Cognizant Technology Solutions (CTSH) 10-Q 1 May 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2024	Apr. 26, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	0-24429
Entity Registrant Name	COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3728359
Entity Address, Address Line One	300 Frank W. Burr Blvd.
Entity Address, City or Town	Teaneck
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07666
City Area Code	201
Local Phone Number	801-0233
Title of 12(b) Security	Class A Common Stock, $0.01 par value per share
Trading Symbol	CTSH
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		497,198,868
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001058290
Current Fiscal Year End Date	--12-31
Amendment Flag	false

Consolidated Statements Of Fina

Consolidated Statements Of Financial Position (Unaudited) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 2,231	$ 2,621
Short-term investments	12	14
Trade accounts receivable, net	3,822	3,849
Other current assets	1,021	1,022
Total current assets	7,086	7,506
Property and equipment, net	1,036	1,048
Operating lease assets, net	589	611
Goodwill	6,393	6,085
Intangible assets, net	1,171	1,149
Deferred income tax assets, net	993	993
Long-term investments	83	435
Other noncurrent assets	1,057	656
Total assets	18,408	18,483
Current liabilities:
Accounts payable	291	337
Deferred revenue	449	385
Short-term debt	33	33
Operating lease liabilities	143	153
Accrued expenses and other current liabilities	2,096	2,425
Total current liabilities	3,012	3,333
Deferred revenue, noncurrent	36	42
Operating lease liabilities, noncurrent	503	523
Deferred income tax liabilities, net	201	226
Long-term debt	598	606
Long-term income taxes payable	157	157
Other noncurrent liabilities	411	369
Total liabilities	4,918	5,256
Commitments and contingencies (See Note 12)
Stockholders’ equity:
Preferred stock, $0.10 par value, 15 shares authorized, none issued	0	0
Class A common stock, $0.01 par value, 1,000 shares authorized, 497 and 498 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively	5	5
Additional paid-in capital	20	15
Retained earnings	13,621	13,301
Accumulated other comprehensive income (loss)	(156)	(94)
Total stockholders’ equity	13,490	13,227
Total liabilities and stockholders’ equity	$ 18,408	$ 18,483

Consolidated Statements Of Fi_2

Consolidated Statements Of Financial Position (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.10	$ 0.10
Preferred Stock, Shares Authorized	15,000,000	15,000,000
Preferred Stock, Shares Issued	0	0
Class A common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, Shares Authorized	1,000,000,000	1,000,000,000
Common Stock, Shares, Issued	497,000,000	498,000,000
Common Stock, Shares, Outstanding	497,000,000	498,000,000

Consolidated Statements Of Oper

Consolidated Statements Of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Revenues	$ 4,760	$ 4,812
Operating expenses:
Cost of revenues (exclusive of depreciation and amortization expense shown separately below)	3,146	3,143
Selling, general and administrative expenses	765	835
Restructuring charges	23	0
Depreciation and amortization expense	131	132
Income from operations	695	702
Other income (expense), net:
Interest income	30	30
Interest expense	(11)	(9)
Foreign currency exchange gains (losses), net	6	12
Other, net	2	3
Total other income (expense), net	27	36
Income before provision for income taxes	722	738
Provision for income taxes	(179)	(158)
Income (Loss) from Equity Method Investments	3	0
Net income	$ 546	$ 580
Basic earnings per share (usd per share)	$ 1.10	$ 1.14
Diluted earnings per share (usd per share)	$ 1.10	$ 1.14
Weighted average number of common shares outstanding - Basic (shares)	497	509
Dilutive effect of shares issuable under stock-based compensation plans (shares)	1	0
Weighted average number of common shares outstanding - Diluted (shares)	498	509

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 546	$ 580
Change in Accumulated other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(73)	43
Unrealized gains and losses on cash flow hedges	11	34
Other comprehensive income (loss)	(62)	77
Comprehensive income	$ 484	$ 657

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2022		509
Beginning balance at Dec. 31, 2022	$ 12,309	$ 5	$ 15	$ 12,588	$ (299)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	580			580
Other comprehensive income (loss)	77				77
Other comprehensive income (loss)	77
Common stock issued, stock-based compensation plans (in shares)		2
Common stock issued, stock-based compensation plans - value	23		23
Stock-based compensation expense	44		44
Repurchases of common stock (in shares)		(4)
Repurchases of common stock	(223)		(60)	(163)
Dividends declared	(149)			(149)
Ending balance (in shares) at Mar. 31, 2023		507
Ending balance at Mar. 31, 2023	$ 12,661	$ 5	22	12,856	(222)
Beginning balance (in shares) at Dec. 31, 2023	498	498
Beginning balance at Dec. 31, 2023	$ 13,227	$ 5	15	13,301	(94)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	546			546
Other comprehensive income (loss)	(62)				(62)
Other comprehensive income (loss)	(62)
Common stock issued, stock-based compensation plans (in shares)		1
Common stock issued, stock-based compensation plans - value	20		20
Stock-based compensation expense	42		42
Repurchases of common stock (in shares)		(2)
Repurchases of common stock	(133)		(57)	(76)
Dividends declared	$ (150)			(150)
Ending balance (in shares) at Mar. 31, 2024	497	497
Ending balance at Mar. 31, 2024	$ 13,490	$ 5	$ 20	$ 13,621	$ (156)

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net income	$ 546	$ 580
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	133	132
Deferred income taxes	(26)	(16)
Stock-based compensation expense	42	44
Other	32	27
Changes in assets and liabilities, net of the effect of business combinations:
Trade accounts receivable, current	39	89
Other current and noncurrent assets	(347)	(17)
Accounts payable	(47)	(26)
Deferred revenues, current and noncurrent	50	71
Other current and noncurrent liabilities	(327)	(155)
Net cash provided by operating activities	95	729
Cash flows from investing activities:
Purchases of property and equipment	(79)	(98)
Proceeds from maturity or sale of available-for-sale investment securities	0	(225)
Purchases of held-to-maturity investment securities	0	(3)
Proceeds from maturity of held-to-maturity investment securities	3	15
Purchases of other investments	0	(26)
Proceeds from maturity or sale of other investments	259	81
Payments for business combinations, net of cash acquired	(421)	(409)
Net cash (used in) investing activities	(238)	(215)
Cash flows from financing activities:
Issuance of common stock under stock-based compensation plans	20	23
Repurchases of common stock	(133)	(222)
Repayment of Term Loan borrowings and earnout and finance lease obligations	(40)	(1)
Dividends paid	(151)	(150)
Net cash (used in) financing activities	(304)	(350)
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents	(39)	0
(Decrease) increase in cash, cash equivalents and restricted cash and cash equivalents	(486)	164
Cash, cash equivalents and restricted cash and cash equivalents beginning of year	2,717	2,294
Cash and cash equivalents, end of period	$ 2,231	$ 2,458

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in usd per share)	$ 0.30	$ 0.29

Interim Consolidated Financial

Interim Consolidated Financial Statements	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interim Consolidated Financial Statements	The terms “Cognizant,” “we,” “our,” “us” and “the Company” refer to Cognizant Technology Solutions Corporation and its subsidiaries unless the context indicates otherwise. We have prepared the accompanying unaudited consolidated financial statements included herein in accordance with GAAP and the Exchange Act. The accompanying unaudited consolidated financial statements should be read in conjunction w ith our audited consolidated financial statements (and notes thereto) included in our Annual Report on Form 10-K for the year ended December 31, 2023. In our opinion, all adjustments considered necessary for a fair statement of the accompanying unaudited consolidated financial statements have been included and all adjustments are of a normal and recurring nature. Operating results for the interim periods are not necessarily indicative of results that may be expected to occur for the entire year. New Accounting Pronouncements Date Issued and Topic Effective Date Description Impact November 2023 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures Annual period starting in 2024 and interim periods starting in 2025 Retrospective basis The standard requires enhanced segment disclosures but does not change the definition of a segment or the guidance for determining a reportable segment. The amendments require disclosure of significant segment expenses regularly provided to the CODM included within segment operating profit or loss and a description of how the CODM utilizes segment operating profit or loss to assess segment performance and allocating resources. The new standard also allows companies to disclose multiple measures of segment profit or loss if those measures are used to allocate resources. The Company is currently evaluating the impact of the new standard on its disclosures. December 2023 Income Taxes (Topic 740): Improvements to Income Tax Disclosures Annual period starting in 2025 Prospective basis although retrospective application is permitted The standard requires enhanced income tax disclosures primarily related to the income tax rate reconciliation and income taxes paid information. The Company is currently evaluating the impact of the new standard on its disclosures.

Revenues and Trade Accounts Rec

Revenues and Trade Accounts Receivable	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenues and Trade Accounts Receivable	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 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 the North America region relate to clients in the United States. Three Months Ended (in millions) Financial Services Health Sciences Products and Resources Communications, Media and Technology Total Revenues Geography: North America $ 977 $ 1,209 $ 773 $ 562 $ 3,521 United Kingdom 143 44 131 138 456 Continental Europe 151 135 145 52 483 Europe - Total 294 179 276 190 939 Rest of World 114 28 84 74 300 Total $ 1,385 $ 1,416 $ 1,133 $ 826 $ 4,760 Service line: Consulting and technology services $ 953 $ 802 $ 736 $ 464 $ 2,955 Outsourcing services 432 614 397 362 1,805 Total $ 1,385 $ 1,416 $ 1,133 $ 826 $ 4,760 Type of contract: Time and materials $ 783 $ 490 $ 470 $ 467 $ 2,210 Fixed-price 556 670 582 328 2,136 Transaction or volume-based 46 256 81 31 414 Total $ 1,385 $ 1,416 $ 1,133 $ 826 $ 4,760 Three Months Ended (in millions) Financial Services Health Sciences Products and Resources Communications, Media and Technology Total Revenues Geography: North America $ 1,033 $ 1,248 $ 741 $ 523 $ 3,545 United Kingdom 162 37 132 147 478 Continental Europe 152 124 150 35 461 Europe - Total 314 161 282 182 939 Rest of World 129 24 95 80 328 Total $ 1,476 $ 1,433 $ 1,118 $ 785 $ 4,812 Service line: Consulting and technology services $ 1,000 $ 812 $ 732 $ 442 $ 2,986 Outsourcing services 476 621 386 343 1,826 Total $ 1,476 $ 1,433 $ 1,118 $ 785 $ 4,812 Type of contract: Time and materials $ 861 $ 490 $ 445 $ 464 $ 2,260 Fixed-price 545 650 585 293 2,073 Transaction or volume-based 70 293 88 28 479 Total $ 1,476 $ 1,433 $ 1,118 $ 785 $ 4,812 Costs to Fulfill The following table shows significant movements in the capitalized costs to fulfill for the three months ended March 31: (in millions) 2024 2023 Beginning balance $ 245 $ 265 Costs capitalized 14 15 Amortization expense (24) (22) Ending balance $ 235 $ 258 Costs to obtain contracts were immaterial for the periods disclosed. Contract Balances The table below shows significant movements in contract assets (current and noncurrent) for the three months ended March 31: (in millions) 2024 2023 Beginning balance $ 316 $ 326 Revenues recognized during the period but not billed 248 248 Amounts reclassified to trade accounts receivable (180) (223) Amounts acquired in business combinations — 9 Ending balance $ 384 $ 360 The table below shows significant movements in the deferred revenue balances (current and noncurrent) for the three months ended March 31: (in millions) 2024 2023 Beginning balance $ 427 $ 417 Amounts billed but not recognized as revenues 311 322 Revenues recognized related to the beginning balance of deferred revenue (262) (251) Amounts acquired in business combinations 9 13 Ending balance $ 485 $ 501 Revenues recognized during the three months ended March 31, 2024 for performance obligations satisfied or partially satisfied in previous periods were immaterial. Remaining Performance Obligations As of March 31, 2024, the aggregate amount of transaction price allocated to remaining performance obligations was $4,263 million, of which approximately 55% is expected to be recognized as revenues within 2 years and approximately 85% 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 We calculate expected credit losses for trade accounts receivable based on historical credit loss rates for each aging category as adjusted for the current market conditions and forecasts about future economic conditions. The following table presents the activity in the allowance for credit losses for trade accounts receivable for the three months ended March 31: (in millions) 2024 2023 Beginning balance $ 32 $ 43 Credit loss expense (1) 1 4 Write-offs charged against the allowance (3) (11) Ending balance $ 30 $ 36 (1) Reported in "Selling, general and administrative expenses" in our unaudited consolidated statements of operations.

Business Combinations

Business Combinations	3 Months Ended
	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
Business Combinations	On January 22, 2024, through the execution of a share purchase agreement, we acquired 100% owners hip in Thirdera, an Elite ServiceNow Partner specializing in advisory, implementation and optimization solutions related to the ServiceNow platform. The acquisition completed during the three months ended March 31, 2024 was not material to our operations. Accordingly, pro forma results have not been presented. We have allocated the purchase price related to this transaction to tangible and intangible assets acquired and liabilities assumed, including goodwill, based on their estimated fair values . The allocations of preliminary purchase price to the fair value of the aggregate assets acquired and li abilities assumed were as follows: (in millions) Thirdera Weighted Average Useful Life Cash $ 8 Trade accounts receivable 22 Other current assets 10 Property and equipment and other noncurrent assets 2 Non-deductible goodwill 178 Tax-deductible goodwill 167 Customer relationship assets 73 8.0 years Other intangible assets 1 1.0 year Current liabilities (29) Noncurrent liabilities (3) Purchase price $ 429

Restructuring Charges

Restructuring Charges	3 Months Ended
	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring Charges	In the second quarter of 2023, we initiated the NextGen program aimed at simplifying our operating model, optimizing corporate functions and consolidating and realigning office space to reflect the post-pandemic hybrid work environment. We expect the NextGen program to be completed by the end of 2024. The total costs related to our NextGen program are reported in "Restructuring charges" in our unaudited consolidated statements of operations. We do not allocate these charges to individual segments in internal management reports used by the CODM. Accordingly, such expenses are separately disclosed in our segment reporting as “unallocated costs”. See Note 13 . Three Months Ended (in millions) March 31, 2024 Employee separation costs $ 8 Facility exit costs (1) 14 Third party and other costs (2) 1 Total restructuring charges $ 23 (1) Facility exit costs include lease restructuring of $12 million and related accelerated depreciation charges of $2 million. (2) Third party and other costs include certain professional services fees directly related to the NextGen program. We expect to record total costs of approximately $300 million in connection with the NextGen program. For the year ended December 31, 2023, we incurred $229 million of costs in connection with the NextGen program. There were no restructuring charges during the three months ended March 31, 2023. Changes in our accrued employee separation costs included in "Accrued expenses and other current liabilities" in our consolidated statements of financial position are presented in the table below for the three months ended March 31: (in millions) 2024 Beginning balance $ 42 Employee separation costs accrued 8 Payments made (21) Ending balance $ 29

Investments

Investments	3 Months Ended
	Mar. 31, 2024
Investments [Abstract]
Investments	Our investments were as follows: (in millions) March 31, 2024 December 31, 2023 Short-term investments: Equity investment security $ 11 $ 11 Held-to-maturity investment securities — 3 Time deposits 1 — Total short-term investments $ 12 $ 14 Long-term investments: Other investments $ 83 $ 80 Restricted time deposits (1) — 355 Total long-term investments $ 83 $ 435 (1) As of December 31, 2023 the balance of restricted time deposits contains $96 million of restricted cash equivalents. See Note 8 . Equity Investment Security Our equity investment security is a U.S. dollar denominated investment in a fixed income mutual fund. Realized and unrealized gains and losses were immaterial for the three months ended March 31, 2024 and 2023. Held-to-Maturity Investment Securities As of March 31, 2024 , we had no held-to-maturity securities. As of December 31, 2023 , the amortized cost and fair value of the held-to-maturity investments were each $3 million. Our held-to-maturity investment securities consisted of an Indian rupee denominated investment in commercial paper, which was in an unrealized loss position but had not been in an unrealized loss position for longer than 12 months. Other Investments As of March 31, 2024 and December 31, 2023, we had an equity method investment of $77 million and $74 million, respectively, in the technology sector. Additionally, as of each of March 31, 2024 and December 31, 2023, we had equity securities without a readily determinable fair value of $6 million.

Accrued Expenses And Other Curr

Accrued Expenses And Other Current Liabilities	3 Months Ended
	Mar. 31, 2024
Payables and Accruals [Abstract]
Accrued Expenses And Other Current Liabilities	Accrued expenses and other current liabilities were as follows: (in millions) March 31, 2024 December 31, 2023 Compensation and benefits $ 1,158 $ 1,511 Customer volume and other incentives 291 241 Income taxes 30 27 Professional fees 153 146 Other 464 500 Total accrued expenses and other current liabilities $ 2,096 $ 2,425

Debt

Debt	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt	In 2022, we entered int o th e Credit Agreement providing for the $650 million Term Loan and a $1,850 million unsecured revolving credit facility, which are each due to mature in October 2027. We are required under the Credit Agreement to make scheduled quarterly principal payments on the Term Loan. The 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 Credit Agreement), plus, in each case, an Applicable Margin (as defined in the Credit Agreement). Initially, the Applicable Margin is 0.875% with respect to 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 Credit Agreement. Since issuance of the Term Loan, t he Term Loan has been a Term Benchmark loan. The Credit Agreement contains customary affirmative and negative covenants as well as a financial covenant. We were in compliance with all debt covenants and representations of the Credit Agreement as of March 31, 2024. As of December 31, 2023, our India subsidiary had a 15 billion India rupee ($180 million at the December 31, 2023 exchange rate) working capital facility. This facility expired in March 2024. We have never borrowed funds under this facility or any of its predecessor facilities. Short-term Debt As of each of March 31, 2024 and December 31, 2023, we had $33 million of short-term debt related to current maturities of our Term Loan. Long-term Debt The following table summarizes the long-term debt balances as of: (in millions) March 31, 2024 December 31, 2023 Term Loan $ 634 $ 642 Less: Current maturities (33) (33) Unamortized deferred financing costs (3) (3) Long-term debt, net of current maturities $ 598 $ 606 The carrying value of our debt approximated its fair value as of March 31, 2024 and December 31, 2023.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Our effective income tax rates were as follows: Three Months Ended 2024 2023 Effective income tax rate 24.8 % 21.4 % In the first quarter of 2023, we reached an agreement with the IRS, which settled tax years 2017 and 2018, which decreased our effective tax rate in that period. 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 ($396 million at the March 31, 2024 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. 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, 2023, the balance of deposits under lien was 30 billion Indian rupees, including previously earned interest, or $355 million, as presented in "Long-term investments". In April 2020, we received a formal assessment from the ITD on the 2016 transaction, which is consistent with the ITD's previous assertions. Our appeal was ruled unfavorably by the CITA in March 2022 and by the ITAT in September 2023. We filed an appeal against the order of the ITAT with the High Court. On January 8, 2024, the SCI ruled that, in order to proceed with the appeal, we must deposit 30 billion Indian rupees ($355 million at the December 31, 2023 exchange rate), representing the time deposits of CTS India under lien, on the condition that, if CTS India prevails at the High Court, the amount deposited will be returned to CTS India, along with interest accrued, within four weeks of the judgment. We made the required deposit in January 2024, and in April 2024, the trial commenced before the High Court. As of March 31, 2024 and December 31, 2023, the deposit with the ITD was $414 million and $60 million, respectively at March 31, 2024 and December 31, 2023 exchange rates, presented in "Other noncurrent assets". As of December 31, 2023, $96 million of the $355 million in deposits under lien were held in time deposits with a maturity of less than 30 days qualifying as cash equivalent instruments and thus were considered restricted cash equivalents as of December 31, 2023. 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. 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 March 31, 2024.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2024
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 unaudited 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 unaudited consolidated statements of financial position as of: (in millions) March 31, 2024 December 31, 2023 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 $ 21 $ — $ 14 $ — Other noncurrent assets 8 — 5 — Accrued expenses and other current liabilities — 1 — 5 Other noncurrent liabilities — — — 1 Total 29 1 19 6 Foreign exchange forward contracts – Not designated as hedging instruments Other current assets 4 — 1 — Accrued expenses and other current liabilities — 2 — 9 Total 4 2 1 9 Total $ 33 $ 3 $ 20 $ 15 Cash Flow Hedges We have entered into a series of foreign exchange derivative contracts that are designated as cash flow hedges of Indian rupee denominated payments in India. These contracts are intended to partially offset the impact of movement of the Indian rupee against the U.S. dollar on future operating costs and are scheduled to mature each month during the remainder of 2024, 2025 and the first three months of 2026. The changes in fair value of these contracts are initially reported in "Accumulated other comprehensive income (loss)" in our unaudited consolidated statements of financial position and are subsequently reclassified to earnings within "Cost of revenues" and "Selling, general and administrative expenses" in our unaudited consolidated statements of operations in the same period that the forecasted Indian rupee denominated payments are recorded in earnings. As of March 31, 2024, we estima te that $15 million , net of tax, of net gains rela ted to derivatives designated as cash flow hedges reported in "Accumulated other comprehensive income (loss)" in our unaudited consolidated statements of financial position is expected to be reclassified into earnings within the next 12 months. The notional value of the outstanding contracts by year of maturity was as follows: (in millions) March 31, 2024 December 31, 2023 2024 1,583 $ 1,878 2025 1,165 1,020 2026 130 — Total notional value of contracts outstanding (1) $ 2,878 $ 2,898 (1) Includes $50 million and $45 million notional value of option contracts as of March 31, 2024 and December 31, 2023, respectively, with the remaining notional value related to forward contracts. The following table provides information on the location and amounts of pre-tax gains and losses on our cash flow hedges for the three months ended March 31: (in millions) Change in Location of Net (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (effective portion) Net (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (effective portion) 2024 2023 2024 2023 Foreign exchange forward and option contracts – Designated as cash flow hedging instruments $ 15 $ 33 Cost of revenues $ — $ (11) SG&A expenses — (1) Total $ — $ (12) 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 unaudited consolidated statements of stockholders' equity is present ed in Note 11 . Other Derivatives We use foreign exchange forward contracts to provide an economic hedge against balance sheet exposures to certain monetary assets and liabilities denominated in currencies other than the functional currency of our foreign subsidiaries. We entered into foreign exchange forward contracts that are scheduled to mature in the second quarter of 2024. Realized gains or losses and changes in the estimated fair value of these derivative financial instruments are recorded in the caption "Foreign currency exchange gains (losses), net" in our unaudited consolidated statements of operations. Additional information related to the outstanding foreign exchange forward contracts not designated as hedging instruments was as follows: (in millions) March 31, 2024 December 31, 2023 Notional Fair Value Notional Fair Value Contracts outstanding $ 1,119 $ 2 $ 1,317 $ (8) The following table provides information on the location and amounts of realized and unrealized pre-tax gains and losses on the other derivative financial instruments for the three months ended March 31: Location of Net Gains (Losses) on Derivative Instruments Amount of Net Gains (Losses) on Derivative Instruments (in millions) 2024 2023 Foreign exchange forward contracts – Not designated as hedging instruments Foreign currency exchange gains (losses), net $ 31 $ (10) The related cash flow impacts of all the derivative activities are reflected as cash flows from operating activities.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
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 March 31, 2024: (in millions) Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 411 $ — $ — $ 411 Time deposits — 470 — 470 Short-term investments: Time deposits — 1 — 1 Equity investment security 11 — — 11 Other current assets: Foreign exchange forward contracts — 25 — 25 Other noncurrent assets Foreign exchange forward contracts — 8 — 8 Accrued expenses and other current liabilities: Foreign exchange forward contracts — (3) — (3) The following table summarizes the financial assets and (liabilities) measured at fair value on a recurring basis as of December 31, 2023: (in millions) Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 327 $ — $ — $ 327 Time deposits — 834 — 834 Short-term investments: Equity investment security 11 — — 11 Other current assets: Foreign exchange forward contracts — 15 — 15 Long-term investments: Restricted time deposits (1) — 355 — 355 Other noncurrent assets: Foreign exchange forward contracts — 5 — 5 Accrued expenses and other current liabilities: Foreign exchange forward contracts — (14) — (14) Contingent consideration liabilities — — (30) (30) Other noncurrent liabilities: Foreign exchange forward contracts — (1) — (1) (1) Se e Note 8 . The following table summarizes the changes in Level 3 contingent consideration liabilities for the three months ended: (in millions) March 31, 2024 March 31, 2023 Beginning balance $ 30 $ 22 Change in fair value recognized in SG&A expenses — 12 Payments (30) — Ending balance $ — $ 34 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 carrying value of the time deposits approximated fair value as of March 31, 2024 and December 31, 2023. 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 three months ended March 31, 2024 and the year ended December 31, 2023, there were no transfers among Level 1, Level 2 or Level 3 financial assets and liabilities.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Changes in "Accumulated other comprehensive income (loss)" by component were as follows for the three months ended March 31, 2024: (in millions) Before Tax Tax Net of Tax Foreign currency translation adjustments: Beginning balance $ (109) $ 5 $ (104) Change in foreign currency translation adjustments (74) 1 (73) Ending balance $ (183) $ 6 $ (177) Unrealized gains and losses on cash flow hedges: Beginning balance $ 13 $ (3) $ 10 Unrealized gains arising during the period 15 (4) 11 Ending balance $ 28 $ (7) $ 21 Accumulated other comprehensive income (loss): Beginning balance $ (96) $ 2 $ (94) Other comprehensive income (loss) (59) (3) (62) Ending balance $ (155) $ (1) $ (156) Changes in "Accumulated other comprehensive income (loss)" by component were as follows for the three months ended March 31, 2023: (in millions) Before Tax Tax Net of Tax Foreign currency translation adjustments: Beginning balance $ (256) $ 8 $ (248) Change in foreign currency translation adjustments 41 2 43 Ending balance $ (215) $ 10 $ (205) Unrealized gains and losses on cash flow hedges: Beginning balance $ (68) $ 17 $ (51) Unrealized gains arising during the period 33 (8) 25 Reclassifications of net loss to: Cost of revenues 11 (3) 8 SG&A expenses 1 — 1 Net change 45 (11) 34 Ending balance $ (23) $ 6 $ (17) Accumulated other comprehensive income (loss): Beginning balance $ (324) $ 25 $ (299) Other comprehensive income (loss) 86 (9) 77 Ending balance $ (238) $ 16 $ (222)

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
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 DTSA and copyright infringement claims for Syntel’s misuse of TriZetto’s proprietary technology. The parties’ claims were narrowed by the court and the case was tried before a jury, which on October 27, 2020 returned a verdict in favor of Cognizant in the amount of $855 million, including $570 million in punitive damages. On April 20, 2021, the USDC-SDNY issued a post-trial order that, among other things, affirmed the jury’s award of $285 million in actual damages, but reduced the award of punitive damages from $570 million to $285 million, thereby reducing the overall damages award from $855 million to $570 million. The USDC-SDNY subsequently issued a final judgment consistent with the April 20 th order. On May 26, 2021, Syntel filed a notice of appeal to the Second Circuit, and on June 3, 2021 the USDC-SDNY stayed execution of judgment pending appeal. On May 25, 2023, the Second Circuit issued an opinion affirming in part and vacating in part the judgment of the USDC-SDNY and remanding the case for further proceedings consistent with its opinion. The Second Circuit affirmed the judgment in all respects on liability but vacated the $570 million award that had been based on avoided development costs under the DTSA, and it remanded the case to the USDC-SDNY for further evaluation of damages. On June 23, 2023, the Second Circuit issued its mandate returning the case to the USDC-SDNY. On March 13, 2024, the USDC-SDNY issued a ruling that vacates the alternate compensatory damages awards that were within the scope of the Second Circuit’s remand and awards TriZetto and Cognizant approximately $15 million in attorney’s fees. The USDC-SDNY additionally stayed entry of final judgment to allow the parties time to file any follow-on motions. TriZetto and Cognizant will continue to vigorously pursue our claims against Syntel. We will not record any 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 e xpenses" in our unaudited consolidated statement of operations. There is significant uncertainty as to how the liability should be calculated as it is impacted by multiple variables, including the period of assessment, the application with respect to certain current and former employees and whether interest and penalties may be assessed. Since the ruling, a variety of trade associations and industry groups have advocated to the Indian government, highlighting the harm to the information technology sector, other industries and job growth in India that would result from a retroactive application of the ruling. It is possible the Indian government will review the matter and there is a substantial question as to whether the Indian government will apply the SCI’s ruling on a retroactive basis. As such, the ultimate amount of our obligation may be materially different from the amount accrued. On October 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 complaint 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 8 for information relating to the ITD Dispute. Many of our engagements involve projects that are critical to the operations of our clients’ business and provide benefits that are difficult to quantify. Any failure in a client’s systems or our failure to meet our contractual obligations to our clients, including any breach involving a client’s confidential information or sensitive data, or our obligations under applicable laws or regulations could result in a claim for substantial damages against us, regardless of our responsibility for such failure. Although 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 available in sufficient amounts to cover one or more large claims, or that the insurer will not disclaim coverage as to any future claim. The successful assertion of one or more large claims against us that exceed or are not covered by our insurance coverage or changes in our insurance policies, including premium increases or the imposition of large deductible or co-insurance requirements, could have a material adverse effect on our business, results of operations, financial position and cash flows for a particular period.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2024
Segment Reporting [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, 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 CODM 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. Corporate expenses, expenses related to our NextGen program, a portion of depreciation and amortization and the impact of the settlements of the cash flow hedges are not allocated to individual segments in internal management reports used by the CODM. 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, we do not disclose assets by segment as a significant portion of the assets is used interchangeably among the segments and the CODM does not review such information. For revenues by reportable segment and geographic area, see Note 2 . Segment operating profits by reportable segment were as follows for the three months ended March 31: (in millions) 2024 2023 Financial Services $ 279 $ 306 Health Sciences 311 327 Products and Resources 228 215 Communications, Media and Technology 137 158 Total segment operating profit 955 1,006 Less: unallocated costs 260 304 Income from operations $ 695 $ 702 Geographic Area Information Long-lived assets by geographic area are as follows: As of (in millions) March 31, 2024 December 31, 2023 Long-lived Assets: (1) North America (2) $ 329 $ 335 Europe 85 90 Rest of World (3) 622 623 Total $ 1,036 $ 1,048 (1) Long-lived assets include property and equipment, net of accumulated depreciation and amortization. (2) Substantially all relates to the United States. (3) Substantially all relates to India.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Dividend

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net income	$ 546	$ 580

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Organization, Consolidation and

Organization, Consolidation and Presentation of Financial Statements (Policies)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recently Adopted/New Accounting Pronouncements	New Accounting Pronouncements Date Issued and Topic Effective Date Description Impact November 2023 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures Annual period starting in 2024 and interim periods starting in 2025 Retrospective basis The standard requires enhanced segment disclosures but does not change the definition of a segment or the guidance for determining a reportable segment. The amendments require disclosure of significant segment expenses regularly provided to the CODM included within segment operating profit or loss and a description of how the CODM utilizes segment operating profit or loss to assess segment performance and allocating resources. The new standard also allows companies to disclose multiple measures of segment profit or loss if those measures are used to allocate resources. The Company is currently evaluating the impact of the new standard on its disclosures. December 2023 Income Taxes (Topic 740): Improvements to Income Tax Disclosures Annual period starting in 2025 Prospective basis although retrospective application is permitted The standard requires enhanced income tax disclosures primarily related to the income tax rate reconciliation and income taxes paid information. The Company is currently evaluating the impact of the new standard on its disclosures.

Revenues and Trade Accounts R_2

Revenues and Trade Accounts Receivable (Tables)	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Capitalized Costs to Fulfill Contract with Customer	The following table shows significant movements in the capitalized costs to fulfill for the three months ended March 31: (in millions) 2024 2023 Beginning balance $ 245 $ 265 Costs capitalized 14 15 Amortization expense (24) (22) Ending balance $ 235 $ 258 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 (current and noncurrent) for the three months ended March 31: (in millions) 2024 2023 Beginning balance $ 316 $ 326 Revenues recognized during the period but not billed 248 248 Amounts reclassified to trade accounts receivable (180) (223) Amounts acquired in business combinations — 9 Ending balance $ 384 $ 360 The table below shows significant movements in the deferred revenue balances (current and noncurrent) for the three months ended March 31: (in millions) 2024 2023 Beginning balance $ 427 $ 417 Amounts billed but not recognized as revenues 311 322 Revenues recognized related to the beginning balance of deferred revenue (262) (251) Amounts acquired in business combinations 9 13 Ending balance $ 485 $ 501
Disaggregation of Revenue	Three Months Ended (in millions) Financial Services Health Sciences Products and Resources Communications, Media and Technology Total Revenues Geography: North America $ 977 $ 1,209 $ 773 $ 562 $ 3,521 United Kingdom 143 44 131 138 456 Continental Europe 151 135 145 52 483 Europe - Total 294 179 276 190 939 Rest of World 114 28 84 74 300 Total $ 1,385 $ 1,416 $ 1,133 $ 826 $ 4,760 Service line: Consulting and technology services $ 953 $ 802 $ 736 $ 464 $ 2,955 Outsourcing services 432 614 397 362 1,805 Total $ 1,385 $ 1,416 $ 1,133 $ 826 $ 4,760 Type of contract: Time and materials $ 783 $ 490 $ 470 $ 467 $ 2,210 Fixed-price 556 670 582 328 2,136 Transaction or volume-based 46 256 81 31 414 Total $ 1,385 $ 1,416 $ 1,133 $ 826 $ 4,760 Three Months Ended (in millions) Financial Services Health Sciences Products and Resources Communications, Media and Technology Total Revenues Geography: North America $ 1,033 $ 1,248 $ 741 $ 523 $ 3,545 United Kingdom 162 37 132 147 478 Continental Europe 152 124 150 35 461 Europe - Total 314 161 282 182 939 Rest of World 129 24 95 80 328 Total $ 1,476 $ 1,433 $ 1,118 $ 785 $ 4,812 Service line: Consulting and technology services $ 1,000 $ 812 $ 732 $ 442 $ 2,986 Outsourcing services 476 621 386 343 1,826 Total $ 1,476 $ 1,433 $ 1,118 $ 785 $ 4,812 Type of contract: Time and materials $ 861 $ 490 $ 445 $ 464 $ 2,260 Fixed-price 545 650 585 293 2,073 Transaction or volume-based 70 293 88 28 479 Total $ 1,476 $ 1,433 $ 1,118 $ 785 $ 4,812
Reinsurance Recoverable, Allowance for Credit Loss	The following table presents the activity in the allowance for credit losses for trade accounts receivable for the three months ended March 31: (in millions) 2024 2023 Beginning balance $ 32 $ 43 Credit loss expense (1) 1 4 Write-offs charged against the allowance (3) (11) Ending balance $ 30 $ 36 (1) Reported in "Selling, general and administrative expenses" in our unaudited consolidated statements of operations.

Business Combinations (Tables)

Business Combinations (Tables)	3 Months Ended
	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
Schedule of Assets and Liabilities Assumed	The allocations of preliminary purchase price to the fair value of the aggregate assets acquired and li abilities assumed were as follows: (in millions) Thirdera Weighted Average Useful Life Cash $ 8 Trade accounts receivable 22 Other current assets 10 Property and equipment and other noncurrent assets 2 Non-deductible goodwill 178 Tax-deductible goodwill 167 Customer relationship assets 73 8.0 years Other intangible assets 1 1.0 year Current liabilities (29) Noncurrent liabilities (3) Purchase price $ 429

Restructuring and Related Activ

Restructuring and Related Activities (Tables)	3 Months Ended
	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
NextGen Charges	Three Months Ended (in millions) March 31, 2024 Employee separation costs $ 8 Facility exit costs (1) 14 Third party and other costs (2) 1 Total restructuring charges $ 23 (1) Facility exit costs include lease restructuring of $12 million and related accelerated depreciation charges of $2 million. (2)
NextGen Charges Roll Forward	Changes in our accrued employee separation costs included in "Accrued expenses and other current liabilities" in our consolidated statements of financial position are presented in the table below for the three months ended March 31: (in millions) 2024 Beginning balance $ 42 Employee separation costs accrued 8 Payments made (21) Ending balance $ 29

Accrued Expenses And Other Cu_2

Accrued Expenses And Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2024
Payables and Accruals [Abstract]
Accrued Expenses And Other Current Liabilities	Accrued expenses and other current liabilities were as follows: (in millions) March 31, 2024 December 31, 2023 Compensation and benefits $ 1,158 $ 1,511 Customer volume and other incentives 291 241 Income taxes 30 27 Professional fees 153 146 Other 464 500 Total accrued expenses and other current liabilities $ 2,096 $ 2,425

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Summary of Long-term Debt	The following table summarizes the long-term debt balances as of: (in millions) March 31, 2024 December 31, 2023 Term Loan $ 634 $ 642 Less: Current maturities (33) (33) Unamortized deferred financing costs (3) (3) Long-term debt, net of current maturities $ 598 $ 606

Income Taxes Income Taxes (Tabl

Income Taxes Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rates	Our effective income tax rates were as follows: Three Months Ended 2024 2023 Effective income tax rate 24.8 % 21.4 %

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Location And Fair Values Of Derivative Financial Instruments In Our Condensed Consolidated Statements Of Financial Position	The following table provides information on the location and fair values of derivative financial instruments included in our unaudited consolidated statements of financial position as of: (in millions) March 31, 2024 December 31, 2023 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 $ 21 $ — $ 14 $ — Other noncurrent assets 8 — 5 — Accrued expenses and other current liabilities — 1 — 5 Other noncurrent liabilities — — — 1 Total 29 1 19 6 Foreign exchange forward contracts – Not designated as hedging instruments Other current assets 4 — 1 — Accrued expenses and other current liabilities — 2 — 9 Total 4 2 1 9 Total $ 33 $ 3 $ 20 $ 15
Notional value of outstanding contracts by year of maturity	The notional value of the outstanding contracts by year of maturity was as follows: (in millions) March 31, 2024 December 31, 2023 2024 1,583 $ 1,878 2025 1,165 1,020 2026 130 — Total notional value of contracts outstanding (1) $ 2,878 $ 2,898
Location And Amounts Of Pre-Tax Gains (Losses) on Cash Flow Hedges	The following table provides information on the location and amounts of pre-tax gains and losses on our cash flow hedges for the three months ended March 31: (in millions) Change in Location of Net (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (effective portion) Net (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (effective portion) 2024 2023 2024 2023 Foreign exchange forward and option contracts – Designated as cash flow hedging instruments $ 15 $ 33 Cost of revenues $ — $ (11) SG&A expenses — (1) Total $ — $ (12)
Additional Information Related To Outstanding Contracts Not Designated As Hedging Instruments	Additional information related to the outstanding foreign exchange forward contracts not designated as hedging instruments was as follows: (in millions) March 31, 2024 December 31, 2023 Notional Fair Value Notional Fair Value Contracts outstanding $ 1,119 $ 2 $ 1,317 $ (8)
Location And Amounts Of Pre-Tax Gains (Losses) On Derivative Financial Instruments Not Designated As Hedges	The following table provides information on the location and amounts of realized and unrealized pre-tax gains and losses on the other derivative financial instruments for the three months ended March 31: Location of Net Gains (Losses) on Derivative Instruments Amount of Net Gains (Losses) on Derivative Instruments (in millions) 2024 2023 Foreign exchange forward contracts – Not designated as hedging instruments Foreign currency exchange gains (losses), net $ 31 $ (10)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
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 March 31, 2024: (in millions) Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 411 $ — $ — $ 411 Time deposits — 470 — 470 Short-term investments: Time deposits — 1 — 1 Equity investment security 11 — — 11 Other current assets: Foreign exchange forward contracts — 25 — 25 Other noncurrent assets Foreign exchange forward contracts — 8 — 8 Accrued expenses and other current liabilities: Foreign exchange forward contracts — (3) — (3) The following table summarizes the financial assets and (liabilities) measured at fair value on a recurring basis as of December 31, 2023: (in millions) Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 327 $ — $ — $ 327 Time deposits — 834 — 834 Short-term investments: Equity investment security 11 — — 11 Other current assets: Foreign exchange forward contracts — 15 — 15 Long-term investments: Restricted time deposits (1) — 355 — 355 Other noncurrent assets: Foreign exchange forward contracts — 5 — 5 Accrued expenses and other current liabilities: Foreign exchange forward contracts — (14) — (14) Contingent consideration liabilities — — (30) (30) Other noncurrent liabilities: Foreign exchange forward contracts — (1) — (1) (1) Se e Note 8 .
Summary of Changes in Level 3 Contingent Consideration Liabilities	The following table summarizes the changes in Level 3 contingent consideration liabilities for the three months ended: (in millions) March 31, 2024 March 31, 2023 Beginning balance $ 30 $ 22 Change in fair value recognized in SG&A expenses — 12 Payments (30) — Ending balance $ — $ 34

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Changes in "Accumulated other comprehensive income (loss)" by component were as follows for the three months ended March 31, 2024: (in millions) Before Tax Tax Net of Tax Foreign currency translation adjustments: Beginning balance $ (109) $ 5 $ (104) Change in foreign currency translation adjustments (74) 1 (73) Ending balance $ (183) $ 6 $ (177) Unrealized gains and losses on cash flow hedges: Beginning balance $ 13 $ (3) $ 10 Unrealized gains arising during the period 15 (4) 11 Ending balance $ 28 $ (7) $ 21 Accumulated other comprehensive income (loss): Beginning balance $ (96) $ 2 $ (94) Other comprehensive income (loss) (59) (3) (62) Ending balance $ (155) $ (1) $ (156) Changes in "Accumulated other comprehensive income (loss)" by component were as follows for the three months ended March 31, 2023: (in millions) Before Tax Tax Net of Tax Foreign currency translation adjustments: Beginning balance $ (256) $ 8 $ (248) Change in foreign currency translation adjustments 41 2 43 Ending balance $ (215) $ 10 $ (205) Unrealized gains and losses on cash flow hedges: Beginning balance $ (68) $ 17 $ (51) Unrealized gains arising during the period 33 (8) 25 Reclassifications of net loss to: Cost of revenues 11 (3) 8 SG&A expenses 1 — 1 Net change 45 (11) 34 Ending balance $ (23) $ 6 $ (17) Accumulated other comprehensive income (loss): Beginning balance $ (324) $ 25 $ (299) Other comprehensive income (loss) 86 (9) 77 Ending balance $ (238) $ 16 $ (222)

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Segment Operating Profit	Segment operating profits by reportable segment were as follows for the three months ended March 31: (in millions) 2024 2023 Financial Services $ 279 $ 306 Health Sciences 311 327 Products and Resources 228 215 Communications, Media and Technology 137 158 Total segment operating profit 955 1,006 Less: unallocated costs 260 304 Income from operations $ 695 $ 702
Revenues And Long-Lived Assets By Geographic Area	Long-lived assets by geographic area are as follows: As of (in millions) March 31, 2024 December 31, 2023 Long-lived Assets: (1) North America (2) $ 329 $ 335 Europe 85 90 Rest of World (3) 622 623 Total $ 1,036 $ 1,048 (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.

Revenues and Trade Accounts R_3

Revenues and Trade Accounts Receivable - Capitalized Costs to Fulfill Contract with Customer (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Capitalized Contract Cost, Net [Roll Forward]
Beginning balance	$ 245	$ 265
Amortization expense	24	22
Costs capitalized	14	15
Ending balance	$ 235	$ 258

Revenues and Trade Accounts R_4

Revenues and Trade Accounts Receivable - Significant Movements in Contract Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Contract with Customer, Asset, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 316	$ 326
Revenues recognized during the period but not billed	248	248
Amounts reclassified to trade accounts receivable	180	223
Amounts acquired in business combinations	0	9
Ending balance	$ 384	$ 360

Revenues and Trade Accounts R_5

Revenues and Trade Accounts Receivable - Significant Movements in Deferred Revenue Balances (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Contract with Customer, Liability [Roll Forward]
Beginning balance	$ 427	$ 417
Amounts billed but not recognized as revenues	311	322
Revenues recognized related to the beginning balance of deferred revenue	262	251
Amounts acquired in business combinations	9	13
Ending balance	$ 485	$ 501

Revenues and Trade Accounts R_6

Revenues and Trade Accounts Receivable - Remaining Performance Obligations Narrative (Details) $ in Millions	Mar. 31, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation	$ 4,263
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01 | Revenue Remaining Performance Obligation Period One
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	55%
Revenue, remaining performance obligation, period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01 | Revenue Remaining Performance Obligation Period Two
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	85%
Revenue, remaining performance obligation, period	5 years

Revenues and Trade Accounts R_7

Revenues and Trade Accounts Receivable - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 4,760	$ 4,812
Time-and-materials
Disaggregation of Revenue [Line Items]
Revenue	2,210	2,260
Fixed-price
Disaggregation of Revenue [Line Items]
Revenue	2,136	2,073
Transaction or volume-based
Disaggregation of Revenue [Line Items]
Revenue	414	479
North America
Disaggregation of Revenue [Line Items]
Revenue	3,521	3,545
United Kingdom
Disaggregation of Revenue [Line Items]
Revenue	456	478
Europe, excluding United Kingdom
Disaggregation of Revenue [Line Items]
Revenue	483	461
Europe
Disaggregation of Revenue [Line Items]
Revenue	939	939
Rest of World
Disaggregation of Revenue [Line Items]
Revenue	300	328
Consulting And Technology Services
Disaggregation of Revenue [Line Items]
Revenue	2,955	2,986
Outsourcing Services
Disaggregation of Revenue [Line Items]
Revenue	1,805	1,826
Financial Services
Disaggregation of Revenue [Line Items]
Revenue	1,385	1,476
Financial Services | Time-and-materials
Disaggregation of Revenue [Line Items]
Revenue	783	861
Financial Services | Fixed-price
Disaggregation of Revenue [Line Items]
Revenue	556	545
Financial Services | Transaction or volume-based
Disaggregation of Revenue [Line Items]
Revenue	46	70
Financial Services | North America
Disaggregation of Revenue [Line Items]
Revenue	977	1,033
Financial Services | United Kingdom
Disaggregation of Revenue [Line Items]
Revenue	143	162
Financial Services | Europe, excluding United Kingdom
Disaggregation of Revenue [Line Items]
Revenue	151	152
Financial Services | Europe
Disaggregation of Revenue [Line Items]
Revenue	294	314
Financial Services | Rest of World
Disaggregation of Revenue [Line Items]
Revenue	114	129
Financial Services | Consulting And Technology Services
Disaggregation of Revenue [Line Items]
Revenue	953	1,000
Financial Services | Outsourcing Services
Disaggregation of Revenue [Line Items]
Revenue	432	476
Products and Resources
Disaggregation of Revenue [Line Items]
Revenue	1,133	1,118
Products and Resources | Time-and-materials
Disaggregation of Revenue [Line Items]
Revenue	470	445
Products and Resources | Fixed-price
Disaggregation of Revenue [Line Items]
Revenue	582	585
Products and Resources | Transaction or volume-based
Disaggregation of Revenue [Line Items]
Revenue	81	88
Products and Resources | North America
Disaggregation of Revenue [Line Items]
Revenue	773	741
Products and Resources | United Kingdom
Disaggregation of Revenue [Line Items]
Revenue	131	132
Products and Resources | Europe, excluding United Kingdom
Disaggregation of Revenue [Line Items]
Revenue	145	150
Products and Resources | Europe
Disaggregation of Revenue [Line Items]
Revenue	276	282
Products and Resources | Rest of World
Disaggregation of Revenue [Line Items]
Revenue	84	95
Products and Resources | Consulting And Technology Services
Disaggregation of Revenue [Line Items]
Revenue	736	732
Products and Resources | Outsourcing Services
Disaggregation of Revenue [Line Items]
Revenue	397	386
Communication, Media and Technology
Disaggregation of Revenue [Line Items]
Revenue	826	785
Communication, Media and Technology | Time-and-materials
Disaggregation of Revenue [Line Items]
Revenue	467	464
Communication, Media and Technology | Fixed-price
Disaggregation of Revenue [Line Items]
Revenue	328	293
Communication, Media and Technology | Transaction or volume-based
Disaggregation of Revenue [Line Items]
Revenue	31	28
Communication, Media and Technology | North America
Disaggregation of Revenue [Line Items]
Revenue	562	523
Communication, Media and Technology | United Kingdom
Disaggregation of Revenue [Line Items]
Revenue	138	147
Communication, Media and Technology | Europe, excluding United Kingdom
Disaggregation of Revenue [Line Items]
Revenue	52	35
Communication, Media and Technology | Europe
Disaggregation of Revenue [Line Items]
Revenue	190	182
Communication, Media and Technology | Rest of World
Disaggregation of Revenue [Line Items]
Revenue	74	80
Communication, Media and Technology | Consulting And Technology Services
Disaggregation of Revenue [Line Items]
Revenue	464	442
Communication, Media and Technology | Outsourcing Services
Disaggregation of Revenue [Line Items]
Revenue	362	343
Healthcare Segment
Disaggregation of Revenue [Line Items]
Revenue	1,416	1,433
Healthcare Segment | Time-and-materials
Disaggregation of Revenue [Line Items]
Revenue	490	490
Healthcare Segment | Fixed-price
Disaggregation of Revenue [Line Items]
Revenue	670	650
Healthcare Segment | Transaction or volume-based
Disaggregation of Revenue [Line Items]
Revenue	256	293
Healthcare Segment | North America
Disaggregation of Revenue [Line Items]
Revenue	1,209	1,248
Healthcare Segment | United Kingdom
Disaggregation of Revenue [Line Items]
Revenue	44	37
Healthcare Segment | Europe, excluding United Kingdom
Disaggregation of Revenue [Line Items]
Revenue	135	124
Healthcare Segment | Europe
Disaggregation of Revenue [Line Items]
Revenue	179	161
Healthcare Segment | Rest of World
Disaggregation of Revenue [Line Items]
Revenue	28	24
Healthcare Segment | Consulting And Technology Services
Disaggregation of Revenue [Line Items]
Revenue	802	812
Healthcare Segment | Outsourcing Services
Disaggregation of Revenue [Line Items]
Revenue	$ 614	$ 621

Revenues and Trade Accounts R_8

Revenues and Trade Accounts Receivable - Trade Accounts And Allowance for Doubtful Accounts (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 32	$ 43
Credit loss expense (1)	1	4
Write-offs charged against the allowance	(3)	(11)
Ending Balance	$ 30	$ 36

Business Combinations Narrative

Business Combinations Narrative (Details)	Jan. 22, 2024
Thirdera
Business Acquisition [Line Items]
Ownership percentage of recently acquired businesses	100%

Business Combinations Allocatio

Business Combinations Allocation of Purchase Price (Details) - Thirdera $ in Millions	Jan. 22, 2024 USD ($)
Business Acquisition [Line Items]
Cash	$ 8
Trade accounts receivable	22
Other current assets	10
Property and equipment and other noncurrent assets	2
Non-deductible goodwill	178
Tax-deductible goodwill	167
Current liabilities	29
Noncurrent liabilities	3
Purchase price	429
Customer Relationships
Business Acquisition [Line Items]
Intangible assets acquired	$ 73
Weighted Average Useful Life	8 years
Other Intangible Assets [Member]
Business Acquisition [Line Items]
Intangible assets acquired	$ 1
Weighted Average Useful Life	1 year

Restructuring Charges - Summary

Restructuring Charges - Summary of Restructuring Charges (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Accrued Restructuring Costs
Restructuring charges	$ 23	$ 0
NextGen Program
Accrued Restructuring Costs
Restructuring charges	23		$ 229
Employee separation costs
Accrued Restructuring Costs
Restructuring charges	8
Employee separation costs | NextGen Program
Accrued Restructuring Costs
Restructuring charges	8
Facility exit costs | NextGen Program
Accrued Restructuring Costs
Restructuring charges	14
Lease restructuring	12
Accelerated depreciation	2
Third party and other costs | NextGen Program
Accrued Restructuring Costs
Restructuring charges	$ 1

Restructuring Charges - Narrati

Restructuring Charges - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Accrued Restructuring Costs
Restructuring charges	$ 23	$ 0
Employee separation costs
Accrued Restructuring Costs
Restructuring charges	8
NextGen Program
Accrued Restructuring Costs
Expected cost	300
Restructuring charges	23		$ 229
NextGen Program | Employee separation costs
Accrued Restructuring Costs
Restructuring charges	8
NextGen Program | Facility exit costs
Accrued Restructuring Costs
Restructuring charges	$ 14

Restructuring Charges - Restruc

Restructuring Charges - Restructuring Reserve (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Restructuring Reserve [Roll Forward]
Employee separation costs accrued	$ 23	$ 0
Employee separation costs
Restructuring Reserve [Roll Forward]
Beginning balance	42
Employee separation costs accrued	8
Payments made	(21)
Ending balance	$ 29

Investments (Details)

Investments (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Short-term investments:
Held-to-maturity investment securities		$ 3
Total short-term investments	$ 12	14
Long-term investments:
Equity method investments	77	74
Long-term Investments, Total	83	435
Cost method investments	6	6
Restricted Cash Equivalents		96
Short-term Investments
Short-term investments:
Equity investment security	11	11
Held-to-maturity investment securities	0	3
Time Deposits	1	0
Long-term investments
Long-term investments:
Equity method investments	83	80
Restricted investments	$ 0	$ 355

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity investment securities		$ 3
Fair Value	$ 0	3
Equity method investments	77	74
Cost method investments	6	6
Short-term Investments
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity investment securities	$ 0	$ 3

Investments (Schedule of Held-t

Investments (Schedule of Held-to-Maturity Securities) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity investment securities		$ 3
Fair Value	$ 0	$ 3

Accrued Expenses And Other Cu_3

Accrued Expenses And Other Current Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Compensation and benefits	$ 1,158	$ 1,511
Customer volume and other incentives	291	241
Income taxes	30	27
Professional fees	153	146
Other	464	500
Total accrued expenses and other current liabilities	$ 2,096	$ 2,425

Debt (Additional Disclosures) (

Debt (Additional Disclosures) (Details) $ in Millions, ₨ in Billions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023 USD ($)	Dec. 31, 2023 INR (₨)	Oct. 06, 2022 USD ($)
Credit Agreement | Term Loan
Line of Credit Facility [Line Items]
Principal amount of debt				$ 650
Base Rate | Credit Agreement
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0%
Term Benchmark | Credit Agreement
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.875%
Term Benchmark | Minimum | Credit Agreement
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.75%
Term Benchmark | Maximum | Credit Agreement
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.125%
Term Benchmark Without Debt Ratings | Minimum | Credit Agreement
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.875%
Term Benchmark Without Debt Ratings | Maximum | Credit Agreement
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.125%
Revolving Credit Facility | Credit Agreement | Unsecured Debt
Line of Credit Facility [Line Items]
Principal amount of debt				$ 1,850
Working Capital Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 180	₨ 15

Debt (Short-term Debt) (Details

Debt (Short-term Debt) (Details) $ in Millions, ₨ in Billions	Mar. 31, 2024 USD ($)	Dec. 31, 2023 INR (₨)	Dec. 31, 2023 USD ($)
Credit Agreement | Term Loan
Short-term Debt [Line Items]
Long-term Debt, Current Maturities	$ 33		$ 33
Working Capital Facility
Short-term Debt [Line Items]
Maximum borrowing capacity		₨ 15	$ 180

Debt (Long-term Debt) (Details)

Debt (Long-term Debt) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt, net of current maturities	$ 598	$ 606
Credit Agreement
Debt Instrument [Line Items]
Deferred financing costs	(3)	(3)
Term Loan | Credit Agreement
Debt Instrument [Line Items]
Term Loan	634	642
Current maturities	$ (33)	$ (33)

Income Taxes - Tax Rates (Detai

Income Taxes - Tax Rates (Details)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Effective Income Tax Rate	24.80%	21.40%

Income Taxes (Narrative) (One-t

Income Taxes (Narrative) (One-time Transaction) (Details) $ in Millions, ₨ in Billions	3 Months Ended		12 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2013 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 INR (₨)	Apr. 30, 2018 INR (₨)	Mar. 31, 2018 INR (₨)
One-time Transaction [Table] [Line Items]
Income tax expense	$ 179	$ 158
Restricted Cash Equivalents					$ 96
Long-term investments
One-time Transaction [Table] [Line Items]
Restricted investments	0				355
Indian Income Tax Department (ITD) | Foreign tax authority | 2013 India Share Repurchase
One-time Transaction [Table] [Line Items]
Foreign earnings repatriated				$ 523
Indian Income Tax Department (ITD) | Foreign tax authority | 2016 India Cash Remittance
One-time Transaction [Table] [Line Items]
Foreign earnings repatriated			$ 2,800
Income tax expense			$ 135
Income tax, disputed amount	396							₨ 33
Deposits assets | ₨							₨ 5
Desposits assets, percent disputed tax amount							15%
Indian Income Tax Department (ITD) | Foreign tax authority | 2016 India Cash Remittance | Other Current Assets
One-time Transaction [Table] [Line Items]
Deposits assets	$ 414				60
Indian Income Tax Department (ITD) | Foreign tax authority | 2016 India Cash Remittance | Long-term investments
One-time Transaction [Table] [Line Items]
Restricted investments					$ 355	₨ 30

Derivative Financial Instrume_3

Derivative Financial Instruments (Location And Fair Values Of Derivative Financial Instruments In Our Consolidated Statement Of Financial Position) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Derivative assets fair value	$ 33	$ 20
Derivative liabilities fair value	3	15
Not Designated as Hedging Instrument | Foreign Exchange Forward
Derivatives, Fair Value [Line Items]
Derivative assets fair value	4	1
Derivative liabilities fair value	2	9
Not Designated as Hedging Instrument | Foreign Exchange Forward | Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative assets fair value	4	1
Not Designated as Hedging Instrument | Foreign Exchange Forward | Accrued Expenses And Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities fair value	2	9
Cash Flow Hedging | Designated as Hedging Instrument [Member] | Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Derivative assets fair value	29	19
Derivative liabilities fair value	1	6
Cash Flow Hedging | Designated as Hedging Instrument [Member] | Foreign Exchange Contract | Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative assets fair value	21	14
Cash Flow Hedging | Designated as Hedging Instrument [Member] | Foreign Exchange Contract | Other Noncurrent Assets
Derivatives, Fair Value [Line Items]
Derivative assets fair value	8	5
Cash Flow Hedging | Designated as Hedging Instrument [Member] | Foreign Exchange Contract | Accrued Expenses And Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities fair value	1	5
Cash Flow Hedging | Designated as Hedging Instrument [Member] | Foreign Exchange Contract | Other Noncurrent Liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities fair value	$ 0	$ 1

Derivative Financial Instrume_4

Derivative Financial Instruments (Narrative) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Cash flow hedge gains (losses) expected to be reclassified to earnings within the next 12 months	$ 15

Derivative Financial Instrume_5

Derivative Financial Instruments (Notional Value Of Outstanding Cash Flow Hedge Contracts By Year Of Maturity And Net Unrealized (Loss) Gain Included In Accumulated Other Comprehensive Income) (Details) - Designated as Hedging Instrument [Member] - Cash Flow Hedging - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Foreign Exchange Contract
Derivative [Line Items]
Derivative, Notional Amount	$ 2,878	$ 2,898
Foreign Exchange Contract, Maturity 2024
Derivative [Line Items]
Derivative, Notional Amount	1,583	1,878
Foreign Exchange Contract, Maturity 2025
Derivative [Line Items]
Derivative, Notional Amount	1,165	1,020
Foreign Exchange Option
Derivative [Line Items]
Derivative, Notional Amount	50	45
Foreign Exchange Contract, Maturity 2026
Derivative [Line Items]
Derivative, Notional Amount	$ 130	$ 0

Derivative Financial Instrume_6

Derivative Financial Instruments (Location And Amounts Of Pre-Tax Gains (Losses) On Cash Flow Hedge Derivatives Financial Instruments) (Details) - Cash Flow Hedging - Designated as Hedging Instrument [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Net (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (effective portion)	$ 0	$ (12)
Cost Of Revenues
Derivative Instruments, Gain (Loss) [Line Items]
Net (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (effective portion)	0	(11)
Selling, General and Administrative Expenses
Derivative Instruments, Gain (Loss) [Line Items]
Net (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (effective portion)	0	(1)
Foreign Exchange Contract
Derivative Instruments, Gain (Loss) [Line Items]
Change in Derivative Gains and Losses Recognized in Accumulated Other Comprehensive Income (Loss) (effective portion)	$ 15	$ 33

Derivative Financial Instrume_7

Derivative Financial Instruments (Other Derivatives) (Details) - Not Designated as Hedging Instrument - Foreign Exchange Forward - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Derivative [Line Items]
Market Value	$ 2	$ (8)
Derivative, Notional Amount	$ 1,119	$ 1,317

Derivative Financial Instrume_8

Derivative Financial Instruments (Location And Amounts Of Pre-Tax Gains (Losses) On Derivative Financial Instruments Not Designated As Hedges) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
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 | Foreign Exchange Forward
Derivative Instruments, Gain (Loss) [Line Items]
Amount of net gains (losses) on derivative instruments	$ 31	$ (10)

Fair Value Measurements (Financ

Fair Value Measurements (Financial Assets And (Liabilities) Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Short-term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	$ 11		$ 11
Long-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted investments	0		355
Level 3 | Contingent Consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value	0	$ 34	30	$ 22
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings	0	12
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements	(30)	$ 0
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities			11
Recurring | Short-term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short term investments	1
Equity securities	11
Recurring | Other Current Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, assets	25		15
Recurring | Other Noncurrent Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, assets	8		5
Recurring | Other Noncurrent Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, liabilities			(1)
Recurring | Long-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted investments			355
Recurring | Other Current Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, liabilities	(3)		(14)
Contingent consideration liabilities			(30)
Recurring | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	411		327
Recurring | Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	470		834
Recurring | Level 1 | Short-term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short term investments	0
Equity securities	11		11
Recurring | Level 1 | Other Current Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, assets	0		0
Recurring | Level 1 | Other Noncurrent Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, assets	0		0
Recurring | Level 1 | Other Noncurrent Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, liabilities			0
Recurring | Level 1 | Other Current Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, liabilities	0		0
Contingent consideration liabilities			0
Recurring | Level 1 | Money market funds | Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	411		327
Recurring | Level 2 | Short-term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short term investments	1
Equity securities	0		0
Recurring | Level 2 | Other Current Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, assets	25		15
Recurring | Level 2 | Other Noncurrent Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, assets	8		5
Recurring | Level 2 | Other Noncurrent Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, liabilities			(1)
Recurring | Level 2 | Long-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted investments			355
Recurring | Level 2 | Other Current Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, liabilities	(3)		(14)
Contingent consideration liabilities			0
Recurring | Level 2 | Time deposits | Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	470		834
Recurring | Level 3 | Short-term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short term investments	0
Equity securities	0		0
Recurring | Level 3 | Other Current Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, assets	0		0
Recurring | Level 3 | Other Noncurrent Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, assets	0		0
Recurring | Level 3 | Other Noncurrent Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, liabilities			0
Recurring | Level 3 | Other Current Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, liabilities	$ 0		0
Contingent consideration liabilities			$ (30)

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 13,227	$ 12,309
Other Comprehensive Income (Loss), before Tax [Abstract]
Net change, Net of Tax Amount	(73)	43
Other comprehensive income (loss)	(62)	77
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Total stockholders’ equity	13,490	12,661
Foreign currency translation adjustments: [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
AOCI before tax, beginning balance	(109)	(256)
AOCI tax, beginning balance	5	8
Beginning balance	(104)	(248)
Other Comprehensive Income (Loss), before Tax [Abstract]
Net change, Before Tax Amount	(74)	41
Net change, Tax Effect	1	2
Other comprehensive income (loss)	(73)	43
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
AOCI before tax, ending balance	(183)	(215)
AOCI tax, ending balance	6	10
Total stockholders’ equity	(177)	(205)
Unrealized gains on cash flow hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
AOCI before tax, beginning balance	13	(68)
AOCI tax, beginning balance	(3)	17
Beginning balance	10	(51)
Other Comprehensive Income (Loss), before Tax [Abstract]
Net change, Before Tax Amount		45
Net change, Tax Effect		(11)
Other comprehensive income (loss)		34
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
OCI, before reclassifications, before tax	15	33
Other comprehensive income (loss) before reclassifications, tax	(4)	(8)
OCI, before reclassifications, net of tax	11	25
AOCI before tax, ending balance	28	(23)
AOCI tax, ending balance	(7)	6
Total stockholders’ equity	21	(17)
Unrealized gains on cash flow hedges | Cost of revenues
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Reclassification from AOCI, current period, before tax		11
Reclassification from AOCI, current period, tax		(3)
Reclassification from AOCI, current period, net of tax		8
Unrealized gains on cash flow hedges | Selling, general and administrative expenses
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Reclassification from AOCI, current period, before tax		1
Reclassification from AOCI, current period, tax		0
Reclassification from AOCI, current period, net of tax		1
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
AOCI before tax, beginning balance	(96)	(324)
AOCI tax, beginning balance	2	25
Beginning balance	(94)	(299)
Other Comprehensive Income (Loss), before Tax [Abstract]
Net change, Before Tax Amount	(59)	86
Net change, Tax Effect	(3)	(9)
Other comprehensive income (loss)	(62)	77
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
AOCI before tax, ending balance	(155)	(238)
AOCI tax, ending balance	(1)	16
Total stockholders’ equity	$ (156)	$ (222)

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Mar. 13, 2024	May 25, 2023	Apr. 20, 2021	Oct. 27, 2020	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2019
Other Commitments [Line Items]
Accrued Liabilities and Other Liabilities					$ 2,096	$ 2,425
Syntel Sterling Best Shores Mauritius Ltd.
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
Litigation Settlement Amount Vacated, Actual and Punitive Damages		$ 570
Syntel Sterling Best Shores Mauritius Ltd. | Attorney Fees
Other Commitments [Line Items]
Litigation settlement, amount awarded from other party	$ 15
India Defined Contribution Obligation
Other Commitments [Line Items]
Accrued Liabilities and Other Liabilities							$ 117

Segment Information (Revenues F

Segment Information (Revenues From External Customers And Segment Operating Profit) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Income from operations	$ 695	$ 702
Operating Segments
Segment Reporting Information [Line Items]
Income from operations	955	1,006
Operating Segments | Financial Services
Segment Reporting Information [Line Items]
Income from operations	279	306
Operating Segments | Healthcare Segment
Segment Reporting Information [Line Items]
Income from operations	311	327
Operating Segments | Products and Resources
Segment Reporting Information [Line Items]
Income from operations	228	215
Operating Segments | Communications, Media and Technology
Segment Reporting Information [Line Items]
Income from operations	137	158
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Unallocated costs	$ 260	$ 304

Segment Information (Long-Lived

Segment Information (Long-Lived Assets By Geographic Area) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Long-Lived Assets [Line Items]
Long-lived Assets	$ 1,036	$ 1,048
North America
Long-Lived Assets [Line Items]
Long-lived Assets	329	335
Europe
Long-Lived Assets [Line Items]
Long-lived Assets	85	90
Rest of World
Long-Lived Assets [Line Items]
Long-lived Assets	$ 622	$ 623

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares		3 Months Ended
	Apr. 30, 2024	Mar. 31, 2024	Mar. 31, 2023
Subsequent Event [Line Items]
Dividends declared per common share (in usd per share)		$ 0.30	$ 0.29
Subsequent Event
Subsequent Event [Line Items]
Dividends declared per common share (in usd per share)	$ 0.30