Cover
Cover - shares | 6 Months Ended | |
Jun. 30, 2021 | Jul. 23, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2021 | |
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 | 300 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, $0.01 par value per share | |
Trading Symbol | CTSH | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 525,597,200 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q2 | |
Entity Central Index Key | 0001058290 | |
Current Fiscal Year End Date | --12-31 | |
Amendment Flag | false |
Consolidated Statements Of Fina
Consolidated Statements Of Financial Position (Unaudited) - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 1,368 | $ 2,680 |
Short-term investments | 482 | 44 |
Trade accounts receivable, net | 3,419 | 3,087 |
Other current assets | 1,182 | 1,040 |
Total current assets | 6,451 | 6,851 |
Property and equipment, net | 1,225 | 1,251 |
Operating lease assets, net | 1,004 | 1,013 |
Goodwill | 5,457 | 5,031 |
Intangible assets, net | 1,219 | 1,046 |
Deferred income tax assets, net | 308 | 445 |
Long-term investments | 433 | 440 |
Other noncurrent assets | 732 | 846 |
Total assets | 16,829 | 16,923 |
Current liabilities: | ||
Accounts payable | 351 | 389 |
Deferred revenue | 356 | 383 |
Short-term debt | 38 | 38 |
Operating lease liabilities | 204 | 211 |
Accrued expenses and other current liabilities | 2,234 | 2,519 |
Total current liabilities | 3,183 | 3,540 |
Deferred revenue, noncurrent | 33 | 36 |
Operating lease liabilities, noncurrent | 842 | 846 |
Deferred income tax liabilities, net | 230 | 206 |
Long-term debt | 645 | 663 |
Long-term income taxes payable | 378 | 428 |
Other noncurrent liabilities | 313 | 368 |
Total liabilities | 5,624 | 6,087 |
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, 525 and 530 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively | 5 | 5 |
Additional paid-in capital | 32 | 32 |
Retained earnings | 11,086 | 10,689 |
Accumulated other comprehensive income (loss) | 82 | 110 |
Total stockholders’ equity | 11,205 | 10,836 |
Total liabilities and stockholders’ equity | $ 16,829 | $ 16,923 |
Consolidated Statements Of Fi_2
Consolidated Statements Of Financial Position (Unaudited) (Parenthetical) - $ / shares | Jun. 30, 2021 | Dec. 31, 2020 |
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 | 525,000,000 | 530,000,000 |
Common Stock, Shares, Outstanding | 525,000,000 | 530,000,000 |
Consolidated Statements Of Oper
Consolidated Statements Of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Income Statement [Abstract] | ||||
Revenues | $ 4,585 | $ 4,000 | $ 8,986 | $ 8,225 |
Operating expenses: | ||||
Cost of revenues (exclusive of depreciation and amortization expense shown separately below) | 2,863 | 2,615 | 5,627 | 5,362 |
Selling, general and administrative expenses | 881 | 711 | 1,708 | 1,422 |
Depreciation and amortization expense | 145 | 136 | 286 | 269 |
Income from operations | 696 | 467 | 1,365 | 1,046 |
Other income (expense), net: | ||||
Interest income | 7 | 37 | 16 | 78 |
Interest expense | (2) | (9) | (4) | (15) |
Foreign currency exchange gains (losses), net | (7) | (2) | (16) | (104) |
Other, net | 0 | 2 | (2) | 0 |
Total other income (expense), net | (2) | 28 | (6) | (41) |
Income before provision for income taxes | 694 | 495 | 1,359 | 1,005 |
Provision for income taxes | (184) | (134) | (344) | (276) |
Income (Loss) from Equity Method Investments | 2 | 0 | 2 | (1) |
Net income | $ 512 | $ 361 | $ 1,017 | $ 728 |
Basic earnings per share (usd per share) | $ 0.97 | $ 0.67 | $ 1.93 | $ 1.34 |
Diluted earnings per share (usd per share) | $ 0.97 | $ 0.67 | $ 1.92 | $ 1.34 |
Weighted average number of common shares outstanding - Basic (shares) | 527 | 541 | 528 | 543 |
Dilutive effect of shares issuable under stock-based compensation plans (shares) | 1 | 0 | 1 | 1 |
Weighted average number of common shares outstanding - Diluted (shares) | 528 | 541 | 529 | 544 |
Restructuring Charges | $ 0 | $ 71 | $ 0 | $ 126 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income (Unaudited) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 512 | $ 361 | $ 1,017 | $ 728 |
Other comprehensive income (loss), net of tax: | ||||
Foreign currency translation adjustments | 38 | (11) | (97) | |
Change in unrealized gains and losses on cash flow hedges | (13) | 38 | (17) | (53) |
Other comprehensive income (loss) | 1 | 76 | (28) | (150) |
Comprehensive income | $ 513 | $ 437 | $ 989 | $ 578 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Millions, $ in Millions | Total | Cumulative Effect, Period of Adoption, Adjustment | [1] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Retained Earnings [Member]Cumulative Effect, Period of Adoption, Adjustment | [1] | Accumulated other comprehensive income (loss): |
AOCI, beginning balance at Dec. 31, 2019 | $ 11,022 | $ 1 | $ 5 | $ 33 | $ 11,022 | $ 1 | $ (38) | ||
Beginning balance, shares at Dec. 31, 2019 | 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, $0.24 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 | ||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net income | 728 | ||||||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (150) | (150) | |||||||
AOCI, ending balance at Jun. 30, 2020 | 10,972 | $ 5 | 83 | 11,072 | (188) | ||||
Ending balance, shares at Jun. 30, 2020 | 542 | ||||||||
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 | 361 | |||||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 76 | 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, $0.24 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 | ||||||||
AOCI, beginning balance at Dec. 31, 2020 | $ 10,836 | $ 5 | 32 | 10,689 | 110 | ||||
Beginning balance, shares at Dec. 31, 2020 | 530 | 530 | |||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net income | $ 505 | 505 | |||||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (29) | ||||||||
Other comprehensive income (loss) | (29) | ||||||||
Common stock issued, stock-based compensation plans - value | 43 | 43 | |||||||
Common stock issued, stock-based compensation plans - shares | 1 | ||||||||
Stock-based compensation expense | 62 | 62 | |||||||
Repurchases of common stock, Value | (252) | (93) | (159) | ||||||
Repurchases of common stock, Shares | (3) | ||||||||
Dividends declared, $0.24 per share | (128) | (128) | |||||||
AOCI, ending balance at Mar. 31, 2021 | 11,037 | $ 5 | 44 | 10,907 | 81 | ||||
Ending balance, shares at Mar. 31, 2021 | 528 | ||||||||
AOCI, beginning balance at Dec. 31, 2020 | $ 10,836 | $ 5 | 32 | 10,689 | 110 | ||||
Beginning balance, shares at Dec. 31, 2020 | 530 | 530 | |||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net income | $ 1,017 | ||||||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (28) | (28) | |||||||
AOCI, ending balance at Jun. 30, 2021 | $ 11,205 | $ 5 | 32 | 11,086 | 82 | ||||
Ending balance, shares at Jun. 30, 2021 | 525 | 525 | |||||||
AOCI, beginning balance at Mar. 31, 2021 | $ 11,037 | $ 5 | 44 | 10,907 | 81 | ||||
Beginning balance, shares at Mar. 31, 2021 | 528 | ||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net income | 512 | ||||||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 1 | 1 | |||||||
Other comprehensive income (loss) | 1 | ||||||||
Common stock issued, stock-based compensation plans - value | 32 | 32 | |||||||
Common stock issued, stock-based compensation plans - shares | 1 | ||||||||
Stock-based compensation expense | 67 | 67 | |||||||
Repurchases of common stock, Value | (316) | (111) | (205) | ||||||
Repurchases of common stock, Shares | (4) | ||||||||
Dividends declared, $0.24 per share | (128) | (128) | |||||||
AOCI, ending balance at Jun. 30, 2021 | $ 11,205 | $ 5 | $ 32 | $ 11,086 | $ 82 | ||||
Ending balance, shares at Jun. 30, 2021 | 525 | 525 | |||||||
[1] | Reflects the adoption of the Credit Loss Standard on January 1, 2020. Refer to the notes in the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2020. |
Condensed Consolidated Statemen
Condensed Consolidated Statements Of Cash Flows (Unaudited) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Cash flows from operating activities: | ||
Net income | $ 1,017 | $ 728 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 286 | 273 |
Deferred income taxes | 119 | (93) |
Stock-based compensation expense | 129 | 120 |
Other | (2) | 187 |
Changes in assets and liabilities: | ||
Trade accounts receivable | (279) | 78 |
Other current and noncurrent assets | 60 | 171 |
Accounts payable | 17 | 103 |
Deferred revenues, current and noncurrent | (34) | 19 |
Other current and noncurrent liabilities | (591) | (110) |
Net cash provided by operating activities | 722 | 1,476 |
Cash flows from investing activities: | ||
Purchases of property and equipment | (163) | (205) |
Purchases of available-for-sale investment securities | (105) | 0 |
Purchases of held-to-maturity investment securities | (89) | (202) |
Proceeds from maturity of held-to-maturity investment securities | 76 | 346 |
Purchases of other investments | (642) | (264) |
Proceeds from maturity or sale of other investments | 322 | 283 |
Payments for business combinations, net of cash acquired | (658) | (489) |
Net cash (used in) investing activities | (1,259) | (531) |
Cash flows from financing activities: | ||
Issuance of common stock under stock-based compensation plans | 75 | 76 |
Repurchases of common stock | (560) | (585) |
Repayment of Term Loan borrowings and finance lease and earnout obligations | (28) | (25) |
Proceeds from borrowings under the revolving credit facility | 0 | 1,740 |
Dividends paid | (255) | (242) |
Net cash (used in) provided by financing activities | (768) | 964 |
Effect of exchange rate changes on cash and cash equivalents | (7) | (132) |
(Decrease) increase in cash and cash equivalents | (1,312) | 1,777 |
Cash and cash equivalents, beginning of year | 2,680 | 2,645 |
Cash and cash equivalents, end of period | $ 1,368 | $ 4,422 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | |||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Mar. 31, 2020 | |
Statement of Stockholders' Equity [Abstract] | ||||
Dividends declared per common share (in usd per share) | $ 0.24 | $ 0.24 | $ 0.22 | $ 0.22 |
Interim Consolidated Financial
Interim Consolidated Financial Statements | 6 Months Ended |
Jun. 30, 2021 | |
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 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, 2020. 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. |
Revenues
Revenues | 6 Months Ended |
Jun. 30, 2021 | |
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 geographic regions based upon client location, which is the client's billing address. 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 Six Months Ended (in millions) FS HC P&R CMT Total FS HC P&R CMT Total Geography: North America $ 1,049 $ 1,131 $ 723 $ 469 $ 3,372 $ 2,062 $ 2,232 $ 1,441 $ 920 $ 6,655 United Kingdom 130 45 116 112 403 255 85 222 211 773 Continental Europe 186 120 132 44 482 378 238 235 87 938 Europe - Total 316 165 248 156 885 633 323 457 298 1,711 Rest of World 137 29 84 78 328 265 58 155 142 620 Total $ 1,502 $ 1,325 $ 1,055 $ 703 $ 4,585 $ 2,960 $ 2,613 $ 2,053 $ 1,360 $ 8,986 Service line: Consulting and technology services $ 1,012 $ 769 $ 668 $ 422 $ 2,871 $ 1,979 $ 1,514 $ 1,284 $ 818 $ 5,595 Outsourcing services 490 556 387 281 1,714 981 1,099 769 542 3,391 Total $ 1,502 $ 1,325 $ 1,055 $ 703 $ 4,585 $ 2,960 $ 2,613 $ 2,053 $ 1,360 $ 8,986 Type of contract: Time and materials $ 908 $ 514 $ 446 $ 422 $ 2,290 $ 1,807 $ 1,033 $ 864 $ 819 $ 4,523 Fixed-price 500 529 506 249 1,784 971 1,028 987 479 3,465 Transaction or volume-based 94 282 103 32 511 182 552 202 62 998 Total $ 1,502 $ 1,325 $ 1,055 $ 703 $ 4,585 $ 2,960 $ 2,613 $ 2,053 $ 1,360 $ 8,986 Three Months Ended Six Months Ended (in millions) FS HC P&R CMT Total FS HC P&R CMT Total Geography: North America $ 978 $ 999 $ 620 $ 409 $ 3,006 $ 1,990 $ 2,037 $ 1,309 $ 860 $ 6,196 United Kingdom 110 36 89 79 314 230 76 182 163 651 Continental Europe 182 102 94 41 419 373 201 203 79 856 Europe - Total 292 138 183 120 733 603 277 385 242 1,507 Rest of World 126 20 64 51 261 254 37 127 104 522 Total $ 1,396 $ 1,157 $ 867 $ 580 $ 4,000 $ 2,847 $ 2,351 $ 1,821 $ 1,206 $ 8,225 Service line: Consulting and technology services $ 933 $ 666 $ 520 $ 338 $ 2,457 $ 1,880 $ 1,328 $ 1,110 $ 686 $ 5,004 Outsourcing services 463 491 347 242 1,543 967 1,023 711 520 3,221 Total $ 1,396 $ 1,157 $ 867 $ 580 $ 4,000 $ 2,847 $ 2,351 $ 1,821 $ 1,206 $ 8,225 Type of contract: Time and materials $ 873 $ 468 $ 363 $ 357 $ 2,061 $ 1,757 $ 943 $ 772 $ 740 $ 4,212 Fixed-price 444 417 409 201 1,471 927 826 852 420 3,025 Transaction or volume-based 79 272 95 22 468 163 582 197 46 988 Total $ 1,396 $ 1,157 $ 867 $ 580 $ 4,000 $ 2,847 $ 2,351 $ 1,821 $ 1,206 $ 8,225 Costs to Fulfill Costs to fulfill, such as setup 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 periods disclosed. The following table presents information related to the capitalized costs to fulfill for the six months ended June 30: (in millions) 2021 2020 Beginning balance $ 467 $ 485 Amortization expense (58) (44) Costs capitalized 25 59 Impairment (9) (6) Ending balance $ 425 $ 494 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 six months ended June 30: (in millions) 2021 2020 Beginning balance $ 315 $ 334 Revenues recognized during the period but not billed 266 252 Amounts reclassified to trade accounts receivable (229) (247) Ending balance $ 352 $ 339 Our contract liabilities, or deferred revenue, consist of advance payments and billings in excess of revenues recognized. The table below shows significant movements in the deferred revenue balances (current and noncurrent) for the six months ended June 30: (in millions) 2021 2020 Beginning balance $ 419 $ 336 Amounts billed but not recognized as revenues 327 297 Revenues recognized related to the opening balance of deferred revenue (357) (268) Ending balance $ 389 $ 365 Revenues recognized during the three and six months ended June 30, 2021 for performance obligations satisfied or partially satisfied in previous periods were immaterial. Remaining Performance Obligations As of June 30, 2021, the aggregate amount of transaction price allocated to remaining performance obligations was $1,705 million, of which approximat ely 75% 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 Credit Loss 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 trade accounts receivable for the six months ended June 30: (in millions) 2021 2020 Beginning balance $ 57 $ 67 Impact of adoption of the Credit Loss Standard — (1) Credit loss expense 1 18 Write-offs charged against the allowance (9) (9) Ending balance $ 49 $ 75 |
Business Combinations
Business Combinations | 6 Months Ended |
Jun. 30, 2021 | |
Business Combinations [Abstract] | |
Business Combinations | Acquisitions completed during the six months ended June 30, 2021 were not individually or in the aggregate material to our operations. 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 estimated fair values . Goodwill from our acquisition of ESG Mobility has been allocated to our Products and Resources segment. Goodwill from other 2021 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 com panies and us, neither of which qualify as an identifiable intangible asset. During the six months ended June 30, 2021 , we acquired 100% owners hip in each of the following: • Linium, a cloud transformation consultancy group specializing in the ServiceNow platform and solutions for smart digital enterprise workflows, acquired to broaden our enterprise service management capabilities (acquired January 31, 2021); • Magenic, a provider of agile software and cloud development, DevOps, experience design and advisory services across a range of industries, acquired to enhance our global software engineering expertise (acquired February 1, 2021); • Servian, an Australia-based enterprise transformation consultancy specializing in data analytics, AI, digital services, experience design and cloud, acquired to enhance our digital portfolio and market presence in Australia and New Zealand (acquired April 1, 2021); and • ESG Mobility, a digital automotive engineering research and development provider for connected, autonomous and electric vehicles, acquired to expand our digital engineering expertise, particularly in connected vehicles (acquired June 1, 2021). The allocations of preliminary purchase price to the fair value of the aggregate assets acquired and li abilities assumed were as follows: (in millions) Servian Magenic ESG Mobility Linium Total Weighted Average Useful Life Cash $ 4 $ 13 $ 28 $ — $ 45 Trade accounts receivable 15 17 24 5 61 Property and equipment and other assets 7 4 8 1 20 Operating lease assets, net 7 10 27 — 44 Non-deductible goodwill 178 34 31 — 243 Tax-deductible goodwill — 114 24 57 195 Customer relationship assets 76 90 77 24 267 10.2 years Other intangible assets 2 1 — — 3 4.1 years Current liabilities (13) (30) (20) (2) (65) Noncurrent liabilities (29) (7) (65) — (101) Purchase price, inclusive of contingent consideration $ 247 $ 246 $ 134 $ 85 $ 712 |
Restructuring Charges
Restructuring Charges | 6 Months Ended |
Jun. 30, 2021 | |
Restructuring Charges [Abstract] | |
Restructuring Charges | During 2020, we incurred costs related to both our realignment program and our 2020 Fit for Growth Plan. Our realignment program, which began in 2017, improved our client focus, cost structure and the efficiency and effectiveness of our delivery while continuing to drive revenue growth. Our 2020 Fit for Growth Plan, which began in the fourth quarter of 2019, simplified our organizational model and optimized our cost structure in order to partially fund the investments required to execute on our strategy and advance our growth agenda and included our decision to exit certain content-related services that were 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 statement of operations. During the three and six months ended June 30, 2020, we incurred certain employee retention costs and professional fees of $12 million and $32 million, respectively, related to our realignment program and employee separation, employee retention and facility exit costs and other charges of $59 million and $94 million, respectively, related to our 2020 Fit for Growth Plan. We did not incur any costs related to these plans during the t hree and six months |
Investments
Investments | 6 Months Ended |
Jun. 30, 2021 | |
Investments [Abstract] | |
Investments | Our investments were as follows: (in millions) June 30, 2021 December 31, 2020 Short-term investments: Equity investment security $ 27 $ 27 Available-for-sale investment securities 105 — Held-to-maturity investment securities 27 14 Time deposits 323 3 Total short-term investments $ 482 $ 44 Long-term investments: Equity and cost method investments $ 36 $ 35 Restricted time deposits (1) 397 405 Total long-term investments $ 433 $ 440 (1) See Note 8 . Equity Investment Security Our equity investment security is a U.S. dollar denominated investment in a fixed income mutual fund. Realized and unrealized gains and losses were immaterial for the three and six months ended June 30, 2021 and 2020. Available-for-Sale Investment Securities Our available-for-sale investment securities consist of highly rated U.S. dollar denominated investments in commercial paper maturing within one year. As of June 30, 2021, the amortized cost and fair value of our available-for-sale investments was $105 million. Unrealized gains and losses were immaterial as of June 30, 2021 and there were no realized gains or losses related to our available-for-sale investment securities during the six months ended June 30, 2021 and 2020. Held-to-Maturity Investment Securities Our held-to-maturity investment securities consist of Indian rupee denominated investments in commercial paper and international corporate bonds. 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: (in millions) June 30, 2021 December 31, 2020 Amortized Fair Amortized Fair Short-term investments, maturing within one year: Corporate and other debt securities $ 7 $ 7 $ 14 $ 14 Commercial paper 20 20 — — Total short-term held-to-maturity investments $ 27 $ 27 $ 14 $ 14 As of June 30, 2021, commercial paper securities in the amount of $3 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. As of December 31, 2020, there were no held-to-maturity investment securities in an unrealized loss position. The securities in our portfolio are highly rated and short-term in nature. As of June 30, 2021, our corporate and other debt securities were rated AA+ or better and our commercial paper securities were rated A-1+ by CRISIL, an Indian subsidiary of S&P Global. Equity and Cost Method Investments As of June 30, 2021 and December 31, 2020, we had equity method investments of $33 million and $31 million, respectively, and cost method investments of $3 million and $4 million, respectively. |
Accrued Expenses And Other Curr
Accrued Expenses And Other Current Liabilities | 6 Months Ended |
Jun. 30, 2021 | |
Payables and Accruals [Abstract] | |
Accrued Expenses And Other Current Liabilities | Accrued expenses and other current liabilities were as follows: (in millions) June 30, 2021 December 31, 2020 Compensation and benefits $ 1,472 $ 1,607 Customer volume and other incentives 258 266 Income taxes 25 34 Professional fees 171 143 Other 308 469 Total accrued expenses and other current liabilities $ 2,234 $ 2,519 |
Debt
Debt | 6 Months Ended |
Jun. 30, 2021 | |
Debt Disclosure [Abstract] | |
Debt | In 2018, we entered int o th e Credit Agreement providing for the $750 million Term Loan and a $1,750 million unsecured revolving credit facility, which are due to 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 Credit 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. 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 June 30, 2021. In February 2021, our Ind ia subsidiary renewed its 13 billion Indian rupee ( $175 million at the June 30, 2021 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. Short-term Debt As of both June 30, 2021 and December 31, 2020, 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: (in millions) June 30, 2021 December 31, 2020 Term Loan $ 685 $ 703 Less: Current maturities - Term Loan (38) (38) Deferred financing costs (2) (2) Long-term debt, net of current maturities $ 645 $ 663 The carrying value of our debt approximated its fair value as of June 30, 2021 and December 31, 2020. |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2021 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | In March 2021, we reached an agreement with the IRS, which effectively settled tax years 2012 through 2016. As a result of this effective settlement, in the first quarter of 2021, we recorded a reduction of $43 million to our uncertain tax position balance, which resulted in a $14 million discrete benefit to the provision for income taxes and a $29 million adjustment to our current income tax balance sheet accounts. Tax years that remain subject to examination by the IRS are 2017 onwar d. As of June 30, 2021 and December 31, 2020, our prepaid taxes, which are presented in "Other current assets" in our unaudited consolidated statements of financial position, were $370 million and $274 million, respectively. Our effective income tax rates were as follows: Three Months Ended Six Months Ended 2021 2020 2021 2020 Effective income tax rate 26.5 % 27.1 % 25.3 % 27.5 % The effective tax rate decreased in 2021 as compared to 2020 primarily as a result of significantly lower non-deductible foreign currency exchange losses in our unaudited consolidated statement of operations in the 2021 period. We are involved in an ongoing dispute with the ITD in connection with a previously disclosed transaction undertaken by CTS India in 2016 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 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 ( $444 million at the June 30, 2021 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 valued 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 deposited 5 billion Indian rupees ($67 million at the June 30, 2021 exchange rate and $68 million at the December 31, 2020 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 ($377 million at the June 30, 2021 exchange rate and $384 million at the December 31, 2020 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 SLP 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. As of June 30, 2021 and December 31, 2020, the balance of deposits under lien was $397 million and $405 million, respectively, presented in "Long-term investments", including a portion of the interest previously earned. As of June 30, 2021 and December 31, 2020, the deposit with the ITD was $67 million and $68 million respectively, presented in "Other noncurrent assets". 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 June 30, 2021. |
Derivative Financial Instrument
Derivative Financial Instruments | 6 Months Ended |
Jun. 30, 2021 | |
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 Master Agreement, 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: (in millions) June 30, 2021 December 31, 2020 Designation of Derivatives Location on Statement of Assets Liabilities Assets Liabilities Foreign exchange forward and option contracts – Designated as cash flow hedging instruments Other current assets $ 35 $ — $ 45 $ — Other noncurrent assets 9 — 26 — Accrued expenses and other current liabilities — 2 — — Other noncurrent liabilities — 2 — — Total $ 44 $ 4 $ 71 $ — Foreign exchange forward contracts – Not designated as hedging instruments Other current assets 1 — 1 — Accrued expenses and other current liabilities — — — 1 Total 1 — 1 1 Total $ 45 $ 4 $ 72 $ 1 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 2021, 2022 and the first six months of 2023. 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 "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 June 30, 2021, we estimate that $32 million, net of tax, of net gains rela ted 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 values of our outstanding contracts by year of maturity were as follows: (in millions) June 30, 2021 December 31, 2020 2021 $ 815 $ 1,470 2022 1,098 803 2023 325 — Total notional value of contracts outstanding (1) $ 2,238 $ 2,273 (1) Includes $128 million and $133 million notional value of option contract s as of June 30, 2021 and December 31, 2020, respectively, 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 June 30: (in millions) Change in Location of Net Gains (Losses) Reclassified Net Gains (Losses) Reclassified 2021 2020 2021 2020 Foreign exchange forward and option contracts – Designated as cash flow hedging instruments $ (3) $ 35 Cost of revenues $ 12 $ (9) SG&A expenses 2 (2) Total $ 14 $ (11) The following table provides information on the location and amounts of pre-tax gains and losses on our cash flow hedges for the six months ended June 30: (in millions) Change in Location of Net Gains (Losses) Reclassified Net Gains (Losses) Reclassified 2021 2020 2021 2020 Foreign exchange forward and option contracts – Designated as cash flow hedging instruments $ 14 $ (78) Cost of revenues $ 30 $ (12) SG&A expenses 5 (2) Total $ 35 $ (14) 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 present ed 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. We entered into foreign exchange forward contracts that are scheduled to mature in 2021. 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 unaudited consolidated statements of operations. Additional information related to our outstanding foreign exchange forward contracts not designated as hedging instruments was as follows: (in millions) June 30, 2021 December 31, 2020 Notional Fair Value Notional Fair Value Contracts outstanding $ 796 $ 1 $ 637 $ — 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 six months ended June 30: Location of Net Gains (Losses) on Amount of Net Gains (Losses) on Derivative Instruments Three Months Ended Six Months Ended (in millions) 2021 2020 2021 2020 Foreign exchange forward contracts – Not designated as hedging instruments Foreign currency exchange gains (losses), net $ 3 $ (3) $ 6 $ 3 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 | 6 Months Ended |
Jun. 30, 2021 | |
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 June 30, 2021: (in millions) Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 260 $ — $ — $ 260 Time deposits — 4 — 4 Commercial paper — 285 — 285 Short-term investments: Time deposits — 323 — 323 Equity investment security 27 — — 27 Available-for-sale investment securities: Commercial paper — 105 — 105 Other current assets: Foreign exchange forward and option contracts — 36 — 36 Long-term investments: Restricted time deposits (1) — 397 — 397 Other noncurrent assets Foreign exchange forward contracts — 9 — 9 Accrued expenses and other current liabilities: Foreign exchange forward contracts and option contracts — (2) — (2) Contingent consideration liabilities — — (27) (27) Other noncurrent liabilities: Foreign exchange forward contracts and option contracts — (2) — (2) Contingent consideration liabilities — — (13) (13) (1) See Note 8 . The following table summarizes our financial assets and (liabilities) measured at fair value on a recurring basis as of December 31, 2020: (in millions) Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 209 $ — $ — $ 209 Time deposits — 203 — 203 Commercial paper — 200 — 200 Short-term investments: Time deposits — 3 — 3 Equity investment security 27 — — 27 Other current assets: Foreign exchange forward and option contracts — 46 — 46 Long-term investments: Restricted time deposits (1) — 405 — 405 Other noncurrent assets: Foreign exchange forward and option contracts — 26 — 26 Accrued expenses and other current liabilities: Foreign exchange forward and option contracts — (1) — (1) Contingent consideration liabilities — — (11) (11) Other noncurrent liabilities: Contingent consideration liabilities — — (43) (43) (1) Se e Note 8 . The following table summarizes the changes in Level 3 contingent consideration liabilities for the six months ended June 30: (in millions) 2021 2020 Beginning balance $ 54 $ 38 Initial measurement recognized at acquisition 8 42 Change in fair value recognized in SG&A expenses (19) (23) Payments (3) (3) Ending balance $ 40 $ 54 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 fair value of commercial paper is measured based on relevant trade data, dealer quotes, or model-driven valuations using significant inputs derived from or corroborated by observable market data, such as yield curves and credit spreads. The carrying value of our time deposits approximated fair value as of June 30, 2021 and December 31, 2020. 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 forward 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. We estimate the fair value of contingent consideration liabilities associated with our acquisitions using a variation of the income approach, which utilizes one or more significant inputs that are unobservable. This approach calculates the fair value of such liabilities based on the probability-weighted expected performance of the acquired entity against the target performance metric, discounted to present value when appropriate. During the six months ended June 30, 2021 and the year ended December 31, 2020, there were no transfers among Level 1, Level 2 or Level 3 financial assets and liabilities. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 6 Months Ended |
Jun. 30, 2021 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | Changes in "Accumulated other comprehensive income (loss)" by component were as follows for the three and six months ended June 30, 2021: Three Months Six Months (in millions) Before Tax Tax Net of Tax Before Tax Tax Net of Tax Foreign currency translation adjustments: Beginning balance $ 29 $ 1 $ 30 $ 56 $ (1) $ 55 Change in foreign currency translation adjustments 15 (1) 14 (12) 1 (11) Ending balance $ 44 $ — $ 44 $ 44 $ — $ 44 Unrealized gains on cash flow hedges: Beginning balance $ 63 $ (12) $ 51 $ 67 $ (12) $ 55 Unrealized (losses) gains arising during the period (3) — (3) 14 (3) 11 Reclassifications of net (gains) to: Cost of revenues (12) 3 (9) (30) 6 (24) SG&A expenses (2) 1 (1) (5) 1 (4) Net change (17) 4 (13) (21) 4 (17) Ending balance $ 46 $ (8) $ 38 $ 46 $ (8) $ 38 Accumulated other comprehensive income (loss): Beginning balance $ 92 $ (11) $ 81 $ 123 $ (13) $ 110 Other comprehensive income (loss) (2) 3 1 (33) 5 (28) Ending balance $ 90 $ (8) $ 82 $ 90 $ (8) $ 82 Changes in "Accumulated other comprehensive income (loss)" by component were as follows for the three and six months ended June 30, 2020: Three Months Six Months (in millions) Before Tax Tax Net of Tax Before Tax Tax Net of Tax Foreign currency translation adjustments: Beginning balance $ (202) $ 3 $ (199) $ (63) $ (1) $ (64) Change in foreign currency translation adjustments 37 1 38 (102) 5 (97) Ending balance $ (165) $ 4 $ (161) $ (165) $ 4 $ (161) Unrealized (losses) gains on cash flow hedges: Beginning balance $ (79) $ 14 $ (65) $ 31 $ (5) $ 26 Unrealized gains (losses) arising during the period 35 (6) 29 (78) 13 (65) Reclassifications of net losses to: Cost of revenues 9 (2) 7 12 (2) 10 SG&A expenses 2 — 2 2 — 2 Net change 46 (8) 38 (64) 11 (53) Ending balance $ (33) $ 6 $ (27) $ (33) $ 6 $ (27) Accumulated other comprehensive income (loss): Beginning balance $ (281) $ 17 $ (264) $ (32) $ (6) $ (38) Other comprehensive income (loss) 83 (7) 76 (166) 16 (150) Ending balance $ (198) $ 10 $ (188) $ (198) $ 10 $ (188) |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2021 | |
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 USDC-SDNY. 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 D efend 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 $855 million, including $570 million in punitive damages. On April 20, 2021, the USDC-SDNY issued a post-trial order that, among other things, affirmed the jury’s award of $285 million in actual damages, but reduced the award of punitive damages from $570 million to $285 million, thereby reducing the overall damages award from $855 million to $570 million. The USDC-SDNY subsequently issued a final judgment consistent with the April 20 th order. On May 26, 2021, Syntel filed a notice of appeal to the United States Court of Appeals for the Second Circuit, and on June 3, 2021 the USDC-SDNY stayed execution of judgment pending appeal. We will not record the gain in our financial statements until it becomes realizable. On February 28, 2019, a ruling of the SCI 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 e xpenses" 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 SCI’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 at that time 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 at that time 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 motions to dismiss the consolidated amended complaint on June 6, 2017. On August 8, 2018, the USDC-NJ issued an order which granted the motions 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 USDC-NJ 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 USDC-NJ 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 Third Circuit. On March 6, 2019, the Third Circuit denied our petition without prejudice. In an order dated March 19, 2019, the USDC-NJ 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 USDC-NJ 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 DOJ 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 DOJ in connection with those criminal proceedings. On July 24, 2020, the USDC-NJ granted the DOJ’s motion; and on that same day, we filed a motion in the USDC-NJ to certify the June 7, 2020 order for immediate appeal to the Third Circuit pursuant to 28 U.S.C. § 1292(b). On March 17, 2021, the USDC-NJ issued an order denying our motion. 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 at that time 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 USDC-NJ, naming us and certain of our current and former directors and officers at that time 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 USDC-NJ 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 USDC-NJ, 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 USDC-NJ approved a stipulation that (i) consolidated this action with the putative shareholder derivative suits that were previously filed in the USDC-NJ; and (ii) stayed all of these suits pending an 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. On October 19, 2020, the USDC-NJ approved a stipulation that stayed all of these suits through the earlier of the conclusion of the criminal proceedings in United States v. Gordon J. Coburn and Steven Schwartz, Crim. No. 19-120 (KM), or November 1, 2021. On June 1, 2021, an eighth putative shareholder derivative complaint was filed in the USDC-NJ, naming us, and certain of our current and former officers and directors, as defendants. The complaint asserts claims similar to those in the previously-filed putative shareholder derivative actions. 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 related 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. Although the Company continues to defend the lawsuits vigorously, these 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 DOJ 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 June 30, 2021. We have maintained directors and officers insurance and have recorded an insurance receivab le of $10 million and $7 million as of June 30, 2021 and December 31, 2020, respectively, in "Other current assets," on our unaudited consolidated statements of financial position related to the recovery of a portion of the indemnification expenses and costs related t o 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. |
Segment Information
Segment Information | 6 Months Ended |
Jun. 30, 2021 | |
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; and • Communications, Media and Technology, which includes our communications and media operating segment and our technology operating segment. Our client partners, account executives and client relationship managers 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 and COVID-19 Charges, 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 operations. 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, see Note 2 . Segment operating profits by reportable segment were as follows: Three Months Ended Six Months Ended (in millions) 2021 2020 2021 2020 Financial Services $ 439 $ 365 $ 845 $ 746 Healthcare 388 305 799 626 Products and Resources 329 237 637 498 Communications, Media and Technology 235 174 450 364 Total segment operating profit 1,391 1,081 2,731 2,234 Less: unallocated costs 695 614 1,366 1,188 Income from operations $ 696 $ 467 $ 1,365 $ 1,046 Geographic Area Information Long-lived assets by geographic area are as follows: As of (in millions) June 30, 2021 December 31, 2020 Long-lived Assets: (1) North America (2) $ 389 $ 399 Europe 84 88 Rest of World (3) 752 764 Total $ 1,225 $ 1,251 (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
Subsequent Events | 3 Months Ended |
Jun. 30, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | DividendOn July 25, 2021, our Board of Directors approved the Company's declaration of a $0.24 per share dividend with a record date of August 20, 2021 and a payment date of August 31, 2021. |
Revenues (Tables)
Revenues (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Revenue from Contract with Customer [Abstract] | |
Capitalized Costs to Fulfill Contract with Customer | Costs to obtain contracts were immaterial for the periods disclosed. The following table presents information related to the capitalized costs to fulfill for the six months ended June 30: (in millions) 2021 2020 Beginning balance $ 467 $ 485 Amortization expense (58) (44) Costs capitalized 25 59 Impairment (9) (6) Ending balance $ 425 $ 494 |
Contract with Customer, Asset and Liability | The table below shows significant movements in contract assets for the six months ended June 30: (in millions) 2021 2020 Beginning balance $ 315 $ 334 Revenues recognized during the period but not billed 266 252 Amounts reclassified to trade accounts receivable (229) (247) Ending balance $ 352 $ 339 (in millions) 2021 2020 Beginning balance $ 419 $ 336 Amounts billed but not recognized as revenues 327 297 Revenues recognized related to the opening balance of deferred revenue (357) (268) Ending balance $ 389 $ 365 |
Disaggregation of Revenue | Three Months Ended Six Months Ended (in millions) FS HC P&R CMT Total FS HC P&R CMT Total Geography: North America $ 1,049 $ 1,131 $ 723 $ 469 $ 3,372 $ 2,062 $ 2,232 $ 1,441 $ 920 $ 6,655 United Kingdom 130 45 116 112 403 255 85 222 211 773 Continental Europe 186 120 132 44 482 378 238 235 87 938 Europe - Total 316 165 248 156 885 633 323 457 298 1,711 Rest of World 137 29 84 78 328 265 58 155 142 620 Total $ 1,502 $ 1,325 $ 1,055 $ 703 $ 4,585 $ 2,960 $ 2,613 $ 2,053 $ 1,360 $ 8,986 Service line: Consulting and technology services $ 1,012 $ 769 $ 668 $ 422 $ 2,871 $ 1,979 $ 1,514 $ 1,284 $ 818 $ 5,595 Outsourcing services 490 556 387 281 1,714 981 1,099 769 542 3,391 Total $ 1,502 $ 1,325 $ 1,055 $ 703 $ 4,585 $ 2,960 $ 2,613 $ 2,053 $ 1,360 $ 8,986 Type of contract: Time and materials $ 908 $ 514 $ 446 $ 422 $ 2,290 $ 1,807 $ 1,033 $ 864 $ 819 $ 4,523 Fixed-price 500 529 506 249 1,784 971 1,028 987 479 3,465 Transaction or volume-based 94 282 103 32 511 182 552 202 62 998 Total $ 1,502 $ 1,325 $ 1,055 $ 703 $ 4,585 $ 2,960 $ 2,613 $ 2,053 $ 1,360 $ 8,986 Three Months Ended Six Months Ended (in millions) FS HC P&R CMT Total FS HC P&R CMT Total Geography: North America $ 978 $ 999 $ 620 $ 409 $ 3,006 $ 1,990 $ 2,037 $ 1,309 $ 860 $ 6,196 United Kingdom 110 36 89 79 314 230 76 182 163 651 Continental Europe 182 102 94 41 419 373 201 203 79 856 Europe - Total 292 138 183 120 733 603 277 385 242 1,507 Rest of World 126 20 64 51 261 254 37 127 104 522 Total $ 1,396 $ 1,157 $ 867 $ 580 $ 4,000 $ 2,847 $ 2,351 $ 1,821 $ 1,206 $ 8,225 Service line: Consulting and technology services $ 933 $ 666 $ 520 $ 338 $ 2,457 $ 1,880 $ 1,328 $ 1,110 $ 686 $ 5,004 Outsourcing services 463 491 347 242 1,543 967 1,023 711 520 3,221 Total $ 1,396 $ 1,157 $ 867 $ 580 $ 4,000 $ 2,847 $ 2,351 $ 1,821 $ 1,206 $ 8,225 Type of contract: Time and materials $ 873 $ 468 $ 363 $ 357 $ 2,061 $ 1,757 $ 943 $ 772 $ 740 $ 4,212 Fixed-price 444 417 409 201 1,471 927 826 852 420 3,025 Transaction or volume-based 79 272 95 22 468 163 582 197 46 988 Total $ 1,396 $ 1,157 $ 867 $ 580 $ 4,000 $ 2,847 $ 2,351 $ 1,821 $ 1,206 $ 8,225 |
Reinsurance Recoverable, Allowance for Credit Loss | The following table presents the activity in the allowance for trade accounts receivable for the six months ended June 30: (in millions) 2021 2020 Beginning balance $ 57 $ 67 Impact of adoption of the Credit Loss Standard — (1) Credit loss expense 1 18 Write-offs charged against the allowance (9) (9) Ending balance $ 49 $ 75 |
Business Combinations (Tables)
Business Combinations (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
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 li abilities assumed were as follows: (in millions) Servian Magenic ESG Mobility Linium Total Weighted Average Useful Life Cash $ 4 $ 13 $ 28 $ — $ 45 Trade accounts receivable 15 17 24 5 61 Property and equipment and other assets 7 4 8 1 20 Operating lease assets, net 7 10 27 — 44 Non-deductible goodwill 178 34 31 — 243 Tax-deductible goodwill — 114 24 57 195 Customer relationship assets 76 90 77 24 267 10.2 years Other intangible assets 2 1 — — 3 4.1 years Current liabilities (13) (30) (20) (2) (65) Noncurrent liabilities (29) (7) (65) — (101) Purchase price, inclusive of contingent consideration $ 247 $ 246 $ 134 $ 85 $ 712 |
Investments (Tables)
Investments (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Investments [Abstract] | |
Marketable Securities | Our investments were as follows: (in millions) June 30, 2021 December 31, 2020 Short-term investments: Equity investment security $ 27 $ 27 Available-for-sale investment securities 105 — Held-to-maturity investment securities 27 14 Time deposits 323 3 Total short-term investments $ 482 $ 44 Long-term investments: Equity and cost method investments $ 36 $ 35 Restricted time deposits (1) 397 405 Total long-term investments $ 433 $ 440 (1) See Note 8 . |
Unrealized Gain (Loss) on Investments | The amortized cost and fair value of held-to-maturity investment securities were as follows: (in millions) June 30, 2021 December 31, 2020 Amortized Fair Amortized Fair Short-term investments, maturing within one year: Corporate and other debt securities $ 7 $ 7 $ 14 $ 14 Commercial paper 20 20 — — Total short-term held-to-maturity investments $ 27 $ 27 $ 14 $ 14 |
Accrued Expenses And Other Cu_2
Accrued Expenses And Other Current Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Payables and Accruals [Abstract] | |
Accrued Expenses And Other Current Liabilities | Accrued expenses and other current liabilities were as follows: (in millions) June 30, 2021 December 31, 2020 Compensation and benefits $ 1,472 $ 1,607 Customer volume and other incentives 258 266 Income taxes 25 34 Professional fees 171 143 Other 308 469 Total accrued expenses and other current liabilities $ 2,234 $ 2,519 |
Debt (Tables)
Debt (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Debt Disclosure [Abstract] | |
Summary of Long-term Debt | The following summarizes our long-term debt balances as of: (in millions) June 30, 2021 December 31, 2020 Term Loan $ 685 $ 703 Less: Current maturities - Term Loan (38) (38) Deferred financing costs (2) (2) Long-term debt, net of current maturities $ 645 $ 663 |
Income Taxes Income Taxes (Tabl
Income Taxes Income Taxes (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Income Tax Disclosure [Abstract] | |
Schedule of Effective Income Tax Rates | Our effective income tax rates were as follows: Three Months Ended Six Months Ended 2021 2020 2021 2020 Effective income tax rate 26.5 % 27.1 % 25.3 % 27.5 % |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
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: (in millions) June 30, 2021 December 31, 2020 Designation of Derivatives Location on Statement of Assets Liabilities Assets Liabilities Foreign exchange forward and option contracts – Designated as cash flow hedging instruments Other current assets $ 35 $ — $ 45 $ — Other noncurrent assets 9 — 26 — Accrued expenses and other current liabilities — 2 — — Other noncurrent liabilities — 2 — — Total $ 44 $ 4 $ 71 $ — Foreign exchange forward contracts – Not designated as hedging instruments Other current assets 1 — 1 — Accrued expenses and other current liabilities — — — 1 Total 1 — 1 1 Total $ 45 $ 4 $ 72 $ 1 |
Notional value of outstanding contracts by year of maturity | The notional values of our outstanding contracts by year of maturity were as follows: (in millions) June 30, 2021 December 31, 2020 2021 $ 815 $ 1,470 2022 1,098 803 2023 325 — Total notional value of contracts outstanding (1) $ 2,238 $ 2,273 |
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 June 30: (in millions) Change in Location of Net Gains (Losses) Reclassified Net Gains (Losses) Reclassified 2021 2020 2021 2020 Foreign exchange forward and option contracts – Designated as cash flow hedging instruments $ (3) $ 35 Cost of revenues $ 12 $ (9) SG&A expenses 2 (2) Total $ 14 $ (11) The following table provides information on the location and amounts of pre-tax gains and losses on our cash flow hedges for the six months ended June 30: (in millions) Change in Location of Net Gains (Losses) Reclassified Net Gains (Losses) Reclassified 2021 2020 2021 2020 Foreign exchange forward and option contracts – Designated as cash flow hedging instruments $ 14 $ (78) Cost of revenues $ 30 $ (12) SG&A expenses 5 (2) Total $ 35 $ (14) |
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: (in millions) June 30, 2021 December 31, 2020 Notional Fair Value Notional Fair Value Contracts outstanding $ 796 $ 1 $ 637 $ — |
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 six months ended June 30: Location of Net Gains (Losses) on Amount of Net Gains (Losses) on Derivative Instruments Three Months Ended Six Months Ended (in millions) 2021 2020 2021 2020 Foreign exchange forward contracts – Not designated as hedging instruments Foreign currency exchange gains (losses), net $ 3 $ (3) $ 6 $ 3 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
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 June 30, 2021: (in millions) Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 260 $ — $ — $ 260 Time deposits — 4 — 4 Commercial paper — 285 — 285 Short-term investments: Time deposits — 323 — 323 Equity investment security 27 — — 27 Available-for-sale investment securities: Commercial paper — 105 — 105 Other current assets: Foreign exchange forward and option contracts — 36 — 36 Long-term investments: Restricted time deposits (1) — 397 — 397 Other noncurrent assets Foreign exchange forward contracts — 9 — 9 Accrued expenses and other current liabilities: Foreign exchange forward contracts and option contracts — (2) — (2) Contingent consideration liabilities — — (27) (27) Other noncurrent liabilities: Foreign exchange forward contracts and option contracts — (2) — (2) Contingent consideration liabilities — — (13) (13) (1) See Note 8 . The following table summarizes our financial assets and (liabilities) measured at fair value on a recurring basis as of December 31, 2020: (in millions) Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 209 $ — $ — $ 209 Time deposits — 203 — 203 Commercial paper — 200 — 200 Short-term investments: Time deposits — 3 — 3 Equity investment security 27 — — 27 Other current assets: Foreign exchange forward and option contracts — 46 — 46 Long-term investments: Restricted time deposits (1) — 405 — 405 Other noncurrent assets: Foreign exchange forward and option contracts — 26 — 26 Accrued expenses and other current liabilities: Foreign exchange forward and option contracts — (1) — (1) Contingent consideration liabilities — — (11) (11) Other noncurrent liabilities: Contingent consideration liabilities — — (43) (43) (1) Se e Note 8 . |
Summary of Changes in Level 3 Contingent Consideration Liabilities | The following table summarizes the changes in Level 3 contingent consideration liabilities for the six months ended June 30: (in millions) 2021 2020 Beginning balance $ 54 $ 38 Initial measurement recognized at acquisition 8 42 Change in fair value recognized in SG&A expenses (19) (23) Payments (3) (3) Ending balance $ 40 $ 54 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
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 six months ended June 30, 2021: Three Months Six Months (in millions) Before Tax Tax Net of Tax Before Tax Tax Net of Tax Foreign currency translation adjustments: Beginning balance $ 29 $ 1 $ 30 $ 56 $ (1) $ 55 Change in foreign currency translation adjustments 15 (1) 14 (12) 1 (11) Ending balance $ 44 $ — $ 44 $ 44 $ — $ 44 Unrealized gains on cash flow hedges: Beginning balance $ 63 $ (12) $ 51 $ 67 $ (12) $ 55 Unrealized (losses) gains arising during the period (3) — (3) 14 (3) 11 Reclassifications of net (gains) to: Cost of revenues (12) 3 (9) (30) 6 (24) SG&A expenses (2) 1 (1) (5) 1 (4) Net change (17) 4 (13) (21) 4 (17) Ending balance $ 46 $ (8) $ 38 $ 46 $ (8) $ 38 Accumulated other comprehensive income (loss): Beginning balance $ 92 $ (11) $ 81 $ 123 $ (13) $ 110 Other comprehensive income (loss) (2) 3 1 (33) 5 (28) Ending balance $ 90 $ (8) $ 82 $ 90 $ (8) $ 82 Changes in "Accumulated other comprehensive income (loss)" by component were as follows for the three and six months ended June 30, 2020: Three Months Six Months (in millions) Before Tax Tax Net of Tax Before Tax Tax Net of Tax Foreign currency translation adjustments: Beginning balance $ (202) $ 3 $ (199) $ (63) $ (1) $ (64) Change in foreign currency translation adjustments 37 1 38 (102) 5 (97) Ending balance $ (165) $ 4 $ (161) $ (165) $ 4 $ (161) Unrealized (losses) gains on cash flow hedges: Beginning balance $ (79) $ 14 $ (65) $ 31 $ (5) $ 26 Unrealized gains (losses) arising during the period 35 (6) 29 (78) 13 (65) Reclassifications of net losses to: Cost of revenues 9 (2) 7 12 (2) 10 SG&A expenses 2 — 2 2 — 2 Net change 46 (8) 38 (64) 11 (53) Ending balance $ (33) $ 6 $ (27) $ (33) $ 6 $ (27) Accumulated other comprehensive income (loss): Beginning balance $ (281) $ 17 $ (264) $ (32) $ (6) $ (38) Other comprehensive income (loss) 83 (7) 76 (166) 16 (150) Ending balance $ (198) $ 10 $ (188) $ (198) $ 10 $ (188) |
Segment Information (Tables)
Segment Information (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Segment Reporting [Abstract] | |
Segment Operating Profit | Segment operating profits by reportable segment were as follows: Three Months Ended Six Months Ended (in millions) 2021 2020 2021 2020 Financial Services $ 439 $ 365 $ 845 $ 746 Healthcare 388 305 799 626 Products and Resources 329 237 637 498 Communications, Media and Technology 235 174 450 364 Total segment operating profit 1,391 1,081 2,731 2,234 Less: unallocated costs 695 614 1,366 1,188 Income from operations $ 696 $ 467 $ 1,365 $ 1,046 |
Revenues And Long-Lived Assets By Geographic Area | Long-lived assets by geographic area are as follows: As of (in millions) June 30, 2021 December 31, 2020 Long-lived Assets: (1) North America (2) $ 389 $ 399 Europe 84 88 Rest of World (3) 752 764 Total $ 1,225 $ 1,251 (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_2
Interim Consolidated Financial Statements (Details) - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Retained earnings | $ 11,086 | $ 10,689 |
Trade accounts receivable, net | $ 3,419 | $ 3,087 |
Revenues - Capitalized Costs to
Revenues - Capitalized Costs to Fulfill Contract with Customer (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Revenue from Contract with Customer [Abstract] | ||
Beginning balance | $ 467 | $ 485 |
Amortization expense | 58 | 44 |
Costs capitalized | 25 | 59 |
Impairment | (9) | (6) |
Ending balance | $ 425 | $ 494 |
Revenues - Significant Movement
Revenues - Significant Movements in Contract Assets (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Revenue from Contract with Customer [Abstract] | ||
Beginning balance | $ 315 | $ 334 |
Revenues recognized during the period but not billed | 266 | 252 |
Amounts reclassified to trade accounts receivable | 229 | 247 |
Ending balance | $ 352 | $ 339 |
Revenues - Significant Moveme_2
Revenues - Significant Movements in Deferred Revenue Balances (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Revenue from Contract with Customer [Abstract] | ||
Beginning balance | $ 419 | $ 336 |
Amounts billed but not recognized as revenues | 327 | 297 |
Revenues recognized related to the opening balance of deferred revenue | 357 | 268 |
Ending balance | $ 389 | $ 365 |
Revenues - Remaining Performanc
Revenues - Remaining Performance Obligations Narrative (Details) $ in Millions | Jun. 30, 2021USD ($) |
Revenue from Contract with Customer [Abstract] | |
Revenue, remaining performance obligation | $ 1,705 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, percentage | 75.00% |
Revenue, remaining performance obligation, period | 2 years |
Revenues - Disaggregation of Re
Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Disaggregation of Revenue [Line Items] | ||||
Revenue | $ 4,585 | $ 4,000 | $ 8,986 | $ 8,225 |
Time-and-materials [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 2,290 | 2,061 | 4,523 | 4,212 |
Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 1,784 | 1,471 | 3,465 | 3,025 |
Transaction or volume-based [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 511 | 468 | 998 | 988 |
North America [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 3,372 | 3,006 | 6,655 | 6,196 |
United Kingdom [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 403 | 314 | 773 | 651 |
Europe, excluding United Kingdom [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 482 | 419 | 938 | 856 |
Europe [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 885 | 733 | 1,711 | 1,507 |
Rest of World [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 328 | 261 | 620 | 522 |
Consulting And Technology Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 2,871 | 2,457 | 5,595 | 5,004 |
Outsourcing Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 1,714 | 1,543 | 3,391 | 3,221 |
Financial Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 1,502 | 1,396 | 2,960 | 2,847 |
Financial Services [Member] | Time-and-materials [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 908 | 873 | 1,807 | 1,757 |
Financial Services [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 500 | 444 | 971 | 927 |
Financial Services [Member] | Transaction or volume-based [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 94 | 79 | 182 | 163 |
Financial Services [Member] | North America [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 1,049 | 978 | 2,062 | 1,990 |
Financial Services [Member] | United Kingdom [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 130 | 110 | 255 | 230 |
Financial Services [Member] | Europe, excluding United Kingdom [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 186 | 182 | 378 | 373 |
Financial Services [Member] | Europe [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 316 | 292 | 633 | 603 |
Financial Services [Member] | Rest of World [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 137 | 126 | 265 | 254 |
Financial Services [Member] | Consulting And Technology Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 1,012 | 933 | 1,979 | 1,880 |
Financial Services [Member] | Outsourcing Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 490 | 463 | 981 | 967 |
Products and Resources [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 1,055 | 867 | 2,053 | 1,821 |
Products and Resources [Member] | Time-and-materials [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 446 | 363 | 864 | 772 |
Products and Resources [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 506 | 409 | 987 | 852 |
Products and Resources [Member] | Transaction or volume-based [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 103 | 95 | 202 | 197 |
Products and Resources [Member] | North America [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 723 | 620 | 1,441 | 1,309 |
Products and Resources [Member] | United Kingdom [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 116 | 89 | 222 | 182 |
Products and Resources [Member] | Europe, excluding United Kingdom [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 132 | 94 | 235 | 203 |
Products and Resources [Member] | Europe [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 248 | 183 | 457 | 385 |
Products and Resources [Member] | Rest of World [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 84 | 64 | 155 | 127 |
Products and Resources [Member] | Consulting And Technology Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 668 | 520 | 1,284 | 1,110 |
Products and Resources [Member] | Outsourcing Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 387 | 347 | 769 | 711 |
Communication, Media and Technology [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 703 | 580 | 1,360 | 1,206 |
Communication, Media and Technology [Member] | Time-and-materials [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 422 | 357 | 819 | 740 |
Communication, Media and Technology [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 249 | 201 | 479 | 420 |
Communication, Media and Technology [Member] | Transaction or volume-based [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 32 | 22 | 62 | 46 |
Communication, Media and Technology [Member] | North America [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 469 | 409 | 920 | 860 |
Communication, Media and Technology [Member] | United Kingdom [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 112 | 79 | 211 | 163 |
Communication, Media and Technology [Member] | Europe, excluding United Kingdom [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 44 | 41 | 87 | 79 |
Communication, Media and Technology [Member] | Europe [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 156 | 120 | 298 | 242 |
Communication, Media and Technology [Member] | Rest of World [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 78 | 51 | 142 | 104 |
Communication, Media and Technology [Member] | Consulting And Technology Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 422 | 338 | 818 | 686 |
Communication, Media and Technology [Member] | Outsourcing Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 281 | 242 | 542 | 520 |
Healthcare Segment [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 1,325 | 1,157 | 2,613 | 2,351 |
Healthcare Segment [Member] | Time-and-materials [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 514 | 468 | 1,033 | 943 |
Healthcare Segment [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 529 | 417 | 1,028 | 826 |
Healthcare Segment [Member] | Transaction or volume-based [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 282 | 272 | 552 | 582 |
Healthcare Segment [Member] | North America [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 1,131 | 999 | 2,232 | 2,037 |
Healthcare Segment [Member] | United Kingdom [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 45 | 36 | 85 | 76 |
Healthcare Segment [Member] | Europe, excluding United Kingdom [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 120 | 102 | 238 | 201 |
Healthcare Segment [Member] | Europe [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 165 | 138 | 323 | 277 |
Healthcare Segment [Member] | Rest of World [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 29 | 20 | 58 | 37 |
Healthcare Segment [Member] | Consulting And Technology Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 769 | 666 | 1,514 | 1,328 |
Healthcare Segment [Member] | Outsourcing Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | $ 556 | $ 491 | $ 1,099 | $ 1,023 |
Revenues - Trade Accounts And A
Revenues - Trade Accounts And Allowance for Doubtful Accounts (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | $ 57 | $ 67 |
Credit loss expense | 1 | 18 |
Write-offs charged against the allowance | (9) | (9) |
Ending Balance | $ 49 | 75 |
Cumulative Effect, Period of Adoption, Adjustment | ||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning Balance | $ (1) |
Business Combinations Narrative
Business Combinations Narrative (Details) | Jun. 30, 2021 |
Linium | |
Business Acquisition [Line Items] | |
Ownership percentage of recently acquired businesses | 100.00% |
Magenic | |
Business Acquisition [Line Items] | |
Ownership percentage of recently acquired businesses | 100.00% |
Servian | |
Business Acquisition [Line Items] | |
Ownership percentage of recently acquired businesses | 100.00% |
ESG Mobility | |
Business Acquisition [Line Items] | |
Ownership percentage of recently acquired businesses | 100.00% |
Business Combinations Allocatio
Business Combinations Allocation of Purchase Price (Details) $ in Millions | 6 Months Ended |
Jun. 30, 2021USD ($) | |
Business Acquisition [Line Items] | |
Cash | $ 45 |
Trade accounts receivable | 61 |
Property and equipment and other assets | 20 |
Operating lease assets, net | 44 |
Non-deductible goodwill | 243 |
Current liabilities | 65 |
Noncurrent liabilities | 101 |
Purchase price, inclusive of contingent consideration | 712 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Tax-Deductible Goodwill | 195 |
Linium | |
Business Acquisition [Line Items] | |
Cash | 0 |
Trade accounts receivable | 5 |
Property and equipment and other assets | 1 |
Operating lease assets, net | 0 |
Non-deductible goodwill | 0 |
Current liabilities | 2 |
Noncurrent liabilities | 0 |
Purchase price, inclusive of contingent consideration | 85 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Tax-Deductible Goodwill | 57 |
Magenic | |
Business Acquisition [Line Items] | |
Cash | 13 |
Trade accounts receivable | 17 |
Property and equipment and other assets | 4 |
Operating lease assets, net | 10 |
Non-deductible goodwill | 34 |
Current liabilities | 30 |
Noncurrent liabilities | 7 |
Purchase price, inclusive of contingent consideration | 246 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Tax-Deductible Goodwill | 114 |
ESG Mobility | |
Business Acquisition [Line Items] | |
Cash | 28 |
Trade accounts receivable | 24 |
Property and equipment and other assets | 8 |
Operating lease assets, net | 27 |
Non-deductible goodwill | 31 |
Current liabilities | 20 |
Noncurrent liabilities | 65 |
Purchase price, inclusive of contingent consideration | 134 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Tax-Deductible Goodwill | 24 |
Servian | |
Business Acquisition [Line Items] | |
Cash | 4 |
Trade accounts receivable | 15 |
Property and equipment and other assets | 7 |
Operating lease assets, net | 7 |
Non-deductible goodwill | 178 |
Current liabilities | 13 |
Noncurrent liabilities | 29 |
Purchase price, inclusive of contingent consideration | 247 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Tax-Deductible Goodwill | 0 |
Customer Relationships [Member] | |
Business Acquisition [Line Items] | |
Intangible assets acquired | $ 267 |
Weighted Average Useful Life | 10 years 2 months 12 days |
Customer Relationships [Member] | Linium | |
Business Acquisition [Line Items] | |
Intangible assets acquired | $ 24 |
Customer Relationships [Member] | Magenic | |
Business Acquisition [Line Items] | |
Intangible assets acquired | 90 |
Customer Relationships [Member] | ESG Mobility | |
Business Acquisition [Line Items] | |
Intangible assets acquired | 77 |
Customer Relationships [Member] | Servian | |
Business Acquisition [Line Items] | |
Intangible assets acquired | 76 |
Other Intangible Assets [Member] | |
Business Acquisition [Line Items] | |
Intangible assets acquired | $ 3 |
Weighted Average Useful Life | 4 years 1 month 6 days |
Other Intangible Assets [Member] | Linium | |
Business Acquisition [Line Items] | |
Intangible assets acquired | $ 0 |
Other Intangible Assets [Member] | Magenic | |
Business Acquisition [Line Items] | |
Intangible assets acquired | 1 |
Other Intangible Assets [Member] | ESG Mobility | |
Business Acquisition [Line Items] | |
Intangible assets acquired | 0 |
Other Intangible Assets [Member] | Servian | |
Business Acquisition [Line Items] | |
Intangible assets acquired | $ 2 |
Restructuring Charges (Details)
Restructuring Charges (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended |
Jun. 30, 2020 | Jun. 30, 2020 | |
Realignment Program [Member] | ||
Accrued Restructuring Costs | ||
Restructuring costs incurred | $ 12 | $ 32 |
2020 Fit for Growth [Member] | ||
Accrued Restructuring Costs | ||
Restructuring costs incurred | $ 59 | $ 94 |
Investments (Details)
Investments (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Short-term investments: | |||
Available-for-sale securities, current | $ 0 | ||
Total short-term investments | $ 482 | 44 | |
Long-term investments: | |||
Long-term Investments, Total | 433 | 440 | |
Cost Method Investments | 3 | 4 | |
Available-for-sale Securities, Gross Realized Gain (Loss) | 0 | $ 0 | |
Long-term investments [Member] | |||
Long-term investments: | |||
Equity and Cost Method Investments | 36 | 35 | |
Restricted investments | 397 | 405 | |
Short-term Investments [Member] | |||
Short-term investments: | |||
Equity investment security | 27 | 27 | |
Held-to-maturity investment securities | 27 | 14 | |
Time Deposits | 323 | $ 3 | |
Long-term investments: | |||
Debt Securities, Available-for-sale, Amortized Cost | 105 | ||
Available-for-sale securities, current | $ 105 |
Investments (Schedule of Held-t
Investments (Schedule of Held-to-Maturity Securities) (Details) - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | $ 0 | |
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 | $ 3 | |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 0 | |
Commercial Paper [Member] | Maximum | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | 1 | |
Short-term Investments [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity investment securities | 27 | 14 |
Fair Value | 27 | 14 |
Short-term Investments [Member] | Corporate And Other Debt Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity investment securities | 7 | 14 |
Fair Value | 7 | 14 |
Short-term Investments [Member] | Commercial Paper [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity investment securities | 20 | 0 |
Fair Value | $ 20 | $ 0 |
Investments - Narrative (Detail
Investments - Narrative (Details) - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Equity Method Investments | $ 33 | $ 31 |
Cost Method Investments | 3 | $ 4 |
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 | 3 | |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 0 | |
Commercial Paper [Member] | Maximum | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | $ 1 |
Accrued Expenses And Other Cu_3
Accrued Expenses And Other Current Liabilities (Details) - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Payables and Accruals [Abstract] | ||
Compensation and benefits | $ 1,472 | $ 1,607 |
Customer volume and other incentives | 258 | 266 |
Income taxes | 25 | 34 |
Professional fees | 171 | 143 |
Other | 308 | 469 |
Total accrued expenses and other current liabilities | $ 2,234 | $ 2,519 |
Debt (Additional Disclosures) (
Debt (Additional Disclosures) (Details) $ in Millions, ₨ in Billions | 6 Months Ended | ||
Jun. 30, 2021USD ($) | Feb. 28, 2021INR (₨) | Nov. 30, 2018USD ($) | |
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 | ||
Working Capital Facility [Member] | |||
Line of Credit Facility [Line Items] | |||
Maximum borrowing capacity | $ 175 | ₨ 13 |
Debt (Short-term Debt) (Details
Debt (Short-term Debt) (Details) $ in Millions, ₨ in Billions | Jun. 30, 2021USD ($) | Feb. 28, 2021INR (₨) | Dec. 31, 2020USD ($) |
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 | $ 175 | ₨ 13 |
Debt (Long-term Debt) (Details)
Debt (Long-term Debt) (Details) - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Debt Instrument [Line Items] | ||
Long-term debt, net of current maturities | $ 645 | $ 663 |
Credit Agreement [Member] | ||
Debt Instrument [Line Items] | ||
Deferred financing costs | (2) | (2) |
Term Loan [Member] | Credit Agreement [Member] | ||
Debt Instrument [Line Items] | ||
Term Loan | 685 | 703 |
Current maturities | $ (38) | $ (38) |
Income Taxes - Tax Rates (Detai
Income Taxes - Tax Rates (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Effective Income Tax Rates [Abstract] | ||||||
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities | $ 43 | |||||
Discrete tax benefit | 14 | |||||
Effective Income Tax Rate | 26.50% | 27.10% | 25.30% | 27.50% | ||
Adjustment to current income tax balance as a result of settlement | $ 29 | |||||
Prepaid Taxes | $ 370 | $ 370 | $ 274 |
Income Taxes (Narrative) (One-t
Income Taxes (Narrative) (One-time Transaction) (Details) $ in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||
Jun. 30, 2021USD ($) | Jun. 30, 2020USD ($) | Jun. 30, 2021USD ($) | Jun. 30, 2020USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2013USD ($) | Jun. 30, 2021INR (₨) | Dec. 31, 2020USD ($) | Apr. 30, 2018INR (₨) | |
One-time Transaction [Table] [Line Items] | |||||||||
Income tax expense | $ 184 | $ 134 | $ 344 | $ 276 | |||||
Long-term investments [Member] | |||||||||
One-time Transaction [Table] [Line Items] | |||||||||
Restricted investments | 397 | 397 | $ 405 | ||||||
Indian Income Tax Department (ITD) [Member] | Foreign tax authority [Member] | |||||||||
One-time Transaction [Table] [Line Items] | |||||||||
Deposits assets | $ 67 | $ 67 | 68 | ₨ 5,000,000,000 | |||||
Desposits assets, percent disputed tax amount | 15.00% | 15.00% | 15.00% | ||||||
Restricted investments initially deposited | $ 377 | $ 377 | 384 | ₨ 28,000,000,000 | |||||
Indian Income Tax Department (ITD) [Member] | Foreign tax authority [Member] | Other Noncurrent Assets [Member] | |||||||||
One-time Transaction [Table] [Line Items] | |||||||||
Deposits assets | 67 | 67 | $ 68 | ||||||
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 | $ 444 | $ 444 | ₨ 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 | Jun. 30, 2021 | Dec. 31, 2020 |
Derivatives, Fair Value [Line Items] | ||
Derivative assets fair value | $ 45 | $ 72 |
Derivative liabilities fair value | 4 | 1 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets fair value | 1 | 1 |
Derivative liabilities fair value | 0 | 1 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward [Member] | Other Current Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets fair value | 1 | 1 |
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 | 0 | 1 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets fair value | 44 | 71 |
Derivative liabilities fair value | 4 | 0 |
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 | 35 | 45 |
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 | 9 | 26 |
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 | 0 |
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 | $ 2 | $ 0 |
Derivative Financial Instrume_4
Derivative Financial Instruments (Narrative) (Details) $ in Millions | 6 Months Ended |
Jun. 30, 2021USD ($) | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Cash flow hedge gains (losses) expected to be reclassified to earnings within the next 12 months | $ 32 |
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) - Designated as Hedging Instrument [Member] - Cash Flow Hedging [Member] - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Foreign Exchange Contract | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | $ 2,238 | $ 2,273 |
Foreign Exchange Contract, Maturity 2021 [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 815 | 1,470 |
Foreign Exchange Contract, Maturity 2022 | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 1,098 | 803 |
Foreign Exchange Contract, Maturity 2023 | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 325 | 0 |
Foreign Exchange Option [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | $ 128 | $ 133 |
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 | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Net Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (effective portion) | $ 14 | $ (11) | $ 35 | $ (14) |
Cost Of Revenues [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Net Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (effective portion) | 12 | (9) | 30 | (12) |
Selling, General and Administrative Expenses [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Net Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (effective portion) | 2 | (2) | 5 | (2) |
Foreign Exchange Contract | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Change in Derivative (Losses) Gains Recognized in Accumulated Other Comprehensive Income (Loss) (effective portion) | $ (3) | $ 35 | $ 14 | $ (78) |
Derivative Financial Instrume_7
Derivative Financial Instruments (Other Derivatives) (Details) - Not Designated as Hedging Instrument [Member] - Foreign Exchange Forward [Member] - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Derivative [Line Items] | ||
Market Value | $ 1 | $ 0 |
Derivative, Notional Amount | $ 796 | $ 637 |
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 | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
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 | $ 3 | $ (3) | $ 6 | $ 3 |
Fair Value Measurements (Financ
Fair Value Measurements (Financial Assets And (Liabilities) Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Millions | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Short-term Investments [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Trading Securities, Equity | $ 27 | $ 27 | ||
Available-for-sale securities, current | 105 | |||
Long-term investments [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Restricted investments | 397 | 405 | ||
Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value | 40 | $ 54 | 54 | $ 38 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Issuances | 8 | 42 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings | (19) | (23) | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | (3) | $ (3) | ||
Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Trading Securities, Equity | 27 | |||
Recurring [Member] | Short-term Investments [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Trading Securities, Equity | 27 | |||
Available-for-sale securities, current | 105 | |||
Recurring [Member] | Other Current Assets [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative financial instruments, assets | 36 | 46 | ||
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 | (27) | |||
Derivative financial instruments, liabilities | (2) | |||
Recurring [Member] | Other Noncurrent Assets [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative financial instruments, assets | 9 | 26 | ||
Recurring [Member] | Other Noncurrent Liabilities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Contingent consideration liabilities | (13) | (43) | ||
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 | 397 | 405 | ||
Recurring [Member] | Other Current Liabilities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Contingent consideration liabilities | (11) | |||
Derivative financial instruments, liabilities | (1) | |||
Recurring [Member] | Money Market Funds [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Money market funds | 260 | 209 | ||
Recurring [Member] | Commercial Paper [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Money market funds | 285 | 200 | ||
Recurring [Member] | Time Deposits | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Money market funds | 4 | 203 | ||
Recurring [Member] | Level 1 [Member] | Short-term Investments [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Trading Securities, Equity | 27 | 27 | ||
Available-for-sale securities, current | 0 | |||
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 | |||
Derivative financial instruments, liabilities | 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] | Other Current Liabilities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Contingent consideration liabilities | 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 | 260 | 209 | ||
Recurring [Member] | Level 2 [Member] | Short-term Investments [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Trading Securities, Equity | 0 | 0 | ||
Available-for-sale securities, current | 105 | |||
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 | 36 | 46 | ||
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 | |||
Derivative financial instruments, liabilities | (2) | |||
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 | 9 | 26 | ||
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 | 397 | 405 | ||
Recurring [Member] | Level 2 [Member] | Other Current Liabilities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Contingent consideration liabilities | 0 | |||
Derivative financial instruments, liabilities | (1) | |||
Recurring [Member] | Level 2 [Member] | Commercial Paper [Member] | Cash Equivalents [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Money market funds | 285 | 200 | ||
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 | 4 | 203 | ||
Recurring [Member] | Level 3 [Member] | Short-term Investments [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Trading Securities, Equity | 0 | 0 | ||
Available-for-sale securities, current | 0 | |||
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 | (27) | |||
Derivative financial instruments, liabilities | 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 | (13) | (43) | ||
Derivative financial instruments, liabilities | 0 | |||
Recurring [Member] | Level 3 [Member] | Other Current Liabilities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Contingent consideration liabilities | (11) | |||
Derivative financial instruments, liabilities | 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 | 323 | 3 | ||
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 | 323 | 3 | ||
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 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||
AOCI, beginning balance | $ 11,037 | $ 10,836 | $ 10,613 | $ 11,022 | $ 10,836 | $ 11,022 |
Other Comprehensive Income (Loss), before Tax [Abstract] | ||||||
Net change, Net of Tax Amount | 38 | (11) | (97) | |||
Other comprehensive income (loss) | 1 | 76 | (28) | (150) | ||
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ||||||
Total stockholders’ equity | 11,205 | 11,037 | 10,972 | 10,613 | 11,205 | 10,972 |
Foreign currency translation adjustments: [Member] | ||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||
AOCI before tax, beginning balance | 29 | 56 | (202) | (63) | 56 | (63) |
AOCI tax, beginning balance | 1 | (1) | 3 | (1) | (1) | (1) |
AOCI, beginning balance | 30 | 55 | (199) | (64) | 55 | (64) |
Other Comprehensive Income (Loss), before Tax [Abstract] | ||||||
Net change, Before Tax Amount | 15 | 37 | (12) | (102) | ||
Net change, Tax Effect | (1) | 1 | 1 | 5 | ||
Other comprehensive income (loss) | 14 | 38 | (97) | |||
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ||||||
AOCI before tax, ending balance | 44 | 29 | (165) | (202) | 44 | (165) |
AOCI tax, ending balance | 0 | 1 | 4 | 3 | 0 | 4 |
Total stockholders’ equity | 44 | 30 | (161) | (199) | 44 | (161) |
Unrealized gains on cash flow hedges: [Member] | ||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||
AOCI before tax, beginning balance | 63 | 67 | (79) | 31 | 67 | 31 |
AOCI tax, beginning balance | (12) | (12) | 14 | (5) | (12) | (5) |
AOCI, beginning balance | 51 | 55 | (65) | 26 | 55 | 26 |
Other Comprehensive Income (Loss), before Tax [Abstract] | ||||||
Net change, Before Tax Amount | (17) | 46 | (21) | (64) | ||
Net change, Tax Effect | 4 | (8) | 4 | 11 | ||
Other comprehensive income (loss) | (13) | 38 | (17) | (53) | ||
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ||||||
OCI, before reclassifications, before tax | (3) | 35 | 14 | (78) | ||
Other comprehensive income (loss) before reclassifications, tax | 0 | (6) | (3) | 13 | ||
OCI, before reclassifications, net of tax | (3) | 29 | 11 | (65) | ||
AOCI before tax, ending balance | 46 | 63 | (33) | (79) | 46 | (33) |
AOCI tax, ending balance | (8) | (12) | 6 | 14 | (8) | 6 |
Total stockholders’ equity | 38 | 51 | (27) | (65) | 38 | (27) |
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 | (12) | 9 | (30) | 12 | ||
Reclassification from AOCI, current period, tax | 3 | (2) | 6 | (2) | ||
Reclassification from AOCI, current period, net of tax | (9) | 7 | (24) | 10 | ||
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 | (2) | 2 | (5) | 2 | ||
Reclassification from AOCI, current period, tax | 1 | 0 | 1 | 0 | ||
Reclassification from AOCI, current period, net of tax | (1) | 2 | (4) | 2 | ||
Accumulated other comprehensive income (loss): | ||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||
AOCI before tax, beginning balance | 92 | 123 | (281) | (32) | 123 | (32) |
AOCI tax, beginning balance | (11) | (13) | 17 | (6) | (13) | (6) |
AOCI, beginning balance | 81 | 110 | (264) | (38) | 110 | (38) |
Other Comprehensive Income (Loss), before Tax [Abstract] | ||||||
Net change, Before Tax Amount | (2) | 83 | (33) | (166) | ||
Net change, Tax Effect | 3 | (7) | 5 | 16 | ||
Other comprehensive income (loss) | 1 | (29) | 76 | (226) | (28) | (150) |
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ||||||
AOCI before tax, ending balance | 90 | 92 | (198) | (281) | 90 | (198) |
AOCI tax, ending balance | (8) | (11) | 10 | 17 | (8) | 10 |
Total stockholders’ equity | $ 82 | $ 81 | $ (188) | $ (264) | $ 82 | $ (188) |
Commitments and Contingencies (
Commitments and Contingencies (Details) - USD ($) $ in Millions | Apr. 20, 2021 | Oct. 27, 2020 | Jun. 30, 2021 | Dec. 31, 2020 | Mar. 31, 2019 |
Other Commitments [Line Items] | |||||
Accrued Liabilities and Other Liabilities | $ 2,234 | $ 2,519 | |||
Insurance receivable for malpractice | $ 10 | $ 7 | |||
Syntel Sterling Best Shores Mauritius Ltd. [Member] | |||||
Other Commitments [Line Items] | |||||
Litigation settlement, amount awarded from other party | $ 570 | $ 855 | |||
Litigation Settlement Amount Awarded From Other Party, Punitive Damages | 285 | $ 570 | |||
Litigation Settlement Amount Awarded From Other Party, Actual Damages | $ 285 | ||||
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 | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Segment Reporting Information [Line Items] | ||||
Income from operations | $ 696 | $ 467 | $ 1,365 | $ 1,046 |
Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Income from operations | 1,391 | 1,081 | 2,731 | 2,234 |
Operating Segments [Member] | Financial Services [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Income from operations | 439 | 365 | 845 | 746 |
Operating Segments [Member] | Healthcare Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Income from operations | 388 | 305 | 799 | 626 |
Operating Segments [Member] | Products and Resources [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Income from operations | 329 | 237 | 637 | 498 |
Operating Segments [Member] | Communications, Media and Technology [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Income from operations | 235 | 174 | 450 | 364 |
Corporate, Non-Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Unallocated costs | $ 695 | $ 614 | $ 1,366 | $ 1,188 |
Segment Information (Long-Lived
Segment Information (Long-Lived Assets By Geographic Area) (Details) - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Long-Lived Assets [Line Items] | ||
Long-lived Assets | $ 1,225 | $ 1,251 |
North America [Member] | ||
Long-Lived Assets [Line Items] | ||
Long-lived Assets | 389 | 399 |
Europe [Member] | ||
Long-Lived Assets [Line Items] | ||
Long-lived Assets | 84 | 88 |
Rest of World [Member] | ||
Long-Lived Assets [Line Items] | ||
Long-lived Assets | $ 752 | $ 764 |
Subsequent Events (Details)
Subsequent Events (Details) - $ / shares | Jul. 25, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Mar. 31, 2020 |
Subsequent Event [Line Items] | |||||
Dividends declared per common share (in usd per share) | $ 0.24 | $ 0.24 | $ 0.22 | $ 0.22 | |
Subsequent Event [Member] | |||||
Subsequent Event [Line Items] | |||||
Dividends declared per common share (in usd per share) | $ 0.24 |