Summary
Aon Corporation's 2007 10-K filing indicates a strong financial performance, with total revenue increasing by 9% to $7.47 billion, primarily driven by an 8% rise in its Risk and Insurance Brokerage Services segment. The company also saw a significant increase in income from continuing operations, up 54% to $672 million, and net income rose 20% to $864 million. Key strategic moves during the year included the announcement of definitive agreements to sell its CICA and Sterling subsidiaries, expected to close in Q2 2008, for approximately $2.75 billion. The company also made substantial progress on its restructuring plans, aiming for significant annualized cost savings. Aon continued its commitment to returning capital to shareholders, with its Board increasing the share repurchase program authorization to $4.6 billion.
Financial Highlights
27 data points| Revenue | $7.23B |
| Operating Expenses | $6.23B |
| Operating Income | $1.00B |
| Interest Expense | $138.00M |
| Net Income | $864.00M |
| EPS (Basic) | $2.83 |
| EPS (Diluted) | $2.66 |
| Shares Outstanding (Basic) | 305.00M |
| Shares Outstanding (Diluted) | 326.90M |
Key Highlights
- 1Total revenue increased by 9% to $7.47 billion in 2007.
- 2Income from continuing operations rose 54% to $672 million.
- 3Net income increased 20% to $864 million.
- 4Announced definitive agreements to sell CICA and Sterling subsidiaries for approximately $2.75 billion.
- 5Global restructuring plan targeting $240 million in annualized savings by 2010.
- 6Share repurchase program authorization increased to $4.6 billion.
- 7Risk and Insurance Brokerage Services segment remains the largest revenue contributor, accounting for 82% of operating segment revenues.