Cover
Cover - shares | 9 Months Ended | |
Sep. 30, 2020 | Oct. 23, 2020 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2020 | |
Document Transition Report | false | |
Entity File Number | 0-24429 | |
Entity Registrant Name | COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 13-3728359 | |
Entity Address, Address Line One | Glenpointe Centre West | |
Entity Address, Address Line Two | 500 Frank W. Burr Blvd. | |
Entity Address, City or Town | Teaneck, | |
Entity Address, State or Province | NJ | |
Entity Address, Postal Zip Code | 07666 | |
City Area Code | 201 | |
Local Phone Number | 801-0233 | |
Title of 12(b) Security | Class A Common Stock, $0.01 par value per share | |
Trading Symbol | CTSH | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 534,641,037 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q3 | |
Entity Central Index Key | 0001058290 | |
Current Fiscal Year End Date | --12-31 | |
Amendment Flag | false |
Consolidated Statements Of Fina
Consolidated Statements Of Financial Position (Unaudited) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Current assets: | ||
Cash and cash equivalents | $ 4,436 | $ 2,645 |
Short-term investments | 139 | 779 |
Trade accounts receivable, net | 3,118 | 3,256 |
Other current assets | 926 | 931 |
Total current assets | 8,619 | 7,611 |
Property and equipment, net | 1,313 | 1,309 |
Operating lease assets, net | 1,004 | 926 |
Goodwill | 4,931 | 3,979 |
Intangible assets, net | 1,087 | 1,041 |
Deferred income tax assets, net | 563 | 585 |
Long-term investments | 441 | 17 |
Other noncurrent assets | 829 | 736 |
Total assets | 18,787 | 16,204 |
Current liabilities: | ||
Accounts payable | 420 | 239 |
Deferred revenue | 285 | 313 |
Short-term debt | 38 | 38 |
Operating lease liabilities | 213 | 202 |
Accrued expenses and other current liabilities | 2,340 | 2,191 |
Total current liabilities | 3,296 | 2,983 |
Deferred revenue, noncurrent | 32 | 23 |
Operating lease liabilities, noncurrent | 820 | 745 |
Deferred income tax liabilities, net | 310 | 35 |
Long-term debt | 2,412 | 700 |
Long-term income taxes payable | 428 | 478 |
Other noncurrent liabilities | 349 | 218 |
Total liabilities | 7,647 | 5,182 |
Commitments and contingencies (See Note 12) | ||
Stockholders’ equity: | ||
Preferred stock, $0.10 par value, 15 shares authorized, none issued | 0 | 0 |
Class A common stock, $0.01 par value, 1,000 shares authorized, 539 and 548 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively | 5 | 5 |
Additional paid-in capital | 33 | 33 |
Retained earnings | 11,142 | 11,022 |
Accumulated other comprehensive income (loss) | (40) | (38) |
Total stockholders’ equity | 11,140 | 11,022 |
Total liabilities and stockholders’ equity | $ 18,787 | $ 16,204 |
Consolidated Statements Of Fi_2
Consolidated Statements Of Financial Position (Unaudited) (Parenthetical) - $ / shares | Sep. 30, 2020 | Dec. 31, 2019 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value (in dollars per share) | $ 0.10 | $ 0.10 |
Preferred Stock, Shares Authorized | 15,000,000 | 15,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Class A common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common Stock, Shares Authorized | 1,000,000,000 | 1,000,000,000 |
Common Stock, Shares, Issued | 539,000,000 | 548,000,000 |
Common Stock, Shares, Outstanding | 539,000,000 | 548,000,000 |
Consolidated Statements Of Oper
Consolidated Statements Of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Income Statement [Abstract] | ||||
Revenues | $ 4,243 | $ 4,248 | $ 12,468 | $ 12,499 |
Operating expenses: | ||||
Cost of revenues (exclusive of depreciation and amortization expense shown separately below) | 2,647 | 2,681 | 8,009 | 7,885 |
Selling, general and administrative expenses | 804 | 706 | 2,226 | 2,296 |
Depreciation and amortization expense | 138 | 127 | 407 | 375 |
Income from operations | 603 | 669 | 1,649 | 1,827 |
Other income (expense), net: | ||||
Interest income | 27 | 43 | 105 | 136 |
Interest expense | (6) | (7) | (21) | (20) |
Foreign currency exchange gains (losses), net | (1) | (47) | (105) | (29) |
Other, net | 1 | 0 | 1 | 3 |
Total other income (expense), net | 21 | (11) | (20) | 90 |
Income before provision for income taxes | 624 | 658 | 1,629 | 1,917 |
Provision for income taxes | (276) | (160) | (552) | (469) |
Income (Loss) from Equity Method Investments | 0 | (1) | (1) | (1) |
Net income | $ 348 | $ 497 | $ 1,076 | $ 1,447 |
Basic earnings per share (usd per share) | $ 0.64 | $ 0.90 | $ 1.98 | $ 2.57 |
Diluted earnings per share (usd per share) | $ 0.64 | $ 0.90 | $ 1.98 | $ 2.57 |
Weighted average number of common shares outstanding - Basic (shares) | 542 | 551 | 543 | 563 |
Dilutive effect of shares issuable under stock-based compensation plans (shares) | 1 | 0 | 0 | 0 |
Weighted average number of common shares outstanding - Diluted (shares) | 543 | 551 | 543 | 563 |
Restructuring Charges | $ 51 | $ 65 | $ 177 | $ 116 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income (Unaudited) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 348 | $ 497 | $ 1,076 | $ 1,447 |
Other comprehensive income (loss), net of tax: | ||||
Foreign currency translation adjustments | 90 | (65) | (7) | (76) |
Change in unrealized gains and losses on cash flow hedges | 58 | (24) | 5 | 23 |
Change in unrealized gains and losses on available-for-sale securities | 0 | 0 | 0 | 8 |
Other comprehensive income (loss) | 148 | (89) | (2) | (45) |
Comprehensive income | $ 496 | $ 408 | $ 1,074 | $ 1,402 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Millions, $ in Millions | Total | Cumulative Effect, Period of Adoption, Adjustment | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Retained Earnings [Member]Cumulative Effect, Period of Adoption, Adjustment | Accumulated other comprehensive income (loss): |
AOCI, beginning balance at Dec. 31, 2018 | $ 11,424 | $ 2 | $ 6 | $ 47 | $ 11,485 | $ 2 | $ (114) |
Beginning balance, shares at Dec. 31, 2018 | 577 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 441 | 441 | |||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 40 | ||||||
Other comprehensive income (loss) | 40 | ||||||
Common stock issued, stock-based compensation plans - value | 50 | 50 | |||||
Common stock issued, stock-based compensation plans - shares | 2 | ||||||
Stock-based compensation expense | 66 | 66 | |||||
Repurchases of common stock, Value | (771) | (99) | (672) | ||||
Repurchases of common stock, Shares | (10) | ||||||
Dividends declared, $0.22 per share | (116) | (116) | |||||
AOCI, ending balance at Mar. 31, 2019 | 11,136 | $ 6 | 64 | 11,140 | (74) | ||
Ending balance, shares at Mar. 31, 2019 | 569 | ||||||
AOCI, beginning balance at Dec. 31, 2018 | 11,424 | 2 | $ 6 | 47 | 11,485 | 2 | (114) |
Beginning balance, shares at Dec. 31, 2018 | 577 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 1,447 | ||||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (45) | (45) | |||||
AOCI, ending balance at Sep. 30, 2019 | 10,702 | $ 6 | 35 | 10,820 | (159) | ||
Ending balance, shares at Sep. 30, 2019 | 550 | ||||||
AOCI, beginning balance at Mar. 31, 2019 | 11,136 | $ 6 | 64 | 11,140 | (74) | ||
Beginning balance, shares at Mar. 31, 2019 | 569 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 509 | 509 | |||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 4 | ||||||
Other comprehensive income (loss) | 4 | ||||||
Common stock issued, stock-based compensation plans - value | 40 | 40 | |||||
Common stock issued, stock-based compensation plans - shares | 2 | ||||||
Stock-based compensation expense | 54 | 54 | |||||
Repurchases of common stock, Value | (1,072) | (120) | (952) | ||||
Repurchases of common stock, Shares | (19) | ||||||
Dividends declared, $0.22 per share | (114) | (114) | |||||
AOCI, ending balance at Jun. 30, 2019 | 10,557 | $ 6 | 38 | 10,583 | (70) | ||
Ending balance, shares at Jun. 30, 2019 | 552 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 497 | 497 | |||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (89) | (89) | |||||
Other comprehensive income (loss) | (89) | ||||||
Common stock issued, stock-based compensation plans - value | 37 | 37 | |||||
Common stock issued, stock-based compensation plans - shares | 2 | ||||||
Stock-based compensation expense | 52 | 52 | |||||
Repurchases of common stock, Value | (241) | (92) | (149) | ||||
Repurchases of common stock, Shares | (4) | ||||||
Dividends declared, $0.22 per share | (111) | (111) | |||||
AOCI, ending balance at Sep. 30, 2019 | 10,702 | $ 6 | 35 | 10,820 | (159) | ||
Ending balance, shares at Sep. 30, 2019 | 550 | ||||||
AOCI, beginning balance at Dec. 31, 2019 | $ 11,022 | 1 | $ 5 | 33 | 11,022 | 1 | (38) |
Beginning balance, shares at Dec. 31, 2019 | 548 | 548 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | $ 367 | 367 | |||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (226) | ||||||
Other comprehensive income (loss) | (226) | ||||||
Common stock issued, stock-based compensation plans - value | 40 | 40 | |||||
Common stock issued, stock-based compensation plans - shares | 2 | ||||||
Stock-based compensation expense | 55 | 55 | |||||
Repurchases of common stock, Value | (526) | (87) | (439) | ||||
Repurchases of common stock, Shares | (9) | ||||||
Dividends declared, $0.22 per share | (120) | (120) | |||||
AOCI, ending balance at Mar. 31, 2020 | 10,613 | $ 5 | 41 | 10,831 | (264) | ||
Ending balance, shares at Mar. 31, 2020 | 541 | ||||||
AOCI, beginning balance at Dec. 31, 2019 | $ 11,022 | $ 1 | $ 5 | 33 | 11,022 | $ 1 | (38) |
Beginning balance, shares at Dec. 31, 2019 | 548 | 548 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | $ 1,076 | ||||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (2) | (2) | |||||
AOCI, ending balance at Sep. 30, 2020 | $ 11,140 | $ 5 | 33 | 11,142 | (40) | ||
Ending balance, shares at Sep. 30, 2020 | 539 | 539 | |||||
AOCI, beginning balance at Mar. 31, 2020 | $ 10,613 | $ 5 | 41 | 10,831 | (264) | ||
Beginning balance, shares at Mar. 31, 2020 | 541 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 361 | ||||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 76 | ||||||
Other comprehensive income (loss) | 76 | ||||||
Common stock issued, stock-based compensation plans - value | 36 | 36 | |||||
Common stock issued, stock-based compensation plans - shares | 2 | ||||||
Stock-based compensation expense | 65 | 65 | |||||
Repurchases of common stock, Value | (59) | (59) | 0 | ||||
Repurchases of common stock, Shares | (1) | ||||||
Dividends declared, $0.22 per share | (120) | (120) | |||||
AOCI, ending balance at Jun. 30, 2020 | 10,972 | $ 5 | 83 | 11,072 | (188) | ||
Ending balance, shares at Jun. 30, 2020 | 542 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 348 | ||||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 148 | 148 | |||||
Other comprehensive income (loss) | 148 | ||||||
Common stock issued, stock-based compensation plans - value | 33 | 33 | |||||
Common stock issued, stock-based compensation plans - shares | 1 | ||||||
Stock-based compensation expense | 58 | 58 | |||||
Repurchases of common stock, Value | (297) | (141) | (156) | ||||
Repurchases of common stock, Shares | (4) | ||||||
Dividends declared, $0.22 per share | (122) | (122) | |||||
AOCI, ending balance at Sep. 30, 2020 | $ 11,140 | $ 5 | $ 33 | $ 11,142 | $ (40) | ||
Ending balance, shares at Sep. 30, 2020 | 539 | 539 |
Condensed Consolidated Statemen
Condensed Consolidated Statements Of Cash Flows (Unaudited) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Cash flows from operating activities: | ||
Net income | $ 1,076 | $ 1,447 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 411 | 393 |
Deferred income taxes | 290 | (203) |
Stock-based compensation expense | 178 | 172 |
Other | 107 | 39 |
Changes in assets and liabilities: | ||
Trade accounts receivable | 212 | (176) |
Other current and noncurrent assets | 96 | (80) |
Accounts payable | 83 | 21 |
Deferred revenues, current and noncurrent | (36) | (14) |
Other current and noncurrent liabilities | (16) | (38) |
Net cash provided by operating activities | 2,401 | 1,561 |
Cash flows from investing activities: | ||
Purchases of property and equipment | (309) | (299) |
Purchases of available-for-sale investment securities | 0 | (333) |
Proceeds from maturity or sale of available-for-sale investment securities | 0 | 2,107 |
Purchases of held-to-maturity investment securities | (202) | (423) |
Proceeds from maturity of held-to-maturity investment securities | 373 | 1,281 |
Purchases of other investments | (446) | (460) |
Proceeds from maturity or sale of other investments | 464 | 468 |
Payments for business combinations, net of cash acquired | (1,069) | (378) |
Net cash (used in) provided by investing activities | (1,189) | 1,963 |
Cash flows from financing activities: | ||
Issuance of common stock under stock-based compensation plans | 109 | 127 |
Repurchases of common stock | (833) | (2,084) |
Repayment of Term Loan borrowings and finance lease and earnout obligations | (37) | (16) |
Borrowings under the revolving credit facility | 1,740 | 0 |
Dividends paid | (362) | (343) |
Net cash provided by (used in) financing activities | 617 | (2,316) |
Effect of exchange rate changes on cash and cash equivalents | (38) | (26) |
Increase in cash and cash equivalents | 1,791 | 1,182 |
Cash and cash equivalents, beginning of year | 2,645 | 1,161 |
Cash and cash equivalents, end of period | $ 4,436 | $ 2,343 |
Interim Consolidated Financial
Interim Consolidated Financial Statements | 9 Months Ended |
Sep. 30, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Interim Consolidated Financial Statements | The terms “Cognizant,” “we,” “our,” “us” and “the Company” refer to Cognizant Technology Solutions Corporation and its subsidiaries unless the context indicates otherwise. We have prepared the accompanying unaudited consolidated financial statements included herein in accordance with U.S. GAAP and the Exchange Act. The accompanying unaudited consolidated financial statements should be read in conjunction w ith our audited consolidated financial statements (and notes thereto) included in our Annual Report on Form 10-K for the year ended December 31, 2019. In our opinion, all adjustments considered necessary for a fair statement of the accompanying unaudited consolidated financial statements have been included and all adjustments are of a normal and recurring nature. Operating results for the interim periods are not necessarily indicative of results that may be expected to occur for the entire year. Our unaudited consolidated financial statements presented herein reflect the latest estimates and assumptions made by management that affect the reported amounts of assets and liabilities and related disclosures as of the date of the unaudited consolidated financial statements and reported amounts of revenues and expenses during the reporting periods presented. During the first nine months of 2020, the global COVID-19 pandemic caused significant loss of life and interruption to the global economy, including the curtailment of activities by businesses and consumers in much of the world as governments and others seek to limit the spread of the disease. T he COVID-19 pandemic negatively impacted our results of operations, cash flows and financial position. In addition, the pandemic may affect management's estimates and assumptions of variable consideration in contracts with customers as well as other estimates and assumptions, in particular those that require a projection of our financial results, our cash flows or broader economic conditions, such as the annual effective tax rate, the allowance for doubtful accounts, the recoverability of capitalized deferred charges and the fair values of goodwill, long-lived assets and indefinite-lived intangible assets. For the quarter ended March 31, 2020, we deemed the COVID-19-related deterioration in general economic conditions sufficient to trigger an interim impairment test of goodwill as of March 31, 2020. Our interim test results as of March 31 indicated that the fair values of all of our reporting units exceeded their carrying values and thus, no impairment of goodwill existed as of March 31, 2020. No additional triggers for an interim impairment test have been identified since March 31, 2020. Due to the size of past acquisitions in our healthcare reporting unit, this reporting unit carries the most significant portion of our goodwill balance and has the least amount of excess fair value over its carrying value. Recently Adopted Accounting Pronouncements Date Issued and Topic Date Adopted and Method Description Impact June 2016 January 1, 2020 The new standard requires the measurement and recognition of expected credit losses using the current expected credit loss model for financial assets held at amortized cost, which includes the Company’s trade accounts receivable, certain financial instruments and contract assets. It replaces the existing incurred loss impairment model with an expected loss methodology. The recorded credit losses are adjusted each period for changes in expected lifetime credit losses. The standard requires a cumulative effect adjustment to the statement of financial position as of the beginning of the first reporting period in which the guidance is effective. As a result of the adoption, we recorded an increase to our opening retained earnings and "Trade accounts receivable, net" of $1 million each. Prior year amounts are not adjusted and continue to be reported in accordance with our historical accounting policies. |
Revenues
Revenues | 9 Months Ended |
Sep. 30, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Revenues | Disaggregation of Revenues The tables below present disaggregated revenues from contracts with clients by client location, service line and contract-type for each of our business segments. We believe this disaggregation best depicts how the nature, amount, timing and uncertainty of our revenues and cash flows are affected by industry, market and other economic factors. Revenues are attributed to regions based upon client location. Substantially all revenues in our North America region relate to operations in the United States. We have defined our Financial Services, Healthcare, Products and Resources, and Communications, Media and Technology segments as ("FS"), ("HC"), ("P&R"), and ("CMT"), respectively, in our disaggregation of revenues tables. Three Months Ended Nine Months Ended FS HC P&R CMT Total FS HC P&R CMT Total (in millions) Revenues Geography: North America $ 1,033 $ 1,054 $ 666 $ 426 $ 3,179 $ 3,023 $ 3,091 $ 1,975 $ 1,286 $ 9,375 United Kingdom 123 40 96 86 345 353 116 278 249 996 Continental Europe 181 116 97 43 437 554 317 300 122 1,293 Europe - Total 304 156 193 129 782 907 433 578 371 2,289 Rest of World 132 21 68 61 282 386 58 195 165 804 Total $ 1,469 $ 1,231 $ 927 $ 616 $ 4,243 $ 4,316 $ 3,582 $ 2,748 $ 1,822 $ 12,468 Service line: Consulting and technology services $ 984 $ 725 $ 564 $ 369 $ 2,642 $ 2,864 $ 2,053 $ 1,674 $ 1,055 $ 7,646 Outsourcing services 485 506 363 247 1,601 1,452 1,529 1,074 767 4,822 Total $ 1,469 $ 1,231 $ 927 $ 616 $ 4,243 $ 4,316 $ 3,582 $ 2,748 $ 1,822 $ 12,468 Type of contract: Time and materials $ 932 $ 505 $ 392 $ 372 $ 2,201 $ 2,689 $ 1,448 $ 1,164 $ 1,112 $ 6,413 Fixed-price 450 466 434 218 1,568 1,377 1,292 1,286 638 4,593 Transaction or volume-based 87 260 101 26 474 250 842 298 72 1,462 Total $ 1,469 $ 1,231 $ 927 $ 616 $ 4,243 $ 4,316 $ 3,582 $ 2,748 $ 1,822 $ 12,468 We expect the COVID-19 pandemic to continue to impact demand across all our segments throughout the remainder of 2020 and potentially beyond, with particular impact to our retail and consumer goods clients and our travel and hospitality clients in our Products and Resources segment as well as communications and media clients in our Communications, Media and Technology segment. Three Months Ended Nine Months Ended FS HC P&R CMT Total FS HC P&R CMT Total (in millions) Revenues Geography: North America $ 1,052 $ 1,036 $ 687 $ 448 $ 3,223 $ 3,105 $ 3,084 $ 1,986 $ 1,310 $ 9,485 United Kingdom 117 36 95 77 325 365 90 286 235 976 Continental Europe 192 85 115 38 430 548 247 340 127 1,262 Europe - Total 309 121 210 115 755 913 337 626 362 2,238 Rest of World 131 18 69 52 270 383 53 195 145 776 Total $ 1,492 $ 1,175 $ 966 $ 615 $ 4,248 $ 4,401 $ 3,474 $ 2,807 $ 1,817 $ 12,499 Service line: Consulting and technology services $ 972 $ 634 $ 592 $ 332 $ 2,530 $ 2,832 $ 1,885 $ 1,705 $ 958 $ 7,380 Outsourcing services 520 541 374 283 1,718 1,569 1,589 1,102 859 5,119 Total $ 1,492 $ 1,175 $ 966 $ 615 $ 4,248 $ 4,401 $ 3,474 $ 2,807 $ 1,817 $ 12,499 Type of contract: Time and materials $ 925 $ 472 $ 421 $ 382 $ 2,200 $ 2,764 $ 1,372 $ 1,222 $ 1,136 $ 6,494 Fixed-price 481 420 441 202 1,544 1,422 1,202 1,279 589 4,492 Transaction or volume-based 86 283 104 31 504 215 900 306 92 1,513 Total $ 1,492 $ 1,175 $ 966 $ 615 $ 4,248 $ 4,401 $ 3,474 $ 2,807 $ 1,817 $ 12,499 Costs to Fulfill Costs to fulfill, such as set-up or transition activities, are recorded in "Other noncurrent assets" in our unaudited consolidated statements of financial position and the amortization expense of costs to fulfill is included in "Cost of revenues" in our unaudited consolidated statements of operations. Costs to obtain contracts were immaterial for the period disclosed. The following table presents information related to the capitalized costs to fulfill for the nine months ended September 30: 2020 2019 (in millions) Beginning balance $ 485 $ 400 Amortization expense (71) (58) Costs capitalized 78 143 Impairment (10) — Ending balance $ 482 $ 485 Contract Balances A contract asset is a right to consideration that is conditional upon factors other than the passage of time. Contract assets are presented in "Other current assets" in our unaudited consolidated statements of financial position and primarily relate to unbilled amounts on fixed-price contracts utilizing the cost to cost method of revenue recognition. The table below shows significant movements in contract assets for the nine months ended September 30: 2020 2019 (in millions) Beginning balance $ 334 $ 305 Revenues recognized during the period but not billed 281 340 Amounts reclassified to trade accounts receivable (282) (280) Ending balance $ 333 $ 365 Our contract liabilities, or deferred revenue, consist of advance payments and billings in excess of revenues recognized. The tables below show significant movements in the deferred revenue balances (current and noncurrent) for the nine months ended September 30: 2020 2019 (in millions) Beginning balance $ 336 $ 348 Amounts billed but not recognized as revenues 260 217 Revenues recognized related to the opening balance of deferred revenue (279) (229) Ending balance $ 317 $ 336 Revenues recognized during the three and nine months ended September 30, 2020 for performance obligations satisfied or partially satisfied in previous periods were immaterial. Remaining Performance Obligations As of September 30, 2020, the aggregate amount of transaction price allocated to remaining performance obligations was $1,704 million, approximately 70% of which is expected to be recognized as revenue within 2 years. Disclosure is not required for performance obligations that meet any of the following criteria: (1) contracts with a duration of one year or less as determined under ASC Topic 606: "Revenue from Contracts with Customers", (2) contracts for which we recognize revenues based on the right to invoice for services performed, (3) variable consideration allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct good or service that forms part of a single performance obligation in accordance with ASC 606-10-25-14(b), for which the criteria in ASC 606-10-32-40 have been met, or (4) variable consideration in the form of a sales-based or usage-based royalty promised in exchange for a license of intellectual property. Many of our performance obligations meet one or more of these exemptions and therefore are not included in the remaining performance obligation amount disclosed above. Trade Accounts Receivable and Allowance for Doubtful Accounts We calculate expected credit losses for our trade accounts receivable based on historical credit loss rates for each aging category as adjusted for the current market conditions and forecasts about future economic conditions. The following table presents the activity in the allowance for doubtful accounts for trade accounts receivable: Allowance for Doubtful Accounts (in millions) Balance - December 31, 2019 $ 67 Impact of adoption of the Credit Loss Standard (1) Current-period provision for expected credit losses 18 Write-offs charged against the allowance (11) Balance - September 30, 2020 $ 73 |
Business Combinations
Business Combinations | 9 Months Ended |
Sep. 30, 2020 | |
Business Combinations [Abstract] | |
Business Combinations | During the nine months ended September 30, 2020 , we acquired 100% ownership of: • Code Zero, a provider of consulting and implementation services that strengthens our cloud solutions portfolio and Salesforce Configure-Price-Quote and billing capabilities (acquired on January 31, 2020). • Lev, a Salesforce Platinum Partner specializing in digital marketing consultancy and implementation of custom cloud solutions that further expands our global Salesforce practice (acquired on March 27, 2020). • EI-Technologies, a digital technology consulting firm and leading Salesforce specialist that expands our global Salesforce practice (acquired on May 29, 2020). • Collaborative Solutions, a provider of Workday enterprise cloud applications for finance and human resources that strengthens our portfolio of cloud offerings (acquired on June 10, 2020). • New Signature, an independent Microsoft public cloud transformation company that expands our hyperscale cloud advisory services and provides the foundation for our new, dedicated practice centered on Microsoft cloud solutions (acquired on August 18, 2020). • the net assets of Tin Roof, a custom software and digital product development services company that expands our software product engineering footprint in the United States (acquired on September 16, 2020). • 10 th Magnitude, a leading cloud specialist focused on the Microsoft Azure cloud computing platform that will expand our Microsoft Azure expertise (acquired on September 30, 2020). The allocations of preliminary purchase price to the fair value of the aggregate assets acquired and liabilities assumed in the aforementioned acquisitions were as follows: Collaborative Solutions New Signature Tin Roof 10 th Magnitude Other Total Weighted Average Useful Life (in millions) Cash $ 10 $ 13 $ — $ 2 $ 8 $ 33 Trade accounts receivable 38 16 10 7 18 89 Property and equipment and other assets 6 4 1 2 16 29 Operating lease assets, net 6 7 2 4 12 31 Non-deductible goodwill 44 294 — 90 28 456 Tax-deductible goodwill 281 — 86 39 82 488 Customer relationship intangible assets 37 12 69 10 12 140 11.2 years Other intangible assets 8 — — — 2 10 6.1 years Current liabilities (25) (26) (13) (14) (21) (99) Noncurrent liabilities (5) (8) (1) (6) (13) (33) Purchase price, inclusive of contingent consideration (1) $ 400 $ 312 $ 154 $ 134 $ 144 $ 1,144 (1) The purchase price for Collaborative Solutions includes a contingent consideration component with a maximum payout of $54 million, valued at $38 million at the date of acquisition, which is contingent upon achieving certain performance thresholds during the first two calendar years following the date of acquisition. The allocations are preliminary and will be finalized as soon as practicable within the measurement period, but in no event later than one year following the date of acquisition. The acquisitions completed during the nine months ended September 30, 2020 were not individually or in the aggregate material to our operations or cash flows. Accordingly, pro forma results have not been presented. We have allocated the purchase price related to these transactions to tangible and intangible assets acquired and liabilities assumed, including goodwill, based on their estimate d fair values. Goodwill from these acquisitions is expected to benefit all of our reportable segments and has been allocated as such. The primary items that generated goodwill are the value of the acquired assembled workforces and synergies between the acquired companies and us, neither of which qualify as an identifiable intangible asset. |
Realignment Charges
Realignment Charges | 9 Months Ended |
Sep. 30, 2020 | |
Realignment Charges [Abstract] | |
Realignment Charges | In 2017, we began a realignment program with the objective of improving our client focus, our cost structure and the efficiency and effectiveness of our delivery while continuing to drive revenue growth. In 2019, we announced our 2020 Fit for Growth Plan which involves certain measures to simplify our organizational model and optimize our cost structure in order to partially fund the investments required to execute on our strategy and advance our growth agenda as well as our decision to exit certain content-related services that are not in line with our strategic vision for the Company. The total costs related to our realignment program and our 2020 Fit for Growth Plan are reported in "Restructuring charges" in our unaudited consolidated statements of operations. We do not allocate these charges to individual segments in internal management reports used by the chief operating decision maker. Accordingly, such expenses are included in our segment reporting as “unallocated costs”. See Note 13 . Charges related to our realignment program and our 2020 Fit for Growth Plan were as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 (in millions) Realignment program: Executive Transition Costs $ — $ — $ — $ 22 Employee separation costs — 33 — 60 Employee retention costs — 18 15 18 Professional fees 8 14 25 16 2020 Fit for Growth Plan: Employee separation costs 38 — 103 — Employee retention costs — — 5 — Facility exit costs and other charges (1) 5 — 29 — Total restructuring costs $ 51 $ 65 $ 177 $ 116 (1) Includes $4 million of accelerated depreciation for the nine months ended September 30, 2020. Accelerated depreciation for the three months ended September 30, 2020 was immaterial. The 2020 Fit for Growth Plan charges include $1 million and $20 million for the three and nine months ended September 30, 2020, respectively, of costs incurred related to our exit from certain content-related services. Changes in our accrued employee separation costs included in "Accrued expenses and other current liabilities" in our consolidated statements of financial position are presented in the table below for the nine months ended September 30. 2020 2019 (in millions) Beginning balance $ 47 $ — Employee separation costs accrued 103 60 Payments made (135) (32) Ending balance $ 15 $ 28 |
Investments
Investments | 9 Months Ended |
Sep. 30, 2020 | |
Investments [Abstract] | |
Investments | Our investments were as follows: September 30, 2020 December 31, 2019 (in millions) Short-term investments: Equity investment security $ 27 $ 26 Held-to-maturity investment securities 108 287 Time deposits (1) 4 466 Total short-term investments $ 139 $ 779 Long-term investments: Equity and cost method investments $ 39 $ 17 Time deposits (1) 402 — Total long-term investments $ 441 $ 17 (1) As of September 30, 2020, $402 million in restricted time deposits were classified as long-term. As of December 31, 2019, $414 million in restricted time deposits were classified as short-term. See Note 8 . Equity Investment Securities Our equity investment security is a U.S. dollar denominated investment in an open-ended mutual fund. Realized and unrealized gains and losses were immaterial for the three and nine months ended September 30, 2020 and 2019. Held-to-Maturity Investment Securities Our held-to-maturity investment securities consist of Indian rupee denominated investments primarily in commercial paper, international corporate bonds and government debt securities. Our investment guidelines are to purchase securities that are investment grade at the time of acquisition. The basis for the measurement of fair value of our held-to-maturity investments is Level 2 in the fair value hierarchy. The amortized cost and fair value of held-to-maturity investment securities were as follows: September 30, 2020 December 31, 2019 Amortized Fair Amortized Fair (in millions) Short-term investments, due within one year: Corporate and other debt securities $ 30 $ 30 $ 101 $ 101 Commercial paper 78 78 186 186 Total short-term held-to-maturity investments $ 108 $ 108 $ 287 $ 287 As of September 30, 2020, there were no held-to-maturity investment securities in an unrealized loss position. As of December 31, 2019, commercial paper in the amount of $70 million and corporate and other debt securities in the amount of $42 million were in an unrealized loss position. The total unrealized loss was less than $1 million and none of the securities had been in an unrealized loss position for longer than 12 months. We monitor the credit ratings of the securities in our portfolio on an ongoing basis and evaluate the need for an allowance for expected credit losses. The sec urities in our portfolio are highly rated and short-term in nature. Historically, we have not had any impairment losses on our portfolio. As of September 30, 2020, our corporate and other debt securities were rated AAA and our commercial paper were rated A-1+ by CRISIL, an Indian subsidiary of S&P Global. During the nine months ended September 30, 2020 and the year ended December 31, 2019, there were no transfers of investments between our available-for-sale and held-to-maturity investment portfolios. Equity and Cost Method Investments During 2020, we acquired a $26 million equity method investment in the technology sector. As of September 30, 2020 and December 31, 2019, we had equity method investments of $35 million and $9 million, respectively and cost method investments of $4 million and $8 million, respectively. |
Accrued Expenses And Other Curr
Accrued Expenses And Other Current Liabilities | 9 Months Ended |
Sep. 30, 2020 | |
Payables and Accruals [Abstract] | |
Accrued Expenses And Other Current Liabilities | Accrued expenses and other current liabilities were as follows: September 30, 2020 December 31, 2019 (in millions) Compensation and benefits $ 1,377 $ 1,239 Customer volume and other incentives 321 251 Derivative financial instruments 28 8 Income taxes 122 152 Professional fees 138 137 Travel and entertainment 21 24 Other 333 380 Total accrued expenses and other current liabilities $ 2,340 $ 2,191 |
Debt
Debt | 9 Months Ended |
Sep. 30, 2020 | |
Debt Disclosure [Abstract] | |
Debt | In 2018, we entered int o a Credit Agreement providing for a $750 million Term Loan and a $1,750 million unsecured revolving credit facility. During the first quarter of 2020, we borrowed $1,740 million against our revolving credit facility. Both our Term Loan and the borrowing under our revolving credit facility mature in November 2023. The Credit Agreement requires interest to be paid, at our option, at either the ABR or the Eurocurrency Rate (each as defined in the Cre dit Agreement), plus, in each case, an Applicable Margin (as defined in the Credit Agreement). Initially, the Applicable Margin is 0.875% with respect to Eurocurrency Rate loans and 0.00% with respect to ABR loans. Subsequently, the Applicable Margin with respect to Eurocurrency Rate loans may range from 0.75% to 1.125%, depending on our public debt ratings (or, if we have not received public debt ratings, from 0.875% to 1.125%, depending on our Leverage Ratio, which is the ratio of indebtedness for borrowed money to Consolidated EBITDA, as defined in the Credit Agreement). Our Credit Agreement also provides a mechanism for determining an alternative rate of inter est to the Eurocurrency rate after LIBOR is no longer available. The outstanding balance under our revolving credit facility as of September 30, 2020 is a Eurocurrency Rate loan with an Interest Period (as defined in the Credit Agreement) of one month . We are required under the Credit Agreement to make scheduled quarterly principal payments on the Term Loan. The Credit Agreement contains customary affirmative and negative covenants as well as a financial covenant. We were in compliance with all debt covenants and representations as of September 30, 2020. In February 2020, our Ind ia subsidiary renewed its 13 billion Indian rupee ( $177 million at the September 30, 2020 exchange rate) working capital facility, which requires us to repay any balances within 90 days from the date of disbursement. There is a 1.0% prepayment penalty applicable to payments made prior to 30 days after disbursement. This working capital facility contains affirmative and negative covenants and may be renewed annually in February. As of September 30, 2020, we have not borrowed funds under this facility. Short-term Debt As of both September 30, 2020 and December 31, 2019, we had $38 million of short-term debt related to current maturities of our Term Loan. Long-term Debt The following summarizes our long-term debt balances as of: September 30, 2020 December 31, 2019 (in millions) Notes outstanding under revolving credit facility $ 1,740 $ — Term Loan 713 741 Less: Current maturities - Term Loan (38) (38) Deferred financing costs (3) (3) Long-term debt, net of current maturities $ 2,412 $ 700 The carrying value of our debt approximated its fair value as of September 30, 2020 and December 31, 2019. |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Our effective income tax rates were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Effective income tax rate 44.2 % 24.3 % 33.9 % 24.5 % In March 2020, the Indian parliament enacted the Budget of India, which contained a number of provisions related to income tax, including a replacement of the DDT, previously due from the dividend payer, with a tax payable by the shareholder receiving the dividend. This provision reduced the tax rate applicable to us for cash repatriated from India. Following this change, during the first quarter of 2020, we limited our indefinite reinvestment assertion to India earnings accumulated in prior years. In July 2020, the U.S. Treasury Department and the Internal Revenue Service released final regulations, which became effective in September 2020, that reduced the tax applicable on our accumulated Indian earnings upon repatriation. As a result, during the third quarter of 2020, after a thorough analysis of the impact of these changes in law on the cost of earnings repatriation and considering our strategic decision to increase our investments to accelerate growth in various international markets and expand our global delivery footprint, we reversed our indefinite reinvestment assertion on Indian earnings accumulated in prior years and recorded a $140 million Tax on Accumulated Indian Earnings. The recorded income tax expense reflects the India withholding tax on unrepatriated Indian earnings, which were $5.2 billion as of December 31, 2019, net of applicable U.S. foreign tax credits. On October 28, 2020, our subsidiary in India remitted a dividend of $2.1 billion, which resulted in a net payment of $2.0 billion to its shareholders (non-Indian Cognizant entities), after payment of $105 million of India withholding tax. We are involved in an ongoing dispute with the ITD in connection with a previously disclosed 2016 share repurchase transa ction undertaken by CTS India to repurchase shares from its shareholders (non-Indian Cognizant entities) valued at $2.8 billion. As a result of that transaction, which was undertaken pursuant to a plan approved by the High Court in Chennai, India, we previously paid $135 million in Indian income taxes - an amount we believe includes all the applicable taxes owed for this transaction under Indian law. In March 2018, we received a communication from the ITD asserting that the ITD is owed an additional 33 billion Indian rupees ( $449 million at the September 30, 2020 exchange rate) on the 2016 transaction. Immediately thereafter, the ITD placed a n attachment on certain of our India bank accounts. In addition to the dispute on the 2016 transaction, we are also involved in another ongoing dispute with the ITD relating to a 2013 transaction undertaken by CTS India to repurchase shares from its shareholders va lued at $523 million (the two disputes are collectively referred to as the "ITD Dispute"). In April 2018, the High Court admitted our writ petition for a stay of the actions of the ITD and lifted the ITD’s attachment on our bank accounts. As part of the interim stay order, we deposit ed 5 billion Indian rupees ( $67 million at the September 30, 2020 exchange rate and $70 million at the December 31, 2019 exchange rate) representing 15% of the disputed tax amount related to the 2016 transaction, with the ITD. In addition, the High Court placed a lien on certain time deposits of CTS India in the amount of 28 billion Indian rupees ( $382 million at the September 30, 2020 exchange rate and $393 million at the December 31, 2019 exchange rate), which is the remainder of the disputed tax amount related to the 2016 transaction. In June 2019, the High Court dismissed our previously admitted writ petitions on the ITD Dispute, holding that the Company must exhaust other remedies, such as pursuing the matter before other appellate bodies, for resolution of the ITD Dispute prior to intervention by the High Court. The High Court did not issue a ruling on the substantive issue of whether we owe additional tax as a result of either the 2016 or the 2013 transaction. In July 2019, we appealed the High Court’s orders before the Division Bench. In September 2019, the Division Bench partly allowed the Company’s appeal with respect to the 2016 transaction, but did not issue a ruling on the substantive issue of the tax implications of the transactions. In October 2019, we filed a Special Leave Petition before the SCI with respect to the 2016 transaction. In March 2020, the SCI referred the case based on the 2016 transaction back to the ITD with directions to carry out the assessment following the due process of law. Further, until the conclusion of the assessment, the SCI maintained in place the lien on our 28 billion Indian rupees time deposit and did not order the release of the 5 billion Indian rupees deposit held by the ITD. In April 2020, we received an assessment from the ITD, which is consistent with its previous assertions regarding our 2016 transaction. In June 2020 we filed an appeal against this assessment. The ruling of the SCI and the ITD's assessment created additional uncertainty as to the timing of the resolution of this case and, as a result, in the first quarter of 2020 we reclassified the deposits under lien, which are considered restricted assets, and the deposit with the ITD to noncurrent assets. As of September 30, 2020 and December 31, 2019, the balance of deposits under lien was $402 million presented in "Long-term investments" and $414 million presented in "Short-term investments", respectively, including a portion of the interest previously earned. As of September 30, 2020 and December 31, 2019, the deposit with the ITD was $67 million presented in "Other noncurrent assets" and $70 million presented in "Other current assets", respectively. We believe we have paid all applicable taxes owed on both the 2016 and the 2013 transactions. Accordingly, we have not recorded any reserves for these matters as of September 30, 2020. |
Derivative Financial Instrument
Derivative Financial Instruments | 9 Months Ended |
Sep. 30, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | In the normal course of business, we use foreign exchange forward and option contracts to manage foreign currency exchange rate risk. Derivatives may give rise to credit risk from the possible non-performance by counterparties. Credit risk is limited to the fair value of those contracts that are favorable to us. We have limited our credit risk by limi ting the amount of credit exposure with any one financial institution and conducting ongoing evaluation of the creditworthiness of the financial institutions with which we do business. In addition, all the assets and liabilities related to our foreign exchange derivative contracts set forth in the below table are subject to master netting arrangements, such as the International Swaps and Derivatives Association, with each individual counterparty. These master netting arrangements generally provide for net settlement of all outstanding contracts with the counterparty in the case of an event of default or a termination event. We have presented all the assets and liabilities related to our foreign exchange derivative contracts, as applicable, on a gross basis, with no offsets, in our unaudited consolidated statements of financial position. There is no financial collateral (including cash collateral) posted or received by us related to our foreign exchange derivative contracts. The following table provides information on the location and fair values of derivative financial instruments included in our unaudited consolidated statements of financial position as of: September 30, 2020 December 31, 2019 Designation of Derivatives Location on Statements of Assets Liabilities Assets Liabilities (in millions) Foreign exchange forward and option contracts – Designated as cash flow hedging instruments Other current assets $ 29 $ — $ 32 $ — Other noncurrent assets 16 — 8 — Accrued expenses and other current liabilities — 2 — 7 Other noncurrent liabilities — — — 2 Total 45 2 40 9 Foreign exchange forward contracts – Not designated as hedging instruments Other current assets 3 — 3 — Accrued expenses and other current liabilities — 26 — 1 Total 3 26 3 1 Total $ 48 28 $ 43 $ 10 Cash Flow Hedges We have entered into a series of foreign exchange derivative contracts that are designated as cash flow hedges of Indian rupee denominated payments in India. These contracts are intended to partially offset the impact of movement of the Indian rupee against the U.S. dollar on future operating costs and are scheduled to mature each month during the remainder of 2020, 2021 and the first nine months of 2022. The changes in fair value of these contracts are initially reported in "Accumulated other comprehensive income (loss)" in our unaudited consolidated statements of financial position and are subsequently reclassified to earnings within the captions "Cost of revenues" and "Selling, general and administrative expenses" in our unaudited consolidated statements of operations in the same period that the forecasted Indian rupee denominated payments are recorded in earnings. As of September 30, 2020, we estimate that $19 million , net of tax , of net gains related to derivatives designated as cash flow hedges reported in "Accumulated other comprehensive income (loss)" in our unaudited consolidated statements of financial position is expected to be reclassified into earnings within the next 12 months. The notional value of our outstanding contracts by year of maturity and the net unrealized gains and losses included in the caption "Accumulated other comprehensive income (loss)" in our unaudited consolidated statements of financial position, for our cash flow hedges, were as follows: September 30, December 31, 2019 (in millions) 2020 $ 400 $ 1,505 2021 1,315 883 2022 548 — Total notional value of contracts outstanding (1) $ 2,263 $ 2,388 Net unrealized gains included in accumulated other comprehensive income (loss), net of taxes $ 31 $ 26 (1) Includes $128 million notional value of option contracts as of September 30, 2020, with the remaining notional value related to forward contracts. The following table provides information on the location and amounts of pre-tax gains and losses on our cash flow hedges for the three months ended September 30: Change in Location of Net Gains Reclassified Net Gains Reclassified 2020 2019 2020 2019 (in millions) Foreign exchange forward and option contracts – Designated as cash flow hedging instruments $ 77 $ (28) Cost of revenues $ 5 $ 1 SG&A expenses 1 1 Total $ 6 $ 2 The following table provides information on the location and amounts of pre-tax gains and losses on our cash flow hedges for the nine months ended September 30: Change in Location of Net (Losses) Gains Reclassified Net (Losses) Gains Reclassified 2020 2019 2020 2019 (in millions) Foreign exchange forward and option contracts – Designated as cash flow hedging instruments $ (1) $ 30 Cost of revenues $ (7) $ 1 SG&A expenses (1) 1 Total $ (8) $ 2 The activity related to the change in net unrealized gains and losses on our cash flow hedges included in "Accumulated other comprehensive income (loss)" in our unaudited consolidated statements of stockholders equity is presented in Note 11 . Other Derivatives We use foreign exchange forward contracts to provide an economic hedge against balance sheet exposures to certain monetary assets and liabilities denominated in currencies other than the functional currency of our foreign subsidiaries, primarily th e Indian rupee and the Euro. We entered into foreign exchange forward contracts that are scheduled to mature in 2020. Realized gains or losses and changes in the estimated fair value of these derivative financial instruments are recorded in the caption "Foreign currency exchange gains (losses), net" in our consolidated statements of operations. Additional information related to our outstanding foreign exchange forward contracts not designated as hedging instruments was as follows: September 30, 2020 December 31, 2019 Notional Fair Value Notional Fair Value (in millions) Contracts outstanding $ 2,575 $ (23) $ 702 $ 2 The following table provides information on the location and amounts of realized and unrealized pre-tax gains and losses on our other derivative financial instruments for the three and nine months ended September 30: Location of Net (Losses) Gains on Amount of Net (Losses) Gains on Derivative Instruments Three Months Ended Nine Months Ended 2020 2019 2020 2019 (in millions) Foreign exchange forward contracts – Not designated as hedging instruments Foreign currency exchange gains (losses), net $ (57) $ 6 $ (54) $ 1 The related cash flow impacts of all of our derivative activities are reflected as cash flows from operating activities. |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | We measure our cash equivalents, certain investments, contingent consideration liabilities and foreign exchange forward and option contracts at fair value. The authoritative guidance defines fair value as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. The authoritative guidance also establishes a fair value hierarchy that is intended to increase consistency and comparability in fair value measurements and related disclosures. The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources while unobservable inputs reflect a reporting entity’s pricing based upon their own market assumptions. The fair value hierarchy consists of the following three levels: • Level 1 – Inputs are quoted prices in active markets for identical assets or liabilities. • Level 2 – Inputs are quoted prices for similar assets or liabilities in an active market, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable and market-corroborated inputs which are derived principally from or corroborated by observable market data. • Level 3 – Inputs are derived from valuation techniques in which one or more significant inputs or value drivers are unobservable. The following table summarizes our financial assets and (liabilities) measured at fair value on a recurring basis as of September 30, 2020: Level 1 Level 2 Level 3 Total (in millions) Cash equivalents: Money market funds $ 2,513 $ — $ — $ 2,513 Time deposits — 578 — 578 Short-term investments: Time deposits — 4 — 4 Equity investment security 27 — — 27 Other current assets: Foreign exchange forward and option contracts — 32 — 32 Long-term investments: Time deposits (1) — 402 — 402 Other noncurrent assets Foreign exchange forward and option contracts — 16 — 16 Accrued expenses and other current liabilities: Foreign exchange forward contracts — (28) — (28) Contingent consideration liabilities — — (11) (11) Other noncurrent liabilities: Contingent consideration liabilities — — (42) (42) (1) Balance represents restricted time deposits. See Note 8 . The following table summarizes our financial assets and (liabilities) measured at fair value on a recurring basis as of December 31, 2019: Level 1 Level 2 Level 3 Total (in millions) Cash equivalents: Money market funds $ 1,646 $ — $ — $ 1,646 Short-term investments: Time deposits (1) — 466 — 466 Equity investment security 26 — — 26 Other current assets: Foreign exchange forward contracts — 35 — 35 Other noncurrent assets: Foreign exchange forward contracts — 8 — 8 Accrued expenses and other current liabilities: Foreign exchange forward contracts — (8) — (8) Contingent consideration liabilities — — (8) (8) Other noncurrent liabilities: Foreign exchange forward contracts — (2) — (2) Contingent consideration liabilities — — (30) (30) (1) Includes $414 million in restricted time deposits. See Note 8 . We measure the fair value of money market funds based on quoted prices in active markets for identical assets and measure the fair value of our equity security based on the published daily net asset value at which investors can freely subscribe to or redeem from the fund. The carrying value of our time deposits approximated fair value as of September 30, 2020 and December 31, 2019. We estimate the fair value of each foreign exchange forward contract by using a present value of expected cash flows model. This model calculates the difference between the current market forward price and the contracted forward price for each foreign exchange contract and applies the difference in the rates to each outstanding contract. The market forward rates include a discount and credit risk factor. We estimate the fair value of each foreign exchange option contract by using a variant of the Black-Scholes model. This model uses present value techniques and reflects the time value and intrinsic value based on observable market rates. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2020 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | Changes in accumulated other comprehensive income (loss) by component were as follows for the three and nine months ended September 30, 2020: Three Months Nine Months Before Tax Tax Net of Tax Before Tax Tax Net of Tax (in millions) Foreign currency translation adjustments: Beginning balance $ (165) $ 4 $ (161) $ (63) $ (1) $ (64) Change in foreign currency translation adjustments 93 (3) 90 (9) 2 (7) Ending balance $ (72) $ 1 $ (71) $ (72) $ 1 $ (71) Unrealized (losses) gains on cash flow hedges: Beginning balance $ (33) $ 6 $ (27) $ 31 $ (5) $ 26 Unrealized gains (losses) arising during the period 77 (14) 63 (1) (1) (2) Reclassifications of net (gains) losses to: Cost of revenues (5) 1 (4) 7 (1) 6 SG&A expenses (1) — (1) 1 — 1 Net change 71 (13) 58 7 (2) 5 Ending balance $ 38 $ (7) $ 31 $ 38 $ (7) $ 31 Accumulated other comprehensive income (loss): Beginning balance $ (198) $ 10 $ (188) $ (32) $ (6) $ (38) Other comprehensive income (loss) 164 (16) 148 (2) — (2) Ending balance $ (34) $ (6) $ (40) $ (34) $ (6) $ (40) Changes in accumulated other comprehensive income (loss) by component were as follows for the three and nine months ended September 30, 2019: Three Months Nine Months Before Tax Tax Net of Tax Before Tax Tax Net of Tax (in millions) Foreign currency translation adjustments: Beginning balance $ (117) $ 3 $ (114) $ (108) $ 5 $ (103) Change in foreign currency translation adjustments (64) (1) (65) (73) (3) (76) Ending balance $ (181) $ 2 $ (179) $ (181) $ 2 $ (179) Unrealized (losses) on available-for-sale investment securities: Beginning balance $ — $ — $ — $ (12) $ 4 $ (8) Net unrealized gains arising during the period — — — 13 (4) 9 Reclassification of net gains to Other, net — — — (1) — (1) Net change — — — 12 (4) 8 Ending balance $ — $ — $ — $ — $ — $ — Unrealized gains (losses) on cash flow hedges: Beginning balance $ 54 $ (10) $ 44 $ (4) $ 1 $ (3) Unrealized (losses) gains arising during the period (28) 5 (23) 30 (6) 24 Reclassifications of net (gains) to: Cost of revenues (1) — (1) (1) — (1) SG&A expenses (1) 1 — (1) 1 — Net change (30) 6 (24) 28 (5) 23 Ending balance $ 24 $ (4) $ 20 $ 24 $ (4) $ 20 Accumulated other comprehensive income (loss): Beginning balance $ (63) $ (7) $ (70) $ (124) $ 10 $ (114) Other comprehensive income (loss) (94) 5 (89) (33) (12) (45) Ending balance $ (157) $ (2) $ (159) $ (157) $ (2) $ (159) |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | We are involved in various claims and legal proceedings arising in the ordinary course of business. We accrue a liability when a loss is considered probable and the amount can be reasonably estimated. When a material loss contingency is reasonably possible but not probable, we do not record a liability, but instead disclose the nature and the amount of the claim, and an estimate of the loss or range of loss, if such an estimate can be made. Legal fees are expensed as incurred. While we do not expect that the ultimate resolution of any existing claims and proceedings (other than the specific matters described below, if decided adversely), individually or in the aggregate, will have a material adverse effect on our financial position, an unfavorable outcome in some or all of these proceedings could have a material adverse impact on results of operations or cash flows for a particular period. This assessment is based on our current understanding of relevant facts and circumstances. As such, our view of these matters is subject to inherent uncertainties and may change in the future. On January 15, 2015, Syntel sued TriZetto and Cognizant in the United States District Court for the Southern District of New York. Syntel’s complaint alleged breach of contract against TriZetto, and tortious interference and misappropriation of trade secrets against Cognizant and TriZetto, stemming from Cognizant’s hiring of certain former Syntel employees. Cognizant and TriZetto countersued on March 23, 2015, for breach of contract, misappropriation of trade secrets and tortious interference, based on Syntel’s misuse of TriZetto confidential information and abandonment of contractual obligations. Cognizant and TriZetto subsequently added Federal Defend Trade Secrets Act and copyright infringement claims for Syntel’s misuse of TriZetto’s proprietary technology. The parties’ claims were narrowed by the court and the case was tried before a jury, which on October 27, 2020 returned a verdict in favor of Cognizant in the amount of $854 million, including $570 million in punitive damages. We expect Syntel to appeal the decision and thus we will not record the gain in our financial statements until it becomes realizable. On April 20, 2020, we announced a security incident involving a Maze ransomware attack. As previously reported in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, based on numerous remediation steps that have been undertaken and our continued monitoring of our environment, we believe we have contained the attack and eradicated remnants of the attacker activity from our environment. Based on our investigation, we believe the attack principally impacted certain of our systems and data. The attack resulted in unauthorized access to certain data and caused significant disruption to our business. This included the disabling of some of our systems and disruption caused by our taking certain other internal systems and networks offline as a precautionary measure. The attack compounded the challenges we faced in enabling work-from-home arrangements during the COVID-19 pandemic and resulted in setbacks and delays to such efforts. The impact to clients and their responses to the security incident varied. Some clients experienced no disruption. As to other clients, we experienced service disruptions due to our reliance on certain of the impacted systems and networks to perform work for clients and the impact to our systems and networks supporting work-from-home capabilities. The systems that comprise the technology platforms that support our business process-as-a-service solutions were not impacted. Most clients maintained connectivity with our network, allowing us to continue to provide service, but some clients opted to suspend our access to their networks as a security precaution. In this circumstance, we were unable to continue providing services via client networks until access was restored. We engaged leading outside forensics and cybersecurity experts, launched a comprehensive containment and remediation effort and forensic investigation, restored the security of our internal systems and networks and are adopting various enhancements to the security of our systems and networks. We also notified and are coordinating with law enforcement. The lost revenue and containment, investigation, remediation, legal and other costs may exceed our insurance policy limits or may not be covered by insurance at all. Further, we may be subject to regulatory enforcement actions and litigation that could result in financial judgments or the payment of settlement amounts, and disputes with insurance carriers concerning coverage. On February 28, 2019, a ruling of the Supreme Court of India interpreting the India Defined Contribution Obligation altered historical understandings of the obligation, extending it to cover additional portions of the employee’s income. As a result, the ongoing contributions of our affected employees and the Company were required to be increased. In the first quarter of 2019, we accrued $117 million with respect to prior periods, assuming retroactive application of the Supreme Court’s ruling, in "Selling, general and administrative expenses" in our unaudited consolidated statement of operations. There is significant uncertainty as to how the liability should be calculated as it is impacted by multiple variables, including the period of assessment, the application with respect to certain current and former employees and whether interest and penalties may be assessed. Since the ruling, a variety of trade associations and industry groups have advocated to the Indian government, highlighting the harm to the information technology sector, other industries and job growth in India that would result from a retroactive application of the ruling. It is possible the Indian government will review the matter and there is a substantial question as to whether the Indian government will apply the Supreme Court’s ruling on a retroactive basis. As such, the ultimate amount of our obligation may be materially different from the amount accrued. On October 5, 2016, October 27, 2016 and November 18, 2016, three putative securities class action complaints were filed in the United States District Court for the District of New Jersey, naming us and certain of our current and former officers as defendants. These complaints were consolidated into a single action and on April 7, 2017, the lead plaintiffs filed a consolidated amended complaint on behalf of a putative class of persons and entities who purchased our common stock during the period between February 27, 2015 and September 29, 2016, naming us and certain of our current and former officers as defendants and alleging violations of the Exchange Act, based on allegedly false or misleading statements related to potential violations of the Foreign Corrupt Practices Act, our business, prospects and operations, and the effectiveness of our internal controls over financial reporting and our disclosure controls and procedures. The lead plaintiffs seek an award of compensatory damages, among other relief, and their reasonable costs and expenses, including attorneys’ fees. Defendants filed a motion to dismiss the consolidated amended complaint on June 6, 2017. On August 8, 2018, the United States District Court for the District of New Jersey issued an order which granted the motion to dismiss in part, including dismissal of all claims against current officers of the Company, and denied them in part. On September 7, 2018, we filed a motion in the United States District Court for the District of New Jersey to certify the August 8, 2018 order for immediate appeal to the United States Court of Appeals for the Third Circuit pursuant to 28 U.S.C. § 1292(b). On October 18, 2018, the District Court issued an order granting our motion, and staying the action pending the outcome of our appeal petition to the Third Circuit. On October 29, 2018, we filed a petition for permission to appeal with the United States Court of Appeals for the Third Circuit. On March 6, 2019, the Third Circuit denied our petition without prejudice. In an order dated March 19, 2019, the District Court directed the lead plaintiffs to provide the defendants with a proposed amended complaint. On April 26, 2019, lead plaintiffs filed their second amended complaint. We filed a motion to dismiss the second amended complaint on June 10, 2019. On June 7, 2020, the District Court issued an order denying our motion to dismiss the second amended complaint. On July 10, 2020, we filed our answer to the second amended complaint. On July 23, 2020, the United States Department of Justice filed a motion on consent for leave to intervene and to stay all discovery through the conclusion of the criminal proceedings in United States v. Gordon J. Coburn and Steven Schwartz , Crim. No. 19-120 (KM), except for documents produced by us to the Department of Justice in connection with those criminal proceedings. On July 24, 2020, the District Court granted the Department of Justice’s motion; and on that same day, we filed a motion in the District Court to certify the June 7, 2020 order for immediate appeal to the Third Circuit pursuant to 28 U.S.C. 1292(b), which motion is now fully briefed. On October 31, 2016, November 15, 2016 and November 18, 2016, three putative shareholder derivative complaints were filed in New Jersey Superior Court, Bergen County, naming us, all of our then current directors and certain of our current and former officers as defendants. These actions were consolidated in an order dated January 24, 2017. The complaints assert claims for breach of fiduciary duty, corporate waste, unjust enrichment, abuse of control, mismanagement, and/or insider selling by defendants. On March 16, 2017, the parties filed a stipulation deferring all further proceedings pending a final, non-appealable ruling on the then anticipated motion to dismiss the consolidated putative securities class action. On April 26, 2017, in lieu of ordering the stipulation filed by the parties, the New Jersey Superior Court deferred further proceedings by dismissing the consolidated putative shareholder derivative litigation without prejudice but permitting the parties to file a motion to vacate the dismissal in the future. On February 22, 2017, April 7, 2017 and May 10, 2017, three additional putative shareholder derivative complaints alleging similar claims were filed in the United States District Court for the District of New Jersey, naming us and certain of our current and former directors and officers as defendants. These complaints asserted claims similar to those in the previously-filed putative shareholder derivative actions. In an order dated June 20, 2017, the United States District Court for the District of New Jersey consolidated these actions into a single action, appointed lead plaintiff and lead counsel, and stayed all further proceedings pending a final, non-appealable ruling on the motions to dismiss the consolidated putative securities class action. On October 30, 2018, lead plaintiff filed a consolidated verified derivative complaint. On March 11, 2019, a seventh putative shareholder derivative complaint was filed in the United States District Court for the District of New Jersey, naming us, certain of our current and former directors, and certain of our current and former officers as defendants. The complaint in that action asserts claims similar to those in the previously-filed putative shareholder derivative actions. On May 14, 2019, the United States District Court for the District of New Jersey approved a stipulation that (i) consolidated this action with the putative shareholder derivative suits that were previously filed in the United States District Court for the District of New Jersey; and (ii) stayed all of these suits pending order on the motion to dismiss the second amended complaint in the securities class action. On August 3, 2020, lead plaintiffs filed an amended complaint. We are presently unable to predict the duration, scope or result of the consolidated putative securities class action, the putative shareholder derivative actions or any other lawsuits. As such, we are presently unable to develop a reasonable estimate of a possible loss or range of losses, if any, and thus have not recorded any accruals related to these matters. While the Company intends to defend the lawsuits vigorously, these lawsuits and any other related lawsuits are subject to inherent uncertainties, the actual cost of such litigation will depend upon many unknown factors and the outcome of the litigation is necessarily uncertain. We have indemnification and expense advancement obligations pursuant to our bylaws and indemnification agreements with respect to certain current and former members of senior management and the Company’s directors. In connection with the matters that were the subject of our previously disclosed internal investigation, the United States Department of Justice and SEC investigations and the related litigation, we have received and expect to continue to receive requests under such indemnification agreements and our bylaws to provide funds for legal fees and other expenses. We have expensed such costs incurred through September 30, 2020. We have maintained directors and officers insurance and have recorded an insurance receivable of $7 million as of September 30, 2020, reported in "Other current assets," in our unaudited consolidated statement of financial position related to the recovery of a portion of the indemnification expenses and costs related to the putative securities class action complaints. We are unable to make a reliable estimate of the eventual cash flows by period related to the indemnification and expense advancement obligations described here. See Note 8 for information relating to the ITD Dispute. Many of our engagements involve projects that are critical to the operations of our clients’ business and provide benefits that are difficult to quantify. Any failure in a client’s systems or our failure to meet our contractual obligations to our clients, including any breach involving a client’s confidential information or sensitive data, or our obligations under applicable laws or regulations could result in a claim for substantial damages against us, regardless of our responsibility for such failure. Although |
Segment Information
Segment Information | 9 Months Ended |
Sep. 30, 2020 | |
Segment Reporting [Abstract] | |
Segment Information | Our reportable segments are: • Financial Services, which consists of our banking and insurance operating segments; • Healthcare, which consists of our healthcare and life sciences operating segments; • Products and Resources, which consists of our retail and consumer goods; manufacturing, logistics, energy, and utilities; and travel and hospitality operating segments; • Communications, Media and Technology, which includes our communications and media operating segment and our technology operating segment. Our sales managers, account executives, account managers and project teams are aligned in accordance with the specific industries they serve. Our chief operating decision maker evaluates the Company's performance and allocates resources based on segment revenues and operating profit. Segment operating profit is defined as income from operations before unallocated costs. Generally, operating expenses for each operating segment have similar characteristics and are subject to the same factors, pressures and challenges. However, the economic environment and its effects on industries served by our operating segments may affect revenues and operating expenses to differing degrees. Expenses included in segment operating profit consist principally of direct selling and delivery costs (including stock-based compensation expense) as well as a per employee charge for use of our global delivery centers and infrastructure. Certain SG&A expenses, the excess or shortfall of incentive-based compensation for commercial and delivery personnel as compared to target, restructuring costs, COVID-19 Charges, costs related to the ransomware attack , a portion of depreciation and amortization and the impact of the settlements of our cash flow hedges are not allocated to individual segments in internal management reports used by the chief operating decision maker. Accordingly, such expenses are excluded from segment operating profit and are included below as “unallocated costs” and adjusted against our total income from operatio ns. The incremental accrual related to the India Defined Contribution Obligation recorded in the first quarter of 2019 has been excluded from segment operating profits for the nine months ended September 30, 2019 and is included in "unallocated costs" in the table below. Additionally, management has determined that it is not practical to allocate identifiable assets by segment, since such assets are used interchangeably among the segments. For revenues by reportable segment and geographic area, please see Note 2 . Segment operating profits by reportable segment were as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 (in millions) Financial Services $ 463 418 $ 1,209 $ 1,225 Healthcare 378 312 1,004 963 Products and Resources 307 274 805 763 Communications, Media and Technology 191 186 555 544 Total segment operating profit 1,339 1,190 3,573 3,495 Less: unallocated costs 736 521 1,924 1,668 Income from operations $ 603 $ 669 $ 1,649 $ 1,827 Geographic Area Information Long-lived assets by geographic area are as follows: As of September 30, 2020 December 31, 2019 (in millions) Long-lived Assets: (1) North America (2) $ 412 $ 445 Europe 109 104 Rest of World (3) 792 760 Total $ 1,313 $ 1,309 (1) Long-lived assets include property and equipment, net of accumulated depreciation and amortization. (2) Substantially all relates to the United States. (3) Substantially all relates to India. |
Subsequent Events (Notes)
Subsequent Events (Notes) | 9 Months Ended |
Sep. 30, 2020 | |
Subsequent Events [Abstract] | |
Subsequent Events | DividendOn October 28, 2020, our Board of Directors approved the Company's declaration of a $0.22 per share dividend with a record date of November 19, 2020 and a payment date of November 30, 2020 |
Interim Consolidated Financia_2
Interim Consolidated Financial Statements (Policies) | 9 Months Ended |
Sep. 30, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Recently Adopted/New Accounting Pronouncements | Recently Adopted Accounting Pronouncements Date Issued and Topic Date Adopted and Method Description Impact June 2016 January 1, 2020 The new standard requires the measurement and recognition of expected credit losses using the current expected credit loss model for financial assets held at amortized cost, which includes the Company’s trade accounts receivable, certain financial instruments and contract assets. It replaces the existing incurred loss impairment model with an expected loss methodology. The recorded credit losses are adjusted each period for changes in expected lifetime credit losses. The standard requires a cumulative effect adjustment to the statement of financial position as of the beginning of the first reporting period in which the guidance is effective. As a result of the adoption, we recorded an increase to our opening retained earnings and "Trade accounts receivable, net" of $1 million each. Prior year amounts are not adjusted and continue to be reported in accordance with our historical accounting policies. |
Revenues (Tables)
Revenues (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Capitalized Costs to Fulfill Contract with Customer | Costs to fulfill, such as set-up or transition activities, are recorded in "Other noncurrent assets" in our unaudited consolidated statements of financial position and the amortization expense of costs to fulfill is included in "Cost of revenues" in our unaudited consolidated statements of operations. Costs to obtain contracts were immaterial for the period disclosed. The following table presents information related to the capitalized costs to fulfill for the nine months ended September 30: 2020 2019 (in millions) Beginning balance $ 485 $ 400 Amortization expense (71) (58) Costs capitalized 78 143 Impairment (10) — Ending balance $ 482 $ 485 |
Contract with Customer, Asset and Liability | The table below shows significant movements in contract assets for the nine months ended September 30: 2020 2019 (in millions) Beginning balance $ 334 $ 305 Revenues recognized during the period but not billed 281 340 Amounts reclassified to trade accounts receivable (282) (280) Ending balance $ 333 $ 365 2020 2019 (in millions) Beginning balance $ 336 $ 348 Amounts billed but not recognized as revenues 260 217 Revenues recognized related to the opening balance of deferred revenue (279) (229) Ending balance $ 317 $ 336 |
Disaggregation of Revenue | Three Months Ended Nine Months Ended FS HC P&R CMT Total FS HC P&R CMT Total (in millions) Revenues Geography: North America $ 1,033 $ 1,054 $ 666 $ 426 $ 3,179 $ 3,023 $ 3,091 $ 1,975 $ 1,286 $ 9,375 United Kingdom 123 40 96 86 345 353 116 278 249 996 Continental Europe 181 116 97 43 437 554 317 300 122 1,293 Europe - Total 304 156 193 129 782 907 433 578 371 2,289 Rest of World 132 21 68 61 282 386 58 195 165 804 Total $ 1,469 $ 1,231 $ 927 $ 616 $ 4,243 $ 4,316 $ 3,582 $ 2,748 $ 1,822 $ 12,468 Service line: Consulting and technology services $ 984 $ 725 $ 564 $ 369 $ 2,642 $ 2,864 $ 2,053 $ 1,674 $ 1,055 $ 7,646 Outsourcing services 485 506 363 247 1,601 1,452 1,529 1,074 767 4,822 Total $ 1,469 $ 1,231 $ 927 $ 616 $ 4,243 $ 4,316 $ 3,582 $ 2,748 $ 1,822 $ 12,468 Type of contract: Time and materials $ 932 $ 505 $ 392 $ 372 $ 2,201 $ 2,689 $ 1,448 $ 1,164 $ 1,112 $ 6,413 Fixed-price 450 466 434 218 1,568 1,377 1,292 1,286 638 4,593 Transaction or volume-based 87 260 101 26 474 250 842 298 72 1,462 Total $ 1,469 $ 1,231 $ 927 $ 616 $ 4,243 $ 4,316 $ 3,582 $ 2,748 $ 1,822 $ 12,468 We expect the COVID-19 pandemic to continue to impact demand across all our segments throughout the remainder of 2020 and potentially beyond, with particular impact to our retail and consumer goods clients and our travel and hospitality clients in our Products and Resources segment as well as communications and media clients in our Communications, Media and Technology segment. Three Months Ended Nine Months Ended FS HC P&R CMT Total FS HC P&R CMT Total (in millions) Revenues Geography: North America $ 1,052 $ 1,036 $ 687 $ 448 $ 3,223 $ 3,105 $ 3,084 $ 1,986 $ 1,310 $ 9,485 United Kingdom 117 36 95 77 325 365 90 286 235 976 Continental Europe 192 85 115 38 430 548 247 340 127 1,262 Europe - Total 309 121 210 115 755 913 337 626 362 2,238 Rest of World 131 18 69 52 270 383 53 195 145 776 Total $ 1,492 $ 1,175 $ 966 $ 615 $ 4,248 $ 4,401 $ 3,474 $ 2,807 $ 1,817 $ 12,499 Service line: Consulting and technology services $ 972 $ 634 $ 592 $ 332 $ 2,530 $ 2,832 $ 1,885 $ 1,705 $ 958 $ 7,380 Outsourcing services 520 541 374 283 1,718 1,569 1,589 1,102 859 5,119 Total $ 1,492 $ 1,175 $ 966 $ 615 $ 4,248 $ 4,401 $ 3,474 $ 2,807 $ 1,817 $ 12,499 Type of contract: Time and materials $ 925 $ 472 $ 421 $ 382 $ 2,200 $ 2,764 $ 1,372 $ 1,222 $ 1,136 $ 6,494 Fixed-price 481 420 441 202 1,544 1,422 1,202 1,279 589 4,492 Transaction or volume-based 86 283 104 31 504 215 900 306 92 1,513 Total $ 1,492 $ 1,175 $ 966 $ 615 $ 4,248 $ 4,401 $ 3,474 $ 2,807 $ 1,817 $ 12,499 |
Reinsurance Recoverable, Allowance for Credit Loss | The following table presents the activity in the allowance for doubtful accounts for trade accounts receivable: Allowance for Doubtful Accounts (in millions) Balance - December 31, 2019 $ 67 Impact of adoption of the Credit Loss Standard (1) Current-period provision for expected credit losses 18 Write-offs charged against the allowance (11) Balance - September 30, 2020 $ 73 |
Business Combinations (Tables)
Business Combinations (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Business Combinations [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The allocations of preliminary purchase price to the fair value of the aggregate assets acquired and liabilities assumed in the aforementioned acquisitions were as follows: Collaborative Solutions New Signature Tin Roof 10 th Magnitude Other Total Weighted Average Useful Life (in millions) Cash $ 10 $ 13 $ — $ 2 $ 8 $ 33 Trade accounts receivable 38 16 10 7 18 89 Property and equipment and other assets 6 4 1 2 16 29 Operating lease assets, net 6 7 2 4 12 31 Non-deductible goodwill 44 294 — 90 28 456 Tax-deductible goodwill 281 — 86 39 82 488 Customer relationship intangible assets 37 12 69 10 12 140 11.2 years Other intangible assets 8 — — — 2 10 6.1 years Current liabilities (25) (26) (13) (14) (21) (99) Noncurrent liabilities (5) (8) (1) (6) (13) (33) Purchase price, inclusive of contingent consideration (1) $ 400 $ 312 $ 154 $ 134 $ 144 $ 1,144 |
Realignment Charges (Tables)
Realignment Charges (Tables) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2020 | Sep. 30, 2020 | |
Realignment Charges [Abstract] | ||
Realignment Charges | Charges related to our realignment program and our 2020 Fit for Growth Plan were as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 (in millions) Realignment program: Executive Transition Costs $ — $ — $ — $ 22 Employee separation costs — 33 — 60 Employee retention costs — 18 15 18 Professional fees 8 14 25 16 2020 Fit for Growth Plan: Employee separation costs 38 — 103 — Employee retention costs — — 5 — Facility exit costs and other charges (1) 5 — 29 — Total restructuring costs $ 51 $ 65 $ 177 $ 116 (1) Includes $4 million of accelerated depreciation for the nine months ended September 30, 2020. Accelerated depreciation for the three months ended September 30, 2020 was immaterial. | |
Realignment Charges Roll Forward | Changes in our accrued employee separation costs included in "Accrued expenses and other current liabilities" in our consolidated statements of financial position are presented in the table below for the nine months ended September 30. 2020 2019 (in millions) Beginning balance $ 47 $ — Employee separation costs accrued 103 60 Payments made (135) (32) Ending balance $ 15 $ 28 |
Investments (Tables)
Investments (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Investments [Abstract] | |
Marketable Securities | Our investments were as follows: September 30, 2020 December 31, 2019 (in millions) Short-term investments: Equity investment security $ 27 $ 26 Held-to-maturity investment securities 108 287 Time deposits (1) 4 466 Total short-term investments $ 139 $ 779 Long-term investments: Equity and cost method investments $ 39 $ 17 Time deposits (1) 402 — Total long-term investments $ 441 $ 17 (1) As of September 30, 2020, $402 million in restricted time deposits were classified as long-term. As of December 31, 2019, $414 million in restricted time deposits were classified as short-term. See Note 8 . |
Unrealized Gain (Loss) on Investments | The amortized cost and fair value of held-to-maturity investment securities were as follows: September 30, 2020 December 31, 2019 Amortized Fair Amortized Fair (in millions) Short-term investments, due within one year: Corporate and other debt securities $ 30 $ 30 $ 101 $ 101 Commercial paper 78 78 186 186 Total short-term held-to-maturity investments $ 108 $ 108 $ 287 $ 287 |
Accrued Expenses And Other Cu_2
Accrued Expenses And Other Current Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Payables and Accruals [Abstract] | |
Accrued Expenses And Other Current Liabilities | Accrued expenses and other current liabilities were as follows: September 30, 2020 December 31, 2019 (in millions) Compensation and benefits $ 1,377 $ 1,239 Customer volume and other incentives 321 251 Derivative financial instruments 28 8 Income taxes 122 152 Professional fees 138 137 Travel and entertainment 21 24 Other 333 380 Total accrued expenses and other current liabilities $ 2,340 $ 2,191 |
Debt (Tables)
Debt (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Debt Disclosure [Abstract] | |
Summary of Long-term Debt | The following summarizes our long-term debt balances as of: September 30, 2020 December 31, 2019 (in millions) Notes outstanding under revolving credit facility $ 1,740 $ — Term Loan 713 741 Less: Current maturities - Term Loan (38) (38) Deferred financing costs (3) (3) Long-term debt, net of current maturities $ 2,412 $ 700 |
Income Taxes Income Taxes (Tabl
Income Taxes Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Income Tax Disclosure [Abstract] | |
Schedule of Effective Income Tax Rates | Our effective income tax rates were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Effective income tax rate 44.2 % 24.3 % 33.9 % 24.5 % |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Location And Fair Values Of Derivative Financial Instruments In Our Condensed Consolidated Statements Of Financial Position | The following table provides information on the location and fair values of derivative financial instruments included in our unaudited consolidated statements of financial position as of: September 30, 2020 December 31, 2019 Designation of Derivatives Location on Statements of Assets Liabilities Assets Liabilities (in millions) Foreign exchange forward and option contracts – Designated as cash flow hedging instruments Other current assets $ 29 $ — $ 32 $ — Other noncurrent assets 16 — 8 — Accrued expenses and other current liabilities — 2 — 7 Other noncurrent liabilities — — — 2 Total 45 2 40 9 Foreign exchange forward contracts – Not designated as hedging instruments Other current assets 3 — 3 — Accrued expenses and other current liabilities — 26 — 1 Total 3 26 3 1 Total $ 48 28 $ 43 $ 10 |
Notional value of outstanding contracts by year of maturity | The notional value of our outstanding contracts by year of maturity and the net unrealized gains and losses included in the caption "Accumulated other comprehensive income (loss)" in our unaudited consolidated statements of financial position, for our cash flow hedges, were as follows: September 30, December 31, 2019 (in millions) 2020 $ 400 $ 1,505 2021 1,315 883 2022 548 — Total notional value of contracts outstanding (1) $ 2,263 $ 2,388 Net unrealized gains included in accumulated other comprehensive income (loss), net of taxes $ 31 $ 26 |
Location And Amounts Of Pre-Tax Gains (Losses) on Cash Flow Hedges | The following table provides information on the location and amounts of pre-tax gains and losses on our cash flow hedges for the three months ended September 30: Change in Location of Net Gains Reclassified Net Gains Reclassified 2020 2019 2020 2019 (in millions) Foreign exchange forward and option contracts – Designated as cash flow hedging instruments $ 77 $ (28) Cost of revenues $ 5 $ 1 SG&A expenses 1 1 Total $ 6 $ 2 The following table provides information on the location and amounts of pre-tax gains and losses on our cash flow hedges for the nine months ended September 30: Change in Location of Net (Losses) Gains Reclassified Net (Losses) Gains Reclassified 2020 2019 2020 2019 (in millions) Foreign exchange forward and option contracts – Designated as cash flow hedging instruments $ (1) $ 30 Cost of revenues $ (7) $ 1 SG&A expenses (1) 1 Total $ (8) $ 2 |
Additional Information Related To Outstanding Contracts Not Designated As Hedging Instruments | Additional information related to our outstanding foreign exchange forward contracts not designated as hedging instruments was as follows: September 30, 2020 December 31, 2019 Notional Fair Value Notional Fair Value (in millions) Contracts outstanding $ 2,575 $ (23) $ 702 $ 2 |
Location And Amounts Of Pre-Tax Gains (Losses) On Derivative Financial Instruments Not Designated As Hedges | The following table provides information on the location and amounts of realized and unrealized pre-tax gains and losses on our other derivative financial instruments for the three and nine months ended September 30: Location of Net (Losses) Gains on Amount of Net (Losses) Gains on Derivative Instruments Three Months Ended Nine Months Ended 2020 2019 2020 2019 (in millions) Foreign exchange forward contracts – Not designated as hedging instruments Foreign currency exchange gains (losses), net $ (57) $ 6 $ (54) $ 1 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Fair Value Disclosures [Abstract] | |
Financial Assets And (Liabilities) Measured At Fair Value On A Recurring Basis | The following table summarizes our financial assets and (liabilities) measured at fair value on a recurring basis as of September 30, 2020: Level 1 Level 2 Level 3 Total (in millions) Cash equivalents: Money market funds $ 2,513 $ — $ — $ 2,513 Time deposits — 578 — 578 Short-term investments: Time deposits — 4 — 4 Equity investment security 27 — — 27 Other current assets: Foreign exchange forward and option contracts — 32 — 32 Long-term investments: Time deposits (1) — 402 — 402 Other noncurrent assets Foreign exchange forward and option contracts — 16 — 16 Accrued expenses and other current liabilities: Foreign exchange forward contracts — (28) — (28) Contingent consideration liabilities — — (11) (11) Other noncurrent liabilities: Contingent consideration liabilities — — (42) (42) (1) Balance represents restricted time deposits. See Note 8 . The following table summarizes our financial assets and (liabilities) measured at fair value on a recurring basis as of December 31, 2019: Level 1 Level 2 Level 3 Total (in millions) Cash equivalents: Money market funds $ 1,646 $ — $ — $ 1,646 Short-term investments: Time deposits (1) — 466 — 466 Equity investment security 26 — — 26 Other current assets: Foreign exchange forward contracts — 35 — 35 Other noncurrent assets: Foreign exchange forward contracts — 8 — 8 Accrued expenses and other current liabilities: Foreign exchange forward contracts — (8) — (8) Contingent consideration liabilities — — (8) (8) Other noncurrent liabilities: Foreign exchange forward contracts — (2) — (2) Contingent consideration liabilities — — (30) (30) (1) Includes $414 million in restricted time deposits. See Note 8 . |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Equity [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) | Changes in accumulated other comprehensive income (loss) by component were as follows for the three and nine months ended September 30, 2020: Three Months Nine Months Before Tax Tax Net of Tax Before Tax Tax Net of Tax (in millions) Foreign currency translation adjustments: Beginning balance $ (165) $ 4 $ (161) $ (63) $ (1) $ (64) Change in foreign currency translation adjustments 93 (3) 90 (9) 2 (7) Ending balance $ (72) $ 1 $ (71) $ (72) $ 1 $ (71) Unrealized (losses) gains on cash flow hedges: Beginning balance $ (33) $ 6 $ (27) $ 31 $ (5) $ 26 Unrealized gains (losses) arising during the period 77 (14) 63 (1) (1) (2) Reclassifications of net (gains) losses to: Cost of revenues (5) 1 (4) 7 (1) 6 SG&A expenses (1) — (1) 1 — 1 Net change 71 (13) 58 7 (2) 5 Ending balance $ 38 $ (7) $ 31 $ 38 $ (7) $ 31 Accumulated other comprehensive income (loss): Beginning balance $ (198) $ 10 $ (188) $ (32) $ (6) $ (38) Other comprehensive income (loss) 164 (16) 148 (2) — (2) Ending balance $ (34) $ (6) $ (40) $ (34) $ (6) $ (40) Changes in accumulated other comprehensive income (loss) by component were as follows for the three and nine months ended September 30, 2019: Three Months Nine Months Before Tax Tax Net of Tax Before Tax Tax Net of Tax (in millions) Foreign currency translation adjustments: Beginning balance $ (117) $ 3 $ (114) $ (108) $ 5 $ (103) Change in foreign currency translation adjustments (64) (1) (65) (73) (3) (76) Ending balance $ (181) $ 2 $ (179) $ (181) $ 2 $ (179) Unrealized (losses) on available-for-sale investment securities: Beginning balance $ — $ — $ — $ (12) $ 4 $ (8) Net unrealized gains arising during the period — — — 13 (4) 9 Reclassification of net gains to Other, net — — — (1) — (1) Net change — — — 12 (4) 8 Ending balance $ — $ — $ — $ — $ — $ — Unrealized gains (losses) on cash flow hedges: Beginning balance $ 54 $ (10) $ 44 $ (4) $ 1 $ (3) Unrealized (losses) gains arising during the period (28) 5 (23) 30 (6) 24 Reclassifications of net (gains) to: Cost of revenues (1) — (1) (1) — (1) SG&A expenses (1) 1 — (1) 1 — Net change (30) 6 (24) 28 (5) 23 Ending balance $ 24 $ (4) $ 20 $ 24 $ (4) $ 20 Accumulated other comprehensive income (loss): Beginning balance $ (63) $ (7) $ (70) $ (124) $ 10 $ (114) Other comprehensive income (loss) (94) 5 (89) (33) (12) (45) Ending balance $ (157) $ (2) $ (159) $ (157) $ (2) $ (159) |
Segment Information (Tables)
Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Segment Reporting [Abstract] | |
Segment Operating Profit | Segment operating profits by reportable segment were as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 (in millions) Financial Services $ 463 418 $ 1,209 $ 1,225 Healthcare 378 312 1,004 963 Products and Resources 307 274 805 763 Communications, Media and Technology 191 186 555 544 Total segment operating profit 1,339 1,190 3,573 3,495 Less: unallocated costs 736 521 1,924 1,668 Income from operations $ 603 $ 669 $ 1,649 $ 1,827 |
Revenues And Long-Lived Assets By Geographic Area | Long-lived assets by geographic area are as follows: As of September 30, 2020 December 31, 2019 (in millions) Long-lived Assets: (1) North America (2) $ 412 $ 445 Europe 109 104 Rest of World (3) 792 760 Total $ 1,313 $ 1,309 (1) Long-lived assets include property and equipment, net of accumulated depreciation and amortization. (2) Substantially all relates to the United States. (3) Substantially all relates to India. |
Interim Consolidated Financia_3
Interim Consolidated Financial Statements (Details) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Retained earnings | $ 11,142 | $ 11,022 |
Trade accounts receivable, net | $ 3,118 | 3,256 |
Trade Accounts Receivable [Member] | Cumulative Effect, Period of Adoption, Adjustment | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Trade accounts receivable, net | 1 | |
Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Retained earnings | $ 1 |
Revenues - Capitalized Costs to
Revenues - Capitalized Costs to Fulfill Contract with Customer (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | ||
Beginning balance | $ 485 | $ 400 |
Amortization expense | 71 | 58 |
Costs capitalized | 78 | 143 |
Impairment | (10) | 0 |
Ending balance | $ 482 | $ 485 |
Revenues - Significant Movement
Revenues - Significant Movements in Contract Assets (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | ||
Beginning balance | $ 334 | $ 305 |
Revenues recognized during the period but not billed | 281 | 340 |
Amounts reclassified to trade accounts receivable | 282 | 280 |
Ending balance | $ 333 | $ 365 |
Revenues - Significant Moveme_2
Revenues - Significant Movements in Deferred Revenue Balances (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | ||
Beginning balance | $ 336 | $ 348 |
Amounts billed but not recognized as revenues | 260 | 217 |
Revenues recognized related to the opening balance of deferred revenue | 279 | 229 |
Ending balance | $ 317 | $ 336 |
Revenues - Remaining Performanc
Revenues - Remaining Performance Obligations Narrative (Details) $ in Millions | Sep. 30, 2020USD ($) |
Revenue from Contract with Customer [Abstract] | |
Revenue, remaining performance obligation | $ 1,704 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, percentage | 70.00% |
Revenue, remaining performance obligation, period | 2 years |
Revenues - Disaggregation of Re
Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Disaggregation of Revenue [Line Items] | ||||
Revenue | $ 4,243 | $ 4,248 | $ 12,468 | $ 12,499 |
Time-and-materials [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 2,201 | 2,200 | 6,413 | 6,494 |
Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 1,568 | 1,544 | 4,593 | 4,492 |
Transaction or volume-based [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 474 | 504 | 1,462 | 1,513 |
North America [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 3,179 | 3,223 | 9,375 | 9,485 |
United Kingdom [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 345 | 325 | 996 | 976 |
Europe, excluding United Kingdom [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 437 | 430 | 1,293 | 1,262 |
Europe [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 782 | 755 | 2,289 | 2,238 |
Rest of World [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 282 | 270 | 804 | 776 |
Consulting And Technology Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 2,642 | 2,530 | 7,646 | 7,380 |
Outsourcing Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 1,601 | 1,718 | 4,822 | 5,119 |
Financial Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 1,469 | 1,492 | 4,316 | 4,401 |
Financial Services [Member] | Time-and-materials [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 932 | 925 | 2,689 | 2,764 |
Financial Services [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 450 | 481 | 1,377 | 1,422 |
Financial Services [Member] | Transaction or volume-based [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 87 | 86 | 250 | 215 |
Financial Services [Member] | North America [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 1,033 | 1,052 | 3,023 | 3,105 |
Financial Services [Member] | United Kingdom [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 123 | 117 | 353 | 365 |
Financial Services [Member] | Europe, excluding United Kingdom [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 181 | 192 | 554 | 548 |
Financial Services [Member] | Europe [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 304 | 309 | 907 | 913 |
Financial Services [Member] | Rest of World [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 132 | 131 | 386 | 383 |
Financial Services [Member] | Consulting And Technology Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 984 | 972 | 2,864 | 2,832 |
Financial Services [Member] | Outsourcing Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 485 | 520 | 1,452 | 1,569 |
Products and Resources [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 927 | 966 | 2,748 | 2,807 |
Products and Resources [Member] | Time-and-materials [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 392 | 421 | 1,164 | 1,222 |
Products and Resources [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 434 | 441 | 1,286 | 1,279 |
Products and Resources [Member] | Transaction or volume-based [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 101 | 104 | 298 | 306 |
Products and Resources [Member] | North America [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 666 | 687 | 1,975 | 1,986 |
Products and Resources [Member] | United Kingdom [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 96 | 95 | 278 | 286 |
Products and Resources [Member] | Europe, excluding United Kingdom [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 97 | 115 | 300 | 340 |
Products and Resources [Member] | Europe [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 193 | 210 | 578 | 626 |
Products and Resources [Member] | Rest of World [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 68 | 69 | 195 | 195 |
Products and Resources [Member] | Consulting And Technology Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 564 | 592 | 1,674 | 1,705 |
Products and Resources [Member] | Outsourcing Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 363 | 374 | 1,074 | 1,102 |
Communication, Media and Technology [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 616 | 615 | 1,822 | 1,817 |
Communication, Media and Technology [Member] | Time-and-materials [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 372 | 382 | 1,112 | 1,136 |
Communication, Media and Technology [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 218 | 202 | 638 | 589 |
Communication, Media and Technology [Member] | Transaction or volume-based [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 26 | 31 | 72 | 92 |
Communication, Media and Technology [Member] | North America [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 426 | 448 | 1,286 | 1,310 |
Communication, Media and Technology [Member] | United Kingdom [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 86 | 77 | 249 | 235 |
Communication, Media and Technology [Member] | Europe, excluding United Kingdom [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 43 | 38 | 122 | 127 |
Communication, Media and Technology [Member] | Europe [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 129 | 115 | 371 | 362 |
Communication, Media and Technology [Member] | Rest of World [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 61 | 52 | 165 | 145 |
Communication, Media and Technology [Member] | Consulting And Technology Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 369 | 332 | 1,055 | 958 |
Communication, Media and Technology [Member] | Outsourcing Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 247 | 283 | 767 | 859 |
Healthcare Segment [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 1,231 | 1,175 | 3,582 | 3,474 |
Healthcare Segment [Member] | Time-and-materials [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 505 | 472 | 1,448 | 1,372 |
Healthcare Segment [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 466 | 420 | 1,292 | 1,202 |
Healthcare Segment [Member] | Transaction or volume-based [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 260 | 283 | 842 | 900 |
Healthcare Segment [Member] | North America [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 1,054 | 1,036 | 3,091 | 3,084 |
Healthcare Segment [Member] | United Kingdom [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 40 | 36 | 116 | 90 |
Healthcare Segment [Member] | Europe, excluding United Kingdom [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 116 | 85 | 317 | 247 |
Healthcare Segment [Member] | Europe [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 156 | 121 | 433 | 337 |
Healthcare Segment [Member] | Rest of World [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 21 | 18 | 58 | 53 |
Healthcare Segment [Member] | Consulting And Technology Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 725 | 634 | 2,053 | 1,885 |
Healthcare Segment [Member] | Outsourcing Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | $ 506 | $ 541 | $ 1,529 | $ 1,589 |
Revenues - Trade Accounts And A
Revenues - Trade Accounts And Allowance for Doubtful Accounts (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2020USD ($) | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |
Beginning Balance | $ 67 |
Current-period provision for expected credit losses | 18 |
Write-offs charged against the allowance | (11) |
Ending Balance | 73 |
Cumulative Effect, Period of Adoption, Adjustment | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |
Beginning Balance | $ (1) |
Business Combinations Narrative
Business Combinations Narrative (Details) $ in Millions | Sep. 30, 2020USD ($) |
Business Acquisition [Line Items] | |
Ownership percentage of recently acquired businesses | 100.00% |
Collaborative Solutions [Member] | |
Business Acquisition [Line Items] | |
Business Combination, Contingent Consideration, Liability | $ 38 |
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 54 |
Business Combinations Allocatio
Business Combinations Allocation of Purchase Price (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2020 | Dec. 31, 2019 | |
Business Acquisition [Line Items] | ||
Cash | $ 33 | |
Trade accounts receivable | 89 | |
Property and equipment and other assets | 29 | |
Operating lease assets, net | 31 | |
Non-deductible goodwill | 456 | |
Goodwill | 4,931 | $ 3,979 |
Current liabilities | 99 | |
Noncurrent liabilities | 33 | |
Purchase price, inclusive of contingent consideration(1) | 1,144 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Tax-Deductible Goodwill | 488 | |
Series of Individually Immaterial Business Acquisitions [Member] | ||
Business Acquisition [Line Items] | ||
Cash | 8 | |
Trade accounts receivable | 18 | |
Property and equipment and other assets | 16 | |
Operating lease assets, net | 12 | |
Non-deductible goodwill | 28 | |
Current liabilities | 21 | |
Noncurrent liabilities | 13 | |
Purchase price, inclusive of contingent consideration(1) | 144 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Tax-Deductible Goodwill | 82 | |
Collaborative Solutions [Member] | ||
Business Acquisition [Line Items] | ||
Cash | 10 | |
Trade accounts receivable | 38 | |
Property and equipment and other assets | 6 | |
Operating lease assets, net | 6 | |
Non-deductible goodwill | 44 | |
Current liabilities | 25 | |
Noncurrent liabilities | 5 | |
Purchase price, inclusive of contingent consideration(1) | 400 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Tax-Deductible Goodwill | 281 | |
New Signature | ||
Business Acquisition [Line Items] | ||
Cash | 13 | |
Trade accounts receivable | 16 | |
Property and equipment and other assets | 4 | |
Operating lease assets, net | 7 | |
Non-deductible goodwill | 294 | |
Current liabilities | 26 | |
Noncurrent liabilities | 8 | |
Purchase price, inclusive of contingent consideration(1) | 312 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Tax-Deductible Goodwill | 0 | |
Tin Roof | ||
Business Acquisition [Line Items] | ||
Cash | 0 | |
Trade accounts receivable | 10 | |
Property and equipment and other assets | 1 | |
Operating lease assets, net | 2 | |
Non-deductible goodwill | 0 | |
Current liabilities | 13 | |
Noncurrent liabilities | 1 | |
Purchase price, inclusive of contingent consideration(1) | 154 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Tax-Deductible Goodwill | 86 | |
10th Magnitude | ||
Business Acquisition [Line Items] | ||
Cash | 2 | |
Trade accounts receivable | 7 | |
Property and equipment and other assets | 2 | |
Operating lease assets, net | 4 | |
Non-deductible goodwill | 90 | |
Current liabilities | 14 | |
Noncurrent liabilities | 6 | |
Purchase price, inclusive of contingent consideration(1) | 134 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Tax-Deductible Goodwill | 39 | |
Customer Relationships [Member] | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | $ 140 | |
Weighted Average Useful Life | 11 years 2 months 12 days | |
Customer Relationships [Member] | Series of Individually Immaterial Business Acquisitions [Member] | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | $ 12 | |
Customer Relationships [Member] | Collaborative Solutions [Member] | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | 37 | |
Customer Relationships [Member] | New Signature | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | 12 | |
Customer Relationships [Member] | Tin Roof | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | 69 | |
Customer Relationships [Member] | 10th Magnitude | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | 10 | |
Other Intangible Assets [Member] | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | $ 10 | |
Weighted Average Useful Life | 6 years 1 month 6 days | |
Other Intangible Assets [Member] | Series of Individually Immaterial Business Acquisitions [Member] | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | $ 2 | |
Other Intangible Assets [Member] | Collaborative Solutions [Member] | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | 8 | |
Other Intangible Assets [Member] | New Signature | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | 0 | |
Other Intangible Assets [Member] | Tin Roof | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | 0 | |
Other Intangible Assets [Member] | 10th Magnitude | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | $ 0 |
Realignment Charges (Details)
Realignment Charges (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Restructuring Charges | ||||
Accrued Realignment Costs | ||||
Realignment Costs incurred | $ 51 | $ 65 | $ 177 | $ 116 |
Executive Transition Costs | Realignment Program [Member] | ||||
Accrued Realignment Costs | ||||
Realignment Costs incurred | 0 | 0 | 0 | 22 |
Employee Severance [Member] | ||||
Accrued Realignment Costs | ||||
Realignment Costs incurred | 103 | 60 | ||
Balance - December 31, 2019 | 47 | |||
Payments made | 135 | 32 | ||
Balance - March 31, 2019 | 15 | 28 | 15 | 28 |
Employee Severance [Member] | Realignment Program [Member] | ||||
Accrued Realignment Costs | ||||
Realignment Costs incurred | 0 | 33 | 0 | 60 |
Employee Severance [Member] | 2020 Fit for Growth [Member] | ||||
Accrued Realignment Costs | ||||
Realignment Costs incurred | 38 | 0 | 103 | 0 |
Employee Retention Costs [Member] | Realignment Program [Member] | ||||
Accrued Realignment Costs | ||||
Realignment Costs incurred | 0 | 18 | 15 | 18 |
Employee Retention Costs [Member] | 2020 Fit for Growth [Member] | ||||
Accrued Realignment Costs | ||||
Realignment Costs incurred | 0 | 0 | 5 | 0 |
Other Restructuring | Realignment Program [Member] | ||||
Accrued Realignment Costs | ||||
Realignment Costs incurred | 8 | 14 | 25 | 16 |
Exit From Content Related Services [Member] | 2020 Fit for Growth [Member] | ||||
Accrued Realignment Costs | ||||
Realignment Costs incurred | 1 | 20 | ||
Facility Closing | 2020 Fit for Growth [Member] | ||||
Accrued Realignment Costs | ||||
Realignment Costs incurred | $ 5 | $ 0 | 29 | $ 0 |
Restructuring and Related Cost, Accelerated Depreciation | $ 4 |
Investments (Details)
Investments (Details) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Short-term investments: | ||
Total short-term investments | $ 139 | $ 779 |
Long-term investments: | ||
Restricted investments | 414 | |
Long-term Investments, Total | 441 | 17 |
Short-term Investments [Member] | ||
Short-term investments: | ||
Equity investment security | 27 | 26 |
Held-to-maturity investment securities | 108 | 287 |
Time Deposits | 4 | 466 |
Long-term investments: | ||
Restricted investments | 414 | |
Long-term investments [Member] | ||
Long-term investments: | ||
Equity and Cost Method Investments | 39 | $ 17 |
Restricted investments | $ 402 |
Investments (Schedule of Held-t
Investments (Schedule of Held-to-Maturity Securities) (Details) - Short-term Investments [Member] - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity investment securities | $ 108 | $ 287 |
Fair Value | 108 | 287 |
Corporate And Other Debt Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity investment securities | 30 | 101 |
Fair Value | 30 | 101 |
Commercial Paper [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity investment securities | 78 | 186 |
Fair Value | $ 78 | $ 186 |
Investments - Narrative (Detail
Investments - Narrative (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2020 | Dec. 31, 2019 | |
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | $ 0 | |
Payments to Acquire Equity Method Investments | 26 | |
Equity Method Investments | 35 | $ 9 |
Cost Method Investments | $ 4 | 8 |
Maximum | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | 1 | |
Commercial Paper [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 70 | |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 0 | |
Corporate And Other Debt Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | $ 42 |
Accrued Expenses And Other Cu_3
Accrued Expenses And Other Current Liabilities (Details) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Payables and Accruals [Abstract] | ||
Compensation and benefits | $ 1,377 | $ 1,239 |
Customer volume and other incentives | 321 | 251 |
Derivative financial instruments | 28 | 8 |
Income taxes | 122 | 152 |
Professional fees | 138 | 137 |
Travel and entertainment | 21 | 24 |
Other | 333 | 380 |
Total accrued expenses and other current liabilities | $ 2,340 | $ 2,191 |
Debt (Additional Disclosures) (
Debt (Additional Disclosures) (Details) $ in Millions, ₨ in Billions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020USD ($) | Jun. 30, 2020USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2020INR (₨) | Nov. 30, 2018USD ($) | |
Credit Agreement [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Line of Credit Facility, Interest Period | 1 month | ||||
Credit Agreement [Member] | Term Loan [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Principal amount of debt | $ 750 | ||||
Eurodollar [Member] | Credit Agreement [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 0.875% | ||||
Eurodollar [Member] | Minimum | Credit Agreement [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 0.75% | ||||
Eurodollar [Member] | Maximum | Credit Agreement [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 1.125% | ||||
Base Rate [Member] | Credit Agreement [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 0.00% | ||||
Eurocurrency Without Debt Ratings [Member] | Minimum | Credit Agreement [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 0.875% | ||||
Eurocurrency Without Debt Ratings [Member] | Maximum | Credit Agreement [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 1.125% | ||||
Revolving Credit Facility [Member] | Credit Agreement [Member] | Unsecured Debt [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Maximum borrowing capacity | $ 1,750 | ||||
Proceeds from Lines of Credit | $ 1,740 | ||||
Working Capital Facility [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Maximum borrowing capacity | $ 177 | $ 177 | ₨ 13 |
Debt (Short-term Debt) (Details
Debt (Short-term Debt) (Details) $ in Millions, ₨ in Billions | Sep. 30, 2020USD ($) | Sep. 30, 2020INR (₨) | Dec. 31, 2019USD ($) |
Credit Agreement [Member] | Term Loan [Member] | |||
Short-term Debt [Line Items] | |||
Long-term Debt, Current Maturities | $ 38 | $ 38 | |
Working Capital Facility [Member] | |||
Short-term Debt [Line Items] | |||
Maximum borrowing capacity | $ 177 | ₨ 13 |
Debt (Long-term Debt) (Details)
Debt (Long-term Debt) (Details) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Debt Instrument [Line Items] | ||
Long-term debt, net of current maturities | $ 2,412 | $ 700 |
Credit Agreement [Member] | ||
Debt Instrument [Line Items] | ||
Deferred financing costs | (3) | (3) |
Term Loan [Member] | Credit Agreement [Member] | ||
Debt Instrument [Line Items] | ||
Term Loan | 713 | 741 |
Current maturities | (38) | (38) |
Revolving Credit Facility [Member] | Unsecured Debt [Member] | Credit Agreement [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Line of Credit | $ 1,740 | $ 0 |
Income Taxes - Tax Rates (Detai
Income Taxes - Tax Rates (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Effective Income Tax Rates [Abstract] | ||||
Effective Income Tax Rate | 44.20% | 24.30% | 33.90% | 24.50% |
Income Taxes (Narrative) (One-t
Income Taxes (Narrative) (One-time Transaction) (Details) $ in Millions | Oct. 28, 2020USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2019USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2013USD ($) | Sep. 30, 2020INR (₨) | Dec. 31, 2019USD ($) | Apr. 30, 2018INR (₨) |
One-time Transaction [Table] [Line Items] | ||||||||||
Income tax expense | $ 276 | $ 160 | $ 552 | $ 469 | ||||||
Restricted investments | $ 414 | |||||||||
Subsequent Event [Member] | ||||||||||
One-time Transaction [Table] [Line Items] | ||||||||||
Distribution from our India Subsidiary, Gross | $ 2,100 | |||||||||
Distribution from our India Subsidiary, Net | 2,000 | |||||||||
Distribution from our India Subsidiary, Tax Withheld | $ 105 | |||||||||
Short-term Investments [Member] | ||||||||||
One-time Transaction [Table] [Line Items] | ||||||||||
Restricted investments | 414 | |||||||||
Long-term investments [Member] | ||||||||||
One-time Transaction [Table] [Line Items] | ||||||||||
Restricted investments | 402 | 402 | ||||||||
Tax on Accumulated Indian Earnings [Member] | ||||||||||
One-time Transaction [Table] [Line Items] | ||||||||||
Income tax expense | 140 | |||||||||
Indian Income Tax Department (ITD) [Member] | ||||||||||
One-time Transaction [Table] [Line Items] | ||||||||||
Unrepatriated earnings | 5,200 | |||||||||
Indian Income Tax Department (ITD) [Member] | Foreign tax authority [Member] | ||||||||||
One-time Transaction [Table] [Line Items] | ||||||||||
Deposits assets | $ 67 | $ 67 | ₨ 5,000,000,000 | 70 | ||||||
Desposits assets, percent disputed tax amount | 15.00% | 15.00% | 15.00% | |||||||
Restricted investments initially deposited | $ 382 | $ 382 | 393 | ₨ 28,000,000,000 | ||||||
Indian Income Tax Department (ITD) [Member] | Foreign tax authority [Member] | Other Current Assets [Member] | ||||||||||
One-time Transaction [Table] [Line Items] | ||||||||||
Deposits assets | $ 70 | |||||||||
Indian Income Tax Department (ITD) [Member] | Foreign tax authority [Member] | Other Noncurrent Assets [Member] | ||||||||||
One-time Transaction [Table] [Line Items] | ||||||||||
Deposits assets | 67 | 67 | ||||||||
Indian Income Tax Department (ITD) [Member] | Foreign tax authority [Member] | 2016 India Cash Remittance [Member] | ||||||||||
One-time Transaction [Table] [Line Items] | ||||||||||
Income tax expense | $ 135 | |||||||||
Foreign earnings repatriated | $ 2,800 | |||||||||
Income tax, disputed amount | $ 449 | $ 449 | ₨ 33,000,000,000 | |||||||
Indian Income Tax Department (ITD) [Member] | Foreign tax authority [Member] | 2013 India Share Repurchase [Member] | ||||||||||
One-time Transaction [Table] [Line Items] | ||||||||||
Foreign earnings repatriated | $ 523 |
Derivative Financial Instrume_3
Derivative Financial Instruments (Location And Fair Values Of Derivative Financial Instruments In Our Consolidated Statement Of Financial Position) (Details) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Derivatives, Fair Value [Line Items] | ||
Derivative assets fair value | $ 48 | $ 43 |
Derivative liabilities fair value | 28 | 10 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets fair value | 3 | 3 |
Derivative liabilities fair value | 26 | 1 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward [Member] | Other Current Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets fair value | 3 | 3 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward [Member] | Accrued Expenses And Other Current Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities fair value | 26 | 1 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets fair value | 45 | 40 |
Derivative liabilities fair value | 2 | 9 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract | Other Current Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets fair value | 29 | 32 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract | Other Noncurrent Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets fair value | 16 | 8 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract | Accrued Expenses And Other Current Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities fair value | 2 | 7 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract | Other Noncurrent Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities fair value | $ 0 | $ 2 |
Derivative Financial Instrume_4
Derivative Financial Instruments (Narrative) (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2020USD ($) | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Cash flow hedge gains (losses) expected to be reclassified to earnings within the next 12 months | $ 19 |
Derivative Financial Instrume_5
Derivative Financial Instruments (Notional Value Of Outstanding Cash Flow Hedge Contracts By Year Of Maturity And Net Unrealized (Loss) Gain Included In Accumulated Other Comprehensive Income) (Details) - Cash Flow Hedging [Member] - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Foreign Exchange Contract | ||
Derivative [Line Items] | ||
Net unrealized gains included in accumulated other comprehensive income (loss), net of taxes | $ 31 | $ 26 |
Designated as Hedging Instrument [Member] | Foreign Exchange Contract | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 2,263 | 2,388 |
Designated as Hedging Instrument [Member] | Foreign Exchange Contract, Maturity 2020 [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 400 | 1,505 |
Designated as Hedging Instrument [Member] | Foreign Exchange Contract, Maturity 2021 [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 1,315 | 883 |
Designated as Hedging Instrument [Member] | Foreign Exchange Contract, Maturity 2022 | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 548 | $ 0 |
Designated as Hedging Instrument [Member] | Foreign Exchange Option [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | $ 128 |
Derivative Financial Instrume_6
Derivative Financial Instruments (Location And Amounts Of Pre-Tax Gains (Losses) On Cash Flow Hedge Derivatives Financial Instruments) (Details) - Cash Flow Hedging [Member] - Designated as Hedging Instrument [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Net Gains Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (effective portion) | $ 6 | $ 2 | $ (8) | $ 2 |
Cost Of Revenues [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Net Gains Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (effective portion) | 5 | 1 | (7) | 1 |
Selling, General and Administrative Expenses [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Net Gains Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (effective portion) | 1 | 1 | (1) | 1 |
Foreign Exchange Contract | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Change in Derivative Gains (Losses) Recognized in Accumulated Other Comprehensive Income (Loss) (effective portion) | $ 77 | $ (28) | $ (1) | $ 30 |
Derivative Financial Instrume_7
Derivative Financial Instruments (Other Derivatives) (Details) - Not Designated as Hedging Instrument [Member] - Foreign Exchange Forward [Member] - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Derivative [Line Items] | ||
Market Value | $ (23) | $ 2 |
Derivative, Notional Amount | $ 2,575 | $ 702 |
Derivative Financial Instrume_8
Derivative Financial Instruments (Location And Amounts Of Pre-Tax Gains (Losses) On Derivative Financial Instruments Not Designated As Hedges) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward [Member] | Foreign Currency Exchange Gains (Losses), net [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of net gains (losses) on derivative instruments | $ (57) | $ 6 | $ (54) | $ 1 |
Fair Value Measurements (Financ
Fair Value Measurements (Financial Assets And (Liabilities) Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Restricted investments | $ 414 | |
Short-term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Restricted investments | 414 | |
Long-term investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Restricted investments | $ 402 | |
Recurring [Member] | Other Current Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments, assets | 32 | 35 |
Recurring [Member] | Accrued Expenses And Other Current Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Contingent consideration liabilities | (11) | (8) |
Derivative financial instruments, liabilities | (28) | (8) |
Recurring [Member] | Other Noncurrent Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments, assets | 16 | 8 |
Recurring [Member] | Other Noncurrent Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Contingent consideration liabilities | (42) | (30) |
Derivative financial instruments, liabilities | (2) | |
Recurring [Member] | Long-term investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Restricted investments | 402 | |
Recurring [Member] | Money Market Funds [Member] | Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds | 2,513 | 1,646 |
Recurring [Member] | Time Deposits | Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds | 578 | |
Recurring [Member] | Level 1 [Member] | Other Current Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments, assets | 0 | 0 |
Recurring [Member] | Level 1 [Member] | Accrued Expenses And Other Current Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Contingent consideration liabilities | 0 | 0 |
Derivative financial instruments, liabilities | 0 | 0 |
Recurring [Member] | Level 1 [Member] | Other Noncurrent Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments, assets | 0 | 0 |
Recurring [Member] | Level 1 [Member] | Other Noncurrent Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Contingent consideration liabilities | 0 | 0 |
Derivative financial instruments, liabilities | 0 | |
Recurring [Member] | Level 1 [Member] | Money Market Funds [Member] | Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds | 2,513 | 1,646 |
Recurring [Member] | Level 2 [Member] | Other Current Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments, assets | 32 | 35 |
Recurring [Member] | Level 2 [Member] | Accrued Expenses And Other Current Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Contingent consideration liabilities | 0 | 0 |
Derivative financial instruments, liabilities | (28) | (8) |
Recurring [Member] | Level 2 [Member] | Other Noncurrent Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments, assets | 16 | 8 |
Recurring [Member] | Level 2 [Member] | Other Noncurrent Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Contingent consideration liabilities | 0 | 0 |
Derivative financial instruments, liabilities | (2) | |
Recurring [Member] | Level 2 [Member] | Long-term investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Restricted investments | 402 | |
Recurring [Member] | Level 2 [Member] | Money Market Funds [Member] | Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds | 0 | |
Recurring [Member] | Level 2 [Member] | Time Deposits | Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds | 578 | |
Recurring [Member] | Level 3 [Member] | Other Current Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments, assets | 0 | 0 |
Recurring [Member] | Level 3 [Member] | Accrued Expenses And Other Current Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Contingent consideration liabilities | (11) | (8) |
Derivative financial instruments, liabilities | 0 | 0 |
Recurring [Member] | Level 3 [Member] | Other Noncurrent Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments, assets | 0 | 0 |
Recurring [Member] | Level 3 [Member] | Other Noncurrent Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Contingent consideration liabilities | (42) | (30) |
Derivative financial instruments, liabilities | 0 | |
Recurring [Member] | Level 3 [Member] | Money Market Funds [Member] | Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds | 0 | |
Time Deposits | Recurring [Member] | Short-term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short term investments | 4 | 466 |
Time Deposits | Recurring [Member] | Level 1 [Member] | Short-term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short term investments | 0 | 0 |
Time Deposits | Recurring [Member] | Level 2 [Member] | Short-term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short term investments | 4 | 466 |
Time Deposits | Recurring [Member] | Level 3 [Member] | Short-term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short term investments | 0 | 0 |
Equity Securities | Recurring [Member] | Short-term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short term investments | 27 | 26 |
Equity Securities | Recurring [Member] | Level 1 [Member] | Short-term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short term investments | 27 | 26 |
Equity Securities | Recurring [Member] | Level 2 [Member] | Short-term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short term investments | 0 | 0 |
Equity Securities | Recurring [Member] | Level 3 [Member] | Short-term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short term investments | $ 0 | $ 0 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||||
AOCI, beginning balance | $ 10,972 | $ 10,613 | $ 11,022 | $ 10,557 | $ 11,136 | $ 11,424 | $ 11,022 | $ 11,424 |
Other Comprehensive Income (Loss), before Tax [Abstract] | ||||||||
Net change, Net of Tax Amount | 90 | (65) | (7) | (76) | ||||
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ||||||||
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax, Portion Attributable to Parent | 0 | 0 | 0 | 8 | ||||
Other comprehensive income (loss) | 148 | (89) | (2) | (45) | ||||
AOCI, ending balance | 11,140 | 10,972 | 10,613 | 10,702 | 10,557 | 11,136 | 11,140 | 10,702 |
Foreign currency translation adjustments: [Member] | ||||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||||
AOCI before tax, beginning balance | (165) | (63) | (117) | (108) | (63) | (108) | ||
AOCI tax, beginning balance | 4 | (1) | 3 | 5 | (1) | 5 | ||
AOCI, beginning balance | (161) | (64) | (114) | (103) | (64) | (103) | ||
Other Comprehensive Income (Loss), before Tax [Abstract] | ||||||||
Net change, Before Tax Amount | 93 | (64) | (9) | (73) | ||||
Net change, Tax Effect | (3) | (1) | 2 | (3) | ||||
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ||||||||
Other comprehensive income (loss) | (65) | (76) | ||||||
AOCI before tax, ending balance | (72) | (165) | (181) | (117) | (72) | (181) | ||
AOCI tax, ending balance | 1 | 4 | 2 | 3 | 1 | 2 | ||
AOCI, ending balance | (71) | (161) | (179) | (114) | (71) | (179) | ||
Unrealized gains (losses) on available-for-sale investment securities: [Member] | ||||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||||
AOCI before tax, beginning balance | 0 | (12) | (12) | |||||
AOCI tax, beginning balance | 0 | 4 | 4 | |||||
AOCI, beginning balance | 0 | (8) | (8) | |||||
Other Comprehensive Income (Loss), before Tax [Abstract] | ||||||||
Net change, Before Tax Amount | 0 | 12 | ||||||
Net change, Tax Effect | 0 | (4) | ||||||
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ||||||||
OCI, before reclassifications, before tax | 0 | 13 | ||||||
Other comprehensive income (loss) before reclassifications, tax | 0 | (4) | ||||||
OCI, before reclassifications, net of tax | 0 | 9 | ||||||
Reclassification from AOCI, current period, before tax | 0 | (1) | ||||||
Reclassification from AOCI, current period, tax | 0 | 0 | ||||||
Reclassification from AOCI, current period, net of tax | 0 | (1) | ||||||
Other comprehensive income (loss) | 0 | 8 | ||||||
AOCI before tax, ending balance | 0 | 0 | 0 | |||||
AOCI tax, ending balance | 0 | 0 | 0 | |||||
AOCI, ending balance | 0 | 0 | 0 | |||||
Unrealized gains on cash flow hedges: [Member] | ||||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||||
AOCI before tax, beginning balance | (33) | 31 | 54 | (4) | 31 | (4) | ||
AOCI tax, beginning balance | 6 | (5) | (10) | 1 | (5) | 1 | ||
AOCI, beginning balance | (27) | 26 | 44 | (3) | 26 | (3) | ||
Other Comprehensive Income (Loss), before Tax [Abstract] | ||||||||
Net change, Before Tax Amount | 71 | (30) | 7 | 28 | ||||
Net change, Tax Effect | (13) | 6 | (2) | (5) | ||||
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ||||||||
OCI, before reclassifications, before tax | 77 | (28) | (1) | 30 | ||||
Other comprehensive income (loss) before reclassifications, tax | (14) | 5 | (1) | (6) | ||||
OCI, before reclassifications, net of tax | 63 | (23) | (2) | 24 | ||||
Other comprehensive income (loss) | 58 | (24) | 5 | 23 | ||||
AOCI before tax, ending balance | 38 | (33) | 24 | 54 | 38 | 24 | ||
AOCI tax, ending balance | (7) | 6 | (4) | (10) | (7) | (4) | ||
AOCI, ending balance | 31 | (27) | 20 | 44 | 31 | 20 | ||
Unrealized gains on cash flow hedges: [Member] | Cost of revenues [Member] | ||||||||
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ||||||||
Reclassification from AOCI, current period, before tax | (5) | (1) | 7 | (1) | ||||
Reclassification from AOCI, current period, tax | 1 | 0 | (1) | 0 | ||||
Reclassification from AOCI, current period, net of tax | (4) | (1) | 6 | (1) | ||||
Unrealized gains on cash flow hedges: [Member] | Selling, general and administrative expenses [Member] | ||||||||
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ||||||||
Reclassification from AOCI, current period, before tax | (1) | (1) | 1 | (1) | ||||
Reclassification from AOCI, current period, tax | 0 | 1 | 0 | 1 | ||||
Reclassification from AOCI, current period, net of tax | (1) | 0 | 1 | 0 | ||||
Accumulated other comprehensive income (loss): | ||||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||||
AOCI before tax, beginning balance | (198) | (32) | (63) | (124) | (32) | (124) | ||
AOCI tax, beginning balance | 10 | (6) | (7) | 10 | (6) | 10 | ||
AOCI, beginning balance | (188) | (264) | (38) | (70) | (74) | (114) | (38) | (114) |
Other Comprehensive Income (Loss), before Tax [Abstract] | ||||||||
Net change, Before Tax Amount | 164 | (94) | (2) | (33) | ||||
Net change, Tax Effect | (16) | 5 | 0 | (12) | ||||
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ||||||||
Other comprehensive income (loss) | 148 | 76 | (226) | (89) | 4 | 40 | (2) | (45) |
AOCI before tax, ending balance | (34) | (198) | (157) | (63) | (34) | (157) | ||
AOCI tax, ending balance | (6) | 10 | (2) | (7) | (6) | (2) | ||
AOCI, ending balance | $ (40) | $ (188) | $ (264) | $ (159) | $ (70) | $ (74) | $ (40) | $ (159) |
Commitments and Contingencies (
Commitments and Contingencies (Details) - USD ($) $ in Millions | Oct. 27, 2020 | Sep. 30, 2020 | Dec. 31, 2019 | Mar. 31, 2019 |
Other Commitments [Line Items] | ||||
Accrued Liabilities and Other Liabilities | $ 2,340 | $ 2,191 | ||
Insurance receivable for malpractice | $ 7 | |||
Subsequent Event [Member] | Syntel Sterling Best Shores Mauritius Ltd. [Member] | ||||
Other Commitments [Line Items] | ||||
Litigation settlement, amount awarded from other party | $ 854 | |||
Litigation Settlement Amount Awarded From Other Party, Punitive Damages | $ 570 | |||
India Defined Contribution Obligation [Member] | ||||
Other Commitments [Line Items] | ||||
Accrued Liabilities and Other Liabilities | $ 117 |
Segment Information (Revenues F
Segment Information (Revenues From External Customers And Segment Operating Profit) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Segment Reporting Information [Line Items] | ||||
Income from operations | $ 603 | $ 669 | $ 1,649 | $ 1,827 |
Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Income from operations | 1,339 | 1,190 | 3,573 | 3,495 |
Operating Segments [Member] | Financial Services [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Income from operations | 463 | 418 | 1,209 | 1,225 |
Operating Segments [Member] | Health Care [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Income from operations | 378 | 312 | 963 | |
Operating Segments [Member] | Products and Resources [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Income from operations | 307 | 274 | 805 | 763 |
Operating Segments [Member] | Communications, Media and Technology [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Income from operations | 191 | 186 | 555 | 544 |
Operating Segments [Member] | Healthcare Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Income from operations | 1,004 | |||
Corporate, Non-Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Unallocated costs | $ 736 | $ 521 | $ 1,924 | $ 1,668 |
Segment Information (Long-Lived
Segment Information (Long-Lived Assets By Geographic Area) (Details) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Long-Lived Assets [Line Items] | ||
Long-lived Assets | $ 1,313 | $ 1,309 |
North America [Member] | ||
Long-Lived Assets [Line Items] | ||
Long-lived Assets | 412 | 445 |
Europe [Member] | ||
Long-Lived Assets [Line Items] | ||
Long-lived Assets | 109 | 104 |
Rest of World [Member] | ||
Long-Lived Assets [Line Items] | ||
Long-lived Assets | $ 792 | $ 760 |
Subsequent Events (Details)
Subsequent Events (Details) | Oct. 28, 2020$ / shares |
Subsequent Event [Member] | |
Subsequent Event [Line Items] | |
Dividends declared per common share | $ 0.22 |