0000950170-22-020347 | 10-Q | XBRL Viewer

736

733

Dividends attributable to non-controlling interests

(92)

(17)

Issuance of shares under employee stock compensation plans

^[1]

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

Reduction of non-controlling interests

^[2]

(52)

Equity, ending balance at Mar. 31, 2021

11,574

10,765

3,075

(3)

(2,311)

^[1]

11,526

Equity, ending balance (in shares) at Mar. 31, 2021

128,974

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

186

184

Dividends attributable to non-controlling interests

(93)

(4)

Issuance of shares under employee stock compensation plans

^[1]

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

Reduction of non-controlling interests

^[2]

(1)

Equity, ending balance at Jun. 30, 2021

(1)

11,715

10,785

3,166

(3)

(2,278)

^[1]

11,670

Equity, ending balance (in shares) at Jun. 30, 2021

128,988

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

(4,456)

(1,000)

907

903

Dividends attributable to non-controlling interests

(100)

(6)

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

(81)

Reduction of non-controlling interests

^[2]

(11)

(8)

(3)

Equity, ending balance at Sep. 30, 2021

11,433

10,786

2,969

(3)

(2,359)

11,393

Equity, ending balance (in shares) at Sep. 30, 2021

124,596

Equity, beginning balance at Dec. 31, 2021

13,308

10,804

4,645

(3)

(2,186)

^[1]

13,260

Equity, beginning balance (in shares) at Dec. 31, 2021

122,056

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

(9,860)

(2,250)

125

122

Dividends attributable to non-controlling interests

(94)

(1)

Issuance of shares under employee stock compensation plans

(56)

^[1]

(56)

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

Acquisition of non-controlling interests

Equity, ending balance at Mar. 31, 2022

11,075

10,826

2,423

(3)

(2,242)

^[1]

11,004

Equity, ending balance (in shares) at Mar. 31, 2022

112,213

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

(2,144)

(471)

114

109

Dividends attributable to non-controlling interests

(90)

(2)

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

(244)

^[1]

(244)

Sale of non-controlling interests

Equity, ending balance at Jun. 30, 2022

10,417

10,855

1,971

(3)

(2,486)

^[1]

10,337

Equity, ending balance (in shares) at Jun. 30, 2022

110,096

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

(1,789)

(369)

192

190

Dividends attributable to non-controlling interests

(86)

(5)

Issuance of shares under employee stock compensation plans

(234)

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

355

Acquisition of non-controlling interests

(14)

(2)

Equity, ending balance at Sep. 30, 2022

$ 9,913

$ 10,855

$ 1,706

$ (3)

$ (2,720)

$ 9,838

$ 75

Equity, ending balance (in shares) at Sep. 30, 2022

108,662

[1]	Accumulated other comprehensive loss, net of tax (‘AOCL’)
[2]	Attributable to the divestiture of businesses that are less than wholly-owned or the acquisition of shares previously owned by minority interest holders.

Condensed Consolidated Statements of Changes in Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends declared per share	$ 0.82	$ 0.82	$ 0.82	$ 0.80	$ 0.71	$ 0.71

Nature of Operations

9 Months Ended

Sep. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Nature of Operations

Note 1 — Nature of Operations

Willis Towers Watson public limited company is a leading global advisory, broking and solutions company that provides data-driven, insight-led solutions in the areas of people, risk and capital. The Company has more than 44,000 colleagues serving more than 140 countries and markets.

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), advisory services, leading-edge technology solutions, and unparalleled analytical and modeling capabilities (such as hazard modeling). 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 effectively deliver valuable benefits and create an engaging employee experience. Our services and solutions encompass such areas as employee benefits, total rewards, talent, wellbeing 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 unrestricted access to the global insurance market.

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. 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 help sharpen strategies, enhance organizational resilience, motivate workforces and maximize performance to uncover opportunities for sustainable success.

Segment Reorganization

On January 1, 2022, WTW realigned to provide its comprehensive offering of services and solutions to clients across two business segments: Health, Wealth & Career (‘HWC’), and Risk & Broking (‘R&B’). These changes were made in conjunction with changes in the WTW leadership team, including the appointment of a new chief executive officer who succeeded the prior CEO as the chief operating decision maker on that date. Prior to January 1, 2022, we operated across four segments: Human Capital and Benefits; Corporate Risk and Broking; Investment, Risk and Reinsurance; and Benefits Delivery and Administration. Following the realignment, the two new segments consist of the following businesses:

•

The HWC segment includes businesses previously aligned under the Human Capital and Benefits segment, the Benefits Delivery and Administration segment, and the Investment business, which was previously under the Investment, Risk and Reinsurance segment.

•

The R&B segment includes businesses previously aligned under the Corporate Risk and Broking segment, as well as the Insurance Consulting and Technology business, which was previously under the Investment, Risk and Reinsurance segment.

In addition, effective January 1, 2022, the Company manages its businesses across three geographical areas: North America, Europe (including Great Britain) and International.

Certain Investment, Risk and Reinsurance businesses that were part of the results from continuing operations in the prior-year period presented were divested during 2021. The revenue and income from operations for these businesses have been included as ‘divested businesses’ in the reconciliations between the total segment results and the consolidated results of the Company. However, the results of the divested Willis Re treaty-reinsurance business are presented as discontinued operations and are therefore excluded from the divested businesses presented in the segment reconciliations.

Segment results herein are presented on a retrospective basis to reflect the reorganization. See Note 4 — Revenue, Note 5 — Segment Information, Note 6 — Restructuring Costs and Note 8 — Goodwill and Other Intangible Assets for the Company's segment-based presentations.

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Note 2 — Basis of Presentation Basis of Presentation The accompanying unaudited quarterly condensed consolidated financial statements of WTW and our subsidiaries are presented in accordance with the rules and regulations of the SEC for quarterly reports on Form 10-Q and therefore certain footnote disclosures have been condensed or omitted from these financial statements as they are not required for interim reporting under U.S. GAAP. Certain amounts on the condensed consolidated statements of cash flows have been revised from their prior period classifications. See Note 19 - Supplemental Disclosures of Cash Flow Information for more information as to the nature of the revision and the amounts. 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 24, 2022, and may be accessed via EDGAR on the SEC’s web site at www.sec.gov. The results of operations for the three and nine months ended September 30, 2022 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 of the Economic Environment Beginning with the COVID-19 pandemic, there have been adverse changes in global commercial activity, particularly in the global supply chain and workforce availability, and significant volatility in the global financial markets including, among other effects, occasional declines in the equity markets, changes in interest rates and reduced liquidity on a global basis. Supply and labor market disruptions caused by COVID-19, accommodative monetary and fiscal policy and the Russian invasion of Ukraine have contributed to significant inflation in many of the markets in which we operate. This impacts not only the costs to attract and retain employees but also other costs to run and invest in our business. If our costs grow significantly in excess of our ability to raise revenue, our margins and results of operations may be materially and adversely impacted and we may not be able to achieve our strategic and financial objectives. Although we believe we have adapted to the unique challenges posed by COVID-19 surrounding how and where we do our work, we are also impacted by the negative effect on workforce availability, which could hamper our ability to grow our capacity on pace with increasing demand for our services. We expect the market for talent to remain highly competitive for at least the next several months. We will continue to monitor the situation and assess any implications to our business and our stakeholders.

Acquisitions and Divestitures

9 Months Ended

Sep. 30, 2022

Dispositions [Abstract]

Acquisitions and Divestitures

Note 3 — Acquisitions and Divestitures

Acquisitions

The Company completed acquisitions during the nine months ended September 30, 2022 for cash payments of $109 million and contingent considerations with estimated fair values totaling $22 million.

Divestment of Russian Business

During the first quarter of 2022, WTW announced its intention to transfer ownership of its Russian subsidiaries to local management who will operate independently in the Russian market. Due to the sanctions and prohibitions on certain types of business and activities, WTW deconsolidated its Russian entities on March 14, 2022. The transfer of its Russian subsidiaries to local management was completed on the agreed-upon terms on July 18, 2022, and the transfer was registered in Russia on July 25, 2022. The deconsolidation in the first quarter of 2022 resulted in a loss of $57 million, which includes an allocation of Risk & Broking goodwill, and was recognized as a loss on disposal of a business within other income, net on our condensed consolidated statement of comprehensive income. Further, certain Russian insurance contracts were placed historically by our U.K. brokers into the London market, the majority of which were under multi-year terms resulting in both current and non-current accounts receivables. Total net assets impaired, including accounts receivable balances related to our Russian business that are held outside of our Russian entities, were $81 million recorded during the three months ended March 31, 2022 in other operating expenses on our condensed consolidated statement of comprehensive income.

Willis Re Divestiture

On August 13, 2021, the Company entered into a definitive agreement to sell its treaty-reinsurance business (‘Willis Re’) to Arthur J. Gallagher & Co. (‘Gallagher’), a leading global provider of insurance, risk management and consulting services, for total upfront cash consideration of $3.25 billion plus an earnout payable in 2025 of up to $750 million in cash, subject to certain adjustments. The deal was subject to required regulatory approvals and clearances, as well as other customary closing conditions, and was completed on December 1, 2021 (‘Principal Closing’). Although the majority of the Willis Re businesses transferred to Gallagher at Principal Closing, the assets and liabilities of certain Willis Re businesses were not transferred to Gallagher at the time due to local territory restrictions (‘Deferred Closing’). The Deferred Closing for all but one business was completed during the second quarter of 2022, and all net earnings of the Deferred Closing businesses accumulated between the Principal Closing and Deferred Closing remained payable to Gallagher at June 30, 2022 and September 30, 2022. The Company recognized a preliminary pre-tax gain of $2.3 billion upon completion of the sale in 2021, and during the second quarter of 2022, WTW recognized a $60 million reduction to the pre-tax gain related to an updated estimate of the working capital transferred upon disposal. The Company recognized the final allocation of the proceeds and related tax expense, as well as an adjustment of certain indemnities for the three months ended September 30, 2022. These amounts as well as the amounts payable with respect to the settled Deferred Closing businesses were remitted to Gallagher in October 2022. The gain is subject to tax in certain jurisdictions, mainly in the U.S., and is predominantly tax-exempt in the U.K.

In connection with the transaction, the Company reclassified the results of its Willis Re operations as discontinued operations on its condensed consolidated statements of comprehensive income and reclassified Willis Re assets and liabilities as held for sale on its condensed consolidated balance sheets. The condensed consolidated cash flow statements were not adjusted for the divestiture. Willis Re was previously included in the Company's former Investment, Risk and Reinsurance segment. As noted above, the amounts owed as part of the Deferred Closing continue to be presented as held for sale on the condensed consolidated balance sheets at September 30, 2022 and December 31, 2021, and the results of these businesses following the Principal Closing until their respective Deferred Closing dates have been included in income from discontinued operations on the condensed consolidated statements of comprehensive income.

The Company will account for the earnout as a gain contingency and therefore did not record any receivables upon close. Rather, the earnout will be recognized in the Company’s condensed consolidated financial statements, if it is received, in 2025.

A number of services are continuing under a cost reimbursement Transition Services Agreement (‘TSA’) in which WTW is providing Gallagher support including real estate leases, information technology, payroll, human resources and accounting. These services are expected to be provided for a period not to exceed two years from the Principal Closing. Fees earned under the TSA were $8 million and $31 million during the three and nine months ended September 30, 2022, respectively, and have been recognized as a reduction to the costs incurred to service the TSA and are included in continuing operations within other operating expenses on the condensed consolidated statements of comprehensive income. Costs incurred to service the TSA are expected to be reduced as part of the Company’s Transformation program (see Note 6 — Restructuring Costs for a description of the program) as quickly as possible when the services are no longer required by Gallagher.

The following selected financial information relates to the operations of Willis Re for the periods presented:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
Revenue from discontinued operations	$	10		$	111		$	50		$	668
Costs of providing services
Salaries and benefits		5			97			13			291
Other operating expenses		—			29			1			60
Amortization		—			—			—			1
Total costs of providing services		5			126			14			352
Other income, net		—			—			—			1
Income/(loss) from discontinued operations before income taxes		5			(15	)		36			317
Adjustment to gain on disposal of Willis Re		(2	)		—			(65	)		—
Benefit from/(provision for) income taxes		5			3			7			(70	)
Net income payable to Gallagher on Deferred Closing		—			—			(5	)		—
Income/(loss) from discontinued operations, net of tax	$	8		$	(12	)	$	(27	)	$	247

The expense amounts reflected above represent only the direct costs attributable to the Willis Re business and exclude allocations of corporate costs that will be retained following the sale. Neither the discontinued operations presented above, nor the unallocated corporate costs, reflect the impact of any cost reimbursement that will be received under the TSA.

Amounts classified as held for sale within our condensed consolidated balance sheets at both September 30, 2022 and December 31, 2021 are related to amounts payable as part of the Deferred Closing as well as the final purchase price adjustment at September 30, 2022. Certain amounts included in the condensed consolidated balance sheets have been excluded from the held-for-sale balances disclosed since the assets are not transferring under the terms of the sale agreement, and instead will be settled by the Company. At September 30, 2022 and December 31, 2021, the amounts of significant assets and liabilities related to the Willis Re businesses which were not transferred in the sale and are therefore not classified as held for sale on the condensed consolidated balance sheets are $3.8 billion and $2.6 billion of fiduciary assets and liabilities, $62 million and $71 million of accounts receivable and $137 million and $91 million of other current liabilities, respectively. Other than indemnified amounts, these amounts will be settled over time.

In October 2022, the Company transferred the amounts owed to Gallagher in relation to the completed Deferred Closing businesses, final purchase price adjustments and indemnities.

Miller Divestiture

On March 1, 2021, the Company completed the transaction to sell its U.K.-based, majority-owned wholesale subsidiary Miller for final total consideration of GBP 623 million ($818 million), which includes amounts paid to the minority shareholder. The $356 million net tax-exempt gain on the sale was included in Other income, net in the condensed consolidated statement of comprehensive income during the nine months ended September 30, 2021. Prior to disposal, Miller was included within the Company's former Investment, Risk and Reinsurance segment.

Other Disposals

The Company completed other disposals during the nine months ended September 30, 2022 for cash proceeds of $1 million and estimated non-cash proceeds of $43 million for a net gain on disposal of $46 million.

Revenue

9 Months Ended

Sep. 30, 2022

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 nine months ended September 30, 2022 and 2021. Along with reimbursable expenses and other, total revenue by service offering represents our revenue from customer contracts. The prior year segment information has been retrospectively adjusted to conform to the current year presentation.


	Three Months Ended September 30,
	HWC				R&B				Divested Businesses				Corporate (i)					Total
	2022		2021		2022		2021		2022		2021		2022		2021			2022		2021
Broking	$	207	$	189	$	606	$	621	$	—	$	8	$	1	$	—		$	814	$	818
Consulting		616		621		85		92		—		—		2		2			703		715
Outsourced administration		222		245		18		21		—		—		—		—			240		266
Other		111		109		38		38		—		—		—		1			149		148
Total revenue by service offering		1,156		1,164		747		772		—		8		3		3			1,906		1,947
Reimbursable expenses and other (i)		16		13		2		2		—		—		4		(10	)		22		5
Total revenue from customer contracts	$	1,172	$	1,177	$	749	$	774	$	—	$	8	$	7	$	(7	)	$	1,928	$	1,952
Interest and other income (ii)		6		4		18		15		—		—		1		2			25		21
Total revenue	$	1,178	$	1,181	$	767	$	789	$	—	$	8	$	8	$	(5	)	$	1,953	$	1,973


	Nine Months Ended September 30,
	HWC				R&B				Divested Businesses				Corporate (i)					Total
	2022		2021		2022		2021		2022		2021		2022		2021			2022		2021
Broking	$	714	$	645	$	1,963	$	2,026	$	—	$	62	$	8	$	—		$	2,685	$	2,733
Consulting		1,886		1,910		280		292		—		6		7		6			2,173		2,214
Outsourced administration		696		754		61		69		—		—		—		—			757		823
Other		237		257		147		140		—		—		—		3			384		400
Total revenue by service offering		3,533		3,566		2,451		2,527		—		68		15		9			5,999		6,170
Reimbursable expenses and other (i)		43		40		7		5		—		—		3		(10	)		53		35
Total revenue from customer contracts	$	3,576	$	3,606	$	2,458	$	2,532	$	—	$	68	$	18	$	(1	)	$	6,052	$	6,205
Interest and other income (ii)		32		14		57		69		—		—		3		4			92		87
Total revenue	$	3,608	$	3,620	$	2,515	$	2,601	$	—	$	68	$	21	$	3		$	6,144	$	6,292

(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. Amounts included in Corporate revenue may include eliminations and impacts from hedged revenue transactions.

(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. In 2022, both HWC’s and R&B’s interest and other income resulted primarily from book-of-business settlements. For HWC, these amounts totaled $2 million and $19 million, respectively, for the three and nine months ended September 30, 2022. For R&B, these amounts totaled $11 million and $41 million, respectively, for the three and nine months ended September 30, 2022. In the three and nine months ended September 30, 2021, HWC had no material settlements, and R&B had settlements totaling $12 million and $59 million, respectively.

The following tables present revenue by the geography where our work is performed for the three and nine months ended September 30, 2022 and 2021. Reconciliations to total revenue on our condensed consolidated statements of comprehensive income and to segment revenue are shown in the table above. The prior year geographic information has been retrospectively adjusted to conform to the current year presentation.


	Three Months Ended September 30,
	HWC				R&B				Divested Businesses				Corporate				Total
	2022		2021		2022		2021		2022		2021		2022		2021		2022		2021
North America	$	766	$	748	$	326	$	329	$	—	$	5	$	2	$	2	$	1,094	$	1,084
Europe		285		312		297		319		—		3		1		1		583		635
International		105		104		124		124		—		—		—		—		229		228
Total revenue by geography	$	1,156	$	1,164	$	747	$	772	$	—	$	8	$	3	$	3	$	1,906	$	1,947


	Nine Months Ended September 30,
	HWC				R&B				Divested Businesses				Corporate				Total
	2022		2021		2022		2021		2022		2021		2022		2021		2022		2021
North America	$	2,301	$	2,258	$	936	$	922	$	—	$	15	$	6	$	6	$	3,243	$	3,201
Europe		931		1,018		1,128		1,201		—		53		8		3		2,067		2,275
International		301		290		387		404		—		—		1		—		689		694
Total revenue by geography	$	3,533	$	3,566	$	2,451	$	2,527	$	—	$	68	$	15	$	9	$	5,999	$	6,170

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 September 30, 2022 and December 31, 2021:


	September 30, 2022		December 31, 2021
Billed receivables, net of allowance for doubtful accounts of $47 million and $45 million	$	1,207	$	1,504
Unbilled receivables		451		431
Current contract assets		226		435
Accounts receivable, net	$	1,884	$	2,370
Non-current accounts receivable, net	$	44	$	23
Non-current contract assets	$	620	$	532
Deferred revenue	$	604	$	576

During the three and nine months ended September 30, 2022, revenue of $53 million and $363 million, respectively, was recognized that was reflected as deferred revenue at December 31, 2021. During the three months ended September 30, 2022, revenue of $232 million was recognized that was reflected as deferred revenue at June 30, 2022.

During the three and nine months ended September 30, 2022, the Company recognized revenue of $1 million and $6 million, respectively, related to performance obligations satisfied prior to 2022.

Performance Obligations

The Company has contracts for which performance obligations have not been satisfied as of September 30, 2022 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 2022		2023		2024 onward		Total
Revenue expected to be recognized on contracts as of September 30, 2022	$	181	$	695	$	900	$	1,776

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 September 30, 2022 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
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-Paragraph 13
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-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 12
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-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
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-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 12
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Segment Information

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Segment Information

Note 5 — Segment Information

WTW has two reportable operating segments or business areas:

•

Health, Wealth & Career (‘HWC’)

•

Risk & Broking (‘R&B’)

WTW’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 September 30, 2022 and 2021. The prior year information has been retrospectively adjusted to conform to the current year presentation.


	Three Months Ended September 30,
	HWC				R&B				Total
	2022		2021		2022		2021		2022		2021
Segment revenue	$	1,162	$	1,168	$	765	$	787	$	1,927	$	1,955

Segment operating income	$	236	$	241	$	105	$	138	$	341	$	379

The following table presents segment revenue and segment operating income for our reportable segments for the nine months ended September 30, 2022 and 2021. The prior year information has been retrospectively adjusted to conform to the current year presentation.


	Nine Months Ended September 30,
	HWC				R&B				Total
	2022		2021		2022		2021		2022		2021
Segment revenue	$	3,565	$	3,580	$	2,508	$	2,596	$	6,073	$	6,176

Segment operating income	$	710	$	701	$	465	$	545	$	1,175	$	1,246

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 nine months ended September 30, 2022 and 2021.


	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
Revenue:
Total segment revenue	$	1,927		$	1,955		$	6,073		$	6,176
Divested businesses (i)		—			8			—			68
Reimbursable expenses and other		26			10			71			48
Revenue	$	1,953		$	1,973		$	6,144		$	6,292

Total segment operating income	$	341		$	379		$	1,175		$	1,246
Divested businesses (i)		—			(20	)		—			(49	)
Impairment (ii)		—			—			(81	)		—
Amortization		(71	)		(85	)		(239	)		(285	)
Restructuring costs		(9	)		—			(71	)		—
Transaction and transformation, net (iii)		(50	)		952			(108	)		877
Unallocated, net (iv)		(57	)		(95	)		(206	)		(277	)
Income from operations		154			1,131			470			1,512
Interest expense		(54	)		(50	)		(154	)		(161	)
Other income, net		85			105			205			617
Income from continuing operations before income taxes	$	185		$	1,186		$	521		$	1,968

(i)

Represents the revenue and income from operations of certain Investment, Risk and Reinsurance businesses which were divested in 2021 and not classified as discontinued operations.

(ii)

Represents the impairment related to the net assets of our Russian business that are held outside of our Russian entities (see Note 3 — Acquisitions and Divestitures for further information).

(iii)

In 2022, in addition to legal fees and other transaction costs, includes primarily consulting fees related to the Transformation program (see Note 6 — Restructuring Costs). In 2021, includes the $1 billion income receipt related to the termination of, and fees related to, our then-proposed Aon combination.

(iv)

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
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Restructuring and Related Activities [Abstract]

Restructuring Costs

9 Months Ended

Sep. 30, 2022

Restructuring Costs

Note 6 — Restructuring Costs

In the fourth quarter of 2021, the Company initiated a three-year ‘Transformation program’ designed to enhance operations, optimize technology and align its real estate footprint to its new ways of working. During the third quarter of 2022, we revised the expected costs and savings under the program and we now expect the program to generate annual cost savings in excess of $360 million by the end of 2024. The program is expected to incur cumulative costs of approximately $630 million and capital expenditures of approximately $270 million, for a total investment of $900 million. The main categories of charges will be in the following four areas:

•

Real estate rationalization — includes costs to align the real estate footprint to the new ways of working (hybrid work) and includes breakage fees and the impairment of right-of-use assets and other related leasehold assets.

•

Technology modernization — these charges are incurred in moving to common platforms and technologies, including migrating certain platforms and applications to the cloud. This category will include the impairment of technology assets that are duplicative or no longer revenue-producing, as well as costs for technology investments that do not qualify for capitalization.

•

Process optimization — these costs will be incurred in the right-shoring strategy and automation of our operations, which will include optimizing resource deployment and appropriate colleague alignment. These costs will include process and organizational design costs, severance and separation-related costs and temporary retention costs.

•

Other — other costs not included above including fees for professional services, other contract terminations not related to the above categories and supplier migration costs.

Certain costs under the Transformation program are accounted for under ASC 420, Exit or Disposal Cost Obligation, and are included as restructuring costs in the condensed consolidated statements of comprehensive income. Other costs incurred under the Transformation program are included in transaction and transformation, net and were $42 million and $73 million for the three and nine months ended September 30, 2022, respectively. An analysis of total restructuring costs incurred under the Transformation program by category and by segment and corporate functions, from commencement to September 30, 2022, is as follows:


	HWC		R&B		Corporate		Total
2021
Real estate rationalization	$	—	$	—	$	19	$	19
Technology modernization		—		5		—		5
Process optimization		—		—		—		—
Other		—		—		2		2
2022
Real estate rationalization		—		—		53		53
Technology modernization		—		1		16		17
Process optimization		1		—		—		1
Other		—		—		—		—
Total
Real estate rationalization		—		—		72		72
Technology modernization		—		6		16		22
Process optimization		1		—		—		1
Other		—		—		2		2
Total	$	1	$	6	$	90	$	97

A rollforward of the liability associated with cash-based charges related to restructuring costs associated with the Transformation program is as follows:


	Real estate rationalization			Technology modernization		Process optimization			Other			Total
Balance at October 1, 2021	$	—		$	—	$	—		$	—		$	—
Charges incurred		—			—		—			2			2
Cash payments		—			—		—			(1	)		(1	)
Balance at December 31, 2021		—			—		—			1			1
Charges incurred		15			—		1			—			16
Cash payments		(12	)		—		(1	)		(1	)		(14	)
Balance at September 30, 2022	$	3		$	—	$	—		$	—		$	3

Income Taxes

9 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

Income Taxes

Note 7 — Income Taxes

Provision for income taxes for the three and nine months ended September 30, 2022 was $1 million and $63 million, respectively, compared to $267 million and $386 million for the three and nine months ended September 30, 2021, respectively. The effective tax rates were 0.7% and 12.1% for the three and nine months ended September 30, 2022, respectively, and 22.5% and 19.6% for the three and nine months ended September 30, 2021, respectively. These effective tax rates are calculated using extended values from the Company’s condensed consolidated statements of comprehensive income and are, therefore, more precise tax rates than can be calculated from rounded values. The prior-year quarter’s effective tax rate was higher due to the tax expense associated with the income receipt related to the termination of our then-proposed combination with Aon. Additionally, the current-quarter’s effective tax rate includes discrete tax benefits related to amending the Company’s U.S. federal and state tax returns to change certain elections available under the Coronavirus Aid, Relief, and Economic Security (‘CARES’) Act as well as excess tax benefits on executive share-based compensation.

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, the Company has not provided taxes on cumulative earnings of its subsidiaries that have been reinvested indefinitely. As a result of its plans to restructure or distribute accumulated earnings of certain foreign operations, the Company has recorded an estimate of non-US withholding and state income taxes. However, the Company asserts that the historical cumulative earnings of its other subsidiaries are reinvested indefinitely and therefore does 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. It has liabilities for uncertain tax positions under ASC 740, Income Taxes, of $31 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 $4 million, excluding interest and penalties.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2022

Goodwill and Other Intangible Assets

Note 8 — Goodwill and Other Intangible Assets

Goodwill

The components of goodwill are outlined below for the nine months ended September 30, 2022. The prior year segment information has been retrospectively adjusted to conform to the current year presentation.


	HWC			R&B			Total
Balance at December 31, 2021:
Goodwill, gross	$	7,904		$	2,771		$	10,675
Accumulated impairment losses		(130	)		(362	)		(492	)
Goodwill, net - December 31, 2021		7,774			2,409			10,183
Goodwill acquired		—			103			103
Goodwill disposals		—			(18	)		(18	)
Foreign exchange		(62	)		(117	)		(179	)
Balance at September 30, 2022:
Goodwill, gross		7,842			2,739			10,581
Accumulated impairment losses		(130	)		(362	)		(492	)
Goodwill, net - September 30, 2022	$	7,712		$	2,377		$	10,089

Other Intangible Assets

The following table reflects changes in the net carrying amounts of the components of finite-lived intangible assets for the nine months ended September 30, 2022:


	Client relationships			Software			Trademark and trade name			Other			Total
Balance at December 31, 2021:
Intangible assets, gross	$	3,794		$	742		$	1,039		$	102		$	5,677
Accumulated amortization		(2,118	)		(701	)		(257	)		(46	)		(3,122	)
Intangible assets, net - December 31, 2021		1,676			41			782			56			2,555
Intangible assets acquired		60			4			1			—			65
Intangible asset disposals		(1	)		—			—			(5	)		(6	)
Amortization		(173	)		(27	)		(32	)		(7	)		(239	)
Foreign exchange		(57	)		—			(2	)		(2	)		(61	)
Balance at September 30, 2022:
Intangible assets, gross		3,691			710			1,035			95			5,531
Accumulated amortization		(2,186	)		(692	)		(286	)		(53	)		(3,217	)
Intangible assets, net - September 30, 2022	$	1,505		$	18		$	749		$	42		$	2,314

The weighted-average remaining life of amortizable intangible assets at September 30, 2022 was 12.6 years.

The table below reflects the future estimated amortization expense for amortizable intangible assets for the remainder of 2022 and for subsequent years:


	Amortization
Remainder of 2022	$	70
2023		257
2024		224
2025		204
2026		197
Thereafter		1,362
Total	$	2,314

Derivative Financial Instruments

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

Note 9 — 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 11 — Fair Value Measurements and Note 17 — 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 the entity with such operations 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 September 30, 2022 and December 31, 2021 had total notional amounts of $127 million and $155 million, respectively, and had a net liability fair value of $9 million and a net asset fair value of $3 million, respectively.

At September 30, 2022, the Company estimates, based on current exchange rates, there will be $6 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 September 30, 2022, 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 nine months ended September 30, 2022 and 2021 are below. Amounts pertaining to the ineffective portion of hedging instruments and those excluded from effectiveness testing were immaterial for the three and nine months ended September 30, 2022 and 2021.


	(Loss)/gain recognized in OCI (effective element)
	Three months ended September 30,						Nine months ended September 30,
	2022			2021			2022			2021
Forward exchange contracts	$	(6	)	$	(2	)	$	(12	)	$	3


Location of (loss)/gain reclassified from Accumulated OCL into income (effective element)	(Loss)/gain reclassified from Accumulated OCL into income (effective element)
	Three months ended September 30,						Nine months ended September 30,
	2022			2021			2022			2021
Revenue	$	—		$	(1	)	$	1		$	(3	)
Salaries and benefits		(2	)		2			(1	)		5
Discontinued operations		—			—			—			3
	$	(2	)	$	1		$	—		$	5

The Company engages in intercompany borrowing and lending between subsidiaries, primarily through its in-house banking operations which give rise to foreign exchange exposures. The Company mitigates these risks through the use of short-term foreign currency forward and swap transactions that offset the underlying exposure created when the borrower and lender have different functional currencies. These derivatives are not generally designated as hedging instruments and at September 30, 2022 and December 31, 2021, we had notional amounts of $2.2 billion and $2.9 billion, respectively. At September 30, 2022 and December 31, 2021, we had a net liability fair value of $15 million and a net asset fair value of $15 million, respectively. Such derivatives typically mature within three months.

The effects of these derivatives that have not been designated as hedging instruments on the condensed consolidated statements of comprehensive income for the three and nine months ended September 30, 2022 and 2021 are as follows (see Note 16 — Other Income, Net for the net foreign currency impact on the Company’s condensed consolidated statements of comprehensive income which includes the results of the offset of underlying exposures):


		(Loss)/gain recognized in income
		Three Months Ended September 30,						Nine Months Ended September 30,
Derivatives not designated as hedging instruments:	Location of (loss)/gain recognized in income	2022			2021			2022			2021
Forward exchange contracts	Other income, net	$	(182	)	$	(7	)	$	(208	)	$	(36	)

Debt

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Debt

Note 10 — Debt

Current debt consists of the following:


	September 30, 2022		December 31, 2021
2.125% senior notes due 2022 (i)	$	—	$	613
4.625% senior notes due 2023		250		—
	$	250	$	613

Long-term debt consists of the following:


	September 30, 2022		December 31, 2021
Revolving $1.5 billion credit facility	$	—	$	—
4.625% senior notes due 2023		—		249
3.600% senior notes due 2024		648		648
4.400% senior notes due 2026		547		546
4.650% senior notes due 2027		744		—
4.500% senior notes due 2028		597		597
2.950% senior notes due 2029		726		726
6.125% senior notes due 2043		271		271
5.050% senior notes due 2048		395		395
3.875% senior notes due 2049		542		542
	$	4,470	$	3,974

(i)

Notes issued in Euro (€540 million).

Senior Notes

On May 19, 2022, the Company, together with its wholly-owned subsidiary, Willis North America Inc. as issuer, completed an offering of $750 million aggregate principal amount of 4.650% senior notes due 2027 (‘2027 senior notes’). The effective interest rate of the 2027 senior notes is 4.79%, which includes the impact of the discount upon issuance. The 2027 senior notes will mature on June 15, 2027. Interest on the 2027 senior notes accrues from May 19, 2022 and will be paid in cash on June 15 and December 15 of each year, commencing on December 15, 2022. The net proceeds from this offering, after deducting the underwriting discount and estimated offering expenses, were approximately $744 million and were used to fully repay the €540 million ($582 million on the date of repayment) aggregate principal amount of the 2.125% Senior Notes due 2022 and related accrued interest, and for general corporate purposes.

At September 30, 2022 and December 31, 2021, we were in compliance with all financial covenants.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Fair Value Measurements

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 11 — 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 September 30, 2022 and December 31, 2021:


		Fair Value Measurements on a Recurring Basis at September 30, 2022
	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	$	6	$	—	$	—	$	6
	Fiduciary assets		128		—		—		128
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	$	—	$	—	$	54	$	54
Derivatives:
Derivative financial instruments (i)	Other current liabilities and other non-current liabilities	$	—	$	27	$	—	$	27


		Fair Value Measurements on a Recurring Basis at December 31, 2021
	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	$	9	$	—	$	—	$	9
	Fiduciary assets		152		—		—		152
Certificates of deposit/term deposits	Prepaid and other current assets and other non-current assets		200		—		—		200
Derivatives:
Derivative financial instruments (i)	Prepaid and other current assets and other non-current assets	$	—	$	18	$	—	$	18
Liabilities:
Contingent consideration:
Contingent consideration (ii)	Other current liabilities and other non-current liabilities	$	—	$	—	$	51	$	51
Derivatives:
Derivative financial instruments (i)	Other current liabilities and other non-current liabilities	$	—	$	—	$	—	$	—

(i)

See Note 9 — 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 in our material contingent consideration calculations were 11.99% and 11.92% at September 30, 2022 and December 31, 2021, respectively. The range of these discount rates was 3.53% - 13.80% at September 30, 2022. 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)	September 30, 2022
Balance at December 31, 2021	$	51
Obligations assumed		22
Payments		(22	)
Realized and unrealized losses (i)		5
Foreign exchange		(2	)
Balance at September 30, 2022	$	54

(i)

Realized and unrealized losses include accretion and adjustments to contingent consideration liabilities, which are included within Interest expense and Other operating expenses, respectively, on the condensed consolidated statements of comprehensive income.

There were no significant transfers to or from Level 3 in the nine months ended September 30, 2022.

Fair value information about financial instruments not measured at fair value

The following tables present our liabilities not measured at fair value on a recurring basis at September 30, 2022 and December 31, 2021:


	September 30, 2022				December 31, 2021
	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets:
Long-term note receivable	$	62	$	58	$	69	$	70
Liabilities:
Current debt	$	250	$	249	$	613	$	616
Long-term debt	$	4,470	$	4,017	$	3,974	$	4,453

The carrying value of our revolving credit facility approximates its fair value. The fair values above, which exclude accrued interest, 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 and long-term note receivable are considered Level 2 financial instruments as they are corroborated by observable market data.

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.

Retirement Benefits

9 Months Ended

Sep. 30, 2022

Retirement Benefits [Abstract]

Retirement Benefits

Note 12 — Retirement Benefits

Defined Benefit Plans and Post-retirement Welfare Plans

WTW 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, Switzerland and Ireland. Together, these disclosed funded and unfunded plans represent 99% of WTW’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 tables set forth the components of net periodic benefit (income)/cost for the Company’s defined benefit pension and PRW plans for the three and nine months ended September 30, 2022 and 2021:


	Three Months Ended September 30,
	2022											2021
	U.S.			U.K.			Other			PRW		U.S.			U.K.			Other			PRW
Service cost	$	20		$	2		$	6		$	—	$	19		$	4		$	6		$	—
Interest cost		29			18			4			—		24			14			3			—
Expected return on plan assets		(83	)		(34	)		(10	)		—		(79	)		(42	)		(9	)		—
Settlement		3			1			—			—		—			1			2			—
Amortization of net loss		4			7			—			—		8			7			1			1
Amortization of prior service credit		—			(3	)		1			—		—			(4	)		1			(1	)
Net periodic benefit (income)/cost	$	(27	)	$	(9	)	$	1		$	—	$	(28	)	$	(20	)	$	4		$	—


	Nine Months Ended September 30,
	2022												2021
	U.S.			U.K.			Other			PRW			U.S.			U.K.			Other			PRW
Service cost	$	58		$	9		$	17		$	—		$	59		$	13		$	18		$	—
Interest cost		88			54			12			1			71			42			9			1
Expected return on plan assets		(248	)		(110	)		(29	)		—			(233	)		(128	)		(28	)		—
Settlement		3			1			—			—			1			2			2			—
Amortization of net loss		11			22			2			1			30			21			4			2
Amortization of prior service credit		—			(9	)		1			(2	)		—			(13	)		1			(3	)
Net periodic benefit (income)/cost	$	(88	)	$	(33	)	$	3		$	—		$	(72	)	$	(63	)	$	6		$	—

Employer Contributions to Defined Benefit Pension Plans

The Company did not make any contributions to its U.S. plans during the nine months ended September 30, 2022 and currently does not anticipate making contributions over the remainder of the fiscal year. The Company made contributions of $23 million to its U.K. plans for the nine months ended September 30, 2022 and anticipates making additional contributions of $13 million for the remainder of the fiscal year. The Company made contributions of $22 million to its other plans for the nine months ended September 30, 2022 and anticipates making additional contributions of $2 million for the remainder of the fiscal year.

Defined Contribution Plans

The Company made contributions to its defined contribution plans of $34 million and $114 million during the three and nine months ended September 30, 2022, respectively, and $36 million and $118 million during the three and nine months ended September 30, 2021, respectively.

The entire disclosure for retirement benefits.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Commitments and Contingencies Disclosure [Abstract]

Leases

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

Leases

Note 13 — Leases

The following tables present lease costs recorded on our condensed consolidated statements of comprehensive income for the three and nine months ended September 30, 2022 and 2021:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
Finance lease cost:
Amortization of right-of-use assets	$	—		$	—		$	1		$	1
Interest on lease liabilities		1			1			2			2
Operating lease cost		35			43			130			134
Short-term lease cost		—			—			—			1
Variable lease cost		13			13			47			39
Sublease income		(3	)		(6	)		(12	)		(16	)
Total lease cost, net	$	46		$	51		$	168		$	161

The total lease cost is recognized in different locations in our condensed consolidated statements of comprehensive income. Amortization of the finance lease right-of-use 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, with the exception of $2 million and $33 million, respectively, incurred during the three and nine months ended September 30, 2022 that was included in restructuring costs (see Note 6 — Restructuring Costs) that primarily related to the acceleration of amortization of certain abandoned right-of-use assets and the payment of early termination fees. There are no significant lease costs that have been included as discontinued operations in the condensed consolidated statements of comprehensive income during the three and nine months ended September 30, 2022 and 2021.

Commitments and Contingencies

9 Months Ended

Sep. 30, 2022

Commitments and Contingencies

Note 14 — Commitments and Contingencies

Indemnification Agreements

WTW 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, including the disposal of Willis Re. 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. However, 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 expect the impact of claims or demands not described below to be immaterial 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 15 — Supplementary Information for Certain Balance Sheet Accounts for the amounts accrued at September 30, 2022 and December 31, 2021 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.

Supplementary Information for Certain Balance Sheet Accounts

9 Months Ended

Sep. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Supplementary Information for Certain Balance Sheet Accounts

Note 15 — 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:


	September 30, 2022		December 31, 2021
Prepayments and accrued income	$	112	$	137
Short-term investments		—		200
Deferred contract costs		63		74
Derivatives and investments		20		35
Deferred compensation plan assets		13		19
Corporate income and other taxes		198		82
Acquired renewal commissions receivable		9		11
Other current assets		61		54
Total prepaid and other current assets	$	476	$	612

Deferred revenue and accrued expenses consist of the following:


	September 30, 2022		December 31, 2021
Accounts payable, accrued liabilities and deferred income	$	876	$	898
Accrued discretionary and incentive compensation		524		811
Accrued vacation		173		145
Other employee-related liabilities		67		72
Total deferred revenue and accrued expenses	$	1,640	$	1,926

Other current liabilities consists of the following:


	September 30, 2022		December 31, 2021
Dividends payable	$	102	$	112
Income and other taxes payable		153		278
Interest payable		30		55
Deferred compensation plan liabilities		12		49
Contingent and deferred consideration on acquisitions		13		24
Accrued retirement benefits		58		65
Derivatives		25		—
Payroll and other benefits-related liabilities		220		230
Third-party commissions		128		101
Other current liabilities		110		101
Total other current liabilities	$	851	$	1,015

Provision for liabilities consists of the following:


	September 30, 2022		December 31, 2021
Claims, lawsuits and other proceedings	$	306	$	311
Other provisions		59		64
Total provision for liabilities	$	365	$	375

Other non-current liabilities consists of the following:


	September 30, 2022		December 31, 2021
Deferred compensation plan liability	$	75	$	109
Contingent and deferred consideration on acquisitions		41		27
Liabilities for uncertain tax positions		32		43
Finance leases		13		15
Other non-current liabilities		42		59
Total other non-current liabilities	$	203	$	253

Other Income, Net

9 Months Ended

Sep. 30, 2022

Other Income and Expenses [Abstract]

Other Income, Net

Note 16 — Other Income, Net

Other income, net consists of the following:


	Three Months Ended September 30,					Nine Months Ended September 30,
	2022			2021		2022			2021
Gain/(loss) on disposal of operations (i)	$	21		$	23	$	(11	)	$	380
Net periodic pension and postretirement benefit credits		64			79		204			227
Interest in earnings of associates and other investments		—			1		4			5
Foreign exchange (loss)/gain		(1	)		1		4			4
Other		1			1		4			1
Other income, net	$	85		$	105	$	205		$	617

(i)

For the nine months ended September 30, 2022, includes a $24 million non-cash revaluation gain related to an acquisition completed in stages.

Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Accumulated Other Comprehensive Loss

Note 17 — 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 nine months ended September 30, 2022 and 2021. 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
	2022			2021			2022			2021			2022			2021			2022			2021
Quarter-to-date activity:
Balance at June 30, 2022 and 2021, respectively	$	(794	)	$	(376	)	$	6		$	13		$	(1,698	)	$	(1,915	)	$	(2,486	)	$	(2,278	)
Other comprehensive (loss)/income before reclassifications		(240	)		(81	)		(5	)		(1	)		5			2			(240	)		(80	)
Loss/(gain) reclassified from accumulated other comprehensive loss (net of income tax benefit of $2 and $8, respectively)		—			—			1			(1	)		5			—			6			(1	)
Net current-period other comprehensive (loss)/income		(240	)		(81	)		(4	)		(2	)		10			2			(234	)		(81	)
Balance at September 30, 2022 and 2021, respectively	$	(1,034	)	$	(457	)	$	2		$	11		$	(1,688	)	$	(1,913	)	$	(2,720	)	$	(2,359	)

Year-to-date activity:
Balance at December 31, 2021 and 2020, respectively	$	(489	)	$	(400	)	$	11		$	9		$	(1,708	)	$	(1,968	)	$	(2,186	)	$	(2,359	)
Other comprehensive (loss)/income before reclassifications		(545	)		(101	)		(8	)		7			3			2			(550	)		(92	)
Loss/(gain) reclassified from accumulated other comprehensive loss (net of income tax benefit of $6 and $15, respectively) (iii)		—			44			(1	)		(5	)		17			53			16			92
Net current-period other comprehensive (loss)/income		(545	)		(57	)		(9	)		2			20			55			(534	)		—
Balance at September 30, 2022 and 2021, respectively	$	(1,034	)	$	(457	)	$	2		$	11		$	(1,688	)	$	(1,913	)	$	(2,720	)	$	(2,359	)

(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 9 — 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 12 — Retirement Benefits). These components are included in Other income, net in the accompanying condensed consolidated statements of comprehensive income.

(iii)

Includes reclassifications in 2021 of $44 million and $31 million of foreign currency translation and defined pension and post-retirement benefit costs, respectively, attributable to the gain on disposal of our Miller business (see Note 3 — Acquisitions and Divestitures). The net gain on disposal is included in Other income, net in the accompanying condensed consolidated statements of comprehensive income.

Earnings Per Share

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Earnings Per Share

Note 18 — Earnings Per Share

Basic and diluted earnings per share from continuing operations attributable to WTW and discontinued operations, net of tax are calculated by dividing net income from continuing operations attributable to WTW and discontinued operations, net of tax, respectively, 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 both September 30, 2022 and 2021, there were 0.6 million restricted performance-based stock units outstanding. At September 30, 2022, there were 0.4 million restricted time-based stock units outstanding; restricted time-based stock units were immaterial at September 30, 2021. There were no performance-based options outstanding at September 30, 2022; at September 30, 2021, there were 0.3 million performance-based options outstanding. The Company’s time-based share options were immaterial at September 30, 2022; there were 0.1 million time-based share options outstanding at September 30, 2021.

Basic and diluted earnings per share are as follows:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
Income from continuing operations	$	184		$	919		$	458		$	1,582
Less: income attributable to non-controllable interests		(2	)		(4	)		(10	)		(9	)
Income from continuing operations attributable to WTW	$	182		$	915		$	448		$	1,573

Income/(loss) from discontinued operations, net of tax	$	8		$	(12	)	$	(27	)	$	247

Basic average number of shares outstanding		110			129			113			130
Dilutive effect of potentially issuable shares		1			—			1			—
Diluted average number of shares outstanding		111			129			114			130

Basic earnings per share from continuing operations attributable to WTW	$	1.65		$	7.10		$	3.95		$	12.14
Dilutive effect of potentially issuable shares		—			(0.02	)		—			(0.04	)
Diluted earnings per share from continuing operations attributable to WTW	$	1.65		$	7.08		$	3.95		$	12.10

Basic earnings/(loss) per share from discontinued operations, net of tax	$	0.07		$	(0.09	)	$	(0.24	)	$	1.90
Dilutive effect of potentially issuable shares		—			—			—			—
Diluted earnings/(loss) per share from discontinued operations, net of tax	$	0.07		$	(0.09	)	$	(0.24	)	$	1.90

For both the three and nine months ended September 30, 2022, 0.3 million restricted stock units were not included in the computation of the dilutive effect of potentially issuable shares because their effect was anti-dilutive. For the three and nine months ended September 30, 2021, 0.4 million and 0.3 million restricted stock units, respectively, were not included in the computation of the dilutive effect of potentially issuable shares because their effect was anti-dilutive. There were no anti-dilutive options for the three and nine months ended September 30, 2022 and 2021.

Supplemental Disclosures of Cash Flow Information

9 Months Ended

Sep. 30, 2022

Supplemental Cash Flow Elements [Abstract]

Supplemental Disclosures of Cash Flow Information

Note 19 — Supplemental Disclosures of Cash Flow Information

Supplemental disclosures regarding cash flow information are as follows:


	Nine months ended September 30,
	2022			2021
Supplemental disclosures of cash flow information:
Cash and cash equivalents	$	1,496		$	2,162
Fiduciary funds (included in fiduciary assets)		3,170			3,963
Cash and cash equivalents and fiduciary funds (included in current assets held for sale)		5			53
Other restricted cash (included in prepaids and other current assets)		—			6
Total cash, cash equivalents and restricted cash	$	4,671		$	6,184

(Decrease)/increase in cash, cash equivalents and other restricted cash	$	(2,904	)	$	149
Increase/(decrease) in fiduciary funds		174			(167	)
Total	$	(2,730	)	$	(18	)

Revision of previously issued financial statements - During the nine months ended September 30, 2022, to reflect the guidance on restricted cash presentation in FASB ASC 230, Statement of Cash Flows, WTW corrected the classification of its fiduciary funds balances, in the amounts shown in the table above, on our condensed consolidated statements of cash flows, by including these amounts in the total cash, cash equivalents and restricted cash amounts held at each balance sheet date. As a result, cash, cash equivalents and restricted cash balances of $2.2 billion and $2.1 billion at September 30, 2021 and December 31, 2020, respectively, have been revised to $6.2 billion and $6.3 billion, respectively. Additionally, the effect of exchange rate changes on cash, cash equivalents and restricted cash has been updated to include the effect of exchange rate changes on the fiduciary funds balances.

Prior to this correction, the changes in fiduciary funds were presented in fiduciary assets and liabilities on a gross basis in the cash flows from operating activities, where the amounts fully offset each period. In the current presentation, an additional line item, net

(payments)/proceeds from fiduciary funds held for clients, has been included within cash flows from financing activities to represent the change in fiduciary funds balances during the periods. The remaining fiduciary assets and fiduciary liabilities, in equal and offsetting amounts, are no longer presented in the cash flows from operating activities. There was no impact to the total cash flows from operating activities as a result of these changes.

Basis of Presentation (Policies)	9 Months Ended
Basis of Presentation (Policies)	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited quarterly condensed consolidated financial statements of WTW and our subsidiaries are presented in accordance with the rules and regulations of the SEC for quarterly reports on Form 10-Q and therefore certain footnote disclosures have been condensed or omitted from these financial statements as they are not required for interim reporting under U.S. GAAP. Certain amounts on the condensed consolidated statements of cash flows have been revised from their prior period classifications. See Note 19 - Supplemental Disclosures of Cash Flow Information for more information as to the nature of the revision and the amounts. 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 24, 2022, and may be accessed via EDGAR on the SEC’s web site at www.sec.gov. The results of operations for the three and nine months ended September 30, 2022 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 of the Economic Environment	Risks and Uncertainties of the Economic Environment Beginning with the COVID-19 pandemic, there have been adverse changes in global commercial activity, particularly in the global supply chain and workforce availability, and significant volatility in the global financial markets including, among other effects, occasional declines in the equity markets, changes in interest rates and reduced liquidity on a global basis. Supply and labor market disruptions caused by COVID-19, accommodative monetary and fiscal policy and the Russian invasion of Ukraine have contributed to significant inflation in many of the markets in which we operate. This impacts not only the costs to attract and retain employees but also other costs to run and invest in our business. If our costs grow significantly in excess of our ability to raise revenue, our margins and results of operations may be materially and adversely impacted and we may not be able to achieve our strategic and financial objectives. Although we believe we have adapted to the unique challenges posed by COVID-19 surrounding how and where we do our work, we are also impacted by the negative effect on workforce availability, which could hamper our ability to grow our capacity on pace with increasing demand for our services. We expect the market for talent to remain highly competitive for at least the next several months. We will continue to monitor the situation and assess any implications to our business and our stakeholders.
Fair Value of Financial Instruments	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.

Acquisitions and Divestitures (Tables)

9 Months Ended

Sep. 30, 2022

Business Combinations [Abstract]

Schedule of Selected Financial Information

The following selected financial information relates to the operations of Willis Re for the periods presented:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
Revenue from discontinued operations	$	10		$	111		$	50		$	668
Costs of providing services
Salaries and benefits		5			97			13			291
Other operating expenses		—			29			1			60
Amortization		—			—			—			1
Total costs of providing services		5			126			14			352
Other income, net		—			—			—			1
Income/(loss) from discontinued operations before income taxes		5			(15	)		36			317
Adjustment to gain on disposal of Willis Re		(2	)		—			(65	)		—
Benefit from/(provision for) income taxes		5			3			7			(70	)
Net income payable to Gallagher on Deferred Closing		—			—			(5	)		—
Income/(loss) from discontinued operations, net of tax	$	8		$	(12	)	$	(27	)	$	247

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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Revenue from Contract with Customer [Abstract]

Revenue (Tables)

9 Months Ended

Sep. 30, 2022

Disaggregation of Revenue

The following tables present revenue by service offering and segment, as well as reconciliations to total revenue for the three and nine months ended September 30, 2022 and 2021. Along with reimbursable expenses and other, total revenue by service offering represents our revenue from customer contracts. The prior year segment information has been retrospectively adjusted to conform to the current year presentation.


	Three Months Ended September 30,
	HWC				R&B				Divested Businesses				Corporate (i)					Total
	2022		2021		2022		2021		2022		2021		2022		2021			2022		2021
Broking	$	207	$	189	$	606	$	621	$	—	$	8	$	1	$	—		$	814	$	818
Consulting		616		621		85		92		—		—		2		2			703		715
Outsourced administration		222		245		18		21		—		—		—		—			240		266
Other		111		109		38		38		—		—		—		1			149		148
Total revenue by service offering		1,156		1,164		747		772		—		8		3		3			1,906		1,947
Reimbursable expenses and other (i)		16		13		2		2		—		—		4		(10	)		22		5
Total revenue from customer contracts	$	1,172	$	1,177	$	749	$	774	$	—	$	8	$	7	$	(7	)	$	1,928	$	1,952
Interest and other income (ii)		6		4		18		15		—		—		1		2			25		21
Total revenue	$	1,178	$	1,181	$	767	$	789	$	—	$	8	$	8	$	(5	)	$	1,953	$	1,973


	Nine Months Ended September 30,
	HWC				R&B				Divested Businesses				Corporate (i)					Total
	2022		2021		2022		2021		2022		2021		2022		2021			2022		2021
Broking	$	714	$	645	$	1,963	$	2,026	$	—	$	62	$	8	$	—		$	2,685	$	2,733
Consulting		1,886		1,910		280		292		—		6		7		6			2,173		2,214
Outsourced administration		696		754		61		69		—		—		—		—			757		823
Other		237		257		147		140		—		—		—		3			384		400
Total revenue by service offering		3,533		3,566		2,451		2,527		—		68		15		9			5,999		6,170
Reimbursable expenses and other (i)		43		40		7		5		—		—		3		(10	)		53		35
Total revenue from customer contracts	$	3,576	$	3,606	$	2,458	$	2,532	$	—	$	68	$	18	$	(1	)	$	6,052	$	6,205
Interest and other income (ii)		32		14		57		69		—		—		3		4			92		87
Total revenue	$	3,608	$	3,620	$	2,515	$	2,601	$	—	$	68	$	21	$	3		$	6,144	$	6,292

(i)

(ii)


	Three Months Ended September 30,
	HWC				R&B				Divested Businesses				Corporate				Total
	2022		2021		2022		2021		2022		2021		2022		2021		2022		2021
North America	$	766	$	748	$	326	$	329	$	—	$	5	$	2	$	2	$	1,094	$	1,084
Europe		285		312		297		319		—		3		1		1		583		635
International		105		104		124		124		—		—		—		—		229		228
Total revenue by geography	$	1,156	$	1,164	$	747	$	772	$	—	$	8	$	3	$	3	$	1,906	$	1,947


	Nine Months Ended September 30,
	HWC				R&B				Divested Businesses				Corporate				Total
	2022		2021		2022		2021		2022		2021		2022		2021		2022		2021
North America	$	2,301	$	2,258	$	936	$	922	$	—	$	15	$	6	$	6	$	3,243	$	3,201
Europe		931		1,018		1,128		1,201		—		53		8		3		2,067		2,275
International		301		290		387		404		—		—		1		—		689		694
Total revenue by geography	$	3,533	$	3,566	$	2,451	$	2,527	$	—	$	68	$	15	$	9	$	5,999	$	6,170

Contract with Customer, Asset and Liability


	September 30, 2022		December 31, 2021
Billed receivables, net of allowance for doubtful accounts of $47 million and $45 million	$	1,207	$	1,504
Unbilled receivables		451		431
Current contract assets		226		435
Accounts receivable, net	$	1,884	$	2,370
Non-current accounts receivable, net	$	44	$	23
Non-current contract assets	$	620	$	532
Deferred revenue	$	604	$	576

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 2022		2023		2024 onward		Total
Revenue expected to be recognized on contracts as of September 30, 2022	$	181	$	695	$	900	$	1,776

Segment Information (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment


	Three Months Ended September 30,
	HWC				R&B				Total
	2022		2021		2022		2021		2022		2021
Segment revenue	$	1,162	$	1,168	$	765	$	787	$	1,927	$	1,955

Segment operating income	$	236	$	241	$	105	$	138	$	341	$	379


	Nine Months Ended September 30,
	HWC				R&B				Total
	2022		2021		2022		2021		2022		2021
Segment revenue	$	3,565	$	3,580	$	2,508	$	2,596	$	6,073	$	6,176

Segment operating income	$	710	$	701	$	465	$	545	$	1,175	$	1,246

Net Operating Income of the Reported Segments


	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
Revenue:
Total segment revenue	$	1,927		$	1,955		$	6,073		$	6,176
Divested businesses (i)		—			8			—			68
Reimbursable expenses and other		26			10			71			48
Revenue	$	1,953		$	1,973		$	6,144		$	6,292

Total segment operating income	$	341		$	379		$	1,175		$	1,246
Divested businesses (i)		—			(20	)		—			(49	)
Impairment (ii)		—			—			(81	)		—
Amortization		(71	)		(85	)		(239	)		(285	)
Restructuring costs		(9	)		—			(71	)		—
Transaction and transformation, net (iii)		(50	)		952			(108	)		877
Unallocated, net (iv)		(57	)		(95	)		(206	)		(277	)
Income from operations		154			1,131			470			1,512
Interest expense		(54	)		(50	)		(154	)		(161	)
Other income, net		85			105			205			617
Income from continuing operations before income taxes	$	185		$	1,186		$	521		$	1,968

(i)

Represents the revenue and income from operations of certain Investment, Risk and Reinsurance businesses which were divested in 2021 and not classified as discontinued operations.

(ii)

Represents the impairment related to the net assets of our Russian business that are held outside of our Russian entities (see Note 3 — Acquisitions and Divestitures for further information).

(iii)

(iv)

Restructuring Costs (Tables)

9 Months Ended

Sep. 30, 2022

Restructuring and Related Activities [Abstract]

Summary of Total Restructuring Costs

An analysis of total restructuring costs incurred under the Transformation program by category and by segment and corporate functions, from commencement to September 30, 2022, is as follows:


	HWC		R&B		Corporate		Total
2021
Real estate rationalization	$	—	$	—	$	19	$	19
Technology modernization		—		5		—		5
Process optimization		—		—		—		—
Other		—		—		2		2
2022
Real estate rationalization		—		—		53		53
Technology modernization		—		1		16		17
Process optimization		1		—		—		1
Other		—		—		—		—
Total
Real estate rationalization		—		—		72		72
Technology modernization		—		6		16		22
Process optimization		1		—		—		1
Other		—		—		2		2
Total	$	1	$	6	$	90	$	97

Rollforward of Liability Associated with Cash-based Charges

A rollforward of the liability associated with cash-based charges related to restructuring costs associated with the Transformation program is as follows:


	Real estate rationalization			Technology modernization		Process optimization			Other			Total
Balance at October 1, 2021	$	—		$	—	$	—		$	—		$	—
Charges incurred		—			—		—			2			2
Cash payments		—			—		—			(1	)		(1	)
Balance at December 31, 2021		—			—		—			1			1
Charges incurred		15			—		1			—			16
Cash payments		(12	)		—		(1	)		(1	)		(14	)
Balance at September 30, 2022	$	3		$	—	$	—		$	—		$	3

Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Components of Goodwill


	HWC			R&B			Total
Balance at December 31, 2021:
Goodwill, gross	$	7,904		$	2,771		$	10,675
Accumulated impairment losses		(130	)		(362	)		(492	)
Goodwill, net - December 31, 2021		7,774			2,409			10,183
Goodwill acquired		—			103			103
Goodwill disposals		—			(18	)		(18	)
Foreign exchange		(62	)		(117	)		(179	)
Balance at September 30, 2022:
Goodwill, gross		7,842			2,739			10,581
Accumulated impairment losses		(130	)		(362	)		(492	)
Goodwill, net - September 30, 2022	$	7,712		$	2,377		$	10,089

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 nine months ended September 30, 2022:


	Client relationships			Software			Trademark and trade name			Other			Total
Balance at December 31, 2021:
Intangible assets, gross	$	3,794		$	742		$	1,039		$	102		$	5,677
Accumulated amortization		(2,118	)		(701	)		(257	)		(46	)		(3,122	)
Intangible assets, net - December 31, 2021		1,676			41			782			56			2,555
Intangible assets acquired		60			4			1			—			65
Intangible asset disposals		(1	)		—			—			(5	)		(6	)
Amortization		(173	)		(27	)		(32	)		(7	)		(239	)
Foreign exchange		(57	)		—			(2	)		(2	)		(61	)
Balance at September 30, 2022:
Intangible assets, gross		3,691			710			1,035			95			5,531
Accumulated amortization		(2,186	)		(692	)		(286	)		(53	)		(3,217	)
Intangible assets, net - September 30, 2022	$	1,505		$	18		$	749		$	42		$	2,314

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 2022 and for subsequent years:


	Amortization
Remainder of 2022	$	70
2023		257
2024		224
2025		204
2026		197
Thereafter		1,362
Total	$	2,314

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
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Schedule of Derivative Instruments Designated/Nondesignated As Hedging Instrument Effect on Condensed Consolidated Statements of Comprehensive Income

Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2022

Designated [Member]


	(Loss)/gain recognized in OCI (effective element)
	Three months ended September 30,						Nine months ended September 30,
	2022			2021			2022			2021
Forward exchange contracts	$	(6	)	$	(2	)	$	(12	)	$	3


Location of (loss)/gain reclassified from Accumulated OCL into income (effective element)	(Loss)/gain reclassified from Accumulated OCL into income (effective element)
	Three months ended September 30,						Nine months ended September 30,
	2022			2021			2022			2021
Revenue	$	—		$	(1	)	$	1		$	(3	)
Salaries and benefits		(2	)		2			(1	)		5
Discontinued operations		—			—			—			3
	$	(2	)	$	1		$	—		$	5

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 September 30,						Nine Months Ended September 30,
Derivatives not designated as hedging instruments:	Location of (loss)/gain recognized in income	2022			2021			2022			2021
Forward exchange contracts	Other income, net	$	(182	)	$	(7	)	$	(208	)	$	(36	)

Debt (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Schedule of Current and Long-term Debt

Current debt consists of the following:


	September 30, 2022		December 31, 2021
2.125% senior notes due 2022 (i)	$	—	$	613
4.625% senior notes due 2023		250		—
	$	250	$	613

Long-term debt consists of the following:


	September 30, 2022		December 31, 2021
Revolving $1.5 billion credit facility	$	—	$	—
4.625% senior notes due 2023		—		249
3.600% senior notes due 2024		648		648
4.400% senior notes due 2026		547		546
4.650% senior notes due 2027		744		—
4.500% senior notes due 2028		597		597
2.950% senior notes due 2029		726		726
6.125% senior notes due 2043		271		271
5.050% senior notes due 2048		395		395
3.875% senior notes due 2049		542		542
	$	4,470	$	3,974

(i)

Notes issued in Euro (€540 million).

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2022

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 September 30, 2022 and December 31, 2021:


		Fair Value Measurements on a Recurring Basis at September 30, 2022
	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	$	6	$	—	$	—	$	6
	Fiduciary assets		128		—		—		128
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	$	—	$	—	$	54	$	54
Derivatives:
Derivative financial instruments (i)	Other current liabilities and other non-current liabilities	$	—	$	27	$	—	$	27


		Fair Value Measurements on a Recurring Basis at December 31, 2021
	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	$	9	$	—	$	—	$	9
	Fiduciary assets		152		—		—		152
Certificates of deposit/term deposits	Prepaid and other current assets and other non-current assets		200		—		—		200
Derivatives:
Derivative financial instruments (i)	Prepaid and other current assets and other non-current assets	$	—	$	18	$	—	$	18
Liabilities:
Contingent consideration:
Contingent consideration (ii)	Other current liabilities and other non-current liabilities	$	—	$	—	$	51	$	51
Derivatives:
Derivative financial instruments (i)	Other current liabilities and other non-current liabilities	$	—	$	—	$	—	$	—

(i)

See Note 9 — 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)	September 30, 2022
Balance at December 31, 2021	$	51
Obligations assumed		22
Payments		(22	)
Realized and unrealized losses (i)		5
Foreign exchange		(2	)
Balance at September 30, 2022	$	54

(i)

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

Fair value information about financial instruments not measured at fair value

The following tables present our liabilities not measured at fair value on a recurring basis at September 30, 2022 and December 31, 2021:


	September 30, 2022				December 31, 2021
	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets:
Long-term note receivable	$	62	$	58	$	69	$	70
Liabilities:
Current debt	$	250	$	249	$	613	$	616
Long-term debt	$	4,470	$	4,017	$	3,974	$	4,453

Retirement Benefits (Tables)

9 Months Ended

Sep. 30, 2022

Retirement Benefits [Abstract]

Schedule of Net Periodic Benefit Cost


	Three Months Ended September 30,
	2022											2021
	U.S.			U.K.			Other			PRW		U.S.			U.K.			Other			PRW
Service cost	$	20		$	2		$	6		$	—	$	19		$	4		$	6		$	—
Interest cost		29			18			4			—		24			14			3			—
Expected return on plan assets		(83	)		(34	)		(10	)		—		(79	)		(42	)		(9	)		—
Settlement		3			1			—			—		—			1			2			—
Amortization of net loss		4			7			—			—		8			7			1			1
Amortization of prior service credit		—			(3	)		1			—		—			(4	)		1			(1	)
Net periodic benefit (income)/cost	$	(27	)	$	(9	)	$	1		$	—	$	(28	)	$	(20	)	$	4		$	—


	Nine Months Ended September 30,
	2022												2021
	U.S.			U.K.			Other			PRW			U.S.			U.K.			Other			PRW
Service cost	$	58		$	9		$	17		$	—		$	59		$	13		$	18		$	—
Interest cost		88			54			12			1			71			42			9			1
Expected return on plan assets		(248	)		(110	)		(29	)		—			(233	)		(128	)		(28	)		—
Settlement		3			1			—			—			1			2			2			—
Amortization of net loss		11			22			2			1			30			21			4			2
Amortization of prior service credit		—			(9	)		1			(2	)		—			(13	)		1			(3	)
Net periodic benefit (income)/cost	$	(88	)	$	(33	)	$	3		$	—		$	(72	)	$	(63	)	$	6		$	—

Leases (Tables)

9 Months Ended

Sep. 30, 2022

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 nine months ended September 30, 2022 and 2021:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
Finance lease cost:
Amortization of right-of-use assets	$	—		$	—		$	1		$	1
Interest on lease liabilities		1			1			2			2
Operating lease cost		35			43			130			134
Short-term lease cost		—			—			—			1
Variable lease cost		13			13			47			39
Sublease income		(3	)		(6	)		(12	)		(16	)
Total lease cost, net	$	46		$	51		$	168		$	161

Supplementary Information for Certain Balance Sheet Accounts (Tables)

9 Months Ended

Sep. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Prepaid and Other Current Assets

Prepaid and other current assets consist of the following:


	September 30, 2022		December 31, 2021
Prepayments and accrued income	$	112	$	137
Short-term investments		—		200
Deferred contract costs		63		74
Derivatives and investments		20		35
Deferred compensation plan assets		13		19
Corporate income and other taxes		198		82
Acquired renewal commissions receivable		9		11
Other current assets		61		54
Total prepaid and other current assets	$	476	$	612

Deferred Revenue and Accrued Expenses

Deferred revenue and accrued expenses consist of the following:


	September 30, 2022		December 31, 2021
Accounts payable, accrued liabilities and deferred income	$	876	$	898
Accrued discretionary and incentive compensation		524		811
Accrued vacation		173		145
Other employee-related liabilities		67		72
Total deferred revenue and accrued expenses	$	1,640	$	1,926

Schedule of Other Current Liabilities

Other current liabilities consists of the following:


	September 30, 2022		December 31, 2021
Dividends payable	$	102	$	112
Income and other taxes payable		153		278
Interest payable		30		55
Deferred compensation plan liabilities		12		49
Contingent and deferred consideration on acquisitions		13		24
Accrued retirement benefits		58		65
Derivatives		25		—
Payroll and other benefits-related liabilities		220		230
Third-party commissions		128		101
Other current liabilities		110		101
Total other current liabilities	$	851	$	1,015

Provisions for Liabilities

Provision for liabilities consists of the following:


	September 30, 2022		December 31, 2021
Claims, lawsuits and other proceedings	$	306	$	311
Other provisions		59		64
Total provision for liabilities	$	365	$	375

Schedule of Other Non-current Liabilities

Other non-current liabilities consists of the following:


	September 30, 2022		December 31, 2021
Deferred compensation plan liability	$	75	$	109
Contingent and deferred consideration on acquisitions		41		27
Liabilities for uncertain tax positions		32		43
Finance leases		13		15
Other non-current liabilities		42		59
Total other non-current liabilities	$	203	$	253

Other Income, Net (Tables)

9 Months Ended

Sep. 30, 2022

Other Income and Expenses [Abstract]

Schedule of Other Nonoperating Income

Other income, net consists of the following:


	Three Months Ended September 30,					Nine Months Ended September 30,
	2022			2021		2022			2021
Gain/(loss) on disposal of operations (i)	$	21		$	23	$	(11	)	$	380
Net periodic pension and postretirement benefit credits		64			79		204			227
Interest in earnings of associates and other investments		—			1		4			5
Foreign exchange (loss)/gain		(1	)		1		4			4
Other		1			1		4			1
Other income, net	$	85		$	105	$	205		$	617

(i)

For the nine months ended September 30, 2022, includes a $24 million non-cash revaluation gain related to an acquisition completed in stages.

Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2022

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
	2022			2021			2022			2021			2022			2021			2022			2021
Quarter-to-date activity:
Balance at June 30, 2022 and 2021, respectively	$	(794	)	$	(376	)	$	6		$	13		$	(1,698	)	$	(1,915	)	$	(2,486	)	$	(2,278	)
Other comprehensive (loss)/income before reclassifications		(240	)		(81	)		(5	)		(1	)		5			2			(240	)		(80	)
Loss/(gain) reclassified from accumulated other comprehensive loss (net of income tax benefit of $2 and $8, respectively)		—			—			1			(1	)		5			—			6			(1	)
Net current-period other comprehensive (loss)/income		(240	)		(81	)		(4	)		(2	)		10			2			(234	)		(81	)
Balance at September 30, 2022 and 2021, respectively	$	(1,034	)	$	(457	)	$	2		$	11		$	(1,688	)	$	(1,913	)	$	(2,720	)	$	(2,359	)

Year-to-date activity:
Balance at December 31, 2021 and 2020, respectively	$	(489	)	$	(400	)	$	11		$	9		$	(1,708	)	$	(1,968	)	$	(2,186	)	$	(2,359	)
Other comprehensive (loss)/income before reclassifications		(545	)		(101	)		(8	)		7			3			2			(550	)		(92	)
Loss/(gain) reclassified from accumulated other comprehensive loss (net of income tax benefit of $6 and $15, respectively) (iii)		—			44			(1	)		(5	)		17			53			16			92
Net current-period other comprehensive (loss)/income		(545	)		(57	)		(9	)		2			20			55			(534	)		—
Balance at September 30, 2022 and 2021, respectively	$	(1,034	)	$	(457	)	$	2		$	11		$	(1,688	)	$	(1,913	)	$	(2,720	)	$	(2,359	)

(i)

(ii)

(iii)

Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings Per Share

Basic and diluted earnings per share are as follows:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
Income from continuing operations	$	184		$	919		$	458		$	1,582
Less: income attributable to non-controllable interests		(2	)		(4	)		(10	)		(9	)
Income from continuing operations attributable to WTW	$	182		$	915		$	448		$	1,573

Income/(loss) from discontinued operations, net of tax	$	8		$	(12	)	$	(27	)	$	247

Basic average number of shares outstanding		110			129			113			130
Dilutive effect of potentially issuable shares		1			—			1			—
Diluted average number of shares outstanding		111			129			114			130

Basic earnings per share from continuing operations attributable to WTW	$	1.65		$	7.10		$	3.95		$	12.14
Dilutive effect of potentially issuable shares		—			(0.02	)		—			(0.04	)
Diluted earnings per share from continuing operations attributable to WTW	$	1.65		$	7.08		$	3.95		$	12.10

Basic earnings/(loss) per share from discontinued operations, net of tax	$	0.07		$	(0.09	)	$	(0.24	)	$	1.90
Dilutive effect of potentially issuable shares		—			—			—			—
Diluted earnings/(loss) per share from discontinued operations, net of tax	$	0.07		$	(0.09	)	$	(0.24	)	$	1.90

Supplemental Disclosures of Cash Flow Information (Tables)

9 Months Ended

Sep. 30, 2022

Supplemental Cash Flow Elements [Abstract]

Supplemental Disclosures Regarding Cash Flow Information and Non-cash Flow Investing and Financing Activities

Supplemental disclosures regarding cash flow information are as follows:


	Nine months ended September 30,
	2022			2021
Supplemental disclosures of cash flow information:
Cash and cash equivalents	$	1,496		$	2,162
Fiduciary funds (included in fiduciary assets)		3,170			3,963
Cash and cash equivalents and fiduciary funds (included in current assets held for sale)		5			53
Other restricted cash (included in prepaids and other current assets)		—			6
Total cash, cash equivalents and restricted cash	$	4,671		$	6,184

(Decrease)/increase in cash, cash equivalents and other restricted cash	$	(2,904	)	$	149
Increase/(decrease) in fiduciary funds		174			(167	)
Total	$	(2,730	)	$	(18	)

Nature of Operations (Details)	Sep. 30, 2022 Employee Country
Minority Interest [Line Items]
Number of employees employed (more than 46,000) \| Employee	44,000
Number of countries in which entity operates (more than 140) \| Country	140

Acquisitions and Divestitures (Additional Information) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Business Combination and Asset Acquisition [Abstract]
Acquisitions, cash payment	$ 109
Acquisitions, contingent consideration	$ 22

Acquisitions and Divestitures - Divestment of Russian Business (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2022	Sep. 30, 2022	Sep. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]
Deconsolidation, Gain (Loss), Amount	$ (57)
Impairment	$ 81	$ 81	$ 0

Acquisitions and Divestitures - Willis Re Divestiture (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Aug. 13, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Preliminary pre-tax gain on sale			$ (76)	$ 380
Gallagher [Member] \| Transition Services Agreement [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Maximum expected service period			2 years
Fees earned under service agreement	$ 8		$ 31
Willis Re [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total consideration received from sale of subsidiary						$ 3,250
Preliminary pre-tax gain on sale		$ (60)			$ 2,300
Fiduciary liabilities excluded from held for sale	3,800		3,800		2,600
Accounts receivable, net balances excluded from held-for-sale	62		62		71
Other current liabilities excluded from held for sale	$ 137		$ 137		$ 91
Willis Re [Member] \| Maximum [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Earnout receivable in cash in 2025						$ 750

Acquisitions and Divestitures - Schedule of Selected Financial Information Relates to the Operations of Willis Re (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Adjustment to gain on disposal of Willis Re			$ (76,000,000)	$ 380,000,000
Income/(loss) from discontinued operations, net of tax	$ 8,000,000	$ (12,000,000)	(27,000,000)	247,000,000
Willis Re [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue from discontinued operations	10,000,000	111,000,000	50,000,000	668,000,000
Salaries and benefits	5,000,000	97,000,000	13,000,000	291,000,000
Other operating expenses	(0)	29,000,000	1,000,000	60,000,000
Amortization	0	0	0	1,000,000
Total costs of providing services	5,000,000	126,000,000	14,000,000	352,000,000
Other income, net	0	0	0	1,000,000
Income/(loss) from discontinued operations before income taxes	5,000,000	(15,000,000)	36,000,000	317,000,000
Adjustment to gain on disposal of Willis Re	(2,000,000)	0	(65,000,000)	0
Benefit from/(provision for) income taxes	5,000,000	3,000,000	7,000,000	(70,000,000)
Net income payable to Gallagher on Deferred Closing	0	0	(5,000,000)	0
Income/(loss) from discontinued operations, net of tax	$ 8,000,000	$ (12,000,000)	$ (27,000,000)	$ 247,000,000

Acquisitions and Divestitures - Miller Divestiture (Details) £ in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Mar. 01, 2021 GBP (£)	Mar. 01, 2021 USD ($)
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Tax exempt gain on sale	$ (76)	$ 380
Miller [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Final total consideration received from sale of subsidiary			£ 623	$ 818
Miller [Member] \| Other Income, Net [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Tax exempt gain on sale	$ 356

Acquisitions and Divestitures - Other Disposals (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Discontinued Operations and Disposal Groups [Abstract]
Cash proceeds from other disposals	$ 1
Non-cash proceeds from other disposals	43
Gain on disposal	$ 46

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

3 Months Ended

9 Months Ended

Sep. 30, 2022

Sep. 30, 2021

Sep. 30, 2022

Sep. 30, 2021

Revenue from Contract with Customer, Excluding Assessed Tax

$ 1,928

$ 1,952

$ 6,052

$ 6,205

^[1]

^[2]

1,953

1,973

6,144

6,292

HWC [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

1,172

1,177

3,576

3,606

^[1]

^[2]

1,178

1,181

3,608

3,620

R&B [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

749

774

2,458

2,532

^[1]

^[2]

Divested Businesses [Member]

767

789

2,515

2,601

Revenue from Contract with Customer, Excluding Assessed Tax

^[1]

^[2]

^[3]

Corporate, Non-Segment

Revenue from Contract with Customer, Excluding Assessed Tax

^[1]

(7)

(1)

^[1]

(10)

^[1],[2]

^[1]

(5)

Broking [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

814

818

2,685

2,733

Broking [Member] | HWC [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

207

189

714

645

Broking [Member] | R&B [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

606

621

1,963

2,026

Broking [Member] | Divested Businesses [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

Broking [Member] | Corporate, Non-Segment

Revenue from Contract with Customer, Excluding Assessed Tax

^[1]

Consulting [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

703

715

2,173

2,214

Consulting [Member] | HWC [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

616

621

1,886

1,910

Consulting [Member] | R&B [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

280

292

Consulting [Member] | Divested Businesses [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

Consulting [Member] | Corporate, Non-Segment

Revenue from Contract with Customer, Excluding Assessed Tax

^[1]

Outsourced administration [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

240

266

757

823

Outsourced administration [Member] | HWC [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

222

245

696

754

Outsourced administration [Member] | R&B [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

Outsourced administration [Member] | Divested Businesses [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

Outsourced administration [Member] | Corporate, Non-Segment

Revenue from Contract with Customer, Excluding Assessed Tax

^[1]

Other [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

149

148

384

400

Other [Member] | HWC [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

111

109

237

257

Other [Member] | R&B [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

147

140

Other [Member] | Divested Businesses [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

Other [Member] | Corporate, Non-Segment

Revenue from Contract with Customer, Excluding Assessed Tax

^[1]

Service

Revenue from Contract with Customer, Excluding Assessed Tax

1,906

1,947

5,999

6,170

Service | HWC [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

1,156

1,164

3,533

3,566

Service | R&B [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

747

772

2,451

2,527

Service | Divested Businesses [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

Service | Corporate, Non-Segment

Revenue from Contract with Customer, Excluding Assessed Tax

^[1]

$ 3

$ 15

$ 9

[1]	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. Amounts included in Corporate revenue may include eliminations and impacts from hedged revenue transactions.
[2]	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. In 2022, both HWC’s and R&B’s interest and other income resulted primarily from book-of-business settlements. For HWC, these amounts totaled $2 million and $19 million, respectively, for the three and nine months ended September 30, 2022. For R&B, these amounts totaled $11 million and $41 million, respectively, for the three and nine months ended September 30, 2022. In the three and nine months ended September 30, 2021, HWC had no material settlements, and R&B had settlements totaling $12 million and $59 million, respectively.
[3]	Represents the revenue and income from operations of certain Investment, Risk and Reinsurance businesses which were divested in 2021 and not classified as discontinued operations.

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

3 Months Ended

9 Months Ended

Sep. 30, 2022

Sep. 30, 2021

Sep. 30, 2022

Sep. 30, 2021

^[1]

$ 25

$ 21

$ 92

$ 87

HWC [Member]

HWC [Member] | Book of Business Settlements [Member]

^[1]

R&B [Member]

R&B [Member] | Book of Business Settlements [Member]

^[1]

$ 11

$ 12

$ 41

$ 59

[1]

Revenue - Narrative (Details) - USD ($)	3 Months Ended	9 Months Ended
Revenue - Narrative (Details) - USD ($)	Sep. 30, 2022	Sep. 30, 2022
Disaggregation Of Revenue [Line Items]
Contract with Customer, Performance Obligation Satisfied in Previous Period	$ 1,000,000	$ 6,000,000
December 31 2021 [Member]
Disaggregation Of Revenue [Line Items]
Contract with Customer, Liability, Revenue Recognized	53,000,000	$ 363
June 30 2022 [Member]
Disaggregation Of Revenue [Line Items]
Contract with Customer, Liability, Revenue Recognized	$ 232,000,000

Revenue - Schedule of Revenue by Geography (Detail) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2022

Sep. 30, 2021

Sep. 30, 2022

Sep. 30, 2021

Revenue from Contract with Customer, Excluding Assessed Tax

$ 1,928

$ 1,952

$ 6,052

$ 6,205

Service

Revenue from Contract with Customer, Excluding Assessed Tax

1,906

1,947

5,999

6,170

Operating Segments [Member] | Service

Revenue from Contract with Customer, Excluding Assessed Tax

1,906

1,947

5,999

6,170

Corporate, Non-Segment

Revenue from Contract with Customer, Excluding Assessed Tax

^[1]

(7)

(1)

Corporate, Non-Segment | Service

Revenue from Contract with Customer, Excluding Assessed Tax

^[1]

HWC [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

1,172

1,177

3,576

3,606

HWC [Member] | Service

Revenue from Contract with Customer, Excluding Assessed Tax

1,156

1,164

3,533

3,566

HWC [Member] | Operating Segments [Member] | Service

Revenue from Contract with Customer, Excluding Assessed Tax

1,156

1,164

3,533

3,566

R&B [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

749

774

2,458

2,532

R&B [Member] | Service

Revenue from Contract with Customer, Excluding Assessed Tax

747

772

2,451

2,527

R&B [Member] | Operating Segments [Member] | Service

Revenue from Contract with Customer, Excluding Assessed Tax

747

772

2,451

2,527

Divested Businesses [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

Divested Businesses [Member] | Service

Revenue from Contract with Customer, Excluding Assessed Tax

Divested Businesses [Member] | Operating Segments [Member] | Service

Revenue from Contract with Customer, Excluding Assessed Tax

North America [Member] | Operating Segments [Member] | Service

Revenue from Contract with Customer, Excluding Assessed Tax

1,094

1,084

3,243

3,201

North America [Member] | Corporate, Non-Segment | Service

Revenue from Contract with Customer, Excluding Assessed Tax

North America [Member] | HWC [Member] | Operating Segments [Member] | Service

Revenue from Contract with Customer, Excluding Assessed Tax

766

748

2,301

2,258

North America [Member] | R&B [Member] | Operating Segments [Member] | Service

Revenue from Contract with Customer, Excluding Assessed Tax

326

329

936

922

North America [Member] | Divested Businesses [Member] | Operating Segments [Member] | Service

Revenue from Contract with Customer, Excluding Assessed Tax

Europe [Member] | Operating Segments [Member] | Service

Revenue from Contract with Customer, Excluding Assessed Tax

583

635

2,067

2,275

Europe [Member] | Corporate, Non-Segment | Service

Revenue from Contract with Customer, Excluding Assessed Tax

Europe [Member] | HWC [Member] | Operating Segments [Member] | Service

Revenue from Contract with Customer, Excluding Assessed Tax

285

312

931

1,018

Europe [Member] | R&B [Member] | Operating Segments [Member] | Service

Revenue from Contract with Customer, Excluding Assessed Tax

297

319

1,128

1,201

Europe [Member] | Divested Businesses [Member] | Operating Segments [Member] | Service

Revenue from Contract with Customer, Excluding Assessed Tax

International [Member] | Operating Segments [Member] | Service

Revenue from Contract with Customer, Excluding Assessed Tax

229

228

689

694

International [Member] | Corporate, Non-Segment | Service

Revenue from Contract with Customer, Excluding Assessed Tax

International [Member] | HWC [Member] | Operating Segments [Member] | Service

Revenue from Contract with Customer, Excluding Assessed Tax

105

104

301

290

International [Member] | R&B [Member] | Operating Segments [Member] | Service

Revenue from Contract with Customer, Excluding Assessed Tax

124

387

404

International [Member] | Divested Businesses [Member] | Operating Segments [Member] | Service

Revenue from Contract with Customer, Excluding Assessed Tax

$ 0

[1]

Revenue - Schedule of Contract Balances (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Billed Receivable, Current	$ 1,207	$ 1,504
Unbilled Receivable, Current	451	431
Contract asset, Current	226	435
Accounts receivable, net	1,884	2,370
Non-current accounts receivable, net	44	23
Contract asset, Noncurrent	620	532
Deferred revenue	$ 604	$ 576

Revenue - Schedule of Contract Balances (Parenthetical) (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Allowance for doubtful debts	$ 47	$ 45

Revenue - Schedule of Remaining Performance Obligations (Details) $ in Millions	Sep. 30, 2022 USD ($)
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation	$ 1,776
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation	$ 181
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation	$ 695
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation	$ 900
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year

Revenue - Schedule of Remaining Performance Obligations (Details1) $ in Millions	Sep. 30, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation	$ 1,776

Segment Information - Narrative (Details)	9 Months Ended
Segment Information - Narrative (Details)	Sep. 30, 2022 Segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Information - Revenue (Net of Reimbursable Expenses) of the Reported Segments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Revenues	$ 1,953	$ 1,973	$ 6,144	$ 6,292
Income from operations	154	1,131	470	1,512
HWC [Member]
Segment Reporting Information [Line Items]
Revenues	1,178	1,181	3,608	3,620
R&B [Member]
Segment Reporting Information [Line Items]
Revenues	767	789	2,515	2,601
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	1,927	1,955	6,073	6,176
Income from operations	341	379	1,175	1,246
Operating Segments [Member] \| HWC [Member]
Segment Reporting Information [Line Items]
Revenues	1,162	1,168	3,565	3,580
Income from operations	236	241	710	701
Operating Segments [Member] \| R&B [Member]
Segment Reporting Information [Line Items]
Revenues	765	787	2,508	2,596
Income from operations	$ 105	$ 138	$ 465	$ 545

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

3 Months Ended

9 Months Ended

Sep. 30, 2022

Mar. 31, 2022

Sep. 30, 2021

Sep. 30, 2022

Sep. 30, 2021

Revenue:

Income/(loss) from operations

$ 1,953

$ 1,973

$ 6,144

$ 6,292

154

1,131

470

1,512

Impairment

$ (81)

(81)

Amortization

(71)

(85)

(239)

(285)

Restructuring costs

(9)

(71)

Interest expense

(54)

(50)

(154)

(161)

Other income, net

105

205

617

Income from continuing operations before income taxes

185

1,186

521

1,968

Divested Businesses [Member]

Revenue:

Operating Segments [Member]

^[1]

Revenue:

Income/(loss) from operations

1,927

1,955

6,073

6,176

341

379

1,175

1,246

Segment Reconciling Items [Member]

Revenue:

Income/(loss) from operations

154

1,131

470

1,512

Divested businesses

^[1]

(20)

(49)

Impairment

^[2]

(81)

Amortization

(71)

(85)

(239)

(285)

Restructuring costs

(9)

(71)

Transaction and transformation, net

^[3]

(50)

952

(108)

877

Unallocated, net

^[4]

(57)

(95)

(206)

(277)

Interest expense

(54)

(50)

(154)

(161)

Other income, net

$ 85

$ 105

$ 205

$ 617

[1]	Represents the revenue and income from operations of certain Investment, Risk and Reinsurance businesses which were divested in 2021 and not classified as discontinued operations.
[2]	Represents the impairment related to the net assets of our Russian business that are held outside of our Russian entities (see Note 3 — Acquisitions and Divestitures for further information).
[3]	In 2022, in addition to legal fees and other transaction costs, includes primarily consulting fees related to the Transformation program (see Note 6 — Restructuring Costs). In 2021, includes the $1 billion income receipt related to the termination of, and fees related to, our then-proposed Aon combination.
[4]	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.

Segment Information - Reconciliation of Information Reported by Segment to Condensed Consolidated Statement of Comprehensive Income Amounts (Parenthetical) (Details) $ in Billions	12 Months Ended
	Dec. 31, 2021 USD ($)
Termination Agreement [Member] \| Termination of Proposed Combination with AON Plc [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Termination payment	$ 1

Restructuring Costs - Narrative (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Restructuring Cost and Reserve [Line Items]
Transaction and transformation, net	$ 50		$ (952)	$ 108	$ (877)
Transformation Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring, description				the Company initiated a three-year ‘Transformation program’ designed to enhance operations, optimize technology and align its real estate footprint to its new ways of working
Restructuring, Expected future effects	900
Transaction and transformation, net	42			$ 73
Transformation Program [Member] \| Projected Annual Cost Savings by End of 2024 [Member]
Restructuring Cost and Reserve [Line Items]
Annual cost savings of program	360
Transformation Program [Member] \| Cumulative Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring, Expected future effects	$ 630
Transformation Program [Member] \| Capital Expenditures [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring, Expected future effects		$ 270

Restructuring Costs - Summary of Total Restructuring Costs (Details) - Transformation Program [Member] - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Dec. 31, 2021
Total Restructuring Costs [Member]
Restructuring Cost and Reserve [Line Items]
Total		$ 97
Real Estate Rationalization [Member]
Restructuring Cost and Reserve [Line Items]
Total	$ 53		$ 19
Real Estate Rationalization [Member] \| Total Restructuring Costs [Member]
Restructuring Cost and Reserve [Line Items]
Total		72
Technology Modernization [Member]
Restructuring Cost and Reserve [Line Items]
Total	17		5
Technology Modernization [Member] \| Total Restructuring Costs [Member]
Restructuring Cost and Reserve [Line Items]
Total		22
Process optimization [Member]
Restructuring Cost and Reserve [Line Items]
Total	1
Process optimization [Member] \| Total Restructuring Costs [Member]
Restructuring Cost and Reserve [Line Items]
Total		1
Other [Member]
Restructuring Cost and Reserve [Line Items]
Total			2
Other [Member] \| Total Restructuring Costs [Member]
Restructuring Cost and Reserve [Line Items]
Total		2
Corporate, Non-Segment \| Total Restructuring Costs [Member]
Restructuring Cost and Reserve [Line Items]
Total		90
Corporate, Non-Segment \| Real Estate Rationalization [Member]
Restructuring Cost and Reserve [Line Items]
Total	53		19
Corporate, Non-Segment \| Real Estate Rationalization [Member] \| Total Restructuring Costs [Member]
Restructuring Cost and Reserve [Line Items]
Total		72
Corporate, Non-Segment \| Technology Modernization [Member]
Restructuring Cost and Reserve [Line Items]
Total	16
Corporate, Non-Segment \| Technology Modernization [Member] \| Total Restructuring Costs [Member]
Restructuring Cost and Reserve [Line Items]
Total		16
Corporate, Non-Segment \| Other [Member]
Restructuring Cost and Reserve [Line Items]
Total			2
Corporate, Non-Segment \| Other [Member] \| Total Restructuring Costs [Member]
Restructuring Cost and Reserve [Line Items]
Total		2
HWC [Member] \| Total Restructuring Costs [Member]
Restructuring Cost and Reserve [Line Items]
Total		1
HWC [Member] \| Process optimization [Member]
Restructuring Cost and Reserve [Line Items]
Total	1
HWC [Member] \| Process optimization [Member] \| Total Restructuring Costs [Member]
Restructuring Cost and Reserve [Line Items]
Total		1
R&B [Member] \| Total Restructuring Costs [Member]
Restructuring Cost and Reserve [Line Items]
Total		6
R&B [Member] \| Technology Modernization [Member]
Restructuring Cost and Reserve [Line Items]
Total	$ 1		$ 5
R&B [Member] \| Technology Modernization [Member] \| Total Restructuring Costs [Member]
Restructuring Cost and Reserve [Line Items]
Total		$ 6

Restructuring Costs - Rollforward of Liability Associated with Cash-based Charges (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Restructuring Cost and Reserve [Line Items]
Charges incurred	$ 9		$ 0	$ 71	$ 0
Transformation Program [Member]
Restructuring Cost and Reserve [Line Items]
Beginning Balance		$ 0		1
Charges incurred		2		16
Cash payments		(1)		(14)
Ending Balance	3	1	0	3	0
Transformation Program [Member] \| Real Estate Rationalization [Member]
Restructuring Cost and Reserve [Line Items]
Charges incurred				15
Cash payments				(12)
Ending Balance	3			3
Transformation Program [Member] \| Other [Member]
Restructuring Cost and Reserve [Line Items]
Beginning Balance		0		1
Charges incurred		2
Cash payments		(1)		(1)
Ending Balance	$ 0	$ 1	$ 0	0	$ 0
Transformation Program [Member] \| Process optimization [Member]
Restructuring Cost and Reserve [Line Items]
Charges incurred				1
Cash payments				$ (1)

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Operating Loss Carryforwards [Line Items]
Provision for income taxes	$ (1)	$ (267)	$ (63)	$ (386)
Effective tax rate	0.70%	22.50%	12.10%	19.60%
Liabilities for uncertain tax positions	$ 31		$ 31
Minimum [Member]
Operating Loss Carryforwards [Line Items]
Expected decrease in liability for uncertain tax position	3		3
Maximum [Member]
Operating Loss Carryforwards [Line Items]
Expected decrease in liability for uncertain tax position	$ 4		$ 4

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

Goodwill and Other Intangible Assets - Components of Goodwill (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Goodwill [Roll Forward]
Goodwill, gross, beginning balance	$ 10,675
Accumulated impairment losses, beginning balance	(492)
Goodwill, net, beginning balance	10,183
Goodwill acquired	103
Goodwill disposals	(18)
Foreign exchange	179
Goodwill, gross, ending balance	10,581
Accumulated impairment losses, ending balance	(492)
Goodwill, net, ending balance	10,089
HWC [Member]
Goodwill [Roll Forward]
Goodwill, gross, beginning balance	7,904
Accumulated impairment losses, beginning balance	(130)
Goodwill, net, beginning balance	7,774
Goodwill acquired	0
Goodwill disposals	0
Foreign exchange	62
Goodwill, gross, ending balance	7,842
Accumulated impairment losses, ending balance	(130)
Goodwill, net, ending balance	7,712
R&B [Member]
Goodwill [Roll Forward]
Goodwill, gross, beginning balance	2,771
Accumulated impairment losses, beginning balance	(362)
Goodwill, net, beginning balance	2,409
Goodwill acquired	103
Goodwill disposals	18
Foreign exchange	117
Goodwill, gross, ending balance	2,739
Accumulated impairment losses, ending balance	(362)
Goodwill, net, ending balance	$ 2,377

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Finite-lived Intangible Assets [Roll Forward]
Finite-lived intangible assets, gross carrying amount	$ 5,531		$ 5,531		$ 5,677
Finite-lived intangible assets, accumulated amortization	(3,217)		(3,217)		(3,122)
Finite-lived intangible assets, net amount	2,314		2,314		2,555
Intangible assets acquired			65
Intangible asset disposals			(6)
Amortization	(71)	$ (85)	(239)	$ (285)
Foreign exchange			(61)
Client relationships [Member]
Finite-lived Intangible Assets [Roll Forward]
Finite-lived intangible assets, gross carrying amount	3,691		3,691		3,794
Finite-lived intangible assets, accumulated amortization	(2,186)		(2,186)		(2,118)
Finite-lived intangible assets, net amount	1,505		1,505		1,676
Intangible assets acquired			60
Intangible asset disposals			(1)
Amortization			(173)
Foreign exchange			(57)
Software [Member]
Finite-lived Intangible Assets [Roll Forward]
Finite-lived intangible assets, gross carrying amount	710		710		742
Finite-lived intangible assets, accumulated amortization	(692)		(692)		(701)
Finite-lived intangible assets, net amount	18		18		41
Intangible assets acquired			4
Intangible asset disposals			0
Amortization			(27)
Foreign exchange			0
Trademark and trade name [Member]
Finite-lived Intangible Assets [Roll Forward]
Finite-lived intangible assets, gross carrying amount	1,035		1,035		1,039
Finite-lived intangible assets, accumulated amortization	(286)		(286)		(257)
Finite-lived intangible assets, net amount	749		749		782
Intangible assets acquired			1
Intangible asset disposals			0
Amortization			(32)
Foreign exchange			(2)
Other [Member]
Finite-lived Intangible Assets [Roll Forward]
Finite-lived intangible assets, gross carrying amount	95		95		102
Finite-lived intangible assets, accumulated amortization	(53)		(53)		(46)
Finite-lived intangible assets, net amount	$ 42		42		$ 56
Intangible assets acquired			0
Intangible asset disposals			(5)
Amortization			(7)
Foreign exchange			$ (2)

Goodwill and Other Intangible Assets - Narrative (Details)	9 Months Ended
	Sep. 30, 2022
Finite-lived Intangible Assets [Roll Forward]
Weighted average remaining life of amortizable intangible assets	12 years 7 months 6 days

Goodwill and Other Intangible Assets - Schedule of Future Estimated Amortization Expense for Amortizable Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
Remainder of 2022	$ 70
2023	257
2024	224
2025	204
2026	197
Thereafter	1,362
Total	$ 2,314	$ 2,555

Derivative Financial Instruments - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Derivative [Line Items]
Gains/losses on derivatives to be reclassified within the next twelve months	$ (6)
Maximum [Member]
Derivative [Line Items]
Longest outstanding maturity	1 year 8 months 12 days
Not Designated as Hedging Instrument [Member] \| Foreign exchange contracts [Member]
Derivative [Line Items]
Derivative, notional amount	$ 2,200	$ 2,900
Derivative liability, fair value	15
Derivative assets, fair value		15
Cash Flow Hedging [Member] \| Designated as Hedging Instrument [Member] \| Foreign exchange contracts [Member]
Derivative [Line Items]
Derivative, notional amount	127	155
Derivative liability, fair value	$ 9
Derivative assets, fair value		$ 3

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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Derivative [Line Items]
(Loss)/gain recognized in OCI (effective element)	$ (6)	$ (2)	$ (12)	$ 3
Gain/(loss) reclassified from Accumulated OCL into income (effective element)	(2)	1	0	5
Revenue [Member]
Derivative [Line Items]
Gain/(loss) reclassified from Accumulated OCL into income (effective element)	0	(1)	1	(3)
Salaries and Benefits [Member]
Derivative [Line Items]
Gain/(loss) reclassified from Accumulated OCL into income (effective element)	(2)	2	(1)	5
Discontinued Operations [Member]
Derivative [Line Items]
Gain/(loss) reclassified from Accumulated OCL into income (effective element)	$ 0	$ 0	$ 0	$ 3

Derivative Financial Instruments - Schedule of Derivative Instruments, Effect on Condensed Consolidated Statements of Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Other income, net [Member] \| Not Designated as Hedging Instrument [Member] \| Foreign exchange contracts [Member]
Derivative [Line Items]
(Loss)/gain recognized in income	$ (182)	$ (7)	$ (208)	$ (36)

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

9 Months Ended

12 Months Ended

Sep. 30, 2022

EUR (€)

Dec. 31, 2021

USD ($)

Sep. 30, 2022

USD ($)

Current debt

$ 613,000,000

$ 250,000,000

Revolving15 Billion Dollar Credit Facility Member | Revolving Credit Facility [Member]

3,974,000,000

4,470,000,000

Maximum borrowing capacity

1,500,000,000

2.125% senior notes due 2022 [Member]

Current debt

^[1]

$ 613,000,000

$ 0

2.125%

Long-term debt, excluding current maturities | €

2022

€ 540

4.625% senior notes due 2023 [Member]

Current debt

$ 0

$ 250,000,000

4.625%

2023

3.600% senior notes due 2024 [Member]

$ 249,000,000

$ 0

3.60%

2024

4.400% senior notes due 2026 [Member]

$ 648,000,000

4.40%

2026

4.650% senior notes due 2027 [Member]

$ 546,000,000

$ 547,000,000

4.65%

2027

4.500% senior notes due 2028 [Member]

$ 0

$ 744,000,000

4.50%

2028

2.950% senior notes due 2029 [Member]

$ 597,000,000

2.95%

2029

6.125% senior notes due 2043 [Member]

$ 726,000,000

6.125%

2043

5.050% senior notes due 2048 [Member]

$ 271,000,000

5.05%

2048

3.875% senior notes due 2049 [Member]

$ 395,000,000

3.875%

2049

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

$ 542,000,000

[1]	Notes issued in Euro (€540 million).

Debt - Narrative (Details) € in Millions, $ in Millions			9 Months Ended
Debt - Narrative (Details) € in Millions, $ in Millions	May 19, 2022 EUR (€)	May 19, 2022 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2021
Senior Notes [Member]
Debt Instrument [Line Items]
Description of interest accrual date			Interest on the 2027 senior notes accrues from May 19, 2022 and will be paid in cash on June 15 and December 15 of each year, commencing on December 15, 2022
Proceeds from debt, net of issuance costs		$ 744
4.650% senior notes due 2027 [Member]
Debt Instrument [Line Items]
Stated interest rate			4.65%	4.65%
4.650% senior notes due 2027 [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Stated interest rate		4.65%
Debt instrument, face amount		$ 750
Effective interest rate (as a percent)		4.79%
Maturity date	Jun. 15, 2027	Jun. 15, 2027
2.125% senior notes due 2022 [Member]
Debt Instrument [Line Items]
Stated interest rate			2.125%	2.125%
Repayment of debt	€ 540		$ 582

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

Sep. 30, 2022

USD ($)

Dec. 31, 2021

USD ($)

Fair value inputs, weighted-average discount rate

0.1199

0.1192

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

Fair value inputs, weighted-average discount rate

0.0353

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

Fair value inputs, weighted-average discount rate

0.1380

Recurring [Member]

Assets:

$ 6

$ 9

^[1]

^[2]

Recurring [Member] | Certificates of Deposit And Term Deposits [Member]

^[1]

Assets:

Recurring [Member] | Fiduciary Assets [Member]

200

Assets:

Recurring [Member] | Level 1 [Member]

128

152

Assets:

^[1]

^[2]

Recurring [Member] | Level 1 [Member] | Certificates of Deposit And Term Deposits [Member]

^[1]

Assets:

Recurring [Member] | Level 1 [Member] | Fiduciary Assets [Member]

200

Assets:

Recurring [Member] | Level 2 [Member]

128

152

Assets:

^[1]

^[2]

Recurring [Member] | Level 2 [Member] | Certificates of Deposit And Term Deposits [Member]

^[1]

Assets:

Recurring [Member] | Level 2 [Member] | Fiduciary Assets [Member]

Assets:

Recurring [Member] | Level 3 [Member]

Assets:

^[1]

^[2]

Recurring [Member] | Level 3 [Member] | Certificates of Deposit And Term Deposits [Member]

^[1]

Assets:

Recurring [Member] | Level 3 [Member] | Fiduciary Assets [Member]

Assets:

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]

$ 0

[1]

See Note 9 — 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

9 Months Ended

Sep. 30, 2022

USD ($)

Balance as of beginning of period

$ 51

Obligations assumed

Payments

(22)

Realized and unrealized losses

^[1]

Foreign exchange

(2)

Balance as of end of period

$ 54

[1]	Realized and unrealized losses include accretion and adjustments to contingent consideration liabilities, which are included within Interest expense and Other operating expenses, respectively, on the condensed consolidated statements of comprehensive income.

Fair Value Measurements - Narrative (Details)	9 Months Ended
Fair Value Measurements - Narrative (Details)	Sep. 30, 2022 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	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current debt	$ 250	$ 613
Long-term debt	4,470	3,974
Carrying Value [Member] \| Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term note receivable	62	69
Current debt	250	613
Long-term debt	4,470	3,974
Fair Value [Member] \| Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term note receivable	58	70
Current debt	249	616
Long-term debt	$ 4,017	$ 4,453

Retirement Benefits - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
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	$ 34	$ 36	$ 114	$ 118
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	0		0
Pension Plan [Member] \| United Kingdom [Member]
Compensation and Retirement Disclosure [Line Items]
Defined benefit pension plans, employer contributions			23
Defined benefit plan, estimated future employer additional contributions, remainder of fiscal year	13		13
Pension Plan [Member] \| Other Foreign Plans [Member]
Compensation and Retirement Disclosure [Line Items]
Defined benefit pension plans, employer contributions			22
Defined benefit plan, estimated future employer additional contributions, remainder of fiscal year	$ 2		$ 2

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

Other Income and Expenses [Abstract]

Retirement Benefits - Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Pension Plan [Member] \| United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 20	$ 19	$ 58	$ 59
Interest cost	29	24	88	71
Expected return on plan assets	(83)	(79)	(248)	(233)
Settlement	3	0	3	1
Amortization of net loss	4	8	11	30
Amortization of prior service credit	0	0	0	0
Net periodic benefit (income)/cost	(27)	(28)	(88)	(72)
Pension Plan [Member] \| United Kingdom [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	2	4	9	13
Interest cost	18	14	54	42
Expected return on plan assets	(34)	(42)	(110)	(128)
Settlement	1	1	1	2
Amortization of net loss	7	7	22	21
Amortization of prior service credit	(3)	(4)	(9)	(13)
Net periodic benefit (income)/cost	(9)	(20)	(33)	(63)
Pension Plan [Member] \| Other Foreign Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	6	6	17	18
Interest cost	4	3	12	9
Expected return on plan assets	(10)	(9)	(29)	(28)
Settlement	0	2	0	2
Amortization of net loss	0	1	2	4
Amortization of prior service credit	1	1	1	1
Net periodic benefit (income)/cost	1	4	3	6
PRW [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0	0	0
Interest cost	0	0	1	1
Expected return on plan assets	0	0	0	0
Settlement	0	0	0	0
Amortization of net loss	0	1	1	2
Amortization of prior service credit	0	(1)	(2)	(3)
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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Finance lease cost:
Amortization of right-of-use assets	$ 0	$ 0	$ 1	$ 1
Interest on lease liabilities	1	1	2	2
Operating lease cost	35	43	130	134
Short-term lease cost	0	0	0	1
Variable lease cost	13	13	47	39
Sublease income	(3)	(6)	(12)	(16)
Total lease cost, net	$ 46	$ 51	$ 168	$ 161

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Lessee, Lease, Description [Line Items]
Lease Cost	$ 46	$ 51	$ 168	$ 161
Restructuring Charges [Member]
Lessee, Lease, Description [Line Items]
Lease Cost	$ 2		$ 33

Supplementary Information for Certain Balance Sheet Accounts - Prepaid and Other Current Assets (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepayments and accrued income	$ 112	$ 137
Short-term investments	0	200
Deferred contract costs	63	74
Derivatives and investments	20	35
Deferred compensation plan assets	13	19
Corporate income and other taxes	198	82
Acquired renewal commissions receivable	9	11
Other current assets	61	54
Total prepaid and other current assets	$ 476	$ 612

Supplementary Information for Certain Balance Sheet Accounts - Deferred Revenue and Accrued Expenses (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts payable, accrued liabilities and deferred income	$ 876	$ 898
Accrued discretionary and incentive compensation	524	811
Accrued vacation	173	145
Other employee-related liabilities	67	72
Total deferred revenue and accrued expenses	$ 1,640	$ 1,926

Supplementary Information for Certain Balance Sheet Accounts - Other Current Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Dividends payable	$ 102	$ 112
Income and other taxes payable	153	278
Interest payable	30	55
Deferred compensation plan liabilities	12	49
Contingent and deferred consideration on acquisitions	13	24
Accrued retirement benefits	58	65
Derivatives	25	0
Payroll and other benefits-related liabilities	220	230
Third-party commissions	128	101
Other current liabilities	110	101
Total other current liabilities	$ 851	$ 1,015

Supplementary Information for Certain Balance Sheet Accounts - Provision For Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Claims, lawsuits and other proceedings	$ 306	$ 311
Other provisions	59	64
Total provision for liabilities	$ 365	$ 375

Supplementary Information for Certain Balance Sheet Accounts - Other Non-Current Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Deferred compensation plan liability	$ 75	$ 109
Contingent and deferred consideration on acquisitions	41	27
Liabilities for uncertain tax positions	32	43
Finance leases	13	15
Other non-current liabilities	42	59
Total other non-current liabilities	$ 203	$ 253

Other Income, Net (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2022

Sep. 30, 2021

Sep. 30, 2022

Sep. 30, 2021

Gain/(loss) on disposal of operations

^[1]

$ 21

$ 23

$ (11)

$ 380

Net periodic pension and postretirement benefit credits

204

227

Interest in earnings of associates and other investments

Foreign exchange (loss)/gain

(1)

Other

Other income, net

$ 85

$ 105

$ 205

$ 617

[1]	For the nine months ended September 30, 2022, includes a $24 million non-cash revaluation gain related to an acquisition completed in stages.

Other Income, Net (Parenthetical ) (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2022

Sep. 30, 2021

Sep. 30, 2022

Sep. 30, 2021

Gain/(loss) on disposal of operations

^[1]

$ 21

$ 23

$ (11)

$ 380

Non-cash Revaluation Gain Related to Acquisition [Member]

Gain/(loss) on disposal of operations

$ 24

[1]	For the nine months ended September 30, 2022, includes a $24 million non-cash revaluation gain related to an acquisition completed in stages.

Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2022

Sep. 30, 2021

Sep. 30, 2022

Sep. 30, 2021

AOCI Attributable to Parent, Net of Tax [Roll Forward]

Stockholders' equity attributable to parent, beginning balance

$ 13,260

Stockholders' equity attributable to parent, ending balance

$ 9,838

9,838

Foreign currency translation [Member]

AOCI Attributable to Parent, Net of Tax [Roll Forward]

Stockholders' equity attributable to parent, beginning balance

^[1]

(794)

$ (376)

(489)

$ (400)

Other comprehensive (loss)/income before reclassifications

^[1]

(240)

(81)

(545)

(101)

Amounts reclassified from accumulated other comprehensive income/(loss) (net of income tax)

^[1]

^[2]

Net current-period other comprehensive (loss)/income

^[1]

(240)

(81)

(545)

(57)

Stockholders' equity attributable to parent, ending balance

(1,034)

(457)

^[1]

(1,034)

(457)

^[1]

Derivative instruments [Member]

AOCI Attributable to Parent, Net of Tax [Roll Forward]

Stockholders' equity attributable to parent, beginning balance

^[1]

Other comprehensive (loss)/income before reclassifications

^[1]

(5)

(1)

(8)

Amounts reclassified from accumulated other comprehensive income/(loss) (net of income tax)

^[1]

(1)

^[2]

(5)

^[2]

Net current-period other comprehensive (loss)/income

^[1]

(4)

(2)

(9)

Stockholders' equity attributable to parent, ending balance

^[1]

Defined pension and post-retirement benefit costs [Member]

AOCI Attributable to Parent, Net of Tax [Roll Forward]

Stockholders' equity attributable to parent, beginning balance

^[3]

(1,698)

(1,915)

(1,708)

(1,968)

Other comprehensive (loss)/income before reclassifications

^[3]

Amounts reclassified from accumulated other comprehensive income/(loss) (net of income tax)

^[3]

^[2]

Net current-period other comprehensive (loss)/income

^[3]

Stockholders' equity attributable to parent, ending balance

^[3]

(1,688)

(1,913)

(1,688)

(1,913)

Total [Member]

AOCI Attributable to Parent, Net of Tax [Roll Forward]

Stockholders' equity attributable to parent, beginning balance

(2,486)

(2,278)

(2,186)

(2,359)

Other comprehensive (loss)/income before reclassifications

(240)

(80)

(550)

(92)

Amounts reclassified from accumulated other comprehensive income/(loss) (net of income tax)

(1)

^[2]

Net current-period other comprehensive (loss)/income

(234)

(81)

(534)

(0)

Stockholders' equity attributable to parent, ending balance

$ (2,720)

$ (2,359)

$ (2,720)

$ (2,359)

[1]	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 9 — Derivative Financial Instruments for additional details regarding the reclassification adjustments for the derivative settlements.
[2]	Includes reclassifications in 2021 of $44 million and $31 million of foreign currency translation and defined pension and post-retirement benefit costs, respectively, attributable to the gain on disposal of our Miller business (see Note 3 — Acquisitions and Divestitures). The net gain on disposal is included in Other income, net in the accompanying condensed consolidated statements of comprehensive income.
[3]	Reclassification adjustments from accumulated other comprehensive loss are included in the computation of net periodic pension cost (see Note 12 — Retirement Benefits). These components are included in Other income, net in the accompanying condensed consolidated statements of comprehensive income.

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-URI https://asc.fasb.org/extlink&oid=122038336&loc=d3e74512-122707

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571