View Filing Data

291

287

Net income, redeemable

^[2]

293

(85)

Issuance of shares under employee stock compensation plans

^[1]

(1)

Issue of shares under employee stock compensation plans (in shares)

289

Equity, ending balance at Mar. 31, 2019

(7)

10,214

10,630

1,439

(3)

(1,974)

^[1]

10,092

122

Equity, ending balance (in shares) at Mar. 31, 2019

129,211

Temporary equity, ending balance at Mar. 31, 2019

^[2]

Equity, beginning balance at Dec. 31, 2018

9,971

10,615

1,201

(3)

(1,961)

^[1]

9,852

119

Equity, beginning balance (Accounting Standards Update 2018-02 [Member]) at Dec. 31, 2018

$ 36

$ (36)

Equity, beginning balance (in shares) at Dec. 31, 2018

128,922

Temporary equity, beginning balance at Dec. 31, 2018

^[2]

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Equity, ending balance at Jun. 30, 2019

442

10,204

10,644

1,442

(3)

(1,993)

^[1]

10,090

114

Equity, ending balance (in shares) at Jun. 30, 2019

128,983

Temporary equity, ending balance at Jun. 30, 2019

^[2]

Equity, beginning balance at Mar. 31, 2019

10,214

10,630

1,439

(3)

(1,974)

^[1]

10,092

122

Equity, beginning balance (in shares) at Mar. 31, 2019

129,211

Temporary equity, beginning balance at Mar. 31, 2019

^[2]

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Shares repurchased

(51)

Shares repurchased (in shares)

(280)

147

138

Net income, redeemable

^[2]

149

Dividends attributable to non-controlling interests

(84)

(19)

(2)

^[2]

Issuance of shares under employee stock compensation plans

(17)

(19)

^[1]

(19)

Issue of shares under employee stock compensation plans (in shares)

Foreign currency translation

(1)

Equity, ending balance at Jun. 30, 2019

10,204

10,644

1,442

(3)

(1,993)

^[1]

10,090

114

Equity, ending balance (in shares) at Jun. 30, 2019

128,983

Temporary equity, ending balance at Jun. 30, 2019

^[2]

$ 28

Equity, beginning balance at Dec. 31, 2019

10,369

10,687

1,792

(3)

(2,227)

10,249

120

Equity, beginning balance (in shares) at Dec. 31, 2019

128,690

Increase (Decrease) in Stockholders' Equity [Roll Forward]

313

305

Dividends attributable to non-controlling interests

(88)

(1)

Issuance of shares under employee stock compensation plans

(220)

(219)

(1)

Issue of shares under employee stock compensation plans (in shares)

Foreign currency translation

Equity, ending balance at Mar. 31, 2020

10,389

10,703

2,009

(3)

(2,446)

10,263

126

Equity, ending balance (in shares) at Mar. 31, 2020

128,726

Equity, beginning balance at Dec. 31, 2019

10,369

10,687

1,792

(3)

(2,227)

10,249

120

Equity, beginning balance (in shares) at Dec. 31, 2019

128,690

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Equity, ending balance at Jun. 30, 2020

415

10,456

10,713

2,015

(3)

(2,390)

10,335

121

Equity, ending balance (in shares) at Jun. 30, 2020

128,763

Equity, beginning balance at Mar. 31, 2020

10,389

10,703

2,009

(3)

(2,446)

10,263

126

Equity, beginning balance (in shares) at Mar. 31, 2020

128,726

Increase (Decrease) in Stockholders' Equity [Roll Forward]

102

102

Dividends attributable to non-controlling interests

(88)

(12)

Issuance of shares under employee stock compensation plans

Issue of shares under employee stock compensation plans (in shares)

Divestiture of non-controlling interests

(1)

Other

(3)

Foreign currency translation

(1)

Equity, ending balance at Jun. 30, 2020

$ 10,456

$ 10,713

$ 2,015

$ (3)

$ (2,390)

$ 10,335

$ 121

Equity, ending balance (in shares) at Jun. 30, 2020

128,763

[1]	Accumulated other comprehensive loss, net of tax (‘AOCL’).
[2]	The non-controlling interest was related to Max Matthiessen Holding AB. The remaining amount was purchased during the three months ended December 31, 2019.

Condensed Consolidated Statements of Changes in Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019
Statement Of Stockholders Equity [Abstract]
Dividends declared per share	$ 0.68	$ 0.68	$ 0.65	$ 0.65

Nature of Operations

6 Months Ended

Jun. 30, 2020

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Nature of Operations

Note 1 — Nature of Operations

Willis Towers Watson plc is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. The Company has more than 45,000 employees and services clients in more than 140 countries.

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 risk management services include strategic risk consulting (including providing actuarial analysis), a variety of due diligence services, the provision of practical on-site risk control services (such as health and safety and property loss control consulting), and analytical and advisory services (such as hazard modeling and reinsurance optimization studies). We also assist our clients with planning for addressing incidents or crises when they occur. These services include contingency planning, security audits and product tampering plans.

We help our clients enhance business performance by delivering consulting services, technology and solutions that optimize benefits and cultivate talent. Our services and solutions encompass such areas as employee benefits, total rewards, talent and benefits outsourcing. In addition, we provide investment advice to help our clients develop disciplined and efficient strategies to meet their investment goals and expand the power of capital.

As an insurance broker, we act as an intermediary between our clients and insurance carriers by advising on their risk management requirements, helping them to determine the best means of managing risk and negotiating and placing insurance with insurance carriers through our global distribution network.

We operate a private Medicare marketplace in the U.S. through which, along with our active employee marketplace, we help our clients move to a more sustainable economic model by capping and controlling the costs associated with healthcare benefits. Additionally, with the acquisition of TRANZACT in July 2019 (see Note 3 – Acquisitions and Divestitures), we also provide direct-to-consumer sales of Medicare coverage.

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.

Proposed Combination with Aon plc

On March 9, 2020, WTW and Aon plc (‘Aon’) issued an announcement disclosing that the respective boards of directors of WTW and Aon had reached agreement on the terms of a recommended acquisition of WTW by Aon. Under the terms of the agreement each WTW shareholder will receive 1.08 Aon ordinary shares for each WTW ordinary share. At the time of the announcement, it was estimated that upon completion of the combination, existing Aon shareholders will own approximately 63% and existing WTW shareholders will own approximately 37% of the combined company on a fully diluted basis.

The transaction is subject to the approval of the shareholders of both WTW and Aon, as well as other customary closing conditions, including required regulatory approvals. Meetings of the respective shareholders will be held on August 26, 2020. We are required to be in substantial compliance with the Request for Additional Information and Documentary Materials issued by the Antitrust Division of the U.S. Department of Justice on June 29, 2020, referred to as a Second Request. In addition, there are numerous other regulatory approvals and other closing conditions that need to be met. The parties expect the transaction to close in the first half of 2021, subject to satisfaction of these conditions.

Basis of Presentation and Recent Accounting Pronouncements

6 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

Basis of Presentation and Recent Accounting Pronouncements

Note 2 — Basis of Presentation and Recent Accounting Pronouncements

Basis of Presentation

The accompanying unaudited quarterly condensed consolidated financial statements of Willis Towers Watson and our subsidiaries are presented in accordance with the rules and regulations of the SEC for quarterly reports on Form 10-Q and therefore do not include all of the information and footnotes required by U.S. GAAP. In the opinion of management, these condensed consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, which are necessary for a fair presentation of the condensed consolidated financial statements and results for the interim periods. All intercompany accounts and transactions have been eliminated in consolidation. The condensed consolidated financial statements should be read together with the Company’s Annual Report on Form 10-K, filed with the SEC on February 26, 2020, and may be accessed via EDGAR on the SEC’s web site at www.sec.gov.

The results of operations for the three and six months ended June 30, 2020 are not necessarily indicative of the results that can be expected for the entire year. The Company experiences seasonal fluctuations of its revenue. Revenue is typically higher during the Company’s first and fourth quarters due primarily to the timing of broking-related activities. The results reflect certain estimates and assumptions made by management, including those estimates used in calculating acquisition consideration and fair value of tangible and intangible assets and liabilities, professional liability claims, estimated bonuses, valuation of billed and unbilled receivables, and anticipated tax liabilities that affect the amounts reported in the condensed consolidated financial statements and related notes.

Risks and Uncertainties Related to the COVID-19 Pandemic

The COVID-19 pandemic has had an adverse impact on global commercial activity, including the global supply chain, and has contributed to significant volatility in the financial markets including, among other effects, occasional declines in the equity markets, changes in interest rates and reduced liquidity on a global basis. In light of the effects on our own business operations and those of our clients, suppliers and other third parties with whom we interact, the Company has considered the impact of COVID-19 on our business. This analysis takes into account our business resilience and continuity plans, financial modeling and stress testing of liquidity and financial resources.

The analysis concluded that the COVID-19 pandemic did not have a material adverse impact to our financial results for the first quarter of 2020; however, we expected that the impact of COVID-19 on general economic activity could negatively impact our revenue and operating results for the remainder of 2020. During the second quarter of 2020, the COVID-19 pandemic had a negative impact on revenue growth, particularly in our businesses that are discretionary in nature, but otherwise it generally had no material impact on our overall results. Some of our discretionary, project-based businesses saw a reduction in demand, and potential negative impacts on our revenue and operating results may lag behind the developments thus far related to the COVID-19 pandemic. Also, the increased frequency and severity of coverage disputes between our clients and (re)insurers arising out of the pandemic could increase our professional liability risk. We will continue to monitor the situation and assess possible implications to our business and our stakeholders. The extent to which COVID-19 impacts our business and financial position will depend on future developments, which are difficult to predict. These future developments may include the severity and scope of the COVID-19 outbreak, which may unexpectedly change or worsen, and the types and duration of measures imposed by governmental authorities to contain the virus or address its impact. We continue to expect that the COVID-19 pandemic will negatively impact our revenue and operating results for the remainder of 2020 and potentially beyond.

The Company has considered multiple scenarios, with both positive and negative inputs, as part of the significant estimates and assumptions that are inherent in our financial statements. These inputs are based on trends in client behavior and the economic environment throughout the first half of 2020 as COVID-19 has moved throughout the geographies in which we operate. These estimates and assumptions include the collectability of billed and unbilled receivables, the estimation of revenue, and the fair value of our reporting units, tangible and intangible assets and contingent consideration. With regard to collectability, the Company believes it may face atypical delays in client payments going forward. In addition, we believe that the demand for certain discretionary lines of business has decreased, and that such decrease will impact our financial results in succeeding periods. Non-discretionary lines of business may also be adversely affected, for example because reduced economic activity or disruption in insurance markets reduces demand for or the extent of insurance coverage. We believe that these trends and uncertainties are comparable to those faced by other registrants as a result of the pandemic.

CARES Act

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (‘CARES’) Act was enacted in the U.S. to provide relief to companies in the midst of the COVID-19 pandemic and to stimulate the economy. The assistance includes temporary tax relief and government loans, grants and investments for entities in affected industries.

With regard to the income tax provisions of the CARES Act, the Company has reviewed its eligibility requirements, including if and how they apply and how they will affect the Company, particularly provisions that (i) eliminate the taxable income limit for certain net operating losses (‘NOLs’) and allow businesses to carry back NOLs arising in 2018, 2019 and 2020 to the five prior tax years; (ii) generally relaxed the business interest limitation under section 163(j) from 30 percent to 50 percent; and (iii) fix the ‘retail glitch’ for qualified improvement property.

During the three months ended June 30, 2020, the Company elected to use the section 163(j) 50 percent business interest limitation for tax years 2019 and 2020. Utilizing this temporary provision, the Company accelerated a cash tax benefit in 2020 of approximately $40 million for tax years 2019 and 2020. Moreover, the Company will recognize tax expense of approximately $25 million and $22 million for the 2019 and 2020 tax years, respectively, primarily related to an incremental Base Erosion and Anti-Abuse Tax (‘BEAT’). During the quarter, the Company recorded tax expense of $35 million relating to the 2019 and 2020 tax years, and expects to recognize the remaining $12 million BEAT expense during the remainder of 2020.

Additionally, the CARES Act offers an employee retention credit to encourage employers to maintain headcounts even if employees cannot report to work because of issues related to COVID-19 as well as a temporary provision allowing companies to defer remitting the employer share of some payroll taxes to the government. The payroll tax provisions of the CARES Act were not material for the six months ended June 30, 2020 and are currently not expected to be material for calendar year 2020.

Recent Accounting Pronouncements

Not Yet Adopted

In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes, which clarifies and amends existing guidance, including removing certain exceptions to the general principles of accounting for income taxes. This ASU becomes effective for the Company on January 1, 2021. Some of the changes must be applied on a retrospective or modified retrospective basis while others must be applied on a prospective basis. Early adoption is permitted. The Company does not plan to adopt this ASU early and is assessing the expected impact on our condensed consolidated financial statements.

Adopted

In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses: Measurement of Credit Losses on Financial Instruments, which amended the guidance on the impairment of financial instruments. The ASU added an impairment model (known as the current expected credit loss (‘CECL’) model) that is based on expected losses rather than incurred losses. Under the new guidance, an entity recognizes as an allowance its estimate of lifetime expected credit losses on assets measured at amortized cost, which is intended to result in more timely recognition of such losses. The ASU was also intended to reduce the complexity of U.S. GAAP by decreasing the number of credit impairment models that entities use to account for debt instruments. Further, the ASU made targeted changes to the impairment model for available-for-sale debt securities. Additional ASUs were subsequently issued which provided amended and additional guidance for the implementation of ASU No. 2016-13. All related guidance has been codified into, and is now known as, ASC 326, Financial Instruments—Credit Losses (‘ASC 326’). ASC 326 became effective for the Company on January 1, 2020, at which time we adopted it. This ASU did not have a material impact on our condensed 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, previous U.S. GAAP required 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 is 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 would 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 became effective for the Company on January 1, 2020, at which time we adopted it. The amendments in this ASU are applied on a prospective basis. There is no immediate impact to our condensed consolidated financial statements upon adopting this ASU, until such time as the next goodwill impairment test is performed (October 1, 2020, or sooner should circumstances warrant it). The most recent Step 1 goodwill impairment test resulted in fair values in excess of carrying values for all reporting units at October 1, 2019.

In August 2018, the FASB issued ASU 2018-13, Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement as part of its disclosure framework project. The focus of this project is to improve the effectiveness of disclosures in the notes to the financial statements by facilitating clear communication of the information required by U.S. GAAP that is most important to users of an entity’s financial statements. This ASU removes certain disclosure requirements and adds or modifies other requirements. This ASU was effective for the Company on January 1, 2020, at which time we adopted it. Certain provisions of the ASU were required to be adopted retrospectively, while others were required to be adopted prospectively. This ASU did not have a material impact on the notes to our condensed consolidated financial statements.

In March 2020, the SEC issued a final rule that amends the disclosure requirements related to certain registered securities under SEC Regulation S-X, Rules 3-10 and 3-16 which currently require separate financial statements for subsidiary issuers and guarantors of registered debt securities unless certain exceptions are met, and affiliates that collateralize registered securities offerings if the affiliates’ securities are a substantial portion of the collateral. The final rule is generally effective for filings on or after January 4, 2021, however early application is permitted. The most pertinent portions of the final rule that are currently applicable to the Company include: (i) replacing the previous requirement under Rule 3-10 to provide condensed consolidating financial information in the registrant’s financial statements with a requirement to provide alternative financial disclosures (which include summarized financial information of the parent and any issuers and guarantors, as well as other qualitative disclosures) in either the registrant’s Management’s Discussion & Analysis section or its financial statements; and, (ii) reducing the periods for which summarized financial information is required to the most recent annual period and year-to-date interim period. The Company elected to early-adopt the provisions of the final rule during the three months ended March 31, 2020. Further, the new reduced quantitative disclosures and accompanying qualitative disclosures as required by this final rule are in Item II, Management’s Discussion and Analysis of Financial Condition and Results of Operations on this Form 10-Q.

In March 2020, the FASB issued ASU No. 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for accounting for contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. This ASU

became effective for the Company on March 12, 2020. The Company may apply the changes relating to contracts from January 1, 2020 or from a later date. The Company has made no contract modifications thus far to transition to a different reference rate, however it will consider this guidance as future modifications are made.

Acquisitions and Divestitures

6 Months Ended

Jun. 30, 2020

Business Combinations [Abstract]

Acquisitions and Divestitures

Note 3 — Acquisitions and Divestitures

TRANZACT Acquisition

On July 30, 2019, the Company acquired TRANZACT, a U.S.-based provider of comprehensive, direct-to-consumer sales and marketing solutions for leading insurance carriers in the U.S. TRANZACT leverages digital, data and direct marketing solutions to deliver qualified leads, fully-provisioned sales and robust customer management systems to brands seeking to acquire and manage large numbers of consumers. Pursuant to the terms of the acquisition agreement, subject to certain adjustments, the consideration consisted of $1.3 billion paid in cash at closing. Additional contingent consideration in the form of a potential earn-out of up to $17 million is to be paid in cash in 2021 based on the achievement of certain financial targets. The acquisition was initially funded in part with a $1.1 billion one-year term loan, with the remainder being funded from the Company’s existing revolving credit facility. TRANZACT operates as part of our Benefits Delivery and Administration segment and enhances the Company’s existing Medicare broking offering, while also adding significant direct-to-consumer marketing experience.

A summary of the preliminary fair values of the identifiable assets acquired, and liabilities assumed, of TRANZACT at July 30, 2019 are summarized in the following table.

Cash and cash equivalents	$	7
Restricted cash		2
Accounts receivable, net		3
Renewal commissions receivable, current ⁽ⁱ⁾		36
Prepaid and other current assets		22
Renewal commissions receivable, non-current ⁽ⁱ⁾		130
Fixed assets		9
Intangible assets		646
Goodwill		722
Right-of-use assets		19
Other non-current assets		2
Collateralized facility		(91	)
Other current liabilities		(55	)
Deferred tax liabilities, net		(104	)
Lease liabilities		(19	)
Net assets acquired	$	1,329

______________

(i)

Renewal commissions receivables arise from direct-to-consumer Medicare broking sales. Cash collections for these receivables are expected to occur over a period of several years. Due to the provisions of ASC 606, these receivables are not discounted for a significant financing component when initially recognized. However, as a result of recognizing the fair value of these receivables in accordance with ASC 805, Business Combinations, these receivables have now been present-valued at the acquisition date. Prior to this fair value adjustment, the carrying value of these receivables was $231 million. The adjusted values of these acquired renewal commissions receivables will be included in prepaid and other current assets or other non-current assets, as appropriate, on the condensed consolidated balance sheets. The acquired renewal commissions receivables will be accounted for prospectively using the cost-recovery method in which future cash receipts will initially be applied against the acquisition date fair value until the value reaches zero. Any cash received in excess of the fair value determined at acquisition will be recorded to earnings when it is received at a future date.

Intangible assets consist primarily of $612 million of customer relationships, with an expected life of 15.4 years. Additional intangibles acquired consist of domain names.

Goodwill is calculated as the difference between the aggregate consideration and the acquisition date fair value of the net assets acquired, including the intangible assets acquired, and represents the value of TRANZACT’s assembled workforce and the future economic benefits that we expect to achieve as a result of the acquisition. None of the goodwill recognized on the transaction is tax deductible, however there is tax deductible goodwill that will be carried forward from previous acquisitions by TRANZACT.

During the six months ended June 30, 2020, purchase price allocation adjustments were made primarily to adjust the deferred tax liabilities related to the deductibility of goodwill. The purchase price allocation as of the acquisition date related to deferred tax assets and deferred tax liabilities was not yet complete as of June 30, 2020.

Revenue related to TRANZACT was $87 million and $182 million during the three and six months ended June 30, 2020, respectively.

Other Acquisitions

Other acquisitions were completed during the six months ended June 30, 2020 for combined cash payments of $72 million and contingent consideration with an estimated fair value of $2 million.

Max Matthiessen Divestiture

In May 2020, the Company entered into an agreement to sell its Swedish majority-owned subsidiary MM Holding AB (‘Max Matthiessen’) for total consideration of SEK 2.3 billion ($248 million) plus certain other adjustments. Of the total consideration, the Company will be financing a SEK 600 million ($64 million) note repayable by the purchaser. The note has no fixed term but will be repayable subject to certain terms and conditions and will bear an interest rate that could range from 5% to 10%, increasing the longer the note remains outstanding. The divestiture is expected to close during the third quarter of 2020, and the Company has entered into certain foreign currency transactions to hedge the consideration to be received against fluctuations in foreign exchange rates (see Note 8 — Derivative Financial Instruments).

Revenue

6 Months Ended

Jun. 30, 2020

Revenue From Contract With Customer [Abstract]

Note 4 — Revenue

Disaggregation of Revenue

The Company reports revenue by segment in Note 5 — Segment Information. The following tables present revenue by service offering and segment, as well as reconciliations to total revenue for the three and six months ended June 30, 2020 and 2019. Along with reimbursable expenses and other, total revenue by service offering represents our revenue from customer contracts.

	Three Months Ended June 30,
	HCB				CRB				IRR				BDA				Corporate ⁽ⁱ⁾				Total
	2020		2019		2020		2019		2020		2019		2020		2019		2020		2019		2020		2019
Broking	$	71	$	64	$	637	$	633	$	258	$	249	$	90	$	9	$	—	$	—	$	1,056	$	955
Consulting		531		571		40		36		95		100		—		—		2		3		668		710
Outsourced administration		122		101		16		13		3		3		119		117		—		—		260		234
Other		41		56		1		1		55		52		—		—		1		1		98		110
Total revenue by service offering		765		792		694		683		411		404		209		126		3		4		2,082		2,009
Reimbursable expenses and other ⁽ⁱ⁾		11		15		1		—		1		2		2		2		4		2		19		21
Total revenue from customer contracts	$	776	$	807	$	695	$	683	$	412	$	406	$	211	$	128	$	7	$	6	$	2,101	$	2,030
Interest and other income ⁽ⁱⁱ⁾		2		5		7		7		2		5		—		—		1		1		12		18
Total revenue	$	778	$	812	$	702	$	690	$	414	$	411	$	211	$	128	$	8	$	7	$	2,113	$	2,048

	Six Months Ended June 30,
	HCB				CRB				IRR				BDA				Corporate ⁽ⁱ⁾				Total
	2020		2019		2020		2019		2020		2019		2020		2019		2020		2019		2020		2019
Broking	$	154	$	137	$	1,285	$	1,293	$	691	$	654	$	188	$	12	$	—	$	—	$	2,318	$	2,096
Consulting		1,113		1,151		87		67		188		214		—		—		4		6		1,392		1,438
Outsourced administration		250		224		41		40		6		5		252		249		—		—		549		518
Other		88		103		2		2		138		110		—		—		2		2		230		217
Total revenue by service offering		1,605		1,615		1,415		1,402		1,023		983		440		261		6		8		4,489		4,269
Reimbursable expenses and other ⁽ⁱ⁾		26		29		1		—		4		4		5		5		10		9		46		47
Total revenue from customer contracts	$	1,631	$	1,644	$	1,416	$	1,402	$	1,027	$	987	$	445	$	266	$	16	$	17	$	4,535	$	4,316
Interest and other income ⁽ⁱⁱ⁾		12		11		25		16		5		15		—		—		2		2		44		44
Total revenue	$	1,643	$	1,655	$	1,441	$	1,418	$	1,032	$	1,002	$	445	$	266	$	18	$	19	$	4,579	$	4,360

______________

(i)	Reimbursable expenses and other, as well as Corporate revenue, are excluded from segment revenue, but included in total revenue on the condensed consolidated statements of comprehensive income.

(ii)	Interest and other income is included in segment revenue and total revenue, however it has been presented separately in the above tables because it does not arise directly from contracts with customers.

Individual revenue streams aggregating to approximately 5% of total revenue from customer contracts for the three and six months ended June 30, 2020 and 2019 have been included within the Other line in the tables above.

The following tables present revenue by the geography where our work is performed for the three and six months ended June 30, 2020 and 2019. Reconciliations to total revenue on our condensed consolidated statements of comprehensive income and to segment revenue are shown in the tables above.

	Three Months Ended June 30,
	HCB				CRB				IRR				BDA				Corporate				Total
	2020		2019		2020		2019		2020		2019		2020		2019		2020		2019		2020		2019
North America	$	462	$	478	$	296	$	274	$	117	$	117	$	207	$	126	$	2	$	4	$	1,084	$	999
Great Britain		117		120		160		172		207		196		—		—		—		—		484		488
Western Europe		119		124		127		128		49		51		—		—		1		—		296		303
International		67		70		111		109		38		40		2		—		—		—		218		219
Total revenue by geography	$	765	$	792	$	694	$	683	$	411	$	404	$	209	$	126	$	3	$	4	$	2,082	$	2,009

	Six Months Ended June 30,
	HCB				CRB				IRR				BDA				Corporate				Total
	2020		2019		2020		2019		2020		2019		2020		2019		2020		2019		2020		2019
North America	$	938	$	949	$	529	$	494	$	287	$	281	$	436	$	261	$	4	$	8	$	2,194	$	1,993
Great Britain		243		238		297		314		528		496		—		—		—		—		1,068		1,048
Western Europe		275		279		371		367		125		120		—		—		2		—		773		766
International		149		149		218		227		83		86		4		—		—		—		454		462
Total revenue by geography	$	1,605	$	1,615	$	1,415	$	1,402	$	1,023	$	983	$	440	$	261	$	6	$	8	$	4,489	$	4,269

Contract Balances

The Company reports accounts receivable, net on the condensed consolidated balance sheet, which includes billed and unbilled receivables and current contract assets. In addition to accounts receivable, net, the Company had the following non-current contract assets and deferred revenue balances at June 30, 2020 and December 31, 2019:

	June 30, 2020		December 31, 2019
Billed receivables, net of allowance for doubtful accounts of $57 million and $37 million	$	1,744	$	1,831
Unbilled receivables		452		434
Current contract assets		234		356
Accounts receivable, net	$	2,430	$	2,621
Non-current accounts receivable, net	$	33	$	30
Non-current contract assets	$	172	$	105
Deferred revenue	$	558	$	538

During the three and six months ended June 30, 2020, revenue of $130 million and $402 million, respectively, was recognized that was reflected as deferred revenue at December 31, 2019. During the three months ended June 30, 2020, revenue of $254 million was recognized that was reflected as deferred revenue at March 31, 2020.

During the three and six months ended June 30, 2020, the Company recognized revenue of $5 million and $14 million, respectively, related to performance obligations satisfied prior to 2020.

Performance Obligations

The Company has contracts for which performance obligations have not been satisfied as of June 30, 2020 or have been partially satisfied as of this date. The following table shows the expected timing for the satisfaction of the remaining performance obligations. This table does not include contract renewals or variable consideration, which was excluded from the transaction prices in accordance with the guidance on constraining estimates of variable consideration.

In addition, in accordance with ASC 606, Revenue From Contracts With Customers (‘ASC 606’), the Company has elected not to disclose the remaining performance obligations when one or both of the following circumstances apply:

•

Performance obligations which are part of a contract that has an original expected duration of less than one year, and

•

Performance obligations satisfied in accordance with ASC 606-10-55-18 (‘right to invoice’).

		Remainder of 2020				2021				2022 onward				Total
Revenue expected to be recognized on contracts as of June 30, 2020		$	283			$	441			$	611			$	1,335

Since most of the Company’s contracts are cancellable with less than one year’s notice, and have no substantive penalty for cancellation, the majority of the Company’s remaining performance obligations as of June 30, 2020 have been excluded from the table above.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Segment Information

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Segment Information

Note 5 — Segment Information

Willis Towers Watson has four reportable operating segments or business areas:

•

Human Capital and Benefits (‘HCB’)

•

Corporate Risk and Broking (‘CRB’)

•

Investment, Risk and Reinsurance (‘IRR’)

•

Benefits Delivery and Administration (‘BDA’)

Willis Towers Watson’s chief operating decision maker is its 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 and the methods 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-tax basis.

The Company experiences seasonal fluctuations of its revenue. Revenue is typically higher during the Company’s first and fourth quarters due primarily to the timing of broking-related activities.

The following table presents segment revenue and segment operating income for our reportable segments for the three months ended June 30, 2020 and 2019.

	Three Months Ended June 30,
	HCB				CRB				IRR				BDA						Total
	2020		2019		2020		2019		2020		2019		2020			2019			2020		2019
Segment revenue	$	767	$	797	$	701	$	690	$	413	$	409	$	209		$	126		$	2,090	$	2,022

Segment operating income/(loss)	$	160	$	169	$	135	$	104	$	119	$	109	$	(9	)	$	(25	)	$	405	$	357

The following table presents segment revenue and segment operating income for our reportable segments for the six months ended June 30, 2020 and 2019.

	Six Months Ended June 30,
	HCB				CRB				IRR				BDA						Total
	2020		2019		2020		2019		2020		2019		2020			2019			2020		2019
Segment revenue	$	1,617	$	1,626	$	1,440	$	1,418	$	1,028	$	998	$	440		$	261		$	4,525	$	4,303

Segment operating income/(loss)	$	373	$	373	$	262	$	231	$	396	$	361	$	(20	)	$	(46	)	$	1,011	$	919

The following table presents reconciliations of the information reported by segment to the Company’s condensed consolidated statements of comprehensive income amounts reported for the three and six months ended June 30, 2020 and 2019.

	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
Revenue:
Total segment revenue	$	2,090		$	2,022		$	4,525		$	4,303
Reimbursable expenses and other		23			26			54			57
Revenue	$	2,113		$	2,048		$	4,579		$	4,360

Total segment operating income	$	405		$	357		$	1,011		$	919
Amortization		(119	)		(123	)		(240	)		(250	)
Transaction and integration expenses ⁽ⁱ⁾		(14	)		—			(23	)		(6	)
Unallocated, net ⁽ⁱⁱ⁾		(109	)		(58	)		(225	)		(128	)
Income from operations		163			176			523			535
Interest expense		(62	)		(56	)		(123	)		(110	)
Other income, net		76			67			168			122
Income from operations before income taxes	$	177		$	187		$	568		$	547

(i)	Includes transaction costs related to the proposed Aon combination and TRANZACT acquisition in 2019.

(ii)	Includes certain costs, primarily related to corporate functions which are not directly related to the segments, and certain differences between budgeted expenses determined at the beginning of the year and actual expenses that we report for U.S. GAAP purposes.

The Company does not currently provide asset information by reportable segment as it does not routinely evaluate the total asset position by segment.

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/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

Income Taxes

6 Months Ended

Jun. 30, 2020

Income Tax Disclosure [Abstract]

Income Taxes

Note 6 — Income Taxes

Provision for income taxes for the three and six months ended June 30, 2020 was $75 million and $153 million, respectively, compared to $38 million and $105 million for the three and six months ended June 30, 2019, respectively. The effective tax rates were 42.2% and 26.9% for the three and six months ended June 30, 2020, respectively, and 19.7% and 19.1% for the three and six months ended June 30, 2019, respectively. These effective tax rates are calculated using extended values from our condensed consolidated statements of comprehensive income and are therefore more precise tax rates than can be calculated from rounded values. The current year effective tax rate is higher due primarily to a discrete tax expense of $35 million recognized during the three months ended June 30, 2020 in connection with the temporary income tax provisions of the CARES Act. During the three months ended June 30, 2020, the Company elected to utilize the higher section 163(j) 50 percent business interest limitation for tax years 2019 and 2020, which allows the Company to utilize additional interest expense. The utilization of additional interest expense reduces our regular tax liability, reduces our ability to utilize foreign tax credits and creates a base erosion minimum tax expense for these tax years.

On April 7, 2020 the U.S. Department of Treasury finalized regulations on specific aspects of U.S. Tax Reform. During the first quarter ended March 31, 2020, the Company estimated the potential impact of the final regulations and its retroactive application to be between $50 million and $82 million. Subsequently the Company has concluded that the final regulations are not applicable. As a result, our remeasurement of the estimated impact results in no tax expense to be recognized pursuant to this aspect of U.S. Tax Reform during the three months ended June 30, 2020.

The Company recognizes deferred tax balances related to the undistributed earnings of subsidiaries when it 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 taxes on cumulative earnings of our subsidiaries that have been reinvested indefinitely. As a result of our plans to restructure or distribute accumulated earnings of certain foreign operations, we have recorded an estimate of foreign withholding and state income taxes. However, we assert that the historical cumulative earnings of our other subsidiaries are reinvested indefinitely, and therefore do not provide deferred tax liabilities on these amounts.

The Company records valuation allowances against net deferred tax assets based on whether it is more likely than not that the deferred tax assets will be realized. We have liabilities for uncertain tax positions under ASC 740 of $51 million, excluding interest and penalties. The Company believes the outcomes that are reasonably possible within the next 12 months may result in a reduction in the liability for uncertain tax positions of approximately $3 million to $8 million, excluding interest and penalties.

Goodwill And Intangible Assets Disclosure [Abstract]

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.

+ References + Details

Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2020

Goodwill and Other Intangible Assets

Note 7 — Goodwill and Other Intangible Assets

The components of goodwill are outlined below for the six months ended June 30, 2020:

	HCB			CRB			IRR			BDA			Total
Balance at December 31, 2019:
Goodwill, gross	$	4,298		$	2,309		$	1,795		$	3,284		$	11,686
Accumulated impairment losses		(130	)		(362	)		—			—			(492	)
Goodwill, net - December 31, 2019		4,168			1,947			1,795			3,284			11,194
Goodwill acquired		15			28			—			—			43
Goodwill disposals		—			(1	)		—			—			(1	)
Acquisition accounting adjustment		—			—			—			(5	)		(5	)
Foreign exchange		(13	)		(9	)		(13	)		—			(35	)
Balance at June 30, 2020:
Goodwill, gross		4,300			2,327			1,782			3,279			11,688
Accumulated impairment losses		(130	)		(362	)		—			—			(492	)
Goodwill, net - June 30, 2020	$	4,170		$	1,965		$	1,782		$	3,279		$	11,196

Other Intangible Assets

The following table reflects changes in the net carrying amounts of the components of finite-lived intangible assets for the six months ended June 30, 2020:

	Client relationships			Software			Trademark and trade name			Other			Total
Balance at December 31, 2019:
Intangible assets, gross	$	4,029		$	753		$	1,051		$	134		$	5,967
Accumulated amortization		(1,731	)		(551	)		(176	)		(31	)		(2,489	)
Intangible assets, net - December 31, 2019		2,298			202			875			103			3,478
Intangible assets acquired		18			—			—			32			50
Intangible asset disposals		(2	)		—			—			—			(2	)
Amortization		(152	)		(55	)		(22	)		(11	)		(240	)
Foreign exchange		(26	)		(3	)		—			—			(29	)
Balance at June 30, 2020:
Intangible assets, gross		3,992			741			1,051			165			5,949
Accumulated amortization		(1,856	)		(597	)		(198	)		(41	)		(2,692	)
Intangible assets, net - June 30, 2020	$	2,136		$	144		$	853		$	124		$	3,257

The weighted-average remaining life of amortizable intangible assets at June 30, 2020 was 13.5 years.

The table below reflects the future estimated amortization expense for amortizable intangible assets for the remainder of 2020 and for subsequent years:

	Amortization
Remainder of 2020	$	209
2021		376
2022		318
2023		268
2024		237
Thereafter		1,849
Total	$	3,257

Derivative Financial Instruments

6 Months Ended

Jun. 30, 2020

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

Note 8 — Derivative Financial Instruments

We are exposed to certain 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. These instruments have the effect of reducing our exposure to unfavorable changes in foreign currency rates. The Company’s board of directors reviews and approves policies for managing this risk as summarized below. Additional information regarding our derivative financial instruments can be found in Note 10 — Fair Value Measurements and Note 15 — Accumulated Other Comprehensive Loss.

Foreign Currency Risk

Certain non-U.S. subsidiaries receive revenue and incur expenses in currencies other than their functional currency, and as a result, the foreign subsidiary’s functional currency revenue and/or expenses will fluctuate as the currency rates change. Additionally, the forecast Pounds sterling expenses of our London brokerage market operations may exceed their Pounds sterling revenue, and they may also hold significant foreign currency asset or liability positions in the condensed consolidated balance sheet. To reduce such variability, we use foreign exchange contracts to hedge against this currency risk.

These derivatives were designated as hedging instruments and at June 30, 2020 and December 31, 2019 had total notional amounts of $474 million and $499 million, respectively, and had a net fair value liability of $13 million and a net fair value asset of $8 million, respectively.

At June 30, 2020, the Company estimates, based on current exchange rates, there will be $12 million of net derivative losses on forward exchange rates reclassified from accumulated other comprehensive loss into earnings within the next twelve months as the forecast transactions affect earnings. At June 30, 2020, our longest outstanding maturity was 1.7 years.

The effects of the material derivative instruments that are designated as hedging instruments on the condensed consolidated statements of comprehensive income for the three and six months ended June 30, 2020 and 2019 are below. Amounts pertaining to the ineffective portion of hedging instruments and those excluded from effectiveness testing were immaterial for the three and six months ended June 30, 2020 and 2019.

	Loss recognized in OCI (effective element)
	Three months ended June 30,						Six months ended June 30,
	2020			2019			2020			2019
Forward exchange contracts	$	(3	)	$	(10	)	$	(27	)	$	(2	)

Location of loss reclassified from Accumulated OCL into income (effective element)	Loss reclassified from Accumulated OCL into income (effective element)
	Three months ended June 30,						Six months ended June 30,
	2020			2019			2020			2019
Revenue	$	(1	)	$	(3	)	$	(1	)	$	(2	)
Salaries and benefits		(1	)		1			(3	)		(4	)
	$	(2	)	$	(2	)	$	(4	)	$	(6	)

We also enter into foreign currency transactions, primarily to hedge certain intercompany loans and other balance sheet exposures in currencies other than the functional currency of a given entity. These derivatives are not generally designated as hedging instruments and at June 30, 2020 and December 31, 2019, we had notional amounts of $1.1 billion and $931 million, respectively, and had net a fair value liability of $2 million and a net fair value asset of $21 million, respectively.

The effects of derivatives that have not been designated as hedging instruments on the condensed consolidated statements of comprehensive income for the three and six months ended June 30, 2020 and 2019 are as follows:

		Loss/(gain) recognized in income
		Three Months Ended June 30,					Six Months Ended June 30,
Derivatives not designated as hedging instruments:	Location of (loss)/gain recognized in income	2020			2019		2020			2019
Forward exchange contracts	Other income, net	$	(8	)	$	6	$	(20	)	$	(4	)

On June 10, 2020, we entered into certain foreign currency transactions to hedge the consideration to be received from the forthcoming divestiture of our Max Matthiessen business (see Note 3 — Acquisitions and Divestitures) against fluctuations in foreign exchange rates. The notional value of these contracts is approximately $273 million, of which approximately $181 million has been designated as a hedge of net investment, on an after-tax basis, against the carrying value of the net assets of Max Matthiessen. The fair values of both the designated and undesignated hedging instruments at June 30, 2020 were immaterial.

Debt

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Debt

Note 9 — Debt

Current debt consists of the following:

	June 30, 2020		December 31, 2019
5.750% senior notes due 2021	$	500	$	—
Current portion of collateralized facility		25		24
Term loan due 2020		—		292
	$	525	$	316

Long-term debt consists of the following:

	June 30, 2020		December 31, 2019
Revolving $1.25 billion credit facility	$	—	$	—
Collateralized facility ⁽ⁱ⁾		44		60
5.750% senior notes due 2021		—		499
3.500% senior notes due 2021		448		448
2.125% senior notes due 2022⁽ⁱⁱ⁾		605		604
4.625% senior notes due 2023		249		249
3.600% senior notes due 2024		647		646
4.400% senior notes due 2026		546		546
4.500% senior notes due 2028		595		595
2.950% senior notes due 2029		726		446
6.125% senior notes due 2043		271		271
5.050% senior notes due 2048		395		395
3.875% senior notes due 2049		542		542
	$	5,068	$	5,301

(i)	At June 30, 2020 and December 31, 2019, the Company had $112 million and $127 million, respectively, of renewal commissions receivables pledged as collateral for this facility.

(ii)	Notes issued in Euro (€540 million)

Senior Notes

On May 29, 2020, the Company, together with its wholly-owned subsidiary, Willis North America Inc. as issuer, completed an offering of an additional $275 million aggregate principal amount of 2.950% senior notes due 2029 (‘2029 senior notes’), of which Willis North America Inc. previously issued $450 million aggregate principal amount on September 10, 2019 (the ‘Initial Notes’), all of which Initial Notes remain outstanding. The 2029 senior notes will be treated as a single class with, and otherwise identical to, the Initial Notes other than with respect to the date of issuance, the issue price and the amounts paid to holders for each on the first interest payment date. The effective interest rate of the 2029 senior notes is 2.697%, which includes the impact of the premium upon issuance. The 2029 senior notes will mature on September 15, 2029. Interest accrues on the 2029 senior notes from March 15, 2020 and will be paid in cash on March 15 and September 15 of each year, commencing on September 15, 2020. The net proceeds from this offering, after deducting underwriter discounts and commissions and estimated offering expenses, were $280 million (excluding accrued interest on the 2029 senior notes from March 15, 2020 to, but not including, May 29, 2020, of $2 million payable to us on such date), and were used to repay $175 million of the full principal amount and related accrued interest under the term loan facility, which was set to expire in July 2020, as well as repay $105 million of borrowings outstanding under the Company’s $1.25 billion revolving credit facility and related accrued interest.

At June 30, 2020 and December 31, 2019, we were in compliance with all financial covenants.

Fair Value Measurements

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 10 — 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:

•

Level 1: refers to fair values determined based on quoted market prices in active markets for identical assets;

•

Level 2: refers to fair values estimated using observable market-based inputs or unobservable inputs that are corroborated by market data; and

•

Level 3: includes fair values estimated using unobservable inputs that are not corroborated by market data.

The following methods and assumptions were used by the Company in estimating its fair value disclosure for financial instruments:

•

Available-for-sale securities are classified as Level 1 because we use quoted market prices in determining the fair value of these securities.

•

Market values for our derivative instruments have been used to determine the fair value of forward foreign exchange contracts based on estimated amounts the Company would receive or have to pay to terminate the agreements, taking into account observable information about the current foreign currency forward rates. Such financial instruments are classified as Level 2 in the fair value hierarchy.

•

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, which at times includes the use of a Monte Carlo simulation, and discounting the probability-weighted payout. Typically, milestones are based on revenue or earnings growth for the acquired business.

The following tables present our assets and liabilities measured at fair value on a recurring basis at June 30, 2020 and December 31, 2019:

		Fair Value Measurements on a Recurring Basis at June 30, 2020
	Balance Sheet Location	Level 1		Level 2		Level 3		Total
Assets:
Available-for-sale securities:
Mutual funds / exchange traded funds	Prepaid and other current assets and other non-current assets	$	7	$	—	$	—	$	7
Derivatives:
Derivative financial instruments ⁽ⁱ⁾	Prepaid and other current assets and other non-current assets	$	—	$	3	$	—	$	3
Liabilities:
Contingent consideration:
Contingent consideration ⁽ⁱⁱ⁾	Other current liabilities and other non-current liabilities	$	—	$	—	$	22	$	22
Derivatives:
Derivative financial instruments ⁽ⁱ⁾	Other current liabilities and other non-current liabilities	$	—	$	18	$	—	$	18

		Fair Value Measurements on a Recurring Basis at December 31, 2019
	Balance Sheet Location	Level 1		Level 2		Level 3		Total
Assets:
Available-for-sale securities:
Mutual funds / exchange traded funds	Prepaid and other current assets and other non-current assets	$	20	$	—	$	—	$	20
Derivatives:
Derivative financial instruments ⁽ⁱ⁾	Prepaid and other current assets and other non-current assets	$	—	$	32	$	—	$	32
Liabilities:
Contingent consideration:
Contingent consideration ⁽ⁱⁱ⁾	Other current liabilities and other non-current liabilities	$	—	$	—	$	17	$	17
Derivatives:
Derivative financial instruments ⁽ⁱ⁾	Other current liabilities and other non-current liabilities	$	—	$	3	$	—	$	3

(i)	See Note 8 — Derivative Financial Instruments for further information on our derivative investments.

(ii)

Probability weightings are based on our knowledge of the past and planned performance of the acquired entity to which the contingent consideration applies. The fair value weighted-average discount rates used on our material contingent consideration calculations were 9.03% and 10.16% at June 30, 2020 and December 31, 2019, respectively. The range of these discount rates was 3.53% - 13.00% at June 30, 2020. Using different probability weightings and discount rates could result in an increase or decrease of the contingent consideration payable.

The following table summarizes the change in fair value of the Level 3 liabilities:

Fair Value Measurements Using Significant Unobservable Inputs (Level 3)	June 30, 2020
Balance at December 31, 2019	$	17
Obligations assumed		2
Payments		—
Realized and unrealized losses		3
Foreign exchange		—
Balance at June 30, 2020	$	22

There were no significant transfers to or from Level 3 in the six months ended June 30, 2020.

The following tables present our liabilities not measured at fair value on a recurring basis at June 30, 2020 and December 31, 2019:

	June 30, 2020				December 31, 2019
	Carrying Value		Fair Value		Carrying Value		Fair Value
Liabilities:
Current debt	$	525	$	540	$	316	$	319
Long-term debt	$	5,068	$	5,732	$	5,301	$	5,694

The carrying values of our revolving credit facility and collateralized facility 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 instruments. The fair values of our respective senior notes are considered Level 2 financial instruments as they are corroborated by observable market data.

Compensation And Retirement Disclosure [Abstract]

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.

+ References + Details

Retirement Benefits

6 Months Ended

Jun. 30, 2020

Retirement Benefits

Note 11 — 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 (‘PRW’) plans throughout the world. The majority of our plan assets and obligations are in the U.S. and the U.K. We have also included disclosures related to defined benefit plans in certain other countries, including Canada, France, Germany and Ireland. Together, these disclosed funded and unfunded plans represent 99% of Willis Towers Watson’s pension and PRW obligations and are disclosed herein.

Components of Net Periodic Benefit (Income)/Cost for Defined Benefit Pension and Post-retirement Welfare Plans

The following table sets forth the components of net periodic benefit (income)/cost for the Company’s defined benefit pension and PRW plans for the three and six months ended June 30, 2020 and 2019:

	Three Months Ended June 30,
	2020												2019
	U.S.			U.K.			Other			PRW			U.S.			U.K.			Other			PRW
Service cost	$	18		$	3		$	5		$	—		$	16		$	3		$	5		$	—
Interest cost		33			18			3			—			39			23			5			1
Expected return on plan assets		(72	)		(59	)		(9	)		—			(63	)		(62	)		(8	)		—
Settlement		2			1			—			—			—			—			—			—
Amortization of net loss		8			5			2			1			5			5			—			—
Amortization of prior service credit		—			(4	)		—			(1	)		—			(4	)		—			(1	)
Net periodic benefit (income)/cost	$	(11	)	$	(36	)	$	1		$	—		$	(3	)	$	(35	)	$	2		$	—

	Six Months Ended June 30,
	2020												2019
	U.S.			U.K.			Other			PRW			U.S.			U.K.			Other			PRW
Service cost	$	36		$	7		$	10		$	—		$	32		$	7		$	10		$	—
Interest cost		66			36			7			1			79			47			9			2
Expected return on plan assets		(145	)		(121	)		(17	)		—			(127	)		(125	)		(15	)		—
Settlement		2			1			—			—			—			—			—			—
Amortization of net loss		17			11			2			1			10			10			1			—
Amortization of prior service credit		—			(8	)		—			(2	)		—			(8	)		—			(2	)
Net periodic benefit (income)/cost	$	(24	)	$	(74	)	$	2		$	—		$	(6	)	$	(69	)	$	5		$	—

Employer Contributions to Defined Benefit Pension Plans

The Company made no contributions to its U.S. plans for the six months ended June 30, 2020 and anticipates making $18 million in contributions over the remainder of the fiscal year. The Company made contributions of $35 million to its U.K. plans for the six months ended June 30, 2020 and anticipates making additional contributions of $30 million for the remainder of the fiscal year. The Company made contributions of $17 million to its other plans for the six months ended June 30, 2020 and anticipates making additional contributions of $5 million for the remainder of the fiscal year.

Defined Contribution Plans

The Company made contributions to its defined contribution plans of $40 million and $83 million during the three and six months ended June 30, 2020, respectively, and $37 million and $78 million during the three and six months ended June 30, 2019, respectively.

The entire disclosure for retirement benefits.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=118257860&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section S99
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (o)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (p)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 70
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 60
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (q)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (l)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Commitments And Contingencies Disclosure [Abstract]

Leases

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Leases

Note 12 — Leases

The following tables present lease costs recorded on our condensed consolidated statements of comprehensive income for the three and six months ended June 30, 2020 and 2019.

	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
Finance lease cost:
Amortization of right-of-use assets	$	—		$	—		$	1		$	1
Interest on lease liabilities		1			1			2			2
Operating lease cost		46			46			93			94
Short-term lease cost		—			—			—			—
Variable lease cost		13			17			23			30
Sublease income		(5	)		(4	)		(10	)		(8	)
Total lease cost, net	$	55		$	60		$	109		$	119

The total lease cost is recognized in different locations in our condensed consolidated statements of comprehensive income. Amortization of the finance lease ROU assets is included in depreciation, while the interest cost component of these finance leases is included in interest expense. All other costs are included in other operating expenses.

Commitments and Contingencies

6 Months Ended

Jun. 30, 2020

Commitments and Contingencies

Note 13 — Commitments and Contingencies

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 the Company’s obligations and the unique facts of each particular agreement, we do not believe that any potential liability that may arise from such indemnity provisions is probable or material.

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 condensed 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. 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 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. See Note 14 — Supplementary Information for Certain Balance Sheet Accounts for the amounts accrued at June 30, 2020 and December 31, 2019 in the condensed consolidated balance sheets.

On the basis of current information, the Company does not expect that the actual claims, lawsuits and other proceedings to which it 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 its 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 particular quarterly or annual periods. In addition, given the early stages of some litigation or regulatory proceedings described below, it may not be possible to predict their outcomes or resolutions, and it is possible that any one or more of these events may have a material adverse effect on the Company.

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. The contingent liabilities recorded 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.

Litigation Relating to the Proposed Combination with Aon plc

On May 11, 2020, a purported stockholder of the Company filed a complaint in the United States District Court for the Southern District of New York against the Company and the members of the Company’s board of directors, captioned Stein v. Willis Towers Watson Public Limited Company, et al., Case No. 1:20-cv-03656 (S.D.N.Y.), referred to as the ‘Stein Complaint.’ On May 14, 2020, a purported stockholder of the Company filed a putative class action in the United States District Court for the District of Delaware against the Company, the members of the Company’s board of directors, and Aon plc (‘Aon’), captioned Kent v. Willis Towers Watson Public Limited Company, et al., Case No. 1:20-cv-00641 (D. Del.), referred to as the ‘Kent Complaint.’ On May 19, 2020, a purported stockholder of the Company filed a putative class action in the United States District Court for the Southern District of New York against the Company and the members of the Company’s board of directors, captioned Carter v. Willis Towers Watson Public Limited Company, et al., Case No. 1:20-cv-03865 (S.D.N.Y.), referred to as the ‘Carter Complaint.’ On May 28, 2020, a purported stockholder of the Company filed a complaint in the United States District Court for the Southern District of California against the Company and the members of the Company’s board of directors, captioned Tang v. Willis Towers Watson Public Limited Company, et al., Case No. 3:20-cv-00986 (S.D. Cal.), referred to as the ‘Tang Complaint.’ On June 17, 2020, a purported stockholder of the Company filed a complaint in the United States District Court for the Southern District of California against the Company and the members of the Company’s board of directors, captioned Kuznik v. Willis Towers Watson Public Limited Company, et al., Case No. 3:20-cv-01097 (S.D. Cal.), referred to as the ‘Kuznik Complaint,’ and together with the Stein Complaint, the Kent Complaint, the Carter Complaint, and the Tang Complaint, referred to as the ‘Complaints.’

The Complaints assert claims against certain defendants under Section 14(a) of the Securities Exchange Act of 1934 (the ‘Exchange Act’) for allegedly false and misleading statements in the proxy statement; and against certain defendants under Section 20(a) of the Exchange Act for alleged “control person” liability with respect to such allegedly false and misleading statements. The Stein Complaint, the Carter Complaint, and the Tang Complaint each seek, among other relief, an order enjoining the proposed combination with Aon unless and until corrective disclosures are made. The Kuznik Complaint and the Kent Complaint each seek, among other relief, an order enjoining the proposed combination with Aon and an order directing certain defendants to issue corrective disclosures. The Stein Complaint and the Carter Complaint also seek damages in an unspecified amount. The Company believes the allegations in the Complaints are without merit.

Willis Towers Watson Merger-Related Securities Litigation

On November 21, 2017, a purported former stockholder of Legacy Towers Watson filed a putative class action complaint on behalf of a putative class consisting of all Legacy Towers Watson stockholders as of October 2, 2015 against the Company, Legacy Towers Watson, Legacy Willis, ValueAct Capital Management (‘ValueAct’), and certain current and former directors and officers of Legacy Towers Watson and Legacy Willis (John Haley, Dominic Casserley, and Jeffrey Ubben), in the United States District Court for the Eastern District of Virginia. The complaint asserted claims against certain defendants under Section 14(a) of the Securities Exchange Act of 1934 (the ‘Exchange Act’) for allegedly false and misleading statements in the proxy statement for the Merger; and against other defendants under Section 20(a) of the Exchange Act for alleged ‘control person’ liability with respect to such allegedly false and misleading statements. The complaint further contended that the allegedly false and misleading statements caused stockholders of Legacy Towers Watson to accept inadequate Merger consideration. The complaint sought damages in an unspecified amount. On February 20, 2018, the court appointed the Regents of the University of California (‘Regents’) as Lead Plaintiff and Bernstein Litowitz Berger & Grossman LLP (‘Bernstein’) as Lead Counsel for the putative class, consolidated all subsequently filed, removed, or transferred actions, and captioned the consolidated action ‘In re Willis Towers Watson plc Proxy Litigation,’ Master File No. 1:17-cv-1338-AJT-JFA. On March 9, 2018, Lead Plaintiff filed an Amended Complaint. On April 13, 2018, the defendants filed motions to dismiss the Amended Complaint, and, on July 11, 2018, following briefing and argument, the court granted the motions and dismissed the Amended Complaint in its entirety. On July 30, 2018, Lead Plaintiff filed a notice of appeal from the court’s July 11, 2018 dismissal order to the United States Court of Appeals for the Fourth Circuit, and, on December 6, 2018, the parties completed briefing on the appeal. On May 8, 2019, the parties argued the appeal, and on August 30, 2019, the Fourth Circuit vacated the dismissal order and remanded the case to the Eastern District of Virginia for further proceedings consistent with its decision. On September 13, 2019, the defendants filed a petition for rehearing by the Fourth Circuit en banc, which the Fourth Circuit denied on September 27, 2019. On November 8, 2019, the defendants filed renewed motions to dismiss in the Eastern District of Virginia based upon certain arguments that were advanced in their original motions to dismiss, but undecided by both the district court and the Fourth Circuit. On December

18, 2019, the parties completed briefing on the defendants’ renewed motions, and, on December 20, 2019, the court heard argument on the motions. On January 31, 2020, the court denied the motions. On June 12, 2020, Lead Plaintiff filed a motion for class certification, in connection with which it indicated that it is seeking class-wide damages of approximately $456 million.

On February 27, 2018 and March 8, 2018, two additional purported former stockholders of Legacy Towers Watson, City of Fort Myers General Employees’ Pension Fund (‘Fort Myers’) and Alaska Laborers-Employers Retirement Trust (‘Alaska’), filed putative class action complaints on behalf of a putative class of Legacy Towers Watson stockholders against the former members of the Legacy Towers Watson board of directors, Legacy Towers Watson, Legacy Willis and ValueAct, in the Delaware Court of Chancery, captioned City of Fort Myers General Employees’ Pension Fund v. Towers Watson & Co., et al., C.A. No. 2018-0132, and Alaska Laborers-Employers Retirement Trust v. Victor F. Ganzi, et al., C.A. No. 2018-0155, respectively. Based on similar allegations as the Eastern District of Virginia action described above, the complaints assert claims against the former directors of Legacy Towers Watson for breach of fiduciary duty and against Legacy Willis and ValueAct for aiding and abetting breach of fiduciary duty.

On March 9, 2018, Regents filed a putative class action complaint on behalf of a putative class of Legacy Towers Watson stockholders against the Company, Legacy Willis, ValueAct, and Messrs. Haley, Casserley, and Ubben, in the Delaware Court of Chancery, captioned The Regents of the University of California v. John J. Haley, et al., C.A. No. 2018-0166. Based on similar allegations as the Eastern District of Virginia action described above, the complaint asserts claims against Mr. Haley for breach of fiduciary duty and against all other defendants for aiding and abetting breach of fiduciary duty. Also on March 9, 2018, Regents filed a motion for consolidation of all pending and subsequently filed Delaware Court of Chancery actions, and for appointment as Lead Plaintiff and for the appointment of Bernstein as Lead Counsel for the putative class. On March 29, 2018, Fort Myers and Alaska responded to Regents’ motion and cross-moved for appointment as Co-Lead Plaintiffs and for the appointment of their counsel, Grant & Eisenhofer P.A. and Kessler Topaz Meltzer & Check, LLP as Co-Lead Counsel. On April 2, 2018, the court consolidated the Delaware Court of Chancery actions and all related actions subsequently filed in or transferred to the Delaware Court of Chancery. On June 5, 2018, the court denied Regents’ motion for appointment of Lead Plaintiff and Lead Counsel and granted Fort Myers’ and Alaska’s cross-motion. On June 20, 2018, Fort Myers and Alaska designated the complaint previously filed by Alaska (the ‘Alaska Complaint’) as the operative complaint in the consolidated action. On September 14, 2018, the defendants filed motions to dismiss the Alaska Complaint. On October 31, 2018, Fort Myers and Alaska filed an amended complaint, which, based on similar allegations, asserts claims against the former directors of legacy Towers Watson for breach of fiduciary duty and against ValueAct and Mr. Ubben for aiding and abetting breach of fiduciary duty. On January 11, 2019, the defendants filed motions to dismiss the amended complaint, and on March 29, 2019, the parties completed briefing on the motions. The court heard argument on the motions on April 11, 2019 and, on July 25, 2019, dismissed the amended complaint in its entirety. On August 22, 2019, Fort Myers and Alaska filed a notice of appeal (only with respect to Messrs. Haley and Ubben and ValueAct) from the court’s July 25, 2019 dismissal order to the Supreme Court of the State of Delaware. On November 22, 2019, the parties completed briefing on the appeal, which was submitted on April 22, 2020 for decision in lieu of argument. On June 30, 2020, the Supreme Court of the State of Delaware reversed and remanded the case to the Court of Chancery for further proceedings consistent with its decision.

On October 18, 2018, three additional purported former stockholders of Legacy Towers Watson, Naya Master Fund LP, Naya 174 Fund Limited and Naya Lincoln Park Master Fund Limited (collectively, ‘Naya’), filed a complaint against the Company, Legacy Towers Watson, Legacy Willis and John Haley, in the Supreme Court of the State of New York, County of New York, captioned Naya Master Fund LP, et al. v. John J. Haley, et al., Index No. 654968/2018. Based on similar allegations as the Eastern District of Virginia and Delaware actions described above, the complaint asserts claims for common law fraud and negligent misrepresentation. On December 18, 2018, the defendants filed a motion to dismiss the complaint, and on March 21, 2019, the parties completed briefing on the motion. On April 23, 2019, the parties filed a Stipulation and Proposed Order Voluntarily Discontinuing Action providing for the dismissal of the action with prejudice, which the court entered on April 29, 2019.

The defendants dispute the allegations in these actions and intend to defend the lawsuits vigorously. Given the stage of the proceedings, the Company is unable to provide an estimate of the reasonably possible loss or range of loss in respect of the complaints.

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:

•

Troice, et al. v. Willis of Colorado, Inc., et al., C.A. No. 3:9-CV-1274-N, was filed on July 2, 2009 in the U.S. District Court for the Northern District of Texas against Willis Group Holdings plc, Willis of Colorado, Inc. and a Willis associate, among others. On April 1, 2011, plaintiffs filed the operative Third Amended Class Action Complaint individually and on behalf of a putative, worldwide class of Stanford investors, adding Willis Limited as a defendant and alleging claims under Texas

statutory and common law and seeking damages in excess of $1 billion, punitive damages and costs. On May 2, 2011, the defendants filed motions to dismiss the Third Amended Class Action Complaint, arguing, inter alia, that the plaintiffs’ claims are precluded by the Securities Litigation Uniform Standards Act of 1998 (‘SLUSA’).

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.

•

Ranni v. Willis of Colorado, Inc., et al., C.A. No. 9-22085, was filed on July 17, 2009 against Willis Group Holdings plc and Willis of Colorado, Inc. in the U.S. District Court for the Southern District of Florida. The complaint was filed on behalf of a putative class of Venezuelan and other South American Stanford investors and alleges claims under Section 10(b) of the Securities Exchange Act of 1934 (and Rule 10b-5 thereunder) and Florida statutory and common law and seeks damages in an amount to be determined at trial. On October 6, 2009, Ranni was transferred, for consolidation or coordination with other Stanford-related actions (including Troice), to the Northern District of Texas by the U.S. Judicial Panel on Multidistrict Litigation (the ‘JPML’). The defendants have not yet responded to the complaint in Ranni. On August 26, 2014, the plaintiff filed a notice of voluntary dismissal of the action without prejudice.

•

Canabal, et al. v. Willis of Colorado, Inc., et al., C.A. No. 3:9-CV-1474-D, was filed on August 6, 2009 against Willis Group Holdings plc, Willis of Colorado, Inc. and the same Willis associate named as a defendant in Troice, among others, also in the Northern District of Texas. The complaint was filed individually and on behalf of a putative class of Venezuelan Stanford investors, alleged claims under Texas statutory and common law and sought damages in excess of $1 billion, punitive damages, attorneys’ fees and costs. On December 18, 2009, the parties in Troice and Canabal stipulated to the consolidation

of those actions (under the Troice civil action number), and, on December 31, 2009, the plaintiffs in Canabal filed a notice of dismissal, dismissing the action without prejudice.

•

Rupert, et al. v. Winter, et al., Case No. 2009C115137, was filed on September 14, 2009 on behalf of 97 Stanford investors against Willis Group Holdings plc, Willis of Colorado, Inc. and the same Willis associate, among others, in Texas state court (Bexar County). The complaint alleges claims under the Securities Act of 1933, Texas and Colorado statutory law and Texas common law and seeks special, consequential and treble damages of more than $300 million, attorneys’ fees and costs. On October 20, 2009, certain defendants, including Willis of Colorado, Inc., (i) removed Rupert to the U.S. District Court for the Western District of Texas, (ii) notified the JPML of the pendency of this related action and (iii) moved to stay the action pending a determination by the JPML as to whether it should be transferred to the Northern District of Texas for consolidation or coordination with the other Stanford-related actions. On April 1, 2010, the JPML issued a final transfer order for the transfer of Rupert to the Northern District of Texas. On January 24, 2012, the court remanded Rupert to Texas state court (Bexar County), but stayed the action until further order of the court. On August 13, 2012, the plaintiffs filed a motion to lift the stay, which motion was denied by the court on September 16, 2014. On October 10, 2014, the plaintiffs appealed the court’s denial of their motion to lift the stay to the U.S. Court of Appeals for the Fifth Circuit. On January 5, 2015, the Fifth Circuit consolidated the appeal with the appeal in the Rishmague, et ano. v. Winter, et al. action discussed below, and the consolidated appeal, was fully briefed as of March 24, 2015. Oral argument on the consolidated appeal was held on September 2, 2015. On September 16, 2015, the Fifth Circuit affirmed. The defendants have not yet responded to the complaint in Rupert.

•

Casanova, et al. v. Willis of Colorado, Inc., et al., C.A. No. 3:10-CV-1862-O, was filed on September 16, 2010 on behalf of seven Stanford investors against Willis Group Holdings plc, Willis Limited, Willis of Colorado, Inc. and the same Willis associate, among others, also in the Northern District of Texas. The complaint alleges claims under Texas statutory and common law and seeks actual damages in excess of $5 million, punitive damages, attorneys’ fees and costs. On February 13, 2015, the parties filed an Agreed Motion for Partial Dismissal pursuant to which they agreed to the dismissal of certain claims pursuant to the motion to dismiss decisions in the Troice action discussed above and the Janvey action discussed below. Also on February 13, 2015, the defendants except Willis Group Holdings plc answered the complaint in the Casanova action. On June 19, 2015, Willis Group Holdings plc filed a motion to dismiss the complaint for lack of personal jurisdiction. Plaintiffs have not opposed the motion.

•

Rishmague, et ano. v. Winter, et al., Case No. 2011CI2585, was filed on March 11, 2011 on behalf of two Stanford investors, individually and as representatives of certain trusts, against Willis Group Holdings plc, Willis of Colorado, Inc., Willis of Texas, Inc. and the same Willis associate, among others, in Texas state court (Bexar County). The complaint alleges claims under Texas and Colorado statutory law and Texas common law and seeks special, consequential and treble damages of more than $37 million and attorneys’ fees and costs. On April 11, 2011, certain defendants, including Willis of Colorado, Inc., (i) removed Rishmague to the Western District of Texas, (ii) notified the JPML of the pendency of this related action and (iii) moved to stay the action pending a determination by the JPML as to whether it should be transferred to the Northern District of Texas for consolidation or coordination with the other Stanford-related actions. On August 8, 2011, the JPML issued a final transfer order for the transfer of Rishmague to the Northern District of Texas, where it is currently pending. On August 13, 2012, the plaintiffs joined with the plaintiffs in the Rupert action in their motion to lift the court’s stay of the Rupert action. On September 9, 2014, the court remanded Rishmague to Texas state court (Bexar County), but stayed the action until further order of the court and denied the plaintiffs’ motion to lift the stay. On October 10, 2014, the plaintiffs appealed the court’s denial of their motion to lift the stay to the Fifth Circuit. On January 5, 2015, the Fifth Circuit consolidated the appeal with the appeal in the Rupert action, and the consolidated appeal was fully briefed as of March 24, 2015. Oral argument on the consolidated appeal was held on September 2, 2015. On September 16, 2015, the Fifth Circuit affirmed. The defendants have not yet responded to the complaint in Rishmague.

•

MacArthur v. Winter, et al., Case No. 2013-07840, was filed on February 8, 2013 on behalf of two Stanford investors against Willis Group Holdings plc, Willis of Colorado, Inc., Willis of Texas, Inc. and the same Willis associate, among others, in Texas state court (Harris County). The complaint alleges claims under Texas and Colorado statutory law and Texas common law and seeks actual, special, consequential and treble damages of approximately $4 million and attorneys’ fees and costs. On March 29, 2013, Willis of Colorado, Inc. and Willis of Texas, Inc. (i) removed MacArthur to the U.S. District Court for the Southern District of Texas and (ii) notified the JPML of the pendency of this related action. On April 2, 2013, Willis of Colorado, Inc. and Willis of Texas, Inc. filed a motion in the Southern District of Texas to stay the action pending a determination by the JPML as to whether it should be transferred to the Northern District of Texas for consolidation or coordination with the other Stanford-related actions. Also on April 2, 2013, the court presiding over MacArthur in the Southern District of Texas transferred the action to the Northern District of Texas for consolidation or coordination with the other Stanford-related actions. On September 29, 2014, the parties stipulated to the remand (to Texas state court (Harris County)) and stay of MacArthur until further order of the court (in accordance with the court’s September 9, 2014 decision in Rishmague (discussed above)), which stipulation was ‘so ordered’ by the court on October 14, 2014. The defendants have not yet responded to the complaint in MacArthur.

•

Florida suits: On February 14, 2013, five lawsuits were filed against Willis Group Holdings plc, Willis Limited and Willis of Colorado, Inc. in Florida state court (Miami-Dade County), alleging violations of Florida common law. The five suits are: (1)

Barbar, et al. v. Willis Group Holdings Public Limited Company, et al., Case No. 13-05666CA27, filed on behalf of 35 Stanford investors seeking compensatory damages in excess of $30 million; (2) de Gadala-Maria, et al. v. Willis Group Holdings Public Limited Company, et al., Case No. 13-05669CA30, filed on behalf of 64 Stanford investors seeking compensatory damages in excess of $83.5 million; (3) Ranni, et ano. v. Willis Group Holdings Public Limited Company, et al., Case No. 13-05673CA06, filed on behalf of two Stanford investors seeking compensatory damages in excess of $3 million; (4) Tisminesky, et al. v. Willis Group Holdings Public Limited Company, et al., Case No. 13-05676CA09, filed on behalf of 11 Stanford investors seeking compensatory damages in excess of $6.5 million; and (5) Zacarias, et al. v. Willis Group Holdings Public Limited Company, et al., Case No. 13-05678CA11, filed on behalf of 10 Stanford investors seeking compensatory damages in excess of $12.5 million. On June 3, 2013, Willis of Colorado, Inc. removed all five cases to the Southern District of Florida and, on June 4, 2013, notified the JPML of the pendency of these related actions. On June 10, 2013, the court in Tisminesky issued an order sua sponte staying and administratively closing that action pending a determination by the JPML as to whether it should be transferred to the Northern District of Texas for consolidation and coordination with the other Stanford-related actions. On June 11, 2013, Willis of Colorado, Inc. moved to stay the other four actions pending the JPML’s transfer decision. On June 20, 2013, the JPML issued a conditional transfer order for the transfer of the five actions to the Northern District of Texas, the transmittal of which was stayed for seven days to allow for any opposition to be filed. On June 28, 2013, with no opposition having been filed, the JPML lifted the stay, enabling the transfer to go forward.

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.

•

Janvey, et al. v. Willis of Colorado, Inc., et al., Case No. 3:13-CV-03980-D, was filed on October 1, 2013 also in the Northern District of Texas against Willis Group Holdings plc, Willis Limited, Willis North America Inc., Willis of Colorado, Inc. and the same Willis associate. The complaint was filed (i) by Ralph S. Janvey, in his capacity as Court-Appointed Receiver for the Stanford Receivership Estate, and the Official Stanford Investors Committee (the ‘OSIC’) against all defendants and (ii) on behalf of a putative, worldwide class of Stanford investors against Willis North America Inc. Plaintiffs Janvey and the OSIC allege claims under Texas common law and the court’s Amended Order Appointing Receiver, and the putative class plaintiffs allege claims under Texas statutory and common law. Plaintiffs seek actual damages in excess of $1 billion, punitive damages and costs. As alleged by the Stanford Receiver, the total amount of collective losses allegedly sustained by all investors in Stanford certificates of deposit is approximately $4.6 billion.

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.

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.

•

Martin v. Willis of Colorado, Inc., et al., Case No. 201652115, was filed on August 5, 2016, on behalf of one Stanford investor against Willis Group Holdings plc, Willis Limited, Willis of Colorado, Inc. and the same Willis associate in Texas state court (Harris County). The complaint alleges claims under Texas statutory and common law and seeks actual damages of less than $100,000, exemplary damages, attorneys’ fees and costs. On September 12, 2016, the plaintiff filed an amended complaint, which added five more Stanford investors as plaintiffs and seeks damages in excess of $1 million. The defendants have not yet responded to the amended complaint in Martin.

•

Abel, et al. v. Willis of Colorado, Inc., et al., C.A. No. 3:16-cv-2601, was filed on September 12, 2016, on behalf of more than 300 Stanford investors against Willis Group Holdings plc, Willis Limited, Willis of Colorado, Inc. and the same Willis associate, also in the Northern District of Texas. The complaint alleges claims under Texas statutory and common law and seeks actual damages in excess of $135 million, exemplary damages, attorneys’ fees and costs. On November 10, 2016, the plaintiffs filed an amended complaint, which, among other things, added several more Stanford investors as plaintiffs. The defendants have not yet responded to the complaint in Abel.

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 increased its provisions by $50 million during that quarter. 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, the settlement and the related bar orders described below, if upheld through any appeals, would enable the Company (a newly-combined firm) 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.

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. The parties to the Settlement Agreement 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., Willis of Colorado, Inc. and the Willis associate referenced above (collectively, ‘Defendants’), on the other hand. Under the terms of the Settlement Agreement, the parties agreed to settle and dismiss the Janvey and Troice actions (collectively, the ‘Actions’) and all current or future claims arising from or related to Stanford in exchange for a one-time cash payment to the Receiver by the Company of $120 million 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 Agreement also provides 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, but 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 September 7, 2016, Plaintiffs 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 objected to the settlement, and a hearing to consider final approval of the settlement was held on January 20, 2017, after which the Court reserved decision. On August 23, 2017, the Court approved the settlement, including the bar orders. Several of the objectors appealed the settlement approval and bar orders to

the Fifth Circuit. Oral argument on the appeals was heard on December 3, 2018, and, on July 22, 2019, the Fifth Circuit affirmed the approval of the settlement, including the bar orders. On August 5, 2019, certain of the plaintiff-appellants filed a petition for rehearing by the Fifth Circuit en banc (the ‘Petition’). On August 19, 2019, the Fifth Circuit requested a response to the Petition. On August 29, 2019, the Receiver filed a response to the Petition. On December 19, 2019, the Fifth Circuit granted the Petition (treating it as a petition for panel rehearing), withdrew its July 22, 2019 opinion, and substituted a new opinion that also affirmed the approval of the settlement, including the bar orders. On January 2, 2020, certain of the plaintiff-appellants filed another petition for rehearing by the Fifth Circuit en banc (the ‘Second Petition’), in which the other plaintiff-appellants joined. On January 21, 2020, the Fifth Circuit denied the Second Petition. On June 19, 2020, the plaintiff-appellants filed petitions for writ of certiorari with the United States Supreme Court, which are currently pending.

The Company will not make the $120 million settlement payment until the settlement is not subject to any further appeal.

Aviation Broking Competition Investigations

In October 2017, the European Commission (‘Commission’) disclosed to us that it has initiated civil investigation proceedings in respect of a suspected infringement of E.U. competition rules involving several broking firms, including our principal U.K. broking subsidiary and one of its parent entities. In particular, the Commission has stated that the civil proceedings concern the exchange of commercially sensitive information between competitors in relation to aviation and aerospace insurance and reinsurance broking products and services in the European Economic Area, as well as possible coordination between competitors. The initiation of proceedings does not mean there has been a finding of infringement, merely that the Commission will investigate the case. We are providing information to the Commission as requested.

Since 2017, we have become aware that other countries are conducting their own investigations of the same or similar alleged conduct, including, without limitation, Brazil. In January 2019, the Brazil Conselho Administrativo de Defesa Economica (‘CADE’) launched an administrative proceeding to investigate alleged sharing of competitive and commercially sensitive information in the insurance and reinsurance brokerage industry for aviation and aerospace and related ancillary services. The CADE identified 11 entities under investigation, including Willis Group Limited, one of our U.K. subsidiaries.

Given the status of the above-noted investigations, the Company is currently unable to assess the terms on which they will be resolved, or any other regulatory matter or civil claims emanating from the conduct being investigated, will be resolved, and thus is unable to provide an estimate of the reasonably possible loss or range of loss.

Supplementary Information for Certain Balance Sheet Accounts

6 Months Ended

Jun. 30, 2020

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Supplementary Information for Certain Balance Sheet Accounts

Note 14 — Supplementary Information for Certain Balance Sheet Accounts

Additional details of specific balance sheet accounts are detailed below.

Prepaid and other current assets consist of the following:

	June 30, 2020		December 31, 2019
Prepayments and accrued income	$	132	$	145
Deferred contract costs		75		101
Derivatives and investments		20		49
Deferred compensation plan assets		15		18
Retention incentives		6		11
Corporate income and other taxes		46		56
Restricted cash		7		8
Acquired renewal commissions receivable		15		25
Other current assets		47		112
Total prepaid and other current assets	$	363	$	525

Deferred revenue and accrued expenses consist of the following:

	June 30, 2020		December 31, 2019
Accounts payable, accrued liabilities and deferred income	$	832	$	856
Accrued discretionary and incentive compensation		419		727
Accrued vacation		196		137
Other employee-related liabilities		57		64
Total deferred revenue and accrued expenses	$	1,504	$	1,784

Provision for liabilities consists of the following:

	June 30, 2020		December 31, 2019
Claims, lawsuits and other proceedings	$	452	$	456
Other provisions		82		81
Total provision for liabilities	$	534	$	537

Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Accumulated Other Comprehensive Loss

Note 15 — Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss, net of non-controlling interests, and net of tax are provided in the following tables for the three and six months ended June 30, 2020 and 2019. These tables exclude amounts attributable to non-controlling interests, which are not material for further disclosure.

	Foreign currency translation ⁽ⁱ⁾						Derivative instruments⁽ⁱ⁾						Defined pension and post-retirement benefit costs ⁽ⁱⁱ⁾						Total
	2020			2019			2020			2019			2020			2019			2020			2019
Quarter-to-date activity:
Balance at March 31, 2020 and 2019, respectively	$	(746	)	$	(607	)	$	(5	)	$	3		$	(1,695	)	$	(1,370	)	$	(2,446	)	$	(1,974	)
Other comprehensive income/(loss) before reclassifications		48			(19	)		(3	)		(7	)		6			3			51			(23	)
Loss reclassified from accumulated other comprehensive loss (net of income tax benefit of $7 and $3, respectively)		—			—			2			—			3			4			5			4
Net current-period other comprehensive income/(loss)		48			(19	)		(1	)		(7	)		9			7			56			(19	)
Balance at June 30, 2020 and 2019, respectively	$	(698	)	$	(626	)	$	(6	)	$	(4	)	$	(1,686	)	$	(1,363	)	$	(2,390	)	$	(1,993	)

Year-to-date activity:
Balance at December 31, 2019 and 2018, respectively	$	(538	)	$	(616	)	$	13		$	(8	)	$	(1,702	)	$	(1,337	)	$	(2,227	)	$	(1,961	)
Other comprehensive (loss)/income before reclassifications		(160	)		(10	)		(22	)		(1	)		2			4			(180	)		(7	)
Loss reclassified from accumulated other comprehensive loss (net of income tax benefit of $7 in both 2020 and 2019)		—			—			3			5			14			6			17			11
Net current-period other comprehensive (loss)/income		(160	)		(10	)		(19	)		4			16			10			(163	)		4
Reclassification of tax effects per ASU 2018-02 ⁽ⁱⁱⁱ⁾		—			—			—			—			—			(36	)		—			(36	)
Balance at June 30, 2020 and 2019, respectively	$	(698	)	$	(626	)	$	(6	)	$	(4	)	$	(1,686	)	$	(1,363	)	$	(2,390	)	$	(1,993	)

(i)

Reclassification adjustments from accumulated other comprehensive loss related to derivative instruments are included in Revenue and Salaries and benefits in the accompanying condensed consolidated statements of comprehensive income. See Note 8 — Derivative Financial Instruments for additional details regarding the reclassification adjustments for the derivative settlements.

(ii)	Reclassification adjustments from accumulated other comprehensive loss are included in the computation of net periodic pension cost (see Note 11 — Retirement Benefits). These components are included in Other income, net in the accompanying condensed consolidated statements of comprehensive income.

(iii)

On January 1, 2019, in accordance with ASU 2018-02, we reclassified to Retained earnings $36 million of defined pension and postretirement costs, representing the ‘stranded’ tax effect of the change in the U.S. federal corporate tax rate resulting from U.S. Tax Reform.

Earnings Per Share

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Earnings Per Share

Note 16 — 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 June 30, 2020 and 2019, there were 0.2 million and 0.4 million time-based share options outstanding, respectively. There were 0.3 million performance-based options outstanding at both June 30, 2020 and 2019, and 0.5 million restricted performance-based stock units outstanding at both June 30, 2020 and 2019. The Company’s restricted time-based stock units were immaterial at June 30, 2020 and 2019.

Basic and diluted earnings per share are as follows:

	Three Months Ended June 30,					Six Months Ended June 30,
	2020			2019		2020			2019
Net income attributable to Willis Towers Watson	$	94		$	138	$	399		$	425

Basic average number of shares outstanding		129			130		130			130
Dilutive effect of potentially issuable shares		1			—		—			—
Diluted average number of shares outstanding		130			130		130			130

Basic earnings per share	$	0.73		$	1.06	$	3.08		$	3.27
Dilutive effect of potentially issuable shares		(0.01	)		—		(0.01	)		(0.01	)
Diluted earnings per share	$	0.72		$	1.06	$	3.07		$	3.26

There were no anti-dilutive options or restricted stock units for the three and six months ended June 30, 2020 and 2019.

Basis of Presentation and Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited quarterly condensed consolidated financial statements of Willis Towers Watson and our subsidiaries are presented in accordance with the rules and regulations of the SEC for quarterly reports on Form 10-Q and therefore do not include all of the information and footnotes required by U.S. GAAP. In the opinion of management, these condensed consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, which are necessary for a fair presentation of the condensed consolidated financial statements and results for the interim periods. All intercompany accounts and transactions have been eliminated in consolidation. The condensed consolidated financial statements should be read together with the Company’s Annual Report on Form 10-K, filed with the SEC on February 26, 2020, and may be accessed via EDGAR on the SEC’s web site at www.sec.gov. The results of operations for the three and six months ended June 30, 2020 are not necessarily indicative of the results that can be expected for the entire year. The Company experiences seasonal fluctuations of its revenue. Revenue is typically higher during the Company’s first and fourth quarters due primarily to the timing of broking-related activities. The results reflect certain estimates and assumptions made by management, including those estimates used in calculating acquisition consideration and fair value of tangible and intangible assets and liabilities, professional liability claims, estimated bonuses, valuation of billed and unbilled receivables, and anticipated tax liabilities that affect the amounts reported in the condensed consolidated financial statements and related notes.
Risks and Uncertainties Related to the COVID-19 Pandemic	Risks and Uncertainties Related to the COVID-19 Pandemic The COVID-19 pandemic has had an adverse impact on global commercial activity, including the global supply chain, and has contributed to significant volatility in the financial markets including, among other effects, occasional declines in the equity markets, changes in interest rates and reduced liquidity on a global basis. In light of the effects on our own business operations and those of our clients, suppliers and other third parties with whom we interact, the Company has considered the impact of COVID-19 on our business. This analysis takes into account our business resilience and continuity plans, financial modeling and stress testing of liquidity and financial resources. The analysis concluded that the COVID-19 pandemic did not have a material adverse impact to our financial results for the first quarter of 2020; however, we expected that the impact of COVID-19 on general economic activity could negatively impact our revenue and operating results for the remainder of 2020. During the second quarter of 2020, the COVID-19 pandemic had a negative impact on revenue growth, particularly in our businesses that are discretionary in nature, but otherwise it generally had no material impact on our overall results. Some of our discretionary, project-based businesses saw a reduction in demand, and potential negative impacts on our revenue and operating results may lag behind the developments thus far related to the COVID-19 pandemic. Also, the increased frequency and severity of coverage disputes between our clients and (re)insurers arising out of the pandemic could increase our professional liability risk. We will continue to monitor the situation and assess possible implications to our business and our stakeholders. The extent to which COVID-19 impacts our business and financial position will depend on future developments, which are difficult to predict. These future developments may include the severity and scope of the COVID-19 outbreak, which may unexpectedly change or worsen, and the types and duration of measures imposed by governmental authorities to contain the virus or address its impact. We continue to expect that the COVID-19 pandemic will negatively impact our revenue and operating results for the remainder of 2020 and potentially beyond. The Company has considered multiple scenarios, with both positive and negative inputs, as part of the significant estimates and assumptions that are inherent in our financial statements. These inputs are based on trends in client behavior and the economic environment throughout the first half of 2020 as COVID-19 has moved throughout the geographies in which we operate. These estimates and assumptions include the collectability of billed and unbilled receivables, the estimation of revenue, and the fair value of our reporting units, tangible and intangible assets and contingent consideration. With regard to collectability, the Company believes it may face atypical delays in client payments going forward. In addition, we believe that the demand for certain discretionary lines of business has decreased, and that such decrease will impact our financial results in succeeding periods. Non-discretionary lines of business may also be adversely affected, for example because reduced economic activity or disruption in insurance markets reduces demand for or the extent of insurance coverage. We believe that these trends and uncertainties are comparable to those faced by other registrants as a result of the pandemic. CARES Act On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (‘CARES’) Act was enacted in the U.S. to provide relief to companies in the midst of the COVID-19 pandemic and to stimulate the economy. The assistance includes temporary tax relief and government loans, grants and investments for entities in affected industries. With regard to the income tax provisions of the CARES Act, the Company has reviewed its eligibility requirements, including if and how they apply and how they will affect the Company, particularly provisions that (i) eliminate the taxable income limit for certain net operating losses (‘NOLs’) and allow businesses to carry back NOLs arising in 2018, 2019 and 2020 to the five prior tax years; (ii) generally relaxed the business interest limitation under section 163(j) from 30 percent to 50 percent; and (iii) fix the ‘retail glitch’ for qualified improvement property. During the three months ended June 30, 2020, the Company elected to use the section 163(j) 50 percent business interest limitation for tax years 2019 and 2020. Utilizing this temporary provision, the Company accelerated a cash tax benefit in 2020 of approximately $40 million for tax years 2019 and 2020. Moreover, the Company will recognize tax expense of approximately $25 million and $22 million for the 2019 and 2020 tax years, respectively, primarily related to an incremental Base Erosion and Anti-Abuse Tax (‘BEAT’). During the quarter, the Company recorded tax expense of $35 million relating to the 2019 and 2020 tax years, and expects to recognize the remaining $12 million BEAT expense during the remainder of 2020. Additionally, the CARES Act offers an employee retention credit to encourage employers to maintain headcounts even if employees cannot report to work because of issues related to COVID-19 as well as a temporary provision allowing companies to defer remitting the employer share of some payroll taxes to the government. The payroll tax provisions of the CARES Act were not material for the six months ended June 30, 2020 and are currently not expected to be material for calendar year 2020.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Not Yet Adopted In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes, which clarifies and amends existing guidance, including removing certain exceptions to the general principles of accounting for income taxes. This ASU becomes effective for the Company on January 1, 2021. Some of the changes must be applied on a retrospective or modified retrospective basis while others must be applied on a prospective basis. Early adoption is permitted. The Company does not plan to adopt this ASU early and is assessing the expected impact on our condensed consolidated financial statements. Adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses: Measurement of Credit Losses on Financial Instruments, which amended the guidance on the impairment of financial instruments. The ASU added an impairment model (known as the current expected credit loss (‘CECL’) model) that is based on expected losses rather than incurred losses. Under the new guidance, an entity recognizes as an allowance its estimate of lifetime expected credit losses on assets measured at amortized cost, which is intended to result in more timely recognition of such losses. The ASU was also intended to reduce the complexity of U.S. GAAP by decreasing the number of credit impairment models that entities use to account for debt instruments. Further, the ASU made targeted changes to the impairment model for available-for-sale debt securities. Additional ASUs were subsequently issued which provided amended and additional guidance for the implementation of ASU No. 2016-13. All related guidance has been codified into, and is now known as, ASC 326, Financial Instruments—Credit Losses (‘ASC 326’). ASC 326 became effective for the Company on January 1, 2020, at which time we adopted it. This ASU did not have a material impact on our condensed 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, previous U.S. GAAP required 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 is 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 would 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 became effective for the Company on January 1, 2020, at which time we adopted it. The amendments in this ASU are applied on a prospective basis. There is no immediate impact to our condensed consolidated financial statements upon adopting this ASU, until such time as the next goodwill impairment test is performed (October 1, 2020, or sooner should circumstances warrant it). The most recent Step 1 goodwill impairment test resulted in fair values in excess of carrying values for all reporting units at October 1, 2019. In August 2018, the FASB issued ASU 2018-13, Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement as part of its disclosure framework project. The focus of this project is to improve the effectiveness of disclosures in the notes to the financial statements by facilitating clear communication of the information required by U.S. GAAP that is most important to users of an entity’s financial statements. This ASU removes certain disclosure requirements and adds or modifies other requirements. This ASU was effective for the Company on January 1, 2020, at which time we adopted it. Certain provisions of the ASU were required to be adopted retrospectively, while others were required to be adopted prospectively. This ASU did not have a material impact on the notes to our condensed consolidated financial statements. In March 2020, the SEC issued a final rule that amends the disclosure requirements related to certain registered securities under SEC Regulation S-X, Rules 3-10 and 3-16 which currently require separate financial statements for subsidiary issuers and guarantors of registered debt securities unless certain exceptions are met, and affiliates that collateralize registered securities offerings if the affiliates’ securities are a substantial portion of the collateral. The final rule is generally effective for filings on or after January 4, 2021, however early application is permitted. The most pertinent portions of the final rule that are currently applicable to the Company include: (i) replacing the previous requirement under Rule 3-10 to provide condensed consolidating financial information in the registrant’s financial statements with a requirement to provide alternative financial disclosures (which include summarized financial information of the parent and any issuers and guarantors, as well as other qualitative disclosures) in either the registrant’s Management’s Discussion & Analysis section or its financial statements; and, (ii) reducing the periods for which summarized financial information is required to the most recent annual period and year-to-date interim period. The Company elected to early-adopt the provisions of the final rule during the three months ended March 31, 2020. Further, the new reduced quantitative disclosures and accompanying qualitative disclosures as required by this final rule are in Item II, Management’s Discussion and Analysis of Financial Condition and Results of Operations on this Form 10-Q. In March 2020, the FASB issued ASU No. 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for accounting for contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. This ASU became effective for the Company on March 12, 2020. The Company may apply the changes relating to contracts from January 1, 2020 or from a later date. The Company has made no contract modifications thus far to transition to a different reference rate, however it will consider this guidance as future modifications are made.

Basis of Presentation, Significant Accounting Policies and Recent Accounting Pronouncements (Policies)

6 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

Fair Value of Financial Instruments

•

Level 1: refers to fair values determined based on quoted market prices in active markets for identical assets;

•

Level 2: refers to fair values estimated using observable market-based inputs or unobservable inputs that are corroborated by market data; and

•

Level 3: includes fair values estimated using unobservable inputs that are not corroborated by market data.

The following methods and assumptions were used by the Company in estimating its fair value disclosure for financial instruments:

•

Available-for-sale securities are classified as Level 1 because we use quoted market prices in determining the fair value of these securities.

•

Acquisitions and Divestitures (Tables)

6 Months Ended

Jun. 30, 2020

Business Combinations [Abstract]

Summary of Preliminary Fair Values of Identifiable Assets Acquired and Liabilities Assumed

A summary of the preliminary fair values of the identifiable assets acquired, and liabilities assumed, of TRANZACT at July 30, 2019 are summarized in the following table.

Cash and cash equivalents	$	7
Restricted cash		2
Accounts receivable, net		3
Renewal commissions receivable, current ⁽ⁱ⁾		36
Prepaid and other current assets		22
Renewal commissions receivable, non-current ⁽ⁱ⁾		130
Fixed assets		9
Intangible assets		646
Goodwill		722
Right-of-use assets		19
Other non-current assets		2
Collateralized facility		(91	)
Other current liabilities		(55	)
Deferred tax liabilities, net		(104	)
Lease liabilities		(19	)
Net assets acquired	$	1,329

______________

(i)

Revenue (Tables)

6 Months Ended

Jun. 30, 2020

Revenue From Contract With Customer [Abstract]

Disaggregation of Revenue

The following tables present revenue by service offering and segment, as well as reconciliations to total revenue for the three and six months ended June 30, 2020 and 2019. Along with reimbursable expenses and other, total revenue by service offering represents our revenue from customer contracts.

	Three Months Ended June 30,
	HCB				CRB				IRR				BDA				Corporate ⁽ⁱ⁾				Total
	2020		2019		2020		2019		2020		2019		2020		2019		2020		2019		2020		2019
Broking	$	71	$	64	$	637	$	633	$	258	$	249	$	90	$	9	$	—	$	—	$	1,056	$	955
Consulting		531		571		40		36		95		100		—		—		2		3		668		710
Outsourced administration		122		101		16		13		3		3		119		117		—		—		260		234
Other		41		56		1		1		55		52		—		—		1		1		98		110
Total revenue by service offering		765		792		694		683		411		404		209		126		3		4		2,082		2,009
Reimbursable expenses and other ⁽ⁱ⁾		11		15		1		—		1		2		2		2		4		2		19		21
Total revenue from customer contracts	$	776	$	807	$	695	$	683	$	412	$	406	$	211	$	128	$	7	$	6	$	2,101	$	2,030
Interest and other income ⁽ⁱⁱ⁾		2		5		7		7		2		5		—		—		1		1		12		18
Total revenue	$	778	$	812	$	702	$	690	$	414	$	411	$	211	$	128	$	8	$	7	$	2,113	$	2,048

	Six Months Ended June 30,
	HCB				CRB				IRR				BDA				Corporate ⁽ⁱ⁾				Total
	2020		2019		2020		2019		2020		2019		2020		2019		2020		2019		2020		2019
Broking	$	154	$	137	$	1,285	$	1,293	$	691	$	654	$	188	$	12	$	—	$	—	$	2,318	$	2,096
Consulting		1,113		1,151		87		67		188		214		—		—		4		6		1,392		1,438
Outsourced administration		250		224		41		40		6		5		252		249		—		—		549		518
Other		88		103		2		2		138		110		—		—		2		2		230		217
Total revenue by service offering		1,605		1,615		1,415		1,402		1,023		983		440		261		6		8		4,489		4,269
Reimbursable expenses and other ⁽ⁱ⁾		26		29		1		—		4		4		5		5		10		9		46		47
Total revenue from customer contracts	$	1,631	$	1,644	$	1,416	$	1,402	$	1,027	$	987	$	445	$	266	$	16	$	17	$	4,535	$	4,316
Interest and other income ⁽ⁱⁱ⁾		12		11		25		16		5		15		—		—		2		2		44		44
Total revenue	$	1,643	$	1,655	$	1,441	$	1,418	$	1,032	$	1,002	$	445	$	266	$	18	$	19	$	4,579	$	4,360

______________

(i)	Reimbursable expenses and other, as well as Corporate revenue, are excluded from segment revenue, but included in total revenue on the condensed consolidated statements of comprehensive income.

(ii)	Interest and other income is included in segment revenue and total revenue, however it has been presented separately in the above tables because it does not arise directly from contracts with customers.

	Three Months Ended June 30,
	HCB				CRB				IRR				BDA				Corporate				Total
	2020		2019		2020		2019		2020		2019		2020		2019		2020		2019		2020		2019
North America	$	462	$	478	$	296	$	274	$	117	$	117	$	207	$	126	$	2	$	4	$	1,084	$	999
Great Britain		117		120		160		172		207		196		—		—		—		—		484		488
Western Europe		119		124		127		128		49		51		—		—		1		—		296		303
International		67		70		111		109		38		40		2		—		—		—		218		219
Total revenue by geography	$	765	$	792	$	694	$	683	$	411	$	404	$	209	$	126	$	3	$	4	$	2,082	$	2,009

	Six Months Ended June 30,
	HCB				CRB				IRR				BDA				Corporate				Total
	2020		2019		2020		2019		2020		2019		2020		2019		2020		2019		2020		2019
North America	$	938	$	949	$	529	$	494	$	287	$	281	$	436	$	261	$	4	$	8	$	2,194	$	1,993
Great Britain		243		238		297		314		528		496		—		—		—		—		1,068		1,048
Western Europe		275		279		371		367		125		120		—		—		2		—		773		766
International		149		149		218		227		83		86		4		—		—		—		454		462
Total revenue by geography	$	1,605	$	1,615	$	1,415	$	1,402	$	1,023	$	983	$	440	$	261	$	6	$	8	$	4,489	$	4,269

Contract with Customer, Asset and Liability

	June 30, 2020		December 31, 2019
Billed receivables, net of allowance for doubtful accounts of $57 million and $37 million	$	1,744	$	1,831
Unbilled receivables		452		434
Current contract assets		234		356
Accounts receivable, net	$	2,430	$	2,621
Non-current accounts receivable, net	$	33	$	30
Non-current contract assets	$	172	$	105
Deferred revenue	$	558	$	538

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

•

Performance obligations which are part of a contract that has an original expected duration of less than one year, and

•

Performance obligations satisfied in accordance with ASC 606-10-55-18 (‘right to invoice’).

		Remainder of 2020				2021				2022 onward				Total
Revenue expected to be recognized on contracts as of June 30, 2020		$	283			$	441			$	611			$	1,335

Segment Information (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following table presents segment revenue and segment operating income for our reportable segments for the three months ended June 30, 2020 and 2019.

	Three Months Ended June 30,
	HCB				CRB				IRR				BDA						Total
	2020		2019		2020		2019		2020		2019		2020			2019			2020		2019
Segment revenue	$	767	$	797	$	701	$	690	$	413	$	409	$	209		$	126		$	2,090	$	2,022

Segment operating income/(loss)	$	160	$	169	$	135	$	104	$	119	$	109	$	(9	)	$	(25	)	$	405	$	357

The following table presents segment revenue and segment operating income for our reportable segments for the six months ended June 30, 2020 and 2019.

	Six Months Ended June 30,
	HCB				CRB				IRR				BDA						Total
	2020		2019		2020		2019		2020		2019		2020			2019			2020		2019
Segment revenue	$	1,617	$	1,626	$	1,440	$	1,418	$	1,028	$	998	$	440		$	261		$	4,525	$	4,303

Segment operating income/(loss)	$	373	$	373	$	262	$	231	$	396	$	361	$	(20	)	$	(46	)	$	1,011	$	919

Net Operating Income of the Reported Segments

	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
Revenue:
Total segment revenue	$	2,090		$	2,022		$	4,525		$	4,303
Reimbursable expenses and other		23			26			54			57
Revenue	$	2,113		$	2,048		$	4,579		$	4,360

Total segment operating income	$	405		$	357		$	1,011		$	919
Amortization		(119	)		(123	)		(240	)		(250	)
Transaction and integration expenses ⁽ⁱ⁾		(14	)		—			(23	)		(6	)
Unallocated, net ⁽ⁱⁱ⁾		(109	)		(58	)		(225	)		(128	)
Income from operations		163			176			523			535
Interest expense		(62	)		(56	)		(123	)		(110	)
Other income, net		76			67			168			122
Income from operations before income taxes	$	177		$	187		$	568		$	547

(i)	Includes transaction costs related to the proposed Aon combination and TRANZACT acquisition in 2019.

(ii)	Includes certain costs, primarily related to corporate functions which are not directly related to the segments, and certain differences between budgeted expenses determined at the beginning of the year and actual expenses that we report for U.S. GAAP purposes.

Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Components of Goodwill

The components of goodwill are outlined below for the six months ended June 30, 2020:

	HCB			CRB			IRR			BDA			Total
Balance at December 31, 2019:
Goodwill, gross	$	4,298		$	2,309		$	1,795		$	3,284		$	11,686
Accumulated impairment losses		(130	)		(362	)		—			—			(492	)
Goodwill, net - December 31, 2019		4,168			1,947			1,795			3,284			11,194
Goodwill acquired		15			28			—			—			43
Goodwill disposals		—			(1	)		—			—			(1	)
Acquisition accounting adjustment		—			—			—			(5	)		(5	)
Foreign exchange		(13	)		(9	)		(13	)		—			(35	)
Balance at June 30, 2020:
Goodwill, gross		4,300			2,327			1,782			3,279			11,688
Accumulated impairment losses		(130	)		(362	)		—			—			(492	)
Goodwill, net - June 30, 2020	$	4,170		$	1,965		$	1,782		$	3,279		$	11,196

Changes in the Net Carrying Amount of the Components of Finite-Lived Intangible Assets

The following table reflects changes in the net carrying amounts of the components of finite-lived intangible assets for the six months ended June 30, 2020:

	Client relationships			Software			Trademark and trade name			Other			Total
Balance at December 31, 2019:
Intangible assets, gross	$	4,029		$	753		$	1,051		$	134		$	5,967
Accumulated amortization		(1,731	)		(551	)		(176	)		(31	)		(2,489	)
Intangible assets, net - December 31, 2019		2,298			202			875			103			3,478
Intangible assets acquired		18			—			—			32			50
Intangible asset disposals		(2	)		—			—			—			(2	)
Amortization		(152	)		(55	)		(22	)		(11	)		(240	)
Foreign exchange		(26	)		(3	)		—			—			(29	)
Balance at June 30, 2020:
Intangible assets, gross		3,992			741			1,051			165			5,949
Accumulated amortization		(1,856	)		(597	)		(198	)		(41	)		(2,692	)
Intangible assets, net - June 30, 2020	$	2,136		$	144		$	853		$	124		$	3,257

Schedule of Future Estimated Amortization Expense for Amortizable Intangible Assets

The table below reflects the future estimated amortization expense for amortizable intangible assets for the remainder of 2020 and for subsequent years:

	Amortization
Remainder of 2020	$	209
2021		376
2022		318
2023		268
2024		237
Thereafter		1,849
Total	$	3,257

Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2020

Designated [Member]

Schedule of Derivative Instruments Designated/Nondesignated As Hedging Instrument Effect on Condensed Consolidated Statements of Comprehensive Income

	Loss recognized in OCI (effective element)
	Three months ended June 30,						Six months ended June 30,
	2020			2019			2020			2019
Forward exchange contracts	$	(3	)	$	(10	)	$	(27	)	$	(2	)

Location of loss reclassified from Accumulated OCL into income (effective element)	Loss reclassified from Accumulated OCL into income (effective element)
	Three months ended June 30,						Six months ended June 30,
	2020			2019			2020			2019
Revenue	$	(1	)	$	(3	)	$	(1	)	$	(2	)
Salaries and benefits		(1	)		1			(3	)		(4	)
	$	(2	)	$	(2	)	$	(4	)	$	(6	)

Nondesignated [Member]

Schedule of Derivative Instruments Designated/Nondesignated As Hedging Instrument Effect on Condensed Consolidated Statements of Comprehensive Income

		Loss/(gain) recognized in income
		Three Months Ended June 30,					Six Months Ended June 30,
Derivatives not designated as hedging instruments:	Location of (loss)/gain recognized in income	2020			2019		2020			2019
Forward exchange contracts	Other income, net	$	(8	)	$	6	$	(20	)	$	(4	)

Debt (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Schedule of Current and Long-term Debt

Current debt consists of the following:

	June 30, 2020		December 31, 2019
5.750% senior notes due 2021	$	500	$	—
Current portion of collateralized facility		25		24
Term loan due 2020		—		292
	$	525	$	316

Long-term debt consists of the following:

	June 30, 2020		December 31, 2019
Revolving $1.25 billion credit facility	$	—	$	—
Collateralized facility ⁽ⁱ⁾		44		60
5.750% senior notes due 2021		—		499
3.500% senior notes due 2021		448		448
2.125% senior notes due 2022⁽ⁱⁱ⁾		605		604
4.625% senior notes due 2023		249		249
3.600% senior notes due 2024		647		646
4.400% senior notes due 2026		546		546
4.500% senior notes due 2028		595		595
2.950% senior notes due 2029		726		446
6.125% senior notes due 2043		271		271
5.050% senior notes due 2048		395		395
3.875% senior notes due 2049		542		542
	$	5,068	$	5,301

(i)	At June 30, 2020 and December 31, 2019, the Company had $112 million and $127 million, respectively, of renewal commissions receivables pledged as collateral for this facility.

(ii)	Notes issued in Euro (€540 million)

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present our assets and liabilities measured at fair value on a recurring basis at June 30, 2020 and December 31, 2019:

		Fair Value Measurements on a Recurring Basis at June 30, 2020
	Balance Sheet Location	Level 1		Level 2		Level 3		Total
Assets:
Available-for-sale securities:
Mutual funds / exchange traded funds	Prepaid and other current assets and other non-current assets	$	7	$	—	$	—	$	7
Derivatives:
Derivative financial instruments ⁽ⁱ⁾	Prepaid and other current assets and other non-current assets	$	—	$	3	$	—	$	3
Liabilities:
Contingent consideration:
Contingent consideration ⁽ⁱⁱ⁾	Other current liabilities and other non-current liabilities	$	—	$	—	$	22	$	22
Derivatives:
Derivative financial instruments ⁽ⁱ⁾	Other current liabilities and other non-current liabilities	$	—	$	18	$	—	$	18

		Fair Value Measurements on a Recurring Basis at December 31, 2019
	Balance Sheet Location	Level 1		Level 2		Level 3		Total
Assets:
Available-for-sale securities:
Mutual funds / exchange traded funds	Prepaid and other current assets and other non-current assets	$	20	$	—	$	—	$	20
Derivatives:
Derivative financial instruments ⁽ⁱ⁾	Prepaid and other current assets and other non-current assets	$	—	$	32	$	—	$	32
Liabilities:
Contingent consideration:
Contingent consideration ⁽ⁱⁱ⁾	Other current liabilities and other non-current liabilities	$	—	$	—	$	17	$	17
Derivatives:
Derivative financial instruments ⁽ⁱ⁾	Other current liabilities and other non-current liabilities	$	—	$	3	$	—	$	3

(i)	See Note 8 — Derivative Financial Instruments for further information on our derivative investments.

(ii)

Schedule of Change in Fair Value of Level 3 Liabilities

The following table summarizes the change in fair value of the Level 3 liabilities:

Fair Value Measurements Using Significant Unobservable Inputs (Level 3)	June 30, 2020
Balance at December 31, 2019	$	17
Obligations assumed		2
Payments		—
Realized and unrealized losses		3
Foreign exchange		—
Balance at June 30, 2020	$	22

Schedule of Liabilities Whose Carrying Values Differ From the Fair Value and are Not Measured on a Recurring Basis

The following tables present our liabilities not measured at fair value on a recurring basis at June 30, 2020 and December 31, 2019:

	June 30, 2020				December 31, 2019
	Carrying Value		Fair Value		Carrying Value		Fair Value
Liabilities:
Current debt	$	525	$	540	$	316	$	319
Long-term debt	$	5,068	$	5,732	$	5,301	$	5,694

Retirement Benefits (Tables)

6 Months Ended

Jun. 30, 2020

Compensation And Retirement Disclosure [Abstract]

Schedule of Net Periodic Benefit Cost

	Three Months Ended June 30,
	2020												2019
	U.S.			U.K.			Other			PRW			U.S.			U.K.			Other			PRW
Service cost	$	18		$	3		$	5		$	—		$	16		$	3		$	5		$	—
Interest cost		33			18			3			—			39			23			5			1
Expected return on plan assets		(72	)		(59	)		(9	)		—			(63	)		(62	)		(8	)		—
Settlement		2			1			—			—			—			—			—			—
Amortization of net loss		8			5			2			1			5			5			—			—
Amortization of prior service credit		—			(4	)		—			(1	)		—			(4	)		—			(1	)
Net periodic benefit (income)/cost	$	(11	)	$	(36	)	$	1		$	—		$	(3	)	$	(35	)	$	2		$	—

	Six Months Ended June 30,
	2020												2019
	U.S.			U.K.			Other			PRW			U.S.			U.K.			Other			PRW
Service cost	$	36		$	7		$	10		$	—		$	32		$	7		$	10		$	—
Interest cost		66			36			7			1			79			47			9			2
Expected return on plan assets		(145	)		(121	)		(17	)		—			(127	)		(125	)		(15	)		—
Settlement		2			1			—			—			—			—			—			—
Amortization of net loss		17			11			2			1			10			10			1			—
Amortization of prior service credit		—			(8	)		—			(2	)		—			(8	)		—			(2	)
Net periodic benefit (income)/cost	$	(24	)	$	(74	)	$	2		$	—		$	(6	)	$	(69	)	$	5		$	—

Leases (Tables)

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Schedule of Lease Costs Recorded in Condensed Consolidated Statements of Comprehensive Income

The following tables present lease costs recorded on our condensed consolidated statements of comprehensive income for the three and six months ended June 30, 2020 and 2019.

	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
Finance lease cost:
Amortization of right-of-use assets	$	—		$	—		$	1		$	1
Interest on lease liabilities		1			1			2			2
Operating lease cost		46			46			93			94
Short-term lease cost		—			—			—			—
Variable lease cost		13			17			23			30
Sublease income		(5	)		(4	)		(10	)		(8	)
Total lease cost, net	$	55		$	60		$	109		$	119

Supplementary Information for Certain Balance Sheet Accounts (Tables)

6 Months Ended

Jun. 30, 2020

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Schedule of Prepaid and Other Current Assets

Prepaid and other current assets consist of the following:

	June 30, 2020		December 31, 2019
Prepayments and accrued income	$	132	$	145
Deferred contract costs		75		101
Derivatives and investments		20		49
Deferred compensation plan assets		15		18
Retention incentives		6		11
Corporate income and other taxes		46		56
Restricted cash		7		8
Acquired renewal commissions receivable		15		25
Other current assets		47		112
Total prepaid and other current assets	$	363	$	525

Deferred Revenue and Accrued Liabilities

Deferred revenue and accrued expenses consist of the following:

	June 30, 2020		December 31, 2019
Accounts payable, accrued liabilities and deferred income	$	832	$	856
Accrued discretionary and incentive compensation		419		727
Accrued vacation		196		137
Other employee-related liabilities		57		64
Total deferred revenue and accrued expenses	$	1,504	$	1,784

Provisions for Liabilities

Provision for liabilities consists of the following:

	June 30, 2020		December 31, 2019
Claims, lawsuits and other proceedings	$	452	$	456
Other provisions		82		81
Total provision for liabilities	$	534	$	537

Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

	Foreign currency translation ⁽ⁱ⁾						Derivative instruments⁽ⁱ⁾						Defined pension and post-retirement benefit costs ⁽ⁱⁱ⁾						Total
	2020			2019			2020			2019			2020			2019			2020			2019
Quarter-to-date activity:
Balance at March 31, 2020 and 2019, respectively	$	(746	)	$	(607	)	$	(5	)	$	3		$	(1,695	)	$	(1,370	)	$	(2,446	)	$	(1,974	)
Other comprehensive income/(loss) before reclassifications		48			(19	)		(3	)		(7	)		6			3			51			(23	)
Loss reclassified from accumulated other comprehensive loss (net of income tax benefit of $7 and $3, respectively)		—			—			2			—			3			4			5			4
Net current-period other comprehensive income/(loss)		48			(19	)		(1	)		(7	)		9			7			56			(19	)
Balance at June 30, 2020 and 2019, respectively	$	(698	)	$	(626	)	$	(6	)	$	(4	)	$	(1,686	)	$	(1,363	)	$	(2,390	)	$	(1,993	)

Year-to-date activity:
Balance at December 31, 2019 and 2018, respectively	$	(538	)	$	(616	)	$	13		$	(8	)	$	(1,702	)	$	(1,337	)	$	(2,227	)	$	(1,961	)
Other comprehensive (loss)/income before reclassifications		(160	)		(10	)		(22	)		(1	)		2			4			(180	)		(7	)
Loss reclassified from accumulated other comprehensive loss (net of income tax benefit of $7 in both 2020 and 2019)		—			—			3			5			14			6			17			11
Net current-period other comprehensive (loss)/income		(160	)		(10	)		(19	)		4			16			10			(163	)		4
Reclassification of tax effects per ASU 2018-02 ⁽ⁱⁱⁱ⁾		—			—			—			—			—			(36	)		—			(36	)
Balance at June 30, 2020 and 2019, respectively	$	(698	)	$	(626	)	$	(6	)	$	(4	)	$	(1,686	)	$	(1,363	)	$	(2,390	)	$	(1,993	)

(i)

(ii)	Reclassification adjustments from accumulated other comprehensive loss are included in the computation of net periodic pension cost (see Note 11 — Retirement Benefits). These components are included in Other income, net in the accompanying condensed consolidated statements of comprehensive income.

(iii)

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings Per Share

Basic and diluted earnings per share are as follows:

	Three Months Ended June 30,					Six Months Ended June 30,
	2020			2019		2020			2019
Net income attributable to Willis Towers Watson	$	94		$	138	$	399		$	425

Basic average number of shares outstanding		129			130		130			130
Dilutive effect of potentially issuable shares		1			—		—			—
Diluted average number of shares outstanding		130			130		130			130

Basic earnings per share	$	0.73		$	1.06	$	3.08		$	3.27
Dilutive effect of potentially issuable shares		(0.01	)		—		(0.01	)		(0.01	)
Diluted earnings per share	$	0.72		$	1.06	$	3.07		$	3.26

Nature of Operations (Details)	Jun. 30, 2020 Employee Country
Minority Interest [Line Items]
Number of employees employed (more than 00,000) \| Employee	45,000
Number of countries in which entity operates (more than 140) \| Country	140
Proposed Combination with AON Plc [Member]
Minority Interest [Line Items]
Number of shares receivable upon acquisition	1.08
Proposed Combination with AON Plc [Member] \| Aon Plc [Member]
Minority Interest [Line Items]
Percentage of ownership by parent	63.00%
Proposed Combination with AON Plc [Member] \| Willis Towers Watson Public Limited Company [Member]
Minority Interest [Line Items]
Percentage of ownership by non-controlling owner	37.00%

Basis of Presentation and Recent Accounting Pronouncements - Narrative (Details) - USD ($) $ in Millions			3 Months Ended		6 Months Ended
	Mar. 27, 2020	Mar. 26, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Business interest deductions percentage		30.00%
Accelerated cash tax benefit			$ 46		$ 46		$ 56
Income tax expense			75	$ 38	153	$ 105
CARES [Member]
Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Business interest deductions percentage	50.00%
Income tax expense			35
CARES [Member] \| BEAT [Member]
Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Unrecognized income tax expense remaining			$ 12		12
CARES [Member] \| Tax Year 2019 and 2020 [Member]
Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Business interest deductions percentage			50.00%
Accelerated cash tax benefit			$ 40		$ 40
Income tax expense			35
CARES [Member] \| Tax Year 2019 [Member] \| BEAT [Member]
Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Income tax expense			25
CARES [Member] \| Tax Year 2020 [Member] \| BEAT [Member]
Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Income tax expense			$ 22

Acquisitions and Divestitures - Narrative (Details) - USD ($)		3 Months Ended		6 Months Ended
	Jul. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Business Acquisition [Line Items]
Intangible assets				$ 50,000,000
Revenue		$ 2,113,000,000	$ 2,048,000,000	4,579,000,000	$ 4,360,000,000
Customer Relationships [Member]
Business Acquisition [Line Items]
Intangible assets				18,000,000
TRANZACT Acquisition [Member]
Business Acquisition [Line Items]
Business acquisition, effective date of acquisition	Jul. 30, 2019
Consideration paid in cash	$ 1,300,000,000
Business combination, contingent consideration arrangements, range of outcomes, value, high	17,000,000
Revenue		87,000,000		182,000,000
TRANZACT Acquisition [Member] \| Customer Relationships [Member]
Business Acquisition [Line Items]
Intangible assets	$ 612,000,000
Intangible assets expected life	15 years 4 months 24 days
TRANZACT Acquisition [Member] \| Term Loan [Member]
Business Acquisition [Line Items]
Debt instrument, term	1 year
TRANZACT Acquisition [Member] \| Term Loan [Member] \| Maximum [Member]
Business Acquisition [Line Items]
Debt instrument, face amount	$ 1,100,000,000
Other Acquisitions [Member]
Business Acquisition [Line Items]
Consideration paid in cash				72,000,000
Contingent consideration estimated fair value		$ 2,000,000		$ 2,000,000

Acquisitions and Divestitures - Summary of Preliminary Fair Values of Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($)
$ in Millions

Jun. 30, 2020

Dec. 31, 2019

Jul. 30, 2019

Business Acquisition [Line Items]

Goodwill

$ 11,196

$ 11,194

TRANZACT Acquisition [Member]

Business Acquisition [Line Items]

Cash and cash equivalents

$ 7

Restricted cash

Accounts receivable, net

Renewal commissions receivable, current

^[1]

Prepaid and other current assets

Renewal commissions receivable, non-current

^[1]

130

646

722

Other non-current assets

Collateralized facility

(91)

Other current liabilities

(55)

Deferred tax liabilities, net

(104)

Lease liabilities

(19)

Net assets acquired

$ 1,329

[1]

Acquisitions and Divestitures - Summary of Preliminary Fair Values of Identifiable Assets Acquired and Liabilities Assumed (Parenthetical) (Details) $ in Millions	Jul. 30, 2019 USD ($)
TRANZACT Acquisition [Member]
Business Acquisition [Line Items]
Receivables prior to fair value adjustment	$ 231

Acquisitions and Divestitures - Max Matthiessen Divestiture (Details) - Max Matthiessen [Member] kr in Millions, $ in Millions	1 Months Ended
	May 31, 2020	Sep. 30, 2020 USD ($)	Sep. 30, 2020 SEK (kr)
Forecast [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Total consideration received from sale of subsidiary		$ 248	kr 2,300
Notes receivable repayable by purchaser		$ 64	kr 600
Minimum [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Disposal group including discontinued operation notes payable interest rate	5.00%
Maximum [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Disposal group including discontinued operation notes payable interest rate	10.00%

Revenue - Schedule of Disaggregation of Revenue (Details) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

Revenue from Contract with Customer, Excluding Assessed Tax

$ 2,101

$ 2,030

$ 4,535

$ 4,316

^[1]

2,113

2,048

4,579

4,360

Broking [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

1,056

955

2,318

2,096

Consulting [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

668

710

1,392

1,438

Outsourced administration [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

260

234

549

518

Other [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

110

230

217

HCB [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

776

807

1,631

1,644

^[1]

HCB [Member] | Broking [Member]

778

812

1,643

1,655

Revenue from Contract with Customer, Excluding Assessed Tax

154

137

HCB [Member] | Consulting [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

531

571

1,113

1,151

HCB [Member] | Outsourced administration [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

122

101

250

224

HCB [Member] | Other [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

103

CRB [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

695

683

1,416

1,402

^[1]

CRB [Member] | Broking [Member]

702

690

1,441

1,418

Revenue from Contract with Customer, Excluding Assessed Tax

637

633

1,285

1,293

CRB [Member] | Consulting [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

CRB [Member] | Outsourced administration [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

CRB [Member] | Other [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

IRR [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

412

406

1,027

987

^[1]

IRR [Member] | Broking [Member]

414

411

1,032

1,002

Revenue from Contract with Customer, Excluding Assessed Tax

258

249

691

654

IRR [Member] | Consulting [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

100

188

214

IRR [Member] | Outsourced administration [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

IRR [Member] | Other [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

138

110

BDA [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

211

128

445

266

BDA [Member] | Broking [Member]

211

128

445

266

Revenue from Contract with Customer, Excluding Assessed Tax

188

BDA [Member] | Outsourced administration [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

119

117

252

249

Corporate, Non-Segment [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

^[2]

^[1],[2]

Corporate, Non-Segment [Member] | Consulting [Member]

^[2]

Revenue from Contract with Customer, Excluding Assessed Tax

^[2]

Corporate, Non-Segment [Member] | Other [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

^[2]

Operating Segments [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

2,082

2,009

4,489

4,269

Operating Segments [Member] | HCB [Member]

2,090

2,022

4,525

4,303

Revenue from Contract with Customer, Excluding Assessed Tax

765

792

1,605

1,615

Operating Segments [Member] | CRB [Member]

767

797

1,617

1,626

Revenue from Contract with Customer, Excluding Assessed Tax

694

683

1,415

1,402

Operating Segments [Member] | IRR [Member]

701

690

1,440

1,418

Revenue from Contract with Customer, Excluding Assessed Tax

411

404

1,023

983

Operating Segments [Member] | BDA [Member]

413

409

1,028

998

Revenue from Contract with Customer, Excluding Assessed Tax

209

126

440

261

Operating Segments [Member] | Corporate, Non-Segment [Member]

209

126

440

261

Revenue from Contract with Customer, Excluding Assessed Tax

^[2]

Segment Reconciling Items [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

^[2]

Segment Reconciling Items [Member] | HCB [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

^[2]

Segment Reconciling Items [Member] | CRB [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

^[2]

Segment Reconciling Items [Member] | IRR [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

^[2]

Segment Reconciling Items [Member] | BDA [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

^[2]

Segment Reconciling Items [Member] | Corporate, Non-Segment [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

^[2]

$ 4

$ 2

$ 10

$ 9

[1]	Interest and other income is included in segment revenue and total revenue, however it has been presented separately in the above tables because it does not arise directly from contracts with customers.
[2]	Reimbursable expenses and other, as well as Corporate revenue, are excluded from segment revenue, but included in total revenue on the condensed consolidated statements of comprehensive income.

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Revenue - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation Of Revenue [Line Items]
Contract with Customer, Performance Obligation Satisfied in Previous Period	$ 5		$ 14
December 31 2019 [Member]
Disaggregation Of Revenue [Line Items]
Contract with Customer, Liability, Revenue Recognized	130		$ 402
March 31 2020 [Member]
Disaggregation Of Revenue [Line Items]
Contract with Customer, Liability, Revenue Recognized	$ 254
Maximum [Member] \| Other [Member]
Disaggregation Of Revenue [Line Items]
Revenue, Percentage of Total Revenue	5.00%	5.00%	5.00%	5.00%

Revenue - Schedule of Revenue by Geography (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 2,101	$ 2,030	$ 4,535	$ 4,316
Operating Segments [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	2,082	2,009	4,489	4,269
Corporate, Non-Segment [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	3	4	6	8
HCB [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	776	807	1,631	1,644
HCB [Member] \| Operating Segments [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	765	792	1,605	1,615
CRB [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	695	683	1,416	1,402
CRB [Member] \| Operating Segments [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	694	683	1,415	1,402
IRR [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	412	406	1,027	987
IRR [Member] \| Operating Segments [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	411	404	1,023	983
BDA [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	211	128	445	266
BDA [Member] \| Operating Segments [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	209	126	440	261
North America [Member] \| Operating Segments [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,084	999	2,194	1,993
North America [Member] \| Corporate, Non-Segment [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	2	4	4	8
North America [Member] \| HCB [Member] \| Operating Segments [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	462	478	938	949
North America [Member] \| CRB [Member] \| Operating Segments [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	296	274	529	494
North America [Member] \| IRR [Member] \| Operating Segments [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	117	117	287	281
North America [Member] \| BDA [Member] \| Operating Segments [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	207	126	436	261
Great Britain [Member] \| Operating Segments [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	484	488	1,068	1,048
Great Britain [Member] \| HCB [Member] \| Operating Segments [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	117	120	243	238
Great Britain [Member] \| CRB [Member] \| Operating Segments [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	160	172	297	314
Great Britain [Member] \| IRR [Member] \| Operating Segments [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	207	196	528	496
Western Europe [Member] \| Operating Segments [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	296	303	773	766
Western Europe [Member] \| Corporate, Non-Segment [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1		2
Western Europe [Member] \| HCB [Member] \| Operating Segments [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	119	124	275	279
Western Europe [Member] \| CRB [Member] \| Operating Segments [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	127	128	371	367
Western Europe [Member] \| IRR [Member] \| Operating Segments [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	49	51	125	120
International [Member] \| Operating Segments [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	218	219	454	462
International [Member] \| HCB [Member] \| Operating Segments [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	67	70	149	149
International [Member] \| CRB [Member] \| Operating Segments [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	111	109	218	227
International [Member] \| IRR [Member] \| Operating Segments [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	38	$ 40	83	$ 86
International [Member] \| BDA [Member] \| Operating Segments [Member]
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 2		$ 4

Revenue - Schedule of Contract Balances (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Revenue From Contract With Customer [Abstract]
Billed Receivable, Current	$ 1,744	$ 1,831
Unbilled Receivable, Current	452	434
Contract asset, Current	234	356
Accounts receivable, net	2,430	2,621
Non-current accounts receivable, net	33	30
Contract asset, Noncurrent	172	105
Deferred revenue	$ 558	$ 538

Revenue - Schedule of Contract Balances (Parenthetical) (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Revenue From Contract With Customer [Abstract]
Allowance for doubtful debts	$ 57	$ 37

Revenue - Schedule of Remaining Performance Obligations (Details) $ in Millions	Jun. 30, 2020 USD ($)
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation	$ 1,335
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation	$ 283
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation	$ 441
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation	$ 611
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period

Revenue - Schedule of Remaining Performance Obligations (Details1) $ in Millions	Jun. 30, 2020 USD ($)
Revenue From Contract With Customer [Abstract]
Revenue, Remaining Performance Obligation	$ 1,335

Segment Information - Narrative (Details)	6 Months Ended
Segment Information - Narrative (Details)	Jun. 30, 2020 segment
Segment Reporting [Abstract]
Number of operating segments	4
Number of reportable segments	4

Segment Information - Revenue (Net of Reimbursable Expenses) of the Reported Segments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Revenues	$ 2,113	$ 2,048	$ 4,579	$ 4,360
Income from operations	163	176	523	535
HCB [Member]
Segment Reporting Information [Line Items]
Revenues	778	812	1,643	1,655
CRB [Member]
Segment Reporting Information [Line Items]
Revenues	702	690	1,441	1,418
IRR [Member]
Segment Reporting Information [Line Items]
Revenues	414	411	1,032	1,002
BDA [Member]
Segment Reporting Information [Line Items]
Revenues	211	128	445	266
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	2,090	2,022	4,525	4,303
Income from operations	405	357	1,011	919
Operating Segments [Member] \| HCB [Member]
Segment Reporting Information [Line Items]
Revenues	767	797	1,617	1,626
Income from operations	160	169	373	373
Operating Segments [Member] \| CRB [Member]
Segment Reporting Information [Line Items]
Revenues	701	690	1,440	1,418
Income from operations	135	104	262	231
Operating Segments [Member] \| IRR [Member]
Segment Reporting Information [Line Items]
Revenues	413	409	1,028	998
Income from operations	119	109	396	361
Operating Segments [Member] \| BDA [Member]
Segment Reporting Information [Line Items]
Revenues	209	126	440	261
Income from operations	$ (9)	$ (25)	$ (20)	$ (46)

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/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Segment Information - Reconciliation of Information Reported by Segment to Condensed Consolidated Statement of Comprehensive Income Amounts (Details) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

Revenue:

Income/(loss) from operations

$ 2,113

$ 2,048

$ 4,579

$ 4,360

163

176

523

535

Amortization

(119)

(123)

(240)

(250)

Interest expense

(62)

(56)

(123)

(110)

Other income, net

168

122

Income from operations before income taxes

177

187

568

547

Operating Segments [Member]

Revenue:

Income/(loss) from operations

2,090

2,022

4,525

4,303

405

357

1,011

919

Segment Reconciling Items [Member]

Revenue:

Transaction and integration expenses

Amortization

(119)

(123)

(240)

(250)

^[1]

(14)

(23)

(6)

Unallocated, net

^[2]

(109)

(58)

(225)

(128)

Interest expense

(62)

(56)

(123)

(110)

Other income, net

$ 76

$ 67

$ 168

$ 122

[1]	Includes transaction costs related to the proposed Aon combination and TRANZACT acquisition in 2019.
[2]	Includes certain costs, primarily related to corporate functions which are not directly related to the segments, and certain differences between budgeted expenses determined at the beginning of the year and actual expenses that we report for U.S. GAAP purposes.

Income Taxes - Narrative (Details) - USD ($)			3 Months Ended			6 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Mar. 27, 2020	Mar. 26, 2020	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Operating Loss Carryforwards [Line Items]
Provision for income taxes			$ 75,000,000		$ 38,000,000	$ 153,000,000	$ 105,000,000
Effective tax rate			42.20%		19.70%	26.90%	19.10%
Business interest deductions percentage		30.00%
U.S. Tax Reform, estimated potential adjustment			$ 0
Liabilities for uncertain tax positions			51,000,000			$ 51,000,000
Maximum [Member]
Operating Loss Carryforwards [Line Items]
U.S. Tax Reform, estimated potential adjustment				$ 82,000,000
Expected decrease in liability for uncertain tax position			8,000,000			8,000,000
Minimum [Member]
Operating Loss Carryforwards [Line Items]
U.S. Tax Reform, estimated potential adjustment				$ 50,000,000
Expected decrease in liability for uncertain tax position			3,000,000			$ 3,000,000
CARES [Member]
Operating Loss Carryforwards [Line Items]
Provision for income taxes			35,000,000
Business interest deductions percentage	50.00%
CARES [Member] \| Tax Year 2019 and 2020 [Member]
Operating Loss Carryforwards [Line Items]
Provision for income taxes			$ 35,000,000
Business interest deductions percentage			50.00%

Goodwill and Other Intangible Assets - Components of Goodwill (Details) $ in Millions	6 Months Ended
	Jun. 30, 2020 USD ($)
Goodwill [Roll Forward]
Goodwill, gross, beginning balance	$ 11,686
Accumulated impairment losses, beginning balance	(492)
Goodwill, net, beginning balance	11,194
Goodwill acquired	43
Goodwill disposals	(1)
Acquisition accounting adjustment	(5)
Foreign exchange	(35)
Goodwill, gross, ending balance	11,688
Accumulated impairment losses, ending balance	(492)
Goodwill, net, ending balance	11,196
HCB [Member]
Goodwill [Roll Forward]
Goodwill, gross, beginning balance	4,298
Accumulated impairment losses, beginning balance	(130)
Goodwill, net, beginning balance	4,168
Goodwill acquired	15
Goodwill disposals	0
Acquisition accounting adjustment	0
Foreign exchange	(13)
Goodwill, gross, ending balance	4,300
Accumulated impairment losses, ending balance	(130)
Goodwill, net, ending balance	4,170
CRB [Member]
Goodwill [Roll Forward]
Goodwill, gross, beginning balance	2,309
Accumulated impairment losses, beginning balance	(362)
Goodwill, net, beginning balance	1,947
Goodwill acquired	28
Goodwill disposals	(1)
Acquisition accounting adjustment	0
Foreign exchange	(9)
Goodwill, gross, ending balance	2,327
Accumulated impairment losses, ending balance	(362)
Goodwill, net, ending balance	1,965
IRR [Member]
Goodwill [Roll Forward]
Goodwill, gross, beginning balance	1,795
Accumulated impairment losses, beginning balance	0
Goodwill, net, beginning balance	1,795
Goodwill acquired	0
Goodwill disposals	0
Acquisition accounting adjustment	0
Foreign exchange	(13)
Goodwill, gross, ending balance	1,782
Accumulated impairment losses, ending balance	0
Goodwill, net, ending balance	1,782
BDA [Member]
Goodwill [Roll Forward]
Goodwill, gross, beginning balance	3,284
Accumulated impairment losses, beginning balance	0
Goodwill, net, beginning balance	3,284
Goodwill acquired	0
Goodwill disposals	0
Acquisition accounting adjustment	(5)
Foreign exchange	0
Goodwill, gross, ending balance	3,279
Accumulated impairment losses, ending balance	0
Goodwill, net, ending balance	$ 3,279

Goodwill and Other Intangible Assets - Changes in the Net Carrying Amount of the Components of Finite-Lived Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Finite-lived Intangible Assets [Roll Forward]
Finite-lived intangible assets, gross carrying amount	$ 5,949		$ 5,949		$ 5,967
Finite-lived intangible assets, accumulated amortization	(2,692)		(2,692)		(2,489)
Finite-lived intangible assets, net amount	3,257		3,257		3,478
Intangible assets acquired			50
Intangible asset disposals			(2)
Amortization	(119)	$ (123)	(240)	$ (250)
Foreign exchange			(29)
Client relationships [Member]
Finite-lived Intangible Assets [Roll Forward]
Finite-lived intangible assets, gross carrying amount	3,992		3,992		4,029
Finite-lived intangible assets, accumulated amortization	(1,856)		(1,856)		(1,731)
Finite-lived intangible assets, net amount	2,136		2,136		2,298
Intangible assets acquired			18
Intangible asset disposals			(2)
Amortization			(152)
Foreign exchange			(26)
Software [Member]
Finite-lived Intangible Assets [Roll Forward]
Finite-lived intangible assets, gross carrying amount	741		741		753
Finite-lived intangible assets, accumulated amortization	(597)		(597)		(551)
Finite-lived intangible assets, net amount	144		144		202
Intangible assets acquired			0
Intangible asset disposals			0
Amortization			(55)
Foreign exchange			(3)
Trademark and trade name [Member]
Finite-lived Intangible Assets [Roll Forward]
Finite-lived intangible assets, gross carrying amount	1,051		1,051		1,051
Finite-lived intangible assets, accumulated amortization	(198)		(198)		(176)
Finite-lived intangible assets, net amount	853		853		875
Intangible assets acquired			0
Intangible asset disposals			0
Amortization			(22)
Foreign exchange			0
Other [Member]
Finite-lived Intangible Assets [Roll Forward]
Finite-lived intangible assets, gross carrying amount	165		165		134
Finite-lived intangible assets, accumulated amortization	(41)		(41)		(31)
Finite-lived intangible assets, net amount	$ 124		124		$ 103
Intangible assets acquired			32
Intangible asset disposals			0
Amortization			(11)
Foreign exchange			$ 0

Goodwill and Other Intangible Assets - Narrative (Details)	6 Months Ended
	Jun. 30, 2020
Finite-lived Intangible Assets [Roll Forward]
Weighted average remaining life of amortizable intangible assets	13 years 6 months

Goodwill and Other Intangible Assets - Schedule of Future Estimated Amortization Expense for Amortizable Intangible Assets (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
Remainder of 2020	$ 209
2021	376
2022	318
2023	268
2024	237
Thereafter	1,849
Total	$ 3,257	$ 3,478

Derivative Financial Instruments - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 10, 2020	Dec. 31, 2019
Derivative [Line Items]
Loss on derivatives to be reclassified within the next twelve months	$ (12)
Maximum [Member]
Derivative [Line Items]
Longest outstanding maturity	1 year 8 months 12 days
Foreign exchange contracts [Member] \| Max Matthiessen [Member]
Derivative [Line Items]
Derivative, notional amount		$ 273
Designated as Hedging Instrument [Member] \| Foreign exchange contracts [Member] \| Max Matthiessen [Member]
Derivative [Line Items]
Derivative, notional amount		$ 181
Not Designated as Hedging Instrument [Member] \| Foreign exchange contracts [Member]
Derivative [Line Items]
Derivative, notional amount	$ 1,100		$ 931
Derivative liability, fair value	2
Derivative assets, fair value			21
Cash Flow Hedging [Member] \| Designated as Hedging Instrument [Member] \| Foreign exchange contracts [Member]
Derivative [Line Items]
Derivative, notional amount	474		499
Derivative liability, fair value	$ 13
Derivative assets, fair value			$ 8

Derivative Financial Instruments - Schedule of Derivative Instruments Designated As Hedging Instrument Effect on Condensed Consolidated Statements of Comprehensive Income (Details) - Cash Flow Hedging [Member] - Designated as Hedging Instrument [Member] - Foreign exchange contracts [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Derivative [Line Items]
Loss recognized in OCI (effective element)	$ (3)	$ (10)	$ (27)	$ (2)
Loss reclassified from Accumulated OCL into income (effective element)	(2)	(2)	(4)	(6)
Revenue [Member]
Derivative [Line Items]
Loss reclassified from Accumulated OCL into income (effective element)	(1)	(3)	(1)	(2)
Salaries and Benefits [Member]
Derivative [Line Items]
Loss reclassified from Accumulated OCL into income (effective element)	$ (1)	$ 1	$ (3)	$ (4)

Derivative Financial Instruments - Schedule Of Derivative Instruments, Effect on Condensed Consolidated Statements of Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Foreign exchange contracts [Member] \| Not Designated as Hedging Instrument [Member] \| Other income, net [Member]
Derivative [Line Items]
Gain/(loss) recognized in income	$ (8)	$ 6	$ (20)	$ (4)

Debt - Schedule of Current and Long-term Debt (Details)
€ in Millions

6 Months Ended

12 Months Ended

Jun. 30, 2020

USD ($)

Dec. 31, 2019

USD ($)

Jun. 30, 2020

EUR (€)

Current debt

$ 525,000,000

$ 316,000,000

Term loan due 2020 [Member]

5,068,000,000

5,301,000,000

Collateralized Facility [Member]

Current debt

292,000,000

Current portion of long term debt

25,000,000

24,000,000

Renewal commissions receivables pledged as collateral

^[1]

44,000,000

60,000,000

112,000,000

127,000,000

5.750% senior notes due 2021 [Member]

Current debt

$ 500,000,000

$ 499,000,000

5.75%

Revolving 1.25 Billion Dollar Credit Facility [Member] | Revolving Credit Facility [Member]

2021

Maximum borrowing capacity

$ 1,250,000,000

3.500% senior notes due 2021 [Member]

$ 448,000,000

3.50%

2.125% senior notes due 2022 [Member]

2021

$ 605,000,000

^[2]

$ 604,000,000

^[2]

€ 540

^[2]

2.125%

4.625% senior notes due 2023 [Member]

^[2]

2022

$ 249,000,000

4.625%

3.600% senior notes due 2024 [Member]

2023

$ 647,000,000

$ 646,000,000

3.60%

4.400% senior notes due 2026 [Member]

2024

$ 546,000,000

4.40%

4.500% senior notes due 2028 [Member]

2026

$ 595,000,000

4.50%

2.950% senior notes due 2029 [Member]

2028

$ 726,000,000

$ 446,000,000

2.95%

6.125% senior notes due 2043 [Member]

2029

$ 271,000,000

6.125%

5.050% senior notes due 2048 [Member]

2043

$ 395,000,000

5.05%

3.875% senior notes due 2049 [Member]

2048

$ 542,000,000

3.875%

Contingent consideration [Member] | Fair Value Inputs, Discount Rate [Member]

2049

[1]	At June 30, 2020 and December 31, 2019, the Company had $112 million and $127 million, respectively, of renewal commissions receivables pledged as collateral for this facility.
[2]	Notes issued in Euro (€540 million)

Debt - Narrative (Details) - USD ($)		6 Months Ended
Debt - Narrative (Details) - USD ($)	May 29, 2020	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Sep. 10, 2019
Debt Instrument [Line Items]
Proceeds from senior notes		$ 282,000,000	$ 0
2.950% senior notes due 2029 [Member]
Debt Instrument [Line Items]
Stated interest rate		2.95%		2.95%
2.950% senior notes due 2029 [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	$ 275,000,000				$ 450,000,000
Stated interest rate	2.95%
Effective interest rate (as a percent)	2.697%
Maturity date	Sep. 15, 2029
Description of interest accrual date	Interest accrues on the 2029 senior notes from March 15, 2020 and will be paid in cash on March 15 and September 15 of each year, commencing on September 15, 2020.
Proceeds from debt, net of issuance costs	$ 280,000,000
Proceeds from senior notes	2,000,000
Term Loan Facility [Member]
Debt Instrument [Line Items]
Repayment of outstanding debt	$ 175,000,000
Term loan facility expiration date	Jul. 31, 2020
Revolving Credit Facility [Member] \| Revolving 1.25 Billion Dollar Credit Facility [Member]
Debt Instrument [Line Items]
Repayment of outstanding debt	$ 105,000,000
Maximum borrowing capacity		$ 1,250,000,000

Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details)
$ in Millions

Jun. 30, 2020

USD ($)

Dec. 31, 2019

USD ($)

Fair value inputs, weighted-average discount rate

9.03

10.16

Contingent consideration [Member] | Fair Value Inputs, Discount Rate [Member] | Minimum [Member]

Fair value inputs, weighted-average discount rate

3.53

Contingent consideration [Member] | Fair Value Inputs, Discount Rate [Member] | Maximum [Member]

Fair value inputs, weighted-average discount rate

13.00

Recurring [Member]

Assets:

$ 7

$ 20

^[1]

^[2]

Recurring [Member] | Level 1 [Member]

^[1]

Assets:

^[1]

^[2]

Recurring [Member] | Level 2 [Member]

^[1]

Assets:

^[1]

^[2]

Recurring [Member] | Level 3 [Member]

^[1]

Assets:

^[1]

^[2]

^[1]

$ 0

[1]

See Note 8 — Derivative Financial Instruments for further information on our derivative investments.

[2]

Fair Value Measurements - Fair Value Liabilities Measured Using Significant Unobservable Inputs Level 3 (Details) $ in Millions	6 Months Ended
	Jun. 30, 2020 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance as of beginning of period	$ 17
Obligations assumed	2
Payments	0
Realized and unrealized losses	3
Foreign exchange	0
Balance as of end of period	$ 22

Fair Value Measurements - Narrative (Details)	6 Months Ended
Fair Value Measurements - Narrative (Details)	Jun. 30, 2020 USD ($)
Fair Value Disclosures [Abstract]
Fair value significant transfers to or from Level 3	$ 0

Fair Value Measurements - Schedule of Liabilities Whose Carrying Values Differ From the Fair Value and are Not Measured on a Recurring Basis (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current debt	$ 525	$ 316
Long-term debt	5,068	5,301
Carrying Value [Member] \| Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current debt	525	316
Long-term debt	5,068	5,301
Fair Value [Member] \| Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current debt	540	319
Long-term debt	$ 5,732	$ 5,694

Retirement Benefits - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
Retirement Benefits - Narrative (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Compensation and Retirement Disclosure [Line Items]
Portion of pension and OPEB obligation attributed to disclosed plans (as a percent)			99.00%
Defined contribution plan, employer contribution	$ 40,000,000	$ 37,000,000	$ 83,000,000	$ 78,000,000
Pension Plan [Member] \| United States [Member]
Compensation and Retirement Disclosure [Line Items]
Defined benefit pension plans, employer contributions			0
Defined benefit plan, estimated future employer additional contributions, remainder of fiscal year	18,000,000		18,000,000
Pension Plan [Member] \| United Kingdom [Member]
Compensation and Retirement Disclosure [Line Items]
Defined benefit pension plans, employer contributions			35,000,000
Defined benefit plan, estimated future employer additional contributions, remainder of fiscal year	30,000,000		30,000,000
Pension Plan [Member] \| Other Foreign Plans [Member]
Compensation and Retirement Disclosure [Line Items]
Defined benefit pension plans, employer contributions			17,000,000
Defined benefit plan, estimated future employer additional contributions, remainder of fiscal year	$ 5,000,000		$ 5,000,000

Amount of contribution received by defined benefit plan from employer which increases plan assets.

+ References + Details

Retirement Benefits - Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Pension Plan [Member] \| United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 18	$ 16	$ 36	$ 32
Interest cost	33	39	66	79
Expected return on plan assets	(72)	(63)	(145)	(127)
Settlement	2	0	2	0
Amortization of net loss	8	5	17	10
Amortization of prior service credit	0	0	0	0
Net periodic benefit (income)/cost	(11)	(3)	(24)	(6)
Pension Plan [Member] \| United Kingdom [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	3	3	7	7
Interest cost	18	23	36	47
Expected return on plan assets	(59)	(62)	(121)	(125)
Settlement	1	0	1	0
Amortization of net loss	5	5	11	10
Amortization of prior service credit	(4)	(4)	(8)	(8)
Net periodic benefit (income)/cost	(36)	(35)	(74)	(69)
Pension Plan [Member] \| Other Foreign Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	5	5	10	10
Interest cost	3	5	7	9
Expected return on plan assets	(9)	(8)	(17)	(15)
Settlement	0	0	0	0
Amortization of net loss	2	0	2	1
Amortization of prior service credit	0	0	0	0
Net periodic benefit (income)/cost	1	2	2	5
PRW [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0	0	0
Interest cost	0	1	1	2
Expected return on plan assets	0	0	0	0
Settlement	0	0	0	0
Amortization of net loss	1	0	1	0
Amortization of prior service credit	(1)	(1)	(2)	(2)
Net periodic benefit (income)/cost	$ 0	$ 0	$ 0	$ 0

Leases - Schedule of Lease Costs Recorded in Condensed Consolidated Statements of Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Finance lease cost:
Amortization of right-of-use assets			$ 1	$ 1
Interest on lease liabilities	$ 1	$ 1	2	2
Operating lease cost	46	46	93	94
Variable lease cost	13	17	23	30
Sublease income	(5)	(4)	(10)	(8)
Total lease cost, net	$ 55	$ 60	$ 109	$ 119

Commitments and Contingencies - Narrative (Details)																												3 Months Ended		86 Months Ended
Commitments and Contingencies - Narrative (Details)	Jun. 17, 2020 lawsuit	Jun. 12, 2020 USD ($)	May 28, 2020 lawsuit	May 19, 2020 lawsuit	May 14, 2020 lawsuit	May 11, 2020 lawsuit	Oct. 18, 2018 lawsuit	Mar. 09, 2018 lawsuit	Mar. 08, 2018 lawsuit	Feb. 27, 2018 lawsuit	Nov. 21, 2017 lawsuit	Sep. 12, 2016 USD ($) plaintiff	Aug. 05, 2016 USD ($) plaintiff	Mar. 31, 2016 USD ($)	Jul. 21, 2015	Jul. 15, 2015	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 ($) plaintiff	Apr. 01, 2011 USD ($)	Mar. 11, 2011 USD ($) plaintiff	Sep. 16, 2010 USD ($) plaintiff	Sep. 14, 2009 USD ($) plaintiff	Aug. 06, 2009 USD ($)	Mar. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Sep. 12, 2016 lawsuit	Mar. 25, 2014 action
Legacy Towers Watson Stockholders [Member] \| Pending Litigation [Member] \| Willis Towers Watson Merger-Related Securities Litigation [Member]
Loss Contingencies [Line Items]
Number of complaints filed \| lawsuit											1
Legacy Towers Watson, City of Fort Myers General Employees Pension Fund (Fort Myers) [Member] \| Pending Litigation [Member] \| Willis Towers Watson Merger-Related Securities Litigation [Member]
Loss Contingencies [Line Items]
Number of complaints filed \| lawsuit										1
Alaska Laborers-Employers Retirement Trust (Alaska) [Member] \| Pending Litigation [Member] \| Willis Towers Watson Merger-Related Securities Litigation [Member]
Loss Contingencies [Line Items]
Number of complaints filed \| lawsuit									1
Regents [Member] \| Pending Litigation [Member] \| Willis Towers Watson Merger-Related Securities Litigation [Member]
Loss Contingencies [Line Items]
Number of complaints filed \| lawsuit								1
Legacy Towers Watson, Naya Master Fund LP, Naya 174 Fund Limited and Naya Lincoln Park Master Fund Limited (collectively, Naya) [Member] [Member] \| Dismissed Litigation [Member] \| Willis Towers Watson Merger-Related Securities Litigation [Member]
Loss Contingencies [Line Items]
Number of complaints filed \| lawsuit							3
Stanford Financial Group [Member] \| Pending Litigation [Member] \| Canabal, et al. v. Willis of Colorado, Inc., et al. [Member]
Loss Contingencies [Line Items]
Damages sought (in excess of)																											$ 1,000,000,000
Stanford Financial Group [Member] \| Pending Litigation [Member] \| Rupert, et al. v. Winter, et al. [Member]
Loss Contingencies [Line Items]
Damages sought (in excess of)																										$ 300,000,000
Number of plaintiffs \| plaintiff																										97
Stanford Financial Group [Member] \| Pending Litigation [Member] \| Casanova, et al. v. Willis of Colorado, Inc., et al. [Member]
Loss Contingencies [Line Items]
Damages sought (in excess of)																									$ 5,000,000
Number of plaintiffs \| plaintiff																									7
Stanford Financial Group [Member] \| Pending Litigation [Member] \| Rishmague, et ano. v. Winter, et al. [Member]
Loss Contingencies [Line Items]
Damages sought (in excess of)																								$ 37,000,000
Number of plaintiffs \| plaintiff																								2
Stanford Financial Group [Member] \| Pending Litigation [Member] \| MacArthur v. Winter, et al. [Member]
Loss Contingencies [Line Items]
Damages sought (in excess of)																						$ 4,000,000
Number of plaintiffs \| plaintiff																						2
Stanford Financial Group [Member] \| Pending Litigation [Member] \| Florida Suits [Member]
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
Claims stayed, period																		7 days
Stanford Financial Group [Member] \| Pending Litigation [Member] \| Zacarias, et al. v. Willis Group Holdings Public Limited Company, et al. [Member]
Loss Contingencies [Line Items]
Period to replead dismissed claim																21 days
Stanford Financial Group [Member] \| Pending Litigation [Member] \| Tisminesky, et al. v. Willis Group Holdings Public Limited Company, et al. [Member]
Loss Contingencies [Line Items]
Period to replead dismissed claim															21 days
Stanford Financial Group [Member] \| Pending Litigation [Member] \| de Gadala-Maria, et al. v. Willis Group Holdings Public Limited Company, et al. [Member]
Loss Contingencies [Line Items]
Period to replead dismissed claim															21 days
Stanford Financial Group [Member] \| Pending Litigation [Member] \| 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
Stanford Financial Group [Member] \| Pending Litigation [Member] \| Abel, et al. v. Willis of Colorado, Inc., et al [Member]
Loss Contingencies [Line Items]
Damages sought (in excess of)												$ 135,000,000
Number of plaintiffs \| plaintiff												300
Stanford Financial Group [Member] \| Settled Litigation [Member]
Loss Contingencies [Line Items]
Number of complaints filed \| lawsuit																														15
Provision for litigation losses																												$ 50,000,000	$ 70,000,000
Litigation settlement amount														$ 120,000,000														$ 120,000,000
Stanford Financial Group [Member] \| Settled Litigation [Member] \| Troice, et al. v. Willis of Colorado, Inc., et al. [Member]
Loss Contingencies [Line Items]
Damages sought (in excess of)																							$ 1,000,000,000
Number of actions consolidated \| action																															2
Stanford Financial Group [Member] \| Settled Litigation [Member] \| Janvey, et al. v. Willis of Colorado, Inc., et al. [Member]
Loss Contingencies [Line Items]
Damages sought (in excess of)																	$ 1,000,000,000
Total losses incurred by plaintiff																	$ 4,600,000,000
Barbar, et al. v. Willis Group Holdings Public Limited Company, et al. [Member] \| Pending Litigation [Member] \| Florida Suits [Member]
Loss Contingencies [Line Items]
Damages sought (in excess of)																					$ 30,000,000
Number of plaintiffs \| plaintiff																					35
de Gadala-Maria, et al. v. Willis Group Holdings Public Limited Company, et al. [Member] \| Pending Litigation [Member] \| Florida Suits [Member]
Loss Contingencies [Line Items]
Damages sought (in excess of)																					$ 83,500,000
Number of plaintiffs \| plaintiff																					64
Ranni, et ano. v. Willis Group Holdings Public Limited Company, et al. [Member] \| Pending Litigation [Member] \| Florida Suits [Member]
Loss Contingencies [Line Items]
Damages sought (in excess of)																					$ 3,000,000
Number of plaintiffs \| plaintiff																					2
Tisminesky, et al. v. Willis Group Holdings Public Limited Company, et al. [Member] \| Pending Litigation [Member] \| Florida Suits [Member]
Loss Contingencies [Line Items]
Damages sought (in excess of)																					$ 6,500,000
Number of plaintiffs \| plaintiff																					11
Zacarias, et al. v. Willis Group Holdings Public Limited Company, et al. [Member] \| Pending Litigation [Member] \| Florida Suits [Member]
Loss Contingencies [Line Items]
Damages sought (in excess of)																					$ 12,500,000
Number of plaintiffs \| plaintiff																					10
Aon plc [Member] \| Pending Litigation [Member] \| Stein v. Willis Towers Watson Public Limited Company, et al [Member]
Loss Contingencies [Line Items]
Number of complaints filed \| lawsuit						1
Aon plc [Member] \| Pending Litigation [Member] \| Kent v. Willis Towers Watson Public Limited Company, et al. [Member]
Loss Contingencies [Line Items]
Number of complaints filed \| lawsuit					1
Aon plc [Member] \| Pending Litigation [Member] \| Carter v. Willis Towers Watson Public Limited Company, et al. [Member]
Loss Contingencies [Line Items]
Number of complaints filed \| lawsuit				1
Aon plc [Member] \| Pending Litigation [Member] \| Tang v. Willis Towers Watson Public Limited Company, et al. [Member]
Loss Contingencies [Line Items]
Number of complaints filed \| lawsuit			1
Aon plc [Member] \| Pending Litigation [Member] \| Kuznik v. Willis Towers Watson Public Limited Company, et al. [Member]
Loss Contingencies [Line Items]
Number of complaints filed \| lawsuit	1
Lead Plaintiff [Member] \| Pending Litigation [Member] \| Willis Towers Watson Merger-Related Securities Litigation [Member]
Loss Contingencies [Line Items]
Damages sought (in excess of)		$ 456,000,000

Supplementary Information for Certain Balance Sheet Accounts - Prepaid and Other Current Assets (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Prepayments and accrued income	$ 132,000,000	$ 145,000,000
Deferred contract costs	75,000,000	101,000,000
Derivatives and investments	20,000,000	49,000,000
Deferred compensation plan assets	15,000,000	18,000,000
Retention incentives	6,000,000	11,000,000
Corporate income and other taxes	46,000,000	56,000,000
Restricted cash	7,000,000	8,000,000	$ 0	$ 0
Acquired renewal commissions receivable	15,000,000	25,000,000
Other current assets	47,000,000	112,000,000
Total prepaid and other current assets	$ 363,000,000	$ 525,000,000

Supplementary Information for Certain Balance Sheet Accounts - Deferred Revenue and Accrued Expenses (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Accounts payable, accrued liabilities and deferred income	$ 832	$ 856
Accrued discretionary and incentive compensation	419	727
Accrued vacation	196	137
Other employee-related liabilities	57	64
Total deferred revenue and accrued expenses	$ 1,504	$ 1,784

Supplementary Information for Certain Balance Sheet Accounts - Provision For Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Claims, lawsuits and other proceedings	$ 452	$ 456
Other provisions	82	81
Total provision for liabilities	$ 534	$ 537

Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Jan. 01, 2019
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Stockholders' equity attributable to parent, beginning balance			$ 10,249
Reclassification of tax effects per ASU 2018-02	$ 2,015		2,015		$ 1,792
Stockholders' equity attributable to parent, ending balance	10,335		10,335
Foreign currency translation [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Stockholders' equity attributable to parent, beginning balance	(746)	$ (607)	(538)	$ (616)
Other comprehensive income/(loss) before reclassifications	48	(19)	(160)	(10)
Amounts reclassified from accumulated other comprehensive income/(loss) (net of income tax)	0	0	0	0
Net current-period other comprehensive income/(loss)	48	(19)	(160)	(10)
Stockholders' equity attributable to parent, ending balance	(698)	(626)	(698)	(626)
Foreign currency translation [Member] \| Accounting Standards Update 2018-02 [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification of tax effects per ASU 2018-02	0	0	0	0
Derivative instruments [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Stockholders' equity attributable to parent, beginning balance	(5)	3	13	(8)
Other comprehensive income/(loss) before reclassifications	(3)	(7)	(22)	(1)
Amounts reclassified from accumulated other comprehensive income/(loss) (net of income tax)	2	0	3	5
Net current-period other comprehensive income/(loss)	(1)	(7)	(19)	4
Stockholders' equity attributable to parent, ending balance	(6)	(4)	(6)	(4)
Derivative instruments [Member] \| Accounting Standards Update 2018-02 [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification of tax effects per ASU 2018-02	0	0	0	0
Defined pension and post-retirement benefit costs [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Stockholders' equity attributable to parent, beginning balance	(1,695)	(1,370)	(1,702)	(1,337)
Other comprehensive income/(loss) before reclassifications	6	3	2	4
Amounts reclassified from accumulated other comprehensive income/(loss) (net of income tax)	3	4	14	6
Net current-period other comprehensive income/(loss)	9	7	16	10
Stockholders' equity attributable to parent, ending balance	(1,686)	(1,363)	(1,686)	(1,363)
Defined pension and post-retirement benefit costs [Member] \| Accounting Standards Update 2018-02 [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification of tax effects per ASU 2018-02	0	(36)	0	(36)		$ 36
Total [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Stockholders' equity attributable to parent, beginning balance	(2,446)	(1,974)	(2,227)	(1,961)
Other comprehensive income/(loss) before reclassifications	51	(23)	(180)	(7)
Amounts reclassified from accumulated other comprehensive income/(loss) (net of income tax)	5	4	17	11
Net current-period other comprehensive income/(loss)	56	(19)	(163)	4
Stockholders' equity attributable to parent, ending balance	(2,390)	(1,993)	(2,390)	(1,993)
Total [Member] \| Accounting Standards Update 2018-02 [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification of tax effects per ASU 2018-02	$ 0	$ (36)	$ 0	$ (36)

Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Income (Loss) (Parenthetical) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Jan. 01, 2019
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification from AOCI, Current Period, Tax	$ (7)	$ (3)	$ (7)	$ (7)
Adjustment of retained earnings	2,015		2,015		$ 1,792
Accounting Standards Update 2018-02 [Member] \| Defined pension and post-retirement benefit costs [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Adjustment of retained earnings	$ 0	$ (36)	$ 0	$ (36)		$ 36

Earnings Per Share - Narrative (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Restricted share units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Antidilutive securities excluded from computation of earnings per share	0.0	0.0	0.0	0.0
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Antidilutive securities excluded from computation of earnings per share	0.0	0.0	0.0	0.0
Time-based award [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding	0.2	0.4	0.2	0.4
Performance-Based Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding	0.3	0.3	0.3	0.3
Restricted share units outstanding	0.5	0.5	0.5	0.5

Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Net income attributable to Willis Towers Watson	$ 94	$ 138	$ 399	$ 425
Basic average number of shares outstanding (shares)	129	130	130	130
Dilutive effect of potentially issuable shares (shares)	1	0	0	0
Diluted average number of shares outstanding (shares)	130	130	130	130
Basic earnings per share	$ 0.73	$ 1.06	$ 3.08	$ 3.27
Dilutive effect of potentially issuable shares (USD per share)	(0.01)	0	(0.01)	(0.01)
Diluted earnings per share	$ 0.72	$ 1.06	$ 3.07	$ 3.26

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/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1448-109256

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1337-109256

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e4984-109258

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e3842-109258

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1252-109256

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121326447&loc=SL5780133-109256

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

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/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e3842-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121326447&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1337-109256

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

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/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669619-108580

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669625-108580

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=121586364&loc=d3e3602-108585

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22663-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121326447&loc=SL5780133-109256

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22658-107794