Cover Cover
Cover Cover - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2022 | Feb. 10, 2023 | Jun. 30, 2022 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Current Fiscal Year End Date | --12-31 | ||
Document Period End Date | Dec. 31, 2022 | ||
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 Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
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 | ||
ICFR Auditor Attestation Flag | true | ||
Entity Shell Company | false | ||
Entity Public Float | $ 34.9 | ||
Entity Common Stock, Shares Outstanding | 509,294,618 | ||
Documents Incorporated by Reference | The following documents are incorporated by reference into the Annual Report on Form 10-K: Portions of the registrant’s definitive Proxy Statement for its 2023 Annual Meeting of Stockholders are incorporated by reference into Part III of this Report. | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2022 | ||
Document Fiscal Period Focus | FY | ||
Entity Central Index Key | 0001058290 |
Audit Information
Audit Information | 12 Months Ended |
Dec. 31, 2022 | |
Audit Information [Abstract] | |
Auditor Firm ID | 238 |
Auditor Name | PricewaterhouseCoopers LLP |
Auditor Location | New York, New York |
Consolidated Statements Of Fina
Consolidated Statements Of Financial Position - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Assets | ||
Cash and cash equivalents | $ 2,191 | $ 1,792 |
Short-term investments | 310 | 927 |
Trade accounts receivable, net | 3,796 | 3,557 |
Other current assets | 969 | 1,066 |
Total current assets | 7,266 | 7,342 |
Property and equipment, net | 1,101 | 1,171 |
Operating lease assets, net | 876 | 933 |
Goodwill | 5,710 | 5,620 |
Intangible assets, net | 1,168 | 1,218 |
Deferred income tax assets, net | 642 | 404 |
Long-term investments | 427 | 463 |
Other noncurrent assets | 662 | 701 |
Total assets | 17,852 | 17,852 |
Liabilities and Stockholders' Equity | ||
Accounts payable | 360 | 361 |
Deferred revenue | 398 | 403 |
Short-term debt | 8 | 38 |
Operating lease liabilities | 174 | 195 |
Accrued expenses and other current liabilities | 2,407 | 2,532 |
Total current liabilities | 3,347 | 3,529 |
Deferred revenue, noncurrent | 19 | 40 |
Operating lease liabilities, noncurrent | 714 | 783 |
Deferred income tax liabilities, net | 180 | 218 |
Long-term debt | 638 | 626 |
Long-term income taxes payable | 283 | 378 |
Other noncurrent liabilities | 362 | 287 |
Total liabilities | 5,543 | 5,861 |
Commitments and contingencies (See Note 15) | ||
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, 509 and 525 shares issued and outstanding as of December 31, 2022 and 2021, respectively | 5 | 5 |
Additional paid-in capital | 15 | 27 |
Retained earnings | 12,588 | 11,922 |
Accumulated other comprehensive income (loss) | (299) | 37 |
Total stockholders’ equity | 12,309 | 11,991 |
Total liabilities and stockholders’ equity | $ 17,852 | $ 17,852 |
Consolidated Statements Of Fi_2
Consolidated Statements Of Financial Position (Parenthetical) - $ / shares | Dec. 31, 2022 | Dec. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.10 | $ 0.10 |
Preferred stock, shares authorized | 15,000,000 | 15,000,000 |
Preferred stock, issued | 0 | 0 |
Class A common stock, par value | $ 0.01 | $ 0.01 |
Class A common stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
Class A common stock, shares issued | 509,000,000 | 525,000,000 |
Class A common stock, shares outstanding | 509,000,000 | 525,000,000 |
Consolidated Statements Of Oper
Consolidated Statements Of Operations - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income Statement [Abstract] | |||
Depreciation, Depletion and Amortization | $ 569 | $ 574 | $ 552 |
Revenues | 19,428 | 18,507 | 16,652 |
Operating expenses: | |||
Cost of revenues (exclusive of depreciation and amortization expense shown separately below) | 12,448 | 11,604 | 10,671 |
Selling, general and administrative expenses | 3,443 | 3,503 | 3,100 |
Income from operations | 2,968 | 2,826 | 2,114 |
Other income (expense), net: | |||
Interest income | 59 | 30 | 119 |
Interest expense | (19) | (9) | (24) |
Foreign currency exchange gains (losses), net | 7 | (20) | (116) |
Other, net | 1 | 0 | 3 |
Total other income (expense), net | 48 | 1 | (18) |
Income before provision for income taxes | 3,016 | 2,827 | 2,096 |
Provision for income taxes | (730) | (693) | (704) |
Income (loss) from equity method investments | 4 | 3 | 0 |
Net income | $ 2,290 | $ 2,137 | $ 1,392 |
Basic earnings per share | $ 4.42 | $ 4.06 | $ 2.58 |
Diluted earnings per share | $ 4.41 | $ 4.05 | $ 2.57 |
Weighted average number of common shares outstanding—Basic | 518 | 527 | 540 |
Dilutive effect of shares issuable under stock-based compensation plans | 1 | 1 | 1 |
Weighted average number of common shares outstanding—Diluted | 519 | 528 | 541 |
Dividends declared per common share (in usd per share) | $ 1.08 | $ 0.96 | $ 0.88 |
Restructuring Charges | $ 0 | $ 0 | $ 215 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 2,290 | $ 2,137 | $ 1,392 |
Other comprehensive income (loss), net of tax: | |||
Foreign currency translation adjustments | (228) | (75) | 119 |
Unrealized gains and losses on cash flow hedges | (108) | 2 | 29 |
Other comprehensive income (loss) | (336) | (73) | 148 |
Comprehensive income | $ 1,954 | $ 2,064 | $ 1,540 |
Consolidated Statements Of Stoc
Consolidated Statements Of Stockholders' Equity - USD ($) shares in Millions, $ in Millions | Total | Cumulative Effect, Period of Adoption, Adjustment [Member] | [1] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Retained Earnings [Member] Cumulative Effect, Period of Adoption, Adjustment [Member] | [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 | 1,392 | 1,392 | |||||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 148 | 148 | |||||||
Other comprehensive income (loss) | 148 | ||||||||
Common stock issued, stock-based compensation plans | 142 | 142 | |||||||
Common stock issued, stock based compensation plans and other, shares | 6 | ||||||||
Stock-based compensation expense | 232 | 232 | |||||||
Repurchases of common stock | $ (1,621) | $ 0 | (375) | (1,246) | |||||
Repurchases of common stock, shares | (24) | ||||||||
Dividends declared per common share (in usd per share) | $ 0.88 | ||||||||
Dividends declared | $ (480) | (480) | |||||||
AOCI, ending balance at Dec. 31, 2020 | 10,836 | $ 5 | 32 | 10,689 | 110 | ||||
Ending balance, shares at Dec. 31, 2020 | 530 | ||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net income | 2,137 | 2,137 | |||||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (73) | (73) | |||||||
Other comprehensive income (loss) | (73) | ||||||||
Common stock issued, stock-based compensation plans | 130 | 130 | |||||||
Common stock issued, stock based compensation plans and other, shares | 5 | ||||||||
Stock-based compensation expense | 246 | 246 | |||||||
Repurchases of common stock | $ (775) | $ 0 | (381) | (394) | |||||
Repurchases of common stock, shares | (10) | ||||||||
Dividends declared per common share (in usd per share) | $ 0.96 | ||||||||
Dividends declared | $ (510) | (510) | |||||||
AOCI, ending balance at Dec. 31, 2021 | $ 11,991 | $ 5 | 27 | 11,922 | 37 | ||||
Ending balance, shares at Dec. 31, 2021 | 525 | 525 | |||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net income | $ 2,290 | 2,290 | |||||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (336) | (336) | |||||||
Other comprehensive income (loss) | (336) | ||||||||
Common stock issued, stock-based compensation plans | 86 | 86 | |||||||
Common stock issued, stock based compensation plans and other, shares | 4 | ||||||||
Stock-based compensation expense | 261 | 261 | |||||||
Repurchases of common stock | $ (1,418) | $ 0 | (359) | (1,059) | |||||
Repurchases of common stock, shares | (20) | ||||||||
Dividends declared per common share (in usd per share) | $ 1.08 | ||||||||
Dividends declared | $ (565) | (565) | |||||||
AOCI, ending balance at Dec. 31, 2022 | $ 12,309 | $ 5 | $ 15 | $ 12,588 | $ (299) | ||||
Ending balance, shares at Dec. 31, 2022 | 509 | 509 | |||||||
[1]Reflects the adoption of the Credit Loss Standard on January 1, 2020. |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities: | |||
Net income | $ 2,290 | $ 2,137 | $ 1,392 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 569 | 574 | 559 |
Deferred income taxes | (273) | 27 | 184 |
Share-based Payment Arrangement, Noncash Expense | 261 | 246 | 232 |
Other | 45 | (1) | 119 |
Changes in assets and liabilities: | |||
Trade accounts receivable | (238) | (407) | 264 |
Other current and noncurrent assets | 343 | 348 | 73 |
Accounts payable | (11) | (35) | 109 |
Deferred revenue, current and noncurrent | (26) | 19 | 65 |
Other current and noncurrent liabilities | (392) | (413) | 302 |
Net cash provided by operating activities | 2,568 | 2,495 | 3,299 |
Cash flows from investing activities: | |||
Purchases of property and equipment | (332) | (279) | (398) |
Purchases of available-for-sale investment securities | (1,227) | (430) | 0 |
Proceeds from maturity of available-for-sale investment securities | 1,315 | 120 | 0 |
Purchases of held-to-maturity investment securities | (44) | (203) | (202) |
Proceeds from maturity of held-to-maturity investment securities | 54 | 180 | 467 |
Purchases of other investments | (546) | (1,660) | (531) |
Proceeds from maturity or sale of other investments | 1,013 | 1,078 | 549 |
Proceeds from sales of businesses | 28 | 0 | 0 |
Payments for business combinations, net of cash acquired | (367) | (970) | (1,123) |
Net cash (used in) investing activities | (106) | (2,164) | (1,238) |
Cash flows from financing activities: | |||
Issuance of common stock under stock-based compensation plans | 86 | 130 | 142 |
Repurchases of common stock | (1,422) | (771) | (1,621) |
Repayment of Term Loan borrowings and finance lease and earnout obligations | (686) | (53) | (50) |
Proceeds from debt refinancing | 650 | 0 | 0 |
Debt issuance costs | (3) | 0 | 0 |
Proceeds from borrowing under the revolving credit facility | 0 | 0 | 1,740 |
Repayment of notes outstanding under the revolving credit facility | 0 | 0 | 1,740 |
Dividends paid | (564) | (509) | (480) |
Net cash (used in) financing activities | (1,939) | (1,203) | (2,009) |
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations | (21) | (16) | (17) |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total | 502 | (888) | 35 |
Cash and cash equivalents, beginning of year | 1,792 | 2,680 | 2,645 |
Cash, cash equivalents and restricted cash, end of year | 2,294 | 1,792 | 2,680 |
Supplemental information: | |||
Cash paid for income taxes during the year | 813 | 625 | 745 |
Cash interest paid during the year | $ 15 | $ 7 | $ 25 |
Consolidated Statements Of St_2
Consolidated Statements Of Stockholders' Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement of Stockholders' Equity [Abstract] | |||
Dividends declared per common share (in usd per share) | $ 1.08 | $ 0.96 | $ 0.88 |
Business Description and Summar
Business Description and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Business Description and Summary of Significant Accounting Policies | The terms “Cognizant,” “we,” “our,” “us” and “the Company” refer to Cognizant Technology Solutions Corporation and its subsidiaries unless the context indicates otherwise. Description of Business. We are one of the world’s leading professional services companies, engineering modern businesses and delivering strategic outcomes for our clients. We help clients modernize technology, reimagine processes and transform experiences so they can stay ahead in a fast-changing world. We tailor our services and solutions to specific industries with an integrated global delivery model that employs client service and delivery teams based at client locations and dedicated global and regional delivery centers. Our services include digital services and solutions, consulting, application development, systems integration, quality engineering and assurance, application maintenance, infrastructure and security as well as business process services and automation. Digital services continue to be an important part of our portfolio, aligning with our clients' focus on becoming data-enabled, customer-centric and differentiated businesses. Basis of Presentation, Principles of Consolidation and Use of Estimates. The consolidated financial statements are presented in accordance with GAAP and reflect the consolidated financial position, results of operations, comprehensive income and cash flows of our consolidated subsidiaries for all periods presented. All intercompany balances and transactions have been eliminated in consolidation. The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying disclosures. We evaluate our estimates on a continuous basis. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. The actual amounts may vary from the estimates used in the preparation of the accompanying consolidated financial statements. Cash and Cash Equivalents and Investments. Cash and cash equivalents consist of all cash balances, including money market funds, certificates of deposits and commercial paper that have a maturity, at the date of purchase, of 90 days or less. We determine the appropriate classification of our investments in marketable securities at the date of purchase and reevaluate such designation at each balance sheet date. We classify and account for our marketable debt securities as either available-for-sale or held-to-maturity. After consideration of our risk versus reward objectives, as well as our liquidity requirements, we may sell our available-for-sale securities prior to their stated maturities. We classify these marketable securities with maturities at the date of purchase beyond 90 days as short-term investments based on their highly liquid nature and because such marketable securities represent an investment of cash that is available for current operations. Available-for-sale securities are reported at fair value with changes in unrealized gains and losses recorded as a separate component of "Accumulated other comprehensive income (loss)" on the consolidated statements of financial position until realized. We determine the cost of the securities sold based on the specific identification method. Our held-to-maturity investment securities are financial instruments that we have the intent and ability to hold to maturity and we classify these securities with maturities less than one year as short-term investments. Any held-to-maturity investment securities with maturities beyond one year from the balance sheet date are classified as long-term investments. Held-to-maturity securities are reported at amortized cost. Interest and amortization of premiums and discounts for debt securities are included in interest income. For available-for-sale debt securities, if we do not intend to sell the security or it is not more likely than not that we will be required to sell the security before recovery of our amortized cost, we evaluate qualitative criteria, such as the financial health of and specific prospects for the issuer, to determine whether we do not expect to recover the amortized cost basis of the security. We also evaluate quantitative criteria including determining whether there has been an adverse change in expected future cash flows. If we do not expect to recover the entire amortized cost basis of the security, we consider the security to contain an expected credit loss, and we record the difference between the security’s amortized cost basis and its recoverable amount in earnings as an allowance for credit loss and the difference between the security’s recoverable amount and fair value in other comprehensive income. If we intend to sell the security or it is more likely than not we will be required to sell the security before recovery of its amortized cost basis, the security is considered impaired, and we recognize the entire difference between the security’s amortized cost basis and its fair value in earnings. On initial recognition and on an ongoing basis, we evaluate our held-to-maturity investment securities for expected credit losses collectively when they share similar risk characteristics or individually, when the risk characteristics are different. The allowance for expected credit losses is determined using our historical loss experience. We monitor the credit ratings of the securities in our portfolio to evaluate the need for any changes to the allowance. An increase or a decrease in the allowance for expected credit losses is recorded through income as a credit loss expense or a reversal thereof. The allowance for expected credit losses is presented as a deduction from the amortized cost. A held-to-maturity investment security is written off when deemed uncollectible. Financial Assets and Liabilities. Cash and certain cash equivalents, time deposits, trade receivables, accounts payable and other accrued liabilities are short-term in nature and, accordingly, their carrying values approximate fair value. Property and Equipment. Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets. Leasehold improvements are amortized on a straight-line basis over the shorter of the term of the lease or the estimated useful life of the asset. Deposits paid towards acquisition of long-lived assets and the cost of assets not put in use by the balance sheet date are disclosed under the caption "Capital work-in-progress" in Note 6 . Leases. Our lease asset classes primarily consist of operating leases for office space, data centers and IT equipment. At inception of a contract, we determine whether a contract contains a lease, and if a lease is identified, whether it is an operating or finance lease. In determining whether a contract contains a lease we consider whether (1) we have the right to obtain substantially all of the economic benefits from the use of the asset throughout the term of the contract, (2) we have the right to direct how and for what purpose the asset is used throughout the term of the contract and (3) we have the right to operate the asset throughout the term of the contract without the lessor having the right to change the terms of the contract. Some of our lease agreements contain both lease and non-lease components that we account for as a single lease component for all of our lease asset classes. Our ROU lease assets represent our right to use an underlying asset for the lease term and may include any advance lease payments made and any initial direct costs and exclude lease incentives. Our lease liabilities represent our obligation to make lease payments arising from the terms of the lease. ROU lease assets and lease liabilities are recognized at the commencement of the lease and are calculated using the present value of lease payments over the lease term. Typically, our lease agreements do not provide sufficient detail to determine the rate implicit in the lease. Therefore, we use our estimated country-specific incremental borrowing rate based on information available at the commencement date of the lease to calculate the present value of the lease payments. In estimating our country-specific incremental borrowing rates, we consider market rates of comparable collateralized borrowings for similar terms. Our lease terms may include the option to extend or terminate the lease before the end of the contractual lease term. Our ROU lease assets and lease liabilities include these options when it is reasonably certain that they will be exercised. A portion of our real estate lease costs is subject to annual changes in the CPI. Changes in CPI subsequent to the lease commencement are treated as variable lease payments and are recognized in the period in which the obligation for those payments is incurred. Other variable lease costs primarily relate to adjustments for common area maintenance, utilities, property tax and lease concessions. These variable costs are recognized in the period in which the obligation is incurred. We elect not to recognize ROU assets and lease liabilities for short-term leases with a term equal to or less than 12 months. We recognize the lease payments in our income statement on a straight-line basis over the lease term and variable lease payments in the period in which the obligation for those payments is incurred. Both ROU assets and finance lease assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the related asset group may not be recoverable. Internal Use Software. We capitalize certain costs that are incurred to purchase, develop and implement internal-use software during the application development phase, which primarily include coding, testing and certain data conversion activities. Capitalized costs are amortized on a straight-line basis over the useful life of the software. Costs incurred in performing planning and post-implementation activities are expensed as incurred. Cloud Computing Arrangements. We defer certain implementation costs that are incurred when implementing cloud computing service or software-as-a-service arrangements, which primarily include efforts associated with configuration and development activities. Once the service is ready for use, deferred costs are expensed over the term of the arrangement and recognized in income from operations. Software to be Sold, Leased or Marketed. We capitalize costs incurred after technological feasibility is reached but before software is available for general release to clients, which primarily include coding and testing activities. Once the product is ready for general release, capitalized costs are amortized over the useful life of the software. Business Combinations. We account for business combinations using the acquisition method, which requires the identification of the acquirer, the determination of the acquisition date and the allocation of the purchase price paid by the acquirer to the identifiable tangible and intangible assets acquired, the liabilities assumed, including any contingent consideration and any noncontrolling interest in the acquiree at their acquisition date fair values. Goodwill represents the excess of the purchase price over the fair value of net assets acquired, including the amount assigned to identifiable intangible assets. Identifiable intangible assets with finite lives are amortized over their expected useful lives. Acquisition-related costs are expensed in the periods in which the costs are incurred. The results of operations of acquired businesses are included in our consolidated financial statements from the acquisition date . Equity Method Investments. Equity investments that give us the ability to exercise significant influence, but not control, over an investee are accounted for using the equity method of accounting and recorded in the caption "Long-term investments" on our consolidated statements of financial position. Equity method investments are initially recorded at cost. We periodically review the carrying value of our equity method investments to determine if there has been an other-than-temporary decline in the carrying value. The investment balance is increased to reflect contributions and our share of earnings and decreased to reflect our share of losses, distributions and other-than-temporary impairments. Our proportionate share of the net income or loss of the investee is recorded in the caption "Income (loss) from equity method investments" on our consolidated statements of operations. Long-lived Assets and Finite-lived Intangible Assets. We review long-lived assets and certain finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. The carrying amount may not be recoverable when the sum of undiscounted expected future cash flows is less than the carrying amount of such asset groups. The impairment loss is determined as the amount by which the carrying amount of the asset group exceeds its fair value. Intangible assets consist primarily of customer relationships and developed technology, which are being amortized on a straight-line basis over their estimated useful lives. Goodwill and Indefinite-lived Intangible Assets. At each acquisition date, we allocate goodwill and intangible assets to our reporting units based on how we expect each reporting unit to benefit from the respective business combination. Our seven industry-based operating segments are our reporting units. We evaluate goodwill and indefinite-lived intangible assets for impairment at least annually, or as circumstances warrant. Goodwill is evaluated at the reporting unit level by comparing the fair value of the reporting unit with its carrying amount including goodwill. An impairment of goodwill exists if the carrying amount of the reporting unit exceeds its fair value. The impairment loss is the amount by which the carrying amount exceeds the reporting unit’s fair value, limited to the total amount of goodwill allocated to that reporting unit. For indefinite-lived intangible assets, if our qualitative assessment indicates that it is more-likely-than-not that an indefinite-lived intangible asset is impaired, we test the assets for impairment by comparing the fair value of such assets to their carrying value. If an impairment is indicated, a write down to the fair value of indefinite-lived intangible asset is recorded. Stock Repurchase Program. Under the Board of Directors authorized stock repurchase program, the Company is authorized to repurchase its Class A common stock through open market purchases, including under a 10b5-1 Plan, or in private transactions, including thr ough ASR agreements en tered into with financial institutions, in accordance with applica ble federal securities laws. We account for the repurchased shares as constructively retired. Shares are returned to the status of authorized and unissued shares at the time of repurchase or in the periods they are delivered if repurchased under an ASR. To reflect share repurchases in the consolidated statements of financial position, we (1) reduce common stock for the par value of the shares, (2) reduce additional paid-in capital for the amount in excess of par during the period in which the shares are repurchased and (3) record any residual amount in excess of available additional paid-in capital to retained earnings. Upfront payments related to ASRs are accounted for as a reduction to stockholders’ equity in the consolidated statements of financial position in the period the payments are made. Revenue Recognition. We recognize revenues as we transfer control of deliverables (products, solutions and services) to our clients in an amount reflecting the consideration to which we expect to be entitled. To recognize revenues, we apply the following five step approach: (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenues when a performance obligation is satisfied. We account for a contract when it has approval and commitment from all parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectibility of consideration is probable. We apply judgment in determining the customer’s ability and intention to pay based on a variety of factors including the customer’s historical payment experience. For performance obligations where control is transferred over time, revenues are recognized based on the extent of progress towards completion of the performance obligation. The selection of the method to measure progress towards completion requires judgment and is based on the nature of the deliverables to be provided. Revenues related to fixed-price contracts for application development and systems integration services, consulting or other technology services are recognized as the service is performed using the cost-to-cost method, under which the total value of revenues is recognized on the basis of the percentage that each contract’s total labor cost to date bears to the total expected labor costs. Revenues related to fixed-price application maintenance, quality engineering and assurance as well as business process services are recognized based on our right to invoice for services performed for contracts in which the invoicing is representative of the value being delivered. If our invoicing is not consistent with the value delivered, revenues are recognized as the service is performed based on the cost-to-cost method described above. The cost-to-cost method requires estimation of future costs, which is updated as the project progresses to reflect the latest available information. Such estimates and changes in estimates involve the use of judgment. The cumulative impact of any revision in estimates is reflected in the financial reporting period in which the change in estimate becomes known and any anticipated losses on contracts are recognized immediately, where appropriate. Revenues related to fixed-price hosting and infrastructure and security services are recognized based on our right to invoice for services performed for contracts in which the invoicing is representative of the value being delivered. If our invoicing is not consistent with the value delivered, revenues are recognized on a straight-line basis unless revenues are earned and obligations are fulfilled in a different pattern. The revenue recognition method applied to the types of contracts described above provides the most faithful depiction of performance towards satisfaction of our performance obligations; for example, the cost-to-cost method is used when the value of services provided to the customer is best represented by the costs expended to deliver those services. Revenues related to our time-and-materials, transaction-based or volume-based contracts are recognized over the period the services are provided either using an output method such as labor hours, or a method that is otherwise consistent with the way in which value is delivered to the customer. Revenues related to our non-hosted software license arrangements that do not require significant modification or customization of the underlying software are recognized when the software is delivered as control is transferred at a point in time. For software license arrangements that require significant functionality enhancements or modification of the software, revenues for the software license and related services are recognized as the services are performed in accordance with the methods applicable to application development and systems integration services described above. In software hosting arrangements, the rights provided to the customer, such as ownership of a license, contract termination provisions and the feasibility of the client to operate the software, are considered in determining whether the arrangement includes a license or a service. Sales and usage-based fees promised in exchange for licenses of intellectual property are not recognized as revenue until the uncertainty related to the variable amounts is resolved. Revenues related to software maintenance and support are generally recognized on a straight-line basis over the contract period. Incentive revenues, volume discounts, or any other form of variable consideration is estimated using either the sum of probability weighted amounts in a range of possible consideration amounts (expected value) or the single most likely amount in a range of possible consideration amounts (most likely amount), depending on which method better predicts the amount of consideration to which we may be entitled. We include in the transaction price variable consideration only to the extent it is probable that a significant reversal of revenues recognized will not occur when the uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and determination of whether and when to include estimated amounts in the transaction price may involve judgment and are based largely on an assessment of our anticipated performance and all information that is reasonably available to us. Revenues also include the reimbursement of out-of-pocket expenses. Our warranties generally provide a customer with assurance that the related deliverable will function as the parties intended because it complies with agreed-upon specifications and are therefore not considered an additional performance obligation in the contract. We may enter into arrangements that consist of multiple performance obligations. Such arrangements may include any combination of our deliverables. To the extent a contract includes multiple promised deliverables, we apply judgment to determine whether promised deliverables are capable of being distinct and are distinct in the context of the contract. If these criteria are not met, the promised deliverables are accounted for as a combined performance obligation. For arrangements with multiple distinct performance obligations, we allocate consideration among the performance obligations based on their relative standalone selling price. Standalone selling price is the price at which we would sell a promised good or service separately to the customer. When not directly observable, we typically estimate standalone selling price by using the expected cost plus a margin approach. We typically establish a standalone selling price range for our deliverables, which is reassessed on a periodic basis or when facts and circumstances change. We assess the timing of the transfer of goods or services to the customer as compared to the timing of payments to determine whether a significant financing component exists. As a practical expedient, we do not assess the existence of a significant financing component when the difference between payment and transfer of deliverables is a year or less. If the difference in timing arises for reasons other than the provision of finance to either the customer or us, no financing component is deemed to exist. The primary purpose of our invoicing terms is to provide customers with simplified and predictable ways of purchasing our services, not to receive or provide financing from or to customers. We do not consider set up or transition fees paid upfront by our customers to represent a financing component, as such fees are required to encourage customer commitment to the project and protect us from early termination of the contract. Our contracts may be modified to add, remove or change existing performance obligations. The accounting for modifications to our contracts involves assessing whether the services added to an existing contract are distinct and whether the pricing is at the standalone selling price. Services added that are not distinct are accounted for on a cumulative catch up basis, while those that are distinct are accounted for prospectively, either as a separate contract if the additional services are priced at the standalone selling price, or as a termination of the existing contract and creation of a new contract if not priced at the standalone selling price. Services added to our application development and systems integration service contracts are typically not distinct, while services added to our other contracts, including application maintenance, quality engineering and assurance as well as business process services contracts, are typically distinct. From time to time, we may enter into arrangements with third party suppliers to resell products or services. In such cases, we evaluate whether we are the principal (i.e., report revenues on a gross basis) or agent (i.e., report revenues on a net basis). In doing so, we evaluate whether we control the good or service before it is transferred to the customer. If we control the good or service before it is transferred to the customer, we are the principal; if not, we are the agent. Determining whether we control the good or service before it is transferred to the customer may require judgment. Trade Accounts Receivable, Contract Assets and Contract Liabilities. We classify our right to consideration in exchange for deliverables as either a receivable or a contract asset. A receivable is a right to consideration that is unconditional (i.e., only the passage of time is required before payment is due). For example, we recognize a receivable for revenues related to our time and materials and transaction or volume-based contracts when earned regardless of whether amounts have been billed. We present such receivables in "Trade accounts receivable, net" in our consolidated statements of financial position at their net estimated realizable value. 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 consolidated statements of financial position and primarily relate to unbilled amounts on fixed-price contracts utilizing the cost-to-cost method of revenue recognition. Our contract liabilities, or deferred revenue, consist of advance payments from clients and billings in excess of revenues recognized. We classify deferred revenue as current or noncurrent based on the timing of when we expect to recognize the revenues. Our contract assets and contract liabilities are reported on a net basis by contract at the end of each reporting period. The difference between the opening and closing balances of our contract assets and contract liabilities primarily results from the timing difference between our performance obligations and the client’s payment. We receive payments from clients based on the terms established in our contracts, which vary from contract to contract. Allowance for Credit Losses . We calculate expected credit losses for our trade accounts receivable and contract assets. Expected credit losses include losses expected based on known credit issues with specific customers as well as a general expected credit loss allowance based on relevant information, including historical loss rates, current conditions, and reasonable economic forecasts that affect collectibility . We update our allowance for credit losses on a quarterly basis with changes in the allowance recognized in income from operations. Costs to Fulfill. Recurring operating costs for contracts with customers are recognized as incurred. Certain eligible, nonrecurring costs (i.e., set-up or transition costs) are capitalized when such costs (1) relate directly to the contract, (2) generate or enhance resources of the Company that will be used in satisfying the performance obligation in the future, and (3) are expected to be recovered. These costs are expensed ratably over the estimated life of the customer relationship, including expected contract renewals. In determining the estimated life of the customer relationship, we evaluate the average contract term on a portfolio basis by nature of the services to be provided, and apply judgment in evaluating the rate of technological and industry change. Capitalized amounts are monitored regularly for impairment. Impairment losses are recorded when projected remaining consideration that has not already been recognized as revenue less costs related to the services being provided are not sufficient to recover the carrying amount of the capitalized costs to fulfill. Costs to fulfill are recorded in "Other noncurrent assets" in our consolidated statements of financial position and the amortization expense of costs to fulfill is included in "Cost of revenues" in our consolidated statements of operations. Stock-Based Compensation. Stock-based compensation expense for awards of equity instruments to employees and non-employee directors is determined based on the grant date fair value of those awards. We recognize these compensation costs net of an estimated forfeiture rate over the requisite service period of the award. Forfeitures are estimated on the date of grant and revised if actual or expected forfeiture activity differs materially from original estimates. Stock-based compensation expense relating to RSUs is recognized on a straight-line basis as shares vest over the requisite service period. Stock-based compensation costs for PSUs are recognized on a graded-vesting basis over the vesting period based on the most probable outcome of the performance conditions. If the minimum performance targets are not met, no compensation cost is recognized and any recognized compensation cost is reversed, except for awards subject to a market condition. The fair value of RSUs and PSUs is determined based on the number of stock units granted and the quoted price of our stock at the date of grant. The fair value of PSUs granted subject to a market condition is determined using a Monte Carlo valuation model. Foreign Currency. The assets and liabilities of our foreign subsidiaries whose functional currency is not the U.S. dollar are translated into U.S. dollars at current exchange rates while revenues and expenses are translated at average monthly exchange rates. The resulting translation adjustments are recorded in the caption "Accumulated other comprehensive income (loss)" on the consolidated statements of financial position. Foreign currency transactions and balances are those that are denominated in a currency other than the entity’s functional currency. An entity's functional currency is the currency of the primary economic environment in which it operates. The U.S. dollar is the functional currency for some of our foreign subsidiaries. For these subsidiaries, transactions and balances denominated in the local currency are foreign currency transactions. Foreign currency transactions and balances related to non-monetary assets and liabilities are remeasured to the functional currency of the entity at historical exchange rates while monetary assets and liabilities are remeasured to the functional currency of the entity at current exchange rates. Foreign currency exchange gains or losses from remeasurement are included in the caption "Foreign currency exchange gain (losses), net" on our consolidated statements of operations together with gains or losses on our undesignated foreign currency hedges. Derivative Financial Instruments. Derivative financial instruments are recorded on our consolidated statements of financial position as either an asset or liability measured at its fair value as of the reporting date. Our derivative financial instruments consist primarily of foreign exchange forward and option contracts. For derivative financial instruments to qualify for hedge accounting, the following criteria must be met: (1) the hedging instrument must be designated as a hedge; (2) the hedged exposure must be specifically identifiable and must expose us to risk; and (3) it must be expected that a change in fair value of the hedging instrument and an opposite change in the fair value of the hedged exposure will have a high degree of correlation. Changes in our derivatives’ fair values are recognized in net income unless specific hedge accounting and documentation criteria are met (i.e., the instruments are designated and accounted for as hedges). We record the effective portion of the unrealized gains and losses on our derivative financial instru |
Revenues (Notes)
Revenues (Notes) | 12 Months Ended |
Dec. 31, 2022 | |
Revenues [Abstract] | |
Revenue from Contract with Customer [Text Block] | 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 reportable 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. Our consulting and technology services include consulting, application development, systems integration, quality engineering and assurance services as well as software solutions and related services while our outsourcing services include application maintenance, infrastructure and security as well as business process services. 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 clients in the United States. Year Ended December 31, 2022 (in millions) FS HS P&R CMT Total Revenues Geography: North America $ 4,312 $ 4,853 $ 3,078 $ 2,192 $ 14,435 United Kingdom 599 171 521 519 1,810 Continental Europe 590 483 585 137 1,795 Europe - Total 1,189 654 1,106 656 3,605 Rest of World 571 124 382 311 1,388 Total $ 6,072 $ 5,631 $ 4,566 $ 3,159 $ 19,428 Service line: Consulting and technology services $ 4,207 $ 3,226 $ 3,017 $ 1,775 $ 12,225 Outsourcing services 1,865 2,405 1,549 1,384 7,203 Total $ 6,072 $ 5,631 $ 4,566 $ 3,159 $ 19,428 Type of contract: Time and materials $ 3,516 $ 2,010 $ 1,856 $ 1,797 $ 9,179 Fixed-price 2,265 2,471 2,357 1,206 8,299 Transaction or volume-based 291 1,150 353 156 1,950 Total $ 6,072 $ 5,631 $ 4,566 $ 3,159 $ 19,428 Year Ended December 31, 2021 (in millions) FS HS P&R CMT Total Revenues Geography: North America $ 4,204 $ 4,571 $ 2,937 $ 1,924 $ 13,636 United Kingdom 547 168 471 456 1,642 Continental Europe 745 477 539 158 1,919 Europe - Total 1,292 645 1,010 614 3,561 Rest of World 555 121 329 305 1,310 Total $ 6,051 $ 5,337 $ 4,276 $ 2,843 $ 18,507 Service line: Consulting and technology services $ 4,079 $ 3,090 $ 2,725 $ 1,693 $ 11,587 Outsourcing services 1,972 2,247 1,551 1,150 6,920 Total $ 6,051 $ 5,337 $ 4,276 $ 2,843 $ 18,507 Type of contract: Time and materials $ 3,613 $ 2,063 $ 1,785 $ 1,679 $ 9,140 Fixed-price 2,063 2,157 2,085 1,032 7,337 Transaction or volume-based 375 1,117 406 132 2,030 Total $ 6,051 $ 5,337 $ 4,276 $ 2,843 $ 18,507 Year Ended December 31, 2020 (in millions) FS HS P&R CMT Total Revenues Geography: North America $ 4,013 $ 4,181 $ 2,650 $ 1,737 $ 12,581 United Kingdom 463 157 371 344 1,335 Continental Europe 629 434 413 177 1,653 Europe - Total 1,092 591 784 521 2,988 Rest of World 516 80 262 225 1,083 Total $ 5,621 $ 4,852 $ 3,696 $ 2,483 $ 16,652 Service line: Consulting and technology services $ 3,691 $ 2,786 $ 2,249 $ 1,456 $ 10,182 Outsourcing services 1,930 2,066 1,447 1,027 6,470 Total $ 5,621 $ 4,852 $ 3,696 $ 2,483 $ 16,652 Type of contract: Time and materials $ 3,548 $ 1,950 $ 1,548 $ 1,515 $ 8,561 Fixed-price 1,736 1,777 1,741 871 6,125 Transaction or volume-based 337 1,125 407 97 1,966 Total $ 5,621 $ 4,852 $ 3,696 $ 2,483 $ 16,652 In 2020, we made an offer to settle and exit a large customer engagement of our Samlink subsidiary . I n connection with our settlement offer, we recorded a reduction of revenues of $118 million and additional expenses of $33 million, primarily related to the impairment of long-lived assets. The $118 million reduction in revenue impacted our Financial Services segment within Continental Europe, consulting and technology services and fixed-price contracts. In 2021, the settlement agreements became final and we additionally entered into an agreement to sell the Samlink subsidiary. The sale of our Samlink subsidiary closed on February 1, 2022. Costs to Fulfill The following table shows significant movements in the capitalized costs to fulfill: (in millions) 2022 2021 Beginning balance $ 394 $ 467 Costs capitalized 39 56 Amortization expense (109) (118) Impairment charges (1) (59) (11) Ending balance $ 265 $ 394 (1) The impairment charges in 2022 are related to costs to fulfill a large volume-based contract with a Health Sciences client. In 2021, the impairment charges relate to various clients across multiple business segments. Costs to obtain contracts were immaterial for the periods disclosed. Contract Balances A contract asset is a right to consideration that is conditional upon factors other than the passage of time. The table below shows significant movements in contract assets: (in millions) 2022 2021 Beginning balance $ 310 $ 315 Revenues recognized during the period but not billed 308 275 Amounts reclassified to trade accounts receivable (285) (280) Effect of foreign currency exchange movements (7) — Ending balance $ 326 $ 310 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): (in millions) 2022 2021 Beginning balance $ 443 $ 419 Amounts billed but not recognized as revenues 397 413 Revenues recognized related to the beginning balance of deferred revenue (416) (389) Effect of foreign currency exchange movements (7) — Ending balance $ 417 $ 443 Revenues recognized during the year ended December 31, 2022 for performance obligations satisfied or partially satisfied in previous periods were immaterial. Remaining Performance Obligations As of December 31, 2022, the aggregate amount of transaction price allocated to remaining performance obligations, was $3,361 million, of which approximately 55% is expected to be recognized as revenues within 2 years and 75% is expected to be recognized as revenues within 5 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 Losses The following table presents the activity in the allowance for credit losses for the trade accounts receivable: (in millions) 2022 2021 2020 Beginning balance $ 50 $ 57 $ 67 Impact of adoption of the Credit Loss Standard — — (1) Credit loss expense 9 6 8 Write-offs charged against the allowance (16) (13) (17) Ending balance $ 43 $ 50 $ 57 |
Business Combinations
Business Combinations | 12 Months Ended |
Dec. 31, 2022 | |
Business Combinations [Abstract] | |
Business Combinations | Acquisitions completed during each of the three years ended December 31, 2022, 2021 and 2020 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. The primary items that generated goodwill are the value of the acquired assembled workforces and synergies between the acquired companies and us, neither of which qualify as an identifiable intangible asset. 2022 In 2022, we acquired 100% owners hip in each of the following: • AustinCSI, a digital transformation consultancy specializing in enterprise cloud and data analytics advisory services, acquired to complement our technology and industry expertise (acquired December 15, 2022); and • Utegration, a full service consulting and solutions provider specializing in SAP technology and SAP-certified products for the energy and utilities sectors, acquired to expand and strengthen our industry expertise in our SAP practice (acquired December 19, 2022). The allocations of preliminary purchase price to the fair value of the assets acquired and li abilities assumed were as follows: (dollars in millions) AustinCSI Utegration Total Weighted Average Useful Life Cash $ — $ 5 $ 5 Trade accounts receivable 9 21 30 Property and equipment and other assets 4 15 19 Non-deductible goodwill — 23 23 Tax-deductible goodwill 83 87 170 Customer relationship assets 69 83 152 11.1 years Other intangible assets — 1 1 3.1 years Current liabilities (3) (17) (20) Noncurrent liabilities (1) (4) (5) Purchase price $ 161 $ 214 $ 375 For the year ended December 31, 2022, revenues from acquisitions completed in 2022, since the dates of acquisition, were immaterial. For acquisitions completed in 2022, the allocation of purchase price is preliminary and will be finalized as soon as practicable within the measurement period, but in no event later than one year following the date of acquisition. 2021 In 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); • 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); • TQS, a global industrial data and intelligence company, acquired to accelerate our growth in IoT, data and analytics (acquired July 30, 2021); • Hunter, a provider of digital engineering and project management services, acquired to extend our talent network in key markets, expanding our digital engineering resources in the United States (acquired August 16, 2021); and • Devbridge, a software consultancy and product development company, acquired to expand our software product engineering capabilities and global delivery footprint (acquired December 9, 2021). The allocations of purchase price to the fair value of the assets acquired and li abilities assumed were as follows: (dollars in millions) Devbridge Servian Magenic ESG Mobility Linium Other Total Weighted Average Useful Life Cash $ 7 $ 4 $ 13 $ 28 $ — $ 2 $ 54 Trade accounts receivable 12 15 17 30 5 12 91 Property and equipment and other assets 5 6 4 8 1 4 28 Operating lease assets, net 11 5 10 27 — 1 54 Non-deductible goodwill 41 184 10 26 — 18 279 Tax-deductible goodwill 140 — 137 24 57 10 368 Customer relationship assets 72 77 90 77 24 32 372 9.8 years Other intangible assets — 2 1 — — — 3 3.8 years Current liabilities (11) (12) (29) (22) (2) (7) (83) Noncurrent liabilities (9) (29) (7) (66) — (6) (117) Purchase price, inclusive of contingent consideration $ 268 $ 252 $ 246 $ 132 $ 85 $ 66 $ 1,049 |
Restructuring Charges
Restructuring Charges | 12 Months Ended |
Dec. 31, 2022 | |
Restructuring Charges [Abstract] | |
Realignment 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, targeted improved 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 consolidated statements of operations. We do not allocate these charges to individual segments in internal management rep orts used by the chief operating decision maker. Accordingly, such expenses are included in our segment reporting as “unallocated costs.” See Note 18 . |
Investments
Investments | 12 Months Ended |
Dec. 31, 2022 | |
Investments [Abstract] | |
Investments | Our investments were as follows as of December 31: (in millions) 2022 2021 Short-term investments: Equity investment security $ 10 $ 26 Available-for-sale investment securities 225 310 Held-to-maturity investment securities 24 37 Time deposits 51 554 Total short-term investments $ 310 $ 927 Long-term investments: Other investments $ 70 $ 66 Restricted time deposits (1) 357 397 Total long-term investments $ 427 $ 463 (1) See Note 11 . Equity Investment Security Our equity investment security is a U.S. dollar denominated investment in a fixed income mutual fund. During 2022, we sold $15 million of our investment in the fund. Realized and unrealized gains and losses were immaterial for the years ended December 31, 2022, 2021 and 2020. Available-for-Sale Investment Securities Our available-for-sale investment securities consist of highly rated U.S. dollar denominated investments in certificates of deposit and commercial paper maturing within one year. As of December 31, 2022, the amortized cost and fair value of the available-for-sale investments were each $225 million. As of December 31, 2021, the amortized cost and fair value of the available-for-sale investments were each $310 million. Unrealized losses were immaterial as of December 31, 2022 and 2021. There were no realized gains or losses related to the available-for-sale investment securities during the years ended December 31, 2022, 2021 and 2020. There were no sales of available-for-sale investment securities during the years ended December 31, 2022, 2021 and 2020. Held-to-Maturity Investment Securities Our held-to-maturity investment securities consist of Indian rupee denominated investments primarily 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 corporate debt securities as of December 31, 2022 and 2021 were each $12 million and $17 million, respectively. The amortized cost and fair value of commercial paper securities as of December 31, 2022 and 2021 were each $12 million and $20 million, respectively. As of December 31, 2022, corporate debt securities in the amount of $12 million and commercial paper in the amount of $12 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, 2021, $17 million of corporate debt securities and $10 million of commercial paper 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. The securities in our portfolio are highly rated and short-term in nature. As of December 31, 2022, our corporate 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, or ICRA, the Indian affiliate of Moody's. Other Investments |
Property and Equipment, net
Property and Equipment, net | 12 Months Ended |
Dec. 31, 2022 | |
Property, Plant and Equipment, Net [Abstract] | |
Property and Equipment, net | Property and equipment were as follows as of December 31: Estimated Useful Life 2022 2021 (in years) (in millions) Buildings 30 $ 771 $ 777 Computer equipment 3 – 5 729 638 Computer software 3 – 8 1,033 926 Furniture and equipment 5 – 9 768 772 Land 7 7 Capital work-in-progress 111 116 Leasehold improvements Shorter of the lease term or 398 431 Sub-total 3,817 3,667 Accumulated depreciation and amortization (2,716) (2,496) Property and equipment, net $ 1,101 $ 1,171 Depreciation and amortization expense related to property and equipment was $385 million, $392 million and $407 million for the years ended December 31, 2022, 2021 and 2020, respectively. The gross amount of property and equipment recorded under finance leases was $17 million and $24 million as of December 31, 2022 and 2021, respectively. Accumulated amortization for our ROU finance lease assets was $9 million and $17 million as of December 31, 2022 and 2021, respectively. Amortization expense related to our ROU finance lease assets was $4 million, $7 million and $7 million for the years ended December 31, 2022, 2021 and 2020 respectively. The gross amount of property and equipment recorded for software to be sold, leased or marketed reported in the caption "Computer software" above was $241 million and $201 million as of December 31, 2022 and 2021, respectively. Accumulated amortization for software to be sold, leased or marketed was $143 million and $106 million as of December 31, 2022 and 2021, respectively. Amortization expense for software to be sold, leased or marketed recorded as property and equipment was $37 million , $33 million and $30 million for the years ended December 31, 2022, 2021 and 2020, respectively. |
Leases (Notes)
Leases (Notes) | 12 Months Ended |
Dec. 31, 2022 | |
Leases [Abstract] | |
Lessee, Operating Leases [Text Block] | The following table provides information on the components of our operating and finance leases included in our consolidated statement of financial position as of December 31: Leases Location on Statement of Financial Position 2022 2021 Assets (in millions) ROU operating lease assets Operating lease assets, net $ 876 $ 933 ROU finance lease assets Property and equipment, net 8 7 Total $ 884 $ 940 Liabilities Current Operating lease Operating lease liabilities $ 174 $ 195 Finance lease Accrued expenses and other current liabilities 5 8 Noncurrent Operating lease Operating lease liabilities, noncurrent 714 783 Finance lease Other noncurrent liabilities 8 5 Total $ 901 $ 991 For the years ended December 31, 2022, 2021 and 2020, our operating lease costs were $256 million, $293 million and $302 million, respectively, including variable lease costs of $17 million, $10 million and $14 million, respectively. Our short-term lease rental expense was $21 million, $22 million and $20 million for the years ended December 31, 2022, 2021 and 2020, respectively. Lease interest expense related to our finance leases for years ended December 31, 2022, 2021 and 2020 was immaterial. The following table provides information on the weighted average remaining lease term and weighted average discount rate for our operating leases as of December 31: Operating Lease Term and Discount Rate 2022 2021 Weighted average remaining lease term 6.2 years 6.5 years Weighted average discount rate 5.4 % 5.4 % The following table provides supplemental cash flow and non-cash information related to our operating leases as of December 31: (in millions) 2022 2021 2020 Cash paid for amounts included in the measurement of operating lease liabilities $ 241 $ 274 $ 271 ROU assets obtained in exchange for operating lease liabilities 164 100 273 Cash paid for amounts included in the measurement of finance lease liabilities and ROU assets obtained in exchange for finance lease liabilities were each immaterial for the years ended December 31, 2022, 2021 and 2020. The following table provides the schedule of maturities of our operating lease liabilities and a reconciliation of the undiscounted cash flows to the operating lease liabilities recognized in the statement of financial position as of December 31: (in millions) 2022 2023 $ 215 2024 180 2025 155 2026 129 2027 108 Thereafter 267 Total operating lease payments 1,054 Interest (166) Total operating lease liabilities $ 888 As of December 31, 2022, additional obligations related to operating leases whose lease term had yet to commence were immaterial. |
Goodwill and Intangible Assets,
Goodwill and Intangible Assets, net | 12 Months Ended |
Dec. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets, net | Changes in goodwill by our reportable business segments were as follows for the years ended December 31, 2022 and 2021: Segment January 1, 2022 Goodwill Additions and Adjustments Foreign Currency Translation Adjustments December 31, 2022 (in millions) Financial Services $ 1,109 $ 5 $ (41) $ 1,073 Health Sciences 2,831 2 (14) 2,819 Products and Resources 967 127 (32) 1,062 Communications, Media and Technology 713 59 (16) 756 Total goodwill $ 5,620 $ 193 $ (103) $ 5,710 Segment January 1, 2021 Goodwill Additions and Adjustments Foreign Currency Translation Adjustments December 31, 2021 (in millions) Financial Services $ 932 $ 198 $ (21) $ 1,109 Health Sciences 2,755 84 (8) 2,831 Products and Resources 780 200 (13) 967 Communications, Media and Technology 564 156 (7) 713 Total goodwill $ 5,031 $ 638 $ (49) $ 5,620 Based on our most recent goodwill impairment assessment performed as of October 31, 2022 , we concluded that the goodwill in each of our reporting units was not at risk of impairment. We have not recognized any impairment losses on our goodwill. Components of intangible assets were as follows as of December 31: 2022 2021 (in millions) Gross Carrying Accumulated Net Carrying Gross Carrying Accumulated Net Carrying Customer relationships $ 1,803 $ (738) $ 1,065 $ 1,679 $ (610) $ 1,069 Developed technology 383 (369) 14 385 (330) 55 Indefinite lived trademarks 72 — 72 72 — 72 Finite lived trademarks and other 81 (64) 17 81 (59) 22 Total intangible assets $ 2,339 $ (1,171) $ 1,168 $ 2,217 $ (999) $ 1,218 Other than certain trademarks with indefinite lives, our intangible assets have finite lives and, as such, are subject to amortization. Amortization of intangible assets totaled $184 million, $182 million and $152 million for the years ended December 31, 2022, 2021 and 2020, respectively. The following table provides the estimated amortization expense related to our existing intangible assets for the next five years. (in millions) Estimated Amortization 2023 $ 155 2024 150 2025 147 2026 144 2027 136 |
Accrued Expenses and Other Curr
Accrued Expenses and Other Current Liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Accrued Expenses And Other Current Liabilities [Abstract] | |
Accrued Expenses and Other Current Liabilities | Accrued expenses and other current liabilities were as follows as of December 31: (in millions) 2022 2021 Compensation and benefits $ 1,446 $ 1,601 Customer volume and other incentives 222 242 Income taxes 217 74 Professional fees 165 220 Other 357 395 Total accrued expenses and other current liabilities $ 2,407 $ 2,532 |
Debt
Debt | 12 Months Ended |
Dec. 31, 2022 | |
Debt Disclosure [Abstract] | |
Debt | In 2018, we entered into a Credit Agreement providing for a $750 million Term Loan and a $1,750 million unsecured revolving credit facility, which were due to mature in November 2023. In October 2022, we completed a debt refinancing and entered into a new credit agreement with a commercial bank syndicate ("New Credit Agreement") providing for a $650 million unsecured term loan ("New Term Loan") and a $1,850 million unsecured revolving credit facility, which are each due to mature in October 2027. The Credit Agreement was terminated upon the closing of the New Credit Agreement and the proceeds from the New Term Loan were used primarily to repay our outstanding Term Loan balance. The New Credit Agreement requires interest to be paid, at our option, at either the Term Benchmark, Adjusted Daily Simple RFR or the ABR Rate (each as defined in the New Credit Agreement), plus, in each case, an Applicable Margin (as defined in the New Credit Agreement). Initially, the Applicable Margin is 0.875% with respect to Term Benchmark loans and RFR loans and 0.00% with respect to ABR loans. Subsequently, the Applicable Margin with respect to Term Benchmark loans and RFR loans will be determined quarterly and 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 New Credit Agreement. T he New Term Loan is a Term Benchmark loan. We are required under the New Credit Agreement to make scheduled quarterly principal payments on the New Term Loan beginning in December 2023. The New Credit Agreement contains customary affirmative and negative covenants as well as a financial covenant. The financial covenant is tested at the end of each fiscal quarter and requires us to maintain a Leverage Ratio not in excess of 3.50:1.00, or for a period of up to four quarters following certain material acquisitions, 3.75:1.00. We were in compliance with all debt covenants and representations of the Credit Agreement as of December 31, 2022. In March 2022, our India subsidiary renewed its one-year 13 billion Indian rupee ($157 million at the December 31, 2022 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 within 30 days of disbursement. This working capital facility contains affirmative and negative covenants and is renewable annually. As of December 31, 2022, we have not borrowed funds under this facility. Short-term Debt As of December 31, 2022 and 2021, we had $8 million and $38 million of short-term debt related to current maturities of our term loan, with a weighted average interest rate of 5.2% and 1.0%, respectively. Long-term Debt The following summarizes our long-term debt balances as of December 31: (in millions) 2022 2021 Term loan $ 650 $ 666 Less: Current maturities (8) (38) Unamortized deferred financing costs (4) (2) Long-term debt, net of current maturities $ 638 $ 626 The following represents the schedule of maturities of our New Term Loan: Year Amounts (in millions) 2023 $ 8 2024 33 2025 33 2026 33 2027 543 Total $ 650 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income before provision for income taxes shown below is based on the geographic location to which such income was attributed for years ended December 31: (in millions) 2022 2021 2020 United States $ 975 $ 818 $ 814 Foreign 2,041 2,009 1,282 Income before provision for income taxes $ 3,016 $ 2,827 $ 2,096 The provision for income taxes consisted of the following components for the years ended December 31: (in millions) 2022 2021 2020 Current: Federal and state $ 492 $ 210 $ 137 Foreign 511 456 383 Total current provision 1,003 666 520 Deferred: Federal and state (240) (50) (77) Foreign (33) 77 261 Total deferred (benefit) provision (273) 27 184 Total provision for income taxes $ 730 $ 693 $ 704 In the third quarter of 2020, we reversed our indefinite reinvestment assertion on Indian earnings accumulated in prior years and recorde d a $140 million Tax on Accumulated Indian Earnings. The recorded income tax expense reflects the India withholding tax on unrepatriated Indian earnings, which were $5.2 billion as of December 31, 2019, net of applicable U.S. foreign tax credits. We are involved in two separate ongoing disputes with the ITD in connection with previously disclosed share repurchase transactions undertaken by CTS India in 2013 and 2016 to repurchase shares from its shareholders (non-Indian Cognizant entities) valued at $523 million and $2.8 billion, respectively. The 2016 transaction was undertaken pursuant to a plan approved by the High Court in Chennai, India, and resulted in the payment of $135 million in Indian income taxes - an amount we believe includes all the applicable taxes owed for this transaction under Indian law. In March 2018, the ITD asserted that it is owed an additional 33 billion Indian rupees ($399 million at the December 31, 2022 exchange rate) on the 2016 transaction. We deposited 5 billion Indian rupees, representing 15% of the disputed tax amount related to the 2016 transaction, with the ITD. As of December 31, 2022 and 2021, the deposit with the ITD was $60 million and $67 million, respectively, presented in "Other noncurrent assets." Additionally, certain time deposits of CTS India were placed under lien in favor of the ITD, representing the remainder of the disputed tax amount. As of December 31, 2022 and 2021, the balance of deposits under lien was 30 billion Indian rupees, including previously earned interest, or $357 million and $397 million, respectively, as presented in "Long-term investments." The dispute in relation to the 2013 share repurchase transaction is also in litigation. At this time, the ITD has not made specific demands with regards to the 2013 transaction. In April 2020, we received a formal assessment from the ITD on the 2016 transaction, which was consistent with the ITD's previous assertions. In June 2020, we filed an appeal against this assessment to the CITA. In March 2022, we received a negative decision from the CITA. The matter is currently pending before the Income Tax Appellate Tribunal. We continue to believe we have paid all applicable taxes owed on both the 2016 and the 2013 transactions and we continue to defend our positions with respect to both matters. Accordingly, we have not recorded any reserves for these matters as of December 31, 2022. The reconciliation between the U.S. federal statutory rate and our effective income tax rate were as follows for the years ended December 31: (Dollars in millions) 2022 % 2021 % 2020 % Tax expense, at U.S. federal statutory rate $ 633 21.0 $ 594 21.0 $ 440 21.0 State and local income taxes, net of federal benefit 63 2.1 50 1.8 52 2.5 Non-taxable income for Indian tax purposes (6) (0.2) (36) (1.3) (48) (2.3) Rate differential on foreign earnings 98 3.2 137 4.8 178 8.5 Recognition of benefits related to uncertain tax positions (43) (1.4) (14) (0.5) — — Credits and other incentives (17) (0.6) (42) (1.5) (51) (2.4) Reversal of indefinite reinvestment assertion — — — — 140 6.6 Other 2 0.1 4 0.2 (7) (0.3) Total provision for income taxes $ 730 24.2 $ 693 24.5 $ 704 33.6 Our Indian subsidiaries are primarily export-oriented and, through March 31, 2022, benefited from certain income tax holiday benefits granted by the government of India for export activities conducted within SEZs. In December 2019, India enacted the India Tax Law, which enables Indian companies to elect to be taxed at a lower income tax rate of 25.17%, as compared to the otherwise applicable income tax rate of 34.94%. Once a company elects into the lower income tax rate, a company may not benefit from any income tax holidays associated with SEZs and certain other tax incentives and carryforwards, and may not reverse its election. We elected into the new tax regime starting with the India fiscal year beginning on April 1, 2022. For the years ended December 31, 2022, 2021 and 2020, the effect of the income tax holidays granted by the Indian government was to reduce the overall income tax provision and increase net income b y $6 million, $36 million and $48 million, respectively, and increase diluted EPS by $0.01 , $0.07 and $0.09, respectively. The significant components of deferred income tax assets and liabilities recorded on the consolidated statements of financial position were as follows as of December 31: (in millions) 2022 2021 Deferred income tax assets: Net operating losses $ 46 $ 52 Revenue recognition 37 116 Compensation and benefits 159 230 Credit carryforwards 16 27 Expenses not currently deductible 498 121 756 546 Less: valuation allowance (41) (46) Deferred income tax assets, net 715 500 Deferred income tax liabilities: Depreciation and amortization 194 202 Deferred costs 48 84 Other 11 28 Deferred income tax liabilities 253 314 Net deferred income tax assets $ 462 $ 186 At December 31, 2022, we had foreign and U.S. net operating loss carryforwards of approximately $103 million and $96 million, respectively. We have recorded valuation allowances on certain net operating loss carryforwards. Provisions enacted in the Tax Reform Act in December 2017 related to the capitalization of research and experimental expenditures became effective on January 1, 2022. These provisions require us to capitalize research and experimental expenditures and amortize them for tax purposes over five or fifteen years, depending on where the research is conducted. Previously these expenses could be deducted in the year incurred. The implementation of these provisions has increased our deferred tax asset and income taxes payable in the United States for the 2022 tax year by approximately $300 million. The capitalized expenses do not significantly impact our effective tax rate. We conduct business globally and file income tax returns in the United States, including federal and state, as well as various foreign jurisdictions. Tax years that remain subject to examination by the IRS are 2017 and onward, and years that remain subject to examination by state authorities vary by state. Years under examination by foreign tax authorities are 2001 and onward. In addition, transactions between our affiliated entities are arranged in accordance with applicable transfer pricing laws, regulations and relevant guidelines. As a result, and due to the interpretive nature of certain aspects of these laws and guidelines, we have pending applications for APAs before the taxing authorities in some of our most significant jurisdictions. We record incremental tax expense, based upon the more-likely-than-not standard, for any uncertain tax positions. In addition, when applicable, we adjust the previously recorded income tax expense to reflect examination results when the position is effectively settled or otherwise resolved. Our ongoing evaluations of the more-likely-than-not outcomes of the examinations and related tax positions require judgment and can result in adjustments that increase or decrease our effective income tax rate, as well as impact our operating results. The specific timing of when the resolution of each tax position will be reached is uncertain. Changes in unrecognized income tax benefits were as follows for the years ended December 31: (in millions) 2022 2021 2020 Balance, beginning of year $ 194 $ 193 $ 152 Additions based on tax positions related to the current year 53 34 28 Additions for tax positions of prior years 65 16 10 Additions for tax positions of acquired subsidiaries — 12 3 Reductions for tax positions due to lapse of statutes of limitations (43) (17) — Settlements — (43) — Foreign currency exchange movement — (1) — Balance, end of year $ 269 $ 194 $ 193 In the third quarter of 2022, we recognized an income tax benefit of $36 million related to a specific uncertain tax position that was previously unrecognized in our prior year consolidated financial statements. The recognition of the benefit in the third quarter of 2022 was based on management’s reassessment regarding whether this unrecognized tax benefit met the more-likely-than-not threshold in light of the lapse in the statute of limitations as to a portion of such benefit. In 2021, we reached an agreement with the IRS, which settled tax years 2012 through 2016. As a result of this settlement, in the first quarter of 2021, we recorded a $14 million discrete benefit to the provision for income taxes. The unrecognized income tax benefits would affect our effective income tax rate, if recognized. While the Company believes uncertain tax positions may be settled or resolved within the next twelve months, it is difficult to estimate the income tax impact of these potential resolutions at this time. We recognize accrued interest and any penalties associated with uncertain tax positions as part of our provision for income taxes. The total amount of accrued interest and penalties at December 31, 2022 and 2021 was $33 million and $30 million, respectively, and relates to U.S. and foreign tax matters. The total amount of interest and penalties recorded in the provision for income taxes in each of 2022, 2021 and 2020 was immaterial. |
Derivative Financial Instrument
Derivative Financial Instruments | 12 Months Ended |
Dec. 31, 2022 | |
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 the 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 the foreign exchange derivative contracts, as applicable, on a gross basis, with no offsets, in our consolidated statements of financial position. There is no financial collateral (including cash collateral) posted or received by us related to the foreign exchange derivative contracts. The following table provides information on the location and fair values of derivative financial instruments included in our consolidated statements of financial position as of December 31: (in millions) 2022 2021 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 $ 1 $ — $ 51 $ — Other noncurrent assets 1 — 15 — Accrued expenses and other current liabilities — 53 — — Other noncurrent liabilities — 17 — — Total 2 70 66 — Foreign exchange forward contracts - Not designated as hedging instruments Other current assets 4 — 3 — Accrued expenses and other current liabilities — 5 — 7 Total 4 5 3 7 Total $ 6 $ 75 $ 69 $ 7 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 2023 and 2024. The changes in fair value of these contracts are initially reported in "Accumulated other comprehensive income (loss)" in our consolidated statements of financial position and are subsequently reclassified to earnings within "Cost of revenues" and "Selling, general and administrative expenses" in our consolidated statements of operations in the same period that the forecasted Indian rupee denominated payments are recorded in earnings. As of December 31, 2022, we estimate that $40 million , net of tax, of the net losses related to derivatives designated as cash flow hedges reported in the caption "Accumulated other comprehensive income (loss)" in our consolidated statements of financial position is expected to be reclassified into earnings within the next 12 months. The notional value of our outstanding contracts by year of maturity was as follows as of December 31: (in millions) 2022 2021 2022 $ — $ 1,643 2023 1,865 880 2024 1,010 — Total notional value of contracts outstanding (1) $ 2,875 $ 2,523 (1) Includes $78 million notional value of option contracts as of December 31, 2021, with the remaining notional value related to forward contracts. There were no option contracts outstanding as of December 31, 2022. The following table provides information on the location and amounts of pre-tax losses and gains on our cash flow hedges for the year ended December 31: (in millions) Change in Location of Net (Losses) and Net (Losses) and Gains Reclassified 2022 2021 2022 2021 Foreign exchange forward and option contracts – Designated as cash flow hedging instruments $ (153) $ 67 Cost of revenues $ (13) $ 55 SG&A expenses (1) 8 Total $ (14) $ 63 The activity related to the change in net unrealized gains and losses on the cash flow hedges included in "Accumulated other comprehensive income (loss)" in our consolidated statements of stockholders' equity is presented in Note 14 . 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 the first quarter of 2023. Realized gains or losses and changes in the estimated fair value of these derivative financial instruments are recorded in the caption "Foreign currency exchange gains (losses), net" in our consolidated statements of operations. Additional information related to our outstanding foreign exchange forward contracts not designated as hedging instruments was as follows as of December 31: (in millions) 2022 2021 Notional Fair Value Notional Fair Value Contracts outstanding $ 1,433 $ (1) $ 847 $ (4) The following table provides information on the location and amounts of realized and unrealized pre-tax gains on our other derivative financial instruments for the year ended December 31: (in millions) Location of Net Gains Amount of Net Gains 2022 2021 Foreign exchange forward contracts - Not designated as hedging instruments Foreign currency exchange gains (losses), net $ 23 $ 13 The related cash flow impacts of all of the derivative activities are reflected as cash flows from operating activities. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2022 | |
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. Fair value is 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 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 the financial assets and (liabilities) measured at fair value on a recurring basis as of December 31, 2022: (in millions) Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 367 $ — $ — $ 367 Time deposits — 359 — 359 Commercial paper — 512 — 512 Short-term investments: Time deposits — 51 — 51 Equity investment security 10 — — 10 Available-for-sale investment securities: Certificates of deposit and commercial paper — 225 — 225 Other current assets Foreign exchange forward contracts — 5 — 5 Long-term investments: Restricted time deposits (1) — 357 — 357 Other noncurrent assets Foreign exchange forward contracts — 1 — 1 Accrued expenses and other current liabilities: Foreign exchange forward contracts — (58) — (58) Contingent consideration liabilities — — (9) (9) Other noncurrent liabilities Foreign exchange forward contracts — (17) — (17) Contingent consideration liabilities — — (13) (13) (1) See Note 11 . The following table summarizes the financial assets and (liabilities) measured at fair value on a recurring basis as of December 31, 2021: (in millions) Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 507 $ — $ — $ 507 Time deposits — 4 — 4 Commercial paper — 266 — 266 Short-term investments: Time deposits — 554 — 554 Equity investment security 26 — — 26 Available-for-sale investment securities: Commercial paper — 310 — 310 Other current assets: Foreign exchange forward and option contracts — 54 — 54 Long-term investments Restricted time deposits (1) — 397 — 397 Other noncurrent assets: Foreign exchange forward contracts — 15 — 15 Accrued expenses and other current liabilities: Foreign exchange forward contracts — (7) — (7) Contingent consideration liabilities — — (14) (14) Other noncurrent liabilities: Contingent consideration liabilities — — (21) (21) (1) See Note 11 The following table summarizes the changes in Level 3 contingent consideration liabilities: (in millions) 2022 2021 Beginning balance $ 35 $ 54 Initial measurement recognized at acquisition 1 24 Change in fair value recognized in SG&A expenses (1) (30) Payments and other adjustments (13) (13) Ending balance $ 22 $ 35 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 investment 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 certificates of deposit and 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 the time deposits approximated fair value as of December 31, 2022 and 2021. 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 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 years ended December 31, 2022, 2021 and 2020 there were no transfers among Level 1, Level 2 or Level 3 financial assets and liabilities. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2022 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income | Changes in "Accumulated other comprehensive income (loss)" by component were as follows for the year ended December 31, 2022: 2022 (in millions) Before Tax Tax Net of Tax Foreign currency translation adjustments: Beginning balance $ (22) $ 2 $ (20) Change in foreign currency translation adjustments (234) 6 (228) Ending balance $ (256) $ 8 $ (248) Unrealized gains (losses) on cash flow hedges: Beginning balance $ 71 $ (14) $ 57 Unrealized losses arising during the period (153) 34 (119) Reclassifications of net losses to: Cost of revenues 13 (3) 10 SG&A expenses 1 — 1 Net change (139) 31 (108) Ending balance $ (68) $ 17 $ (51) Accumulated other comprehensive income (loss): Beginning balance $ 49 $ (12) $ 37 Other comprehensive income (loss) (373) 37 (336) Ending balance $ (324) $ 25 $ (299) Changes in "Accumulated other comprehensive income (loss)" by component were as follows for the years ended December 31, 2021 and 2020: 2021 2020 (in millions) Before Tax Tax Net of Tax Before Tax Tax Net of Tax Foreign currency translation adjustments: Beginning balance $ 56 $ (1) $ 55 $ (63) $ (1) $ (64) Change in foreign currency translation adjustments (78) 3 (75) 119 — 119 Ending balance $ (22) $ 2 $ (20) $ 56 $ (1) $ 55 Unrealized gains on cash flow hedges: Beginning balance $ 67 $ (12) $ 55 $ 31 $ (5) $ 26 Unrealized gains arising during the period 67 (13) 54 39 (8) 31 Reclassifications of net (gains) to: Cost of revenues (55) 10 (45) (3) 1 (2) SG&A expenses (8) 1 (7) — — — Net change 4 (2) 2 36 (7) 29 Ending balance $ 71 $ (14) $ 57 $ 67 $ (12) $ 55 Accumulated other comprehensive income (loss): Beginning balance $ 123 $ (13) $ 110 $ (32) $ (6) $ (38) Other comprehensive income (loss) (74) 1 (73) 155 (7) 148 Ending balance $ 49 $ (12) $ 37 $ 123 $ (13) $ 110 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2022 | |
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 r educed 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 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 SCI’s ruling, in "Selling, general and administrative expenses" in our 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 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 April 26, 2017, 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, May 10, 2017 and March 11, 2019, four additional putative shareholder derivative complaints were filed in the USDC-NJ, naming us and certain of our current and former directors and officers at that time as defendants. These actions were consolidated in an order dated May 14, 2019. On August 3, 2020, lead plaintiffs filed a consolidated amended complaint. The consolidated amended compliant asserts claims similar to those in the previously-filed putative shareholder derivative actions. On February 14, 2022, we and certain of our current and former directors and officers moved to dismiss the consolidated amended complaint. On September 27, 2022, the USDC-NJ granted those motions and dismissed the consolidated amended complaint in its entirety with prejudice. Plaintiffs filed a notice of appeal on October 27, 2022. On June 1, 2021, an eighth putative shareholde r derivative complaint was filed in the USDC-NJ, naming us and certain of our current and former directors and officers at that time a s defendants. The complaint asserts claims similar to those in the previously-filed putative shareholder derivative actions. On March 31, 2022, we and certain of our current and former directors and officers moved to dismiss the complaint. On November 30, 2022, the USDC-NJ denied without prejudice those motions. The USDC-NJ ordered the parties to conduct limited discovery related to the issue of whether our board of directors wrongfully refused the plaintiff’s earlier litigation demand and, after the conclusion of such limited discovery, to file targeted motions for summary judgment on the issue of wrongful refusal. We are presently unable to predict the duration, scope or result of the putative shareholder derivative actions. Although the Company continues to defend the putative shareholder derivative actions vigorously, t hese 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 board of 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. There are no amounts remaining available to us under applicable insurance policies for our ongoing indemnification and advancement obligations with respect to certain of our current and former officers and directors or incremental legal fees and other expenses related to the above matters. See Note 11 for information relating to the ITD Dispute. Many of our engagements involve projects that are critical to the operations of our clients’ business and provide benefits that are difficult to quantify. Any failure in a client’s systems or our failure to meet our contractual obligations to our clients, including any breach involving a client’s confidential information or sensitive data, or our obligations under applicable laws or regulations could result in a claim for substantial damages against us, regardless of our responsibility for such failure. Although we attempt to contractually limit our liability for damages arising from negligent acts, errors, mistakes, or omissions in rendering our services, there can be no assurance that the limitations of liability set forth in our contracts will be enforceable in all instances or will otherwise protect us from liability for damages. Although we have general liability insurance coverage, including coverage for errors or omiss ions, we retain a significant portion of risk through our insurance deductibles and the re can be no assurance that such coverage will cover all types of claims, continue to be available on reasonable terms or will be |
Employee Benefits
Employee Benefits | 12 Months Ended |
Dec. 31, 2022 | |
Retirement Benefits, Description [Abstract] | |
Employee Benefits | We contribute to defined contribution plans, including 401(k) savings and supplemental retirement plans in the United States. Total expenses for our contributions to these plans, excluding the India plans described below, were $172 million, $135 million and $118 million for the years ended December 31, 2022, 2021 and 2020, respectively. In addition, we maintain employee benefit plans that cover substantially all India-based employees. The employees’ provident fund, pension and family pension plans are statutorily defined contribution retirement benefit plans. Under the plans, employees contribute up to 12.0% of their eligible compensation, which is matched by an equal contribution by the Company. For these plans, we recognized a contribution expense of $143 million, $121 million and $98 million for the years ended December 31, 2022, 2021 and 2020, respectively. We also maintain a gratuity plan in India that is a statutory post-employment benefit plan providing defined lump sum benefits. We make annual contributions to the employees’ gratuity fund established with a government-owned insurance corporation to fund a portion of the estimated obligation. Our liability for the gratuity plan reflected the undiscounted benefit obligation payable as of the balance sheet date, which was based upon the employees’ salary and years of service. As of December 31, 2022 and 2021, the amount accrued under the gratuity plan was $99 million and $118 million, which is net of fund assets of $206 million and $212 million, respectively . Expense recognized by us was $45 million, $70 million and $35 million for the years ended December 31, 2022, 2021 and 2020, respectively. |
Stock-Based Compensation Plans
Stock-Based Compensation Plans | 12 Months Ended |
Dec. 31, 2022 | |
Share-Based Payment Arrangement, Noncash Expense [Abstract] | |
Stock-Based Compensation Plans | The Company's 2017 Incentive Plan and the Purchase Plan provide for the issuance of up to 48.8 million shares (plus any shares underlying outstanding awards that are forfeited under the 2009 Incentive Plan) and 40.0 million shares, respectively, of Class A common stock to eligible employees. The 2017 Incentive Plan does not affect any awards outstanding under the 2009 Incentive Plan. As of December 31, 2022, we have 17.3 million and 2.6 million shares available for grant under the 2017 Incentive Plan and the Purchase Plan, respectively. The allocation of total stock-based compensation expense between cost of revenues and selling, general and administrative expenses as well as the related income tax benefit were as follows for the three years ended December 31: (in millions) 2022 2021 2020 Cost of revenues $ 33 $ 49 $ 51 SG&A expenses 228 197 181 Total stock-based compensation expense $ 261 $ 246 $ 232 Income tax benefit $ 59 $ 59 $ 48 Restricted Stock Units and Performance Stock Units We granted RSUs that vest in quarterly or annual installments over periods of up to four years to employees, including our executive officers. A summary of the activity for RSUs granted under our stock-based compensation plans as of December 31, 2022 and changes during the year then ended is presented below: Number of Weighted Average Unvested at January 1, 2022 3.9 $ 70.11 Granted 3.1 78.20 Vested (2.9) 72.19 Forfeited (0.7) 76.07 Unvested at December 31, 2022 3.4 $ 74.54 The weighted-average grant date fair value of RSUs granted in 2022, 2021 and 2020 was $78.20, $74.66 and $61.85, respectively. As of December 31, 2022, $182 million of total remaining unrecognized stock-based compensation cost related to RSUs is expected to be recognized over the weighted-average remaining requisite service period of 1.6 years. We granted PSUs that vest over periods up to four years to employees, including our executive officers. The vesting of PSUs is contingent on meeting certain financial performance targets, market conditions and continued service. A summary of the activity for PSUs granted under our stock-based compensation plans as of December 31, 2022 and changes during the year then ended is presented below. The presentation reflects the number of PSUs at the maximum performance milestones. Number of Weighted Average Unvested at January 1, 2022 2.3 $ 67.55 Granted 1.0 90.92 Vested (0.1) 60.37 Forfeited (0.4) 75.83 Adjustment at the conclusion of the performance measurement period (0.4) 63.88 Unvested at December 31, 2022 2.4 $ 76.93 The weighted-average grant date fair value of PSUs granted in 2022, 2021 and 2020 was $90.92, $73.38 and $62.00, respectively. As of December 31, 2022, $35 million of the total remaining unrecognized stock-based compensation cost related to PSUs is expected to be recognized over the weighted-average remaining requisite service period of 1.0 year. All RSUs and PSUs have dividend equivalent rights, which entitle holders to the same dividend value per share as holders of common stock. Dividend equivalent rights are subject to the same vesting and other terms and conditions as the corresponding unvested RSUs and PSUs and are accumulated and paid when the underlying shares vest. Purchase Plan Beginning in 2022, the Purchase Plan provides for eligible employees to purchase shares of Class A common stock at a price equal to 95% of the fair market value per share of our Class A common stock on the last date of the purchase period. This plan has been deemed non-compensatory and, therefore, no compensation expense has been recorded. During the year ended December 31, 2022, we issued 1.3 million shares of Class A common stock under the Purchase Plan. For the years ended December 31, 2021 and 2020, the Purchase Plan provided for eligible employees to purchase shares of Class A common stock at a price of 90% of the lesser of: (a) the fair market value of a share of Class A common stock on the first date of the purchase period or (b) the fair market value of a share of Class A common stock on the last date of the purchase period. Stock-based compensation expense for the Purchase Plan was recognized over the vesting period of three months on a straight-line basis. The fair values of the options granted under the Purchase Plan were estimated at the date of grant during the years ended December 31, 2021 and 2020 based upon the following assumptions, and were as follows: 2021 2020 Dividend yield 1.3 % 1.1 % Weighted average volatility factor 27.5 % 35.9 % Weighted average risk-free interest rate 0.03 % 0.6 % Weighted average expected life (in years) 0.25 0.25 Weighted average grant date fair value $ 11.72 $ 9.38 |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2022 | |
Segment Reporting Information, Revenue for Reportable Segment [Abstract] | |
Segment Information | We have seven industry-based operating segments, which are aggregated into four reportable business segments: • Financial Services, which consists of the banking and insurance operating segments; • Health Sciences (previously referred to as Healthcare), which consists of a single operating segment of the same name; • Products and Resources, which consists of the retail and consumer goods; manufacturing, logistics, energy, and utilities; and travel and hospitality operating segments; and • Communications, Media and Technology, which consists of a single operating segment of the same name. Our segments are industry-based, and as such, we report revenue from clients in the segment with which our clients are most closely aligned. 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 the operating segments may affect revenues and operating expenses to differing degrees. In 2022, we made certain changes to the internal measurement of segment operating profits for the purpose of evaluating segment performance and resource allocation. The primary reason for the change was to charge to the segments the costs that they directly manage and control. Specifically, segment operating profit now includes costs related to non-delivery personnel that support consulting services, which were previously included in "unallocated costs." We have reported 2022 segment operating profits using the new allocation methodology and have recast the 2021 and 2020 results to conform to the new methodology. Additionally, we made the following changes: • We renamed the Healthcare reportable business segment as Health Sciences. This segment, which was previously comprised of two operating segments, (i) healthcare and (ii) life sciences, is now comprised of one operating segment - health sciences. • The Communications, Media and Technology reportable business segment, which was previously comprised of two operating segments, (i) communications and media and (ii) technology, is now comprised of one operating segment - communications, media and technology. These changes reflect how these segments are managed and reported to the chief operating decision maker but did not affect the reportable business segments' financial results. Expenses included in segment operating profit consist principally of direct selling and delivery costs 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-bas ed compensation for commercial and delivery employees as compared to target, a portion of depreciation and amortization and the impact of the settlements of our cash flow hedges, and for 2020, restructuring costs, COVID-19 Charges and costs related to the ransomware attack, 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 business segment and geographic area see Note 2 . Segment operating profits by reportable business segment were as follows: (in millions) 2022 2021 2020 Financial Services $ 1,771 $ 1,707 $ 1,419 Health Sciences 1,515 1,527 1,357 Products and Resources 1,448 1,301 1,058 Communications, Media and Technology 1,012 925 780 Total segment operating profit 5,746 5,460 4,614 Less: unallocated costs 2,778 2,634 2,500 Income from operations $ 2,968 $ 2,826 $ 2,114 Geographic Area Information Long-lived assets by geographic area are as follows: (in millions) 2022 2021 2020 Long-lived Assets: (1) North America (2) $ 354 $ 377 $ 399 Europe 86 75 88 Rest of World (3) 661 719 764 Total $ 1,101 $ 1,171 $ 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. |
Valuation And Qualifying Accoun
Valuation And Qualifying Accounts | 12 Months Ended |
Dec. 31, 2022 | |
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | |
Valuation And Qualifying Accounts | Valuation and Qualifying Accounts For the Years Ended December 31, 2022, 2021 and 2020 (in millions) Description Balance at Charged to Charged to Deductions Balance at (in millions) Warranty accrual: 2022 $ 39 $ 41 $ — $ 39 $ 41 2021 $ 32 $ 36 $ 3 $ 32 $ 39 2020 $ 33 $ 32 $ — $ 33 $ 32 Valuation allowance—deferred income tax assets: 2022 $ 46 $ 3 $ — $ 8 $ 41 2021 $ 29 $ 17 $ — $ — $ 46 2020 $ 24 $ 5 $ — $ — $ 29 |
Subsequent Events (Notes)
Subsequent Events (Notes) | 12 Months Ended |
Dec. 31, 2022 | |
Subsequent Event [Line Items] | |
Subsequent Events [Text Block] | Dividend On February 1, 2023, our Board of Directors approved the Company's declaration of a $0.29 per share dividend with a record date of February 17, 2023 and a payment date of February 28, 2023. Acquisitions In January 2023, we completed the acquisition of the professional services and application management practices of OneSource Virtual, a leading provider of Workday services, solutions and products, for a purchase price of $103 million. This acquisition complements our existing finance and HR advisory implementation services with Workday, expanding our capabilities in consulting, deployment, and post-deployment support across North America and the United Kingdom. On December 30, 2022, $103 million was placed in an escrow account in advance of the closing date of January 1, 2023. This balance was deemed to be restricted cash as of December 31, 2022 and was presented in "Other noncurrent assets" in our consolidated statement of financial position. The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated statements of financial position to the amounts shown in the consolidated statements of cash flows as of December 31: (in millions) 2022 2021 2020 Cash and cash equivalents $ 2,191 $ 1,792 $ 2,680 Restricted cash 103 — — Total cash, cash equivalents and restricted cash $ 2,294 $ 1,792 $ 2,680 In January 2023, we entered into an agreement to acquire Mobica, an IoT software engineering services provider, for a preliminary purchase price of approximately $335 million. This acquisition will expand our IoT embedded software engineering capabilities and will provide clients with a deeper and broader array of end-to-end support to enable digital transformation. The transaction is expected to close in the first quarter of 2023, subject to satisfaction of customary closing conditions. |
Business Description and Summ_2
Business Description and Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of Presentation And Principles of Consolidation | Basis of Presentation, Principles of Consolidation and Use of Estimates. The consolidated financial statements are presented in accordance with GAAP and reflect the consolidated financial position, results of operations, comprehensive income and cash flows of our consolidated subsidiaries for all periods presented. All intercompany balances and transactions have been eliminated in consolidation. |
Use Of Estimates | The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying disclosures. We evaluate our estimates on a continuous basis. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. The actual amounts may vary from the estimates used in the preparation of the accompanying consolidated financial statements. |
Cash And Cash Equivalents And Investments | Cash and Cash Equivalents and Investments. Cash and cash equivalents consist of all cash balances, including money market funds, certificates of deposits and commercial paper that have a maturity, at the date of purchase, of 90 days or less. We determine the appropriate classification of our investments in marketable securities at the date of purchase and reevaluate such designation at each balance sheet date. We classify and account for our marketable debt securities as either available-for-sale or held-to-maturity. After consideration of our risk versus reward objectives, as well as our liquidity requirements, we may sell our available-for-sale securities prior to their stated maturities. We classify these marketable securities with maturities at the date of purchase beyond 90 days as short-term investments based on their highly liquid nature and because such marketable securities represent an investment of cash that is available for current operations. Available-for-sale securities are reported at fair value with changes in unrealized gains and losses recorded as a separate component of "Accumulated other comprehensive income (loss)" on the consolidated statements of financial position until realized. We determine the cost of the securities sold based on the specific identification method. Our held-to-maturity investment securities are financial instruments that we have the intent and ability to hold to maturity and we classify these securities with maturities less than one year as short-term investments. Any held-to-maturity investment securities with maturities beyond one year from the balance sheet date are classified as long-term investments. Held-to-maturity securities are reported at amortized cost. Interest and amortization of premiums and discounts for debt securities are included in interest income. For available-for-sale debt securities, if we do not intend to sell the security or it is not more likely than not that we will be required to sell the security before recovery of our amortized cost, we evaluate qualitative criteria, such as the financial health of and specific prospects for the issuer, to determine whether we do not expect to recover the amortized cost basis of the security. We also evaluate quantitative criteria including determining whether there has been an adverse change in expected future cash flows. If we do not expect to recover the entire amortized cost basis of the security, we consider the security to contain an expected credit loss, and we record the difference between the security’s amortized cost basis and its recoverable amount in earnings as an allowance for credit loss and the difference between the security’s recoverable amount and fair value in other comprehensive income. If we intend to sell the security or it is more likely than not we will be required to sell the security before recovery of its amortized cost basis, the security is considered impaired, and we recognize the entire difference between the security’s amortized cost basis and its fair value in earnings. On initial recognition and on an ongoing basis, we evaluate our held-to-maturity investment securities for expected credit losses collectively when they share similar risk characteristics or individually, when the risk characteristics are different. The allowance for expected credit losses is determined using our historical loss experience. We monitor the credit ratings of the |
Short-Term Financial Assets And Liabilities | Financial Assets and Liabilities. Cash and certain cash equivalents, time deposits, trade receivables, accounts payable and other accrued liabilities are short-term in nature and, accordingly, their carrying values approximate fair value. |
Property And Equipment | Property and Equipment. Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets. Leasehold improvements are amortized on a straight-line basis over the shorter of the term of the lease or the estimated useful life of the asset. Deposits paid towards acquisition of long-lived assets and the cost of assets not put in use by the balance sheet date are disclosed under the caption "Capital work-in-progress" in Note 6 . |
Lessee, Leases | Leases. Our lease asset classes primarily consist of operating leases for office space, data centers and IT equipment. At inception of a contract, we determine whether a contract contains a lease, and if a lease is identified, whether it is an operating or finance lease. In determining whether a contract contains a lease we consider whether (1) we have the right to obtain substantially all of the economic benefits from the use of the asset throughout the term of the contract, (2) we have the right to direct how and for what purpose the asset is used throughout the term of the contract and (3) we have the right to operate the asset throughout the term of the contract without the lessor having the right to change the terms of the contract. Some of our lease agreements contain both lease and non-lease components that we account for as a single lease component for all of our lease asset classes. Our ROU lease assets represent our right to use an underlying asset for the lease term and may include any advance lease payments made and any initial direct costs and exclude lease incentives. Our lease liabilities represent our obligation to make lease payments arising from the terms of the lease. ROU lease assets and lease liabilities are recognized at the commencement of the lease and are calculated using the present value of lease payments over the lease term. Typically, our lease agreements do not provide sufficient detail to determine the rate implicit in the lease. Therefore, we use our estimated country-specific incremental borrowing rate based on information available at the commencement date of the lease to calculate the present value of the lease payments. In estimating our country-specific incremental borrowing rates, we consider market rates of comparable collateralized borrowings for similar terms. Our lease terms may include the option to extend or terminate the lease before the end of the contractual lease term. Our ROU lease assets and lease liabilities include these options when it is reasonably certain that they will be exercised. A portion of our real estate lease costs is subject to annual changes in the CPI. Changes in CPI subsequent to the lease commencement are treated as variable lease payments and are recognized in the period in which the obligation for those payments is incurred. Other variable lease costs primarily relate to adjustments for common area maintenance, utilities, property tax and lease concessions. These variable costs are recognized in the period in which the obligation is incurred. We elect not to recognize ROU assets and lease liabilities for short-term leases with a term equal to or less than 12 months. We recognize the lease payments in our income statement on a straight-line basis over the lease term and variable lease payments in the period in which the obligation for those payments is incurred. Both ROU assets and finance lease assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the related asset group may not be recoverable. |
Internal Use Software | Internal Use Software. We capitalize certain costs that are incurred to purchase, develop and implement internal-use software during the application development phase, which primarily include coding, testing and certain data conversion activities. Capitalized costs are amortized on a straight-line basis over the useful life of the software. Costs incurred in performing planning and post-implementation activities are expensed as incurred. |
Cloud Computing Arrangements | Cloud Computing Arrangements. We defer certain implementation costs that are incurred when implementing cloud computing service or software-as-a-service arrangements, which primarily include efforts associated with configuration and development activities. Once the service is ready for use, deferred costs are expensed over the term of the arrangement and recognized in income from operations. |
Software to be Sold Leased or Marketed | Software to be Sold, Leased or Marketed. We capitalize costs incurred after technological feasibility is reached but before software is available for general release to clients, which primarily include coding and testing activities. Once the product is ready for general release, capitalized costs are amortized over the useful life of the software. |
Business Combinations | Business Combinations. We account for business combinations using the acquisition method, which requires the identification of the acquirer, the determination of the acquisition date and the allocation of the purchase price paid by the acquirer to the identifiable tangible and intangible assets acquired, the liabilities assumed, including any contingent consideration and any noncontrolling interest in the acquiree at their acquisition date fair values. Goodwill represents the excess of the purchase price over the fair value of net assets acquired, including the amount assigned to identifiable intangible assets. Identifiable intangible assets with finite lives are amortized over their expected useful lives. Acquisition-related costs are expensed in the periods in which the costs are incurred. The results of operations of acquired businesses are included in our consolidated financial statements from the acquisition date . |
Equity Method Investments | Equity Method Investments. Equity investments that give us the ability to exercise significant influence, but not control, over an investee are accounted for using the equity method of accounting and recorded in the caption "Long-term investments" on our consolidated statements of financial position. Equity method investments are initially recorded at cost. We periodically review the carrying value of our equity method investments to determine if there has been an other-than-temporary decline in the carrying value. The investment balance is increased to reflect contributions and our share of earnings and decreased to reflect our share of losses, distributions and other-than-temporary impairments. Our proportionate share of the net income or loss of the investee is recorded in the caption "Income (loss) from equity method investments" on our consolidated statements of operations. |
Long-Lived Assets And Finite-Lived Intangibles | Long-lived Assets and Finite-lived Intangible Assets. We review long-lived assets and certain finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. The carrying amount may not be recoverable when the sum of undiscounted expected future cash flows is less than the carrying amount of such asset groups. The impairment loss is determined as the amount by which the carrying amount of the asset group exceeds its fair value. Intangible assets consist primarily of customer relationships and developed technology, which are being amortized on a straight-line basis over their estimated useful lives. |
Goodwill And Indefinite-Lived intangibles | Goodwill and Indefinite-lived Intangible Assets. At each acquisition date, we allocate goodwill and intangible assets to our reporting units based on how we expect each reporting unit to benefit from the respective business combination. Our seven industry-based operating segments are our reporting units. We evaluate goodwill and indefinite-lived intangible assets for impairment at least annually, or as circumstances warrant. Goodwill is evaluated at the reporting unit level by comparing the fair value of the reporting unit with its carrying amount including goodwill. An impairment of goodwill exists if the carrying amount of the reporting unit exceeds its fair value. The impairment loss is the amount by which the carrying amount exceeds the reporting unit’s fair value, limited to the total amount of goodwill allocated to that reporting unit. For indefinite-lived intangible assets, if our qualitative assessment indicates that it is more-likely-than-not that an indefinite-lived intangible asset is impaired, we test the assets for impairment by comparing the fair value of such assets to their carrying value. If an impairment is indicated, a write down to the fair value of indefinite-lived intangible asset is recorded. |
Stock Repurchase Program | Stock Repurchase Program. Under the Board of Directors authorized stock repurchase program, the Company is authorized to repurchase its Class A common stock through open market purchases, including under a 10b5-1 Plan, or in private transactions, including thr ough ASR agreements en tered into with financial institutions, in accordance with applica ble federal securities laws. We account for the repurchased shares as constructively retired. Shares are returned to the status of authorized and unissued shares at the time of repurchase or in the periods they are delivered if repurchased under an ASR. To reflect share repurchases in the consolidated statements of financial position, we (1) reduce common stock for the par value of the shares, (2) reduce additional paid-in capital for the amount in excess of par during the period in which the shares are repurchased and (3) record any residual amount in excess of available additional paid-in capital to retained earnings. Upfront payments related to ASRs are accounted for as a reduction to stockholders’ equity in the consolidated statements of financial position in the period the payments are made. |
Revenue Recognition | Revenue Recognition. We recognize revenues as we transfer control of deliverables (products, solutions and services) to our clients in an amount reflecting the consideration to which we expect to be entitled. To recognize revenues, we apply the following five step approach: (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenues when a performance obligation is satisfied. We account for a contract when it has approval and commitment from all parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectibility of consideration is probable. We apply judgment in determining the customer’s ability and intention to pay based on a variety of factors including the customer’s historical payment experience. For performance obligations where control is transferred over time, revenues are recognized based on the extent of progress towards completion of the performance obligation. The selection of the method to measure progress towards completion requires judgment and is based on the nature of the deliverables to be provided. Revenues related to fixed-price contracts for application development and systems integration services, consulting or other technology services are recognized as the service is performed using the cost-to-cost method, under which the total value of revenues is recognized on the basis of the percentage that each contract’s total labor cost to date bears to the total expected labor costs. Revenues related to fixed-price application maintenance, quality engineering and assurance as well as business process services are recognized based on our right to invoice for services performed for contracts in which the invoicing is representative of the value being delivered. If our invoicing is not consistent with the value delivered, revenues are recognized as the service is performed based on the cost-to-cost method described above. The cost-to-cost method requires estimation of future costs, which is updated as the project progresses to reflect the latest available information. Such estimates and changes in estimates involve the use of judgment. The cumulative impact of any revision in estimates is reflected in the financial reporting period in which the change in estimate becomes known and any anticipated losses on contracts are recognized immediately, where appropriate. Revenues related to fixed-price hosting and infrastructure and security services are recognized based on our right to invoice for services performed for contracts in which the invoicing is representative of the value being delivered. If our invoicing is not consistent with the value delivered, revenues are recognized on a straight-line basis unless revenues are earned and obligations are fulfilled in a different pattern. The revenue recognition method applied to the types of contracts described above provides the most faithful depiction of performance towards satisfaction of our performance obligations; for example, the cost-to-cost method is used when the value of services provided to the customer is best represented by the costs expended to deliver those services. Revenues related to our time-and-materials, transaction-based or volume-based contracts are recognized over the period the services are provided either using an output method such as labor hours, or a method that is otherwise consistent with the way in which value is delivered to the customer. Revenues related to our non-hosted software license arrangements that do not require significant modification or customization of the underlying software are recognized when the software is delivered as control is transferred at a point in time. For software license arrangements that require significant functionality enhancements or modification of the software, revenues for the software license and related services are recognized as the services are performed in accordance with the methods applicable to application development and systems integration services described above. In software hosting arrangements, the rights provided to the customer, such as ownership of a license, contract termination provisions and the feasibility of the client to operate the software, are considered in determining whether the arrangement includes a license or a service. Sales and usage-based fees promised in exchange for licenses of intellectual property are not recognized as revenue until the uncertainty related to the variable amounts is resolved. Revenues related to software maintenance and support are generally recognized on a straight-line basis over the contract period. Incentive revenues, volume discounts, or any other form of variable consideration is estimated using either the sum of probability weighted amounts in a range of possible consideration amounts (expected value) or the single most likely amount in a range of possible consideration amounts (most likely amount), depending on which method better predicts the amount of consideration to which we may be entitled. We include in the transaction price variable consideration only to the extent it is probable that a significant reversal of revenues recognized will not occur when the uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and determination of whether and when to include estimated amounts in the transaction price may involve judgment and are based largely on an assessment of our anticipated performance and all information that is reasonably available to us. Revenues also include the reimbursement of out-of-pocket expenses. Our warranties generally provide a customer with assurance that the related deliverable will function as the parties intended because it complies with agreed-upon specifications and are therefore not considered an additional performance obligation in the contract. We may enter into arrangements that consist of multiple performance obligations. Such arrangements may include any combination of our deliverables. To the extent a contract includes multiple promised deliverables, we apply judgment to determine whether promised deliverables are capable of being distinct and are distinct in the context of the contract. If these criteria are not met, the promised deliverables are accounted for as a combined performance obligation. For arrangements with multiple distinct performance obligations, we allocate consideration among the performance obligations based on their relative standalone selling price. Standalone selling price is the price at which we would sell a promised good or service separately to the customer. When not directly observable, we typically estimate standalone selling price by using the expected cost plus a margin approach. We typically establish a standalone selling price range for our deliverables, which is reassessed on a periodic basis or when facts and circumstances change. We assess the timing of the transfer of goods or services to the customer as compared to the timing of payments to determine whether a significant financing component exists. As a practical expedient, we do not assess the existence of a significant financing component when the difference between payment and transfer of deliverables is a year or less. If the difference in timing arises for reasons other than the provision of finance to either the customer or us, no financing component is deemed to exist. The primary purpose of our invoicing terms is to provide customers with simplified and predictable ways of purchasing our services, not to receive or provide financing from or to customers. We do not consider set up or transition fees paid upfront by our customers to represent a financing component, as such fees are required to encourage customer commitment to the project and protect us from early termination of the contract. Our contracts may be modified to add, remove or change existing performance obligations. The accounting for modifications to our contracts involves assessing whether the services added to an existing contract are distinct and whether the pricing is at the standalone selling price. Services added that are not distinct are accounted for on a cumulative catch up basis, while those that are distinct are accounted for prospectively, either as a separate contract if the additional services are priced at the standalone selling price, or as a termination of the existing contract and creation of a new contract if not priced at the standalone selling price. Services added to our application development and systems integration service contracts are typically not distinct, while services added to our other contracts, including application maintenance, quality engineering and assurance as well as business process services contracts, are typically distinct. From time to time, we may enter into arrangements with third party suppliers to resell products or services. In such cases, we evaluate whether we are the principal (i.e., report revenues on a gross basis) or agent (i.e., report revenues on a net basis). In doing so, we evaluate whether we control the good or service before it is transferred to the customer. If we control the good or service before it is transferred to the customer, we are the principal; if not, we are the agent. Determining whether we control the good or service before it is transferred to the customer may require judgment. Trade Accounts Receivable, Contract Assets and Contract Liabilities. We classify our right to consideration in exchange for deliverables as either a receivable or a contract asset. A receivable is a right to consideration that is unconditional (i.e., only the passage of time is required before payment is due). For example, we recognize a receivable for revenues related to our time and materials and transaction or volume-based contracts when earned regardless of whether amounts have been billed. We present such receivables in "Trade accounts receivable, net" in our consolidated statements of financial position at their net estimated realizable value. 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 consolidated statements of financial position and primarily relate to unbilled amounts on fixed-price contracts utilizing the cost-to-cost method of revenue recognition. Our contract liabilities, or deferred revenue, consist of advance payments from clients and billings in excess of revenues recognized. We classify deferred revenue as current or noncurrent based on the timing of when we expect to recognize the revenues. Our contract assets and contract liabilities are reported on a net basis by contract at the end of each reporting period. The difference between the opening and closing balances of our contract assets and contract liabilities primarily results from the timing difference between our performance obligations and the client’s payment. We receive payments from clients based on the terms established in our contracts, which vary from contract to contract. Allowance for Credit Losses . We calculate expected credit losses for our trade accounts receivable and contract assets. Expected credit losses include losses expected based on known credit issues with specific customers as well as a general expected credit loss allowance based on relevant information, including historical loss rates, current conditions, and reasonable economic forecasts that affect collectibility . We update our allowance for credit losses on a quarterly basis with changes in the allowance recognized in income from operations. |
Accounts Receivable | Trade Accounts Receivable, Contract Assets and Contract Liabilities. We classify our right to consideration in exchange for deliverables as either a receivable or a contract asset. A receivable is a right to consideration that is unconditional (i.e., only the passage of time is required before payment is due). For example, we recognize a receivable for revenues related to our time and materials and transaction or volume-based contracts when earned regardless of whether amounts have been billed. We present such receivables in "Trade accounts receivable, net" in our consolidated statements of financial position at their net estimated realizable value. 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 consolidated statements of financial position and primarily relate to unbilled amounts on fixed-price contracts utilizing the cost-to-cost method of revenue recognition. Our contract liabilities, or deferred revenue, consist of advance payments from clients and billings in excess of revenues recognized. We classify deferred revenue as current or noncurrent based on the timing of when we expect to recognize the revenues. Our contract assets and contract liabilities are reported on a net basis by contract at the end of each reporting period. The difference between the opening and closing balances of our contract assets and contract liabilities primarily results from the timing difference between our performance obligations and the client’s payment. We receive payments from clients based on the terms established in our contracts, which vary from contract to contract. Allowance for Credit Losses . We calculate expected credit losses for our trade accounts receivable and contract assets. Expected credit losses include losses expected based on known credit issues with specific customers as well as a general expected credit loss allowance based on relevant information, including historical loss rates, current conditions, and reasonable economic forecasts that affect collectibility . We update our allowance for credit losses |
Stock-Based Compensation | Stock-Based Compensation. Stock-based compensation expense for awards of equity instruments to employees and non-employee directors is determined based on the grant date fair value of those awards. We recognize these compensation costs net of an estimated forfeiture rate over the requisite service period of the award. Forfeitures are estimated on the date of grant and revised if actual or expected forfeiture activity differs materially from original estimates. Stock-based compensation expense relating to RSUs is recognized on a straight-line basis as shares vest over the requisite service period. Stock-based compensation costs for PSUs are recognized on a graded-vesting basis over the vesting period based on the most probable outcome of the performance conditions. If the minimum performance targets are not met, no compensation cost is recognized and any recognized compensation cost is reversed, except for awards subject to a market condition. The fair value of RSUs and PSUs is determined based on the number of stock units granted and the quoted price of our stock at the date of grant. The fair value of PSUs granted subject to a market condition is determined using a Monte Carlo valuation model. |
Foreign Currency | Foreign Currency. The assets and liabilities of our foreign subsidiaries whose functional currency is not the U.S. dollar are translated into U.S. dollars at current exchange rates while revenues and expenses are translated at average monthly exchange rates. The resulting translation adjustments are recorded in the caption "Accumulated other comprehensive income (loss)" on the consolidated statements of financial position. Foreign currency transactions and balances are those that are denominated in a currency other than the entity’s functional currency. An entity's functional currency is the currency of the primary economic environment in which it operates. The U.S. dollar is the functional currency for some of our foreign subsidiaries. For these subsidiaries, transactions and balances denominated in the local currency are foreign currency transactions. Foreign currency transactions and balances related to non-monetary assets and liabilities are remeasured to the functional currency of the entity at historical exchange rates while monetary assets and liabilities are remeasured to the functional currency of the entity at current exchange rates. Foreign currency exchange gains or losses from remeasurement are included in the caption "Foreign currency exchange gain (losses), net" on our consolidated statements of operations together with gains or losses on our undesignated foreign currency hedges. |
Derivative Financial Instruments | Derivative Financial Instruments. Derivative financial instruments are recorded on our consolidated statements of financial position as either an asset or liability measured at its fair value as of the reporting date. Our derivative financial instruments consist primarily of foreign exchange forward and option contracts. For derivative financial instruments to qualify for hedge accounting, the following criteria must be met: (1) the hedging instrument must be designated as a hedge; (2) the hedged exposure must be specifically identifiable and must expose us to risk; and (3) it must be expected that a change in fair value of the hedging instrument and an opposite change in the fair value of the hedged exposure will have a high degree of correlation. Changes in our derivatives’ fair values are recognized in net income unless specific hedge accounting and documentation criteria are met (i.e., the instruments are designated and accounted for as hedges). We record the effective portion of the unrealized gains and losses on our derivative financial instruments that are designated as cash flow hedges in the caption "Accumulated other comprehensive income (loss)" in the consolidated statements of financial position. Any ineffectiven ess or excluded portion of a designated cash flow hedge is recognized in net income. U pon occurrence of the hedged transaction, the gains and losses on the derivative are recognized in net income. |
Income Taxes | Income Taxes. We provide for income taxes utilizing the asset and liability method of accounting. Under this method, deferred income taxes are recorded to reflect the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each balance sheet date, based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. If it is determined that it is more likely than not that future tax benefits associated with a deferred income tax asset will not be realized, a valuation allowance is provided. The effect of a change in tax rates on deferred income tax assets and liabilities is recognized in the provision for income taxes in the period that includes the enactment date. Our provision for income taxes also includes the impact of provisions established for uncertain income tax positions, as well as any related penalties and interest. We adjust these reserves in light of changing facts and circumstances, such as the closing of a tax audit or the expiration of the applicable statute of limitations. To the extent that the final outcome of these matters differs from the amounts recorded, such differences will impact the provision for income taxes in the period in which such determination is made. |
Earnings Per Share, Or EPS | Earnings Per Share. Basic EPS is computed by dividing earnings available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS includes all potential dilutive common stock in the weighted average shares outstanding. We excluded less than 1 million of anti-dilutive shares in each of 2022, 2021 and 2020 from our diluted EPS calculation. We include PSUs in the dilutive common shares when they become contingently issuable per the authoritative guidance and exclude them when they are not contingently issuable. |
Recently Adopted/ New Accounting Pronouncements | Recently Adopted Accounting Pronouncements Date Issued and Topic Date Adopted and Method Description Impact June 2016 Financial Instruments-Credit Losses January 1, 2020 Modified Retrospective The standard requires the measurement and recognition of expected credit losses using the current expected credit loss model for financial assets held at amortized cost, which includes the Company’s trade accounts receivable, certain financial instruments and contract assets. It replaces the existing incurred loss impairment model with an expected loss methodology. The recorded credit losses are adjusted each period for changes in expected lifetime credit losses. The standard requires a cumulative effect adjustment to the statement of financial position as of the beginning of the first reporting period in which the guidance is effective. As a result of the adoption, we recorded an increase to our opening retained earnings and "Trade accounts receivable, net" of $1 million each. |
Revenues (Tables)
Revenues (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Revenues [Abstract] | |
Disaggregation of Revenue | 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 reportable 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. Our consulting and technology services include consulting, application development, systems integration, quality engineering and assurance services as well as software solutions and related services while our outsourcing services include application maintenance, infrastructure and security as well as business process services. 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 clients in the United States. Year Ended December 31, 2022 (in millions) FS HS P&R CMT Total Revenues Geography: North America $ 4,312 $ 4,853 $ 3,078 $ 2,192 $ 14,435 United Kingdom 599 171 521 519 1,810 Continental Europe 590 483 585 137 1,795 Europe - Total 1,189 654 1,106 656 3,605 Rest of World 571 124 382 311 1,388 Total $ 6,072 $ 5,631 $ 4,566 $ 3,159 $ 19,428 Service line: Consulting and technology services $ 4,207 $ 3,226 $ 3,017 $ 1,775 $ 12,225 Outsourcing services 1,865 2,405 1,549 1,384 7,203 Total $ 6,072 $ 5,631 $ 4,566 $ 3,159 $ 19,428 Type of contract: Time and materials $ 3,516 $ 2,010 $ 1,856 $ 1,797 $ 9,179 Fixed-price 2,265 2,471 2,357 1,206 8,299 Transaction or volume-based 291 1,150 353 156 1,950 Total $ 6,072 $ 5,631 $ 4,566 $ 3,159 $ 19,428 Year Ended December 31, 2021 (in millions) FS HS P&R CMT Total Revenues Geography: North America $ 4,204 $ 4,571 $ 2,937 $ 1,924 $ 13,636 United Kingdom 547 168 471 456 1,642 Continental Europe 745 477 539 158 1,919 Europe - Total 1,292 645 1,010 614 3,561 Rest of World 555 121 329 305 1,310 Total $ 6,051 $ 5,337 $ 4,276 $ 2,843 $ 18,507 Service line: Consulting and technology services $ 4,079 $ 3,090 $ 2,725 $ 1,693 $ 11,587 Outsourcing services 1,972 2,247 1,551 1,150 6,920 Total $ 6,051 $ 5,337 $ 4,276 $ 2,843 $ 18,507 Type of contract: Time and materials $ 3,613 $ 2,063 $ 1,785 $ 1,679 $ 9,140 Fixed-price 2,063 2,157 2,085 1,032 7,337 Transaction or volume-based 375 1,117 406 132 2,030 Total $ 6,051 $ 5,337 $ 4,276 $ 2,843 $ 18,507 Year Ended December 31, 2020 (in millions) FS HS P&R CMT Total Revenues Geography: North America $ 4,013 $ 4,181 $ 2,650 $ 1,737 $ 12,581 United Kingdom 463 157 371 344 1,335 Continental Europe 629 434 413 177 1,653 Europe - Total 1,092 591 784 521 2,988 Rest of World 516 80 262 225 1,083 Total $ 5,621 $ 4,852 $ 3,696 $ 2,483 $ 16,652 Service line: Consulting and technology services $ 3,691 $ 2,786 $ 2,249 $ 1,456 $ 10,182 Outsourcing services 1,930 2,066 1,447 1,027 6,470 Total $ 5,621 $ 4,852 $ 3,696 $ 2,483 $ 16,652 Type of contract: Time and materials $ 3,548 $ 1,950 $ 1,548 $ 1,515 $ 8,561 Fixed-price 1,736 1,777 1,741 871 6,125 Transaction or volume-based 337 1,125 407 97 1,966 Total $ 5,621 $ 4,852 $ 3,696 $ 2,483 $ 16,652 |
Capitalized Contract Cost | Costs to Fulfill The following table shows significant movements in the capitalized costs to fulfill: (in millions) 2022 2021 Beginning balance $ 394 $ 467 Costs capitalized 39 56 Amortization expense (109) (118) Impairment charges (1) (59) (11) Ending balance $ 265 $ 394 (1) The impairment charges in 2022 are related to costs to fulfill a large volume-based contract with a Health Sciences client. In 2021, the impairment charges relate to various clients across multiple business segments. Costs to obtain contracts were immaterial for the periods disclosed. |
Contract with Customer, Asset and Liability | The table below shows significant movements in contract assets: (in millions) 2022 2021 Beginning balance $ 310 $ 315 Revenues recognized during the period but not billed 308 275 Amounts reclassified to trade accounts receivable (285) (280) Effect of foreign currency exchange movements (7) — Ending balance $ 326 $ 310 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): (in millions) 2022 2021 Beginning balance $ 443 $ 419 Amounts billed but not recognized as revenues 397 413 Revenues recognized related to the beginning balance of deferred revenue (416) (389) Effect of foreign currency exchange movements (7) — Ending balance $ 417 $ 443 |
Reinsurance Recoverable, Allowance for Credit Loss | The following table presents the activity in the allowance for credit losses for the trade accounts receivable: (in millions) 2022 2021 2020 Beginning balance $ 50 $ 57 $ 67 Impact of adoption of the Credit Loss Standard — — (1) Credit loss expense 9 6 8 Write-offs charged against the allowance (16) (13) (17) Ending balance $ 43 $ 50 $ 57 |
Business Combinations (Tables)
Business Combinations (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Business Acquisition [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The allocations of preliminary purchase price to the fair value of the assets acquired and li abilities assumed were as follows: (dollars in millions) AustinCSI Utegration Total Weighted Average Useful Life Cash $ — $ 5 $ 5 Trade accounts receivable 9 21 30 Property and equipment and other assets 4 15 19 Non-deductible goodwill — 23 23 Tax-deductible goodwill 83 87 170 Customer relationship assets 69 83 152 11.1 years Other intangible assets — 1 1 3.1 years Current liabilities (3) (17) (20) Noncurrent liabilities (1) (4) (5) Purchase price $ 161 $ 214 $ 375 The allocations of purchase price to the fair value of the assets acquired and li abilities assumed were as follows: (dollars in millions) Devbridge Servian Magenic ESG Mobility Linium Other Total Weighted Average Useful Life Cash $ 7 $ 4 $ 13 $ 28 $ — $ 2 $ 54 Trade accounts receivable 12 15 17 30 5 12 91 Property and equipment and other assets 5 6 4 8 1 4 28 Operating lease assets, net 11 5 10 27 — 1 54 Non-deductible goodwill 41 184 10 26 — 18 279 Tax-deductible goodwill 140 — 137 24 57 10 368 Customer relationship assets 72 77 90 77 24 32 372 9.8 years Other intangible assets — 2 1 — — — 3 3.8 years Current liabilities (11) (12) (29) (22) (2) (7) (83) Noncurrent liabilities (9) (29) (7) (66) — (6) (117) Purchase price, inclusive of contingent consideration $ 268 $ 252 $ 246 $ 132 $ 85 $ 66 $ 1,049 |
Investments (Tables)
Investments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Investments [Abstract] | |
Marketable Securities [Table Text Block] | Our investments were as follows as of December 31: (in millions) 2022 2021 Short-term investments: Equity investment security $ 10 $ 26 Available-for-sale investment securities 225 310 Held-to-maturity investment securities 24 37 Time deposits 51 554 Total short-term investments $ 310 $ 927 Long-term investments: Other investments $ 70 $ 66 Restricted time deposits (1) 357 397 Total long-term investments $ 427 $ 463 |
Property and Equipment, net (Ta
Property and Equipment, net (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Property, Plant and Equipment, Net [Abstract] | |
Schedule of property and equipment | Property and equipment were as follows as of December 31: Estimated Useful Life 2022 2021 (in years) (in millions) Buildings 30 $ 771 $ 777 Computer equipment 3 – 5 729 638 Computer software 3 – 8 1,033 926 Furniture and equipment 5 – 9 768 772 Land 7 7 Capital work-in-progress 111 116 Leasehold improvements Shorter of the lease term or 398 431 Sub-total 3,817 3,667 Accumulated depreciation and amortization (2,716) (2,496) Property and equipment, net $ 1,101 $ 1,171 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Leases [Abstract] | |
Schedule of Lease's Statement of Financial Position | The following table provides information on the components of our operating and finance leases included in our consolidated statement of financial position as of December 31: Leases Location on Statement of Financial Position 2022 2021 Assets (in millions) ROU operating lease assets Operating lease assets, net $ 876 $ 933 ROU finance lease assets Property and equipment, net 8 7 Total $ 884 $ 940 Liabilities Current Operating lease Operating lease liabilities $ 174 $ 195 Finance lease Accrued expenses and other current liabilities 5 8 Noncurrent Operating lease Operating lease liabilities, noncurrent 714 783 Finance lease Other noncurrent liabilities 8 5 Total $ 901 $ 991 |
Schedule of Cash Flow and Other Information | The following table provides information on the weighted average remaining lease term and weighted average discount rate for our operating leases as of December 31: Operating Lease Term and Discount Rate 2022 2021 Weighted average remaining lease term 6.2 years 6.5 years Weighted average discount rate 5.4 % 5.4 % The following table provides supplemental cash flow and non-cash information related to our operating leases as of December 31: (in millions) 2022 2021 2020 Cash paid for amounts included in the measurement of operating lease liabilities $ 241 $ 274 $ 271 ROU assets obtained in exchange for operating lease liabilities 164 100 273 |
Schedule of Future Minimum Payments | The following table provides the schedule of maturities of our operating lease liabilities and a reconciliation of the undiscounted cash flows to the operating lease liabilities recognized in the statement of financial position as of December 31: (in millions) 2022 2023 $ 215 2024 180 2025 155 2026 129 2027 108 Thereafter 267 Total operating lease payments 1,054 Interest (166) Total operating lease liabilities $ 888 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets, net (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule Of Goodwill | Changes in goodwill by our reportable business segments were as follows for the years ended December 31, 2022 and 2021: Segment January 1, 2022 Goodwill Additions and Adjustments Foreign Currency Translation Adjustments December 31, 2022 (in millions) Financial Services $ 1,109 $ 5 $ (41) $ 1,073 Health Sciences 2,831 2 (14) 2,819 Products and Resources 967 127 (32) 1,062 Communications, Media and Technology 713 59 (16) 756 Total goodwill $ 5,620 $ 193 $ (103) $ 5,710 Segment January 1, 2021 Goodwill Additions and Adjustments Foreign Currency Translation Adjustments December 31, 2021 (in millions) Financial Services $ 932 $ 198 $ (21) $ 1,109 Health Sciences 2,755 84 (8) 2,831 Products and Resources 780 200 (13) 967 Communications, Media and Technology 564 156 (7) 713 Total goodwill $ 5,031 $ 638 $ (49) $ 5,620 |
Schedule of Finite-Lived Intangible Assets | Components of intangible assets were as follows as of December 31: 2022 2021 (in millions) Gross Carrying Accumulated Net Carrying Gross Carrying Accumulated Net Carrying Customer relationships $ 1,803 $ (738) $ 1,065 $ 1,679 $ (610) $ 1,069 Developed technology 383 (369) 14 385 (330) 55 Indefinite lived trademarks 72 — 72 72 — 72 Finite lived trademarks and other 81 (64) 17 81 (59) 22 Total intangible assets $ 2,339 $ (1,171) $ 1,168 $ 2,217 $ (999) $ 1,218 |
Schedule of Indefinite-Lived Intangible Assets | Components of intangible assets were as follows as of December 31: 2022 2021 (in millions) Gross Carrying Accumulated Net Carrying Gross Carrying Accumulated Net Carrying Customer relationships $ 1,803 $ (738) $ 1,065 $ 1,679 $ (610) $ 1,069 Developed technology 383 (369) 14 385 (330) 55 Indefinite lived trademarks 72 — 72 72 — 72 Finite lived trademarks and other 81 (64) 17 81 (59) 22 Total intangible assets $ 2,339 $ (1,171) $ 1,168 $ 2,217 $ (999) $ 1,218 |
Schedule Of Estimated Amortization Expense | The following table provides the estimated amortization expense related to our existing intangible assets for the next five years. (in millions) Estimated Amortization 2023 $ 155 2024 150 2025 147 2026 144 2027 136 |
Accrued Expenses and Other Cu_2
Accrued Expenses and Other Current Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Accrued Expenses And Other Current Liabilities [Abstract] | |
Accrued Expenses And Other Current Liabilities | Accrued expenses and other current liabilities were as follows as of December 31: (in millions) 2022 2021 Compensation and benefits $ 1,446 $ 1,601 Customer volume and other incentives 222 242 Income taxes 217 74 Professional fees 165 220 Other 357 395 Total accrued expenses and other current liabilities $ 2,407 $ 2,532 |
Debt (Tables)
Debt (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Debt Disclosure [Abstract] | |
Schedule of long-term debt | The following summarizes our long-term debt balances as of December 31: (in millions) 2022 2021 Term loan $ 650 $ 666 Less: Current maturities (8) (38) Unamortized deferred financing costs (4) (2) Long-term debt, net of current maturities $ 638 $ 626 |
Schedule of debt maturities | The following represents the schedule of maturities of our New Term Loan: Year Amounts (in millions) 2023 $ 8 2024 33 2025 33 2026 33 2027 543 Total $ 650 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Schedule Of Income Before Provision For Income Tax | Income before provision for income taxes shown below is based on the geographic location to which such income was attributed for years ended December 31: (in millions) 2022 2021 2020 United States $ 975 $ 818 $ 814 Foreign 2,041 2,009 1,282 Income before provision for income taxes $ 3,016 $ 2,827 $ 2,096 |
Schedule Of Components Of Provision For Income Taxes | The provision for income taxes consisted of the following components for the years ended December 31: (in millions) 2022 2021 2020 Current: Federal and state $ 492 $ 210 $ 137 Foreign 511 456 383 Total current provision 1,003 666 520 Deferred: Federal and state (240) (50) (77) Foreign (33) 77 261 Total deferred (benefit) provision (273) 27 184 Total provision for income taxes $ 730 $ 693 $ 704 |
Reconciliation Between Effective Income Tax Rate and U.S. Federal Statutory Rate | The reconciliation between the U.S. federal statutory rate and our effective income tax rate were as follows for the years ended December 31: (Dollars in millions) 2022 % 2021 % 2020 % Tax expense, at U.S. federal statutory rate $ 633 21.0 $ 594 21.0 $ 440 21.0 State and local income taxes, net of federal benefit 63 2.1 50 1.8 52 2.5 Non-taxable income for Indian tax purposes (6) (0.2) (36) (1.3) (48) (2.3) Rate differential on foreign earnings 98 3.2 137 4.8 178 8.5 Recognition of benefits related to uncertain tax positions (43) (1.4) (14) (0.5) — — Credits and other incentives (17) (0.6) (42) (1.5) (51) (2.4) Reversal of indefinite reinvestment assertion — — — — 140 6.6 Other 2 0.1 4 0.2 (7) (0.3) Total provision for income taxes $ 730 24.2 $ 693 24.5 $ 704 33.6 |
Schedule Of Deferred Tax Assets and Liabilities | The significant components of deferred income tax assets and liabilities recorded on the consolidated statements of financial position were as follows as of December 31: (in millions) 2022 2021 Deferred income tax assets: Net operating losses $ 46 $ 52 Revenue recognition 37 116 Compensation and benefits 159 230 Credit carryforwards 16 27 Expenses not currently deductible 498 121 756 546 Less: valuation allowance (41) (46) Deferred income tax assets, net 715 500 Deferred income tax liabilities: Depreciation and amortization 194 202 Deferred costs 48 84 Other 11 28 Deferred income tax liabilities 253 314 Net deferred income tax assets $ 462 $ 186 |
Summary Of Changes in Unrecognized Tax Benefits | Changes in unrecognized income tax benefits were as follows for the years ended December 31: (in millions) 2022 2021 2020 Balance, beginning of year $ 194 $ 193 $ 152 Additions based on tax positions related to the current year 53 34 28 Additions for tax positions of prior years 65 16 10 Additions for tax positions of acquired subsidiaries — 12 3 Reductions for tax positions due to lapse of statutes of limitations (43) (17) — Settlements — (43) — Foreign currency exchange movement — (1) — Balance, end of year $ 269 $ 194 $ 193 |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 consolidated statements of financial position as of December 31: (in millions) 2022 2021 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 $ 1 $ — $ 51 $ — Other noncurrent assets 1 — 15 — Accrued expenses and other current liabilities — 53 — — Other noncurrent liabilities — 17 — — Total 2 70 66 — Foreign exchange forward contracts - Not designated as hedging instruments Other current assets 4 — 3 — Accrued expenses and other current liabilities — 5 — 7 Total 4 5 3 7 Total $ 6 $ 75 $ 69 $ 7 |
Notional Value Of Outstanding Cash Flow Hedge Contracts By Year Of Maturity And Net Unrealized (Loss) Gain Included In Accumulated Other Comprehensive Income (Loss) | The notional value of our outstanding contracts by year of maturity was as follows as of December 31: (in millions) 2022 2021 2022 $ — $ 1,643 2023 1,865 880 2024 1,010 — Total notional value of contracts outstanding (1) $ 2,875 $ 2,523 (1) Includes $78 million notional value of option contracts as of December 31, 2021, with the remaining notional value related to forward contracts. There were no option contracts outstanding as of December 31, 2022. |
Location And Amounts Of Pre-Tax Gains (Losses) On Cash Flow Hedge Derivative Financial Instruments | The following table provides information on the location and amounts of pre-tax losses and gains on our cash flow hedges for the year ended December 31: (in millions) Change in Location of Net (Losses) and Net (Losses) and Gains Reclassified 2022 2021 2022 2021 Foreign exchange forward and option contracts – Designated as cash flow hedging instruments $ (153) $ 67 Cost of revenues $ (13) $ 55 SG&A expenses (1) 8 Total $ (14) $ 63 |
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 as of December 31: (in millions) 2022 2021 Notional Fair Value Notional Fair Value Contracts outstanding $ 1,433 $ (1) $ 847 $ (4) The following table provides information on the location and amounts of realized and unrealized pre-tax gains on our other derivative financial instruments for the year ended December 31: (in millions) Location of Net Gains Amount of Net Gains 2022 2021 Foreign exchange forward contracts - Not designated as hedging instruments Foreign currency exchange gains (losses), net $ 23 $ 13 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Fair Value Disclosures [Abstract] | |
Financial Assets And (Liabilities) Measured At Fair Value On A Recurring Basis | The following table summarizes the financial assets and (liabilities) measured at fair value on a recurring basis as of December 31, 2022: (in millions) Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 367 $ — $ — $ 367 Time deposits — 359 — 359 Commercial paper — 512 — 512 Short-term investments: Time deposits — 51 — 51 Equity investment security 10 — — 10 Available-for-sale investment securities: Certificates of deposit and commercial paper — 225 — 225 Other current assets Foreign exchange forward contracts — 5 — 5 Long-term investments: Restricted time deposits (1) — 357 — 357 Other noncurrent assets Foreign exchange forward contracts — 1 — 1 Accrued expenses and other current liabilities: Foreign exchange forward contracts — (58) — (58) Contingent consideration liabilities — — (9) (9) Other noncurrent liabilities Foreign exchange forward contracts — (17) — (17) Contingent consideration liabilities — — (13) (13) (1) See Note 11 . The following table summarizes the financial assets and (liabilities) measured at fair value on a recurring basis as of December 31, 2021: (in millions) Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 507 $ — $ — $ 507 Time deposits — 4 — 4 Commercial paper — 266 — 266 Short-term investments: Time deposits — 554 — 554 Equity investment security 26 — — 26 Available-for-sale investment securities: Commercial paper — 310 — 310 Other current assets: Foreign exchange forward and option contracts — 54 — 54 Long-term investments Restricted time deposits (1) — 397 — 397 Other noncurrent assets: Foreign exchange forward contracts — 15 — 15 Accrued expenses and other current liabilities: Foreign exchange forward contracts — (7) — (7) Contingent consideration liabilities — — (14) (14) Other noncurrent liabilities: Contingent consideration liabilities — — (21) (21) (1) See Note 11 |
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings | The following table summarizes the changes in Level 3 contingent consideration liabilities: (in millions) 2022 2021 Beginning balance $ 35 $ 54 Initial measurement recognized at acquisition 1 24 Change in fair value recognized in SG&A expenses (1) (30) Payments and other adjustments (13) (13) Ending balance $ 22 $ 35 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Equity [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Changes in "Accumulated other comprehensive income (loss)" by component were as follows for the year ended December 31, 2022: 2022 (in millions) Before Tax Tax Net of Tax Foreign currency translation adjustments: Beginning balance $ (22) $ 2 $ (20) Change in foreign currency translation adjustments (234) 6 (228) Ending balance $ (256) $ 8 $ (248) Unrealized gains (losses) on cash flow hedges: Beginning balance $ 71 $ (14) $ 57 Unrealized losses arising during the period (153) 34 (119) Reclassifications of net losses to: Cost of revenues 13 (3) 10 SG&A expenses 1 — 1 Net change (139) 31 (108) Ending balance $ (68) $ 17 $ (51) Accumulated other comprehensive income (loss): Beginning balance $ 49 $ (12) $ 37 Other comprehensive income (loss) (373) 37 (336) Ending balance $ (324) $ 25 $ (299) Changes in "Accumulated other comprehensive income (loss)" by component were as follows for the years ended December 31, 2021 and 2020: 2021 2020 (in millions) Before Tax Tax Net of Tax Before Tax Tax Net of Tax Foreign currency translation adjustments: Beginning balance $ 56 $ (1) $ 55 $ (63) $ (1) $ (64) Change in foreign currency translation adjustments (78) 3 (75) 119 — 119 Ending balance $ (22) $ 2 $ (20) $ 56 $ (1) $ 55 Unrealized gains on cash flow hedges: Beginning balance $ 67 $ (12) $ 55 $ 31 $ (5) $ 26 Unrealized gains arising during the period 67 (13) 54 39 (8) 31 Reclassifications of net (gains) to: Cost of revenues (55) 10 (45) (3) 1 (2) SG&A expenses (8) 1 (7) — — — Net change 4 (2) 2 36 (7) 29 Ending balance $ 71 $ (14) $ 57 $ 67 $ (12) $ 55 Accumulated other comprehensive income (loss): Beginning balance $ 123 $ (13) $ 110 $ (32) $ (6) $ (38) Other comprehensive income (loss) (74) 1 (73) 155 (7) 148 Ending balance $ 49 $ (12) $ 37 $ 123 $ (13) $ 110 |
Stock-Based Compensation Plans
Stock-Based Compensation Plans (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Share-Based Payment Arrangement, Noncash Expense [Abstract] | |
Schedule Of Allocation Of Total Stock-Based Compensation Expense | The allocation of total stock-based compensation expense between cost of revenues and selling, general and administrative expenses as well as the related income tax benefit were as follows for the three years ended December 31: (in millions) 2022 2021 2020 Cost of revenues $ 33 $ 49 $ 51 SG&A expenses 228 197 181 Total stock-based compensation expense $ 261 $ 246 $ 232 Income tax benefit $ 59 $ 59 $ 48 |
Summary Of The Activity For Restricted Stock Units | A summary of the activity for RSUs granted under our stock-based compensation plans as of December 31, 2022 and changes during the year then ended is presented below: Number of Weighted Average Unvested at January 1, 2022 3.9 $ 70.11 Granted 3.1 78.20 Vested (2.9) 72.19 Forfeited (0.7) 76.07 Unvested at December 31, 2022 3.4 $ 74.54 |
Summary Of The Activity For Performance Stock Units | The presentation reflects the number of PSUs at the maximum performance milestones. Number of Weighted Average Unvested at January 1, 2022 2.3 $ 67.55 Granted 1.0 90.92 Vested (0.1) 60.37 Forfeited (0.4) 75.83 Adjustment at the conclusion of the performance measurement period (0.4) 63.88 Unvested at December 31, 2022 2.4 $ 76.93 |
Schedule Of Assumptions Used To Calculate The Fair Value Of Option Grants | The fair values of the options granted under the Purchase Plan were estimated at the date of grant during the years ended December 31, 2021 and 2020 based upon the following assumptions, and were as follows: 2021 2020 Dividend yield 1.3 % 1.1 % Weighted average volatility factor 27.5 % 35.9 % Weighted average risk-free interest rate 0.03 % 0.6 % Weighted average expected life (in years) 0.25 0.25 Weighted average grant date fair value $ 11.72 $ 9.38 |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Segment Reporting Information, Revenue for Reportable Segment [Abstract] | |
Segment Operating Profit | Segment operating profits by reportable business segment were as follows: (in millions) 2022 2021 2020 Financial Services $ 1,771 $ 1,707 $ 1,419 Health Sciences 1,515 1,527 1,357 Products and Resources 1,448 1,301 1,058 Communications, Media and Technology 1,012 925 780 Total segment operating profit 5,746 5,460 4,614 Less: unallocated costs 2,778 2,634 2,500 Income from operations $ 2,968 $ 2,826 $ 2,114 |
Long-Lived Assets By Geographic Area | Long-lived assets by geographic area are as follows: (in millions) 2022 2021 2020 Long-lived Assets: (1) North America (2) $ 354 $ 377 $ 399 Europe 86 75 88 Rest of World (3) 661 719 764 Total $ 1,101 $ 1,171 $ 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. |
Business Description and Summ_3
Business Description and Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) shares in Thousands, $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Assets | $ 17,852 | $ 17,852 | |
Share-based Payment Arrangement [Member] | Maximum [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of earnings per share - less than | 1,000 | 1,000 | 1,000 |
Business Description and Summ_4
Business Description and Summary of Significant Accounting Policies Change in Accounting Policy of Correction of an Error (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Liabilities | $ 5,543 | $ 5,861 | |
Retained earnings | 12,588 | 11,922 | |
Trade accounts receivable, net | 3,796 | 3,557 | |
Assets | $ 17,852 | $ 17,852 | |
Cumulative Effect, Period of Adoption, Adjustment [Member] | Trade Accounts Receivable [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Trade accounts receivable, net | $ 1 | ||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Retained Earnings [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Retained earnings | $ 1 |
Revenues Disaggregation of Reve
Revenues Disaggregation of Revenue (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disaggregation of Revenue [Line Items] | |||
Revenues | $ 19,428 | $ 18,507 | $ 16,652 |
Time-and-materials Contract [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 9,179 | 9,140 | 8,561 |
Fixed-price Contract [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 8,299 | 7,337 | 6,125 |
Transaction Or Volume-Based [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 1,950 | 2,030 | 1,966 |
North America [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 14,435 | 13,636 | 12,581 |
United Kingdom [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 1,810 | 1,642 | 1,335 |
Europe, excluding United Kingdom [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 1,795 | 1,919 | 1,653 |
Europe [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 3,605 | 3,561 | 2,988 |
Rest of World [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 1,388 | 1,310 | 1,083 |
Consulting And Technology Services [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 12,225 | 11,587 | 10,182 |
Outsourcing Services [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 7,203 | 6,920 | 6,470 |
Financial Services | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 6,072 | 6,051 | 5,621 |
Financial Services | Time-and-materials Contract [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 3,516 | 3,613 | 3,548 |
Financial Services | Fixed-price Contract [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 2,265 | 2,063 | 1,736 |
Financial Services | Transaction Or Volume-Based [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 291 | 375 | 337 |
Financial Services | North America [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 4,312 | 4,204 | 4,013 |
Financial Services | United Kingdom [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 599 | 547 | 463 |
Financial Services | Europe, excluding United Kingdom [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 590 | 745 | 629 |
Financial Services | Europe [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 1,189 | 1,292 | 1,092 |
Financial Services | Rest of World [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 571 | 555 | 516 |
Financial Services | Consulting And Technology Services [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 4,207 | 4,079 | 3,691 |
Financial Services | Outsourcing Services [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 1,865 | 1,972 | 1,930 |
Health Sciences | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 5,631 | 5,337 | 4,852 |
Health Sciences | Time-and-materials Contract [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 2,010 | 2,063 | 1,950 |
Health Sciences | Fixed-price Contract [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 2,471 | 2,157 | 1,777 |
Health Sciences | Transaction Or Volume-Based [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 1,150 | 1,117 | 1,125 |
Health Sciences | North America [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 4,853 | 4,571 | 4,181 |
Health Sciences | United Kingdom [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 171 | 168 | 157 |
Health Sciences | Europe, excluding United Kingdom [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 483 | 477 | 434 |
Health Sciences | Europe [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 654 | 645 | 591 |
Health Sciences | Rest of World [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 124 | 121 | 80 |
Health Sciences | Consulting And Technology Services [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 3,226 | 3,090 | 2,786 |
Health Sciences | Outsourcing Services [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 2,405 | 2,247 | 2,066 |
Products and Resources | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 4,566 | 4,276 | 3,696 |
Products and Resources | Time-and-materials Contract [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 1,856 | 1,785 | 1,548 |
Products and Resources | Fixed-price Contract [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 2,357 | 2,085 | 1,741 |
Products and Resources | Transaction Or Volume-Based [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 353 | 406 | 407 |
Products and Resources | North America [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 3,078 | 2,937 | 2,650 |
Products and Resources | United Kingdom [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 521 | 471 | 371 |
Products and Resources | Europe, excluding United Kingdom [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 585 | 539 | 413 |
Products and Resources | Europe [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 1,106 | 1,010 | 784 |
Products and Resources | Rest of World [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 382 | 329 | 262 |
Products and Resources | Consulting And Technology Services [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 3,017 | 2,725 | 2,249 |
Products and Resources | Outsourcing Services [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 1,549 | 1,551 | 1,447 |
Communication, Media and Technology [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 3,159 | 2,843 | 2,483 |
Communication, Media and Technology [Member] | Time-and-materials Contract [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 1,797 | 1,679 | 1,515 |
Communication, Media and Technology [Member] | Fixed-price Contract [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 1,206 | 1,032 | 871 |
Communication, Media and Technology [Member] | Transaction Or Volume-Based [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 156 | 132 | 97 |
Communication, Media and Technology [Member] | North America [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 2,192 | 1,924 | 1,737 |
Communication, Media and Technology [Member] | United Kingdom [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 519 | 456 | 344 |
Communication, Media and Technology [Member] | Europe, excluding United Kingdom [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 137 | 158 | 177 |
Communication, Media and Technology [Member] | Europe [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 656 | 614 | 521 |
Communication, Media and Technology [Member] | Rest of World [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 311 | 305 | 225 |
Communication, Media and Technology [Member] | Consulting And Technology Services [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 1,775 | 1,693 | 1,456 |
Communication, Media and Technology [Member] | Outsourcing Services [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | $ 1,384 | $ 1,150 | $ 1,027 |
Revenues (Details)
Revenues (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2020 USD ($) | |
Disaggregation of Revenue [Line Items] | |
Reduction to additional expenses due to proposed exit | $ 33 |
Consulting And Technology Services [Member] | Europe, excluding United Kingdom [Member] | Fixed-price Contract [Member] | Financial Services | |
Disaggregation of Revenue [Line Items] | |
Reduction in revenue due to proposed exit | $ 118 |
Revenues Capitalized Costs to F
Revenues Capitalized Costs to Fulfill Contract with Customer (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Revenues [Abstract] | ||
Beginning Balance | $ 394 | $ 467 |
Costs Capitalized | 39 | 56 |
Amortization expense | 109 | 118 |
Capitalized Contract Cost, Impairment Loss | (59) | (11) |
Ending Balance | $ 265 | $ 394 |
Revenues Significant Movements
Revenues Significant Movements in Contract Assets (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Revenues [Abstract] | ||
Beginning Balance | $ 310 | $ 315 |
Revenues recognized during the period but not billed | 308 | 275 |
Amounts reclassified to accounts receivable | 285 | 280 |
Ending Balance | 326 | 310 |
Contract With Customer, Asset, Foreign Currency Translation | $ (7) | $ 0 |
Revenues Significant Movement_2
Revenues Significant Movements in Deferred Revenue Balances (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Revenues [Abstract] | ||
Beginning Balane | $ 443 | $ 419 |
Amounts billed but not recognized as revenues | 397 | 413 |
Revenues recognized related to the beginning balance of deferred revenue | 416 | 389 |
Ending Balance | 417 | 443 |
Contract With Customer, Liability, Foreign Currency Translation | $ (7) | $ 0 |
Revenues Remaining Performance
Revenues Remaining Performance Obligations Narrative (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Revenues [Abstract] | |
Revenue, Remaining Performance Obligation | $ 3,361 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | Period One | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, Remaining Performance Obligation, Percentage | 55% |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 2 years |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | Period Two | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, Remaining Performance Obligation, Percentage | 75% |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 5 years |
Revenues Trade Accounts Receiva
Revenues Trade Accounts Receivable and Allowance for Doubtful Accounts (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Beginning Balance | $ 50 | $ 57 | $ 67 |
Provision for expected credit losses | 9 | 6 | 8 |
Write-offs charged against the allowance | (16) | (13) | (17) |
Ending Balance | $ 43 | $ 50 | 57 |
Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Beginning Balance | $ (1) |
Business Combinations (Narrativ
Business Combinations (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2022 | |
Business Combinations [Abstract] | ||
Revenue from acquisitions | $ 301 | |
Business Acquisition [Line Items] | ||
Revenue from acquisitions | $ 301 | |
AustinCSI | ||
Business Combinations [Abstract] | ||
Business Acquisition, Percentage of Voting Interests Acquired | 100% | |
Business Acquisition [Line Items] | ||
Business Acquisition, Percentage of Voting Interests Acquired | 100% | |
Utegration | ||
Business Combinations [Abstract] | ||
Business Acquisition, Percentage of Voting Interests Acquired | 100% | |
Business Acquisition [Line Items] | ||
Business Acquisition, Percentage of Voting Interests Acquired | 100% | |
Linium [Member] | ||
Business Combinations [Abstract] | ||
Business Acquisition, Percentage of Voting Interests Acquired | 100% | |
Business Acquisition [Line Items] | ||
Business Acquisition, Percentage of Voting Interests Acquired | 100% | |
Magenic [Member] | ||
Business Combinations [Abstract] | ||
Business Acquisition, Percentage of Voting Interests Acquired | 100% | |
Business Acquisition [Line Items] | ||
Business Acquisition, Percentage of Voting Interests Acquired | 100% | |
Servian [Member] | ||
Business Combinations [Abstract] | ||
Business Acquisition, Percentage of Voting Interests Acquired | 100% | |
Business Acquisition [Line Items] | ||
Business Acquisition, Percentage of Voting Interests Acquired | 100% | |
ESG Mobility | ||
Business Combinations [Abstract] | ||
Business Acquisition, Percentage of Voting Interests Acquired | 100% | |
Business Acquisition [Line Items] | ||
Business Acquisition, Percentage of Voting Interests Acquired | 100% | |
TQS | ||
Business Combinations [Abstract] | ||
Business Acquisition, Percentage of Voting Interests Acquired | 100% | |
Business Acquisition [Line Items] | ||
Business Acquisition, Percentage of Voting Interests Acquired | 100% | |
Hunter | ||
Business Combinations [Abstract] | ||
Business Acquisition, Percentage of Voting Interests Acquired | 100% | |
Business Acquisition [Line Items] | ||
Business Acquisition, Percentage of Voting Interests Acquired | 100% | |
Devbridge | ||
Business Combinations [Abstract] | ||
Business Acquisition, Percentage of Voting Interests Acquired | 100% | |
Business Acquisition [Line Items] | ||
Business Acquisition, Percentage of Voting Interests Acquired | 100% |
Business Combinations Allocatio
Business Combinations Allocation of Purchase Price (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Business Acquisition [Line Items] | ||
Cash | $ 5 | $ 54 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | 30 | 91 |
Property, plant and equipment and other noncurrent assets | 19 | 28 |
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed. Operating Lease Right Of Use Asset | 54 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Non-Deductible Goodwill | 23 | 279 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Tax-Deductible Goodwill | 170 | 368 |
Current liabilities | (20) | (83) |
Noncurrent liabilities | (5) | (117) |
Purchase price | 375 | 1,049 |
Customer relationships | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | $ 152 | $ 372 |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 11 years 1 month 6 days | 9 years 9 months 18 days |
Other Intangible Assets [Member] | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | $ 1 | $ 3 |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 3 years 1 month 6 days | 3 years 9 months 18 days |
Devbridge | ||
Business Acquisition [Line Items] | ||
Cash | $ 7 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | 12 | |
Property, plant and equipment and other noncurrent assets | 5 | |
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed. Operating Lease Right Of Use Asset | 11 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Non-Deductible Goodwill | 41 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Tax-Deductible Goodwill | 140 | |
Current liabilities | (11) | |
Noncurrent liabilities | (9) | |
Purchase price | 268 | |
Devbridge | Customer relationships | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | 72 | |
Devbridge | Other Intangible Assets [Member] | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | 0 | |
Servian [Member] | ||
Business Acquisition [Line Items] | ||
Cash | 4 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | 15 | |
Property, plant and equipment and other noncurrent assets | 6 | |
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed. Operating Lease Right Of Use Asset | 5 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Non-Deductible Goodwill | 184 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Tax-Deductible Goodwill | 0 | |
Current liabilities | (12) | |
Noncurrent liabilities | (29) | |
Purchase price | 252 | |
Servian [Member] | Customer relationships | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | 77 | |
Servian [Member] | Other Intangible Assets [Member] | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | 2 | |
Magenic [Member] | ||
Business Acquisition [Line Items] | ||
Cash | 13 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | 17 | |
Property, plant and equipment and other noncurrent assets | 4 | |
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed. Operating Lease Right Of Use Asset | 10 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Non-Deductible Goodwill | 10 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Tax-Deductible Goodwill | 137 | |
Current liabilities | (29) | |
Noncurrent liabilities | (7) | |
Purchase price | 246 | |
Magenic [Member] | Customer relationships | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | 90 | |
Magenic [Member] | Other Intangible Assets [Member] | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | 1 | |
ESG Mobility | ||
Business Acquisition [Line Items] | ||
Cash | 28 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | 30 | |
Property, plant and equipment and other noncurrent assets | 8 | |
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed. Operating Lease Right Of Use Asset | 27 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Non-Deductible Goodwill | 26 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Tax-Deductible Goodwill | 24 | |
Current liabilities | (22) | |
Noncurrent liabilities | (66) | |
Purchase price | 132 | |
ESG Mobility | Customer relationships | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | 77 | |
ESG Mobility | Other Intangible Assets [Member] | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | 0 | |
Linium [Member] | ||
Business Acquisition [Line Items] | ||
Cash | 0 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | 5 | |
Property, plant and equipment and other noncurrent assets | 1 | |
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed. Operating Lease Right Of Use Asset | 0 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Non-Deductible Goodwill | 0 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Tax-Deductible Goodwill | 57 | |
Current liabilities | (2) | |
Noncurrent liabilities | 0 | |
Purchase price | 85 | |
Linium [Member] | Customer relationships | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | 24 | |
Linium [Member] | Other Intangible Assets [Member] | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | 0 | |
Acquisitions | ||
Business Acquisition [Line Items] | ||
Cash | 2 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | 12 | |
Property, plant and equipment and other noncurrent assets | 4 | |
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed. Operating Lease Right Of Use Asset | 1 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Non-Deductible Goodwill | 18 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Tax-Deductible Goodwill | 10 | |
Current liabilities | (7) | |
Noncurrent liabilities | (6) | |
Purchase price | 66 | |
Acquisitions | Customer relationships | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | 32 | |
Acquisitions | Other Intangible Assets [Member] | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | $ 0 | |
AustinCSI | ||
Business Acquisition [Line Items] | ||
Cash | $ 0 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | 9 | |
Property, plant and equipment and other noncurrent assets | 4 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Non-Deductible Goodwill | 0 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Tax-Deductible Goodwill | 83 | |
Current liabilities | (3) | |
Noncurrent liabilities | (1) | |
Purchase price | 161 | |
AustinCSI | Customer relationships | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | 69 | |
AustinCSI | Other Intangible Assets [Member] | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | 0 | |
Utegration | ||
Business Acquisition [Line Items] | ||
Cash | 5 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | 21 | |
Property, plant and equipment and other noncurrent assets | 15 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Non-Deductible Goodwill | 23 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Tax-Deductible Goodwill | 87 | |
Current liabilities | (17) | |
Noncurrent liabilities | (4) | |
Purchase price | 214 | |
Utegration | Customer relationships | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | 83 | |
Utegration | Other Intangible Assets [Member] | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired | $ 1 |
Restructuring Charges (Details)
Restructuring Charges (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges | $ 0 | $ 0 | $ 215 |
Employee separation costs | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Reserve, Current | $ 0 | ||
Realignment Program [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges | 42 | ||
2020 Fit for Growth [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges | $ 173 |
Investments Short-term and Long
Investments Short-term and Long-term investments (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Marketable Securities [Line Items] | ||
Short-term Investments | $ 310 | $ 927 |
Long-term investments | 427 | 463 |
Equity Method Investments | 68 | 63 |
Proceeds from Sale of Debt and Equity Securities, FV-NI, Held-for-investment | 15 | |
Short-term Investments [Member] | ||
Marketable Securities [Line Items] | ||
Debt Securities, Held-to-maturity, Current | 24 | 37 |
Debt Securities, Time Deposits | 51 | 554 |
Equity Securities, FV-NI, Current | 10 | 26 |
Debt Securities, Available-for-sale | 225 | 310 |
Long-term investments [Member] | ||
Marketable Securities [Line Items] | ||
Equity and Cost Method Investments | 66 | |
Restricted Investments | 357 | $ 397 |
Equity Method Investments | $ 70 |
Investments Available-for-sale
Investments Available-for-sale securities - proceeds from sales, gross gains and losses (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Debt Securities, Available-for-Sale, Realized Gain (Loss) [Abstract] | |||
Debt Securities, Available-for-sale, Amortized Cost | $ 225,000,000 | $ 310,000,000 | |
Debt Securities, Available-for-sale, Realized Gain (Loss), Total | 0 | 0 | |
Proceeds from Sale of Debt Securities, Available-for-sale | $ 0 | $ 0 | $ 0 |
Investments Held-to-maturity se
Investments Held-to-maturity securities - amortized cost, gross unrealized gains and losses and fair value (Details) - Short-term Investments [Member] - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Commercial Paper [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity, Current | $ 12 | $ 20 |
Fair Value | 12 | 20 |
Corporate Debt Securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity, Current | 12 | 17 |
Fair Value | $ 12 | $ 17 |
Investments Held-to-maturity _2
Investments Held-to-maturity securities in a continuous unrealized loss position (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Fair value, 12 months or more | $ 0 | $ 0 |
Maximum [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Total unrealized losses | (1) | (1) |
Commercial Paper [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Fair value, less than 12 months | 12 | 10 |
Corporate Debt Securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Fair value, less than 12 months | $ 12 | $ 17 |
Investments Equity Method Inves
Investments Equity Method Investments (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Equity Method Investment, Financial Statement, Reported Amounts [Abstract] | ||
Equity Method Investments | $ 68 | $ 63 |
Equity Securities without Readily Determinable Fair Value, Amount | $ 2 | $ 3 |
Property and Equipment, net (Na
Property and Equipment, net (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Finance Lease, Right-of-Use, before Accumulated Amortization | $ 17 | $ 24 | |
Finance Lease, Right-of-Use Asset, Accumulated Amortization | 9 | 17 | |
Finance Lease, Right-of-Use Asset, Amortization | 4 | 7 | $ 7 |
Capitalized Software Development Costs for Software Sold to Customers | 241 | 201 | |
Capitalized Computer Software, Accumulated Amortization | 143 | 106 | |
Capitalized Computer Software, Amortization | 37 | 33 | 30 |
Property, Plant and Equipment [Member] | |||
Depreciation | $ 385 | $ 392 | $ 407 |
Property and Equipment, net (Sc
Property and Equipment, net (Schedule Of Property And Equipment, Net) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Property, Plant and Equipment [Line Items] | |||
Property and Equipment, gross | $ 3,817 | $ 3,667 | |
Accumulated depreciation and amortization | (2,716) | (2,496) | |
Property and equipment, net | 1,101 | 1,171 | $ 1,251 |
Finance Lease, Right-of-Use Asset, Accumulated Amortization | 9 | 17 | |
Finance Lease, Right-of-Use Asset, Amortization | 4 | 7 | 7 |
Capitalized Computer Software, Amortization | $ 37 | 33 | $ 30 |
Buildings [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated Useful Lives | 30 years | ||
Property and Equipment, gross | $ 771 | 777 | |
Computer Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and Equipment, gross | $ 729 | 638 | |
Computer Equipment [Member] | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated Useful Lives | 3 years | ||
Computer Equipment [Member] | Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated Useful Lives | 5 years | ||
Computer Software [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and Equipment, gross | $ 1,033 | 926 | |
Computer Software [Member] | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated Useful Lives | 3 years | ||
Computer Software [Member] | Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated Useful Lives | 8 years | ||
Furniture and Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and Equipment, gross | $ 768 | 772 | |
Furniture and Equipment [Member] | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated Useful Lives | 5 years | ||
Furniture and Equipment [Member] | Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated Useful Lives | 9 years | ||
Land [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and Equipment, gross | $ 7 | 7 | |
Capital Work-in-Progress [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and Equipment, gross | 111 | 116 | |
Leasehold Improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and Equipment, gross | $ 398 | $ 431 |
Leases Schedule of Leases State
Leases Schedule of Leases Statement of Financial Position (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Assets | ||
Operating lease assets, net | $ 876 | $ 933 |
Property and equipment, net | Property and equipment, net | Property and equipment, net |
ROU finance lease assets | $ 8 | $ 7 |
Total leased assets | 884 | 940 |
Current | ||
Operating lease liabilities | $ 174 | $ 195 |
Accrued expenses and other current liabilities | Accrued expenses and other current liabilities | Accrued expenses and other current liabilities |
Finance lease | $ 5 | $ 8 |
Noncurrent | ||
Operating lease liabilities, noncurrent | $ 714 | $ 783 |
Other noncurrent liabilities | Other Liabilities, Noncurrent | Other Liabilities, Noncurrent |
Finance lease | $ 8 | $ 5 |
Total leased liabilities | $ 901 | $ 991 |
Leases (Details)
Leases (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Leases [Abstract] | |||
Operating lease cost | $ 256 | $ 293 | $ 302 |
Variable lease cost | 17 | 10 | 14 |
Short term lease rental expense | $ 21 | $ 22 | $ 20 |
Leases Schedule of Operating Le
Leases Schedule of Operating Lease Term and Discount Rate (Details) | Dec. 31, 2022 | Dec. 31, 2021 |
Leases [Abstract] | ||
Weighted average remaining lease term | 6 years 2 months 12 days | 6 years 6 months |
Weighted average discount rate | 5.40% | 5.40% |
Leases Schedule of Cash Flow an
Leases Schedule of Cash Flow and Other Information (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Leases [Abstract] | |||
Cash paid for amounts included in the measurement of operating lease liabilities | $ 241 | $ 274 | $ 271 |
ROU assets obtained in exchange for operating lease liabilities | $ 164 | $ 100 | $ 273 |
Leases Schedule of Future minim
Leases Schedule of Future minimum Payments on Operating Leases (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Leases [Abstract] | |
2023 | $ 215 |
2024 | 180 |
2025 | 155 |
2026 | 129 |
2027 | 108 |
Thereafter | 267 |
Total operating lease payments | 1,054 |
Interest | (166) |
Total operating lease liabilities | $ 888 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets, net (Schedule Of Goodwill Allocation By Reportable Segments) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | $ 5,620 | $ 5,031 |
Additions and adjustments | 193 | 638 |
Foreign currency translation adjustments | (103) | (49) |
Goodwill, Ending Balance | 5,710 | 5,620 |
Financial Services | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 1,109 | 932 |
Additions and adjustments | 5 | 198 |
Foreign currency translation adjustments | (41) | (21) |
Goodwill, Ending Balance | 1,073 | 1,109 |
Health Sciences | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 2,831 | 2,755 |
Additions and adjustments | 2 | 84 |
Foreign currency translation adjustments | (14) | (8) |
Goodwill, Ending Balance | 2,819 | 2,831 |
Products and Resources | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 967 | 780 |
Additions and adjustments | 127 | 200 |
Foreign currency translation adjustments | (32) | (13) |
Goodwill, Ending Balance | 1,062 | 967 |
Communications, Media and Technology | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 713 | 564 |
Additions and adjustments | 59 | 156 |
Foreign currency translation adjustments | (16) | (7) |
Goodwill, Ending Balance | $ 756 | $ 713 |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets, net (Schedule Of Components For Intangible Assets) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Finite-Lived Intangible Assets [Line Items] | |||
Accumulated amortization | $ (1,171) | $ (999) | |
Indefinite lived trademarks | 72 | 72 | |
Intangible Assets, Gross (Excluding Goodwill) | 2,339 | 2,217 | |
Intangible assets, net | 1,168 | 1,218 | |
Amortization of intangibles | 184 | 182 | $ 152 |
Customer relationships | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross carrying amount | 1,803 | 1,679 | |
Accumulated amortization | (738) | (610) | |
Net carrying amount | 1,065 | 1,069 | |
Developed technology | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross carrying amount | 383 | 385 | |
Accumulated amortization | (369) | (330) | |
Net carrying amount | 14 | 55 | |
Finite lived trademarks and other | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross carrying amount | 81 | 81 | |
Accumulated amortization | (64) | (59) | |
Net carrying amount | $ 17 | $ 22 |
Goodwill and Intangible Asset_5
Goodwill and Intangible Assets, net (Schedule Of Estimated Amortization Expense) (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
2023 | $ 155 |
2024 | 150 |
2025 | 147 |
2026 | 144 |
2027 | $ 136 |
Accrued Expenses and Other Cu_3
Accrued Expenses and Other Current Liabilities (Accrued Expenses And Other Current Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Accrued Expenses And Other Current Liabilities [Abstract] | ||
Compensation and benefits | $ 1,446 | $ 1,601 |
Customer volume and other incentives | 222 | 242 |
Income taxes | 217 | 74 |
Professional fees | 165 | 220 |
Other | 357 | 395 |
Accrued expenses and other current liabilities | $ 2,407 | $ 2,532 |
Debt (Details)
Debt (Details) $ in Millions, ₨ in Billions | 3 Months Ended | |||
Dec. 31, 2022 USD ($) | Dec. 31, 2022 INR (₨) | Oct. 06, 2022 USD ($) | Nov. 30, 2018 USD ($) | |
Credit Agreement [Member] | Term Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Principal amount of debt | $ 750 | |||
New Credit Agreement | Term Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Principal amount of debt | $ 650 | |||
Base Rate [Member] | New Credit Agreement | ||||
Debt Instrument [Line Items] | ||||
Debt instrument, basis spread on variable rate | 0% | |||
Term Benchmark | New Credit Agreement | ||||
Debt Instrument [Line Items] | ||||
Debt instrument, basis spread on variable rate | 0.875% | |||
Minimum [Member] | Term Benchmark | New Credit Agreement | ||||
Debt Instrument [Line Items] | ||||
Debt instrument, basis spread on variable rate | 0.75% | |||
Minimum [Member] | Term Benchmark Without Debt Ratings | New Credit Agreement | ||||
Debt Instrument [Line Items] | ||||
Debt instrument, basis spread on variable rate | 0.875% | |||
Maximum [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt instrument, covenant compliance, leverage ratio | 3.50 | |||
Debt Instrument, Covenant Compliance, Leverage Ratio Following Material Acquisition(s) | 3.75 | |||
Maximum [Member] | Term Benchmark | New Credit Agreement | ||||
Debt Instrument [Line Items] | ||||
Debt instrument, basis spread on variable rate | 1.125% | |||
Maximum [Member] | Term Benchmark Without Debt Ratings | New Credit Agreement | ||||
Debt Instrument [Line Items] | ||||
Debt instrument, basis spread on variable rate | 1.125% | |||
Revolving Credit Facility [Member] | Credit Agreement [Member] | Unsecured Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Line of credit, maximum borrowing capacity | $ 1,750 | |||
Revolving Credit Facility [Member] | New Credit Agreement | Unsecured Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Line of credit, maximum borrowing capacity | $ 1,850 | |||
Working Capital Facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Line of credit, maximum borrowing capacity | $ 157 | ₨ 13 |
Debt (Short-Term Debt (Details)
Debt (Short-Term Debt (Details) - Term Loan [Member] - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Credit Agreement [Member] | ||
Short-term Debt [Line Items] | ||
Term Loan - Current Maturities | $ 38 | |
Weighted average interest rate | 1% | |
New Credit Agreement | ||
Short-term Debt [Line Items] | ||
Term Loan - Current Maturities | $ 8 | |
Weighted average interest rate | 5.20% |
Debt (Long-Term Debt) (Details)
Debt (Long-Term Debt) (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Debt Instrument [Line Items] | ||
Long-term debt, net of current maturities | $ 638 | $ 626 |
Credit Agreement [Member] | ||
Debt Instrument [Line Items] | ||
Debt Issuance Costs, Net | (2) | |
New Credit Agreement | ||
Debt Instrument [Line Items] | ||
Debt Issuance Costs, Net | (4) | |
Term Loan [Member] | Credit Agreement [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt | 666 | |
Less: Current portion | $ (38) | |
Term Loan [Member] | New Credit Agreement | ||
Debt Instrument [Line Items] | ||
Long-term debt | 650 | |
Less: Current portion | $ (8) |
Debt (Debt Maturities) (Details
Debt (Debt Maturities) (Details) - Term Loan [Member] - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Credit Agreement [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt | $ 666 | |
New Credit Agreement | ||
Debt Instrument [Line Items] | ||
2023 | $ 8 | |
2024 | 33 | |
2025 | 33 | |
2026 | 33 | |
2027 | 543 | |
Long-term debt | $ 650 |
Income Taxes (Schedule Of Incom
Income Taxes (Schedule Of Income Before Provision For Income Tax) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |||
United States | $ 975 | $ 818 | $ 814 |
Foreign | 2,041 | 2,009 | 1,282 |
Income before provision for income taxes | $ 3,016 | $ 2,827 | $ 2,096 |
Income Taxes (Schedule Of Compo
Income Taxes (Schedule Of Components Of Provision For Income Taxes) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Current: | |||
Federal and state | $ 492 | $ 210 | $ 137 |
Foreign | 511 | 456 | 383 |
Total current provision | 1,003 | 666 | 520 |
Deferred: | |||
Federal and state | (240) | (50) | (77) |
Foreign | (33) | 77 | 261 |
Total deferred (benefit) provision | (273) | 27 | 184 |
Total provision for income taxes | $ 730 | $ 693 | $ 704 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) $ / shares in Units, $ in Millions, ₨ in Billions | 3 Months Ended | 12 Months Ended | ||||||||||
Sep. 30, 2022 USD ($) | Mar. 31, 2021 USD ($) | Sep. 30, 2020 USD ($) | Dec. 31, 2022 USD ($) $ / shares | Dec. 31, 2021 USD ($) $ / shares | Dec. 31, 2020 USD ($) $ / shares | Dec. 31, 2016 USD ($) | Dec. 31, 2013 USD ($) | Dec. 31, 2022 INR (₨) | Dec. 31, 2019 USD ($) | Apr. 30, 2018 INR (₨) | Mar. 31, 2018 INR (₨) | |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | ||||||||||||
Income Tax Expense (Benefit) | $ 730 | $ 693 | $ 704 | |||||||||
Income tax holiday, increase in net income | $ 6 | $ 36 | $ 48 | |||||||||
Increase in diluted EPS | $ / shares | $ 0.01 | $ 0.07 | $ 0.09 | |||||||||
Increase in deferred tax asset related to Tax Reform Act | $ 300 | |||||||||||
Additions for tax positions of prior years | 65 | $ 16 | $ 10 | |||||||||
Recognition of previously unrecognized income tax benefits related to uncertain tax positions | (43) | (14) | 0 | |||||||||
Accrued interest and penalties | 33 | 30 | ||||||||||
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations | (43) | (17) | $ 0 | |||||||||
IRS Settlement 2012-2016 | ||||||||||||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | ||||||||||||
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations | $ (14) | |||||||||||
Specific uncertain tax position that was previously unrecognized in our prior year consolidated financial statements [Member] | ||||||||||||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | ||||||||||||
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations | $ (36) | |||||||||||
Long-term investments [Member] | ||||||||||||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | ||||||||||||
Restricted Investments | 357 | 397 | ||||||||||
Foreign Tax Authority | ||||||||||||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | ||||||||||||
Net operating loss carryforward | 103 | |||||||||||
Domestic Tax Authority | ||||||||||||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | ||||||||||||
Net operating loss carryforward | 96 | |||||||||||
Ministry of Finance, India [Member] | ||||||||||||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | ||||||||||||
Unrepatriated foreign earnings | $ 5,200 | |||||||||||
Tax on Accumulated Indian Earnings [Member] | ||||||||||||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | ||||||||||||
Income Tax Expense (Benefit) | $ 140 | |||||||||||
2013 India Share Repurchase [Member] | Ministry of Finance, India [Member] | Foreign Tax Authority | ||||||||||||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | ||||||||||||
Foreign Earnings Repatriated | $ 523 | |||||||||||
2016 India Cash Remittance [Member] | Ministry of Finance, India [Member] | Foreign Tax Authority | ||||||||||||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | ||||||||||||
Income Tax Expense (Benefit) | $ 135 | |||||||||||
Foreign Earnings Repatriated | $ 2,800 | |||||||||||
Income Tax, Disputed Amount | 399 | ₨ 33 | ||||||||||
Deposits Assets | ₨ | ₨ 5 | |||||||||||
Deposits Assets, Percent Disputed Tax Amount | 15% | |||||||||||
2016 India Cash Remittance [Member] | Ministry of Finance, India [Member] | Foreign Tax Authority | Other Current Assets | ||||||||||||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | ||||||||||||
Deposits Assets | 60 | 67 | ||||||||||
2016 India Cash Remittance [Member] | Ministry of Finance, India [Member] | Foreign Tax Authority | Long-term investments [Member] | ||||||||||||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | ||||||||||||
Restricted Investments | $ 357 | $ 397 | ₨ 30 |
Income Taxes (Reconciliation Be
Income Taxes (Reconciliation Between Effective Income Tax Rate And U.S. Federal Statutory Rate) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract] | |||
Tax expense, at U.S. federal statutory rate, amount | $ 633 | $ 594 | $ 440 |
State and local income taxes, net of federal benefit, amount | 63 | 50 | 52 |
Non-taxable income for Indian tax purposes, amount | (6) | (36) | (48) |
Rate differential on foreign earnings, amount | 98 | 137 | 178 |
Recognition of previously unrecognized income tax benefits related to uncertain tax positions | (43) | (14) | 0 |
Credits and other incentives, amount | (17) | (42) | (51) |
Effective Income Tax Rate Reconciliation, Reversal of Indefinite Reinvestment Assertion, Amount | 0 | 0 | 140 |
Other adjustments, amount | 2 | 4 | (7) |
Total provision for income taxes | $ 730 | $ 693 | $ 704 |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | |||
Tax expense, at U.S. federal statutory rate, percentage | 21% | 21% | 21% |
State and local income taxes, net of federal benefit, percentage | 2.10% | 1.80% | 2.50% |
Non-taxable income for Indian tax purposes, percentage | (0.20%) | (1.30%) | (2.30%) |
Rate differential on foreign earnings, percentage | 3.20% | 4.80% | 8.50% |
Recognition of previously unrecognized income tax benefits related to uncertain tax positions, percentage | (1.40%) | (0.50%) | 0% |
Credits and other incentives, percent | (0.60%) | (1.50%) | (2.40%) |
Effective Income Tax Rate Reconciliation, Reversal of Indefinite Reinvestment Assertion, Percent | 0% | 0% | 6.60% |
Other adjustments, percent | 0.10% | 0.20% | (0.30%) |
Total provision for income taxes, percentage | 24.20% | 24.50% | 33.60% |
Income Taxes (Schedule Of Defer
Income Taxes (Schedule Of Deferred Tax Assets And Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Deferred income tax assets: | ||
Net operating losses | $ 46 | $ 52 |
Revenue recognition | 37 | 116 |
Compensation and benefits | 159 | 230 |
Minimum alternative tax (MAT) and other credits | 16 | 27 |
Expenses not currently deductible | 498 | 121 |
Deferred income tax assets, gross | 756 | 546 |
Less valuation allowance | (41) | (46) |
Deferred income tax assets, net | 715 | 500 |
Deferred income tax liabilities: | ||
Depreciation and amortization | 194 | 202 |
Deferred Tax Liabilities, Deferred Expense | 48 | 84 |
Other | 11 | 28 |
Deferred income tax liabilities | 253 | 314 |
Net deferred income tax assets | $ 462 | $ 186 |
Income Taxes ITD Dispute (Detai
Income Taxes ITD Dispute (Details) $ in Millions, ₨ in Billions | 12 Months Ended | |||||||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2016 USD ($) | Dec. 31, 2013 USD ($) | Dec. 31, 2022 INR (₨) | Apr. 30, 2018 INR (₨) | Mar. 31, 2018 INR (₨) | |
One-time Transaction [Table] [Line Items] | ||||||||
Income Tax Expense (Benefit) | $ 730 | $ 693 | $ 704 | |||||
Long-term investments [Member] | ||||||||
One-time Transaction [Table] [Line Items] | ||||||||
Restricted Investments | 357 | 397 | ||||||
Foreign Tax Authority | Ministry of Finance, India [Member] | 2016 India Cash Remittance [Member] | ||||||||
One-time Transaction [Table] [Line Items] | ||||||||
Foreign Earnings Repatriated | $ 2,800 | |||||||
Income Tax Expense (Benefit) | $ 135 | |||||||
Income Tax, Disputed Amount | 399 | ₨ 33 | ||||||
Deposits Assets | ₨ | ₨ 5 | |||||||
Deposits Assets, Percent Disputed Tax Amount | 15% | |||||||
Foreign Tax Authority | Ministry of Finance, India [Member] | 2016 India Cash Remittance [Member] | Other Current Assets | ||||||||
One-time Transaction [Table] [Line Items] | ||||||||
Deposits Assets | 60 | 67 | ||||||
Foreign Tax Authority | Ministry of Finance, India [Member] | 2016 India Cash Remittance [Member] | Long-term investments [Member] | ||||||||
One-time Transaction [Table] [Line Items] | ||||||||
Restricted Investments | $ 357 | $ 397 | ₨ 30 | |||||
Foreign Tax Authority | Ministry of Finance, India [Member] | 2013 India Share Repurchase [Member] | ||||||||
One-time Transaction [Table] [Line Items] | ||||||||
Foreign Earnings Repatriated | $ 523 |
Income Taxes (Summary Of Change
Income Taxes (Summary Of Changes In Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Changes in unrecognized income tax benefits | |||
Balance, beginning of year | $ 194 | $ 193 | $ 152 |
Additions based on tax positions related to the current year | 53 | 34 | 28 |
Additions for tax positions of prior years | 65 | 16 | 10 |
Unrecognized Tax Benefits, Increase Resulting from Acquisition | 0 | 12 | 3 |
Reductions for tax positions due to lapse of statutes of limitations | (43) | (17) | 0 |
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities | 0 | (43) | 0 |
Foreign currency exchange movement | 0 | (1) | 0 |
Balance, end of year | $ 269 | $ 194 | $ 193 |
Derivative Financial Instrume_3
Derivative Financial Instruments (Narrative) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Cash flow hedge losses expected to be reclassified to earnings within the next 12 months | $ (40) |
Derivative Financial Instrume_4
Derivative Financial Instruments (Location And Fair Values Of Derivative Financial Instruments In Our Consolidated Statement Of Financial Position) (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Derivatives, Fair Value [Line Items] | ||
Derivative assets fair value | $ 6 | $ 69 |
Derivative liabilities fair value | 75 | 7 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets fair value | 4 | 3 |
Derivative liabilities fair value | 5 | 7 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward Contracts [Member] | Other Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets fair value | 4 | 3 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward Contracts [Member] | Accrued Expenses And Other Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities fair value | 5 | 7 |
Cash Flow Hedges [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets fair value | 2 | 66 |
Derivative liabilities fair value | 70 | 0 |
Cash Flow Hedges [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other Current Assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets fair value | 1 | 51 |
Cash Flow Hedges [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other Noncurrent Assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets fair value | 1 | 15 |
Cash Flow Hedges [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Accrued Expenses And Other Current Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities fair value | 53 | 0 |
Cash Flow Hedges [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other Noncurrent Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities fair value | $ 17 | $ 0 |
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 Hedges [Member] - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Derivative, notional amount | $ 2,875 | $ 2,523 |
Foreign Exchange Contract, Maturity 2022 [Member] | ||
Derivative [Line Items] | ||
Derivative, notional amount | 0 | 1,643 |
Foreign Exchange Contract, Maturity 2023 | ||
Derivative [Line Items] | ||
Derivative, notional amount | 1,865 | 880 |
Foreign Exchange Contract, Maturity 2024 | ||
Derivative [Line Items] | ||
Derivative, notional amount | 1,010 | 0 |
Foreign Exchange Option [Member] | ||
Derivative [Line Items] | ||
Derivative, notional amount | $ 0 | $ 78 |
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 Hedges [Member] - Designated as Hedging Instrument [Member] - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | $ (14) | $ 63 |
Cost of revenues | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | (13) | 55 |
SG&A expenses | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | (1) | 8 |
Foreign Exchange Contract [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax | $ (153) | $ 67 |
Derivative Financial Instrume_7
Derivative Financial Instruments (Additional Information Related To Outstanding Contracts Not Designated As Hedging Instruments) (Details) - Not Designated as Hedging Instrument [Member] - Foreign Exchange Forward Contracts [Member] - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Derivative [Line Items] | ||
Derivative, notional amount | $ 1,433 | $ 847 |
Market value | $ (1) | $ (4) |
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 | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Foreign currency exchange gains (losses), net | Foreign currency exchange gains (losses), net |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward Contracts [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Amount of net gains (losses) on derivative instruments | $ 23 | $ 13 |
Fair Value Measurements (Financ
Fair Value Measurements (Financial Assets And (Liabilities) Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Short-term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities, FV-NI, Current | $ 10 | $ 26 |
Debt Securities, Available-for-sale | 225 | 310 |
Long-term investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Restricted Investments | 357 | 397 |
Fair Value, Recurring [Member] | Short-term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities, FV-NI, Current | 10 | 26 |
Fair Value, Recurring [Member] | Other Current Assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreign Currency Contract, Asset, Fair Value Disclosure | 5 | 54 |
Fair Value, Recurring [Member] | Long-term investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Restricted Investments | 357 | 397 |
Fair Value, Recurring [Member] | Other Noncurrent Assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreign Currency Contract, Asset, Fair Value Disclosure | 1 | 15 |
Fair Value, Recurring [Member] | Accrued Expenses And Other Current Liabilities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreign Currency Contracts, Liability, Fair Value Disclosure | (58) | (7) |
Business Combination, Contingent Consideration, Liability | (9) | (14) |
Fair Value, Recurring [Member] | Other Noncurrent Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreign Currency Contracts, Liability, Fair Value Disclosure | (17) | |
Business Combination, Contingent Consideration, Liability | (13) | (21) |
Fair Value, Recurring [Member] | Commercial Paper [Member] | Short-term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 310 | |
Fair Value, Recurring [Member] | Certificates of deposit and commercial paper [Member] | Short-term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 225 | |
Fair Value, Recurring [Member] | Money Market Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 367 | 507 |
Fair Value, Recurring [Member] | Bank Time Deposits [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 359 | 4 |
Fair Value, Recurring [Member] | Commercial Paper [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 512 | 266 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Short-term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities, FV-NI, Current | 10 | 26 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other Current Assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreign Currency Contract, Asset, Fair Value Disclosure | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other Noncurrent Assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreign Currency Contract, Asset, Fair Value Disclosure | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Accrued Expenses And Other Current Liabilities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreign Currency Contracts, Liability, Fair Value Disclosure | 0 | 0 |
Business Combination, Contingent Consideration, Liability | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other Noncurrent Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreign Currency Contracts, Liability, Fair Value Disclosure | 0 | |
Business Combination, Contingent Consideration, Liability | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Certificates of deposit and commercial paper [Member] | Short-term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member] | Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 367 | 507 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Short-term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities, FV-NI, Current | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other Current Assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreign Currency Contract, Asset, Fair Value Disclosure | 5 | 54 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Long-term investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Restricted Investments | 357 | 397 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other Noncurrent Assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreign Currency Contract, Asset, Fair Value Disclosure | 1 | 15 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Accrued Expenses And Other Current Liabilities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreign Currency Contracts, Liability, Fair Value Disclosure | (58) | (7) |
Business Combination, Contingent Consideration, Liability | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other Noncurrent Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreign Currency Contracts, Liability, Fair Value Disclosure | (17) | |
Business Combination, Contingent Consideration, Liability | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Commercial Paper [Member] | Short-term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 310 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Certificates of deposit and commercial paper [Member] | Short-term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 225 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member] | Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Bank Time Deposits [Member] | Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 359 | 4 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Commercial Paper [Member] | Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 512 | 266 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Short-term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities, FV-NI, Current | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other Current Assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreign Currency Contract, Asset, Fair Value Disclosure | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other Noncurrent Assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreign Currency Contract, Asset, Fair Value Disclosure | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Accrued Expenses And Other Current Liabilities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreign Currency Contracts, Liability, Fair Value Disclosure | 0 | 0 |
Business Combination, Contingent Consideration, Liability | (9) | (14) |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other Noncurrent Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreign Currency Contracts, Liability, Fair Value Disclosure | 0 | |
Business Combination, Contingent Consideration, Liability | (13) | (21) |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Paper [Member] | Short-term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Certificates of deposit and commercial paper [Member] | Short-term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Money Market Funds [Member] | Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 |
Bank Time Deposits [Member] | Fair Value, Recurring [Member] | Short-term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 51 | 554 |
Bank Time Deposits [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Short-term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | $ 51 | $ 554 |
Fair Value Measurements (Level
Fair Value Measurements (Level 3 Contingent Consideration Liabilities) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Selling, general and administrative expenses | Selling, general and administrative expenses |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | $ 35 | $ 54 |
Initial measurement recognized at acquisition | 1 | 24 |
Change in fair value recognized in SG&A expenses | (1) | (30) |
Payments and other adjustments | (13) | (13) |
Ending balance | $ 22 | $ 35 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
AOCI, beginning balance | $ 11,991 | $ 10,836 | $ 11,022 | |
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ||||
Other comprehensive income (loss) | (336) | (73) | 148 | |
AOCI, ending balance | 12,309 | 11,991 | 10,836 | |
Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
AOCI, beginning balance | [1] | 1 | ||
Foreign currency translation adjustments: | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
AOCI before Tax, beginning balance | (22) | 56 | (63) | |
AOCI Tax, beginning balance | 2 | (1) | (1) | |
AOCI, beginning balance | (20) | 55 | (64) | |
Other Comprehensive Income (Loss), before Tax [Abstract] | ||||
Other Comprehensive Income (Loss), before Tax | (234) | (78) | 119 | |
Other Comprehensive Income (Loss), Tax [Abstract] | ||||
Other Comprehensive Income (Loss), Tax | 6 | 3 | 0 | |
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ||||
Other comprehensive income (loss) | (75) | 119 | ||
AOCI before Tax, ending balance | (256) | (22) | 56 | |
AOCI Tax, ending balance | 8 | 2 | (1) | |
AOCI, ending balance | (248) | (20) | 55 | |
Unrealized gains (losses) on cash flow hedges: | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
AOCI before Tax, beginning balance | 71 | 67 | 31 | |
AOCI Tax, beginning balance | (14) | (12) | (5) | |
AOCI, beginning balance | 57 | 55 | 26 | |
Other Comprehensive Income (Loss), before Tax [Abstract] | ||||
OCI, before Reclassifications, before Tax | (153) | 67 | 39 | |
Other Comprehensive Income (Loss), before Tax | (139) | 4 | 36 | |
Other Comprehensive Income (Loss), Tax [Abstract] | ||||
Other Comprehensive Income (Loss) before Reclassifications, Tax | 34 | (13) | (8) | |
Other Comprehensive Income (Loss), Tax | 31 | (2) | (7) | |
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ||||
OCI, before Reclassifications, Net of Tax | (119) | 54 | 31 | |
Other comprehensive income (loss) | (108) | 2 | 29 | |
AOCI before Tax, ending balance | (68) | 71 | 67 | |
AOCI Tax, ending balance | 17 | (14) | (12) | |
AOCI, ending balance | (51) | 57 | 55 | |
Accumulated other comprehensive income (loss): | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
AOCI before Tax, beginning balance | 49 | 123 | (32) | |
AOCI Tax, beginning balance | (12) | (13) | (6) | |
AOCI, beginning balance | 37 | 110 | (38) | |
Other Comprehensive Income (Loss), before Tax [Abstract] | ||||
Other Comprehensive Income (Loss), before Tax | (373) | (74) | 155 | |
Other Comprehensive Income (Loss), Tax [Abstract] | ||||
Other Comprehensive Income (Loss), Tax | 37 | 1 | (7) | |
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ||||
Other comprehensive income (loss) | (336) | (73) | 148 | |
AOCI before Tax, ending balance | (324) | 49 | 123 | |
AOCI Tax, ending balance | 25 | (12) | (13) | |
AOCI, ending balance | (299) | 37 | 110 | |
Cost of revenues | Unrealized gains (losses) on cash flow hedges: | ||||
Other Comprehensive Income (Loss), before Tax [Abstract] | ||||
Reclassification from AOCI, Current Period, before Tax | 13 | (55) | (3) | |
Other Comprehensive Income (Loss), Tax [Abstract] | ||||
Reclassification from AOCI, Current Period, Tax | (3) | 10 | 1 | |
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ||||
Reclassification from AOCI, Current Period, Net of Tax | 10 | (45) | (2) | |
SG&A expenses | Unrealized gains (losses) on cash flow hedges: | ||||
Other Comprehensive Income (Loss), before Tax [Abstract] | ||||
Reclassification from AOCI, Current Period, before Tax | 1 | (8) | 0 | |
Other Comprehensive Income (Loss), Tax [Abstract] | ||||
Reclassification from AOCI, Current Period, Tax | 0 | 1 | 0 | |
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ||||
Reclassification from AOCI, Current Period, Net of Tax | $ 1 | $ (7) | $ 0 | |
[1]Reflects the adoption of the Credit Loss Standard on January 1, 2020. |
Commitments and Contingencies (
Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions | Apr. 20, 2021 | Oct. 27, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2019 |
Other Commitments [Line Items] | |||||
Accrued expenses and other current liabilities | $ 2,407 | $ 2,532 | |||
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 expenses and other current liabilities | $ 117 |
Employee Benefits (Narrative) (
Employee Benefits (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Gratuity Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Liability, Defined Benefit Plan | $ 99 | $ 118 | |
Fund assets | 206 | 212 | |
Pension and Other Postretirement Benefits Cost (Reversal of Cost) | 45 | 70 | $ 35 |
United States and All Plans, Excluding India | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined contribution plan expense | 172 | 135 | 118 |
India | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined contribution plan expense | $ 143 | $ 121 | $ 98 |
Employee contribution percentage, maximum | 12% |
Stock-Based Compensation Plan_2
Stock-Based Compensation Plans (Narrative) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2017 | |
2017 Incentive Plan [Member] | ||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ||||
Shares authorized | 48.8 | |||
Shares available for grant | 17.3 | |||
Restricted Stock Units [Member] | ||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ||||
Weighted Average Grant Date Fair Value, Granted | $ 78.20 | $ 74.66 | $ 61.85 | |
Unrecognized stock-based compensation expense | $ 182 | |||
Weighted average remaining requisite service period | 1 year 7 months 6 days | |||
Performance Stock Units [Member] | ||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ||||
Weighted Average Grant Date Fair Value, Granted | $ 90.92 | $ 73.38 | $ 62 | |
Unrecognized stock-based compensation expense | $ 35 | |||
Weighted average remaining requisite service period | 1 year | |||
Employee Stock [Member] | ||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ||||
Shares authorized | 40 | |||
Shares available for grant | 2.6 | |||
Shares issued | 1.3 | |||
Maximum [Member] | Restricted Stock Units [Member] | ||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ||||
Vesting period | 4 years | |||
Maximum [Member] | Performance Stock Units [Member] | ||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ||||
Vesting period | 4 years |
Stock-Based Compensation Plan_3
Stock-Based Compensation Plans (Schedule Of Allocation Of Total Stock-Based Compensation Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Total stock-based compensation expense | $ 261 | $ 246 | $ 232 |
Income tax benefit | 59 | 59 | 48 |
Cost of revenues | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Total stock-based compensation expense | 33 | 49 | 51 |
SG&A expenses | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Total stock-based compensation expense | $ 228 | $ 197 | $ 181 |
Stock-Based Compensation Plan_4
Stock-Based Compensation Plans (Schedule Of Assumptions Used To Calculate The Fair Value Of Option Grants) (Details) - Employee Stock [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||
Dividend yield | 1.30% | 1.10% | |
Weighted average volatility factor | 27.50% | 35.90% | |
Weighted average risk-free interest rate | 0.03% | 0.60% | |
Weighted average expected life (in years) | 3 months | 3 months | |
Weighted average grant date fair value | $ 11.72 | $ 9.38 | |
Eligible employees purchase percentage of whole share of fair market value | 95% | 90% | 90% |
Stock-Based Compensation Plan_5
Stock-Based Compensation Plans (Summary Of The Activity For Performance Stock Units) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Performance Stock Units [Member] | |||
Number of Units | |||
Number of Units, Unvested at beginning of period | 2.3 | ||
Number of Units, Granted | 1 | ||
Number of Units, Vested | (0.1) | ||
Number of Units, Forfeited | (0.4) | ||
Number of Units, Adjustment at the conclusion of the performance measurement period | 0.4 | ||
Number of Units, Unvested at end of period | 2.4 | 2.3 | |
Weighted Average Grant Date Fair Value (in dollars) | |||
Weighted Average Grant Date Fair Value, Unvested at beginning of period | $ 67.55 | ||
Weighted Average Grant Date Fair Value, Granted | 90.92 | $ 73.38 | $ 62 |
Weighted Average Grant Date Fair Value, Vested | 60.37 | ||
Weighted Average Grant Date Fair Value, Forfeited | 75.83 | ||
Weighted Average Grant Date Fair Value, Reduction due to the achievement of lower than maximum performance milestones | 63.88 | ||
Weighted Average Grant Date Fair Value, Unvested at end of period | $ 76.93 | $ 67.55 | |
Unrecognized stock-based compensation expense | $ 35 | ||
Weighted average remaining requisite service period | 1 year | ||
Restricted Stock Units [Member] | |||
Number of Units | |||
Number of Units, Unvested at beginning of period | 3.9 | ||
Number of Units, Granted | 3.1 | ||
Number of Units, Vested | (2.9) | ||
Number of Units, Forfeited | (0.7) | ||
Number of Units, Unvested at end of period | 3.4 | 3.9 | |
Weighted Average Grant Date Fair Value (in dollars) | |||
Weighted Average Grant Date Fair Value, Unvested at beginning of period | $ 70.11 | ||
Weighted Average Grant Date Fair Value, Granted | 78.20 | $ 74.66 | $ 61.85 |
Weighted Average Grant Date Fair Value, Vested | 72.19 | ||
Weighted Average Grant Date Fair Value, Forfeited | 76.07 | ||
Weighted Average Grant Date Fair Value, Unvested at end of period | $ 74.54 | $ 70.11 | |
Unrecognized stock-based compensation expense | $ 182 | ||
Weighted average remaining requisite service period | 1 year 7 months 6 days |
Stock-Based Compensation Plan_6
Stock-Based Compensation Plans (Summary Of The Activity For Restricted Stock Units) (Details) - Restricted Stock Units [Member] - $ / shares shares in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Number of Units | |||
Number of Units, Unvested at beginning of period | 3.9 | ||
Number of Units, Granted | 3.1 | ||
Number of Units, Vested | (2.9) | ||
Number of Units, Forfeited | (0.7) | ||
Number of Units, Unvested at end of period | 3.4 | 3.9 | |
Weighted Average Grant Date Fair Value (in dollars) | |||
Weighted Average Grant Date Fair Value, Unvested at beginning of period | $ 70.11 | ||
Weighted Average Grant Date Fair Value, Granted | 78.20 | $ 74.66 | $ 61.85 |
Weighted Average Grant Date Fair Value, Vested | 72.19 | ||
Weighted Average Grant Date Fair Value, Forfeited | 76.07 | ||
Weighted Average Grant Date Fair Value, Unvested at end of period | $ 74.54 | $ 70.11 |
Segment Information (Revenues F
Segment Information (Revenues From External Customers And Segment Operating Profit) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Segment Reporting Information [Line Items] | |||
Income from operations | $ 2,968 | $ 2,826 | $ 2,114 |
Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Income from operations | 5,746 | 5,460 | 4,614 |
Operating Segments [Member] | Financial Services | |||
Segment Reporting Information [Line Items] | |||
Income from operations | 1,771 | 1,707 | 1,419 |
Operating Segments [Member] | Health Sciences | |||
Segment Reporting Information [Line Items] | |||
Income from operations | 1,515 | 1,527 | 1,357 |
Operating Segments [Member] | Products and Resources | |||
Segment Reporting Information [Line Items] | |||
Income from operations | 1,448 | 1,301 | 1,058 |
Operating Segments [Member] | Communications, Media and Technology | |||
Segment Reporting Information [Line Items] | |||
Income from operations | 1,012 | 925 | 780 |
Corporate, Non-Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Less: unallocated costs | $ 2,778 | $ 2,634 | $ 2,500 |
Segment Information (Revenues A
Segment Information (Revenues And Long-Lived Assets By Geographic Area) (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Geographic Areas, Long-Lived Assets | |||
Long-lived assets | $ 1,101 | $ 1,171 | $ 1,251 |
North America [Member] | |||
Geographic Areas, Long-Lived Assets | |||
Long-lived assets | 354 | 377 | 399 |
Europe [Member] | |||
Geographic Areas, Long-Lived Assets | |||
Long-lived assets | 86 | 75 | 88 |
Rest of World [Member] | |||
Geographic Areas, Long-Lived Assets | |||
Long-lived assets | $ 661 | $ 719 | $ 764 |
Valuation And Qualifying Acco_2
Valuation And Qualifying Accounts (Valuation And Qualifying Accounts) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Warranty Accrual [Member] | |||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at Beginning of Period | $ 39 | $ 32 | $ 33 |
Charged to Costs and Expenses | 41 | 36 | 32 |
Charged to Other Accounts | 0 | 3 | 0 |
Deductions/Other | 39 | 32 | 33 |
Balance at End of Period | 41 | 39 | 32 |
Valuation Allowance - Deferred Income Tax Assets [Member] | |||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at Beginning of Period | 46 | 29 | 24 |
Charged to Costs and Expenses | 3 | 17 | 5 |
Charged to Other Accounts | 0 | 0 | 0 |
Deductions/Other | 8 | 0 | 0 |
Balance at End of Period | $ 41 | $ 46 | $ 29 |
Subsequent Events (Details)
Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |||||
Feb. 01, 2023 | Jan. 01, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Subsequent Event [Line Items] | ||||||
Dividends declared per common share (in usd per share) | $ 1.08 | $ 0.96 | $ 0.88 | |||
Cash and cash equivalents | $ 2,191 | $ 1,792 | $ 2,680 | |||
Restricted Cash | 103 | 0 | 0 | |||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $ 2,294 | $ 1,792 | $ 2,680 | $ 2,645 | ||
Subsequent Event [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Dividends declared per common share (in usd per share) | $ 0.29 | |||||
Subsequent Event [Member] | OneSource Virtual | ||||||
Subsequent Event [Line Items] | ||||||
Payments to Acquire Businesses, Gross | $ 103 | |||||
Subsequent Event [Member] | Mobica | ||||||
Subsequent Event [Line Items] | ||||||
Payments to Acquire Businesses, Gross | $ 335 |