts to cover vested benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition For a classified balance sheet, the amount recognized in balance sheet as a current liability associated with an underfunded defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition This represents the noncurrent liability for underfunded plans recognized in the balance sheet that is associated with the defined benefit pension plans and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Retirement Benefits - Amounts Recognized in Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
---|---|---|
U.S. | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net actuarial loss | $ 603 | $ 378 |
Net prior service gain | 0 | 0 |
Accumulated other comprehensive loss | 603 | 378 |
U.K. | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net actuarial loss | 918 | 790 |
Net prior service gain | (147) | (196) |
Accumulated other comprehensive loss | 771 | 594 |
Other | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net actuarial loss | 80 | 25 |
Net prior service gain | 0 | 0 |
Accumulated other comprehensive loss | 80 | 25 |
PRW | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net actuarial loss | 4 | 0 |
Net prior service gain | 0 | 0 |
Accumulated other comprehensive loss | $ 4 | $ 0 |
X | ||||||||||
- Definition The total of net gain (loss), prior service cost (credit), and transition assets (obligations), as well as minimum pension liability if still remaining, included in accumulated other comprehensive income associated with a defined benefit pension or other postretirement plan(s) because they have yet to be recognized as components of net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition After tax net amount of gain (loss) that are not yet recognized as a component of net periodic benefit cost, and that are recognized as increases (decreases) in other comprehensive income as they arise. No definition available.
|
X | ||||||||||
- Definition Amount after tax of cost (credit) due to benefit changes attributable to plan participants' prior service pursuant to a plan amendment or a plan initiation, which has not yet been recognized as a component of net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Retirement Benefits - Benefit Obligation In Excess Of Plan Assets (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
---|---|---|
U.S. | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligation at end of year | $ 4,169 | $ 976 |
Fair value of plan assets | 3,280 | 749 |
U.K. | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligation at end of year | 843 | 204 |
Fair value of plan assets | 825 | 184 |
Other | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligation at end of year | 686 | 52 |
Fair value of plan assets | $ 411 | $ 19 |
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition If aggregate disclosures are presented, the aggregate benefit obligation for plans with benefit obligations in excess of plan assets as of the measurement date of each statement of financial position presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition If aggregate disclosures are presented, the aggregate fair value of plan assets for plans with benefit obligations in excess of plan assets as of the measurement date of each statement of financial position presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Retirement Benefits - Accumulated Benefit Obligation In Excess of Plan Assets (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
---|---|---|
U.S. | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligation at end of year | $ 4,169 | $ 976 |
Accumulated benefit obligation at end of year | 4,169 | 975 |
Fair value of plan assets | 3,280 | 749 |
U.K. | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligation at end of year | 843 | 204 |
Accumulated benefit obligation at end of year | 843 | 204 |
Fair value of plan assets | 825 | 184 |
Other | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligation at end of year | 686 | 33 |
Accumulated benefit obligation at end of year | 650 | 26 |
Fair value of plan assets | $ 411 | $ 4 |
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition If aggregate disclosures are presented, the aggregate pension accumulated benefit obligation for pension plans with accumulated benefit obligations in excess of plan assets as of the measurement date of each statement of financial position presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition If aggregate disclosures are presented, the aggregate fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets as of the measurement date of each statement of financial position presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition If aggregate disclosures are presented, the aggregate projected benefit obligation for pension plans with accumulated benefit obligations in excess of plan assets as of the measurement date of each statement of financial position presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Retirement Benefits - Net Periodic Benefit Cost (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | $ 59 | $ 0 | $ 0 |
Interest cost | 137 | 41 | 41 |
Expected return on plan assets | (240) | (57) | (54) |
Amortization of unrecognized prior service credit | 0 | 0 | 0 |
Amortization of net loss/(gain) | 12 | 11 | 6 |
Settlement | 0 | 0 | 0 |
Curtailment gain | 0 | 0 | 0 |
Net periodic benefit (income)/cost | (32) | (5) | (7) |
Net actuarial loss/(gain) | 238 | (16) | 174 |
Amortization of unrecognized actuarial loss | (12) | (11) | (6) |
Prior service gain | 0 | 0 | 0 |
Amortization of unrecognized prior service credit | 0 | 0 | 0 |
Settlement | 0 | 0 | 0 |
Curtailment loss/(gain) | 0 | 0 | 0 |
Total recognized in other comprehensive loss/(income) | 226 | (27) | 168 |
Total recognized in net periodic benefit (income)/cost and other comprehensive loss/(income) | 194 | (32) | 161 |
U.K. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 24 | 33 | 41 |
Interest cost | 114 | 107 | 121 |
Expected return on plan assets | (253) | (230) | (213) |
Amortization of unrecognized prior service credit | (19) | (18) | (4) |
Amortization of net loss/(gain) | 42 | 36 | 42 |
Settlement | 0 | 0 | 0 |
Curtailment gain | 0 | (5) | 0 |
Net periodic benefit (income)/cost | (92) | (77) | (13) |
Net actuarial loss/(gain) | 323 | 59 | 83 |
Amortization of unrecognized actuarial loss | (42) | (36) | (42) |
Prior service gain | 0 | (215) | 0 |
Amortization of unrecognized prior service credit | 19 | 18 | 4 |
Settlement | 0 | 0 | 0 |
Curtailment loss/(gain) | 0 | 18 | (2) |
Total recognized in other comprehensive loss/(income) | 300 | (156) | 43 |
Total recognized in net periodic benefit (income)/cost and other comprehensive loss/(income) | 208 | (233) | 30 |
Other | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 19 | 3 | 3 |
Interest cost | 18 | 3 | 6 |
Expected return on plan assets | (27) | (3) | (6) |
Amortization of unrecognized prior service credit | 0 | 0 | 0 |
Amortization of net loss/(gain) | 0 | 1 | 0 |
Settlement | 5 | 0 | 0 |
Curtailment gain | 0 | 0 | 0 |
Net periodic benefit (income)/cost | 15 | 4 | 3 |
Net actuarial loss/(gain) | 62 | (5) | 17 |
Amortization of unrecognized actuarial loss | 0 | (1) | 0 |
Prior service gain | 0 | 0 | 0 |
Amortization of unrecognized prior service credit | 0 | 0 | 0 |
Settlement | (8) | 0 | 0 |
Curtailment loss/(gain) | 0 | 0 | 0 |
Total recognized in other comprehensive loss/(income) | 54 | (6) | 17 |
Total recognized in net periodic benefit (income)/cost and other comprehensive loss/(income) | 69 | (2) | 20 |
PRW | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 1 | 0 | 0 |
Interest cost | 3 | 0 | 0 |
Expected return on plan assets | 0 | 0 | 0 |
Amortization of unrecognized prior service credit | 0 | 0 | 0 |
Amortization of net loss/(gain) | 0 | 0 | 0 |
Settlement | 0 | 0 | 0 |
Curtailment gain | 0 | 0 | 0 |
Net periodic benefit (income)/cost | 4 | 0 | 0 |
Net actuarial loss/(gain) | 4 | 0 | 0 |
Amortization of unrecognized actuarial loss | 0 | 0 | 0 |
Prior service gain | 0 | 0 | 0 |
Amortization of unrecognized prior service credit | 0 | 0 | 0 |
Settlement | 0 | 0 | 0 |
Curtailment loss/(gain) | 0 | 0 | 0 |
Total recognized in other comprehensive loss/(income) | 4 | 0 | 0 |
Total recognized in net periodic benefit (income)/cost and other comprehensive loss/(income) | $ 8 | $ 0 | $ 0 |
X | ||||||||||
- Definition The amount of gains or losses recognized in net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of the prior service cost or credit recognized in net periodic benefit cost relating to benefit changes attributable to plan participants' prior service pursuant to a plan amendment or a plan initiation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition An amount calculated as a basis for determining the extent of delayed recognition of the effects of changes in the fair value of assets. The expected return on plan assets is determined based on the expected long-term rate of return on plan assets and the market-related value of plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The increase in a defined benefit pension plan's projected benefit obligation or a defined benefit postretirement plan's accumulated postretirement benefit obligation due to the passage of time. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The total amount of net periodic benefit cost for defined benefit plans for the period. Periodic benefit costs include the following components: service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) due to settlements or curtailments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of net gain (loss) recognized in net periodic benefit cost as a result of an event that significantly reduces the expected years of future service of present employees or eliminates for a significant number of employees the accrual of defined benefits for some or all of their future services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of net gain (loss) recognized in net periodic benefit cost as a result of an irrevocable action that relieves the employer (or the plan) of primary responsibility for a benefit obligation and eliminates significant risks related to the obligation and the assets used to effect the settlement. Examples of transactions that constitute a settlement include, but are not limited to, lump-sum cash payments to plan participants in exchange for their rights to receive specified benefits and purchasing nonparticipating annuity contracts to cover vested benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The actuarial present value of benefits attributed by the pension benefit formula to services rendered by employees during the period. The portion of the expected postretirement benefit obligation attributed to employee service during the period. The service cost component is a portion of the benefit obligation and is unaffected by the funded status of the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before tax of cost (credit) of benefit changes attributable to plan participants' prior service resulting from a plan amendment or plan initiation that has not been recognized in net periodic benefit cost (credit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of tax expense (benefit) related to gain (loss) adjustment to other comprehensive income (loss) resulting from settlement or curtailment of pension and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before tax of reclassification adjustment from accumulated other comprehensive (income) loss for prior service cost (credit) related to pension and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before tax of gain (loss) adjustment to other comprehensive income (loss) resulting from settlement or curtailment of defined benefit pension and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before tax, after reclassification adjustments, of (increase) decrease in accumulated other comprehensive (income) loss related to pension and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before tax of (increase) decrease in the value of the projected benefit obligation related to a change in an actuarial assumption and increase (decrease) in the value of the plan assets resulting from experience different from that assumed, that has not been recognized in net periodic benefit (cost) credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before tax of reclassification adjustment from accumulated other comprehensive income (loss) for actuarial gain (loss) related to pension and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Costs Recognized in Net Periodic Benefit Cost and Other Comprehensive Income No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
|
Retirement Benefits - Amounts in AOCI to be Recognized Next Fiscal Year (Details) $ in Millions |
12 Months Ended |
---|---|
Dec. 31, 2016
USD ($)
| |
U.S. | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated net actuarial loss | $ 13 |
Prior service gain | 0 |
U.K. | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated net actuarial loss | 51 |
Prior service gain | (17) |
Other | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated net actuarial loss | 2 |
Prior service gain | 0 |
PRW | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated net actuarial loss | 0 |
Prior service gain | $ 0 |
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Amount included in accumulated other comprehensive income (AOCI) related to gain (loss) expected to be recognized as components of net periodic benefit cost for the fiscal year that follows the most recent annual statement of financial position. No definition available.
|
X | ||||||||||
- Definition Amount included in accumulated other comprehensive income (AOCI) related to prior service cost (credit) expected to be recognized as components of net periodic benefit cost for the fiscal year that follows the most recent annual statement of financial position. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Retirement Benefits - Assumptions Used (Details) |
12 Months Ended | ||||
---|---|---|---|---|---|
Mar. 06, 2015 |
Mar. 05, 2015 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
U.S. | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Discount rate | 3.90% | 4.80% | |||
Discount rate - PBO | 4.20% | ||||
Discount rate - service cost | 3.90% | ||||
Discount rate - interest cost on service cost | 3.20% | ||||
Discount rate - interest cost on PBO | 3.40% | ||||
Expected long-term rate of return on assets | 7.60% | 7.30% | 7.30% | ||
Rate of increase in compensation levels | 4.30% | ||||
Discount rate | 4.00% | 4.20% | |||
Rate of increase in compensation levels | 4.30% | ||||
U.K. | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Discount rate | 3.60% | 4.40% | |||
Discount rate - PBO | 3.80% | ||||
Discount rate - service cost | 3.80% | ||||
Discount rate - interest cost on service cost | 3.80% | ||||
Discount rate - interest cost on PBO | 3.40% | ||||
Expected long-term rate of return on assets | 6.50% | 7.00% | 6.20% | 6.50% | 7.00% |
Rate of increase in compensation levels | 3.20% | 2.90% | 3.20% | ||
Discount rate | 2.60% | 3.80% | |||
Rate of increase in compensation levels | 3.20% | 3.30% | |||
U.K. | Change in Assumptions for Pension Plans | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Expected long-term rate of return on assets | 5000.00% | ||||
Other | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Discount rate | 2.30% | 3.70% | |||
Discount rate - PBO | 3.20% | ||||
Discount rate - service cost | 3.40% | ||||
Discount rate - interest cost on service cost | 3.10% | ||||
Discount rate - interest cost on PBO | 2.80% | ||||
Expected long-term rate of return on assets | 6.10% | 3.30% | 3.70% | ||
Rate of increase in compensation levels | 2.30% | 2.20% | 2.10% | ||
Discount rate | 2.70% | 2.40% | |||
Rate of increase in compensation levels | 2.30% | 2.20% | |||
PRW | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Discount rate - PBO | 4.20% | ||||
Discount rate - service cost | 4.10% | ||||
Discount rate - interest cost on service cost | 3.50% | ||||
Discount rate - interest cost on PBO | 3.30% | ||||
Expected long-term rate of return on assets | 2.00% | ||||
Health care cost trend - Initial rate | 7.00% | ||||
Health care cost trend - Ultimate rate | 5.00% | ||||
Discount rate | 4.00% | 0.00% | |||
Rate of increase in compensation levels | 0.00% |
X | ||||||||||
- Definition The interest rate used to adjust for the time value of money for the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Expected rate of compensation increases (for pay-related plans). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The interest rate used to adjust for the time value of money. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition An assumption as to the rate of return on plan assets reflecting the average rate of earnings expected on the funds invested or to be invested to provide for the benefits included in the benefit obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Expected rate of compensation increases (for pay-related plans). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition The assumed health care cost trend rate for the next year used to measure the expected cost of benefits covered by the plan (gross eligible charges). This is based upon the annual rate of change in the cost of health care benefits currently provided by the postretirement benefit plan, due to factors other than changes in the composition of the plan population by age and dependency status. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The ultimate trend rate for health care costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate, Interest Cost On Projected Benefit Obligation No definition available.
|
X | ||||||||||
- Definition Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate, Interest Cost On Service Cost No definition available.
|
X | ||||||||||
- Definition Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate, Projected Benefit Obligation No definition available.
|
X | ||||||||||
- Definition Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate, Service Cost No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Retirement Benefits - Allocation of Plan Assets (Details) |
12 Months Ended |
---|---|
Dec. 31, 2016 | |
Willis | U.S. | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 100.00% |
Willis | U.S. | Equity securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 50.00% |
Willis | U.S. | Debt securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 50.00% |
Willis | U.S. | Real estate | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 0.00% |
Willis | U.S. | Other | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 0.00% |
Willis | U.K. | U.K. | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 100.00% |
Willis | U.K. | U.K. | Equity securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 32.00% |
Willis | U.K. | U.K. | Debt securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 50.00% |
Willis | U.K. | U.K. | Real estate | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 0.00% |
Willis | U.K. | U.K. | Other | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 18.00% |
Willis | Ireland | U.K. | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 100.00% |
Willis | Ireland | U.K. | Equity securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 38.00% |
Willis | Ireland | U.K. | Debt securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 28.00% |
Willis | Ireland | U.K. | Real estate | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 3.00% |
Willis | Ireland | U.K. | Other | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 31.00% |
Towers Watson | U.S. | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 100.00% |
Towers Watson | U.S. | Equity securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 23.00% |
Towers Watson | U.S. | Debt securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 43.00% |
Towers Watson | U.S. | Real estate | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 6.00% |
Towers Watson | U.S. | Other | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 28.00% |
Towers Watson | U.K. | U.K. | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 100.00% |
Towers Watson | U.K. | U.K. | Equity securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 13.00% |
Towers Watson | U.K. | U.K. | Debt securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 60.00% |
Towers Watson | U.K. | U.K. | Real estate | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 0.00% |
Towers Watson | U.K. | U.K. | Other | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 27.00% |
Towers Watson | Canada | U.K. | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 100.00% |
Towers Watson | Canada | U.K. | Equity securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 60.00% |
Towers Watson | Canada | U.K. | Debt securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 40.00% |
Towers Watson | Canada | U.K. | Real estate | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 0.00% |
Towers Watson | Canada | U.K. | Other | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 0.00% |
Towers Watson | Germany | U.K. | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 100.00% |
Towers Watson | Germany | U.K. | Equity securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 36.00% |
Towers Watson | Germany | U.K. | Debt securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 60.00% |
Towers Watson | Germany | U.K. | Real estate | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 0.00% |
Towers Watson | Germany | U.K. | Other | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 4.00% |
Towers Watson | Ireland | U.K. | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 100.00% |
Towers Watson | Ireland | U.K. | Equity securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 73.00% |
Towers Watson | Ireland | U.K. | Debt securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 27.00% |
Towers Watson | Ireland | U.K. | Real estate | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 0.00% |
Towers Watson | Ireland | U.K. | Other | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 0.00% |
Miller | U.K. | U.K. | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 100.00% |
Miller | U.K. | U.K. | Equity securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 27.00% |
Miller | U.K. | U.K. | Debt securities | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 57.00% |
Miller | U.K. | U.K. | Real estate | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 0.00% |
Miller | U.K. | U.K. | Other | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension plan asset target allocations | 16.00% |
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Target allocation of investments of this type to total plan assets presented on a weighted average basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Retirement Benefits - Fair Value (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
---|---|---|---|
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 8,109 | $ 4,385 | |
Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 17 | 1 | |
U.S. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3,280 | 749 | $ 806 |
U.S. | Cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3 | 0 | |
U.S. | Cash | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3 | 0 | |
U.S. | Cash | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. | Cash | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. | Short-term securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 33 | 0 | |
U.S. | Short-term securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. | Short-term securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 33 | 0 | |
U.S. | Short-term securities | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 260 | 93 | |
U.S. | Equity securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 253 | 86 | |
U.S. | Equity securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 8 | 7 | |
U.S. | Equity securities | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | ||
U.S. | Government bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 10 | 0 | |
U.S. | Government bonds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 10 | 0 | |
U.S. | Government bonds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. | Government bonds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. | Corporate bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 170 | 0 | |
U.S. | Corporate bonds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. | Corporate bonds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 169 | 0 | |
U.S. | Corporate bonds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. | Other fixed income | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 19 | 0 | |
U.S. | Other fixed income | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. | Other fixed income | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 19 | 0 | |
U.S. | Other fixed income | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. | Pooled / commingled funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1,665 | 476 | |
U.S. | Pooled / commingled funds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. | Pooled / commingled funds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. | Pooled / commingled funds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. | Mutual funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 183 | 180 | |
U.S. | Mutual funds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 183 | 180 | |
U.S. | Mutual funds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. | Mutual funds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. | Private equity | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 234 | 0 | |
U.S. | Private equity | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. | Private equity | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. | Private equity | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. | Hedge funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 692 | 0 | |
U.S. | Hedge funds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. | Hedge funds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. | Hedge funds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.S. | Investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3,269 | 749 | |
U.S. | Investments | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 449 | 266 | |
U.S. | Investments | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 229 | 7 | |
U.S. | Investments | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.K. | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 4,360 | 3,478 | 3,398 |
U.K. | Derivatives | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan liabilities | 14 | 20 | |
U.K. | Derivatives | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan liabilities | 0 | 0 | |
U.K. | Derivatives | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan liabilities | 14 | 20 | |
U.K. | Derivatives | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan liabilities | 0 | 0 | |
U.K. | Cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 49 | 151 | |
U.K. | Cash | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 49 | 149 | |
U.K. | Cash | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 2 | |
U.K. | Cash | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.K. | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 382 | 754 | |
U.K. | Equity securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 374 | 737 | |
U.K. | Equity securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 8 | 17 | |
U.K. | Equity securities | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.K. | Government bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1,184 | 837 | |
U.K. | Government bonds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1,184 | 836 | |
U.K. | Government bonds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 1 | |
U.K. | Government bonds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.K. | Corporate bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 118 | 138 | |
U.K. | Corporate bonds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.K. | Corporate bonds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 118 | 138 | |
U.K. | Corporate bonds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.K. | Other fixed income | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 216 | 0 | |
U.K. | Other fixed income | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.K. | Other fixed income | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 216 | 0 | |
U.K. | Other fixed income | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.K. | Pooled / commingled funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1,677 | 820 | |
U.K. | Pooled / commingled funds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.K. | Pooled / commingled funds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.K. | Pooled / commingled funds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.K. | Mutual funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 11 | 0 | |
U.K. | Mutual funds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.K. | Mutual funds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.K. | Mutual funds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.K. | Private equity | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 40 | 0 | |
U.K. | Private equity | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.K. | Private equity | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.K. | Private equity | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.K. | Derivatives | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 73 | 195 | |
U.K. | Derivatives | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.K. | Derivatives | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 73 | 195 | |
U.K. | Derivatives | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.K. | Real estate | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 197 | 146 | |
U.K. | Real estate | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.K. | Real estate | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.K. | Real estate | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.K. | Hedge funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 426 | 457 | |
U.K. | Hedge funds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.K. | Hedge funds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.K. | Hedge funds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.K. | Assets | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 4,373 | 3,498 | |
U.K. | Assets | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1,607 | 1,722 | |
U.K. | Assets | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 415 | 353 | |
U.K. | Assets | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
U.K. | Investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 4,359 | 3,478 | |
U.K. | Investments | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1,607 | 1,722 | |
U.K. | Investments | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 401 | 333 | |
U.K. | Investments | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 467 | 158 | $ 171 |
Other | Cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 17 | 0 | |
Other | Cash | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 17 | 0 | |
Other | Cash | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other | Cash | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 1 | |
Other | Equity securities | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 1 | |
Other | Equity securities | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other | Equity securities | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other | Government bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 29 | |
Other | Government bonds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 29 | |
Other | Government bonds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other | Government bonds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other | Corporate bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 4 | |
Other | Corporate bonds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 4 | |
Other | Corporate bonds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other | Corporate bonds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other | Pooled / commingled funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 214 | 0 | |
Other | Pooled / commingled funds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other | Pooled / commingled funds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other | Pooled / commingled funds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other | Mutual funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 224 | 102 | |
Other | Mutual funds | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other | Mutual funds | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other | Mutual funds | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other | Derivatives | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 19 | |
Other | Derivatives | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other | Derivatives | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 19 | |
Other | Derivatives | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other | Insurance contracts | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 17 | 1 | |
Other | Insurance contracts | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other | Insurance contracts | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other | Insurance contracts | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 17 | 1 | |
Other | Real estate | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 2 | |
Other | Real estate | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other | Real estate | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other | Real estate | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 0 | |
Other | Investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 472 | 158 | |
Other | Investments | Level 1 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 17 | 34 | |
Other | Investments | Level 2 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | 19 | |
Other | Investments | Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 17 | $ 1 |
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- Definition Fair value of assets that have been segregated and restricted to provide pension or postretirement benefits. Assets include, but are not limited to, stocks, bonds, other investments, earnings from investments, and contributions by the employer and employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Defined Benefit Plan, Fair Value Of Plan Assets, Liabilities No definition available.
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Retirement Benefits - Fair Value Reconciliation (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
---|---|---|
Compensation and Retirement Disclosure [Abstract] | ||
Net assets held in investments | $ 8,100 | $ 4,385 |
PRW plan assets | 3 | 0 |
Net receivable for investments purchased | 3 | 0 |
Dividend and interest receivable | 3 | 0 |
Fair value of plan assets | $ 8,109 | $ 4,385 |
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- References No definition available.
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- Definition Fair value of assets that have been segregated and restricted to provide pension or postretirement benefits. Assets include, but are not limited to, stocks, bonds, other investments, earnings from investments, and contributions by the employer and employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Defined Benefit Plan, Dividend And Interest Receivable No definition available.
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- Definition Defined Benefit Plan, Net Assets Held In Investments No definition available.
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- Definition Defined Benefit Plan, Net Receivable For Investments Purchased No definition available.
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- Definition Defined Benefit Plan, Postretirement Health Assets No definition available.
|
Retirement Benefits - Significant Unobservable Input Reconciliation (Details) $ in Millions |
12 Months Ended |
---|---|
Dec. 31, 2016
USD ($)
| |
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | |
Fair value of plan assets, beginning of year | $ 4,385 |
Fair value of plan assets, end of year | 8,109 |
Level 3 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | |
Fair value of plan assets, beginning of year | 1 |
Unrealized and realized gains relating to instruments still held at end of year | 16 |
Foreign exchange | 0 |
Fair value of plan assets, end of year | $ 17 |
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- Definition Actual return on plan assets, separately identifying the amount related to assets still held at the reporting date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
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- Definition Fair value of assets that have been segregated and restricted to provide pension or postretirement benefits. Assets include, but are not limited to, stocks, bonds, other investments, earnings from investments, and contributions by the employer and employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of increase or decrease in plan assets attributed to foreign currency changes. The effects of foreign currency exchange rate changes that are to be disclosed are those applicable to plans of a foreign operation whose functional currency is not the reporting currency. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Retirement Benefits - Projected Benefit Obligation (Details) - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
|
U.S. | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Employer contributions | $ 91 | $ 1 |
U.K. | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Employer contributions | 106 | 107 |
Other | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Employer contributions | 39 | 10 |
Qualified Plan | U.S. | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Expected future employer contributions, next fiscal year | 50 | |
Employer contributions | 50 | 0 |
Qualified Plan | U.K. | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Expected future employer contributions, next fiscal year | 60 | |
Employer contributions | 105 | 102 |
Qualified Plan | Other | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Expected future employer contributions, next fiscal year | 13 | |
Employer contributions | $ 29 | $ 6 |
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- Definition Amount of contributions made by the employer to defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year No definition available.
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Retirement Benefits - Expected Benefit Payments (Details) $ in Millions |
Dec. 31, 2016
USD ($)
|
---|---|
Defined Benefit Plan Disclosure [Line Items] | |
2017 | $ 359 |
2018 | 358 |
2019 | 372 |
2020 | 385 |
2021 | 397 |
Years 2022 – 2026 | 2,224 |
Expected future benefit payments, total | 4,095 |
U.S. | |
Defined Benefit Plan Disclosure [Line Items] | |
2017 | 226 |
2018 | 223 |
2019 | 231 |
2020 | 239 |
2021 | 244 |
Years 2022 – 2026 | 1,329 |
Expected future benefit payments, total | 2,492 |
U.K. | |
Defined Benefit Plan Disclosure [Line Items] | |
2017 | 91 |
2018 | 97 |
2019 | 101 |
2020 | 105 |
2021 | 111 |
Years 2022 – 2026 | 649 |
Expected future benefit payments, total | 1,154 |
Other | |
Defined Benefit Plan Disclosure [Line Items] | |
2017 | 27 |
2018 | 22 |
2019 | 24 |
2020 | 25 |
2021 | 26 |
Years 2022 – 2026 | 162 |
Expected future benefit payments, total | 286 |
PRW | |
Defined Benefit Plan Disclosure [Line Items] | |
2017 | 15 |
2018 | 16 |
2019 | 16 |
2020 | 16 |
2021 | 16 |
Years 2022 – 2026 | 84 |
Expected future benefit payments, total | $ 163 |
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Amount of benefits from a defined benefit plan expected to be paid in the five fiscal years after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of benefits from a defined benefit plan expected to be paid in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of benefits from a defined benefit plan expected to be paid in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of benefits from a defined benefit plan expected to be paid in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of benefits from a defined benefit plan expected to be paid in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of benefits from a defined benefit plan expected to be paid in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Defined Benefit Plan, Expected Future Benefit Payments No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Commitments and Contingencies - Operating Lease Commitments (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Commitments and Contingencies Disclosure [Abstract] | |||
Rent expense, exclusive of sublease income | $ 302 | $ 142 | $ 134 |
Sublease income | 17 | $ 17 | $ 13 |
Gross rental commitments due 2017 | 238 | ||
Gross rental commitments due 2018 | 194 | ||
Gross rental commitments due 2019 | 171 | ||
Gross rental commitments due 2020 | 146 | ||
Gross rental commitments due 2021 | 122 | ||
Thereafter | 611 | ||
Gross rental commitments due | 1,482 | ||
Rentals from subleases due 2017 | (16) | ||
Rentals from subleases due 2018 | (16) | ||
Rentals from subleases due 2019 | (14) | ||
Rentals from subleases due 2020 | (14) | ||
Rentals from subleases due 2021 | (11) | ||
Rentals from subleases due Thereafter | (11) | ||
Rentals from subleases due | (82) | ||
Net rental commitments due 2017 | 222 | ||
Net rental commitments due 2018 | 178 | ||
Net rental commitments due 2019 | 157 | ||
Net rental commitments due 2020 | 132 | ||
Net rental commitments due 2021 | 111 | ||
Net rental commitments due Thereafter | 600 | ||
Net rental commitments due | $ 1,400 |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of required minimum rental payments for leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Contractually required future rental payments receivable on noncancelable subleasing arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition This element represents the payments that the lessee is obligated to make or can be required to make in connection with a property under the terms of an agreement classified as an operating lease, excluding contingent rentals and a guarantee by the lessee of the lessor's debt and the lessee's obligation to pay (apart from the rental payments) executory costs such as insurance, maintenance, and taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The total amount of sublease rental income recognized during the period that reduces the entity's rent expense incurred under operating leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Operating Leases Future Minimum Payments Due Future In Year Five Sublease Rentals No definition available.
|
X | ||||||||||
- Definition Operating Leases Future Minimum Payments Due Future In Year Four Sublease Rentals No definition available.
|
X | ||||||||||
- Definition Operating Leases Future Minimum Payments Due Future In Year Three Sublease Rentals No definition available.
|
X | ||||||||||
- Definition Operating Leases Future Minimum Payments Due Future In Year Two Sublease Rentals No definition available.
|
X | ||||||||||
- Definition Operating Leases Future Minimum Payments Due Future Thereafter Sublease Rentals No definition available.
|
X | ||||||||||
- Definition Operating Leases Future Minimum Payments Due In One Year Minimum Sublease Rentals No definition available.
|
X | ||||||||||
- Definition Operating Leases Future Minimum Payments Due Net Sublease Income Current No definition available.
|
X | ||||||||||
- Definition Operating Leases Future Minimum Payments Due Net Sublease Income Due In Five Years No definition available.
|
X | ||||||||||
- Definition Operating Leases Future Minimum Payments Due Net Sublease Income Due In Four Years No definition available.
|
X | ||||||||||
- Definition Operating Leases Future Minimum Payments Due Net Sublease Income Due In Three Years No definition available.
|
X | ||||||||||
- Definition Operating Leases Future Minimum Payments Due Net Sublease Income Due In Two Years No definition available.
|
X | ||||||||||
- Definition Operating Leases Future Minimum Payments Due Net Sublease Income Due Thereafter No definition available.
|
X | ||||||||||
- Definition Operating Leases Future Minimum Payments Due Net Sublease Income Total No definition available.
|
Commitments and Contingencies (Details) € in Millions, £ in Millions |
1 Months Ended | 3 Months Ended | 12 Months Ended | 51 Months Ended | |||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sep. 12, 2016
USD ($)
plaintiff
|
Aug. 05, 2016
USD ($)
plaintiff
|
Jun. 08, 2016
USD ($)
|
Apr. 27, 2016
USD ($)
|
Mar. 31, 2016
USD ($)
|
Jan. 04, 2016
USD ($)
|
Dec. 29, 2015
EUR (€)
|
Dec. 29, 2015
USD ($)
|
Oct. 01, 2015
USD ($)
shares
|
Jul. 21, 2015 |
Jul. 15, 2015 |
May 31, 2015
USD ($)
|
Aug. 01, 2014
USD ($)
|
Oct. 01, 2013
USD ($)
|
Jun. 20, 2013
lawsuit
|
Jun. 11, 2013
lawsuit
|
Jun. 03, 2013
lawsuit
|
Feb. 14, 2013
USD ($)
lawsuit
plaintiff
|
Feb. 08, 2013
USD ($)
plaintiff
|
Mar. 11, 2011
USD ($)
plaintiff
|
Sep. 16, 2010
USD ($)
plaintiff
|
Sep. 14, 2009
USD ($)
plaintiff
|
Aug. 06, 2009
USD ($)
|
Jul. 02, 2009
USD ($)
|
Mar. 23, 2016
complaint
shareholder
shares
|
Dec. 10, 2015
plaintiff
|
May 31, 2011
USD ($)
|
Jul. 31, 2010
USD ($)
|
Dec. 31, 2009
USD ($)
|
Dec. 31, 2015
USD ($)
|
Dec. 31, 2016
USD ($)
complaint
lawsuit
|
Dec. 31, 2015
USD ($)
|
Dec. 31, 2014
USD ($)
|
Oct. 31, 2012
GBP (£)
|
May 09, 2016
complaint
|
Mar. 25, 2014
action
|
Aug. 31, 2008
GBP (£)
|
|
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Deferred consideration and contingent consideration payable | $ 142,000,000 | ||||||||||||||||||||||||||||||||||||
Payments of deferred and contingent consideration related to acquisitions | 67,000,000 | $ 0 | $ 0 | ||||||||||||||||||||||||||||||||||
Amount payable from option | 73,000,000 | ||||||||||||||||||||||||||||||||||||
Provision for litigation losses | $ 50,000,000 | 70,000,000 | $ 0 | ||||||||||||||||||||||||||||||||||
Stanford Financial Group | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Number of complaints filed | lawsuit | 15 | ||||||||||||||||||||||||||||||||||||
de Gadala-Maria, et al. v. Willis Group Holdings Public Limited Company, et al. | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Period to replead dismissed claim | 21 days | ||||||||||||||||||||||||||||||||||||
Miller Insurance Services LLP | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Discounted fair value of contingent consideration liability | $ 26,000,000 | $ 95,000,000 | |||||||||||||||||||||||||||||||||||
Total consideration | $ 401,000,000 | ||||||||||||||||||||||||||||||||||||
Ownership percentage in investee | 85.00% | ||||||||||||||||||||||||||||||||||||
Capital contributions | $ 232,000,000 | ||||||||||||||||||||||||||||||||||||
Towers Watson & Co. | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Total consideration | $ 8,723,000,000 | ||||||||||||||||||||||||||||||||||||
Gras Savoye | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Total consideration | € 544 | $ 592,000,000 | |||||||||||||||||||||||||||||||||||
Ownership percentage in investee | 70.00% | 70.00% | |||||||||||||||||||||||||||||||||||
Capital contributions | $ 582,000,000 | ||||||||||||||||||||||||||||||||||||
Trident V Parallel Fund | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Long-term purchase commitment, amount | $ 25,000,000 | ||||||||||||||||||||||||||||||||||||
Payments to acquire other investments | 23,000,000 | ||||||||||||||||||||||||||||||||||||
Trident V LP | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Long-term purchase commitment, amount | $ 25,000,000 | ||||||||||||||||||||||||||||||||||||
Towers Watson & Co. | Longitude Holdings Limited | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Total consideration | $ 40,000,000 | ||||||||||||||||||||||||||||||||||||
Shares purchased in investee | shares | 48,322 | ||||||||||||||||||||||||||||||||||||
Ownership percentage in investee | 24.20% | ||||||||||||||||||||||||||||||||||||
Capital contributions | 5,000,000 | ||||||||||||||||||||||||||||||||||||
Dowling Capital Partners I | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Long-term purchase commitment, amount | $ 10,000,000 | ||||||||||||||||||||||||||||||||||||
Payments to acquire other investments | 8,000,000 | ||||||||||||||||||||||||||||||||||||
Nashville Property | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Other contractual obligations | $ 59,000,000 | $ 54,000,000 | 59,000,000 | ||||||||||||||||||||||||||||||||||
Pending Litigation | Towers Watson Merger | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Number of complaints filed | complaint | 5 | ||||||||||||||||||||||||||||||||||||
Pending Litigation | Canabal, et al. v. Willis of Colorado, Inc., et al. | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Damages sought (in excess of) | $ 1,000,000,000 | ||||||||||||||||||||||||||||||||||||
Pending Litigation | Rupert, et al. v. Winter, et al. | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Damages sought (in excess of) | $ 300,000,000 | ||||||||||||||||||||||||||||||||||||
Number of plaintiffs | plaintiff | 97 | ||||||||||||||||||||||||||||||||||||
Pending Litigation | Casanova, et al. v. Willis of Colorado, Inc., et al. | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Damages sought (in excess of) | $ 5,000,000 | ||||||||||||||||||||||||||||||||||||
Number of plaintiffs | plaintiff | 7 | ||||||||||||||||||||||||||||||||||||
Pending Litigation | Martin v. Willis of Colorado, Inc., et. al. [Member] | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Damages sought (in excess of) | $ 1,000,000 | $ 100,000 | |||||||||||||||||||||||||||||||||||
Number of plaintiffs | plaintiff | 5 | 1 | |||||||||||||||||||||||||||||||||||
Pending Litigation | Abel, et al. v. Willis of Colorado, Inc., et al | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Damages sought (in excess of) | $ 135,000,000 | ||||||||||||||||||||||||||||||||||||
Number of plaintiffs | plaintiff | 300 | ||||||||||||||||||||||||||||||||||||
Pending Litigation | Rishmague, et ano. v. Winter, et al. | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Damages sought (in excess of) | $ 37,000,000 | ||||||||||||||||||||||||||||||||||||
Number of plaintiffs | plaintiff | 2 | ||||||||||||||||||||||||||||||||||||
Pending Litigation | MacArthur v. Winter, et al. | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Damages sought (in excess of) | $ 4,000,000 | ||||||||||||||||||||||||||||||||||||
Number of plaintiffs | plaintiff | 2 | ||||||||||||||||||||||||||||||||||||
Pending Litigation | Stanford Financial Group, Florida Suits | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Number of complaints filed | lawsuit | 5 | ||||||||||||||||||||||||||||||||||||
Number of cases removed | lawsuit | 5 | ||||||||||||||||||||||||||||||||||||
Number of cases moved to stay | lawsuit | 4 | ||||||||||||||||||||||||||||||||||||
Number of cases transferred | lawsuit | 5 | ||||||||||||||||||||||||||||||||||||
Period that case is stayed | 7 days | ||||||||||||||||||||||||||||||||||||
Pending Litigation | Barbar, et al. v. Willis Group Holdings Public Limited Company, et al. | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Damages sought (in excess of) | $ 30,000,000 | ||||||||||||||||||||||||||||||||||||
Number of plaintiffs | plaintiff | 35 | ||||||||||||||||||||||||||||||||||||
Pending Litigation | de Gadala-Maria, et al. v. Willis Group Holdings Public Limited Company, et al. | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Damages sought (in excess of) | $ 83,500,000 | ||||||||||||||||||||||||||||||||||||
Number of plaintiffs | plaintiff | 64 | ||||||||||||||||||||||||||||||||||||
Pending Litigation | Ranni, et ano. v. Willis Group Holdings Public Limited Company, et al. | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Damages sought (in excess of) | $ 3,000,000 | ||||||||||||||||||||||||||||||||||||
Number of plaintiffs | plaintiff | 2 | ||||||||||||||||||||||||||||||||||||
Pending Litigation | Tisminesky, et al. v. Willis Group Holdings Public Limited Company, et al. | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Damages sought (in excess of) | $ 6,500,000 | ||||||||||||||||||||||||||||||||||||
Number of plaintiffs | plaintiff | 11 | ||||||||||||||||||||||||||||||||||||
Period to replead dismissed claim | 21 days | ||||||||||||||||||||||||||||||||||||
Pending Litigation | Zacarias, et al. v. Willis Group Holdings Public Limited Company, et al. | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Damages sought (in excess of) | $ 12,500,000 | ||||||||||||||||||||||||||||||||||||
Number of plaintiffs | plaintiff | 10 | ||||||||||||||||||||||||||||||||||||
Period to replead dismissed claim | 21 days | ||||||||||||||||||||||||||||||||||||
Pending Litigation | City of Houston | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Increase to actuarial accrued liability alleged by plaintiff | $ 163,000,000 | ||||||||||||||||||||||||||||||||||||
Pending Litigation | Meriter | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Damages sought (in excess of) | $ 190,000,000 | ||||||||||||||||||||||||||||||||||||
Pending Litigation | Towers Watson & Co. | Towers Watson Merger, Demand for Appraisal | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Number of complaints filed | complaint | 3 | ||||||||||||||||||||||||||||||||||||
Number of plaintiffs | 3 | 10 | |||||||||||||||||||||||||||||||||||
Percentage of stock owned by plaintiffs | 2.40% | ||||||||||||||||||||||||||||||||||||
Number of shares owned by plaintiffs | shares | 1,354,338 | ||||||||||||||||||||||||||||||||||||
Number of actions consolidated | complaint | 3 | ||||||||||||||||||||||||||||||||||||
Settled Litigation | Towers Watson Merger | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Damages sought (in excess of) | $ 1,700,000 | ||||||||||||||||||||||||||||||||||||
Settlement amount for (against) the Company | $ (250,000) | ||||||||||||||||||||||||||||||||||||
Settled Litigation | Stanford Financial Group | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Provision for litigation losses | 70,000,000 | ||||||||||||||||||||||||||||||||||||
Settled Litigation | Troice and Janvey Cases | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Settlement amount for (against) the Company | $ (120,000,000) | ||||||||||||||||||||||||||||||||||||
Provision for litigation losses | 50,000,000 | ||||||||||||||||||||||||||||||||||||
Settled Litigation | Troice, et al. v. Willis of Colorado, Inc., et al. | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Damages sought (in excess of) | $ 1,000,000,000 | ||||||||||||||||||||||||||||||||||||
Number of actions consolidated | action | 2 | ||||||||||||||||||||||||||||||||||||
Settled Litigation | Janvey, et al. v. Willis of Colorado, Inc., et al. | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Damages sought (in excess of) | $ 1,000,000,000 | ||||||||||||||||||||||||||||||||||||
Total losses incurred by plaintiff | $ 4,600,000,000 | ||||||||||||||||||||||||||||||||||||
Settled Litigation | Coal Staff Superannuation Scheme Trustees Limited | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Damages sought (in excess of) | £ | £ 47.5 | ||||||||||||||||||||||||||||||||||||
Derivative, notional amount | £ | £ 250.0 | ||||||||||||||||||||||||||||||||||||
Settled Litigation | Meriter | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Damages paid | 82,000,000 | ||||||||||||||||||||||||||||||||||||
Property Lease Guarantee | |||||||||||||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||||||||||||
Operating lease obligation | 676,000,000 | 558,000,000 | 676,000,000 | ||||||||||||||||||||||||||||||||||
Capital lease obligations | $ 10,000,000 | $ 9,000,000 | $ 10,000,000 |
X | ||||||||||
- Definition Percentage of voting equity interests acquired at the acquisition date in the business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of consideration transferred, consisting of acquisition-date fair value of assets transferred by the acquirer, liabilities incurred by the acquirer, and equity interest issued by the acquirer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of liability recognized arising from contingent consideration in a business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal through the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of judgment or settlement awarded to (against) the entity in respect of litigation. No definition available.
|
X | ||||||||||
- Definition The minimum amount the entity agreed to spend under the long-term purchase commitment. No definition available.
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Amount charged against operating income increasing loss contingency liability, after adjustments to reduce previously estimated charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of damages paid to the plaintiff in the legal matter. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The value (monetary amount) of the award the plaintiff seeks in the legal matter. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Reflects the estimated amount of loss from the specified contingency as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The total number of new claims filed pertaining to a loss contingency during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of plaintiffs that have filed claims pertaining to a loss contingency. No definition available.
|
X | ||||||||||
- Definition The cash outflow associated with the acquisition of business during the period. The cash portion only of the acquisition price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of cash outflow to acquire investments classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
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- Definition Amount payable from option. No definition available.
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X | ||||||||||
- Definition Business Acquisition, Shares Acquired No definition available.
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X | ||||||||||
- Definition Business Combination, Deferred and Contingent Consideration No definition available.
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X | ||||||||||
- Definition Loss Contingency, Claims Moved to Stay, Number No definition available.
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X | ||||||||||
- Definition Loss Contingency, Claims Removed, Number No definition available.
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X | ||||||||||
- Definition Loss Contingency, Claims Stayed, Period No definition available.
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X | ||||||||||
- Definition Loss Contingency, Claims Transferred, Number No definition available.
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X | ||||||||||
- Definition Loss Contingency, Derivative, Notional Amount No definition available.
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X | ||||||||||
- Definition Loss Contingency, Dismissed Claim, Period to Replead No definition available.
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X | ||||||||||
- Definition Loss Contingency, Increase to Actuarial Accrued Liability Alleged by Plaintiff No definition available.
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X | ||||||||||
- Definition Loss Contingency, Number of Actions Consolidated No definition available.
|
X | ||||||||||
- Definition Loss Contingency, Number of Shares Owned by Plaintiffs No definition available.
|
X | ||||||||||
- Definition Loss Contingency, Plaintiff's Ownership Percentage No definition available.
|
X | ||||||||||
- Definition Operating lease obligation. No definition available.
|
X | ||||||||||
- Definition Other contractual obligations. No definition available.
|
X | ||||||||||
- Definition The financing cash outflow related to payments for deferred or contingent consideration related to the acquisition of a business No definition available.
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Supplementary Information for Select Balance Sheet Accounts - Accounts Receivable, Net (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Accounts receivable, net | $ 2,080 | $ 1,258 | |
Allowance for Doubtful Accounts | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at beginning of year | 22 | 12 | $ 13 |
Additions charged to costs and expenses | 36 | 5 | 4 |
Charges to other accounts - Acquisitions | 8 | 11 | 0 |
Deductions / Other movements | (27) | (7) | (6) |
Foreign exchange differences | 1 | 1 | 1 |
Balance at end of year | 40 | 22 | $ 12 |
Billed, net of provision for doubtful accounts of $40 million and $22 million | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Accounts receivable, net | 1,789 | 1,051 | |
Allowance for doubtful accounts | 40 | 22 | |
Accrued and unbilled, at estimated net realizable value | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Accounts receivable, net | $ 291 | $ 207 |
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition Total of allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability established to represent expected future costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of increase in the allowances and reserves, which consist of the valuation and qualifying accounts that are either netted against the cost of an asset or that reflect a liability established to represent expected future costs, from charges to costs and expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of increase in the allowances and reserves, which consist of the valuation and qualifying accounts that are either netted against the cost of an asset or that reflect a liability established to represent expected future costs, from charges to accounts other than costs and expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Total of the deductions in a given period to allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability established to represent expected future costs, representing receivables written off as uncollectible and portions of the reserves utilized, respectively. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Valuation Allowances And Reserves, Foreign Exchange Differences No definition available.
|
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Supplementary Information for Select Balance Sheet Accounts - Prepaid and Other Current Assets (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
---|---|---|
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Prepayments and accrued income | $ 131 | $ 86 |
Derivatives and investments | 32 | 29 |
Deferred compensation plan assets | 15 | 20 |
Retention incentives | 7 | 14 |
Corporate income and other taxes | 97 | 66 |
Other current assets | 55 | 40 |
Total prepaid and other current assets | $ 337 | $ 255 |
X | ||||||||||
- Definition Carrying amount due within one year of the balance sheet date (or one operating cycle, if longer) from tax authorities as of the balance sheet date representing refunds of overpayments or recoveries based on agreed-upon resolutions of disputes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of current assets classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Deferred Compensation Plan Assets, Current No definition available.
|
X | ||||||||||
- Definition Derivatives and Investments, Current No definition available.
|
X | ||||||||||
- Definition Prepaid Bonuses, Current No definition available.
|
X | ||||||||||
- Definition Prepaid Expense and Accrued Revenue Receivable, Current No definition available.
|
Supplementary Information for Select Balance Sheet Accounts - Other Non-current Assets (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
---|---|---|
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Prepayments and accrued income | $ 15 | $ 23 |
Deferred compensation plan assets | 111 | 102 |
Deferred tax assets | 50 | 76 |
Accounts receivable, net | 27 | 30 |
Other investments | 30 | 42 |
Other non-current assets | 120 | 25 |
Total other non-current assets | $ 353 | $ 298 |
X | ||||||||||
- Definition Amount due from customers or clients, more than one year from the balance sheet date, for goods or services that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Carrying amount as of the balance sheet date of assets held under deferred compensation agreements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting and classified as noncurrent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of other miscellaneous assets expected to be realized or consumed after one year or normal operating cycle, if longer. No definition available.
|
X | ||||||||||
- Definition Amount of noncurrent assets classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of investments classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Prepaid Expense and Accrued Revenue Receivable, Noncurrent No definition available.
|
Supplementary Information for Select Balance Sheet Accounts - Other Current Liabilities (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
---|---|---|
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Accounts payable | $ 117 | $ 75 |
Income and other taxes payable | 91 | 45 |
Contingent and deferred consideration on acquisition | 53 | 68 |
Payroll related liabilities | 200 | 82 |
Derivatives | 80 | 31 |
Third party commissions | 184 | 177 |
Other current liabilities | 151 | 125 |
Total other current liabilities | $ 876 | $ 603 |
X | ||||||||||
- Definition Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations incurred through that date and payable for sales commissions. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled within one year or normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of liabilities classified as other, due within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Obligations not otherwise itemized or categorized in the footnotes to the financial statements that are due within one year or operating cycle, if longer, from the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations incurred and payable for statutory income, sales, use, payroll, excise, real, property and other taxes. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Business Combination, Contingent Consideration, Liability and Deferred Consideration, Current No definition available.
|
Supplementary Information for Select Balance Sheet Accounts - Provision For Liabilities (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
---|---|---|
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Claims, lawsuits and other proceedings | $ 456 | $ 205 |
Other provisions | 119 | 90 |
Total provision for liabilities | $ 575 | $ 295 |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of expenses incurred but not yet paid classified as other, due after one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Provision For Claims, Lawsuits And Other Proceedings No definition available.
|
X | ||||||||||
- Definition Provision For Liabilities No definition available.
|
Supplementary Information for Select Balance Sheet Accounts - Other Non-current Liabilities (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
---|---|---|
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Incentives from lessors | $ 133 | $ 175 |
Deferred compensation plan liability | 111 | 102 |
Contingent and deferred consideration on acquisitions | 89 | 156 |
Derivatives | 51 | 27 |
Other non-current liabilities | 148 | 73 |
Total other non-current liabilities | $ 532 | $ 533 |
X | ||||||||||
- Definition Aggregate carrying value as of the balance sheet date of the liabilities for all deferred compensation arrangements payable beyond one year (or the operating cycle, if longer). No definition available.
|
X | ||||||||||
- Definition Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled after one year or the normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition This item represents the deferred credit for an incentive or inducement received by a lessee from a lessor, in order to motivate the lessee to enter the lease agreement, which incentive or inducement is to be recognized as a reduction of rental expense over the lease term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of liabilities classified as other, due after one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Obligations not otherwise itemized or categorized in the footnotes to the financial statements that are expected to be paid after one year (or the normal operating cycle, if longer), from the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Business Combination, Contingent Consideration, Liability and Deferred Consideration, Noncurrent No definition available.
|
Other Expense/(Income), Net (Details) $ in Millions |
12 Months Ended | ||||
---|---|---|---|---|---|
Dec. 29, 2015
USD ($)
|
Dec. 31, 2016
USD ($)
$ / VEB
|
Dec. 31, 2015
USD ($)
$ / VEB
|
Dec. 31, 2014
USD ($)
|
Dec. 28, 2015 |
|
Schedule Of Other Expense (Income) [Line Items] | |||||
Gain on disposal of operations | $ (2) | $ (25) | $ (12) | ||
Gain on remeasurement of equity interests | 0 | (59) | 0 | ||
Impact of Venezuelan currency devaluation | 0 | 30 | 14 | ||
Foreign exchange loss/(gain) | 29 | (1) | (8) | ||
Other expense/(income), net | $ 27 | $ (55) | $ (6) | ||
Gras Savoye | |||||
Schedule Of Other Expense (Income) [Line Items] | |||||
Gain on remeasurement of equity interests | $ (59) | ||||
Fair value of equity interest | $ 158 | ||||
Gras Savoye | |||||
Schedule Of Other Expense (Income) [Line Items] | |||||
Ownership percentage | 30.00% | ||||
SIMADI Exchange Rate | |||||
Schedule Of Other Expense (Income) [Line Items] | |||||
Foreign currency exchange rate (USD per VEB) | $ / VEB | 0.0050 | ||||
SICAD I Exchange Rate | |||||
Schedule Of Other Expense (Income) [Line Items] | |||||
Foreign currency exchange rate (USD per VEB) | $ / VEB | 0.0740 | ||||
DICOM Exchange Rate | |||||
Schedule Of Other Expense (Income) [Line Items] | |||||
Foreign currency exchange rate (USD per VEB) | $ / VEB | 0.0015 |
X | ||||||||||
- Definition Fair value at acquisition-date of the equity interest in the acquiree held by the acquirer, immediately before the acquisition date for businesses combined in stages. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
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- Definition In a business combination achieved in stages, this element represents the amount of gain recognized by the entity as a result of remeasuring to fair value the equity interest in the acquiree it held before the business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before tax of gain (loss) recognized on the sale or disposal of a disposal group. Excludes discontinued operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Foreign exchange rate used to translate amounts denominated in functional currency to reporting currency. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before tax of foreign currency transaction realized gain (loss) recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The aggregate unrealized foreign currency loss relating to the revaluation of the Group's net assets denominated in Venezuelan Bolivar Fuertes. No definition available.
|
X | ||||||||||
- Definition [Line Items] for Schedule Of Other Expense (Income) [Table] No definition available.
|
X | ||||||||||
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Accumulated Other Comprehensive Loss - Components of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Other comprehensive income/(loss), before tax | $ (993) | $ 65 | $ (383) |
Other comprehensive income/(loss), tax | 126 | (46) | 4 |
Other comprehensive (loss)/income, net of tax, before noncontrolling interests | (867) | 19 | (379) |
Foreign currency translation | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Other comprehensive income/(loss), before tax | (353) | (133) | (183) |
Other comprehensive income/(loss), tax | 0 | 0 | 0 |
Other comprehensive (loss)/income, net of tax, before noncontrolling interests | (353) | (133) | (183) |
Defined pension and post-retirement benefits | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Other comprehensive income/(loss), before tax | (553) | 233 | (179) |
Other comprehensive income/(loss), tax | 114 | (53) | 0 |
Other comprehensive (loss)/income, net of tax, before noncontrolling interests | (439) | 180 | (179) |
Derivative instruments | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Other comprehensive income/(loss), before tax | (87) | (35) | (21) |
Other comprehensive income/(loss), tax | 12 | 7 | 4 |
Other comprehensive (loss)/income, net of tax, before noncontrolling interests | (75) | (28) | (17) |
AOCI Attributable to Noncontrolling Interest | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Other comprehensive income/(loss), before tax | 20 | 10 | 6 |
Other comprehensive income/(loss), tax | 0 | 0 | 0 |
Other comprehensive (loss)/income, net of tax, before noncontrolling interests | 20 | 10 | 6 |
AOCI Attributable to Parent | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Other comprehensive income/(loss), before tax | (973) | 75 | (377) |
Other comprehensive income/(loss), tax | 126 | (46) | 4 |
Other comprehensive (loss)/income, net of tax, before noncontrolling interests | $ (847) | $ 29 | $ (373) |
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Amount before tax, after reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of tax expense (benefit) allocated to other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Accumulated Other Comprehensive Loss - Rollforward of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balance | $ 2,229 | ||
Other comprehensive (loss)/income before reclassifications | (929) | $ 4 | $ (418) |
Amounts reclassified from accumulated other comprehensive income (net of income tax) | 82 | 25 | 45 |
Other comprehensive income/(loss) before non-controlling interests | (847) | 29 | (373) |
Ending Balance | 10,065 | 2,229 | |
Foreign currency translation | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balance | (314) | (191) | (14) |
Other comprehensive (loss)/income before reclassifications | (336) | (123) | (177) |
Amounts reclassified from accumulated other comprehensive income (net of income tax) | 0 | 0 | 0 |
Other comprehensive income/(loss) before non-controlling interests | (336) | (123) | (177) |
Ending Balance | (650) | (314) | (191) |
Derivative instruments | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balance | (10) | 18 | 35 |
Other comprehensive (loss)/income before reclassifications | (110) | (31) | (25) |
Amounts reclassified from accumulated other comprehensive income (net of income tax) | 38 | 3 | 8 |
Other comprehensive income/(loss) before non-controlling interests | (72) | (28) | (17) |
Ending Balance | (82) | (10) | 18 |
Defined pension and post-retirement benefit costs | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balance | (713) | (893) | (714) |
Other comprehensive (loss)/income before reclassifications | (483) | 158 | (216) |
Amounts reclassified from accumulated other comprehensive income (net of income tax) | 44 | 22 | 37 |
Other comprehensive income/(loss) before non-controlling interests | (439) | 180 | (179) |
Ending Balance | (1,152) | (713) | (893) |
Total | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balance | (1,037) | (1,066) | (693) |
Ending Balance | $ (1,884) | $ (1,037) | $ (1,066) |
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition Amount after tax, before reclassification adjustments, of other comprehensive income (loss), attributable to parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after tax of other comprehensive income (loss) attributable to parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after tax of reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
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X | ||||||||||
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X | ||||||||||
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X | ||||||||||
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|
Share-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation | $ 123 | $ 64 | $ 52 |
Tax benefit from compensation expense | 35 | 15 | 12 |
Cash received from exercise of stock options | 63 | 124 | 134 |
Tax benefit realized from exercise of stock options | 30 | $ 25 | $ 20 |
Restricted Stock Units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Compensation cost not yet recognized | $ 43 | ||
Compensation cost not yet recognized, period for recognition | 1 year | ||
Vested (shares) | 459,838 | 408,032 | 261,530 |
Vested, Weighted Average Grant Date Fair Value (in dollars per share) | $ 120.42 | $ 117.72 | $ 116.97 |
Performance-Based Stock Units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Compensation cost not yet recognized | $ 54 | ||
Compensation cost not yet recognized, period for recognition | 2 years | ||
Vested (shares) | 258,536 | 63,180 | 62,216 |
Vested, Weighted Average Grant Date Fair Value (in dollars per share) | $ 119.75 | $ 117.88 | $ 116.00 |
Time-based stock options | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Options, grants in period, weighted average grant date fair value (in dollars per share) | $ 16.88 | $ 14.77 | $ 14.12 |
Options, exercises in period, intrinsic value | $ 25 | $ 17 | $ 22 |
Compensation cost not yet recognized | $ 4 | ||
Compensation cost not yet recognized, period for recognition | 2 years | ||
Performance-based stock options | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Options, exercises in period, intrinsic value | $ 9 | $ 25 | $ 15 |
Compensation cost not yet recognized | $ 1 | ||
Compensation cost not yet recognized, period for recognition | 1 year | ||
2012 Equity Incentive Plan | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares available for grant | 9,000,000 | ||
Expiration period | 10 years | ||
Towers Watson & Co. 2009 Long Term Incentive Plan | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation | $ 31 | ||
Towers Watson & Co. 2009 Long Term Incentive Plan | Restricted Stock Units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Fair value of the outstanding units | $ 37 | ||
Towers Watson & Co. 2009 Long Term Incentive Plan | Restricted Stock Units (RSU) and Options | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Fair value of the outstanding units | $ 45 |
X | ||||||||||
- Definition Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Aggregate proceeds received by the entity during the annual period from exercises of stock or unit options and conversion of similar instruments granted under equity-based payment arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Unrecognized cost of unvested share-based compensation awards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The total recognized tax benefit related to compensation cost for equity-based payment arrangements recognized in income during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Disclosure of the aggregate tax benefit realized from the exercise of stock options and the conversion of similar instruments during the annual period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition The difference between the maximum number of shares (or other type of equity) authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares (or other type of equity) already issued upon exercise of options or other equity-based awards under the plan; and 2) shares (or other type of equity) reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of accumulated difference between fair value of underlying shares on dates of exercise and exercise price on options exercised (or share units converted) into shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Intrinsic value of equity-based compensation awards outstanding. Excludes stock and unit options. No definition available.
|
X | ||||||||||
- Definition Period from grant date that an equity-based award expires, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Share Price No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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Share-Based Compensation - Assumptions (Details) |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Stock options | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected volatility | 21.00% | 17.40% | 18.70% |
Expected dividends | 1.50% | 2.70% | 2.80% |
Expected life | 3 years | 4 years | 4 years |
Risk-free interest rate | 0.70% | 1.50% | 1.30% |
Restricted Stock Units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected volatility | 20.30% | ||
Expected dividends | 0.00% | ||
Expected life | 2 years 7 months | ||
Risk-free interest rate | 0.80% |
X | ||||||||||
- Definition The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The risk-free interest rate assumption that is used in valuing an option on its own shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Expected term of share-based compensation awards, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Share-Based Compensation - Options Activity (Details) $ / shares in Units, $ in Millions |
12 Months Ended |
---|---|
Dec. 31, 2016
USD ($)
$ / shares
shares
| |
Time-based stock options | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |
Balance as of beginning of period, Outstanding (in shares) | shares | 1,598,000 |
Acquired, Outstanding (in shares) | shares | 72,000 |
Granted, Outstanding (in shares) | shares | 71,000 |
Exercised, Outstanding (in shares) | shares | (459,000) |
Forfeited, Outstanding (in shares) | shares | (49,000) |
Expired, Outstanding (in shares) | shares | (32,000) |
Balance as of end of period, Outstanding (in shares) | shares | 1,201,000 |
Options vested or expected to vest at end of period, Outstanding (in shares) | shares | 1,197,000 |
Options exercisable at end of period, Outstanding (in shares) | shares | 851,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | |
Balance as of beginning of period, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 100.99 |
Granted, Weighted Average Exercise Price (in dollars per share) | $ / shares | 111.88 |
Acquired, Weighted Average Exercise Price (in dollars per share) | $ / shares | 18.26 |
Exercised, Weighted Average Exercise Price (in dollars per share) | $ / shares | 90.65 |
Forfeited, Weighted Average Exercise Price (in dollars per share) | $ / shares | 100.38 |
Expired, Weighted Average Exercise Price (in dollars per share) | $ / shares | 83.40 |
Balance as of end of period, Weighted Average Exercise Price (in dollars per share) | $ / shares | 101.11 |
Options vested or expected to vest at end of period, Weighted Average Exercise Price (in dollars per share) | $ / shares | 101.13 |
Options exercisable at end of period, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 100.46 |
End of period, Weighted Average Remaining Contractual Term | 4 years |
Options vested or expected to vest at end of period, Weighted Average Remaining Contractual Term | 4 years |
Options exercisable at end of period, Weighted Average Remaining Contractual Term | 5 years |
End of period, Aggregate Intrinsic Value | $ | $ 25 |
Options vested or expected to vest at end of period, Aggregate Intrinsic Value | $ | 10 |
Options exercisable at end of period, Aggregate Intrinsic Value | $ | $ 8 |
Performance-based stock options | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |
Balance as of beginning of period, Outstanding (in shares) | shares | 617,000 |
Acquired, Outstanding (in shares) | shares | 520,295 |
Exercised, Outstanding (in shares) | shares | (236,000) |
Forfeited, Outstanding (in shares) | shares | (18,000) |
Balance as of end of period, Outstanding (in shares) | shares | 883,000 |
Options vested or expected to vest at end of period, Outstanding (in shares) | shares | 883,000 |
Options exercisable at end of period, Outstanding (in shares) | shares | 432,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | |
Balance as of beginning of period, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 88.65 |
Acquired, Weighted Average Exercise Price (in dollars per share) | $ / shares | 110.69 |
Exercised, Weighted Average Exercise Price (in dollars per share) | $ / shares | 85.97 |
Forfeited, Weighted Average Exercise Price (in dollars per share) | $ / shares | 109.43 |
Balance as of end of period, Weighted Average Exercise Price (in dollars per share) | $ / shares | 101.95 |
Options vested or expected to vest at end of period, Weighted Average Exercise Price (in dollars per share) | $ / shares | 102.03 |
Options exercisable at end of period, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 92.79 |
End of period, Weighted Average Remaining Contractual Term | 4 years |
Options vested or expected to vest at end of period, Weighted Average Remaining Contractual Term | 4 years |
Options exercisable at end of period, Weighted Average Remaining Contractual Term | 2 years |
End of period, Aggregate Intrinsic Value | $ | $ 19 |
Options vested or expected to vest at end of period, Aggregate Intrinsic Value | $ | 6 |
Options exercisable at end of period, Aggregate Intrinsic Value | $ | $ 1 |
X | ||||||||||
- Definition The number of shares into which fully or partially vested stock options outstanding as of the balance sheet date can be currently converted under the option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of options or other stock instruments for which the right to exercise has lapsed under the terms of the plan agreements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Net number of share options (or share units) granted during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount by which the current fair value of the underlying stock exceeds the exercise price of options outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of options outstanding, including both vested and non-vested options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount by which the current fair value of the underlying stock exceeds the exercise price of fully vested and expected to vest options outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition As of the balance sheet date, the number of shares into which fully vested and expected to vest stock options outstanding can be converted under the option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition As of the balance sheet date, the weighted-average exercise price for outstanding stock options that are fully vested or expected to vest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Weighted average price at which option holders acquired shares when converting their stock options into shares. No definition available.
|
X | ||||||||||
- Definition Weighted average price at which grantees could have acquired the underlying shares with respect to stock options of the plan that expired. No definition available.
|
X | ||||||||||
- Definition Weighted average price at which grantees could have acquired the underlying shares with respect to stock options that were terminated. No definition available.
|
X | ||||||||||
- Definition Weighted average per share amount at which grantees can acquire shares of common stock by exercise of options. No definition available.
|
X | ||||||||||
- Definition Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of vested portions of options outstanding and currently exercisable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Weighted average remaining contractual term for vested portions of options outstanding and currently exercisable or convertible, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Weighted average remaining contractual term for option awards outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Weighted average remaining contractual term for fully vested and expected to vest options outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Share-based Compensation Arrangement by Share-based Payment Award, Options, Acquired in Period No definition available.
|
X | ||||||||||
- Definition Share-based Compensation Arrangements by Share-based Payment Award, Options, Acquired in Period, Weighted Average Exercise Price No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Share-Based Compensation - Nonvested Restricted Stock Units and Performance Based Stock Units Activity (Details) - $ / shares |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Restricted Stock Units | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||
Balance, beginning of year (shares) | 666,000 | ||
Acquired (shares) | 220,000 | ||
Granted (shares) | 44,000 | ||
Vested (shares) | (459,838) | (408,032) | (261,530) |
Forfeited (shares) | (33,000) | ||
Balance, end of year (shares) | 437,000 | 666,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | |||
Balance, beginning of year, Weighted Average Grant Date Fair Value (in dollars per share) | $ 116.58 | ||
Acquired, Weighted Average Grant Date Fair Value (in dollars per share) | 124.98 | ||
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | 121.97 | ||
Vested, Weighted Average Grant Date Fair Value (in dollars per share) | 118.85 | ||
Forfeited, Weighted Average Grant Date Fair Value (in dollars per share) | 116.33 | ||
Balance, end of year, Weighted Average Grant Date Fair Value (in dollars per share) | $ 118.98 | $ 116.58 | |
Performance-Based Stock Units | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |||
Balance, beginning of year (shares) | 662,000 | ||
Acquired (shares) | 235,000 | ||
Granted (shares) | 592,000 | ||
Vested (shares) | (258,536) | (63,180) | (62,216) |
Forfeited (shares) | (30,000) | ||
Balance, end of year (shares) | 1,200,000 | 662,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | |||
Balance, beginning of year, Weighted Average Grant Date Fair Value (in dollars per share) | $ 116.06 | ||
Acquired, Weighted Average Grant Date Fair Value (in dollars per share) | 124.98 | ||
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | 124.66 | ||
Vested, Weighted Average Grant Date Fair Value (in dollars per share) | 118.39 | ||
Forfeited, Weighted Average Grant Date Fair Value (in dollars per share) | 106.61 | ||
Balance, end of year, Weighted Average Grant Date Fair Value (in dollars per share) | $ 121.78 | $ 116.06 |
X | ||||||||||
- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Weighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Acquired in Period No definition available.
|
X | ||||||||||
- Definition Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Acquired in Period, Weighted Average Grant Date Fair Value No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Earnings Per Share - Narrative (Details) - shares shares in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Time-based shares | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Antidilutive securities excluded from computation of earnings per share | 500 | 600 | 900 |
Restricted Stock Units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Antidilutive securities excluded from computation of earnings per share | 0 | 500 | 600 |
Time-based stock options | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock options outstanding (in shares) | 1,201 | 1,598 | |
Performance-based stock options | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock options outstanding (in shares) | 883 | 617 | |
Time-based shares | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted share units outstanding | 400 | 700 | |
Performance-Based Stock Units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted share units outstanding | 1,200 | 662 | |
Restricted Stock Units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted share units outstanding | 437 | 666 |
X | ||||||||||
- Definition Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Number of options outstanding, including both vested and non-vested options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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- Details
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X | ||||||||||
- Details
|
Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
3 Months Ended | 12 Months Ended | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2016 |
Sep. 30, 2016 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
Sep. 30, 2015 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
||||||
Earnings Per Share [Abstract] | ||||||||||||||||
Net income attributable to Willis Towers Watson | $ 142 | $ (32) | $ 72 | $ 238 | $ (24) | $ 117 | $ 70 | $ 210 | $ 420 | $ 373 | $ 362 | |||||
Basic weighted average number of shares outstanding (shares) | 137 | 68 | 67 | |||||||||||||
Dilutive effect of potentially issuable shares (shares) | 1 | 1 | 1 | |||||||||||||
Diluted weighted average number of shares outstanding (shares) | 138 | 69 | 68 | |||||||||||||
Basic earnings per share (usd per share) | $ 1.04 | $ (0.23) | $ 0.52 | $ 1.76 | $ (0.35) | $ 1.72 | $ 1.03 | $ 3.09 | $ 3.07 | [1] | $ 5.49 | [1] | $ 5.40 | [1] | ||
Dilutive effect of potentially issuable shares (usd per share) | (0.03) | (0.08) | (0.08) | |||||||||||||
Diluted earnings per share (usd per share) | $ 1.03 | $ (0.23) | $ 0.51 | $ 1.75 | $ (0.35) | $ 1.70 | $ 1.01 | $ 3.04 | $ 3.04 | [1] | $ 5.41 | [1] | $ 5.32 | [1] | ||
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The sum of dilutive potential common shares or units used in the calculation of the diluted per-share or per-unit computation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Dilutive Securities, Effect on Basic Earnings Per Share, Per Share No definition available.
|
Supplemental Disclosures of Cash Flow Information (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Supplemental disclosures of cash flow information: | |||
Cash payments for income taxes, net | $ 158 | $ 91 | $ 88 |
Cash payments for interest | 143 | 126 | 123 |
Cash acquired | 476 | 148 | 57 |
Supplemental disclosures of non-cash investing and financing activities: | |||
Issuance of shares and assumed awards in connection with the Merger | 8,723 | 0 | 0 |
Fair value of deferred and contingent consideration related to acquisitions | $ 0 | $ 204 | $ 12 |
X | ||||||||||
- Definition The cash inflow associated with the acquisition of business during the period (for example, cash that was held by the acquired business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income, net of any cash received during the current period as refunds for the overpayment of taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of cash paid for interest during the period net of cash paid for interest that is capitalized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Issuance Of Shares And Awards Assumed, Merger No definition available.
|
X | ||||||||||
- Definition Noncash Or Part Noncash Acquisition, Fair Value Of Deferred And Contingent Consideration No definition available.
|
Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions |
3 Months Ended | 12 Months Ended | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2016 |
Sep. 30, 2016 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
Sep. 30, 2015 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
||||||
Quarterly Financial Data [Abstract] | ||||||||||||||||
Total revenues | $ 1,927 | $ 1,777 | $ 1,949 | $ 2,234 | $ 974 | $ 846 | $ 922 | $ 1,087 | $ 7,887 | $ 3,829 | $ 3,802 | |||||
Total costs of providing services | 1,839 | 1,776 | 1,813 | 1,908 | 972 | 819 | 817 | 794 | 7,336 | 3,402 | 3,155 | |||||
Income from operations | 88 | 1 | 136 | 326 | 2 | 27 | 105 | 293 | 551 | 427 | 647 | |||||
NET INCOME | 148 | (31) | 76 | 245 | (18) | 116 | 72 | 214 | 438 | 384 | 373 | |||||
Net income/(loss) attributable to Willis Towers Watson | $ 142 | $ (32) | $ 72 | $ 238 | $ (24) | $ 117 | $ 70 | $ 210 | $ 420 | $ 373 | $ 362 | |||||
Earnings/(loss) per share | ||||||||||||||||
— Basic (in dollars per share) | $ 1.04 | $ (0.23) | $ 0.52 | $ 1.76 | $ (0.35) | $ 1.72 | $ 1.03 | $ 3.09 | $ 3.07 | [1] | $ 5.49 | [1] | $ 5.40 | [1] | ||
— Diluted (in dollars per share) | $ 1.03 | $ (0.23) | $ 0.51 | $ 1.75 | $ (0.35) | $ 1.70 | $ 1.01 | $ 3.04 | $ 3.04 | [1] | $ 5.41 | [1] | $ 5.32 | [1] | ||
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
|
X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Quarterly Financial Data (Unaudited) - Error Correction (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | ||
---|---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||
Benefit from income taxes | $ 96 | $ 33 | $ (159) | |
Valuation Allowance of Deferred Tax Assets | ||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||
Benefit from income taxes | $ 103 |
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Financial Information for Parent Guarantor, Other Guarantor Subsidiaries and Non-Guarantor Subsidiaries - Narrative (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Jul. 01, 2015 |
Sep. 29, 2009 |
Mar. 28, 2007 |
---|---|---|---|---|
Debt Instrument [Line Items] | ||||
Long-term debt | $ 4,943 | |||
Senior Notes | ||||
Debt Instrument [Line Items] | ||||
Long-term debt | $ 3,176 | |||
Willis North America | Senior Notes | ||||
Debt Instrument [Line Items] | ||||
Long-term debt | $ 148 | |||
6.200% senior notes due 2017 | Willis North America | Senior Notes | ||||
Debt Instrument [Line Items] | ||||
Long-term debt | $ 394 | |||
7.000% senior notes due 2019 | Willis North America | Senior Notes | ||||
Debt Instrument [Line Items] | ||||
Long-term debt | $ 187 |
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Financial Information for Parent Guarantor, Other Guarantor Subsidiaries and Non-Guarantor Subsidiaries - Statement of Operations (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2016 |
Sep. 30, 2016 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
Sep. 30, 2015 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Revenues | |||||||||||
Commissions and fees | $ 7,778 | $ 3,809 | $ 3,767 | ||||||||
Interest and other income | 109 | 20 | 35 | ||||||||
Total revenues | $ 1,927 | $ 1,777 | $ 1,949 | $ 2,234 | $ 974 | $ 846 | $ 922 | $ 1,087 | 7,887 | 3,829 | 3,802 |
Costs of providing services | |||||||||||
Salaries and benefits | 4,646 | 2,303 | 2,314 | ||||||||
Other operating expenses | 1,551 | 718 | 659 | ||||||||
Depreciation expense | 178 | 95 | 92 | ||||||||
Amortization | (591) | (76) | (54) | ||||||||
Restructuring costs | 193 | 126 | 36 | ||||||||
Integration expenses | (177) | (84) | 0 | ||||||||
Total costs of providing services | 1,839 | 1,776 | 1,813 | 1,908 | 972 | 819 | 817 | 794 | 7,336 | 3,402 | 3,155 |
Income from operations | 88 | 1 | 136 | 326 | 2 | 27 | 105 | 293 | 551 | 427 | 647 |
Income from Group undertakings | 0 | 0 | 0 | ||||||||
Expenses due to Group undertakings | 0 | 0 | 0 | ||||||||
Interest expense | 184 | 142 | 135 | ||||||||
Other (income)/expense, net | 27 | (55) | (6) | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INTEREST IN EARNINGS OF ASSOCIATES | 340 | 340 | 518 | ||||||||
Provision for income taxes | (96) | (33) | 159 | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INTEREST IN EARNINGS OF ASSOCIATES | 436 | 373 | 359 | ||||||||
Interest in (loss)/earnings of associates, net of tax | (2) | (11) | (14) | ||||||||
Equity account for subsidiaries | 0 | 0 | 0 | ||||||||
NET INCOME | 148 | (31) | 76 | 245 | (18) | 116 | 72 | 214 | 438 | 384 | 373 |
Income attributable to noncontrolling interests | (18) | (11) | (11) | ||||||||
NET INCOME ATTRIBUTABLE TO WILLIS TOWERS WATSON | $ 142 | $ (32) | $ 72 | $ 238 | $ (24) | $ 117 | $ 70 | $ 210 | 420 | 373 | 362 |
Consolidating adjustments | Parent Guarantor | |||||||||||
Revenues | |||||||||||
Commissions and fees | 0 | 0 | 0 | ||||||||
Interest and other income | 0 | 0 | 0 | ||||||||
Total revenues | 0 | 0 | 0 | ||||||||
Costs of providing services | |||||||||||
Salaries and benefits | 0 | 0 | 0 | ||||||||
Other operating expenses | 0 | 0 | 0 | ||||||||
Depreciation expense | 0 | 0 | 0 | ||||||||
Amortization | 0 | 0 | 0 | ||||||||
Restructuring costs | 0 | 0 | 0 | ||||||||
Integration expenses | 0 | 0 | |||||||||
Total costs of providing services | 0 | 0 | 0 | ||||||||
Income from operations | 0 | 0 | 0 | ||||||||
Income from Group undertakings | 926 | 571 | 636 | ||||||||
Expenses due to Group undertakings | (926) | (571) | (636) | ||||||||
Interest expense | 0 | 0 | 0 | ||||||||
Other (income)/expense, net | 0 | 0 | (230) | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INTEREST IN EARNINGS OF ASSOCIATES | 0 | 0 | 230 | ||||||||
Provision for income taxes | 0 | 0 | 0 | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INTEREST IN EARNINGS OF ASSOCIATES | 0 | 0 | 230 | ||||||||
Interest in (loss)/earnings of associates, net of tax | 0 | 0 | 0 | ||||||||
Equity account for subsidiaries | (849) | (892) | (1,083) | ||||||||
NET INCOME | (849) | (892) | (853) | ||||||||
Income attributable to noncontrolling interests | 0 | 0 | 0 | ||||||||
NET INCOME ATTRIBUTABLE TO WILLIS TOWERS WATSON | (849) | (892) | (853) | ||||||||
Willis Towers Watson | Reportable Legal Entities | |||||||||||
Revenues | |||||||||||
Commissions and fees | 0 | 0 | 0 | ||||||||
Interest and other income | 0 | 0 | 0 | ||||||||
Total revenues | 0 | 0 | 0 | ||||||||
Costs of providing services | |||||||||||
Salaries and benefits | 2 | 1 | 1 | ||||||||
Other operating expenses | 3 | 8 | 16 | ||||||||
Depreciation expense | 0 | 0 | 0 | ||||||||
Amortization | 0 | 0 | 0 | ||||||||
Restructuring costs | 0 | 0 | 0 | ||||||||
Integration expenses | (1) | (4) | |||||||||
Total costs of providing services | 6 | 13 | 17 | ||||||||
Income from operations | (6) | (13) | (17) | ||||||||
Income from Group undertakings | (3) | 0 | 0 | ||||||||
Expenses due to Group undertakings | 3 | 0 | 0 | ||||||||
Interest expense | 32 | 43 | 43 | ||||||||
Other (income)/expense, net | 0 | 10 | 15 | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INTEREST IN EARNINGS OF ASSOCIATES | (38) | (66) | (75) | ||||||||
Provision for income taxes | 0 | 0 | 0 | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INTEREST IN EARNINGS OF ASSOCIATES | (38) | (66) | (75) | ||||||||
Interest in (loss)/earnings of associates, net of tax | 0 | 0 | 0 | ||||||||
Equity account for subsidiaries | 458 | 439 | 437 | ||||||||
NET INCOME | 420 | 373 | 362 | ||||||||
Income attributable to noncontrolling interests | 0 | 0 | 0 | ||||||||
NET INCOME ATTRIBUTABLE TO WILLIS TOWERS WATSON | 420 | 373 | 362 | ||||||||
The Other Guarantors | Reportable Legal Entities | |||||||||||
Revenues | |||||||||||
Commissions and fees | 0 | 0 | 0 | ||||||||
Interest and other income | 2 | 1 | 0 | ||||||||
Total revenues | 2 | 1 | 0 | ||||||||
Costs of providing services | |||||||||||
Salaries and benefits | 1 | 0 | 0 | ||||||||
Other operating expenses | 112 | 100 | 95 | ||||||||
Depreciation expense | 5 | 6 | 4 | ||||||||
Amortization | 0 | 0 | 0 | ||||||||
Restructuring costs | 29 | 28 | 11 | ||||||||
Integration expenses | (16) | (14) | |||||||||
Total costs of providing services | 163 | 148 | 110 | ||||||||
Income from operations | (161) | (147) | (110) | ||||||||
Income from Group undertakings | (500) | (225) | (221) | ||||||||
Expenses due to Group undertakings | 74 | 31 | 33 | ||||||||
Interest expense | 89 | 39 | 35 | ||||||||
Other (income)/expense, net | (2) | (42) | 220 | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INTEREST IN EARNINGS OF ASSOCIATES | 178 | 50 | (177) | ||||||||
Provision for income taxes | (36) | (29) | (25) | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INTEREST IN EARNINGS OF ASSOCIATES | 214 | 79 | (152) | ||||||||
Interest in (loss)/earnings of associates, net of tax | 0 | (9) | (10) | ||||||||
Equity account for subsidiaries | 234 | 347 | 570 | ||||||||
NET INCOME | 448 | 435 | 428 | ||||||||
Income attributable to noncontrolling interests | 0 | 0 | 0 | ||||||||
NET INCOME ATTRIBUTABLE TO WILLIS TOWERS WATSON | 448 | 435 | 428 | ||||||||
The Issuer | Reportable Legal Entities | |||||||||||
Revenues | |||||||||||
Commissions and fees | 19 | 11 | 8 | ||||||||
Interest and other income | 0 | 0 | 0 | ||||||||
Total revenues | 19 | 11 | 8 | ||||||||
Costs of providing services | |||||||||||
Salaries and benefits | 15 | 77 | 81 | ||||||||
Other operating expenses | 88 | 1 | 38 | ||||||||
Depreciation expense | 14 | 16 | 17 | ||||||||
Amortization | 0 | 0 | 0 | ||||||||
Restructuring costs | 39 | 13 | 3 | ||||||||
Integration expenses | (26) | 0 | |||||||||
Total costs of providing services | 182 | 107 | 139 | ||||||||
Income from operations | (163) | (96) | (131) | ||||||||
Income from Group undertakings | (287) | (236) | (313) | ||||||||
Expenses due to Group undertakings | 178 | 189 | 179 | ||||||||
Interest expense | 39 | 42 | 45 | ||||||||
Other (income)/expense, net | 0 | 0 | 0 | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INTEREST IN EARNINGS OF ASSOCIATES | (93) | (91) | (42) | ||||||||
Provision for income taxes | (86) | (17) | (24) | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INTEREST IN EARNINGS OF ASSOCIATES | (7) | (74) | (18) | ||||||||
Interest in (loss)/earnings of associates, net of tax | 0 | 0 | 0 | ||||||||
Equity account for subsidiaries | 157 | 106 | 76 | ||||||||
NET INCOME | 150 | 32 | 58 | ||||||||
Income attributable to noncontrolling interests | 0 | 0 | 0 | ||||||||
NET INCOME ATTRIBUTABLE TO WILLIS TOWERS WATSON | 150 | 32 | 58 | ||||||||
Other | Reportable Legal Entities | |||||||||||
Revenues | |||||||||||
Commissions and fees | 7,759 | 3,798 | 3,759 | ||||||||
Interest and other income | 107 | 19 | 35 | ||||||||
Total revenues | 7,866 | 3,817 | 3,794 | ||||||||
Costs of providing services | |||||||||||
Salaries and benefits | 4,628 | 2,225 | 2,232 | ||||||||
Other operating expenses | 1,348 | 609 | 510 | ||||||||
Depreciation expense | 159 | 73 | 71 | ||||||||
Amortization | (591) | (76) | (54) | ||||||||
Restructuring costs | 125 | 85 | 22 | ||||||||
Integration expenses | (134) | (66) | |||||||||
Total costs of providing services | 6,985 | 3,134 | 2,889 | ||||||||
Income from operations | 881 | 683 | 905 | ||||||||
Income from Group undertakings | (136) | (110) | (102) | ||||||||
Expenses due to Group undertakings | 671 | 351 | 424 | ||||||||
Interest expense | 24 | 18 | 12 | ||||||||
Other (income)/expense, net | 29 | (23) | (11) | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INTEREST IN EARNINGS OF ASSOCIATES | 293 | 447 | 582 | ||||||||
Provision for income taxes | 26 | 13 | 208 | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INTEREST IN EARNINGS OF ASSOCIATES | 267 | 434 | 374 | ||||||||
Interest in (loss)/earnings of associates, net of tax | (2) | (2) | (4) | ||||||||
Equity account for subsidiaries | 0 | 0 | 0 | ||||||||
NET INCOME | 269 | 436 | 378 | ||||||||
Income attributable to noncontrolling interests | (18) | (11) | (11) | ||||||||
NET INCOME ATTRIBUTABLE TO WILLIS TOWERS WATSON | $ 251 | $ 425 | $ 367 |
X | ||||||||||
- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Costs incurred to effect a business combination which have been expensed during the period. Such costs could include business integration costs, systems integration and conversion costs, and severance and other employee-related costs. No definition available.
|
X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount after tax of income (loss) of subsidiary attributable to the parent entity. No definition available.
|
X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The aggregate amount of expenditures for salaries, wages, profit sharing and incentive compensation, and other employee benefits, including equity-based compensation, and pension and other postretirement benefit expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
|
X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
X | ||||||||||
- Definition The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount, after sales adjustments, returns, allowances, and discounts, of revenue classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Aggregate revenue during the period from services rendered in the normal course of business, after deducting allowances and discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Costs and Expenses, Group Undertakings No definition available.
|
X | ||||||||||
- Definition Income (Loss) from Continuing Operations, Net of Tax, Before Equity Method Investments, Noncontrolling Interest No definition available.
|
X | ||||||||||
- Definition Revenue From Group Undertakings No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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Financial Information for Parent Guarantor, Other Guarantor Subsidiaries and Non-Guarantor Subsidiaries - Comprehensive Income (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Condensed Financial Statements, Captions [Line Items] | |||
Comprehensive (loss)/income before noncontrolling interests | $ (429) | $ 403 | $ (6) |
Comprehensive loss/(income) attributable to noncontrolling interests | 2 | (1) | (5) |
Comprehensive income/(loss) attributable to Willis Towers Watson | (427) | 402 | (11) |
Consolidating adjustments | Parent Guarantor | |||
Condensed Financial Statements, Captions [Line Items] | |||
Comprehensive (loss)/income before noncontrolling interests | 1,194 | (965) | (3) |
Comprehensive loss/(income) attributable to noncontrolling interests | 0 | 0 | 0 |
Comprehensive income/(loss) attributable to Willis Towers Watson | 1,194 | (965) | (3) |
Willis Towers Watson | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
Comprehensive (loss)/income before noncontrolling interests | (427) | 402 | (11) |
Comprehensive loss/(income) attributable to noncontrolling interests | 0 | 0 | 0 |
Comprehensive income/(loss) attributable to Willis Towers Watson | (427) | 402 | (11) |
The Other Guarantors | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
Comprehensive (loss)/income before noncontrolling interests | (380) | 462 | 69 |
Comprehensive loss/(income) attributable to noncontrolling interests | 0 | 0 | 0 |
Comprehensive income/(loss) attributable to Willis Towers Watson | (380) | 462 | 69 |
The Issuer | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
Comprehensive (loss)/income before noncontrolling interests | (266) | 49 | (110) |
Comprehensive loss/(income) attributable to noncontrolling interests | 0 | 0 | 0 |
Comprehensive income/(loss) attributable to Willis Towers Watson | (266) | 49 | (110) |
Other | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
Comprehensive (loss)/income before noncontrolling interests | (550) | 455 | 49 |
Comprehensive loss/(income) attributable to noncontrolling interests | 2 | (1) | (5) |
Comprehensive income/(loss) attributable to Willis Towers Watson | $ (548) | $ 454 | $ 44 |
X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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Financial Information for Parent Guarantor, Other Guarantor Subsidiaries and Non-Guarantor Subsidiaries - Balance Sheet (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
---|---|---|---|---|
ASSETS | ||||
Cash and cash equivalents | $ 870 | $ 532 | $ 635 | $ 796 |
Fiduciary assets | 10,505 | 10,458 | ||
Accounts receivable, net | 2,080 | 1,258 | ||
Prepaid and other current assets | 337 | 255 | ||
Amounts due from group undertakings | 0 | 0 | ||
Total current assets | 13,792 | 12,503 | ||
Investments in subsidiaries | 0 | 0 | ||
Fixed assets, net | 839 | 563 | ||
Goodwill | 10,413 | 3,737 | 2,937 | |
Other intangible assets, net | 4,368 | 1,115 | ||
Pension benefits assets | 488 | 623 | ||
Other non-current assets | 353 | 298 | ||
Non-current amounts due from group undertakings | 0 | 0 | ||
Total non-current assets | 16,461 | 6,336 | ||
TOTAL ASSETS | 30,253 | 18,839 | ||
LIABILITIES AND EQUITY | ||||
Fiduciary liabilities | 10,505 | 10,458 | ||
Deferred revenue and accrued expenses | 1,481 | 752 | ||
Short-term debt and current portion of long-term debt | 508 | 988 | ||
Other current liabilities | 876 | 603 | ||
Amounts due to group undertakings | 0 | 0 | ||
Total current liabilities | 13,370 | 12,801 | ||
Long-term debt | 3,357 | 2,278 | ||
Liability for pension benefits | 1,321 | 279 | ||
Deferred tax liabilities | 864 | 240 | ||
Provision for liabilities | 575 | 295 | ||
Investments in subsidiaries | 0 | |||
Other non-current liabilities | 532 | 533 | ||
Non-current amounts due to group undertakings | 0 | 0 | ||
Total non-current liabilities | 6,649 | 3,625 | ||
TOTAL LIABILITIES | 20,019 | 16,426 | ||
EQUITY | ||||
REDEEMABLE NONCONTROLLING INTEREST | 51 | 53 | ||
Total Willis Towers Watson shareholders’ equity | 10,065 | 2,229 | ||
Noncontrolling interests | 118 | 131 | ||
Total equity | 10,183 | 2,360 | 2,007 | 2,243 |
TOTAL LIABILITIES AND EQUITY | 30,253 | 18,839 | ||
Consolidating adjustments | Parent Guarantor | ||||
ASSETS | ||||
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Fiduciary assets | 0 | 0 | ||
Accounts receivable, net | 0 | 0 | ||
Prepaid and other current assets | (59) | (7) | ||
Amounts due from group undertakings | (12,495) | (7,188) | ||
Total current assets | (12,554) | (7,195) | ||
Investments in subsidiaries | (16,622) | (4,040) | ||
Fixed assets, net | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Other intangible assets, net | (64) | 0 | ||
Pension benefits assets | 0 | 0 | ||
Other non-current assets | (47) | 0 | ||
Non-current amounts due from group undertakings | (5,491) | (1,303) | ||
Total non-current assets | (22,224) | (5,343) | ||
TOTAL ASSETS | (34,778) | (12,538) | ||
LIABILITIES AND EQUITY | ||||
Fiduciary liabilities | 0 | 0 | ||
Deferred revenue and accrued expenses | (49) | 0 | ||
Short-term debt and current portion of long-term debt | 0 | 0 | ||
Other current liabilities | (2) | (7) | ||
Amounts due to group undertakings | (12,495) | (7,188) | ||
Total current liabilities | (12,546) | (7,195) | ||
Long-term debt | 0 | 0 | ||
Liability for pension benefits | 0 | 0 | ||
Deferred tax liabilities | (149) | 0 | ||
Provision for liabilities | 0 | 0 | ||
Investments in subsidiaries | (387) | |||
Other non-current liabilities | (14) | 0 | ||
Non-current amounts due to group undertakings | (5,491) | (1,303) | ||
Total non-current liabilities | (5,654) | (1,690) | ||
TOTAL LIABILITIES | (18,200) | (8,885) | ||
EQUITY | ||||
REDEEMABLE NONCONTROLLING INTEREST | 0 | 0 | ||
Total Willis Towers Watson shareholders’ equity | (16,578) | (3,653) | ||
Noncontrolling interests | 0 | 0 | ||
Total equity | (16,578) | (3,653) | ||
TOTAL LIABILITIES AND EQUITY | (34,778) | (12,538) | ||
Willis Towers Watson | Reportable Legal Entities | ||||
ASSETS | ||||
Cash and cash equivalents | 0 | 3 | 9 | 3 |
Fiduciary assets | 0 | 0 | ||
Accounts receivable, net | 0 | 0 | ||
Prepaid and other current assets | 0 | 1 | ||
Amounts due from group undertakings | 7,229 | 3,423 | ||
Total current assets | 7,229 | 3,427 | ||
Investments in subsidiaries | 3,409 | 0 | ||
Fixed assets, net | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Other intangible assets, net | 0 | 0 | ||
Pension benefits assets | 0 | 0 | ||
Other non-current assets | 0 | 0 | ||
Non-current amounts due from group undertakings | 0 | 0 | ||
Total non-current assets | 3,409 | 0 | ||
TOTAL ASSETS | 10,638 | 3,427 | ||
LIABILITIES AND EQUITY | ||||
Fiduciary liabilities | 0 | 0 | ||
Deferred revenue and accrued expenses | 0 | 1 | ||
Short-term debt and current portion of long-term debt | 0 | 300 | ||
Other current liabilities | 77 | 15 | ||
Amounts due to group undertakings | 0 | 0 | ||
Total current liabilities | 77 | 316 | ||
Long-term debt | 496 | 495 | ||
Liability for pension benefits | 0 | 0 | ||
Deferred tax liabilities | 0 | 0 | ||
Provision for liabilities | 0 | 0 | ||
Investments in subsidiaries | 387 | |||
Other non-current liabilities | 0 | 0 | ||
Non-current amounts due to group undertakings | 0 | 0 | ||
Total non-current liabilities | 496 | 882 | ||
TOTAL LIABILITIES | 573 | 1,198 | ||
EQUITY | ||||
REDEEMABLE NONCONTROLLING INTEREST | 0 | 0 | ||
Total Willis Towers Watson shareholders’ equity | 10,065 | 2,229 | ||
Noncontrolling interests | 0 | 0 | ||
Total equity | 10,065 | 2,229 | ||
TOTAL LIABILITIES AND EQUITY | 10,638 | 3,427 | ||
The Other Guarantors | Reportable Legal Entities | ||||
ASSETS | ||||
Cash and cash equivalents | 0 | 2 | 2 | 3 |
Fiduciary assets | 0 | 0 | ||
Accounts receivable, net | 0 | 0 | ||
Prepaid and other current assets | 49 | 49 | ||
Amounts due from group undertakings | 1,706 | 1,684 | ||
Total current assets | 1,755 | 1,735 | ||
Investments in subsidiaries | 7,733 | 3,208 | ||
Fixed assets, net | 34 | 23 | ||
Goodwill | 0 | 0 | ||
Other intangible assets, net | 64 | 0 | ||
Pension benefits assets | 0 | 0 | ||
Other non-current assets | 10 | 8 | ||
Non-current amounts due from group undertakings | 4,655 | 518 | ||
Total non-current assets | 12,496 | 3,757 | ||
TOTAL ASSETS | 14,251 | 5,492 | ||
LIABILITIES AND EQUITY | ||||
Fiduciary liabilities | 0 | 0 | ||
Deferred revenue and accrued expenses | 15 | 13 | ||
Short-term debt and current portion of long-term debt | 22 | 609 | ||
Other current liabilities | 94 | 38 | ||
Amounts due to group undertakings | 8,323 | 4,141 | ||
Total current liabilities | 8,454 | 4,801 | ||
Long-term debt | 2,506 | 1,203 | ||
Liability for pension benefits | 0 | 0 | ||
Deferred tax liabilities | 0 | 1 | ||
Provision for liabilities | 0 | 0 | ||
Investments in subsidiaries | 0 | |||
Other non-current liabilities | 48 | 21 | ||
Non-current amounts due to group undertakings | 0 | 0 | ||
Total non-current liabilities | 2,554 | 1,225 | ||
TOTAL LIABILITIES | 11,008 | 6,026 | ||
EQUITY | ||||
REDEEMABLE NONCONTROLLING INTEREST | 0 | 0 | ||
Total Willis Towers Watson shareholders’ equity | 3,243 | (534) | ||
Noncontrolling interests | 0 | 0 | ||
Total equity | 3,243 | (534) | ||
TOTAL LIABILITIES AND EQUITY | 14,251 | 5,492 | ||
The Issuer | Reportable Legal Entities | ||||
ASSETS | ||||
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Fiduciary assets | 0 | 0 | ||
Accounts receivable, net | 7 | 7 | ||
Prepaid and other current assets | 23 | 18 | ||
Amounts due from group undertakings | 1,190 | 822 | ||
Total current assets | 1,220 | 847 | ||
Investments in subsidiaries | 5,480 | 832 | ||
Fixed assets, net | 0 | 35 | ||
Goodwill | 0 | 0 | ||
Other intangible assets, net | 0 | 0 | ||
Pension benefits assets | 0 | 0 | ||
Other non-current assets | 80 | 2 | ||
Non-current amounts due from group undertakings | 836 | 785 | ||
Total non-current assets | 6,396 | 1,654 | ||
TOTAL ASSETS | 7,616 | 2,501 | ||
LIABILITIES AND EQUITY | ||||
Fiduciary liabilities | 0 | 0 | ||
Deferred revenue and accrued expenses | 27 | 55 | ||
Short-term debt and current portion of long-term debt | 394 | 0 | ||
Other current liabilities | 23 | 23 | ||
Amounts due to group undertakings | 2,075 | 1,545 | ||
Total current liabilities | 2,519 | 1,623 | ||
Long-term debt | 186 | 580 | ||
Liability for pension benefits | 0 | 0 | ||
Deferred tax liabilities | 0 | 0 | ||
Provision for liabilities | 120 | 0 | ||
Investments in subsidiaries | 0 | |||
Other non-current liabilities | 15 | 15 | ||
Non-current amounts due to group undertakings | 518 | 518 | ||
Total non-current liabilities | 839 | 1,113 | ||
TOTAL LIABILITIES | 3,358 | 2,736 | ||
EQUITY | ||||
REDEEMABLE NONCONTROLLING INTEREST | 0 | 0 | ||
Total Willis Towers Watson shareholders’ equity | 4,258 | (235) | ||
Noncontrolling interests | 0 | 0 | ||
Total equity | 4,258 | (235) | ||
TOTAL LIABILITIES AND EQUITY | 7,616 | 2,501 | ||
Other | Reportable Legal Entities | ||||
ASSETS | ||||
Cash and cash equivalents | 870 | 527 | $ 624 | $ 790 |
Fiduciary assets | 10,505 | 10,458 | ||
Accounts receivable, net | 2,073 | 1,251 | ||
Prepaid and other current assets | 324 | 194 | ||
Amounts due from group undertakings | 2,370 | 1,259 | ||
Total current assets | 16,142 | 13,689 | ||
Investments in subsidiaries | 0 | 0 | ||
Fixed assets, net | 805 | 505 | ||
Goodwill | 10,413 | 3,737 | ||
Other intangible assets, net | 4,368 | 1,115 | ||
Pension benefits assets | 488 | 623 | ||
Other non-current assets | 310 | 288 | ||
Non-current amounts due from group undertakings | 0 | 0 | ||
Total non-current assets | 16,384 | 6,268 | ||
TOTAL ASSETS | 32,526 | 19,957 | ||
LIABILITIES AND EQUITY | ||||
Fiduciary liabilities | 10,505 | 10,458 | ||
Deferred revenue and accrued expenses | 1,488 | 683 | ||
Short-term debt and current portion of long-term debt | 92 | 79 | ||
Other current liabilities | 684 | 534 | ||
Amounts due to group undertakings | 2,097 | 1,502 | ||
Total current liabilities | 14,866 | 13,256 | ||
Long-term debt | 169 | 0 | ||
Liability for pension benefits | 1,321 | 279 | ||
Deferred tax liabilities | 1,013 | 239 | ||
Provision for liabilities | 455 | 295 | ||
Investments in subsidiaries | 0 | |||
Other non-current liabilities | 483 | 497 | ||
Non-current amounts due to group undertakings | 4,973 | 785 | ||
Total non-current liabilities | 8,414 | 2,095 | ||
TOTAL LIABILITIES | 23,280 | 15,351 | ||
EQUITY | ||||
REDEEMABLE NONCONTROLLING INTEREST | 51 | 53 | ||
Total Willis Towers Watson shareholders’ equity | 9,077 | 4,422 | ||
Noncontrolling interests | 118 | 131 | ||
Total equity | 9,195 | 4,553 | ||
TOTAL LIABILITIES AND EQUITY | $ 32,526 | $ 19,957 |
X | ||||||||||
- Definition Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of short-term debt and current maturity of long-term debt and capital lease obligations due within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, with jurisdictional netting and classified as noncurrent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount for overfunded plans recognized in the balance sheet as a noncurrent asset associated with a defined benefit pension plan or other postretirement defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total investments in (A) an entity in which the entity has significant influence, but does not have control, (B) subsidiaries that are not required to be consolidated and are accounted for using the equity and or cost method, and (C) an entity in which the reporting entity shares control of the entity with another party or group. Includes long-term advances receivable from a party that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of obligation due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after unamortized (discount) premium and debt issuance costs of long-term debt classified as noncurrent and excluding amounts to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of noncurrent assets classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of liabilities classified as other, due within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of liabilities classified as other, due after one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition This represents the noncurrent liability for underfunded plans recognized in the balance sheet that is associated with the defined benefit pension plans and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition As of the reporting date, the aggregate carrying amount of all noncontrolling interests which are redeemable by the (parent) entity (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the (parent) entity. This item includes noncontrolling interest holder's ownership (or holders' ownership) regardless of the type of equity interest (common, preferred, other) including all potential organizational (legal) forms of the investee entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Deferred Revenue and Accrued Liabilities, Current No definition available.
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- Definition Due from Group Undertakings, Noncurrent No definition available.
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- Definition Due to Group Undertaking, Noncurrent No definition available.
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- Definition Due to Group Undertakings, Current No definition available.
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- Definition Fiduciary Assets, Current No definition available.
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- Definition Fiduciary Liabilities, Current No definition available.
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- Definition Liability from Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures No definition available.
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Financial Information for Parent Guarantor, Other Guarantor Subsidiaries and Non-Guarantor Subsidiaries - Cash Flows (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Condensed Financial Statements, Captions [Line Items] | |||
NET CASH (USED IN)/FROM OPERATING ACTIVITIES | $ 920 | $ 243 | $ 477 |
CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES | |||
Additions to fixed assets and software for internal use | (218) | (146) | (113) |
Capitalized software costs | (85) | ||
Acquisitions of operations, net of cash acquired | 476 | (857) | (245) |
Net (cash paid)/proceeds from sale of operations | (1) | 44 | 86 |
Other, net | 23 | 16 | (4) |
Proceeds from intercompany investing activities | 0 | 0 | 0 |
Repayments of intercompany investing activities | 0 | 0 | 0 |
Reduction in investment in subsidiaries | 0 | ||
Additional investment in subsidiaries | 0 | 0 | 0 |
Net cash from/(used in) investing activities | 195 | (943) | (276) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Debt issuance costs | (14) | (5) | (3) |
Net (payments)/borrowings on revolving credit facility | (237) | 469 | 0 |
Senior notes issued | 1,606 | 0 | 0 |
Proceeds from issuance of other debt | 404 | 592 | 0 |
Repayments of debt | (1,901) | (166) | (15) |
Repurchase of shares | (396) | (82) | (213) |
Proceeds from issuance of shares and excess tax benefit | 63 | 131 | 139 |
Payments of deferred and contingent consideration related to acquisitions | (67) | 0 | 0 |
Dividends paid | (199) | (277) | (210) |
Acquisitions of and dividends paid to noncontrolling interests | (21) | (21) | (21) |
Proceeds from intercompany financing activities | 0 | 0 | 0 |
Repayments of intercompany financing activities | 0 | 0 | 0 |
Net cash provided by (used in) financing activities | (762) | 641 | (323) |
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | 353 | (59) | (122) |
Effect of exchange rate changes on cash and cash equivalents | (15) | (44) | (39) |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 532 | 635 | 796 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 870 | 532 | 635 |
Consolidating adjustments | Parent Guarantor | |||
Condensed Financial Statements, Captions [Line Items] | |||
NET CASH (USED IN)/FROM OPERATING ACTIVITIES | (206) | (150) | (352) |
CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES | |||
Additions to fixed assets and software for internal use | 94 | 0 | 1 |
Capitalized software costs | 0 | ||
Acquisitions of operations, net of cash acquired | 0 | 0 | 0 |
Net (cash paid)/proceeds from sale of operations | 3 | 0 | 0 |
Other, net | (30) | 0 | (1) |
Proceeds from intercompany investing activities | (193) | (608) | (916) |
Repayments of intercompany investing activities | 8,634 | 1,009 | 230 |
Reduction in investment in subsidiaries | (8,200) | ||
Additional investment in subsidiaries | 8,200 | 598 | 31 |
Net cash from/(used in) investing activities | 8,508 | 999 | (655) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Debt issuance costs | 0 | 0 | 0 |
Net (payments)/borrowings on revolving credit facility | 0 | 0 | 0 |
Senior notes issued | 0 | ||
Proceeds from issuance of other debt | 0 | 0 | 0 |
Repayments of debt | 0 | 0 | 0 |
Repurchase of shares | 0 | 0 | 0 |
Proceeds from issuance of shares and excess tax benefit | 0 | (598) | (31) |
Payments of deferred and contingent consideration related to acquisitions | 0 | ||
Dividends paid | 139 | 150 | 352 |
Acquisitions of and dividends paid to noncontrolling interests | 0 | 0 | 0 |
Proceeds from intercompany financing activities | (8,634) | (1,009) | (230) |
Repayments of intercompany financing activities | 193 | 608 | 916 |
Net cash provided by (used in) financing activities | (8,302) | (849) | 1,007 |
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | 0 | 0 | 0 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | 0 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 0 | 0 | 0 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 0 | 0 | 0 |
Willis Towers Watson | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
NET CASH (USED IN)/FROM OPERATING ACTIVITIES | (20) | (10) | (35) |
CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES | |||
Additions to fixed assets and software for internal use | 0 | 0 | 0 |
Capitalized software costs | 0 | ||
Acquisitions of operations, net of cash acquired | 0 | 0 | 0 |
Net (cash paid)/proceeds from sale of operations | 0 | 0 | 0 |
Other, net | 0 | 0 | 0 |
Proceeds from intercompany investing activities | 0 | 321 | 361 |
Repayments of intercompany investing activities | (3,751) | (82) | 0 |
Reduction in investment in subsidiaries | 4,600 | ||
Additional investment in subsidiaries | 0 | 0 | (31) |
Net cash from/(used in) investing activities | 849 | 239 | 330 |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Debt issuance costs | 0 | 0 | 0 |
Net (payments)/borrowings on revolving credit facility | 0 | 0 | 0 |
Senior notes issued | 0 | ||
Proceeds from issuance of other debt | 0 | 0 | 0 |
Repayments of debt | (300) | 0 | 0 |
Repurchase of shares | (396) | (82) | (213) |
Proceeds from issuance of shares and excess tax benefit | 63 | 124 | 134 |
Payments of deferred and contingent consideration related to acquisitions | 0 | ||
Dividends paid | (199) | (277) | (210) |
Acquisitions of and dividends paid to noncontrolling interests | 0 | 0 | 0 |
Proceeds from intercompany financing activities | 0 | 0 | 0 |
Repayments of intercompany financing activities | 0 | 0 | 0 |
Net cash provided by (used in) financing activities | (832) | (235) | (289) |
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (3) | (6) | 6 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | 0 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 3 | 9 | 3 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 0 | 3 | 9 |
The Other Guarantors | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
NET CASH (USED IN)/FROM OPERATING ACTIVITIES | 128 | 583 | 387 |
CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES | |||
Additions to fixed assets and software for internal use | (79) | (10) | (9) |
Capitalized software costs | 0 | ||
Acquisitions of operations, net of cash acquired | 0 | 0 | 0 |
Net (cash paid)/proceeds from sale of operations | 0 | 0 | 0 |
Other, net | 0 | 0 | 0 |
Proceeds from intercompany investing activities | 163 | 49 | 0 |
Repayments of intercompany investing activities | (4,114) | (746) | (53) |
Reduction in investment in subsidiaries | 3,600 | ||
Additional investment in subsidiaries | (4,600) | (598) | 0 |
Net cash from/(used in) investing activities | (5,030) | (1,305) | (62) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Debt issuance costs | (14) | (5) | 0 |
Net (payments)/borrowings on revolving credit facility | (237) | 469 | 0 |
Senior notes issued | 1,606 | ||
Proceeds from issuance of other debt | 400 | 592 | 0 |
Repayments of debt | (1,037) | (16) | (15) |
Repurchase of shares | 0 | 0 | 0 |
Proceeds from issuance of shares and excess tax benefit | 0 | 0 | 0 |
Payments of deferred and contingent consideration related to acquisitions | 0 | ||
Dividends paid | 0 | 0 | 0 |
Acquisitions of and dividends paid to noncontrolling interests | 0 | 0 | (4) |
Proceeds from intercompany financing activities | 4,204 | 154 | 46 |
Repayments of intercompany financing activities | (22) | (472) | (353) |
Net cash provided by (used in) financing activities | 4,900 | 722 | (326) |
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (2) | 0 | (1) |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | 0 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 2 | 2 | 3 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 0 | 2 | 2 |
The Issuer | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
NET CASH (USED IN)/FROM OPERATING ACTIVITIES | (83) | 43 | 265 |
CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES | |||
Additions to fixed assets and software for internal use | (12) | (8) | (10) |
Capitalized software costs | 0 | ||
Acquisitions of operations, net of cash acquired | 0 | 0 | 0 |
Net (cash paid)/proceeds from sale of operations | 0 | 0 | 0 |
Other, net | 33 | 0 | 1 |
Proceeds from intercompany investing activities | 0 | 87 | 120 |
Repayments of intercompany investing activities | 0 | 0 | (131) |
Reduction in investment in subsidiaries | 0 | ||
Additional investment in subsidiaries | 0 | 0 | 0 |
Net cash from/(used in) investing activities | 21 | 79 | (20) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Debt issuance costs | 0 | 0 | 0 |
Net (payments)/borrowings on revolving credit facility | 0 | 0 | 0 |
Senior notes issued | 0 | ||
Proceeds from issuance of other debt | 0 | 0 | 0 |
Repayments of debt | 0 | (149) | 0 |
Repurchase of shares | 0 | 0 | 0 |
Proceeds from issuance of shares and excess tax benefit | 0 | 0 | 0 |
Payments of deferred and contingent consideration related to acquisitions | 0 | ||
Dividends paid | (49) | 0 | 0 |
Acquisitions of and dividends paid to noncontrolling interests | 0 | 0 | 0 |
Proceeds from intercompany financing activities | 164 | 27 | 4 |
Repayments of intercompany financing activities | (53) | 0 | (249) |
Net cash provided by (used in) financing activities | 62 | (122) | (245) |
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | 0 | 0 | 0 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | 0 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 0 | 0 | 0 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 0 | 0 | 0 |
Other | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
NET CASH (USED IN)/FROM OPERATING ACTIVITIES | 1,101 | (223) | 212 |
CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES | |||
Additions to fixed assets and software for internal use | (221) | (128) | (95) |
Capitalized software costs | (85) | ||
Acquisitions of operations, net of cash acquired | 476 | (857) | (245) |
Net (cash paid)/proceeds from sale of operations | (4) | 44 | 86 |
Other, net | 20 | 16 | (4) |
Proceeds from intercompany investing activities | 30 | 151 | 435 |
Repayments of intercompany investing activities | (769) | (181) | (46) |
Reduction in investment in subsidiaries | 0 | ||
Additional investment in subsidiaries | (3,600) | 0 | 0 |
Net cash from/(used in) investing activities | (4,153) | (955) | 131 |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Debt issuance costs | 0 | 0 | (3) |
Net (payments)/borrowings on revolving credit facility | 0 | 0 | 0 |
Senior notes issued | 0 | ||
Proceeds from issuance of other debt | 4 | 0 | 0 |
Repayments of debt | (564) | (1) | 0 |
Repurchase of shares | 0 | 0 | 0 |
Proceeds from issuance of shares and excess tax benefit | 0 | 605 | 36 |
Payments of deferred and contingent consideration related to acquisitions | (67) | ||
Dividends paid | (90) | (150) | (352) |
Acquisitions of and dividends paid to noncontrolling interests | (21) | (21) | (17) |
Proceeds from intercompany financing activities | 4,266 | 828 | 180 |
Repayments of intercompany financing activities | (118) | (136) | (314) |
Net cash provided by (used in) financing activities | 3,410 | 1,125 | (470) |
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | 358 | (53) | (127) |
Effect of exchange rate changes on cash and cash equivalents | (15) | (44) | (39) |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 527 | 624 | 790 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ 870 | $ 527 | $ 624 |
X | ||||||||||
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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X | ||||||||||
- Definition Amount of increase (decrease) from the effect of exchange rate changes on cash and cash equivalent balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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X | ||||||||||
- Definition Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of cash (inflow) outflow from investing activities classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of cash outflow in the form of ordinary dividends to common shareholders of the parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The cash outflow associated with the development or modification of software programs or applications for internal use (that is, not to be sold, leased or otherwise marketed to others) that qualify for capitalization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The cash inflow associated with the amount received from the sale of a business segment or subsidiary or sale of an entity that is related to it but not strictly controlled during the period (for example, an unconsolidated subsidiary, affiliate, joint venture or equity method investment). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of cash inflow from issuance of long-term debt classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The cash inflow from a borrowing with the highest claim on the assets of the entity in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of cash inflow (outflow) from (to) a noncontrolling interest. Excludes dividends paid to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The net cash inflow or cash outflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with either short term or long term maturity that is collateralized (backed by pledge, mortgage or other lien in the entity's assets). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Decrease in Investment in Subsidiaries No definition available.
|
X | ||||||||||
- Definition Increase in Investment in Subsidiaries No definition available.
|
X | ||||||||||
- Definition The financing cash outflow related to payments for deferred or contingent consideration related to the acquisition of a business No definition available.
|
X | ||||||||||
- Definition Proceeds from Intercompany Financing Activities No definition available.
|
X | ||||||||||
- Definition Proceeds from Intercompany Investing Activities No definition available.
|
X | ||||||||||
- Definition Repayments of Intercompany Financing Activities No definition available.
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X | ||||||||||
- Definition Repayments of Intercompany Investing Activities No definition available.
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X | ||||||||||
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- Details
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X | ||||||||||
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Financial Information for Parent Issuer, Guarantor Subsidiaries and Non-Guarantor Subsidiaries - Narrative (Details) - USD ($) |
Mar. 15, 2016 |
Dec. 31, 2016 |
Mar. 17, 2011 |
Mar. 11, 2011 |
---|---|---|---|---|
Debt Instrument [Line Items] | ||||
Long-term debt | $ 4,943,000,000 | |||
Senior Notes | ||||
Debt Instrument [Line Items] | ||||
Long-term debt | 3,176,000,000 | |||
Senior Notes | 5.750% senior notes due 2021 | ||||
Debt Instrument [Line Items] | ||||
Face amount of note | $ 800,000,000 | $ 500,000,000 | ||
Repayments of debt | $ 300,000,000 | |||
Long-term debt | $ 500,000,000 |
X | ||||||||||
- Definition Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The cash outflow during the period from the repayment of aggregate short-term and long-term debt. Excludes payment of capital lease obligations. No definition available.
|
X | ||||||||||
- Details
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X | ||||||||||
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Financial Information for Parent Issuer, Guarantor Subsidiaries and Non-Guarantor Subsidiaries - Statement of Operations (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2016 |
Sep. 30, 2016 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
Sep. 30, 2015 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Revenues | |||||||||||
Commissions and fees | $ 7,778 | $ 3,809 | $ 3,767 | ||||||||
Interest and other income | 109 | 20 | 35 | ||||||||
Revenues | $ 1,927 | $ 1,777 | $ 1,949 | $ 2,234 | $ 974 | $ 846 | $ 922 | $ 1,087 | 7,887 | 3,829 | 3,802 |
Costs of providing services | |||||||||||
Salaries and benefits | 4,646 | 2,303 | 2,314 | ||||||||
Other operating expenses | 1,551 | 718 | 659 | ||||||||
Depreciation expense | 178 | 95 | 92 | ||||||||
Amortization | (591) | (76) | (54) | ||||||||
Restructuring costs | 193 | 126 | 36 | ||||||||
Integration expenses | (177) | (84) | 0 | ||||||||
Total costs of providing services | 1,839 | 1,776 | 1,813 | 1,908 | 972 | 819 | 817 | 794 | 7,336 | 3,402 | 3,155 |
Income from operations | 88 | 1 | 136 | 326 | 2 | 27 | 105 | 293 | 551 | 427 | 647 |
Income from Group undertakings | 0 | 0 | 0 | ||||||||
Expenses due to Group undertakings | 0 | 0 | 0 | ||||||||
Interest expense | 184 | 142 | 135 | ||||||||
Other (income)/expense, net | 27 | (55) | (6) | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INTEREST IN EARNINGS OF ASSOCIATES | 340 | 340 | 518 | ||||||||
Provision for income taxes | (96) | (33) | 159 | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INTEREST IN EARNINGS OF ASSOCIATES | 436 | 373 | 359 | ||||||||
Interest in (loss)/earnings of associates, net of tax | (2) | (11) | (14) | ||||||||
Equity account for subsidiaries | 0 | 0 | 0 | ||||||||
NET INCOME | 148 | (31) | 76 | 245 | (18) | 116 | 72 | 214 | 438 | 384 | 373 |
Income attributable to noncontrolling interests | (18) | (11) | (11) | ||||||||
NET INCOME ATTRIBUTABLE TO WILLIS TOWERS WATSON | $ 142 | $ (32) | $ 72 | $ 238 | $ (24) | $ 117 | $ 70 | $ 210 | 420 | 373 | 362 |
Consolidating adjustments | Parent Issuer | |||||||||||
Revenues | |||||||||||
Commissions and fees | 0 | 0 | 0 | ||||||||
Interest and other income | 0 | 0 | 0 | ||||||||
Revenues | 0 | 0 | 0 | ||||||||
Costs of providing services | |||||||||||
Salaries and benefits | 0 | 0 | 0 | ||||||||
Other operating expenses | 0 | 0 | 0 | ||||||||
Depreciation expense | 0 | 0 | 0 | ||||||||
Amortization | 0 | 0 | 0 | ||||||||
Restructuring costs | 0 | 0 | 0 | ||||||||
Integration expenses | 0 | 0 | |||||||||
Total costs of providing services | 0 | 0 | 0 | ||||||||
Income from operations | 0 | 0 | 0 | ||||||||
Income from Group undertakings | 811 | 460 | 526 | ||||||||
Expenses due to Group undertakings | (811) | (460) | (526) | ||||||||
Interest expense | 0 | 0 | 0 | ||||||||
Other (income)/expense, net | 0 | 0 | (230) | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INTEREST IN EARNINGS OF ASSOCIATES | 0 | 0 | 230 | ||||||||
Provision for income taxes | 0 | 0 | 0 | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INTEREST IN EARNINGS OF ASSOCIATES | 0 | 0 | 230 | ||||||||
Interest in (loss)/earnings of associates, net of tax | 0 | 0 | 0 | ||||||||
Equity account for subsidiaries | (699) | (860) | (1,025) | ||||||||
NET INCOME | (699) | (860) | (795) | ||||||||
Income attributable to noncontrolling interests | 0 | 0 | 0 | ||||||||
NET INCOME ATTRIBUTABLE TO WILLIS TOWERS WATSON | (699) | (860) | (795) | ||||||||
Willis Towers Watson — the Parent Issuer | Reportable Legal Entities | |||||||||||
Revenues | |||||||||||
Commissions and fees | 0 | 0 | 0 | ||||||||
Interest and other income | 0 | 0 | 0 | ||||||||
Revenues | 0 | 0 | 0 | ||||||||
Costs of providing services | |||||||||||
Salaries and benefits | 2 | 1 | 1 | ||||||||
Other operating expenses | 3 | 8 | 16 | ||||||||
Depreciation expense | 0 | 0 | 0 | ||||||||
Amortization | 0 | 0 | 0 | ||||||||
Restructuring costs | 0 | 0 | 0 | ||||||||
Integration expenses | (1) | (4) | |||||||||
Total costs of providing services | 6 | 13 | 17 | ||||||||
Income from operations | (6) | (13) | (17) | ||||||||
Income from Group undertakings | (3) | 0 | 0 | ||||||||
Expenses due to Group undertakings | 3 | 0 | 0 | ||||||||
Interest expense | 32 | 43 | 43 | ||||||||
Other (income)/expense, net | 0 | 10 | 15 | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INTEREST IN EARNINGS OF ASSOCIATES | (38) | (66) | (75) | ||||||||
Provision for income taxes | 0 | 0 | 0 | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INTEREST IN EARNINGS OF ASSOCIATES | (38) | (66) | (75) | ||||||||
Interest in (loss)/earnings of associates, net of tax | 0 | 0 | 0 | ||||||||
Equity account for subsidiaries | 458 | 439 | 437 | ||||||||
NET INCOME | 420 | 373 | 362 | ||||||||
Income attributable to noncontrolling interests | 0 | 0 | 0 | ||||||||
NET INCOME ATTRIBUTABLE TO WILLIS TOWERS WATSON | 420 | 373 | 362 | ||||||||
The Guarantors | Reportable Legal Entities | |||||||||||
Revenues | |||||||||||
Commissions and fees | 19 | 11 | 8 | ||||||||
Interest and other income | 2 | 1 | 0 | ||||||||
Revenues | 21 | 12 | 8 | ||||||||
Costs of providing services | |||||||||||
Salaries and benefits | 16 | 77 | 81 | ||||||||
Other operating expenses | 200 | 101 | 133 | ||||||||
Depreciation expense | 19 | 22 | 21 | ||||||||
Amortization | 0 | 0 | 0 | ||||||||
Restructuring costs | 68 | 41 | 14 | ||||||||
Integration expenses | (42) | (14) | |||||||||
Total costs of providing services | 345 | 255 | 249 | ||||||||
Income from operations | (324) | (243) | (241) | ||||||||
Income from Group undertakings | (672) | (350) | (424) | ||||||||
Expenses due to Group undertakings | 137 | 109 | 102 | ||||||||
Interest expense | 128 | 81 | 80 | ||||||||
Other (income)/expense, net | (2) | (42) | 220 | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INTEREST IN EARNINGS OF ASSOCIATES | 85 | (41) | (219) | ||||||||
Provision for income taxes | (122) | (46) | (49) | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INTEREST IN EARNINGS OF ASSOCIATES | 207 | 5 | (170) | ||||||||
Interest in (loss)/earnings of associates, net of tax | 0 | (9) | (10) | ||||||||
Equity account for subsidiaries | 241 | 421 | 588 | ||||||||
NET INCOME | 448 | 435 | 428 | ||||||||
Income attributable to noncontrolling interests | 0 | 0 | 0 | ||||||||
NET INCOME ATTRIBUTABLE TO WILLIS TOWERS WATSON | 448 | 435 | 428 | ||||||||
Other | Reportable Legal Entities | |||||||||||
Revenues | |||||||||||
Commissions and fees | 7,759 | 3,798 | 3,759 | ||||||||
Interest and other income | 107 | 19 | 35 | ||||||||
Revenues | 7,866 | 3,817 | 3,794 | ||||||||
Costs of providing services | |||||||||||
Salaries and benefits | 4,628 | 2,225 | 2,232 | ||||||||
Other operating expenses | 1,348 | 609 | 510 | ||||||||
Depreciation expense | 159 | 73 | 71 | ||||||||
Amortization | (591) | (76) | (54) | ||||||||
Restructuring costs | 125 | 85 | 22 | ||||||||
Integration expenses | (134) | (66) | |||||||||
Total costs of providing services | 6,985 | 3,134 | 2,889 | ||||||||
Income from operations | 881 | 683 | 905 | ||||||||
Income from Group undertakings | (136) | (110) | (102) | ||||||||
Expenses due to Group undertakings | 671 | 351 | 424 | ||||||||
Interest expense | 24 | 18 | 12 | ||||||||
Other (income)/expense, net | 29 | (23) | (11) | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INTEREST IN EARNINGS OF ASSOCIATES | 293 | 447 | 582 | ||||||||
Provision for income taxes | 26 | 13 | 208 | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INTEREST IN EARNINGS OF ASSOCIATES | 267 | 434 | 374 | ||||||||
Interest in (loss)/earnings of associates, net of tax | (2) | (2) | (4) | ||||||||
Equity account for subsidiaries | 0 | 0 | 0 | ||||||||
NET INCOME | 269 | 436 | 378 | ||||||||
Income attributable to noncontrolling interests | (18) | (11) | (11) | ||||||||
NET INCOME ATTRIBUTABLE TO WILLIS TOWERS WATSON | $ 251 | $ 425 | $ 367 |
X | ||||||||||
- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Costs incurred to effect a business combination which have been expensed during the period. Such costs could include business integration costs, systems integration and conversion costs, and severance and other employee-related costs. No definition available.
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X | ||||||||||
- References No definition available.
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- Definition The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after tax of income (loss) of subsidiary attributable to the parent entity. No definition available.
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate amount of expenditures for salaries, wages, profit sharing and incentive compensation, and other employee benefits, including equity-based compensation, and pension and other postretirement benefit expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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X | ||||||||||
- Definition The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount, after sales adjustments, returns, allowances, and discounts, of revenue classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Aggregate revenue during the period from services rendered in the normal course of business, after deducting allowances and discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Costs and Expenses, Group Undertakings No definition available.
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X | ||||||||||
- Definition Income (Loss) from Continuing Operations, Net of Tax, Before Equity Method Investments, Noncontrolling Interest No definition available.
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- Definition Revenue From Group Undertakings No definition available.
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- Details
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Financial Information for Parent Issuer, Guarantor Subsidiaries and Non-Guarantor Subsidiaries - Comprehensive Income (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Condensed Financial Statements, Captions [Line Items] | |||
Comprehensive (loss)/income before noncontrolling interests | $ (429) | $ 403 | $ (6) |
Comprehensive loss/(income) attributable to noncontrolling interests | 2 | (1) | (5) |
Comprehensive income/(loss) attributable to Willis Towers Watson | (427) | 402 | (11) |
Consolidating adjustments | Parent Issuer | |||
Condensed Financial Statements, Captions [Line Items] | |||
Comprehensive (loss)/income before noncontrolling interests | 928 | (916) | (113) |
Comprehensive loss/(income) attributable to noncontrolling interests | 0 | 0 | 0 |
Comprehensive income/(loss) attributable to Willis Towers Watson | 928 | (916) | (113) |
Willis Towers Watson — the Parent Issuer | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
Comprehensive (loss)/income before noncontrolling interests | (427) | 402 | (11) |
Comprehensive loss/(income) attributable to noncontrolling interests | 0 | 0 | 0 |
Comprehensive income/(loss) attributable to Willis Towers Watson | (427) | 402 | (11) |
The Guarantors | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
Comprehensive (loss)/income before noncontrolling interests | (380) | 462 | 69 |
Comprehensive loss/(income) attributable to noncontrolling interests | 0 | 0 | 0 |
Comprehensive income/(loss) attributable to Willis Towers Watson | (380) | 462 | 69 |
Other | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
Comprehensive (loss)/income before noncontrolling interests | (550) | 455 | 49 |
Comprehensive loss/(income) attributable to noncontrolling interests | 2 | (1) | (5) |
Comprehensive income/(loss) attributable to Willis Towers Watson | $ (548) | $ 454 | $ 44 |
X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Details
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Financial Information for Parent Issuer, Guarantor Subsidiaries and Non-Guarantor Subsidiaries - Balance Sheet (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
---|---|---|---|---|
Condensed Financial Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 870 | $ 532 | $ 635 | $ 796 |
Fiduciary assets | 10,505 | 10,458 | ||
Accounts receivable, net | 2,080 | 1,258 | ||
Prepaid and other current assets | 337 | 255 | ||
Amounts due from group undertakings | 0 | 0 | ||
Total current assets | 13,792 | 12,503 | ||
Investments in subsidiaries | 0 | 0 | ||
Fixed assets, net | 839 | 563 | ||
Goodwill | 10,413 | 3,737 | 2,937 | |
Other intangible assets, net | 4,368 | 1,115 | ||
Pension benefits assets | 488 | 623 | ||
Other non-current assets | 353 | 298 | ||
Non-current amounts due from group undertakings | 0 | 0 | ||
Total non-current assets | 16,461 | 6,336 | ||
TOTAL ASSETS | 30,253 | 18,839 | ||
Fiduciary liabilities | 10,505 | 10,458 | ||
Deferred revenue and accrued expenses | 1,481 | 752 | ||
Short-term debt and current portion of long-term debt | 508 | 988 | ||
Other current liabilities | 876 | 603 | ||
Amounts due to group undertakings | 0 | 0 | ||
Total current liabilities | 13,370 | 12,801 | ||
Investments in subsidiaries | 0 | |||
Long-term debt | 3,357 | 2,278 | ||
Liability for pension benefits | 1,321 | 279 | ||
Deferred tax liabilities | 864 | 240 | ||
Provision for liabilities | 575 | 295 | ||
Other non-current liabilities | 532 | 533 | ||
Non-current amounts due to group undertakings | 0 | 0 | ||
Total non-current liabilities | 6,649 | 3,625 | ||
TOTAL LIABILITIES | 20,019 | 16,426 | ||
REDEEMABLE NONCONTROLLING INTEREST | 51 | 53 | ||
Total Willis Towers Watson shareholders’ equity | 10,065 | 2,229 | ||
Noncontrolling interests | 118 | 131 | ||
Total equity | 10,183 | 2,360 | 2,007 | 2,243 |
TOTAL LIABILITIES AND EQUITY | 30,253 | 18,839 | ||
Consolidating adjustments | Parent Issuer | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Fiduciary assets | 0 | 0 | ||
Accounts receivable, net | 0 | 0 | ||
Prepaid and other current assets | (59) | (7) | ||
Amounts due from group undertakings | (11,247) | (5,939) | ||
Total current assets | (11,306) | (5,946) | ||
Investments in subsidiaries | (12,364) | (4,275) | ||
Fixed assets, net | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Other intangible assets, net | (64) | 0 | ||
Pension benefits assets | 0 | 0 | ||
Other non-current assets | (47) | 0 | ||
Non-current amounts due from group undertakings | (4,973) | (785) | ||
Total non-current assets | (17,448) | (5,060) | ||
TOTAL ASSETS | (28,754) | (11,006) | ||
Fiduciary liabilities | 0 | 0 | ||
Deferred revenue and accrued expenses | (49) | 0 | ||
Short-term debt and current portion of long-term debt | 0 | 0 | ||
Other current liabilities | (2) | (7) | ||
Amounts due to group undertakings | (11,247) | (5,939) | ||
Total current liabilities | (11,298) | (5,946) | ||
Investments in subsidiaries | (387) | |||
Long-term debt | 0 | 0 | ||
Liability for pension benefits | 0 | 0 | ||
Deferred tax liabilities | (149) | 0 | ||
Provision for liabilities | 0 | 0 | ||
Other non-current liabilities | (14) | 0 | ||
Non-current amounts due to group undertakings | (4,973) | (785) | ||
Total non-current liabilities | (5,136) | (1,172) | ||
TOTAL LIABILITIES | (16,434) | (7,118) | ||
REDEEMABLE NONCONTROLLING INTEREST | 0 | 0 | ||
Total Willis Towers Watson shareholders’ equity | (12,320) | (3,888) | ||
Noncontrolling interests | 0 | 0 | ||
Total equity | (12,320) | (3,888) | ||
TOTAL LIABILITIES AND EQUITY | (28,754) | (11,006) | ||
Willis Towers Watson — the Parent Issuer | Reportable Legal Entities | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 0 | 3 | 9 | 3 |
Fiduciary assets | 0 | 0 | ||
Accounts receivable, net | 0 | 0 | ||
Prepaid and other current assets | 0 | 1 | ||
Amounts due from group undertakings | 7,229 | 3,423 | ||
Total current assets | 7,229 | 3,427 | ||
Investments in subsidiaries | 3,409 | 0 | ||
Fixed assets, net | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Other intangible assets, net | 0 | 0 | ||
Pension benefits assets | 0 | 0 | ||
Other non-current assets | 0 | 0 | ||
Non-current amounts due from group undertakings | 0 | 0 | ||
Total non-current assets | 3,409 | 0 | ||
TOTAL ASSETS | 10,638 | 3,427 | ||
Fiduciary liabilities | 0 | 0 | ||
Deferred revenue and accrued expenses | 0 | 1 | ||
Short-term debt and current portion of long-term debt | 0 | 300 | ||
Other current liabilities | 77 | 15 | ||
Amounts due to group undertakings | 0 | 0 | ||
Total current liabilities | 77 | 316 | ||
Investments in subsidiaries | 387 | |||
Long-term debt | 496 | 495 | ||
Liability for pension benefits | 0 | 0 | ||
Deferred tax liabilities | 0 | 0 | ||
Provision for liabilities | 0 | 0 | ||
Other non-current liabilities | 0 | 0 | ||
Non-current amounts due to group undertakings | 0 | 0 | ||
Total non-current liabilities | 496 | 882 | ||
TOTAL LIABILITIES | 573 | 1,198 | ||
REDEEMABLE NONCONTROLLING INTEREST | 0 | 0 | ||
Total Willis Towers Watson shareholders’ equity | 10,065 | 2,229 | ||
Noncontrolling interests | 0 | 0 | ||
Total equity | 10,065 | 2,229 | ||
TOTAL LIABILITIES AND EQUITY | 10,638 | 3,427 | ||
The Guarantors | Reportable Legal Entities | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 0 | 2 | 2 | 3 |
Fiduciary assets | 0 | 0 | ||
Accounts receivable, net | 7 | 7 | ||
Prepaid and other current assets | 72 | 67 | ||
Amounts due from group undertakings | 1,648 | 1,257 | ||
Total current assets | 1,727 | 1,333 | ||
Investments in subsidiaries | 8,955 | 4,275 | ||
Fixed assets, net | 34 | 58 | ||
Goodwill | 0 | 0 | ||
Other intangible assets, net | 64 | 0 | ||
Pension benefits assets | 0 | 0 | ||
Other non-current assets | 90 | 10 | ||
Non-current amounts due from group undertakings | 4,973 | 785 | ||
Total non-current assets | 14,116 | 5,128 | ||
TOTAL ASSETS | 15,843 | 6,461 | ||
Fiduciary liabilities | 0 | 0 | ||
Deferred revenue and accrued expenses | 42 | 68 | ||
Short-term debt and current portion of long-term debt | 416 | 609 | ||
Other current liabilities | 117 | 61 | ||
Amounts due to group undertakings | 9,150 | 4,437 | ||
Total current liabilities | 9,725 | 5,175 | ||
Investments in subsidiaries | 0 | |||
Long-term debt | 2,692 | 1,783 | ||
Liability for pension benefits | 0 | 0 | ||
Deferred tax liabilities | 0 | 1 | ||
Provision for liabilities | 120 | 0 | ||
Other non-current liabilities | 63 | 36 | ||
Non-current amounts due to group undertakings | 0 | 0 | ||
Total non-current liabilities | 2,875 | 1,820 | ||
TOTAL LIABILITIES | 12,600 | 6,995 | ||
REDEEMABLE NONCONTROLLING INTEREST | 0 | 0 | ||
Total Willis Towers Watson shareholders’ equity | 3,243 | (534) | ||
Noncontrolling interests | 0 | 0 | ||
Total equity | 3,243 | (534) | ||
TOTAL LIABILITIES AND EQUITY | 15,843 | 6,461 | ||
Other | Reportable Legal Entities | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 870 | 527 | $ 624 | $ 790 |
Fiduciary assets | 10,505 | 10,458 | ||
Accounts receivable, net | 2,073 | 1,251 | ||
Prepaid and other current assets | 324 | 194 | ||
Amounts due from group undertakings | 2,370 | 1,259 | ||
Total current assets | 16,142 | 13,689 | ||
Investments in subsidiaries | 0 | 0 | ||
Fixed assets, net | 805 | 505 | ||
Goodwill | 10,413 | 3,737 | ||
Other intangible assets, net | 4,368 | 1,115 | ||
Pension benefits assets | 488 | 623 | ||
Other non-current assets | 310 | 288 | ||
Non-current amounts due from group undertakings | 0 | 0 | ||
Total non-current assets | 16,384 | 6,268 | ||
TOTAL ASSETS | 32,526 | 19,957 | ||
Fiduciary liabilities | 10,505 | 10,458 | ||
Deferred revenue and accrued expenses | 1,488 | 683 | ||
Short-term debt and current portion of long-term debt | 92 | 79 | ||
Other current liabilities | 684 | 534 | ||
Amounts due to group undertakings | 2,097 | 1,502 | ||
Total current liabilities | 14,866 | 13,256 | ||
Investments in subsidiaries | 0 | |||
Long-term debt | 169 | 0 | ||
Liability for pension benefits | 1,321 | 279 | ||
Deferred tax liabilities | 1,013 | 239 | ||
Provision for liabilities | 455 | 295 | ||
Other non-current liabilities | 483 | 497 | ||
Non-current amounts due to group undertakings | 4,973 | 785 | ||
Total non-current liabilities | 8,414 | 2,095 | ||
TOTAL LIABILITIES | 23,280 | 15,351 | ||
REDEEMABLE NONCONTROLLING INTEREST | 51 | 53 | ||
Total Willis Towers Watson shareholders’ equity | 9,077 | 4,422 | ||
Noncontrolling interests | 118 | 131 | ||
Total equity | 9,195 | 4,553 | ||
TOTAL LIABILITIES AND EQUITY | $ 32,526 | $ 19,957 |
X | ||||||||||
- Definition Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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X | ||||||||||
- Definition Amount of short-term debt and current maturity of long-term debt and capital lease obligations due within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, with jurisdictional netting and classified as noncurrent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount for overfunded plans recognized in the balance sheet as a noncurrent asset associated with a defined benefit pension plan or other postretirement defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total investments in (A) an entity in which the entity has significant influence, but does not have control, (B) subsidiaries that are not required to be consolidated and are accounted for using the equity and or cost method, and (C) an entity in which the reporting entity shares control of the entity with another party or group. Includes long-term advances receivable from a party that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of obligation due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after unamortized (discount) premium and debt issuance costs of long-term debt classified as noncurrent and excluding amounts to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of noncurrent assets classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of liabilities classified as other, due within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of liabilities classified as other, due after one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition This represents the noncurrent liability for underfunded plans recognized in the balance sheet that is associated with the defined benefit pension plans and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition As of the reporting date, the aggregate carrying amount of all noncontrolling interests which are redeemable by the (parent) entity (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the (parent) entity. This item includes noncontrolling interest holder's ownership (or holders' ownership) regardless of the type of equity interest (common, preferred, other) including all potential organizational (legal) forms of the investee entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Deferred Revenue and Accrued Liabilities, Current No definition available.
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- Definition Due from Group Undertakings, Current No definition available.
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- Definition Due from Group Undertakings, Noncurrent No definition available.
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- Definition Due to Group Undertaking, Noncurrent No definition available.
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- Definition Due to Group Undertakings, Current No definition available.
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X | ||||||||||
- Definition Fiduciary Assets, Current No definition available.
|
X | ||||||||||
- Definition Fiduciary Liabilities, Current No definition available.
|
X | ||||||||||
- Definition Liability from Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures No definition available.
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X | ||||||||||
- Definition Provision For Liabilities No definition available.
|
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- Details
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- Details
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Financial Information for Parent Issuer, Guarantor Subsidiaries and Non-Guarantor Subsidiaries - Cash Flows (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Condensed Financial Statements, Captions [Line Items] | |||
NET CASH (USED IN)/FROM OPERATING ACTIVITIES | $ 920 | $ 243 | $ 477 |
CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES | |||
Additions to fixed assets and software for internal use | (218) | (146) | (113) |
Capitalized software costs | (85) | ||
Acquisitions of operations, net of cash acquired | 476 | (857) | (245) |
Net (cash paid)/proceeds from sale of operations | (1) | 44 | 86 |
Other, net | 23 | 16 | (4) |
Proceeds from intercompany investing activities | 0 | 0 | 0 |
Repayments of intercompany investing activities | 0 | 0 | 0 |
Reduction in investment in subsidiaries | 0 | ||
Additional investment in subsidiaries | 0 | 0 | 0 |
Net cash from/(used in) investing activities | 195 | (943) | (276) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Net (payments)/borrowings on revolving credit facility | (237) | 469 | 0 |
Debt issuance costs | (14) | (5) | (3) |
Senior notes issued | 1,606 | 0 | 0 |
Proceeds from issuance of other debt | 404 | 592 | 0 |
Repayments of debt | (1,901) | (166) | (15) |
Repurchase of shares | (396) | (82) | (213) |
Proceeds from issuance of shares and excess tax benefit | 63 | 131 | 139 |
Payments of deferred and contingent consideration related to acquisitions | (67) | 0 | 0 |
Dividends paid | (199) | (277) | (210) |
Acquisitions of and dividends paid to noncontrolling interests | (21) | (21) | (21) |
Proceeds from intercompany financing activities | 0 | 0 | 0 |
Repayments of intercompany financing activities | 0 | 0 | 0 |
Net cash provided by (used in) financing activities | (762) | 641 | (323) |
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | 353 | (59) | (122) |
Effect of exchange rate changes on cash and cash equivalents | (15) | (44) | (39) |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 532 | 635 | 796 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 870 | 532 | 635 |
Consolidating adjustments | Parent Issuer | |||
Condensed Financial Statements, Captions [Line Items] | |||
NET CASH (USED IN)/FROM OPERATING ACTIVITIES | (157) | (150) | (352) |
CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES | |||
Additions to fixed assets and software for internal use | 94 | 0 | 1 |
Capitalized software costs | 0 | ||
Acquisitions of operations, net of cash acquired | 0 | 0 | 0 |
Net (cash paid)/proceeds from sale of operations | 3 | 0 | 0 |
Other, net | (30) | 0 | (1) |
Proceeds from intercompany investing activities | (148) | (608) | (916) |
Repayments of intercompany investing activities | 8,634 | 1,009 | 226 |
Reduction in investment in subsidiaries | (8,200) | ||
Additional investment in subsidiaries | 8,200 | 598 | 31 |
Net cash from/(used in) investing activities | 8,553 | 999 | (659) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Net (payments)/borrowings on revolving credit facility | 0 | 0 | |
Debt issuance costs | 0 | 0 | 0 |
Senior notes issued | 0 | ||
Proceeds from issuance of other debt | 0 | 0 | |
Repayments of debt | 0 | 0 | 0 |
Repurchase of shares | 0 | 0 | 0 |
Proceeds from issuance of shares and excess tax benefit | 0 | (598) | (31) |
Payments of deferred and contingent consideration related to acquisitions | 0 | ||
Dividends paid | 90 | 150 | 352 |
Acquisitions of and dividends paid to noncontrolling interests | 0 | 0 | 0 |
Proceeds from intercompany financing activities | (8,634) | (1,009) | (226) |
Repayments of intercompany financing activities | 148 | 608 | 916 |
Net cash provided by (used in) financing activities | (8,396) | (849) | 1,011 |
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | 0 | 0 | 0 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | 0 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 0 | 0 | 0 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 0 | 0 | 0 |
Willis Towers Watson — the Parent Issuer | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
NET CASH (USED IN)/FROM OPERATING ACTIVITIES | (20) | (10) | (35) |
CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES | |||
Additions to fixed assets and software for internal use | 0 | 0 | 0 |
Capitalized software costs | 0 | ||
Acquisitions of operations, net of cash acquired | 0 | 0 | 0 |
Net (cash paid)/proceeds from sale of operations | 0 | 0 | 0 |
Other, net | 0 | 0 | 0 |
Proceeds from intercompany investing activities | 0 | 321 | 361 |
Repayments of intercompany investing activities | (3,751) | (82) | 0 |
Reduction in investment in subsidiaries | 4,600 | ||
Additional investment in subsidiaries | 0 | 0 | (31) |
Net cash from/(used in) investing activities | 849 | 239 | 330 |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Net (payments)/borrowings on revolving credit facility | 0 | 0 | 0 |
Debt issuance costs | 0 | 0 | 0 |
Senior notes issued | 0 | ||
Proceeds from issuance of other debt | 0 | 0 | 0 |
Repayments of debt | (300) | 0 | 0 |
Repurchase of shares | (396) | (82) | (213) |
Proceeds from issuance of shares and excess tax benefit | 63 | 124 | 134 |
Payments of deferred and contingent consideration related to acquisitions | 0 | ||
Dividends paid | (199) | (277) | (210) |
Acquisitions of and dividends paid to noncontrolling interests | 0 | 0 | 0 |
Proceeds from intercompany financing activities | 0 | 0 | 0 |
Repayments of intercompany financing activities | 0 | 0 | 0 |
Net cash provided by (used in) financing activities | (832) | (235) | (289) |
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (3) | (6) | 6 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | 0 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 3 | 9 | 3 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 0 | 3 | 9 |
The Guarantors | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
NET CASH (USED IN)/FROM OPERATING ACTIVITIES | (4) | 626 | 652 |
CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES | |||
Additions to fixed assets and software for internal use | (91) | (18) | (19) |
Capitalized software costs | 0 | ||
Acquisitions of operations, net of cash acquired | 0 | 0 | 0 |
Net (cash paid)/proceeds from sale of operations | 0 | 0 | 0 |
Other, net | 33 | 0 | 1 |
Proceeds from intercompany investing activities | 118 | 136 | 120 |
Repayments of intercompany investing activities | (4,114) | (746) | (180) |
Reduction in investment in subsidiaries | 3,600 | ||
Additional investment in subsidiaries | (4,600) | (598) | 0 |
Net cash from/(used in) investing activities | (5,054) | (1,226) | (78) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Net (payments)/borrowings on revolving credit facility | (237) | 469 | |
Debt issuance costs | (14) | (5) | 0 |
Senior notes issued | 1,606 | ||
Proceeds from issuance of other debt | 400 | 592 | |
Repayments of debt | (1,037) | (165) | (15) |
Repurchase of shares | 0 | 0 | 0 |
Proceeds from issuance of shares and excess tax benefit | 0 | 0 | 0 |
Payments of deferred and contingent consideration related to acquisitions | 0 | ||
Dividends paid | 0 | 0 | 0 |
Acquisitions of and dividends paid to noncontrolling interests | 0 | 0 | (4) |
Proceeds from intercompany financing activities | 4,368 | 181 | 46 |
Repayments of intercompany financing activities | (30) | (472) | (602) |
Net cash provided by (used in) financing activities | 5,056 | 600 | (575) |
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (2) | 0 | (1) |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | 0 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 2 | 2 | 3 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 0 | 2 | 2 |
Other | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
NET CASH (USED IN)/FROM OPERATING ACTIVITIES | 1,101 | (223) | 212 |
CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES | |||
Additions to fixed assets and software for internal use | (221) | (128) | (95) |
Capitalized software costs | (85) | ||
Acquisitions of operations, net of cash acquired | 476 | (857) | (245) |
Net (cash paid)/proceeds from sale of operations | (4) | 44 | 86 |
Other, net | 20 | 16 | (4) |
Proceeds from intercompany investing activities | 30 | 151 | 435 |
Repayments of intercompany investing activities | (769) | (181) | (46) |
Reduction in investment in subsidiaries | 0 | ||
Additional investment in subsidiaries | (3,600) | 0 | 0 |
Net cash from/(used in) investing activities | (4,153) | (955) | 131 |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Net (payments)/borrowings on revolving credit facility | 0 | 0 | |
Debt issuance costs | 0 | 0 | (3) |
Senior notes issued | 0 | ||
Proceeds from issuance of other debt | 4 | 0 | |
Repayments of debt | (564) | (1) | 0 |
Repurchase of shares | 0 | 0 | 0 |
Proceeds from issuance of shares and excess tax benefit | 0 | 605 | 36 |
Payments of deferred and contingent consideration related to acquisitions | (67) | ||
Dividends paid | (90) | (150) | (352) |
Acquisitions of and dividends paid to noncontrolling interests | (21) | (21) | (17) |
Proceeds from intercompany financing activities | 4,266 | 828 | 180 |
Repayments of intercompany financing activities | (118) | (136) | (314) |
Net cash provided by (used in) financing activities | 3,410 | 1,125 | (470) |
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | 358 | (53) | (127) |
Effect of exchange rate changes on cash and cash equivalents | (15) | (44) | (39) |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 527 | 624 | 790 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ 870 | $ 527 | $ 624 |
X | ||||||||||
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Amount of increase (decrease) from the effect of exchange rate changes on cash and cash equivalent balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of cash (inflow) outflow from investing activities classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of cash outflow in the form of ordinary dividends to common shareholders of the parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The cash outflow associated with the development or modification of software programs or applications for internal use (that is, not to be sold, leased or otherwise marketed to others) that qualify for capitalization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash inflow associated with the amount received from the sale of a business segment or subsidiary or sale of an entity that is related to it but not strictly controlled during the period (for example, an unconsolidated subsidiary, affiliate, joint venture or equity method investment). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of cash inflow from issuance of long-term debt classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The cash inflow from a borrowing with the highest claim on the assets of the entity in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of cash inflow (outflow) from (to) a noncontrolling interest. Excludes dividends paid to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The net cash inflow or cash outflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with either short term or long term maturity that is collateralized (backed by pledge, mortgage or other lien in the entity's assets). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Decrease in Investment in Subsidiaries No definition available.
|
X | ||||||||||
- Definition Increase in Investment in Subsidiaries No definition available.
|
X | ||||||||||
- Definition The financing cash outflow related to payments for deferred or contingent consideration related to the acquisition of a business No definition available.
|
X | ||||||||||
- Definition Proceeds from Intercompany Financing Activities No definition available.
|
X | ||||||||||
- Definition Proceeds from Intercompany Investing Activities No definition available.
|
X | ||||||||||
- Definition Repayments of Intercompany Financing Activities No definition available.
|
X | ||||||||||
- Definition Repayments of Intercompany Investing Activities No definition available.
|
X | ||||||||||
- Details
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- Details
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- Details
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Financial Information for Issuer, Parent Guarantor, Other Guarantor Subsidiaries and Non-Guarantor Subsidiaries - Narrative (Details) |
Dec. 31, 2016
USD ($)
|
May 26, 2016
EUR (€)
|
May 26, 2016
USD ($)
|
Mar. 15, 2016
USD ($)
|
Aug. 15, 2013
USD ($)
|
---|---|---|---|---|---|
Debt Instrument [Line Items] | |||||
Long-term debt | $ 4,943,000,000 | ||||
Senior Notes | |||||
Debt Instrument [Line Items] | |||||
Long-term debt | 3,176,000,000 | ||||
Trinity Acquisition plc | Senior Notes | |||||
Debt Instrument [Line Items] | |||||
Long-term debt | $ 2,100,000,000 | ||||
Face amount of note | $ 1,000,000,000 | $ 525,000,000 | |||
2.125% senior notes due 2022 | Trinity Acquisition plc | Senior Notes | |||||
Debt Instrument [Line Items] | |||||
Face amount of note | € 540,000,000 | $ 609,000,000 |
X | ||||||||||
- Definition Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Financial Information for Issuer, Parent Guarantor, Other Guarantor Subsidiaries and Non-Guarantor Subsidiaries - Statement of Operations (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2016 |
Sep. 30, 2016 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
Sep. 30, 2015 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Revenues | |||||||||||
Commissions and fees | $ 7,778 | $ 3,809 | $ 3,767 | ||||||||
Interest and other income | 109 | 20 | 35 | ||||||||
Revenues | $ 1,927 | $ 1,777 | $ 1,949 | $ 2,234 | $ 974 | $ 846 | $ 922 | $ 1,087 | 7,887 | 3,829 | 3,802 |
Costs of providing services | |||||||||||
Salaries and benefits | 4,646 | 2,303 | 2,314 | ||||||||
Other operating expenses | 1,551 | 718 | 659 | ||||||||
Depreciation expense | 178 | 95 | 92 | ||||||||
Amortization | (591) | (76) | (54) | ||||||||
Restructuring costs | 193 | 126 | 36 | ||||||||
Integration expenses | (177) | (84) | 0 | ||||||||
Total costs of providing services | 1,839 | 1,776 | 1,813 | 1,908 | 972 | 819 | 817 | 794 | 7,336 | 3,402 | 3,155 |
Income from operations | 88 | 1 | 136 | 326 | 2 | 27 | 105 | 293 | 551 | 427 | 647 |
Income from Group undertakings | 0 | 0 | 0 | ||||||||
Expenses due to Group undertakings | 0 | 0 | 0 | ||||||||
Interest expense | 184 | 142 | 135 | ||||||||
Other (income)/expense, net | 27 | (55) | (6) | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INTEREST IN EARNINGS OF ASSOCIATES | 340 | 340 | 518 | ||||||||
Provision for income taxes | (96) | (33) | 159 | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INTEREST IN EARNINGS OF ASSOCIATES | 436 | 373 | 359 | ||||||||
Interest in (loss)/earnings of associates, net of tax | (2) | (11) | (14) | ||||||||
Equity account for subsidiaries | 0 | 0 | 0 | ||||||||
NET INCOME | 148 | (31) | 76 | 245 | (18) | 116 | 72 | 214 | 438 | 384 | 373 |
Income attributable to noncontrolling interests | (18) | (11) | (11) | ||||||||
NET INCOME ATTRIBUTABLE TO WILLIS TOWERS WATSON | $ 142 | $ (32) | $ 72 | $ 238 | $ (24) | $ 117 | $ 70 | $ 210 | 420 | 373 | 362 |
Consolidating adjustments | Issuer | |||||||||||
Revenues | |||||||||||
Commissions and fees | 0 | 0 | 0 | ||||||||
Interest and other income | 0 | 0 | 0 | ||||||||
Revenues | 0 | 0 | 0 | ||||||||
Costs of providing services | |||||||||||
Salaries and benefits | 0 | 0 | 0 | ||||||||
Other operating expenses | 0 | 0 | 0 | ||||||||
Depreciation expense | 0 | 0 | 0 | ||||||||
Amortization | 0 | 0 | 0 | ||||||||
Restructuring costs | 0 | 0 | 0 | ||||||||
Integration expenses | 0 | 0 | |||||||||
Total costs of providing services | 0 | 0 | 0 | ||||||||
Income from operations | 0 | 0 | 0 | ||||||||
Income from Group undertakings | 928 | 577 | 643 | ||||||||
Expenses due to Group undertakings | (928) | (577) | (643) | ||||||||
Interest expense | 0 | 0 | 0 | ||||||||
Other (income)/expense, net | 0 | 0 | (230) | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INTEREST IN EARNINGS OF ASSOCIATES | 0 | 0 | 230 | ||||||||
Provision for income taxes | 0 | 0 | 0 | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INTEREST IN EARNINGS OF ASSOCIATES | 0 | 0 | 230 | ||||||||
Interest in (loss)/earnings of associates, net of tax | 0 | 0 | 0 | ||||||||
Equity account for subsidiaries | (863) | (1,219) | (1,360) | ||||||||
NET INCOME | (863) | (1,219) | (1,130) | ||||||||
Income attributable to noncontrolling interests | 0 | 0 | 0 | ||||||||
NET INCOME ATTRIBUTABLE TO WILLIS TOWERS WATSON | (863) | (1,219) | (1,130) | ||||||||
Willis Towers Watson | Reportable Legal Entities | |||||||||||
Revenues | |||||||||||
Commissions and fees | 0 | 0 | 0 | ||||||||
Interest and other income | 0 | 0 | 0 | ||||||||
Revenues | 0 | 0 | 0 | ||||||||
Costs of providing services | |||||||||||
Salaries and benefits | 2 | 1 | 1 | ||||||||
Other operating expenses | 3 | 8 | 16 | ||||||||
Depreciation expense | 0 | 0 | 0 | ||||||||
Amortization | 0 | 0 | 0 | ||||||||
Restructuring costs | 0 | 0 | 0 | ||||||||
Integration expenses | (1) | (4) | |||||||||
Total costs of providing services | 6 | 13 | 17 | ||||||||
Income from operations | (6) | (13) | (17) | ||||||||
Income from Group undertakings | (3) | 0 | 0 | ||||||||
Expenses due to Group undertakings | 3 | 0 | 0 | ||||||||
Interest expense | 32 | 43 | 43 | ||||||||
Other (income)/expense, net | 0 | 10 | 15 | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INTEREST IN EARNINGS OF ASSOCIATES | (38) | (66) | (75) | ||||||||
Provision for income taxes | 0 | 0 | 0 | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INTEREST IN EARNINGS OF ASSOCIATES | (38) | (66) | (75) | ||||||||
Interest in (loss)/earnings of associates, net of tax | 0 | 0 | 0 | ||||||||
Equity account for subsidiaries | 458 | 439 | 437 | ||||||||
NET INCOME | 420 | 373 | 362 | ||||||||
Income attributable to noncontrolling interests | 0 | 0 | 0 | ||||||||
NET INCOME ATTRIBUTABLE TO WILLIS TOWERS WATSON | 420 | 373 | 362 | ||||||||
The Other Guarantors | Reportable Legal Entities | |||||||||||
Revenues | |||||||||||
Commissions and fees | 19 | 11 | 8 | ||||||||
Interest and other income | 2 | 1 | 0 | ||||||||
Revenues | 21 | 12 | 8 | ||||||||
Costs of providing services | |||||||||||
Salaries and benefits | 16 | 77 | 81 | ||||||||
Other operating expenses | 200 | 101 | 133 | ||||||||
Depreciation expense | 19 | 22 | 21 | ||||||||
Amortization | 0 | 0 | 0 | ||||||||
Restructuring costs | 68 | 41 | 14 | ||||||||
Integration expenses | (42) | (14) | |||||||||
Total costs of providing services | 345 | 255 | 249 | ||||||||
Income from operations | (324) | (243) | (241) | ||||||||
Income from Group undertakings | (657) | (374) | (450) | ||||||||
Expenses due to Group undertakings | 228 | 200 | 190 | ||||||||
Interest expense | 38 | 41 | 44 | ||||||||
Other (income)/expense, net | (2) | (42) | 220 | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INTEREST IN EARNINGS OF ASSOCIATES | 69 | (68) | (245) | ||||||||
Provision for income taxes | (125) | (51) | (54) | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INTEREST IN EARNINGS OF ASSOCIATES | 194 | (17) | (191) | ||||||||
Interest in (loss)/earnings of associates, net of tax | 0 | (9) | (10) | ||||||||
Equity account for subsidiaries | 254 | 443 | 609 | ||||||||
NET INCOME | 448 | 435 | 428 | ||||||||
Income attributable to noncontrolling interests | 0 | 0 | 0 | ||||||||
NET INCOME ATTRIBUTABLE TO WILLIS TOWERS WATSON | 448 | 435 | 428 | ||||||||
The Issuer | Reportable Legal Entities | |||||||||||
Revenues | |||||||||||
Commissions and fees | 0 | 0 | 0 | ||||||||
Interest and other income | 0 | 0 | 0 | ||||||||
Revenues | 0 | 0 | 0 | ||||||||
Costs of providing services | |||||||||||
Salaries and benefits | 0 | 0 | 0 | ||||||||
Other operating expenses | 0 | 0 | 0 | ||||||||
Depreciation expense | 0 | 0 | 0 | ||||||||
Amortization | 0 | 0 | 0 | ||||||||
Restructuring costs | 0 | 0 | 0 | ||||||||
Integration expenses | 0 | 0 | |||||||||
Total costs of providing services | 0 | 0 | 0 | ||||||||
Income from operations | 0 | 0 | 0 | ||||||||
Income from Group undertakings | (132) | (93) | (91) | ||||||||
Expenses due to Group undertakings | 26 | 26 | 29 | ||||||||
Interest expense | 90 | 40 | 36 | ||||||||
Other (income)/expense, net | 0 | 0 | 0 | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INTEREST IN EARNINGS OF ASSOCIATES | 16 | 27 | 26 | ||||||||
Provision for income taxes | 3 | 5 | 5 | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INTEREST IN EARNINGS OF ASSOCIATES | 13 | 22 | 21 | ||||||||
Interest in (loss)/earnings of associates, net of tax | 0 | 0 | 0 | ||||||||
Equity account for subsidiaries | 151 | 337 | 314 | ||||||||
NET INCOME | 164 | 359 | 335 | ||||||||
Income attributable to noncontrolling interests | 0 | 0 | 0 | ||||||||
NET INCOME ATTRIBUTABLE TO WILLIS TOWERS WATSON | 164 | 359 | 335 | ||||||||
Other | Reportable Legal Entities | |||||||||||
Revenues | |||||||||||
Commissions and fees | 7,759 | 3,798 | 3,759 | ||||||||
Interest and other income | 107 | 19 | 35 | ||||||||
Revenues | 7,866 | 3,817 | 3,794 | ||||||||
Costs of providing services | |||||||||||
Salaries and benefits | 4,628 | 2,225 | 2,232 | ||||||||
Other operating expenses | 1,348 | 609 | 510 | ||||||||
Depreciation expense | 159 | 73 | 71 | ||||||||
Amortization | (591) | (76) | (54) | ||||||||
Restructuring costs | 125 | 85 | 22 | ||||||||
Integration expenses | (134) | (66) | |||||||||
Total costs of providing services | 6,985 | 3,134 | 2,889 | ||||||||
Income from operations | 881 | 683 | 905 | ||||||||
Income from Group undertakings | (136) | (110) | (102) | ||||||||
Expenses due to Group undertakings | 671 | 351 | 424 | ||||||||
Interest expense | 24 | 18 | 12 | ||||||||
Other (income)/expense, net | 29 | (23) | (11) | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INTEREST IN EARNINGS OF ASSOCIATES | 293 | 447 | 582 | ||||||||
Provision for income taxes | 26 | 13 | 208 | ||||||||
INCOME FROM CONTINUING OPERATIONS BEFORE INTEREST IN EARNINGS OF ASSOCIATES | 267 | 434 | 374 | ||||||||
Interest in (loss)/earnings of associates, net of tax | (2) | (2) | (4) | ||||||||
Equity account for subsidiaries | 0 | 0 | 0 | ||||||||
NET INCOME | 269 | 436 | 378 | ||||||||
Income attributable to noncontrolling interests | (18) | (11) | (11) | ||||||||
NET INCOME ATTRIBUTABLE TO WILLIS TOWERS WATSON | $ 251 | $ 425 | $ 367 |
X | ||||||||||
- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Costs incurred to effect a business combination which have been expensed during the period. Such costs could include business integration costs, systems integration and conversion costs, and severance and other employee-related costs. No definition available.
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- References No definition available.
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- Definition The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after tax of income (loss) of subsidiary attributable to the parent entity. No definition available.
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate amount of expenditures for salaries, wages, profit sharing and incentive compensation, and other employee benefits, including equity-based compensation, and pension and other postretirement benefit expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount, after sales adjustments, returns, allowances, and discounts, of revenue classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Aggregate revenue during the period from services rendered in the normal course of business, after deducting allowances and discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Costs and Expenses, Group Undertakings No definition available.
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- Definition Income (Loss) from Continuing Operations, Net of Tax, Before Equity Method Investments, Noncontrolling Interest No definition available.
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- Definition Revenue From Group Undertakings No definition available.
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Financial Information for Issuer, Parent Guarantor, Other Guarantor Subsidiaries and Non-Guarantor Subsidiaries - Comprehensive Income (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Condensed Financial Statements, Captions [Line Items] | |||
Comprehensive (loss)/income before noncontrolling interests | $ (429) | $ 403 | $ (6) |
Comprehensive loss/(income) attributable to noncontrolling interests | 2 | (1) | (5) |
Comprehensive income/(loss) attributable to Willis Towers Watson | (427) | 402 | (11) |
Consolidating adjustments | Issuer | |||
Condensed Financial Statements, Captions [Line Items] | |||
Comprehensive (loss)/income before noncontrolling interests | 1,583 | (1,316) | (108) |
Comprehensive loss/(income) attributable to noncontrolling interests | 0 | 0 | 0 |
Comprehensive income/(loss) attributable to Willis Towers Watson | 1,583 | (1,316) | (108) |
Willis Towers Watson | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
Comprehensive (loss)/income before noncontrolling interests | (427) | 402 | (11) |
Comprehensive loss/(income) attributable to noncontrolling interests | 0 | 0 | 0 |
Comprehensive income/(loss) attributable to Willis Towers Watson | (427) | 402 | (11) |
The Other Guarantors | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
Comprehensive (loss)/income before noncontrolling interests | (379) | 462 | 69 |
Comprehensive loss/(income) attributable to noncontrolling interests | 0 | 0 | 0 |
Comprehensive income/(loss) attributable to Willis Towers Watson | (379) | 462 | 69 |
The Issuer | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
Comprehensive (loss)/income before noncontrolling interests | (656) | 400 | (5) |
Comprehensive loss/(income) attributable to noncontrolling interests | 0 | 0 | 0 |
Comprehensive income/(loss) attributable to Willis Towers Watson | (656) | 400 | (5) |
Other | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
Comprehensive (loss)/income before noncontrolling interests | (550) | 455 | 49 |
Comprehensive loss/(income) attributable to noncontrolling interests | 2 | (1) | (5) |
Comprehensive income/(loss) attributable to Willis Towers Watson | $ (548) | $ 454 | $ 44 |
X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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Financial Information for Issuer, Parent Guarantor, Other Guarantor Subsidiaries and Non-Guarantor Subsidiaries - Balance Sheet (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
---|---|---|---|---|
ASSETS | ||||
Cash and cash equivalents | $ 870 | $ 532 | $ 635 | $ 796 |
Fiduciary assets | 10,505 | 10,458 | ||
Accounts receivable, net | 2,080 | 1,258 | ||
Prepaid and other current assets | 337 | 255 | ||
Amounts due from group undertakings | 0 | 0 | ||
Total current assets | 13,792 | 12,503 | ||
Investments in subsidiaries | 0 | 0 | ||
Fixed assets, net | 839 | 563 | ||
Goodwill | 10,413 | 3,737 | 2,937 | |
Other intangible assets, net | 4,368 | 1,115 | ||
Pension benefits assets | 488 | 623 | ||
Other non-current assets | 353 | 298 | ||
Non-current amounts due from group undertakings | 0 | 0 | ||
Total non-current assets | 16,461 | 6,336 | ||
TOTAL ASSETS | 30,253 | 18,839 | ||
LIABILITIES AND EQUITY | ||||
Fiduciary liabilities | 10,505 | 10,458 | ||
Deferred revenue and accrued expenses | 1,481 | 752 | ||
Short-term debt and current portion of long-term debt | 508 | 988 | ||
Other current liabilities | 876 | 603 | ||
Amounts due to group undertakings | 0 | 0 | ||
Total current liabilities | 13,370 | 12,801 | ||
Investments in subsidiaries | 0 | |||
Long-term debt | 3,357 | 2,278 | ||
Liability for pension benefits | 1,321 | 279 | ||
Deferred tax liabilities | 864 | 240 | ||
Provision for liabilities | 575 | 295 | ||
Other non-current liabilities | 532 | 533 | ||
Non-current amounts due to group undertakings | 0 | 0 | ||
Total non-current liabilities | 6,649 | 3,625 | ||
TOTAL LIABILITIES | 20,019 | 16,426 | ||
EQUITY | ||||
REDEEMABLE NONCONTROLLING INTEREST | 51 | 53 | ||
Total Willis Towers Watson shareholders’ equity | 10,065 | 2,229 | ||
Noncontrolling interests | 118 | 131 | ||
Total equity | 10,183 | 2,360 | 2,007 | 2,243 |
TOTAL LIABILITIES AND EQUITY | 30,253 | 18,839 | ||
Consolidating adjustments | Issuer | ||||
ASSETS | ||||
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Fiduciary assets | 0 | 0 | ||
Accounts receivable, net | 0 | 0 | ||
Prepaid and other current assets | (62) | (12) | ||
Amounts due from group undertakings | (12,043) | (7,171) | ||
Total current assets | (12,105) | (7,183) | ||
Investments in subsidiaries | (19,339) | (7,161) | ||
Fixed assets, net | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Other intangible assets, net | (64) | 0 | ||
Pension benefits assets | 0 | 0 | ||
Other non-current assets | (47) | 0 | ||
Non-current amounts due from group undertakings | (5,914) | (1,303) | ||
Total non-current assets | (25,364) | (8,464) | ||
TOTAL ASSETS | (37,469) | (15,647) | ||
LIABILITIES AND EQUITY | ||||
Fiduciary liabilities | 0 | 0 | ||
Deferred revenue and accrued expenses | (49) | 0 | ||
Short-term debt and current portion of long-term debt | 0 | 0 | ||
Other current liabilities | (5) | (12) | ||
Amounts due to group undertakings | (12,043) | (7,171) | ||
Total current liabilities | (12,097) | (7,183) | ||
Investments in subsidiaries | (387) | |||
Long-term debt | 0 | 0 | ||
Liability for pension benefits | 0 | 0 | ||
Deferred tax liabilities | (149) | 0 | ||
Provision for liabilities | 0 | 0 | ||
Other non-current liabilities | (14) | 0 | ||
Non-current amounts due to group undertakings | (5,914) | (1,303) | ||
Total non-current liabilities | (6,077) | (1,690) | ||
TOTAL LIABILITIES | (18,174) | (8,873) | ||
EQUITY | ||||
REDEEMABLE NONCONTROLLING INTEREST | 0 | 0 | ||
Total Willis Towers Watson shareholders’ equity | (19,295) | (6,774) | ||
Noncontrolling interests | 0 | 0 | ||
Total equity | (19,295) | (6,774) | ||
TOTAL LIABILITIES AND EQUITY | (37,469) | (15,647) | ||
Willis Towers Watson | Reportable Legal Entities | ||||
ASSETS | ||||
Cash and cash equivalents | 0 | 3 | 9 | 3 |
Fiduciary assets | 0 | 0 | ||
Accounts receivable, net | 0 | 0 | ||
Prepaid and other current assets | 0 | 1 | ||
Amounts due from group undertakings | 7,229 | 3,423 | ||
Total current assets | 7,229 | 3,427 | ||
Investments in subsidiaries | 3,409 | 0 | ||
Fixed assets, net | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Other intangible assets, net | 0 | 0 | ||
Pension benefits assets | 0 | 0 | ||
Other non-current assets | 0 | 0 | ||
Non-current amounts due from group undertakings | 0 | 0 | ||
Total non-current assets | 3,409 | 0 | ||
TOTAL ASSETS | 10,638 | 3,427 | ||
LIABILITIES AND EQUITY | ||||
Fiduciary liabilities | 0 | 0 | ||
Deferred revenue and accrued expenses | 0 | 1 | ||
Short-term debt and current portion of long-term debt | 0 | 300 | ||
Other current liabilities | 77 | 15 | ||
Amounts due to group undertakings | 0 | 0 | ||
Total current liabilities | 77 | 316 | ||
Investments in subsidiaries | 387 | |||
Long-term debt | 496 | 495 | ||
Liability for pension benefits | 0 | 0 | ||
Deferred tax liabilities | 0 | 0 | ||
Provision for liabilities | 0 | 0 | ||
Other non-current liabilities | 0 | 0 | ||
Non-current amounts due to group undertakings | 0 | 0 | ||
Total non-current liabilities | 496 | 882 | ||
TOTAL LIABILITIES | 573 | 1,198 | ||
EQUITY | ||||
REDEEMABLE NONCONTROLLING INTEREST | 0 | 0 | ||
Total Willis Towers Watson shareholders’ equity | 10,065 | 2,229 | ||
Noncontrolling interests | 0 | 0 | ||
Total equity | 10,065 | 2,229 | ||
TOTAL LIABILITIES AND EQUITY | 10,638 | 3,427 | ||
The Other Guarantors | Reportable Legal Entities | ||||
ASSETS | ||||
Cash and cash equivalents | 0 | 2 | 2 | 3 |
Fiduciary assets | 0 | 0 | ||
Accounts receivable, net | 7 | 7 | ||
Prepaid and other current assets | 74 | 72 | ||
Amounts due from group undertakings | 849 | 951 | ||
Total current assets | 930 | 1,032 | ||
Investments in subsidiaries | 8,621 | 4,069 | ||
Fixed assets, net | 34 | 58 | ||
Goodwill | 0 | 0 | ||
Other intangible assets, net | 64 | 0 | ||
Pension benefits assets | 0 | 0 | ||
Other non-current assets | 90 | 9 | ||
Non-current amounts due from group undertakings | 4,859 | 785 | ||
Total non-current assets | 13,668 | 4,921 | ||
TOTAL ASSETS | 14,598 | 5,953 | ||
LIABILITIES AND EQUITY | ||||
Fiduciary liabilities | 0 | 0 | ||
Deferred revenue and accrued expenses | 41 | 68 | ||
Short-term debt and current portion of long-term debt | 394 | 0 | ||
Other current liabilities | 87 | 50 | ||
Amounts due to group undertakings | 9,946 | 5,234 | ||
Total current liabilities | 10,468 | 5,352 | ||
Investments in subsidiaries | 0 | |||
Long-term debt | 186 | 580 | ||
Liability for pension benefits | 0 | 0 | ||
Deferred tax liabilities | 0 | 1 | ||
Provision for liabilities | 120 | 0 | ||
Other non-current liabilities | 63 | 36 | ||
Non-current amounts due to group undertakings | 518 | 518 | ||
Total non-current liabilities | 887 | 1,135 | ||
TOTAL LIABILITIES | 11,355 | 6,487 | ||
EQUITY | ||||
REDEEMABLE NONCONTROLLING INTEREST | 0 | 0 | ||
Total Willis Towers Watson shareholders’ equity | 3,243 | (534) | ||
Noncontrolling interests | 0 | 0 | ||
Total equity | 3,243 | (534) | ||
TOTAL LIABILITIES AND EQUITY | 14,598 | 5,953 | ||
The Issuer | Reportable Legal Entities | ||||
ASSETS | ||||
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Fiduciary assets | 0 | 0 | ||
Accounts receivable, net | 0 | 0 | ||
Prepaid and other current assets | 1 | 0 | ||
Amounts due from group undertakings | 1,595 | 1,538 | ||
Total current assets | 1,596 | 1,538 | ||
Investments in subsidiaries | 7,309 | 3,092 | ||
Fixed assets, net | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Other intangible assets, net | 0 | 0 | ||
Pension benefits assets | 0 | 0 | ||
Other non-current assets | 0 | 1 | ||
Non-current amounts due from group undertakings | 1,055 | 518 | ||
Total non-current assets | 8,364 | 3,611 | ||
TOTAL ASSETS | 9,960 | 5,149 | ||
LIABILITIES AND EQUITY | ||||
Fiduciary liabilities | 0 | 0 | ||
Deferred revenue and accrued expenses | 1 | 0 | ||
Short-term debt and current portion of long-term debt | 22 | 609 | ||
Other current liabilities | 33 | 16 | ||
Amounts due to group undertakings | 0 | 435 | ||
Total current liabilities | 56 | 1,060 | ||
Investments in subsidiaries | 0 | |||
Long-term debt | 2,506 | 1,203 | ||
Liability for pension benefits | 0 | 0 | ||
Deferred tax liabilities | 0 | 0 | ||
Provision for liabilities | 0 | 0 | ||
Other non-current liabilities | 0 | 0 | ||
Non-current amounts due to group undertakings | 423 | 0 | ||
Total non-current liabilities | 2,929 | 1,203 | ||
TOTAL LIABILITIES | 2,985 | 2,263 | ||
EQUITY | ||||
REDEEMABLE NONCONTROLLING INTEREST | 0 | 0 | ||
Total Willis Towers Watson shareholders’ equity | 6,975 | 2,886 | ||
Noncontrolling interests | 0 | 0 | ||
Total equity | 6,975 | 2,886 | ||
TOTAL LIABILITIES AND EQUITY | 9,960 | 5,149 | ||
Other | Reportable Legal Entities | ||||
ASSETS | ||||
Cash and cash equivalents | 870 | 527 | $ 624 | $ 790 |
Fiduciary assets | 10,505 | 10,458 | ||
Accounts receivable, net | 2,073 | 1,251 | ||
Prepaid and other current assets | 324 | 194 | ||
Amounts due from group undertakings | 2,370 | 1,259 | ||
Total current assets | 16,142 | 13,689 | ||
Investments in subsidiaries | 0 | 0 | ||
Fixed assets, net | 805 | 505 | ||
Goodwill | 10,413 | 3,737 | ||
Other intangible assets, net | 4,368 | 1,115 | ||
Pension benefits assets | 488 | 623 | ||
Other non-current assets | 310 | 288 | ||
Non-current amounts due from group undertakings | 0 | 0 | ||
Total non-current assets | 16,384 | 6,268 | ||
TOTAL ASSETS | 32,526 | 19,957 | ||
LIABILITIES AND EQUITY | ||||
Fiduciary liabilities | 10,505 | 10,458 | ||
Deferred revenue and accrued expenses | 1,488 | 683 | ||
Short-term debt and current portion of long-term debt | 92 | 79 | ||
Other current liabilities | 684 | 534 | ||
Amounts due to group undertakings | 2,097 | 1,502 | ||
Total current liabilities | 14,866 | 13,256 | ||
Investments in subsidiaries | 0 | |||
Long-term debt | 169 | 0 | ||
Liability for pension benefits | 1,321 | 279 | ||
Deferred tax liabilities | 1,013 | 239 | ||
Provision for liabilities | 455 | 295 | ||
Other non-current liabilities | 483 | 497 | ||
Non-current amounts due to group undertakings | 4,973 | 785 | ||
Total non-current liabilities | 8,414 | 2,095 | ||
TOTAL LIABILITIES | 23,280 | 15,351 | ||
EQUITY | ||||
REDEEMABLE NONCONTROLLING INTEREST | 51 | 53 | ||
Total Willis Towers Watson shareholders’ equity | 9,077 | 4,422 | ||
Noncontrolling interests | 118 | 131 | ||
Total equity | 9,195 | 4,553 | ||
TOTAL LIABILITIES AND EQUITY | $ 32,526 | $ 19,957 |
X | ||||||||||
- Definition Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of short-term debt and current maturity of long-term debt and capital lease obligations due within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, with jurisdictional netting and classified as noncurrent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount for overfunded plans recognized in the balance sheet as a noncurrent asset associated with a defined benefit pension plan or other postretirement defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total investments in (A) an entity in which the entity has significant influence, but does not have control, (B) subsidiaries that are not required to be consolidated and are accounted for using the equity and or cost method, and (C) an entity in which the reporting entity shares control of the entity with another party or group. Includes long-term advances receivable from a party that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of obligation due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after unamortized (discount) premium and debt issuance costs of long-term debt classified as noncurrent and excluding amounts to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of noncurrent assets classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of liabilities classified as other, due within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of liabilities classified as other, due after one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition This represents the noncurrent liability for underfunded plans recognized in the balance sheet that is associated with the defined benefit pension plans and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition As of the reporting date, the aggregate carrying amount of all noncontrolling interests which are redeemable by the (parent) entity (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the (parent) entity. This item includes noncontrolling interest holder's ownership (or holders' ownership) regardless of the type of equity interest (common, preferred, other) including all potential organizational (legal) forms of the investee entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Deferred Revenue and Accrued Liabilities, Current No definition available.
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- Definition Due from Group Undertakings, Current No definition available.
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- Definition Due from Group Undertakings, Noncurrent No definition available.
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- Definition Due to Group Undertaking, Noncurrent No definition available.
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- Definition Due to Group Undertakings, Current No definition available.
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- Definition Fiduciary Assets, Current No definition available.
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- Definition Fiduciary Liabilities, Current No definition available.
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- Definition Liability from Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures No definition available.
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- Definition Provision For Liabilities No definition available.
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Financial Information for Issuer, Parent Guarantor, Other Guarantor Subsidiaries and Non-Guarantor Subsidiaries - Cash Flows (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Condensed Financial Statements, Captions [Line Items] | |||
NET CASH (USED IN)/FROM OPERATING ACTIVITIES | $ 920 | $ 243 | $ 477 |
CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES | |||
Additions to fixed assets and software for internal use | (218) | (146) | (113) |
Capitalized software costs | (85) | ||
Acquisitions of operations, net of cash acquired | 476 | (857) | (245) |
Net (cash paid)/proceeds from sale of operations | (1) | 44 | 86 |
Other, net | 23 | 16 | (4) |
Proceeds from intercompany investing activities | 0 | 0 | 0 |
Repayments of intercompany investing activities | 0 | 0 | 0 |
Reduction in investment in subsidiaries | 0 | ||
Additional investment in subsidiaries | 0 | 0 | 0 |
Net cash from/(used in) investing activities | 195 | (943) | (276) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Net (payments)/borrowings on revolving credit facility | (237) | 469 | 0 |
Senior notes issued | 1,606 | 0 | 0 |
Proceeds from issuance of other debt | 404 | 592 | 0 |
Repayments of debt | (1,901) | (166) | (15) |
Debt issuance costs | (14) | (5) | (3) |
Repurchase of shares | (396) | (82) | (213) |
Proceeds from issuance of shares and excess tax benefit | 63 | 131 | 139 |
Payments of deferred and contingent consideration related to acquisitions | (67) | 0 | 0 |
Dividends paid | (199) | (277) | (210) |
Acquisitions of and dividends paid to noncontrolling interests | (21) | (21) | (21) |
Proceeds from intercompany financing activities | 0 | 0 | 0 |
Repayments of intercompany financing activities | 0 | 0 | 0 |
Net cash provided by (used in) financing activities | (762) | 641 | (323) |
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | 353 | (59) | (122) |
Effect of exchange rate changes on cash and cash equivalents | (15) | (44) | (39) |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 532 | 635 | 796 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 870 | 532 | 635 |
Consolidating adjustments | Issuer | |||
Condensed Financial Statements, Captions [Line Items] | |||
NET CASH (USED IN)/FROM OPERATING ACTIVITIES | (621) | (150) | (662) |
CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES | |||
Additions to fixed assets and software for internal use | 94 | 0 | 1 |
Capitalized software costs | 0 | ||
Acquisitions of operations, net of cash acquired | 0 | 0 | 0 |
Net (cash paid)/proceeds from sale of operations | 3 | 0 | 0 |
Other, net | (30) | 0 | (1) |
Proceeds from intercompany investing activities | (193) | (608) | (916) |
Repayments of intercompany investing activities | 8,635 | 1,009 | 230 |
Reduction in investment in subsidiaries | (8,200) | ||
Additional investment in subsidiaries | 8,200 | 598 | 31 |
Net cash from/(used in) investing activities | 8,509 | 999 | (655) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Net (payments)/borrowings on revolving credit facility | 0 | 0 | |
Senior notes issued | 0 | ||
Proceeds from issuance of other debt | 0 | 0 | |
Repayments of debt | 0 | 0 | 0 |
Debt issuance costs | 0 | 0 | 0 |
Repurchase of shares | 0 | 0 | 0 |
Proceeds from issuance of shares and excess tax benefit | 0 | (598) | (31) |
Payments of deferred and contingent consideration related to acquisitions | 0 | ||
Dividends paid | 554 | 150 | 662 |
Acquisitions of and dividends paid to noncontrolling interests | 0 | 0 | 0 |
Proceeds from intercompany financing activities | (8,635) | (1,009) | (230) |
Repayments of intercompany financing activities | 193 | 608 | 916 |
Net cash provided by (used in) financing activities | (7,888) | (849) | 1,317 |
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | 0 | 0 | 0 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | 0 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 0 | 0 | 0 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 0 | 0 | 0 |
Willis Towers Watson | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
NET CASH (USED IN)/FROM OPERATING ACTIVITIES | (20) | (10) | (35) |
CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES | |||
Additions to fixed assets and software for internal use | 0 | 0 | 0 |
Capitalized software costs | 0 | ||
Acquisitions of operations, net of cash acquired | 0 | 0 | 0 |
Net (cash paid)/proceeds from sale of operations | 0 | 0 | 0 |
Other, net | 0 | 0 | 0 |
Proceeds from intercompany investing activities | 0 | 321 | 361 |
Repayments of intercompany investing activities | (3,751) | (82) | 0 |
Reduction in investment in subsidiaries | 4,600 | ||
Additional investment in subsidiaries | 0 | 0 | (31) |
Net cash from/(used in) investing activities | 849 | 239 | 330 |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Net (payments)/borrowings on revolving credit facility | 0 | 0 | 0 |
Senior notes issued | 0 | ||
Proceeds from issuance of other debt | 0 | 0 | 0 |
Repayments of debt | (300) | 0 | 0 |
Debt issuance costs | 0 | 0 | 0 |
Repurchase of shares | (396) | (82) | (213) |
Proceeds from issuance of shares and excess tax benefit | 63 | 124 | 134 |
Payments of deferred and contingent consideration related to acquisitions | 0 | ||
Dividends paid | (199) | (277) | (210) |
Acquisitions of and dividends paid to noncontrolling interests | 0 | 0 | 0 |
Proceeds from intercompany financing activities | 0 | 0 | 0 |
Repayments of intercompany financing activities | 0 | 0 | 0 |
Net cash provided by (used in) financing activities | (832) | (235) | (289) |
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (3) | (6) | 6 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | 0 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 3 | 9 | 3 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 0 | 3 | 9 |
The Other Guarantors | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
NET CASH (USED IN)/FROM OPERATING ACTIVITIES | 308 | 593 | 781 |
CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES | |||
Additions to fixed assets and software for internal use | (91) | (18) | (19) |
Capitalized software costs | 0 | ||
Acquisitions of operations, net of cash acquired | 0 | 0 | 0 |
Net (cash paid)/proceeds from sale of operations | 0 | 0 | 0 |
Other, net | 33 | 0 | 1 |
Proceeds from intercompany investing activities | 108 | 136 | 120 |
Repayments of intercompany investing activities | (3,513) | 0 | (180) |
Reduction in investment in subsidiaries | 3,600 | ||
Additional investment in subsidiaries | (4,600) | (420) | 0 |
Net cash from/(used in) investing activities | (4,463) | (302) | (78) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Net (payments)/borrowings on revolving credit facility | 0 | 0 | |
Senior notes issued | 0 | ||
Proceeds from issuance of other debt | 0 | 0 | |
Repayments of debt | 0 | (149) | 0 |
Debt issuance costs | 0 | 0 | 0 |
Repurchase of shares | 0 | 0 | 0 |
Proceeds from issuance of shares and excess tax benefit | 0 | 0 | 0 |
Payments of deferred and contingent consideration related to acquisitions | 0 | ||
Dividends paid | (162) | 0 | (155) |
Acquisitions of and dividends paid to noncontrolling interests | 0 | 0 | (4) |
Proceeds from intercompany financing activities | 4,368 | 181 | 50 |
Repayments of intercompany financing activities | (53) | (323) | (595) |
Net cash provided by (used in) financing activities | 4,153 | (291) | (704) |
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (2) | 0 | (1) |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | 0 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 2 | 2 | 3 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 0 | 2 | 2 |
The Issuer | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
NET CASH (USED IN)/FROM OPERATING ACTIVITIES | 152 | 33 | 181 |
CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES | |||
Additions to fixed assets and software for internal use | 0 | 0 | 0 |
Capitalized software costs | 0 | ||
Acquisitions of operations, net of cash acquired | 0 | 0 | 0 |
Net (cash paid)/proceeds from sale of operations | 0 | 0 | 0 |
Other, net | 0 | 0 | 0 |
Proceeds from intercompany investing activities | 55 | 0 | 0 |
Repayments of intercompany investing activities | (602) | (746) | (4) |
Reduction in investment in subsidiaries | 0 | ||
Additional investment in subsidiaries | 0 | (178) | 0 |
Net cash from/(used in) investing activities | (547) | (924) | (4) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Net (payments)/borrowings on revolving credit facility | (237) | 469 | |
Senior notes issued | 1,606 | ||
Proceeds from issuance of other debt | 400 | 592 | |
Repayments of debt | (1,037) | (16) | (15) |
Debt issuance costs | (14) | (5) | 0 |
Repurchase of shares | 0 | 0 | 0 |
Proceeds from issuance of shares and excess tax benefit | 0 | 0 | 0 |
Payments of deferred and contingent consideration related to acquisitions | 0 | ||
Dividends paid | (302) | 0 | (155) |
Acquisitions of and dividends paid to noncontrolling interests | 0 | 0 | 0 |
Proceeds from intercompany financing activities | 1 | 0 | 0 |
Repayments of intercompany financing activities | (22) | (149) | (7) |
Net cash provided by (used in) financing activities | 395 | 891 | (177) |
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | 0 | 0 | 0 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | 0 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 0 | 0 | 0 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 0 | 0 | 0 |
Other | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
NET CASH (USED IN)/FROM OPERATING ACTIVITIES | 1,101 | (223) | 212 |
CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES | |||
Additions to fixed assets and software for internal use | (221) | (128) | (95) |
Capitalized software costs | (85) | ||
Acquisitions of operations, net of cash acquired | 476 | (857) | (245) |
Net (cash paid)/proceeds from sale of operations | (4) | 44 | 86 |
Other, net | 20 | 16 | (4) |
Proceeds from intercompany investing activities | 30 | 151 | 435 |
Repayments of intercompany investing activities | (769) | (181) | (46) |
Reduction in investment in subsidiaries | 0 | ||
Additional investment in subsidiaries | (3,600) | 0 | 0 |
Net cash from/(used in) investing activities | (4,153) | (955) | 131 |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Net (payments)/borrowings on revolving credit facility | 0 | 0 | |
Senior notes issued | 0 | ||
Proceeds from issuance of other debt | 4 | 0 | |
Repayments of debt | (564) | (1) | 0 |
Debt issuance costs | 0 | 0 | (3) |
Repurchase of shares | 0 | 0 | 0 |
Proceeds from issuance of shares and excess tax benefit | 0 | 605 | 36 |
Payments of deferred and contingent consideration related to acquisitions | (67) | ||
Dividends paid | (90) | (150) | (352) |
Acquisitions of and dividends paid to noncontrolling interests | (21) | (21) | (17) |
Proceeds from intercompany financing activities | 4,266 | 828 | 180 |
Repayments of intercompany financing activities | (118) | (136) | (314) |
Net cash provided by (used in) financing activities | 3,410 | 1,125 | (470) |
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | 358 | (53) | (127) |
Effect of exchange rate changes on cash and cash equivalents | (15) | (44) | (39) |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 527 | 624 | 790 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ 870 | $ 527 | $ 624 |
X | ||||||||||
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Amount of increase (decrease) from the effect of exchange rate changes on cash and cash equivalent balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of cash (inflow) outflow from investing activities classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of cash outflow in the form of ordinary dividends to common shareholders of the parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash outflow associated with the development or modification of software programs or applications for internal use (that is, not to be sold, leased or otherwise marketed to others) that qualify for capitalization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash inflow associated with the amount received from the sale of a business segment or subsidiary or sale of an entity that is related to it but not strictly controlled during the period (for example, an unconsolidated subsidiary, affiliate, joint venture or equity method investment). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of cash inflow from issuance of long-term debt classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash inflow from a borrowing with the highest claim on the assets of the entity in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of cash inflow (outflow) from (to) a noncontrolling interest. Excludes dividends paid to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The net cash inflow or cash outflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with either short term or long term maturity that is collateralized (backed by pledge, mortgage or other lien in the entity's assets). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Decrease in Investment in Subsidiaries No definition available.
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- Definition Increase in Investment in Subsidiaries No definition available.
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- Definition The financing cash outflow related to payments for deferred or contingent consideration related to the acquisition of a business No definition available.
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- Definition Proceeds from Intercompany Financing Activities No definition available.
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- Definition Proceeds from Intercompany Investing Activities No definition available.
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- Definition Repayments of Intercompany Financing Activities No definition available.
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- Definition Repayments of Intercompany Investing Activities No definition available.
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