Aon plc Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	3,695	2,654	2,564	2,589	1,255
Depreciation & Amortization	966	615	194	264	326
Other Amortization	-	80	81	-	-
Loss (Gain) From Sale of Assets	-1,201	-337	-4	-54	-142
Stock-Based Compensation	432	474	438	397	449
Other Operating Activities	-219	-388	-300	-25	69
Change in Accounts Receivable	-257	-312	-188	-96	-119
Change in Accounts Payable	-155	393	13	-22	264
Change in Income Taxes	114	-	174	216	200
Change in Other Net Operating Assets	106	-144	463	-50	-120
Operating Cash Flow	3,481	3,035	3,435	3,219	2,182
Operating Cash Flow Growth	14.70%	-11.64%	6.71%	47.52%	-21.59%
Capital Expenditures	-263	-218	-252	-196	-137
Cash Acquisitions	-394	-3,506	-35	-162	-14
Divestitures	2,349	700	5	81	218
Investment in Securities	-1,406	191	94	-172	-18
Investing Cash Flow	286	-2,833	-188	-449	49
Short-Term Debt Issued	-	280	358	702	1,239
Long-Term Debt Issued	-	7,926	744	1,967	1,495
Total Debt Issued	-	8,206	1,102	2,669	2,734
Short-Term Debt Repaid	-390	-591	-27	-65	-
Long-Term Debt Repaid	-1,850	-4,928	-350	-500	-413
Total Debt Repaid	-2,240	-5,519	-377	-565	-413
Net Debt Issued (Repaid)	-2,240	2,687	725	2,104	2,321
Issuance of Common Stock	70	79	72	58	55
Repurchase of Common Stock	-1,208	-1,202	-2,941	-3,418	-3,728
Common Dividends Paid	-629	-562	-489	-463	-447
Other Financing Activities	-198	-206	-232	-71	-125
Financing Cash Flow	-4,205	796	-2,865	-1,790	-1,924
Foreign Exchange Rate Adjustments	678	-387	264	-549	-235
Net Cash Flow	240	611	646	431	72
Free Cash Flow	3,218	2,817	3,183	3,023	2,045
Free Cash Flow Growth	14.24%	-11.50%	5.29%	47.82%	-22.60%
Free Cash Flow Margin	18.73%	17.95%	23.80%	24.22%	16.77%
Free Cash Flow Per Share	14.82	13.26	15.53	14.18	9.04
Cash Interest Paid	-	658	446	351	328
Cash Income Tax Paid	-	1,053	740	546	412
Levered Free Cash Flow	3,407	3,399	2,656	2,568	1,939
Unlevered Free Cash Flow	3,917	3,891	2,959	2,822	2,140
Change in Working Capital	-192	-63	462	48	225

Source: S&P Global Market Intelligence. Standard template. Financial Sources.