0000950170-23-004303 | 10-K | XBRL Viewer

Note 4 — Revenue

Disaggregation of Revenue

The Company reports revenue by segment in Note 5 — Segment Information. The following table presents revenue by service offering and segment, as well as a reconciliation to total revenue for the years ended December 31, 2022, 2021 and 2020. Along with reimbursable expenses and other, total revenue by service offering represents our revenue from customer contracts. The prior years’ segment information has been retrospectively adjusted to conform to the current year presentation.


Year Ended December 31,	Broking		Consulting		Outsourced Administration		Other		Total revenue by service offering		Reimbursable expenses and other (i)			Total revenue from customer contracts			Interest and other income (ii)		Total revenue
HWC
2022	$	1,415	$	2,522	$	979	$	332	$	5,248	$	64		$	5,312		$	39	$	5,351
2021		1,295		2,538		1,046		352		5,231		60			5,291			37		5,328
2020		1,141		2,413		1,028		295		4,877		64			4,941			18		4,959
R&B
2022		2,745		370		75		194		3,384		11			3,395			76		3,471
2021		2,822		384		88		175		3,469		7			3,476			95		3,571
2020		2,707		336		81		154		3,278		7			3,285			38		3,323
Divested Businesses
2022		—		—		—		—		—		—			—			—		—
2021		65		6		—		—		71		—			71			35		106
2020		290		2		—		31		323		—			323			1		324
Corporate (i)
2022		7		10		—		—		17		2			19			25		44
2021		—		8		—		4		12		(24	)		(12	)		5		(7	)
2020		1		5		—		3		9		(4	)		5			4		9
Total
2022	$	4,167	$	2,902	$	1,054	$	526	$	8,649	$	77		$	8,726		$	140	$	8,866
2021	$	4,182	$	2,936	$	1,134	$	531	$	8,783	$	43		$	8,826		$	172	$	8,998
2020	$	4,139	$	2,756	$	1,109	$	483	$	8,487	$	67		$	8,554		$	61	$	8,615

(i)

Reimbursable expenses and other, as well as Corporate revenue, are excluded from segment revenue, but included in total revenue on the consolidated statements of comprehensive income. Amounts included in Corporate revenue may include eliminations, adjustments to reserves 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 and R&B, these amounts totaled $19 million and $52 million, respectively, for the year ended December 31, 2022. For the year ended December 31, 2021, for HWC and R&B, these amounts totaled $17 million and $82 million, respectively. Interest income comprised $55 million, $12 million and $18 million for the years ended December 31, 2022, 2021 and 2020, respectively. In 2022, the interest income earned by HWC, R&B and Corporate was $8 million, $25 million and $22 million, respectively.

The following table presents revenue by the geography where our work was performed for the years ended December 31, 2022, 2021 and 2020. The reconciliation to total revenue on our consolidated statements of comprehensive income and to segment revenue is shown in the table above. The prior years’ geographic information has been retrospectively adjusted to conform to the current year presentation.


Year Ended December 31,	North America		Europe		International		Total revenue by geography
HWC
2022	$	3,569	$	1,266	$	413	$	5,248
2021		3,456		1,376		399		5,231
2020		3,287		1,219		371		4,877
R&B
2022		1,328		1,527		529		3,384
2021		1,295		1,623		551		3,469
2020		1,237		1,549		492		3,278
Divested Businesses
2022		—		—		—		—
2021		17		53		1		71
2020		19		298		6		323
Corporate
2022		7		9		1		17
2021		8		3		1		12
2020		7		2		—		9
Total
2022	$	4,904	$	2,802	$	943	$	8,649
2021	$	4,776	$	3,055	$	952	$	8,783
2020	$	4,550	$	3,068	$	869	$	8,487

Contract Balances

The Company reports accounts receivable, net on the 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 December 31, 2022 and 2021:


	December 31, 2022		December 31, 2021
Billed receivables, net of allowance for doubtful accounts of $46 million and $45 million	$	1,464	$	1,504
Unbilled receivables		457		431
Current contract assets		466		435
Accounts receivable, net	$	2,387	$	2,370
Non-current accounts receivable, net	$	9	$	23
Non-current contract assets	$	745	$	532
Deferred revenue	$	646	$	576

The Company receives payments from customers based on billing schedules or terms as written in our contracts. Those balances denoted as contract assets relate to situations where we have completed some or all performance under the contract, however our right to consideration is conditional. Contract assets result most materially in our Medicare intermediary businesses. The significant increases in both current and non-current contract assets relate to our direct-to-consumer Medicare broking business. Billed and unbilled receivables are recorded when the right to consideration becomes unconditional. Deferred revenue relates to payments received in advance of performance under the contract and is recognized as revenue as (or when) we perform under the contract.

Accounts receivable are stated at estimated net realizable values. The following table presents the changes in our allowance for doubtful accounts for the years ended December 31, 2022, 2021 and 2020.


	December 31, 2022			December 31, 2021			December 31, 2020
Balance at beginning of year	$	45		$	40		$	36
Additions charged to costs and expenses		14			16			28
Deductions/other movements		(20	)		(18	)		(27	)
Foreign exchange		7			7			3
Balance at end of year	$	46		$	45		$	40

The changes in our allowance for doubtful accounts presented above do not include receivables that were impaired as a result of the divestment of our Russian businesses in March 2022. See Note 3 — Acquisitions and Divestitures.

During the year ended December 31, 2022, revenue of approximately $430 million was recognized that was reflected as deferred revenue at December 31, 2021.

During the year ended December 31, 2022, the Company recognized revenue of approximately $25 million related to performance obligations satisfied in a prior period.

Performance Obligations

The Company has contracts for which performance obligations have not been satisfied as of December 31, 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, 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’).


	2023		2024		2025 onward		Total
Revenue expected to be recognized on contracts as of December 31, 2022	$	761	$	489	$	566	$	1,816

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 December 31, 2022 have been excluded from the table above.

Costs to obtain or fulfill a contract

The Company incurs costs to obtain or fulfill contracts which it would not incur if a contract with a customer was not executed.

The following table shows the categories of costs that are capitalized and deferred over the expected life of a contract.


	Costs to fulfill
	December 31, 2022			December 31, 2021			December 31, 2020
Balance at beginning of the year	$	189		$	191		$	162
New capitalized costs		421			454			455
Amortization		(407	)		(451	)		(428	)
Disposals		—			(4	)		—
Impairments		—			(1	)		(1	)
Foreign currency translation		(6	)		—			3
Balance at end of the year	$	197		$	189		$	191

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.

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Segment Information

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment Information

Note 5 — Segment Information

WTW has two reportable operating segments or business areas:

•

Health, Wealth & Career (‘HWC’); and

•

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.

Under the segment structure and for internal and segment reporting, WTW segment revenue includes commissions and fees, interest and other income. U.S. GAAP revenue also includes amounts that were directly incurred on behalf of our clients and reimbursed by them (reimbursable expenses), which are removed from segment revenue. Segment operating income excludes certain costs, including (i) amortization of intangibles; (ii) restructuring costs; (iii) certain transaction and transformation expenses; (iv) certain litigation provisions; and (v) to the extent that the actual expense based upon which allocations are made differs from the forecast/budget amount, a reconciling item will be created between internally-allocated expenses and the actual expenses that we report for U.S. GAAP purposes.

The following table presents segment revenue and segment operating income for our reportable segments for the years ended December 31, 2022, 2021 and 2020. The prior years’ information has been retrospectively adjusted to conform to the current year presentation.


	Segment revenue						Segment operating income
	Years ended December 31						Years ended December 31
	2022		2021		2020		2022		2021		2020
HWC	$	5,287	$	5,268	$	4,895	$	1,382	$	1,346	$	1,236
R&B		3,460		3,564		3,316		734		835		714
Total	$	8,747	$	8,832	$	8,211	$	2,116	$	2,181	$	1,950

The following table presents reconciliations of the information reported by segment to the Company’s consolidated amounts reported for the years ended December 31, 2022, 2021 and 2020.


	Years ended December 31,
	2022			2021			2020
Revenue:
Total segment revenue	$	8,747		$	8,832		$	8,211
Divested businesses (i)		—			106			324
Reimbursable expenses and other		119			60			80
Revenue	$	8,866		$	8,998		$	8,615

Total segment operating income	$	2,116		$	2,181		$	1,950
Divested businesses (i)		—			(24	)		(13	)
Impairment (ii)		(81	)		—			—
Amortization		(312	)		(369	)		(461	)
Restructuring costs (iii)		(99	)		(26	)		(24	)
Transaction and transformation, net (iv)		(181	)		806			(110	)
Provision for significant litigation (v)		—			—			(65	)
Unallocated, net (vi)		(265	)		(366	)		(418	)
Income from operations		1,178			2,202			859
Interest expense		(208	)		(211	)		(244	)
Other income, net		288			701			396
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	$	1,258		$	2,692		$	1,011

(i)

Represents the revenue and income from operations of certain Investment, Risk and Reinsurance businesses which were divested in 2021 and 2020 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)

See Note 6 — Restructuring Costs for the composition of costs for 2022 and 2021. In 2020, restructuring costs related to minor restructuring activities carried out by various business lines throughout the Company.

(iv)

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). For the year ended December 31, 2021, includes the $1 billion income receipt related to the termination of, and fees related to, the then-proposed Aon combination; includes transaction costs related to the then-proposed Aon combination in 2020.

(v)

Represents the recognition of settlement expense attributable to the Company's Merger-related securities litigation during the year ended December 31, 2020.

(vi)

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.

None of the Company’s customers individually represented more than 10% of its consolidated revenue for the years ended December 31, 2022, 2021 and 2020.

Below are our revenue and tangible long-lived assets for Ireland, our country of domicile, countries with significant concentrations, and all other foreign countries as of and for the years ended as indicated:


	Revenue						Long-Lived Assets (i)
	Years ended December 31,						December 31,		December 31,
	2022		2021		2020		2022		2021
Ireland	$	130	$	197	$	157	$	11	$	3

United States		4,760		4,621		4,359		465		562
United Kingdom		1,563		1,632		1,604		496		605
Rest of World		2,413		2,548		2,495		332		401
Total Foreign Countries		8,736		8,801		8,458		1,293		1,568
	$	8,866	$	8,998	$	8,615	$	1,304	$	1,571

(i)

Tangible long-lived assets consist of fixed assets and ROU assets.

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.

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Restructuring and Related Activities [Abstract]

Restructuring Costs

12 Months Ended

Dec. 31, 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 ROU 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 and are included as restructuring costs in the consolidated statements of comprehensive income. Other costs incurred under the Transformation program are included in transaction and transformation, net and were $136 million for the year ended December 31, 2022; there were no such costs incurred for the year

ended December 31, 2021. An analysis of total restructuring costs incurred under the Transformation program by category and by segment and corporate functions, from commencement to December 31, 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		—		—		79		79
Technology modernization		—		3		16		19
Process optimization		1		—		—		1
Other		—		—		—		—
Total
Real estate rationalization		—		—		98		98
Technology modernization		—		8		16		24
Process optimization		1		—		—		1
Other		—		—		2		2
Total	$	1	$	8	$	116	$	125

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		27			—		1			—			28
Cash payments		(21	)		—		(1	)		(1	)		(23	)
Balance at December 31, 2022	$	6		$	—	$	—		$	—		$	6

Income Taxes

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

Note 7 — Income Taxes

Provision for income taxes

An analysis of income from continuing operations before income taxes by taxing jurisdiction is shown below:


	Years ended December 31,
	2022			2021		2020
Ireland	$	(160	)	$	673	$	(5	)
U.S.		394			516		(97	)
U.K.		142			552		184
Rest of World		882			951		929
Total	$	1,258		$	2,692	$	1,011

The components of the provision for income taxes from continuing operations include:


	Years ended December 31,
	2022			2021			2020
Current tax expense:
U.S. federal taxes	$	(103	)	$	(79	)	$	(3	)
U.S. state and local taxes		(39	)		(25	)		3
U.K. corporation tax		(13	)		(33	)		(16	)
Other jurisdictions		(93	)		(303	)		(134	)
Total current tax expense		(248	)		(440	)		(150	)
Deferred tax (expense)/benefit:
U.S. federal taxes		52			(41	)		(79	)
U.S. state and local taxes		(5	)		3			—
U.K. corporation tax		(7	)		(65	)		(48	)
Other jurisdictions		14			7			28
Total deferred tax (expense)/benefit		54			(96	)		(99	)
Total provision for income taxes	$	(194	)	$	(536	)	$	(249	)

Effective tax rate reconciliation

The reported provision for income taxes differs from the amounts that would have resulted had the reported income from continuing operations before income taxes been taxed at the U.S. federal statutory rate. The principal reasons for the differences between the amounts provided and those that would have resulted from the application of the U.S. federal statutory tax rate are as follows:


	Years ended December 31,
	2022			2021			2020
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	$	1,258		$	2,692		$	1,011
U.S. federal statutory income tax rate		21	%		21	%		21	%
Income tax expense at U.S. federal tax rate		(264	)		(565	)		(212	)
Adjustments to derive effective tax rate:
Non-deductible expenses and dividends		(25	)		(21	)		(19	)
Net adjustments on acquisition costs		(4	)		13			(15	)
Impact of change in rate on deferred tax balances		(1	)		(36	)		(7	)
Effect of foreign exchange and other differences		28			—			(4	)
Changes in valuation allowances		1			2			(8	)
Net tax effect on intra-group items		84			84			90
Net tax effect on disposal of operations		1			62			16
Tax differentials of non-U.S. jurisdictions		20			(24	)		(2	)
Impact of U.S. state and local taxes		(42	)		(23	)		4
Global Intangible Low-Taxed Income (GILTI)		(10	)		(4	)		(3	)
Base Erosion Anti-Abuse Tax (BEAT)		24			(22	)		(83	)
Tax on unremitted earnings		(14	)		—			—
Other items, net		8			(2	)		(6	)
Provision for income taxes	$	(194	)	$	(536	)	$	(249	)

The current year effective tax rate includes a $34 million tax benefit associated with amending the Company’s U.S. federal income tax returns for tax years 2019 and 2020, primarily related to a reduction in Base Erosion and Anti Abuse Tax (‘BEAT’), and also includes a $22 million income tax benefit associated with foreign exchange remeasurement on income tax account balances. The effective tax rate for the year ended December 31, 2021 includes a $250 million estimated tax expense related to the income receipt of the termination payment as well as a $40 million tax expense related to the remeasurement of deferred tax assets and liabilities associated with an increase in the U.K. tax rate from 19% to 25%. Included in the BEAT expense for 2020 is a $29 million true-up related to the 2019 tax year as a result of certain elections of the CARES Act.

Willis Towers Watson plc is a non-trading holding company tax resident in Ireland where it is taxed at the statutory rate of 25%. The provisions for income tax on operations have been reconciled above to the U.S. federal statutory tax rate of 21% due to significant operations in the U.S.

Deferred income taxes

Deferred income tax assets and liabilities reflect the effect of temporary differences between the assets and liabilities recognized for financial reporting purposes and the amounts recognized for income tax purposes. We recognize deferred tax assets if it is more likely than not that a benefit will be realized.

Deferred income tax assets and liabilities included in the consolidated balance sheets at December 31, 2022 and 2021 are comprised of the following:


	December 31,
	2022			2021
Deferred tax assets:
Accrued expenses not currently deductible	$	69		$	72
Interest carryforwards		174			91
Net operating losses		44			71
Capital loss carryforwards		1			1
Accrued retirement benefits		85			189
Operating lease liabilities		125			153
Deferred compensation		97			92
Stock options		18			22
Financial derivative transactions		4			1
Gross deferred tax assets		617			692
Less: valuation allowance		(28	)		(42	)
Net deferred tax assets	$	589		$	650
Deferred tax liabilities:
Cost of intangible assets, net of related amortization	$	679		$	735
Operating lease right-of-use assets		106			142
Cost of tangible assets, net of related depreciation		44			95
Prepaid retirement benefits		142			228
Accrued revenue not currently taxable		262			194
Unremitted earnings		36			22
Deferred tax liabilities	$	1,269		$	1,416
Net deferred tax liabilities	$	680		$	766

The net deferred income tax assets are included in Other non-current assets and the net deferred tax liabilities are included in Deferred tax liabilities in our consolidated balance sheets.


	December 31,
	2022		2021
Balance sheet classifications:
Other non-current assets	$	68	$	79
Deferred tax liabilities		748		845
Net deferred tax liability	$	680	$	766

At December 31, 2022, we had U.S. federal and non-U.S. net operating loss carryforwards amounting to $113 million of which $61 million can be indefinitely carried forward under local statutes. The remaining $52 million of net operating loss carryforwards will expire, if unused, in varying amounts from 2023 through 2042. In addition, we had U.S. state net operating loss carryforwards of $432 million, of which $31 million can be indefinitely carried forward, while the remaining $401 million will expire in varying amounts from 2023 to 2042.

Management believes, based on the evaluation of positive and negative evidence, including the future reversal of existing taxable temporary differences, it is more likely than not that the Company will realize the benefits of net deferred tax assets of $589 million, net of the valuation allowance. During 2022, the Company decreased its valuation allowance by $14 million, primarily related to certain state net operating losses. The Company determined the losses and the related valuation allowance would never be realized. During 2021, the Company decreased its valuation allowance by $42 million, primarily related to the disposal of underlying positions which were part of the divestment of Miller. In addition, part of the decrease reflected the utilization of the U.K. capital loss carryforward, the benefit of which was recorded in discontinued operations. During 2020, the Company increased its valuation allowance by $8 million, primarily related to non-U.S. deferred tax assets.

At December 31, 2022 and 2021, the Company had valuation allowances of $28 million and $42 million, respectively, to reduce its deferred tax assets to their estimated realizable values. The valuation allowance at December 31, 2022 primarily relates to deferred taxes on U.S. state and non-U.S. net operating losses of $10 million and $14 million, respectively.

An analysis of our valuation allowance is shown below.


	Years ended December 31,
	2022			2021			2020
Balance at beginning of year	$	42		$	84		$	76
Additions charged to costs and expenses		8			3			17
Deductions		(22	)		(45	)		(9	)
Balance at end of year	$	28		$	42		$	84

The movement in the current-year valuation allowance differs from the 2022 rate reconciliation primarily due to the write-down of state net operating losses and the related valuation allowance. In addition, current-year and prior-year valuation allowances differ from the 2022 and 2021 rate reconciliations, respectively, as part of the tax benefits were allocated to discontinued operations.

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. At December 31, 2022 the Company has $16.5 billion of undistributed earnings in subsidiaries where no deferred tax has been recognized. Of this amount $9.3 billion relates to earnings which have been reinvested indefinitely and $7.2 billion relates to earnings identified as being recoverable in an untaxable manner. It is not practicable to calculate the tax cost of repatriating the unremitted earnings which have been reinvested indefinitely. If future events, including material changes in estimates of cash, working capital and long-term investment requirements necessitate that these earnings be distributed, an additional provision for income and foreign withholding taxes, net of credits, may be necessary.

Uncertain tax positions

At December 31, 2022, the amount of unrecognized tax benefits associated with uncertain tax positions, determined in accordance with ASC Subtopic 740-10, excluding interest and penalties, was $47 million. A reconciliation of the beginning and ending balances of the liability for unrecognized tax benefits is as follows:


	2022			2021			2020
Balance at beginning of year	$	43		$	50		$	49
Increases related to acquisitions		—			—			4
Increases related to tax positions in prior years		16			—			1
Decreases related to tax positions in prior years		(2	)		—			—
Decreases related to settlements		(1	)		—			(3	)
Decreases related to lapse in statute of limitations		(6	)		(6	)		(2	)
Cumulative translation adjustment and other adjustments		(3	)		(1	)		1
Balance at end of year	$	47		$	43		$	50

At December 31, 2022, the amount of unrecognized tax benefits associated with uncertain tax positions also includes $6 million which was allocated to tax expense in discontinued operations. The liability for unrecognized tax benefits for each of the years ended December 31, 2022, 2021 and 2020 can be reduced by $3 million of offsetting deferred tax benefits associated with timing differences, foreign tax credits and the federal tax benefit of state income taxes. If these offsetting deferred tax benefits were recognized, there would be a favorable impact on our effective tax rate. There are no material balances that would result in adjustments to other tax accounts.

Interest and penalties related to unrecognized tax benefits are included as a component of income tax expense. At December 31, 2022 and 2021, we had cumulative accrued interest of $5 million. Accrued penalties were immaterial in 2022 and 2021.

Tax expense allocated to continuing operations for both the years ended December 31, 2022 and 2021 includes $1 million of interest expense.

The Company believes that the outcomes which are reasonably possible within the next 12 months may result in a reduction in the liability for unrecognized tax benefits in the range of $3 million to $5 million, excluding interest and penalties.

The Company and its subsidiaries file income tax returns in various tax jurisdictions in which it operates.

During 2022, the Internal Revenue Service (‘IRS’) closed its examination of Willis North America Inc. and subsidiaries’ federal income tax filings for the tax years ended December 31, 2017 and December 31, 2018. There were no significant adjustments to income tax as reported.

We have ongoing state income tax examinations in certain states for tax years ranging from the short period July 1, 2015 to January 4, 2016 through December 31, 2019. The statute of limitations in certain states remains open back to the short tax period ended January 4, 2016.

All U.K. tax returns have been filed timely and are in the normal process of being reviewed by His Majesty’s Revenue & Customs. The Company is not currently subject to any material examinations in other jurisdictions. A summary of the tax years that remain open to tax examination in our major tax jurisdictions are as follows:


	Open Tax Years (fiscal year ending in)
U.S. — federal	2018 and forward
U.S. — various states	2015 and forward
U.K.	2014 and forward
Ireland	2018 and forward
France	2017 and forward
Germany	2008 and forward
Canada - federal	2015 and forward

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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Property, Plant and Equipment [Abstract]

Fixed Assets

12 Months Ended

Dec. 31, 2022

Fixed Assets

Note 8 — Fixed Assets

The following table reflects changes in the net carrying amount of the components of fixed assets for the years ended December 31, 2022 and 2021:


	Furniture, equipment and software			Leasehold improvements			Land and buildings			Total
Cost: at January 1, 2021	$	1,467		$	577		$	90		$	2,134
Additions		176			18			—			194
Disposals (i)		(145	)		(61	)		(2	)		(208	)
Foreign exchange		(21	)		(7	)		—			(28	)
Cost: at December 31, 2021		1,477			527			88			2,092
Additions		174			24			—			198
Acquisitions		1			—			—			1
Disposals (ii)		(129	)		(78	)		—			(207	)
Foreign exchange		(71	)		(21	)		(5	)		(97	)
Cost: at December 31, 2022	$	1,452		$	452		$	83		$	1,987

Depreciation: at January 1, 2021	$	(764	)	$	(295	)	$	(62	)	$	(1,121	)
Depreciation expense		(227	)		(51	)		(3	)		(281	)
Disposals		103			41			2			146
Foreign exchange		11			4			—			15
Depreciation: at December 31, 2021		(877	)		(301	)		(63	)		(1,241	)
Depreciation expense		(211	)		(40	)		(4	)		(255	)
Disposals		113			57			—			170
Foreign exchange		42			12			3			57
Depreciation: at December 31, 2022	$	(933	)	$	(272	)	$	(64	)	$	(1,269	)

Net book value:
At December 31, 2021	$	600		$	226		$	25		$	851

At December 31, 2022	$	519		$	180		$	19		$	718

(i)

Includes $5 million of furniture, equipment and software costs and $4 million of leasehold improvements costs which have been written off as part of technology modernization and real estate rationalization, respectively, under the Transformation program (see Note 6 – Restructuring Costs).

(ii)

Includes $12 million of furniture, equipment and software costs and $18 million of leasehold improvements costs which have been written off as part of technology modernization and real estate rationalization, respectively, under the Transformation program (see Note 6 – Restructuring Costs).

Included within land and buildings are the following assets held under finance leases:


	December 31,
	2022			2021
Finance leases	$	26		$	26
Accumulated depreciation		(22	)		(20	)
	$	4		$	6

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Note 9 — Goodwill and Other Intangible Assets

Goodwill

The components of goodwill are outlined below for the years ended December 31, 2022 and 2021. The prior years’ segment information has been retrospectively adjusted to conform to the current year presentation.


	HWC			R&B			Divested Businesses (i)			Total
Balance at December 31, 2020
Goodwill, gross	$	7,893		$	2,798		$	193		$	10,884
Accumulated impairment losses		(130	)		(362	)		—			(492	)
Goodwill, net - December 31, 2020		7,763			2,436			193			10,392
Goodwill acquired		43			8			—			51
Goodwill disposals		—			(7	)		(193	)		(200	)
Foreign exchange		(32	)		(28	)		—			(60	)
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		—			104			—			104
Goodwill disposals		—			(18	)		—			(18	)
Foreign exchange		(34	)		(62	)		—			(96	)
Balance at December 31, 2022
Goodwill, gross		7,870			2,795			—			10,665
Accumulated impairment losses		(130	)		(362	)		—			(492	)
Goodwill, net - December 31, 2022	$	7,740		$	2,433		$	—		$	10,173

(i)

Represents goodwill associated with certain Investment, Risk and Reinsurance businesses which were divested in 2021.

Other Intangible Assets

The following table reflects changes in the net carrying amounts of the components of finite-lived intangible assets for the years ended December 31, 2022 and 2021:


	Client relationships			Software			Trademark and trade name			Other			Total
Balance at December 31, 2020:
Intangible assets, gross	$	4,012		$	761		$	1,054		$	103		$	5,930
Accumulated amortization		(2,028	)		(659	)		(220	)		(34	)		(2,941	)
Intangible assets, net - December 31, 2020		1,984			102			834			69			2,989
Intangible assets acquired		14			—			—			—			14
Intangible asset disposals		(47	)		—			(8	)		—			(55	)
Amortization		(250	)		(61	)		(43	)		(15	)		(369	)
Foreign exchange		(25	)		—			(1	)		2			(24	)
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		67			4			1			—			72
Intangible asset disposals		(1	)		—			—			(5	)		(6	)
Amortization		(230	)		(31	)		(42	)		(9	)		(312	)
Foreign exchange		(34	)		(1	)		(1	)		—			(36	)
Balance at December 31, 2022:
Intangible assets, gross		3,760			725			1,038			98			5,621
Accumulated amortization		(2,282	)		(712	)		(298	)		(56	)		(3,348	)
Intangible assets, net - December 31, 2022	$	1,478		$	13		$	740		$	42		$	2,273

The weighted-average remaining life of amortizable intangible assets and liabilities at December 31, 2022 was 12.3 years.

The table below reflects the future estimated amortization expense for amortizable intangible assets for the next five years and thereafter:


Years ended December 31,	Amortization
2023	$	263
2024		230
2025		209
2026		201
2027		197
Thereafter		1,173
Total	$	2,273

Derivative Financial Instruments

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

Note 10 — 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 2 — Basis of Presentation, Significant Accounting Policies and Recent Accounting Pronouncements, Note 12 — Fair Value Measurements and Note 18 — 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 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 December 31, 2022 and December 31, 2021 had total notional amounts of $134 million and $155 million, respectively, and had a net fair value liability of $3 million and a net fair value asset of $3 million, respectively.

At December 31, 2022, the Company estimates, based on current exchange rates, there will be $2 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 December 31, 2022, our longest outstanding maturity was 1.7 years.

The effects of the material derivative instruments that are designated as hedging instruments on the consolidated statements of comprehensive income for the years ended December 31, 2022, 2021 and 2020 are below. Amounts pertaining to the ineffective portion of hedging instruments and those excluded from effectiveness testing were immaterial for the years ended December 31, 2022, 2021 and 2020.


	(Loss)/gain recognized in OCL (effective element)
	2022			2021		2020
Foreign exchange contracts	$	(8	)	$	5	$	(13	)


Location of gain/(loss) reclassified from Accumulated OCL into income (effective element)	Gain/(loss) reclassified from Accumulated OCL into income (effective element)
	2022			2021			2020
Revenue	$	2		$	(3	)	$	(5	)
Salaries and benefits		(4	)		6			(3	)
Discontinued operations		—			3			(1	)
	$	(2	)	$	6		$	(9	)

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 December 31, 2022 and December 31, 2021, we had notional amounts of $1.7 billion and $2.9 billion, respectively, and had net fair value assets of $24 million and $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 consolidated statements of comprehensive income for the years ended December 31, 2022, 2021 and 2020 are as follows (see Note 17 — Other Income, Net for the net foreign currency impact on the Company’s consolidated statements of comprehensive income which includes the results of the offset of underlying exposures):


	Location of (loss)/gain	(Loss)/gain recognized in income
Derivatives not designated as hedging instruments:	recognized in income	2022			2021		2020
Foreign exchange contracts	Other income, net	$	(147	)	$	—	$	(3	)

Debt

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Debt

Note 11 — Debt

Current debt consists of the following:


	December 31,
	2022		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:


	December 31,
	2022		2021
Revolving $1.5 billion credit facility	$	—	$	—
4.625% senior notes due 2023		—		249
3.600% senior notes due 2024		649		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
	$	4,471	$	3,974

(i)

Notes issued in Euro (€540 million).

Guarantees

The following table presents a summary of the entities that issued each note or entered into the revolving credit facility and those wholly-owned and consolidated subsidiaries of the Company that guarantee each respective note and the revolving credit facility on a joint and several basis as of December 31, 2022.


Entity	Revolving credit facility 4.625% due 2023 4.400% due 2026 6.125% due 2043	3.600% due 2024 4.650% due 2027 4.500% due 2028 2.950% due 2029 5.050% due 2048 3.875% due 2049
Willis Towers Watson plc	Guarantor	Guarantor
Trinity Acquisition plc	Issuer	Guarantor
Willis North America Inc.	Guarantor	Issuer
Willis Netherlands Holdings B.V.	Guarantor	Guarantor
Willis Investment UK Holdings Limited	Guarantor	Guarantor
TA I Limited	Guarantor	Guarantor
Willis Group Limited	Guarantor	Guarantor
Willis Towers Watson Sub Holdings Unlimited Company	Guarantor	Guarantor
Willis Towers Watson UK Holdings Limited	Guarantor	Guarantor

Revolving Credit Facility

$1.5 billion revolving credit facility

On October 6, 2021, Trinity Acquisition plc entered into a second amended and restated revolving credit facility (the ‘new RCF’) for $1.5 billion that will mature on October 6, 2026. This new RCF replaced the previous $1.25 billion revolving credit facility which was due to expire in March of 2022 (see below for additional information).

Borrowing costs under the $1.5 billion facility differ if the borrowing is a ‘base rate’ borrowing or a ‘Eurocurrency’ borrowing, both as defined by the new RCF, and equal the sum of the relevant benchmark plus a margin based on the Company’s senior unsecured long-term debt rating:

•

For base rate borrowings, the benchmark rate will be the greatest of (a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such day plus 0.50%, and (c) the one-month LIBOR rate plus 1.0%. The margin on the base rate benchmark is 0.00% to 0.75% depending on the Company’s senior unsecured long-term debt rating.

•

For Eurocurrency or Sterling Overnight Interbank Average Rate (‘SONIA’) borrowings, the rate will be the applicable LIBOR rate or SONIA (as applicable based on the currency of the borrower) plus a margin of 1.0% to 1.75% depending on the Company’s guaranteed unsecured long-term debt rating. In anticipation of the cessation of LIBOR, the new RCF provides for a benchmark rate adjustment that will be added to the replacement benchmark rate to reflect the differential between LIBOR and the replacement benchmark (e.g., the Secured Overnight Financing Rate). This adjustment amount will be a function of both the currency and borrowing tenor.

The new RCF also carries a commitment fee, applicable to the unused portion, of 0.09% to 0.25%, which is also based on the Company’s senior unsecured long-term debt rating.

$1.25 billion revolving credit facility

Amounts outstanding under the previous $1.25 billion revolving credit facility bore interest at LIBOR plus a margin of 1.00% to 1.75%, or alternatively, the base rate plus a margin of 0.00% to 0.75%, based upon the Company’s guaranteed senior unsecured long-term debt rating.

Senior Notes

4.650% senior notes due 2027

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.

2.950% senior notes due 2029 and 3.875% senior notes due 2049

On September 10, 2019, the Company, together with its wholly-owned subsidiary, Willis North America Inc., as issuer, completed an offering of $450 million aggregate principal amount of 2.950% senior notes due 2029 (the ‘initial 2029 senior notes’) and $550 million aggregate principal amount of 3.875% senior notes due 2049 (‘2049 senior notes’; collectively, the ‘2019 senior notes offering’). On May 29, 2020, the Company, together with its wholly-owned subsidiary, Willis North America Inc., as issuer, completed an offering of an additional $275 million aggregate principal amount of 2.950% senior notes due 2029 (the ‘additional 2029 senior notes’). The additional 2029 senior notes will be treated as a single class with, and otherwise identical to, the initial 2029 senior notes other than with respect to the date of issuance, the issue price and the amounts paid to holders for each class of note on the first interest payment date. The effective interest rates of the initial 2029 senior notes and 2049 senior notes are 2.971% and 3.898%, respectively, which include the impact of the discount upon issuance. The effective interest rate of the additional 2029 senior notes is 2.697%, which includes the impact of the premium upon issuance. Both 2029 senior notes offerings will mature on September 15, 2029, and the 2049 senior notes will mature on September 15, 2049. Interest on the 2019 senior notes offering has accrued from September 10, 2019 and is paid in cash on March 15 and September 15 of each year. Interest on the additional 2029 senior notes has accrued from March 15, 2020 and is paid in cash on March 15 and September 15 of each year. The net proceeds from the 2019 senior notes offering, after deducting underwriter discounts and commissions and estimated offering expenses, were approximately $988 million and were used to prepay a portion of the amount outstanding under the Company’s one-year term loan commitment (described below) and to repay borrowings under the Company’s $1.25 billion revolving credit facility. The net proceeds from the additional 2029 senior notes offering were used to repay $175 million of the full principal amount and related accrued interest under the term loan facility, which was set to expire in July 2020, as well as repay $105 million of borrowings outstanding under the Company’s $1.25 billion revolving credit facility and related accrued interest.

4.500% senior notes due 2028 and 5.050% senior notes due 2048

On September 10, 2018, the Company, together with its wholly-owned subsidiary, Willis North America Inc. as issuer, completed an offering of $600 million of 4.500% senior notes due 2028 (‘2028 senior notes’) and $400 million of 5.050% senior notes due 2048 (‘2048 senior notes’). The effective interest rates of the 2028 senior notes and 2048 senior notes are 4.504% and 5.073%, respectively, which include the impact of the discount upon issuance. The 2028 senior notes will mature on September 15, 2028 and the 2048 senior notes will mature on September 15, 2048. Interest has accrued on both the 2028 senior notes and 2048 senior notes from September 10, 2018 and is paid in cash on March 15 and September 15 of each year. The net proceeds from this offering, after deducting underwriter discounts and commissions and estimated offering expenses, were $989 million and were used to prepay in full $127 million outstanding under the Company’s term loan due December 2019 and to repay a portion of the amount outstanding under the Company’s RCF.

3.600% senior notes due 2024

On May 16, 2017, Willis North America Inc. issued $650 million of 3.600% senior notes due 2024 (‘2024 senior notes’). The effective interest rate of the 2024 senior notes is 3.614

%, which includes the impact of the discount upon issuance. The 2024 senior notes will mature on May 15, 2024, and interest has accrued on the 2024 senior notes from May 16, 2017 and is paid in cash on May 15 and November 15 of each year. The net proceeds from this offering, after deducting underwriter discounts and commissions and estimated offering expenses, were $644 million and were used to pay down amounts outstanding under the RCF and for general corporate purposes.

3.500% senior notes due 2021 (repaid in August 2021) and 4.400% senior notes due 2026

On March 22, 2016, Trinity Acquisition plc issued $450 million of 3.500% senior notes due 2021 (‘2021 senior notes’) and $550 million of 4.400% senior notes due 2026 (‘2026 senior notes’). The effective interest rate of the 2021 senior notes was 3.707% and the effective interest rate on the 2026 senior notes is 4.572%, which includes the impact of the discount upon issuance. The 2021 senior notes were to mature on September 15, 2021; the 2026 senior notes will mature on March 15, 2026. Interest on the 2026 senior notes has accrued from March 22, 2016 and will be paid in cash on March 15 and September 15 of each year. The net proceeds from these offerings, after deducting underwriter discounts and commissions and estimated offering expenses, were $988 million. We used the net proceeds of these offerings to: (i) repay $300 million principal under the prior $800 million revolving credit facility and related accrued interest, which was drawn to repay our previously-issued 4.125% senior notes on March 15, 2016; (ii) repay $400 million principal on another portion of the previous 1-year term loan facility and related accrued interest; and (iii) pay down a portion of the remaining principal amount outstanding under the previous revolving credit facility and related accrued interest. In August 2021, the Company called the 2021 senior notes due to mature in September 2021 and repaid the principal and interest at that time using cash on-hand.

4.625% senior notes due 2023 and 6.125% senior notes due 2043

On August 15, 2013, Trinity Acquisition plc issued $250 million of 4.625% senior notes due 2023 (‘2023 senior notes’) and $275 million of 6.125% senior notes due 2043 (‘2043 senior notes’). The effective interest rates of these senior notes are 4.696% and 6.154%, respectively, which include the impact of the discount upon issuance. The proceeds were used to repurchase other previously issued senior notes. The 2023 senior notes will mature on August 15, 2023 and the 2043 senior notes will mature on August 15, 2043.

Additional Information Regarding Fully Repaid Senior Notes, Term Loan Commitment and Collateralized Facility

2.125% senior notes due 2022

On May 26, 2016, Trinity Acquisition plc issued €540 million ($609 million) of 2.125% senior notes due 2022 (‘2022 senior notes’). The effective interest rate of these senior notes was 2.154%, which included the impact of the discount upon issuance. The 2022 senior notes matured on May 26, 2022. Interest had accrued on the notes from May 26, 2016 and was paid in cash on May 26 of each year. The net proceeds from this offering, after deducting underwriter discounts and commissions and estimated offering expenses, were €535 million ($600 million). We used the net proceeds of this offering to repay a portion of the previous 1-year term loan facility, which matured in 2016, and related accrued interest. In May 2022, the 2022 senior notes were repaid in full using the net proceeds from the 2027 senior notes offering discussed above.

5.750% senior notes due 2021

In March 2011, the Company issued $500 million of 5.750% senior notes due 2021. The effective interest rate of these senior notes was 5.871%, which included the impact of the discount upon issuance. The proceeds were used to repurchase and redeem other previously-issued senior notes. In March 2021, the senior notes matured, and the Company repaid the principal and interest using cash on-hand.

One-year Term Loan Commitment

As part of the acquisition of TRANZACT, the Company secured financing of up to $1.1 billion in the form of a one-year unsecured term loan. Borrowing occurred in conjunction with the closing of the acquisition on July 30, 2019.

Amounts outstanding under the term loan bore interest, at the option of the borrowers, at a rate equal to (a) LIBOR plus 0.75% to 1.375% for Eurocurrency Rate Loans or (b) the highest of (i) the Federal Funds Rate plus 0.5%, (ii) the ‘prime rate’ quoted by Bank of America, N.A., and (iii) LIBOR plus 1.00%, plus 0.00% to 0.375%, in each case, based upon the Company’s guaranteed senior-unsecured long-term debt rating. In addition, the Company paid a commitment fee in an amount equal to 0.15% per annum on the undrawn portion of the commitments in respect of the term loan, which we had accrued from May 29, 2019 until the closing date of the acquisition.

The term loan was pre-payable in part or in full prior to the maturity date at the Company’s discretion. Covenants and events of default were substantively the same as in our existing revolving credit facility. The remaining outstanding balance on the term loan was repaid in full upon issuance of the additional 2029 senior notes discussed above.

Collateralized Facility

As part of the acquisition of TRANZACT, the Company assumed debt of $91 million related to borrowings by TRANZACT whereby certain renewal commissions receivables were pledged as collateral. The Company was required to remit cash received from these pledged renewal commissions receivables on a quarterly basis to the lenders until the borrowings and related interest were repaid, after the payment of certain fees and other permitted distributions. No additional borrowings were made against this collateralized facility since the acquisition. Per the terms of the collateralized facility and specific approvals having been obtained, in November 2021 the Company repaid in full $32 million of principal and interest outstanding using cash on-hand, and the facility was subsequently closed. Prior to this repayment, cash received for the renewal commissions receivables had been classified as restricted cash on our consolidated balance sheet.

Covenants

The terms of our current financings also include certain limitations. For example, the agreements relating to the debt arrangements and credit facilities generally contain numerous operating and financial covenants, including requirements to maintain minimum ratios of consolidated EBITDA to consolidated cash interest expense and maximum levels of consolidated funded indebtedness in relation to consolidated EBITDA, in each case subject to certain adjustments. The operating restrictions and financial covenants in our current credit facilities do, and any future financing agreements may, limit our ability to finance future operations or capital needs or to engage in other business activities. At December 31, 2022 and 2021, we were in compliance with all financial covenants.

Debt Maturity

The following table summarizes the maturity of our debt and interest on senior notes and excludes any reduction for debt issuance costs:


	2023		2024		2025		2026		2027		Thereafter		Total
Senior notes	$	250	$	650	$	—	$	550	$	750	$	2,550	$	4,750
Interest on senior notes		196		174		166		147		123		1,200		2,006
Revolving $1.5 billion credit facility		—		—		—		—		—		—		—
Total	$	446	$	824	$	166	$	697	$	873	$	3,750	$	6,756

Interest Expense

The following table shows an analysis of the interest expense for the years ended December 31, 2022, 2021 and 2020:


	Years ended December 31,
	2022		2021		2020
Senior notes	$	196	$	200	$	227
Term loans		—		—		6
Revolving credit facility		3		3		4
Collateralized facility		—		2		3
Other (i)		9		6		4
Total interest expense	$	208	$	211	$	244

(i)

Other primarily includes interest expense on finance leases and accretion on deferred and contingent consideration.

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.

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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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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Fair Value Measurements

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 12 — 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 active markets in determining the fair value of these securities.

•

Market values for our derivative instruments have been used to determine the fair values 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 December 31, 2022 and December 31, 2021:


		Fair Value Measurements on a Recurring Basis at December 31, 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	$	7	$	—	$	—	$	7
	Fiduciary assets		142		—		—		142
Derivatives:
Derivative financial instruments (i)	Prepaid and other current assets and Other non-current assets	$	—	$	26	$	—	$	26
Liabilities:
Contingent consideration:
Contingent consideration (ii) (iii)	Other current liabilities and Other non-current liabilities	$	—	$	—	$	40	$	40
Derivatives:
Derivative financial instruments (i)	Other current liabilities and Other non-current liabilities	$	—	$	5	$	—	$	5


		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		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 10 — Derivative Financial Instruments for further information on our derivative instruments.

(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 10.26% and 11.92% at December 31, 2022 and December 31, 2021, respectively. The range of these discount rates was 3.53% - 13.80% at December 31, 2022. Using different probability weightings and discount rates could result in an increase or decrease of the contingent consideration payable.

(iii)

Consideration due to be paid across multiple years until 2027.

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


Fair Value Measurements Using Significant Unobservable Inputs (Level 3)	December 31, 2022
Balance at December 31, 2021	$	51
Obligations assumed		22
Payments		(22	)
Realized and unrealized gains (i)		(10	)
Foreign exchange		(1	)
Balance at December 31, 2022	$	40

(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 consolidated statements of comprehensive income.

There were no significant transfers between Levels 1, 2 or 3 during the years ended December 31, 2022 and 2021.

Fair value information about financial instruments not measured at fair value

The following tables present our assets and liabilities not measured at fair value on a recurring basis at December 31, 2021 and 2020:


	December 31, 2022				December 31, 2021
	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets:
Long-term note receivable	$	68	$	63	$	69	$	70
Liabilities:
Current debt	$	250	$	248	$	613	$	616
Long-term debt	$	4,471	$	4,069	$	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

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Retirement Benefits

Note 13 — Retirement Benefits

Defined Benefit Plans

WTW sponsors both qualified and non-qualified defined benefit pension 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 98% of WTW’s pension obligations and are presented herein. We have removed prior period disclosures pertaining to our post-retirement welfare plans as the Company considers such disclosure to no longer be material.

As part of these obligations, in the U.S., the U.K. and Canada, we have non-qualified plans that provide for the additional pension benefits that would be covered under the qualified plan in the respective country were it not for statutory maximums. The non-qualified plans are unfunded.

The significant plans within each grouping are described below:

United States

Legacy Willis – This plan was frozen in 2009. Approximately 600 WTW employees in the United States have a frozen accrued benefit under this plan.

WTW Plan – Substantially all U.S. employees are eligible to participate in this plan. Benefits are provided under a stable value pension plan design. The original stable value design came into effect on January 1, 2012. Plan participants prior to July 1, 2017 earn benefits without having to make employee contributions, and all newly-eligible employees after that date are required to contribute 2% of pay on an after-tax basis to participate in the plan.

United Kingdom

Legacy Willis – This plan covers approximately one-fifth of the Legacy Willis employees in the United Kingdom. The plan is now closed to new entrants. New employees in the United Kingdom are offered the opportunity to join a defined contribution plan.

Legacy Towers Watson – Benefit accruals earned under the Legacy Watson Wyatt defined benefit plan (predominantly pension benefits) ceased on February 28, 2015, although benefits earned prior to January 1, 2008 retain a link to salary until the employee leaves the Company. Benefit accruals earned under the legacy Towers Perrin defined benefit plan (predominantly lump sum benefits) were frozen on March 31, 2008. All participants now accrue defined contribution benefits.

Legacy Miller – This plan is no longer with WTW following the divestiture of its Miller business in March 2021 (see Note 3 — Acquisitions and Divestitures for further information). The plan provided retirement benefits based on members’ salaries at the point at which they ceased to accrue benefits under the scheme.

Other

Canada (WTW) – Participants accrue qualified and non-qualified benefits based on a career-average benefit formula. Additionally, participants can choose to make voluntary contributions to purchase enhancements to their pension.

France (legacy broking business) – The mandatory retirement indemnity plan is a termination benefit which provides lump sum benefits at retirement. There is no vesting before the retirement date, and the benefit formula is determined through the collective bargaining agreement and the labor code. All employees with permanent employment contracts are eligible.

Germany – The defined benefit plans are closed to new entrants and include certain legacy employee populations hired before 2011. These benefits are primarily account-based, with some long-service participants continuing to accrue benefits according to grandfathered final-average-pay formulas.

Ireland (Legacy Willis) – Benefit accruals ceased effective from December 31, 2019; however accrued benefits for active employees are indexed to salary increases (to a maximum annual salary of €150,000) until the member leaves the Company. A future service retirement provision is being provided on a defined contribution basis.

Ireland (Legacy Towers Watson) – Benefit accruals ceased effective from May 1, 2015; however accrued benefits for active employees are indexed to salary increases (to a maximum annual salary of €160,000) until the member leaves the Company. A future service retirement provision is being provided on a defined contribution basis.

Switzerland (WTW) – The defined benefit plans require all employees with local employment contracts to participate. The Company provides benefits in excess of the mandatory minimum required under Swiss occupational pension law. Participants continue to accrue benefits until retirement or upon leaving the Company.

Amounts Recognized in our Consolidated Financial Statements

The following schedules provide information concerning the defined benefit pension plans as of and for the years ended December 31, 2022 and 2021:


	2022									2021
	U.S.			U.K.			Other			U.S.			U.K.			Other
Change in Benefit Obligation
Benefit obligation, beginning of year	$	5,096		$	4,369		$	922		$	5,291		$	4,843		$	955
Service cost		77			12			22			79			17			24
Interest cost		119			70			15			94			56			12
Employee contributions		16			—			1			16			—			—
Actuarial gains		(1,186	)		(1,434	)		(221	)		(170	)		(109	)		(54	)
Settlements		(25	)		(5	)		(2	)		(6	)		(9	)		(6	)
Curtailments		—			—			—			—			11			—
Benefits paid		(226	)		(130	)		(30	)		(209	)		(145	)		(40	)
Plan amendments		—			—			—			—			—			12
Plan (disposal)/addition		—			—			—			—			(257	)		46
Other		—			—			2			1			—			—
Foreign currency changes		—			(447	)		(54	)		—			(38	)		(27	)
Benefit obligation, end of year	$	3,871		$	2,435		$	655		$	5,096		$	4,369		$	922
Change in Plan Assets
Fair value of plan assets, beginning of year	$	4,710		$	5,266		$	739		$	4,357		$	5,767		$	684
Actual return on plan assets		(694	)		(1,622	)		(124	)		470			(68	)		44
Employer contributions		42			33			38			82			42			36
Employee contributions		16			—			1			16			—			—
Settlements		(25	)		(5	)		(2	)		(6	)		(9	)		(6	)
Benefits paid		(226	)		(130	)		(30	)		(209	)		(145	)		(40	)
Plan (disposal)/addition		—			—			—			—			(275	)		37
Other		—			—			2			—			—			1
Foreign currency changes		—			(543	)		(44	)		—			(46	)		(17	)
Fair value of plan assets, end of year	$	3,823		$	2,999		$	580		$	4,710		$	5,266		$	739
Funded status at end of year	$	(48	)	$	564		$	(75	)	$	(386	)	$	897		$	(183	)
Accumulated Benefit Obligation	$	3,871		$	2,435		$	629		$	5,096		$	4,369		$	884
Components on the Consolidated Balance Sheet
Pension benefits assets	$	179		$	569		$	57		$	—		$	903		$	48
Current liability for pension benefits	$	(26	)	$	—		$	(5	)	$	(52	)	$	—		$	(5	)
Non-current liability for pension benefits	$	(201	)	$	(5	)	$	(127	)	$	(334	)	$	(6	)	$	(226	)
	$	(48	)	$	564		$	(75	)	$	(386	)	$	897		$	(183	)

For the year ended December 31, 2022, bond yields increased, driving an increase in the discount rates and actuarial gains for all plans. The U.K. and Other plans also had favorable effects from foreign exchange on their benefit obligations.

For the year ended December 31, 2021, bond yields increased, driving an increase in the discount rates and actuarial gains for all plans. The U.K. and Other plans also had favorable effects from foreign exchange, and the Miller disposal further reduced obligations for the U.K. plans.

Amounts recognized in accumulated other comprehensive loss as of December 31, 2022 and 2021 consist of:


	2022						2021
	U.S.		U.K.		Other		U.S.		U.K.			Other
Net actuarial loss	$	597	$	1,497	$	36	$	776	$	1,356		$	103
Net prior service loss/(gain)		—		6		9		—		(7	)		10
Accumulated other comprehensive loss	$	597	$	1,503	$	45	$	776	$	1,349		$	113

The following table presents the projected benefit obligation and fair value of plan assets for our plans that have a projected benefit obligation in excess of plan assets as of December 31, 2022 and 2021:


	2022						2021
	U.S.		U.K.		Other		U.S.		U.K.		Other
Projected benefit obligation at end of year	$	939	$	5	$	278	$	5,096	$	7	$	476
Fair value of plan assets at end of year	$	713	$	—	$	145	$	4,710	$	—	$	245

The following table presents the projected benefit obligation, accumulated benefit obligation and fair value of plan assets for our plans that have an accumulated benefit obligation in excess of plan assets as of December 31, 2022 and 2021.


	2022						2021
	U.S.		U.K.		Other		U.S.		U.K.		Other
Projected benefit obligation at end of year	$	939	$	5	$	238	$	5,096	$	7	$	458
Accumulated benefit obligation at end of year	$	939	$	5	$	228	$	5,096	$	7	$	437
Fair value of plan assets at end of year	$	713	$	—	$	106	$	4,710	$	—	$	228

The components of the net periodic benefit income and other amounts recognized in other comprehensive (income)/loss for the years ended December 31, 2022, 2021 and 2020 for the defined benefit pension plans are as follows:


	2022									2021									2020
	U.S.			U.K.			Other			U.S.			U.K.			Other			U.S.			U.K.			Other
Components of net periodic benefit (income)/cost:
Service cost	$	77		$	12		$	22		$	79		$	17		$	24		$	72		$	15		$	21
Interest cost		119			70			15			94			56			12			131			73			15
Expected return on plan assets		(331	)		(144	)		(38	)		(312	)		(170	)		(37	)		(291	)		(247	)		(34	)
Amortization of unrecognized prior service (credit)/cost		—			(12	)		1			—			(17	)		1			—			(17	)		—
Amortization of unrecognized actuarial loss		14			29			3			37			27			6			35			23			3
Settlement		4			1			(1	)		1			2			2			2			3			1
Curtailment gain		—			—			—			—			(1	)		—			—			—			—
Other		—			—			—			1			—			—			—			—			—
Net periodic benefit (income)/cost	$	(117	)	$	(44	)	$	2		$	(100	)	$	(86	)	$	8		$	(51	)	$	(150	)	$	6
Other changes in plan assets and benefit obligations recognized in other comprehensive (income)/loss:
Net actuarial (gain)/loss	$	(161	)	$	332		$	(59	)	$	(328	)	$	140		$	(61	)	$	198		$	151		$	35
Amortization of unrecognized actuarial loss		(14	)		(29	)		(3	)		(37	)		(27	)		(6	)		(35	)		(23	)		(3	)
Prior service cost		—			—			—			—			—			12			—			9			—
Amortization of unrecognized prior service credit/(cost)		—			12			(1	)		—			17			(1	)		—			17			—
Settlement		(4	)		(1	)		1			(1	)		(2	)		(2	)		(2	)		(3	)		(1	)
Curtailment gain		—			—			—			—			1			—			—			—			—
Plan (disposal)/addition		—			—			—			—			(34	)		8			—			—			—
Total recognized in other comprehensive (income)/loss		(179	)		314			(62	)		(366	)		95			(50	)		161			151			31
Total recognized in net periodic benefit (income)/cost and other comprehensive (income)/loss	$	(296	)	$	270		$	(60	)	$	(466	)	$	9		$	(42	)	$	110		$	1		$	37

Assumptions Used in the Valuations of the Defined Benefit Pension Plans

The determination of the Company’s obligations and annual expense under the plans is based on a number of assumptions that, given the longevity of the plans, are long-term in focus. A change in one or a combination of these assumptions could have a material impact on our projected benefit obligation. However, certain of these changes, such as changes in the discount rate and actuarial assumptions, are not recognized immediately in net income, but are instead recorded in other comprehensive income. The accumulated gains and losses not yet recognized in net income are amortized into net income as a component of the net periodic benefit cost/(income) generally based on the average working life expectancy or remaining life expectancy, where appropriate, of each of the plan’s active participants to the extent that the net gains or losses as of the beginning of the year exceed 10% of the greater of the market-related value of plan assets or the projected benefit obligation.

The Company considers several factors prior to the start of each fiscal year when determining the appropriate annual assumptions, including economic forecasts, relevant benchmarks, historical trends, portfolio composition and peer company comparisons. These assumptions, used to determine our pension liabilities and pension expense, are reviewed annually by senior management and changed when appropriate. A discount rate will be changed annually if underlying rates have moved, whereas an expected long-term return on assets will be changed less frequently as longer-term trends in asset returns emerge or long-term target asset allocations are revised. To calculate the discount rate, we use the granular approach to determining service and interest costs. The expected rate of return assumptions for all plans are supported by an analysis of the weighted-average yield expected to be achieved based upon the anticipated makeup of the plans’ investments. Other material assumptions include rates of participant mortality, and the expected long-term rate of compensation and pension increases.

The following assumptions were used in the valuations of WTW’s defined benefit pension plans. The assumptions presented for the U.S. plans represent the weighted-average of rates for all U.S. plans. The assumptions presented for the U.K. plans represent the weighted-average of rates for the U.K. plans. The assumptions presented for the Other plans represent the weighted-average of rates for the Canada, France, Germany, Switzerland and Ireland plans.

The assumptions used to determine net periodic benefit cost for the fiscal years ended December 31, 2022, 2021 and 2020 were as follows:


	Years ended December 31,
	2022			2021			2020
	U.S.	U.K.	Other	U.S.	U.K.	Other	U.S.	U.K.	Other
Discount rate - PBO	2.8%	1.9%	2.0%	2.5%	1.5%	1.7%	3.3%	2.0%	2.1%
Discount rate - service cost	3.0%	1.9%	2.4%	2.7%	1.6%	2.3%	3.4%	2.1%	2.5%
Discount rate - interest cost on service cost	2.5%	1.8%	2.2%	2.0%	1.4%	2.0%	2.8%	1.9%	2.4%
Discount rate - interest cost on PBO	2.4%	1.8%	1.8%	1.8%	1.2%	1.3%	2.8%	1.8%	1.9%
Expected long-term rate of return on assets	7.2%	3.0%	5.4%	7.2%	3.1%	5.4%	7.7%	5.0%	5.9%
Rate of increase in compensation levels	4.3%	3.4%	2.3%	4.3%	3.0%	2.3%	4.3%	3.0%	2.3%

The following tables present the assumptions used in the valuation to determine the projected benefit obligation for the fiscal years ended December 31, 2022 and 2021:


	December 31, 2022			December 31, 2021
	U.S.	U.K.	Other	U.S.	U.K.	Other
Discount rate	5.4%	5.0%	4.3%	2.8%	1.9%	2.0%
Rate of increase in compensation levels	4.3%	3.4%	2.4%	4.3%	3.4%	2.3%

The expected return on plan assets was determined on the basis of the weighted-average of the expected future returns of the various asset classes, using the target allocations shown below. The Company’s pension plan asset target allocations as of December 31, 2022 were as follows (note the French plan is unfunded):


	U.S.		U.K.		Switzerland	Canada	Germany	Ireland
Asset Category	WTW	Willis	Willis	Towers Watson	WTW	WTW	WTW	Willis	Towers Watson
Equity securities	23%	30%	—%	1%	49%	40%	36%	29%	40%
Debt securities	33%	33%	28%	22%	18%	50%	61%	29%	30%
Real estate	6%	11%	—%	2%	28%	5%	—%	3%	—%
Other	38%	26%	72%	75%	5%	5%	3%	39%	30%
Total	100%	100%	100%	100%	100%	100%	100%	100%	100%

Our investment strategy is designed to generate returns that will reduce the interest rate risk inherent in each of the plan’s benefit obligations and enable the plans to meet their future obligations. The precise amount for which these obligations will be settled depends on future events, including the life expectancy of the plan participants and salary inflation. The obligations are estimated using actuarial assumptions based on the current economic environment.

Each pension plan seeks to achieve total returns sufficient to meet expected future obligations when considered in conjunction with expected future contributions and prudent levels of investment risk and diversification. Each plan’s targeted asset allocation is generally determined through a plan-specific asset-liability modeling study. These comprehensive studies provide an evaluation of the projected status of asset and benefit obligation measures for each plan under a range of both positive and negative factors. The studies include a number of different asset mixes, spanning a range of diversification and potential equity exposures.

In evaluating the strategic asset allocation choices, an emphasis is placed on the long-term characteristics of each individual asset class, such as expected return, volatility of returns and correlations with other asset classes within the portfolios. Consideration is also given to the proper long-term level of risk for each plan, the impact of the volatility and magnitude of plan contributions and costs, and the impact that certain actuarial techniques may have on the plan’s recognition of investment experience.

We monitor investment performance and portfolio characteristics on a quarterly basis to ensure that managers are meeting expectations with respect to their investment approach. There are also various restrictions and controls placed on managers, including prohibition from investing in our stock.

Fair Value of Plan Assets

The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value:

•

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 fair values of our U.S. plan assets by asset category at December 31, 2022 and 2021 are as follows:


	December 31, 2022								December 31, 2021
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Asset category:
Cash	$	15	$	—	$	—	$	15	$	5	$	—	$	—	$	5
Short-term securities		—		89		—		89		—		65		—		65
Pooled/commingled funds		—		—		—		1,945		—		—		—		2,788
Private equity		—		—		—		612		—		—		—		537
Hedge funds		—		—		—		1,160		—		—		—		1,315
Total assets	$	15	$	89	$	—	$	3,821	$	5	$	65	$	—	$	4,710

The fair values of our U.K. plan assets by asset category at December 31, 2022 and 2021 are as follows:


	December 31, 2022								December 31, 2021
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Asset category:
Cash	$	125	$	—	$	—	$	125	$	389	$	—	$	—	$	389
Government bonds		1,267		—		—		1,267		2,610		—		—		2,610
Corporate bonds		—		335		—		335		—		504		—		504
Other fixed income		—		189		—		189		—		519		—		519
Pooled/commingled funds		—		—		—		1,255		—		—		—		1,537
Mutual funds		—		—		—		—		—		—		—		12
Private equity		—		—		—		20		—		—		—		25
Derivatives		—		229		—		229		—		226		—		226
Real estate		—		—		—		121		—		—		—		152
Insurance contracts		—		—		40		40		—		—		69		69
Total assets	$	1,392	$	753	$	40	$	3,581	$	2,999	$	1,249	$	69	$	6,043

Liability category:
Repurchase agreements		—		484		—		484		—		777		—		777
Derivatives		—		98		—		98		—		—		—		—
Net assets	$	1,392	$	171	$	40	$	2,999	$	2,999	$	472	$	69	$	5,266

The fair values of our Other plan assets by asset category at December 31, 2022 and 2021 are as follows:


	December 31, 2022								December 31, 2021
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Asset category:
Cash	$	3	$	—	$	—	$	3	$	4	$	—	$	—	$	4
Pooled/commingled funds		—		—		—		501		—		—		—		648
Hedge funds		—		—		—		32		—		—		—		43
Insurance contracts		—		—		5		5		—		—		7		7
Investment in multiple- employer pension plan		—		—		39		39		—		—		37		37
Total assets	$	3	$	—	$	44	$	580	$	4	$	—	$	44	$	739

We evaluate the need to transfer between levels based upon the nature of the financial instrument and size of the transfer relative to the total net assets of the plans. There were no significant transfers between Levels 1, 2 or 3 in the fiscal years ended December 31, 2022 and 2021.

In accordance with Subtopic 820-10, Fair Value Measurement and Disclosures, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in these tables are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statements of net assets.

Following is a description of the valuation methodologies used for investments at fair value:

Short-term securities: Valued at the net value of shares held by the Company at year end as reported by the sponsor of the funds.

Government bonds: Valued at the closing price reported in the active market in which the bond is traded.

Corporate bonds: Valued using pricing models maximizing the use of observable inputs for similar securities. This includes basing values on yields currently available on comparable securities of issuers with similar credit ratings.

Other fixed income: Foreign and municipal bonds are valued using pricing models maximizing the use of observable inputs for similar securities.

Pooled / commingled funds and mutual funds: Valued at the net value of shares held by the Company at year end as reported by the manager of the funds. These funds are not exchange-traded and are not reported by level in the tables above.

Derivative investments: Valued at the closing level of the relevant index or security and interest accrual through the valuation date.

Private equity funds, real estate funds, hedge funds: The fair values for these investments are estimated based on the net asset values derived from the latest audited financial statements or most recent capital account statements provided by the private equity fund’s investment manager or third-party administrator.

Insurance contracts: The fair values are determined using model-based techniques that include option-pricing models, discounted cash flow models and similar techniques.

Investment in multiple-employer pension plan: The Company sponsors a pension plan for its Swiss employees in which assets of the plan are invested in a collective fund with multiple employers through a Swiss insurance company. WTW does not have rights to, nor does it have investment authority over, the individual assets of the plan. The fair value of the plan assets is estimated based on information provided by the collective fund.

Repurchase agreements: Valued as the repurchase obligation which includes an interest rate linked to the underlying fixed interest government bond portfolio. These agreements are short-term in nature (less than one year) and were entered into for the purpose of purchasing additional government bonds.

The following table reconciles the net plan investments to the total fair value of the plan assets:


	December 31,
	2022		2021
Net assets held in investments	$	7,400	$	10,715
Net receivable for investments purchased		2		—
Fair value of plan assets	$	7,402	$	10,715

Level 3 investments

As a result of the inherent limitations related to the valuations of the Level 3 investments, due to the unobservable inputs of the underlying funds, the estimated fair values may differ significantly from the values that would have been used had a market for those investments existed.

The following table sets forth a summary of changes in the fair value of the plans’ Level 3 assets for the fiscal year ended December 31, 2022:


	Level 3 Roll Forward
Beginning balance at December 31, 2021	$	113
Purchases		5
Unrealized loss		(26	)
Foreign exchange		(8	)
Ending balance at December 31, 2022	$	84

Contributions and Benefit Payments

Funding is based on actuarially-determined contributions and is limited to amounts that are currently deductible for tax purposes. Since funding calculations are based on different measurements than those used for accounting purposes, pension contributions are not equal to net periodic pension costs.

The following table sets forth our projected pension contributions to our qualified plans for fiscal year 2023, as well as the pension contributions to our qualified plans in fiscal years 2022 and 2021:


	2023 (Projected)		2022 (Actual)		2021 (Actual)
U.S.	$	—	$	1	$	60
U.K.	$	31	$	32	$	41
Other	$	23	$	25	$	25

Expected benefit payments from our defined benefit pension plans to current plan participants, including the effects of their expected future service, as appropriate, are as follows:


	Benefit Payments
Fiscal Year	U.S.		U.K.		Other		Total
2023	$	270	$	126	$	33	$	429
2024		279		117		28		424
2025		285		119		29		433
2026		293		128		31		452
2027		297		133		33		463
Years 2028 – 2032		1,497		710		190		2,397
	$	2,921	$	1,333	$	344	$	4,598

Defined Contribution Plans

We have defined contribution plans covering eligible employees in many countries. The most significant plans are in the U.S. and U.K. and are described here.

We have a U.S. defined contribution plan covering all eligible employees of WTW. The plan allows participants to make pre-tax and Roth after-tax contributions, and the Company provides a 100% match on the first 1% of employee contributions and a 50% match on the next 5% of employee contributions. Employees vest in the Company match upon two years of service. All investment assets of the plan are held in a trust account administered by independent trustees.

Our U.K. pension plans provide for a defined contribution component as part of a master trust. We make contributions to the plan, a portion of which represents matching contributions made by the participants up to a maximum rate.

We had defined contribution plan expense for the years ended December 31, 2022, 2021 and 2020 amounting to $148 million, $155 million and $160 million, respectively.

The entire disclosure for retirement benefits.

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Commitments and Contingencies Disclosure [Abstract]

Leases

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Leases

Note 14 — Leases

The following tables present amounts recorded on our consolidated balance sheets at December 31, 2022 and 2021, classified as either operating or finance leases. Operating leases are presented separately on our consolidated balance sheets. For the finance leases, the ROU assets are included in fixed assets, net, and the liabilities are classified within Other current liabilities and Other non-current liabilities.


	December 31, 2022						December 31, 2021
	Operating Leases		Finance Leases		Total Leases		Operating Leases		Finance Leases		Total Leases
Right-of-use assets	$	586	$	4	$	590	$	720	$	6	$	726
Current lease liabilities		126		4		130		150		4		154
Long-term lease liabilities		620		12		632		734		15		749

The following tables present amounts recorded on our consolidated statements of comprehensive income for the years ended December 31, 2022, 2021 and 2020:


	Years ended December 31,
	2022			2021			2020
Finance lease cost:
Amortization of right-of-use assets	$	2		$	1		$	2
Interest on lease liabilities		2			3			3
Operating lease cost		175			192			181
Short-term lease cost		—			1			1
Variable lease cost		71			52			53
Sublease income		(15	)		(20	)		(21	)
Total lease cost, net	$	235		$	229		$	219

The total lease cost is recognized in different locations in our consolidated statements of comprehensive income. Amortization of the finance lease ROU assets is included in depreciation, while the interest cost component of these finance leases is included in interest expense. All other costs are included in other operating expenses, with the exception of $57 million and $19 million incurred during the years ended December 31, 2022 and 2021, respectively, that were included in restructuring costs (see Note 6 — Restructuring Costs) that primarily related to the acceleration of amortization or impairment of certain abandoned ROU assets and the payment of early termination fees. There are no significant lease costs that have been included as discontinued operations in the consolidated statements of comprehensive income during the years ended December 31, 2022, 2021 and 2020.

Cash paid for amounts included in the measurement of lease liabilities for the years ended December 31, 2022, 2021 and 2020, as well as its location in the consolidated statements of cash flows, is as follows:


	Years ended December 31,
	2022		2021		2020
Cash flows from operating activities:
Operating leases	$	173	$	186	$	190
Finance leases		2		3		3
Cash flows used in financing activities:
Finance leases		4		3		3
Total lease payments	$	179	$	192	$	196

Non-cash additions to our operating lease ROU assets, net of modifications, were $65 million, $37 million and $70 million during the years ended December 31, 2022, 2021 and 2020, respectively.

Our operating and finance leases have the following weighted-average terms and discount rates as of December 31, 2022 and 2021:


	December 31, 2022						December 31, 2021
	Operating Leases			Finance Leases			Operating Leases			Finance Leases
Weighted-average term (in years)		6.9			3.1			7.5			4.1
Weighted-average discount rate		3.4	%		12.7	%		3.3	%		12.7	%

The maturity of our lease liabilities on an undiscounted basis, including a reconciliation to the total lease liabilities reported on the consolidated balance sheet as of December 31, 2022, is as follows:


	Operating Leases			Finance Leases			Total Leases
2023	$	148		$	6		$	154
2024		136			6			142
2025		123			6			129
2026		103			1			104
2027		82			—			82
Thereafter		249			—			249
Total future lease payments		841			19			860
Interest		(95	)		(3	)		(98	)
Total lease liabilities	$	746		$	16		$	762

Commitments and Contingencies

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies

Note 15 — Commitments and Contingencies

Guarantees

Guarantees issued by certain of WTW’s subsidiaries with respect to the senior notes and credit facilities are discussed in Note 11 — Debt.

Certain of WTW’s subsidiaries in the U.S. and the U.K. have given the landlords of some leased properties occupied by the Company guarantees with respect to the repayment of the lease obligations. The operating lease obligations subject to such guarantees amounted to $399 million and $498 million at December 31, 2022 and 2021, respectively. The finance lease obligations subject to such guarantees amounted to $3 million and $4 million at December 31, 2022 and 2021, respectively.

Acquisition liabilities

In addition to the contingent consideration that may be payable related to our acquisitions (see Note 12 — Fair Value Measurements), we have deferred consideration of $6 million at December 31, 2022, which is payable in 2023. The Company did not have any deferred consideration at December 31, 2021.

Other contractual obligations

For certain subsidiaries and associates, the Company has the right to purchase shares (a call option) from co-shareholders at various dates in the future. In addition, the co-shareholders of certain subsidiaries and associates have the right to sell their shares (a put option) to the Company at various dates in the future. Generally, the exercise prices of such put options and call options are formula-based (using revenue and earnings) and are designed to reflect fair value. Based on current projections of profitability and exchange rates, and assuming the put options are exercised, the potential amount payable from these put options is not expected to exceed $16 million.

Additionally, the Company has capital commitments with Trident V Parallel Fund, LP, an investment fund managed by Stone Point Capital, and Dowling Capital Partners I, LP. At December 31, 2022, the Company is obligated to make capital contributions of approximately $2 million, collectively, to these funds.

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. 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 16 — Supplementary Information for Certain Balance Sheet Accounts for the amounts accrued at December 31, 2022 and 2021 in the 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 a particular quarterly or annual period.

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

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Supplementary Information for Certain Balance Sheet Accounts

Note 16 — 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:


	December 31, 2022		December 31, 2021
Prepayments and accrued income	$	132	$	137
Short-term investments		—		200
Deferred contract costs		71		74
Derivatives and investments		43		35
Deferred compensation plan assets		16		19
Corporate income and other taxes		89		82
Acquired renewal commissions receivable		9		11
Other current assets		54		54
Total prepaid and other current assets	$	414	$	612

Other non-current assets consist of the following:


	December 31, 2022		December 31, 2021
Prepayments and accrued income	$	10	$	11
Deferred contract costs		126		115
Deferred compensation plan assets		74		109
Deferred tax assets		68		79
Accounts receivable, net		9		23
Acquired renewal commissions receivable		29		52
Long-term note receivable		68		69
Other investments		90		55
Insurance recovery receivables		80		96
Non-current contract assets		745		532
Other non-current assets		58		61
Total other non-current assets	$	1,357	$	1,202

Deferred revenue and accrued expenses consist of the following:


	December 31, 2022		December 31, 2021
Accounts payable, accrued liabilities and deferred income	$	975	$	898
Accrued discretionary and incentive compensation		708		811
Accrued vacation		142		145
Other employee-related liabilities		90		72
Total deferred revenue and accrued expenses	$	1,915	$	1,926

Other current liabilities consist of the following:


	December 31, 2022		December 31, 2021
Dividends payable	$	102	$	112
Income taxes payable		83		260
Interest payable		49		55
Deferred compensation plan liabilities		14		49
Contingent and deferred consideration on acquisitions		17		24
Accrued retirement benefits		32		65
Payroll and other benefits-related liabilities		225		230
Derivatives		4		—
Third-party commissions		124		101
Other current liabilities		66		119
Total other current liabilities	$	716	$	1,015

Provision for liabilities consists of the following:


	December 31, 2022		December 31, 2021
Claims, lawsuits and other proceedings	$	296	$	311
Other provisions		61		64
Total provision for liabilities	$	357	$	375

Other non-current liabilities consist of the following:


	December 31, 2022		December 31, 2021
Deferred compensation plan liability	$	74	$	109
Contingent and deferred consideration on acquisitions		29		27
Liabilities for uncertain tax positions		40		43
Finance leases		12		15
Other non-current liabilities		66		59
Total other non-current liabilities	$	221	$	253

Other Income, Net

12 Months Ended

Dec. 31, 2022

Other Income and Expenses [Abstract]

Other Income, Net

Note 17 — Other Income, Net

Other income, net consists of the following:


	Years ended December 31,
	2022		2021		2020
Gain on disposal of operations (i)	$	7	$	379	$	81
Net periodic pension and postretirement benefit credits		272		303		304
Interest in earnings of associates and other investments		4		8		6
Foreign exchange gain (ii)		—		8		3
Other		5		3		2
Other income, net	$	288	$	701	$	396

(i)

For the year ended December 31, 2022, includes a $24 million non-cash revaluation gain related to an acquisition completed in stages.

(ii)

Includes the offsetting effects of the Company's foreign currency hedging program. See Note 10 — Derivative Financial Instruments.

Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Accumulated Other Comprehensive Loss

Note 18 — Accumulated Other Comprehensive Loss

The components of other comprehensive (loss)/income are as follows:


	December 31, 2022									December 31, 2021									December 31, 2020
	Before tax amount			Tax			Net of tax amount			Before tax amount			Tax			Net of tax amount			Before tax amount			Tax		Net of tax amount
Other comprehensive (loss)/income:
Foreign currency translation	$	(499	)	$	—		$	(499	)	$	(87	)	$	—		$	(87	)	$	139		$	—	$	139
Defined pension and post-retirement benefits		87			(22	)		65			343			(83	)		260			(342	)		76		(266	)
Derivative instruments		(6	)		4			(2	)		(1	)		3			2			(5	)		1		(4	)
Other comprehensive (loss)/income		(418	)		(18	)		(436	)		255			(80	)		175			(208	)		77		(131	)
Less: Other comprehensive loss/(income) attributable to non-controlling interests		1			—			1			(2	)		—			(2	)		(1	)		—		(1	)
Other comprehensive (loss)/income attributable to WTW	$	(417	)	$	(18	)	$	(435	)	$	253		$	(80	)	$	173		$	(209	)	$	77	$	(132	)

Changes in accumulated other comprehensive loss, net of non-controlling interests and net of tax are provided in the following table. This table excludes amounts attributable to non-controlling interests, which are not material for further disclosure.


	Foreign currency translation			Derivative instruments (i)			Defined pension and post- retirement benefit costs (ii)			Total
Balance, January 1, 2020	$	(538	)	$	13		$	(1,702	)	$	(2,227	)
Other comprehensive income/(loss) before reclassifications		138			(12	)		(298	)		(172	)
Loss reclassified from accumulated other comprehensive loss (net of income tax benefit of $11)		—			8			32			40
Net other comprehensive income/(loss)		138			(4	)		(266	)		(132	)
Balance, December 31, 2020	$	(400	)	$	9		$	(1,968	)	$	(2,359	)
Other comprehensive (loss)/income before reclassifications		(133	)		9			191			67
Loss/(gain) reclassified from accumulated other comprehensive loss (net of income tax benefit of $12) (iii)		44			(7	)		69			106
Net other comprehensive (loss)/income		(89	)		2			260			173
Balance, December 31, 2021	$	(489	)	$	11		$	(1,708	)	$	(2,186	)
Other comprehensive (loss)/income before reclassifications		(498	)		(3	)		41			(460	)
Loss reclassified from accumulated other comprehensive loss (net of income tax benefit of $9)		—			1			24			25
Net other comprehensive (loss)/income		(498	)		(2	)		65			(435	)
Balance, December 31, 2022	$	(987	)	$	9		$	(1,643	)	$	(2,621	)

(i)

Reclassification adjustments from accumulated other comprehensive loss related to derivative instruments are included in Revenue and Salaries and benefits in the accompanying consolidated statements of comprehensive income. See Note 10 — 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 13 — Retirement Benefits). These components are included in Other income, net in the accompanying 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 consolidated statements of comprehensive income.

Share-based Compensation

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Share-based Compensation

Note 19 — Share-based Compensation

Amounts related to discontinued operations in the tables and other disclosures below were not material during the years ended December 31, 2022, 2021 and 2020.

Plan Summaries

On December 31, 2022, the Company had a number of open share-based compensation plans, which provide for the granting of time-based and performance-based options, time-based and performance-based restricted stock units, and various other share-based grants to employees. All of the Company’s share-based compensation plans under which any options, restricted stock units (‘RSUs’) or other share-based grants are outstanding as of December 31, 2022 are described below.

During 2022, approximately 429,000 shares were issued under employee stock compensation plans, which is net of shares withheld for taxes and option costs. The total issued shares included approximately 316,000 RSUs that vested in a prior year. See below for further detail on the options exercised and RSUs vested in 2022.

The compensation cost that has been recognized for these plans for the years ended December 31, 2022, 2021 and 2020 was $99 million, $101 million and $90 million, respectively. Of the $99 million compensation cost for the year ended December 31, 2022, $27 million was recognized as transaction and transformation expense. The total income tax benefits recognized in the consolidated statements of comprehensive income for share-based compensation arrangements for the years ended December 31, 2022, 2021, and 2020 were $18 million, $17 million and $15 million, respectively.

2012 Equity Incentive Plan

This plan, established on April 25, 2012 and amended and restated on June 10, 2016, provides for the granting of incentive stock options, time-based or performance-based non-statutory stock options, share appreciation rights, restricted shares, time-based or performance-based RSUs, performance-based awards and other share-based grants or any combination thereof to employees, officers, non-employee directors and consultants of the Company (‘2012 Plan’). The board of directors also adopted a sub-plan under the 2012 Plan to provide an employee sharesave scheme in the U.K.

There were 3,711,668 shares remaining available for grant under this plan as of December 31, 2022. Options are exercisable on a variety of dates, including from the second, third, fourth or fifth anniversary of the grant date. The 2012 Plan shall continue in effect until terminated by the board of directors, except that no incentive stock option may be granted under the 2012 Plan after April 21, 2026 or after its expiration. That termination will not affect the validity of any grants outstanding at that date.

Towers Watson Share Plans

In January 2016, in connection with the Merger, we assumed the Towers Watson & Co. 2009 Long-Term Incentive Plan (‘2009 LTIP’) and converted the outstanding unvested restricted stock units and options into WTW RSUs and options using a conversion ratio stated in the Merger Agreement.

The acquired awards have vested in full, and the Company does not intend to grant future awards under the 2009 LTIP plan.

Options

There were no options granted during the years ended December 31, 2022, 2021 and 2020.

Award Activity

Classification of options as time-based or performance-based is dependent on the original terms of the award. Performance conditions on the options have been met. A summary of option activity under the plans at December 31, 2022, and changes during the year then ended is presented below:


	Options (thousands)			Weighted- Average Exercise Price (i)		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value
Time-based stock options
Balance as of December 31, 2021		28		$	117.45
Exercised		(12	)	$	118.90
Cancelled		(1	)	$	117.92
Balance as of December 31, 2022		15		$	116.27	0.8 years	$	2
Options vested or expected to vest at December 31, 2022		15		$	116.27	0.8 years	$	2
Options exercisable at December 31, 2022		15		$	116.27	0.8 years	$	2
Performance-based stock options
Balance as of December 31, 2021		91		$	110.58
Exercised		(91	)	$	110.58
Balance as of December 31, 2022		—		$	—	N/A	$	—
Options vested or expected to vest at December 31, 2022		—		$	—	N/A	$	—
Options exercisable at December 31, 2022		—		$	—	N/A	$	—

(i)

Certain options are exercisable in Pounds sterling and are converted to dollars using the exchange rate at December 31, 2022.

The total intrinsic values of time-based options exercised during the years ended December 31, 2022, 2021 and 2020 were $1 million, $7 million and $17 million, respectively. At December 31, 2022, there is no unrecognized compensation cost under time-based plans.

The total intrinsic value of performance-based options exercised during the year ended December 31, 2022 was $9 million; during the year ended December 31, 2021, total intrinsic value was $23 million, and was less than $1 million for the year ended December 31, 2020. At December 31, 2022, there is no unrecognized compensation cost related to the performance-based stock option plans.

Cash received from option exercises under all share-based payment arrangements for the years ended December 31, 2022, 2021 and 2020 was $7 million, $10 million and $16 million, respectively. The actual tax benefit recognized for the tax deductions from option exercises of the share-based payment arrangements totaled $11 million, $8 million and $5 million for the years ended December 31, 2022, 2021 and 2020, respectively.

Equity-settled RSUs

Valuation Assumptions

The grant date fair value of each time-based RSU is equal to the grant date stock price. Performance-based RSUs granted during the year ended December 31, 2022, contain only non-market-based performance targets, and the grant date fair value of these awards is equal to the grant date stock price. Because performance-based RSUs granted during the years ended December 31, 2021 and December 31, 2020 contain market-based performance targets, the fair value is estimated on the grant date using a Monte-Carlo simulation that uses the assumptions noted in the following table. Expected volatility is based on the historical volatility of the Company’s shares. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of the grant. The assumptions noted in the table below represent the weighted average of each assumption for each grant during the year.


	Years ended December 31,
	2021			2020
Expected volatility		29.1	%		24.2	%
Expected dividend yield		—	%		—	%
Expected life (years)		2.9			2.9
Risk-free interest rate		0.3	%		0.4	%

Award Activity

A summary of time-based and performance-based RSU activity under the plans at December 31, 2022, and changes during the year then ended, is presented below:


	Shares (thousands)			Weighted- Average Grant Date Fair Value
Time-based RSUs
Balance as of December 31, 2021		388		$	240.77
Granted		100		$	226.84
Vested		(35	)	$	242.82
Forfeited		(41	)	$	240.73
Balance as of December 31, 2022		412		$	237.23
Performance-based RSUs
Balance as of December 31, 2021		468		$	280.46
Granted		186		$	237.57
Vested		(32	)	$	302.69
Forfeited		(34	)	$	267.79
Balance as of December 31, 2022		588		$	266.39

Time-based RSUs approximating 35,000, 15,000 and 13,000 vested during the years ended December 31, 2022, 2021 and 2020, respectively, with average share prices of $202.80, $250.83 and $195.69, respectively. At December 31, 2022 there was $60 million of total unrecognized compensation cost related to the time-based RSU plan; that cost is expected to be recognized over a weighted-average period of 1.8 years.

Performance-based RSUs approximating 32,000, 133,000 and 416,000 vested during the years ended December 31, 2022, 2021 and 2020, respectively, with average share prices of $197.55, $224.79 and $185.30, respectively. At December 31, 2022 there was $49 million of total unrecognized compensation cost related to the performance-based RSU plan; that cost is expected to be recognized over a weighted-average period of 1.7 years.

The actual tax benefits recognized for the tax deductions from RSUs that vested totaled $23 million, $12 million and $7 million for the years ended December 31, 2022, 2021 and 2020, respectively.

The amounts reflected above include awards which will be cash-settled due to local requirements. These awards are classified as liabilities in our consolidated balance sheets and are not material.

Phantom RSUs

During the years ended December 31, 2022 and 2021 cash payments totaling $32 million and $52 million, respectively, were made related to phantom stock units. There were no cash payments related to phantom stock during the year ended December 31, 2020. Phantom stock units are cash-settled awards with final payout based on the performance of the Company’s stock. Since the awards are cash-settled, they are considered a liability. Expense is recognized over the service period. The liability is remeasured at the end of each reporting period, and changes in fair value are recognized as compensation cost. There is no remaining liability or unearned compensation related to phantom stock as of December 31, 2022. The Company did not grant phantom stock during 2022, 2021 and 2020.

Earnings Per Share

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Earnings Per Share

Note 20 — 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. See Note 19 — Share-based Compensation for a summary of our outstanding options and RSUs.

Basic and diluted earnings per share are as follows:


	Years ended December 31,
	2022			2021			2020
Income from continuing operations	$	1,064		$	2,156		$	762
Less: income attributable to non-controlling interests		(15	)		(14	)		(24	)
Income from continuing operations attributable to WTW	$	1,049		$	2,142		$	738

(Loss)/income from discontinued operations, net of tax	$	(40	)	$	2,080		$	258

Basic weighted-average number of shares outstanding		112			128			130
Dilutive effect of potentially issuable shares		—			1			—
Diluted weighted-average number of shares outstanding		112			129			130

Basic earnings per share from continuing operations attributable to WTW	$	9.36		$	16.68		$	5.69
Dilutive effect of potentially issuable shares		(0.02	)		(0.05	)		(0.02	)
Diluted earnings per share from continuing operations attributable to WTW	$	9.34		$	16.63		$	5.67

Basic (loss)/earnings per share from discontinued operations, net of tax	$	(0.36	)	$	16.20		$	1.99
Dilutive effect of potentially issuable shares		—			(0.05	)		(0.01	)
Diluted (loss)/earnings per share from discontinued operations, net of tax	$	(0.36	)	$	16.15		$	1.98

There were no anti-dilutive options for the years ended December 31, 2022, 2021 and 2020. For the years ended December 31, 2022, 2021 and 2020, 0.2 million, 0.3 million and 0.1 million RSUs, respectively, were not included in the computation of the dilutive effect of potentially issuable shares because their effect was anti-dilutive.

Supplemental Disclosures of Cash Flow Information

12 Months Ended

Dec. 31, 2022

Supplemental Cash Flow Elements [Abstract]

Supplemental Disclosures of Cash Flow Information

Note 21 — Supplemental Disclosures of Cash Flow Information

Supplemental disclosures regarding cash flow information and non-cash investing and financing activities are as follows:


	As of and for the Years Ended December 31,
	2022			2021			2020
Supplemental disclosures of cash flow information:
Cash and cash equivalents	$	1,262		$	4,486		$	2,039
Fiduciary funds (included in fiduciary assets)		3,459			3,203			4,205
Cash and cash equivalents and fiduciary funds (included in current assets held for sale)		—			2			50
Other restricted cash (included in prepaids and other current assets)		—			—			7
Total cash, cash equivalents and restricted cash	$	4,721		$	7,691		$	6,301

(Decrease)/increase in cash, cash equivalents and other restricted cash	$	(3,177	)	$	2,425		$	1,180
Increase/(decrease) in fiduciary funds		371			(908	)		812
Total	$	(2,806	)	$	1,517		$	1,992

Cash payments for income taxes, net	$	428		$	570		$	310
Cash payments for interest	$	201		$	212		$	229
Cash acquired	$	30		$	5		$	10
Supplemental disclosures of non-cash investing and financing activities:
Non-cash consideration received	$	63		$	—		$	—
Fair value of deferred and contingent consideration related to acquisitions	$	28		$	21		$	9

Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2022

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (Unaudited)

Note 22 — Quarterly Financial Data (Unaudited)

WTW presents the following quarterly financial data for 2021. No changes to the data provided below have been made during the current year, and no changes have been made to 2022 quarterly data previously filed within our Quarterly Reports on Form 10-Q for the quarters ended September 30, June 30, and March 31, 2022.


	Three Months Ended
	March 31,		June 30,		September 30,			December 31,
2021
Revenue	$	2,228	$	2,091	$	1,973		$	2,706
Total costs of providing services		2,017		1,921		842			2,016
Income from operations		211		170		1,131			690
Income from continuing operations		546		117		919			574
Income/(loss) from discontinued operations, net of tax		190		69		(12	)		1,833
Net income		736		186		907			2,407
Net income attributable to WTW		733		184		903			2,402
Earnings per share
— Basic: income from continuing operations	$	4.18	$	0.89	$	7.10		$	4.56
— Diluted: income from continuing operations	$	4.17	$	0.88	$	7.08		$	4.54

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

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Basis of Presentation

Risks and Uncertainties of the Economic Environment

Principles of Consolidation

Use of Estimates

Going Concern

Fair Value of Financial Instruments

they are corroborated by observable market data. See Note 12 — Fair Value Measurements for additional information about our measurements of fair value.

•

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 active markets in determining the fair value of these securities.

•

Cash and Cash Equivalents

Fiduciary Assets and Liabilities

Fiduciary assets on the consolidated balance sheets are comprised of fiduciary funds, benefit funds investments and fiduciary receivables:

Accounts Receivable

Acquired Accounts Receivable

Income Taxes

The Company recognizes interest and penalties relating to unrecognized tax benefits within income taxes. See Note 7 — Income Taxes for additional information regarding the Company’s income taxes.

Foreign Currency

Derivatives

Commitments, Contingencies and Accrued Liabilities

Share-Based Compensation

See Note 19 — Share-based Compensation for additional information about the Company’s share-based compensation.

Fixed Assets

Leases

Our leases generally do not subject us to restrictive covenants and contain no residual value guarantees.

See Note 14 — Leases for additional information about our operating leases.

Goodwill and Other Intangible Assets

Acquired intangible assets are amortized over the following periods:


	Amortization basis	Expected life (years)
Client relationships	In line with underlying cash flows	3 to 21
Software	In line with underlying cash flows or straight-line basis	5 to 7
Trademark and trade name	Straight-line basis	5 to 25
Other	In line with underlying cash flows or straight-line basis	5 to 20

Pensions

Revenue Recognition

We have engagement letters with our clients that specify the terms and conditions upon which the engagements are based. These terms and conditions can only be changed upon agreement by both parties.

We use different progress measures to determine our revenue depending on the nature of the engagement:

•

These contracts typically consist of an implementation phase and an ongoing administration phase:

•

Interest income — Interest income is recognized as earned.

For our broking business, the Company must estimate the fulfillment costs incurred during the pre-placement of the broking contracts. These judgments include:

•

which activities in the pre-placement process should be eligible for capitalization;

•

the amount of time and effort expended on those pre-placement activities;

•

the amount of payroll and related costs eligible for capitalization; and,

•

the monthly or quarterly timing of underlying insurance and reinsurance policy inception dates.

Recent Accounting Pronouncements

There were no new pronouncements that are expected to have a significant impact to the Company or its consolidated financial statements.

Other Legislation

Inflation Reduction Act

Pillar Two

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

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Schedule of Acquired Intangible Assets Amortized

Acquired intangible assets are amortized over the following periods:


	Amortization basis	Expected life (years)
Client relationships	In line with underlying cash flows	3 to 21
Software	In line with underlying cash flows or straight-line basis	5 to 7
Trademark and trade name	Straight-line basis	5 to 25
Other	In line with underlying cash flows or straight-line basis	5 to 20

Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2022

Business Combinations [Abstract]

Schedule of Selected Financial Information and Summary of Total Assets and Liabilities Relates to the Operations of Willis Re

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


	Years ended December 31,
	2022			2021			2020
Revenue from discontinued operations	$	48		$	721		$	737
Costs of providing services
Salaries and benefits		14			350			350
Other operating expenses		10			59			61
Depreciation and amortization		—			2			2
Transaction and transformation, net		—			33			—
Total costs of providing services		24			444			413
Other income, net		5			2			3
Income from discontinued operations before income taxes		29			279			327
(Loss)/gain on disposal of Willis Re		(65	)		2,300			—
Benefit from/(provision for) income tax expense		1			(500	)		(69	)
Net income (payable to)/receivable from Gallagher on Deferred Closing		(5	)		1			—
(Loss)/income from discontinued operations, net of tax	$	(40	)	$	2,080		$	258

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)

12 Months Ended

Dec. 31, 2022

Disaggregation of Revenue

The following table presents revenue by service offering and segment, as well as a reconciliation to total revenue for the years ended December 31, 2022, 2021 and 2020. Along with reimbursable expenses and other, total revenue by service offering represents our revenue from customer contracts. The prior years’ segment information has been retrospectively adjusted to conform to the current year presentation.


Year Ended December 31,	Broking		Consulting		Outsourced Administration		Other		Total revenue by service offering		Reimbursable expenses and other (i)			Total revenue from customer contracts			Interest and other income (ii)		Total revenue
HWC
2022	$	1,415	$	2,522	$	979	$	332	$	5,248	$	64		$	5,312		$	39	$	5,351
2021		1,295		2,538		1,046		352		5,231		60			5,291			37		5,328
2020		1,141		2,413		1,028		295		4,877		64			4,941			18		4,959
R&B
2022		2,745		370		75		194		3,384		11			3,395			76		3,471
2021		2,822		384		88		175		3,469		7			3,476			95		3,571
2020		2,707		336		81		154		3,278		7			3,285			38		3,323
Divested Businesses
2022		—		—		—		—		—		—			—			—		—
2021		65		6		—		—		71		—			71			35		106
2020		290		2		—		31		323		—			323			1		324
Corporate (i)
2022		7		10		—		—		17		2			19			25		44
2021		—		8		—		4		12		(24	)		(12	)		5		(7	)
2020		1		5		—		3		9		(4	)		5			4		9
Total
2022	$	4,167	$	2,902	$	1,054	$	526	$	8,649	$	77		$	8,726		$	140	$	8,866
2021	$	4,182	$	2,936	$	1,134	$	531	$	8,783	$	43		$	8,826		$	172	$	8,998
2020	$	4,139	$	2,756	$	1,109	$	483	$	8,487	$	67		$	8,554		$	61	$	8,615

(i)

(ii)


Year Ended December 31,	North America		Europe		International		Total revenue by geography
HWC
2022	$	3,569	$	1,266	$	413	$	5,248
2021		3,456		1,376		399		5,231
2020		3,287		1,219		371		4,877
R&B
2022		1,328		1,527		529		3,384
2021		1,295		1,623		551		3,469
2020		1,237		1,549		492		3,278
Divested Businesses
2022		—		—		—		—
2021		17		53		1		71
2020		19		298		6		323
Corporate
2022		7		9		1		17
2021		8		3		1		12
2020		7		2		—		9
Total
2022	$	4,904	$	2,802	$	943	$	8,649
2021	$	4,776	$	3,055	$	952	$	8,783
2020	$	4,550	$	3,068	$	869	$	8,487

Contract with Customer, Asset and Liability


	December 31, 2022		December 31, 2021
Billed receivables, net of allowance for doubtful accounts of $46 million and $45 million	$	1,464	$	1,504
Unbilled receivables		457		431
Current contract assets		466		435
Accounts receivable, net	$	2,387	$	2,370
Non-current accounts receivable, net	$	9	$	23
Non-current contract assets	$	745	$	532
Deferred revenue	$	646	$	576

Schedule of Changes in Allowance for Doubtful Accounts


	December 31, 2022			December 31, 2021			December 31, 2020
Balance at beginning of year	$	45		$	40		$	36
Additions charged to costs and expenses		14			16			28
Deductions/other movements		(20	)		(18	)		(27	)
Foreign exchange		7			7			3
Balance at end of year	$	46		$	45		$	40

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

In addition, in accordance with 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’).


	2023		2024		2025 onward		Total
Revenue expected to be recognized on contracts as of December 31, 2022	$	761	$	489	$	566	$	1,816

Capitalized Contract Cost

The following table shows the categories of costs that are capitalized and deferred over the expected life of a contract.


	Costs to fulfill
	December 31, 2022			December 31, 2021			December 31, 2020
Balance at beginning of the year	$	189		$	191		$	162
New capitalized costs		421			454			455
Amortization		(407	)		(451	)		(428	)
Disposals		—			(4	)		—
Impairments		—			(1	)		(1	)
Foreign currency translation		(6	)		—			3
Balance at end of the year	$	197		$	189		$	191

Segment Information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment


	Segment revenue						Segment operating income
	Years ended December 31						Years ended December 31
	2022		2021		2020		2022		2021		2020
HWC	$	5,287	$	5,268	$	4,895	$	1,382	$	1,346	$	1,236
R&B		3,460		3,564		3,316		734		835		714
Total	$	8,747	$	8,832	$	8,211	$	2,116	$	2,181	$	1,950

Net Operating Income of the Reported Segments

The following table presents reconciliations of the information reported by segment to the Company’s consolidated amounts reported for the years ended December 31, 2022, 2021 and 2020.


	Years ended December 31,
	2022			2021			2020
Revenue:
Total segment revenue	$	8,747		$	8,832		$	8,211
Divested businesses (i)		—			106			324
Reimbursable expenses and other		119			60			80
Revenue	$	8,866		$	8,998		$	8,615

Total segment operating income	$	2,116		$	2,181		$	1,950
Divested businesses (i)		—			(24	)		(13	)
Impairment (ii)		(81	)		—			—
Amortization		(312	)		(369	)		(461	)
Restructuring costs (iii)		(99	)		(26	)		(24	)
Transaction and transformation, net (iv)		(181	)		806			(110	)
Provision for significant litigation (v)		—			—			(65	)
Unallocated, net (vi)		(265	)		(366	)		(418	)
Income from operations		1,178			2,202			859
Interest expense		(208	)		(211	)		(244	)
Other income, net		288			701			396
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	$	1,258		$	2,692		$	1,011

(i)

Represents the revenue and income from operations of certain Investment, Risk and Reinsurance businesses which were divested in 2021 and 2020 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)

(v)

Represents the recognition of settlement expense attributable to the Company's Merger-related securities litigation during the year ended December 31, 2020.

(vi)

Revenue and Tangible Long-lived Assets by Geographical Areas


	Revenue						Long-Lived Assets (i)
	Years ended December 31,						December 31,		December 31,
	2022		2021		2020		2022		2021
Ireland	$	130	$	197	$	157	$	11	$	3

United States		4,760		4,621		4,359		465		562
United Kingdom		1,563		1,632		1,604		496		605
Rest of World		2,413		2,548		2,495		332		401
Total Foreign Countries		8,736		8,801		8,458		1,293		1,568
	$	8,866	$	8,998	$	8,615	$	1,304	$	1,571

(i)

Tangible long-lived assets consist of fixed assets and ROU assets.

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income from continuing operations before income taxes and interest in earnings of associates by location of taxing jurisdiction

An analysis of income from continuing operations before income taxes by taxing jurisdiction is shown below:


	Years ended December 31,
	2022			2021		2020
Ireland	$	(160	)	$	673	$	(5	)
U.S.		394			516		(97	)
U.K.		142			552		184
Rest of World		882			951		929
Total	$	1,258		$	2,692	$	1,011

Provision for benefit from income taxes from continuing operations

The components of the provision for income taxes from continuing operations include:


	Years ended December 31,
	2022			2021			2020
Current tax expense:
U.S. federal taxes	$	(103	)	$	(79	)	$	(3	)
U.S. state and local taxes		(39	)		(25	)		3
U.K. corporation tax		(13	)		(33	)		(16	)
Other jurisdictions		(93	)		(303	)		(134	)
Total current tax expense		(248	)		(440	)		(150	)
Deferred tax (expense)/benefit:
U.S. federal taxes		52			(41	)		(79	)
U.S. state and local taxes		(5	)		3			—
U.K. corporation tax		(7	)		(65	)		(48	)
Other jurisdictions		14			7			28
Total deferred tax (expense)/benefit		54			(96	)		(99	)
Total provision for income taxes	$	(194	)	$	(536	)	$	(249	)

Reconciliation between US federal income taxes at the statutory rate and the Company's provision for income taxes on continuing operations


	Years ended December 31,
	2022			2021			2020
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	$	1,258		$	2,692		$	1,011
U.S. federal statutory income tax rate		21	%		21	%		21	%
Income tax expense at U.S. federal tax rate		(264	)		(565	)		(212	)
Adjustments to derive effective tax rate:
Non-deductible expenses and dividends		(25	)		(21	)		(19	)
Net adjustments on acquisition costs		(4	)		13			(15	)
Impact of change in rate on deferred tax balances		(1	)		(36	)		(7	)
Effect of foreign exchange and other differences		28			—			(4	)
Changes in valuation allowances		1			2			(8	)
Net tax effect on intra-group items		84			84			90
Net tax effect on disposal of operations		1			62			16
Tax differentials of non-U.S. jurisdictions		20			(24	)		(2	)
Impact of U.S. state and local taxes		(42	)		(23	)		4
Global Intangible Low-Taxed Income (GILTI)		(10	)		(4	)		(3	)
Base Erosion Anti-Abuse Tax (BEAT)		24			(22	)		(83	)
Tax on unremitted earnings		(14	)		—			—
Other items, net		8			(2	)		(6	)
Provision for income taxes	$	(194	)	$	(536	)	$	(249	)

Significant components of deferred income tax assets and liabilities and their balance sheet classifications

Deferred income tax assets and liabilities included in the consolidated balance sheets at December 31, 2022 and 2021 are comprised of the following:


	December 31,
	2022			2021
Deferred tax assets:
Accrued expenses not currently deductible	$	69		$	72
Interest carryforwards		174			91
Net operating losses		44			71
Capital loss carryforwards		1			1
Accrued retirement benefits		85			189
Operating lease liabilities		125			153
Deferred compensation		97			92
Stock options		18			22
Financial derivative transactions		4			1
Gross deferred tax assets		617			692
Less: valuation allowance		(28	)		(42	)
Net deferred tax assets	$	589		$	650
Deferred tax liabilities:
Cost of intangible assets, net of related amortization	$	679		$	735
Operating lease right-of-use assets		106			142
Cost of tangible assets, net of related depreciation		44			95
Prepaid retirement benefits		142			228
Accrued revenue not currently taxable		262			194
Unremitted earnings		36			22
Deferred tax liabilities	$	1,269		$	1,416
Net deferred tax liabilities	$	680		$	766

The net deferred income tax assets are included in Other non-current assets and the net deferred tax liabilities are included in Deferred tax liabilities in our consolidated balance sheets.


	December 31,
	2022		2021
Balance sheet classifications:
Other non-current assets	$	68	$	79
Deferred tax liabilities		748		845
Net deferred tax liability	$	680	$	766

Summary of Valuation Allowance

An analysis of our valuation allowance is shown below.


	Years ended December 31,
	2022			2021			2020
Balance at beginning of year	$	42		$	84		$	76
Additions charged to costs and expenses		8			3			17
Deductions		(22	)		(45	)		(9	)
Balance at end of year	$	28		$	42		$	84

Reconciliation of the beginning and ending amounts of unrecognized tax benefits

A reconciliation of the beginning and ending balances of the liability for unrecognized tax benefits is as follows:


	2022			2021			2020
Balance at beginning of year	$	43		$	50		$	49
Increases related to acquisitions		—			—			4
Increases related to tax positions in prior years		16			—			1
Decreases related to tax positions in prior years		(2	)		—			—
Decreases related to settlements		(1	)		—			(3	)
Decreases related to lapse in statute of limitations		(6	)		(6	)		(2	)
Cumulative translation adjustment and other adjustments		(3	)		(1	)		1
Balance at end of year	$	47		$	43		$	50

Summary of Income Tax Examinations


	Open Tax Years (fiscal year ending in)
U.S. — federal	2018 and forward
U.S. — various states	2015 and forward
U.K.	2014 and forward
Ireland	2018 and forward
France	2017 and forward
Germany	2008 and forward
Canada - federal	2015 and forward

Fixed Assets (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

The following table reflects changes in the net carrying amount of the components of fixed assets for the years ended December 31, 2022 and 2021:


	Furniture, equipment and software			Leasehold improvements			Land and buildings			Total
Cost: at January 1, 2021	$	1,467		$	577		$	90		$	2,134
Additions		176			18			—			194
Disposals (i)		(145	)		(61	)		(2	)		(208	)
Foreign exchange		(21	)		(7	)		—			(28	)
Cost: at December 31, 2021		1,477			527			88			2,092
Additions		174			24			—			198
Acquisitions		1			—			—			1
Disposals (ii)		(129	)		(78	)		—			(207	)
Foreign exchange		(71	)		(21	)		(5	)		(97	)
Cost: at December 31, 2022	$	1,452		$	452		$	83		$	1,987

Depreciation: at January 1, 2021	$	(764	)	$	(295	)	$	(62	)	$	(1,121	)
Depreciation expense		(227	)		(51	)		(3	)		(281	)
Disposals		103			41			2			146
Foreign exchange		11			4			—			15
Depreciation: at December 31, 2021		(877	)		(301	)		(63	)		(1,241	)
Depreciation expense		(211	)		(40	)		(4	)		(255	)
Disposals		113			57			—			170
Foreign exchange		42			12			3			57
Depreciation: at December 31, 2022	$	(933	)	$	(272	)	$	(64	)	$	(1,269	)

Net book value:
At December 31, 2021	$	600		$	226		$	25		$	851

At December 31, 2022	$	519		$	180		$	19		$	718

(i)

(ii)

Finance Leases

Included within land and buildings are the following assets held under finance leases:


	December 31,
	2022			2021
Finance leases	$	26		$	26
Accumulated depreciation		(22	)		(20	)
	$	4		$	6

Restructuring Costs (Tables)

12 Months Ended

Dec. 31, 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 December 31, 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		—		—		79		79
Technology modernization		—		3		16		19
Process optimization		1		—		—		1
Other		—		—		—		—
Total
Real estate rationalization		—		—		98		98
Technology modernization		—		8		16		24
Process optimization		1		—		—		1
Other		—		—		2		2
Total	$	1	$	8	$	116	$	125

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		27			—		1			—			28
Cash payments		(21	)		—		(1	)		(1	)		(23	)
Balance at December 31, 2022	$	6		$	—	$	—		$	—		$	6

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Components of Goodwill


	HWC			R&B			Divested Businesses (i)			Total
Balance at December 31, 2020
Goodwill, gross	$	7,893		$	2,798		$	193		$	10,884
Accumulated impairment losses		(130	)		(362	)		—			(492	)
Goodwill, net - December 31, 2020		7,763			2,436			193			10,392
Goodwill acquired		43			8			—			51
Goodwill disposals		—			(7	)		(193	)		(200	)
Foreign exchange		(32	)		(28	)		—			(60	)
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		—			104			—			104
Goodwill disposals		—			(18	)		—			(18	)
Foreign exchange		(34	)		(62	)		—			(96	)
Balance at December 31, 2022
Goodwill, gross		7,870			2,795			—			10,665
Accumulated impairment losses		(130	)		(362	)		—			(492	)
Goodwill, net - December 31, 2022	$	7,740		$	2,433		$	—		$	10,173

(i)

Represents goodwill associated with certain Investment, Risk and Reinsurance businesses which were divested in 2021.

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 years ended December 31, 2022 and 2021:


	Client relationships			Software			Trademark and trade name			Other			Total
Balance at December 31, 2020:
Intangible assets, gross	$	4,012		$	761		$	1,054		$	103		$	5,930
Accumulated amortization		(2,028	)		(659	)		(220	)		(34	)		(2,941	)
Intangible assets, net - December 31, 2020		1,984			102			834			69			2,989
Intangible assets acquired		14			—			—			—			14
Intangible asset disposals		(47	)		—			(8	)		—			(55	)
Amortization		(250	)		(61	)		(43	)		(15	)		(369	)
Foreign exchange		(25	)		—			(1	)		2			(24	)
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		67			4			1			—			72
Intangible asset disposals		(1	)		—			—			(5	)		(6	)
Amortization		(230	)		(31	)		(42	)		(9	)		(312	)
Foreign exchange		(34	)		(1	)		(1	)		—			(36	)
Balance at December 31, 2022:
Intangible assets, gross		3,760			725			1,038			98			5,621
Accumulated amortization		(2,282	)		(712	)		(298	)		(56	)		(3,348	)
Intangible assets, net - December 31, 2022	$	1,478		$	13		$	740		$	42		$	2,273

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 next five years and thereafter:


Years ended December 31,	Amortization
2023	$	263
2024		230
2025		209
2026		201
2027		197
Thereafter		1,173
Total	$	2,273

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

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
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-Paragraph 1
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-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
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-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

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

Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Designated [Member]


	(Loss)/gain recognized in OCL (effective element)
	2022			2021		2020
Foreign exchange contracts	$	(8	)	$	5	$	(13	)


Location of gain/(loss) reclassified from Accumulated OCL into income (effective element)	Gain/(loss) reclassified from Accumulated OCL into income (effective element)
	2022			2021			2020
Revenue	$	2		$	(3	)	$	(5	)
Salaries and benefits		(4	)		6			(3	)
Discontinued operations		—			3			(1	)
	$	(2	)	$	6		$	(9	)

Nondesignated [Member]

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


	Location of (loss)/gain	(Loss)/gain recognized in income
Derivatives not designated as hedging instruments:	recognized in income	2022			2021		2020
Foreign exchange contracts	Other income, net	$	(147	)	$	—	$	(3	)

Debt (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Current and Long-term Debt

Current debt consists of the following:


	December 31,
	2022		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:


	December 31,
	2022		2021
Revolving $1.5 billion credit facility	$	—	$	—
4.625% senior notes due 2023		—		249
3.600% senior notes due 2024		649		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
	$	4,471	$	3,974

(i)

Notes issued in Euro (€540 million).

Summary of Entities


Entity	Revolving credit facility 4.625% due 2023 4.400% due 2026 6.125% due 2043	3.600% due 2024 4.650% due 2027 4.500% due 2028 2.950% due 2029 5.050% due 2048 3.875% due 2049
Willis Towers Watson plc	Guarantor	Guarantor
Trinity Acquisition plc	Issuer	Guarantor
Willis North America Inc.	Guarantor	Issuer
Willis Netherlands Holdings B.V.	Guarantor	Guarantor
Willis Investment UK Holdings Limited	Guarantor	Guarantor
TA I Limited	Guarantor	Guarantor
Willis Group Limited	Guarantor	Guarantor
Willis Towers Watson Sub Holdings Unlimited Company	Guarantor	Guarantor
Willis Towers Watson UK Holdings Limited	Guarantor	Guarantor

Schedule of Maturities of Long-term Debt

The following table summarizes the maturity of our debt and interest on senior notes and excludes any reduction for debt issuance costs:


	2023		2024		2025		2026		2027		Thereafter		Total
Senior notes	$	250	$	650	$	—	$	550	$	750	$	2,550	$	4,750
Interest on senior notes		196		174		166		147		123		1,200		2,006
Revolving $1.5 billion credit facility		—		—		—		—		—		—		—
Total	$	446	$	824	$	166	$	697	$	873	$	3,750	$	6,756

Schedule of Debt Interest Expense

The following table shows an analysis of the interest expense for the years ended December 31, 2022, 2021 and 2020:


	Years ended December 31,
	2022		2021		2020
Senior notes	$	196	$	200	$	227
Term loans		—		—		6
Revolving credit facility		3		3		4
Collateralized facility		—		2		3
Other (i)		9		6		4
Total interest expense	$	208	$	211	$	244

(i)

Other primarily includes interest expense on finance leases and accretion on deferred and contingent consideration.

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 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 December 31, 2022 and December 31, 2021:


		Fair Value Measurements on a Recurring Basis at December 31, 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	$	7	$	—	$	—	$	7
	Fiduciary assets		142		—		—		142
Derivatives:
Derivative financial instruments (i)	Prepaid and other current assets and Other non-current assets	$	—	$	26	$	—	$	26
Liabilities:
Contingent consideration:
Contingent consideration (ii) (iii)	Other current liabilities and Other non-current liabilities	$	—	$	—	$	40	$	40
Derivatives:
Derivative financial instruments (i)	Other current liabilities and Other non-current liabilities	$	—	$	5	$	—	$	5


		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		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 10 — Derivative Financial Instruments for further information on our derivative instruments.

(ii)

(iii)

Consideration due to be paid across multiple years until 2027.

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)	December 31, 2022
Balance at December 31, 2021	$	51
Obligations assumed		22
Payments		(22	)
Realized and unrealized gains (i)		(10	)
Foreign exchange		(1	)
Balance at December 31, 2022	$	40

(i)

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

The following tables present our assets and liabilities not measured at fair value on a recurring basis at December 31, 2021 and 2020:


	December 31, 2022				December 31, 2021
	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets:
Long-term note receivable	$	68	$	63	$	69	$	70
Liabilities:
Current debt	$	250	$	248	$	613	$	616
Long-term debt	$	4,471	$	4,069	$	3,974	$	4,453

Retirement Benefits (Tables)

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Schedule of Changes in Projected Benefit Obligations

The following schedules provide information concerning the defined benefit pension plans as of and for the years ended December 31, 2022 and 2021:


	2022									2021
	U.S.			U.K.			Other			U.S.			U.K.			Other
Change in Benefit Obligation
Benefit obligation, beginning of year	$	5,096		$	4,369		$	922		$	5,291		$	4,843		$	955
Service cost		77			12			22			79			17			24
Interest cost		119			70			15			94			56			12
Employee contributions		16			—			1			16			—			—
Actuarial gains		(1,186	)		(1,434	)		(221	)		(170	)		(109	)		(54	)
Settlements		(25	)		(5	)		(2	)		(6	)		(9	)		(6	)
Curtailments		—			—			—			—			11			—
Benefits paid		(226	)		(130	)		(30	)		(209	)		(145	)		(40	)
Plan amendments		—			—			—			—			—			12
Plan (disposal)/addition		—			—			—			—			(257	)		46
Other		—			—			2			1			—			—
Foreign currency changes		—			(447	)		(54	)		—			(38	)		(27	)
Benefit obligation, end of year	$	3,871		$	2,435		$	655		$	5,096		$	4,369		$	922
Change in Plan Assets
Fair value of plan assets, beginning of year	$	4,710		$	5,266		$	739		$	4,357		$	5,767		$	684
Actual return on plan assets		(694	)		(1,622	)		(124	)		470			(68	)		44
Employer contributions		42			33			38			82			42			36
Employee contributions		16			—			1			16			—			—
Settlements		(25	)		(5	)		(2	)		(6	)		(9	)		(6	)
Benefits paid		(226	)		(130	)		(30	)		(209	)		(145	)		(40	)
Plan (disposal)/addition		—			—			—			—			(275	)		37
Other		—			—			2			—			—			1
Foreign currency changes		—			(543	)		(44	)		—			(46	)		(17	)
Fair value of plan assets, end of year	$	3,823		$	2,999		$	580		$	4,710		$	5,266		$	739
Funded status at end of year	$	(48	)	$	564		$	(75	)	$	(386	)	$	897		$	(183	)
Accumulated Benefit Obligation	$	3,871		$	2,435		$	629		$	5,096		$	4,369		$	884
Components on the Consolidated Balance Sheet
Pension benefits assets	$	179		$	569		$	57		$	—		$	903		$	48
Current liability for pension benefits	$	(26	)	$	—		$	(5	)	$	(52	)	$	—		$	(5	)
Non-current liability for pension benefits	$	(201	)	$	(5	)	$	(127	)	$	(334	)	$	(6	)	$	(226	)
	$	(48	)	$	564		$	(75	)	$	(386	)	$	897		$	(183	)

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

Amounts recognized in accumulated other comprehensive loss as of December 31, 2022 and 2021 consist of:


	2022						2021
	U.S.		U.K.		Other		U.S.		U.K.			Other
Net actuarial loss	$	597	$	1,497	$	36	$	776	$	1,356		$	103
Net prior service loss/(gain)		—		6		9		—		(7	)		10
Accumulated other comprehensive loss	$	597	$	1,503	$	45	$	776	$	1,349		$	113

Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets


	2022						2021
	U.S.		U.K.		Other		U.S.		U.K.		Other
Projected benefit obligation at end of year	$	939	$	5	$	278	$	5,096	$	7	$	476
Fair value of plan assets at end of year	$	713	$	—	$	145	$	4,710	$	—	$	245

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets


	2022						2021
	U.S.		U.K.		Other		U.S.		U.K.		Other
Projected benefit obligation at end of year	$	939	$	5	$	238	$	5,096	$	7	$	458
Accumulated benefit obligation at end of year	$	939	$	5	$	228	$	5,096	$	7	$	437
Fair value of plan assets at end of year	$	713	$	—	$	106	$	4,710	$	—	$	228

Schedule of Net Periodic Benefit Cost


	2022									2021									2020
	U.S.			U.K.			Other			U.S.			U.K.			Other			U.S.			U.K.			Other
Components of net periodic benefit (income)/cost:
Service cost	$	77		$	12		$	22		$	79		$	17		$	24		$	72		$	15		$	21
Interest cost		119			70			15			94			56			12			131			73			15
Expected return on plan assets		(331	)		(144	)		(38	)		(312	)		(170	)		(37	)		(291	)		(247	)		(34	)
Amortization of unrecognized prior service (credit)/cost		—			(12	)		1			—			(17	)		1			—			(17	)		—
Amortization of unrecognized actuarial loss		14			29			3			37			27			6			35			23			3
Settlement		4			1			(1	)		1			2			2			2			3			1
Curtailment gain		—			—			—			—			(1	)		—			—			—			—
Other		—			—			—			1			—			—			—			—			—
Net periodic benefit (income)/cost	$	(117	)	$	(44	)	$	2		$	(100	)	$	(86	)	$	8		$	(51	)	$	(150	)	$	6
Other changes in plan assets and benefit obligations recognized in other comprehensive (income)/loss:
Net actuarial (gain)/loss	$	(161	)	$	332		$	(59	)	$	(328	)	$	140		$	(61	)	$	198		$	151		$	35
Amortization of unrecognized actuarial loss		(14	)		(29	)		(3	)		(37	)		(27	)		(6	)		(35	)		(23	)		(3	)
Prior service cost		—			—			—			—			—			12			—			9			—
Amortization of unrecognized prior service credit/(cost)		—			12			(1	)		—			17			(1	)		—			17			—
Settlement		(4	)		(1	)		1			(1	)		(2	)		(2	)		(2	)		(3	)		(1	)
Curtailment gain		—			—			—			—			1			—			—			—			—
Plan (disposal)/addition		—			—			—			—			(34	)		8			—			—			—
Total recognized in other comprehensive (income)/loss		(179	)		314			(62	)		(366	)		95			(50	)		161			151			31
Total recognized in net periodic benefit (income)/cost and other comprehensive (income)/loss	$	(296	)	$	270		$	(60	)	$	(466	)	$	9		$	(42	)	$	110		$	1		$	37

Schedule of Assumptions Used

The assumptions used to determine net periodic benefit cost for the fiscal years ended December 31, 2022, 2021 and 2020 were as follows:


	Years ended December 31,
	2022			2021			2020
	U.S.	U.K.	Other	U.S.	U.K.	Other	U.S.	U.K.	Other
Discount rate - PBO	2.8%	1.9%	2.0%	2.5%	1.5%	1.7%	3.3%	2.0%	2.1%
Discount rate - service cost	3.0%	1.9%	2.4%	2.7%	1.6%	2.3%	3.4%	2.1%	2.5%
Discount rate - interest cost on service cost	2.5%	1.8%	2.2%	2.0%	1.4%	2.0%	2.8%	1.9%	2.4%
Discount rate - interest cost on PBO	2.4%	1.8%	1.8%	1.8%	1.2%	1.3%	2.8%	1.8%	1.9%
Expected long-term rate of return on assets	7.2%	3.0%	5.4%	7.2%	3.1%	5.4%	7.7%	5.0%	5.9%
Rate of increase in compensation levels	4.3%	3.4%	2.3%	4.3%	3.0%	2.3%	4.3%	3.0%	2.3%

The following tables present the assumptions used in the valuation to determine the projected benefit obligation for the fiscal years ended December 31, 2022 and 2021:


	December 31, 2022			December 31, 2021
	U.S.	U.K.	Other	U.S.	U.K.	Other
Discount rate	5.4%	5.0%	4.3%	2.8%	1.9%	2.0%
Rate of increase in compensation levels	4.3%	3.4%	2.4%	4.3%	3.4%	2.3%

Schedule of Allocation of Plan Assets

The Company’s pension plan asset target allocations as of December 31, 2022 were as follows (note the French plan is unfunded):


	U.S.		U.K.		Switzerland	Canada	Germany	Ireland
Asset Category	WTW	Willis	Willis	Towers Watson	WTW	WTW	WTW	Willis	Towers Watson
Equity securities	23%	30%	—%	1%	49%	40%	36%	29%	40%
Debt securities	33%	33%	28%	22%	18%	50%	61%	29%	30%
Real estate	6%	11%	—%	2%	28%	5%	—%	3%	—%
Other	38%	26%	72%	75%	5%	5%	3%	39%	30%
Total	100%	100%	100%	100%	100%	100%	100%	100%	100%

The fair values of our U.S. plan assets by asset category at December 31, 2022 and 2021 are as follows:


	December 31, 2022								December 31, 2021
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Asset category:
Cash	$	15	$	—	$	—	$	15	$	5	$	—	$	—	$	5
Short-term securities		—		89		—		89		—		65		—		65
Pooled/commingled funds		—		—		—		1,945		—		—		—		2,788
Private equity		—		—		—		612		—		—		—		537
Hedge funds		—		—		—		1,160		—		—		—		1,315
Total assets	$	15	$	89	$	—	$	3,821	$	5	$	65	$	—	$	4,710

The fair values of our U.K. plan assets by asset category at December 31, 2022 and 2021 are as follows:


	December 31, 2022								December 31, 2021
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Asset category:
Cash	$	125	$	—	$	—	$	125	$	389	$	—	$	—	$	389
Government bonds		1,267		—		—		1,267		2,610		—		—		2,610
Corporate bonds		—		335		—		335		—		504		—		504
Other fixed income		—		189		—		189		—		519		—		519
Pooled/commingled funds		—		—		—		1,255		—		—		—		1,537
Mutual funds		—		—		—		—		—		—		—		12
Private equity		—		—		—		20		—		—		—		25
Derivatives		—		229		—		229		—		226		—		226
Real estate		—		—		—		121		—		—		—		152
Insurance contracts		—		—		40		40		—		—		69		69
Total assets	$	1,392	$	753	$	40	$	3,581	$	2,999	$	1,249	$	69	$	6,043

Liability category:
Repurchase agreements		—		484		—		484		—		777		—		777
Derivatives		—		98		—		98		—		—		—		—
Net assets	$	1,392	$	171	$	40	$	2,999	$	2,999	$	472	$	69	$	5,266

The fair values of our Other plan assets by asset category at December 31, 2022 and 2021 are as follows:


	December 31, 2022								December 31, 2021
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Asset category:
Cash	$	3	$	—	$	—	$	3	$	4	$	—	$	—	$	4
Pooled/commingled funds		—		—		—		501		—		—		—		648
Hedge funds		—		—		—		32		—		—		—		43
Insurance contracts		—		—		5		5		—		—		7		7
Investment in multiple- employer pension plan		—		—		39		39		—		—		37		37
Total assets	$	3	$	—	$	44	$	580	$	4	$	—	$	44	$	739

Schedule of Net Plan Investments Reconciliation To Total Fair Value Of Plan Assets

The following table reconciles the net plan investments to the total fair value of the plan assets:


	December 31,
	2022		2021
Net assets held in investments	$	7,400	$	10,715
Net receivable for investments purchased		2		—
Fair value of plan assets	$	7,402	$	10,715

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets

The following table sets forth a summary of changes in the fair value of the plans’ Level 3 assets for the fiscal year ended December 31, 2022:


	Level 3 Roll Forward
Beginning balance at December 31, 2021	$	113
Purchases		5
Unrealized loss		(26	)
Foreign exchange		(8	)
Ending balance at December 31, 2022	$	84

Schedule of Projected Pension Contributions


	2023 (Projected)		2022 (Actual)		2021 (Actual)
U.S.	$	—	$	1	$	60
U.K.	$	31	$	32	$	41
Other	$	23	$	25	$	25

Schedule of Expected Benefit Payments

Expected benefit payments from our defined benefit pension plans to current plan participants, including the effects of their expected future service, as appropriate, are as follows:


	Benefit Payments
Fiscal Year	U.S.		U.K.		Other		Total
2023	$	270	$	126	$	33	$	429
2024		279		117		28		424
2025		285		119		29		433
2026		293		128		31		452
2027		297		133		33		463
Years 2028 – 2032		1,497		710		190		2,397
	$	2,921	$	1,333	$	344	$	4,598

Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Schedule of Lease


	December 31, 2022						December 31, 2021
	Operating Leases		Finance Leases		Total Leases		Operating Leases		Finance Leases		Total Leases
Right-of-use assets	$	586	$	4	$	590	$	720	$	6	$	726
Current lease liabilities		126		4		130		150		4		154
Long-term lease liabilities		620		12		632		734		15		749

Schedule of Amount Recorded in Consolidated Statements of Comprehensive Income

The following tables present amounts recorded on our consolidated statements of comprehensive income for the years ended December 31, 2022, 2021 and 2020:


	Years ended December 31,
	2022			2021			2020
Finance lease cost:
Amortization of right-of-use assets	$	2		$	1		$	2
Interest on lease liabilities		2			3			3
Operating lease cost		175			192			181
Short-term lease cost		—			1			1
Variable lease cost		71			52			53
Sublease income		(15	)		(20	)		(21	)
Total lease cost, net	$	235		$	229		$	219

Schedule of Cash Paid in the Measurement of Lease Liabilities


	Years ended December 31,
	2022		2021		2020
Cash flows from operating activities:
Operating leases	$	173	$	186	$	190
Finance leases		2		3		3
Cash flows used in financing activities:
Finance leases		4		3		3
Total lease payments	$	179	$	192	$	196

Schedule of Weighted Average Term and Discount Rates

Our operating and finance leases have the following weighted-average terms and discount rates as of December 31, 2022 and 2021:


	December 31, 2022						December 31, 2021
	Operating Leases			Finance Leases			Operating Leases			Finance Leases
Weighted-average term (in years)		6.9			3.1			7.5			4.1
Weighted-average discount rate		3.4	%		12.7	%		3.3	%		12.7	%

Schedule of Maturity of Operating and Finance Leases Liabilities


	Operating Leases			Finance Leases			Total Leases
2023	$	148		$	6		$	154
2024		136			6			142
2025		123			6			129
2026		103			1			104
2027		82			—			82
Thereafter		249			—			249
Total future lease payments		841			19			860
Interest		(95	)		(3	)		(98	)
Total lease liabilities	$	746		$	16		$	762

Supplementary Information for Certain Balance Sheet Accounts (Tables)

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Prepaid and Other Current Asset

Prepaid and other current assets consist of the following:


	December 31, 2022		December 31, 2021
Prepayments and accrued income	$	132	$	137
Short-term investments		—		200
Deferred contract costs		71		74
Derivatives and investments		43		35
Deferred compensation plan assets		16		19
Corporate income and other taxes		89		82
Acquired renewal commissions receivable		9		11
Other current assets		54		54
Total prepaid and other current assets	$	414	$	612

Schedule of Other Non-current Assets

Other non-current assets consist of the following:


	December 31, 2022		December 31, 2021
Prepayments and accrued income	$	10	$	11
Deferred contract costs		126		115
Deferred compensation plan assets		74		109
Deferred tax assets		68		79
Accounts receivable, net		9		23
Acquired renewal commissions receivable		29		52
Long-term note receivable		68		69
Other investments		90		55
Insurance recovery receivables		80		96
Non-current contract assets		745		532
Other non-current assets		58		61
Total other non-current assets	$	1,357	$	1,202

Deferred Revenue and Accrued Expenses

Deferred revenue and accrued expenses consist of the following:


	December 31, 2022		December 31, 2021
Accounts payable, accrued liabilities and deferred income	$	975	$	898
Accrued discretionary and incentive compensation		708		811
Accrued vacation		142		145
Other employee-related liabilities		90		72
Total deferred revenue and accrued expenses	$	1,915	$	1,926

Schedule of Other Current Liabilities

Other current liabilities consist of the following:


	December 31, 2022		December 31, 2021
Dividends payable	$	102	$	112
Income taxes payable		83		260
Interest payable		49		55
Deferred compensation plan liabilities		14		49
Contingent and deferred consideration on acquisitions		17		24
Accrued retirement benefits		32		65
Payroll and other benefits-related liabilities		225		230
Derivatives		4		—
Third-party commissions		124		101
Other current liabilities		66		119
Total other current liabilities	$	716	$	1,015

Provisions for Liabilities

Provision for liabilities consists of the following:


	December 31, 2022		December 31, 2021
Claims, lawsuits and other proceedings	$	296	$	311
Other provisions		61		64
Total provision for liabilities	$	357	$	375

Schedule of Other Non-current Liabilities

Other non-current liabilities consist of the following:


	December 31, 2022		December 31, 2021
Deferred compensation plan liability	$	74	$	109
Contingent and deferred consideration on acquisitions		29		27
Liabilities for uncertain tax positions		40		43
Finance leases		12		15
Other non-current liabilities		66		59
Total other non-current liabilities	$	221	$	253

Other Income, Net (Tables)

12 Months Ended

Dec. 31, 2022

Other Income and Expenses [Abstract]

Schedule of Other Nonoperating Income

Other income, net consists of the following:


	Years ended December 31,
	2022		2021		2020
Gain on disposal of operations (i)	$	7	$	379	$	81
Net periodic pension and postretirement benefit credits		272		303		304
Interest in earnings of associates and other investments		4		8		6
Foreign exchange gain (ii)		—		8		3
Other		5		3		2
Other income, net	$	288	$	701	$	396

(i)

For the year ended December 31, 2022, includes a $24 million non-cash revaluation gain related to an acquisition completed in stages.

(ii)

Includes the offsetting effects of the Company's foreign currency hedging program. See Note 10 — Derivative Financial Instruments.

Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Comprehensive Income (Loss)

The components of other comprehensive (loss)/income are as follows:


	December 31, 2022									December 31, 2021									December 31, 2020
	Before tax amount			Tax			Net of tax amount			Before tax amount			Tax			Net of tax amount			Before tax amount			Tax		Net of tax amount
Other comprehensive (loss)/income:
Foreign currency translation	$	(499	)	$	—		$	(499	)	$	(87	)	$	—		$	(87	)	$	139		$	—	$	139
Defined pension and post-retirement benefits		87			(22	)		65			343			(83	)		260			(342	)		76		(266	)
Derivative instruments		(6	)		4			(2	)		(1	)		3			2			(5	)		1		(4	)
Other comprehensive (loss)/income		(418	)		(18	)		(436	)		255			(80	)		175			(208	)		77		(131	)
Less: Other comprehensive loss/(income) attributable to non-controlling interests		1			—			1			(2	)		—			(2	)		(1	)		—		(1	)
Other comprehensive (loss)/income attributable to WTW	$	(417	)	$	(18	)	$	(435	)	$	253		$	(80	)	$	173		$	(209	)	$	77	$	(132	)

Schedule of Accumulated Other Comprehensive Income (Loss)


	Foreign currency translation			Derivative instruments (i)			Defined pension and post- retirement benefit costs (ii)			Total
Balance, January 1, 2020	$	(538	)	$	13		$	(1,702	)	$	(2,227	)
Other comprehensive income/(loss) before reclassifications		138			(12	)		(298	)		(172	)
Loss reclassified from accumulated other comprehensive loss (net of income tax benefit of $11)		—			8			32			40
Net other comprehensive income/(loss)		138			(4	)		(266	)		(132	)
Balance, December 31, 2020	$	(400	)	$	9		$	(1,968	)	$	(2,359	)
Other comprehensive (loss)/income before reclassifications		(133	)		9			191			67
Loss/(gain) reclassified from accumulated other comprehensive loss (net of income tax benefit of $12) (iii)		44			(7	)		69			106
Net other comprehensive (loss)/income		(89	)		2			260			173
Balance, December 31, 2021	$	(489	)	$	11		$	(1,708	)	$	(2,186	)
Other comprehensive (loss)/income before reclassifications		(498	)		(3	)		41			(460	)
Loss reclassified from accumulated other comprehensive loss (net of income tax benefit of $9)		—			1			24			25
Net other comprehensive (loss)/income		(498	)		(2	)		65			(435	)
Balance, December 31, 2022	$	(987	)	$	9		$	(1,643	)	$	(2,621	)

(i)

(ii)

(iii)

Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Compensation, Stock Options, Activity

A summary of option activity under the plans at December 31, 2022, and changes during the year then ended is presented below:


	Options (thousands)			Weighted- Average Exercise Price (i)		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value
Time-based stock options
Balance as of December 31, 2021		28		$	117.45
Exercised		(12	)	$	118.90
Cancelled		(1	)	$	117.92
Balance as of December 31, 2022		15		$	116.27	0.8 years	$	2
Options vested or expected to vest at December 31, 2022		15		$	116.27	0.8 years	$	2
Options exercisable at December 31, 2022		15		$	116.27	0.8 years	$	2
Performance-based stock options
Balance as of December 31, 2021		91		$	110.58
Exercised		(91	)	$	110.58
Balance as of December 31, 2022		—		$	—	N/A	$	—
Options vested or expected to vest at December 31, 2022		—		$	—	N/A	$	—
Options exercisable at December 31, 2022		—		$	—	N/A	$	—

(i)

Certain options are exercisable in Pounds sterling and are converted to dollars using the exchange rate at December 31, 2022.

Schedule of Assumptions

The assumptions noted in the table below represent the weighted average of each assumption for each grant during the year.


	Years ended December 31,
	2021			2020
Expected volatility		29.1	%		24.2	%
Expected dividend yield		—	%		—	%
Expected life (years)		2.9			2.9
Risk-free interest rate		0.3	%		0.4	%

Schedule of Share-based Compensation, Restricted Stock Units Award Activity

A summary of time-based and performance-based RSU activity under the plans at December 31, 2022, and changes during the year then ended, is presented below:


	Shares (thousands)			Weighted- Average Grant Date Fair Value
Time-based RSUs
Balance as of December 31, 2021		388		$	240.77
Granted		100		$	226.84
Vested		(35	)	$	242.82
Forfeited		(41	)	$	240.73
Balance as of December 31, 2022		412		$	237.23
Performance-based RSUs
Balance as of December 31, 2021		468		$	280.46
Granted		186		$	237.57
Vested		(32	)	$	302.69
Forfeited		(34	)	$	267.79
Balance as of December 31, 2022		588		$	266.39

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings Per Share

Basic and diluted earnings per share are as follows:


	Years ended December 31,
	2022			2021			2020
Income from continuing operations	$	1,064		$	2,156		$	762
Less: income attributable to non-controlling interests		(15	)		(14	)		(24	)
Income from continuing operations attributable to WTW	$	1,049		$	2,142		$	738

(Loss)/income from discontinued operations, net of tax	$	(40	)	$	2,080		$	258

Basic weighted-average number of shares outstanding		112			128			130
Dilutive effect of potentially issuable shares		—			1			—
Diluted weighted-average number of shares outstanding		112			129			130

Basic earnings per share from continuing operations attributable to WTW	$	9.36		$	16.68		$	5.69
Dilutive effect of potentially issuable shares		(0.02	)		(0.05	)		(0.02	)
Diluted earnings per share from continuing operations attributable to WTW	$	9.34		$	16.63		$	5.67

Basic (loss)/earnings per share from discontinued operations, net of tax	$	(0.36	)	$	16.20		$	1.99
Dilutive effect of potentially issuable shares		—			(0.05	)		(0.01	)
Diluted (loss)/earnings per share from discontinued operations, net of tax	$	(0.36	)	$	16.15		$	1.98

Supplemental Disclosures of Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 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 and non-cash investing and financing activities are as follows:


	As of and for the Years Ended December 31,
	2022			2021			2020
Supplemental disclosures of cash flow information:
Cash and cash equivalents	$	1,262		$	4,486		$	2,039
Fiduciary funds (included in fiduciary assets)		3,459			3,203			4,205
Cash and cash equivalents and fiduciary funds (included in current assets held for sale)		—			2			50
Other restricted cash (included in prepaids and other current assets)		—			—			7
Total cash, cash equivalents and restricted cash	$	4,721		$	7,691		$	6,301

(Decrease)/increase in cash, cash equivalents and other restricted cash	$	(3,177	)	$	2,425		$	1,180
Increase/(decrease) in fiduciary funds		371			(908	)		812
Total	$	(2,806	)	$	1,517		$	1,992

Cash payments for income taxes, net	$	428		$	570		$	310
Cash payments for interest	$	201		$	212		$	229
Cash acquired	$	30		$	5		$	10
Supplemental disclosures of non-cash investing and financing activities:
Non-cash consideration received	$	63		$	—		$	—
Fair value of deferred and contingent consideration related to acquisitions	$	28		$	21		$	9

Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2022

Quarterly Financial Information Disclosure [Abstract]

Summary of Retrospectively-adjusted Quarterly Financial Data


	Three Months Ended
	March 31,		June 30,		September 30,			December 31,
2021
Revenue	$	2,228	$	2,091	$	1,973		$	2,706
Total costs of providing services		2,017		1,921		842			2,016
Income from operations		211		170		1,131			690
Income from continuing operations		546		117		919			574
Income/(loss) from discontinued operations, net of tax		190		69		(12	)		1,833
Net income		736		186		907			2,407
Net income attributable to WTW		733		184		903			2,402
Earnings per share
— Basic: income from continuing operations	$	4.18	$	0.89	$	7.10		$	4.56
— Diluted: income from continuing operations	$	4.17	$	0.88	$	7.08		$	4.54

Nature of Operations (Details)	Dec. 31, 2022 Employee Country
Minority Interest [Line Items]
Number of employees employed (more than 44,000) \| Employee	46,000
Number of countries in which entity operates (more than 140) \| Country	140

Basis of Presentation, Significant Accounting Policies and Recent Accounting Pronouncements - Narrative (Details)		12 Months Ended
	Jul. 26, 2021 USD ($)	Dec. 31, 2022 USD ($) Unit	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Unencumbered and available funds required		$ 1,262,000,000	$ 4,486,000,000	$ 2,039,000,000
Restricted cash		$ 0	0	$ 7,000,000
Percentage of lease denominated in U.S. dollars, Pounds Sterling or Euros		90.00%
Number of reporting units \| Unit		7
Termination Of Proposed Combination With A O N Plc [Member] \| Contract Termination [Member]
Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Termination payment	$ 1,000,000,000		$ 1,000,000,000
Other [Member]
Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Portion of Revenue		6.00%	6.00%	6.00%
Reimbursed Expenses [Member]
Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Portion of Revenue		1.00%	1.00%	1.00%
Buildings [Member]
Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Useful life		50 years
Minimum [Member]
Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Percentage of entity voting rights		50.00%
Real estate lease term		3 years
Minimum [Member] \| Broking [Member]
Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Portion of Revenue		47.00%	47.00%	47.00%
Minimum [Member] \| Consulting [Member]
Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Portion of Revenue		32.00%	32.00%	32.00%
Minimum [Member] \| Outsourced administration [Member]
Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Portion of Revenue		12.00%	12.00%	12.00%
Minimum [Member] \| Internally developed software [Member]
Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Useful life		3 years
Minimum [Member] \| Furniture, equipment and software [Member]
Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Useful life		3 years
Minimum [Member] \| Willis Limited [Member]
Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Unencumbered and available funds required		$ 105,000,000
Unencumbered and available cash balance required		$ 66,000,000
Maximum [Member]
Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Real estate lease term		12 years
Term for renewal commissions expected		25 years
Maximum [Member] \| Broking [Member]
Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Portion of Revenue		48.00%	48.00%	48.00%
Maximum [Member] \| Consulting [Member]
Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Portion of Revenue		33.00%	33.00%	33.00%
Maximum [Member] \| Outsourced administration [Member]
Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Portion of Revenue		13.00%	13.00%	13.00%
Maximum [Member] \| Internally developed software [Member]
Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Useful life		10 years
Maximum [Member] \| Furniture, equipment and software [Member]
Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Useful life		10 years

Basis of Presentation, Significant Accounting Policies and Recent Accounting Pronouncements - Schedule of Acquired Intangible Assets Amortized (Details)	12 Months Ended
	Dec. 31, 2022
Minimum [Member] \| Client relationships [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Expected life	3 years
Minimum [Member] \| Software [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Expected life	5 years
Minimum [Member] \| Trademark and trade name [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Expected life	5 years
Minimum [Member] \| Other [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Expected life	5 years
Maximum [Member] \| Client relationships [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Expected life	21 years
Maximum [Member] \| Software [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Expected life	7 years
Maximum [Member] \| Trademark and trade name [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Expected life	25 years
Maximum [Member] \| Other [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Expected life	20 years

Acquisitions and Divestitures (Additional Information) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Consideration paid in cash	$ 111	$ 52	$ 79
Contingent consideration fair value	$ 28	$ 21	$ 9

Acquisitions and Divestitures - Divestment of Russian Business (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
Deconsolidation gain or loss amount	$ (57)
Impairment	$ 81	$ 81	$ 0	$ 0

Acquisitions and Divestitures - Willis Re Divestiture (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Aug. 13, 2021
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Preliminary pre-tax gain on sale		$ (59)	$ 2,679	$ 81
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		$ 45	4
Willis Re [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Total upfront cash consideration received from sale of subsidiary					$ 3,250
Preliminary pre-tax gain on sale	$ (60)		2,300
Fiduciary assets excluded from held-for-sale		3,200	2,600
Accounts receivable, net balances excluded from held-for-sale		29	71
Other current liabilities excluded from held for sale		$ 73	$ 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 ($) $ in Millions	3 Months Ended				12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Costs of providing services
Transaction and transformation, net					$ 181	$ (806)	$ 110
(Loss)/gain on disposal of Willis Re					(59)	2,679	81
(Loss)/income from discontinued operations, net of tax	$ 1,833	$ (12)	$ 69	$ 190	(40)	2,080	258
Willis Re [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Revenue from discontinued operations					48	721	737
Costs of providing services
Salaries and benefits					14	350	350
Other operating expenses					10	59	61
Depreciation and amortization					0	2	2
Transaction and transformation, net					0	33	0
Total costs of providing services					24	444	413
Other income, net					5	2	3
Income from discontinued operations before income taxes					29	279	327
(Loss)/gain on disposal of Willis Re					(65)	2,300	0
Benefit from/(provision for) income tax expense					1	(500)	(69)
Net income (payable to)/receivable from Gallagher on Deferred Closing					(5)	1	0
(Loss)/income from discontinued operations, net of tax					$ (40)	$ 2,080	$ 258

Acquisitions and Divestitures - Summary of Total Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Assets held for sale:
Total assets held for sale	$ 0	$ 6
Liabilities held for sale:
Total liabilities held for sale	$ 0	$ 6

Amount classified as assets attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer.

Amount classified as liabilities attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer.

Acquisitions and Divestitures - Miller Divestiture (Details) £ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 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	$ (59)	$ 2,679	$ 81
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 - Max Matthiessen Divestiture (Details) kr in Millions, $ in Millions	1 Months Ended	12 Months Ended
	Sep. 30, 2020 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Sep. 30, 2020 SEK (kr)	Sep. 30, 2020 USD ($)
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Tax exempt gain on sale		$ (59)	$ 2,679	$ 81
Max Matthiessen [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Total consideration received from sale of subsidiary					kr 2,300	$ 262
Notes receivable repayable by purchaser					kr 600	$ 68
Max Matthiessen [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	$ 86
Minimum [Member] \| Max Matthiessen [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Disposal group including discontinued operation notes payable interest rate	5.00%
Maximum [Member] \| Max Matthiessen [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Disposal group including discontinued operation notes payable interest rate	10.00%

Acquisitions and Divestitures - Other Disposals (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
Cash proceeds from other disposal	$ 1	$ 75	$ 30
Non-cash proceeds from other disposal	63	0	0
Gain on disposal	$ 64	$ 26	$ 18

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

3 Months Ended

12 Months Ended

Dec. 31, 2021

Sep. 30, 2021

Jun. 30, 2021

Mar. 31, 2021

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Revenue from Contract with Customer, Excluding Assessed Tax

$ 8,726

$ 8,826

$ 8,554

^[1]

^[2]

140

172

$ 2,706

$ 1,973

$ 2,091

$ 2,228

8,866

8,998

8,615

Revenue from Contract with Customer, Excluding Assessed Tax

5,312

5,291

4,941

^[1]

^[2]

5,351

5,328

4,959

Revenue from Contract with Customer, Excluding Assessed Tax

3,395

3,476

3,285

^[1]

^[2]

3,471

3,571

3,323

Revenue from Contract with Customer, Excluding Assessed Tax

323

^[1]

^[2]

^[3]

106

324

Corporate, Non-Segment

Revenue from Contract with Customer, Excluding Assessed Tax

^[1]

(12)

^[1]

(24)

(4)

^[1],[2]

^[1]

(7)

Broking [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

4,167

4,182

4,139

Broking [Member] | HWC [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

1,415

1,295

1,141

Broking [Member] | R&B [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

2,745

2,822

2,707

Broking [Member] | Divested Businesses [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

290

Broking [Member] | Corporate, Non-Segment

Revenue from Contract with Customer, Excluding Assessed Tax

^[1]

Consulting [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

2,902

2,936

2,756

Consulting [Member] | HWC [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

2,522

2,538

2,413

Consulting [Member] | R&B [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

370

384

336

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

1,054

1,134

1,109

Outsourced administration [Member] | HWC [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

979

1,046

1,028

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

526

531

483

Other [Member] | HWC [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

332

352

295

Other [Member] | R&B [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

194

175

154

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

8,649

8,783

8,487

Service | HWC [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

5,248

5,231

4,877

Service | R&B [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

3,384

3,469

3,278

Service | Divested Businesses [Member]

Revenue from Contract with Customer, Excluding Assessed Tax

323

Service | Corporate, Non-Segment

Revenue from Contract with Customer, Excluding Assessed Tax

^[1]

$ 17

$ 12

$ 9

[1]	Reimbursable expenses and other, as well as Corporate revenue, are excluded from segment revenue, but included in total revenue on the consolidated statements of comprehensive income. Amounts included in Corporate revenue may include eliminations, adjustments to reserves 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 and R&B, these amounts totaled $19 million and $52 million, respectively, for the year ended December 31, 2022. For the year ended December 31, 2021, for HWC and R&B, these amounts totaled $17 million and $82 million, respectively. Interest income comprised $55 million, $12 million and $18 million for the years ended December 31, 2022, 2021 and 2020, respectively. In 2022, the interest income earned by HWC, R&B and Corporate was $8 million, $25 million and $22 million, respectively.
[3]	Represents the revenue and income from operations of certain Investment, Risk and Reinsurance businesses which were divested in 2021 and 2020 and not classified as discontinued operations.

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

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

^[1]

$ 140

$ 172

$ 61

Corporate, Non-Segment [Member]

^[1],[2]

^[1]

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

^[1]

$ 38

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

$ 52

$ 82

[1]

[2]

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

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Revenue from Contract with Customer, Excluding Assessed Tax

$ 8,726

$ 8,826

$ 8,554

Service

Revenue from Contract with Customer, Excluding Assessed Tax

8,649

8,783

8,487

Operating Segments [Member] | Service

Revenue from Contract with Customer, Excluding Assessed Tax

8,649

8,783

8,487

Corporate, Non-Segment

Revenue from Contract with Customer, Excluding Assessed Tax

^[1]

(12)

Corporate, Non-Segment | Service

Revenue from Contract with Customer, Excluding Assessed Tax

^[1]

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

Revenue from Contract with Customer, Excluding Assessed Tax

4,904

4,776

4,550

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

Revenue from Contract with Customer, Excluding Assessed Tax

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

Revenue from Contract with Customer, Excluding Assessed Tax

2,802

3,055

3,068

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

Revenue from Contract with Customer, Excluding Assessed Tax

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

Revenue from Contract with Customer, Excluding Assessed Tax

943

952

869

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

Revenue from Contract with Customer, Excluding Assessed Tax

Revenue from Contract with Customer, Excluding Assessed Tax

5,312

5,291

4,941

HWC [Member] | Service

Revenue from Contract with Customer, Excluding Assessed Tax

5,248

5,231

4,877

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

Revenue from Contract with Customer, Excluding Assessed Tax

5,248

5,231

4,877

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

Revenue from Contract with Customer, Excluding Assessed Tax

3,569

3,456

3,287

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

Revenue from Contract with Customer, Excluding Assessed Tax

1,266

1,376

1,219

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

Revenue from Contract with Customer, Excluding Assessed Tax

413

399

371

Revenue from Contract with Customer, Excluding Assessed Tax

3,395

3,476

3,285

R&B [Member] | Service

Revenue from Contract with Customer, Excluding Assessed Tax

3,384

3,469

3,278

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

Revenue from Contract with Customer, Excluding Assessed Tax

3,384

3,469

3,278

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

Revenue from Contract with Customer, Excluding Assessed Tax

1,328

1,295

1,237

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

Revenue from Contract with Customer, Excluding Assessed Tax

1,527

1,623

1,549

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

Revenue from Contract with Customer, Excluding Assessed Tax

529

551

492

Revenue from Contract with Customer, Excluding Assessed Tax

323

Divested Businesses [Member] | Service

Revenue from Contract with Customer, Excluding Assessed Tax

323

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

Revenue from Contract with Customer, Excluding Assessed Tax

323

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

Revenue from Contract with Customer, Excluding Assessed Tax

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

Revenue from Contract with Customer, Excluding Assessed Tax

298

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

Revenue from Contract with Customer, Excluding Assessed Tax

$ 0

$ 1

$ 6

[1]

Revenue - Schedule of Contract Balances (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Billed Receivable, Current	$ 1,464	$ 1,504
Unbilled Receivable, Current	457	431
Contract asset, Current	466	435
Accounts receivable, net	2,387	2,370
Non-current accounts receivable, net	9	23
Non-current contract assets	745	532
Deferred revenue	$ 646	$ 576

Revenue - Schedule of Contract Balances (Parenthetical) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Allowance for doubtful debts	$ 46	$ 45

Revenue - Schedule of Changes in Allowance for Doubtful Accounts (Details) - Allowance for doubtful accounts [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Valuation And Qualifying Accounts Disclosure [Line Items]
Balance at beginning of year	$ 45	$ 40	$ 36
Additions charged to costs and expenses	14	16	28
Deductions/other movements	(20)	(18)	(27)
Foreign exchange	7	7	3
Balance at end of year	$ 46	$ 45	$ 40

Revenue - Narrative (Details) $ in Millions	12 Months Ended
Revenue - Narrative (Details) $ in Millions	Dec. 31, 2022 USD ($)
Disaggregation Of Revenue [Line Items]
Contract with Customer, Performance Obligation Satisfied in Previous Period	$ 25
December 31 2021 [Member]
Disaggregation Of Revenue [Line Items]
Contract with Customer, Liability, Revenue Recognized	$ 430

Revenue - Schedule of Remaining Performance Obligations (Details) $ in Millions	Dec. 31, 2022 USD ($)
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation	$ 1,816
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	$ 761
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	$ 489
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation	$ 566
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year

Revenue - Schedule of Remaining Performance Obligations (Details1) $ in Millions	Dec. 31, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation	$ 1,816

Revenue - Schedule of Capitalized and Deferred Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Capitalized Contract Cost [Abstract]
Capitalized Contract Cost, Net	$ 189	$ 191	$ 162
Capitalized Contract Cost, Additions	421	454	455
Capitalized Contract Cost, Amortization	(407)	(451)	(428)
Capitalized Contract Cost, Disposals	0	(4)	0
Capitalized Contract Cost, Impairment Loss	0	(1)	(1)
Capitalized Contract Cost, Foreign Exchange Translation Gain (Loss)	(6)	0	3
Capitalized Contract Cost, Net	$ 197	$ 189	$ 191

Segment Information - Narrative (Details) - Segment	12 Months Ended
Segment Information - Narrative (Details) - Segment	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Number of reportable segments	2
Revenue from Rights Concentration Risk [Member] \| Revenue Benchmark [Member] \| Minimum [Member]
Segment Reporting Information [Line Items]
Concentration risk percentage	10.00%	10.00%	10.00%

Segment Information - Revenue (Net of Reimbursable Expenses) of the Reported Segments (Details) - USD ($) $ in Millions	3 Months Ended				12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Revenues	$ 2,706	$ 1,973	$ 2,091	$ 2,228	$ 8,866	$ 8,998	$ 8,615
Income from operations	$ 690	$ 1,131	$ 170	$ 211	1,178	2,202	859
HWC [Member]
Segment Reporting Information [Line Items]
Revenues					5,351	5,328	4,959
R&B [Member]
Segment Reporting Information [Line Items]
Revenues					3,471	3,571	3,323
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues					8,747	8,832	8,211
Income from operations					2,116	2,181	1,950
Operating Segments [Member] \| HWC [Member]
Segment Reporting Information [Line Items]
Revenues					5,287	5,268	4,895
Income from operations					1,382	1,346	1,236
Operating Segments [Member] \| R&B [Member]
Segment Reporting Information [Line Items]
Revenues					3,460	3,564	3,316
Income from operations					$ 734	$ 835	$ 714

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

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

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
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Segment Information - Reconciliation of Information Reported by Segment to Consolidated Amounts (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Sep. 30, 2021

Jun. 30, 2021

Mar. 31, 2021

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Revenue:

Income/(loss) from operations

$ 2,706

$ 1,973

$ 2,091

$ 2,228

$ 8,866

$ 8,998

$ 8,615

Impairment

$ (81)

(81)

Amortization

(312)

(369)

(461)

Restructuring costs

(99)

(26)

(24)

$ 690

$ 1,131

$ 170

$ 211

1,178

2,202

859

INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES

(208)

(211)

(244)

Other income, net

288

701

396

1,258

2,692

1,011

Revenue:

Operating Segments [Member]

^[1]

106

324

Revenue:

Income/(loss) from operations

8,747

8,832

8,211

2,116

2,181

1,950

Segment Reconciling Items [Member]

Revenue:

Transaction and transformation, net

119

Divested businesses

^[1]

(24)

(13)

Impairment

^[2]

(81)

Amortization

(312)

(369)

(461)

Restructuring costs

^[3]

(99)

(26)

(24)

^[4]

(181)

806

(110)

Provision for significant litigation

^[5]

(65)

Unallocated, net

^[6]

(265)

(366)

(418)

Income/(loss) from operations

1,178

2,202

859

(208)

(211)

(244)

Other income, net

$ 288

$ 701

$ 396

[1]	Represents the revenue and income from operations of certain Investment, Risk and Reinsurance businesses which were divested in 2021 and 2020 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]	See Note 6 — Restructuring Costs for the composition of costs for 2022 and 2021. In 2020, restructuring costs related to minor restructuring activities carried out by various business lines throughout the Company.
[4]	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). For the year ended December 31, 2021, includes the $1 billion income receipt related to the termination of, and fees related to, the then-proposed Aon combination; includes transaction costs related to the then-proposed Aon combination in 2020.
[5]	Represents the recognition of settlement expense attributable to the Company's Merger-related securities litigation during the year ended December 31, 2020.
[6]	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 Consolidated Amounts (Parenthetical) (Details) - USD ($) $ in Billions		12 Months Ended
	Jul. 26, 2021	Dec. 31, 2021
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	$ 1

Segment Information - Revenue and Tangible Long-lived Assets by Geographical Areas (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2021

Sep. 30, 2021

Jun. 30, 2021

Mar. 31, 2021

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

$ 2,706

$ 1,973

$ 2,091

$ 2,228

$ 8,866

$ 8,998

$ 8,615

^[1]

1,571

1,304

1,571

Ireland [Member]

130

197

157

^[1]

United States [Member]

4,760

4,621

4,359

^[1]

562

465

562

United Kingdom [Member]

1,563

1,632

1,604

^[1]

605

496

605

Rest of World [Member]

2,413

2,548

2,495

Total Foreign Countries [Member]

^[1]

401

332

401

8,736

8,801

$ 8,458

^[1]

$ 1,568

$ 1,293

$ 1,568

[1]	Tangible long-lived assets consist of fixed assets and ROU assets.

Movement in Property, Plant and Equipment [Roll Forward]

Restructuring Costs - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Transaction and transformation, net		$ 181	$ (806)	$ 110
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		$ 136	$ 0
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	12 Months Ended		15 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Total			$ 125
Real Estate Rationalization [Member]
Restructuring Cost and Reserve [Line Items]
Total	$ 79	$ 19	98
Process Optimization [Member]
Restructuring Cost and Reserve [Line Items]
Total	1		1
Technology Modernization [Member]
Restructuring Cost and Reserve [Line Items]
Total	19	5	24
Other [Member]
Restructuring Cost and Reserve [Line Items]
Total		2	2
Corporate, Non-Segment
Restructuring Cost and Reserve [Line Items]
Total			116
Corporate, Non-Segment \| Real Estate Rationalization [Member]
Restructuring Cost and Reserve [Line Items]
Total	79	19	98
Corporate, Non-Segment \| Technology Modernization [Member]
Restructuring Cost and Reserve [Line Items]
Total	16		16
Corporate, Non-Segment \| Other [Member]
Restructuring Cost and Reserve [Line Items]
Total		2	2
HWC [Member]
Restructuring Cost and Reserve [Line Items]
Total			1
HWC [Member] \| Process Optimization [Member]
Restructuring Cost and Reserve [Line Items]
Total	1		1
R&B [Member]
Restructuring Cost and Reserve [Line Items]
Total			8
R&B [Member] \| Technology Modernization [Member]
Restructuring Cost and Reserve [Line Items]
Total	$ 3	$ 5	$ 8

Restructuring Costs - Rollforward of Liability Associated with Cash-based Charges (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Charges incurred		$ 99	$ 26	$ 24
Transformation Program [Member]
Restructuring Cost and Reserve [Line Items]
Beginning Balance	$ 0	1
Charges incurred	2	28
Cash payments	(1)	(23)
Ending Balance	1	6	1
Transformation Program [Member] \| Real Estate Rationalization [Member]
Restructuring Cost and Reserve [Line Items]
Charges incurred		27
Cash payments		(21)
Ending Balance		6
Transformation Program [Member] \| Other [Member]
Restructuring Cost and Reserve [Line Items]
Beginning Balance	0	1
Charges incurred	2
Cash payments	(1)	(1)
Ending Balance	$ 1	0	$ 1
Transformation Program [Member] \| Process Optimization [Member]
Restructuring Cost and Reserve [Line Items]
Charges incurred		1
Cash payments		$ (1)

Income Taxes - Income (Loss) from Operations Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income from Continuing Operations before Income Taxes and Interest in Earnings of Associates [Line Items]
INCOME FROM OPERATIONS BEFORE INCOME TAXES AND INTEREST IN EARNINGS OF ASSOCIATES	$ 1,258	$ 2,692	$ 1,011
Revenue Commissioners, Ireland [Member] \| Domestic Tax Authority [Member]
Income from Continuing Operations before Income Taxes and Interest in Earnings of Associates [Line Items]
INCOME FROM OPERATIONS BEFORE INCOME TAXES AND INTEREST IN EARNINGS OF ASSOCIATES	(160)	673	(5)
Internal Revenue Service (IRS) [Member] \| Foreign Tax Authority [Member]
Income from Continuing Operations before Income Taxes and Interest in Earnings of Associates [Line Items]
INCOME FROM OPERATIONS BEFORE INCOME TAXES AND INTEREST IN EARNINGS OF ASSOCIATES	394	516	(97)
Her Majesty's Revenue and Customs (HMRC) [Member] \| Foreign Tax Authority [Member]
Income from Continuing Operations before Income Taxes and Interest in Earnings of Associates [Line Items]
INCOME FROM OPERATIONS BEFORE INCOME TAXES AND INTEREST IN EARNINGS OF ASSOCIATES	142	552	184
Rest of World [Member] \| Foreign Tax Authority [Member]
Income from Continuing Operations before Income Taxes and Interest in Earnings of Associates [Line Items]
INCOME FROM OPERATIONS BEFORE INCOME TAXES AND INTEREST IN EARNINGS OF ASSOCIATES	$ 882	$ 951	$ 929

Income Taxes - Provision for benefit from income taxes from continuing operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current tax expense:
U.S. federal taxes	$ (103)	$ (79)	$ (3)
U.S. state and local taxes	(39)	(25)	3
U.K. corporation tax	(13)	(33)	(16)
Other jurisdictions	(93)	(303)	(134)
Total current tax expense	(248)	(440)	(150)
Deferred tax (expense)/benefit:
U.S. federal taxes	52	(41)	(79)
U.S. state and local taxes	(5)	3	0
U.K. corporation tax	(7)	(65)	(48)
Other jurisdictions	14	7	28
Total deferred tax (expense)/benefit	54	(96)	(99)
Total provision for income taxes	$ (194)	$ (536)	$ (249)

Income Taxes - Effective Tax Rate Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	$ 1,258	$ 2,692	$ 1,011
U.S. federal statutory income tax rate	21.00%	21.00%	21.00%
Income tax expense at U.S. federal tax rate	$ (264)	$ (565)	$ (212)
Non-deductible expenses and dividends	(25)	(21)	(19)
Net adjustments on acquisition costs	(4)	13	(15)
Impact of change in rate on deferred tax balances	(1)	(36)	(7)
Effect of foreign exchange and other differences	28	0	(4)
Changes in valuation allowances	1	2	(8)
Net tax effect on intra-group items	84	84	90
Net tax effect on disposal of operations	1	62	16
Tax differentials of non-U.S. jurisdictions	20	(24)	(2)
Impact of U.S. state and local taxes	(42)	(23)	4
Global Intangible Low-Taxed Income (GILTI)	(10)	(4)	(3)
Base Erosion Anti-Abuse Tax (BEAT)	24	(22)	(83)
Tax on unremitted earnings	14
Other items, net	8	(2)	(6)
Total provision for income taxes	$ (194)	$ (536)	$ (249)

Income Taxes - Deferred Tax Assets (Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Accrued expenses not currently deductible	$ 69	$ 72
Interest carryforwards	174	91
Net operating losses	44	71
Capital loss carryforwards	1	1
Accrued retirement benefits	85	189
Operating lease liabilities	125	153
Deferred compensation	97	92
Stock options	18	22
Financial derivative transactions	4	1
Gross deferred tax assets	617	692
Less: valuation allowance	(28)	(42)
Net deferred tax assets	589	650
Deferred tax liabilities:
Cost of intangible assets, net of related amortization	679	735
Operating lease right-of-use assets	106	142
Cost of tangible assets, net of related depreciation	44	95
Prepaid retirement benefits	142	228
Accrued revenue not currently taxable	262	194
Unremitted earnings	36	22
Deferred tax liabilities	1,269	1,416
Net deferred tax liabilities	$ 680	$ 766

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Loss Carryforwards [Line Items]
Income Tax Expense Benefit	$ 194	$ 536	$ 249
U.S. statutory tax rate	21.00%	21.00%	21.00%
Net operating losses	$ 44	$ 71
Deferred Tax Assets, Net of Valuation Allowance	589	650
Increase (decrease) in valuation allowance	(14)	(42)	$ 8
Valuation allowance	28	42
Unrecognized tax benefits	47	43	50	$ 49
Undistributed earnings	16,500
Reduction in liability for unrecognized tax benefits	3	3	3
Interest on income taxes accrued	5
Continuing Operation [Member]
Operating Loss Carryforwards [Line Items]
Tax expense includes in interest expense	1	1
BEAT [Member] \| Tax Year 2019 and 2020 [Member]
Operating Loss Carryforwards [Line Items]
Income Tax Expense Benefit	(34)
Termination Payment [Member]
Operating Loss Carryforwards [Line Items]
Income Tax Expense Benefit		250
Foreign exchange remeasurement on income tax account balances
Operating Loss Carryforwards [Line Items]
Income Tax Expense Benefit	(22)
Remeasurement of Deferred Tax Assets and Liabilities [Member]
Operating Loss Carryforwards [Line Items]
Income Tax Expense Benefit		$ 40
Reinvested Indefinitely [Member]
Operating Loss Carryforwards [Line Items]
Undistributed earnings	9,300
Untaxable Manner [Member]
Operating Loss Carryforwards [Line Items]
Undistributed earnings	7,200
CARES [Member] \| BEAT [Member] \| Tax Year 2019 [Member]
Operating Loss Carryforwards [Line Items]
Income Tax Expense Benefit			$ 29
U.S. State [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards, valuation allowance	10
Non-US [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards, valuation allowance	14
Discontinued Operations [Member]
Operating Loss Carryforwards [Line Items]
Unrecognized tax benefits	6
State and Local [Member] \| United States [Member]
Operating Loss Carryforwards [Line Items]
Net operating losses	432
Operating loss carryforwards, not subject to expiration	31
State and Local [Member] \| United States [Member] \| Tax Year 2023 Through 2042 [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards, subject to expiration	401
U.S. Federal and Non-U.S. [Member]
Operating Loss Carryforwards [Line Items]
Net operating losses	113
Operating loss carryforwards, not subject to expiration	61
U.S. Federal and Non-U.S. [Member] \| Tax Year 2022 Through 2041 [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards, subject to expiration	$ 52
Revenue Commissioners, Ireland [Member] \| Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Foreign statutory income tax rate	25.00%
Minimum [Member]
Operating Loss Carryforwards [Line Items]
Expected decrease in liability for uncertain tax position	$ 3
Minimum [Member] \| Her Majesty's Revenue and Customs (HMRC) [Member]
Operating Loss Carryforwards [Line Items]
Foreign statutory tax rate		19.00%
Maximum [Member]
Operating Loss Carryforwards [Line Items]
Expected decrease in liability for uncertain tax position	$ 5
Maximum [Member] \| Her Majesty's Revenue and Customs (HMRC) [Member]
Operating Loss Carryforwards [Line Items]
Foreign statutory tax rate		25.00%

Income Taxes - Deferred Tax Liabilities, Balance Sheet Classification (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Tax Credit Carryforward [Line Items]
Other non-current assets	$ 589	$ 650
Deferred tax liabilities	1,269	1,416
Net deferred tax liabilities	680	766
Other Non-current Assets [Member]
Tax Credit Carryforward [Line Items]
Other non-current assets	68	79
Deferred Tax Liabilities [Member]
Tax Credit Carryforward [Line Items]
Deferred tax liabilities	$ 748	$ 845

Income Taxes - Valuation Allowance (Details) - Valuation Allowance of Deferred Tax Assets [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of year	$ 42	$ 84	$ 76
Additions charged to costs and expenses	8	3	17
Deductions	(22)	(45)	(9)
Balance at end of year	$ 28	$ 42	$ 84

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ 43	$ 50	$ 49
Increases related to acquisitions	0	0	4
Increases related to tax positions in prior years	16	0	1
Decreases related to tax positions in prior years	(2)	0	0
Decreases related to settlements	(1)	0	(3)
Decreases related to lapse in statute of limitations	(6)	(6)	(2)
Cumulative translation adjustment and other adjustments	(3)	(1)	1
Balance at end of year	$ 47	$ 43	$ 50

Income Taxes - Summary of Tax Years that Remain Open to Tax Examination in Major Tax Jurisdictions (Details)	12 Months Ended
	Dec. 31, 2022
U.S. - Federal [Member]
Income Tax Contingency [Line Items]
Open Tax Years	2018 and forward
State and Local [Member]
Income Tax Contingency [Line Items]
Open Tax Years	2015 and forward
Foreign Tax Authority [Member] \| United Kingdom [Member]
Income Tax Contingency [Line Items]
Open Tax Years	2014 and forward
Foreign Tax Authority [Member] \| Ireland [Member]
Income Tax Contingency [Line Items]
Open Tax Years	2018 and forward
Foreign Tax Authority [Member] \| France [Member]
Income Tax Contingency [Line Items]
Open Tax Years	2017 and forward
Foreign Tax Authority [Member] \| Germany [Member]
Income Tax Contingency [Line Items]
Open Tax Years	2008 and forward
Foreign Tax Authority [Member] \| Canada - Federal [Member]
Income Tax Contingency [Line Items]
Open Tax Years	2015 and forward

Fixed Assets - Components of Fixed Assets (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

$ 2,092

$ 2,134

198

194

(207)

^[1]

(208)

^[2]

(97)

(28)

Movement in Accumulated Depreciation, Depletion and Amortization, Property, Plant and Equipment [Roll Forward]

1,987

2,092

(1,241)

(1,121)

(255)

(281)

170

146

(1,269)

(1,241)

Furniture, equipment and software [Member]

718

851

Movement in Property, Plant and Equipment [Roll Forward]

1,477

1,467

174

176

(129)

^[1]

(145)

^[2]

(71)

(21)

Movement in Accumulated Depreciation, Depletion and Amortization, Property, Plant and Equipment [Roll Forward]

1,452

1,477

(877)

(764)

(211)

(227)

113

103

(933)

(877)

Leasehold Improvements [Member]

519

600

Movement in Property, Plant and Equipment [Roll Forward]

527

577

(78)

^[1]

(61)

^[2]

(21)

(7)

Movement in Accumulated Depreciation, Depletion and Amortization, Property, Plant and Equipment [Roll Forward]

452

527

(301)

(295)

(40)

(51)

(272)

(301)

Land and Building [Member]

180

226

Movement in Property, Plant and Equipment [Roll Forward]

^[1]

(2)

^[2]

(5)

Movement in Accumulated Depreciation, Depletion and Amortization, Property, Plant and Equipment [Roll Forward]

(63)

(62)

(4)

(3)

(64)

(63)

$ 19

$ 25

[1]	Includes $12 million of furniture, equipment and software costs and $18 million of leasehold improvements costs which have been written off as part of technology modernization and real estate rationalization, respectively, under the Transformation program (see Note 6 – Restructuring Costs).
[2]	Includes $5 million of furniture, equipment and software costs and $4 million of leasehold improvements costs which have been written off as part of technology modernization and real estate rationalization, respectively, under the Transformation program (see Note 6 – Restructuring Costs).

Fixed Assets - Components of Fixed Assets (Parenthetical) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Furniture, equipment and software [Member]
Property,Plant and Equipment [LineItems]
Cost	$ 12	$ 5
Leasehold Improvements [Member]
Property,Plant and Equipment [LineItems]
Cost	$ 18	$ 4

Fixed Assets - Assets Held Under Finance Leases (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Finance leases	$ 26	$ 26
Accumulated depreciation	(22)	(20)
Net book value	$ 4	$ 6

Goodwill and Other Intangible Assets - Components of Goodwill (Details) - USD ($)

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

$ 10,675,000,000

$ 10,884,000,000

(492,000,000)

10,183,000,000

10,392,000,000

104,000,000

51,000,000

(18,000,000)

(200,000,000)

(96,000,000)

(60,000,000)

10,665,000,000

10,675,000,000

(492,000,000)

10,173,000,000

10,183,000,000

7,904,000,000

7,893,000,000

(130,000,000)

7,774,000,000

7,763,000,000

43,000,000

(34,000,000)

(32,000,000)

7,870,000,000

7,904,000,000

(130,000,000)

7,740,000,000

7,774,000,000

2,771,000,000

2,798,000,000

(362,000,000)

2,409,000,000

2,436,000,000

104,000,000

8,000,000

(18,000,000)

(7,000,000)

(62,000,000)

(28,000,000)

2,795,000,000

2,771,000,000

(362,000,000)

2,433,000,000

2,409,000,000

^[1]

193,000,000

^[1]

^[1]

193,000,000

^[1]

^[1]

(193,000,000)

^[1]

^[1]

^[1]

^[1]

$ 0

[1]	Represents goodwill associated with certain Investment, Risk and Reinsurance businesses which were divested in 2021.

Goodwill and Other Intangible Assets - Changes in the Net Carrying Amount of the Components of Finite-Lived Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Finite-lived Intangible Assets [Roll Forward]
Finite-lived intangible assets, gross carrying amount	$ 5,621	$ 5,677	$ 5,930
Finite-lived intangible assets, accumulated amortization	(3,348)	(3,122)	(2,941)
Finite-lived intangible assets, net amount	2,273	2,555	2,989
Intangible assets acquired	72	14
Intangible asset disposals	(6)	(55)
Amortization	(312)	(369)	(461)
Foreign exchange	(36)	(24)
Client relationships [Member]
Finite-lived Intangible Assets [Roll Forward]
Finite-lived intangible assets, gross carrying amount	3,760	3,794	4,012
Finite-lived intangible assets, accumulated amortization	(2,282)	(2,118)	(2,028)
Finite-lived intangible assets, net amount	1,478	1,676	1,984
Intangible assets acquired	67	14
Intangible asset disposals	(1)	(47)
Amortization	(230)	(250)
Foreign exchange	(34)	(25)
Software [Member]
Finite-lived Intangible Assets [Roll Forward]
Finite-lived intangible assets, gross carrying amount	725	742	761
Finite-lived intangible assets, accumulated amortization	(712)	(701)	(659)
Finite-lived intangible assets, net amount	13	41	102
Intangible assets acquired	4	0
Intangible asset disposals	0	0
Amortization	(31)	(61)
Foreign exchange	(1)	0
Trademark and trade name [Member]
Finite-lived Intangible Assets [Roll Forward]
Finite-lived intangible assets, gross carrying amount	1,038	1,039	1,054
Finite-lived intangible assets, accumulated amortization	(298)	(257)	(220)
Finite-lived intangible assets, net amount	740	782	834
Intangible assets acquired	1	0
Intangible asset disposals	0	(8)
Amortization	(42)	(43)
Foreign exchange	(1)	(1)
Other [Member]
Finite-lived Intangible Assets [Roll Forward]
Finite-lived intangible assets, gross carrying amount	98	102	103
Finite-lived intangible assets, accumulated amortization	(56)	(46)	(34)
Finite-lived intangible assets, net amount	42	56	$ 69
Intangible assets acquired	0	0
Intangible asset disposals	(5)	0
Amortization	(9)	(15)
Foreign exchange	$ 0	$ 2

Goodwill and Other Intangible Assets - Narrative (Details)	12 Months Ended
	Dec. 31, 2022
Finite-lived Intangible Assets [Roll Forward]
Weighted average remaining life of amortizable intangible assets and liabilities	12 years 3 months 18 days

Goodwill and Other Intangible Assets - Schedule of Future Estimated Amortization Expense for Amortizable Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
2023	$ 263
2024	230
2025	209
2026	201
2027	197
Thereafter	1,173
Total	$ 2,273	$ 2,555	$ 2,989

Derivative Financial Instruments - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Losses on derivatives to be reclassified within the next twelve months	$ (2)
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	$ 1,700	$ 2,900
Derivative asset, fair values	24	15
Cash Flow Hedging [Member] \| Designated as Hedging Instrument [Member] \| Foreign exchange contracts [Member]
Derivative [Line Items]
Derivative, notional amount	$ 134	$ 155
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent
Derivative liability, fair values	$ 3
Derivative Asset, Statement of Financial Position [Extensible Enumeration]		Other Assets, Noncurrent
Derivative asset, fair values		$ 3

Derivative Financial Instruments - Schedule of Derivative Instruments Designated As Hedging Instrument Effect on Condensed Consolidated Statements of Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative [Line Items]
(Loss)/gain recognized in OCL (effective element)	$ (2)	$ 2	$ (4)
Cash Flow Hedging [Member] \| Designated as Hedging Instrument [Member] \| Foreign exchange contracts [Member]
Derivative [Line Items]
(Loss)/gain recognized in OCL (effective element)	(8)	5	(13)
Gain/(loss) reclassified from Accumulated OCL into income (effective element)	$ (2)	$ 6	$ (9)
Cash Flow Hedging [Member] \| Designated as Hedging Instrument [Member] \| Foreign exchange contracts [Member] \| Revenue [Member]
Derivative [Line Items]
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	Revenues	Revenues	Revenues
Gain/(loss) reclassified from Accumulated OCL into income (effective element)	$ 2	$ (3)	$ (5)
Cash Flow Hedging [Member] \| Designated as Hedging Instrument [Member] \| Foreign exchange contracts [Member] \| Salaries and Benefits [Member]
Derivative [Line Items]
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	Labor and Related Expense	Labor and Related Expense	Labor and Related Expense
Gain/(loss) reclassified from Accumulated OCL into income (effective element)	$ (4)	$ 6	$ (3)
Cash Flow Hedging [Member] \| Designated as Hedging Instrument [Member] \| Foreign exchange contracts [Member] \| Discontinued Operations [Member]
Derivative [Line Items]
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	INCOME FROM DISCONTINUED OPERATIONS, NET OF TAX	INCOME FROM DISCONTINUED OPERATIONS, NET OF TAX	INCOME FROM DISCONTINUED OPERATIONS, NET OF TAX
Gain/(loss) reclassified from Accumulated OCL into income (effective element)	$ 0	$ 3	$ (1)

Derivative Financial Instruments - Schedule Of Derivative Instruments, Effect on Condensed Consolidated Statements of Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other income, net [Member] \| Not Designated as Hedging Instrument [Member] \| Foreign exchange contracts [Member]
Derivative [Line Items]
(Loss)/gain recognized in income	$ (147)	$ 0	$ (3)

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

12 Months Ended

Dec. 31, 2022

EUR (€)

Dec. 31, 2021

USD ($)

Dec. 31, 2022

USD ($)

May 19, 2022

Oct. 06, 2021

USD ($)

Sep. 10, 2018

Current debt

$ 613,000,000

$ 250,000,000

Revolving Credit Facility [Member]

3,974,000,000

4,471,000,000

Maximum borrowing capacity

$ 1,500,000,000

Revolving 1.5 Billion Dollar Credit Facility [Member] | Revolving Credit Facility [Member]

Maximum borrowing capacity

1,500,000,000

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

Maximum borrowing capacity

1,250,000,000

2.125% senior notes due 2022 [Member]

Long-term debt, excluding current maturities | €

Current debt

^[1]

$ 613,000,000

$ 0

€ 540

2.125%

4.625% senior notes due 2023 [Member]

2022

Current debt

$ 0

$ 250,000,000

$ 249,000,000

$ 0

4.625%

3.600% senior notes due 2024 [Member]

2023

$ 648,000,000

$ 649,000,000

3.60%

4.400% senior notes due 2026 [Member]

2024

$ 546,000,000

$ 547,000,000

4.40%

4.650% senior notes due 2027 [Member]

2026

$ 0

$ 744,000,000

4.65%

4.500% senior notes due 2028 [Member]

2027

$ 597,000,000

4.50%

2.950% senior notes due 2029 [Member]

2028

$ 726,000,000

2.95%

6.125% senior notes due 2043 [Member]

2029

$ 271,000,000

6.125%

5.050% senior notes due 2048 [Member]

2043

$ 395,000,000

5.05%

3.875% senior notes due 2049 [Member]

2048

$ 542,000,000

3.875%

2049

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

Debt - Narrative (Details) € in Millions														12 Months Ended
Debt - Narrative (Details) € in Millions	May 19, 2022 EUR (€)	May 19, 2022 USD ($)	Oct. 06, 2021 USD ($)	May 29, 2020 USD ($)	Sep. 10, 2019 USD ($)	Jul. 30, 2019 USD ($)	Sep. 10, 2018 USD ($)	May 16, 2017 USD ($)	May 26, 2016 EUR (€)	May 26, 2016 USD ($)	Mar. 22, 2016 USD ($)	Aug. 15, 2013 USD ($)	Mar. 11, 2011 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2019	Dec. 31, 2021	Nov. 30, 2021 USD ($)	Mar. 07, 2017 USD ($)	May 26, 2016 USD ($)	Mar. 15, 2016
Debt Instrument [Line Items]
Description of interest accrual date							Interest has accrued on both the 2028 senior notes and 2048 senior notes from September 10, 2018 and is paid in cash on March 15 and September 15 of each year.
Proceeds from debt, net of issuance costs							$ 989,000,000
Debt instrument, term						1 year
Borrowings														$ 6,756,000,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 1,500,000,000
Term Loan Facility [Member]
Debt Instrument [Line Items]
Line of credit maturity date				Jul. 31, 2020
Repayment of debt				$ 175,000,000
Term Loan Due 2019 [Member]
Debt Instrument [Line Items]
Prepayment of outstanding debt							$ 127,000,000
Line of Credit [Member] \| Revolving Credit Facility [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Commitment fee percentage			0.09%
Line of Credit [Member] \| Revolving Credit Facility [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Commitment fee percentage			0.25%
Senior Notes [Member]
Debt Instrument [Line Items]
Description of interest accrual date					Interest on the 2019 senior notes offering has accrued from September 10, 2019 and is paid in cash on March 15 and September 15 of each year.
Proceeds from debt, net of issuance costs		$ 744,000,000			$ 988,000,000
Borrowings														$ 4,750,000,000
5.750% senior notes due 2021 [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Stated interest rate													5.75%
Debt instrument, face amount													$ 500,000,000
Effective interest rate (as a percent)													5.871%
Maturity date													Mar. 31, 2021
3.600% senior notes due 2024 [Member]
Debt Instrument [Line Items]
Stated interest rate														3.60%		3.60%
3.600% senior notes due 2024 [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Stated interest rate								3.60%
Debt instrument, face amount								$ 650,000,000
Effective interest rate (as a percent)								3.614%
Maturity date								May 15, 2024
Description of interest accrual date								interest has accrued on the 2024 senior notes from May 16, 2017 and is paid in cash on May 15 and November 15 of each year.
Proceeds from debt, net of issuance costs								$ 644,000,000
4.500% senior notes due 2028 [Member]
Debt Instrument [Line Items]
Stated interest rate							4.50%							4.50%		4.50%
Debt instrument, face amount							$ 600,000,000
Effective interest rate (as a percent)							4.504%
Maturity date							Sep. 15, 2028
2.950% senior notes due 2029 [Member]
Debt Instrument [Line Items]
Stated interest rate														2.95%		2.95%
2.950% senior notes due 2029 [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Stated interest rate				2.95%	2.95%
Debt instrument, face amount				$ 275,000,000	$ 450,000,000
Effective interest rate (as a percent)				2.697%	2.971%
Maturity date				Sep. 15, 2029	Sep. 15, 2029
Description of interest accrual date				Interest on the additional 2029 senior notes has accrued from March 15, 2020 and is paid in cash on March 15 and September 15 of each year.
5.050% senior notes due 2048 [Member]
Debt Instrument [Line Items]
Stated interest rate							5.05%							5.05%		5.05%
Debt instrument, face amount							$ 400,000,000
Effective interest rate (as a percent)							5.073%
Maturity date							Sep. 15, 2048
3.875% senior notes due 2049 [Member]
Debt Instrument [Line Items]
Stated interest rate														3.875%		3.875%
3.875% senior notes due 2049 [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Stated interest rate					3.875%
Debt instrument, face amount					$ 550,000,000
Effective interest rate (as a percent)					3.898%
Maturity date					Sep. 15, 2049
4.625% senior notes due 2023 [Member]
Debt Instrument [Line Items]
Stated interest rate														4.625%		4.625%
4.625% senior notes due 2023 [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Stated interest rate												4.625%
Debt instrument, face amount												$ 250,000,000
Effective interest rate (as a percent)												4.696%
Maturity date												Aug. 15, 2023
6.125% senior notes due 2043 [Member]
Debt Instrument [Line Items]
Stated interest rate														6.125%		6.125%
6.125% senior notes due 2043 [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Stated interest rate												6.125%
Debt instrument, face amount												$ 275,000,000
Effective interest rate (as a percent)												6.154%
Maturity date												Aug. 15, 2043
3.500% senior notes due 2021 [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Stated interest rate											3.50%
Debt instrument, face amount											$ 450,000,000
Effective interest rate (as a percent)											3.707%
Maturity date											Sep. 15, 2021
4.400% senior notes due 2026 [Member]
Debt Instrument [Line Items]
Stated interest rate														4.40%		4.40%
4.400% senior notes due 2026 [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Stated interest rate											4.40%
Debt instrument, face amount											$ 550,000,000
Effective interest rate (as a percent)											4.572%
Maturity date											Mar. 15, 2026
4.650% senior notes due 2027 [Member]
Debt Instrument [Line Items]
Stated interest rate														4.65%		4.65%
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
4.650% senior notes due 2027 [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Stated interest rate		4.65%
Debt instrument, face amount		$ 750,000,000
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%		2.125%
Repayment of debt	€ 540	$ 582,000,000
2.125% senior notes due 2022 [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Stated interest rate									2.125%										2.125%
Effective interest rate (as a percent)									2.154%										2.154%
Maturity date									May 26, 2022	May 26, 2022
Description of interest accrual date									Interest had accrued on the notes from May 26, 2016 and was paid in cash on May 26 of each year	Interest had accrued on the notes from May 26, 2016 and was paid in cash on May 26 of each year
Proceeds from long-term debt issuance									€ 535	$ 600,000,000
2.125% senior notes due 2022 [Member] \| Senior Notes [Member] \| Trinity Acquisition plc [Member]
Debt Instrument [Line Items]
Debt instrument, face amount									€ 540										$ 609,000,000
Revolving 1.25 Billion Dollar Credit Facility [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity														$ 1,250,000,000
Repayment of debt				$ 105,000,000
Revolving 1.25 Billion Dollar Credit Facility [Member] \| Line of Credit [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 1,250,000,000
Line of credit maturity date			Mar. 31, 2022
Revolving 1.25 Billion Dollar Credit Facility [Member] \| Line of Credit [Member] \| Revolving Credit Facility [Member] \| LIBOR [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Interest rate spread			1.00%
Revolving 1.25 Billion Dollar Credit Facility [Member] \| Line of Credit [Member] \| Revolving Credit Facility [Member] \| LIBOR [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Interest rate spread			1.75%
Revolving 1.25 Billion Dollar Credit Facility [Member] \| Line of Credit [Member] \| Revolving Credit Facility [Member] \| Bank Base Rate [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Interest rate spread			0.00%
Revolving 1.25 Billion Dollar Credit Facility [Member] \| Line of Credit [Member] \| Revolving Credit Facility [Member] \| Bank Base Rate [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Interest rate spread			0.75%
Revolving 1.5 Billion Dollar Credit Facility [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity														$ 1,500,000,000
Revolving 1.5 Billion Dollar Credit Facility [Member] \| Line of Credit [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 1,500,000,000
Line of credit maturity date			Oct. 06, 2026
Revolving 1.5 Billion Dollar Credit Facility [Member] \| Line of Credit [Member] \| Revolving Credit Facility [Member] \| LIBOR [Member]
Debt Instrument [Line Items]
Interest rate spread			1.00%
Revolving 1.5 Billion Dollar Credit Facility [Member] \| Line of Credit [Member] \| Revolving Credit Facility [Member] \| LIBOR [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Interest rate spread			1.00%
Revolving 1.5 Billion Dollar Credit Facility [Member] \| Line of Credit [Member] \| Revolving Credit Facility [Member] \| LIBOR [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Interest rate spread			1.75%
Revolving 1.5 Billion Dollar Credit Facility [Member] \| Line of Credit [Member] \| Revolving Credit Facility [Member] \| Bank Base Rate [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Interest rate spread			0.00%
Revolving 1.5 Billion Dollar Credit Facility [Member] \| Line of Credit [Member] \| Revolving Credit Facility [Member] \| Bank Base Rate [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Interest rate spread			0.75%
Revolving 1.5 Billion Dollar Credit Facility [Member] \| Line of Credit [Member] \| Revolving Credit Facility [Member] \| Federal Funds Effective Rate [Member]
Debt Instrument [Line Items]
Interest rate spread			0.50%
Senior Notes Due 2021 and 2026 [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Proceeds from long-term debt issuance											$ 988,000,000
Revolving $800 million Credit Facility [Member] \| Line of Credit [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity																		$ 800,000,000
Repayment of line of credit											300,000,000
4.125% Senior Notes Due 2016 [Member]
Debt Instrument [Line Items]
Stated interest rate																				4.125%
1-year Term Loan Facility Matures 2016, Tranche two [Member] \| Notes Payable [Member]
Debt Instrument [Line Items]
Repayment of line of credit											$ 400,000,000
1-year Term Loan Facility Matures 2016 [Member] \| Notes Payable [Member]
Debt Instrument [Line Items]
Debt instrument, term														1 year
Tranzact Collateralized Facility [Member]
Debt Instrument [Line Items]
Assumed debt related to borrowings						$ 91,000,000
Borrowings														$ 0
Repayment of principal and interest outstanding																	$ 32,000,000
One Year Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, term															1 year
Debt Instrument, Interest Rate Terms						Amounts outstanding under the term loan bore interest, at the option of the borrowers, at a rate equal to (a) LIBOR plus 0.75% to 1.375% for Eurocurrency Rate Loans or (b) the highest of (i) the Federal Funds Rate plus 0.5%, (ii) the ‘prime rate’ quoted by Bank of America, N.A., and (iii) LIBOR plus 1.00%, plus 0.00% to 0.375%
Debt Instrument Commitment Fee Percentage						0.15%
One Year Term Loan [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, face amount						$ 1,100,000,000
One Year Term Loan [Member] \| LIBOR [Member]
Debt Instrument [Line Items]
Interest rate spread						1.00%
One Year Term Loan [Member] \| LIBOR [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument Additional Basis Spread On Variable Rate1						0.00%
One Year Term Loan [Member] \| LIBOR [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument Additional Basis Spread On Variable Rate1						0.375%
One Year Term Loan [Member] \| EURO-Denominated [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Interest rate spread						0.75%
One Year Term Loan [Member] \| EURO-Denominated [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Interest rate spread						1.375%
One Year Term Loan [Member] \| Federal Funds Effective Swap Rate [Member]
Debt Instrument [Line Items]
Interest rate spread						0.50%

Debt - Maturities of Long Term Debt (Details) - USD ($)	Dec. 31, 2022	Oct. 06, 2021
Debt Instrument [Line Items]
2023	$ 446,000,000
2024	824,000,000
2025	166,000,000
2026	697,000,000
2027	873,000,000
Thereafter	3,750,000,000
Total	6,756,000,000
Senior Notes [Member]
Debt Instrument [Line Items]
2023	250,000,000
2024	650,000,000
2025	0
2026	550,000,000
2027	750,000,000
Thereafter	2,550,000,000
Total	4,750,000,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 1,500,000,000
Interest on Senior Notes [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
2023	196,000,000
2024	174,000,000
2025	166,000,000
2026	147,000,000
2027	123,000,000
Thereafter	1,200,000,000
Total	2,006,000,000
Revolving 1.5 Billion Dollar Credit Facility [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 1,500,000,000
Revolving 1.5 Billion Dollar Credit Facility [Member] \| Revolving Credit Facility [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 1,500,000,000

Debt - Interest Expense (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Collateralized Facility [Member]

$ 208

$ 211

$ 244

Senior Notes [Member]

196

200

227

Term Loan

Other [Member]

Revolving Credit Facility [Member]

^[1]

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

$ 3

$ 4

[1]	Other primarily includes interest expense on finance leases and accretion on deferred and contingent consideration.

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

Dec. 31, 2022

USD ($)

Dec. 31, 2021

USD ($)

Fair value inputs, weighted-average discount rate

0.1026

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:

$ 7

$ 9

^[1]

^[3]

^[2]

Recurring [Member] | Fiduciary Assets [Member]

^[1]

Assets:

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

142

152

Assets:

Recurring [Member] | Level 1 [Member]

200

Assets:

^[1]

^[3]

^[2]

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

^[1]

Assets:

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

142

152

Assets:

Recurring [Member] | Level 2 [Member]

200

Assets:

^[1]

^[3]

^[2]

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

^[1]

Assets:

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

Assets:

Recurring [Member] | Level 3 [Member]

Assets:

^[1]

^[3]

^[2]

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

^[1]

Assets:

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

$ 0

Assets:

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

$ 0

[1]	See Note 10 — Derivative Financial Instruments for further information on our derivative instruments.
[2]	Consideration due to be paid across multiple years until 2027.
[3]	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 10.26% and 11.92% at December 31, 2022 and December 31, 2021, respectively. The range of these discount rates was 3.53% - 13.80% at December 31, 2022. Using different probability weightings and discount rates could result in an increase or decrease of the contingent consideration payable.

Fair Value Measurements - Fair Value Liabilities Measured Using Significant Unobservable Inputs Level 3 (Details)
$ in Millions

12 Months Ended

Dec. 31, 2022

USD ($)

Balance as of beginning of period

$ 51

Obligations assumed

Payments

(22)

Realized and unrealized gains

$ (10)

^[1]

Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]

Other Cost and Expense, Operating

Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Liability, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration]

$ (1)

Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax

Balance as of end of period

$ 40

[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 consolidated statements of comprehensive income.

Fair Value Measurements - Narrative (Details) - USD ($)	12 Months Ended
Fair Value Measurements - Narrative (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair value significant transfers between Levels 1, 2 or 3	$ 0	$ 0

Fair Value Measurements - Schedule of Assets and Liabilities Whose Carrying Values Differ From the Fair Value and are Not Measured on a Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current debt	$ 250	$ 613
Long-term debt	4,471	3,974
Carrying Value [Member] \| Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term note receivable	68	69
Current debt	250	613
Long-term debt	4,471	3,974
Fair Value [Member] \| Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term note receivable	63	70
Current debt	248	616
Long-term debt	$ 4,069	$ 4,453

Retirement Benefits - Narrative (Details) $ in Millions	6 Months Ended	12 Months Ended
Retirement Benefits - Narrative (Details) $ in Millions	Dec. 31, 2017	Dec. 31, 2022 EUR (€)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Compensation and Retirement Disclosure [Line Items]
Portion of pension and OPEB obligation attributed to disclosed plans (as a percent)		98.00%	98.00%
Defined contribution plan expenses \| $			$ 148	$ 155	$ 160
United States [Member]
Compensation and Retirement Disclosure [Line Items]
Vesting period		2 years	2 years
United States [Member] \| Defined Contribution Plan Tranche One [Member]
Compensation and Retirement Disclosure [Line Items]
Employer matching contribution, percent of match		100.00%	100.00%
Maximum annual contributions per employee, percent		1.00%	1.00%
United States [Member] \| Defined Contribution Plan Tranche Two [Member]
Compensation and Retirement Disclosure [Line Items]
Employer matching contribution, percent of match		50.00%	50.00%
Maximum annual contributions per employee, percent		5.00%	5.00%
Ireland [Member] \| Willis [Member] \| Pension Plan [Member]
Compensation and Retirement Disclosure [Line Items]
Increase in salary maximum amount		€ 150,000
Ireland [Member] \| Towers Watson & Co. [Member] \| Pension Plan [Member]
Compensation and Retirement Disclosure [Line Items]
Increase in salary maximum amount		€ 160,000
Newly-eligible employees [Member] \| United States [Member]
Compensation and Retirement Disclosure [Line Items]
Defined benefit plan required employee contribution rate	0.02

Retirement Benefits - Change in Benefit Obligation and Plan Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Change in Plan Assets
Fair value of plan assets, beginning of year	$ 10,715
Fair value of plan assets, end of year	7,402	$ 10,715
Pension benefits assets	827	971
Non-current liability for pension benefits	(480)	(757)
Pension Plan [Member] \| United States [Member]
Change in Benefit Obligation
Benefit obligation, beginning of year	5,096	5,291
Service cost	77	79	$ 72
Interest cost	119	94	131
Employee contributions	16	16
Actuarial gains	1,186	170
Settlements	(25)	(6)
Curtailments	0	0
Benefits paid	(226)	(209)
Plan amendments	0	0
Plan (disposal)/addition	0	0
Other	0	1
Foreign currency changes	0	0
Benefit obligation, end of year	3,871	5,096	5,291
Change in Plan Assets
Fair value of plan assets, beginning of year	4,710	4,357
Actual return on plan assets	(694)	470
Employer contributions	42	82
Employee contributions	16	16
Settlements	(25)	(6)
Benefits paid	(226)	(209)
Plan (disposal)/addition	0	0
Other	0	0
Foreign currency adjustment	0	0
Fair value of plan assets, end of year	3,823	4,710	4,357
Funded status at end of year	(48)	(386)
Accumulated Benefit Obligation	3,871	5,096
Pension benefits assets	179	0
Current liability for pension benefits	(26)	(52)
Non-current liability for pension benefits	(201)	(334)
Components on the Consolidated Balance Sheet	(48)	(386)
Pension Plan [Member] \| United Kingdom [Member]
Change in Benefit Obligation
Benefit obligation, beginning of year	4,369	4,843
Service cost	12	17	15
Interest cost	70	56	73
Employee contributions	0	0
Actuarial gains	1,434	109
Settlements	(5)	(9)
Curtailments	0	11
Benefits paid	(130)	(145)
Plan amendments	0	0
Plan (disposal)/addition	0	(257)
Other	0	0
Foreign currency changes	(447)	(38)
Benefit obligation, end of year	2,435	4,369	4,843
Change in Plan Assets
Fair value of plan assets, beginning of year	5,266	5,767
Actual return on plan assets	(1,622)	(68)
Employer contributions	33	42
Employee contributions	0	0
Settlements	(5)	(9)
Benefits paid	(130)	(145)
Plan (disposal)/addition	0	(275)
Other	0	0
Foreign currency adjustment	(543)	(46)
Fair value of plan assets, end of year	2,999	5,266	5,767
Funded status at end of year	564	897
Accumulated Benefit Obligation	2,435	4,369
Pension benefits assets	569	903
Current liability for pension benefits	0	0
Non-current liability for pension benefits	(5)	(6)
Components on the Consolidated Balance Sheet	564	897
Pension Plan [Member] \| Other Foreign Plans [Member]
Change in Benefit Obligation
Benefit obligation, beginning of year	922	955
Service cost	22	24	21
Interest cost	15	12	15
Employee contributions	1	0
Actuarial gains	221	54
Settlements	(2)	(6)
Curtailments	0	0
Benefits paid	(30)	(40)
Plan amendments	0	12
Plan (disposal)/addition	0	46
Other	2	0
Foreign currency changes	(54)	(27)
Benefit obligation, end of year	655	922	955
Change in Plan Assets
Fair value of plan assets, beginning of year	739	684
Actual return on plan assets	(124)	44
Employer contributions	38	36
Employee contributions	1	0
Settlements	(2)	(6)
Benefits paid	(30)	(40)
Plan (disposal)/addition	0	37
Other	2	1
Foreign currency adjustment	(44)	(17)
Fair value of plan assets, end of year	580	739	$ 684
Funded status at end of year	(75)	(183)
Accumulated Benefit Obligation	629	884
Pension benefits assets	57	48
Current liability for pension benefits	(5)	(5)
Non-current liability for pension benefits	(127)	(226)
Components on the Consolidated Balance Sheet	$ (75)	$ (183)

Retirement Benefits - Amounts Recognized in Other Comprehensive Income (Loss) (Details) - Pension Plan [Member] - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss	$ 597	$ 776
Net prior service loss/(gain)	0	0
Accumulated other comprehensive loss/(income)	597	776
United Kingdom [Member]
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss	1,497	1,356
Net prior service loss/(gain)	6	(7)
Accumulated other comprehensive loss/(income)	1,503	1,349
Other Foreign Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss	36	103
Net prior service loss/(gain)	9	10
Accumulated other comprehensive loss/(income)	$ 45	$ 113

Retirement Benefits - Benefit Obligation In Excess Of Plan Assets (Details) - Pension Plan [Member] - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation at end of year	$ 939	$ 5,096
Fair value of plan assets at end of year	713	4,710
United Kingdom [Member]
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation at end of year	5	7
Fair value of plan assets at end of year	0	0
Other Foreign Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation at end of year	278	476
Fair value of plan assets at end of year	$ 145	$ 245

Retirement Benefits - Accumulated Benefit Obligation In Excess of Plan Assets (Details) - Pension Plan [Member] - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation at end of year	$ 939	$ 5,096
Accumulated benefit obligation at end of year	939	5,096
Fair value of plan assets at end of year	713	4,710
United Kingdom [Member]
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation at end of year	5	7
Accumulated benefit obligation at end of year	5	7
Fair value of plan assets at end of year	0	0
Other Foreign Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation at end of year	238	458
Accumulated benefit obligation at end of year	228	437
Fair value of plan assets at end of year	$ 106	$ 228

Retirement Benefits - Net Periodic Benefit Cost (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)
Pension Plan [Member] \| United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 77,000,000	$ 79,000,000	$ 72,000,000
Interest cost	119,000,000	94,000,000	131,000,000
Expected return on plan assets	(331,000,000)	(312,000,000)	(291,000,000)
Amortization of unrecognized actuarial loss	14,000,000	37,000,000	35,000,000
Settlement	4,000,000	1,000,000	2,000,000
Other	0	1,000,000
Net periodic benefit (income)/cost	(117,000,000)	(100,000,000)	(51,000,000)
Net actuarial (gain)/loss	(161,000,000)	(328,000,000)	198,000,000
Amortization of unrecognized actuarial loss	(14,000,000)	(37,000,000)	(35,000,000)
Settlement	(4,000,000)	(1,000,000)	(2,000,000)
Total recognized in other comprehensive loss/(income)	(179,000,000)	(366,000,000)	161,000,000
Total recognized in net periodic benefit (income)/cost and other comprehensive loss/(income)	(296,000,000)	(466,000,000)	110,000,000
Pension Plan [Member] \| United Kingdom [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	12,000,000	17,000,000	15,000,000
Interest cost	70,000,000	56,000,000	73,000,000
Expected return on plan assets	(144,000,000)	(170,000,000)	(247,000,000)
Amortization of unrecognized prior service (credit)/cost	(12,000,000)	(17,000,000)	(17,000,000)
Amortization of unrecognized actuarial loss	29,000,000	27,000,000	23,000,000
Settlement	1,000,000	2,000,000	3,000,000
Curtailment gain		(1,000,000)
Other	0	0
Net periodic benefit (income)/cost	(44,000,000)	(86,000,000)	(150,000,000)
Net actuarial (gain)/loss	332,000,000	140,000,000	151,000,000
Amortization of unrecognized actuarial loss	(29,000,000)	(27,000,000)	(23,000,000)
Prior service cost/(credit)			9,000,000
Amortization of unrecognized prior service credit	12,000,000	17,000,000	17,000,000
Settlement	(1,000,000)	(2,000,000)	(3,000,000)
Curtailment gain		1,000,000
Plan (disposal)/addition		34,000,000
Total recognized in other comprehensive loss/(income)	314,000,000	95,000,000	151,000,000
Total recognized in net periodic benefit (income)/cost and other comprehensive loss/(income)	270,000,000	9,000,000	1,000,000
Pension Plan [Member] \| Other Foreign Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	22,000,000	24,000,000	21,000,000
Interest cost	15,000,000	12,000,000	15,000,000
Expected return on plan assets	(38,000,000)	(37,000,000)	(34,000,000)
Amortization of unrecognized prior service (credit)/cost	1,000,000	1,000,000	0
Amortization of unrecognized actuarial loss	3,000,000	6,000,000	3,000,000
Settlement	(1,000,000)	2,000,000	(1,000,000)
Other	2,000,000	0
Net periodic benefit (income)/cost	2,000,000	8,000,000	6,000,000
Net actuarial (gain)/loss	(59,000,000)	(61,000,000)	35,000,000
Amortization of unrecognized actuarial loss	(3,000,000)	(6,000,000)	(3,000,000)
Prior service cost/(credit)		12,000,000
Amortization of unrecognized prior service credit	(1,000,000)	(1,000,000)
Settlement	1,000,000	(2,000,000)	(1,000,000)
Plan (disposal)/addition		(8,000,000)
Total recognized in other comprehensive loss/(income)	(62,000,000)	(50,000,000)	31,000,000
Total recognized in net periodic benefit (income)/cost and other comprehensive loss/(income)	$ (60,000,000)	$ (42,000,000)	$ 37,000,000

Retirement Benefits - Assumptions Used (Details) - Pension Plan [Member]	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate - PBO	2.80%	2.50%	3.30%
Discount rate - service cost	3.00%	2.70%	3.40%
Discount rate - interest cost on service cost	2.50%	2.00%	2.80%
Discount rate - interest cost on PBO	2.40%	1.80%	2.80%
Expected long-term rate of return on assets	7.20%	7.20%	7.70%
Rate of increase in compensation levels	4.30%	4.30%	4.30%
Discount rate	5.40%	2.80%
Rate of increase in compensation levels	4.30%	4.30%
United Kingdom [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate - PBO	1.90%	1.50%	2.00%
Discount rate - service cost	1.90%	1.60%	2.10%
Discount rate - interest cost on service cost	1.80%	1.40%	1.90%
Discount rate - interest cost on PBO	1.80%	1.20%	1.80%
Expected long-term rate of return on assets	3.00%	3.10%	5.00%
Rate of increase in compensation levels	3.40%	3.00%	3.00%
Discount rate	5.00%	1.90%
Rate of increase in compensation levels	3.40%	3.40%
Other Foreign Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate - PBO	2.00%	1.70%	2.10%
Discount rate - service cost	2.40%	2.30%	2.50%
Discount rate - interest cost on service cost	2.20%	2.00%	2.40%
Discount rate - interest cost on PBO	1.80%	1.30%	1.90%
Expected long-term rate of return on assets	5.40%	5.40%	5.90%
Rate of increase in compensation levels	2.30%	2.30%	2.30%
Discount rate	4.30%	2.00%
Rate of increase in compensation levels	2.40%	2.30%

Retirement Benefits - Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 84	$ 113
Pension Plan [Member] \| United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3,821	4,710
Pension Plan [Member] \| United States [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	15	5
Pension Plan [Member] \| United States [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	89	65
Pension Plan [Member] \| United Kingdom [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3,581	6,043
Net assets	2,999	5,266
Pension Plan [Member] \| United Kingdom [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,392	2,999
Net assets	1,392	2,999
Pension Plan [Member] \| United Kingdom [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	753	1,249
Net assets	171	472
Pension Plan [Member] \| United Kingdom [Member] \| Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	40	69
Net assets	40	69
Pension Plan [Member] \| Other Foreign Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	580	739
Pension Plan [Member] \| Other Foreign Plans [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3	4
Pension Plan [Member] \| Other Foreign Plans [Member] \| Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	44	44
Pension Plan [Member] \| Cash [Member] \| United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	15	5
Pension Plan [Member] \| Cash [Member] \| United States [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	15	5
Pension Plan [Member] \| Cash [Member] \| United Kingdom [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	125	389
Pension Plan [Member] \| Cash [Member] \| United Kingdom [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	125	389
Pension Plan [Member] \| Cash [Member] \| Other Foreign Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3	4
Pension Plan [Member] \| Cash [Member] \| Other Foreign Plans [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3	4
Pension Plan [Member] \| Short-term securities [Member] \| United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	89	65
Pension Plan [Member] \| Short-term securities [Member] \| United States [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	89	65
Pension Plan [Member] \| Government bonds [Member] \| United Kingdom [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,267	2,610
Pension Plan [Member] \| Government bonds [Member] \| United Kingdom [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,267	2,610
Pension Plan [Member] \| Other fixed income [Member] \| United Kingdom [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	189	519
Pension Plan [Member] \| Other fixed income [Member] \| United Kingdom [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	189	519
Pension Plan [Member] \| Pooled / commingled funds [Member] \| United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,945	2,788
Pension Plan [Member] \| Pooled / commingled funds [Member] \| United Kingdom [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,255	1,537
Pension Plan [Member] \| Pooled / commingled funds [Member] \| Other Foreign Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	501	648
Pension Plan [Member] \| Mutual funds [Member] \| United Kingdom [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		12
Pension Plan [Member] \| Private equity [Member] \| United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	612	537
Pension Plan [Member] \| Private equity [Member] \| United Kingdom [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	20	25
Pension Plan [Member] \| Derivatives [Member] \| United Kingdom [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	229	226
Fair value of plan liabilities	98
Pension Plan [Member] \| Derivatives [Member] \| United Kingdom [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	229	226
Fair value of plan liabilities	98
Pension Plan [Member] \| Hedge funds [Member] \| United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,160	1,315
Pension Plan [Member] \| Hedge funds [Member] \| Other Foreign Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	32	43
Pension Plan [Member] \| Real estate [Member] \| United Kingdom [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	121	152
Pension Plan [Member] \| Corporate bonds [Member] \| United Kingdom [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	335	504
Pension Plan [Member] \| Corporate bonds [Member] \| United Kingdom [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	335	504
Pension Plan [Member] \| Insurance contracts [Member] \| United Kingdom [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	40	69
Pension Plan [Member] \| Insurance contracts [Member] \| United Kingdom [Member] \| Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	40	69
Pension Plan [Member] \| Insurance contracts [Member] \| Other Foreign Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	5	7
Pension Plan [Member] \| Insurance contracts [Member] \| Other Foreign Plans [Member] \| Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	5	7
Pension Plan [Member] \| Repurchase agreements [Member] \| United Kingdom [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan liabilities	484	777
Pension Plan [Member] \| Repurchase agreements [Member] \| United Kingdom [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan liabilities	484	777
Pension Plan [Member] \| Investment in multiple employer pension plan [Member] \| Other Foreign Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	39	37
Pension Plan [Member] \| Investment in multiple employer pension plan [Member] \| Other Foreign Plans [Member] \| Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 39	$ 37

Retirement Benefits - Fair Value Reconciliation (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Net assets held in investments	$ 7,400	$ 10,715
Net receivable for investments purchased	2	0
Fair value of plan assets	$ 7,402	$ 10,715

Retirement Benefits - Significant Unobservable Input Reconciliation (Details) - Level 3 [Member] $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets, beginning of year	$ 113
Purchases	5
Unrealized loss	(26)
Foreign exchange	(8)
Fair value of plan assets, end of year	$ 84

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

Retirement Benefits - Projected Benefit Obligation (Details) - Pension Plan [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	$ 42	$ 82
United States [Member] \| Qualified Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected future employer contributions, next fiscal year	0
Employer contributions	1	60
United Kingdom [Member]
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	33	42
United Kingdom [Member] \| Qualified Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected future employer contributions, next fiscal year	31
Employer contributions	32	41
Other Foreign Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	38	36
Other Foreign Plans [Member] \| Qualified Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected future employer contributions, next fiscal year	23
Employer contributions	$ 25	$ 25

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

Other Income and Expenses [Abstract]

Retirement Benefits - Expected Benefit Payments (Details) $ in Millions	Dec. 31, 2022 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2023	$ 429
2024	424
2025	433
2026	452
2027	463
Years 2028 - 2032	2,397
Expected future benefit payments, total	4,598
Pension Plan [Member] \| UNITED STATES [Member]
Defined Benefit Plan Disclosure [Line Items]
2023	270
2024	279
2025	285
2026	293
2027	297
Years 2028 - 2032	1,497
Expected future benefit payments, total	2,921
Pension Plan [Member] \| UNITED KINGDOM [Member]
Defined Benefit Plan Disclosure [Line Items]
2023	126
2024	117
2025	119
2026	128
2027	133
Years 2028 - 2032	710
Expected future benefit payments, total	1,333
Pension Plan [Member] \| Other Foreign Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
2023	33
2024	28
2025	29
2026	31
2027	33
Years 2028 - 2032	190
Expected future benefit payments, total	$ 344

Leases - Schedule of Lease (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Right-of-use assets	$ 586	$ 720
Operating Lease, Current lease liabilities	126	150
Operating Lease, Long-term lease liabilities	620	734
Finance Lease, Right-of-use assets	$ 4	$ 6
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant and Equipment, Net	Property, Plant and Equipment, Net
Finance Lease, Current lease liabilities	$ 4	$ 4
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Current	Other Liabilities, Current
Finance Lease, Long-term lease liabilities	$ 12	$ 15
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Total Right-of-use assets	$ 590	$ 726
Total Current lease liabilities	130	154
Total Long-term lease liabilities	$ 632	$ 749

Leases - Schedule of Amount Recorded in Consolidated Statements of Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Finance lease cost:
Amortization of right-of-use assets	$ 2	$ 1	$ 2
Interest on lease liabilities	2	3	3
Operating lease cost	175	192	181
Short-term lease cost	0	1	1
Variable lease cost	71	52	53
Sublease income	(15)	(20)	(21)
Total lease cost, net	$ 235	$ 229	$ 219

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Lease cost	$ 235	$ 229	$ 219
Non-cash additions to operating lease ROU assets	65	37	$ 70
Restructuring Charges [Member]
Lessee, Lease, Description [Line Items]
Lease cost	$ 57	$ 19

Leases -Schedule of Cash Paid in the Measurement of Lease Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Operating leases	$ 173	$ 186	$ 190
Finance leases	2	3	3
Cash flows used in financing activities:
Finance leases	4	3	3
Total lease payments	$ 179	$ 192	$ 196

Leases - Schedule of Weighted Average Term and Discount Rates (Details)	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating Leases, Weighted-average remaining term (in years)	6 years 10 months 24 days	7 years 6 months
Operating Leases, Weighted-average discount rate	3.40%	3.30%
Finance Leases, Weighted-average remaining term (in years)	3 years 1 month 6 days	4 years 1 month 6 days
Finance Leases, Weighted-average discount rate	12.70%	12.70%

Leases - Schedule of Maturity of Operating and Finance Leases Liabilities (Details) $ in Millions	Dec. 31, 2022 USD ($)
Operating Leases [Abstract]
Operating Lease, 2023	$ 148
Operating Lease, 2024	136
Operating Lease, 2025	123
Operating Lease, 2026	103
Operating Lease, 2027	82
Operating Lease, Thereafter	249
Operating Lease, Total future lease payments	841
Operating Lease, Interest	(95)
Operating Lease, Total lease liabilities	746
Finance Leases [Abstract]
Finance Lease, 2023	6
Finance Lease, 2024	6
Finance Lease, 2025	6
Finance Lease, 2026	1
Finance Lease, 2027	0
Finance Lease, Thereafter	0
Finance Lease, Total future lease payments	19
Finance Lease, Interest	(3)
Finance Lease, Total lease liabilities	16
Leases Liabilities Due [Abstract]
Total Lease, 2023	154
Total Lease, 2024	142
Total Lease, 2025	129
Total Lease, 2026	104
Total Lease, 2027	82
Total Lease, Thereafter	249
Total Lease, Total future lease payments	860
Total Lease, Interest	(98)
Total Lease, Total lease liabilities	$ 762

Commitments and Contingencies - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Loss Contingencies [Line Items]
Operating leases	$ 841,000,000
Capital lease obligations	19,000,000
Business combination payments for deferred consideration payable	6,000,000	$ 0
Amount payable from option	16,000,000
Trident V Parallel Fund [Member]
Loss Contingencies [Line Items]
Capital contribution obligation	2,000,000
Property Lease Guarantee [Member]
Loss Contingencies [Line Items]
Operating leases	399,000,000	498,000,000
Capital lease obligations	$ 3,000,000	$ 4,000,000

Supplementary Information for Certain Balance Sheet Accounts - Prepaid and Other Current Assets (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepayments and accrued income	$ 132	$ 137
Short-term investments	0	200
Deferred contract costs	71	74
Derivatives and investments	43	35
Deferred compensation plan assets	16	19
Corporate income and other taxes	89	82
Acquired renewal commissions receivable	9	11
Other current assets	54	54
Total prepaid and other current assets	$ 414	$ 612

Supplementary Information for Certain Balance Sheet Accounts - Other Non-current Assets (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepayments and accrued income	$ 10	$ 11
Deferred contract costs	126	115
Deferred compensation plan assets	74	109
Deferred tax assets	68	79
Accounts receivable, net	9	23
Acquired renewal commissions receivable	29	52
Long-term note receivable	68	69
Other investments	90	55
Insurance recovery receivables	80	96
Non-current contract assets	745	532
Other non-current assets	58	61
Total other non-current assets	$ 1,357	$ 1,202

Supplementary Information for Certain Balance Sheet Accounts - Deferred Revenue and Accrued Expenses (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts payable, accrued liabilities and deferred income	$ 975	$ 898
Accrued discretionary and incentive compensation	708	811
Accrued vacation	142	145
Other employee-related liabilities	90	72
Total deferred revenue and accrued expenses	$ 1,915	$ 1,926

Supplementary Information for Certain Balance Sheet Accounts - Other Current Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Dividends payable	$ 102	$ 112
Income taxes payable	83	260
Interest payable	49	55
Deferred compensation plan liabilities	14	49
Contingent and deferred consideration on acquisitions	17	24
Accrued retirement benefits	32	65
Payroll and other benefits-related liabilities	225	230
Derivatives	4	0
Third-party commissions	124	101
Other current liabilities	66	119
Total other current liabilities	$ 716	$ 1,015

Supplementary Information for Certain Balance Sheet Accounts - Provision For Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Claims, lawsuits and other proceedings	$ 296	$ 311
Other provisions	61	64
Total provision for liabilities	$ 357	$ 375

Supplementary Information for Certain Balance Sheet Accounts - Other Non-current Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Deferred compensation plan liability	$ 74	$ 109
Contingent and deferred consideration on acquisitions	29	27
Liabilities for uncertain tax positions	40	43
Finance leases	12	15
Other non-current liabilities	66	59
Total other non-current liabilities	$ 221	$ 253

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

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Gain on disposal of operations

^[1]

$ 7

$ 379

$ 81

Net periodic pension and postretirement benefit credits

272

303

304

Interest in earnings of associates and other investments

Foreign exchange gain

^[2]

Other

Other income, net

$ 288

$ 701

$ 396

[1]	For the year ended December 31, 2022, includes a $24 million non-cash revaluation gain related to an acquisition completed in stages.
[2]	Includes the offsetting effects of the Company's foreign currency hedging program. See Note 10 — Derivative Financial Instruments.

Other Income, Net (Parenthetical ) (Details) $ in Millions	12 Months Ended
Other Income, Net (Parenthetical ) (Details) $ in Millions	Dec. 31, 2022 USD ($)
Non-cash Revaluation Gain Related to Acquisition [Member]
Gain on disposal of operations	$ 24

Accumulated Other Comprehensive Loss - Components of Other Comprehensive (Loss) Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive (loss)/income before tax	$ (418)	$ 255	$ (208)
Other comprehensive (loss)/income, tax	(18)	(80)	77
Other comprehensive (loss)/income, net of tax, before non-controlling interests	(436)	175	(131)
Foreign currency translation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive (loss)/income before tax	(499)	(87)	139
Other comprehensive (loss)/income, tax	0	0	0
Other comprehensive (loss)/income, net of tax, before non-controlling interests	(499)	(87)	139
Defined pension and post-retirement benefits [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive (loss)/income before tax	87	343	(342)
Other comprehensive (loss)/income, tax	(22)	(83)	76
Other comprehensive (loss)/income, net of tax, before non-controlling interests	65	260	(266)
Derivative instruments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive (loss)/income before tax	(6)	(1)	(5)
Other comprehensive (loss)/income, tax	4	3	1
Other comprehensive (loss)/income, net of tax, before non-controlling interests	(2)	2	(4)
AOCI Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive (loss)/income, before tax	1	(2)	(1)
Other comprehensive (loss)/income, tax	0	0	0
Other comprehensive (loss)/income, net of tax, before non-controlling interests	1	(2)	(1)
AOCI Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive (loss)/income before tax	(417)	253	(209)
Other comprehensive (loss)/income, tax	(18)	(80)	77
Other comprehensive (loss)/income, net of tax, before non-controlling interests	$ (435)	$ 173	$ (132)

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

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

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

Stockholders' equity attributable to parent, beginning balance

$ 13,260

Reclassification of tax effects per ASU 2018-02

(1,764)

$ (4,645)

Stockholders' equity attributable to parent, ending balance

10,016

13,260

Foreign currency translation [Member]

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

Stockholders' equity attributable to parent, beginning balance

(489)

(400)

$ (538)

Other comprehensive income/(loss) before reclassifications

(498)

(133)

138

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

^[1]

Stockholders' equity attributable to parent, ending balance

(498)

(89)

138

(987)

(489)

(400)

Derivative instruments [Member]

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

Stockholders' equity attributable to parent, beginning balance

^[2]

Other comprehensive income/(loss) before reclassifications

^[2]

(3)

(12)

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

^[2]

(7)

^[1]

Stockholders' equity attributable to parent, ending balance

^[2]

(2)

(4)

^[2]

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]

(1,708)

(1,968)

(1,702)

Other comprehensive income/(loss) before reclassifications

^[3]

191

(298)

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

^[3]

^[1]

Stockholders' equity attributable to parent, ending balance

^[3]

260

(266)

^[3]

(1,643)

(1,708)

(1,968)

Total [Member]

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

Stockholders' equity attributable to parent, beginning balance

(2,186)

(2,359)

(2,227)

Other comprehensive income/(loss) before reclassifications

(460)

(172)

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

106

^[1]