Moody's (MCO) 10-Q 30 Oct 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page shares in Millions	9 Months Ended
	Sep. 30, 2020shares
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	1-14037
Entity Registrant Name	Moody’s Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3998945
Entity Address, Address Line One	7 World Trade Center at 250 Greenwich Street
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10007
City Area Code	(212)
Local Phone Number	553-0300
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 (in shares)	187.8
Entity Central Index Key	0001059556
Document Fiscal Period Focus	Q3
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Common Stock, par value $0.01 per share
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	MCO
Security Exchange Name	NYSE
1.75% Senior Notes Due 2027
Entity Information [Line Items]
Title of 12(b) Security	1.75% Senior Notes Due 2027
Trading Symbol	MCO 27
Security Exchange Name	NYSE
0.950% Senior Notes Due 2030
Entity Information [Line Items]
Title of 12(b) Security	0.950% Senior Notes Due 2030
Trading Symbol	MCO 30
Security Exchange Name	NYSE

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Revenue	$ 1,356	$ 1,240	$ 4,081	$ 3,596
Expenses
Operating	364	350	1,066	1,032
Selling, general and administrative	271	292	879	848
Restructuring	23	(1)	20	58
Depreciation and amortization	56	48	163	150
Acquisition-Related Expenses	0	0	0	3
Loss pursuant to the divestiture of MAKS	0	2	9	11
Total expenses	714	691	2,137	2,102
Operating income	642	549	1,944	1,494
Non-operating (expense) income, net
Interest expense, net	(53)	(46)	(153)	(149)
Other non-operating income, net	10	10	38	12
Total non-operating expense, net	(43)	(36)	(115)	(137)
Income before provisions for income taxes	599	513	1,829	1,357
Provision for income taxes	132	130	366	290
Net income	467	383	1,463	1,067
Less: Net (loss) income attributable to noncontrolling interests	0	3	(1)	5
Net income attributable to Moody's	$ 467	$ 380	$ 1,464	$ 1,062
Earnings per share attributable to Moody's common shareholders
Basic (in usd per share)	$ 2.49	$ 2.01	$ 7.80	$ 5.60
Diluted (in usd per share)	$ 2.47	$ 1.99	$ 7.73	$ 5.54
Weighted average number of shares outstanding
Basic (in shares)	187.8	189	187.6	189.6
Diluted (in shares)	189.3	191.1	189.3	191.8

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net Income	$ 467	$ 383	$ 1,463	$ 1,067
Foreign Currency Adjustments:
Foreign currency translation adjustment - Pre Tax	204	(194)	107	(179)
Foreign currency translation adjustments - Tax	(17)	0	(11)	0
Foreign currency translation adjustments - Net of Tax	187	(194)	96	(179)
Net gains (losses) on net investment hedges - Pre Tax	(191)	136	(169)	130
Net gains (losses) on net investment hedges, Tax	48	(34)	42	(33)
Net gains (losses) on net investment hedges, Net of Tax	(143)	102	(127)	97
Net investment hedges - reclassification of gains included in net income - Pre Tax	0	(1)	0	(1)
Net investment hedges - reclassification of gains included in net income - Tax	0	0	0	0
Net investment hedges - reclassification of gains included in net income - Net of Tax	0	(1)	0	(1)
Cash Flow Hedges:
Net realized and unrealized (losses) gains on cash flow hedges - Pre Tax			(68)	0
Net realized and unrealized (losses) gains on cash flow hedges - Tax			18	0
Net realized and unrealized (losses) gains on cash flow hedges - Net of Tax			(50)	0
Reclassification of losses (gains) included in net income - Pre Tax			1	0
Reclassification of losses (gains) included in net income - Tax			0	0
Reclassification of losses (gains) included in net income - Net of Tax			1	0
Pension and Other Retirement Benefits:
Amortization of actuarial losses and prior service costs included in net income - Pre Tax	2	1	5	3
Amortization of actuarial losses and prior service costs included in net income - Tax	0	0	(1)	(1)
Amortization of actuarial losses and prior service costs included in net income - Net of Tax	2	1	4	2
Net actuarial (losses) gains and prior service costs - Pre Tax	(9)	0	(1)	(2)
Net actuarial (losses) gains and prior service costs - Tax	2	0	0	1
Net actuarial (losses) gains and prior service costs - Net of Tax	(7)	0	(1)	(1)
Total other comprehensive income (loss) - Pre Tax	6	(58)	(125)	(49)
Total other comprehensive income (loss) - Tax	33	(34)	48	(33)
Total other comprehensive income (loss) - Net of Tax	39	(92)	(77)	(82)
Comprehensive income	506	291	1,386	985
Less: comprehensive income attributable to noncontrolling interests	1	3	(12)	15
Comprehensive Income Attributable to Moody's	$ 505	$ 288	$ 1,398	$ 970

CONSOLIDATED BALANCE SHEETS (UN

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 2,492	$ 1,832
Short-term investments	96	98
Accounts receivable, net of allowance for credit losses of $41 in 2020 and $20 in 2019	1,360	1,419
Other current assets	333	330
Total current assets	4,281	3,679
Property and equipment, net of accumulated depreciation of $907 in 2020 and $839 in 2019	282	292
Operating lease right-of-use assets	410	456
Goodwill	4,282	3,722
Intangible assets, net	1,717	1,498
Deferred tax assets, net	232	229
Other assets	468	389
Total assets	11,672	10,265
Current liabilities:
Accounts payable and accrued liabilities	712	773
Current portion of operating lease liabilities	91	89
Deferred revenue	918	1,050
Total current liabilities	1,721	1,912
Non-current portion of deferred revenue	102	112
Long-term debt	6,363	5,581
Deferred tax liabilities, net	385	357
Uncertain tax positions	471	477
Operating lease liabilities	439	485
Other liabilities	498	504
Total liabilities	9,979	9,428
Contingencies (Note 19)
Redeemable noncontrolling interest	5	6
Shareholders' equity:
Preferred stock, par value $0.01 per share; 10,000,000 shares authorized; no shares issued and outstanding	0	0
Common stock	3	3
Capital surplus	699	642
Retained earnings	10,804	9,656
Treasury stock, at cost; 155,064,080 and 155,215,143 shares of common stock at September 30, 2020 and December 31, 2019	(9,505)	(9,250)
Accumulated other comprehensive loss	(504)	(439)
Total Moody's shareholders' equity	1,497	612
Noncontrolling interests	191	219
Total shareholders' equity	1,688	831
Total liabilities, noncontrolling interests and shareholders' equity	11,672	10,265
Series Common Stock
Shareholders' equity:
Common stock	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Accounts receivable, allowances	$ 41	$ 20
Accumulated depreciation, property and equipment	$ 907	$ 839
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	342,902,272	342,902,272
Treasury stock, shares (in shares)	155,064,080	155,215,143
Series Common Stock
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, shares issued (in shares)	0	0
Common stock, shares outstanding (in shares)	0	0

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities
Net Income	$ 1,463	$ 1,067
Reconciliation of net income to net cash provided by operating activities:
Depreciation and amortization	163	150
Stock-based compensation	110	103
Deferred income taxes	(1)	(22)
ROU Asset impairment & other non-cash restructuring/impairment charges	23	38
Loss pursuant to the divestiture of MAKS	9	11
Settlement of treasury rate lock	(68)	0
Prepayment penalty relating to early redemption of debt	24	0
Changes in assets and liabilities:
Accounts receivable	73	36
Other current assets	(8)	(8)
Other assets	(89)	(32)
Accounts payable and accrued liabilities	(28)	(100)
Deferred revenue	(171)	(96)
Unrecognized tax benefits and other non-current tax liabilities	(9)	(17)
Other liabilities	(3)	66
Net cash provided by operating activities	1,488	1,196
Cash flows from investing activities
Capital additions	(83)	(61)
Purchases of investments	(130)	(111)
Sales and maturities of investments	57	139
Cash paid for acquisitions, net of cash acquired	(699)	(121)
Receipts from settlements of net investment hedges	2	4
Net cash used in investing activities	(853)	(150)
Cash flows from financing activities
Issuance of notes	1,491	0
Repayment of notes	(800)	(450)
Issuance of commercial paper	789	1,307
Repayment of commercial paper	(792)	(1,310)
Proceeds from stock-based compensation plans	41	37
Repurchase of shares related to stock-based compensation	(101)	(76)
Treasury shares	(253)	(728)
Dividends	(315)	(284)
Debt issuance costs, extinguishment costs and related fees	(39)	0
Dividends to noncontrolling interest	(1)	(1)
Payment to acquire noncontrolling interests	(17)	(12)
Net cash provided by (used in) financing activities	3	(1,517)
Reclassification of cash to assets held for sale	0	(11)
Effect of exchange rate changes on cash and cash equivalents	22	(25)
Increase (decrease) in cash and cash equivalents	660	(507)
Cash and cash equivalents, beginning of period	1,832	1,685
Cash and cash equivalents, end of period	$ 2,492	$ 1,178

CONSOLIDATED STATEMENT OF SHARE

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (UNAUDITED) - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Capital Surplus	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Loss	Total Moody's Shareholders' Equity	Non- Controlling Interests	Cumulative Effect, Period of Adoption, Adjustment	Cumulative Effect, Period of Adoption, AdjustmentRetained Earnings	Cumulative Effect, Period of Adoption, AdjustmentAccumulated Other Comprehensive Loss	Cumulative Effect, Period of Adoption, AdjustmentTotal Moody's Shareholders' Equity
Beginning Balance (in shares) at Dec. 31, 2018		342.9			151.6
Beginning Balance at Dec. 31, 2018	$ 656	$ 3	$ 601	$ 8,594	$ (8,313)	$ (426)	$ 459	$ 197	$ 0	$ 20	$ (20)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,067			1,062			1,062	5
Dividends	(286)			(285)			(285)	(1)
Stock-based compensation	103		103				103
Shares issued for stock-based compensation plans at average cost, net	(39)		(71)		$ 32		(39)
Shares issued for stock-based compensation plans at average cost, net (in shares)					1.5
Purchase of noncontrolling interest	(12)		(9)				(9)	(3)
Non-controlling interest resulting from majority acquisition of Vigeo Eiris	17						0	17
Treasury shares repurchased (in shares)					(4.1)
Treasury shares repurchased	(728)		(16)		$ (712)		(728)
Currency translation adjustment, net of net investment hedge activity (net of tax)	(82)					(92)	(92)	10
Net actuarial gains (losses) and prior service costs	(1)					(1)	(1)
Amortization of prior service costs and actuarial losses	2					2	2
Ending Balance (in shares) at Sep. 30, 2019		342.9			154.2
Ending Balance at Sep. 30, 2019	$ 697	$ 3	608	9,391	$ (8,993)	(537)	472	225
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Beginning Balance (in shares) at Dec. 31, 2018		342.9			151.6
Beginning Balance at Dec. 31, 2018	$ 656	$ 3	601	8,594	$ (8,313)	(426)	459	197	0	20	$ (20)	0
Ending Balance (in shares) at Dec. 31, 2019		342.9			155.2
Ending Balance at Dec. 31, 2019	831	$ 3	642	9,656	$ (9,250)	(439)	612	219	(2)	(2)		(2)
Beginning Balance (in shares) at Jun. 30, 2019		342.9			153.7
Beginning Balance at Jun. 30, 2019	575	$ 3	575	9,108	$ (8,887)	(446)	353	222
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	383			380			380	3
Dividends	(97)			(97)			(97)	0
Stock-based compensation	33		33				33
Shares issued for stock-based compensation plans at average cost, net	7		0		$ 7		7
Shares issued for stock-based compensation plans at average cost, net (in shares)					0.2
Treasury shares repurchased (in shares)					(0.7)
Treasury shares repurchased	(113)		0		$ (113)		(113)
Currency translation adjustment, net of net investment hedge activity (net of tax)	(92)					(92)	(92)	0
Net actuarial gains (losses) and prior service costs	0
Amortization of prior service costs and actuarial losses	1					1	1
Ending Balance (in shares) at Sep. 30, 2019		342.9			154.2
Ending Balance at Sep. 30, 2019	697	$ 3	608	9,391	$ (8,993)	(537)	472	225
Beginning Balance (in shares) at Dec. 31, 2019		342.9			155.2
Beginning Balance at Dec. 31, 2019	831	$ 3	642	9,656	$ (9,250)	(439)	612	219	$ (2)	$ (2)		$ (2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,464			1,464			1,464	0
Dividends	(315)			(314)			(314)	(1)
Stock-based compensation	110		110				110
Shares issued for stock-based compensation plans at average cost, net	(53)		(51)		$ (2)		(53)
Shares issued for stock-based compensation plans at average cost, net (in shares)					1.2
Purchase of noncontrolling interest	(17)		(2)				(2)	(15)
Treasury shares repurchased (in shares)					(1.1)
Treasury shares repurchased	(253)				$ (253)		(253)
Currency translation adjustment, net of net investment hedge activity (net of tax)	(31)					(19)	(19)	(12)
Net actuarial gains (losses) and prior service costs	(1)					(1)	(1)
Amortization of prior service costs and actuarial losses	4					4	4
Net realized and unrealized gain (loss) on cash flow hedges (net of tax)	(49)					(49)	(49)
Ending Balance (in shares) at Sep. 30, 2020		342.9			155.1
Ending Balance at Sep. 30, 2020	1,688	$ 3	699	10,804	$ (9,505)	(504)	1,497	191
Beginning Balance (in shares) at Jun. 30, 2020		342.9			155.2
Beginning Balance at Jun. 30, 2020	1,232	$ 3	651	10,442	$ (9,513)	(542)	1,041	191
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	467			467			467	0
Dividends	(106)			(105)			(105)	(1)
Stock-based compensation	38		38				38
Shares issued for stock-based compensation plans at average cost, net	18		10		$ 8		18
Shares issued for stock-based compensation plans at average cost, net (in shares)					0.1
Currency translation adjustment, net of net investment hedge activity (net of tax)	44					43	43	1
Net actuarial gains (losses) and prior service costs	(7)					(7)	(7)
Amortization of prior service costs and actuarial losses	2					2	2
Ending Balance (in shares) at Sep. 30, 2020		342.9			155.1
Ending Balance at Sep. 30, 2020	$ 1,688	$ 3	$ 699	$ 10,804	$ (9,505)	$ (504)	$ 1,497	$ 191

CONSOLIDATED STATEMENT OF SHA_2

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Stockholders' Equity [Abstract]
Dividends declared per share attributable to Moody's common shareholders (in USD per share)	$ 0.56	$ 0.50	$ 1.68	$ 1.50
Currency translation adjustment, net of net investment hedge activity, tax expense (benefit)	$ 31	$ (34)	$ (31)	$ (33)
Net actuarial gains and prior service cost, tax expense (benefit)	(2)	0	0	(1)
Amortization of prior service costs and actuarial losses, tax expense	$ 0	$ 0	1	$ 1
Net realized and unrealized gain on cash flow hedges, tax expense (benefit)			$ (18)

DESCRIPTION OF BUSINESS AND BAS

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Moody’s is a provider of (i) credit ratings and assessment services; (ii) credit, capital markets and economic research, data and analytical tools; (iii) software solutions that support financial risk management activities; (iv) quantitatively derived credit scores; (v) learning solutions and certification services; and (vi) company information and business intelligence products. Moody’s reports in two reportable segments: MIS and MA. MIS, the credit rating agency, publishes credit ratings and provides assessment services on a wide range of debt obligations and the entities that issue such obligations in markets worldwide. Revenue is primarily derived from the originators and issuers of such transactions who use MIS ratings in the distribution of their debt issues to investors. Additionally, MIS earns revenue from certain non-ratings-related operations which consist primarily of financial instrument pricing services in the Asia-Pacific region, revenue from ICRA’s non-ratings operations and revenue from providing ESG research, data and assessments. The revenue from these operations is included in the MIS Other LOB and is not material to the results of the MIS segment. MA provides financial intelligence and analytical tools to assist businesses in making decisions. MA’s portfolio of solutions consists of specialized research, data, software, and professional services, which are assembled to support the financial analysis and risk management activities of institutional customers worldwide. These interim financial statements have been prepared in accordance with the instructions to Form 10-Q and should be read in conjunction with the Company’s consolidated financial statements and related notes in the Company’s 2019 annual report on Form 10-K filed with the SEC on February 24, 2020. The results of interim periods are not necessarily indicative of results for the full year or any subsequent period. In the opinion of management, all adjustments (including normal recurring accruals) considered necessary for a fair presentation of financial position, results of operations and cash flows at the dates and for the periods presented have been included. The year-end consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. Certain reclassifications have been made to prior period amounts to conform to the current presentation. Adoption of New Accounting Standards On January 1, 2020, the Company adopted ASU No. 2016-13, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The Company has implemented policies and procedures in compliance with the “expected credit loss” impairment model, which included (1) refinement of the grouping of receivables with similar risk characteristics; and (2) processes to identify information that can be used to develop reasonable and supportable forecasts of factors that could affect the collectability of the reported amount of the receivable. As the Company's accounts receivable are short-term in nature, the adoption of this ASU did not have a material impact to the Company's allowance for bad debts or its policies and procedures for determining the allowance. Refer to Note 2 for further information on how the Company determines its reserves for expected credit losses. The Company recorded a $2 million cumulative-effect adjustment to retained earnings to increase its allowance for credit losses upon adoption. On January 1, 2020, the Company adopted ASU No. 2018-15, “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract.” This ASU requires implementation costs incurred by customers in cloud computing arrangements (i.e., hosting arrangements) to be capitalized under the same provisions of authoritative guidance for internal-use software, and amortized over the non-cancellable term of the cloud computing arrangements plus any option renewal periods that are reasonably certain to be exercised by the customer or for which the exercise is controlled by the service provider. The Company will be required to present the amortization of capitalized implementation costs in the same line item in the statement of operations as the fees associated with the hosting service (i.e. operating and SG&A expense) and classify the related payments in the statement of cash flows in the same manner as payments made for fees associated with the hosting service (i.e. cash flows from operating activities). This ASU also requires capitalization of implementation costs in the balance sheet to be consistent with the location of prepayment of fees for the hosting element (i.e. within other current assets or other assets). The Company adopted this ASU prospectively to all implementation costs incurred after the date of adoption and it did not have a material impact on the Company's current financial statements. The future impact to the Company's financial statements will relate to the aforementioned classification of these capitalized costs and related amortization. In March 2020, FASB issued ASU No. 2020-04, "Facilitation of the Effects of Reference Rate Reform on Financial Reporting". The ASU provides temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. This guidance was effective beginning on March 12, 2020, and the Company may elect to apply the amendments prospectively through December 31, 2022 as the transition from LIBOR is completed. COVID-19 The Company is closely monitoring the impact of the COVID-19 pandemic on all aspects of its business. While the Company has selectively reopened certain of its offices, Moody’s continues to require remote work for most employees globally. The Company continues to monitor regional developments relating to the COVID-19 pandemic to inform decisions on office re-openings. The Company experienced disruption in certain sectors of its business beginning late in the first quarter of 2020 resulting from market volatility associated with the COVID-19 crisis. However, at the date of the filing of this quarterly report on Form 10-Q, the Company is unable to predict either the potential near-term or longer-term impact that the COVID-19 crisis may have on its financial position and operating results due to numerous uncertainties regarding the duration and severity of the crisis. As a result, it is reasonably possible that the Company could experience material impacts including, but not limited to: reductions in revenue and cash flows; additional credit losses related to accounts receivables; asset impairment charges; and changes in the funded status of defined benefit pension plans. While it is reasonably possible that the COVID-19 crisis will have a material impact on the results of operations and cash flows of the Company in the near term, Moody's believes that it has adequate liquidity to maintain its operations with minimal disruption and to maintain compliance with its debt covenants. In the nine months ended September 30, 2020, in order to maximize liquidity and to increase available cash on hand through this period of uncertainty, the Company increased its long-term borrowings by $700 million and began borrowing under its CP Program as more fully discussed in Note 17. At September 30, 2020, the Company had repaid all CP outstanding. In addition, the Company reduced discretionary spending, including temporarily suspending its share repurchase program beginning late in the first quarter of 2020 and spanning through the third quarter. The Company anticipates resuming its share repurchase program in the fourth quarter of 2020. The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted on March 27, 2020 in the United States. The Company is utilizing certain provisions in the CARES Act and other IRS guidance which permit the deferral of certain income and payroll tax remittances.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES On January 1, 2020, the Company adopted the New Credit Losses Accounting Standard as more fully discussed in Note 1. Accordingly, the Company revised its accounts receivable allowances accounting policy to reflect the provisions of the new standard, which is discussed below along with the capitalized software accounting policy, which was also updated to reflect the New Internal Use Software Accounting Standard. All other significant accounting policies described in the Form 10-K for the year ended December 31, 2019 remain unchanged. Accounts Receivable Allowances On January 1, 2020, the Company adopted ASU No. 2016-13, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” as more fully described in Note 1. As the Company's accounts receivable are short-term in nature, the adoption of this ASU did not have a material impact to the Company's allowance for bad debts or its policies and procedures for determining the allowance. In order to determine an estimate of expected credit losses, receivables are segmented based on similar risk characteristics including historical credit loss patterns and industry or class of customers to calculate reserve rates. The Company uses an aging method for developing its allowance for credit losses by which receivable balances are stratified based on aging category. A reserve rate is calculated for each aging category which is generally based on historical information. The reserve rate is adjusted, when necessary, for current conditions (e.g., macroeconomic or industry related) and reasonable and supportable forecasts about the future. The Company also considers customer specific information (e.g., bankruptcy or financial difficulty) when estimating its expected credit losses, as well as the economic environment of the customers, both from an industry and geographic perspective, in evaluating the need for allowances. Expected credit losses are reflected as additions to the accounts receivable allowance. Actual uncollectible account write-offs are recorded against the allowance. As of September 30, 2020, Moody's assessment included consideration of the current COVID-19 pandemic and its estimated impact on the Company's accounts receivable allowances. This assessment involved the utilization of significant judgment regarding the expected severity and duration of the market disruption caused by the COVID-19 pandemic, as well as judgment regarding which industries, classes of customers and geographies would be most significantly impacted. During the nine months ended September 30, 2020, the Company recorded a net provision for expected credit losses of $31 million. The increase in the provision for expected credit losses for the current period was primarily attributable to the aforementioned estimated effects of COVID-19. Computer Software Developed or Obtained for Internal Use The Company capitalizes costs related to software developed or obtained for internal use. These assets, included in property and equipment in the consolidated balance sheets, relate to the Company’s financial systems, website and other systems. Such costs generally consist of direct costs for third-party perpetual license fees, professional services provided by third parties and employee compensation, in each case incurred either during the application development stage or in connection with upgrades and enhancements that increase functionality. Such costs are depreciated over their estimated useful lives on a straight-line basis. Costs incurred during the preliminary project stage of development as well as maintenance costs are expensed as incurred. The Company also capitalizes implementation costs incurred in cloud computing arrangements (i.e., hosting arrangements) and depreciates the costs over the non-cancellable term of the cloud computing arrangements plus any option renewal periods that are reasonably certain to be exercised or for which the exercise is controlled by the service provider. Following the January 1, 2020 adoption of ASU No. 2018-15, “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract" (as further discussed in Note 1), the Company classifies the amortization of capitalized implementation costs in the same line item in the statement of operations as the fees associated with the hosting service (i.e., operating and SG&A expense) and classifies the related payments in the statement of cash flows in the same manner as payments made for fees associated with the hosting service (i.e. cash flows from operating activities). In addition, the capitalization of implementation costs is reflected in the balance sheet consistent with the location of prepayment of fees for the hosting element (i.e., within other current assets or other assets). The implementation costs incurred prior to adoption of this ASU have been included within property and equipment, net in the balance sheet with the amortization of such balance included within depreciation and amortization in the statement of operations. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the period. Actual results could differ from those estimates.

REVENUES

REVENUES	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
REVENUES	REVENUES Revenue by Category The following table presents the Company’s revenues disaggregated by LOB: Three Months Ended Nine Months Ended 2020 2019 2020 2019 MIS: Corporate finance (CFG) Investment-grade $ 141 $ 106 $ 576 $ 299 High-yield 101 56 275 182 Bank loans 73 90 205 246 Other accounts (1) 146 140 430 408 Total CFG 461 392 1,486 1,135 Structured finance (SFG) Asset-backed securities 25 25 70 74 RMBS 24 21 74 69 CMBS 15 18 45 56 Structured credit 24 40 74 116 Other accounts — 1 2 3 Total SFG 88 105 265 318 Financial institutions (FIG) Banking 95 80 269 244 Insurance 31 31 105 88 Managed investments 6 6 20 20 Other accounts 2 3 7 9 Total FIG 134 120 401 361 Public, project and infrastructure finance (PPIF) Public finance / sovereign 71 58 192 157 Project and infrastructure 62 62 183 164 Total PPIF 133 120 375 321 Total ratings revenue 816 737 2,527 2,135 MIS Other 9 9 30 20 Total external revenue 825 746 2,557 2,155 Intersegment royalty 38 35 110 100 Total MIS 863 781 2,667 2,255 MA: Research, data and analytics (RD&A) 386 317 1,110 940 Enterprise risk solutions (ERS) 145 134 414 373 Professional services (PS) (2) — 43 — 128 Total external revenue 531 494 1,524 1,441 Intersegment revenue 1 2 5 7 Total MA 532 496 1,529 1,448 Eliminations (39) (37) (115) (107) Total MCO $ 1,356 $ 1,240 $ 4,081 $ 3,596 (1) Other includes: recurring monitoring fees of a rated debt obligation and/or entities that issue such obligations as well as fees from programs such as commercial paper, medium term notes, and ICRA corporate finance revenue. (2) Subsequent to the divestiture of MAKS in 2019, revenue from the MALS reporting unit, which previous to 2020 was reported in the PS LOB, is now reported as part of the RD&A LOB. Prior periods have not been reclassified as the amounts were not material. The following table presents the Company’s revenues disaggregated by LOB and geographic area: Three Months Ended September 30, 2020 Three Months Ended September 30, 2019 U.S. Non-U.S Total U.S. Non-U.S Total MIS: Corporate finance (CFG) $ 311 $ 150 $ 461 $ 259 $ 133 $ 392 Structured finance (SFG) 54 34 88 68 37 105 Financial institutions (FIG) 59 75 134 54 66 120 Public, project and infrastructure finance (PPIF) 82 51 133 73 47 120 Total ratings revenue 506 310 816 454 283 737 MIS Other — 9 9 — 9 9 Total MIS 506 319 825 454 292 746 MA: Research, data and analytics (RD&A) 167 219 386 139 178 317 Enterprise risk solutions (ERS) 56 89 145 49 85 134 Professional services (PS) (1) — — — 18 25 43 Total MA 223 308 531 206 288 494 Total MCO $ 729 $ 627 $ 1,356 $ 660 $ 580 $ 1,240 Nine Months Ended September 30, 2020 Nine Months Ended September 30, 2019 U.S. Non-U.S Total U.S. Non-U.S Total MIS: Corporate finance (CFG) $ 1,038 $ 448 $ 1,486 $ 744 $ 391 $ 1,135 Structured finance (SFG) 160 105 265 202 116 318 Financial institutions (FIG) 189 212 401 152 209 361 Public, project and infrastructure finance (PPIF) 237 138 375 202 119 321 Total ratings revenue 1,624 903 2,527 1,300 835 2,135 MIS Other 1 29 30 1 19 20 Total MIS 1,625 932 2,557 1,301 854 2,155 MA: Research, data and analytics (RD&A) 492 618 1,110 412 528 940 Enterprise risk solutions (ERS) 163 251 414 143 230 373 Professional services (PS) (1) — — — 54 74 128 Total MA 655 869 1,524 609 832 1,441 Total MCO $ 2,280 $ 1,801 $ 4,081 $ 1,910 $ 1,686 $ 3,596 (1) Subsequent to the divestiture of MAKS in 2019, the RD&A LOB now includes revenue from MALS beginning in the first quarter of 2020. MALS revenue was previously reported as part of the PS LOB and prior year revenue by LOB has not been reclassified as the amounts were not material. The following table presents the Company’s reportable segment revenues disaggregated by segment and geographic region: Three Months Ended Nine Months Ended 2020 2019 2020 2019 MIS: U.S. $ 506 $ 454 $ 1,625 $ 1,301 Non-U.S.: EMEA 188 175 542 502 Asia-Pacific 99 78 270 241 Americas 32 39 120 111 Total Non-U.S. 319 292 932 854 Total MIS 825 746 2,557 2,155 MA: U.S. 223 206 655 609 Non-U.S.: EMEA 213 187 595 555 Asia-Pacific 57 64 166 174 Americas 38 37 108 103 Total Non-U.S. 308 288 869 832 Total MA 531 494 1,524 1,441 Total MCO $ 1,356 $ 1,240 $ 4,081 $ 3,596 The following tables summarize the split between transaction and relationship revenue. In the MIS segment, excluding MIS Other, transaction revenue represents the initial rating of a new debt issuance as well as other one-time fees while relationship revenue represents the recurring monitoring fees of a rated debt obligation and/or entities that issue such obligations, as well as revenue from programs such as commercial paper, medium-term notes and shelf registrations. In MIS Other, transaction revenue represents revenue from professional services and outsourcing engagements and relationship revenue represents subscription-based revenues. In the MA segment, relationship revenue represents subscription-based revenues and software maintenance revenue. Transaction revenue in MA represents perpetual software license fees and revenue from software implementation services, risk management advisory projects, training and certification services, and outsourced research and analytical engagements. Three Months Ended September 30, 2020 2019 Transaction Relationship Total Transaction Relationship Total Corporate Finance $ 347 $ 114 $ 461 $ 282 $ 110 $ 392 75 % 25 % 100 % 72 % 28 % 100 % Structured Finance $ 41 $ 47 $ 88 $ 58 $ 47 $ 105 47 % 53 % 100 % 55 % 45 % 100 % Financial Institutions $ 67 $ 67 $ 134 $ 56 $ 64 $ 120 50 % 50 % 100 % 47 % 53 % 100 % Public, Project and Infrastructure Finance $ 92 $ 41 $ 133 $ 82 $ 38 $ 120 69 % 31 % 100 % 68 % 32 % 100 % MIS Other $ 1 $ 8 $ 9 $ — $ 9 $ 9 11 % 89 % 100 % — % 100 % 100 % Total MIS $ 548 $ 277 $ 825 $ 478 $ 268 $ 746 66 % 34 % 100 % 64 % 36 % 100 % Research, data and analytics $ 19 $ 367 $ 386 $ 3 $ 314 $ 317 5 % 95 % 100 % 1 % 99 % 100 % Enterprise risk solutions $ 32 $ 113 $ 145 $ 32 $ 102 $ 134 22 % 78 % 100 % 24 % 76 % 100 % Professional services (2) $ — $ — $ — $ 43 $ — $ 43 — % — % — % 100 % — % 100 % Total MA $ 51 $ 480 $ 531 $ 78 $ 416 $ 494 10 % 90 % 100 % 16 % 84 % 100 % Total Moody's Corporation $ 599 $ 757 $ 1,356 $ 556 $ 684 $ 1,240 44 % 56 % 100 % 45 % 55 % 100 % Nine Months Ended September 30, 2020 2019 Transaction Relationship Total Transaction Relationship Total Corporate Finance $ 1,142 $ 344 $ 1,486 $ 808 $ 327 $ 1,135 77 % 23 % 100 % 71 % 29 % 100 % Structured Finance $ 126 $ 139 $ 265 $ 184 $ 134 $ 318 48 % 52 % 100 % 58 % 42 % 100 % Financial Institutions $ 203 $ 198 $ 401 $ 165 $ 196 $ 361 51 % 49 % 100 % 46 % 54 % 100 % Public, Project and Infrastructure Finance $ 257 $ 118 $ 375 $ 208 $ 113 $ 321 69 % 31 % 100 % 65 % 35 % 100 % MIS Other $ 3 $ 27 $ 30 $ 1 $ 19 $ 20 10 % 90 % 100 % 5 % 95 % 100 % Total MIS $ 1,731 $ 826 $ 2,557 $ 1,366 $ 789 $ 2,155 68 % 32 % 100 % 63 % 37 % 100 % Research, data and analytics $ 53 $ 1,057 $ 1,110 $ 12 $ 928 $ 940 5 % 95 % 100 % 1 % 99 % 100 % Enterprise risk solutions $ 90 $ 324 $ 414 $ 79 $ 294 $ 373 22 % 78 % 100 % 21 % 79 % 100 % Professional services (2) $ — $ — $ — $ 128 $ — $ 128 — % — % — % 100 % — % 100 % Total MA $ 143 (1) $ 1,381 $ 1,524 $ 219 (1) $ 1,222 $ 1,441 9 % 91 % 100 % 15 % 85 % 100 % Total Moody's Corporation $ 1,874 $ 2,207 $ 4,081 $ 1,585 $ 2,011 $ 3,596 46 % 54 % 100 % 44 % 56 % 100 % (1) Revenue from software implementation services and risk management advisory projects, while classified by management as transactional revenue, is recognized over time under the Revenue Accounting Standard (please also refer to the following table). (2) Subsequent to the divestiture of MAKS in 2019, the RD&A LOB now includes revenue from MALS beginning in the first quarter of 2020. MALS revenue was previously reported as part of the PS LOB and prior year revenue by LOB has not been reclassified as the amounts were not material. The following table presents the timing of revenue recognition: Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 MIS MA Total MIS MA Total Revenue recognized at a point in time $ 548 $ 30 $ 578 $ 1,731 $ 89 $ 1,820 Revenue recognized over time 277 501 778 826 1,435 2,261 Total $ 825 $ 531 $ 1,356 $ 2,557 $ 1,524 $ 4,081 Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 MIS MA Total MIS MA Total Revenue recognized at a point in time $ 478 $ 31 $ 509 $ 1,366 $ 83 $ 1,449 Revenue recognized over time 268 463 731 789 1,358 2,147 Total $ 746 $ 494 $ 1,240 $ 2,155 $ 1,441 $ 3,596 Unbilled receivables, deferred revenue and remaining performance obligations Unbilled receivables At September 30, 2020 and December 31, 2019, accounts receivable, net included $404 million and $346 million, respectively, of unbilled receivables, net related to the MIS segment. Certain MIS arrangements contain contractual terms whereby the customers are billed in arrears for annual monitoring services, requiring revenue to be accrued as an unbilled receivable as such services are provided. In addition, for certain MA arrangements, the timing of when the Company has the unconditional right to consideration and recognizes revenue occurs prior to invoicing the customer. Consequently, at September 30, 2020 and December 31, 2019, accounts receivable, net included $89 million and $53 million, respectively, of unbilled receivables, net related to the MA segment. Deferred revenue The Company recognizes deferred revenue when a contract requires a customer to pay consideration to the Company in advance of when revenue related to that contract is recognized. This deferred revenue is relieved when the Company satisfies the related performance obligation and revenue is recognized. Significant changes in the deferred revenue balances during the three and nine months ended September 30, 2020 are as follows: Three Months Ended September 30, 2020 MIS MA Total Balance at June 30, 2020 $ 365 $ 740 $ 1,105 Changes in deferred revenue Revenue recognized that was included in the deferred revenue balance at the beginning of the period (118) (347) (465) Increases due to amounts billable excluding amounts recognized as revenue during the period 83 273 356 Effect of exchange rate changes 5 19 24 Total changes in deferred revenue (30) (55) (85) Balance at September 30, 2020 $ 335 $ 685 $ 1,020 Nine Months Ended September 30, 2020 MIS MA Total Balance at January 1, 2020 $ 322 $ 840 $ 1,162 Changes in deferred revenue Revenue recognized that was included in the deferred revenue balance at the beginning of the period (207) (781) (988) Increases due to amounts billable excluding amounts recognized as revenue during the period 219 607 826 Increases due to RDC acquisition during the period — 20 20 Effect of exchange rate changes 1 (1) — Total changes in deferred revenue 13 (155) (142) Balance at September 30, 2020 $ 335 $ 685 $ 1,020 Deferred revenue - current $ 237 $ 681 $ 918 Deferred revenue - noncurrent $ 98 $ 4 $ 102 Three Months Ended September 30, 2019 MIS MA Total Balance at June 30, 2019 $ 376 $ 695 $ 1,071 Changes in deferred revenue Revenue recognized that was included in the deferred revenue balance at the beginning of the period (111) (344) (455) Increases due to amounts billable excluding amounts recognized as revenue during the period 82 290 372 Effect of exchange rate changes (3) (14) (17) Total changes in deferred revenue (32) (68) (100) Balance at September 30, 2019 $ 344 $ 627 $ 971 Nine Months Ended September 30, 2019 MIS MA Total Balance at January 1, 2019 $ 326 $ 750 $ 1,076 Changes in deferred revenue Revenue recognized that was included in the deferred revenue balance at the beginning of the period (191) (687) (878) Increases due to amounts billable excluding amounts recognized as revenue during the period 212 576 788 Amount included in liabilities reclassified as held for sale — (3) (3) Effect of exchange rate changes (3) (9) (12) Total changes in deferred revenue 18 (123) (105) Balance at September 30, 2019 $ 344 $ 627 $ 971 Deferred revenue - current $ 234 $ 622 856 Deferred revenue - noncurrent $ 110 $ 5 115 For the MIS segment, the changes in the deferred revenue balance during the three and nine months ended September 30, 2020 and 2019 were primarily related to the significant portion of contract renewals that occur during the first quarter of each year and are generally recognized over a one-year period. For the MA segment, the decrease in deferred revenue for the three months ended September 30, 2020 and 2019 was primarily due to the recognition of annual subscription and maintenance billings from December and January of each year. For the nine months ended September 30, 2020 and 2019, the decrease in the deferred revenue balance is attributable to recognition of revenues related to the aforementioned December billings being partially offset by the impact of the high concentration of January billings. Remaining performance obligations Remaining performance obligations in the MIS segment largely reflect deferred revenue related to monitoring fees for certain structured finance products, primarily CMBS, where the issuers can elect to pay the monitoring fees for the life of the security in advance. As of September 30, 2020, the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $136 million. The Company expects to recognize into revenue approximately 20% of this balance within one year, approximately 50% of this balance between one to five years and the remaining amount thereafter. With respect to the remaining performance obligations for the MIS segment, the Company has applied a practical expedient set forth in ASC Topic 606 permitting the omission from the amounts stated above relating to unsatisfied performance obligations for contracts with an original expected length of one year or less.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Presented below is a summary of the stock-based compensation cost and associated tax benefit included in the accompanying consolidated statements of operations: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Stock-based compensation cost $ 38 $ 33 $ 110 $ 103 Tax benefit $ 8 $ 7 $ 22 $ 22 During the first nine months of 2020, the Company granted 0.1 million employee stock options, which had a weighted average grant date fair value of $60.66 per share based on the Black-Scholes option-pricing model. The Company also granted 0.5 million shares of restricted stock in the first nine months of 2020, which had a weighted average grant date fair value of $278.92 per share. Both the employee stock options and restricted stock generally vest ratably over four years. Additionally, the Company granted 0.1 million shares of performance-based awards whereby the number of shares that ultimately vest are based on the achievement of certain non-market-based performance metrics of the Company over three years. The weighted average grant date fair value of these awards was $273.81 per share. The following weighted average assumptions were used in determining the fair value for options granted in 2020: Expected dividend yield 0.80 % Expected stock volatility 22.52 % Risk-free interest rate 1.43 % Expected holding period 5.7 years Unrecognized stock-based compensation expense at September 30, 2020 was $8 million and $192 million for stock options and unvested restricted stock, respectively, which is expected to be recognized over a weighted average period of 2.4 years and 2.5 years, respectively. Additionally, there was $34 million of unrecognized stock-based compensation expense relating to the aforementioned non-market-based performance-based awards, which is expected to be recognized over a weighted average period of 2.0 years. The following tables summarize information relating to stock option exercises and restricted stock vesting: Nine Months Ended 2020 2019 Exercise of stock options: Proceeds from stock option exercises $ 32 $ 29 Aggregate intrinsic value $ 102 $ 99 Tax benefit realized upon exercise $ 24 $ 24 Number of shares exercised 0.5 0.7 Vesting of restricted stock: Fair value of shares vested $ 195 $ 153 Tax benefit realized upon vesting $ 45 $ 36 Number of shares vested 0.8 0.8 Vesting of performance-based restricted stock: Fair value of shares vested $ 70 $ 48 Tax benefit realized upon vesting $ 17 $ 12 Number of shares vested 0.3 0.3

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Moody’s ETR was 22.0% and 25.3% for the three months ended September 30, 2020 and 2019, respectively, and 20.0% and 21.4% for the nine months ended September 30, 2020 and 2019, respectively. The decrease in the ETR for the three month period ended September 30, 2020 was primarily due to a tax benefit recognized from a corporate reorganization outside of the U.S. in the third quarter of 2020 and a detriment from a non-U.S. tax rate change in the third quarter of 2019 which did not recur to the same extent in 2020. The Company’s year to date tax expense differs from the tax computed by applying its estimated annual effective tax rate to the year to date pre-tax earnings due to Excess Tax Benefits from stock compensation of $52 million and net reductions to tax positions of $43 million. The Company classifies interest related to UTPs in interest expense, net in its consolidated statements of operations. Penalties, if incurred, would be recognized in other non-operating (expense) income, net. The Company had an increase in its UTPs of $17 million ($16 million, net of federal tax) during the third quarter of 2020 and a net decrease in UTPs during the first nine months of 2020 of $6 million ($7 million, net of federal tax). Moody’s Corporation and subsidiaries are subject to U.S. federal income tax as well as income tax in various state, local and foreign jurisdictions. The Company’s U.S. federal income tax return for 2019 remains open to examination and 2017 and 2018 are currently under examination. The Company’s New York State tax returns for 2011 through 2016 are currently under examination and the Company’s New York City tax return for 2014 through 2017 are currently under examination. The Company’s U.K. tax return for 2012 is currently under examination and its returns for 2013 through 2018 remain open to examination. For ongoing audits, it is possible the balance of UTPs could decrease in the next twelve months as a result of the settlement of these audits, which might involve the payment of additional taxes, the adjustment of certain deferred taxes and/or the recognition of tax benefits. It is also possible that new issues might be raised by tax authorities which could necessitate increases to the balance of UTPs. As the Company is unable to predict the timing or outcome of these audits, it is therefore unable to estimate the amount of changes to the balance of UTPs at this time. However, the Company believes that it has adequately provided for its financial exposure relating to all open tax years by tax jurisdiction in accordance with the applicable provisions of Topic 740 of the ASC regarding UTPs. The following table shows the amount the Company paid for income taxes: Nine Months Ended September 30, 2020 2019 Income taxes paid $ 374 $ 303

WEIGHTED AVERAGE SHARES OUTSTAN

WEIGHTED AVERAGE SHARES OUTSTANDING	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
WEIGHTED AVERAGE SHARES OUTSTANDING	WEIGHTED AVERAGE SHARES OUTSTANDING Below is a reconciliation of basic to diluted shares outstanding: Three Months Ended Nine Months Ended September 30, 2020 2019 2020 2019 Basic 187.8 189.0 187.6 189.6 Dilutive effect of shares issuable under stock-based compensation plans 1.5 2.1 1.7 2.2 Diluted 189.3 191.1 189.3 191.8 Anti-dilutive options to purchase common shares and restricted stock as well as contingently issuable restricted stock which are excluded from the table above 0.3 0.2 0.3 0.3 The calculation of diluted EPS requires certain assumptions regarding the use of both cash proceeds and assumed proceeds that would be received upon the exercise of stock options and vesting of restricted stock outstanding as of September 30, 2020 and 2019.

ACCELERATED SHARE REPURCHASE PR

ACCELERATED SHARE REPURCHASE PROGRAM	9 Months Ended
	Sep. 30, 2020
Other Liabilities Disclosure [Abstract]
ACCELERATED SHARE REPURCHASE PROGRAM	ACCELERATED SHARE REPURCHASE PROGRAM On February 20, 2019, the Company entered into an ASR agreement with a financial institution counterparty to repurchase $500 million of its outstanding common stock. The Company paid $500 million to the counterparty and received an initial delivery of 2.2 million shares of its common stock. Final settlement of the ASR agreement was completed on April 26, 2019 and the Company received delivery of an additional 0.6 million shares of the Company’s common stock. In total, the Company repurchased 2.8 million shares of the Company’s common stock during the term of the ASR Agreement, based on the volume-weighted average price (net of discount) of $180.33 per share over the duration of the program. The initial share repurchase and final share settlement were recorded as a reduction to shareholders’ equity.

CASH EQUIVALENTS AND INVESTMENT

CASH EQUIVALENTS AND INVESTMENTS	9 Months Ended
	Sep. 30, 2020
Cash and Cash Equivalents [Abstract]
CASH EQUIVALENTS AND INVESTMENTS	CASH EQUIVALENTS AND INVESTMENTS The table below provides additional information on the Company’s cash equivalents and investments: As of September 30, 2020 Balance sheet location Cost Gains/(Losses) Fair Value Cash and cash equivalents Short-term investments Other assets Certificates of deposit and money market deposit accounts (1) $ 1,387 $ — $ 1,387 $ 1,284 $ 96 $ 7 Mutual funds $ 47 $ 3 $ 50 $ — $ — $ 50 As of December 31, 2019 Balance sheet location Cost Gains/(Losses) Fair Value Cash and cash equivalents Short-term investments Other assets Certificates of deposit and money market deposit accounts (1) $ 971 $ — $ 971 $ 866 $ 95 $ 10 Mutual funds $ 3 $ — $ 3 $ — $ 3 $ — (1) Consists of time deposits and money market deposit accounts. The remaining contractual maturities for the certificates of deposits classified as short-term investments were one month to 12 months at both September 30, 2020 and December 31, 2019. The remaining contractual maturities for the certificates of deposits classified in other assets are 13 months to 22 months at September 30, 2020 and 13 months to 18 months at December 31, 2019. Time deposits with a maturity of less than 90 days at time of purchase are classified as cash and cash equivalents. In addition, the Company invested in Corporate-Owned Life Insurance (COLI) in the first quarter of 2020. As of September 30, 2020, the contract value of the COLI was $14 million.

ACQUISITIONS AND OTHER STRATEGI

ACQUISITIONS AND OTHER STRATEGIC INITIATIVES	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
ACQUISITIONS AND OTHER STRATEGIC INITIATIVES	ACQUISITIONS AND OTHER STRATEGIC INITIATIVES The business combinations described below are accounted for using the acquisition method of accounting whereby assets acquired and liabilities assumed were recognized at fair value on the date of the transaction. Any excess of the purchase price over the fair value of the assets acquired and liabilities assumed was recorded to goodwill. Goodwill typically results through expected synergies from combining operations of an acquiree and an acquirer, anticipated new customer acquisition and products, as well as from intangible assets that do not qualify for separate recognition. RDC On February 13, 2020, the Company acquired 100% of RDC, a provider of anti-money laundering and know-your-customer data and due diligence services. The table below details the total consideration relating to the acquisition: Cash paid at closing $ 700 Additional consideration paid to sellers in 2020 (1) 2 Total consideration $ 702 (1) Represents additional consideration paid to the sellers following finalization of customary post-closing completion adjustments. Shown below is the preliminary purchase price allocation, which summarizes the fair value of the assets and liabilities assumed, at the date of acquisition: (Amounts in millions) Current assets $ 24 Intangible assets: Customer relationships (25 year weighted average life) $ 174 Database (10 year weighted average life) 86 Product technology (4 year weighted average life) 17 Trade name (3 year weighted average life) 3 Total intangible assets (19 year weighted average life) 280 Goodwill 494 Other assets 2 Liabilities: Accounts payable and accrued liabilities $ (5) Deferred revenue (20) Deferred tax liabilities (71) Other liabilities (2) Total liabilities (98) Net assets acquired $ 702 The Company has performed a preliminary valuation analysis of the fair market value of assets and liabilities of the RDC business. The final purchase price allocation will be determined when the Company has completed and fully reviewed the detailed valuations. The final allocation could differ materially from the preliminary allocation. The final allocation may include changes in allocations to acquired intangible assets as well as goodwill and other changes to assets and liabilities including reserves for UTPs and deferred tax liabilities. The estimated useful lives of acquired intangibles assets are also preliminary. Current assets in the table above include acquired cash of $6 million. Additionally, current assets include accounts receivable of approximately $14 million. Goodwill The goodwill recognized as a result of this acquisition includes, among other things, the value of combining the complementary product portfolios of the Company and RDC, which is expected to extend the Company’s reach to new and evolving market segments as well as cost savings synergies, expected new customer acquisitions and products. Goodwill, which has been assigned to the MA segment, is not deductible for tax purposes. RDC is a component of the Bureau van Dijk reporting unit for purposes of the Company’s annual goodwill impairment assessment. Transaction costs Transaction costs directly related to the RDC acquisition were not material. Other Acquisitions and Strategic Initiatives During the second quarter of 2020, the Company increased its stake in Vigeo Eiris, a provider of ESG research, data and assessments, from 69.2% to 99.8%. The purchase price for the additional stake was not material. Vigeo Eiris revenue is reported in the MIS Other LOB.

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	9 Months Ended
	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES The Company is exposed to global market risks, including risks from changes in FX rates and changes in interest rates. Accordingly, the Company uses derivatives in certain instances to manage the aforementioned financial exposures that occur in the normal course of business. The Company does not hold or issue derivatives for speculative purposes. Derivatives and non-derivative instruments designated as accounting hedges: Fair Value Hedges Interest Rate Swaps The Company has entered into interest rate swaps to convert the fixed interest rate on certain of its long-term debt to a floating interest rate based on the 3-month LIBOR and 6-month LIBOR. The purpose of these hedges is to mitigate the risk associated with changes in the fair value of the long-term debt, thus the Company has designated these swaps as fair value hedges. The fair value of the swaps is adjusted quarterly with a corresponding adjustment to the carrying value of the debt. The changes in the fair value of the swaps and the underlying hedged item generally offset and the net cash settlements on the swaps are recorded each period within interest expense, net in the Company’s consolidated statement of operations. The following table summarizes the Company’s interest rate swaps designated as fair value hedges: Notional Amount Hedged Item Nature of Swap As of September 30, As of December 31, Floating Interest Rate 2012 Senior Notes due 2022 Pay Floating/Receive Fixed $ 330 $ 330 3-month USD LIBOR 2017 Senior Notes due 2021 (1) Pay Floating/Receive Fixed $ — $ 500 3-month USD LIBOR 2017 Senior Notes due 2023 Pay Floating/Receive Fixed $ 250 $ 250 3-month USD LIBOR 2017 Senior Notes due 2028 Pay Floating/Receive Fixed $ 500 $ — 3-month USD LIBOR 2020 Senior Notes due 2025 (2) Pay Floating/Receive Fixed $ 300 $ — 6-month USD LIBOR Total $ 1,380 $ 1,080 (1) These interest rates swaps were terminated in conjunction with the repayment of the 2017 Senior Notes due 2021 in the third quarter of 2020. (2) These interest rate swaps were executed in the third quarter of 2020. Refer to Note 17 for information on the cumulative amount of fair value hedging adjustments included in the carrying amount of the above hedged items. The following table summarizes the impact to the statement of operations of the Company’s interest rate swaps designated as fair value hedges: Total amounts of financial statement line item presented in the statements of operations in which the effects of fair value hedges are recorded Amount of income/(loss) recognized in the consolidated statements of operations Three Months Ended September 30, Nine Months Ended 2020 2019 2020 2019 Interest expense, net $ (53) $ (46) $ (153) $ (149) Location on Consolidated Statements of Operations Net interest settlements and accruals on interest rate swaps Interest expense, net $ 6 $ 1 $ 14 $ 1 Fair value changes on interest rate swaps Interest expense, net $ (7) $ 2 $ 53 $ 33 Fair value changes on hedged debt Interest expense, net $ 7 $ (2) $ (53) $ (33) Net investment hedges The Company has designated €500 million of the 2015 Senior Notes Due 2027 and €750 million of the 2019 Senior Notes due 2030 as net investment hedges to mitigate FX exposure related to a portion of the Company’s euro net investment in certain foreign subsidiaries against changes in euro/USD exchange rates. These hedges are designated as accounting hedges under the applicable sections of ASC Topic 815 and will end upon the repayment of the notes in 2027 and 2030, respectively, unless terminated early at the discretion of the Company. The Company enters into cross-currency swaps to mitigate FX exposure related to a portion of the Company’s euro net investment in certain foreign subsidiaries against changes in euro/USD exchange rates. The following table provides information on the cross-currency swaps designated as net investment hedges under ASC Topic 815: September 30, 2020 Pay Receive Nature of Swap Notional Amount Weighted Average Interest Rate Notional Amount Weighted Average Interest Rate Pay Fixed/Receive Fixed € 1,079 1.43% $ 1,220 3.96% Pay Floating/Receive Floating 959 Based on 3-month EURIBOR 1,080 Based on 3-month USD LIBOR Total € 2,038 $ 2,300 December 31, 2019 Pay Receive Nature of Swap Notional Amount Weighted Average Interest Rate Notional Amount Weighted Average Interest Rate Pay Fixed/Receive Fixed € 1,079 1.43% $ 1,220 3.96% Pay Floating/Receive Floating 931 Based on 3-month EURIBOR 1,080 Based on 3-month USD LIBOR Total € 2,010 $ 2,300 As of September 30, 2020, these hedges will expire and be settled in 2021, 2022, 2023, 2024, and 2026 for €265 million, €438 million, €442 million, €443 million, and €450 million of the total notional amount, respectively, unless terminated early at the discretion of the Company. During the third quarter of 2020, the Company early-terminated €422.5 million notional value of cross-currency swaps (set to expire in 2021), resulting in immaterial cash proceeds. The Company also enters into forward contracts to mitigate FX exposure related to a portion of the Company’s euro net investment in certain foreign subsidiaries against changes in euro/USD exchange rates. The following table summarizes the notional amounts of the Company's outstanding forward contract that was designated as a net investment hedge: September 30, 2020 December 31, 2019 Notional amount of net investment hedges Sell Buy Sell Buy Contract to sell EUR for USD € 247 $ 292 — — This forward contract will expire in November 2020. Cash Flow Hedge Interest Rate Forward Contracts In January 2020, the Company entered into $300 million notional amount treasury rate locks with an average locked-in U.S. 30-year Treasury rate of 2.0103%, which were designated as cash flow hedges and used to manage the Company’s interest rate risk during the period prior to an anticipated issuance of 30-year debt. The treasury lock interest rate forward contracts matured on April 30, 2020, resulting in a cumulative loss of $68 million, which was recognized in AOCL. The loss on the Treasury rate lock will be reclassified from AOCL to earnings in the same period that the hedged transaction (i.e. interest payments on the 3.25% 2020 Senior Notes, due 2050) impacts earnings. The following tables provide information on the gains/(losses) on the Company’s net investment and cash flow hedges: Derivative and Non-Derivative Instruments in Net Investment Hedging Relationships Amount of Gain/(Loss) Recognized in AOCL on Derivative, net of Tax Amount of Gain/(Loss) Reclassified from AOCL into Income, net of Tax Gain/(Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) Three Months Ended Three Months Ended Three Months Ended 2020 2019 2020 2019 2020 2019 FX forward contracts $ 1 $ 5 $ — $ 1 $ — $ — Cross currency swaps (98) 79 — — 10 15 Long-term debt (46) 18 — — — — Total net investment hedges $ (143) $ 102 $ — $ 1 $ 10 $ 15 Derivatives in Cash Flow Hedging Relationships Interest rate contracts (1) — (1) — — — Total cash flow hedges $ (1) $ — $ (1) $ — $ — $ — Total $ (144) $ 102 $ (1) $ 1 $ 10 $ 15 Derivative and Non-Derivative Instruments in Net Investment Hedging Relationships Amount of Gain/(Loss) Recognized in AOCL on Derivative, net of Tax Amount of Gain/(Loss) Reclassified from AOCL into Income, net of Tax Gain/(Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) Nine Months Ended Nine Months Ended Nine Months Ended 2020 2019 2020 2019 2020 2019 FX forward contracts $ 1 $ 5 $ — $ 1 $ — $ — Cross currency swaps (81) 75 — — 40 37 Long-term debt (47) 17 — — — — Total net investment hedges $ (127) $ 97 $ — $ 1 $ 40 $ 37 Derivatives in Cash Flow Hedging Relationships Interest rate contracts (51) — (2) — — — Total cash flow hedges $ (51) $ — $ (2) $ — $ — $ — Total $ (178) $ 97 $ (2) $ 1 $ 40 $ 37 The cumulative amount of net investment hedge and cash flow hedge gains (losses) remaining in AOCL is as follows: Cumulative Gains/(Losses), net of tax September 30, 2020 December 31, 2019 Net investment hedges Cross currency swaps $ (40) $ 41 FX forwards 27 26 Long-term debt (60) (13) Total net investment hedges $ (73) $ 54 Cash flow hedges Interest rate contracts $ (51) $ (2) Cross currency swaps 2 2 Total cash flow hedges (49) — Total net (loss) gain in AOCL $ (122) $ 54 Derivatives not designated as accounting hedges: Foreign exchange forwards The Company also enters into foreign exchange forward contracts to mitigate the change in fair value on certain assets and liabilities denominated in currencies other than a subsidiary’s functional currency. These forward contracts are not designated as accounting hedges under the applicable sections of Topic 815 of the ASC. Accordingly, changes in the fair value of these contracts are recognized immediately in other non-operating income, net in the Company’s consolidated statements of operations along with the FX gain or loss recognized on the assets and liabilities denominated in a currency other than the subsidiary’s functional currency. These contracts have expiration dates at various times through November 2020. The following table summarizes the notional amounts of the Company’s outstanding foreign exchange forwards: September 30, 2020 December 31, 2019 Notional amount of currency pair: Sell Buy Sell Buy Contracts to sell USD for GBP $ 320 £ 254 $ 235 £ 178 Contracts to sell USD for Japanese Yen $ 10 ¥ 1,000 $ 29 ¥ 3,200 Contracts to sell USD for Canadian dollars $ 105 C$ 140 $ 83 C$ 110 Contracts to sell USD for Singapore dollars $ 58 S$ 79 $ 41 S$ 56 Contracts to sell USD for Euros $ 530 € 452 $ 421 € 378 Contracts to sell Euros for GBP € 53 £ 48 € 25 £ 21 Contracts to sell USD for Russian Ruble $ 9 ₽ 670 $ — ₽ — Contracts to sell USD for Indian Rupee $ 18 ₹ 1,350 $ — ₹ — NOTE: € = Euro, £ = British pound, $ = U.S. dollar, ¥ = Japanese Yen, C$ = Canadian dollar, S$= Singapore dollars, ₽ = Russian Ruble, ₹= Indian Rupee The following table summarizes the impact to the consolidated statements of operations relating to the net losses on the Company’s derivatives which are not designated as hedging instruments: Derivatives not designated as accounting hedges Location on Statement of Operations Three Months Ended Nine Months Ended 2020 2019 2020 2019 Foreign exchange forwards Other non-operating income, net $ 36 $ (26) $ 1 $ (35) The table below shows the classification between assets and liabilities on the Company’s consolidated balance sheets for the fair value of the derivative instrument as well as the carrying value of its non-derivative debt instruments designated and qualifying as net investment hedges: Derivative and Non-Derivative Instruments Balance Sheet Location September 30, 2020 December 31, 2019 Assets: Derivatives designated as accounting hedges: Cross-currency swaps designated as net investment hedges Other assets $ 9 $ 56 Interest rate swaps designated as fair value hedges Other assets 63 27 FX forwards designated as net investment hedges Other current assets 2 — Total derivatives designated as accounting hedges 74 83 Derivatives not designated as accounting hedges: FX forwards on certain assets and liabilities Other current assets 5 9 Total assets $ 79 $ 92 Liabilities: Derivatives designated as accounting hedges: Cross-currency swaps designated as net investment hedges Other liabilities $ 63 $ — Interest rate swaps designated as fair value hedges Other liabilities 1 — Total derivatives designated as accounting hedges 64 — Non-derivatives designated as accounting hedges: Long-term debt designated as net investment hedge Long-term debt 1,465 1,403 Derivatives not designated as accounting hedges: FX forwards on certain assets and liabilities Accounts payable and accrued liabilities 5 — Total liabilities $ 1,534 $ 1,403

GOODWILL AND OTHER ACQUIRED INT

GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS	GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS The following table summarizes the activity in goodwill for the periods indicated: Nine Months Ended September 30, 2020 MIS MA Consolidated Gross goodwill Accumulated impairment charge Net goodwill Gross goodwill Accumulated impairment charge Net goodwill Gross goodwill Accumulated impairment charge Net goodwill Balance at beginning of year $ 315 $ — $ 315 $ 3,419 $ (12) $ 3,407 $ 3,734 $ (12) $ 3,722 Additions/ adjustments (1) (2) — (2) 497 — 497 495 — 495 Foreign currency translation adjustments (11) — (11) 76 — 76 65 — 65 Ending balance $ 302 $ — $ 302 $ 3,992 $ (12) $ 3,980 $ 4,294 $ (12) $ 4,282 Year Ended December 31, 2019 MIS MA Consolidated Gross goodwill Accumulated impairment charge Net goodwill Gross goodwill Accumulated impairment charge Net goodwill Gross goodwill Accumulated impairment charge Net goodwill Balance at beginning of year $ 258 $ — $ 258 $ 3,535 $ (12) $ 3,523 $ 3,793 $ (12) $ 3,781 Additions/ adjustments (2) 53 — 53 61 — 61 114 — 114 Foreign currency translation adjustments 4 — 4 (14) — (14) (10) — (10) Divestiture of MAKS — — — (163) — (163) (163) — (163) Ending balance $ 315 $ — $ 315 $ 3,419 $ (12) $ 3,407 $ 3,734 $ (12) $ 3,722 (1) The 2020 additions/adjustments for the MA segment in the table above primarily relate to the acquisitions of RDC and RBA. (2) The 2019 additions/adjustments for the MIS segment in the table above relate to the acquisitions of Vigeo Eiris and Four Twenty Seven. The 2019 additions/adjustments for the MA segment in the table above relate to the acquisition of RiskFirst and ABS Suite. Acquired intangible assets and related amortization consisted of: September 30, December 31, Customer relationships $ 1,524 $ 1,325 Accumulated amortization (287) (235) Net customer relationships 1,237 1,090 Trade secrets 30 30 Accumulated amortization (29) (29) Net trade secrets 1 1 Software/product technology 378 372 Accumulated amortization (152) (131) Net software/product technology 226 241 Trade names 152 150 Accumulated amortization (35) (30) Net trade names 117 120 Other (1) 182 80 Accumulated amortization (46) (34) Net other 136 46 Total acquired intangible assets, net $ 1,717 $ 1,498 (1) Other intangible assets primarily consist of databases, covenants not to compete, and acquired ratings methodologies and models. Amortization expense relating to acquired intangible assets is as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Amortization expense $ 31 $ 24 $ 90 $ 77 Estimated future amortization expense for acquired intangible assets subject to amortization is as follows: Year Ending December 31, 2020 (After September 30,) $ 31 2021 121 2022 120 2023 116 2024 108 Thereafter 1,221 Total estimated future amortization $ 1,717 Matters concerning the ICRA reporting unit On August 29, 2019, the board of directors of ICRA terminated the employment of ICRA's CEO and on September 28, 2019, the shareholders of ICRA voted to remove the former CEO from his position on ICRA's board of directors. ICRA appointed a new Managing Director & Group CEO effective August 10, 2020. ICRA has reported that the Securities and Exchange Board of India (SEBI) issued an adjudication order dated December 26, 2019 imposing a penalty of INR 25 lakh (approximately $35,000) on ICRA in connection with credit ratings assigned to one of ICRA’s customers and the customer’s subsidiaries. ICRA has further reported that: (i) it is appealing that order; and (ii) it had received a related "show cause" notice from SEBI asking ICRA to demonstrate why the penalty imposed should not be increased. In an order dated September 22, 2020, SEBI increased the penalty imposed on ICRA from INR 25 lakh to INR 1 crore (approximately $140,000). In addition, ICRA has disclosed that it has completed its internal examinations into anonymous allegations that were forwarded to ICRA by SEBI and certain additional allegations made during the course of that examination while an examination into a separate anonymous complaint is ongoing. ICRA reported that its Board of Directors is in the process of taking appropriate actions based on the findings of the completed examinations. As of the date of this quarterly report on Form 10-Q, the Company is unable to estimate the financial impact, if any, that may result from a potential unfavorable conclusion of these matters or any other ICRA inquiry. An unfavorable resolution of such matters may negatively impact ICRA’s future operating results, which could result in an impairment of goodwill and amortizable intangible assets in future quarters.

RESTRUCTURING

RESTRUCTURING	9 Months Ended
	Sep. 30, 2020
Restructuring and Related Activities [Abstract]
RESTRUCTURING	RESTRUCTURING On July 29, 2020, the chief executive officer of Moody’s approved a restructuring program (the “2020 Restructuring Program”) primarily in response to the COVID-19 pandemic which revolves around the rationalization and exit of certain real estate leases. The exit from certain leased office space began in the third quarter of 2020 and is anticipated to be substantially completed during the first half of 2021. The 2020 Restructuring Program is estimated to result in total pre-tax charges of $25 to $35 million, which primarily reflect non-cash charges related to the impairment of operating lease right-of-use assets and leasehold improvements. Approximately $25 to $30 million of this amount is expected to be recorded in the second half of 2020. The 2020 Restructuring Program is expected to result in an estimated annualized savings of approximately $5 to $6 million a year. On October 26, 2018, the chief executive officer of Moody’s approved a restructuring program (the “2018 Restructuring Program”) that the Company estimates will result in annualized savings of approximately $60 million per year. The 2018 Restructuring Program, the scope of which was expanded in the second quarter of 2019, is estimated to result in total pre-tax charges of $105 to $110 million. The 2018 Restructuring Program included relocation of certain functions from high-cost to lower-cost jurisdictions, a reduction of staff, including from acquisitions and pursuant to a review of the business criticality of certain positions, and the rationalization and exit of certain real estate leases due to consolidation of various business activities. The exit from certain leased office space began in the fourth quarter of 2018 and resulted in approximately $50 million of the charges to either terminate or sublease the affected real estate leases. The 2018 Restructuring Program also included approximately $60 million of personnel-related restructuring charges, an amount that includes severance and related costs primarily determined under the Company’s existing severance plans. Cash outlays associated with the employee termination cost component of the 2018 Restructuring Program are anticipated to be approximately $60 million, which will be paid through 2021. The remaining restructuring liability relating to the 2018 Restructuring Program was not material as of September 30, 2020. Total expenses included in the accompanying consolidated statements of operations relating to the 2018 Restructuring Program and 2020 Restructuring Program are as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 2018 Restructuring Program $ — $ (1) $ (3) $ 58 2020 Restructuring Program (1) 23 — 23 — Total Restructuring $ 23 $ (1) $ 20 $ 58 (1) Consists of a non-cash charge relating to the impairment of leasehold improvements and ROU Assets. The fair value of the impaired ROU Assets was determined by utilizing the present value of the estimated future cash flows attributable to the assets. The fair value of these ROU assets immediately subsequent to the impairment was $10 million, and is categorized as Level 3 within the ASC Topic 820 fair value hierarchy.

FAIR VALUE

FAIR VALUE	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE	FAIR VALUE The table below presents information about items that are carried at fair value at September 30, 2020 and December 31, 2019: Fair value Measurement as of September 30, 2020 Description Balance Level 1 Level 2 Assets: Derivatives (1) $ 79 $ — $ 79 Mutual funds 50 50 — Total $ 129 $ 50 $ 79 Liabilities: Derivatives (1) $ 69 $ — $ 69 Total $ 69 $ — $ 69 Fair value Measurement as of December 31, 2019 Description Balance Level 1 Level 2 Assets: Derivatives (1) $ 92 $ — $ 92 Mutual funds 3 3 — Total $ 95 $ 3 $ 92 (1) Represents FX forwards on certain assets and liabilities as well as interest rate swaps, cross-currency swaps and forward contracts as more fully described in Note 10 to the condensed consolidated financial statements. The following are descriptions of the methodologies utilized by the Company to estimate the fair value of its derivative contracts, mutual funds and money market mutual funds: Derivatives: In determining the fair value of the derivative contracts in the table above, the Company utilizes industry standard valuation models. Where applicable, these models project future cash flows and discount the future amounts to a present value using spot rates, forward points, currency volatilities, interest rates as well as the risk of non-performance of the Company and the counterparties with whom it has derivative contracts. The Company established strict counterparty credit guidelines and only enters into transactions with financial institutions that adhere to these guidelines. Accordingly, the risk of counterparty default is deemed to be minimal. Mutual funds and money market mutual funds: The mutual funds in the table above are deemed to be equity securities with readily determinable fair values with changes in the fair value recognized through net income under ASC Topic 321. The fair value of these instruments is determined using Level 1 inputs as defined in the ASC Topic 820.

OTHER BALANCE SHEET AND STATEME

OTHER BALANCE SHEET AND STATEMENT OF OPERATIONS INFORMATION	9 Months Ended
	Sep. 30, 2020
Other Balance Sheet And Statement Of Operations Information [Abstract]
OTHER BALANCE SHEET AND STATEMENT OF OPERATIONS INFORMATION	OTHER BALANCE SHEET AND STATEMENT OF OPERATIONS INFORMATION The following tables contain additional detail related to certain balance sheet captions: September 30, 2020 December 31, 2019 Other current assets: Prepaid taxes $ 121 $ 79 Prepaid expenses 77 71 Capitalized costs to obtain and fulfill sales contracts 80 91 Other 55 89 Total other current assets $ 333 $ 330 Other assets: Investments in non-consolidated affiliates $ 123 $ 117 Deposits for real-estate leases 16 13 Indemnification assets related to acquisitions 16 16 Mutual funds and fixed deposits 54 10 Company owned life insurance (at contract value) 14 — Costs to obtain sales contracts 118 119 Cross currency and interest rate swaps 72 83 Other 55 31 Total other assets $ 468 $ 389 Accounts payable and accrued liabilities: Salaries and benefits $ 131 $ 152 Incentive compensation 160 208 Customer credits, advanced payments and advanced billings 44 28 Dividends 7 7 Professional service fees 51 43 Interest accrued on debt 43 63 Accounts payable 26 38 Income taxes 97 73 Pension and other retirement employee benefits 7 7 Accrued royalties 13 25 Foreign exchange forwards on certain assets and liabilities 5 — Restructuring liability 4 21 Other 124 108 Total accounts payable and accrued liabilities $ 712 $ 773 September 30, 2020 December 31, 2019 Other liabilities: Pension and other retirement employee benefits $ 214 $ 299 Interest accrued on UTPs 107 82 MAKS indemnification provisions 33 43 Income tax liability - non-current portion 51 51 Cross currency and interest rate swaps 64 — Restructuring liability 2 3 Other 27 26 Total other liabilities $ 498 $ 504 Loss pursuant to the Divestiture of MAKS: The $2 million and $11 million loss during the three and nine months ended September 30, 2019 and $9 million loss during the nine months ended September 30, 2020 relates to the strategic divestiture of MAKS. Other Non-Operating Income (Expense): The following table summarizes the components of other non-operating income (expense): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 FX gain (loss) $ 2 $ 1 $ 7 $ (15) Net periodic pension costs - other components 3 4 10 13 Income from investments in non-consolidated affiliates 4 4 4 11 Other 1 1 17 3 Total $ 10 $ 10 $ 38 $ 12

COMPREHENSIVE INCOME AND ACCUMU

COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS	COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS The following table provides details about the reclassifications out of AOCL: Losses on cash flow hedges Three Months Ended Nine Months Ended Location in the consolidated statement of operations Interest rate contract $ — $ (1) Other non-operating expense, net Income tax effect of items above — — Provision for income taxes Total net losses on cash flow hedges — (1) Pension and other retirement benefits Amortization of actuarial losses and prior service costs included in net income (1) (3) Operating expense Amortization of actuarial losses and prior service costs included in net income (1) (2) SG&A expense Total before income taxes (2) (5) Income tax effect of item above — 1 Provision for income taxes Total pension and other retirement benefits (2) (4) Total net losses included in Net Income attributable to reclassifications out of AOCL $ (2) $ (5) Location in the consolidated statement of operations Gains (losses) on cash flow hedges Three Months Ended Nine Months Ended Cross-currency swap $ — $ — Other non-operating income, net Interest rate contract — — Interest expense, net Total before income taxes — — Income tax effect of items above — — Provision for income taxes Total net gains (losses) on cash flow hedges — — Gains on net investment hedges FX forwards 1 1 Other non-operating income, net Income tax effect of item above — — Provision for income taxes Total net gains on net investment hedges 1 1 Pension and other retirement benefits Amortization of actuarial losses and prior service costs included in net income (1) (2) Operating expense Amortization of actuarial losses and prior service costs included in net income — (1) SG&A expense Total before income taxes (1) (3) Income tax effect of item above — 1 Provision for income taxes Total pension and other retirement benefits (1) (2) Total net losses included in Net Income attributable to reclassifications out of AOCL $ — $ (1) The following tables show changes in AOCL by component (net of tax): Three Months Ended September 30, 2020 September 30, 2019 Gains/(Losses) Pension and Other Retirement Benefits Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Pension and Other Retirement Benefits Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Balance June 30, $ (84) $ (49) $ (479) $ 70 $ (542) $ (70) $ — $ (401) $ 25 $ (446) Other comprehensive income/(loss) before reclassifications (7) — 186 (143) 36 — — (193) 102 (91) Amounts reclassified from AOCL 2 — — — 2 1 — — (1) — Other comprehensive income/(loss) (5) — 186 (143) 38 1 — (193) 101 (91) Balance September 30, $ (89) $ (49) $ (293) $ (73) $ (504) $ (69) $ — $ (594) $ 126 $ (537) Nine Months Ended September 30, 2020 September 30, 2019 Gains/(Losses) Pension and Other Retirement Benefits Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Pension and Other Retirement Benefits Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Balance December 31, $ (92) $ — $ (401) $ 54 $ (439) $ (53) $ — $ (406) $ 33 $ (426) Other comprehensive income/(loss) before reclassifications (1) (50) 108 (127) (70) (1) — (188) 97 (92) Amounts reclassified from AOCL 4 1 — — 5 2 — — (1) 1 Adoption of ASU 2018-02 — — — — — (17) — — (3) (20) Other comprehensive income/(loss) 3 (49) 108 (127) (65) (16) — (188) 93 (111) Balance September 30, $ (89) $ (49) $ (293) $ (73) $ (504) $ (69) $ — $ (594) $ 126 $ (537)

PENSION AND OTHER RETIREMENT BE

PENSION AND OTHER RETIREMENT BENEFITS	9 Months Ended
	Sep. 30, 2020
Retirement Benefits [Abstract]
PENSION AND OTHER RETIREMENT BENEFITS	PENSION AND OTHER RETIREMENT BENEFITS Moody’s maintains funded and unfunded noncontributory DBPPs. The U.S. plans provide defined benefits using a cash balance formula based on years of service and career average salary for its employees or final average pay for selected executives. The Company also provides certain healthcare and life insurance benefits for retired U.S. employees. The retirement healthcare plans are contributory; the life insurance plans are noncontributory. Moody’s funded and unfunded U.S. pension plans, the U.S. retirement healthcare plans and the U.S. retirement life insurance plans are collectively referred to herein as the “Retirement Plans”. The U.S. retirement healthcare plans and the U.S. retirement life insurance plans are collectively referred to herein as the “Other Retirement Plans”. The non-U.S. defined benefit pension plans are immaterial. Effective January 1, 2008, the Company no longer offers DBPPs to U.S. employees hired or rehired on or after January 1, 2008. New U.S. employees will instead receive a retirement contribution of similar benefit value under the Company’s Profit Participation Plan. Current participants of the Company’s DBPPs continue to accrue benefits based on existing plan formulas. The components of net periodic benefit expense related to the Retirement Plans are as follows: Three Months Ended September 30, Pension Plans Other Retirement Plans 2020 2019 2020 2019 Components of net periodic expense Service cost $ 5 $ 4 $ — $ 1 Interest cost 4 5 1 — Expected return on plan assets (5) (5) — — Amortization of net actuarial loss from earlier periods 2 1 — — Net periodic expense $ 6 $ 5 $ 1 $ 1 Nine Months Ended September 30, Pension Plans Other Retirement Plans 2020 2019 2020 2019 Components of net periodic expense Service cost $ 13 $ 12 $ 2 $ 2 Interest cost 13 15 1 1 Expected return on plan assets (15) (15) — — Amortization of net actuarial loss from earlier periods 5 3 — — Net periodic expense $ 16 $ 15 $ 3 $ 3 The Company contributed $99 million to its funded pension plan, $8 million related to its unfunded U.S. DBPPs and $1 million to its U.S. other retirement plans during the nine months ended September 30, 2020. Additionally, the Company anticipates making payments of $1 million to its unfunded U.S. DBPPs, during the remainder of 2020.

INDEBTEDNESS

INDEBTEDNESS	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
INDEBTEDNESS	INDEBTEDNESS The Company’s debt is recorded at its carrying amount, which represents the issuance amount plus or minus any issuance premium or discount, except for the 2012 Senior Notes, the 2017 Senior Notes due 2023, the 2017 Senior Notes due 2028 and the 2020 Senior Notes due 2025 which are recorded at the carrying amount adjusted for the fair value of an interest rate swap used to hedge the fair value of the note. The following table summarizes total indebtedness: September 30, 2020 Notes Payable: Principal Amount Fair Value of Interest Rate Swaps (1) Unamortized (Discount) Premium Unamortized Debt Issuance Costs Carrying Value 4.50% 2012 Senior Notes, due 2022 $ 500 $ 16 $ (1) $ (1) $ 514 4.875% 2013 Senior Notes, due 2024 500 — (1) (1) 498 5.25% 2014 Senior Notes (30-Year), due 2044 600 — 4 (5) 599 1.75% 2015 Senior Notes, due 2027 586 — — (2) 584 2.625% 2017 Senior Notes, due 2023 500 13 (1) (2) 510 3.25% 2017 Senior Notes, due 2028 500 34 (4) (3) 527 4.25% 2018 Senior Notes, due 2029 400 — (2) (3) 395 4.875% 2018 Senior Notes, due 2048 400 — (7) (4) 389 0.950% 2019 Senior Notes, due 2030 879 — (3) (6) 870 3.75% 2020 Senior Notes, due 2025 700 (1) (1) (5) 693 3.25% 2020 Senior Notes, due 2050 300 — (4) (3) 293 2.55% 2020 Senior Notes, due 2060 500 — (4) (5) 491 Total long-term debt $ 6,365 $ 62 $ (24) $ (40) $ 6,363 December 31, 2019 Notes Payable: Principal Amount Fair Value of Interest Rate Swaps (1) Unamortized (Discount) Premium Unamortized Debt Issuance Costs Carrying Value 4.50% 2012 Senior Notes, due 2022 $ 500 $ 9 $ (1) $ (1) $ 507 4.875% 2013 Senior Notes, due 2024 500 — (1) (2) 497 5.25% 2014 Senior Notes (30-Year), due 2044 600 — 4 (5) 599 1.75% 2015 Senior Notes, due 2027 561 — — (3) 558 2.75% 2017 Senior Notes, due 2021 500 11 (1) (2) 508 2.625% 2017 Senior Notes, due 2023 500 7 (1) (2) 504 3.25% 2017 Senior Notes, due 2028 500 — (4) (3) 493 3.25% 2018 Senior Notes, due 2021 300 — — (1) 299 4.25% 2018 Senior Notes, due 2029 400 — (3) (3) 394 4.875% 2018 Senior Notes, due 2048 400 — (7) (4) 389 0.950% 2019 Senior Notes, due 2030 842 — (3) (6) 833 Total long-term debt $ 5,603 $ 27 $ (17) $ (32) $ 5,581 (1) The fair value of interest rate swaps in the table above represents the cumulative amount of fair value hedging adjustments included in the carrying amount of the hedged debt. Notes Payable In the first nine months of 2020, the Company issued the 2020 Senior Notes (5-year), the 2020 Senior Notes (30-year) and the 2020 Senior Notes (40-year). The key terms of these debt issuances are set forth in the table above. The Company may prepay certain amounts of its senior notes, in whole or in part, but may incur a Make-Whole Amount penalty. In the second quarter of 2020, the Company fully repaid $300 million of the 2018 Senior Notes due 2021 along with a Make-Whole Amount of approximately $8 million. In the third quarter of 2020, the Company fully repaid $500 million of the 2017 Senior Notes due 2021 along with a Make-Whole Amount of approximately $16 million. Additionally, in the third quarter of 2020, the Company recognized into interest expense, net, $17 million of carrying value adjustments relating to the early termination of interest rate swaps designated as fair value hedges that were associated with the 2017 Senior Notes due 2021. At September 30, 2020, the Company was in compliance with all covenants contained within all of the debt agreements. All the debt agreements contain cross default provisions which state that default under one of the aforementioned debt instruments could in turn permit lenders under other debt instruments to declare borrowings outstanding under those instruments to be immediately due and payable. As of September 30, 2020, there were no such cross defaults. The repayment schedule for the Company’s borrowings is as follows: Year Ending December 31, 2012 Senior Notes due 2022 2013 Senior Notes due 2024 2014 Senior Notes (30-Year) due 2044 2015 Senior Notes due 2027 2017 Senior Notes due 2023 2017 Senior Notes due 2028 2018 Senior Notes due 2029 2018 Senior Notes due 2048 2019 Senior Notes due 2030 2020 Senior Notes due 2025 2020 Senior Notes due 2050 2020 Senior Notes due 2060 Total 2020 (After September 30,) $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — 2021 — — — — — — — — — — — — — 2022 500 — — — — — — — — — — — 500 2023 — — — — 500 — — — — — — — 500 2024 — 500 — — — — — — — — — — 500 Thereafter — — 600 586 — 500 400 400 879 700 300 500 4,865 Total $ 500 $ 500 $ 600 $ 586 $ 500 $ 500 $ 400 $ 400 $ 879 $ 700 $ 300 $ 500 $ 6,365 Interest expense, net The following table summarizes the components of interest as presented in the consolidated statements of operations: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Income $ 2 $ 3 $ 9 $ 12 Expense on borrowings (42) (37) (121) (125) UTPs and other tax related liabilities (9) (7) (27) (20) Net periodic pension costs - interest component (4) (6) (14) (17) Capitalized — 1 — 1 Total $ (53) $ (46) $ (153) $ (149) The following table shows the cash paid for interest: Nine Months Ended 2020 2019 Interest paid $ 119 $ 149 The fair value and carrying value of the Company’s debt as of September 30, 2020 and December 31, 2019 are as follows: September 30, 2020 December 31, 2019 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value 4.50% 2012 Senior Notes, due 2022 $ 514 $ 535 $ 507 $ 531 4.875% 2013 Senior Notes, due 2024 498 565 497 551 5.25% 2014 Senior Notes (30-Year), due 2044 599 822 599 757 1.75% 2015 Senior Notes, due 2027 584 643 558 604 2.75% 2017 Senior Notes, due 2021 — — 508 507 2.625% 2017 Senior Notes, due 2023 510 523 504 507 3.25% 2017 Senior Notes, due 2028 527 566 493 523 3.25% 2018 Senior Notes, due 2021 — — 299 306 4.25% 2018 Senior Notes, due 2029 395 479 394 453 4.875% 2018 Senior Notes, due 2048 389 540 389 492 0.950% 2019 Senior Notes, due 2030 870 923 833 847 3.75% 2020 Senior Notes, due 2025 693 789 — — 3.25% 2020 Senior Notes, due 2050 293 320 — — 2.55% 2020 Senior Notes, due 2060 491 458 — — Total $ 6,363 $ 7,163 $ 5,581 $ 6,078 The fair value of the Company’s long-term debt is estimated based on quoted market prices for similar instruments. Accordingly, the inputs used to estimate the fair value of the Company’s long-term debt are classified as Level 2 inputs within the fair value hierarchy.

LEASES

LEASES	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
LEASES	LEASES The Company has operating leases, substantially all of which relate to the lease of office space. The Company’s leases which are classified as finance leases are not material to the consolidated financial statements. Certain of the Company’s leases include options to renew, with renewal terms that can extend the lease term from one year to 20 years at the Company’s discretion. The following table presents the components of the Company’s lease cost: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Operating lease cost $ 24 $ 24 $ 72 $ 73 Sublease income (1) — (3) — Variable lease cost 4 5 14 13 Total lease cost $ 27 $ 29 $ 83 $ 86 During the third quarter of 2020, the Company recorded $11 million of ROU Asset impairment charges related to the rationalization and exit of certain real estate leases pursuant to the 2020 Restructuring Program. The impairment charges were recorded within the Restructuring caption on the consolidated statement of operations. Refer to Note 12 for further details on the Company's 2020 Restructuring Program. The following tables present other information related to the Company’s operating leases: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Cash paid for amounts included in the measurement of operating lease liabilities $ 27 $ 27 $ 80 $ 80 Right-of-use assets obtained in exchange for new operating lease liabilities $ 7 $ 12 $ 26 $ 28 September 30, 2020 September 30, 2019 Weighted-average remaining lease term 6.3 years 6.9 years Weighted-average discount rate applied to operating leases 3.6 % 3.6 % The following table presents a maturity analysis of the future minimum lease payments included within the Company’s operating lease liabilities at September 30, 2020: Year Ending December 31, Operating Leases 2020 (After September 30) $ 27 2021 107 2022 96 2023 90 2024 81 After 2024 191 Total lease payments (undiscounted) 592 Less: Interest 62 Present value of lease liabilities: $ 530 Lease liabilities - current $ 91 Lease liabilities - noncurrent $ 439

CONTINGENCIES

CONTINGENCIES	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES Given the nature of the Company's activities, Moody’s and its subsidiaries are subject to legal and tax proceedings, governmental, regulatory and legislative investigations, subpoenas and other inquiries, and claims and litigation by governmental and private parties that are based on ratings assigned by MIS or that are otherwise incidental to the Company’s business. Moody’s and MIS also are subject to periodic reviews, inspections, examinations and investigations by regulators in the U.S. and other jurisdictions, any of which may result in claims, legal proceedings, assessments, fines, penalties or restrictions on business activities. Moody’s also is subject to ongoing tax audits as addressed in Note 5 to the consolidated financial statements. Management periodically assesses the Company’s liabilities and contingencies in connection with these matters based upon the latest information available. For claims, litigation and proceedings and governmental investigations and inquiries not related to income taxes, the Company records liabilities in the consolidated financial statements when it is both probable that a liability has been incurred and the amount of loss can be reasonably estimated and periodically adjusts these as appropriate. When the reasonable estimate of the loss is within a range of amounts, the minimum amount of the range is accrued unless some higher amount within the range is a better estimate than another amount within the range. In instances when a loss is reasonably possible but uncertainties exist related to the probable outcome and/or the amount or range of loss, management does not record a liability but discloses the contingency if material. As additional information becomes available, the Company adjusts its assessments and estimates of such matters accordingly. Moody’s also discloses material pending legal proceedings pursuant to SEC rules and other pending matters as it may determine to be appropriate. In view of the inherent difficulty of assessing the potential outcome of legal proceedings, governmental, regulatory and legislative investigations and inquiries, claims and litigation and similar matters and contingencies, particularly when the claimants seek large or indeterminate damages or assert novel legal theories or the matters involve a large number of parties, the

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company is organized into two operating segments: MIS and MA and accordingly, the Company reports in two reportable segments: MIS and MA. The MIS segment consists of five LOBs. The CFG, SFG, FIG and PPIF LOBs generate revenue principally from fees for the assignment and ongoing monitoring of credit ratings on debt obligations and the entities that issue such obligations in markets worldwide. The MIS Other LOB primarily consists of financial instruments pricing services in the Asia-Pacific region, ICRA non-ratings revenue and revenue from providing ESG research, data and assessments. The MA segment develops a wide range of products and services that support the risk management activities of institutional participants in global financial markets. Beginning i n the first quarter of 2020, t he MA segment now consists of two LOBs - RD&A and ERS. Subsequent to the divestiture of MAKS in the fourth quarter of 2019, the MALS business, which was historically part of the PS LOB through December 31, 2019, was reclassified to the RD&A LOB. Prior year revenue by LOB has not been reclassified as the amounts relating to the MALS business were not material. Revenue for MIS and expenses for MA include an intersegment royalty charged to MA for the rights to use and distribute content, data and products developed by MIS. The royalty rate charged by MIS approximates the fair value of the aforementioned content, data and products and is generally based on comparable market transactions. Also, revenue for MA and expenses for MIS include an intersegment fee charged to MIS from MA for certain MA products and services utilized in MIS’s ratings process. These fees charged by MA are generally equal to the costs incurred by MA to produce these products and services. Overhead expenses include costs such as rent and occupancy, information technology and support staff such as finance, human resources and legal. Such costs and corporate expenses that exclusively benefit one segment are fully charged to that segment. For overhead costs and corporate expenses that benefit both segments, costs are allocated to each segment based on the segment’s share of full-year 2018 actual revenue which comprises a “Baseline Pool” that will remain fixed over time. In subsequent periods, incremental overhead costs (or reductions thereof) will be allocated to each segment based on the prevailing shares of total revenue represented by each segment. “Eliminations” in the following table represent intersegment revenue/expense. Moody’s does not report the Company’s assets by reportable segment, as this metric is not used by the chief operating decision maker to allocate resources to the segments. Consequently, it is not practical to show assets by reportable segment. Financial Information by Segment The table below shows revenue, operating income and Adjusted Operating Income by reportable segment. Adjusted Operating Income is a financial metric utilized by the Company’s chief operating decision maker to assess the profitability of each reportable segment. Refer to Note 3 for further details on the components of the Company’s revenue. Three Months Ended September 30, 2020 2019 MIS MA Eliminations Consolidated MIS MA Eliminations Consolidated Revenue $ 863 $ 532 $ (39) $ 1,356 $ 781 $ 496 $ (37) $ 1,240 Total Expense 339 414 (39) 714 340 388 (37) 691 Operating income 524 118 — 642 441 108 — 549 Add: Restructuring 13 10 — 23 — (1) — (1) Depreciation and amortization 17 39 — 56 18 30 — 48 Loss pursuant to the divestiture of MAKS — — — — — 2 — 2 Captive insurance company settlement — — — — 10 6 — 16 Adjusted Operating Income $ 554 $ 167 $ — $ 721 $ 469 $ 145 $ — $ 614 Nine Months Ended September 30, 2020 2019 MIS MA Eliminations Consolidated MIS MA Eliminations Consolidated Revenue $ 2,667 $ 1,529 $ (115) $ 4,081 $ 2,255 $ 1,448 $ (107) $ 3,596 Total Expenses 1,051 1,201 (115) 2,137 1,028 1,181 (107) 2,102 Operating income 1,616 328 — 1,944 1,227 267 — 1,494 Add: Restructuring 12 8 — 20 29 29 — 58 Depreciation and amortization 52 111 — 163 53 97 — 150 Acquisition-Related Expenses — — — — — 3 — 3 Loss pursuant to the divestiture of MAKS — 9 — 9 — 11 — 11 Captive insurance company settlement — — — — 10 6 — 16 Adjusted Operating Income $ 1,680 $ 456 $ — $ 2,136 $ 1,319 $ 413 $ — $ 1,732 The cumulative restructuring charges related to the 2018 Restructuring Program, as more fully discussed in Note 12, for the MIS and MA reportable segments are $62 million and $44 million, respectively. The cumulative restructuring charges related to the 2020 Restructuring Program, as more fully discussed in Note 12, for the MIS and MA reportable segments are $13 million and $10 million, respectively. Consolidated Revenue Information by Geographic Area Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 United States $ 729 $ 660 $ 2,280 $ 1,910 Non-U.S.: EMEA 401 362 1,137 1,057 Asia-Pacific 156 142 436 415 Americas 70 76 228 214 Total Non-U.S. 627 580 1,801 1,686 Total $ 1,356 $ 1,240 $ 4,081 $ 3,596

RECENTLY ISSUED ACCOUNTING STAN

RECENTLY ISSUED ACCOUNTING STANDARDS	9 Months Ended
	Sep. 30, 2020
Accounting Changes and Error Corrections [Abstract]
RECENTLY ISSUED ACCOUNTING STANDARDS	RECENTLY ISSUED ACCOUNTING STANDARDS In August 2018, the FASB issued ASU No. 2018-14, “Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715- 20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans”. This ASU eliminates requirements for certain disclosures and requires additional disclosures under defined benefit pension plans and other postretirement plans. The ASU is effective for all entities for fiscal years beginning after December 15, 2020 on a retrospective basis to all periods presented, with early adoption permitted. The Company will comply with the new disclosure requirements set forth in this ASU upon adoption. In April 2019, the FASB issued ASU No. 2019-04, “Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825 Financial Instruments”. This ASU clarifies and improves guidance related to the recently issued standards updates on credit losses, hedging, and recognition and measurement of financial instruments. This ASU is effective for fiscal years beginning after December 15, 2020, with early adoption permitted. The Company does not anticipate that the adoption of this ASU will have a significant impact on its consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes". This ASU simplifies the accounting for income taxes by eliminating certain exceptions to the general principles in Topic 740, Income Taxes, and clarifies certain aspects of the existing guidance to promote consistency among reporting entities. Most amendments within this ASU are required to be applied on a prospective basis, while certain amendments must be applied on a retrospective or modified retrospective basis. This ASU is effective for fiscal years beginning after December 15, 2020, with early adoption permitted. The Company does not anticipate that the adoption of this ASU will have a significant impact on its consolidated financial statements.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On October 21, 2020, the Company completed the acquisition of Acquire Media (AM), an aggregator and distributor of curated real-time news, multimedia, data, and alerts. The purchase price for this acquisition was not material and the near-term impact to the Company's financial statements is not expected to be material. On October 27, 2020, the Board approved the declaration of a quarterly dividend of $0.56 per share of Moody’s common stock, payable on December 14, 2020 to shareholders of record at the close of business on November 23, 2020.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Accounts Receivable Allowances	Accounts Receivable Allowances On January 1, 2020, the Company adopted ASU No. 2016-13, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” as more fully described in Note 1. As the Company's accounts receivable are short-term in nature, the adoption of this ASU did not have a material impact to the Company's allowance for bad debts or its policies and procedures for determining the allowance. In order to determine an estimate of expected credit losses, receivables are segmented based on similar risk characteristics including historical credit loss patterns and industry or class of customers to calculate reserve rates. The Company uses an aging method for developing its allowance for credit losses by which receivable balances are stratified based on aging category. A reserve rate is calculated for each aging category which is generally based on historical information. The reserve rate is adjusted, when necessary, for current conditions (e.g., macroeconomic or industry related) and reasonable and supportable forecasts about the future. The Company also considers customer specific information (e.g., bankruptcy or financial difficulty) when estimating its expected credit losses, as well as the economic environment of the customers, both from an industry and geographic perspective, in evaluating the need for allowances. Expected credit losses are reflected as additions to the accounts receivable allowance. Actual uncollectible account write-offs are recorded against the allowance.
Computer Software Developed or Obtained for Internal Use	Computer Software Developed or Obtained for Internal Use The Company capitalizes costs related to software developed or obtained for internal use. These assets, included in property and equipment in the consolidated balance sheets, relate to the Company’s financial systems, website and other systems. Such costs generally consist of direct costs for third-party perpetual license fees, professional services provided by third parties and employee compensation, in each case incurred either during the application development stage or in connection with upgrades and enhancements that increase functionality. Such costs are depreciated over their estimated useful lives on a straight-line basis. Costs incurred during the preliminary project stage of development as well as maintenance costs are expensed as incurred.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the period. Actual results could differ from those estimates.

REVENUES (Tables)

REVENUES (Tables)	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents the Company’s revenues disaggregated by LOB: Three Months Ended Nine Months Ended 2020 2019 2020 2019 MIS: Corporate finance (CFG) Investment-grade $ 141 $ 106 $ 576 $ 299 High-yield 101 56 275 182 Bank loans 73 90 205 246 Other accounts (1) 146 140 430 408 Total CFG 461 392 1,486 1,135 Structured finance (SFG) Asset-backed securities 25 25 70 74 RMBS 24 21 74 69 CMBS 15 18 45 56 Structured credit 24 40 74 116 Other accounts — 1 2 3 Total SFG 88 105 265 318 Financial institutions (FIG) Banking 95 80 269 244 Insurance 31 31 105 88 Managed investments 6 6 20 20 Other accounts 2 3 7 9 Total FIG 134 120 401 361 Public, project and infrastructure finance (PPIF) Public finance / sovereign 71 58 192 157 Project and infrastructure 62 62 183 164 Total PPIF 133 120 375 321 Total ratings revenue 816 737 2,527 2,135 MIS Other 9 9 30 20 Total external revenue 825 746 2,557 2,155 Intersegment royalty 38 35 110 100 Total MIS 863 781 2,667 2,255 MA: Research, data and analytics (RD&A) 386 317 1,110 940 Enterprise risk solutions (ERS) 145 134 414 373 Professional services (PS) (2) — 43 — 128 Total external revenue 531 494 1,524 1,441 Intersegment revenue 1 2 5 7 Total MA 532 496 1,529 1,448 Eliminations (39) (37) (115) (107) Total MCO $ 1,356 $ 1,240 $ 4,081 $ 3,596 (1) Other includes: recurring monitoring fees of a rated debt obligation and/or entities that issue such obligations as well as fees from programs such as commercial paper, medium term notes, and ICRA corporate finance revenue. (2) Subsequent to the divestiture of MAKS in 2019, revenue from the MALS reporting unit, which previous to 2020 was reported in the PS LOB, is now reported as part of the RD&A LOB. Prior periods have not been reclassified as the amounts were not material. The following table presents the Company’s revenues disaggregated by LOB and geographic area: Three Months Ended September 30, 2020 Three Months Ended September 30, 2019 U.S. Non-U.S Total U.S. Non-U.S Total MIS: Corporate finance (CFG) $ 311 $ 150 $ 461 $ 259 $ 133 $ 392 Structured finance (SFG) 54 34 88 68 37 105 Financial institutions (FIG) 59 75 134 54 66 120 Public, project and infrastructure finance (PPIF) 82 51 133 73 47 120 Total ratings revenue 506 310 816 454 283 737 MIS Other — 9 9 — 9 9 Total MIS 506 319 825 454 292 746 MA: Research, data and analytics (RD&A) 167 219 386 139 178 317 Enterprise risk solutions (ERS) 56 89 145 49 85 134 Professional services (PS) (1) — — — 18 25 43 Total MA 223 308 531 206 288 494 Total MCO $ 729 $ 627 $ 1,356 $ 660 $ 580 $ 1,240 Nine Months Ended September 30, 2020 Nine Months Ended September 30, 2019 U.S. Non-U.S Total U.S. Non-U.S Total MIS: Corporate finance (CFG) $ 1,038 $ 448 $ 1,486 $ 744 $ 391 $ 1,135 Structured finance (SFG) 160 105 265 202 116 318 Financial institutions (FIG) 189 212 401 152 209 361 Public, project and infrastructure finance (PPIF) 237 138 375 202 119 321 Total ratings revenue 1,624 903 2,527 1,300 835 2,135 MIS Other 1 29 30 1 19 20 Total MIS 1,625 932 2,557 1,301 854 2,155 MA: Research, data and analytics (RD&A) 492 618 1,110 412 528 940 Enterprise risk solutions (ERS) 163 251 414 143 230 373 Professional services (PS) (1) — — — 54 74 128 Total MA 655 869 1,524 609 832 1,441 Total MCO $ 2,280 $ 1,801 $ 4,081 $ 1,910 $ 1,686 $ 3,596 (1) Subsequent to the divestiture of MAKS in 2019, the RD&A LOB now includes revenue from MALS beginning in the first quarter of 2020. MALS revenue was previously reported as part of the PS LOB and prior year revenue by LOB has not been reclassified as the amounts were not material. The following tables summarize the split between transaction and relationship revenue. In the MIS segment, excluding MIS Other, transaction revenue represents the initial rating of a new debt issuance as well as other one-time fees while relationship revenue represents the recurring monitoring fees of a rated debt obligation and/or entities that issue such obligations, as well as revenue from programs such as commercial paper, medium-term notes and shelf registrations. In MIS Other, transaction revenue represents revenue from professional services and outsourcing engagements and relationship revenue represents subscription-based revenues. In the MA segment, relationship revenue represents subscription-based revenues and software maintenance revenue. Transaction revenue in MA represents perpetual software license fees and revenue from software implementation services, risk management advisory projects, training and certification services, and outsourced research and analytical engagements. Three Months Ended September 30, 2020 2019 Transaction Relationship Total Transaction Relationship Total Corporate Finance $ 347 $ 114 $ 461 $ 282 $ 110 $ 392 75 % 25 % 100 % 72 % 28 % 100 % Structured Finance $ 41 $ 47 $ 88 $ 58 $ 47 $ 105 47 % 53 % 100 % 55 % 45 % 100 % Financial Institutions $ 67 $ 67 $ 134 $ 56 $ 64 $ 120 50 % 50 % 100 % 47 % 53 % 100 % Public, Project and Infrastructure Finance $ 92 $ 41 $ 133 $ 82 $ 38 $ 120 69 % 31 % 100 % 68 % 32 % 100 % MIS Other $ 1 $ 8 $ 9 $ — $ 9 $ 9 11 % 89 % 100 % — % 100 % 100 % Total MIS $ 548 $ 277 $ 825 $ 478 $ 268 $ 746 66 % 34 % 100 % 64 % 36 % 100 % Research, data and analytics $ 19 $ 367 $ 386 $ 3 $ 314 $ 317 5 % 95 % 100 % 1 % 99 % 100 % Enterprise risk solutions $ 32 $ 113 $ 145 $ 32 $ 102 $ 134 22 % 78 % 100 % 24 % 76 % 100 % Professional services (2) $ — $ — $ — $ 43 $ — $ 43 — % — % — % 100 % — % 100 % Total MA $ 51 $ 480 $ 531 $ 78 $ 416 $ 494 10 % 90 % 100 % 16 % 84 % 100 % Total Moody's Corporation $ 599 $ 757 $ 1,356 $ 556 $ 684 $ 1,240 44 % 56 % 100 % 45 % 55 % 100 % Nine Months Ended September 30, 2020 2019 Transaction Relationship Total Transaction Relationship Total Corporate Finance $ 1,142 $ 344 $ 1,486 $ 808 $ 327 $ 1,135 77 % 23 % 100 % 71 % 29 % 100 % Structured Finance $ 126 $ 139 $ 265 $ 184 $ 134 $ 318 48 % 52 % 100 % 58 % 42 % 100 % Financial Institutions $ 203 $ 198 $ 401 $ 165 $ 196 $ 361 51 % 49 % 100 % 46 % 54 % 100 % Public, Project and Infrastructure Finance $ 257 $ 118 $ 375 $ 208 $ 113 $ 321 69 % 31 % 100 % 65 % 35 % 100 % MIS Other $ 3 $ 27 $ 30 $ 1 $ 19 $ 20 10 % 90 % 100 % 5 % 95 % 100 % Total MIS $ 1,731 $ 826 $ 2,557 $ 1,366 $ 789 $ 2,155 68 % 32 % 100 % 63 % 37 % 100 % Research, data and analytics $ 53 $ 1,057 $ 1,110 $ 12 $ 928 $ 940 5 % 95 % 100 % 1 % 99 % 100 % Enterprise risk solutions $ 90 $ 324 $ 414 $ 79 $ 294 $ 373 22 % 78 % 100 % 21 % 79 % 100 % Professional services (2) $ — $ — $ — $ 128 $ — $ 128 — % — % — % 100 % — % 100 % Total MA $ 143 (1) $ 1,381 $ 1,524 $ 219 (1) $ 1,222 $ 1,441 9 % 91 % 100 % 15 % 85 % 100 % Total Moody's Corporation $ 1,874 $ 2,207 $ 4,081 $ 1,585 $ 2,011 $ 3,596 46 % 54 % 100 % 44 % 56 % 100 % (1) Revenue from software implementation services and risk management advisory projects, while classified by management as transactional revenue, is recognized over time under the Revenue Accounting Standard (please also refer to the following table). (2) Subsequent to the divestiture of MAKS in 2019, the RD&A LOB now includes revenue from MALS beginning in the first quarter of 2020. MALS revenue was previously reported as part of the PS LOB and prior year revenue by LOB has not been reclassified as the amounts were not material. The following table presents the timing of revenue recognition: Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 MIS MA Total MIS MA Total Revenue recognized at a point in time $ 548 $ 30 $ 578 $ 1,731 $ 89 $ 1,820 Revenue recognized over time 277 501 778 826 1,435 2,261 Total $ 825 $ 531 $ 1,356 $ 2,557 $ 1,524 $ 4,081 Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 MIS MA Total MIS MA Total Revenue recognized at a point in time $ 478 $ 31 $ 509 $ 1,366 $ 83 $ 1,449 Revenue recognized over time 268 463 731 789 1,358 2,147 Total $ 746 $ 494 $ 1,240 $ 2,155 $ 1,441 $ 3,596
Company's Reportable Segment Revenues Disaggregated by Segment and Geographic Region	The following table presents the Company’s reportable segment revenues disaggregated by segment and geographic region: Three Months Ended Nine Months Ended 2020 2019 2020 2019 MIS: U.S. $ 506 $ 454 $ 1,625 $ 1,301 Non-U.S.: EMEA 188 175 542 502 Asia-Pacific 99 78 270 241 Americas 32 39 120 111 Total Non-U.S. 319 292 932 854 Total MIS 825 746 2,557 2,155 MA: U.S. 223 206 655 609 Non-U.S.: EMEA 213 187 595 555 Asia-Pacific 57 64 166 174 Americas 38 37 108 103 Total Non-U.S. 308 288 869 832 Total MA 531 494 1,524 1,441 Total MCO $ 1,356 $ 1,240 $ 4,081 $ 3,596
Schedule of Changes in the Deferred Revenue Balances	Significant changes in the deferred revenue balances during the three and nine months ended September 30, 2020 are as follows: Three Months Ended September 30, 2020 MIS MA Total Balance at June 30, 2020 $ 365 $ 740 $ 1,105 Changes in deferred revenue Revenue recognized that was included in the deferred revenue balance at the beginning of the period (118) (347) (465) Increases due to amounts billable excluding amounts recognized as revenue during the period 83 273 356 Effect of exchange rate changes 5 19 24 Total changes in deferred revenue (30) (55) (85) Balance at September 30, 2020 $ 335 $ 685 $ 1,020 Nine Months Ended September 30, 2020 MIS MA Total Balance at January 1, 2020 $ 322 $ 840 $ 1,162 Changes in deferred revenue Revenue recognized that was included in the deferred revenue balance at the beginning of the period (207) (781) (988) Increases due to amounts billable excluding amounts recognized as revenue during the period 219 607 826 Increases due to RDC acquisition during the period — 20 20 Effect of exchange rate changes 1 (1) — Total changes in deferred revenue 13 (155) (142) Balance at September 30, 2020 $ 335 $ 685 $ 1,020 Deferred revenue - current $ 237 $ 681 $ 918 Deferred revenue - noncurrent $ 98 $ 4 $ 102 Three Months Ended September 30, 2019 MIS MA Total Balance at June 30, 2019 $ 376 $ 695 $ 1,071 Changes in deferred revenue Revenue recognized that was included in the deferred revenue balance at the beginning of the period (111) (344) (455) Increases due to amounts billable excluding amounts recognized as revenue during the period 82 290 372 Effect of exchange rate changes (3) (14) (17) Total changes in deferred revenue (32) (68) (100) Balance at September 30, 2019 $ 344 $ 627 $ 971 Nine Months Ended September 30, 2019 MIS MA Total Balance at January 1, 2019 $ 326 $ 750 $ 1,076 Changes in deferred revenue Revenue recognized that was included in the deferred revenue balance at the beginning of the period (191) (687) (878) Increases due to amounts billable excluding amounts recognized as revenue during the period 212 576 788 Amount included in liabilities reclassified as held for sale — (3) (3) Effect of exchange rate changes (3) (9) (12) Total changes in deferred revenue 18 (123) (105) Balance at September 30, 2019 $ 344 $ 627 $ 971 Deferred revenue - current $ 234 $ 622 856 Deferred revenue - noncurrent $ 110 $ 5 115

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]
Stock-Based Compensation Cost and Associated Tax Benefit	Presented below is a summary of the stock-based compensation cost and associated tax benefit included in the accompanying consolidated statements of operations: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Stock-based compensation cost $ 38 $ 33 $ 110 $ 103 Tax benefit $ 8 $ 7 $ 22 $ 22
Weighted Average Assumptions used in Determining Fair Value for Options Granted	The following weighted average assumptions were used in determining the fair value for options granted in 2020: Expected dividend yield 0.80 % Expected stock volatility 22.52 % Risk-free interest rate 1.43 % Expected holding period 5.7 years
Stock Option Exercises and Restricted Stock Vesting	The following tables summarize information relating to stock option exercises and restricted stock vesting: Nine Months Ended 2020 2019 Exercise of stock options: Proceeds from stock option exercises $ 32 $ 29 Aggregate intrinsic value $ 102 $ 99 Tax benefit realized upon exercise $ 24 $ 24 Number of shares exercised 0.5 0.7 Vesting of restricted stock: Fair value of shares vested $ 195 $ 153 Tax benefit realized upon vesting $ 45 $ 36 Number of shares vested 0.8 0.8 Vesting of performance-based restricted stock: Fair value of shares vested $ 70 $ 48 Tax benefit realized upon vesting $ 17 $ 12 Number of shares vested 0.3 0.3

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes Paid	The following table shows the amount the Company paid for income taxes: Nine Months Ended September 30, 2020 2019 Income taxes paid $ 374 $ 303

WEIGHTED AVERAGE SHARES OUTST_2

WEIGHTED AVERAGE SHARES OUTSTANDING (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Reconciliation of Basic to Diluted Shares Outstanding	Below is a reconciliation of basic to diluted shares outstanding: Three Months Ended Nine Months Ended September 30, 2020 2019 2020 2019 Basic 187.8 189.0 187.6 189.6 Dilutive effect of shares issuable under stock-based compensation plans 1.5 2.1 1.7 2.2 Diluted 189.3 191.1 189.3 191.8 Anti-dilutive options to purchase common shares and restricted stock as well as contingently issuable restricted stock which are excluded from the table above 0.3 0.2 0.3 0.3

CASH EQUIVALENTS AND INVESTME_2

CASH EQUIVALENTS AND INVESTMENTS (Tables)	9 Months Ended
	Sep. 30, 2020
Cash and Cash Equivalents [Abstract]
Schedule of Cash and Cash Equivalents and Investments	The table below provides additional information on the Company’s cash equivalents and investments: As of September 30, 2020 Balance sheet location Cost Gains/(Losses) Fair Value Cash and cash equivalents Short-term investments Other assets Certificates of deposit and money market deposit accounts (1) $ 1,387 $ — $ 1,387 $ 1,284 $ 96 $ 7 Mutual funds $ 47 $ 3 $ 50 $ — $ — $ 50 As of December 31, 2019 Balance sheet location Cost Gains/(Losses) Fair Value Cash and cash equivalents Short-term investments Other assets Certificates of deposit and money market deposit accounts (1) $ 971 $ — $ 971 $ 866 $ 95 $ 10 Mutual funds $ 3 $ — $ 3 $ — $ 3 $ — (1) Consists of time deposits and money market deposit accounts. The remaining contractual maturities for the certificates of deposits classified as short-term investments were one month to 12 months at both September 30, 2020 and December 31, 2019. The remaining contractual maturities for the certificates of deposits classified in other assets are 13 months to 22 months at September 30, 2020 and 13 months to 18 months at December 31, 2019. Time deposits with a maturity of less than 90 days at time of purchase are classified as cash and cash equivalents.

ACQUISITIONS AND OTHER STRATE_2

ACQUISITIONS AND OTHER STRATEGIC INITIATIVES (Tables)	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	The table below details the total consideration relating to the acquisition: Cash paid at closing $ 700 Additional consideration paid to sellers in 2020 (1) 2 Total consideration $ 702 (1) Represents additional consideration paid to the sellers following finalization of customary post-closing completion adjustments.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	Shown below is the preliminary purchase price allocation, which summarizes the fair value of the assets and liabilities assumed, at the date of acquisition: (Amounts in millions) Current assets $ 24 Intangible assets: Customer relationships (25 year weighted average life) $ 174 Database (10 year weighted average life) 86 Product technology (4 year weighted average life) 17 Trade name (3 year weighted average life) 3 Total intangible assets (19 year weighted average life) 280 Goodwill 494 Other assets 2 Liabilities: Accounts payable and accrued liabilities $ (5) Deferred revenue (20) Deferred tax liabilities (71) Other liabilities (2) Total liabilities (98) Net assets acquired $ 702

DERIVATIVE INSTRUMENTS AND HE_2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	9 Months Ended
	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following table summarizes the Company’s interest rate swaps designated as fair value hedges: Notional Amount Hedged Item Nature of Swap As of September 30, As of December 31, Floating Interest Rate 2012 Senior Notes due 2022 Pay Floating/Receive Fixed $ 330 $ 330 3-month USD LIBOR 2017 Senior Notes due 2021 (1) Pay Floating/Receive Fixed $ — $ 500 3-month USD LIBOR 2017 Senior Notes due 2023 Pay Floating/Receive Fixed $ 250 $ 250 3-month USD LIBOR 2017 Senior Notes due 2028 Pay Floating/Receive Fixed $ 500 $ — 3-month USD LIBOR 2020 Senior Notes due 2025 (2) Pay Floating/Receive Fixed $ 300 $ — 6-month USD LIBOR Total $ 1,380 $ 1,080 (1) These interest rates swaps were terminated in conjunction with the repayment of the 2017 Senior Notes due 2021 in the third quarter of 2020. (2) These interest rate swaps were executed in the third quarter of 2020. September 30, 2020 Pay Receive Nature of Swap Notional Amount Weighted Average Interest Rate Notional Amount Weighted Average Interest Rate Pay Fixed/Receive Fixed € 1,079 1.43% $ 1,220 3.96% Pay Floating/Receive Floating 959 Based on 3-month EURIBOR 1,080 Based on 3-month USD LIBOR Total € 2,038 $ 2,300 December 31, 2019 Pay Receive Nature of Swap Notional Amount Weighted Average Interest Rate Notional Amount Weighted Average Interest Rate Pay Fixed/Receive Fixed € 1,079 1.43% $ 1,220 3.96% Pay Floating/Receive Floating 931 Based on 3-month EURIBOR 1,080 Based on 3-month USD LIBOR Total € 2,010 $ 2,300
Gains and Losses on Derivatives Designated as Hedging Instruments	The following table summarizes the impact to the statement of operations of the Company’s interest rate swaps designated as fair value hedges: Total amounts of financial statement line item presented in the statements of operations in which the effects of fair value hedges are recorded Amount of income/(loss) recognized in the consolidated statements of operations Three Months Ended September 30, Nine Months Ended 2020 2019 2020 2019 Interest expense, net $ (53) $ (46) $ (153) $ (149) Location on Consolidated Statements of Operations Net interest settlements and accruals on interest rate swaps Interest expense, net $ 6 $ 1 $ 14 $ 1 Fair value changes on interest rate swaps Interest expense, net $ (7) $ 2 $ 53 $ 33 Fair value changes on hedged debt Interest expense, net $ 7 $ (2) $ (53) $ (33)
Summary of Notional Amounts of Outstanding Foreign Exchange Forwards	The following table summarizes the notional amounts of the Company's outstanding forward contract that was designated as a net investment hedge: September 30, 2020 December 31, 2019 Notional amount of net investment hedges Sell Buy Sell Buy Contract to sell EUR for USD € 247 $ 292 — — This forward contract will expire in November 2020. The following table summarizes the notional amounts of the Company’s outstanding foreign exchange forwards: September 30, 2020 December 31, 2019 Notional amount of currency pair: Sell Buy Sell Buy Contracts to sell USD for GBP $ 320 £ 254 $ 235 £ 178 Contracts to sell USD for Japanese Yen $ 10 ¥ 1,000 $ 29 ¥ 3,200 Contracts to sell USD for Canadian dollars $ 105 C$ 140 $ 83 C$ 110 Contracts to sell USD for Singapore dollars $ 58 S$ 79 $ 41 S$ 56 Contracts to sell USD for Euros $ 530 € 452 $ 421 € 378 Contracts to sell Euros for GBP € 53 £ 48 € 25 £ 21 Contracts to sell USD for Russian Ruble $ 9 ₽ 670 $ — ₽ — Contracts to sell USD for Indian Rupee $ 18 ₹ 1,350 $ — ₹ — NOTE: € = Euro, £ = British pound, $ = U.S. dollar, ¥ = Japanese Yen, C$ = Canadian dollar, S$= Singapore dollars, ₽ = Russian Ruble, ₹= Indian Rupee
Amount of Gain/(Loss) Recognized in AOCI on Derivative Net Investment Hedging Relationships (Effectiveness Portion)	The following tables provide information on the gains/(losses) on the Company’s net investment and cash flow hedges: Derivative and Non-Derivative Instruments in Net Investment Hedging Relationships Amount of Gain/(Loss) Recognized in AOCL on Derivative, net of Tax Amount of Gain/(Loss) Reclassified from AOCL into Income, net of Tax Gain/(Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) Three Months Ended Three Months Ended Three Months Ended 2020 2019 2020 2019 2020 2019 FX forward contracts $ 1 $ 5 $ — $ 1 $ — $ — Cross currency swaps (98) 79 — — 10 15 Long-term debt (46) 18 — — — — Total net investment hedges $ (143) $ 102 $ — $ 1 $ 10 $ 15 Derivatives in Cash Flow Hedging Relationships Interest rate contracts (1) — (1) — — — Total cash flow hedges $ (1) $ — $ (1) $ — $ — $ — Total $ (144) $ 102 $ (1) $ 1 $ 10 $ 15 Derivative and Non-Derivative Instruments in Net Investment Hedging Relationships Amount of Gain/(Loss) Recognized in AOCL on Derivative, net of Tax Amount of Gain/(Loss) Reclassified from AOCL into Income, net of Tax Gain/(Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) Nine Months Ended Nine Months Ended Nine Months Ended 2020 2019 2020 2019 2020 2019 FX forward contracts $ 1 $ 5 $ — $ 1 $ — $ — Cross currency swaps (81) 75 — — 40 37 Long-term debt (47) 17 — — — — Total net investment hedges $ (127) $ 97 $ — $ 1 $ 40 $ 37 Derivatives in Cash Flow Hedging Relationships Interest rate contracts (51) — (2) — — — Total cash flow hedges $ (51) $ — $ (2) $ — $ — $ — Total $ (178) $ 97 $ (2) $ 1 $ 40 $ 37
Components of Accumulated Other Comprehensive Income	The cumulative amount of net investment hedge and cash flow hedge gains (losses) remaining in AOCL is as follows: Cumulative Gains/(Losses), net of tax September 30, 2020 December 31, 2019 Net investment hedges Cross currency swaps $ (40) $ 41 FX forwards 27 26 Long-term debt (60) (13) Total net investment hedges $ (73) $ 54 Cash flow hedges Interest rate contracts $ (51) $ (2) Cross currency swaps 2 2 Total cash flow hedges (49) — Total net (loss) gain in AOCL $ (122) $ 54 The following tables show changes in AOCL by component (net of tax): Three Months Ended September 30, 2020 September 30, 2019 Gains/(Losses) Pension and Other Retirement Benefits Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Pension and Other Retirement Benefits Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Balance June 30, $ (84) $ (49) $ (479) $ 70 $ (542) $ (70) $ — $ (401) $ 25 $ (446) Other comprehensive income/(loss) before reclassifications (7) — 186 (143) 36 — — (193) 102 (91) Amounts reclassified from AOCL 2 — — — 2 1 — — (1) — Other comprehensive income/(loss) (5) — 186 (143) 38 1 — (193) 101 (91) Balance September 30, $ (89) $ (49) $ (293) $ (73) $ (504) $ (69) $ — $ (594) $ 126 $ (537) Nine Months Ended September 30, 2020 September 30, 2019 Gains/(Losses) Pension and Other Retirement Benefits Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Pension and Other Retirement Benefits Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Balance December 31, $ (92) $ — $ (401) $ 54 $ (439) $ (53) $ — $ (406) $ 33 $ (426) Other comprehensive income/(loss) before reclassifications (1) (50) 108 (127) (70) (1) — (188) 97 (92) Amounts reclassified from AOCL 4 1 — — 5 2 — — (1) 1 Adoption of ASU 2018-02 — — — — — (17) — — (3) (20) Other comprehensive income/(loss) 3 (49) 108 (127) (65) (16) — (188) 93 (111) Balance September 30, $ (89) $ (49) $ (293) $ (73) $ (504) $ (69) $ — $ (594) $ 126 $ (537)
Gains and Losses Recognized in Consolidated Statement of Operations on Derivatives Not Designated as Hedging instruments	The following table summarizes the impact to the consolidated statements of operations relating to the net losses on the Company’s derivatives which are not designated as hedging instruments: Derivatives not designated as accounting hedges Location on Statement of Operations Three Months Ended Nine Months Ended 2020 2019 2020 2019 Foreign exchange forwards Other non-operating income, net $ 36 $ (26) $ 1 $ (35)
Fair Value of Derivative Instruments	The table below shows the classification between assets and liabilities on the Company’s consolidated balance sheets for the fair value of the derivative instrument as well as the carrying value of its non-derivative debt instruments designated and qualifying as net investment hedges: Derivative and Non-Derivative Instruments Balance Sheet Location September 30, 2020 December 31, 2019 Assets: Derivatives designated as accounting hedges: Cross-currency swaps designated as net investment hedges Other assets $ 9 $ 56 Interest rate swaps designated as fair value hedges Other assets 63 27 FX forwards designated as net investment hedges Other current assets 2 — Total derivatives designated as accounting hedges 74 83 Derivatives not designated as accounting hedges: FX forwards on certain assets and liabilities Other current assets 5 9 Total assets $ 79 $ 92 Liabilities: Derivatives designated as accounting hedges: Cross-currency swaps designated as net investment hedges Other liabilities $ 63 $ — Interest rate swaps designated as fair value hedges Other liabilities 1 — Total derivatives designated as accounting hedges 64 — Non-derivatives designated as accounting hedges: Long-term debt designated as net investment hedge Long-term debt 1,465 1,403 Derivatives not designated as accounting hedges: FX forwards on certain assets and liabilities Accounts payable and accrued liabilities 5 — Total liabilities $ 1,534 $ 1,403

GOODWILL AND OTHER ACQUIRED I_2

GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS (Tables)	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Activity in Goodwill	The following table summarizes the activity in goodwill for the periods indicated: Nine Months Ended September 30, 2020 MIS MA Consolidated Gross goodwill Accumulated impairment charge Net goodwill Gross goodwill Accumulated impairment charge Net goodwill Gross goodwill Accumulated impairment charge Net goodwill Balance at beginning of year $ 315 $ — $ 315 $ 3,419 $ (12) $ 3,407 $ 3,734 $ (12) $ 3,722 Additions/ adjustments (1) (2) — (2) 497 — 497 495 — 495 Foreign currency translation adjustments (11) — (11) 76 — 76 65 — 65 Ending balance $ 302 $ — $ 302 $ 3,992 $ (12) $ 3,980 $ 4,294 $ (12) $ 4,282 Year Ended December 31, 2019 MIS MA Consolidated Gross goodwill Accumulated impairment charge Net goodwill Gross goodwill Accumulated impairment charge Net goodwill Gross goodwill Accumulated impairment charge Net goodwill Balance at beginning of year $ 258 $ — $ 258 $ 3,535 $ (12) $ 3,523 $ 3,793 $ (12) $ 3,781 Additions/ adjustments (2) 53 — 53 61 — 61 114 — 114 Foreign currency translation adjustments 4 — 4 (14) — (14) (10) — (10) Divestiture of MAKS — — — (163) — (163) (163) — (163) Ending balance $ 315 $ — $ 315 $ 3,419 $ (12) $ 3,407 $ 3,734 $ (12) $ 3,722 (1) The 2020 additions/adjustments for the MA segment in the table above primarily relate to the acquisitions of RDC and RBA. (2) The 2019 additions/adjustments for the MIS segment in the table above relate to the acquisitions of Vigeo Eiris and Four Twenty Seven. The 2019 additions/adjustments for the MA segment in the table above relate to the acquisition of RiskFirst and ABS Suite.
Acquired Intangible Assets and Related Amortization	Acquired intangible assets and related amortization consisted of: September 30, December 31, Customer relationships $ 1,524 $ 1,325 Accumulated amortization (287) (235) Net customer relationships 1,237 1,090 Trade secrets 30 30 Accumulated amortization (29) (29) Net trade secrets 1 1 Software/product technology 378 372 Accumulated amortization (152) (131) Net software/product technology 226 241 Trade names 152 150 Accumulated amortization (35) (30) Net trade names 117 120 Other (1) 182 80 Accumulated amortization (46) (34) Net other 136 46 Total acquired intangible assets, net $ 1,717 $ 1,498 (1) Other intangible assets primarily consist of databases, covenants not to compete, and acquired ratings methodologies and models.
Amortization Expense Relating to Acquired Intangible Assets	Amortization expense relating to acquired intangible assets is as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Amortization expense $ 31 $ 24 $ 90 $ 77
Estimated Future Amortization Expense for Acquired Intangible Assets Subject to Amortization	Estimated future amortization expense for acquired intangible assets subject to amortization is as follows: Year Ending December 31, 2020 (After September 30,) $ 31 2021 121 2022 120 2023 116 2024 108 Thereafter 1,221 Total estimated future amortization $ 1,717

RESTRUCTURING (Tables)

RESTRUCTURING (Tables)	9 Months Ended
	Sep. 30, 2020
Restructuring and Related Activities [Abstract]
Restructuring Expenses Included in Consolidated Statements of Operations	Total expenses included in the accompanying consolidated statements of operations relating to the 2018 Restructuring Program and 2020 Restructuring Program are as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 2018 Restructuring Program $ — $ (1) $ (3) $ 58 2020 Restructuring Program (1) 23 — 23 — Total Restructuring $ 23 $ (1) $ 20 $ 58 (1) Consists of a non-cash charge relating to the impairment of leasehold improvements and ROU Assets. The fair value of the impaired ROU Assets was determined by utilizing the present value of the estimated future cash flows attributable to the assets. The fair value of these ROU assets immediately subsequent to the impairment was $10 million, and is categorized as Level 3 within the ASC Topic 820 fair value hierarchy.

FAIR VALUE (Tables)

FAIR VALUE (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Financial Instruments Carried at Fair Value on Recurring Basis	The table below presents information about items that are carried at fair value at September 30, 2020 and December 31, 2019: Fair value Measurement as of September 30, 2020 Description Balance Level 1 Level 2 Assets: Derivatives (1) $ 79 $ — $ 79 Mutual funds 50 50 — Total $ 129 $ 50 $ 79 Liabilities: Derivatives (1) $ 69 $ — $ 69 Total $ 69 $ — $ 69 Fair value Measurement as of December 31, 2019 Description Balance Level 1 Level 2 Assets: Derivatives (1) $ 92 $ — $ 92 Mutual funds 3 3 — Total $ 95 $ 3 $ 92 (1) Represents FX forwards on certain assets and liabilities as well as interest rate swaps, cross-currency swaps and forward contracts as more fully described in Note 10 to the condensed consolidated financial statements.

OTHER BALANCE SHEET AND STATE_2

OTHER BALANCE SHEET AND STATEMENT OF OPERATIONS INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2020
Other Balance Sheet And Statement Of Operations Information [Abstract]
Additional Details Related to Certain Balance Sheet Captions	The following tables contain additional detail related to certain balance sheet captions: September 30, 2020 December 31, 2019 Other current assets: Prepaid taxes $ 121 $ 79 Prepaid expenses 77 71 Capitalized costs to obtain and fulfill sales contracts 80 91 Other 55 89 Total other current assets $ 333 $ 330 Other assets: Investments in non-consolidated affiliates $ 123 $ 117 Deposits for real-estate leases 16 13 Indemnification assets related to acquisitions 16 16 Mutual funds and fixed deposits 54 10 Company owned life insurance (at contract value) 14 — Costs to obtain sales contracts 118 119 Cross currency and interest rate swaps 72 83 Other 55 31 Total other assets $ 468 $ 389 Accounts payable and accrued liabilities: Salaries and benefits $ 131 $ 152 Incentive compensation 160 208 Customer credits, advanced payments and advanced billings 44 28 Dividends 7 7 Professional service fees 51 43 Interest accrued on debt 43 63 Accounts payable 26 38 Income taxes 97 73 Pension and other retirement employee benefits 7 7 Accrued royalties 13 25 Foreign exchange forwards on certain assets and liabilities 5 — Restructuring liability 4 21 Other 124 108 Total accounts payable and accrued liabilities $ 712 $ 773 September 30, 2020 December 31, 2019 Other liabilities: Pension and other retirement employee benefits $ 214 $ 299 Interest accrued on UTPs 107 82 MAKS indemnification provisions 33 43 Income tax liability - non-current portion 51 51 Cross currency and interest rate swaps 64 — Restructuring liability 2 3 Other 27 26 Total other liabilities $ 498 $ 504
Other Non-Operating	The following table summarizes the components of other non-operating income (expense): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 FX gain (loss) $ 2 $ 1 $ 7 $ (15) Net periodic pension costs - other components 3 4 10 13 Income from investments in non-consolidated affiliates 4 4 4 11 Other 1 1 17 3 Total $ 10 $ 10 $ 38 $ 12

COMPREHENSIVE INCOME AND ACCU_2

COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Reclassifications out of AOCI	The following table provides details about the reclassifications out of AOCL: Losses on cash flow hedges Three Months Ended Nine Months Ended Location in the consolidated statement of operations Interest rate contract $ — $ (1) Other non-operating expense, net Income tax effect of items above — — Provision for income taxes Total net losses on cash flow hedges — (1) Pension and other retirement benefits Amortization of actuarial losses and prior service costs included in net income (1) (3) Operating expense Amortization of actuarial losses and prior service costs included in net income (1) (2) SG&A expense Total before income taxes (2) (5) Income tax effect of item above — 1 Provision for income taxes Total pension and other retirement benefits (2) (4) Total net losses included in Net Income attributable to reclassifications out of AOCL $ (2) $ (5) Location in the consolidated statement of operations Gains (losses) on cash flow hedges Three Months Ended Nine Months Ended Cross-currency swap $ — $ — Other non-operating income, net Interest rate contract — — Interest expense, net Total before income taxes — — Income tax effect of items above — — Provision for income taxes Total net gains (losses) on cash flow hedges — — Gains on net investment hedges FX forwards 1 1 Other non-operating income, net Income tax effect of item above — — Provision for income taxes Total net gains on net investment hedges 1 1 Pension and other retirement benefits Amortization of actuarial losses and prior service costs included in net income (1) (2) Operating expense Amortization of actuarial losses and prior service costs included in net income — (1) SG&A expense Total before income taxes (1) (3) Income tax effect of item above — 1 Provision for income taxes Total pension and other retirement benefits (1) (2) Total net losses included in Net Income attributable to reclassifications out of AOCL $ — $ (1)
Components of Accumulated Other Comprehensive Income	The cumulative amount of net investment hedge and cash flow hedge gains (losses) remaining in AOCL is as follows: Cumulative Gains/(Losses), net of tax September 30, 2020 December 31, 2019 Net investment hedges Cross currency swaps $ (40) $ 41 FX forwards 27 26 Long-term debt (60) (13) Total net investment hedges $ (73) $ 54 Cash flow hedges Interest rate contracts $ (51) $ (2) Cross currency swaps 2 2 Total cash flow hedges (49) — Total net (loss) gain in AOCL $ (122) $ 54 The following tables show changes in AOCL by component (net of tax): Three Months Ended September 30, 2020 September 30, 2019 Gains/(Losses) Pension and Other Retirement Benefits Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Pension and Other Retirement Benefits Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Balance June 30, $ (84) $ (49) $ (479) $ 70 $ (542) $ (70) $ — $ (401) $ 25 $ (446) Other comprehensive income/(loss) before reclassifications (7) — 186 (143) 36 — — (193) 102 (91) Amounts reclassified from AOCL 2 — — — 2 1 — — (1) — Other comprehensive income/(loss) (5) — 186 (143) 38 1 — (193) 101 (91) Balance September 30, $ (89) $ (49) $ (293) $ (73) $ (504) $ (69) $ — $ (594) $ 126 $ (537) Nine Months Ended September 30, 2020 September 30, 2019 Gains/(Losses) Pension and Other Retirement Benefits Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Pension and Other Retirement Benefits Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Balance December 31, $ (92) $ — $ (401) $ 54 $ (439) $ (53) $ — $ (406) $ 33 $ (426) Other comprehensive income/(loss) before reclassifications (1) (50) 108 (127) (70) (1) — (188) 97 (92) Amounts reclassified from AOCL 4 1 — — 5 2 — — (1) 1 Adoption of ASU 2018-02 — — — — — (17) — — (3) (20) Other comprehensive income/(loss) 3 (49) 108 (127) (65) (16) — (188) 93 (111) Balance September 30, $ (89) $ (49) $ (293) $ (73) $ (504) $ (69) $ — $ (594) $ 126 $ (537)

PENSION AND OTHER RETIREMENT _2

PENSION AND OTHER RETIREMENT BENEFITS (Tables)	9 Months Ended
	Sep. 30, 2020
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Expense Related to Post-Retirement Plans	The components of net periodic benefit expense related to the Retirement Plans are as follows: Three Months Ended September 30, Pension Plans Other Retirement Plans 2020 2019 2020 2019 Components of net periodic expense Service cost $ 5 $ 4 $ — $ 1 Interest cost 4 5 1 — Expected return on plan assets (5) (5) — — Amortization of net actuarial loss from earlier periods 2 1 — — Net periodic expense $ 6 $ 5 $ 1 $ 1 Nine Months Ended September 30, Pension Plans Other Retirement Plans 2020 2019 2020 2019 Components of net periodic expense Service cost $ 13 $ 12 $ 2 $ 2 Interest cost 13 15 1 1 Expected return on plan assets (15) (15) — — Amortization of net actuarial loss from earlier periods 5 3 — — Net periodic expense $ 16 $ 15 $ 3 $ 3

INDEBTEDNESS (Tables)

INDEBTEDNESS (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Summary of Total Indebtedness	The following table summarizes total indebtedness: September 30, 2020 Notes Payable: Principal Amount Fair Value of Interest Rate Swaps (1) Unamortized (Discount) Premium Unamortized Debt Issuance Costs Carrying Value 4.50% 2012 Senior Notes, due 2022 $ 500 $ 16 $ (1) $ (1) $ 514 4.875% 2013 Senior Notes, due 2024 500 — (1) (1) 498 5.25% 2014 Senior Notes (30-Year), due 2044 600 — 4 (5) 599 1.75% 2015 Senior Notes, due 2027 586 — — (2) 584 2.625% 2017 Senior Notes, due 2023 500 13 (1) (2) 510 3.25% 2017 Senior Notes, due 2028 500 34 (4) (3) 527 4.25% 2018 Senior Notes, due 2029 400 — (2) (3) 395 4.875% 2018 Senior Notes, due 2048 400 — (7) (4) 389 0.950% 2019 Senior Notes, due 2030 879 — (3) (6) 870 3.75% 2020 Senior Notes, due 2025 700 (1) (1) (5) 693 3.25% 2020 Senior Notes, due 2050 300 — (4) (3) 293 2.55% 2020 Senior Notes, due 2060 500 — (4) (5) 491 Total long-term debt $ 6,365 $ 62 $ (24) $ (40) $ 6,363 December 31, 2019 Notes Payable: Principal Amount Fair Value of Interest Rate Swaps (1) Unamortized (Discount) Premium Unamortized Debt Issuance Costs Carrying Value 4.50% 2012 Senior Notes, due 2022 $ 500 $ 9 $ (1) $ (1) $ 507 4.875% 2013 Senior Notes, due 2024 500 — (1) (2) 497 5.25% 2014 Senior Notes (30-Year), due 2044 600 — 4 (5) 599 1.75% 2015 Senior Notes, due 2027 561 — — (3) 558 2.75% 2017 Senior Notes, due 2021 500 11 (1) (2) 508 2.625% 2017 Senior Notes, due 2023 500 7 (1) (2) 504 3.25% 2017 Senior Notes, due 2028 500 — (4) (3) 493 3.25% 2018 Senior Notes, due 2021 300 — — (1) 299 4.25% 2018 Senior Notes, due 2029 400 — (3) (3) 394 4.875% 2018 Senior Notes, due 2048 400 — (7) (4) 389 0.950% 2019 Senior Notes, due 2030 842 — (3) (6) 833 Total long-term debt $ 5,603 $ 27 $ (17) $ (32) $ 5,581 (1) The fair value of interest rate swaps in the table above represents the cumulative amount of fair value hedging adjustments included in the carrying amount of the hedged debt.
Principal Payments Due on Long-Term Borrowings	The repayment schedule for the Company’s borrowings is as follows: Year Ending December 31, 2012 Senior Notes due 2022 2013 Senior Notes due 2024 2014 Senior Notes (30-Year) due 2044 2015 Senior Notes due 2027 2017 Senior Notes due 2023 2017 Senior Notes due 2028 2018 Senior Notes due 2029 2018 Senior Notes due 2048 2019 Senior Notes due 2030 2020 Senior Notes due 2025 2020 Senior Notes due 2050 2020 Senior Notes due 2060 Total 2020 (After September 30,) $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — 2021 — — — — — — — — — — — — — 2022 500 — — — — — — — — — — — 500 2023 — — — — 500 — — — — — — — 500 2024 — 500 — — — — — — — — — — 500 Thereafter — — 600 586 — 500 400 400 879 700 300 500 4,865 Total $ 500 $ 500 $ 600 $ 586 $ 500 $ 500 $ 400 $ 400 $ 879 $ 700 $ 300 $ 500 $ 6,365
Summary of Components of Interest as Presented in Consolidated Statements of Operations	The following table summarizes the components of interest as presented in the consolidated statements of operations: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Income $ 2 $ 3 $ 9 $ 12 Expense on borrowings (42) (37) (121) (125) UTPs and other tax related liabilities (9) (7) (27) (20) Net periodic pension costs - interest component (4) (6) (14) (17) Capitalized — 1 — 1 Total $ (53) $ (46) $ (153) $ (149)
Interest Paid	The following table shows the cash paid for interest: Nine Months Ended 2020 2019 Interest paid $ 119 $ 149
Fair Value and Carrying Value of Long-Term Debt	The fair value and carrying value of the Company’s debt as of September 30, 2020 and December 31, 2019 are as follows: September 30, 2020 December 31, 2019 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value 4.50% 2012 Senior Notes, due 2022 $ 514 $ 535 $ 507 $ 531 4.875% 2013 Senior Notes, due 2024 498 565 497 551 5.25% 2014 Senior Notes (30-Year), due 2044 599 822 599 757 1.75% 2015 Senior Notes, due 2027 584 643 558 604 2.75% 2017 Senior Notes, due 2021 — — 508 507 2.625% 2017 Senior Notes, due 2023 510 523 504 507 3.25% 2017 Senior Notes, due 2028 527 566 493 523 3.25% 2018 Senior Notes, due 2021 — — 299 306 4.25% 2018 Senior Notes, due 2029 395 479 394 453 4.875% 2018 Senior Notes, due 2048 389 540 389 492 0.950% 2019 Senior Notes, due 2030 870 923 833 847 3.75% 2020 Senior Notes, due 2025 693 789 — — 3.25% 2020 Senior Notes, due 2050 293 320 — — 2.55% 2020 Senior Notes, due 2060 491 458 — — Total $ 6,363 $ 7,163 $ 5,581 $ 6,078

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Components of Lease Cost	The following table presents the components of the Company’s lease cost: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Operating lease cost $ 24 $ 24 $ 72 $ 73 Sublease income (1) — (3) — Variable lease cost 4 5 14 13 Total lease cost $ 27 $ 29 $ 83 $ 86
Schedule of Operating Leases Information	The following tables present other information related to the Company’s operating leases: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Cash paid for amounts included in the measurement of operating lease liabilities $ 27 $ 27 $ 80 $ 80 Right-of-use assets obtained in exchange for new operating lease liabilities $ 7 $ 12 $ 26 $ 28 September 30, 2020 September 30, 2019 Weighted-average remaining lease term 6.3 years 6.9 years Weighted-average discount rate applied to operating leases 3.6 % 3.6 %
Lessee, Operating Lease, Liability, Maturity	The following table presents a maturity analysis of the future minimum lease payments included within the Company’s operating lease liabilities at September 30, 2020: Year Ending December 31, Operating Leases 2020 (After September 30) $ 27 2021 107 2022 96 2023 90 2024 81 After 2024 191 Total lease payments (undiscounted) 592 Less: Interest 62 Present value of lease liabilities: $ 530 Lease liabilities - current $ 91 Lease liabilities - noncurrent $ 439

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting Information [Line Items]
Financial Information by Segment	The table below shows revenue, operating income and Adjusted Operating Income by reportable segment. Adjusted Operating Income is a financial metric utilized by the Company’s chief operating decision maker to assess the profitability of each reportable segment. Refer to Note 3 for further details on the components of the Company’s revenue. Three Months Ended September 30, 2020 2019 MIS MA Eliminations Consolidated MIS MA Eliminations Consolidated Revenue $ 863 $ 532 $ (39) $ 1,356 $ 781 $ 496 $ (37) $ 1,240 Total Expense 339 414 (39) 714 340 388 (37) 691 Operating income 524 118 — 642 441 108 — 549 Add: Restructuring 13 10 — 23 — (1) — (1) Depreciation and amortization 17 39 — 56 18 30 — 48 Loss pursuant to the divestiture of MAKS — — — — — 2 — 2 Captive insurance company settlement — — — — 10 6 — 16 Adjusted Operating Income $ 554 $ 167 $ — $ 721 $ 469 $ 145 $ — $ 614 Nine Months Ended September 30, 2020 2019 MIS MA Eliminations Consolidated MIS MA Eliminations Consolidated Revenue $ 2,667 $ 1,529 $ (115) $ 4,081 $ 2,255 $ 1,448 $ (107) $ 3,596 Total Expenses 1,051 1,201 (115) 2,137 1,028 1,181 (107) 2,102 Operating income 1,616 328 — 1,944 1,227 267 — 1,494 Add: Restructuring 12 8 — 20 29 29 — 58 Depreciation and amortization 52 111 — 163 53 97 — 150 Acquisition-Related Expenses — — — — — 3 — 3 Loss pursuant to the divestiture of MAKS — 9 — 9 — 11 — 11 Captive insurance company settlement — — — — 10 6 — 16 Adjusted Operating Income $ 1,680 $ 456 $ — $ 2,136 $ 1,319 $ 413 $ — $ 1,732
Company's Reportable Segment Revenues Disaggregated by Segment and Geographic Region	The following table presents the Company’s reportable segment revenues disaggregated by segment and geographic region: Three Months Ended Nine Months Ended 2020 2019 2020 2019 MIS: U.S. $ 506 $ 454 $ 1,625 $ 1,301 Non-U.S.: EMEA 188 175 542 502 Asia-Pacific 99 78 270 241 Americas 32 39 120 111 Total Non-U.S. 319 292 932 854 Total MIS 825 746 2,557 2,155 MA: U.S. 223 206 655 609 Non-U.S.: EMEA 213 187 595 555 Asia-Pacific 57 64 166 174 Americas 38 37 108 103 Total Non-U.S. 308 288 869 832 Total MA 531 494 1,524 1,441 Total MCO $ 1,356 $ 1,240 $ 4,081 $ 3,596
Operating Segments
Segment Reporting Information [Line Items]
Company's Reportable Segment Revenues Disaggregated by Segment and Geographic Region	Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 United States $ 729 $ 660 $ 2,280 $ 1,910 Non-U.S.: EMEA 401 362 1,137 1,057 Asia-Pacific 156 142 436 415 Americas 70 76 228 214 Total Non-U.S. 627 580 1,801 1,686 Total $ 1,356 $ 1,240 $ 4,081 $ 3,596

Description of Business and B_2

Description of Business and Basis of Presentation - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)segment	Jun. 30, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)
New Accounting Pronouncement, Early Adoption [Line Items]
Number of reportable segments | segment	2
Shareholders' equity	$ 1,688	$ 1,232	$ 831	$ 697	$ 575	$ 656
Increase in long term debt, net	700
Retained Earnings
New Accounting Pronouncement, Early Adoption [Line Items]
Shareholders' equity	$ 10,804	$ 10,442	9,656	$ 9,391	$ 9,108	8,594
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncement, Early Adoption [Line Items]
Shareholders' equity			(2)			0
Cumulative Effect, Period of Adoption, Adjustment | Retained Earnings
New Accounting Pronouncement, Early Adoption [Line Items]
Shareholders' equity			$ (2)			$ 20

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Accounting Policies [Abstract]
Expected credit losses	$ 31

Revenues - Revenue by Category

Revenues - Revenue by Category (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 1,356	$ 1,240	$ 4,081	$ 3,596
Eliminations
Disaggregation of Revenue [Line Items]
Revenue	(39)	(37)	(115)	(107)
MIS
Disaggregation of Revenue [Line Items]
Revenue	825	746	2,557	2,155
MIS | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	863	781	2,667	2,255
MIS | Eliminations
Disaggregation of Revenue [Line Items]
Revenue	38	35	110	100
MIS | Corporate Finance (CFG)
Disaggregation of Revenue [Line Items]
Revenue	461	392	1,486	1,135
MIS | Corporate Finance (CFG) | Investment-grade
Disaggregation of Revenue [Line Items]
Revenue	141	106	576	299
MIS | Corporate Finance (CFG) | High-yield
Disaggregation of Revenue [Line Items]
Revenue	101	56	275	182
MIS | Corporate Finance (CFG) | Bank loans
Disaggregation of Revenue [Line Items]
Revenue	73	90	205	246
MIS | Corporate Finance (CFG) | Other accounts
Disaggregation of Revenue [Line Items]
Revenue	146	140	430	408
MIS | Structured Finance (SFG)
Disaggregation of Revenue [Line Items]
Revenue	88	105	265	318
MIS | Structured Finance (SFG) | Other accounts
Disaggregation of Revenue [Line Items]
Revenue	0	1	2	3
MIS | Structured Finance (SFG) | Asset-backed securities
Disaggregation of Revenue [Line Items]
Revenue	25	25	70	74
MIS | Structured Finance (SFG) | RMBS
Disaggregation of Revenue [Line Items]
Revenue	24	21	74	69
MIS | Structured Finance (SFG) | CMBS
Disaggregation of Revenue [Line Items]
Revenue	15	18	45	56
MIS | Structured Finance (SFG) | Structured credit
Disaggregation of Revenue [Line Items]
Revenue	24	40	74	116
MIS | Financial Institutions (FIG)
Disaggregation of Revenue [Line Items]
Revenue	134	120	401	361
MIS | Financial Institutions (FIG) | Other accounts
Disaggregation of Revenue [Line Items]
Revenue	2	3	7	9
MIS | Financial Institutions (FIG) | Banking
Disaggregation of Revenue [Line Items]
Revenue	95	80	269	244
MIS | Financial Institutions (FIG) | Insurance
Disaggregation of Revenue [Line Items]
Revenue	31	31	105	88
MIS | Financial Institutions (FIG) | Managed investments
Disaggregation of Revenue [Line Items]
Revenue	6	6	20	20
MIS | Public, Project And Infrastructure Finance (PPIF)
Disaggregation of Revenue [Line Items]
Revenue	133	120	375	321
MIS | Public, Project And Infrastructure Finance (PPIF) | Public finance / sovereign
Disaggregation of Revenue [Line Items]
Revenue	71	58	192	157
MIS | Public, Project And Infrastructure Finance (PPIF) | Project and infrastructure
Disaggregation of Revenue [Line Items]
Revenue	62	62	183	164
MIS | Rating Revenue
Disaggregation of Revenue [Line Items]
Revenue	816	737	2,527	2,135
MIS | MIS Other
Disaggregation of Revenue [Line Items]
Revenue	9	9	30	20
MA
Disaggregation of Revenue [Line Items]
Revenue	531	494	1,524	1,441
MA | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	532	496	1,529	1,448
MA | Eliminations
Disaggregation of Revenue [Line Items]
Revenue	1	2	5	7
MA | Research, Data And Analytics (RD&A)
Disaggregation of Revenue [Line Items]
Revenue	386	317	1,110	940
MA | Enterprise Risk Solutions (ERS)
Disaggregation of Revenue [Line Items]
Revenue	145	134	414	373
MA | Professional Services (PS)
Disaggregation of Revenue [Line Items]
Revenue	$ 0	$ 43	$ 0	$ 128

Revenues - Revenues disaggregat

Revenues - Revenues disaggregated by Line of Business and Geographical Area (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 1,356	$ 1,240	$ 4,081	$ 3,596
United States
Disaggregation of Revenue [Line Items]
Revenue	729	660	2,280	1,910
Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	627	580	1,801	1,686
MIS
Disaggregation of Revenue [Line Items]
Revenue	825	746	2,557	2,155
MIS | United States
Disaggregation of Revenue [Line Items]
Revenue	506	454	1,625	1,301
MIS | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	319	292	932	854
MIS | Corporate Finance (CFG)
Disaggregation of Revenue [Line Items]
Revenue	461	392	1,486	1,135
MIS | Corporate Finance (CFG) | United States
Disaggregation of Revenue [Line Items]
Revenue	311	259	1,038	744
MIS | Corporate Finance (CFG) | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	150	133	448	391
MIS | Structured Finance (SFG)
Disaggregation of Revenue [Line Items]
Revenue	88	105	265	318
MIS | Structured Finance (SFG) | United States
Disaggregation of Revenue [Line Items]
Revenue	54	68	160	202
MIS | Structured Finance (SFG) | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	34	37	105	116
MIS | Financial Institutions (FIG)
Disaggregation of Revenue [Line Items]
Revenue	134	120	401	361
MIS | Financial Institutions (FIG) | United States
Disaggregation of Revenue [Line Items]
Revenue	59	54	189	152
MIS | Financial Institutions (FIG) | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	75	66	212	209
MIS | Public, Project And Infrastructure Finance (PPIF)
Disaggregation of Revenue [Line Items]
Revenue	133	120	375	321
MIS | Public, Project And Infrastructure Finance (PPIF) | United States
Disaggregation of Revenue [Line Items]
Revenue	82	73	237	202
MIS | Public, Project And Infrastructure Finance (PPIF) | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	51	47	138	119
MIS | Rating Revenue
Disaggregation of Revenue [Line Items]
Revenue	816	737	2,527	2,135
MIS | Rating Revenue | United States
Disaggregation of Revenue [Line Items]
Revenue	506	454	1,624	1,300
MIS | Rating Revenue | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	310	283	903	835
MIS | MIS Other
Disaggregation of Revenue [Line Items]
Revenue	9	9	30	20
MIS | MIS Other | United States
Disaggregation of Revenue [Line Items]
Revenue	0	0	1	1
MIS | MIS Other | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	9	9	29	19
MA
Disaggregation of Revenue [Line Items]
Revenue	531	494	1,524	1,441
MA | United States
Disaggregation of Revenue [Line Items]
Revenue	223	206	655	609
MA | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	308	288	869	832
MA | Research, Data And Analytics (RD&A)
Disaggregation of Revenue [Line Items]
Revenue	386	317	1,110	940
MA | Research, Data And Analytics (RD&A) | United States
Disaggregation of Revenue [Line Items]
Revenue	167	139	492	412
MA | Research, Data And Analytics (RD&A) | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	219	178	618	528
MA | Enterprise Risk Solutions (ERS)
Disaggregation of Revenue [Line Items]
Revenue	145	134	414	373
MA | Enterprise Risk Solutions (ERS) | United States
Disaggregation of Revenue [Line Items]
Revenue	56	49	163	143
MA | Enterprise Risk Solutions (ERS) | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	89	85	251	230
MA | Professional Services
Disaggregation of Revenue [Line Items]
Revenue	0	43	0	128
MA | Professional Services | United States
Disaggregation of Revenue [Line Items]
Revenue	0	18	0	54
MA | Professional Services | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	$ 0	$ 25	$ 0	$ 74

Revenues - Consolidated Revenue

Revenues - Consolidated Revenue Information by Geographic Area (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Revenue	$ 1,356	$ 1,240	$ 4,081	$ 3,596
MIS
Segment Reporting Information [Line Items]
Revenue	825	746	2,557	2,155
MA
Segment Reporting Information [Line Items]
Revenue	531	494	1,524	1,441
United States
Segment Reporting Information [Line Items]
Revenue	729	660	2,280	1,910
United States | MIS
Segment Reporting Information [Line Items]
Revenue	506	454	1,625	1,301
United States | MA
Segment Reporting Information [Line Items]
Revenue	223	206	655	609
EMEA
Segment Reporting Information [Line Items]
Revenue	401	362	1,137	1,057
EMEA | MIS
Segment Reporting Information [Line Items]
Revenue	188	175	542	502
EMEA | MA
Segment Reporting Information [Line Items]
Revenue	213	187	595	555
Asia-Pacific
Segment Reporting Information [Line Items]
Revenue	156	142	436	415
Asia-Pacific | MIS
Segment Reporting Information [Line Items]
Revenue	99	78	270	241
Asia-Pacific | MA
Segment Reporting Information [Line Items]
Revenue	57	64	166	174
Americas
Segment Reporting Information [Line Items]
Revenue	70	76	228	214
Americas | MIS
Segment Reporting Information [Line Items]
Revenue	32	39	120	111
Americas | MA
Segment Reporting Information [Line Items]
Revenue	38	37	108	103
Non-U.S.
Segment Reporting Information [Line Items]
Revenue	627	580	1,801	1,686
Non-U.S. | MIS
Segment Reporting Information [Line Items]
Revenue	319	292	932	854
Non-U.S. | MA
Segment Reporting Information [Line Items]
Revenue	$ 308	$ 288	$ 869	$ 832

Revenues - Transaction and Rela

Revenues - Transaction and Relationship Revenue (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 1,356	$ 1,240	$ 4,081	$ 3,596
Percentage of Revenues	100.00%	100.00%	100.00%	100.00%
MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 825	$ 746	$ 2,557	$ 2,155
Percentage of Revenues	100.00%	100.00%	100.00%	100.00%
MA
Disaggregation of Revenue [Line Items]
Revenue	$ 531	$ 494	$ 1,524	$ 1,441
Percentage of Revenues	100.00%	100.00%	100.00%	100.00%
Corporate Finance (CFG) | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 461	$ 392	$ 1,486	$ 1,135
Percentage of Revenues	100.00%	100.00%	100.00%	100.00%
Structured Finance (SFG) | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 88	$ 105	$ 265	$ 318
Percentage of Revenues	100.00%	100.00%	100.00%	100.00%
Financial Institutions (FIG) | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 134	$ 120	$ 401	$ 361
Percentage of Revenues	100.00%	100.00%	100.00%	100.00%
Public, Project And Infrastructure Finance (PPIF) | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 133	$ 120	$ 375	$ 321
Percentage of Revenues	100.00%	100.00%	100.00%	100.00%
MIS Other | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 9	$ 9	$ 30	$ 20
Percentage of Revenues	100.00%	100.00%	100.00%	100.00%
Research, Data And Analytics (RD&A) | MA
Disaggregation of Revenue [Line Items]
Revenue	$ 386	$ 317	$ 1,110	$ 940
Percentage of Revenues	100.00%	100.00%	100.00%	100.00%
Enterprise Risk Solutions (ERS) | MA
Disaggregation of Revenue [Line Items]
Revenue	$ 145	$ 134	$ 414	$ 373
Percentage of Revenues	100.00%	100.00%	100.00%	100.00%
Professional Services | MA
Disaggregation of Revenue [Line Items]
Revenue	$ 0	$ 43	$ 0	$ 128
Percentage of Revenues	0.00%	100.00%	0.00%	100.00%
Transaction Revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 599	$ 556	$ 1,874	$ 1,585
Percentage of Revenues	44.00%	45.00%	46.00%	44.00%
Transaction Revenue | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 548	$ 478	$ 1,731	$ 1,366
Percentage of Revenues	66.00%	64.00%	68.00%	63.00%
Transaction Revenue | MA
Disaggregation of Revenue [Line Items]
Revenue	$ 51	$ 78	$ 143	$ 219
Percentage of Revenues	10.00%	16.00%	9.00%	15.00%
Transaction Revenue | Corporate Finance (CFG) | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 347	$ 282	$ 1,142	$ 808
Percentage of Revenues	75.00%	72.00%	77.00%	71.00%
Transaction Revenue | Structured Finance (SFG) | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 41	$ 58	$ 126	$ 184
Percentage of Revenues	47.00%	55.00%	48.00%	58.00%
Transaction Revenue | Financial Institutions (FIG) | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 67	$ 56	$ 203	$ 165
Percentage of Revenues	50.00%	47.00%	51.00%	46.00%
Transaction Revenue | Public, Project And Infrastructure Finance (PPIF) | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 92	$ 82	$ 257	$ 208
Percentage of Revenues	69.00%	68.00%	69.00%	65.00%
Transaction Revenue | MIS Other | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 1	$ 0	$ 3	$ 1
Percentage of Revenues	11.00%	0.00%	10.00%	5.00%
Transaction Revenue | Research, Data And Analytics (RD&A) | MA
Disaggregation of Revenue [Line Items]
Revenue	$ 19	$ 3	$ 53	$ 12
Percentage of Revenues	5.00%	1.00%	5.00%	1.00%
Transaction Revenue | Enterprise Risk Solutions (ERS) | MA
Disaggregation of Revenue [Line Items]
Revenue	$ 32	$ 32	$ 90	$ 79
Percentage of Revenues	22.00%	24.00%	22.00%	21.00%
Transaction Revenue | Professional Services | MA
Disaggregation of Revenue [Line Items]
Revenue	$ 0	$ 43	$ 0	$ 128
Percentage of Revenues	0.00%	100.00%	0.00%	100.00%
Relationship Revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 757	$ 684	$ 2,207	$ 2,011
Percentage of Revenues	56.00%	55.00%	54.00%	56.00%
Relationship Revenue | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 277	$ 268	$ 826	$ 789
Percentage of Revenues	34.00%	36.00%	32.00%	37.00%
Relationship Revenue | MA
Disaggregation of Revenue [Line Items]
Revenue	$ 480	$ 416	$ 1,381	$ 1,222
Percentage of Revenues	90.00%	84.00%	91.00%	85.00%
Relationship Revenue | Corporate Finance (CFG) | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 114	$ 110	$ 344	$ 327
Percentage of Revenues	25.00%	28.00%	23.00%	29.00%
Relationship Revenue | Structured Finance (SFG) | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 47	$ 47	$ 139	$ 134
Percentage of Revenues	53.00%	45.00%	52.00%	42.00%
Relationship Revenue | Financial Institutions (FIG) | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 67	$ 64	$ 198	$ 196
Percentage of Revenues	50.00%	53.00%	49.00%	54.00%
Relationship Revenue | Public, Project And Infrastructure Finance (PPIF) | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 41	$ 38	$ 118	$ 113
Percentage of Revenues	31.00%	32.00%	31.00%	35.00%
Relationship Revenue | MIS Other | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 8	$ 9	$ 27	$ 19
Percentage of Revenues	89.00%	100.00%	90.00%	95.00%
Relationship Revenue | Research, Data And Analytics (RD&A) | MA
Disaggregation of Revenue [Line Items]
Revenue	$ 367	$ 314	$ 1,057	$ 928
Percentage of Revenues	95.00%	99.00%	95.00%	99.00%
Relationship Revenue | Enterprise Risk Solutions (ERS) | MA
Disaggregation of Revenue [Line Items]
Revenue	$ 113	$ 102	$ 324	$ 294
Percentage of Revenues	78.00%	76.00%	78.00%	79.00%
Relationship Revenue | Professional Services | MA
Disaggregation of Revenue [Line Items]
Revenue	$ 0	$ 0	$ 0	$ 0
Percentage of Revenues	0.00%	0.00%	0.00%	0.00%

Revenues - Revenue Recognition

Revenues - Revenue Recognition Timing (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Revenue recognized	$ 1,356	$ 1,240	$ 4,081	$ 3,596
At Point in Time
Disaggregation of Revenue [Line Items]
Revenue recognized	578	509	1,820	1,449
Over Time
Disaggregation of Revenue [Line Items]
Revenue recognized	778	731	2,261	2,147
MIS
Disaggregation of Revenue [Line Items]
Revenue recognized	825	746	2,557	2,155
MIS | At Point in Time
Disaggregation of Revenue [Line Items]
Revenue recognized	548	478	1,731	1,366
MIS | Over Time
Disaggregation of Revenue [Line Items]
Revenue recognized	277	268	826	789
MA
Disaggregation of Revenue [Line Items]
Revenue recognized	531	494	1,524	1,441
MA | At Point in Time
Disaggregation of Revenue [Line Items]
Revenue recognized	30	31	89	83
MA | Over Time
Disaggregation of Revenue [Line Items]
Revenue recognized	$ 501	$ 463	$ 1,435	$ 1,358

Revenues - Additional Informati

Revenues - Additional Information (Detail) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
MIS
Disaggregation of Revenue [Line Items]
Unbilled Receivables	$ 404	$ 346
MA
Disaggregation of Revenue [Line Items]
Unbilled Receivables	$ 89	$ 53

Revenues - Schedule of Changes

Revenues - Schedule of Changes in the Deferred Revenue Balances (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Change in Contract with Customer, Liability [Abstract]
Beginning Balance	$ 1,105	$ 1,071	$ 1,162	$ 1,076
Revenue recognized that was included in the deferred revenue balance at the beginning of the period	(465)	(455)	(988)	(878)
Increases due to amounts billable excluding amounts recognized as revenue during the period	356	372	826	788
Increases due to RDC acquisition during the period			20
Amount included in liabilities reclassified as held for sale				(3)
Effect of exchange rate changes	24	(17)	0	(12)
Total changes in deferred revenue	(85)	(100)	(142)	(105)
Ending Balance	1,020	971	1,020	971
Deferred revenue - current	918	856	918	856	$ 1,050
Deferred revenue - noncurrent	102	115	102	115	$ 112
MIS
Change in Contract with Customer, Liability [Abstract]
Beginning Balance	365	376	322	326
Revenue recognized that was included in the deferred revenue balance at the beginning of the period	(118)	(111)	(207)	(191)
Increases due to amounts billable excluding amounts recognized as revenue during the period	83	82	219	212
Increases due to RDC acquisition during the period			0
Amount included in liabilities reclassified as held for sale				0
Effect of exchange rate changes	5	(3)	1	(3)
Total changes in deferred revenue	(30)	(32)	13	18
Ending Balance	335	344	335	344
Deferred revenue - current	237	234	237	234
Deferred revenue - noncurrent	98	110	98	110
MA
Change in Contract with Customer, Liability [Abstract]
Beginning Balance	740	695	840	750
Revenue recognized that was included in the deferred revenue balance at the beginning of the period	(347)	(344)	(781)	(687)
Increases due to amounts billable excluding amounts recognized as revenue during the period	273	290	607	576
Increases due to RDC acquisition during the period			20
Amount included in liabilities reclassified as held for sale				(3)
Effect of exchange rate changes	19	(14)	(1)	(9)
Total changes in deferred revenue	(55)	(68)	(155)	(123)
Ending Balance	685	627	685	627
Deferred revenue - current	681	622	681	622
Deferred revenue - noncurrent	$ 4	$ 5	$ 4	$ 5

Revenues - Expected Recognition

Revenues - Expected Recognition Period for Remaining Performance Obligations (Detail) $ in Millions	Sep. 30, 2020USD ($)
MIS
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 136
MIS | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	20.00%
Revenue, remaining performance obligation, period	1 year
MIS | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	50.00%
Revenue, remaining performance obligation, period	4 years
MA
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 1,800
MA | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	60.00%
Revenue, remaining performance obligation, period	1 year
MA | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	25.00%
Revenue, remaining performance obligation, period	1 year

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-Based Compensation Cost and Associated Tax Benefit (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Payment Arrangement, Noncash Expense [Abstract]
Stock-based compensation cost	$ 38	$ 33	$ 110	$ 103
Tax benefit	$ 8	$ 7	$ 22	$ 22

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) $ / shares in Units, shares in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock options, granted (in shares) | shares	0.1
Employee stock options, weighted average grant date fair value (in usd per share) | $ / shares	$ 60.66
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Other than options, shares granted (in shares) | shares	0.5
Other than options, weighted average grant date fair value (in usd per share) | $ / shares	$ 278.92
Award vesting period (in years)	4 years
Unrecognized compensation expense | $	$ 192
Weighted average period to recognize expense	2 years 6 months
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	4 years
Unrecognized compensation expense | $	$ 8
Weighted average period to recognize expense	2 years 4 months 24 days
Performance Based Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Other than options, shares granted (in shares) | shares	0.1
Other than options, weighted average grant date fair value (in usd per share) | $ / shares	$ 273.81
Award vesting period (in years)	3 years
Unrecognized compensation expense | $	$ 34
Weighted average period to recognize expense	2 years

Stock-Based Compensation - Weig

Stock-Based Compensation - Weighted Average Assumptions used in Determining Fair Value for Options Granted (Detail)	9 Months Ended
	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected dividend yield	0.80%
Expected stock volatility	22.52%
Risk-free interest rate	1.43%
Expected holding period	5 years 8 months 12 days

Stock-Based Compensation - St_2

Stock-Based Compensation - Stock Option Exercises and Restricted Stock Vesting (Detail) - USD ($) shares in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Proceeds from stock option exercises	$ 32	$ 29
Aggregate intrinsic value	102	99
Tax benefit realized upon exercise	$ 24	$ 24
Number of shares exercised (shares)	0.5	0.7
Restricted Stock
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Fair value of shares vested	$ 195	$ 153
Tax benefit realized upon vesting	$ 45	$ 36
Number of shares vested (shares)	0.8	0.8
Performance Based Restricted Stock
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Fair value of shares vested	$ 70	$ 48
Tax benefit realized upon vesting	$ 17	$ 12
Number of shares vested (shares)	0.3	0.3

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Contingency [Line Items]
Effective tax rate (percent)	22.00%	25.30%	20.00%	21.40%
Excess tax benefits from stock compensation			$ 52
Decrease to tax positions			43
Overall increase (decrease) in unrecognized tax benefits (UTPs)	$ 17		(6)
Net of Federal Tax
Income Tax Contingency [Line Items]
Overall increase (decrease) in unrecognized tax benefits (UTPs)	$ 16		$ (7)

Income Taxes - Income Taxes Pai

Income Taxes - Income Taxes Paid (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income taxes paid	$ 374	$ 303

Weighted Average Shares Outst_3

Weighted Average Shares Outstanding - Reconciliation of Basic to Diluted Shares Outstanding (Detail) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Basic (in shares)	187.8	189	187.6	189.6
Dilutive effect of shares issuable under stock-based compensation plans (in shares)	1.5	2.1	1.7	2.2
Diluted (in shares)	189.3	191.1	189.3	191.8
Anti-dilutive options to purchase common shares and restricted stock as well as contingently issuable restricted stock which are excluded from the table above (in shares)	0.3	0.2	0.3	0.3

Accelerated Share Repurchase _2

Accelerated Share Repurchase Program - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions	Apr. 26, 2019	Feb. 20, 2019	Apr. 26, 2019
Accelerated Share Repurchases [Line Items]
Accelerated share repurchases, final price paid per share (in usd per share)			$ 180.33
Accelerated Share Repurchases
Accelerated Share Repurchases [Line Items]
Treasury shares repurchased (in shares)			2.8
February 20, 2019
Accelerated Share Repurchases [Line Items]
Accelerated share repurchase payment		$ 500,000,000
February 20, 2019 | Accelerated Share Repurchases
Accelerated Share Repurchases [Line Items]
Treasury shares repurchased (in shares)		2.2
April 26, 2019 | Accelerated Share Repurchases
Accelerated Share Repurchases [Line Items]
Treasury shares repurchased (in shares)	0.6

Cash Equivalents and Investme_3

Cash Equivalents and Investments (Detail) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Cash and Cash Equivalents [Line Items]
Fair Value	$ 50	$ 3
Cash and cash equivalents	2,492	1,832
Short-term investments	96	98
Certificates of deposit and money market deposit accounts
Cash and Cash Equivalents [Line Items]
Cost	1,387	971
Gains/(Losses)	0	0
Fair Value	1,387	971
Cash and cash equivalents	1,284	866
Short-term investments	96	95
Other assets	7	10
Mutual funds
Cash and Cash Equivalents [Line Items]
Cost	47	3
Gains/(Losses)	3	0
Fair Value	50	3
Cash and cash equivalents	0	0
Short-term investments	0	3
Other assets	$ 50	$ 0

Cash Equivalents and Investme_4

Cash Equivalents and Investments (Footnote) (Detail) - Certificates of deposit and money market deposit accounts	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Short-term Investments | Minimum
Cash and Cash Equivalents [Line Items]
Securities maturity period	1 month	1 month
Short-term Investments | Maximum
Cash and Cash Equivalents [Line Items]
Securities maturity period	12 months	12 months
Other assets | Minimum
Cash and Cash Equivalents [Line Items]
Securities maturity period	13 months	13 months
Other assets | Maximum
Cash and Cash Equivalents [Line Items]
Securities maturity period	22 months	18 months
Cash and Cash Equivalents | Maximum
Cash and Cash Equivalents [Line Items]
Securities maturity period	90 days

Cash Equivalents and Investme_5

Cash Equivalents and Investments (Narrative) (Detail) $ in Millions	Sep. 30, 2020USD ($)
Cash and Cash Equivalents [Abstract]
Cash surrender value of life insurance	$ 14

Acquisitions and Other Strate_3

Acquisitions and Other Strategic Initiatives - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2020	Mar. 31, 2020	Feb. 13, 2020
Regulatory Data Corporation
Business Acquisition [Line Items]
Business acquisition interests acquired			100.00%
Acquired cash included in current assets			$ 6
Accounts receivable gross included in current assets			$ 14
Vigeo Eiris
Business Acquisition [Line Items]
Business acquisition interests acquired	99.80%	69.20%

Acquisitions and Other Strate_4

Acquisitions and Other Strategic Initiatives - Total Consideration Relating to Acquisition (Details) - Regulatory Data Corporation $ in Millions	Feb. 13, 2020USD ($)
Business Acquisition [Line Items]
Cash paid at closing	$ 700
Additional consideration to be paid to sellers in 2020	2
Total consideration	$ 702

Acquisitions and Other Strate_5

Acquisitions and Other Strategic Initiatives - Purchase Price Allocation (Details) - USD ($) $ in Millions	Feb. 13, 2020	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill		$ 4,282	$ 3,722	$ 3,781
Regulatory Data Corporation
Business Acquisition [Line Items]
Current assets	$ 24
Total intangible assets	280
Goodwill	494
Other assets	2
Accounts payable and accrued liabilities	(5)
Deferred revenue	(20)
Deferred tax liabilities	(71)
Other liabilities	(2)
Total liabilities	(98)
Net assets acquired	$ 702
Acquired finite-lived intangible asset, useful life	19 years
Regulatory Data Corporation | Customer relationships
Business Acquisition [Line Items]
Total intangible assets	$ 174
Acquired finite-lived intangible asset, useful life	25 years
Regulatory Data Corporation | Database
Business Acquisition [Line Items]
Total intangible assets	$ 86
Acquired finite-lived intangible asset, useful life	10 years
Regulatory Data Corporation | Product technology
Business Acquisition [Line Items]
Total intangible assets	$ 17
Acquired finite-lived intangible asset, useful life	4 years
Regulatory Data Corporation | Trade names
Business Acquisition [Line Items]
Total intangible assets	$ 3
Acquired finite-lived intangible asset, useful life	3 years

Derivative Instruments And He_3

Derivative Instruments And Hedging Activities - Schedule of Interest Rate Swap (Details) - Fair Value Hedging - Interest Rate Swap - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Derivative [Line Items]
Notional Amount	$ 1,380	$ 1,080
2012 Senior Notes due 2022
Derivative [Line Items]
Nature of Swap	Pay Floating/Receive Fixed
Notional Amount	$ 330	330
Floating Interest Rate	3-month USD LIBOR
2017 Senior Notes due 2021
Derivative [Line Items]
Nature of Swap	Pay Floating/Receive Fixed
Notional Amount	$ 0	500
Floating Interest Rate	3-month USD LIBOR
2017 Senior Notes due 2023
Derivative [Line Items]
Nature of Swap	Pay Floating/Receive Fixed
Notional Amount	$ 250	250
Floating Interest Rate	3-month USD LIBOR
2017 Senior Notes due 2028
Derivative [Line Items]
Nature of Swap	Pay Floating/Receive Fixed
Notional Amount	$ 500	0
Floating Interest Rate	3-month USD LIBOR
2020 Senior Notes due 2025
Derivative [Line Items]
Nature of Swap	Pay Floating/Receive Fixed
Notional Amount	$ 300	$ 0
Floating Interest Rate	6-month USD LIBOR

Derivative Instruments And He_4

Derivative Instruments And Hedging Activities - Summary of Net Gain (Loss) on Interest Rate Swaps Designated in Fair Value Hedge (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Interest expense, net	$ (53)	$ (46)	$ (153)	$ (149)
Designated as Hedging Instrument | Interest Rate Swap | Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Fair value changes on interest rate swaps	(7)	2	53	33
Fair value changes on hedged debt	7	(2)	(53)	(33)
Designated as Hedging Instrument | Interest Rate Swap | Interest Expense | Fair Value hedge Net Interest Settlements and Accruals
Derivative Instruments, Gain (Loss) [Line Items]
Net interest settlements and accruals on interest rate swaps	$ 6	$ 1	$ 14	$ 1

Derivative Instruments And He_5

Derivative Instruments And Hedging Activities - Additional Information (Detail)	1 Months Ended	9 Months Ended
	Jan. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2020EUR (€)	Apr. 30, 2020USD ($)	Dec. 31, 2019USD ($)
Derivative [Line Items]
Cumulative loss		$ 504,000,000			$ 439,000,000
Designated as Hedging Instrument
Derivative [Line Items]
Cumulative loss		122,000,000			(54,000,000)
Net Investment Hedging
Derivative [Line Items]
Cumulative loss		73,000,000			(54,000,000)
Net Investment Hedging | Cross-currency swap
Derivative [Line Items]
Cumulative loss		40,000,000			(41,000,000)
2021 | Designated as Hedging Instrument | Cross-currency swap
Derivative [Line Items]
Notional Amount | €			€ 265,000,000
2022 | Designated as Hedging Instrument | Cross-currency swap
Derivative [Line Items]
Notional Amount | €			438,000,000
2023 | Designated as Hedging Instrument | Cross-currency swap
Derivative [Line Items]
Notional Amount | €			442,000,000
2024 | Designated as Hedging Instrument | Cross-currency swap
Derivative [Line Items]
Notional Amount | €			443,000,000
2026 | Designated as Hedging Instrument | Cross-currency swap
Derivative [Line Items]
Notional Amount | €			€ 450,000,000
Cash Flow Hedging
Derivative [Line Items]
Cumulative loss		49,000,000			0
Cash Flow Hedging | Cross-currency swap
Derivative [Line Items]
Cumulative loss		(2,000,000)			(2,000,000)
Cash Flow Hedging | Forward Contracts
Derivative [Line Items]
Cumulative loss				$ 68,000,000
Cash Flow Hedging | Interest rate contract
Derivative [Line Items]
Cumulative loss		$ 51,000,000			$ 2,000,000
Cash Flow Hedging | Designated as Hedging Instrument | Forward Contracts
Derivative [Line Items]
Notional Amount	$ 300,000,000
Forward interest rate	2.0103%
Debt instrument, term	30 years
1.75% 2015 Senior Notes, due 2027
Derivative [Line Items]
Notes payable, interest rate		1.75%	1.75%		1.75%
1.75% 2015 Senior Notes, due 2027 | Net Investment Hedging | Designated as Hedging Instrument | Cross-currency swap
Derivative [Line Items]
Notional Amount | €			€ 500,000,000
2019 Senior Notes Due 2030 | Net Investment Hedging | Designated as Hedging Instrument | Cross-currency swap
Derivative [Line Items]
Notional Amount | €			€ 750,000,000
2.75% 2017 Senior Notes, due 2021
Derivative [Line Items]
Notes payable, interest rate		2.75%	2.75%		2.75%
2.75% 2017 Senior Notes, due 2021 | Net Investment Hedging | Designated as Hedging Instrument | Cross-currency swap
Derivative [Line Items]
Notional Amount | €			€ 422,500,000
3.25% 2020 Senior Notes, due 2050
Derivative [Line Items]
Debt instrument, term		30 years
Notes payable, interest rate		3.25%	3.25%

Derivative Instruments And He_6

Derivative Instruments And Hedging Activities - Summary of Notional Amounts of Outstanding Cross Currency Swap (Detail) - Cross-currency swap - Net Investment Hedging € in Millions, $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2020EUR (€)	Dec. 31, 2019EUR (€)
3.96%
Derivative [Line Items]
Nature of Swap	Pay Fixed/Receive Fixed	Pay Fixed/Receive Fixed
3-month U.S. LIBOR
Derivative [Line Items]
Nature of Swap	Pay Floating/Receive Floating	Pay Floating/Receive Floating
Currency Paid
Derivative [Line Items]
Notional Amount | €			€ 2,038	€ 2,010
Currency Paid | 1.43%
Derivative [Line Items]
Notional Amount | €			€ 1,079	€ 1,079
Weighted Average Fixed Interest Rate	1.43%	1.43%	1.43%	1.43%
Currency Paid | 3-month EURIBOR
Derivative [Line Items]
Notional Amount | €			€ 959	€ 931
Weighted Average Floating Interest Rate	Based on 3-month EURIBOR	Based on 3-month EURIBOR
Currency Received
Derivative [Line Items]
Notional Amount | $	$ 2,300	$ 2,300
Currency Received | 3.96%
Derivative [Line Items]
Notional Amount | $	$ 1,220	$ 1,220
Weighted Average Fixed Interest Rate	3.96%	3.96%	3.96%	3.96%
Currency Received | 3-month U.S. LIBOR
Derivative [Line Items]
Notional Amount | $	$ 1,080	$ 1,080
Weighted Average Floating Interest Rate	Based on 3-month USD LIBOR	Based on 3-month USD LIBOR

Derivative Instruments And He_7

Derivative Instruments And Hedging Activities - Summary of Notional Amounts of Outstanding Forward Contracts Designated as a Net Investment Hedge (Detail) - Sep. 30, 2020 € in Millions, $ in Millions	USD ($)	EUR (€)
Net Investment Hedging | Designated as Hedging Instrument | Contract to sell EUR for USD
Derivative [Line Items]
Notional Amount	$ 292	€ 247

Derivative Instruments And He_8

Derivative Instruments And Hedging Activities - Gains (Losses) Recognized in AOCI and Reclassified from AOCI on Derivatives (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Cash Flow Hedging Relationships, Amount of Gain/(Loss) Recognized in AOCI on Derivative, net of Tax			$ (50)	$ 0
Total, Amount of Gain/(Loss) Recognized in AOCI on Derivative, net of Tax	$ (144)	$ 102	(178)	97
Net investment hedges - reclassification of gains included in net income - Net of Tax	0	1	0	1
Cash Flow Hedging Relationships, Amount of Gain/(Loss) Reclassified from AOCI into Income, net of Tax			(1)	0
Total, Amount of Gain/(Loss) Reclassified from AOCI into Income, net of Tax	(1)	1	(2)	1
Gain/(Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	10	15	40	37
Net Investment Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Net Investment Hedging Relationships, Amount of Gain/(Loss) Recognized in AOCI on Derivative, net of Tax	(143)	102	(127)	97
Net investment hedges - reclassification of gains included in net income - Net of Tax	0	1	0	1
Gain/(Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	10	15	40	37
Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Cash Flow Hedging Relationships, Amount of Gain/(Loss) Recognized in AOCI on Derivative, net of Tax	(1)	0	(51)	0
Cash Flow Hedging Relationships, Amount of Gain/(Loss) Reclassified from AOCI into Income, net of Tax	(1)	0	(2)	0
Gain/(Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	0	0	0	0
FX forwards | Net Investment Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Net Investment Hedging Relationships, Amount of Gain/(Loss) Recognized in AOCI on Derivative, net of Tax	1	5	1	5
Net investment hedges - reclassification of gains included in net income - Net of Tax	0	1	0	1
Gain/(Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	0	0	0	0
Cross-currency swap | Net Investment Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Net Investment Hedging Relationships, Amount of Gain/(Loss) Recognized in AOCI on Derivative, net of Tax	(98)	79	(81)	75
Net investment hedges - reclassification of gains included in net income - Net of Tax	0	0	0	0
Gain/(Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	10	15	40	37
Long-term debt | Net Investment Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Net Investment Hedging Relationships, Amount of Gain/(Loss) Recognized in AOCI on Derivative, net of Tax	(46)	18	(47)	17
Net investment hedges - reclassification of gains included in net income - Net of Tax	0	0	0	0
Gain/(Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	0	0	0	0
Interest rate contract | Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Cash Flow Hedging Relationships, Amount of Gain/(Loss) Recognized in AOCI on Derivative, net of Tax	(1)	0	(51)	0
Cash Flow Hedging Relationships, Amount of Gain/(Loss) Reclassified from AOCI into Income, net of Tax	(1)	0	(2)	0
Gain/(Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	$ 0	$ 0	$ 0	$ 0

Derivative Instruments And He_9

Derivative Instruments And Hedging Activities - Cumulative Amount of Unrecognized Hedge Losses Recorded in AOCI (Detail) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Derivative [Line Items]
Accumulated other comprehensive loss	$ (504)	$ (439)
Designated as Hedging Instrument
Derivative [Line Items]
Accumulated other comprehensive loss	(122)	54
Net Investment Hedging
Derivative [Line Items]
Accumulated other comprehensive loss	(73)	54
Net Investment Hedging | Cross-currency swap
Derivative [Line Items]
Accumulated other comprehensive loss	(40)	41
Net Investment Hedging | FX forwards
Derivative [Line Items]
Accumulated other comprehensive loss	27	26
Net Investment Hedging | Long-term debt
Derivative [Line Items]
Accumulated other comprehensive loss	(60)	(13)
Cash Flow Hedging
Derivative [Line Items]
Accumulated other comprehensive loss	(49)	0
Cash Flow Hedging | Cross-currency swap
Derivative [Line Items]
Accumulated other comprehensive loss	2	2
Cash Flow Hedging | Interest rate contract
Derivative [Line Items]
Accumulated other comprehensive loss	$ (51)	$ (2)

Derivative Instruments And H_10

Derivative Instruments And Hedging Activities - Summary of Notional Amounts of Outstanding Foreign Exchange Forwards (Detail) - Not Designated as Accounting Hedges ₽ in Millions, € in Millions, ₨ in Millions, ¥ in Millions, £ in Millions, $ in Millions, $ in Millions, $ in Millions

Sep. 30, 2020USD ($)

Sep. 30, 2020EUR (€)

Sep. 30, 2020GBP (£)

Sep. 30, 2020JPY (¥)

Sep. 30, 2020CAD ($)

Sep. 30, 2020SGD ($)

Sep. 30, 2020RUB (₽)

Sep. 30, 2020INR (₨)

Dec. 31, 2019USD ($)

Dec. 31, 2019EUR (€)

Dec. 31, 2019GBP (£)

Dec. 31, 2019JPY (¥)

Dec. 31, 2019CAD ($)

Dec. 31, 2019SGD ($)

Dec. 31, 2019RUB (₽)

Dec. 31, 2019INR (₨)

Contracts to sell USD for GBP

Derivative [Line Items]

Notional Amount

$ 320

£ 254

$ 235

£ 178

Contracts to sell USD for Japanese Yen

Derivative [Line Items]

Notional Amount

10

¥ 1,000

29

¥ 3,200

Contracts to sell USD for Canadian dollars

Derivative [Line Items]

Notional Amount

105

$ 140

83

$ 110

Contracts to sell USD for Singapore dollars

Derivative [Line Items]

Notional Amount

58

$ 79

41

$ 56

Contracts to sell USD for Euros

Derivative [Line Items]

Notional Amount

530

€ 452

421

€ 378

Contracts to sell Euros for GBP

Derivative [Line Items]

Notional Amount

€ 53

£ 48

€ 25

£ 21

Contracts to sell USD for Russian Ruble

Derivative [Line Items]

Notional Amount

9

₽ 670

0

₽ 0

Contracts to sell USD for Indian Rupee

Derivative [Line Items]

Notional Amount

$ 18

₨ 1,350

$ 0

₨ 0

Derivative Instruments And H_11

Derivative Instruments And Hedging Activities - Summary of Net Gain (Loss) on Foreign Exchange Forwards Not Designated as Hedging Instruments (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Other non-operating income, net
Derivative Instruments, Gain (Loss) [Line Items]
Foreign exchange forwards amount of gain (loss) recognized in income	$ 36	$ (26)	$ 1	$ (35)

Derivative Instruments And H_12

Derivative Instruments And Hedging Activities - Fair Value of Derivative Instruments (Detail) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Assets	$ 79	$ 92
Liabilities	1,534	1,403
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets	74	83
Liabilities	64	0
Designated as Hedging Instrument | Long-term debt | Net Investment Hedging
Derivatives, Fair Value [Line Items]
Liabilities	1,465	1,403
Designated as Hedging Instrument | Cross-currency swap | Other assets | Net Investment Hedging
Derivatives, Fair Value [Line Items]
Assets	9	56
Designated as Hedging Instrument | Cross-currency swap | Other liabilities | Net Investment Hedging
Derivatives, Fair Value [Line Items]
Liabilities	63	0
Designated as Hedging Instrument | Interest Rate Swap | Other assets | Fair Value Hedging
Derivatives, Fair Value [Line Items]
Assets	63	27
Designated as Hedging Instrument | Interest Rate Swap | Other liabilities | Fair Value Hedging
Derivatives, Fair Value [Line Items]
Liabilities	1	0
Designated as Hedging Instrument | FX forwards | Other current assets | Net Investment Hedging
Derivatives, Fair Value [Line Items]
Assets	2	0
Not Designated as Accounting Hedges | FX forwards | Other current assets
Derivatives, Fair Value [Line Items]
Assets	5	9
Not Designated as Accounting Hedges | FX forwards | Accounts payable and accrued liabilities
Derivatives, Fair Value [Line Items]
Liabilities	$ 5	$ 0

Goodwill And Other Acquired I_3

Goodwill And Other Acquired Intangible Assets - Activity in Goodwill (Detail) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Goodwill [Roll Forward]
Beginning balance, goodwill gross	$ 3,734	$ 3,793
Beginning balance, Accumulated impairment charge	(12)	(12)
Beginning balance, goodwill net	3,722	3,781
Additions/adjustments	495	114
Foreign currency translation adjustments	65	(10)
Divestiture of MAKS		(163)
Ending balance, goodwill gross	4,294	3,734
Ending balance, Accumulated impairment charge	(12)	(12)
Ending balance, goodwill net	4,282	3,722
MIS
Goodwill [Roll Forward]
Beginning balance, goodwill gross	315	258
Beginning balance, Accumulated impairment charge	0	0
Beginning balance, goodwill net	315	258
Additions/adjustments	(2)	53
Foreign currency translation adjustments	(11)	4
Divestiture of MAKS		0
Ending balance, goodwill gross	302	315
Ending balance, Accumulated impairment charge	0	0
Ending balance, goodwill net	302	315
MA
Goodwill [Roll Forward]
Beginning balance, goodwill gross	3,419	3,535
Beginning balance, Accumulated impairment charge	(12)	(12)
Beginning balance, goodwill net	3,407	3,523
Additions/adjustments	497	61
Foreign currency translation adjustments	76	(14)
Divestiture of MAKS		(163)
Ending balance, goodwill gross	3,992	3,419
Ending balance, Accumulated impairment charge	(12)	(12)
Ending balance, goodwill net	$ 3,980	$ 3,407

Goodwill And Other Acquired I_4

Goodwill And Other Acquired Intangible Assets - Acquired Intangible Assets and Related Amortization (Detail) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, net	$ 1,717	$ 1,498
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, gross	1,524	1,325
Accumulated amortization	(287)	(235)
Acquired intangible assets, net	1,237	1,090
Trade secrets
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, gross	30	30
Accumulated amortization	(29)	(29)
Acquired intangible assets, net	1	1
Software/product technology
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, gross	378	372
Accumulated amortization	(152)	(131)
Acquired intangible assets, net	226	241
Trade names
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, gross	152	150
Accumulated amortization	(35)	(30)
Acquired intangible assets, net	117	120
Other
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, gross	182	80
Accumulated amortization	(46)	(34)
Acquired intangible assets, net	$ 136	$ 46

Goodwill And Other Acquired I_5

Goodwill And Other Acquired Intangible Assets - Amortization Expense Relating to Acquired Intangible Assets (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 31	$ 24	$ 90	$ 77

Goodwill And Other Acquired I_6

Goodwill And Other Acquired Intangible Assets - Estimated Future Amortization Expense for Acquired Intangible Assets Subject to Amortization (Detail) $ in Millions	Sep. 30, 2020USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2020 (After September 30,)	$ 31
2021	121
2022	120
2023	116
2024	108
Thereafter	1,221
Total estimated future amortization	$ 1,717

Goodwill And Other Acquired I_7

Goodwill And Other Acquired Intangible Assets - Additional Information (Details) $ in Thousands, ₨ in Millions	Sep. 22, 2020INR (₨)	Sep. 22, 2020USD ($)	Dec. 26, 2019INR (₨)	Dec. 26, 2019USD ($)
Indian Credit Ratings Agency
Loss Contingencies [Line Items]
Penalty in period	₨ 10	$ 140	₨ 2.5	$ 35

Restructuring - Additional Info

Restructuring - Additional Information (Detail) - USD ($) $ in Millions	Jul. 29, 2020	Oct. 26, 2018	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2020	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring charges			$ 23	$ (1)		$ 20	$ 58
2020 Restructuring Program
Restructuring Cost and Reserve [Line Items]
Restructuring charges			$ 23	$ 0		$ 23	$ 0
2020 Restructuring Program | Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost	$ 25
2020 Restructuring Program | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost	35
2018 Restructuring Program | Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost		$ 105
2018 Restructuring Program | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost		110
Real Estate | 2018 Restructuring Program
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost		50
Employee Severance | 2018 Restructuring Program
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost		60
Estimated Annual Savings | 2020 Restructuring Program | Minimum
Restructuring Cost and Reserve [Line Items]
Effect on future earnings, amount	5
Estimated Annual Savings | 2020 Restructuring Program | Maximum
Restructuring Cost and Reserve [Line Items]
Effect on future earnings, amount	$ 6
Estimated Annual Savings | 2018 Restructuring Program
Restructuring Cost and Reserve [Line Items]
Effect on future earnings, amount		$ 60
Forecast | 2020 Restructuring Program | Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring charges					$ 25
Forecast | 2020 Restructuring Program | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring charges					$ 30
Forecast | Employee Severance | 2018 Restructuring Program
Restructuring Cost and Reserve [Line Items]
Payments for restructuring								$ 60

Restructuring - Restructuring E

Restructuring - Restructuring Expenses Included in Consolidated Statements of Operations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring	$ 23	$ (1)	$ 20	$ 58
Operating lease, right-of-use asset immediately after impairment	410		410		$ 456
2018 Restructuring Program
Restructuring Cost and Reserve [Line Items]
Restructuring	0	(1)	(3)	58
2020 Restructuring Program
Restructuring Cost and Reserve [Line Items]
Restructuring	23	$ 0	23	$ 0
Level 3 | 2020 Restructuring Program
Restructuring Cost and Reserve [Line Items]
Operating lease, right-of-use asset immediately after impairment	$ 10		$ 10

Fair Value - Financial Instrume

Fair Value - Financial Instruments Carried at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Assets:
Derivatives	$ 79	$ 92
Mutual funds	50	3
Total	129	95
Liabilities:
Derivatives	69
Total	69
Level 1
Assets:
Derivatives	0	0
Mutual funds	50	3
Total	50	3
Liabilities:
Derivatives	0
Total	0
Level 2
Assets:
Derivatives	79	92
Mutual funds	0	0
Total	79	$ 92
Liabilities:
Derivatives	69
Total	$ 69

Other Balance Sheet and State_3

Other Balance Sheet and Statement of Operations Information - Additional Details Related to Certain Balance Sheet Captions (Detail) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Other current assets:
Prepaid taxes	$ 121	$ 79
Prepaid expenses	77	71
Capitalized costs to obtain and fulfill sales contracts	80	91
Other	55	89
Total other current assets	333	330
Other assets:
Investments in non-consolidated affiliates	123	117
Deposits for real-estate leases	16	13
Indemnification assets related to acquisitions	16	16
Mutual funds and fixed deposits	54	10
Company owned life insurance (at contract value)	14	0
Costs to obtain sales contracts	118	119
Cross currency and interest rate swaps	72	83
Other	55	31
Total other assets	468	389
Accounts payable and accrued liabilities:
Salaries and benefits	131	152
Incentive compensation	160	208
Customer credits, advanced payments and advanced billings	44	28
Dividends	7	7
Professional service fees	51	43
Interest accrued on debt	43	63
Accounts payable	26	38
Income taxes	97	73
Pension and other retirement employee benefits	7	7
Accrued royalties	13	25
Foreign exchange forwards on certain assets and liabilities	5	0
Restructuring liability	4	21
Other	124	108
Total accounts payable and accrued liabilities	712	773
Other liabilities:
Pension and other retirement employee benefits	214	299
Interest accrued on UTPs	107	82
MAKS indemnification provisions	33	43
Income tax liability - non-current portion	51	51
Cross currency and interest rate swaps	64	0
Restructuring liability	2	3
Other	27	26
Total other liabilities	$ 498	$ 504

Other Balance Sheet and State_4

Other Balance Sheet and Statement of Operations Information - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Other Balance Sheet And Statement Of Operations Information [Abstract]
Loss pursuant to the divestiture of MAKS	$ 0	$ 2	$ 9	$ 11

Other Balance Sheet and State_5

Other Balance Sheet and Statement of Operations Information - Other Non-Operating Interest (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Other Balance Sheet And Statement Of Operations Information [Abstract]
FX gain (loss)	$ 2	$ 1	$ 7	$ (15)
Net periodic pension costs - other components	3	4	10	13
Income from investments in non-consolidated affiliates	4	4	4	11
Other	1	1	17	3
Total	$ 10	$ 10	$ 38	$ 12

Comprehensive Income And Accu_3

Comprehensive Income And Accumulated Other Comprehensive Loss - Reclassification out of AOCI (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Other non-operating income, net	$ 10	$ 10	$ 38	$ 12
Interest expense, net	(53)	(46)	(153)	(149)
Operating expense	364	350	1,066	1,032
Selling, general and administrative	271	292	879	848
Total before income taxes	599	513	1,829	1,357
Provision for income taxes	(132)	(130)	(366)	(290)
Net income attributable to Moody's	467	380	1,464	1,062
Reclassification out of Accumulated Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Net income attributable to Moody's	(2)	0	(5)	(1)
Losses on cash flow hedges | Reclassification out of Accumulated Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Total before income taxes		0		0
Provision for income taxes	0	0	0	0
Net income attributable to Moody's	0	0	(1)	0
Losses on cash flow hedges | Reclassification out of Accumulated Other Comprehensive Income | Cross-currency swap
Derivative Instruments, Gain (Loss) [Line Items]
Other non-operating income, net		0		0
Losses on cash flow hedges | Reclassification out of Accumulated Other Comprehensive Income | Interest rate contract
Derivative Instruments, Gain (Loss) [Line Items]
Other non-operating income, net	0		(1)
Interest expense, net		0		0
Net Investment Hedges | Reclassification out of Accumulated Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Provision for income taxes		0		0
Net income attributable to Moody's		1		1
Net Investment Hedges | Reclassification out of Accumulated Other Comprehensive Income | FX forwards
Derivative Instruments, Gain (Loss) [Line Items]
Other non-operating income, net		1		1
Total pension and other retirement benefits | Reclassification out of Accumulated Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Total before income taxes	(2)	(1)	(5)	(3)
Provision for income taxes	0	0	1	1
Net income attributable to Moody's	(2)	(1)	(4)	(2)
Amortization of actuarial losses and prior service costs included in net income | Reclassification out of Accumulated Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Operating expense	(1)	(1)	(3)	(2)
Selling, general and administrative	$ (1)	$ 0	$ (2)	$ (1)

Comprehensive Income And Accu_4

Comprehensive Income And Accumulated Other Comprehensive Loss - Changes in Components of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accounting Standards Update [Extensible List]					us-gaap:AccountingStandardsUpdate201613Member	us-gaap:AccountingStandardsUpdate201802Member
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			$ 612
Ending balance	$ 1,497		1,497		$ 612
Pension and Other Retirement Benefits
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(84)	$ (70)	(92)	$ (53)	(53)
Other comprehensive income/(loss) before reclassifications	(7)	0	(1)	(1)
Amounts reclassified from AOCL	2	1	4	2
Other comprehensive income/(loss)	(5)	1	3	(16)
Ending balance	(89)	(69)	(89)	(69)	(92)	$ (53)
Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(49)	0	0	0	0
Other comprehensive income/(loss) before reclassifications	0	0	(50)	0
Amounts reclassified from AOCL	0	0	1	0
Other comprehensive income/(loss)	0	0	(49)	0
Ending balance	(49)	0	(49)	0	0	0
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(479)	(401)	(401)	(406)	(406)
Other comprehensive income/(loss) before reclassifications	186	(193)	108	(188)
Amounts reclassified from AOCL	0	0	0	0
Other comprehensive income/(loss)	186	(193)	108	(188)
Ending balance	(293)	(594)	(293)	(594)	(401)	(406)
Net Investment Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	70	25	54	33	33
Other comprehensive income/(loss) before reclassifications	(143)	102	(127)	97
Amounts reclassified from AOCL	0	(1)	0	(1)
Other comprehensive income/(loss)	(143)	101	(127)	93
Ending balance	(73)	126	(73)	126	54	33
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(542)	(446)	(439)	(426)	(426)
Other comprehensive income/(loss) before reclassifications	36	(91)	(70)	(92)
Amounts reclassified from AOCL	2	0	5	1
Other comprehensive income/(loss)	38	(91)	(65)	(111)
Ending balance	$ (504)	$ (537)	$ (504)	(537)	(439)	(426)
Cumulative Effect, Period of Adoption, Adjustment | Pension and Other Retirement Benefits
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance				(17)	(17)
Ending balance						(17)
Cumulative Effect, Period of Adoption, Adjustment | Net Investment Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance				(3)	(3)
Ending balance						(3)
Cumulative Effect, Period of Adoption, Adjustment | Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance				$ (20)	$ (20)
Ending balance						$ (20)

Pension and Other Retirement _3

Pension and Other Retirement Benefits - Components of Net Periodic Benefit Expense Related to Post-Retirement Plans (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Components of net periodic expense
Interest cost	$ 4	$ 6	$ 14	$ 17
Pension Plans
Components of net periodic expense
Service cost	5	4	13	12
Interest cost	4	5	13	15
Expected return on plan assets	(5)	(5)	(15)	(15)
Amortization of net actuarial loss from earlier periods	2	1	5	3
Net periodic expense	6	5	16	15
Other Retirement Plans
Components of net periodic expense
Service cost	0	1	2	2
Interest cost	1	0	1	1
Expected return on plan assets	0	0	0	0
Amortization of net actuarial loss from earlier periods	0	0	0	0
Net periodic expense	$ 1	$ 1	$ 3	$ 3

Pension and Other Retirement _4

Pension and Other Retirement Benefits - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Other Retirement Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contributions	$ 1
Funded Plan | Pension Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contributions	99
Unfunded Plan | Pension Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contributions	8
Estimated additional payments in 2020	$ 1

Indebtedness - Summary of Total

Indebtedness - Summary of Total Indebtedness (Detail) - USD ($) $ in Millions	6 Months Ended	9 Months Ended
	Jun. 30, 2020	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Principal Amount		$ 6,365	$ 5,603
Fair Value of Interest Rate Swap		62	27
Unamortized (Discount) Premium		(24)	(17)
Unamortized Debt Issuance Costs		(40)	(32)
Long term debt		$ 6,363	$ 5,581
4.50% 2012 Senior Notes, due 2022
Debt Instrument [Line Items]
Notes payable, interest rate		4.50%	4.50%
Principal Amount		$ 500	$ 500
Fair Value of Interest Rate Swap		16	9
Unamortized (Discount) Premium		(1)	(1)
Unamortized Debt Issuance Costs		(1)	(1)
Long term debt		$ 514	$ 507
4.875% 2013 Senior Notes, due 2024
Debt Instrument [Line Items]
Notes payable, interest rate		4.875%	4.875%
Principal Amount		$ 500	$ 500
Unamortized (Discount) Premium		(1)	(1)
Unamortized Debt Issuance Costs		(1)	(2)
Long term debt		$ 498	$ 497
5.25% 2014 Senior Notes (30-Year), due 2044
Debt Instrument [Line Items]
Notes payable, interest rate		5.25%	5.25%
Debt instrument, term	30 years	30 years
Principal Amount		$ 600	$ 600
Unamortized (Discount) Premium		4	4
Unamortized Debt Issuance Costs		(5)	(5)
Long term debt		$ 599	$ 599
1.75% 2015 Senior Notes, due 2027
Debt Instrument [Line Items]
Notes payable, interest rate		1.75%	1.75%
Principal Amount		$ 586	$ 561
Unamortized (Discount) Premium			0
Unamortized Debt Issuance Costs			(3)
Long term debt			$ 558
2.75% 2017 Senior Notes, due 2021
Debt Instrument [Line Items]
Notes payable, interest rate		2.75%	2.75%
Principal Amount		$ 586	$ 500
Fair Value of Interest Rate Swap			11
Unamortized (Discount) Premium		0	(1)
Unamortized Debt Issuance Costs		(2)	(2)
Long term debt		$ 584	$ 508
2.625% 2017 Senior Notes, due 2023
Debt Instrument [Line Items]
Notes payable, interest rate		2.625%	2.625%
Principal Amount		$ 500	$ 500
Fair Value of Interest Rate Swap		13	7
Unamortized (Discount) Premium		(1)	(1)
Unamortized Debt Issuance Costs		(2)	(2)
Long term debt		$ 510	$ 504
3.25% 2017 Senior Notes, due 2028
Debt Instrument [Line Items]
Notes payable, interest rate		3.25%	3.25%
Principal Amount		$ 500	$ 500
Fair Value of Interest Rate Swap		34
Unamortized (Discount) Premium		(4)	(4)
Unamortized Debt Issuance Costs		(3)	(3)
Long term debt		$ 527	$ 493
3.25% 2018 Senior Notes, due 2021
Debt Instrument [Line Items]
Notes payable, interest rate		3.25%	3.25%
Principal Amount			$ 300
Unamortized (Discount) Premium			0
Unamortized Debt Issuance Costs			(1)
Long term debt			$ 299
4.25% 2018 Senior Notes, due 2029
Debt Instrument [Line Items]
Notes payable, interest rate		4.25%	4.25%
Principal Amount		$ 400	$ 400
Unamortized (Discount) Premium		(2)	(3)
Unamortized Debt Issuance Costs		(3)	(3)
Long term debt		$ 395	$ 394
4.875% 2018 Senior Notes, due 2048
Debt Instrument [Line Items]
Notes payable, interest rate		4.875%	4.875%
Principal Amount		$ 400	$ 400
Unamortized (Discount) Premium		(7)	(7)
Unamortized Debt Issuance Costs		(4)	(4)
Long term debt		$ 389	$ 389
0.950% Senior Notes Due 2030
Debt Instrument [Line Items]
Notes payable, interest rate		0.95%	0.95%
Principal Amount		$ 879	$ 842
Unamortized (Discount) Premium		(3)	(3)
Unamortized Debt Issuance Costs		(6)	(6)
Long term debt		$ 870	$ 833
3.75% 2020 Senior Notes, due 2025
Debt Instrument [Line Items]
Notes payable, interest rate		3.75%
Debt instrument, term		5 years
Principal Amount		$ 700
Fair Value of Interest Rate Swap		(1)
Unamortized (Discount) Premium		(1)
Unamortized Debt Issuance Costs		(5)
Long term debt		$ 693
3.25% 2020 Senior Notes, due 2050
Debt Instrument [Line Items]
Notes payable, interest rate		3.25%
Debt instrument, term		30 years
Principal Amount		$ 300
Unamortized (Discount) Premium		(4)
Unamortized Debt Issuance Costs		(3)
Long term debt		$ 293
2.55% 2020 Senior Notes, due 2060
Debt Instrument [Line Items]
Notes payable, interest rate		2.55%
Debt instrument, term		40 years
Principal Amount		$ 500
Unamortized (Discount) Premium		(4)
Unamortized Debt Issuance Costs		(5)
Long term debt		$ 491

Indebtedness - Additional Infor

Indebtedness - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2020
3.75% 2020 Senior Notes, due 2025
Debt Instrument [Line Items]
Debt instrument, term			5 years
3.25% 2020 Senior Notes, due 2050
Debt Instrument [Line Items]
Debt instrument, term			30 years
2.55% 2020 Senior Notes, due 2060
Debt Instrument [Line Items]
Debt instrument, term			40 years
3.25% 2018 Senior Notes, due 2021
Debt Instrument [Line Items]
Repayments of debt		$ 300
Make-Whole Amount		$ 8
2.75% 2017 Senior Notes, due 2021
Debt Instrument [Line Items]
Repayments of debt	$ 500
Make-Whole Amount	16
Accretion expense	$ 17

Indebtedness - Principal Paymen

Indebtedness - Principal Payments Due on Long-Term Borrowings (Detail) - USD ($) $ in Millions	6 Months Ended	9 Months Ended
	Jun. 30, 2020	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
2020 (After September 30,)		$ 0
2021		0
2022		500
2023		500
2024		500
Thereafter		4,865
Total principal payment		6,365	$ 5,603
4.50% 2012 Senior Notes, due 2022
Debt Instrument [Line Items]
2022		500
Total principal payment		500	500
4.875% 2013 Senior Notes, due 2024
Debt Instrument [Line Items]
2024		500
Total principal payment		500	500
5.25% 2014 Senior Notes (30-Year), due 2044
Debt Instrument [Line Items]
Thereafter		600
Total principal payment		$ 600	600
Debt instrument, term	30 years	30 years
1.75% 2015 Senior Notes, due 2027
Debt Instrument [Line Items]
Thereafter		$ 586
Total principal payment		586	561
2.625% 2017 Senior Notes, due 2023
Debt Instrument [Line Items]
2023		500
Total principal payment		500	500
3.25% 2017 Senior Notes, due 2028
Debt Instrument [Line Items]
Thereafter		500
Total principal payment		500	500
4.25% 2018 Senior Notes, due 2029
Debt Instrument [Line Items]
Thereafter		400
Total principal payment		400	400
4.875% 2018 Senior Notes, due 2048
Debt Instrument [Line Items]
Thereafter		400
Total principal payment		400	400
0.950% Senior Notes Due 2030
Debt Instrument [Line Items]
Thereafter		879
Total principal payment		879	$ 842
3.75% 2020 Senior Notes, due 2025
Debt Instrument [Line Items]
Thereafter		700
Total principal payment		$ 700
Debt instrument, term		5 years
3.25% 2020 Senior Notes, due 2050
Debt Instrument [Line Items]
Thereafter		$ 300
Total principal payment		$ 300
Debt instrument, term		30 years
2.55% 2020 Senior Notes, due 2060
Debt Instrument [Line Items]
Thereafter		$ 500
Total principal payment		$ 500
Debt instrument, term		40 years

Indebtedness - Summary of Compo

Indebtedness - Summary of Components of Interest as Presented in Consolidated Statements of Operations (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Debt Disclosure [Abstract]
Income	$ 2	$ 3	$ 9	$ 12
Expense on borrowings	(42)	(37)	(121)	(125)
UTPs and other tax related liabilities	(9)	(7)	(27)	(20)
Net periodic pension costs - interest component	(4)	(6)	(14)	(17)
Capitalized	0	1	0	1
Total	$ (53)	$ (46)	$ (153)	$ (149)

Indebtedness - Interest Paid (D

Indebtedness - Interest Paid (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Debt Disclosure [Abstract]
Interest paid	$ 119	$ 149

Indebtedness - Fair Value and C

Indebtedness - Fair Value and Carrying Value of Long-Term Debt (Detail) - USD ($) $ in Millions	6 Months Ended	9 Months Ended
	Jun. 30, 2020	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Carrying Amount		$ 6,363	$ 5,581
Estimated Fair Value		7,163	6,078
4.50% 2012 Senior Notes, due 2022
Debt Instrument [Line Items]
Carrying Amount		514	507
Estimated Fair Value		$ 535	$ 531
Notes payable, interest rate		4.50%	4.50%
4.875% 2013 Senior Notes, due 2024
Debt Instrument [Line Items]
Carrying Amount		$ 498	$ 497
Estimated Fair Value		$ 565	$ 551
Notes payable, interest rate		4.875%	4.875%
5.25% 2014 Senior Notes (30-Year), due 2044
Debt Instrument [Line Items]
Carrying Amount		$ 599	$ 599
Estimated Fair Value		$ 822	$ 757
Notes payable, interest rate		5.25%	5.25%
Debt instrument, term	30 years	30 years
1.75% 2015 Senior Notes, due 2027
Debt Instrument [Line Items]
Carrying Amount			$ 558
Estimated Fair Value		$ 643	$ 604
Notes payable, interest rate		1.75%	1.75%
2.75% 2017 Senior Notes, due 2021
Debt Instrument [Line Items]
Carrying Amount		$ 584	$ 508
Estimated Fair Value			$ 507
Notes payable, interest rate		2.75%	2.75%
2.625% 2017 Senior Notes, due 2023
Debt Instrument [Line Items]
Carrying Amount		$ 510	$ 504
Estimated Fair Value		$ 523	$ 507
Notes payable, interest rate		2.625%	2.625%
3.25% 2017 Senior Notes, due 2028
Debt Instrument [Line Items]
Carrying Amount		$ 527	$ 493
Estimated Fair Value		$ 566	$ 523
Notes payable, interest rate		3.25%	3.25%
3.25% 2018 Senior Notes, due 2021
Debt Instrument [Line Items]
Carrying Amount			$ 299
Estimated Fair Value			$ 306
Notes payable, interest rate		3.25%	3.25%
4.25% 2018 Senior Notes, due 2029
Debt Instrument [Line Items]
Carrying Amount		$ 395	$ 394
Estimated Fair Value		$ 479	$ 453
Notes payable, interest rate		4.25%	4.25%
4.875% 2018 Senior Notes, due 2048
Debt Instrument [Line Items]
Carrying Amount		$ 389	$ 389
Estimated Fair Value		$ 540	$ 492
Notes payable, interest rate		4.875%	4.875%
0.950% Senior Notes Due 2030
Debt Instrument [Line Items]
Carrying Amount		$ 870	$ 833
Estimated Fair Value		$ 923	$ 847
Notes payable, interest rate		0.95%	0.95%
3.75% 2020 Senior Notes, due 2025
Debt Instrument [Line Items]
Carrying Amount		$ 693
Estimated Fair Value		$ 789
Notes payable, interest rate		3.75%
Debt instrument, term		5 years
3.25% 2020 Senior Notes, due 2050
Debt Instrument [Line Items]
Carrying Amount		$ 293
Estimated Fair Value		$ 320
Notes payable, interest rate		3.25%
Debt instrument, term		30 years
2.55% 2020 Senior Notes, due 2060
Debt Instrument [Line Items]
Carrying Amount		$ 491
Estimated Fair Value		$ 458
Notes payable, interest rate		2.55%
Debt instrument, term		40 years

Leases - Additional Information

Leases - Additional Information (Detail) $ in Millions	3 Months Ended
	Sep. 30, 2020USD ($)
Operating Leased Assets [Line Items]
Impairment of right-of-use	$ 11
Minimum
Operating Leased Assets [Line Items]
Lessee, operating lease, renewal term (years)	1 year
Maximum
Operating Leased Assets [Line Items]
Lessee, operating lease, renewal term (years)	20 years

Leases - Components of Lease Co

Leases - Components of Lease Cost (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Lease, Cost [Abstract]
Operating lease cost	$ 24	$ 24	$ 72	$ 73
Sublease income	(1)	0	(3)	0
Variable lease cost	4	5	14	13
Total lease cost	$ 27	$ 29	$ 83	$ 86

Leases - Operating Leases Infor

Leases - Operating Leases Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 27	$ 27	$ 80	$ 80
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 7	$ 12	$ 26	$ 28
Weighted-average remaining lease term (years)	6 years 3 months 18 days	6 years 10 months 24 days	6 years 3 months 18 days	6 years 10 months 24 days
Weighted-average discount rate applied to operating leases (percent)	3.60%	3.60%	3.60%	3.60%

Leases - Operating Leases, Futu

Leases - Operating Leases, Future Minimum Payment (Detail) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Leases [Abstract]
2020 (After September 30)	$ 27
2021	107
2022	96
2023	90
2024	81
After 2024	191
Total lease payments (undiscounted)	592
Less: Interest	62
Present value of lease liabilities:	530
Lease liabilities - current	91	$ 89
Lease liabilities - noncurrent	$ 439	$ 485

Segment Information - Additiona

Segment Information - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)segmentlineOfBusiness
Segment Reporting Information [Line Items]
Number of operating segments (segment) | segment	2
Number of reportable segments | segment	2
MIS
Segment Reporting Information [Line Items]
Number of lines of businesses | lineOfBusiness	5
MA
Segment Reporting Information [Line Items]
Number of lines of businesses | lineOfBusiness	2
2018 Restructuring Program | MIS
Segment Reporting Information [Line Items]
Restructuring charges, cost incurred to date	$ 62
2018 Restructuring Program | MA
Segment Reporting Information [Line Items]
Restructuring charges, cost incurred to date	44
2020 Restructuring Program | MIS
Segment Reporting Information [Line Items]
Restructuring charges, cost incurred to date	13
2020 Restructuring Program | MA
Segment Reporting Information [Line Items]
Restructuring charges, cost incurred to date	$ 10

Segment Information - Financial

Segment Information - Financial Information by Segment (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information, Operating Income (Loss) [Abstract]
Revenue	$ 1,356	$ 1,240	$ 4,081	$ 3,596
Total Expense	714	691	2,137	2,102
Operating income	642	549	1,944	1,494
Restructuring	23	(1)	20	58
Depreciation and amortization	56	48	163	150
Acquisition-Related Expenses	0	0	0	3
Loss pursuant to the divestiture of MAKS	0	2	9	11
Captive insurance company settlement	0	16	0	16
Adjusted Operating Income	721	614	2,136	1,732
Eliminations
Segment Reporting Information, Operating Income (Loss) [Abstract]
Revenue	(39)	(37)	(115)	(107)
Total Expense	(39)	(37)	(115)	(107)
Operating income	0	0	0	0
Restructuring	0	0	0	0
Depreciation and amortization	0	0	0	0
Acquisition-Related Expenses			0	0
Loss pursuant to the divestiture of MAKS	0	0	0	0
Captive insurance company settlement	0	0	0	0
Adjusted Operating Income	0	0	0	0
MIS
Segment Reporting Information, Operating Income (Loss) [Abstract]
Revenue	825	746	2,557	2,155
MIS | Operating Segments
Segment Reporting Information, Operating Income (Loss) [Abstract]
Revenue	863	781	2,667	2,255
Total Expense	339	340	1,051	1,028
Operating income	524	441	1,616	1,227
Restructuring	13	0	12	29
Depreciation and amortization	17	18	52	53
Acquisition-Related Expenses			0	0
Loss pursuant to the divestiture of MAKS	0	0	0	0
Captive insurance company settlement	0	10	0	10
Adjusted Operating Income	554	469	1,680	1,319
MA
Segment Reporting Information, Operating Income (Loss) [Abstract]
Revenue	531	494	1,524	1,441
MA | Operating Segments
Segment Reporting Information, Operating Income (Loss) [Abstract]
Revenue	532	496	1,529	1,448
Total Expense	414	388	1,201	1,181
Operating income	118	108	328	267
Restructuring	10	(1)	8	29
Depreciation and amortization	39	30	111	97
Acquisition-Related Expenses			0	3
Loss pursuant to the divestiture of MAKS	0	2	9	11
Captive insurance company settlement	0	6	0	6
Adjusted Operating Income	$ 167	$ 145	$ 456	$ 413

Segment Information - Consolida

Segment Information - Consolidated Revenue Information by Geographic Area (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Revenue	$ 1,356	$ 1,240	$ 4,081	$ 3,596
United States
Segment Reporting Information [Line Items]
Revenue	729	660	2,280	1,910
Non-U.S.
Segment Reporting Information [Line Items]
Revenue	627	580	1,801	1,686
EMEA
Segment Reporting Information [Line Items]
Revenue	401	362	1,137	1,057
Asia-Pacific
Segment Reporting Information [Line Items]
Revenue	156	142	436	415
Americas
Segment Reporting Information [Line Items]
Revenue	$ 70	$ 76	$ 228	$ 214

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event	Oct. 27, 2020$ / shares
Subsequent Event [Line Items]
Dividend declared, declaration date	Oct. 27, 2020
Dividend declared, per share (in USD per share)	$ 0.56
Dividend declared, payable date	Dec. 14, 2020
Dividend declared, record date	Nov. 23, 2020