Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | Aon plc |
Entity Central Index Key | 0000315293 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | Pay vs. Performance As described in the Compensation Discussion & Analysis (“CD&A”), Aon has a strong pay for performance philosophy that shapes how we deliver compensation to all colleagues, including the senior executives of the firm. This is evidenced by (1) the weighting of fixed vs variable compensation awarded annually, (2) the proportion of variable compensation delivered in the form of company equity instruments, and (3) the proportion of equity awards that are leveraged on performance conditions above and beyond share price. 2022 Compensation Details Variable compensation awarded to the CEO and other NEOs (on average) represented 92% and 81%, respectively, of the total compensation awarded for 2022. To maximize shareholder alignment, 100% of their variable compensation was delivered in the form of equity, including the annual incentive for the year. Finally, 100% and 89%, respectively, of the equity compensation for the CEO and other NEOs (on average) is comprised of performance share units (“PSU”) under our Leadership Performance Program (“LPP”) that can result in a 0x – 2x payout based on performance against Adjusted EPS goals which we believe closely aligns PVP Disclosure In accordance with rules adopted by the Securities and Exchange Commission pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we provide the following disclosure regarding executive compensation covering calculations and narrative of Compensation Actually Paid (“CAP”) under new SEC Pay Versus Performance (“PVP”) disclosure requirements for our principal executive officer (“PEO”) and Non-PEO Year Summary PEO 1 ($) CAP to PEO 1,2 ($) Average Non-PEO 1 ($) Average Non-PEO 1,2 ($) Value of 3 Net Adjusted 4 TSR Peer 2022 19,668,985 18,597,824 6,643,617 6,468,548 148 119 2,589 12 % 2021 19,868,384 100,549,260 7,644,425 25,579,739 147 133 1,308 22 % 2020 20,294,496 39,382,835 6,898,103 11,457,219 102 98 2,018 7 % 1. The principal executive officer (PEO) for each year reflected in the table is Gregory C. Case, the Company’s Chief Executive Officer. The non-PEO NEOs are Christa Davies, Eric Andersen, Lisa Stevens (for years 2021 and 2022 only), Darren Zeidel (for years 2021 and 2022 only), John Bruno (for 2020 only) and Anthony Goland (for 2020 only). 2. The amounts shown for CAP have been calculated in accordance with Item 402(v) of Regulation S-K PEO Year Exclusion Inclusion CAP to PEO 2022 19,668,985 (17,497,455 ) 16,426,294 18,597,824 2021 19,868,384 (15,262,436 ) 95,943,312 100,549,260 2020 20,294,496 (15,880,566 ) 34,968,905 39,382,835 Average Non-PEO NEOs Year Average for Non-PEO Average Non-PEO Average Non-PEO Average Non-PEO Average 2022 6,643,617 — (4,729,173 ) 4,554,104 6,468,548 2021 7,644,425 — (4,583,837 ) 22,519,151 25,579,739 2020 6,898,103 (76,821 ) (4,387,596 ) 9,023,533 11,457,219 The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth PEO Year Year-End for Change in Change in Value of Total - PEO 2022 16,554,822 (52,980 ) (83,279 ) 7,731 16,426,294 2021 39,121,312 38,650,509 18,164,704 6,787 95,943,312 2020 20,945,730 12,672,451 1,339,915 10,809 34,968,905 Average Non-PEO NEOs Year Average Year-End for Non-PEO Average Non-PEO Average Non-PEO Average Non-PEO Total - Non-PEO 2022 4,599,376 (15,750 ) (37,513 ) 7,991 4,554,104 2021 11,411,916 8,245,180 2,859,048 3,007 22,519,151 2020 5,771,045 2,890,055 357,014 5,419 9,023,533 3. The Peer Group TSR set forth in this table utilizes the S&P 500 Financials Index, which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K 4. We determined Adjusted EPS to be the most important financial performance measure used to link Company performance to CAP to our PEO and Non-PEO | ||
Company Selected Measure Name | Adjusted EPS | ||
Named Executive Officers, Footnote [Text Block] | 1. The principal executive officer (PEO) for each year reflected in the table is Gregory C. Case, the Company’s Chief Executive Officer. The non-PEO NEOs are Christa Davies, Eric Andersen, Lisa Stevens (for years 2021 and 2022 only), Darren Zeidel (for years 2021 and 2022 only), John Bruno (for 2020 only) and Anthony Goland (for 2020 only). | ||
Peer Group Issuers, Footnote [Text Block] | The Peer Group TSR set forth in this table utilizes the S&P 500 Financials Index, which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K | ||
PEO Total Compensation Amount | $ 19,668,985 | $ 19,868,384 | $ 20,294,496 |
PEO Actually Paid Compensation Amount | $ 18,597,824 | 100,549,260 | 39,382,835 |
Adjustment To PEO Compensation, Footnote [Text Block] | PEO Year Exclusion Inclusion CAP to PEO 2022 19,668,985 (17,497,455 ) 16,426,294 18,597,824 2021 19,868,384 (15,262,436 ) 95,943,312 100,549,260 2020 20,294,496 (15,880,566 ) 34,968,905 39,382,835 Average Non-PEO NEOs Year Average for Non-PEO Average Non-PEO Average Non-PEO Average Non-PEO Average 2022 6,643,617 — (4,729,173 ) 4,554,104 6,468,548 2021 7,644,425 — (4,583,837 ) 22,519,151 25,579,739 2020 6,898,103 (76,821 ) (4,387,596 ) 9,023,533 11,457,219 The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth PEO Year Year-End for Change in Change in Value of Total - PEO 2022 16,554,822 (52,980 ) (83,279 ) 7,731 16,426,294 2021 39,121,312 38,650,509 18,164,704 6,787 95,943,312 2020 20,945,730 12,672,451 1,339,915 10,809 34,968,905 Average Non-PEO NEOs Year Average Year-End for Non-PEO Average Non-PEO Average Non-PEO Average Non-PEO Total - Non-PEO 2022 4,599,376 (15,750 ) (37,513 ) 7,991 4,554,104 2021 11,411,916 8,245,180 2,859,048 3,007 22,519,151 2020 5,771,045 2,890,055 357,014 5,419 9,023,533 | ||
Non-PEO NEO Average Total Compensation Amount | $ 6,643,617 | 7,644,425 | 6,898,103 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 6,468,548 | 25,579,739 | 11,457,219 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | PEO Year Exclusion Inclusion CAP to PEO 2022 19,668,985 (17,497,455 ) 16,426,294 18,597,824 2021 19,868,384 (15,262,436 ) 95,943,312 100,549,260 2020 20,294,496 (15,880,566 ) 34,968,905 39,382,835 Average Non-PEO NEOs Year Average for Non-PEO Average Non-PEO Average Non-PEO Average Non-PEO Average 2022 6,643,617 — (4,729,173 ) 4,554,104 6,468,548 2021 7,644,425 — (4,583,837 ) 22,519,151 25,579,739 2020 6,898,103 (76,821 ) (4,387,596 ) 9,023,533 11,457,219 The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth PEO Year Year-End for Change in Change in Value of Total - PEO 2022 16,554,822 (52,980 ) (83,279 ) 7,731 16,426,294 2021 39,121,312 38,650,509 18,164,704 6,787 95,943,312 2020 20,945,730 12,672,451 1,339,915 10,809 34,968,905 Average Non-PEO NEOs Year Average Year-End for Non-PEO Average Non-PEO Average Non-PEO Average Non-PEO Total - Non-PEO 2022 4,599,376 (15,750 ) (37,513 ) 7,991 4,554,104 2021 11,411,916 8,245,180 2,859,048 3,007 22,519,151 2020 5,771,045 2,890,055 357,014 5,419 9,023,533 | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | |||
Compensation Actually Paid vs. Net Income [Text Block] | Our Net Income grew 28% over the 2019-2022 period reflective of strong growth and performance on our key financial metrics, though Net Income decreased in 2021, reflecting strong revenue growth offset by expenses that were not representative of our normal business operations, followed by an increase in 2022 to a level reflecting overall strong growth from 2020. Net Income performance does not have a strong relationship with the reported CAP to our PEO and Non-PEO NEOs given the lower relative weighting of this measurement of performance as compared to the others previously discussed. | ||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | |||
Total Shareholder Return Vs Peer Group [Text Block] | |||
Tabular List [Table Text Block] | Tabular List of Most Important Financial Performance Measures The following table presents the financial performance measures that the Company considers to have been the most important in linking CAP to our PEO and Non-PEO Adjusted Earnings Per Share Growth Adjusted Operating Income Growth | ||
Total Shareholder Return Amount | $ 148 | 147 | 102 |
Peer Group Total Shareholder Return Amount | 119 | 133 | 98 |
Net Income (Loss) | $ 2,589,000,000 | $ 1,308,000,000 | $ 2,018,000,000 |
Company Selected Measure Amount | 0.12 | 0.22 | 0.07 |
PEO Name | Gregory C. Case | ||
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted Earnings Per Share Growth | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted Operating Income Growth | ||
PEO [Member] | Exclusion of Stock Awards and Option Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (17,497,455) | $ (15,262,436) | $ (15,880,566) |
PEO [Member] | Inclusion of Equity Values [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 16,426,294 | 95,943,312 | 34,968,905 |
PEO [Member] | YearEnd Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 16,554,822 | 39,121,312 | 20,945,730 |
PEO [Member] | Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (52,980) | 38,650,509 | 12,672,451 |
PEO [Member] | Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (83,279) | 18,164,704 | 1,339,915 |
PEO [Member] | Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 7,731 | 6,787 | 10,809 |
PEO [Member] | Total Inclusion of Equity Values [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 16,426,294 | 95,943,312 | 34,968,905 |
Non-PEO NEO [Member] | Exclusion of Change in Pension Value [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | (76,821) |
Non-PEO NEO [Member] | Exclusion of Stock Awards and Option Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (4,729,173) | (4,583,837) | (4,387,596) |
Non-PEO NEO [Member] | Inclusion of Equity Values [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 4,554,104 | 22,519,151 | 9,023,533 |
Non-PEO NEO [Member] | YearEnd Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 4,599,376 | 11,411,916 | 5,771,045 |
Non-PEO NEO [Member] | Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (15,750) | 8,245,180 | 2,890,055 |
Non-PEO NEO [Member] | Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (37,513) | 2,859,048 | 357,014 |
Non-PEO NEO [Member] | Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 7,991 | 3,007 | 5,419 |
Non-PEO NEO [Member] | Total Inclusion of Equity Values [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 4,554,104 | $ 22,519,151 | $ 9,023,533 |