The company said revenue for 2023 rose $897 million (7%) to $13.4 billion, and net income fell $18 million (1%) to $2.6 billion. Its operating margin declined from 29.4% in 2022 to 28.3%.

1. 01

   The company said revenue for 2023 rose $897 million (7%) to $13.4 billion, and net income fell $18 million (1%) to $2.6 billion. Its operating margin declined from 29.4% in 2022 to 28.3%.

2. 02

   The company said operating expenses for 2023 rose $781 million to $9.6 billion, including $197 million in expenses tied to certain accrued actual or anticipated legal settlements and $135 million related to the Accelerating Aon United Restructuring Program.

3. 03

   The company reported non-GAAP metrics for 2023: adjusted operating margin of 31.6% (up 30.8% from 2022), adjusted diluted earnings per share of $14.14 (up $13.39 from 2022), and free cash flow of $3.2 billion (up $160 million).

4. 04

   The company said it entered into an agreement to acquire NFP on December 19, 2023 for approximately $7 billion in cash and approximately 20,000,000 class A ordinary shares, with completion expected by mid-2024. It plans to fund the cash portion of approximately $7 billion with new debt.

Key figures

Fiscal year ended December 31, 2023

Revenue

$13.4B

Operating income

$3.8B

Net income

$2.6B

EPS

$12.51

Operating cash flow

$3.4B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.