Moody's (MCO) 10-K 22 Feb 22 2021 FY Annual report Financial data

Cover Page

Cover Page - USD ($) shares in Millions, $ in Billions	12 Months Ended
	Dec. 31, 2021	Jan. 31, 2022	Jun. 30, 2021
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Current Fiscal Year End Date	--12-31
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 68
Entity Common Stock, Shares Outstanding (in shares)		185.2
Documents Incorporated by Reference	Portions of the Registrant’s definitive proxy statement for use in connection with its annual meeting of stockholders scheduled to be held on April 26, 2022, are incorporated by reference into Part III of this Form 10-K.
Entity Central Index Key	0001059556
Document Fiscal Period Focus	FY
Amendment Flag	false
Document Fiscal Year Focus	2021
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% 2015 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% 2019 Senior Note, 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

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2021
Audit Information [Abstract]
Auditor Name	KPMG LLP
Auditor Location	New York, NY
Auditor Firm ID	185

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Revenue	$ 6,218	$ 5,371	$ 4,829
Expenses
Operating	1,637	1,475	1,387
Selling, general and administrative	1,480	1,229	1,167
Restructuring	0	50	60
Depreciation and amortization	257	220	200
Acquisition-Related Expenses	0	0	3
Loss pursuant to the divestiture of MAKS	0	9	14
Total expenses	3,374	2,983	2,831
Operating income	2,844	2,388	1,998
Non-operating (expense) income, net
Interest expense, net	(171)	(205)	(208)
Other non-operating income, net	82	46	20
Non-operating (expense) income, net	(89)	(159)	(188)
Income before provision for income taxes	2,755	2,229	1,810
Provision for income taxes	541	452	381
Net income	2,214	1,777	1,429
Less: Net (loss) income attributable to noncontrolling interests	0	(1)	7
Net income attributable to Moody’s	$ 2,214	$ 1,778	$ 1,422
Earnings per share
Basic (in USD per share)	$ 11.88	$ 9.48	$ 7.51
Diluted (in USD per share)	$ 11.78	$ 9.39	$ 7.42
Weighted average shares outstanding
Basic (in shares)	186.4	187.6	189.3
Diluted (in shares)	187.9	189.3	191.6

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 2,214	$ 1,777	$ 1,429
Foreign Currency Adjustments:
Foreign currency translation adjustment - Pre Tax	(303)	361	(22)
Foreign currency translation adjustment - Tax	11	(13)	(1)
Foreign currency translation adjustment - Net of Tax	(292)	348	(23)
Foreign currency translation adjustments - reclassification of losses included in net income - Pre Tax	0	0	32
Foreign currency translation adjustments - reclassification of losses included in net income - Tax	0	0	0
Foreign currency translation adjustments - reclassification of losses included in net income - Net of Tax	0	0	32
Net (losses) gains on net investment hedges - Pre Tax	319	(364)	35
Net (losses) gains on net investment hedges - Tax	(77)	91	(9)
Net (losses) gains on net investment hedges - Net of Tax	242	(273)	26
Net investment hedges - reclassification of gains included in net income - Pre Tax	(2)	(1)	(3)
Net investment hedges - reclassification of gains included in net income - Tax	1	0	1
Net investment hedges - reclassification of gains included in net income - Net of Tax	(1)	(1)	(2)
Cash Flow Hedges:
Net losses on cash flow hedges - Pre Tax	0	(68)	0
Net losses on cash flow hedges - Tax	0	17	0
Net losses on cash flow hedges - Net of Tax	0	(51)	0
Reclassification of (losses) gains included in net income - Pre Tax	2	3	0
Reclassification of (losses) gains included in net income - Tax	0	(1)	0
Reclassification of (losses) gains included in net income - Net of Tax	2	2	0
Pension and Other Retirement Benefits:
Amortization of actuarial losses and prior service costs and settlement charge included in net income, before tax	19	8	3
Amortization of actuarial losses and prior service costs and settlement charge included in net income - Tax	(5)	(2)	(1)
Amortization of actuarial losses and prior service costs and settlement charge included in net income - Net of Tax	14	6	2
Net actuarial (losses) gains and prior service costs - Pre Tax	73	(42)	(32)
Net actuarial (losses) gains and prior service costs - Tax	(18)	10	8
Net actuarial (losses) gains and prior service costs - Net of Tax	55	(32)	(24)
Total other comprehensive (loss) income - Pre Tax	108	(103)	13
Total other comprehensive (loss)income - Tax	(88)	102	(2)
Total Other Comprehensive Income (Loss)	20	(1)	11
Comprehensive Income	2,234	1,776	1,440
Less: comprehensive (loss) income attributable to noncontrolling interests	(2)	(8)	11
Comprehensive Income Attributable to Moody’s	$ 2,236	$ 1,784	$ 1,429

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 1,811	$ 2,597
Short-term investments	91	99
Accounts receivable, net of allowances for credit losses of $32 in 2021 and $34 in 2020	1,720	1,430
Other current assets	389	383
Total current assets	4,011	4,509
Property and equipment, net	347	278
Operating lease right-of-use assets	438	393
Goodwill	5,999	4,556
Intangible assets, net	2,467	1,824
Deferred tax assets, net	384	334
Other assets	1,034	515
Total assets	14,680	12,409
Current liabilities:
Accounts payable and accrued liabilities	1,142	1,039
Current portion of operating lease liabilities	105	94
Deferred revenue	1,249	1,089
Total current liabilities	2,496	2,222
Non-current portion of deferred revenue	86	98
Long-term debt	7,413	6,422
Deferred tax liabilities, net	488	404
Uncertain tax positions	388	483
Operating lease liabilities	455	427
Other liabilities	438	590
Total liabilities	11,764	10,646
Contingencies
Shareholders’ equity:
Preferred stock, par value $.01 per share; 10,000,000 shares authorized; no shares issued and outstanding	0	0
Capital surplus	885	735
Retained earnings	12,762	11,011
Treasury stock, at cost; 157,262,484 and 155,808,563 shares of common stock at December 31, 2021 and December 31, 2020, respectively	(10,513)	(9,748)
Accumulated other comprehensive loss	(410)	(432)
Total Moody’s shareholders’ equity	2,727	1,569
Noncontrolling interests	189	194
Total shareholders’ equity	2,916	1,763
Total liabilities and shareholders’ equity	14,680	12,409
Series Common Stock
Shareholders’ equity:
Common stock	0	0
Non-Series Common Stock
Shareholders’ equity:
Common stock	$ 3	$ 3

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Accounts receivable, allowances	$ 32	$ 34
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)	157,262,484	155,808,563
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 - USD ($) $ in Millions	12 Months Ended			24 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020
Cash flows from operating activities
Net income	$ 2,214	$ 1,777	$ 1,429
Reconciliation of net income to net cash provided by operating activities:
Depreciation and amortization	257	220	200
Stock-based compensation	175	154	136
Deferred income taxes	(218)	(44)	(38)
Prepayment penalty relating to early redemption of debt	13	24	12
Non-cash gain related to minority interest in BitSight	(36)	0	0
Settlement of treasury rate lock	0	(68)	0
ROU asset impairment & other non-cash restructuring/impairment charges	0	36	38
Loss pursuant to the divestiture of MAKS	0	9	14
Changes in assets and liabilities:
Accounts receivable	(257)	31	(134)
Other current assets	(12)	(38)	(88)
Other assets	(26)	(49)	(69)
Lease obligations	(11)	(10)	(16)
Accounts payable and accrued liabilities	80	247	65
Deferred revenue	65	(29)	76
Unrecognized tax positions and other non-current tax liabilities	(184)	(12)	8
Other liabilities	(55)	(102)	42
Net cash provided by operating activities	2,005	2,146	1,675
Cash flows from investing activities
Capital additions	(139)	(103)	(69)
Purchases of investments	(437)	(181)	(138)
Sales and maturities of investments	147	104	174
Cash received upon disposal of a business, net of cash transferred to purchaser	0	0	226
Cash paid for acquisitions, net of cash acquired	(2,179)	(897)	(162)
Receipts from settlements of net investment hedges	37	2	12
Payments for settlements of net investment hedges	(48)	(2)	(7)
Net cash (used in) provided by investing activities	(2,619)	(1,077)	36
Cash flows from financing activities
Issuance of notes	1,672	1,491	824
Repayment of notes	(500)	(800)	(950)
Issuance of commercial paper	0	789	1,317
Repayment of commercial paper	0	(792)	(1,320)
Proceeds from stock-based compensation plans	38	51	45
Repurchase of shares related to stock-based compensation	(83)	(104)	(77)
Treasury shares	(750)	(503)	(991)
Dividends	(463)	(420)	(378)
Dividends to noncontrolling interests	(5)	(1)	(3)
Payment for noncontrolling interest	0	(23)	(12)
Debt issuance costs, extinguishment costs and related fees	(31)	(39)	(18)
Net cash used in financing activities	(122)	(351)	(1,563)
Effect of exchange rate changes on cash and cash equivalents	(50)	47	(1)
(Decrease) increase in cash and cash equivalents	(786)	765	147
Cash and cash equivalents, beginning of period	2,597	1,832	1,685	$ 1,685
Cash and cash equivalents, end of period	$ 1,811	$ 2,597	$ 1,832	$ 2,597

CONSOLIDATED STATEMENT OF SHARE

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (DEFICIT) - USD ($) shares in Millions, $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	Total Moody’s Shareholders’ Equity	Total Moody’s Shareholders’ EquityCumulative Effect, Period of Adoption, Adjustment	Common Stock	Capital Surplus	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, Adjustment	Treasury Stock	Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive LossCumulative Effect, Period of Adoption, Adjustment	Non- Controlling Interests
Beginning Balance (in shares) at Dec. 31, 2018					342.9				151.6
Beginning Balance at Dec. 31, 2018	$ 656		$ 459		$ 3	$ 601	$ 8,594		$ (8,313)	$ (426)		$ 197
Beginning Balance (Accounting Standards Update 2018-02) at Dec. 31, 2018		$ 0		$ 0				$ 20			$ (20)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,429		1,422				1,422					7
Dividends	(383)		(380)				(380)					(3)
Stock-based compensation	136		136			136
Shares issued for stock-based compensation plans at average cost, net	(32)		(32)			(70)			$ 38
Shares issued for stock-based compensation plans at average cost, net (in shares)									1.6
Purchase of noncontrolling interest	(12)		(9)			(9)						(3)
Non-controlling interest resulting from majority acquisition of Vigeo Eiris	17		0									17
Treasury shares repurchased	(991)		(991)			(16)			$ (975)
Treasury shares repurchased (in shares)									(5.2)
Currency translation adjustment, net of net investment hedge activity	33		29							29		4
Net actuarial gains (losses) and prior service cost	(24)		(24)							(24)
Amortization of prior service costs and actuarial losses	2		2							2
Ending Balance (in shares) at Dec. 31, 2019					342.9				155.2
Ending Balance at Dec. 31, 2019	$ 831		612		$ 3	642	9,656	(2)	$ (9,250)	(439)		219
Ending Balance (Accounting Standards Update 2016-13) at Dec. 31, 2019		$ (2)		$ (2)				$ (2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]	Accounting Standards Update 2016-13
Net income	$ 1,777
Net income	1,778		1,778				1,778					0
Dividends	(424)		(421)				(421)					(3)
Stock-based compensation	154		154			154
Shares issued for stock-based compensation plans at average cost, net	(53)		(53)			(58)			$ 5
Shares issued for stock-based compensation plans at average cost, net (in shares)									1.4
Purchase of noncontrolling interest	(17)		(3)			(3)						(14)
Treasury shares repurchased	(503)		(503)			0			$ (503)
Treasury shares repurchased (in shares)									(2)
Currency translation adjustment, net of net investment hedge activity	74		82							82		(8)
Net actuarial gains (losses) and prior service cost	(32)		(32)							(32)
Amortization of prior service costs and actuarial losses	6		6							6
Net realized and unrealized gain on cash flow hedges	(49)		(49)							(49)
Ending Balance (in shares) at Dec. 31, 2020					342.9				155.8
Ending Balance at Dec. 31, 2020	$ 1,763		1,569		$ 3	735	11,011		$ (9,748)	(432)		194
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]	Accounting Standards Update 2016-13
Net income	$ 2,214		2,214				2,214					0
Dividends	(466)		(463)				(463)					(3)
Stock-based compensation	175		175			175
Shares issued for stock-based compensation plans at average cost, net	(40)		(40)			(25)			$ (15)
Shares issued for stock-based compensation plans at average cost, net (in shares)									0.7
Treasury shares repurchased	(750)		(750)			0			$ (750)
Treasury shares repurchased (in shares)									(2.2)
Currency translation adjustment, net of net investment hedge activity	(51)		(49)							(49)		(2)
Net actuarial gains (losses) and prior service cost	55		55							55
Amortization of prior service costs and actuarial losses	14		14							14
Net realized and unrealized gain on cash flow hedges	2		2							2
Ending Balance (in shares) at Dec. 31, 2021					342.9				157.3
Ending Balance at Dec. 31, 2021	$ 2,916		$ 2,727		$ 3	$ 885	$ 12,762		$ (10,513)	$ (410)		$ 189

CONSOLIDATED STATEMENT OF SHA_2

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (DEFICIT) (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Stockholders' Equity [Abstract]
Dividends declared per share attributable to Moody's common shareholders (in USD per share)	$ 2.48	$ 2.24	$ 2
Currency translation adjustment, tax	$ (65)	$ 78	$ 9
Net actuarial gains (losses) and prior service cost, tax	18	(10)	(8)
Amortization of actuarial losses and prior service costs included in net income, tax	$ 5	2	$ 1
Net unrealized and unrealized gain (loss) on cash flow hedges, tax		$ 16

DESCRIPTION OF BUSINESS AND BAS

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 2021
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 global integrated risk assessment firm that empowers organizations and investors to make better decisions. Moody’s reports in two reportable segments: MIS and MA. MIS publishes credit ratings and provides assessment services on a wide range of debt obligations, programs and facilities, and the entities that issue such obligations in markets worldwide, including various corporate, financial institution and governmental obligations, and structured finance securities. MA is a global provider of: i) data and information; ii) research and insights; and iii) decision solutions, which help companies make better and faster decisions. MA leverages its industry expertise across multiple risks such as credit, market, financial crime, supply chain, catastrophe and climate to deliver integrated risk assessment solutions that enable business leaders to identify, measure and manage the implications of interrelated risks and opportunities. 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 is now 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 January 2021, the FASB issued ASU 2021-01, “Reference Rate Reform - Scope,” which clarified the scope and application of the original guidance, ASU No. 2020-04, "Facilitation of the Effects of Reference Rate Reform on Financial Reporting" ("ASU No. 2020-04"), issued in March 2020. ASU No. 2020-04 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. Both ASU's were effective upon issuance, and the Company may elect to apply the amendments prospectively through December 31, 2022 as the transition from LIBOR is completed. Refer to Recently Issued Accounting Pronouncements in Note 2 for further information. On December 31, 2020, the Company adopted 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 Company is also now required to present a narrative description of significant gains or losses in the benefit obligation over the past year. The Company adopted this ASU retrospectively for all periods presented with the new required disclosures presented in Note 15. On January 1, 2021, the Company adopted 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. The Company adopted this ASU prospectively and it did not have a material impact on the Company's financial statements. On January 1, 2021, the Company adopted 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. The Company adopted this ASU prospectively and it did not have a material impact on the Company's current financial statements. COVID-19 The COVID-19 pandemic has not had a material adverse impact on the Company's reported results to date and is currently not expected to have a material adverse impact on its near-term outlook. However, Moody's is unable to predict the longer-term impact that the pandemic may have on its business, future results of operations, financial position or cash flows due to numerous uncertainties.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Consolidation The consolidated financial statements include those of Moody’s Corporation and its majority- and wholly-owned subsidiaries. The effects of all intercompany transactions have been eliminated. Investments in companies for which the Company has significant influence over operating and financial policies but not a controlling interest are accounted for on an equity basis whereby the Company records its proportional share of the investment’s net income or loss as part of other non-operating income (expense), net and any dividends received reduce the carrying amount of the investment. Equity investments without a readily determinable fair value for which the Company does not have significant influence are accounted for under the ASC 321 measurement alternative; these investments are recorded at initial cost, less impairment, adjusted upward or downward for any observable price changes in similar investments. The Company applies the guidelines set forth in Topic 810 of the ASC in assessing its interests in variable interest entities to decide whether to consolidate an entity. The Company has reviewed the potential variable interest entities and determined that there are no consolidation requirements under Topic 810 of the ASC. The Company consolidates its ICRA subsidiaries on a three month lag. Cash and Cash Equivalents Cash equivalents principally consist of investments in money market deposit accounts as well as certificates of deposit with maturities of three months or less when purchased. Short-term Investments Short-term investments are securities with maturities greater than 90 days at the time of purchase that are available for operations in the next 12 months. The Company’s short-term investments primarily consist of certificates of deposit and their cost approximates fair value due to the short-term nature of the instruments. Interest and dividends on these investments are recorded into income when earned. Property and Equipment Property and equipment are stated at cost and are depreciated using the straight-line method over their estimated useful lives. Expenditures for maintenance and repairs that do not extend the economic useful life of the related assets are charged to expense as incurred. 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, website and other systems. Such costs generally consist of direct costs for third-party 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. 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). Goodwill and Other Acquired Intangible Assets Moody’s evaluates its goodwill for impairment at the reporting unit level, defined as an operating segment (i.e., MIS and MA), or one level below an operating segment (i.e., a component of an operating segment), annually as of July 31 or more frequently if impairment indicators arise in accordance with ASC Topic 350. The Company evaluates the recoverability of goodwill using a two-step impairment test approach at the reporting unit level. In the first step, the Company assesses various qualitative factors to determine whether the fair value of a reporting unit may be less than its carrying amount. If a determination is made based on the qualitative factors that an impairment does not exist, the Company is not required to perform further testing. If the aforementioned qualitative assessment results in the Company concluding that it is more likely than not that the fair value of a reporting unit may be less than its carrying amount, the fair value of the reporting unit will be quantitatively determined and compared to its carrying value including goodwill. If the fair value of the reporting unit exceeds the carrying value of the net assets assigned to that unit, goodwill is not impaired and the Company is not required to perform further testing. If the fair value of the reporting unit is less than the carrying value, the Company will record a goodwill impairment charge for the amount by which the carrying value exceeds the reporting unit’s fair value. The Company evaluates its reporting units on an annual basis, or more frequently if there are changes in the reporting structure of the Company due to acquisitions, reporting unit realignments or if there are indicators of potential impairment. For the reporting units where the Company is consistently able to conclude that no impairment exists using only a qualitative approach, the Company’s accounting policy is to perform the second step of the aforementioned goodwill impairment assessment at least once every three years. Goodwill is assigned to a reporting unit at the date when an acquisition is integrated into one of the established reporting units, and is based on which reporting unit is expected to benefit from the synergies of the acquisition. For purposes of assessing the recoverability of goodwill, the Company has four reporting units: two within the Company’s ratings business (one for the ICRA business and one that encompasses all of Moody’s other ratings operations) and two reporting units within MA consisting of businesses that offer: i) data and data-driven analytical solutions; and ii) risk-management software, workflow and CRE solutions. Impairment of long-lived assets and definite-lived intangible assets Long-lived assets (including ROU Assets) and amortizable intangible assets are reviewed for recoverability whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Under the first step of the recoverability assessment, the Company compares the estimated undiscounted future cash flows attributable to the asset or asset group to their carrying value. If the undiscounted future cash flows are greater than the carrying value, no further assessment is required. If the undiscounted future cash flows are less than the carrying value, Moody's proceeds with step two of the assessment. Under step two of this assessment, Moody's is required to determine the fair value of the asset or asset group (reduced by the estimated cost to sell the asset for assets or disposal groups classified as held-for-sale) and recognize an impairment loss if the carrying amount exceeds its fair value. Stock-Based Compensation The Company records compensation expense over the requisite service period for all share-based payment award transactions granted to employees based on the fair value of the equity instrument at the time of grant. This includes shares issued under stock option and restricted stock plans. Derivative Instruments and Hedging Activities Based on the Company’s risk management policy, the Company may use derivative financial instruments to reduce exposure to changes in foreign exchange rates and interest rates. The Company does not enter into derivative financial instruments for speculative purposes. All derivative financial instruments are recorded on the balance sheet at their respective fair values on a gross basis. The changes in the value of derivatives that qualify as fair value hedges are recorded in the same income statement line item in earnings in which the corresponding adjustment to the carrying value of the hedged item is presented. The entire change in the fair value of derivatives that qualify as cash flow hedges is recorded to OCI and such amounts are reclassified from AOCI(L) to the same income statement line in earnings in the same period or periods during which the hedged transaction affects income. The Company assesses effectiveness for net investment hedges using the spot-method. The entire change in the fair value of derivatives that qualify as net investment hedges is initially recorded to OCI. Those changes in fair value attributable to components included in the assessment of hedge effectiveness in a net investment hedge are recorded in the currency translation adjustment component of OCI and remain in AOCI(L) until the period in which the hedged item affects earnings. Those changes in fair value attributable to components excluded from the assessment of hedge effectiveness in a net investment hedge are recorded to OCI and amortized to earnings using a systematic and rational method over the duration of the hedge. Any changes in the fair value of derivatives that the Company does not designate as hedging instruments under Topic 815 of the ASC are recorded in the consolidated statements of operations in the period in which they occur. Revenue Recognition and Costs to Obtain or Fulfill a Contract with a Customer Revenue recognition: Revenue is recognized when control of promised goods or services is transferred to the customer, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. When contracts with customers contain multiple performance obligations, the Company accounts for individual performance obligations separately if they are distinct. The transaction price is allocated to each distinct performance obligation on a relative SSP basis. The Company determines the SSP by using the price charged for a deliverable when sold separately or uses management’s best estimate of SSP for goods or services not sold separately using estimation techniques that maximize observable data points, including: internal factors relevant to its pricing practices such as costs and margin objectives; standalone sales prices of similar products; pricing policies; percentage of the fee charged for a primary product or service relative to a related product or service; and customer segment and geography. Additional consideration is also given to market conditions such as competitor pricing strategies and market trends. Sales, usage-based, value added and other taxes are excluded from revenues. MIS Revenue In the MIS segment, revenue arrangements with multiple elements are generally comprised of two distinct performance obligations, a rating and the related monitoring service. Revenue attributed to ratings of issued securities is generally recognized when the rating is delivered to the issuer. Revenue attributed to monitoring of issuers or issued securities is recognized ratably over the period in which the monitoring is performed, generally one year. In the case of certain structured finance products, primarily CMBS, issuers can elect to pay all of the annual monitoring fees upfront. These fees are deferred and recognized over the future monitoring periods based on the expected lives of the rated securities. MIS arrangements generally have standard contractual terms for which the stated payments are due at conclusion of the ratings process for ratings and either upfront or in arrears for monitoring services; and are signed by customers either on a per issue basis or at the beginning of the relationship with the customer. In situations when customer fees for an arrangement may be variable, the Company estimates the variable consideration at inception using the expected value method based on analysis of similar contracts in the same line of business, which is constrained based on the Company’s assessment of the realization of the adjustment amount. The Company allocates the transaction price within arrangements that include multiple performance obligations based upon the relative SSP of each service. The SSP for both rating and monitoring services is generally based upon observable selling prices where the rating or monitoring service is sold separately to similar customers. MA Revenue In the MA segment, products and services offered by the Company include hosted research and data subscriptions, installed and hosted software subscriptions, perpetual installed software licenses and related maintenance, or PCS, and professional services. Subscription and PCS contracts are generally invoiced in advance of the contractual coverage period, which is principally one year, but can range from 3-5 years; while perpetual software licenses are generally invoiced upon delivery and professional services are invoiced as those services are provided. Payment terms and conditions vary by contract type, but primarily include a requirement of payment within 30 to 60 days. Revenue from research, data and other hosted subscriptions is recognized ratably over the related subscription period as MA's performance obligation to provide access to these products is progressively fulfilled over the stated term of the contract. A large portion of these services are invoiced in the months of November, December and January. Revenue from the sale of a software license, when considered distinct from the related software implementation services, is generally recognized at the time the product master or first copy is delivered or transferred to the customer. PCS is generally recognized ratably over the contractual period commencing when the software license is fully delivered. Revenue from installed software subscriptions, which includes PCS, is bifurcated into a software license performance obligation and a PCS performance obligation, which follow the patterns of recognition described above. For implementation services and other service projects within the ERS and ESA businesses for which fees are fixed, the Company determined progress towards completion is most accurately measured on a percentage-of-completion basis (input method) as this approach utilizes the most directly observable data points and is therefore used to recognize the related revenue. For implementation services where price varies based on time expended, a time-based measure of progress towards completion of the performance obligation is utilized. Revenue from professional services rendered is generally recognized as the services are performed over time. Products and services offered within the MA segment are sold either stand-alone or together in various combinations. In instances where an arrangement contains multiple performance obligations, the Company accounts for the individual performance obligations separately if they are considered distinct. Revenue is generally allocated to all performance obligations based upon the relative SSP at contract inception. For certain performance obligations, judgment is required to determine the SSP. Revenue is recognized for each performance obligation based upon the conditions for revenue recognition noted above. In the MA segment, customers usually pay a fixed fee for the products and services based on signed contracts. However, accounting for variable consideration is applied mainly for: i) estimates for cancellation rights and price concessions and ii) T&M based services. The Company estimates the variable consideration associated with cancellation rights and price concessions based on the expected amount to be provided to customers and reduces the amount of revenue to be recognized. T&M based contracts represent about half of MA’s service projects within the ERS and ESA businesses. The Company provides agreed upon services at a contracted daily or hourly rate. The commitment represents a series of goods and services that are substantially the same and have the same pattern of transfer to the customer. As such, if T&M services are sold with other MA products, the Company allocates the variable consideration entirely to the T&M performance obligation if the services are sold at standard pricing or at a similar discount level compared to other performance obligations in the same revenue contract. If these criteria are not met, the Company estimates variable consideration for each performance obligation upfront. Each form of variable consideration is included in the transaction price only to the extent that it is probable that a significant reversal of any incremental revenue will not occur. Costs to Obtain or Fulfill a Contract with a Customer: Costs to obtain a contract with a customer Costs incurred to obtain customer contracts, such as sales commissions, are deferred and recorded within other current assets and other assets when such costs are determined to be incremental to obtaining a contract, would not have been incurred otherwise and the Company expects to recover those costs. These costs are amortized to expense on a systematic basis consistent with the transfer of the products or services to the customer. Depending on the line of business to which the contract relates, this may be based upon the average economic life of the products sold or average period for which services are provided, inclusive of anticipated contract renewals. Determining the estimated economic life of the products sold requires judgment with respect to anticipated future technological changes. Costs to obtain customer contracts are only incurred in the MA segment. Cost to fulfill a contract with a customer Costs incurred to fulfill customer contracts, are deferred and recorded within other current assets and other assets when such costs relate directly to a contract, generate or enhance resources of the Company that will be used in satisfying performance obligations in the future and the Company expects to recover those costs. The Company capitalizes work-in-process costs for in-progress MIS ratings, which is recognized consistent with the rendering of the related services to the customers, as ratings are issued. In addition, within the MA segment, the Company capitalizes royalty costs related to third-party information data providers associated with hosted company information and business intelligence products. These costs are amortized to expense consistent with the recognition pattern of the related revenue over time. Accounts Receivable Allowances 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, and 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. Leases The Company has operating leases, of which substantially all 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. The Company determines if an arrangement meets the definition of a lease at contract inception. The Company recognizes in its consolidated balance sheet a lease liability and an ROU Asset for all leases with a lease term greater than 12 months. In determining the length of the lease term, the Company utilizes judgment in assessing the likelihood of whether it is reasonably certain that it will exercise an option to extend or early-terminate a lease, if such options are provided in the lease agreement. ROU Assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU Assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As substantially all of the Company’s leases do not provide an implicit interest rate, the Company uses its estimated secured incremental borrowing rates at the lease commencement date in determining the present value of lease payments. These secured incremental borrowing rates are attributable to the currency in which the lease is denominated. At commencement, the Company’s initial measurement of the ROU Asset is calculated as the present value of the remaining lease payments (i.e., lease liability), with additive adjustments reflecting: initial direct costs (e.g., broker commissions) and prepaid lease payments (if any); and reduced by any lease incentives provided by the lessor if: (i) received before lease commencement or (ii) receipt of the lease incentive is contingent upon future events for which the occurrence is both probable and within the Company’s control. Lease expense for minimum operating lease payments is recognized on a straight-line basis over the lease term. This straight-line lease expense represents a single lease cost which is comprised of both an interest accretion component relating to the lease liability and amortization of the ROU Assets. The Company records this single lease cost in operating and SG&A expenses. However, in situations where an operating lease ROU Asset has been impaired, the subsequent amortization of the ROU Asset is then recorded on a straight-line basis over the remaining lease term and is combined with accretion expense on the lease liability to result in single operating lease cost (which subsequent to impairment will no longer follow a straight-line recognition pattern). The Company has lease agreements which include lease and non-lease components. For the Company’s office space leases, the lease components (e.g., fixed rent payments) and non-lease components (e.g., fixed common-area maintenance costs) are combined and accounted for as a single lease component. Variable lease payments (e.g. variable common-area-maintenance costs) are only included in the initial measurement of the lease liability to the extent those payments depend on an index or a rate. Variable lease payments not included in the lease liability are recognized in net income in the period in which the obligation for those payments is incurred. Contingencies Moody’s is involved in legal and tax proceedings, governmental, regulatory and legislative investigations and inquiries, claims and litigation that are incidental to the Company’s business, including claims based on ratings assigned by MIS. Moody’s is also subject to ongoing tax audits in the normal course of business. Management periodically assesses the Company’s liabilities and contingencies in connection with these matters based upon the latest information available. Moody’s discloses material pending legal proceedings pursuant to SEC rules and other pending matters as it may determine to be appropriate. 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 Company often cannot predict what the eventual outcome of the pending matters will be or the timing of any resolution of such matters. The Company also may be unable to predict the impact (if any) that any such matters may have on how its business is conducted, on its competitive position or on its financial position, results of operations or cash flows. As the process to resolve any pending matters progresses, management will continue to review the latest information available and assess its ability to predict the outcome of such matters and the effects, if any, on its operations and financial condition and to accrue for and disclose such matters as and when required. However, because such matters are inherently unpredictable and unfavorable developments or resolutions can occur, the ultimate outcome of such matters, including the amount of any loss, may differ from those estimates. Operating Expenses Operating expenses include costs associated with the development and production of the Company’s products and services and their delivery to customers. These expenses principally include employee compensation and benefits and travel costs that are incurred in connection with these activities. Operating expenses are charged to income as incurred. Selling, General and Administrative Expenses SG&A expenses include such items as compensation and benefits for corporate officers and staff and compensation and other expenses related to sales. They also include items such as office rent, business insurance, professional fees and gains and losses from sales and disposals of assets. SG&A expenses are charged to income as incurred. Foreign Currency Translation For all operations outside the U.S. where the Company has designated the local currency as the functional currency, assets and liabilities are translated into U.S. dollars using end of year exchange rates, and revenue and expenses are translated using average exchange rates for the year. For these foreign operations, currency translation adjustments are recorded to other comprehensive income. Comprehensive Income Comprehensive income represents the change in net assets of a business enterprise during a period due to transactions and other events and circumstances from non-owner sources including: foreign currency translation impacts; net actuarial gains and losses and net prior service costs related to pension and other retirement plans; and gains and losses on derivative instruments designated as net investment hedges or cash flow hedges. Comprehensive income items, including cumulative translation adjustments of entities that are less-than-wholly-owned subsidiaries, will be reclassified to noncontrolling interests and thereby, adjusting accumulated other comprehensive income proportionately in accordance with the percentage of ownership interest of the non-controlling shareholder. Income Taxes The Company accounts for income taxes under the asset and liability method in accordance with ASC Topic 740. Therefore, income tax expense is based on reported income before income taxes and deferred income taxes reflect the effect of temporary differences between the amounts of assets and liabilities that are recognized for financial reporting purposes and the amounts that are recognized for income tax purposes. The Company classifies interest related to unrecognized tax benefits as a component of interest expense in its consolidated statements of operations. Penalties are recognized in other non-operating expenses. For UTPs, the Company first determines whether it is more-likely-than-not (defined as a likelihood of more than fifty percent) that a tax position will be sustained based on its technical merits as of the reporting date, assuming that taxing authorities will examine the position and have full knowledge of all relevant information. A tax position that meets this more-likely-than-not threshold is then measured and recognized at the largest amount of benefit that is greater than fifty percent likely to be realized upon effective settlement with a taxing authority. On December 22, 2017, the Tax Act was signed into law, resulting in all previously undistributed foreign earnings being subject to U.S. tax. The Company has provided deferred taxes for those entities whose earnings are not considered indefinitely reinvested. Fair Value of Financial Instruments The Company’s financial instruments include cash, cash equivalents, trade receivables and payables, and certain short-term investments consisting primarily of certificates of deposit and money market deposits, all of which are short-term in nature and, accordingly, approximate fair value. The Company also invests in mutual funds, which are accounted for as equity securities with readily determinable fair values under ASC Topic 321. The Company measures these investments at fair value with both realized gains and losses and unrealized holding gains and losses for these investments included in net income. Also, the Company uses derivative instruments to manage certain financial exposures that occur in the normal course of business. These derivative instruments are carried at fair value in the Company’s consolidated balance sheets. Fair value is defined by the ASC 820 as the price that would be received from selling an asset or paid to transfer a liability (i.e., an exit price) in an orderly transaction between market participants at the measurement date. The determination of this fair value is based on the principal or most advantageous market in which the Company could commence transactions and considers assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions and risk of nonperformance. Also, determination of fair value assumes that market participants will consider the highest and best use of the asset. The ASC establishes a fair value hierarchy whereby the inputs contained in valuation techniques used to measure fair value are categorized into three broad levels as follows: Level 1: quoted market prices in active markets that the reporting entity has the ability to access at the date of the fair value measurement; Level 2: inputs other than quoted market prices described in Level 1 that are observable for the asset or liability, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; Level 3: unobservable inputs that are supported by little or no market activity and that are significant to the fair value measurement of the assets or liabilities. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk principally consist of cash and cash equivalents, short-term investments, trade receivables and derivatives. The Company manages its

REVENUES

REVENUES	12 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
REVENUES	REVENUES Revenue by Category The following table presents the Company’s revenues disaggregated by LOB: Year Ended December 31, 2021 2020 2019 MIS: Corporate finance (CFG) Investment-grade $ 439 $ 636 $ 379 High-yield 411 352 258 Bank loans 606 287 313 Other accounts (CFG) (1) 631 582 547 Total CFG 2,087 1,857 1,497 Financial institutions (FIG) Banking 411 355 320 Insurance 145 137 119 Managed investments 36 28 25 Other accounts (FIG) 10 10 12 Total FIG 602 530 476 Public, project and infrastructure finance (PPIF) Public finance / sovereign 244 250 222 Project and infrastructure 277 246 224 Total PPIF 521 496 446 Structured finance (SFG) Asset-backed securities 118 98 99 RMBS 123 96 95 CMBS 102 61 81 Structured credit 215 105 148 Other accounts (SFG) 2 2 4 Total SFG 560 362 427 Total ratings revenue 3,770 3,245 2,846 MIS Other 42 47 29 Total external revenue 3,812 3,292 2,875 Intersegment royalty 165 148 134 Total MIS 3,977 3,440 3,009 MA: Research, data and analytics (RD&A) 1,745 1,514 1,273 Enterprise risk solutions (ERS) 661 565 522 Professional services (PS) (2) — — 159 Total external revenue 2,406 2,079 1,954 Intersegment revenue 7 7 9 Total MA 2,413 2,086 1,963 Eliminations (172) (155) (143) Total MCO $ 6,218 $ 5,371 $ 4,829 (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: Year Ended December 31, 2021 Year Ended December 31, 2020 Year Ended December 31, 2019 U.S. Non-U.S. Total U.S. Non-U.S. Total U.S. Non-U.S. Total MIS: Corporate finance $ 1,384 $ 703 $ 2,087 $ 1,291 $ 566 $ 1,857 $ 968 $ 529 $ 1,497 Financial institutions 289 313 602 250 280 530 200 276 476 Public, project and infrastructure finance 304 217 521 311 185 496 282 164 446 Structured finance 364 196 560 214 148 362 270 157 427 Total ratings revenue 2,341 1,429 3,770 2,066 1,179 3,245 1,720 1,126 2,846 MIS Other 3 39 42 2 45 47 1 28 29 Total MIS 2,344 1,468 3,812 2,068 1,224 3,292 1,721 1,154 2,875 MA: Research, data and analytics 758 987 1,745 668 846 1,514 558 715 1,273 Enterprise risk solutions 314 347 661 219 346 565 201 321 522 Professional services (PS) (1) — — — — — — 64 95 159 Total MA 1,072 1,334 2,406 887 1,192 2,079 823 1,131 1,954 Total MCO $ 3,416 $ 2,802 $ 6,218 $ 2,955 $ 2,416 $ 5,371 $ 2,544 $ 2,285 $ 4,829 (1) 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 reportable segment revenues disaggregated by segment and geographic region: Year Ended December 31, 2021 2020 2019 MIS: U.S. $ 2,344 $ 2,068 $ 1,721 Non-U.S.: EMEA 930 727 686 Asia-Pacific 357 345 320 Americas 181 152 148 Total Non-U.S. 1,468 1,224 1,154 Total MIS 3,812 3,292 2,875 MA: U.S. 1,072 887 823 Non-U.S.: EMEA 936 818 760 Asia-Pacific 239 226 231 Americas 159 148 140 Total Non-U.S. 1,334 1,192 1,131 Total MA 2,406 2,079 1,954 Total MCO $ 6,218 $ 5,371 $ 4,829 The following tables summarize the split between transaction and recurring 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 recurring 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 recurring revenue represents subscription-based revenues. In the MA segment, recurring 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, and training and certification services. Year Ended December 31, 2021 2020 2019 Transaction Recurring Total Transaction Recurring Total Transaction Recurring Total Corporate Finance $ 1,600 $ 487 $ 2,087 $ 1,401 $ 456 $ 1,857 $ 1,057 $ 440 $ 1,497 77 % 23 % 100 % 75 % 25 % 100 % 71 % 29 % 100 % Financial Institutions $ 320 $ 282 $ 602 $ 265 $ 265 $ 530 $ 212 $ 264 $ 476 53 % 47 % 100 % 50 % 50 % 100 % 45 % 55 % 100 % Public, Project and Infrastructure Finance $ 354 $ 167 $ 521 $ 337 $ 159 $ 496 $ 292 $ 154 $ 446 68 % 32 % 100 % 68 % 32 % 100 % 65 % 35 % 100 % Structured Finance $ 362 $ 198 $ 560 $ 175 $ 187 $ 362 $ 246 $ 181 $ 427 65 % 35 % 100 % 48 % 52 % 100 % 58 % 42 % 100 % MIS Other $ 4 $ 38 $ 42 $ 4 $ 43 $ 47 $ 2 $ 27 $ 29 10 % 90 % 100 % 9 % 91 % 100 % 7 % 93 % 100 % Total MIS $ 2,640 $ 1,172 $ 3,812 $ 2,182 $ 1,110 $ 3,292 $ 1,809 $ 1,066 $ 2,875 69 % 31 % 100 % 66 % 34 % 100 % 63 % 37 % 100 % Research, data and analytics $ 91 $ 1,654 $ 1,745 $ 80 $ 1,434 $ 1,514 $ 16 $ 1,257 $ 1,273 5 % 95 % 100 % 5 % 95 % 100 % 1 % 99 % 100 % Enterprise risk solutions $ 79 $ 582 $ 661 $ 117 $ 448 $ 565 $ 118 $ 404 $ 522 12 % 88 % 100 % 21 % 79 % 100 % 23 % 77 % 100 % Professional services (1) $ — $ — $ — $ — $ — $ — $ 159 $ — $ 159 — % — % — % — % — % — % 100 % — % 100 % Total MA $ 170 $ 2,236 $ 2,406 $ 197 $ 1,882 $ 2,079 $ 293 $ 1,661 $ 1,954 7 % 93 % 100 % 9 % 91 % 100 % 15 % 85 % 100 % Total Moody’s Corporation $ 2,810 $ 3,408 $ 6,218 $ 2,379 $ 2,992 $ 5,371 $ 2,102 $ 2,727 $ 4,829 45 % 55 % 100 % 44 % 56 % 100 % 44 % 56 % 100 % (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 timing of revenue recognition: Year Ended December 31, 2021 Year Ended December 31, 2020 Year Ended December 31, 2019 MIS MA Total MIS MA Total MIS MA Total Revenue recognized at a point in time $ 2,640 $ 101 $ 2,741 $ 2,182 $ 121 $ 2,303 $ 1,809 $ 132 $ 1,941 Revenue recognized over time 1,172 2,305 3,477 1,110 1,958 3,068 1,066 1,822 2,888 Total $ 3,812 $ 2,406 $ 6,218 $ 3,292 $ 2,079 $ 5,371 $ 2,875 $ 1,954 $ 4,829 Unbilled Receivables, Deferred Revenue and Remaining Performance Obligations Unbilled receivables At December 31, 2021 and December 31, 2020, accounts receivable included approximately $386 million and $361 million, respectively, of unbilled receivables related to the MIS segment. Certain MIS arrangements contain contractual terms whereby the customers are billed in arrears for annual monitoring services and rating fees, 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 December 31, 2021 and December 31, 2020, accounts receivable included approximately $152 million and $98 million, respectively, of unbilled receivables related to the MA segment. The increase in unbilled receivables is driven by organic growth and the integration of recent acquisitions. Deferred revenue The Company recognizes deferred revenue when a contract requires a customer to pay consideration to the Company in advance of when revenue 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 year ended December 31, 2021 are as follows: Year Ended December 31, 2021 MIS MA Total Balance at December 31, 2020 $ 313 $ 874 $ 1,187 Changes in deferred revenue Revenue recognized that was included in the deferred revenue balance at the beginning of the period (220) (810) (1,030) Increases due to amounts billable excluding amounts recognized as revenue during the period 207 884 1,091 Increases due to acquisitions during the period — 94 94 Effect of exchange rate changes (4) (3) (7) Total changes in deferred revenue (17) 165 148 Balance at December 31, 2021 $ 296 $ 1,039 $ 1,335 Deferred revenue - current $ 214 $ 1,035 $ 1,249 Deferred revenue - noncurrent $ 82 $ 4 $ 86 For the MA segment, for the year ended December 31, 2021, the increase in the deferred revenue balance was primarily due to acquisitions (Cortera, RMS, and PassFort) and organic growth. Significant changes in the deferred revenue balances during the year ended December 31, 2020 are as follows: Year Ended December 31, 2020 MIS MA Total Balance at December 31, 2019 $ 322 $ 840 $ 1,162 Changes in deferred revenue Revenue recognized that was included in the deferred revenue balance at the beginning of the period (229) (800) (1,029) Increases due to amounts billable excluding amounts recognized as revenue during the period 215 792 1,007 Increases due to acquisitions during the period — 24 24 Effect of exchange rate changes 5 18 23 Total changes in deferred revenue (9) 34 25 Balance at December 31, 2020 $ 313 $ 874 $ 1,187 Deferred revenue—current $ 216 $ 873 $ 1,089 Deferred revenue—noncurrent $ 97 $ 1 $ 98 For the MA segment, for the year ended December 31, 2020, the increase in the deferred revenue balance was primarily due to acquisitions (RDC, Acquire Media, ZMFS, and Catylist) and changes in FX translation rates. Significant changes in the deferred revenue balances during the year ended December 31, 2019 are as follows: Year Ended December 31, 2019 MIS MA Total Balance at December 31, 2018 $ 325 $ 750 $ 1,075 Changes in deferred revenue Revenue recognized that was included in the deferred revenue balance at the beginning of the period (209) (714) (923) Increases due to amounts billable excluding amounts recognized as revenue during the period 202 789 991 Increases due to acquisitions during the period 3 6 9 Effect of exchange rate changes 1 9 10 Total changes in deferred revenue (3) 90 87 Balance at December 31, 2019 $ 322 $ 840 $ 1,162 Deferred revenue—current $ 214 $ 836 $ 1,050 Deferred revenue—noncurrent $ 108 $ 4 $ 112 For the MA segment, for the year ended December 31, 2019, the increase in the deferred revenue balance was primarily due to organic growth. 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 December 31, 2021, the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $112 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 of unsatisfied performance obligations relating to contracts with an original expected length of one year or less. Remaining performance obligations in the MA segment include both amounts recorded as deferred revenue on the balance sheet as of December 31, 2021 as well as amounts not yet invoiced to customers as of December 31, 2021 largely reflecting future revenue related to signed multi-year arrangements for hosted and installed subscription-based products. As of December 31, 2021, the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $3.0 billion. The Company expects to recognize into revenue approximately 65% of this balance within one year, approximately 25% of this balance between one to two years and the remaining amount thereafter. Costs to Obtain or Fulfill a Contract with a Customer MA Costs to Obtain a Contract with a Customer As of December 31, 2021 2020 Capitalized costs to obtain sales contracts $ 183 $ 180 Year ended December 31, 2021 2020 2019 Amortization of capitalized costs to obtain sales contracts $ 60 $ 59 $ 53 Amortization of costs incurred to obtain customer contracts is included within SG&A expenses in the consolidated statements of operations. Costs incurred to obtain customer contracts are only in the MA segment. MIS and MA Costs to Fulfill a Contract with a Customer As of December 31, 2021 As of December 31, 2020 MIS MA Total MIS MA Total Capitalized costs to fulfill sales contracts $ 14 $ 44 $ 58 $ 12 $ 35 $ 47 Year Ended Year Ended Year Ended MIS MA Total MIS MA Total MIS MA Total Amortization of capitalized costs to fulfill sales contracts $ 48 $ 76 $ 124 $ 47 $ 66 $ 113 $ 42 $ 56 $ 98

RECONCILIATION OF WEIGHTED AVER

RECONCILIATION OF WEIGHTED AVERAGE SHARES OUTSTANDING	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
RECONCILIATION OF WEIGHTED AVERAGE SHARES OUTSTANDING	RECONCILIATION OF WEIGHTED AVERAGE SHARES OUTSTANDING Below is a reconciliation of basic to diluted shares outstanding: Year Ended December 31, 2021 2020 2019 Basic 186.4 187.6 189.3 Dilutive effect of shares issuable under stock-based compensation plans 1.5 1.7 2.3 Diluted 187.9 189.3 191.6 Antidilutive options to purchase common shares and restricted stock as well as contingently issuable restricted stock which are excluded from the table above 0.2 0.2 0.2

ACCELERATED SHARE REPURCHASE PR

ACCELERATED SHARE REPURCHASE PROGRAM	12 Months Ended
	Dec. 31, 2021
Other Liabilities Disclosure [Abstract]
Accelerated Share Repurchase	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/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	12 Months Ended
	Dec. 31, 2021
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 December 31, 2021 Cost Gross Unrealized Gains Fair Value Balance sheet location Cash and cash equivalents Short-term investments Other assets Certificates of deposit and money market deposit accounts (1) $ 691 $ — $ 691 $ 584 $ 91 $ 16 Mutual funds $ 65 $ 8 $ 73 $ — $ — $ 73 As of December 31, 2020 Cost Gross Unrealized Gains Fair Value Balance sheet location Cash and cash equivalents Short-term investments Other assets Certificates of deposit and money market deposit accounts (1) $ 1,430 $ — $ 1,430 $ 1,325 $ 99 $ 6 Mutual funds $ 54 $ 6 $ 60 $ — $ — $ 60 (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 In addition, the Company invested in Corporate-Owned Life Insurance (COLI) in the first quarter of 2020. As of December 31, 2021 and December 31, 2020, the contract value of the COLI was $37 million and $17 million, respectively.

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	12 Months Ended
	Dec. 31, 2021
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: Interest Rate Swaps Designated as Fair Value Hedges 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 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 statements of operations. The following table summarizes the Company’s interest rate swaps designated as fair value hedges: Nature of Swap Notional Amount Floating Interest Rate Hedged Item 2021 2020 2012 Senior Notes due 2022 (1) Pay Floating/Receive Fixed $ — $ 330 3-month LIBOR 2017 Senior Notes due 2023 Pay Floating/Receive Fixed $ 250 $ 250 3-month LIBOR 2017 Senior Notes due 2028 Pay Floating/Receive Fixed $ 500 $ 500 3-month LIBOR 2020 Senior Notes due 2025 Pay Floating/Receive Fixed $ 300 $ 300 6-month LIBOR 2014 Senior Notes due 2044 (2) Pay Floating/Receive Fixed $ 300 $ — 3-month LIBOR 2018 Senior Notes due 2048 (2) Pay Floating/Receive Fixed $ 300 $ — 3-month LIBOR Total $ 1,650 $ 1,380 (1) Terminated in conjunction with the repayment of the 2012 Senior Notes due 2022 in the fourth quarter of 2021. (2) Executed in the third quarter of 2021. Refer to Note 18 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 statements 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 (Expense) Year Ended December 31, 2021 2020 2019 Interest expense, net $ (171) $ (205) $ (208) Descriptions Location on Consolidated Statements of Operations Net interest settlements and accruals on interest rate swaps Interest expense, net $ 23 $ 19 $ 3 Fair value changes on interest rate swaps Interest expense, net $ (60) $ 47 $ 25 Fair value changes on hedged debt Interest expense, net $ 60 $ (47) $ (25) Net Investment Hedges Debt designated as 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. Cross currency swaps designated as net investment hedges 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: December 31, 2021 Pay Receive Nature of Swap Notional Amount Weighted Average Interest Rate Notional Amount Weighted Average Interest Rate Pay Fixed/Receive Fixed € 909 2.16% $ 1,050 4.45% Pay Floating/Receive Floating 1,179 Based on 3-month EURIBOR 1,350 Based on 3-month USD LIBOR Total € 2,088 $ 2,400 December 31, 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 As of December 31, 2021, these hedges will expire and the notional amounts will be settled as follows unless terminated early at the discretion of the Company: Year Ending December 31, 2023 € 442 2024 € 443 2026 € 450 2027 € 246 2028 € 507 Total € 2,088 Forward contracts designated as net investment hedges The Company also entered into forward contracts to mitigate FX exposure related to a portion of the Company’s euro and GBP net investment in certain foreign subsidiaries against changes in euro/USD and GBP/euro exchange rates. The following table summarizes the notional amounts of the Company's outstanding forward contracts that were designated as net investment hedges: December 31, 2021 December 31, 2020 Notional amount of net investment hedges Sell Buy Sell Buy Contract to sell EUR for USD € — $ — € 524 $ 627 Contract to sell GBP for EUR £ — € — £ 134 € 148 These forward contracts expired in August 2021. Cash Flow Hedges 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 table provides information on the gains/(losses) on the Company’s net investment and cash flow hedges: Amount of Gain/(Loss) Amount of Gain/(Loss) Gain/(Loss) Recognized in Derivative and Non-Derivative Instruments in Net Investment Hedging Relationships Year Ended December 31, Year Ended December 31, Year Ended December 31, 2021 2020 2019 2021 2020 2019 2021 2020 2019 FX forward contracts $ 18 $ (14) $ 4 $ 1 $ — $ 2 $ — $ — $ — Cross currency swaps 143 (165) 29 — — — 35 50 52 Long-term debt 81 (95) (7) (1) — — — — — — Total net investment hedges $ 242 $ (274) $ 26 $ 1 $ — $ 2 $ 35 $ 50 $ 52 Derivatives in Cash Flow Hedging Relationships Interest rate contracts — (51) — (2) (2) — — — — Total cash flow hedges — (51) — (2) (2) — — — — Total $ 242 $ (325) $ 26 $ (1) $ (2) $ 2 $ 35 $ 50 $ 52 (1) Due to the Company's adoption of ASU 2018-02 during 2019, $3 million related to the tax effect of this net investment hedge was reclassified to retained earnings. 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 December 31, 2021 December 31, 2020 Net investment hedges FX forwards $ 29 $ 12 Cross currency swaps 19 (124) Long-term debt (27) (108) Total net investment hedges 21 (220) Cash flow hedges Interest rate contracts (49) (51) Cross-currency swap 2 2 Total cash flow hedges (47) (49) Total net (loss) gain in AOCL $ (26) $ (269) 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 (expense) 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 April 2022. The following table summarizes the notional amounts of the Company’s outstanding foreign exchange forwards: December 31, 2021 December 31, 2020 Notional Amount of Currency Pair: Sell Buy Sell Buy Contracts to sell USD for GBP $ 126 £ 92 $ 295 £ 222 Contracts to sell USD for Japanese Yen $ 22 ¥ 2,500 $ 15 ¥ 1,600 Contracts to sell USD for Canadian dollars $ 120 C$ 150 $ 107 C$ 140 Contracts to sell USD for Singapore dollars $ 67 S$ 90 $ 59 S$ 79 Contracts to sell USD for Euros $ 364 € 315 $ 447 € 376 Contracts to sell Euros for GBP € — £ — € 135 £ 121 Contracts to sell USD for Russian Ruble $ 16 ₽ 1,200 $ 13 ₽ 1,000 Contracts to sell USD for Indian Rupee $ 7 ₹ 500 $ 18 ₹ 1,350 Contracts to sell GBP for USD £ 172 $ 231 £ — $ — NOTE: € = Euro, £ = British pound, S$ = Singapore dollar, $ = U.S. dollar, ¥ = Japanese yen, C$ = Canadian dollar, ₽ = Russian Ruble, ₹= Indian Rupee The following table summarizes the impact to the consolidated statements of operations relating to the net gain (loss) on the Company’s derivatives which are not designated as hedging instruments: Year Ended December 31, Derivatives Not Designated as Accounting Hedges Location on Statement of Operations 2021 2020 2019 FX forwards Other non-operating expense, net $ (27) $ 41 $ (11) Foreign exchange forwards relating to RMS acquisition (1) Other non-operating income, net $ (13) $ — $ — (1) The Company entered into forward contracts to sell $1,675 million for €1,200 to hedge a portion of the GBP denominated RMS purchase price. The contract was terminated on September 14, 2021 and resulted in a $13 million loss. The table below shows the classification between assets and liabilities on the Company’s consolidated balance sheets for the fair value of derivative instruments 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 December 31, 2021 December 31, 2020 Assets: Derivatives designated as accounting hedges: Cross-currency swaps designated as net investment hedges Other assets $ 53 $ — Interest rate swaps designated as fair value hedges Other assets 13 57 Total derivatives designated as accounting hedges 66 57 Derivatives not designated as accounting hedges: FX forwards on certain assets and liabilities Other current assets 1 31 Total assets $ 67 $ 88 Liabilities: Derivatives designated as accounting hedges: FX forwards designated as net investment hedges Accounts payable and accrued liabilities $ — $ 16 Cross-currency swaps designated as net investment hedges Accounts payable and accrued liabilities — 23 Cross-currency swaps designated as net investment hedges Other liabilities 17 144 Interest rate swaps designated as fair value hedges Other liabilities 23 1 Total derivatives designated as accounting hedges 40 184 Non-derivative instruments designated as accounting hedge: Long-term debt designated as net investment hedge Long-term debt 1,421 1,530 Derivatives not designated as accounting hedges: FX forwards on certain assets and liabilities Accounts payable and accrued liabilities 12 2 Total liabilities $ 1,473 $ 1,716

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT, NET	PROPERTY AND EQUIPMENT, NET Property and equipment, net consisted of: December 31, 2021 2020 Office and computer equipment (3 - 10 year estimated useful life) $ 300 $ 260 Office furniture and fixtures (3 - 10 year estimated useful life) 52 49 Internal-use computer software (1 - 10 year estimated useful life) 771 666 Leasehold improvements and building (1 - 20 year estimated useful life) 234 231 Total property and equipment, at cost 1,357 1,206 Less: accumulated depreciation and amortization (1,010) (928) Total property and equipment, net $ 347 $ 278 Depreciation and amortization expense related to the above assets was $99 million, $96 million, and $97 million for the years ended December 31, 2021, 2020 and 2019, respectively.

ACQUISITIONS AND DIVESTITURE

ACQUISITIONS AND DIVESTITURE	12 Months Ended
	Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS AND DIVESTITURE	ACQUISITIONS AND DIVESTITURE The following is a discussion of material acquisitions completed by the Company. 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. With the exception of RMS, the Company has not presented pro forma combined results for these acquisitions because the impact on previously reported statements of operations would not have been material. PassFort On November 30, 2021, the Company acquired 100% of PassFort, a U.K. SaaS-based workflow platform for identity verification, customer onboarding, and risk analysis. The table below details the total consideration relating to the acquisition: Cash paid at closing $ 157 Additional consideration to be paid to sellers in 2022 (1) 1 Total consideration $ 158 (1) Represents additional consideration to be 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: Cash $ 10 Accounts receivable 1 Intangible assets: Product technology (5 year useful life) $ 14 Customer relationships (16 year useful life) 8 Trade name (4 year useful life) 1 Total intangible assets (9 year weighted average useful life) 23 Goodwill 138 Liabilities: Accounts payable and accrued liabilities $ (7) Deferred revenue (1) Deferred tax liabilities (6) Total liabilities (14) Net assets acquired $ 158 The Company has performed a preliminary valuation analysis of the fair market value of the assets and liabilities of the PassFort 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 deferred tax liabilities. The estimated useful lives of acquired intangible assets are also preliminary. Goodwill The goodwill recognized as a result of this acquisition includes, among other things, value created by combining the complementary risk assessment products of the Company and PassFort. The integration of PassFort’s platform into Moody’s suite of KYC and compliance offerings is expected to create a holistic workflow solution to benefit both new and existing Moody's customers. Goodwill, which has been assigned to the MA segment, is not deductible for tax purposes. Transaction costs Transaction costs directly related to the PassFort acquisition were not material. RMS On September 15, 2021, the Company acquired 100% of RMS, a global provider of climate and natural disaster risk modeling and analytics. The cash payment was funded with new debt financing and a combination of U.S. and offshore cash on hand. The acquisition will expand Moody’s insurance data and analytics business and accelerate the development of the Company’s global integrated risk capabilities to address the next generation of risk assessment. The table below details the total consideration relating to the acquisition: Cash paid at closing $ 1,922 Replacement equity compensation awards 5 Total consideration $ 1,927 Shown below is the preliminary purchase price allocation, which summarizes the fair value of the assets and liabilities assumed, at the date of acquisition: Cash $ 60 Accounts receivable 38 Other current assets 11 Property and equipment 13 Operating lease right-of-use assets 64 Intangible assets: Customer relationships (23 year useful life) $ 518 Product technology (7 year useful life) 212 Trade name (9 year useful life) 49 Total intangible assets (18 year weighted average useful life) 779 Goodwill 1,376 Deferred tax assets, net 48 Other assets 99 Liabilities: Accounts payable and accrued liabilities $ (92) Deferred revenue (89) Operating lease liabilities (68) Deferred tax liabilities, net (214) Uncertain tax positions (96) Other liabilities (2) Total liabilities (561) Net assets acquired $ 1,927 The Company has performed a preliminary valuation analysis of the fair market value of the assets and liabilities of the RMS business. The final purchase price allocation will be determined when the Company has completed and fully reviewed all information necessary to finalize the fair value of the acquired assets and liabilities, including deferred revenue. The final allocation could differ materially from the preliminary allocation and may include changes in allocations to acquired intangible assets (including estimated useful lives of these assets), as well as goodwill and other changes to assets and liabilities including reserves for UTPs and deferred tax liabilities. Goodwill The goodwill recognized as a result of this acquisition includes, among other things, the value of combining the complementary product portfolios of Moody's and RMS, which is expected to extend the Company's reach into new market segments. The goodwill also includes the combined company's ability to accelerate technology innovations into new product adjacencies (leveraging RMS's team of data scientists, modelers and software engineers) as well as combining RMS's products with Moody’s core data and analytics offerings to provide holistic integrated risk solutions. Goodwill, of which $1,286 million and $90 million has been assigned to the MA and MIS segments, respectively, is not deductible for tax purposes. The amount of goodwill allocated to the MIS segment relates to the integration of certain of RMS's models/processes into the Company's ESG solutions offerings. Other assets in the table above includes an indemnification asset of $95 million related to uncertain tax positions assumed in the transaction, for which the Company expects to be indemnified by the sellers in the event of an unfavorable outcome. Transaction costs Transaction costs directly related to the RMS acquisition were $22 million and were recorded in SG&A expenses in the statement of operations. Supplementary Unaudited Pro Forma Information Supplemental information on an unaudited pro forma basis is presented below for the twelve months ended December 31, 2021 and 2020 as if the acquisition of RMS occurred on January 1, 2020. The pro forma financial information is presented for comparative purposes only, based on certain estimates and assumptions, which the Company believes to be reasonable but not necessarily indicative of future results of operations or the results that would have been reported if the acquisition had been completed at January 1, 2020. The unaudited pro forma information includes amortization of acquired intangible assets, based on the preliminary purchase price allocation and an estimate of useful lives reflected above, and incremental financing costs resulting from the acquisition, net of income tax, which was estimated using the weighted average statutory tax rates in effect in the jurisdiction for which the pro forma adjustment relates. Year Ended December 31, Unaudited 2021 2020 Pro forma Revenue $ 6,463 $ 5,667 Pro forma Net Income attributable to Moody's $ 2,244 $ 1,666 The unaudited pro forma results do not include any anticipated cost savings or other effects of the planned integration of RMS. Accordingly, the pro forma results above are not necessarily indicative of the results that would have been reported if the acquisition had occurred on the dates indicated, nor are the pro forma results indicative of results which may occur in the future. The RMS results included in the above have been converted to U.S. GAAP from IFRS as issued by the IASB and have been translated to USD at rates in effect for the periods presented. The RMS amounts in the pro forma results include an addition to revenue of approximately $18 million and a reduction to revenue of approximately $22 million relating to a fair value adjustment to deferred revenue required as part of acquisition accounting for the years ended December 31, 2021 and 2020, respectively. Cortera On March 19, 2021, the Company acquired 100% of Cortera, a provider of North American credit data and workflow solutions. The table below details the total consideration relating to the acquisition: Cash paid at closing $ 138 Additional consideration paid to sellers in 2021 (1) 1 Total consideration $ 139 (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: Current assets $ 7 Intangible assets: Database (10 year useful life) $ 38 Customer relationships (18 year useful life) 9 Product technology (8 year useful life) 9 Trade name (5 year useful life) 1 Total intangible assets (11 year weighted average useful life) 57 Goodwill (1) 79 Deferred tax assets (1) 16 Other assets 2 Liabilities: Accounts payable and accrued liabilities $ (1) Deferred revenue (4) Deferred tax liabilities (15) Other liabilities (2) Total liabilities (22) Net assets acquired $ 139 (1) During the third quarter of 2021, the Company received further information, that existed as of the acquisition date, with respect to Cortera’s deferred taxes. Accordingly, the Company recorded a measurement period adjustment of $16 million to its preliminary estimate for deferred tax assets. Current assets in the table above include acquired cash of $4 million and accounts receivable of approximately $2 million. Goodwill The goodwill recognized as a result of this acquisition includes, among other things, the value of combining the complementary risk assessment products of the Company and Cortera, 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. Transaction costs Transaction costs directly related to the Cortera acquisition were not material. 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 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 useful life) $ 174 Database (10 year useful life) 86 Product technology (4 year useful life) 17 Trade name (3 year useful 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 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. Transaction costs Transaction costs directly related to the RDC acquisition were not material. Other Acquisitions During the fourth quarter of 2020, the Company acquired three additional businesses within the MA reportable segment, which were not individually material, but are material in aggregate, to Moody's consolidated financial statements: – In December 2020, the Company acquired 100% of Catylist, Inc., a provider of commercial real estate solutions for brokers. Catylist revenue is reported in the RD&A LOB. – In December 2020, the Company acquired 100% of ZM Financial Systems, a provider of financial management software for the U.S. banking sector. ZMFS revenue is reported in the ERS LOB. – In October 2020, the Company acquired 100% of Acquire Media, an aggregator and distributor of curated real-time news, multimedia, data, and alerts. AM revenue is reported in the RD&A LOB. The aggregate consideration transferred for the aforementioned acquisitions of $205 million was funded by cash on hand. The following table summarizes the aggregate fair value of the assets acquired and liabilities assumed as of the respective closing dates for each acquisition. (Amounts in millions) Current assets $ 5 Intangible assets: Customer relationships (18 year useful life) $ 47 Product technology (8 year useful life) 23 Database (10 year useful life) 8 Trade name (14 year useful life) 4 Total intangible assets (14 year weighted average life) 82 Goodwill 131 Other assets 3 Liabilities: Current liabilities $ (8) Long-term liabilities (8) Total liabilities (16) Net assets acquired $ 205 Divestiture On November 8, 2019, the Company completed the sale of MAKS to Equistone Partners Europe Limited (Equistone), a European private equity firm for $227 million in net cash proceeds.

GOODWILL AND OTHER ACQUIRED INT

GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2021
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: Year Ended December 31, 2021 MIS MA Consolidated Gross Accumulated Net Gross Accumulated Net Gross Accumulated Net Balance at beginning of year $ 311 $ — $ 311 $ 4,257 $ (12) $ 4,245 $ 4,568 $ (12) $ 4,556 Additions/ adjustments (1) 90 — 90 1,525 — 1,525 1,615 — 1,615 Foreign currency translation adjustments (5) — (5) (167) — (167) (172) — (172) Ending Balance $ 396 $ — $ 396 $ 5,615 $ (12) $ 5,603 $ 6,011 $ (12) $ 5,999 Year Ended December 31, 2020 MIS MA Consolidated Gross Accumulated Net Gross Accumulated Net Gross Accumulated Net Balance at beginning of year $ 315 $ — $ 315 $ 3,419 $ (12) $ 3,407 $ 3,734 $ (12) $ 3,722 Additions/ adjustments (2) (2) — (2) 628 — 628 626 — 626 Foreign currency translation adjustments (2) — (2) 210 — 210 208 — 208 Ending balance $ 311 $ — $ 311 $ 4,257 $ (12) $ 4,245 $ 4,568 $ (12) $ 4,556 (1) The 2021 additions/adjustments for the MA segment in the table above relate to the acquisitions of Cortera, RMS, RealXData, Bogard, and PassFort. The 2021 additions/adjustments for the MIS segment relate to certain revenue synergies from the RMS acquisition that are expected to benefit the ESG solutions group within the MIS Other LOB. (2) The 2020 additions/adjustments for the MA segment in the table above relate to the acquisitions of RDC, AM, ZMFS, and Catylist. Acquired intangible assets and related accumulated amortization consisted of: December 31, 2021 2020 Customer relationships $ 2,101 $ 1,623 Accumulated amortization (381) (313) Net customer relationships 1,720 1,310 Software/product technology 663 441 Accumulated amortization (219) (177) Net software/product technology 444 264 Database 179 144 Accumulated amortization (46) (29) Net database 133 115 Trade names 207 161 Accumulated amortization (47) (38) Net trade names 160 123 Other (1) 54 55 Accumulated amortization (44) (43) Net other 10 12 Total $ 2,467 $ 1,824 (1) Other intangible assets primarily consist of trade secrets, covenants not to compete, and acquired ratings methodologies and models. Amortization expense relating to acquired intangible assets is as follows: Year Ended December 31, 2021 2020 2019 Amortization expense $ 158 $ 124 $ 103 Estimated future annual amortization expense for intangible assets subject to amortization is as follows: Year Ending December 31, 2022 $ 191 2023 189 2024 185 2025 180 2026 177 Thereafter 1,545 Total estimated future amortization $ 2,467 Matters concerning the ICRA reporting unit ICRA has reported various matters relating to: (i) an adjudication order and fine imposed (and subsequently enhanced) by the Securities and Exchange Board of India (SEBI) in connection with credit ratings assigned to one of ICRA’s customers and the customer’s subsidiaries, which are being appealed by ICRA; (ii) the completion of internal examinations regarding various anonymous complaints, and actions taken by ICRA’s board based on the examinations’ findings; and (iii) a separate internal examination of certain allegations against two former senior ICRA officials. An unfavorable resolution of the aforementioned 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	12 Months Ended
	Dec. 31, 2021
Restructuring and Related Activities [Abstract]
RESTRUCTURING	RESTRUCTURING On December 22, 2020, the chief executive officer of Moody’s approved a restructuring program (the “2020 MA Strategic Reorganization Restructuring Program”) that the Company estimates will result in annualized savings of $20 million per year. This program relates to a strategic reorganization in the MA reportable segment consisting of severance and related costs primarily determined under the Company’s existing severance plans. The 2020 MA Strategic Reorganization Restructuring Program resulted in a total of $20 million in pre-tax charges and was substantially completed in the first half of 2021. Cash outlays associated with this program are expected to be $20 million, which will be paid through 2022. On July 29, 2020, the chief executive officer of Moody’s approved a restructuring program (the “2020 Real Estate Rationalization Restructuring Program”) primarily in response to the COVID-19 pandemic which revolved 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 was substantially completed at December 31, 2020. The 2020 Real Estate Rationalization Restructuring Program primarily reflected non-cash charges related to the impairment of operating lease right-of-use assets and leasehold improvements. 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, was substantially completed at December 31, 2020. 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 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 $55 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 were $55 million. Total expenses included in the accompanying consolidated statements of operations relating to the Company's restructuring programs are as follows: Year Ended December 31, 2021 2020 2019 2018 Restructuring Program $ (2) $ (4) $ 60 2020 Real Estate Rationalization Restructuring Program — 36 — 2020 MA Strategic Reorganization Restructuring Program 2 18 — Total Restructuring $ — $ 50 $ 60 Cumulative expense incurred through December 31, 2021 Employee Termination Costs Contract Termination Costs 2018 Restructuring Program $ 55 $ 48 2020 Real Estate Rationalization Restructuring Program: $ — $ 36 2020 MA Strategic Reorganization Restructuring Program: $ 20 $ — The restructuring liability for the aforementioned plans was not material at December 31, 2021, December 31, 2020, and December 31, 2019.

FAIR VALUE

FAIR VALUE	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE	FAIR VALUE The table below presents information about items which are carried at fair value on a recurring basis at December 31, 2021 and 2020: Fair value Measurement as of December 31, 2021 Description Balance Level 1 Level 2 Assets: Derivatives (1) $ 67 $ — $ 67 Mutual funds 73 73 — Total $ 140 $ 73 $ 67 Liabilities: Derivatives (1) $ 52 $ — $ 52 Total $ 52 $ — $ 52 Fair Value Measurement as of December 31, 2020 Description Balance Level 1 Level 2 Assets: Derivatives (1) $ 88 $ — $ 88 Mutual funds 60 60 — Total $ 148 $ 60 $ 88 Liabilities: Derivatives (1) $ 186 $ — $ 186 Total $ 186 $ — $ 186 (1) Represents FX forwards on certain assets and liabilities as well as interest rate swaps and cross-currency swaps as more fully described in Note 7 to the consolidated financial statements. The following are descriptions of the methodologies utilized by the Company to estimate the fair value of its derivative contracts and 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: 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 INFORMATION

OTHER BALANCE SHEET INFORMATION	12 Months Ended
	Dec. 31, 2021
Other Balance Sheet Information [Abstract]
OTHER BALANCE SHEET INFORMATION	OTHER BALANCE SHEET INFORMATION The following tables contain additional detail related to certain balance sheet captions: December 31, 2021 2020 Other current assets: Prepaid taxes $ 112 $ 94 Prepaid expenses 99 91 Capitalized costs to obtain and fulfill sales contracts 103 93 Foreign exchange forwards on certain assets and liabilities 1 31 Other 74 74 Total other current assets $ 389 $ 383 December 31, 2021 2020 Other assets: Investments in non-consolidated affiliates $ 443 $ 135 Deposits for real-estate leases 14 19 Indemnification assets related to acquisitions 106 15 Mutual funds and fixed deposits 89 66 Company owned life insurance (at contract value) 37 17 Costs to obtain sales contracts 138 134 Derivative instruments designated as accounting hedges 66 57 Pension and other retirement employee benefits 77 21 Other 64 51 Total other assets $ 1,034 $ 515 December 31, 2021 2020 Accounts payable and accrued liabilities: Salaries and benefits $ 211 $ 197 Incentive compensation 324 226 Customer credits, advanced payments and advanced billings 100 42 Dividends 6 11 Professional service fees 75 53 Interest accrued on debt 85 82 Accounts payable 47 39 Income taxes 115 128 Pension and other retirement employee benefits 7 45 Accrued royalties 36 19 Foreign exchange forwards on certain assets and liabilities 12 2 Restructuring liability 4 18 Derivative instruments designated as accounting hedges — 39 Other 120 138 Total accounts payable and accrued liabilities $ 1,142 $ 1,039 December 31, 2021 2020 Other liabilities: Pension and other retirement employee benefits $ 235 $ 244 Interest accrued on UTPs 59 113 MAKS indemnification provisions 33 33 Income tax liability – non-current portion 23 18 Derivative instruments designated as accounting hedges 40 145 Other 48 37 Total other liabilities $ 438 $ 590 The following table provides additional detail regarding Moody's investments in non-consolidated affiliates, as included within other assets in the consolidated balance sheets: December 31, 2021 2020 Investments in non-consolidated affiliates: Equity method investments (1) $ 121 $ 118 Investments measured using the measurement alternative (2) 318 16 Other 4 1 Total investments in non-consolidated affiliates $ 443 $ 135 (1) Equity securities in which the Company has significant influence over the investee but does not have a controlling financial interest in accordance with ASC Topic 323 (2) Equity securities without readily determinable fair value for which the Company has elected to apply the measurement alternative in accordance with ASC Topic 321, which is more fully discussed in Note 2. Moody's holds various investments accounted for under the equity method, the most significant of which is the Company's minority investment in CCXI. Moody's also holds various investments measured using the measurement alternative, the most significant of which is the Company's minority interest in BitSight. Refer to Note 24 for disclosure on earnings from non-consolidated affiliates, which is included within other non-operating income, net.

COMPREHENSIVE INCOME AND ACCUMU

COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME	COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME The following table provides details about the reclassifications out of AOCL: Year Ended December 31, Location in the consolidated 2021 2020 2019 Currency translation adjustment losses Sale of foreign subsidiaries $ — $ — $ (32) Loss pursuant to the divestiture of MAKS Total currency translation adjustment losses — — (32) Losses on cash flow hedges Interest rate contract (2) (3) — Other non-operating income, net Income tax effect of item above — 1 — Provision for income taxes Total net losses on cash flow hedges (2) (2) — Gains on net investment hedges Cross currency swaps — 1 — Other non-operating income, net FX forwards 2 — 3 Other non-operating income, net Total before income taxes 2 1 3 Income tax effect of item above (1) — (1) Provision for income taxes Total net gains on net investment hedges 1 1 2 Pension and other retirement benefits Amortization of actuarial losses and prior service costs included in net income (11) (6) (3) Other non-operating income, net Accelerated recognition of loss due to settlement (8) (2) — Other non-operating income, net Total before income taxes (19) (8) (3) Income tax effect of item above 5 2 1 Provision for income taxes Total pension and other retirement benefits (14) (6) (2) Total net losses included in Net Income attributable to reclassifications out of AOCL $ (15) $ (7) $ (32) The following table shows changes in AOCL by component (net of tax): Year Ended December 31, 2021 Pension and Other Retirement Benefits Gains / (Losses) on Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Balance December 31, 2020 $ (118) $ (49) $ (45) $ (220) $ (432) Other comprehensive income/(loss) before reclassifications 55 — (290) 242 7 Amounts reclassified from AOCL 14 2 — (1) 15 Other comprehensive income/(loss) 69 2 (290) 241 22 Balance December 31, 2021 $ (49) $ (47) $ (335) $ 21 $ (410) Year Ended December 31, 2020 Pension and Other Retirement Benefits Gains / (Losses) on Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Balance December 31, 2019 $ (92) $ — $ (401) $ 54 $ (439) Other comprehensive income/(loss) before reclassifications (32) (51) 356 (273) — Amounts reclassified from AOCL 6 2 — (1) 7 Other comprehensive income/(loss) (26) (49) 356 (274) 7 Balance December 31, 2020 $ (118) $ (49) $ (45) $ (220) $ (432) Year Ended December 31, 2019 Pension and Other Retirement Benefits Gains / (Losses) on Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Balance December 31, 2018 $ (53) $ — $ (406) $ 33 $ (426) Adoption of ASU 2018-02 (17) — — (3) (20) Other comprehensive income/(loss) before reclassifications (24) — (27) 26 (25) Amounts reclassified from AOCL 2 — 32 (2) 32 Other comprehensive income/(loss) (39) — 5 21 (13) Balance December 31, 2019 $ (92) $ — $ (401) $ 54 $ (439)

PENSION AND OTHER RETIREMENT BE

PENSION AND OTHER RETIREMENT BENEFITS	12 Months Ended
	Dec. 31, 2021
Retirement Benefits [Abstract]
PENSION AND OTHER RETIREMENT BENEFITS	PENSION AND OTHER RETIREMENT BENEFITS U.S. Plans Moody’s maintains funded and unfunded noncontributory Defined Benefit Pension Plans ("DBPPs"). The DBPPs provide defined benefits using a cash balance formula based on years of service and career average salary 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”. Through 2007, substantially all U.S. employees were eligible to participate in the Company’s DBPPs. Effective January 1, 2008, the Company no longer offers DBPPs to U.S. employees hired or rehired on or after January 1, 2008 and new hires in the U.S. instead will receive a retirement contribution in similar benefit value under the Company’s Profit Participation Plan. Current participants of the Company’s Retirement Plans and Other Retirement Plans continue to accrue benefits based on existing plan benefit formulas. Following is a summary of changes in benefit obligations and fair value of plan assets for the Retirement Plans for the years ended December 31: Pension Plans Other Retirement Plans 2021 2020 2021 2020 Change in benefit obligation: Benefit obligation, beginning of the period $ (663) $ (589) $ (48) $ (42) Service cost (19) (17) (4) (3) Interest cost (14) (17) (1) (1) Plan participants’ contributions — — (1) (1) Benefits paid 68 22 2 2 Actuarial (loss) gain (6) 6 (3) 2 Assumption changes 64 (68) 7 (5) Benefit obligation, end of the period $ (570) $ (663) $ (48) $ (48) Change in plan assets: Fair value of plan assets, beginning of the period $ 528 $ 395 $ — $ — Actual return on plan assets 34 45 — — Benefits paid (68) (22) (2) (2) Employer contributions 50 110 1 1 Plan participants’ contributions — — 1 1 Fair value of plan assets, end of the period $ 544 $ 528 $ — $ — Funded Status of the plans $ (26) $ (135) $ (48) $ (48) Amounts recorded on the consolidated balance sheets: Pension and retirement benefits asset – non current $ 74 $ 21 $ — $ — Pension and retirement benefits liability – current (5) (44) (1) (1) Pension and retirement benefits liability – non current (95) (112) (47) (47) Net amount recognized $ (26) $ (135) $ (48) $ (48) Accumulated benefit obligation, end of the period $ (524) $ (601) The net decrease in the pension benefit obligation from assumption changes and actuarial losses in 2021 primarily resulted from increases to the discount rates and changes to certain actuarial assumptions, including increased rates of retirement at younger ages. The net increase in the benefit obligation in 2020 primarily resulted from reductions in discount rates, partially offset by a decrease related to lower cash balance conversion interest rates. The following information is for those pension plans with an accumulated benefit obligation in excess of plan assets: December 31, 2021 2020 Aggregate projected benefit obligation $ 101 $ 156 Aggregate accumulated benefit obligation $ 86 $ 138 The following table summarizes the pre-tax net actuarial losses and prior service costs recognized in AOCL for the Company’s Retirement Plans as of December 31: Pension Plans Other Retirement Plans 2021 2020 2021 2020 Net actuarial losses $ (61) $ (144) $ (4) $ (8) Net prior service credits 3 3 — — Total recognized in AOCL – pretax $ (58) $ (141) $ (4) $ (8) Net periodic benefit expenses recognized for the Retirement Plans for years ended December 31: Pension Plans Other Retirement Plans 2021 2020 2019 2021 2020 2019 Components of net periodic expense Service cost $ 19 $ 17 $ 17 $ 4 $ 3 $ 3 Interest cost 14 17 21 1 1 1 Expected return on plan assets (27) (20) (20) — — — Amortization of net actuarial loss and prior service credits from earlier periods 11 7 4 1 — — Loss on settlement of pension obligations 8 2 — — — — Net periodic expense $ 25 $ 23 $ 22 $ 6 $ 4 $ 4 The following table summarizes the pre-tax amounts recorded in OCI related to the Company’s Retirement Plans for the years ended December 31: Pension Plans Other Retirement Plans 2021 2020 2019 2021 2020 2019 Amortization of net actuarial losses and prior service credit $ 11 $ 7 $ 4 $ 1 $ — $ — Settlement loss 8 2 — — — — Net actuarial (loss)/gain arising during the period 65 (37) (24) 4 (3) (6) Total recognized in OCI – pre-tax $ 84 $ (28) $ (20) $ 5 $ (3) $ (6) ADDITIONAL INFORMATION: Assumptions—Retirement Plans Weighted-average assumptions used to determine benefit obligations at December 31: Pension Plans Other Retirement Plans 2021 2020 2021 2020 Discount rate 2.60 % 2.24 % 2.65 % 2.30 % Rate of compensation increase 3.63 % 3.62 % — — Weighted-average assumptions used to determine net periodic benefit expense for years ended December 31: Pension Plans Other Retirement Plans 2021 2020 2019 2021 2020 2019 Discount rate 2.24 % 3.04 % 4.07 % 2.30 % 3.05 % 4.10 % Expected return on plan assets 5.45 % 4.45 % 5.65 % — — — Rate of compensation increase 3.62 % 3.64 % 3.69 % — — — Cash balance plan interest crediting rate 4.50 % 4.50 % 4.50 % — — — The expected rate of return on plan assets represents the Company’s best estimate of the long-term return on plan assets and is determined by using a building block approach, which generally weighs the underlying long-term expected rate of return for each major asset class based on their respective allocation target within the plan portfolio, net of plan paid expenses. As the assumption reflects a long-term time horizon, the plan performance in any one particular year does not, by itself, significantly influence the Company’s evaluation. For 2021, the expected rate of return used in calculating the net periodic benefit costs was 5.45%. For 2022, the Company’s expected rate of return assumption is 5.05% to reflect the Company’s current view of long-term capital market outlook. In addition, the Company has updated its mortality assumption by adopting the newly released mortality improvement scale MP-2021 to accompany the Pri2012 mortality tables to reflect the latest information regarding future mortality expectations by the Society of Actuaries. Plan Assets Moody’s investment objective for the assets in the funded pension plan is to earn total returns that will minimize future contribution requirements over the long-term within a prudent level of risk. The Company works with its independent investment consultants to determine asset allocation targets for its pension plan investment portfolio based on its assessment of business and financial conditions, demographic and actuarial data, funding characteristics, and related risk factors. Other relevant factors, including historical and forward looking views of inflation and capital market returns, are also considered. Risk management practices include monitoring plan asset performance, diversification across asset classes and investment styles and periodic rebalancing toward asset allocation targets. The Company’s Asset Management Committee is responsible for overseeing the investment activities of the plan, which includes selecting acceptable asset classes, defining allowable ranges of holdings by asset class and by individual investment managers, defining acceptable securities within each asset class, and establishing investment performance expectations. Ongoing monitoring of the plan includes reviews of investment performance and managers on a regular basis, annual liability measurements, and periodic asset/liability studies. The Company’s investment policy uses risk-controlled investment strategies by increasing the plan’s asset allocation to fixed income securities and specifying ranges of acceptable target allocation by asset class based on different levels of the plan’s accounting funded status. In addition, the investment policy also requires the investment-grade fixed income assets be rebalanced between shorter and longer duration bonds as the interest rate environment changes. This investment policy is designed to help protect the plan’s funded status and to limit volatility of the Company’s contributions. Based on the policy, the Company’s current target asset allocation is approximately 33% (range of 28% to 38%) in equity securities, 62% (range of 57% to 67%) in fixed income securities and 5% (range of 2% to 8%) in other investments and the plan will use a combination of active and passive investment strategies and different investment styles for its investment portfolios within each asset class. The plan’s equity investments are diversified across U.S. and non-U.S. stocks of small, medium and large capitalization. The plan’s fixed income investments are diversified principally across U.S. and non-U.S. government and corporate bonds, which are expected to help reduce plan exposure to interest rate variation and to better align assets with obligations. The plan also invests in other fixed income investments such as debts rated below investment grade, emerging market debt, and convertible securities. The plan’s other investment, which is made through a private real estate debt fund, is expected to provide additional diversification benefits and absolute return enhancement to the plan assets. Fair value of the assets in the Company’s funded pension plan by asset category at December 31, 2021 and 2020 are as follows: Fair Value Measurement as of December 31, 2021 Asset Category Balance Level 1 Level 2 Measured using NAV practical expedient (1) % of total Cash and cash equivalent $ 4 $ — $ 4 $ — 1 % Common/collective trust funds—equity securities U.S. large-cap 135 — 135 — 25 % U.S. small and mid-cap 23 — 23 — 4 % Emerging markets 27 — 27 — 5 % Total equity investments 185 — 185 — 34 % Emerging markets bond fund 30 — — 30 6 % Common/collective trust funds—fixed income securities Intermediate-term investment grade U.S. government/ corporate bonds 245 — 245 — 45 % Mutual funds U.S. Treasury Inflation-Protected Securities (TIPs) 24 24 — — 4 % Convertible securities 17 17 — — 3 % Private investment fund—high yield securities 14 — — 14 3 % Total fixed-income investments 330 41 245 44 61 % Other investment—private real estate fund 25 — — 25 4 % Total Assets $ 544 $ 41 $ 434 $ 69 100 % Fair Value Measurement as of December 31, 2020 Asset Category Balance Level 1 Level 2 Measured using NAV practical expedient (1) % of total Cash and cash equivalent $ 4 $ — $ 4 $ — 1 % Common/collective trust funds—equity securities U.S. large-cap 143 — 143 — 27 % U.S. small and mid-cap 28 — 28 — 5 % Emerging markets 32 — 32 — 6 % Total equity investments 203 — 203 — 38 % Emerging markets bond fund 32 — — 32 6 % Common/collective trust funds—fixed income securities Intermediate-term investment grade U.S. government/ corporate bonds 214 — 214 — 41 % Mutual funds U.S. Treasury Inflation-Protected Securities (TIPs) 23 23 — — 4 % Convertible securities 16 16 — — 3 % Private investment fund—high yield securities 12 — — 12 2 % Total fixed-income investments 297 39 214 44 56 % Other investment—private real estate debt fund 24 — — 24 5 % Total Assets $ 528 $ 39 $ 421 $ 68 100 % (1) Investments are measured using the net asset value per share (or its equivalent) practical expedient and have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit a reconciliation of the fair value hierarchy to the value of the total plan assets. Cash and cash equivalents are primarily comprised of investments in money market mutual funds. In determining fair value, Level 1 investments are valued based on quoted market prices in active markets. Investments in common/collective trust funds are valued using the NAV per unit in each fund. The NAV is based on the value of the underlying investments owned by each trust, minus its liabilities, and then divided by the number of shares outstanding. Common/collective trust funds are categorized in Level 2 to the extent that they are considered to have a readily determinable fair value. Investments for which fair value is estimated by using the NAV per share (or its equivalent) as a practical expedient are not categorized in the fair value hierarchy. Except for the Company’s U.S. funded pension plan, all of Moody’s Retirement Plans are unfunded and therefore have no plan assets. Cash Flows The Company did not contribute to its U.S. funded pension plan during 2021, but contributed $99 million to this plan during the year ended December 31, 2020. The Company made payments of $50 million and $11 million related to its U.S. unfunded pension plan obligations during the years ended December 31, 2021 and 2020, respectively. The Company currently does not anticipate making a contribution to its funded pension plan in 2022, and does not anticipate making payments related to its unfunded U.S. pension plans and other Retirement Plans during the year ended December 31, 2022 that would be material to the Company's financial statements. Estimated Future Benefits Payable Estimated future benefits payments for the Retirement Plans are as follows as of year ended December 31, 2021: Year Ending December 31, Pension Plans Other Retirement Plans 2022 $ 21 $ 1 2023 23 2 2024 32 2 2025 26 2 2026 30 2 2027 - 2031 157 15 Defined Contribution Plans Moody’s has a Profit Participation Plan covering substantially all U.S. employees. The Profit Participation Plan provides for an employee salary deferral and the Company matches employee contributions, equal to 50% of employee contribution up to a maximum of 3% of the employee’s pay. Effective January 1, 2008, all new hires are automatically enrolled in the Profit Participation Plan when they meet eligibility requirements unless they decline participation. As the Company’s U.S. DBPPs are closed to new entrants effective January 1, 2008, all eligible new hires will instead receive a retirement contribution into the Profit Participation Plan in value similar to the pension benefits. Additionally, effective January 1, 2008, the Company implemented a deferred compensation plan in the U.S., which is unfunded and provides for employee deferral of compensation and Company matching contributions related to compensation in excess of the IRS limitations on benefits and contributions under qualified retirement plans. Total expenses associated with U.S. defined contribution plans were $54 million, $44 million and $43 million in the years ended December 31, 2021, 2020, and 2019, respectively. Effective January 1, 2008, Moody’s has designated the Moody’s Stock Fund, an investment option under the Profit Participation Plan, as an Employee Stock Ownership Plan and, as a result, participants in the Moody’s Stock Fund may receive dividends in cash or may reinvest such dividends into the Moody’s Stock Fund. Moody’s paid approximately $1 million during each of the years ended December 31, 2021, 2020 and 2019, respectively, for the Company’s common shares held by the Moody’s Stock Fund. The Company records the dividends as a reduction of retained earnings in the Consolidated Statements of Shareholders’ Equity (Deficit). The Moody’s Stock Fund held approximately 328,500 and 360,600 shares of Moody’s common stock at December 31, 2021 and 2020, respectively. Non-U.S. Plans

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION PLANS	STOCK-BASED COMPENSATION PLANS Under the 1998 Plan, 33.0 million shares of the Company’s common stock have been reserved for issuance. The 2001 Plan, which is shareholder approved, permits the granting of up to 50.6 million shares, of which not more than 14.0 million shares are available for grants of awards other than stock options. The Stock Plans also provide for the granting of restricted stock. The Stock Plans provide that options are exercisable not later than ten years from the grant date. The vesting period for awards under the Stock Plans is generally determined by the Board at the date of the grant and has been four years except for employees who are at or near retirement eligibility, as defined, for which vesting is between one The Company maintains the Directors’ Plan for its Board, which permits the granting of awards in the form of non-qualified stock options, restricted stock or performance shares. The vesting period is determined by the Board at the date of the grant and is generally one year for both options and restricted stock. Under the Directors’ Plan, 1.7 million shares of common stock were reserved for issuance. Any director of the Company who is not an employee of the Company or any of its subsidiaries as of the date that an award is granted is eligible to participate in the Directors’ Plan. On September 15, 2021, the Company acquired RMS, which is discussed in more detail in Note 9. As part of the acquisition, the Company registered the RMS 2014 Equity Award Plan and the RMS 2015 Equity Incentive Plan (collectively, "RMS Plans") as part of the purchase agreement to acquire RMS. Under the RMS Plans, 1.2 million shares of the Company’s common stock have been reserved for issuance. The RMS Plans provide that options are exercisable not later than ten years from the grant date. The vesting period is generally determined by the Board at the date of the grant and is four years for both options and restricted stock granted during 2021. As a result of the acquisition, certain RMS employees' unvested equity awards (employee stock options and restricted stock) with an acquisition-date fair value of $33 million were converted into equity awards of the Company based on an exchange ratio as defined in the purchase agreement. The portion of the fair value of the replacement awards related to services provided prior to the acquisition was $5 million and was accounted for as consideration transferred (See Note 9). The remaining portion of the replacement awards of $28 million, which is associated with a future service requirement, will be recognized as compensation expense over the remaining vesting period. Presented below is a summary of the stock-based compensation expense and associated tax benefit in the accompanying Consolidated Statements of Operations: Year Ended December 31, 2021 2020 2019 Stock-based compensation expense $ 175 $ 154 $ 136 Tax benefit $ 42 $ 30 $ 29 The fair value of each employee stock option award is estimated on the date of grant using the Black-Scholes option-pricing model that uses the assumptions noted below. The expected dividend yield is derived from the annual dividend rate on the date of grant. The expected stock volatility is based on an assessment of historical weekly stock prices of the Company as well as implied volatility from Moody’s traded options. The risk-free interest rate is based on U.S. government zero coupon bonds with maturities similar to the expected holding period. The expected holding period was determined by examining historical and projected post-vesting exercise behavior activity. The following weighted average assumptions were used for options granted (excluding the aforementioned RMS replacement awards): Year Ended December 31, 2021 2020 2019 Expected dividend yield 0.89 % 0.80 % 1.14 % Expected stock volatility 28 % 23 % 24 % Risk-free interest rate 0.82 % 1.43 % 2.56 % Expected holding period -in years 5.6 5.7 6.2 Due to the RMS replacement option awards being heavily in-the-money at the acquisition date, the Company utilized a binomial valuation approach to determine the fair value of the options, which approximated the intrinsic value of the replaced awards at the acquisition date. The following represents the fair value of the options at grant date, including RMS replacement option awards: Year Ended December 31, 2021 2020 2019 Weighted average grant date fair value per share (including RMS replacement option awards) $ 121.14 $ 60.66 $ 43.29 A summary of option activity as of December 31, 2021 and changes during the year then ended is presented below: Options Shares Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding, December 31, 2020 1.0 $ 132.80 Granted (including RMS replacement awards) 0.2 $ 249.99 Exercised (0.2) $ 101.03 Outstanding, December 31, 2021 1.0 $ 166.16 5.8 years $ 224 Vested and expected to vest, December 31, 2021 1.0 $ 165.26 5.7 years $ 221 Exercisable, December 31, 2021 0.6 $ 119.88 4.4 years $ 159 The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between Moody’s closing stock price on the last trading day of the year ended December 31, 2021 and the exercise prices, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options as of December 31, 2021. This amount varies based on the fair value of Moody’s stock. As of December 31, 2021, there was $22 million of total unrecognized compensation expense related to options. The expense is expected to be recognized over a weighted average period of 2.2 years. The following table summarizes information relating to stock option exercises: Year Ended December 31, 2021 2020 2019 Proceeds from stock option exercises $ 24 $ 39 $ 36 Aggregate intrinsic value $ 55 $ 132 $ 114 Tax benefit realized upon exercise $ 13 $ 32 $ 27 A summary of nonvested restricted stock activity for the year ended December 31, 2021 is presented below: Nonvested Restricted Stock Shares Weighted Average Grant Date Fair Value Per Share Balance, December 31, 2020 1.5 $ 201.30 Granted (including RMS replacement awards) 0.7 $ 296.84 Vested (0.7) $ 177.96 Forfeited (0.1) $ 242.12 Balance, December 31, 2021 1.4 $ 253.85 As of December 31, 2021, there was $209 million of total unrecognized compensation expense related to nonvested restricted stock. The expense is expected to be recognized over a weighted average period of 2.6 years. The following table summarizes information relating to the vesting of restricted stock awards: Year Ended December 31, 2021 2020 2019 Fair value of shares vested $ 194 $ 202 $ 156 Tax benefit realized upon vesting $ 46 $ 46 $ 36 A summary of performance-based restricted stock activity for the year ended December 31, 2021 is presented below: Performance-based restricted stock Shares Weighted Average Grant Date Fair Value Per Share Balance, December 31, 2020 0.3 $ 197.19 Granted 0.2 $ 329.71 Vested (0.1) $ 162.06 Balance, December 31, 2021 0.4 $ 266.89 The following table summarizes information relating to the vesting of the Company’s performance-based restricted stock awards: Year Ended December 31, 2021 2020 2019 Fair value of shares vested $ 28 $ 70 $ 47 Tax benefit realized upon vesting $ 7 $ 17 $ 11 As of December 31, 2021, there was $63 million of total unrecognized compensation expense related to this plan. The expense is expected to be recognized over a weighted average period of 2.1 years. The Company has a policy of issuing treasury stock to satisfy shares issued under stock-based compensation plans. In addition, the Company also sponsors the ESPP. Under the ESPP, 6 million shares of common stock were reserved for issuance. The ESPP permits eligible employees to purchase common stock of the Company on a monthly basis at a discount to the average of the high and the low trading prices on the New York Stock Exchange on the last trading day of each month. This discount was 5% in 2021, 2020, and 2019 resulting in the ESPP qualifying for non-compensatory status under Topic 718 of the ASC. Accordingly, no compensation expense was recognized for the ESPP in 2021, 2020, and 2019. The employee purchases are funded through after-tax payroll deductions, which plan participants can elect from one percent to ten percent of compensation, subject to the annual federal limit.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Components of the Company’s income tax provision are as follows: Year Ended December 31, 2021 2020 2019 Current: Federal $ 404 $ 213 $ 179 State and Local 106 68 59 Non-U.S. 249 215 181 Total current 759 496 419 Deferred: Federal (172) 6 (19) State and Local (45) — (3) Non-U.S. (1) (50) (16) Total deferred (218) (44) (38) Total provision for income taxes $ 541 $ 452 $ 381 A reconciliation of the U.S. federal statutory tax rate to the Company’s effective tax rate on income before provision for income taxes is as follows: Year Ended December 31, 2021 2020 2019 U.S. statutory tax rate 21.0 % 21.0 % 21.0 % State and local taxes, net of federal tax benefit 1.5 % 2.3 % 2.2 % Benefit of foreign operations (1.5) % (1.5) % (0.1) % Other (1.4) % (1.5) % (2.1) % Effective tax rate 19.6 % 20.3 % 21.0 % Income tax paid $ 932 $ 514 $ 458 The source of income before provision for income taxes is as follows: Year Ended December 31, 2021 2020 2019 U.S. $ 1,563 $ 1,349 $ 1,039 Non-U.S. 1,192 880 771 Income before provision for income taxes $ 2,755 $ 2,229 $ 1,810 The components of deferred tax assets and liabilities are as follows: December 31, 2021 2020 Deferred tax assets: Account receivable allowances $ 8 $ 9 Accumulated depreciation and amortization 10 2 Stock-based compensation 50 42 Accrued compensation and benefits 101 99 Capitalized costs 33 39 Operating lease liabilities 134 122 Deferred revenue 252 30 Net operating loss 33 17 Restructuring 1 3 Uncertain tax positions 86 98 Self-insured related reserves 10 10 Loss on net investment hedges - OCI 11 93 Other 16 10 Total deferred tax assets 745 574 Deferred tax liabilities: Accumulated depreciation and amortization of intangible assets and capitalized software (659) (468) ROU Assets (102) (90) Capital Gains (31) (23) Self-insured related income (10) (10) Revenue Accounting Standard - ASC 606 (7) (10) Deferred tax on unremitted foreign earnings (12) (16) Gain on net investment hedges - OCI (4) (8) Other (6) (4) Total deferred tax liabilities (831) (629) Net deferred tax liabilities (86) (55) Valuation allowance (18) (15) Total net deferred tax liabilities $ (104) $ (70) On December 22, 2017, the Tax Act was signed into law, which resulted in significant changes to U.S. corporate tax laws. The Tax Act includes a mandatory one-time deemed repatriation tax (“transition tax”) on previously untaxed accumulated earnings of foreign subsidiaries and beginning in 2018 reduces the statutory federal corporate income tax rate from 35% to 21%. Due to the complexities of the Tax Act, the SEC issued guidance requiring that companies provide a reasonable estimate of the impact of the Tax Act to the extent such reasonable estimate has been determined. Accordingly, as of December 31, 2017, the Company recorded a provisional estimate for the transition tax of $247 million. In September, 2018, the Company filed its 2017 federal income tax return and revised its determination of the transition tax to $236 million, a reduction of $11 million from the estimate at December 31, 2017. The revised determination of transition tax may be impacted by a number of additional considerations, including but not limited to the issuance of additional regulations. As a result of the Tax Act, all previously net undistributed foreign earnings have now been subject to U.S. tax. The Company regularly evaluates which entities it will indefinitely reinvest earnings. The Company has provided deferred taxes for those entities whose earnings are not considered indefinitely reinvested. The Company’s annual tax expense for the year ended December 31, 2021 includes Excess Tax Benefits from stock compensation of $31 million, benefits from the resolution of certain UTPs of $70 million and other net decreases to tax positions of $25 million. The Company had valuation allowances of $18 million and $15 million at December 31, 2021 and 2020, respectively, related to foreign net operating losses for which realization is uncertain. As of December 31, 2021, the Company had $388 million of UTPs of which $353 million represents the amount that, if recognized, would impact the effective tax rate in future periods. The decrease in 2021 resulted primarily from the resolutions of uncertain tax positions. The increase in 2020 was primarily due to the additional reserves established for non-U.S. tax exposures. A reconciliation of the beginning and ending amount of UTPs is as follows: Year Ended December 31, 2021 2020 2019 Balance as of January 1 $ 483 $ 477 $ 495 Additions for tax positions related to the current year 102 37 35 Additions for tax positions of prior years 18 17 22 Reductions for tax positions of prior years — (2) (2) Settlements with taxing authorities (134) (5) (1) Lapse of statute of limitations (81) (41) (44) Reclassification to indemnification liability related to MAKS divestiture — — (28) Balance as of December 31 $ 388 $ 483 $ 477 The Company classifies interest related to UTPs in interest expense in its consolidated statements of operations. Penalties are recognized in other non-operating expenses. During the year ended December 31, 2021 the Company accrued net interest income of $21 million related to UTPs. During the years ended December 31, 2020 and 2019 the Company incurred net interest expense of $34 million and $28 million, respectively, related to UTPs. As of December 31, 2021, 2020 and 2019 the amount of accrued interest recorded in the Company’s consolidated balance sheets related to UTPs was $59 million, $113 million and $82 million, respectively. 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 returns for 2017 through 2019 are currently under examination and 2020 remains open to examination. The Company’s New York State tax returns for 2017 through 2018 are currently under examination and New York City tax returns for 2014 through 2017 are currently under examination. After the resolution of a tax audit for 2012, certain of the Company’s U.K. subsidiaries’ returns from 2012 to 2020 remain open to examination. For current ongoing audits related to open tax years, the Company estimates that it is possible that the balance of UTPs could decrease in the next twelve months as a result of the effective 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 might necessitate increases to the balance of UTPs. As the Company is unable to predict the timing of conclusion of these audits, the Company is unable to estimate the amount of changes to the balance of UTPs at this time.

INDEBTEDNESS

INDEBTEDNESS	12 Months Ended
	Dec. 31, 2021
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 certain debt as depicted in the table below, 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: December 31, 2021 Principal Amount Fair Value of Interest Rate Swaps (1) Unamortized (Discount) Premium Unamortized Debt Issuance Costs Carrying Value Notes Payable: 4.875% 2013 Senior Notes, due 2024 $ 500 $ — $ (1) $ (1) $ 498 5.25% 2014 Senior Notes, due 2044 600 (7) 3 (5) 591 1.75% 2015 Senior Notes, due 2027 568 — — (2) 566 2.625% 2017 Senior Notes, due 2023 500 5 — (1) 504 3.25% 2017 Senior Notes, due 2028 500 8 (3) (2) 503 4.25% 2018 Senior Notes, due 2029 400 — (2) (2) 396 4.875% 2018 Senior Notes, due 2048 400 (7) (6) (4) 383 0.950% 2019 Senior Notes, due 2030 853 — (2) (5) 846 3.75% 2020 Senior Notes, due 2025 700 (9) (1) (4) 686 3.25% 2020 Senior Notes, due 2050 300 — (4) (3) 293 2.55% 2020 Senior Notes, due 2060 500 — (4) (5) 491 2.00% 2021 Senior Notes, due 2031 600 — (8) (5) 587 2.75% 2021 Senior Notes, due 2041 600 — (13) (6) 581 3.10% 2021 Senior Notes, due 2061 500 — (7) (5) 488 Total long-term debt $ 7,521 $ (10) $ (48) $ (50) $ 7,413 December 31, 2020 Principal Amount Fair Value of Interest Rate Swaps (1) Unamortized (Discount) Premium Unamortized Debt Issuance Costs Carrying Value Notes Payable: 4.50% 2012 Senior Notes, due 2022 $ 500 $ 14 $ (1) $ (1) $ 512 4.875% 2013 Senior Notes, due 2024 500 — (1) (1) 498 5.25% 2014 Senior Notes, due 2044 600 — 3 (5) 598 1.75% 2015 Senior Notes due 2027 612 — — (2) 610 2.625% 2017 Senior Notes, due 2023 500 12 — (2) 510 3.25% 2017 Senior Notes, due 2028 500 31 (4) (3) 524 4.25% 2018 Senior Notes, due 2029 400 — (3) (3) 394 4.875% 2018 Senior Notes, due 2048 400 — (6) (4) 390 0.950% 2019 Senior Notes, due 2030 918 — (3) (6) 909 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 $ 6,430 $ 56 $ (24) $ (40) $ 6,422 (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. Credit Facility On December 17, 2021, the Company entered into a five The following summarizes information relating to the Company's revolving credit facilities: December 31, 2021 December 31, 2020 Issue Date Capacity Maturity Drawn Undrawn Drawn Undrawn 2018 Credit Facility November 14, 2018 $ 1,000 November 13, 2023 (Terminated in 2021) $ — $ — $ — $ 1,000 2021 Credit Facility December 17, 2021 $ 1,250 December 17, 2026 $ — $ 1,250 $ — $ — 2018 Credit Facility Interest on borrowings under the 2018 Credit Facility ranged from 0 BPS to 22.5 BPS per annum for Alternate Base Rate loans (as defined in the 2018 Facility agreement) or payable at rates based on the London InterBank Offered Rate (“LIBOR”) plus a premium that ranged from 80.5 BPS to 122.5 BPS depending on the Company’s index debt ratings, as set forth in the 2018 Facility agreement. The Company also paid quarterly facility fees, regardless of borrowing activity under the facility. The quarterly fees for the 2018 Facility ranged from 7 BPS of the facility amount to 15 BPS, depending on the Company’s index debt ratings. The 2018 Facility contained certain customary covenants including a financial covenant that required the Company to maintain a total debt to EBITDA ratio of (i) not more than 4 to 1 at the end of any fiscal quarter or (ii) not more than 4.5 to 1 as of the end of the first three consecutive quarters immediately following any acquisition with consideration in excess of $500 million, subject to certain conditions as set forth in the 2018 Facility agreement. 2021 Credit Facility Interest on borrowings under the 2021 Credit Facility is payable at rates that are based on an adjusted term SOFR Rate plus a premium that can range from 80.5 basis points to 122.5 basis points, depending on the Company’s index debt ratings, as set forth in the 2021 Facility Agreement. The Company also has the option to choose other rates, such as those based on adjusted Daily Simple SOFR or an alternate base rate as set forth in the 2021 Facility Agreement. The Company also pays quarterly facility fees, regardless of borrowing activity under the Facility. The quarterly fees for the 2021 Facility can range from 7 basis points of the 2021 Credit Facility amount to 15 basis points, depending on the Company’s index debt ratings. The facility fees for the 2021 Credit Facility are subject to sustainability-based pricing adjustments based on the Company’s annual performance with respect to certain spending with vendors who have committed to and publicly announced the setting of science-based targets to reduce greenhouse gas emissions. The 2021 Facility contains a financial covenant that requires the Company to maintain a total debt to EBITDA Ratio of (i) not more than 4 to 1 at the end of any fiscal quarter or (ii) not more than 4.5 to 1 as of the end of the first three consecutive quarters immediately following any acquisition with consideration in excess of $500 million, subject to certain conditions as set forth in the 2021 Facility. Commercial Paper On August 3, 2016, the Company entered into a private placement commercial paper program under which the Company may issue CP notes up to a maximum amount of $1.0 billion. Borrowings under the CP Program are backstopped by the 2021 Facility. Amounts under the CP Program may be re-borrowed. The maturity of the CP Notes will vary, but may not exceed 397 days from the date of issue. The CP Notes are sold at a discount from par, or alternatively, sold at par and bear interest at rates that will vary based upon market conditions. The rates of interest will depend on whether the CP Notes will be a fixed or floating rate. The interest on a floating rate may be based on the following: (a) certificate of deposit rate; (b) commercial paper rate; (c) the federal funds rate; (d) the LIBOR; (e) prime rate; (f) Treasury rate; or (g) such other base rate as may be specified in a supplement to the private placement agreement. The CP Program contains certain events of default including, among other things: non-payment of principal, interest or fees; entrance into any form of moratorium; and bankruptcy and insolvency events, subject in certain instances to cure periods. As of December 31, 2021, the Company has no CP borrowings outstanding. Notes Payable The Company may prepay certain of its senior notes, in whole or in part, but may incur a Make-Whole Amount penalty. During 2021, the Company issued the 2021 Senior Notes due 2031, the 2021 Senior Notes due 2041, and the 2021 Senior Notes due 2061. The key terms of these debt issuances are set forth in the table above. Additionally, in 2021, the Company fully repaid $500 million of the 2012 Senior Notes due 2022 (along with a Make-Whole Amount of approximately $13 million). The Company also recognized in interest expense, net, an $8 million benefit relating to carrying value adjustments pursuant to the early termination of interest rate swaps designated as fair value hedges that were associated with the 2012 Senior Notes due 2022. At December 31, 2021, the Company was in compliance with all covenants contained within all of the debt agreements. All of 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 December 31, 2021, there were no such cross defaults. The repayment schedule for the Company’s borrowings is as follows: Year Ending 2013 Senior Notes due 2024 2014 Senior Notes 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 2021 Senior Notes due 2031 2021 Senior Notes due 2041 2021 Senior Notes due 2061 Total 2022 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — 2023 — — — 500 — — — — — — — — — — $ 500 2024 500 — — — — — — — — — — — — — $ 500 2025 — — — — — — — — 700 — — — — — $ 700 2026 — — — — — — — — — — — — — — $ — Thereafter — 600 568 — 500 400 400 853 — 300 500 600 600 500 5,821 Total $ 500 $ 600 $ 568 $ 500 $ 500 $ 400 $ 400 $ 853 $ 700 $ 300 $ 500 $ 600 $ 600 $ 500 $ 7,521 Interest expense, net The following table summarizes the components of interest as presented in the consolidated statements of operations: Year Ended December 31, 2021 2020 2019 Expense on borrowings $ (185) $ (163) $ (176) Expense on UTPs and other tax related liabilities (1) 21 (34) (28) Net periodic pension costs—interest component (16) (19) (22) Income 9 11 17 Capitalized — — 1 Total $ (171) $ (205) $ (208) Interest paid (2) $ 162 $ 132 $ 167 (1) The amount for the year ended December 31, 2021 includes a $45 million benefit relating to the reversal of tax-related interest accruals pursuant to the resolution of tax matters. (2) Interest paid includes net settlements on interest rate swaps more fully discussed in Note 7. The fair value and carrying value of the Company’s debt as of December 31, 2021 and 2020 are as follows: December 31, 2021 December 31, 2020 Carrying Amount Estimated Fair Carrying Amount Estimated Fair 4.50% 2012 Senior Notes, due 2022 $ — $ — $ 512 $ 530 4.875% 2013 Senior Notes, due 2024 498 538 498 562 5.25% 2014 Senior Notes, due 2044 591 805 598 828 1.75% 2015 Senior Notes, due 2027 566 607 610 674 2.625% 2017 Senior Notes, due 2023 504 509 510 522 3.25% 2017 Senior Notes, due 2028 503 539 524 561 4.25% 2018 Senior Notes, due 2029 396 451 394 480 4.875% 2018 Senior Notes, due 2048 383 526 390 544 0.950% 2019 Senior Notes, due 2030 846 866 909 974 3.75% 2020 Senior Notes, due 2025 686 750 693 785 3.25% 2020 Senior Notes, due 2050 293 311 293 329 2.55% 2020 Senior Notes, due 2060 491 432 491 467 2.00% 2021 Senior Notes, due 2031 587 581 — — 2.75% 2021 Senior Notes, due 2041 581 579 — — 3.10% 2021 Senior Notes, due 2061 488 488 — — Total $ 7,413 $ 7,982 $ 6,422 $ 7,256

CAPITAL STOCK

CAPITAL STOCK	12 Months Ended
	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
CAPITAL STOCK	CAPITAL STOCK Authorized Capital Stock The total number of shares of all classes of stock that the Company has authority to issue under its Restated Certificate of Incorporation is 1.02 billion shares with a par value of $0.01, of which 1.0 billion are shares of common stock, 10.0 million are shares of preferred stock and 10.0 million are shares of series common stock. The preferred stock and series common stock can be issued with varying terms, as determined by the Board. Share Repurchase Program The Company implemented a systematic share repurchase program in the third quarter of 2005 through an SEC Rule 10b5-1 program. Moody’s may also purchase opportunistically when conditions warrant. As a result, Moody’s share repurchase activity will continue to vary from quarter to quarter. The table below summarizes the Company’s remaining authority under its share repurchase program as of December 31, 2021: Date Authorized Amount Authorized Remaining Authority February 9, 2021 $ 1,000 $ 1,000 December 16, 2019 $ 1,000 $ 81 Total Remaining Authority at December 31, 2021 $ 1,081 Additionally, on February 7, 2022, the Board of Directors approved an additional $750 million of share repurchase authority. During 2021, Moody’s repurchased 2.2 million shares of its common stock under its share repurchase program and issued a net 0.8 million shares under employee stock-based compensation plans. The net amount includes shares withheld for employee payroll taxes. Dividends The Company’s cash dividends were: Dividends Per Share Year ended December 31, 2021 2020 2019 Declared Paid Declared Paid Declared Paid First quarter $ 0.62 $ 0.62 $ 0.56 $ 0.56 $ 0.50 $ 0.50 Second quarter 0.62 0.62 0.56 0.56 0.50 0.50 Third quarter 0.62 0.62 0.56 0.56 0.50 0.50 Fourth quarter 0.62 0.62 0.56 0.56 0.50 0.50 Total $ 2.48 $ 2.48 $ 2.24 $ 2.24 $ 2.00 $ 2.00 On February 7, 2022, the Board approved the declaration of a quarterly dividend of $0.70 per share of Moody’s common stock, payable on March 18, 2022 to shareholders of record at the close of business on February 25, 2022. The continued payment of dividends at the rate noted above, or at all, is subject to the discretion of the Board.

LEASE COMMITMENTS

LEASE COMMITMENTS	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
LEASE COMMITMENTS	LEASE COMMITMENTS The Company has operating leases, substantially all of which relate to the lease of office space. The Company's leases 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 from one The following table presents the components of the Company’s lease cost: Year Ended December 31, 2021 2020 2019 Operating lease cost $ 98 $ 96 $ 97 Sublease income (6) (5) (2) Variable lease cost 19 19 17 Total lease cost $ 111 $ 110 $ 112 The following tables present other information related to the Company’s operating leases: Year Ended December 31, 2021 2020 2019 Cash paid for amounts included in the measurement of operating lease liabilities $ 113 $ 108 $ 106 Right-of-use assets obtained in exchange for new operating lease liabilities $ 137 $ 36 $ 41 Year Ended December 31, 2021 2020 2019 Weighted-average remaining lease term (in years) 5.6 6.0 6.8 Weighted-average discount rate applied to operating leases 3.1 % 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 December 31, 2021: Year Ending December 31, Operating Leases 2022 $ 121 2023 118 2024 109 2025 93 2026 74 Thereafter 95 Total lease payments (undiscounted) 610 Less: Interest 50 Present value of lease liabilities: $ 560 Lease liabilities - current $ 105 Lease liabilities - noncurrent $ 455

CONTINGENCIES

CONTINGENCIES	12 Months Ended
	Dec. 31, 2021
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 17 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 Company often cannot predict what the eventual outcome of the pending matters will be or the timing of any resolution of such matters. The Company also may be unable to predict the impact (if any) that any such matters may have on how its business is conducted, on its competitive position or on its financial position, results of operations or cash flows. As the process to resolve any pending matters progresses, management will continue to review the latest information available and assess its ability to predict the outcome of such matters and the effects, if any, on its operations and financial condition and to accrue for and disclose such matters as and when required. However, because such matters are inherently unpredictable and unfavorable developments or resolutions can occur, the ultimate outcome of such matters, including the amount of any loss, may differ from those estimates.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2021
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. The MA segment consists of two LOBs - RD&A and ERS. Revenue for MIS and expenses for MA include intersegment fees charged to MA for the rights to use and distribute content, data and products developed by MIS. Additionally, 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 intersegment fees are generally based on the market value of the products and services being transferred between the segments. 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 2019 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 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. Year Ended December 31, 2021 2020 MIS MA Eliminations Consolidated MIS MA Eliminations Consolidated Revenue $ 3,977 $ 2,413 $ (172) $ 6,218 $ 3,440 $ 2,086 $ (155) $ 5,371 Operating, SG&A 1,503 1,786 (172) 3,117 1,387 1,472 (155) 2,704 Adjusted Operating Income 2,474 627 — 3,101 2,053 614 — 2,667 Depreciation and amortization 72 185 — 257 70 150 — 220 Restructuring (1) 1 — — 19 31 — 50 Loss pursuant to the divestiture of MAKS — — — — — 9 — 9 Operating Income $ 2,844 $ 2,388 Year Ended December 31, 2019 MIS MA Eliminations Consolidated Revenue $ 3,009 $ 1,963 $ (143) $ 4,829 Operating, SG&A 1,264 1,417 (143) 2,538 Adjusted Operating Income 1,745 546 — 2,291 Depreciation and amortization 71 129 — 200 Restructuring 31 29 — 60 Acquisition-Related Expenses — 3 — 3 Loss pursuant to the divestiture of MAKS — 14 — 14 Captive insurance company settlement 10 6 — 16 Operating income $ 1,998 The cumulative restructuring charges related to the 2018 Restructuring Program for the MIS and MA reportable segments are $60 million and $43 million, respectively. The cumulative restructuring charges related to the 2020 Restructuring Program for the MIS and MA reportable segments were $21 million and $15 million, respectively. The cumulative restructuring charge for the MA reportable segment related to the 2020 MA Strategic Reorganization Restructuring Program is $20 million. The restructuring programs are more fully discussed in Note 11. CONSOLIDATED REVENUE AND LONG-LIVED ASSETS INFORMATION BY GEOGRAPHIC AREA Year Ended December 31, 2021 2020 2019 Revenue: U.S. $ 3,416 $ 2,955 $ 2,544 Non-U.S.: EMEA 1,866 1,545 1,446 Asia-Pacific 596 571 551 Americas 340 300 288 Total Non-U.S. 2,802 2,416 2,285 Total $ 6,218 $ 5,371 $ 4,829 Long-lived assets at December 31: U.S. $ 4,449 $ 2,162 $ 1,290 Non-U.S. 4,802 4,889 4,678 Total $ 9,251 $ 7,051 $ 5,968

VALUATION AND QUALIFYING ACCOUN

VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2021
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
VALUATION AND QUALIFYING ACCOUNTS	VALUATION AND QUALIFYING ACCOUNTS Accounts receivable allowances represent estimates for uncollectible accounts. The valuation allowance on deferred tax assets relates to foreign net operating tax losses for which realization is uncertain. Below is a summary of activity: Year Ended December 31, Balance at Beginning of the Year Adoption of New Expected Credit Losses Accounting Standard Charged to costs and expenses Deductions (1) Balance at End of the Year 2021 Allowances for credit losses $ (34) $ — $ (13) $ 15 $ (32) Deferred tax assets—valuation allowance $ (15) $ — $ (4) $ 1 $ (18) 2020 Allowances for credit losses $ (20) $ (2) $ (26) $ 14 $ (34) Deferred tax assets—valuation allowance $ (9) $ — $ (6) $ — $ (15) 2019 Allowances for credit losses $ (20) $ — $ (10) $ 10 $ (20) Deferred tax assets—valuation allowance $ (5) $ — $ (4) $ — $ (9) (1) Reflects write-off of uncollectible accounts receivable or expiration of foreign net operating tax losses.

OTHER NON-OPERATING (EXPENSE) I

OTHER NON-OPERATING (EXPENSE) INCOME, NET	12 Months Ended
	Dec. 31, 2021
Other Income and Expenses [Abstract]
OTHER NON-OPERATING (EXPENSE) INCOME, NET	OTHER NON-OPERATING INCOME, NET The following table summarizes the components of other non-operating income, net as presented in the consolidated statements of operations: Year Ended December 31, 2021 2020 2019 FX (loss) gain $ (1) $ 2 $ (18) Purchase price hedge loss (1) (13) — — Net periodic pension costs—other components (2) 9 13 18 Income from investments in non-consolidated affiliates (3) 60 6 13 Other 27 25 7 Total $ 82 $ 46 $ 20 (1) Reflects a loss on a forward contract to hedge a portion of the RMS British pound-denominated purchase price. (2) The amount for the year ended December 31, 2021 includes an $8 million loss related to a settlement of pension obligations. (3) The amount for the year ended December 31, 2021 includes a $36 million non-cash gain relating to the exchange of Moody’s minority investment in VisibleRisk (accounted for under the equity method) for shares of BitSight, a cybersecurity ratings company.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTOn February 7, 2022, the Board approved the declaration of a quarterly dividend of $0.70 per share for Moody’s common stock, payable March 18, 2022 to shareholders of record at the close of business on February 25, 2022.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Consolidation	Basis of Consolidation The consolidated financial statements include those of Moody’s Corporation and its majority- and wholly-owned subsidiaries. The effects of all intercompany transactions have been eliminated. Investments in companies for which the Company has significant influence over operating and financial policies but not a controlling interest are accounted for on an equity basis whereby the Company records its proportional share of the investment’s net income or loss as part of other non-operating income (expense), net and any dividends received reduce the carrying amount of the investment. Equity investments without a readily determinable fair value for which the Company does not have significant influence are accounted for under the ASC 321 measurement alternative; these investments are recorded at initial cost, less impairment, adjusted upward or downward for any observable price changes in similar investments. The Company applies the guidelines set forth in Topic 810 of the ASC in assessing its interests in variable interest entities to decide whether to consolidate an entity. The Company has reviewed the potential variable interest entities and determined that there are no consolidation requirements under Topic 810 of the ASC. The Company consolidates its ICRA subsidiaries on a three month lag.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash equivalents principally consist of investments in money market deposit accounts as well as certificates of deposit with maturities of three months or less when purchased.
Short-term Investments	Short-term Investments Short-term investments are securities with maturities greater than 90 days at the time of purchase that are available for operations in the next 12 months. The Company’s short-term investments primarily consist of certificates of deposit and their cost approximates fair value due to the short-term nature of the instruments. Interest and dividends on these investments are recorded into income when earned.
Property and Equipment	Property and Equipment Property and equipment are stated at cost and are depreciated using the straight-line method over their estimated useful lives. Expenditures for maintenance and repairs that do not extend the economic useful life of the related assets are charged to expense as incurred.
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, website and other systems. Such costs generally consist of direct costs for third-party 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.
Goodwill and Other Acquired Intangible Assets	Goodwill and Other Acquired Intangible Assets Moody’s evaluates its goodwill for impairment at the reporting unit level, defined as an operating segment (i.e., MIS and MA), or one level below an operating segment (i.e., a component of an operating segment), annually as of July 31 or more frequently if impairment indicators arise in accordance with ASC Topic 350. The Company evaluates the recoverability of goodwill using a two-step impairment test approach at the reporting unit level. In the first step, the Company assesses various qualitative factors to determine whether the fair value of a reporting unit may be less than its carrying amount. If a determination is made based on the qualitative factors that an impairment does not exist, the Company is not required to perform further testing. If the aforementioned qualitative assessment results in the Company concluding that it is more likely than not that the fair value of a reporting unit may be less than its carrying amount, the fair value of the reporting unit will be quantitatively determined and compared to its carrying value including goodwill. If the fair value of the reporting unit exceeds the carrying value of the net assets assigned to that unit, goodwill is not impaired and the Company is not required to perform further testing. If the fair value of the reporting unit is less than the carrying value, the Company will record a goodwill impairment charge for the amount by which the carrying value exceeds the reporting unit’s fair value. The Company evaluates its reporting units on an annual basis, or more frequently if there are changes in the reporting structure of the Company due to acquisitions, reporting unit realignments or if there are indicators of potential impairment. For the reporting units where the Company is consistently able to conclude that no impairment exists using only a qualitative approach, the Company’s accounting policy is to perform the second step of the aforementioned goodwill impairment assessment at least once every three years. Goodwill is assigned to a reporting unit at the date when an acquisition is integrated into one of the established reporting units, and is based on which reporting unit is expected to benefit from the synergies of the acquisition. For purposes of assessing the recoverability of goodwill, the Company has four reporting units: two within the Company’s ratings business (one for the ICRA business and one that encompasses all of Moody’s other ratings operations) and two reporting units within MA consisting of businesses that offer: i) data and data-driven analytical solutions; and ii) risk-management software, workflow and CRE solutions.
Impairment of long-lived assets and definite-lived intangible assets	Impairment of long-lived assets and definite-lived intangible assets Long-lived assets (including ROU Assets) and amortizable intangible assets are reviewed for recoverability whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.
Stock-Based Compensation	Stock-Based Compensation The Company records compensation expense over the requisite service period for all share-based payment award transactions granted to employees based on the fair value of the equity instrument at the time of grant. This includes shares issued under stock option and restricted stock plans.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities Based on the Company’s risk management policy, the Company may use derivative financial instruments to reduce exposure to changes in foreign exchange rates and interest rates. The Company does not enter into derivative financial instruments for speculative purposes. All derivative financial instruments are recorded on the balance sheet at their respective fair values on a gross basis. The changes in the value of derivatives that qualify as fair value hedges are recorded in the same income statement line item in earnings in which the corresponding adjustment to the carrying value of the hedged item is presented. The entire change in the fair value of derivatives that qualify as cash flow hedges is recorded to OCI and such amounts are reclassified from AOCI(L) to the same income statement line in earnings in the same period or periods during which the hedged transaction affects income. The Company assesses effectiveness for net investment hedges using the spot-method. The entire change in the fair value of derivatives that qualify as net investment hedges is initially recorded to OCI. Those changes in fair value attributable to components included in the assessment of hedge effectiveness in a net investment hedge are recorded in the currency translation adjustment component of OCI and remain in AOCI(L) until the period in which the hedged item affects earnings. Those changes in fair value attributable to components excluded from the assessment of hedge effectiveness in a net investment hedge are recorded to OCI and amortized to earnings using a systematic and rational method over the duration of the hedge. Any changes in the fair value of derivatives that the Company does not designate as hedging instruments under Topic 815 of the ASC are recorded in the consolidated statements of operations in the period in which they occur.
Revenue Recognition and Costs to Obtain or Fulfill a Contract with a Customer	Revenue Recognition and Costs to Obtain or Fulfill a Contract with a Customer Revenue recognition: Revenue is recognized when control of promised goods or services is transferred to the customer, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. When contracts with customers contain multiple performance obligations, the Company accounts for individual performance obligations separately if they are distinct. The transaction price is allocated to each distinct performance obligation on a relative SSP basis. The Company determines the SSP by using the price charged for a deliverable when sold separately or uses management’s best estimate of SSP for goods or services not sold separately using estimation techniques that maximize observable data points, including: internal factors relevant to its pricing practices such as costs and margin objectives; standalone sales prices of similar products; pricing policies; percentage of the fee charged for a primary product or service relative to a related product or service; and customer segment and geography. Additional consideration is also given to market conditions such as competitor pricing strategies and market trends. Sales, usage-based, value added and other taxes are excluded from revenues. MIS Revenue In the MIS segment, revenue arrangements with multiple elements are generally comprised of two distinct performance obligations, a rating and the related monitoring service. Revenue attributed to ratings of issued securities is generally recognized when the rating is delivered to the issuer. Revenue attributed to monitoring of issuers or issued securities is recognized ratably over the period in which the monitoring is performed, generally one year. In the case of certain structured finance products, primarily CMBS, issuers can elect to pay all of the annual monitoring fees upfront. These fees are deferred and recognized over the future monitoring periods based on the expected lives of the rated securities. MIS arrangements generally have standard contractual terms for which the stated payments are due at conclusion of the ratings process for ratings and either upfront or in arrears for monitoring services; and are signed by customers either on a per issue basis or at the beginning of the relationship with the customer. In situations when customer fees for an arrangement may be variable, the Company estimates the variable consideration at inception using the expected value method based on analysis of similar contracts in the same line of business, which is constrained based on the Company’s assessment of the realization of the adjustment amount. The Company allocates the transaction price within arrangements that include multiple performance obligations based upon the relative SSP of each service. The SSP for both rating and monitoring services is generally based upon observable selling prices where the rating or monitoring service is sold separately to similar customers. MA Revenue In the MA segment, products and services offered by the Company include hosted research and data subscriptions, installed and hosted software subscriptions, perpetual installed software licenses and related maintenance, or PCS, and professional services. Subscription and PCS contracts are generally invoiced in advance of the contractual coverage period, which is principally one year, but can range from 3-5 years; while perpetual software licenses are generally invoiced upon delivery and professional services are invoiced as those services are provided. Payment terms and conditions vary by contract type, but primarily include a requirement of payment within 30 to 60 days. Revenue from research, data and other hosted subscriptions is recognized ratably over the related subscription period as MA's performance obligation to provide access to these products is progressively fulfilled over the stated term of the contract. A large portion of these services are invoiced in the months of November, December and January. Revenue from the sale of a software license, when considered distinct from the related software implementation services, is generally recognized at the time the product master or first copy is delivered or transferred to the customer. PCS is generally recognized ratably over the contractual period commencing when the software license is fully delivered. Revenue from installed software subscriptions, which includes PCS, is bifurcated into a software license performance obligation and a PCS performance obligation, which follow the patterns of recognition described above. For implementation services and other service projects within the ERS and ESA businesses for which fees are fixed, the Company determined progress towards completion is most accurately measured on a percentage-of-completion basis (input method) as this approach utilizes the most directly observable data points and is therefore used to recognize the related revenue. For implementation services where price varies based on time expended, a time-based measure of progress towards completion of the performance obligation is utilized. Revenue from professional services rendered is generally recognized as the services are performed over time. Products and services offered within the MA segment are sold either stand-alone or together in various combinations. In instances where an arrangement contains multiple performance obligations, the Company accounts for the individual performance obligations separately if they are considered distinct. Revenue is generally allocated to all performance obligations based upon the relative SSP at contract inception. For certain performance obligations, judgment is required to determine the SSP. Revenue is recognized for each performance obligation based upon the conditions for revenue recognition noted above. In the MA segment, customers usually pay a fixed fee for the products and services based on signed contracts. However, accounting for variable consideration is applied mainly for: i) estimates for cancellation rights and price concessions and ii) T&M based services. The Company estimates the variable consideration associated with cancellation rights and price concessions based on the expected amount to be provided to customers and reduces the amount of revenue to be recognized. T&M based contracts represent about half of MA’s service projects within the ERS and ESA businesses. The Company provides agreed upon services at a contracted daily or hourly rate. The commitment represents a series of goods and services that are substantially the same and have the same pattern of transfer to the customer. As such, if T&M services are sold with other MA products, the Company allocates the variable consideration entirely to the T&M performance obligation if the services are sold at standard pricing or at a similar discount level compared to other performance obligations in the same revenue contract. If these criteria are not met, the Company estimates variable consideration for each performance obligation upfront. Each form of variable consideration is included in the transaction price only to the extent that it is probable that a significant reversal of any incremental revenue will not occur. Costs to Obtain or Fulfill a Contract with a Customer: Costs to obtain a contract with a customer Costs incurred to obtain customer contracts, such as sales commissions, are deferred and recorded within other current assets and other assets when such costs are determined to be incremental to obtaining a contract, would not have been incurred otherwise and the Company expects to recover those costs. These costs are amortized to expense on a systematic basis consistent with the transfer of the products or services to the customer. Depending on the line of business to which the contract relates, this may be based upon the average economic life of the products sold or average period for which services are provided, inclusive of anticipated contract renewals. Determining the estimated economic life of the products sold requires judgment with respect to anticipated future technological changes. Costs to obtain customer contracts are only incurred in the MA segment. Cost to fulfill a contract with a customer Costs incurred to fulfill customer contracts, are deferred and recorded within other current assets and other assets when such costs relate directly to a contract, generate or enhance resources of the Company that will be used in satisfying performance obligations in the future and the Company expects to recover those costs. The Company capitalizes work-in-process costs for in-progress MIS ratings, which is recognized consistent with the rendering of the related services to the customers, as ratings are issued.
Accounts Receivable Allowances	Accounts Receivable Allowances 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, and 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.
Leases	Leases The Company has operating leases, of which substantially all 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. The Company determines if an arrangement meets the definition of a lease at contract inception. The Company recognizes in its consolidated balance sheet a lease liability and an ROU Asset for all leases with a lease term greater than 12 months. In determining the length of the lease term, the Company utilizes judgment in assessing the likelihood of whether it is reasonably certain that it will exercise an option to extend or early-terminate a lease, if such options are provided in the lease agreement. ROU Assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU Assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As substantially all of the Company’s leases do not provide an implicit interest rate, the Company uses its estimated secured incremental borrowing rates at the lease commencement date in determining the present value of lease payments. These secured incremental borrowing rates are attributable to the currency in which the lease is denominated. At commencement, the Company’s initial measurement of the ROU Asset is calculated as the present value of the remaining lease payments (i.e., lease liability), with additive adjustments reflecting: initial direct costs (e.g., broker commissions) and prepaid lease payments (if any); and reduced by any lease incentives provided by the lessor if: (i) received before lease commencement or (ii) receipt of the lease incentive is contingent upon future events for which the occurrence is both probable and within the Company’s control. Lease expense for minimum operating lease payments is recognized on a straight-line basis over the lease term. This straight-line lease expense represents a single lease cost which is comprised of both an interest accretion component relating to the lease liability and amortization of the ROU Assets. The Company records this single lease cost in operating and SG&A expenses. However, in situations where an operating lease ROU Asset has been impaired, the subsequent amortization of the ROU Asset is then recorded on a straight-line basis over the remaining lease term and is combined with accretion expense on the lease liability to result in single operating lease cost (which subsequent to impairment will no longer follow a straight-line recognition pattern). The Company has lease agreements which include lease and non-lease components. For the Company’s office space leases, the lease components (e.g., fixed rent payments) and non-lease components (e.g., fixed common-area maintenance costs) are combined and accounted for as a single lease component. Variable lease payments (e.g. variable common-area-maintenance costs) are only included in the initial measurement of the lease liability to the extent those payments depend on an index or a rate. Variable lease payments not included in the lease liability are recognized in net income in the period in which the obligation for those payments is incurred.
Contingencies	Contingencies Moody’s is involved in legal and tax proceedings, governmental, regulatory and legislative investigations and inquiries, claims and litigation that are incidental to the Company’s business, including claims based on ratings assigned by MIS. Moody’s is also subject to ongoing tax audits in the normal course of business. Management periodically assesses the Company’s liabilities and contingencies in connection with these matters based upon the latest information available. Moody’s discloses material pending legal proceedings pursuant to SEC rules and other pending matters as it may determine to be appropriate. 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 Company often cannot predict what the eventual outcome of the pending matters will be or the timing of any resolution of such matters. The Company also may be unable to predict the impact (if any) that any such matters may have on how its business is conducted, on its competitive position or on its financial position, results of operations or cash flows. As the process to resolve any pending matters progresses, management will continue to review the latest information available and assess its ability to predict the outcome of such matters and the effects, if any, on its operations and financial condition and to accrue for and disclose such matters as and when required. However, because such matters are inherently unpredictable and unfavorable developments or resolutions can occur, the ultimate outcome of such matters, including the amount of any loss, may differ from those estimates.
Operating Expenses	Operating Expenses Operating expenses include costs associated with the development and production of the Company’s products and services and their delivery to customers. These expenses principally include employee compensation and benefits and travel costs that are incurred in connection with these activities. Operating expenses are charged to income as incurred.
Selling, General and Administrative Expenses	Selling, General and Administrative Expenses SG&A expenses include such items as compensation and benefits for corporate officers and staff and compensation and other expenses related to sales. They also include items such as office rent, business insurance, professional fees and gains and losses from sales and disposals of assets. SG&A expenses are charged to income as incurred.
Foreign Currency Translation	Foreign Currency Translation For all operations outside the U.S. where the Company has designated the local currency as the functional currency, assets and liabilities are translated into U.S. dollars using end of year exchange rates, and revenue and expenses are translated using average exchange rates for the year. For these foreign operations, currency translation adjustments are recorded to other comprehensive income.
Comprehensive Income	Comprehensive Income Comprehensive income represents the change in net assets of a business enterprise during a period due to transactions and other events and circumstances from non-owner sources including: foreign currency translation impacts; net actuarial gains and losses and net prior service costs related to pension and other retirement plans; and gains and losses on derivative instruments designated as net investment hedges or cash flow hedges. Comprehensive income items, including cumulative translation adjustments of entities that are less-than-wholly-owned subsidiaries, will be reclassified to noncontrolling interests and thereby, adjusting accumulated other comprehensive income proportionately in accordance with the percentage of ownership interest of the non-controlling shareholder.
Income Taxes	Income Taxes The Company accounts for income taxes under the asset and liability method in accordance with ASC Topic 740. Therefore, income tax expense is based on reported income before income taxes and deferred income taxes reflect the effect of temporary differences between the amounts of assets and liabilities that are recognized for financial reporting purposes and the amounts that are recognized for income tax purposes. The Company classifies interest related to unrecognized tax benefits as a component of interest expense in its consolidated statements of operations. Penalties are recognized in other non-operating expenses. For UTPs, the Company first determines whether it is more-likely-than-not (defined as a likelihood of more than fifty percent) that a tax position will be sustained based on its technical merits as of the reporting date, assuming that taxing authorities will examine the position and have full knowledge of all relevant information. A tax position that meets this more-likely-than-not threshold is then measured and recognized at the largest amount of benefit that is greater than fifty percent likely to be realized upon effective settlement with a taxing authority. On December 22, 2017, the Tax Act was signed into law, resulting in all previously undistributed foreign earnings being subject to U.S. tax. The Company has provided deferred taxes for those entities whose earnings are not considered indefinitely reinvested.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company’s financial instruments include cash, cash equivalents, trade receivables and payables, and certain short-term investments consisting primarily of certificates of deposit and money market deposits, all of which are short-term in nature and, accordingly, approximate fair value. The Company also invests in mutual funds, which are accounted for as equity securities with readily determinable fair values under ASC Topic 321. The Company measures these investments at fair value with both realized gains and losses and unrealized holding gains and losses for these investments included in net income. Also, the Company uses derivative instruments to manage certain financial exposures that occur in the normal course of business. These derivative instruments are carried at fair value in the Company’s consolidated balance sheets. Fair value is defined by the ASC 820 as the price that would be received from selling an asset or paid to transfer a liability (i.e., an exit price) in an orderly transaction between market participants at the measurement date. The determination of this fair value is based on the principal or most advantageous market in which the Company could commence transactions and considers assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions and risk of nonperformance. Also, determination of fair value assumes that market participants will consider the highest and best use of the asset. The ASC establishes a fair value hierarchy whereby the inputs contained in valuation techniques used to measure fair value are categorized into three broad levels as follows: Level 1: quoted market prices in active markets that the reporting entity has the ability to access at the date of the fair value measurement; Level 2: inputs other than quoted market prices described in Level 1 that are observable for the asset or liability, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; Level 3: unobservable inputs that are supported by little or no market activity and that are significant to the fair value measurement of the assets or liabilities.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk principally consist of cash and cash equivalents, short-term investments, trade receivables and derivatives. The Company manages its credit risk exposure by allocating its cash equivalents among various money market deposit accounts and certificates of deposits. Short-term investments primarily consist of certificates of deposit as of December 31, 2021 and 2020. The Company manages its credit risk exposure on cash equivalents and short-term investments by limiting the amount it can invest with any single entity. No customer accounted for 10% or more of accounts receivable at December 31, 2021 or 2020.
Earnings per Share of Common Stock	Earnings per Share of Common Stock Basic shares outstanding is calculated based on the weighted average number of shares of common stock outstanding during the reporting period. Diluted shares outstanding is calculated giving effect to all potentially dilutive common shares, assuming that such shares were outstanding and dilutive during the reporting period.
Pension and Other Retirement Benefits	Pension and Other Retirement Benefits Moody’s maintains various noncontributory DBPPs as well as other contributory and noncontributory retirement plans. The expense and assets/liabilities that the Company reports for its pension and other retirement benefits are dependent on many assumptions concerning the outcome of future events and circumstances. These assumptions represent the Company’s best estimates and may vary by plan. The differences between the assumptions for the expected long-term rate of return on plan assets and actual experience is spread over a five-year period to the market-related value of plan assets, which is used in determining the expected return on assets component of annual pension expense. All other actuarial gains and losses are generally deferred and amortized over the estimated average future working life of active plan participants. The Company recognizes as an asset or liability in its consolidated balance sheet the funded status of its defined benefit retirement plans, measured on a plan-by-plan basis. Changes in the funded status due to actuarial gains/losses are recorded as part of other comprehensive income during the period the changes occur.
Use of Estimates	Use of EstimatesThe 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.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In January 2021, the FASB issued ASU 2021-01, “Reference Rate Reform - Scope,” which clarified the scope and application of the original guidance, ASU No. 2020-04, "Facilitation of the Effects of Reference Rate Reform on Financial Reporting" ("ASU No. 2020-04"), issued in March 2020 (codified into ASC Topic 848 "Reference Rate Reform"). ASU No. 2020-04 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. Both ASU's were effective upon issuance, and the Company may elect to apply the amendments prospectively through December 31, 2022 as the transition from LIBOR is completed. As of December 31, 2021, the Company has interest rate swaps designated as fair value hedges and cross currency swaps designated as net investment hedges referencing three-month or six-month USD LIBOR with aggregate notional amounts as disclosed in Note 6. For derivative instruments that will be outstanding at the transition date, the Company intends to modify the contractual terms of the instruments to replace LIBOR with another reference rate, such as SOFR. Pursuant to the modification of the contractual terms of these instruments, the Company intends to utilize the various optional expedients set forth in ASC Topic 848 relating to derivative instruments used in hedging relationships. In October 2021, the FASB issued ASU 2021-08, "Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers" ("ASU No. 2021-08"). ASU No. 2021-08 will require companies to apply the definition of a performance obligation under ASC Topic 606 to recognize and measure contract assets and contract liabilities (i.e., deferred revenue) relating to contracts with customers that are acquired in a business combination. Under current GAAP, an acquirer generally recognizes assets acquired and liabilities assumed in a business combination, including contract assets and contract liabilities arising from revenue contracts with customers, at fair value on the acquisition date. ASU No. 2021-08 will result in the acquirer recording acquired contract assets and liabilities on the same basis that would have been recorded by the acquiree before the acquisition under ASC Topic 606. ASU No. 2021-08 is effective for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company intends to early adopt this ASU effective January 1, 2022.

REVENUES (Tables)

REVENUES (Tables)	12 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents the Company’s revenues disaggregated by LOB: Year Ended December 31, 2021 2020 2019 MIS: Corporate finance (CFG) Investment-grade $ 439 $ 636 $ 379 High-yield 411 352 258 Bank loans 606 287 313 Other accounts (CFG) (1) 631 582 547 Total CFG 2,087 1,857 1,497 Financial institutions (FIG) Banking 411 355 320 Insurance 145 137 119 Managed investments 36 28 25 Other accounts (FIG) 10 10 12 Total FIG 602 530 476 Public, project and infrastructure finance (PPIF) Public finance / sovereign 244 250 222 Project and infrastructure 277 246 224 Total PPIF 521 496 446 Structured finance (SFG) Asset-backed securities 118 98 99 RMBS 123 96 95 CMBS 102 61 81 Structured credit 215 105 148 Other accounts (SFG) 2 2 4 Total SFG 560 362 427 Total ratings revenue 3,770 3,245 2,846 MIS Other 42 47 29 Total external revenue 3,812 3,292 2,875 Intersegment royalty 165 148 134 Total MIS 3,977 3,440 3,009 MA: Research, data and analytics (RD&A) 1,745 1,514 1,273 Enterprise risk solutions (ERS) 661 565 522 Professional services (PS) (2) — — 159 Total external revenue 2,406 2,079 1,954 Intersegment revenue 7 7 9 Total MA 2,413 2,086 1,963 Eliminations (172) (155) (143) Total MCO $ 6,218 $ 5,371 $ 4,829 (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: Year Ended December 31, 2021 Year Ended December 31, 2020 Year Ended December 31, 2019 U.S. Non-U.S. Total U.S. Non-U.S. Total U.S. Non-U.S. Total MIS: Corporate finance $ 1,384 $ 703 $ 2,087 $ 1,291 $ 566 $ 1,857 $ 968 $ 529 $ 1,497 Financial institutions 289 313 602 250 280 530 200 276 476 Public, project and infrastructure finance 304 217 521 311 185 496 282 164 446 Structured finance 364 196 560 214 148 362 270 157 427 Total ratings revenue 2,341 1,429 3,770 2,066 1,179 3,245 1,720 1,126 2,846 MIS Other 3 39 42 2 45 47 1 28 29 Total MIS 2,344 1,468 3,812 2,068 1,224 3,292 1,721 1,154 2,875 MA: Research, data and analytics 758 987 1,745 668 846 1,514 558 715 1,273 Enterprise risk solutions 314 347 661 219 346 565 201 321 522 Professional services (PS) (1) — — — — — — 64 95 159 Total MA 1,072 1,334 2,406 887 1,192 2,079 823 1,131 1,954 Total MCO $ 3,416 $ 2,802 $ 6,218 $ 2,955 $ 2,416 $ 5,371 $ 2,544 $ 2,285 $ 4,829 (1) 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 reportable segment revenues disaggregated by segment and geographic region: Year Ended December 31, 2021 2020 2019 MIS: U.S. $ 2,344 $ 2,068 $ 1,721 Non-U.S.: EMEA 930 727 686 Asia-Pacific 357 345 320 Americas 181 152 148 Total Non-U.S. 1,468 1,224 1,154 Total MIS 3,812 3,292 2,875 MA: U.S. 1,072 887 823 Non-U.S.: EMEA 936 818 760 Asia-Pacific 239 226 231 Americas 159 148 140 Total Non-U.S. 1,334 1,192 1,131 Total MA 2,406 2,079 1,954 Total MCO $ 6,218 $ 5,371 $ 4,829 The following tables summarize the split between transaction and recurring 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 recurring 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 recurring revenue represents subscription-based revenues. In the MA segment, recurring 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, and training and certification services. Year Ended December 31, 2021 2020 2019 Transaction Recurring Total Transaction Recurring Total Transaction Recurring Total Corporate Finance $ 1,600 $ 487 $ 2,087 $ 1,401 $ 456 $ 1,857 $ 1,057 $ 440 $ 1,497 77 % 23 % 100 % 75 % 25 % 100 % 71 % 29 % 100 % Financial Institutions $ 320 $ 282 $ 602 $ 265 $ 265 $ 530 $ 212 $ 264 $ 476 53 % 47 % 100 % 50 % 50 % 100 % 45 % 55 % 100 % Public, Project and Infrastructure Finance $ 354 $ 167 $ 521 $ 337 $ 159 $ 496 $ 292 $ 154 $ 446 68 % 32 % 100 % 68 % 32 % 100 % 65 % 35 % 100 % Structured Finance $ 362 $ 198 $ 560 $ 175 $ 187 $ 362 $ 246 $ 181 $ 427 65 % 35 % 100 % 48 % 52 % 100 % 58 % 42 % 100 % MIS Other $ 4 $ 38 $ 42 $ 4 $ 43 $ 47 $ 2 $ 27 $ 29 10 % 90 % 100 % 9 % 91 % 100 % 7 % 93 % 100 % Total MIS $ 2,640 $ 1,172 $ 3,812 $ 2,182 $ 1,110 $ 3,292 $ 1,809 $ 1,066 $ 2,875 69 % 31 % 100 % 66 % 34 % 100 % 63 % 37 % 100 % Research, data and analytics $ 91 $ 1,654 $ 1,745 $ 80 $ 1,434 $ 1,514 $ 16 $ 1,257 $ 1,273 5 % 95 % 100 % 5 % 95 % 100 % 1 % 99 % 100 % Enterprise risk solutions $ 79 $ 582 $ 661 $ 117 $ 448 $ 565 $ 118 $ 404 $ 522 12 % 88 % 100 % 21 % 79 % 100 % 23 % 77 % 100 % Professional services (1) $ — $ — $ — $ — $ — $ — $ 159 $ — $ 159 — % — % — % — % — % — % 100 % — % 100 % Total MA $ 170 $ 2,236 $ 2,406 $ 197 $ 1,882 $ 2,079 $ 293 $ 1,661 $ 1,954 7 % 93 % 100 % 9 % 91 % 100 % 15 % 85 % 100 % Total Moody’s Corporation $ 2,810 $ 3,408 $ 6,218 $ 2,379 $ 2,992 $ 5,371 $ 2,102 $ 2,727 $ 4,829 45 % 55 % 100 % 44 % 56 % 100 % 44 % 56 % 100 % (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 timing of revenue recognition: Year Ended December 31, 2021 Year Ended December 31, 2020 Year Ended December 31, 2019 MIS MA Total MIS MA Total MIS MA Total Revenue recognized at a point in time $ 2,640 $ 101 $ 2,741 $ 2,182 $ 121 $ 2,303 $ 1,809 $ 132 $ 1,941 Revenue recognized over time 1,172 2,305 3,477 1,110 1,958 3,068 1,066 1,822 2,888 Total $ 3,812 $ 2,406 $ 6,218 $ 3,292 $ 2,079 $ 5,371 $ 2,875 $ 1,954 $ 4,829
Schedule of Changes in the Deferred Revenue Balances	Significant changes in the deferred revenue balances during the year ended December 31, 2021 are as follows: Year Ended December 31, 2021 MIS MA Total Balance at December 31, 2020 $ 313 $ 874 $ 1,187 Changes in deferred revenue Revenue recognized that was included in the deferred revenue balance at the beginning of the period (220) (810) (1,030) Increases due to amounts billable excluding amounts recognized as revenue during the period 207 884 1,091 Increases due to acquisitions during the period — 94 94 Effect of exchange rate changes (4) (3) (7) Total changes in deferred revenue (17) 165 148 Balance at December 31, 2021 $ 296 $ 1,039 $ 1,335 Deferred revenue - current $ 214 $ 1,035 $ 1,249 Deferred revenue - noncurrent $ 82 $ 4 $ 86 Significant changes in the deferred revenue balances during the year ended December 31, 2020 are as follows: Year Ended December 31, 2020 MIS MA Total Balance at December 31, 2019 $ 322 $ 840 $ 1,162 Changes in deferred revenue Revenue recognized that was included in the deferred revenue balance at the beginning of the period (229) (800) (1,029) Increases due to amounts billable excluding amounts recognized as revenue during the period 215 792 1,007 Increases due to acquisitions during the period — 24 24 Effect of exchange rate changes 5 18 23 Total changes in deferred revenue (9) 34 25 Balance at December 31, 2020 $ 313 $ 874 $ 1,187 Deferred revenue—current $ 216 $ 873 $ 1,089 Deferred revenue—noncurrent $ 97 $ 1 $ 98 Significant changes in the deferred revenue balances during the year ended December 31, 2019 are as follows: Year Ended December 31, 2019 MIS MA Total Balance at December 31, 2018 $ 325 $ 750 $ 1,075 Changes in deferred revenue Revenue recognized that was included in the deferred revenue balance at the beginning of the period (209) (714) (923) Increases due to amounts billable excluding amounts recognized as revenue during the period 202 789 991 Increases due to acquisitions during the period 3 6 9 Effect of exchange rate changes 1 9 10 Total changes in deferred revenue (3) 90 87 Balance at December 31, 2019 $ 322 $ 840 $ 1,162 Deferred revenue—current $ 214 $ 836 $ 1,050 Deferred revenue—noncurrent $ 108 $ 4 $ 112
Capitalized Contract Cost	MA Costs to Obtain a Contract with a Customer As of December 31, 2021 2020 Capitalized costs to obtain sales contracts $ 183 $ 180 Year ended December 31, 2021 2020 2019 Amortization of capitalized costs to obtain sales contracts $ 60 $ 59 $ 53 MIS and MA Costs to Fulfill a Contract with a Customer As of December 31, 2021 As of December 31, 2020 MIS MA Total MIS MA Total Capitalized costs to fulfill sales contracts $ 14 $ 44 $ 58 $ 12 $ 35 $ 47 Year Ended Year Ended Year Ended MIS MA Total MIS MA Total MIS MA Total Amortization of capitalized costs to fulfill sales contracts $ 48 $ 76 $ 124 $ 47 $ 66 $ 113 $ 42 $ 56 $ 98

RECONCILIATION OF WEIGHTED AV_2

RECONCILIATION OF WEIGHTED AVERAGE SHARES OUTSTANDING (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Reconciliation of Basic to Diluted Shares Outstanding	Below is a reconciliation of basic to diluted shares outstanding: Year Ended December 31, 2021 2020 2019 Basic 186.4 187.6 189.3 Dilutive effect of shares issuable under stock-based compensation plans 1.5 1.7 2.3 Diluted 187.9 189.3 191.6 Antidilutive options to purchase common shares and restricted stock as well as contingently issuable restricted stock which are excluded from the table above 0.2 0.2 0.2

CASH EQUIVALENTS AND INVESTME_2

CASH EQUIVALENTS AND INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2021
Cash and Cash Equivalents [Abstract]
CASH EQUIVALENTS AND INVESTMENTS	The table below provides additional information on the Company’s cash equivalents and investments: As of December 31, 2021 Cost Gross Unrealized Gains Fair Value Balance sheet location Cash and cash equivalents Short-term investments Other assets Certificates of deposit and money market deposit accounts (1) $ 691 $ — $ 691 $ 584 $ 91 $ 16 Mutual funds $ 65 $ 8 $ 73 $ — $ — $ 73 As of December 31, 2020 Cost Gross Unrealized Gains Fair Value Balance sheet location Cash and cash equivalents Short-term investments Other assets Certificates of deposit and money market deposit accounts (1) $ 1,430 $ — $ 1,430 $ 1,325 $ 99 $ 6 Mutual funds $ 54 $ 6 $ 60 $ — $ — $ 60 (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

DERIVATIVE INSTRUMENTS AND HE_2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	12 Months Ended
	Dec. 31, 2021
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: Nature of Swap Notional Amount Floating Interest Rate Hedged Item 2021 2020 2012 Senior Notes due 2022 (1) Pay Floating/Receive Fixed $ — $ 330 3-month LIBOR 2017 Senior Notes due 2023 Pay Floating/Receive Fixed $ 250 $ 250 3-month LIBOR 2017 Senior Notes due 2028 Pay Floating/Receive Fixed $ 500 $ 500 3-month LIBOR 2020 Senior Notes due 2025 Pay Floating/Receive Fixed $ 300 $ 300 6-month LIBOR 2014 Senior Notes due 2044 (2) Pay Floating/Receive Fixed $ 300 $ — 3-month LIBOR 2018 Senior Notes due 2048 (2) Pay Floating/Receive Fixed $ 300 $ — 3-month LIBOR Total $ 1,650 $ 1,380 (1) Terminated in conjunction with the repayment of the 2012 Senior Notes due 2022 in the fourth quarter of 2021. (2) Executed in the third quarter of 2021. December 31, 2021 Pay Receive Nature of Swap Notional Amount Weighted Average Interest Rate Notional Amount Weighted Average Interest Rate Pay Fixed/Receive Fixed € 909 2.16% $ 1,050 4.45% Pay Floating/Receive Floating 1,179 Based on 3-month EURIBOR 1,350 Based on 3-month USD LIBOR Total € 2,088 $ 2,400 December 31, 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
Gains and Losses on Derivatives Designated as Hedging Instruments	The following table summarizes the impact to the statements 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 (Expense) Year Ended December 31, 2021 2020 2019 Interest expense, net $ (171) $ (205) $ (208) Descriptions Location on Consolidated Statements of Operations Net interest settlements and accruals on interest rate swaps Interest expense, net $ 23 $ 19 $ 3 Fair value changes on interest rate swaps Interest expense, net $ (60) $ 47 $ 25 Fair value changes on hedged debt Interest expense, net $ 60 $ (47) $ (25)
Schedule of Net Investment Hedges, Notional Amount That Will Be Settled At Expiry	As of December 31, 2021, these hedges will expire and the notional amounts will be settled as follows unless terminated early at the discretion of the Company: Year Ending December 31, 2023 € 442 2024 € 443 2026 € 450 2027 € 246 2028 € 507 Total € 2,088
Summary of Notional Amounts of Outstanding Derivative Positions	The following table summarizes the notional amounts of the Company's outstanding forward contracts that were designated as net investment hedges: December 31, 2021 December 31, 2020 Notional amount of net investment hedges Sell Buy Sell Buy Contract to sell EUR for USD € — $ — € 524 $ 627 Contract to sell GBP for EUR £ — € — £ 134 € 148 The following table summarizes the notional amounts of the Company’s outstanding foreign exchange forwards: December 31, 2021 December 31, 2020 Notional Amount of Currency Pair: Sell Buy Sell Buy Contracts to sell USD for GBP $ 126 £ 92 $ 295 £ 222 Contracts to sell USD for Japanese Yen $ 22 ¥ 2,500 $ 15 ¥ 1,600 Contracts to sell USD for Canadian dollars $ 120 C$ 150 $ 107 C$ 140 Contracts to sell USD for Singapore dollars $ 67 S$ 90 $ 59 S$ 79 Contracts to sell USD for Euros $ 364 € 315 $ 447 € 376 Contracts to sell Euros for GBP € — £ — € 135 £ 121 Contracts to sell USD for Russian Ruble $ 16 ₽ 1,200 $ 13 ₽ 1,000 Contracts to sell USD for Indian Rupee $ 7 ₹ 500 $ 18 ₹ 1,350 Contracts to sell GBP for USD £ 172 $ 231 £ — $ — NOTE: € = Euro, £ = British pound, S$ = Singapore dollar, $ = U.S. dollar, ¥ = Japanese yen, C$ = Canadian dollar, ₽ = Russian Ruble, ₹= Indian Rupee
Amount of Gain/(Loss) Recognized in AOCI on Derivative Net Investment Hedging Relationships	The following table provides information on the gains/(losses) on the Company’s net investment and cash flow hedges: Amount of Gain/(Loss) Amount of Gain/(Loss) Gain/(Loss) Recognized in Derivative and Non-Derivative Instruments in Net Investment Hedging Relationships Year Ended December 31, Year Ended December 31, Year Ended December 31, 2021 2020 2019 2021 2020 2019 2021 2020 2019 FX forward contracts $ 18 $ (14) $ 4 $ 1 $ — $ 2 $ — $ — $ — Cross currency swaps 143 (165) 29 — — — 35 50 52 Long-term debt 81 (95) (7) (1) — — — — — — Total net investment hedges $ 242 $ (274) $ 26 $ 1 $ — $ 2 $ 35 $ 50 $ 52 Derivatives in Cash Flow Hedging Relationships Interest rate contracts — (51) — (2) (2) — — — — Total cash flow hedges — (51) — (2) (2) — — — — Total $ 242 $ (325) $ 26 $ (1) $ (2) $ 2 $ 35 $ 50 $ 52 (1) Due to the Company's adoption of ASU 2018-02 during 2019, $3 million related to the tax effect of this net investment hedge was reclassified to retained earnings.
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 December 31, 2021 December 31, 2020 Net investment hedges FX forwards $ 29 $ 12 Cross currency swaps 19 (124) Long-term debt (27) (108) Total net investment hedges 21 (220) Cash flow hedges Interest rate contracts (49) (51) Cross-currency swap 2 2 Total cash flow hedges (47) (49) Total net (loss) gain in AOCL $ (26) $ (269) The following table shows changes in AOCL by component (net of tax): Year Ended December 31, 2021 Pension and Other Retirement Benefits Gains / (Losses) on Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Balance December 31, 2020 $ (118) $ (49) $ (45) $ (220) $ (432) Other comprehensive income/(loss) before reclassifications 55 — (290) 242 7 Amounts reclassified from AOCL 14 2 — (1) 15 Other comprehensive income/(loss) 69 2 (290) 241 22 Balance December 31, 2021 $ (49) $ (47) $ (335) $ 21 $ (410) Year Ended December 31, 2020 Pension and Other Retirement Benefits Gains / (Losses) on Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Balance December 31, 2019 $ (92) $ — $ (401) $ 54 $ (439) Other comprehensive income/(loss) before reclassifications (32) (51) 356 (273) — Amounts reclassified from AOCL 6 2 — (1) 7 Other comprehensive income/(loss) (26) (49) 356 (274) 7 Balance December 31, 2020 $ (118) $ (49) $ (45) $ (220) $ (432) Year Ended December 31, 2019 Pension and Other Retirement Benefits Gains / (Losses) on Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Balance December 31, 2018 $ (53) $ — $ (406) $ 33 $ (426) Adoption of ASU 2018-02 (17) — — (3) (20) Other comprehensive income/(loss) before reclassifications (24) — (27) 26 (25) Amounts reclassified from AOCL 2 — 32 (2) 32 Other comprehensive income/(loss) (39) — 5 21 (13) Balance December 31, 2019 $ (92) $ — $ (401) $ 54 $ (439)
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 gain (loss) on the Company’s derivatives which are not designated as hedging instruments: Year Ended December 31, Derivatives Not Designated as Accounting Hedges Location on Statement of Operations 2021 2020 2019 FX forwards Other non-operating expense, net $ (27) $ 41 $ (11) Foreign exchange forwards relating to RMS acquisition (1) Other non-operating income, net $ (13) $ — $ — (1) The Company entered into forward contracts to sell $1,675 million for €1,200 to hedge a portion of the GBP denominated RMS purchase price. The contract was terminated on September 14, 2021 and resulted in a $13 million loss.
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 derivative instruments 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 December 31, 2021 December 31, 2020 Assets: Derivatives designated as accounting hedges: Cross-currency swaps designated as net investment hedges Other assets $ 53 $ — Interest rate swaps designated as fair value hedges Other assets 13 57 Total derivatives designated as accounting hedges 66 57 Derivatives not designated as accounting hedges: FX forwards on certain assets and liabilities Other current assets 1 31 Total assets $ 67 $ 88 Liabilities: Derivatives designated as accounting hedges: FX forwards designated as net investment hedges Accounts payable and accrued liabilities $ — $ 16 Cross-currency swaps designated as net investment hedges Accounts payable and accrued liabilities — 23 Cross-currency swaps designated as net investment hedges Other liabilities 17 144 Interest rate swaps designated as fair value hedges Other liabilities 23 1 Total derivatives designated as accounting hedges 40 184 Non-derivative instruments designated as accounting hedge: Long-term debt designated as net investment hedge Long-term debt 1,421 1,530 Derivatives not designated as accounting hedges: FX forwards on certain assets and liabilities Accounts payable and accrued liabilities 12 2 Total liabilities $ 1,473 $ 1,716

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and equipment, net consisted of: December 31, 2021 2020 Office and computer equipment (3 - 10 year estimated useful life) $ 300 $ 260 Office furniture and fixtures (3 - 10 year estimated useful life) 52 49 Internal-use computer software (1 - 10 year estimated useful life) 771 666 Leasehold improvements and building (1 - 20 year estimated useful life) 234 231 Total property and equipment, at cost 1,357 1,206 Less: accumulated depreciation and amortization (1,010) (928) Total property and equipment, net $ 347 $ 278

ACQUISITIONS AND DIVESTITURE (T

ACQUISITIONS AND DIVESTITURE (Tables)	12 Months Ended
	Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]
Schedule of Business Acquisitions, by Acquisition	The table below details the total consideration relating to the acquisition: Cash paid at closing $ 157 Additional consideration to be paid to sellers in 2022 (1) 1 Total consideration $ 158 (1) Represents additional consideration to be paid to the sellers following finalization of customary post-closing completion adjustments. The table below details the total consideration relating to the acquisition: Cash paid at closing $ 1,922 Replacement equity compensation awards 5 Total consideration $ 1,927 The table below details the total consideration relating to the acquisition: Cash paid at closing $ 138 Additional consideration paid to sellers in 2021 (1) 1 Total consideration $ 139 (1) Represents additional consideration paid to the sellers following finalization of customary post-closing completion adjustments. 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. The following table summarizes the aggregate fair value of the assets acquired and liabilities assumed as of the respective closing dates for each acquisition. (Amounts in millions) Current assets $ 5 Intangible assets: Customer relationships (18 year useful life) $ 47 Product technology (8 year useful life) 23 Database (10 year useful life) 8 Trade name (14 year useful life) 4 Total intangible assets (14 year weighted average life) 82 Goodwill 131 Other assets 3 Liabilities: Current liabilities $ (8) Long-term liabilities (8) Total liabilities (16) Net assets acquired $ 205
Summary of Fair Values of 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: Cash $ 10 Accounts receivable 1 Intangible assets: Product technology (5 year useful life) $ 14 Customer relationships (16 year useful life) 8 Trade name (4 year useful life) 1 Total intangible assets (9 year weighted average useful life) 23 Goodwill 138 Liabilities: Accounts payable and accrued liabilities $ (7) Deferred revenue (1) Deferred tax liabilities (6) Total liabilities (14) Net assets acquired $ 158 Shown below is the preliminary purchase price allocation, which summarizes the fair value of the assets and liabilities assumed, at the date of acquisition: Cash $ 60 Accounts receivable 38 Other current assets 11 Property and equipment 13 Operating lease right-of-use assets 64 Intangible assets: Customer relationships (23 year useful life) $ 518 Product technology (7 year useful life) 212 Trade name (9 year useful life) 49 Total intangible assets (18 year weighted average useful life) 779 Goodwill 1,376 Deferred tax assets, net 48 Other assets 99 Liabilities: Accounts payable and accrued liabilities $ (92) Deferred revenue (89) Operating lease liabilities (68) Deferred tax liabilities, net (214) Uncertain tax positions (96) Other liabilities (2) Total liabilities (561) Net assets acquired $ 1,927 Current assets $ 7 Intangible assets: Database (10 year useful life) $ 38 Customer relationships (18 year useful life) 9 Product technology (8 year useful life) 9 Trade name (5 year useful life) 1 Total intangible assets (11 year weighted average useful life) 57 Goodwill (1) 79 Deferred tax assets (1) 16 Other assets 2 Liabilities: Accounts payable and accrued liabilities $ (1) Deferred revenue (4) Deferred tax liabilities (15) Other liabilities (2) Total liabilities (22) Net assets acquired $ 139 (Amounts in millions) Current assets $ 24 Intangible assets: Customer relationships (25 year useful life) $ 174 Database (10 year useful life) 86 Product technology (4 year useful life) 17 Trade name (3 year useful 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
BvD Pro Forma Information	Supplemental information on an unaudited pro forma basis is presented below for the twelve months ended December 31, 2021 and 2020 as if the acquisition of RMS occurred on January 1, 2020. The pro forma financial information is presented for comparative purposes only, based on certain estimates and assumptions, which the Company believes to be reasonable but not necessarily indicative of future results of operations or the results that would have been reported if the acquisition had been completed at January 1, 2020. The unaudited pro forma information includes amortization of acquired intangible assets, based on the preliminary purchase price allocation and an estimate of useful lives reflected above, and incremental financing costs resulting from the acquisition, net of income tax, which was estimated using the weighted average statutory tax rates in effect in the jurisdiction for which the pro forma adjustment relates. Year Ended December 31, Unaudited 2021 2020 Pro forma Revenue $ 6,463 $ 5,667 Pro forma Net Income attributable to Moody's $ 2,244 $ 1,666

GOODWILL AND OTHER ACQUIRED I_2

GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Activity in Goodwill	The following table summarizes the activity in goodwill: Year Ended December 31, 2021 MIS MA Consolidated Gross Accumulated Net Gross Accumulated Net Gross Accumulated Net Balance at beginning of year $ 311 $ — $ 311 $ 4,257 $ (12) $ 4,245 $ 4,568 $ (12) $ 4,556 Additions/ adjustments (1) 90 — 90 1,525 — 1,525 1,615 — 1,615 Foreign currency translation adjustments (5) — (5) (167) — (167) (172) — (172) Ending Balance $ 396 $ — $ 396 $ 5,615 $ (12) $ 5,603 $ 6,011 $ (12) $ 5,999 Year Ended December 31, 2020 MIS MA Consolidated Gross Accumulated Net Gross Accumulated Net Gross Accumulated Net Balance at beginning of year $ 315 $ — $ 315 $ 3,419 $ (12) $ 3,407 $ 3,734 $ (12) $ 3,722 Additions/ adjustments (2) (2) — (2) 628 — 628 626 — 626 Foreign currency translation adjustments (2) — (2) 210 — 210 208 — 208 Ending balance $ 311 $ — $ 311 $ 4,257 $ (12) $ 4,245 $ 4,568 $ (12) $ 4,556 (1) The 2021 additions/adjustments for the MA segment in the table above relate to the acquisitions of Cortera, RMS, RealXData, Bogard, and PassFort. The 2021 additions/adjustments for the MIS segment relate to certain revenue synergies from the RMS acquisition that are expected to benefit the ESG solutions group within the MIS Other LOB. (2) The 2020 additions/adjustments for the MA segment in the table above relate to the acquisitions of RDC, AM, ZMFS, and Catylist.
Acquired Intangible Assets and Related Amortization	Acquired intangible assets and related accumulated amortization consisted of: December 31, 2021 2020 Customer relationships $ 2,101 $ 1,623 Accumulated amortization (381) (313) Net customer relationships 1,720 1,310 Software/product technology 663 441 Accumulated amortization (219) (177) Net software/product technology 444 264 Database 179 144 Accumulated amortization (46) (29) Net database 133 115 Trade names 207 161 Accumulated amortization (47) (38) Net trade names 160 123 Other (1) 54 55 Accumulated amortization (44) (43) Net other 10 12 Total $ 2,467 $ 1,824 (1) Other intangible assets primarily consist of trade secrets, 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: Year Ended December 31, 2021 2020 2019 Amortization expense $ 158 $ 124 $ 103
Estimated Future Amortization Expense for Acquired Intangible Assets Subject to Amortization	Estimated future annual amortization expense for intangible assets subject to amortization is as follows: Year Ending December 31, 2022 $ 191 2023 189 2024 185 2025 180 2026 177 Thereafter 1,545 Total estimated future amortization $ 2,467

RESTRUCTURING (Tables)

RESTRUCTURING (Tables)	12 Months Ended
	Dec. 31, 2021
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 Company's restructuring programs are as follows: Year Ended December 31, 2021 2020 2019 2018 Restructuring Program $ (2) $ (4) $ 60 2020 Real Estate Rationalization Restructuring Program — 36 — 2020 MA Strategic Reorganization Restructuring Program 2 18 — Total Restructuring $ — $ 50 $ 60
Changes to the Restructuring Liability	Cumulative expense incurred through December 31, 2021 Employee Termination Costs Contract Termination Costs 2018 Restructuring Program $ 55 $ 48 2020 Real Estate Rationalization Restructuring Program: $ — $ 36 2020 MA Strategic Reorganization Restructuring Program: $ 20 $ —

FAIR VALUE (Tables)

FAIR VALUE (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Financial Instruments Carried at Fair Value on Recurring Basis	The table below presents information about items which are carried at fair value on a recurring basis at December 31, 2021 and 2020: Fair value Measurement as of December 31, 2021 Description Balance Level 1 Level 2 Assets: Derivatives (1) $ 67 $ — $ 67 Mutual funds 73 73 — Total $ 140 $ 73 $ 67 Liabilities: Derivatives (1) $ 52 $ — $ 52 Total $ 52 $ — $ 52 Fair Value Measurement as of December 31, 2020 Description Balance Level 1 Level 2 Assets: Derivatives (1) $ 88 $ — $ 88 Mutual funds 60 60 — Total $ 148 $ 60 $ 88 Liabilities: Derivatives (1) $ 186 $ — $ 186 Total $ 186 $ — $ 186 (1) Represents FX forwards on certain assets and liabilities as well as interest rate swaps and cross-currency swaps as more fully described in Note 7 to the consolidated financial statements.

OTHER BALANCE SHEET INFORMATI_2

OTHER BALANCE SHEET INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2021
Other Balance Sheet Information [Abstract]
Additional Details Related to Certain Balance Sheet Captions	The following tables contain additional detail related to certain balance sheet captions: December 31, 2021 2020 Other current assets: Prepaid taxes $ 112 $ 94 Prepaid expenses 99 91 Capitalized costs to obtain and fulfill sales contracts 103 93 Foreign exchange forwards on certain assets and liabilities 1 31 Other 74 74 Total other current assets $ 389 $ 383 December 31, 2021 2020 Other assets: Investments in non-consolidated affiliates $ 443 $ 135 Deposits for real-estate leases 14 19 Indemnification assets related to acquisitions 106 15 Mutual funds and fixed deposits 89 66 Company owned life insurance (at contract value) 37 17 Costs to obtain sales contracts 138 134 Derivative instruments designated as accounting hedges 66 57 Pension and other retirement employee benefits 77 21 Other 64 51 Total other assets $ 1,034 $ 515 December 31, 2021 2020 Accounts payable and accrued liabilities: Salaries and benefits $ 211 $ 197 Incentive compensation 324 226 Customer credits, advanced payments and advanced billings 100 42 Dividends 6 11 Professional service fees 75 53 Interest accrued on debt 85 82 Accounts payable 47 39 Income taxes 115 128 Pension and other retirement employee benefits 7 45 Accrued royalties 36 19 Foreign exchange forwards on certain assets and liabilities 12 2 Restructuring liability 4 18 Derivative instruments designated as accounting hedges — 39 Other 120 138 Total accounts payable and accrued liabilities $ 1,142 $ 1,039 December 31, 2021 2020 Other liabilities: Pension and other retirement employee benefits $ 235 $ 244 Interest accrued on UTPs 59 113 MAKS indemnification provisions 33 33 Income tax liability – non-current portion 23 18 Derivative instruments designated as accounting hedges 40 145 Other 48 37 Total other liabilities $ 438 $ 590
Investments in and Advances to Affiliates	The following table provides additional detail regarding Moody's investments in non-consolidated affiliates, as included within other assets in the consolidated balance sheets: December 31, 2021 2020 Investments in non-consolidated affiliates: Equity method investments (1) $ 121 $ 118 Investments measured using the measurement alternative (2) 318 16 Other 4 1 Total investments in non-consolidated affiliates $ 443 $ 135 (1) Equity securities in which the Company has significant influence over the investee but does not have a controlling financial interest in accordance with ASC Topic 323 (2) Equity securities without readily determinable fair value for which the Company has elected to apply the measurement alternative in accordance with ASC Topic 321, which is more fully discussed in Note 2.

COMPREHENSIVE INCOME AND ACCU_2

COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Reclassifications out of AOCI	The following table provides details about the reclassifications out of AOCL: Year Ended December 31, Location in the consolidated 2021 2020 2019 Currency translation adjustment losses Sale of foreign subsidiaries $ — $ — $ (32) Loss pursuant to the divestiture of MAKS Total currency translation adjustment losses — — (32) Losses on cash flow hedges Interest rate contract (2) (3) — Other non-operating income, net Income tax effect of item above — 1 — Provision for income taxes Total net losses on cash flow hedges (2) (2) — Gains on net investment hedges Cross currency swaps — 1 — Other non-operating income, net FX forwards 2 — 3 Other non-operating income, net Total before income taxes 2 1 3 Income tax effect of item above (1) — (1) Provision for income taxes Total net gains on net investment hedges 1 1 2 Pension and other retirement benefits Amortization of actuarial losses and prior service costs included in net income (11) (6) (3) Other non-operating income, net Accelerated recognition of loss due to settlement (8) (2) — Other non-operating income, net Total before income taxes (19) (8) (3) Income tax effect of item above 5 2 1 Provision for income taxes Total pension and other retirement benefits (14) (6) (2) Total net losses included in Net Income attributable to reclassifications out of AOCL $ (15) $ (7) $ (32)
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 December 31, 2021 December 31, 2020 Net investment hedges FX forwards $ 29 $ 12 Cross currency swaps 19 (124) Long-term debt (27) (108) Total net investment hedges 21 (220) Cash flow hedges Interest rate contracts (49) (51) Cross-currency swap 2 2 Total cash flow hedges (47) (49) Total net (loss) gain in AOCL $ (26) $ (269) The following table shows changes in AOCL by component (net of tax): Year Ended December 31, 2021 Pension and Other Retirement Benefits Gains / (Losses) on Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Balance December 31, 2020 $ (118) $ (49) $ (45) $ (220) $ (432) Other comprehensive income/(loss) before reclassifications 55 — (290) 242 7 Amounts reclassified from AOCL 14 2 — (1) 15 Other comprehensive income/(loss) 69 2 (290) 241 22 Balance December 31, 2021 $ (49) $ (47) $ (335) $ 21 $ (410) Year Ended December 31, 2020 Pension and Other Retirement Benefits Gains / (Losses) on Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Balance December 31, 2019 $ (92) $ — $ (401) $ 54 $ (439) Other comprehensive income/(loss) before reclassifications (32) (51) 356 (273) — Amounts reclassified from AOCL 6 2 — (1) 7 Other comprehensive income/(loss) (26) (49) 356 (274) 7 Balance December 31, 2020 $ (118) $ (49) $ (45) $ (220) $ (432) Year Ended December 31, 2019 Pension and Other Retirement Benefits Gains / (Losses) on Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Balance December 31, 2018 $ (53) $ — $ (406) $ 33 $ (426) Adoption of ASU 2018-02 (17) — — (3) (20) Other comprehensive income/(loss) before reclassifications (24) — (27) 26 (25) Amounts reclassified from AOCL 2 — 32 (2) 32 Other comprehensive income/(loss) (39) — 5 21 (13) Balance December 31, 2019 $ (92) $ — $ (401) $ 54 $ (439)

PENSION AND OTHER RETIREMENT _2

PENSION AND OTHER RETIREMENT BENEFITS (Tables)	12 Months Ended
	Dec. 31, 2021
Retirement Benefits [Abstract]
Summary of Changes in Benefit Obligations and Fair Value of Plan Assets for Retirement Plans	Following is a summary of changes in benefit obligations and fair value of plan assets for the Retirement Plans for the years ended December 31: Pension Plans Other Retirement Plans 2021 2020 2021 2020 Change in benefit obligation: Benefit obligation, beginning of the period $ (663) $ (589) $ (48) $ (42) Service cost (19) (17) (4) (3) Interest cost (14) (17) (1) (1) Plan participants’ contributions — — (1) (1) Benefits paid 68 22 2 2 Actuarial (loss) gain (6) 6 (3) 2 Assumption changes 64 (68) 7 (5) Benefit obligation, end of the period $ (570) $ (663) $ (48) $ (48) Change in plan assets: Fair value of plan assets, beginning of the period $ 528 $ 395 $ — $ — Actual return on plan assets 34 45 — — Benefits paid (68) (22) (2) (2) Employer contributions 50 110 1 1 Plan participants’ contributions — — 1 1 Fair value of plan assets, end of the period $ 544 $ 528 $ — $ — Funded Status of the plans $ (26) $ (135) $ (48) $ (48) Amounts recorded on the consolidated balance sheets: Pension and retirement benefits asset – non current $ 74 $ 21 $ — $ — Pension and retirement benefits liability – current (5) (44) (1) (1) Pension and retirement benefits liability – non current (95) (112) (47) (47) Net amount recognized $ (26) $ (135) $ (48) $ (48) Accumulated benefit obligation, end of the period $ (524) $ (601)
Accumulated Benefit Obligation in Excess of Plan Assets	The following information is for those pension plans with an accumulated benefit obligation in excess of plan assets: December 31, 2021 2020 Aggregate projected benefit obligation $ 101 $ 156 Aggregate accumulated benefit obligation $ 86 $ 138
Summary of Pre-Tax Net Actuarial Losses and Prior Service Cost Recognized in AOCI	The following table summarizes the pre-tax net actuarial losses and prior service costs recognized in AOCL for the Company’s Retirement Plans as of December 31: Pension Plans Other Retirement Plans 2021 2020 2021 2020 Net actuarial losses $ (61) $ (144) $ (4) $ (8) Net prior service credits 3 3 — — Total recognized in AOCL – pretax $ (58) $ (141) $ (4) $ (8)
Components of Net Periodic Benefit Expense Related to Retirement Plans	Net periodic benefit expenses recognized for the Retirement Plans for years ended December 31: Pension Plans Other Retirement Plans 2021 2020 2019 2021 2020 2019 Components of net periodic expense Service cost $ 19 $ 17 $ 17 $ 4 $ 3 $ 3 Interest cost 14 17 21 1 1 1 Expected return on plan assets (27) (20) (20) — — — Amortization of net actuarial loss and prior service credits from earlier periods 11 7 4 1 — — Loss on settlement of pension obligations 8 2 — — — — Net periodic expense $ 25 $ 23 $ 22 $ 6 $ 4 $ 4
Summary of Pre-Tax Amounts Recorded in OCI	The following table summarizes the pre-tax amounts recorded in OCI related to the Company’s Retirement Plans for the years ended December 31: Pension Plans Other Retirement Plans 2021 2020 2019 2021 2020 2019 Amortization of net actuarial losses and prior service credit $ 11 $ 7 $ 4 $ 1 $ — $ — Settlement loss 8 2 — — — — Net actuarial (loss)/gain arising during the period 65 (37) (24) 4 (3) (6) Total recognized in OCI – pre-tax $ 84 $ (28) $ (20) $ 5 $ (3) $ (6)
Weighted-average Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Expenses	Weighted-average assumptions used to determine benefit obligations at December 31: Pension Plans Other Retirement Plans 2021 2020 2021 2020 Discount rate 2.60 % 2.24 % 2.65 % 2.30 % Rate of compensation increase 3.63 % 3.62 % — — Weighted-average assumptions used to determine net periodic benefit expense for years ended December 31: Pension Plans Other Retirement Plans 2021 2020 2019 2021 2020 2019 Discount rate 2.24 % 3.04 % 4.07 % 2.30 % 3.05 % 4.10 % Expected return on plan assets 5.45 % 4.45 % 5.65 % — — — Rate of compensation increase 3.62 % 3.64 % 3.69 % — — — Cash balance plan interest crediting rate 4.50 % 4.50 % 4.50 % — — —
Summary of Pension Plan Assets by Category Based on Hierarchy of Fair Value Measurements	Fair value of the assets in the Company’s funded pension plan by asset category at December 31, 2021 and 2020 are as follows: Fair Value Measurement as of December 31, 2021 Asset Category Balance Level 1 Level 2 Measured using NAV practical expedient (1) % of total Cash and cash equivalent $ 4 $ — $ 4 $ — 1 % Common/collective trust funds—equity securities U.S. large-cap 135 — 135 — 25 % U.S. small and mid-cap 23 — 23 — 4 % Emerging markets 27 — 27 — 5 % Total equity investments 185 — 185 — 34 % Emerging markets bond fund 30 — — 30 6 % Common/collective trust funds—fixed income securities Intermediate-term investment grade U.S. government/ corporate bonds 245 — 245 — 45 % Mutual funds U.S. Treasury Inflation-Protected Securities (TIPs) 24 24 — — 4 % Convertible securities 17 17 — — 3 % Private investment fund—high yield securities 14 — — 14 3 % Total fixed-income investments 330 41 245 44 61 % Other investment—private real estate fund 25 — — 25 4 % Total Assets $ 544 $ 41 $ 434 $ 69 100 % Fair Value Measurement as of December 31, 2020 Asset Category Balance Level 1 Level 2 Measured using NAV practical expedient (1) % of total Cash and cash equivalent $ 4 $ — $ 4 $ — 1 % Common/collective trust funds—equity securities U.S. large-cap 143 — 143 — 27 % U.S. small and mid-cap 28 — 28 — 5 % Emerging markets 32 — 32 — 6 % Total equity investments 203 — 203 — 38 % Emerging markets bond fund 32 — — 32 6 % Common/collective trust funds—fixed income securities Intermediate-term investment grade U.S. government/ corporate bonds 214 — 214 — 41 % Mutual funds U.S. Treasury Inflation-Protected Securities (TIPs) 23 23 — — 4 % Convertible securities 16 16 — — 3 % Private investment fund—high yield securities 12 — — 12 2 % Total fixed-income investments 297 39 214 44 56 % Other investment—private real estate debt fund 24 — — 24 5 % Total Assets $ 528 $ 39 $ 421 $ 68 100 % (1) Investments are measured using the net asset value per share (or its equivalent) practical expedient and have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit a reconciliation of the fair value hierarchy to the value of the total plan assets.
Estimated Future Benefits Payments for Retirement Plans	Estimated future benefits payments for the Retirement Plans are as follows as of year ended December 31, 2021: Year Ending December 31, Pension Plans Other Retirement Plans 2022 $ 21 $ 1 2023 23 2 2024 32 2 2025 26 2 2026 30 2 2027 - 2031 157 15

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS (Tables)	12 Months Ended
	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-Based Compensation Cost and Associated Tax Benefit	Presented below is a summary of the stock-based compensation expense and associated tax benefit in the accompanying Consolidated Statements of Operations: Year Ended December 31, 2021 2020 2019 Stock-based compensation expense $ 175 $ 154 $ 136 Tax benefit $ 42 $ 30 $ 29
Weighted Average Assumptions used in Determining Fair Value for Options Granted	The following weighted average assumptions were used for options granted (excluding the aforementioned RMS replacement awards): Year Ended December 31, 2021 2020 2019 Expected dividend yield 0.89 % 0.80 % 1.14 % Expected stock volatility 28 % 23 % 24 % Risk-free interest rate 0.82 % 1.43 % 2.56 % Expected holding period -in years 5.6 5.7 6.2 The following represents the fair value of the options at grant date, including RMS replacement option awards: Year Ended December 31, 2021 2020 2019 Weighted average grant date fair value per share (including RMS replacement option awards) $ 121.14 $ 60.66 $ 43.29
Share-based Payment Arrangement, Option and Stock Appreciation Rights, Activity	A summary of option activity as of December 31, 2021 and changes during the year then ended is presented below: Options Shares Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding, December 31, 2020 1.0 $ 132.80 Granted (including RMS replacement awards) 0.2 $ 249.99 Exercised (0.2) $ 101.03 Outstanding, December 31, 2021 1.0 $ 166.16 5.8 years $ 224 Vested and expected to vest, December 31, 2021 1.0 $ 165.26 5.7 years $ 221 Exercisable, December 31, 2021 0.6 $ 119.88 4.4 years $ 159
Stock Option Exercises and Restricted Stock Vesting	The following table summarizes information relating to stock option exercises: Year Ended December 31, 2021 2020 2019 Proceeds from stock option exercises $ 24 $ 39 $ 36 Aggregate intrinsic value $ 55 $ 132 $ 114 Tax benefit realized upon exercise $ 13 $ 32 $ 27
Non Vested Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity	A summary of nonvested restricted stock activity for the year ended December 31, 2021 is presented below: Nonvested Restricted Stock Shares Weighted Average Grant Date Fair Value Per Share Balance, December 31, 2020 1.5 $ 201.30 Granted (including RMS replacement awards) 0.7 $ 296.84 Vested (0.7) $ 177.96 Forfeited (0.1) $ 242.12 Balance, December 31, 2021 1.4 $ 253.85
Share-based Compensation Arrangements by Share-based Payment Award, Restricted Stock Units, Vested and Expected to Vest	The following table summarizes information relating to the vesting of restricted stock awards: Year Ended December 31, 2021 2020 2019 Fair value of shares vested $ 194 $ 202 $ 156 Tax benefit realized upon vesting $ 46 $ 46 $ 36
Performance Based Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity	A summary of performance-based restricted stock activity for the year ended December 31, 2021 is presented below: Performance-based restricted stock Shares Weighted Average Grant Date Fair Value Per Share Balance, December 31, 2020 0.3 $ 197.19 Granted 0.2 $ 329.71 Vested (0.1) $ 162.06 Balance, December 31, 2021 0.4 $ 266.89
Share-based Compensation Arrangements by Share-based Payment Award, Restricted Stock Units, Vested and Expected to Vest	The following table summarizes information relating to the vesting of the Company’s performance-based restricted stock awards: Year Ended December 31, 2021 2020 2019 Fair value of shares vested $ 28 $ 70 $ 47 Tax benefit realized upon vesting $ 7 $ 17 $ 11

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Provision for Income Taxes	Components of the Company’s income tax provision are as follows: Year Ended December 31, 2021 2020 2019 Current: Federal $ 404 $ 213 $ 179 State and Local 106 68 59 Non-U.S. 249 215 181 Total current 759 496 419 Deferred: Federal (172) 6 (19) State and Local (45) — (3) Non-U.S. (1) (50) (16) Total deferred (218) (44) (38) Total provision for income taxes $ 541 $ 452 $ 381
Reconciliation of United States Federal Statutory Tax Rate to Effective Tax Rate on Income before Provision for Income Taxes	A reconciliation of the U.S. federal statutory tax rate to the Company’s effective tax rate on income before provision for income taxes is as follows: Year Ended December 31, 2021 2020 2019 U.S. statutory tax rate 21.0 % 21.0 % 21.0 % State and local taxes, net of federal tax benefit 1.5 % 2.3 % 2.2 % Benefit of foreign operations (1.5) % (1.5) % (0.1) % Other (1.4) % (1.5) % (2.1) % Effective tax rate 19.6 % 20.3 % 21.0 % Income tax paid $ 932 $ 514 $ 458
Source of Income before Provision for Income Taxes	The source of income before provision for income taxes is as follows: Year Ended December 31, 2021 2020 2019 U.S. $ 1,563 $ 1,349 $ 1,039 Non-U.S. 1,192 880 771 Income before provision for income taxes $ 2,755 $ 2,229 $ 1,810
Components of Deferred Tax Assets and Liabilities	The components of deferred tax assets and liabilities are as follows: December 31, 2021 2020 Deferred tax assets: Account receivable allowances $ 8 $ 9 Accumulated depreciation and amortization 10 2 Stock-based compensation 50 42 Accrued compensation and benefits 101 99 Capitalized costs 33 39 Operating lease liabilities 134 122 Deferred revenue 252 30 Net operating loss 33 17 Restructuring 1 3 Uncertain tax positions 86 98 Self-insured related reserves 10 10 Loss on net investment hedges - OCI 11 93 Other 16 10 Total deferred tax assets 745 574 Deferred tax liabilities: Accumulated depreciation and amortization of intangible assets and capitalized software (659) (468) ROU Assets (102) (90) Capital Gains (31) (23) Self-insured related income (10) (10) Revenue Accounting Standard - ASC 606 (7) (10) Deferred tax on unremitted foreign earnings (12) (16) Gain on net investment hedges - OCI (4) (8) Other (6) (4) Total deferred tax liabilities (831) (629) Net deferred tax liabilities (86) (55) Valuation allowance (18) (15) Total net deferred tax liabilities $ (104) $ (70)
Reconciliation of Uncertain Tax Positions	A reconciliation of the beginning and ending amount of UTPs is as follows: Year Ended December 31, 2021 2020 2019 Balance as of January 1 $ 483 $ 477 $ 495 Additions for tax positions related to the current year 102 37 35 Additions for tax positions of prior years 18 17 22 Reductions for tax positions of prior years — (2) (2) Settlements with taxing authorities (134) (5) (1) Lapse of statute of limitations (81) (41) (44) Reclassification to indemnification liability related to MAKS divestiture — — (28) Balance as of December 31 $ 388 $ 483 $ 477

INDEBTEDNESS (Tables)

INDEBTEDNESS (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Summary of Total Indebtedness	The following table summarizes total indebtedness: December 31, 2021 Principal Amount Fair Value of Interest Rate Swaps (1) Unamortized (Discount) Premium Unamortized Debt Issuance Costs Carrying Value Notes Payable: 4.875% 2013 Senior Notes, due 2024 $ 500 $ — $ (1) $ (1) $ 498 5.25% 2014 Senior Notes, due 2044 600 (7) 3 (5) 591 1.75% 2015 Senior Notes, due 2027 568 — — (2) 566 2.625% 2017 Senior Notes, due 2023 500 5 — (1) 504 3.25% 2017 Senior Notes, due 2028 500 8 (3) (2) 503 4.25% 2018 Senior Notes, due 2029 400 — (2) (2) 396 4.875% 2018 Senior Notes, due 2048 400 (7) (6) (4) 383 0.950% 2019 Senior Notes, due 2030 853 — (2) (5) 846 3.75% 2020 Senior Notes, due 2025 700 (9) (1) (4) 686 3.25% 2020 Senior Notes, due 2050 300 — (4) (3) 293 2.55% 2020 Senior Notes, due 2060 500 — (4) (5) 491 2.00% 2021 Senior Notes, due 2031 600 — (8) (5) 587 2.75% 2021 Senior Notes, due 2041 600 — (13) (6) 581 3.10% 2021 Senior Notes, due 2061 500 — (7) (5) 488 Total long-term debt $ 7,521 $ (10) $ (48) $ (50) $ 7,413 December 31, 2020 Principal Amount Fair Value of Interest Rate Swaps (1) Unamortized (Discount) Premium Unamortized Debt Issuance Costs Carrying Value Notes Payable: 4.50% 2012 Senior Notes, due 2022 $ 500 $ 14 $ (1) $ (1) $ 512 4.875% 2013 Senior Notes, due 2024 500 — (1) (1) 498 5.25% 2014 Senior Notes, due 2044 600 — 3 (5) 598 1.75% 2015 Senior Notes due 2027 612 — — (2) 610 2.625% 2017 Senior Notes, due 2023 500 12 — (2) 510 3.25% 2017 Senior Notes, due 2028 500 31 (4) (3) 524 4.25% 2018 Senior Notes, due 2029 400 — (3) (3) 394 4.875% 2018 Senior Notes, due 2048 400 — (6) (4) 390 0.950% 2019 Senior Notes, due 2030 918 — (3) (6) 909 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 $ 6,430 $ 56 $ (24) $ (40) $ 6,422 (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.
Schedule of Credit Facilities	The following summarizes information relating to the Company's revolving credit facilities: December 31, 2021 December 31, 2020 Issue Date Capacity Maturity Drawn Undrawn Drawn Undrawn 2018 Credit Facility November 14, 2018 $ 1,000 November 13, 2023 (Terminated in 2021) $ — $ — $ — $ 1,000 2021 Credit Facility December 17, 2021 $ 1,250 December 17, 2026 $ — $ 1,250 $ — $ —
Principal Payments Due on Long-term Borrowings	The repayment schedule for the Company’s borrowings is as follows: Year Ending 2013 Senior Notes due 2024 2014 Senior Notes 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 2021 Senior Notes due 2031 2021 Senior Notes due 2041 2021 Senior Notes due 2061 Total 2022 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — 2023 — — — 500 — — — — — — — — — — $ 500 2024 500 — — — — — — — — — — — — — $ 500 2025 — — — — — — — — 700 — — — — — $ 700 2026 — — — — — — — — — — — — — — $ — Thereafter — 600 568 — 500 400 400 853 — 300 500 600 600 500 5,821 Total $ 500 $ 600 $ 568 $ 500 $ 500 $ 400 $ 400 $ 853 $ 700 $ 300 $ 500 $ 600 $ 600 $ 500 $ 7,521
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: Year Ended December 31, 2021 2020 2019 Expense on borrowings $ (185) $ (163) $ (176) Expense on UTPs and other tax related liabilities (1) 21 (34) (28) Net periodic pension costs—interest component (16) (19) (22) Income 9 11 17 Capitalized — — 1 Total $ (171) $ (205) $ (208) Interest paid (2) $ 162 $ 132 $ 167 (1) The amount for the year ended December 31, 2021 includes a $45 million benefit relating to the reversal of tax-related interest accruals pursuant to the resolution of tax matters. (2) Interest paid includes net settlements on interest rate swaps more fully discussed in Note 7.
Fair Value and Carrying Value of Long-term Debt	The fair value and carrying value of the Company’s debt as of December 31, 2021 and 2020 are as follows: December 31, 2021 December 31, 2020 Carrying Amount Estimated Fair Carrying Amount Estimated Fair 4.50% 2012 Senior Notes, due 2022 $ — $ — $ 512 $ 530 4.875% 2013 Senior Notes, due 2024 498 538 498 562 5.25% 2014 Senior Notes, due 2044 591 805 598 828 1.75% 2015 Senior Notes, due 2027 566 607 610 674 2.625% 2017 Senior Notes, due 2023 504 509 510 522 3.25% 2017 Senior Notes, due 2028 503 539 524 561 4.25% 2018 Senior Notes, due 2029 396 451 394 480 4.875% 2018 Senior Notes, due 2048 383 526 390 544 0.950% 2019 Senior Notes, due 2030 846 866 909 974 3.75% 2020 Senior Notes, due 2025 686 750 693 785 3.25% 2020 Senior Notes, due 2050 293 311 293 329 2.55% 2020 Senior Notes, due 2060 491 432 491 467 2.00% 2021 Senior Notes, due 2031 587 581 — — 2.75% 2021 Senior Notes, due 2041 581 579 — — 3.10% 2021 Senior Notes, due 2061 488 488 — — Total $ 7,413 $ 7,982 $ 6,422 $ 7,256

CAPITAL STOCK (Tables)

CAPITAL STOCK (Tables)	12 Months Ended
	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
Share Repurchase Programs	The table below summarizes the Company’s remaining authority under its share repurchase program as of December 31, 2021: Date Authorized Amount Authorized Remaining Authority February 9, 2021 $ 1,000 $ 1,000 December 16, 2019 $ 1,000 $ 81 Total Remaining Authority at December 31, 2021 $ 1,081
Dividends Paid	The Company’s cash dividends were: Dividends Per Share Year ended December 31, 2021 2020 2019 Declared Paid Declared Paid Declared Paid First quarter $ 0.62 $ 0.62 $ 0.56 $ 0.56 $ 0.50 $ 0.50 Second quarter 0.62 0.62 0.56 0.56 0.50 0.50 Third quarter 0.62 0.62 0.56 0.56 0.50 0.50 Fourth quarter 0.62 0.62 0.56 0.56 0.50 0.50 Total $ 2.48 $ 2.48 $ 2.24 $ 2.24 $ 2.00 $ 2.00

LEASE COMMITMENTS (Tables)

LEASE COMMITMENTS (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Components of Lease Cost	The following table presents the components of the Company’s lease cost: Year Ended December 31, 2021 2020 2019 Operating lease cost $ 98 $ 96 $ 97 Sublease income (6) (5) (2) Variable lease cost 19 19 17 Total lease cost $ 111 $ 110 $ 112
Schedule of Operating Leases Information	The following tables present other information related to the Company’s operating leases: Year Ended December 31, 2021 2020 2019 Cash paid for amounts included in the measurement of operating lease liabilities $ 113 $ 108 $ 106 Right-of-use assets obtained in exchange for new operating lease liabilities $ 137 $ 36 $ 41 Year Ended December 31, 2021 2020 2019 Weighted-average remaining lease term (in years) 5.6 6.0 6.8 Weighted-average discount rate applied to operating leases 3.1 % 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 December 31, 2021: Year Ending December 31, Operating Leases 2022 $ 121 2023 118 2024 109 2025 93 2026 74 Thereafter 95 Total lease payments (undiscounted) 610 Less: Interest 50 Present value of lease liabilities: $ 560 Lease liabilities - current $ 105 Lease liabilities - noncurrent $ 455

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Financial Information by Segment	The table below shows revenue 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. Year Ended December 31, 2021 2020 MIS MA Eliminations Consolidated MIS MA Eliminations Consolidated Revenue $ 3,977 $ 2,413 $ (172) $ 6,218 $ 3,440 $ 2,086 $ (155) $ 5,371 Operating, SG&A 1,503 1,786 (172) 3,117 1,387 1,472 (155) 2,704 Adjusted Operating Income 2,474 627 — 3,101 2,053 614 — 2,667 Depreciation and amortization 72 185 — 257 70 150 — 220 Restructuring (1) 1 — — 19 31 — 50 Loss pursuant to the divestiture of MAKS — — — — — 9 — 9 Operating Income $ 2,844 $ 2,388 Year Ended December 31, 2019 MIS MA Eliminations Consolidated Revenue $ 3,009 $ 1,963 $ (143) $ 4,829 Operating, SG&A 1,264 1,417 (143) 2,538 Adjusted Operating Income 1,745 546 — 2,291 Depreciation and amortization 71 129 — 200 Restructuring 31 29 — 60 Acquisition-Related Expenses — 3 — 3 Loss pursuant to the divestiture of MAKS — 14 — 14 Captive insurance company settlement 10 6 — 16 Operating income $ 1,998
Company's Reportable Segment Revenues Disaggregated by Segment and Geographic Region	CONSOLIDATED REVENUE AND LONG-LIVED ASSETS INFORMATION BY GEOGRAPHIC AREA Year Ended December 31, 2021 2020 2019 Revenue: U.S. $ 3,416 $ 2,955 $ 2,544 Non-U.S.: EMEA 1,866 1,545 1,446 Asia-Pacific 596 571 551 Americas 340 300 288 Total Non-U.S. 2,802 2,416 2,285 Total $ 6,218 $ 5,371 $ 4,829 Long-lived assets at December 31: U.S. $ 4,449 $ 2,162 $ 1,290 Non-U.S. 4,802 4,889 4,678 Total $ 9,251 $ 7,051 $ 5,968

VALUATION AND QUALIFYING ACCO_2

VALUATION AND QUALIFYING ACCOUNTS (Tables)	12 Months Ended
	Dec. 31, 2021
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Summary of Activity for Valuation Allowances	Below is a summary of activity: Year Ended December 31, Balance at Beginning of the Year Adoption of New Expected Credit Losses Accounting Standard Charged to costs and expenses Deductions (1) Balance at End of the Year 2021 Allowances for credit losses $ (34) $ — $ (13) $ 15 $ (32) Deferred tax assets—valuation allowance $ (15) $ — $ (4) $ 1 $ (18) 2020 Allowances for credit losses $ (20) $ (2) $ (26) $ 14 $ (34) Deferred tax assets—valuation allowance $ (9) $ — $ (6) $ — $ (15) 2019 Allowances for credit losses $ (20) $ — $ (10) $ 10 $ (20) Deferred tax assets—valuation allowance $ (5) $ — $ (4) $ — $ (9) (1) Reflects write-off of uncollectible accounts receivable or expiration of foreign net operating tax losses.

OTHER NON-OPERATING (EXPENSE)_2

OTHER NON-OPERATING (EXPENSE) INCOME, NET (Tables)	12 Months Ended
	Dec. 31, 2021
Other Income and Expenses [Abstract]
Components of Other Non-Operating Income	The following table summarizes the components of other non-operating income, net as presented in the consolidated statements of operations: Year Ended December 31, 2021 2020 2019 FX (loss) gain $ (1) $ 2 $ (18) Purchase price hedge loss (1) (13) — — Net periodic pension costs—other components (2) 9 13 18 Income from investments in non-consolidated affiliates (3) 60 6 13 Other 27 25 7 Total $ 82 $ 46 $ 20 (1) Reflects a loss on a forward contract to hedge a portion of the RMS British pound-denominated purchase price. (2) The amount for the year ended December 31, 2021 includes an $8 million loss related to a settlement of pension obligations. (3) The amount for the year ended December 31, 2021 includes a $36 million non-cash gain relating to the exchange of Moody’s minority investment in VisibleRisk (accounted for under the equity method) for shares of BitSight, a cybersecurity ratings company.

Description of Business and B_2

Description of Business and Basis of Presentation - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)segment	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of reportable segments | segment	2
Shareholders' equity	$ 2,916	$ 1,763	$ 831	$ 656
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Shareholders' equity	$ 12,762	$ 11,011	9,656	$ 8,594
Retained Earnings | Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Shareholders' equity			$ (2)

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2021reportingUnitcustomer	Dec. 31, 2020customer
Capitalized Contract Cost [Line Items]
Number of reporting units	4
Number of customers greater than 10% or more of accounts receivable | customer	0	0
MIS
Capitalized Contract Cost [Line Items]
Number of reporting units	2
MA
Capitalized Contract Cost [Line Items]
Number of reporting units	2
Subscription and Maintenance Contracts | MA | Minimum
Capitalized Contract Cost [Line Items]
Revenue, contractual coverage period (years)	3 years
General customer contract payment condition (days)	30 days
Subscription and Maintenance Contracts | MA | Maximum
Capitalized Contract Cost [Line Items]
Revenue, contractual coverage period (years)	5 years
General customer contract payment condition (days)	60 days

Revenues - Revenue by Category

Revenues - Revenue by Category (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 6,218	$ 5,371	$ 4,829
Eliminations
Disaggregation of Revenue [Line Items]
Revenue	(172)	(155)	(143)
MIS
Disaggregation of Revenue [Line Items]
Revenue	3,812	3,292	2,875
MIS | Eliminations
Disaggregation of Revenue [Line Items]
Revenue	165	148	134
MIS | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	3,977	3,440	3,009
MIS | Corporate finance (CFG)
Disaggregation of Revenue [Line Items]
Revenue	2,087	1,857	1,497
MIS | Corporate finance (CFG) | Investment-grade
Disaggregation of Revenue [Line Items]
Revenue	439	636	379
MIS | Corporate finance (CFG) | High-yield
Disaggregation of Revenue [Line Items]
Revenue	411	352	258
MIS | Corporate finance (CFG) | Bank loans
Disaggregation of Revenue [Line Items]
Revenue	606	287	313
MIS | Corporate finance (CFG) | Other accounts
Disaggregation of Revenue [Line Items]
Revenue	631	582	547
MIS | Financial institutions (FIG)
Disaggregation of Revenue [Line Items]
Revenue	602	530	476
MIS | Financial institutions (FIG) | Banking
Disaggregation of Revenue [Line Items]
Revenue	411	355	320
MIS | Financial institutions (FIG) | Insurance
Disaggregation of Revenue [Line Items]
Revenue	145	137	119
MIS | Financial institutions (FIG) | Managed investments
Disaggregation of Revenue [Line Items]
Revenue	36	28	25
MIS | Financial institutions (FIG) | Other accounts
Disaggregation of Revenue [Line Items]
Revenue	10	10	12
MIS | Public, project and infrastructure finance (PPIF)
Disaggregation of Revenue [Line Items]
Revenue	521	496	446
MIS | Public, project and infrastructure finance (PPIF) | Public finance / sovereign
Disaggregation of Revenue [Line Items]
Revenue	244	250	222
MIS | Public, project and infrastructure finance (PPIF) | Project and infrastructure
Disaggregation of Revenue [Line Items]
Revenue	277	246	224
MIS | Structured finance (SFG)
Disaggregation of Revenue [Line Items]
Revenue	560	362	427
MIS | Structured finance (SFG) | Other accounts
Disaggregation of Revenue [Line Items]
Revenue	2	2	4
MIS | Structured finance (SFG) | Asset-backed securities
Disaggregation of Revenue [Line Items]
Revenue	118	98	99
MIS | Structured finance (SFG) | RMBS
Disaggregation of Revenue [Line Items]
Revenue	123	96	95
MIS | Structured finance (SFG) | CMBS
Disaggregation of Revenue [Line Items]
Revenue	102	61	81
MIS | Structured finance (SFG) | Structured credit
Disaggregation of Revenue [Line Items]
Revenue	215	105	148
MIS | Rating Revenue
Disaggregation of Revenue [Line Items]
Revenue	3,770	3,245	2,846
MIS | MIS Other
Disaggregation of Revenue [Line Items]
Revenue	42	47	29
MA
Disaggregation of Revenue [Line Items]
Revenue	2,406	2,079	1,954
MA | Eliminations
Disaggregation of Revenue [Line Items]
Revenue	7	7	9
MA | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	2,413	2,086	1,963
MA | Research, data and analytics (RD&A)
Disaggregation of Revenue [Line Items]
Revenue	1,745	1,514	1,273
MA | Enterprise risk solutions (ERS)
Disaggregation of Revenue [Line Items]
Revenue	661	565	522
MA | Professional Services
Disaggregation of Revenue [Line Items]
Revenue	$ 0	$ 0	$ 159

Revenues - Revenues Disaggregat

Revenues - Revenues Disaggregated by Line of Business and Geographical Area (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 6,218	$ 5,371	$ 4,829
U.S.
Disaggregation of Revenue [Line Items]
Revenue	3,416	2,955	2,544
Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	2,802	2,416	2,285
MIS
Disaggregation of Revenue [Line Items]
Revenue	3,812	3,292	2,875
MIS | U.S.
Disaggregation of Revenue [Line Items]
Revenue	2,344	2,068	1,721
MIS | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	1,468	1,224	1,154
MIS | Rating Revenue
Disaggregation of Revenue [Line Items]
Revenue	3,770	3,245	2,846
MIS | Rating Revenue | U.S.
Disaggregation of Revenue [Line Items]
Revenue	2,341	2,066	1,720
MIS | Rating Revenue | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	1,429	1,179	1,126
MIS | Corporate finance (CFG)
Disaggregation of Revenue [Line Items]
Revenue	2,087	1,857	1,497
MIS | Corporate finance (CFG) | U.S.
Disaggregation of Revenue [Line Items]
Revenue	1,384	1,291	968
MIS | Corporate finance (CFG) | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	703	566	529
MIS | Financial institutions (FIG)
Disaggregation of Revenue [Line Items]
Revenue	602	530	476
MIS | Financial institutions (FIG) | U.S.
Disaggregation of Revenue [Line Items]
Revenue	289	250	200
MIS | Financial institutions (FIG) | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	313	280	276
MIS | Public, project and infrastructure finance (PPIF)
Disaggregation of Revenue [Line Items]
Revenue	521	496	446
MIS | Public, project and infrastructure finance (PPIF) | U.S.
Disaggregation of Revenue [Line Items]
Revenue	304	311	282
MIS | Public, project and infrastructure finance (PPIF) | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	217	185	164
MIS | Structured finance (SFG)
Disaggregation of Revenue [Line Items]
Revenue	560	362	427
MIS | Structured finance (SFG) | U.S.
Disaggregation of Revenue [Line Items]
Revenue	364	214	270
MIS | Structured finance (SFG) | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	196	148	157
MIS | MIS Other
Disaggregation of Revenue [Line Items]
Revenue	42	47	29
MIS | MIS Other | U.S.
Disaggregation of Revenue [Line Items]
Revenue	3	2	1
MIS | MIS Other | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	39	45	28
MA
Disaggregation of Revenue [Line Items]
Revenue	2,406	2,079	1,954
MA | U.S.
Disaggregation of Revenue [Line Items]
Revenue	1,072	887	823
MA | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	1,334	1,192	1,131
MA | Research, data and analytics (RD&A)
Disaggregation of Revenue [Line Items]
Revenue	1,745	1,514	1,273
MA | Research, data and analytics (RD&A) | U.S.
Disaggregation of Revenue [Line Items]
Revenue	758	668	558
MA | Research, data and analytics (RD&A) | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	987	846	715
MA | Enterprise risk solutions (ERS)
Disaggregation of Revenue [Line Items]
Revenue	661	565	522
MA | Enterprise risk solutions (ERS) | U.S.
Disaggregation of Revenue [Line Items]
Revenue	314	219	201
MA | Enterprise risk solutions (ERS) | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	347	346	321
MA | Professional Services
Disaggregation of Revenue [Line Items]
Revenue	0	0	159
MA | Professional Services | U.S.
Disaggregation of Revenue [Line Items]
Revenue	0	0	64
MA | Professional Services | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	$ 0	$ 0	$ 95

Revenues - Consolidated Revenue

Revenues - Consolidated Revenue Information by Geographic Area (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Revenue	$ 6,218	$ 5,371	$ 4,829
MIS
Segment Reporting Information [Line Items]
Revenue	3,812	3,292	2,875
MA
Segment Reporting Information [Line Items]
Revenue	2,406	2,079	1,954
U.S.
Segment Reporting Information [Line Items]
Revenue	3,416	2,955	2,544
U.S. | MIS
Segment Reporting Information [Line Items]
Revenue	2,344	2,068	1,721
U.S. | MA
Segment Reporting Information [Line Items]
Revenue	1,072	887	823
Non-U.S.
Segment Reporting Information [Line Items]
Revenue	2,802	2,416	2,285
Non-U.S. | MIS
Segment Reporting Information [Line Items]
Revenue	1,468	1,224	1,154
Non-U.S. | MA
Segment Reporting Information [Line Items]
Revenue	1,334	1,192	1,131
EMEA
Segment Reporting Information [Line Items]
Revenue	1,866	1,545	1,446
EMEA | MIS
Segment Reporting Information [Line Items]
Revenue	930	727	686
EMEA | MA
Segment Reporting Information [Line Items]
Revenue	936	818	760
Asia-Pacific
Segment Reporting Information [Line Items]
Revenue	596	571	551
Asia-Pacific | MIS
Segment Reporting Information [Line Items]
Revenue	357	345	320
Asia-Pacific | MA
Segment Reporting Information [Line Items]
Revenue	239	226	231
Americas
Segment Reporting Information [Line Items]
Revenue	340	300	288
Americas | MIS
Segment Reporting Information [Line Items]
Revenue	181	152	148
Americas | MA
Segment Reporting Information [Line Items]
Revenue	$ 159	$ 148	$ 140

Revenues - Transaction and Rela

Revenues - Transaction and Relationship Revenue (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 6,218	$ 5,371	$ 4,829
Percentage of Revenues	100.00%	100.00%	100.00%
MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 3,812	$ 3,292	$ 2,875
Percentage of Revenues	100.00%	100.00%	100.00%
MA
Disaggregation of Revenue [Line Items]
Revenue	$ 2,406	$ 2,079	$ 1,954
Percentage of Revenues	100.00%	100.00%	100.00%
Corporate finance (CFG) | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 2,087	$ 1,857	$ 1,497
Percentage of Revenues	100.00%	100.00%	100.00%
Structured finance (SFG) | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 560	$ 362	$ 427
Percentage of Revenues	100.00%	100.00%	100.00%
Financial institutions (FIG) | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 602	$ 530	$ 476
Percentage of Revenues	100.00%	100.00%	100.00%
Public, project and infrastructure finance (PPIF) | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 521	$ 496	$ 446
Percentage of Revenues	100.00%	100.00%	100.00%
MIS Other | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 42	$ 47	$ 29
Percentage of Revenues	100.00%	100.00%	100.00%
Research, data and analytics (RD&A) | MA
Disaggregation of Revenue [Line Items]
Revenue	$ 1,745	$ 1,514	$ 1,273
Percentage of Revenues	100.00%	100.00%	100.00%
Enterprise risk solutions (ERS) | MA
Disaggregation of Revenue [Line Items]
Revenue	$ 661	$ 565	$ 522
Percentage of Revenues	100.00%	100.00%	100.00%
Professional Services | MA
Disaggregation of Revenue [Line Items]
Revenue	$ 0	$ 0	$ 159
Percentage of Revenues	0.00%	0.00%	100.00%
Transaction Revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 2,810	$ 2,379	$ 2,102
Percentage of Revenues	45.00%	44.00%	44.00%
Transaction Revenue | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 2,640	$ 2,182	$ 1,809
Percentage of Revenues	69.00%	66.00%	63.00%
Transaction Revenue | MA
Disaggregation of Revenue [Line Items]
Revenue	$ 170	$ 197	$ 293
Percentage of Revenues	7.00%	9.00%	15.00%
Transaction Revenue | Corporate finance (CFG) | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 1,600	$ 1,401	$ 1,057
Percentage of Revenues	77.00%	75.00%	71.00%
Transaction Revenue | Structured finance (SFG) | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 362	$ 175	$ 246
Percentage of Revenues	65.00%	48.00%	58.00%
Transaction Revenue | Financial institutions (FIG) | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 320	$ 265	$ 212
Percentage of Revenues	53.00%	50.00%	45.00%
Transaction Revenue | Public, project and infrastructure finance (PPIF) | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 354	$ 337	$ 292
Percentage of Revenues	68.00%	68.00%	65.00%
Transaction Revenue | MIS Other | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 4	$ 4	$ 2
Percentage of Revenues	10.00%	9.00%	7.00%
Transaction Revenue | Research, data and analytics (RD&A) | MA
Disaggregation of Revenue [Line Items]
Revenue	$ 91	$ 80	$ 16
Percentage of Revenues	5.00%	5.00%	1.00%
Transaction Revenue | Enterprise risk solutions (ERS) | MA
Disaggregation of Revenue [Line Items]
Revenue	$ 79	$ 117	$ 118
Percentage of Revenues	12.00%	21.00%	23.00%
Transaction Revenue | Professional Services | MA
Disaggregation of Revenue [Line Items]
Revenue	$ 0	$ 0	$ 159
Percentage of Revenues	0.00%	0.00%	100.00%
Relationship Revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 3,408	$ 2,992	$ 2,727
Percentage of Revenues	55.00%	56.00%	56.00%
Relationship Revenue | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 1,172	$ 1,110	$ 1,066
Percentage of Revenues	31.00%	34.00%	37.00%
Relationship Revenue | MA
Disaggregation of Revenue [Line Items]
Revenue	$ 2,236	$ 1,882	$ 1,661
Percentage of Revenues	93.00%	91.00%	85.00%
Relationship Revenue | Corporate finance (CFG) | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 487	$ 456	$ 440
Percentage of Revenues	23.00%	25.00%	29.00%
Relationship Revenue | Structured finance (SFG) | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 198	$ 187	$ 181
Percentage of Revenues	35.00%	52.00%	42.00%
Relationship Revenue | Financial institutions (FIG) | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 282	$ 265	$ 264
Percentage of Revenues	47.00%	50.00%	55.00%
Relationship Revenue | Public, project and infrastructure finance (PPIF) | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 167	$ 159	$ 154
Percentage of Revenues	32.00%	32.00%	35.00%
Relationship Revenue | MIS Other | MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 38	$ 43	$ 27
Percentage of Revenues	90.00%	91.00%	93.00%
Relationship Revenue | Research, data and analytics (RD&A) | MA
Disaggregation of Revenue [Line Items]
Revenue	$ 1,654	$ 1,434	$ 1,257
Percentage of Revenues	95.00%	95.00%	99.00%
Relationship Revenue | Enterprise risk solutions (ERS) | MA
Disaggregation of Revenue [Line Items]
Revenue	$ 582	$ 448	$ 404
Percentage of Revenues	88.00%	79.00%	77.00%
Relationship Revenue | Professional Services | MA
Disaggregation of Revenue [Line Items]
Revenue	$ 0	$ 0	$ 0
Percentage of Revenues	0.00%	0.00%	0.00%

Revenues - Revenue Recognition

Revenues - Revenue Recognition Timing (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Revenue recognized	$ 6,218	$ 5,371	$ 4,829
At Point in Time
Disaggregation of Revenue [Line Items]
Revenue recognized	2,741	2,303	1,941
Over Time
Disaggregation of Revenue [Line Items]
Revenue recognized	3,477	3,068	2,888
MIS
Disaggregation of Revenue [Line Items]
Revenue recognized	3,812	3,292	2,875
MIS | At Point in Time
Disaggregation of Revenue [Line Items]
Revenue recognized	2,640	2,182	1,809
MIS | Over Time
Disaggregation of Revenue [Line Items]
Revenue recognized	1,172	1,110	1,066
MA
Disaggregation of Revenue [Line Items]
Revenue recognized	2,406	2,079	1,954
MA | At Point in Time
Disaggregation of Revenue [Line Items]
Revenue recognized	101	121	132
MA | Over Time
Disaggregation of Revenue [Line Items]
Revenue recognized	$ 2,305	$ 1,958	$ 1,822

Revenues - Additional Informati

Revenues - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
MIS
Disaggregation of Revenue [Line Items]
Unbilled Receivables	$ 386	$ 361
MA
Disaggregation of Revenue [Line Items]
Unbilled Receivables	$ 152	$ 98

Revenues - Schedule of Changes

Revenues - Schedule of Changes in the Deferred Revenue Balances (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Change in Contract with Customer, Liability [Abstract]
Beginning Balance	$ 1,187	$ 1,162	$ 1,075
Revenue recognized that was included in the deferred revenue balance at the beginning of the period	(1,030)	(1,029)	(923)
Increases due to amounts billable excluding amounts recognized as revenue during the period	1,091	1,007	991
Increases due to acquisitions during the period	94	24	9
Effect of exchange rate changes	(7)	23	10
Total changes in deferred revenue	148	25	87
Ending Balance	1,335	1,187	1,162
Deferred revenue - current	1,249	1,089	1,050
Deferred revenue - noncurrent	86	98	112
MIS
Change in Contract with Customer, Liability [Abstract]
Beginning Balance	313	322	325
Revenue recognized that was included in the deferred revenue balance at the beginning of the period	(220)	(229)	(209)
Increases due to amounts billable excluding amounts recognized as revenue during the period	207	215	202
Increases due to acquisitions during the period	0	0	3
Effect of exchange rate changes	(4)	5	1
Total changes in deferred revenue	(17)	(9)	(3)
Ending Balance	296	313	322
Deferred revenue - current	214	216	214
Deferred revenue - noncurrent	82	97	108
MA
Change in Contract with Customer, Liability [Abstract]
Beginning Balance	874	840	750
Revenue recognized that was included in the deferred revenue balance at the beginning of the period	(810)	(800)	(714)
Increases due to amounts billable excluding amounts recognized as revenue during the period	884	792	789
Increases due to acquisitions during the period	94	24	6
Effect of exchange rate changes	(3)	18	9
Total changes in deferred revenue	165	34	90
Ending Balance	1,039	874	840
Deferred revenue - current	1,035	873	836
Deferred revenue - noncurrent	$ 4	$ 1	$ 4

Revenues - Expected Recognition

Revenues - Expected Recognition Period for Remaining Performance Obligations (Detail) $ in Millions	Dec. 31, 2021USD ($)
MIS
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 112
MIS | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
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]: 2023-01-01
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	$ 3,000
MA | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	65.00%
Revenue, remaining performance obligation, period	1 year
MA | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	25.00%
Revenue, remaining performance obligation, period	1 year

Revenues - Costs to Fulfill a C

Revenues - Costs to Fulfill a Contract with a Customer (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Capitalized Costs To Fulfill Sales Contracts | Operating Expense
Disaggregation of Revenue [Line Items]
Capitalized contract cost, amortization	$ 124	$ 113	$ 98
Capitalized Costs To Fulfill Sales Contracts | Selling, General and Administrative Expenses
Disaggregation of Revenue [Line Items]
Deferred cost balance	58	47
MA | Capitalized Costs To Obtain Sales Contracts
Disaggregation of Revenue [Line Items]
Deferred cost balance	183	180
MA | Capitalized Costs To Obtain Sales Contracts | Selling, General and Administrative Expenses
Disaggregation of Revenue [Line Items]
Capitalized contract cost, amortization	60	59	53
MA | Capitalized Costs To Fulfill Sales Contracts | Selling, General and Administrative Expenses
Disaggregation of Revenue [Line Items]
Deferred cost balance	44	35
MA | Royalty Cost | Operating Expense
Disaggregation of Revenue [Line Items]
Capitalized contract cost, amortization	76	66	56
MIS | Capitalized Costs To Fulfill Sales Contracts | Selling, General and Administrative Expenses
Disaggregation of Revenue [Line Items]
Deferred cost balance	14	12
MIS | Capitalization of Work-In-Process for In-Progress Ratings | Operating Expense
Disaggregation of Revenue [Line Items]
Capitalized contract cost, amortization	$ 48	$ 47	$ 42

Reconciliation of Weighted Av_3

Reconciliation of Weighted Average Shares Outstanding - Reconciliation of Basic to Diluted Shares Outstanding (Detail) - shares shares in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Basic (in shares)	186.4	187.6	189.3
Dilutive effect of shares issuable under stock-based compensation plans (in shares)	1.5	1.7	2.3
Diluted (in shares)	187.9	189.3	191.6
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)	0.2	0.2	0.2

Accelerated Share Repurchase _2

Accelerated Share Repurchase Program - Additional Information (Details) - USD ($) $ / shares in Units, shares in Millions	Apr. 26, 2019	Feb. 20, 2019	Dec. 31, 2021
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 stock, shares, acquired (in shares)			2.8
February 20, 2019
Accelerated Share Repurchases [Line Items]
Accelerated share repurchases, total Value committed to repurchase		$ 500,000,000
Accelerated share repurchases payment		$ 500,000,000
February 20, 2019 | Accelerated Share Repurchases
Accelerated Share Repurchases [Line Items]
Treasury stock, shares, acquired (in shares)		2.2
April 26, 2019 | Accelerated Share Repurchases
Accelerated Share Repurchases [Line Items]
Treasury stock, shares, acquired (in shares)	0.6

Cash Equivalents and Investme_3

Cash Equivalents and Investments (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash and Cash Equivalents [Line Items]
Fair Value	$ 73	$ 60
Cash and cash equivalents	1,811	2,597
Short-term investments	91	99
Certificates of deposit and money market deposit accounts
Cash and Cash Equivalents [Line Items]
Cost	691	1,430
Gross Unrealized Gains	0	0
Fair Value	691	1,430
Cash and cash equivalents	584	1,325
Short-term investments	91	99
Other assets	16	6
Mutual funds
Cash and Cash Equivalents [Line Items]
Cost	65	54
Gross Unrealized Gains	8	6
Fair Value	73	60
Cash and cash equivalents	0	0
Short-term investments	0	0
Other assets	$ 73	$ 60

Cash Equivalents and Investme_4

Cash Equivalents and Investments (Footnote) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash and Cash Equivalents [Line Items]
Company owned life insurance (at contract value)	$ 37	$ 17
Short-term Investments | Certificates of deposit and money market deposit accounts | Minimum
Cash and Cash Equivalents [Line Items]
Securities maturity period	1 month	1 month
Short-term Investments | Certificates of deposit and money market deposit accounts | Maximum
Cash and Cash Equivalents [Line Items]
Securities maturity period	12 months	12 months
Other assets | Certificates of deposit and money market deposit accounts | Minimum
Cash and Cash Equivalents [Line Items]
Securities maturity period	13 months	13 months
Other assets | Certificates of deposit and money market deposit accounts | Maximum
Cash and Cash Equivalents [Line Items]
Securities maturity period	29 months	23 months
Cash and cash equivalent | Certificates of deposit and money market deposit accounts | Maximum
Cash and Cash Equivalents [Line Items]
Securities maturity period	90 days

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	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Derivative [Line Items]
Notional Amount	$ 1,650	$ 1,380
2012 Senior Notes due 2022(1)
Derivative [Line Items]
Nature of Swap	Pay Floating/Receive Fixed
Notional Amount	$ 0	330
Floating Interest Rate	3-month 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 LIBOR
2017 Senior Notes due 2028
Derivative [Line Items]
Nature of Swap	Pay Floating/Receive Fixed
Notional Amount	$ 500	500
Floating Interest Rate	3-month LIBOR
2020 Senior Notes due 2025
Derivative [Line Items]
Nature of Swap	Pay Floating/Receive Fixed
Notional Amount	$ 300	300
Floating Interest Rate	6-month LIBOR
2014 Senior Notes due 2044(2)
Derivative [Line Items]
Nature of Swap	Pay Floating/Receive Fixed
Notional Amount	$ 300	0
Floating Interest Rate	3-month LIBOR
2018 Senior Notes due 2048(2)
Derivative [Line Items]
Nature of Swap	Pay Floating/Receive Fixed
Notional Amount	$ 300	$ 0
Floating Interest Rate	3-month 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	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Interest expense, net	$ (171)	$ (205)	$ (208)
Net interest settlements and accruals on interest rate swaps	(13)	0	0
Designated as Hedging Instrument | Interest Rate Swap | Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Fair value changes on interest rate swaps	(60)	47	25
Fair value changes on hedged debt	60	(47)	(25)
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	$ 23	$ 19	$ 3

Derivative Instruments And He_5

Derivative Instruments And Hedging Activities - Additional Information (Detail) £ in Millions	1 Months Ended	12 Months Ended
	Jan. 31, 2020USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2021EUR (€)	Dec. 31, 2021GBP (£)	Dec. 31, 2020USD ($)	Apr. 30, 2020USD ($)
Derivative [Line Items]
Accumulated other comprehensive loss		$ 410,000,000			$ 432,000,000
Designated as Hedging Instrument
Derivative [Line Items]
Accumulated other comprehensive loss		26,000,000			269,000,000
Not Designated as Accounting Hedges | RMS | Other non-operating expense, net
Derivative [Line Items]
Notional Amount		1,675,000,000		£ 1,200
Not Designated as Accounting Hedges | Forward Contracts
Derivative [Line Items]
Foreign exchange forwards amount of gain (loss) recognized in income		(13,000,000)
Net Investment Hedging | Designated as Hedging Instrument
Derivative [Line Items]
Accumulated other comprehensive loss		(21,000,000)			220,000,000
Net Investment Hedging | Designated as Hedging Instrument | Cross currency swaps
Derivative [Line Items]
Notional Amount | €			€ 2,088,000,000
Accumulated other comprehensive loss		(19,000,000)			124,000,000
Cash Flow Hedging | Forward Contracts
Derivative [Line Items]
Accumulated other comprehensive loss						$ 68,000,000
Cash Flow Hedging | Designated as Hedging Instrument
Derivative [Line Items]
Accumulated other comprehensive loss		47,000,000			49,000,000
Cash Flow Hedging | Designated as Hedging Instrument | Cross currency swaps
Derivative [Line Items]
Accumulated other comprehensive loss		$ (2,000,000)			$ (2,000,000)
Cash Flow Hedging | Designated as Hedging Instrument | Forward Contracts
Derivative [Line Items]
Notional Amount	$ 300,000,000
Derivative, forward interest rate	2.0103%
Term	30 years
2015 Senior Notes, due 2027
Derivative [Line Items]
Senior unsecured notes, interest		1.75%	1.75%	1.75%	1.75%
2015 Senior Notes, due 2027 | Net Investment Hedging | Designated as Hedging Instrument | Cross currency swaps
Derivative [Line Items]
Notional Amount | €			€ 500,000,000
2019 Senior Notes, due 2030
Derivative [Line Items]
Senior unsecured notes, interest		0.95%	0.95%	0.95%	0.95%
2019 Senior Notes, due 2030 | Net Investment Hedging | Designated as Hedging Instrument | Cross currency swaps
Derivative [Line Items]
Notional Amount | €			€ 750,000,000
3.25% 2020 Senior Notes, due 2050
Derivative [Line Items]
Senior unsecured notes, interest		3.25%	3.25%	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 swaps - Net Investment Hedging € in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2021EUR (€)	Dec. 31, 2020EUR (€)
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 | €			€ 2,088	€ 2,038
Currency Paid | 1.43%
Derivative [Line Items]
Notional Amount | €			€ 909	€ 1,079
Weighted Average Interest Rate	2.16%	1.43%	2.16%	1.43%
Currency Paid | 3-month EURIBOR
Derivative [Line Items]
Notional Amount | €			€ 1,179	€ 959
Weighted Average Floating Interest Rate	Based on 3-month EURIBOR	Based on 3-month EURIBOR
Currency Received
Derivative [Line Items]
Notional Amount | $	$ 2,400	$ 2,300
Currency Received | 3.96%
Derivative [Line Items]
Notional Amount | $	$ 1,050	$ 1,220
Weighted Average Interest Rate	4.45%	3.96%	4.45%	3.96%
Currency Received | 3-month U.S. LIBOR
Derivative [Line Items]
Notional Amount | $	$ 1,350	$ 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 - Schedule of Notional Amount of Net Investment Hedges (Detail) - Designated as Hedging Instrument - Cross currency swaps € in Millions	Dec. 31, 2021EUR (€)
Net Investment Hedging
Derivative [Line Items]
Notional Amount	€ 2,088
2023
Derivative [Line Items]
Notional Amount	442
2024
Derivative [Line Items]
Notional Amount	443
2026
Derivative [Line Items]
Notional Amount	450
2027
Derivative [Line Items]
Notional Amount	246
2028
Derivative [Line Items]
Notional Amount	€ 507

Derivative Instruments And He_8

Derivative Instruments And Hedging Activities - Summary of Notional Amounts of Outstanding Forward Contracts Designated as a Net Investment Hedge (Detail) - Net Investment Hedging - Designated as Hedging Instrument € in Millions, £ in Millions, $ in Millions	Dec. 31, 2021USD ($)	Dec. 31, 2021EUR (€)	Dec. 31, 2021GBP (£)	Dec. 31, 2020USD ($)	Dec. 31, 2020EUR (€)	Dec. 31, 2020GBP (£)
Contract to sell EUR for USD
Derivative [Line Items]
Notional Amount	$ 0	€ 0		$ 627	€ 524
Contract to sell GBP for EUR
Derivative [Line Items]
Notional Amount		€ 0	£ 0		€ 148	£ 134

Derivative Instruments And He_9

Derivative Instruments And Hedging Activities - Gains (Losses) Recognized in AOCI and Reclassified from AOCI on Derivatives (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Cash Flow Hedging Relationships, Amount of Gain/(Loss) Recognized in AOCI on Derivative, net of Tax	$ 0	$ (51)	$ 0
Total, Amount of Gain/(Loss) Recognized in AOCI on Derivative, net of Tax	242	(325)	26
Net Investment Hedging Relationships, Amount of Gain/(Loss) Reclassified from AOCI into Income, net of Tax	1	1	2
Cash Flow Hedging Relationships, Amount of Gain/(Loss) Reclassified from AOCI into Income, net of Tax	(2)	(2)	0
Total, Amount of Gain/(Loss) Reclassified from AOCI into Income, net of Tax	(1)	(2)	2
Gain/(Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	35	50	52
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	242	(274)	26
Net Investment Hedging Relationships, Amount of Gain/(Loss) Reclassified from AOCI into Income, net of Tax	1	0	2
Gain/(Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	35	50	52
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	0	(51)	0
Cash Flow Hedging Relationships, Amount of Gain/(Loss) Reclassified from AOCI into Income, net of Tax	(2)	(2)	0
Gain/(Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	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	18	(14)	4
Net Investment Hedging Relationships, Amount of Gain/(Loss) Reclassified from AOCI into Income, net of Tax	1	0	2
Gain/(Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	0	0	0
Cross currency swaps | 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	(165)	29
Net Investment Hedging Relationships, Amount of Gain/(Loss) Reclassified from AOCI into Income, net of Tax	0	0	0
Gain/(Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	35	50	52
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	81	(95)	(7)
Net Investment Hedging Relationships, Amount of Gain/(Loss) Reclassified from AOCI into Income, net of Tax	0	0	0
Gain/(Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	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	0	(51)	0
Cash Flow Hedging Relationships, Amount of Gain/(Loss) Reclassified from AOCI into Income, net of Tax	(2)	(2)	0
Gain/(Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	$ 0	$ 0	$ 0

Derivative Instruments And H_10

Derivative Instruments And Hedging Activities - Gains (Losses) Recognized in AOCI and Reclassified from AOCI on Derivatives (Footnote) (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Net Investment Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Shareholders' equity	$ 3

Derivative Instruments And H_11

Derivative Instruments And Hedging Activities - Cumulative Amount of Unrecognized Hedge Losses Recorded in AOCI (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Derivative [Line Items]
Cumulative Gains/(Losses), net of tax	$ (410)	$ (432)
Designated as Hedging Instrument
Derivative [Line Items]
Cumulative Gains/(Losses), net of tax	(26)	(269)
Net Investment Hedging | Designated as Hedging Instrument
Derivative [Line Items]
Cumulative Gains/(Losses), net of tax	21	(220)
Net Investment Hedging | FX forwards | Designated as Hedging Instrument
Derivative [Line Items]
Cumulative Gains/(Losses), net of tax	29	12
Net Investment Hedging | Cross currency swaps | Designated as Hedging Instrument
Derivative [Line Items]
Cumulative Gains/(Losses), net of tax	19	(124)
Net Investment Hedging | Long-term debt | Designated as Hedging Instrument
Derivative [Line Items]
Cumulative Gains/(Losses), net of tax	(27)	(108)
Cash Flow Hedging | Designated as Hedging Instrument
Derivative [Line Items]
Cumulative Gains/(Losses), net of tax	(47)	(49)
Cash Flow Hedging | FX forwards | Designated as Hedging Instrument
Derivative [Line Items]
Cumulative Gains/(Losses), net of tax	(49)	(51)
Cash Flow Hedging | Cross currency swaps | Designated as Hedging Instrument
Derivative [Line Items]
Cumulative Gains/(Losses), net of tax	$ 2	$ 2

Derivative Instruments And H_12

Derivative Instruments And Hedging Activities - Summary of Notional Amounts of Outstanding Foreign Exchange Forwards (Detail) ₽ in Millions, € in Millions, ₨ in Millions, ¥ in Millions, £ in Millions, $ in Millions, $ in Millions, $ in Millions	Dec. 31, 2021USD ($)	Dec. 31, 2021EUR (€)	Dec. 31, 2021GBP (£)	Dec. 31, 2021JPY (¥)	Dec. 31, 2021CAD ($)	Dec. 31, 2021SGD ($)	Dec. 31, 2021RUB (₽)	Dec. 31, 2021INR (₨)	Dec. 31, 2020USD ($)	Dec. 31, 2020EUR (€)	Dec. 31, 2020GBP (£)	Dec. 31, 2020JPY (¥)	Dec. 31, 2020CAD ($)	Dec. 31, 2020SGD ($)	Dec. 31, 2020RUB (₽)	Dec. 31, 2020INR (₨)
Not Designated as Accounting Hedges | Contracts to sell USD for GBP
Derivative [Line Items]
Notional Amount	$ 126		£ 92						$ 295		£ 222
Not Designated as Accounting Hedges | Contracts to sell USD for Japanese Yen
Derivative [Line Items]
Notional Amount	22			¥ 2,500					15			¥ 1,600
Not Designated as Accounting Hedges | Contracts to sell USD for Canadian dollars
Derivative [Line Items]
Notional Amount	120				$ 150				107				$ 140
Not Designated as Accounting Hedges | Contracts to sell USD for Singapore dollars
Derivative [Line Items]
Notional Amount	67					$ 90			59					$ 79
Not Designated as Accounting Hedges | Contracts to sell USD for Euros
Derivative [Line Items]
Notional Amount	364	€ 315							447	€ 376
Not Designated as Accounting Hedges | Contracts to sell Euros for GBP
Derivative [Line Items]
Notional Amount										135	121
Not Designated as Accounting Hedges | Contracts to sell USD for Russian Ruble
Derivative [Line Items]
Notional Amount	16						₽ 1,200		13						₽ 1,000
Not Designated as Accounting Hedges | Contracts to sell USD for Indian Rupee
Derivative [Line Items]
Notional Amount	7							₨ 500	18							₨ 1,350
Not Designated as Accounting Hedges | Contracts to sell GBP for USD
Derivative [Line Items]
Notional Amount	231		172
Designated as Hedging Instrument | Contract to sell EUR for USD | Net Investment Hedging
Derivative [Line Items]
Notional Amount	$ 0	0							$ 627	524
Designated as Hedging Instrument | Contract to sell GBP for EUR | Net Investment Hedging
Derivative [Line Items]
Notional Amount		€ 0	£ 0							€ 148	£ 134

Derivative Instruments And H_13

Derivative Instruments And Hedging Activities - Summary of Net Gain (Loss) on Foreign Exchange Forwards Not Designated as Hedging Instruments (Detail) - FX forwards - Other non-operating expense, net - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Foreign exchange forwards amount of gain (loss) recognized in income	$ (27)	$ 41	$ (11)
RMS
Derivative Instruments, Gain (Loss) [Line Items]
Foreign exchange forwards amount of gain (loss) recognized in income	$ (13)	$ 0	$ 0

Derivative Instruments And H_14

Derivative Instruments And Hedging Activities - Fair Value of Derivative Instruments (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Assets	$ 67	$ 88
Liabilities	1,473	1,716
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Assets	66	57
Liabilities	40	184
Designated as Hedging Instrument | Long-term debt | Net Investment Hedging
Derivatives, Fair Value [Line Items]
Liabilities	1,421	1,530
Designated as Hedging Instrument | Cross currency swaps | Other assets | Net Investment Hedging
Derivatives, Fair Value [Line Items]
Assets	53	0
Designated as Hedging Instrument | Cross currency swaps | Accounts payable and accrued liabilities | Net Investment Hedging
Derivatives, Fair Value [Line Items]
Liabilities	0	23
Designated as Hedging Instrument | Cross currency swaps | Other liabilities | Net Investment Hedging
Derivatives, Fair Value [Line Items]
Liabilities	17	144
Designated as Hedging Instrument | Interest Rate Swap | Other assets | Fair Value Hedging
Derivatives, Fair Value [Line Items]
Assets	13	57
Designated as Hedging Instrument | Interest Rate Swap | Other liabilities | Fair Value Hedging
Derivatives, Fair Value [Line Items]
Liabilities	23	1
Designated as Hedging Instrument | FX forwards | Accounts payable and accrued liabilities | Net Investment Hedging
Derivatives, Fair Value [Line Items]
Liabilities	0	16
Not Designated as Accounting Hedges | FX forwards | Other current assets
Derivatives, Fair Value [Line Items]
Assets	1	31
Not Designated as Accounting Hedges | FX forwards | Accounts payable and accrued liabilities
Derivatives, Fair Value [Line Items]
Liabilities	$ 12	$ 2

Property and Equipment, Net (De

Property and Equipment, Net (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	$ 1,357	$ 1,206
Less: accumulated depreciation and amortization	(1,010)	(928)
Total property and equipment, net	347	278
Office and Computer Equipment
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	$ 300	260
Office and Computer Equipment | Minimum
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	3 years
Office and Computer Equipment | Maximum
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	10 years
Office Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	$ 52	49
Office Furniture and Fixtures | Minimum
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	3 years
Office Furniture and Fixtures | Maximum
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	10 years
Internal-use Computer Software
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	$ 771	666
Internal-use Computer Software | Minimum
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	1 year
Internal-use Computer Software | Maximum
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	10 years
Leasehold Improvements and Building
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	$ 234	$ 231
Leasehold Improvements and Building | Minimum
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	1 year
Leasehold Improvements and Building | Maximum
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	20 years

Property and Equipment, Net - A

Property and Equipment, Net - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense related to property and equipment	$ 99	$ 96	$ 97

Acquisitions and Divestiture -

Acquisitions and Divestiture - Acquisitions Narrative (Detail) - USD ($) $ in Millions	Nov. 30, 2021	Sep. 15, 2021	Mar. 19, 2021	Feb. 13, 2020	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Oct. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill					$ 4,556	$ 5,999	$ 4,556		$ 3,722
MA
Business Acquisition [Line Items]
Goodwill					4,245	5,603	4,245		3,407
MIS
Business Acquisition [Line Items]
Goodwill					311	396	311		$ 315
PassFort
Business Acquisition [Line Items]
Business acquisition interests acquired	100.00%
Goodwill	$ 138
Cash and equivalents	10
Receivables	1
Cash paid at closing	157
Consideration transferred	$ 158
RMS
Business Acquisition [Line Items]
Business acquisition interests acquired		100.00%
Goodwill		$ 1,376
Indemnification assets related to acquisitions		95
Cash and equivalents		60
Receivables		38
Cash paid at closing		1,922
Consideration transferred		1,927
RMS | Selling, General and Administrative Expenses
Business Acquisition [Line Items]
Transaction costs		22
RMS | MA
Business Acquisition [Line Items]
Goodwill		1,286
RMS | MIS
Business Acquisition [Line Items]
Goodwill		$ 90
RMS | Fair Value Adjustment to Deferred Revenue
Business Acquisition [Line Items]
Revenues						$ 18	(22)
Cortera
Business Acquisition [Line Items]
Business acquisition interests acquired			100.00%
Goodwill			$ 79
Cash and equivalents			4
Receivables			2
Cash paid at closing			138
Consideration transferred			$ 139
Regulatory DataCorp
Business Acquisition [Line Items]
Business acquisition interests acquired				100.00%
Goodwill				$ 494
Cash and equivalents				6
Receivables				14
Cash paid at closing				700
Consideration transferred				$ 702
Acquire Media, ZM Financial Systems & Catylist Inc.
Business Acquisition [Line Items]
Goodwill					131		$ 131
Consideration transferred					$ 205
Catylist Inc.
Business Acquisition [Line Items]
Business acquisition interests acquired					100.00%		100.00%
ZM Financial Systems
Business Acquisition [Line Items]
Business acquisition interests acquired					100.00%		100.00%
Acquire Media
Business Acquisition [Line Items]
Business acquisition interests acquired								100.00%

Acquisitions and Divestiture _2

Acquisitions and Divestiture - Total Consideration Relating to Acquisition (Detail) - USD ($) $ in Millions	Nov. 30, 2021	Sep. 15, 2021	Mar. 19, 2021	Feb. 13, 2020
PassFort
Business Acquisition [Line Items]
Cash paid at closing	$ 157
Additional consideration paid to sellers	1
Total consideration	$ 158
RMS
Business Acquisition [Line Items]
Cash paid at closing		$ 1,922
Replacement equity compensation awards		5
Total consideration		$ 1,927
Cortera
Business Acquisition [Line Items]
Cash paid at closing			$ 138
Additional consideration paid to sellers in 2020			1
Total consideration			$ 139
Regulatory DataCorp
Business Acquisition [Line Items]
Cash paid at closing				$ 700
Additional consideration paid to sellers in 2020				2
Total consideration				$ 702

Acquisitions and Divestiture _3

Acquisitions and Divestiture - Purchase Price Allocation (Detail) - USD ($) $ in Millions	Nov. 30, 2021	Sep. 15, 2021	Mar. 19, 2021	Feb. 13, 2020	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill					$ 4,556	$ 5,999	$ 3,722
PassFort
Business Acquisition [Line Items]
Cash	$ 10
Accounts receivable	1
Total intangible assets	23
Goodwill	138
Liabilities:
Accounts payable and accrued liabilities	(7)
Deferred revenue	(1)
Deferred tax liabilities	(6)
Total liabilities	(14)
Net assets acquired	$ 158
Weighted average life of intangible assets acquired (in years)	9 years
PassFort | Customer relationships
Business Acquisition [Line Items]
Total intangible assets	$ 8
Liabilities:
Weighted average life of intangible assets acquired acquired (in years)	16 years
PassFort | Product technology
Business Acquisition [Line Items]
Total intangible assets	$ 14
Liabilities:
Weighted average life of intangible assets acquired acquired (in years)	5 years
PassFort | Trade names
Business Acquisition [Line Items]
Total intangible assets	$ 1
Liabilities:
Weighted average life of intangible assets acquired acquired (in years)	4 years
RMS
Business Acquisition [Line Items]
Cash		$ 60
Accounts receivable		38
Other current assets		11
Property and equipment		13
Operating lease right-of-use assets		64
Total intangible assets		779
Goodwill		1,376
Deferred tax assets, net		48
Other assets		99
Liabilities:
Accounts payable and accrued liabilities		(92)
Deferred revenue		(89)
Operating lease liabilities		(68)
Deferred tax liabilities		(214)
Other liabilities		(2)
Uncertain tax positions		(96)
Total liabilities		(561)
Net assets acquired		$ 1,927
Weighted average life of intangible assets acquired (in years)		18 years
RMS | Customer relationships
Business Acquisition [Line Items]
Total intangible assets		$ 518
Liabilities:
Weighted average life of intangible assets acquired acquired (in years)		23 years
RMS | Product technology
Business Acquisition [Line Items]
Total intangible assets		$ 212
Liabilities:
Weighted average life of intangible assets acquired acquired (in years)		7 years
RMS | Trade names
Business Acquisition [Line Items]
Total intangible assets		$ 49
Liabilities:
Weighted average life of intangible assets acquired acquired (in years)		9 years
Cortera
Business Acquisition [Line Items]
Cash			$ 4
Accounts receivable			2
Current assets			7
Total intangible assets			57
Goodwill			79
Deferred tax assets, net			16
Other assets			2
Liabilities:
Accounts payable and accrued liabilities			(1)
Deferred revenue			(4)
Deferred tax liabilities			(15)
Other liabilities			(2)
Total liabilities			(22)
Net assets acquired			$ 139
Weighted average life of intangible assets acquired (in years)			11 years
Cortera | Customer relationships
Business Acquisition [Line Items]
Total intangible assets			$ 9
Liabilities:
Weighted average life of intangible assets acquired acquired (in years)			18 years
Cortera | Database
Business Acquisition [Line Items]
Total intangible assets			$ 38
Liabilities:
Weighted average life of intangible assets acquired acquired (in years)			10 years
Cortera | Product technology
Business Acquisition [Line Items]
Total intangible assets			$ 9
Liabilities:
Weighted average life of intangible assets acquired acquired (in years)			8 years
Cortera | Trade names
Business Acquisition [Line Items]
Total intangible assets			$ 1
Liabilities:
Weighted average life of intangible assets acquired acquired (in years)			5 years
Regulatory DataCorp
Business Acquisition [Line Items]
Cash				$ 6
Accounts receivable				14
Current assets				24
Total intangible assets				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
Weighted average life of intangible assets acquired (in years)				19 years
Regulatory DataCorp | Customer relationships
Business Acquisition [Line Items]
Total intangible assets				$ 174
Liabilities:
Weighted average life of intangible assets acquired acquired (in years)				25 years
Regulatory DataCorp | Database
Business Acquisition [Line Items]
Total intangible assets				$ 86
Liabilities:
Weighted average life of intangible assets acquired acquired (in years)				10 years
Regulatory DataCorp | Product technology
Business Acquisition [Line Items]
Total intangible assets				$ 17
Liabilities:
Weighted average life of intangible assets acquired acquired (in years)				4 years
Regulatory DataCorp | Trade names
Business Acquisition [Line Items]
Total intangible assets				$ 3
Liabilities:
Weighted average life of intangible assets acquired acquired (in years)				3 years
Acquire Media, ZM Financial Systems & Catylist Inc.
Business Acquisition [Line Items]
Current assets					5
Total intangible assets					82
Goodwill					131
Other assets					3
Liabilities:
Current liabilities					(8)
Long-term liabilities					(8)
Total liabilities					(16)
Net assets acquired					$ 205
Weighted average life of intangible assets acquired (in years)					14 years
Acquire Media, ZM Financial Systems & Catylist Inc. | Customer relationships
Business Acquisition [Line Items]
Total intangible assets					$ 47
Liabilities:
Weighted average life of intangible assets acquired acquired (in years)					18 years
Acquire Media, ZM Financial Systems & Catylist Inc. | Database
Business Acquisition [Line Items]
Total intangible assets					$ 8
Liabilities:
Weighted average life of intangible assets acquired acquired (in years)					10 years
Acquire Media, ZM Financial Systems & Catylist Inc. | Product technology
Business Acquisition [Line Items]
Total intangible assets					$ 23
Liabilities:
Weighted average life of intangible assets acquired acquired (in years)					8 years
Acquire Media, ZM Financial Systems & Catylist Inc. | Trade names
Business Acquisition [Line Items]
Total intangible assets					$ 4
Liabilities:
Weighted average life of intangible assets acquired acquired (in years)					14 years

Acquisitions and Divestiture _4

Acquisitions and Divestiture - Pro Forma Information (Details) - RMS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pro forma Revenue	$ 6,463	$ 5,667
Pro forma Net Income attributable to Moody's	$ 2,244	$ 1,666

Acquisitions and Divestiture _5

Acquisitions and Divestiture - Divestiture Narrative (Detail) - USD ($) $ in Millions	Nov. 08, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash received upon disposal of a business, net of cash transferred to purchaser		$ 0	$ 0	$ 226
Loss pursuant to the divestiture of MAKS		0	9	14
Indemnification provision liability		33	33		$ 33
MAKS | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash received upon disposal of a business, net of cash transferred to purchaser	$ 227
Loss pursuant to the divestiture of MAKS			9	14	23
Disposal group, including discontinued operation, foreign currency translation losses				$ 32
Indemnification provision liability		$ 33	$ 33		$ 33

Goodwill And Other Acquired I_3

Goodwill And Other Acquired Intangible Assets - Activity in Goodwill (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Roll Forward]
Beginning balance, Goodwill gross	$ 4,568	$ 3,734
Beginning balance, Accumulated impairment charge	(12)	(12)
Beginning balance, goodwill net	4,556	3,722
Additions/adjustments	1,615	626
Foreign currency translation adjustments	(172)	208
Ending balance, Goodwill gross	6,011	4,568
Ending balance, Accumulated impairment charge	(12)	(12)
Ending balance, goodwill net	5,999	4,556
MIS
Goodwill [Roll Forward]
Beginning balance, Goodwill gross	311	315
Beginning balance, Accumulated impairment charge	0	0
Beginning balance, goodwill net	311	315
Additions/adjustments	90	(2)
Foreign currency translation adjustments	(5)	(2)
Ending balance, Goodwill gross	396	311
Ending balance, Accumulated impairment charge	0	0
Ending balance, goodwill net	396	311
MA
Goodwill [Roll Forward]
Beginning balance, Goodwill gross	4,257	3,419
Beginning balance, Accumulated impairment charge	(12)	(12)
Beginning balance, goodwill net	4,245	3,407
Additions/adjustments	1,525	628
Foreign currency translation adjustments	(167)	210
Ending balance, Goodwill gross	5,615	4,257
Ending balance, Accumulated impairment charge	(12)	(12)
Ending balance, goodwill net	$ 5,603	$ 4,245

Goodwill And Other Acquired I_4

Goodwill And Other Acquired Intangible Assets - Acquired Intangible Assets and Related Amortization (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, net	$ 2,467	$ 1,824
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, gross	2,101	1,623
Accumulated amortization	(381)	(313)
Acquired intangible assets, net	1,720	1,310
Software/product technology
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, gross	663	441
Accumulated amortization	(219)	(177)
Acquired intangible assets, net	444	264
Database
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, gross	179	144
Accumulated amortization	(46)	(29)
Acquired intangible assets, net	133	115
Trade names
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, gross	207	161
Accumulated amortization	(47)	(38)
Acquired intangible assets, net	160	123
Other
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, gross	54	55
Accumulated amortization	(44)	(43)
Acquired intangible assets, net	$ 10	$ 12

Goodwill And Other Acquired I_5

Goodwill And Other Acquired Intangible Assets - Amortization Expense Relating to Acquired Intangible Assets (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 158	$ 124	$ 103

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	Dec. 31, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ 191
2023	189
2024	185
2025	180
2026	177
Thereafter	1,545
Total estimated future amortization	$ 2,467

Restructuring - Additional Info

Restructuring - Additional Information (Detail) - USD ($) $ in Millions	Dec. 22, 2020	Jul. 29, 2020	Oct. 26, 2018	Dec. 31, 2018	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2022	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring					$ 0	$ 50	$ 60
2020 MA Strategic Reorganization Restructuring Program
Restructuring Cost and Reserve [Line Items]
Restructuring					2	18	0
2020 MA Strategic Reorganization Restructuring Program | Estimated Annual Savings
Restructuring Cost and Reserve [Line Items]
Effect on future earnings, amount	$ 20
2020 MA Strategic Reorganization Restructuring Program | Minimum | Forecast
Restructuring Cost and Reserve [Line Items]
Payments for restructuring								$ 20
2020 Real Estate Rationalization Restructuring Program
Restructuring Cost and Reserve [Line Items]
Restructuring					0	36	0
2020 Real Estate Rationalization Restructuring Program | Minimum | Estimated Annual Savings
Restructuring Cost and Reserve [Line Items]
Effect on future earnings, amount		$ 5
2020 Real Estate Rationalization Restructuring Program | Maximum | Estimated Annual Savings
Restructuring Cost and Reserve [Line Items]
Effect on future earnings, amount		$ 6
2018 Restructuring Program
Restructuring Cost and Reserve [Line Items]
Restructuring					(2)	$ (4)	$ 60
2018 Restructuring Program | Estimated Annual Savings
Restructuring Cost and Reserve [Line Items]
Effect on future earnings, amount			$ 60
Real Estate | 2018 Restructuring Program | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring				$ 50
Employee Termination Costs | 2020 MA Strategic Reorganization Restructuring Program
Restructuring Cost and Reserve [Line Items]
Cost incurred to date					20
Employee Termination Costs | 2020 MA Strategic Reorganization Restructuring Program | Minimum
Restructuring Cost and Reserve [Line Items]
Cost incurred to date	$ 20
Employee Termination Costs | 2020 Real Estate Rationalization Restructuring Program
Restructuring Cost and Reserve [Line Items]
Cost incurred to date					0
Employee Termination Costs | 2018 Restructuring Program
Restructuring Cost and Reserve [Line Items]
Cost incurred to date					$ 55
Payments for restructuring									$ 55
Restructuring									$ 55

Restructuring - Restructuring E

Restructuring - Restructuring Expenses Included in Consolidated Statements of Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring	$ 0	$ 50	$ 60
2018 Restructuring Program
Restructuring Cost and Reserve [Line Items]
Restructuring	(2)	(4)	60
2020 Real Estate Rationalization Restructuring Program
Restructuring Cost and Reserve [Line Items]
Restructuring	0	36	0
2020 MA Strategic Reorganization Restructuring Program
Restructuring Cost and Reserve [Line Items]
Restructuring	$ 2	$ 18	$ 0

Restructuring - Changes in Rest

Restructuring - Changes in Restructuring Liability (Details) $ in Millions	Dec. 31, 2021USD ($)
2018 Restructuring Program | Employee Termination Costs
Restructuring Cost and Reserve [Line Items]
Cumulative expense incurred through December 31, 2021	$ 55
2018 Restructuring Program | Contract Termination Costs
Restructuring Cost and Reserve [Line Items]
Cumulative expense incurred through December 31, 2021	48
2020 Real Estate Rationalization Restructuring Program | Employee Termination Costs
Restructuring Cost and Reserve [Line Items]
Cumulative expense incurred through December 31, 2021	0
2020 Real Estate Rationalization Restructuring Program | Contract Termination Costs
Restructuring Cost and Reserve [Line Items]
Cumulative expense incurred through December 31, 2021	36
2020 MA Strategic Reorganization Restructuring Program | Employee Termination Costs
Restructuring Cost and Reserve [Line Items]
Cumulative expense incurred through December 31, 2021	20
2020 MA Strategic Reorganization Restructuring Program | Contract Termination Costs
Restructuring Cost and Reserve [Line Items]
Cumulative expense incurred through December 31, 2021	$ 0

Fair Value - Financial Instrume

Fair Value - Financial Instruments Carried at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Assets:
Derivatives	$ 67	$ 88
Mutual funds	73	60
Total	140	148
Liabilities:
Derivatives	52	186
Total	52	186
Level 1
Assets:
Derivatives	0	0
Mutual funds	73	60
Total	73	60
Liabilities:
Derivatives	0	0
Total	0	0
Level 2
Assets:
Derivatives	67	88
Mutual funds	0	0
Total	67	88
Liabilities:
Derivatives	52	186
Total	$ 52	$ 186

OTHER BALANCE SHEET INFORMATI_3

OTHER BALANCE SHEET INFORMATION - Additional Details Related to Certain Balance Sheet Captions (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other current assets:
Prepaid taxes	$ 112	$ 94
Prepaid expenses	99	91
Capitalized costs to obtain and fulfill sales contracts	103	93
Foreign exchange forwards on certain assets and liabilities	1	31
Other	74	74
Total other current assets	389	383
Other assets:
Investments in non-consolidated affiliates	443	135
Deposits for real-estate leases	14	19
Indemnification assets related to acquisitions	106	15
Mutual funds and fixed deposits	89	66
Company owned life insurance (at contract value)	37	17
Costs to obtain sales contracts	138	134
Derivative instruments designated as accounting hedges	66	57
Pension and other retirement employee benefits	77	21
Other	64	51
Total other assets	1,034	515
Accounts payable and accrued liabilities:
Salaries and benefits	211	197
Incentive compensation	324	226
Customer credits, advanced payments and advanced billings	100	42
Dividends	6	11
Professional service fees	75	53
Interest accrued on debt	85	82
Accounts payable	47	39
Income taxes	115	128
Pension and other retirement employee benefits	7	45
Accrued royalties	36	19
Foreign exchange forwards on certain assets and liabilities	12	2
Restructuring liability	4	18
Derivative instruments designated as accounting hedges	0	39
Other	120	138
Total accounts payable and accrued liabilities	1,142	1,039
Other liabilities:
Pension and other retirement employee benefits	235	244
Interest accrued on UTPs	59	113	$ 82
MAKS indemnification provisions	33	33
Income tax liability – non-current portion	23	18
Derivative instruments designated as accounting hedges	40	145
Other	48	37
Total other liabilities	$ 438	$ 590

OTHER BALANCE SHEET INFORMATI_4

OTHER BALANCE SHEET INFORMATION - Investments in Non-Consolidated Affiliates (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Equity method investments	$ 121	$ 118
Investments measured using the measurement alternative	318	16
Other	4	1
Total investments in non-consolidated affiliates	$ 443	$ 135

Comprehensive Income And Accu_3

Comprehensive Income And Accumulated Other Comprehensive Income - Reclassification out of AOCI (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Loss pursuant to the divestiture of MAKS	$ 0	$ (9)	$ (14)
Other non-operating income (expense), net	82	46	20
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	2,755	2,229	1,810
Total before income taxes	2,755	2,229	1,810
Provision for income taxes	(541)	(452)	(381)
Net income attributable to Moody’s	2,214	1,778	1,422
Reclassification out of Accumulated Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Net income attributable to Moody’s	(15)	(7)	(32)
Currency translation adjustment losses | Reclassification out of Accumulated Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Loss pursuant to the divestiture of MAKS	0	0	(32)
Net income attributable to Moody’s	0	0	(32)
Losses on cash flow hedges | Reclassification out of Accumulated Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Provision for income taxes	0	1	0
Net income attributable to Moody’s	(2)	(2)	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 (expense), net	(2)	(3)	0
Gains on net investment hedges | Reclassification out of Accumulated Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	2	1	3
Provision for income taxes	(1)	0	(1)
Net income attributable to Moody’s	1	1	2
Gains on net investment hedges | Reclassification out of Accumulated Other Comprehensive Income | Cross currency swaps
Derivative Instruments, Gain (Loss) [Line Items]
Other non-operating income (expense), net	0	1	0
Gains on net investment hedges | Reclassification out of Accumulated Other Comprehensive Income | FX forwards
Derivative Instruments, Gain (Loss) [Line Items]
Other non-operating income (expense), net	2	0	3
Pension and other retirement benefits | Reclassification out of Accumulated Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	(19)	(8)	(3)
Provision for income taxes	5	2	1
Net income attributable to Moody’s	(14)	(6)	(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]
Other non-operating income (expense), net	(11)	(6)	(3)
Accelerated recognition of loss due to settlement | Reclassification out of Accumulated Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Other non-operating income (expense), net	$ (8)	$ (2)	$ 0

Comprehensive Income And Accu_4

Comprehensive Income And Accumulated Other Comprehensive Income - Changes in Components of Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 1,569
Other comprehensive income/(loss) before reclassifications	7	$ 0	$ (25)
Amounts reclassified from AOCL	15	7	32
Other comprehensive income/(loss)	22	7	$ (13)
Ending balance	2,727	$ 1,569
Accounting Standards Update [Extensible List]		Accounting Standards Update 2016-13	Accounting Standards Update 2016-13	Accounting Standards Update 2018-02
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(432)	$ (439)	$ (426)
Ending balance	(410)	(432)	(439)	$ (426)
Total | Cumulative Effect, Period of Adoption, Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(20)
Ending balance				(20)
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(45)	(401)	(406)
Other comprehensive income/(loss) before reclassifications	(290)	356	(27)
Amounts reclassified from AOCL	0	0	32
Other comprehensive income/(loss)	(290)	356	5
Ending balance	(335)	(45)	(401)	(406)
Gains / (Losses) on Cash Flow Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(49)	0	0
Other comprehensive income/(loss) before reclassifications	0	(51)	0
Amounts reclassified from AOCL	2	2	0
Other comprehensive income/(loss)	2	(49)	0
Ending balance	(47)	(49)	0	0
Net Investment Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(220)	54	33
Other comprehensive income/(loss) before reclassifications	242	(273)	26
Amounts reclassified from AOCL	(1)	(1)	(2)
Other comprehensive income/(loss)	241	(274)	21
Ending balance	21	(220)	54	33
Net Investment Hedges | Cumulative Effect, Period of Adoption, Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(3)
Ending balance				(3)
Pension and Other Retirement Benefits
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(118)	(92)	(53)
Other comprehensive income/(loss) before reclassifications	55	(32)	(24)
Amounts reclassified from AOCL	14	6	2
Other comprehensive income/(loss)	69	(26)	(39)
Ending balance	$ (49)	$ (118)	(92)	(53)
Pension and Other Retirement Benefits | Cumulative Effect, Period of Adoption, Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			$ (17)
Ending balance				$ (17)

Pension And Other Retirement _3

Pension And Other Retirement Benefits - Summary of Changes in Benefit Obligations and Fair Value of Plan Assets for Post-Retirement Plans (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Change in benefit obligation:
Interest cost	$ (16)	$ (19)	$ (22)
Amounts recorded on the consolidated balance sheets:
Pension and retirement benefits asset – non current	77	21
Pension and retirement benefits liability – current	(7)	(45)
Pension and retirement benefits liability – non current	(235)	(244)
U.S. Plans | Pension Plans
Change in benefit obligation:
Benefit obligation, beginning of the period	(663)	(589)
Service cost	(19)	(17)	(17)
Interest cost	(14)	(17)	(21)
Plan participants’ contributions	0	0
Benefits paid	68	22
Actuarial (loss) gain	(6)	6
Assumption changes	64	(68)
Benefit obligation, end of the period	(570)	(663)	(589)
Change in plan assets:
Fair value of plan assets, beginning of the period	528	395
Actual return on plan assets	34	45
Benefits paid	(68)	(22)
Employer contributions	50	110
Plan participants’ contributions	0	0
Fair value of plan assets, end of the period	544	528	395
Funded Status of the plans	(26)	(135)
Amounts recorded on the consolidated balance sheets:
Pension and retirement benefits asset – non current	74	21
Pension and retirement benefits liability – current	(5)	(44)
Pension and retirement benefits liability – non current	(95)	(112)
Net amount recognized	(26)	(135)
Accumulated benefit obligation, end of the period	(524)	(601)
U.S. Plans | Other Retirement Plans
Change in benefit obligation:
Benefit obligation, beginning of the period	(48)	(42)
Service cost	(4)	(3)	(3)
Interest cost	(1)	(1)	(1)
Plan participants’ contributions	(1)	(1)
Benefits paid	2	2
Actuarial (loss) gain	(3)	2
Assumption changes	7	(5)
Benefit obligation, end of the period	(48)	(48)	(42)
Change in plan assets:
Fair value of plan assets, beginning of the period	0	0
Actual return on plan assets	0	0
Benefits paid	(2)	(2)
Employer contributions	1	1
Plan participants’ contributions	1	1
Fair value of plan assets, end of the period	0	0	$ 0
Funded Status of the plans	(48)	(48)
Amounts recorded on the consolidated balance sheets:
Pension and retirement benefits asset – non current	0	0
Pension and retirement benefits liability – current	(1)	(1)
Pension and retirement benefits liability – non current	(47)	(47)
Net amount recognized	$ (48)	$ (48)

Pension And Other Retirement _4

Pension And Other Retirement Benefits - Accumulated Benefit Obligation in Excess of Plan Assets (Detail) - Pension Plans - U.S. Plans - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Aggregate projected benefit obligation	$ 101	$ 156
Aggregate accumulated benefit obligation	$ 86	$ 138

Pension And Other Retirement _5

Pension And Other Retirement Benefits - Summary of Pre-Tax Net Actuarial Losses and Prior Service Cost Recognized in Accumulated Other Comprehensive Income (Loss) (Detail) - U.S. Plans - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Pension Plans
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Net actuarial losses	$ (61)	$ (144)
Net prior service credits	3	3
Total recognized in AOCL – pretax	(58)	(141)
Other Retirement Plans
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Net actuarial losses	(4)	(8)
Net prior service credits	0	0
Total recognized in AOCL – pretax	$ (4)	$ (8)

Pension And Other Retirement _6

Pension And Other Retirement Benefits - Components of Net Periodic Benefit Expense Related to Retirement Plans (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 16	$ 19	$ 22
Loss on settlement of pension obligation	8
U.S. Plans | Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	19	17	17
Interest cost	14	17	21
Expected return on plan assets	(27)	(20)	(20)
Amortization of net actuarial loss and prior service credits from earlier periods	11	7	4
Loss on settlement of pension obligation	8	2	0
Net periodic expense	25	23	22
U.S. Plans | Other Retirement Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	4	3	3
Interest cost	1	1	1
Expected return on plan assets	0	0	0
Amortization of net actuarial loss and prior service credits from earlier periods	1	0	0
Loss on settlement of pension obligation	0	0	0
Net periodic expense	$ 6	$ 4	$ 4

Pension and Other Retirement _7

Pension and Other Retirement Benefits - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract]
Loss on settlement of pension obligation		$ 8
Dividends paid on ESOP		$ 1	$ 1	$ 1
Moody's shares held in ESOP		328,500	360,600
U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract]
Employee contribution percentage of employee contribution in participation		50.00%
Maximum employee contribution in profit participation plan		3.00%
Defined contribution compensation expense		$ 54	$ 44	43
U.S. Plans | Pension Plans
Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract]
Loss on settlement of pension obligation		$ 8	$ 2	$ 0
Expected rate of return		5.45%	4.45%	5.65%
Employer contributions		$ 50	$ 110
U.S. Plans | Other Retirement Plans
Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract]
Loss on settlement of pension obligation		$ 0	$ 0	$ 0
Expected rate of return		0.00%	0.00%	0.00%
Employer contributions		$ 1	$ 1
U.S. Plans | Equity Securities | Pension Plans
Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract]
Plan asset, target asset allocation percentage		33.00%
U.S. Plans | Equity Securities | Pension Plans | Minimum
Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract]
Plan asset, target asset allocation percentage		28.00%
U.S. Plans | Equity Securities | Pension Plans | Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract]
Plan asset, target asset allocation percentage		38.00%
U.S. Plans | Fixed Income Securities | Pension Plans
Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract]
Plan asset, target asset allocation percentage		62.00%
U.S. Plans | Fixed Income Securities | Pension Plans | Minimum
Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract]
Plan asset, target asset allocation percentage		57.00%
U.S. Plans | Fixed Income Securities | Pension Plans | Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract]
Plan asset, target asset allocation percentage		67.00%
U.S. Plans | Other Investments | Pension Plans
Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract]
Plan asset, target asset allocation percentage		5.00%
U.S. Plans | Other Investments | Pension Plans | Minimum
Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract]
Plan asset, target asset allocation percentage		2.00%
U.S. Plans | Other Investments | Pension Plans | Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract]
Plan asset, target asset allocation percentage		8.00%
Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract]
Defined contribution compensation expense		$ 32	29	$ 25
Funded Plan | U.S. Plans | Pension Plans
Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract]
Employer contributions			99
Unfunded Plan | U.S. Plans | Pension Plans
Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract]
Employer contributions		$ 50	$ 11
Forecast | U.S. Plans | Pension Plans
Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract]
Expected rate of return	5.05%

Pension And Other Retirement _8

Pension And Other Retirement Benefits - Summary Of Pre Tax Amounts Recognized In Other Comprehensive Income (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Net actuarial (loss)/gain arising during the period	$ 73	$ (42)	$ (32)
U.S. Plans | Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Amortization of net actuarial losses and prior service credit	11	7	4
Settlement loss	8	2	0
Net actuarial (loss)/gain arising during the period	65	(37)	(24)
Total recognized in OCI – pre-tax	84	(28)	(20)
U.S. Plans | Other Retirement Plans
Defined Benefit Plan Disclosure [Line Items]
Amortization of net actuarial losses and prior service credit	1	0	0
Settlement loss	0	0	0
Net actuarial (loss)/gain arising during the period	4	(3)	(6)
Total recognized in OCI – pre-tax	$ 5	$ (3)	$ (6)

Pension And Other Retirement _9

Pension And Other Retirement Benefits - Weighted-Average Assumptions Used to Determine Benefit Obligations (Detail) - U.S. Plans	Dec. 31, 2021	Dec. 31, 2020
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate	2.60%	2.24%
Rate of compensation increase	3.63%	3.62%
Other Retirement Plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate	2.65%	2.30%
Rate of compensation increase	0.00%	0.00%

Pension And Other Retirement_10

Pension And Other Retirement Benefits - Weighted-Average Assumptions Used to Determine Net Periodic Benefit Expense (Detail) - U.S. Plans	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate	2.24%	3.04%	4.07%
Expected return on plan assets	5.45%	4.45%	5.65%
Rate of compensation increase	3.62%	3.64%	3.69%
Cash balance plan interest crediting rate	4.50%	4.50%	4.50%
Other Retirement Plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate	2.30%	3.05%	4.10%
Expected return on plan assets	0.00%	0.00%	0.00%
Rate of compensation increase	0.00%	0.00%	0.00%
Cash balance plan interest crediting rate	0.00%	0.00%	0.00%

Pension And Other Retirement_11

Pension And Other Retirement Benefits - Summary of Pension Plan Assets by Category Based on Hierarchy of Fair Value Measurements (Detail) - Pension Plans - U.S. Plans - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Total assets	$ 544	$ 528	$ 395
Percent of total assets	100.00%	100.00%
Level 1
Defined Benefit Plan Disclosure [Line Items]
Total assets	$ 41	$ 39
Level 2
Defined Benefit Plan Disclosure [Line Items]
Total assets	434	421
Measured using NAV practical expedient
Defined Benefit Plan Disclosure [Line Items]
Total assets	69	68
Cash and cash equivalent
Defined Benefit Plan Disclosure [Line Items]
Total assets	$ 4	$ 4
Percent of total assets	1.00%	1.00%
Cash and cash equivalent | Level 2
Defined Benefit Plan Disclosure [Line Items]
Total assets	$ 4	$ 4
Total equity investments
Defined Benefit Plan Disclosure [Line Items]
Total assets	$ 185	$ 203
Percent of total assets	34.00%	38.00%
Total equity investments | Level 2
Defined Benefit Plan Disclosure [Line Items]
Total assets	$ 185	$ 203
U.S. large-cap
Defined Benefit Plan Disclosure [Line Items]
Total assets	$ 135	$ 143
Percent of total assets	25.00%	27.00%
U.S. large-cap | Level 2
Defined Benefit Plan Disclosure [Line Items]
Total assets	$ 135	$ 143
U.S. small and mid-cap
Defined Benefit Plan Disclosure [Line Items]
Total assets	$ 23	$ 28
Percent of total assets	4.00%	5.00%
U.S. small and mid-cap | Level 2
Defined Benefit Plan Disclosure [Line Items]
Total assets	$ 23	$ 28
Emerging markets
Defined Benefit Plan Disclosure [Line Items]
Total assets	$ 27	$ 32
Percent of total assets	5.00%	6.00%
Emerging markets | Level 2
Defined Benefit Plan Disclosure [Line Items]
Total assets	$ 27	$ 32
Total fixed-income investments
Defined Benefit Plan Disclosure [Line Items]
Total assets	$ 330	$ 297
Percent of total assets	61.00%	56.00%
Total fixed-income investments | Level 1
Defined Benefit Plan Disclosure [Line Items]
Total assets	$ 41	$ 39
Total fixed-income investments | Level 2
Defined Benefit Plan Disclosure [Line Items]
Total assets	245	214
Total fixed-income investments | Measured using NAV practical expedient
Defined Benefit Plan Disclosure [Line Items]
Total assets	44	44
Emerging markets bond fund
Defined Benefit Plan Disclosure [Line Items]
Total assets	$ 30	$ 32
Percent of total assets	6.00%	6.00%
Emerging markets bond fund | Measured using NAV practical expedient
Defined Benefit Plan Disclosure [Line Items]
Total assets	$ 30	$ 32
Intermediate-term investment grade U.S. government/ corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Total assets	$ 245	$ 214
Percent of total assets	45.00%	41.00%
Intermediate-term investment grade U.S. government/ corporate bonds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Total assets	$ 245	$ 214
U.S. Treasury Inflation-Protected Securities (TIPs)
Defined Benefit Plan Disclosure [Line Items]
Total assets	$ 24	$ 23
Percent of total assets	4.00%	4.00%
U.S. Treasury Inflation-Protected Securities (TIPs) | Level 1
Defined Benefit Plan Disclosure [Line Items]
Total assets	$ 24	$ 23
Convertible securities
Defined Benefit Plan Disclosure [Line Items]
Total assets	$ 17	$ 16
Percent of total assets	3.00%	3.00%
Convertible securities | Level 1
Defined Benefit Plan Disclosure [Line Items]
Total assets	$ 17	$ 16
Private investment fund—high yield securities
Defined Benefit Plan Disclosure [Line Items]
Total assets	$ 14	$ 12
Percent of total assets	3.00%	2.00%
Private investment fund—high yield securities | Measured using NAV practical expedient
Defined Benefit Plan Disclosure [Line Items]
Total assets	$ 14	$ 12
Other investment—private real estate fund
Defined Benefit Plan Disclosure [Line Items]
Total assets	$ 25	$ 24
Percent of total assets	4.00%	5.00%
Other investment—private real estate fund | Measured using NAV practical expedient
Defined Benefit Plan Disclosure [Line Items]
Total assets	$ 25	$ 24

Pension And Other Retirement_12

Pension And Other Retirement Benefits - Estimated Future Benefits Payments for Retirement Plans (Detail) - U.S. Plans $ in Millions	Dec. 31, 2021USD ($)
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
2022	$ 21
2023	23
2024	32
2025	26
2026	30
2027 - 2031	157
Other Retirement Plans
Defined Benefit Plan Disclosure [Line Items]
2022	1
2023	2
2024	2
2025	2
2026	2
2027 - 2031	$ 15

Stock-Based Compensation Plan_2

Stock-Based Compensation Plans - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	Sep. 15, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
RMS
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of equity interest in RMS prior to obtaining a controlling interest	$ 33
Consideration transferred	5
Share-based payment arrangement, expense	$ 28
Equity Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense		$ 22
Weighted average period to recognize expense		2 years 2 months 12 days
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense		$ 209
Weighted average period to recognize expense		2 years 7 months 6 days
Performance Based Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense		$ 63
Weighted average period to recognize expense		2 years 1 month 6 days
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserve for issuance or grant (shares)		6
Discount allowed to employees on purchase of shares under ESPP plan		5.00%	5.00%	5.00%
1998 and 2001 Plan | Equity Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)		4 years
1998 and 2001 Plan | Performance Based Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)		3 years
1998 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserve for issuance or grant (shares)		33
2001 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserve for issuance or grant (shares)		50.6
2001 Plan | Instruments Other Than Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserve for issuance or grant (shares)		14
RMS Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserve for issuance or grant (shares)	1.2
Award vesting period (in years)		4 years
Directors' Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserve for issuance or grant (shares)		1.7
Award vesting period (in years)		1 year
Minimum | Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee subscription rate as a percentage of compensation		1.00%
Minimum | 1998 and 2001 Plan | Equity Option | Employees at or Near Retirement Eligibility
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)		1 year
Maximum | Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee subscription rate as a percentage of compensation		10.00%
Maximum | 1998 and 2001 Plan | Equity Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period		10 years
Maximum | 1998 and 2001 Plan | Equity Option | Employees at or Near Retirement Eligibility
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)		4 years
Maximum | RMS Plan | Equity Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period		10 years

Stock-Based Compensation Plan_3

Stock-Based Compensation Plans - Stock-Based Compensation Cost and Associated Tax Benefit (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Stock-based compensation expense	$ 175	$ 154	$ 136
Tax benefit	$ 42	$ 30	$ 29

Stock-Based Compensation Plan_4

Stock-Based Compensation Plans - Weighted Average Assumptions used in Determining Fair Value for Options Granted (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Expected dividend yield	0.89%	0.80%	1.14%
Expected stock volatility	28.00%	23.00%	24.00%
Risk-free interest rate	0.82%	1.43%	2.56%
Expected holding period -in years	5 years 7 months 6 days	5 years 8 months 12 days	6 years 2 months 12 days
Grant date fair value (including RMS replacement option awards) (in USD per share)	$ 121.14	$ 60.66	$ 43.29

Stock-Based Compensation Plan_5

Stock-Based Compensation Plans - Summary of Option Activity (Details) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)$ / sharesshares
Shares
Shares, Outstanding, Beginning Balance (in shares) | shares	1
Shares, Granted (in shares) | shares	0.2
Shares, Exercised (in shares) | shares	(0.2)
Shares, Outstanding, Ending Balance (in shares) | shares	1
Shares, Vested and expected to vest (in shares) | shares	1
Shares, Exercisable (in shares) | shares	0.6
Weighted Average Exercise Price Per Share
Weighted Average Exercise Price Per Share, Beginning Balance (in usd per share) | $ / shares	$ 132.80
Weighted Average Exercise Price Per Share, Granted (in usd per share) | $ / shares	249.99
Weighted Average Exercise Price Per Share, Exercised (in usd per share) | $ / shares	101.03
Weighted Average Exercise Price Per Share, Ending Balance (in usd per share) | $ / shares	166.16
Weighted Average Exercise Price Per Share, Vested and expected to vest (in usd per share) | $ / shares	165.26
Weighted Average Exercise Price Per Share, Exercisable (in usd per share) | $ / shares	$ 119.88
Weighted Average Remaining Contractual Term
Weighted Average Remaining Contractual Term, Outstanding (in years)	5 years 9 months 18 days
Weighted Average Remaining Contractual Term, Vested and expected to vest (in years)	5 years 8 months 12 days
Weighted Average Remaining Contractual Term (in years)	4 years 4 months 24 days
Aggregate Intrinsic Value
Aggregate Intrinsic Value, Outstanding | $	$ 224
Aggregate Intrinsic Value, Vested and expected to vest | $	221
Aggregate Intrinsic Value, Exercisable | $	$ 159

Stock-Based Compensation Plan_6

Stock-Based Compensation Plans - Stock Option Exercises and Restricted Stock Vesting (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Proceeds from stock option exercises	$ 24	$ 39	$ 36
Aggregate intrinsic value	55	132	114
Tax benefit realized upon exercise	13	32	27
Restricted Stock
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Fair value of shares vested	194	202	156
Tax benefit realized upon vesting	46	46	36
Performance Based Restricted Stock
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Fair value of shares vested	28	70	47
Tax benefit realized upon vesting	$ 7	$ 17	$ 11

Stock-Based Compensation Plan_7

Stock-Based Compensation Plans - Summary of Nonvested Restricted Stock (Details) - Non Vested Restricted Stock shares in Millions	12 Months Ended
	Dec. 31, 2021$ / sharesshares
Shares
Shares, Beginning Balance (in shares) | shares	1.5
Shares, Granted (in shares) | shares	0.7
Shares, Vested (in shares) | shares	(0.7)
Shares, Forfeited (in shares) | shares	(0.1)
Shares, Ending Balance (in shares) | shares	1.4
Weighted Average Grant Date Fair Value Per Share
Weighted Average Grant Date Fair Value Per Share, Beginning Balance (in usd per share) | $ / shares	$ 201.30
Weighted Average Grant Date Fair Value Per Share, Granted (in usd per share) | $ / shares	296.84
Weighted Average Grant Date Fair Value Per Share, Vested (in usd per share) | $ / shares	177.96
Weighted Average Grant Date Fair Value Per Share, Forfeited (in usd per share) | $ / shares	242.12
Weighted Average Grant Date Fair Value Per Share, Ending Balance (in usd per share) | $ / shares	$ 253.85

Stock-Based Compensation Plan_8

Stock-Based Compensation Plans - Summary of Performance Based Restricted Stock (Details) - Performance Based Restricted Stock shares in Millions	12 Months Ended
	Dec. 31, 2021$ / sharesshares
Performance-Based Restricted Stock
Shares, Beginning Balance (in shares) | shares	0.3
Shares, Granted (in shares) | shares	0.2
Shares, Vested (in shares) | shares	(0.1)
Shares, Ending Balance (in shares) | shares	0.4
Performance based restricted stock, Weighted Average Grant Date Fair Value Per Share
Weighted Average Grant Date Fair Value Per Share, Beginning Balance (in usd per share) | $ / shares	$ 197.19
Weighted Average Grant Date Fair Value Per Share, Granted (in usd per share) | $ / shares	329.71
Weighted Average Grant Date Fair Value Per Share, Vested (in usd per share) | $ / shares	162.06
Weighted Average Grant Date Fair Value Per Share, Ending Balance (in usd per share) | $ / shares	$ 266.89

Income Taxes - Provision for In

Income Taxes - Provision for Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current:
Federal	$ 404	$ 213	$ 179
State and Local	106	68	59
Non-U.S.	249	215	181
Total current	759	496	419
Deferred:
Federal	(172)	6	(19)
State and Local	(45)	0	(3)
Non-U.S.	(1)	(50)	(16)
Total deferred	(218)	(44)	(38)
Total provision for income taxes	$ 541	$ 452	$ 381

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of United States Federal Statutory Tax Rate to Effective Tax Rate on Income Before Provision for Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
U.S. statutory tax rate	21.00%	21.00%	21.00%
State and local taxes, net of federal tax benefit	1.50%	2.30%	2.20%
Benefit of foreign operations	(1.50%)	(1.50%)	(0.10%)
Other	(1.40%)	(1.50%)	(2.10%)
Effective tax rate	19.60%	20.30%	21.00%
Income tax paid	$ 932	$ 514	$ 458

Income Taxes - Source of income

Income Taxes - Source of income Before Provision for Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
U.S.	$ 1,563	$ 1,349	$ 1,039
Non-U.S.	1,192	880	771
Income before provision for income taxes	$ 2,755	$ 2,229	$ 1,810

Income Taxes - Components of De

Income Taxes - Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Account receivable allowances	$ 8	$ 9
Accumulated depreciation and amortization	10	2
Stock-based compensation	50	42
Accrued compensation and benefits	101	99
Capitalized costs	33	39
Operating lease liabilities	134	122
Deferred revenue	252	30
Net operating loss	33	17
Restructuring	1	3
Uncertain tax positions	86	98
Self-insured related reserves	10	10
Loss on net investment hedges - OCI	11	93
Other	16	10
Total deferred tax assets	745	574
Deferred tax liabilities:
Accumulated depreciation and amortization of intangible assets and capitalized software	(659)	(468)
ROU Assets	(102)	(90)
Capital Gains	(31)	(23)
Self-insured related income	(10)	(10)
Revenue Accounting Standard - ASC 606	(7)	(10)
Deferred tax on unremitted foreign earnings	(12)	(16)
Gain on net investment hedges - OCI	(4)	(8)
Other	(6)	(4)
Total deferred tax liabilities	(831)	(629)
Net deferred tax liabilities	(86)	(55)
Valuation allowance	(18)	(15)	$ (9)	$ (5)
Net deferred tax liabilities	$ (104)	$ (70)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2017	Sep. 30, 2018	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2017	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Revision of estimated repatriation tax liability resulting from tax reform legislation	$ 247	$ 236
Reduction in estimated repatriation tax liability resulting from tax act						$ 11
Excess tax benefits from stock compensation			$ 31
Excess benefits from resolution of certain UTPs			70
Decrease to uncertain tax positions			25
Valuation allowance			18	$ 15	$ 9		$ 5
Unrecognized tax benefits			388	483	477		$ 495
Uncertain tax positions if recognized would impact the effective tax rate			353
Net interest expense on UTPs			21	34	28
Interest accrued on UTPs			$ 59	$ 113	$ 82

Income Taxes - Reconciliation_2

Income Taxes - Reconciliation of Uncertain Tax Positions (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Unrecognized Tax Benefits
Unrecognized tax positions, beginning balance	$ 483	$ 477	$ 495
Additions for tax positions related to the current year	102	37	35
Additions for tax positions of prior years	18	17	22
Reductions for tax positions of prior years	0	(2)	(2)
Settlements with taxing authorities	(134)	(5)	(1)
Lapse of statute of limitations	(81)	(41)	(44)
Reclassification to indemnification liability related to MAKS divestiture	0	0	(28)
Unrecognized tax positions, ending balance	$ 388	$ 483	$ 477

Indebtedness - Summary of Total

Indebtedness - Summary of Total Indebtedness (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Principal Amount	$ 7,521	$ 6,430
Fair Value of Interest Rate Swap	(10)	56
Unamortized (Discount) Premium	(48)	(24)
Unamortized Debt Issuance Costs	(50)	(40)
Carrying Amount	$ 7,413	$ 6,422
4.50% 2012 Senior Notes, due 2022
Debt Instrument [Line Items]
Notes payable, interest rate		4.50%
Principal Amount		$ 500
Fair Value of Interest Rate Swap		14
Unamortized (Discount) Premium		(1)
Unamortized Debt Issuance Costs		(1)
Carrying Amount		$ 512
4.875% 2013 Senior Notes, due 2024
Debt Instrument [Line Items]
Notes payable, interest rate	4.875%	4.875%
Principal Amount	$ 500	$ 500
Fair Value of Interest Rate Swap	0	0
Unamortized (Discount) Premium	(1)	(1)
Unamortized Debt Issuance Costs	(1)	(1)
Carrying Amount	$ 498	$ 498
5.25% 2014 Senior Notes, due 2044
Debt Instrument [Line Items]
Notes payable, interest rate	5.25%	5.25%
Principal Amount	$ 600	$ 600
Fair Value of Interest Rate Swap	(7)	0
Unamortized (Discount) Premium	3	3
Unamortized Debt Issuance Costs	(5)	(5)
Carrying Amount	$ 591	$ 598
1.75% 2015 Senior Notes, due 2027
Debt Instrument [Line Items]
Notes payable, interest rate	1.75%	1.75%
Principal Amount	$ 568	$ 612
Fair Value of Interest Rate Swap	0	0
Unamortized (Discount) Premium	0	0
Unamortized Debt Issuance Costs	(2)	(2)
Carrying Amount	$ 566	$ 610
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	5	12
Unamortized (Discount) Premium	0	0
Unamortized Debt Issuance Costs	(1)	(2)
Carrying Amount	$ 504	$ 510
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	8	31
Unamortized (Discount) Premium	(3)	(4)
Unamortized Debt Issuance Costs	(2)	(3)
Carrying Amount	$ 503	$ 524
4.25% 2018 Senior Notes, due 2029
Debt Instrument [Line Items]
Notes payable, interest rate	4.25%	4.25%
Principal Amount	$ 400	$ 400
Fair Value of Interest Rate Swap	0	0
Unamortized (Discount) Premium	(2)	(3)
Unamortized Debt Issuance Costs	(2)	(3)
Carrying Amount	$ 396	$ 394
4.875% 2018 Senior Notes, due 2048
Debt Instrument [Line Items]
Notes payable, interest rate	4.875%	4.875%
Principal Amount	$ 400	$ 400
Fair Value of Interest Rate Swap	(7)	0
Unamortized (Discount) Premium	(6)	(6)
Unamortized Debt Issuance Costs	(4)	(4)
Carrying Amount	383	390
0.950% 2019 Senior Note, due 2030
Debt Instrument [Line Items]
Principal Amount	853	918
Fair Value of Interest Rate Swap	0	0
Unamortized (Discount) Premium	(2)	(3)
Unamortized Debt Issuance Costs	(5)	$ (6)
Carrying Amount	$ 846
3.75% 2020 Senior Notes, due 2025
Debt Instrument [Line Items]
Notes payable, interest rate	3.75%	3.75%
Principal Amount	$ 700	$ 700
Fair Value of Interest Rate Swap	(9)	(1)
Unamortized (Discount) Premium	(1)	(1)
Unamortized Debt Issuance Costs	(4)	(5)
Carrying Amount	$ 686	$ 693
3.25% 2020 Senior Notes, due 2050
Debt Instrument [Line Items]
Notes payable, interest rate	3.25%	3.25%
Principal Amount	$ 300	$ 300
Fair Value of Interest Rate Swap	0	0
Unamortized (Discount) Premium	(4)	(4)
Unamortized Debt Issuance Costs	(3)	(3)
Carrying Amount	$ 293	$ 293
2.55% 2020 Senior Notes, due 2060
Debt Instrument [Line Items]
Notes payable, interest rate	2.55%	2.55%
Principal Amount	$ 500	$ 500
Fair Value of Interest Rate Swap	0	0
Unamortized (Discount) Premium	(4)	(4)
Unamortized Debt Issuance Costs	(5)	(5)
Carrying Amount	$ 491	$ 491
2.00% 2021 Senior Notes, due 2031
Debt Instrument [Line Items]
Notes payable, interest rate	2.00%
Principal Amount	$ 600
Fair Value of Interest Rate Swap	0
Unamortized (Discount) Premium	(8)
Unamortized Debt Issuance Costs	(5)
Carrying Amount	$ 587
2.75% 2021 Senior Notes, due 2041
Debt Instrument [Line Items]
Notes payable, interest rate	2.75%
Principal Amount	$ 600
Fair Value of Interest Rate Swap	0
Unamortized (Discount) Premium	(13)
Unamortized Debt Issuance Costs	(6)
Carrying Amount	$ 581
3.10% 2021 Senior Notes, due 2061
Debt Instrument [Line Items]
Notes payable, interest rate	3.10%
Principal Amount	$ 500
Fair Value of Interest Rate Swap	0
Unamortized (Discount) Premium	(7)
Unamortized Debt Issuance Costs	(5)
Carrying Amount	$ 488
0.950% 2019 Senior Note, due 2030
Debt Instrument [Line Items]
Notes payable, interest rate	0.95%	0.95%
Principal Amount	$ 853
Carrying Amount	$ 846	$ 909

Indebtedness - Schedule of Cred

Indebtedness - Schedule of Credit Facilities (Details) - USD ($)	Dec. 31, 2021	Dec. 17, 2021	Dec. 31, 2020	Nov. 14, 2018
2018 Credit Facility
Line of Credit Facility [Line Items]
Maximum Borrowing Capacity				$ 1,000,000,000
Drawn	$ 0		$ 0
Undrawn	0		1,000,000,000
2021 Credit Facility
Line of Credit Facility [Line Items]
Maximum Borrowing Capacity		$ 1,250,000,000
Drawn	0		0
Undrawn	$ 1,250,000,000		$ 0

Indebtedness - Additional Infor

Indebtedness - Additional Information (Detail) - USD ($)	Dec. 17, 2021	Dec. 31, 2021	Nov. 14, 2018
Debt Instrument [Line Items]
Make-whole amount		$ 13,000,000
Benefit pursuant to the resolution of tax matters		45,000,000
4.50% 2012 Senior Notes, due 2022
Debt Instrument [Line Items]
Repayments of debt		$ 500,000,000
2021 Credit Facility
Debt Instrument [Line Items]
Term	5 years
Maximum borrowing capacity	$ 1,250,000,000
2021 Credit Facility | Term Loan Facility Any Fiscal Quarter
Debt Instrument [Line Items]
Debt/EBITDA ratio		4
2021 Credit Facility | First Three Consecutive Quarters immediately following Any Acquisition
Debt Instrument [Line Items]
Debt/EBITDA ratio		4.5
2021 Credit Facility | Minimum
Debt Instrument [Line Items]
Facility fee basis points		0.07%
Contingent consideration arising from acquisitions, payment or settlement		$ 500,000,000
2021 Credit Facility | Maximum
Debt Instrument [Line Items]
Facility fee basis points		0.15%
2018 Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 1,000,000,000
2018 Credit Facility | Term Loan Facility Any Fiscal Quarter
Debt Instrument [Line Items]
Debt/EBITDA ratio		4
2018 Credit Facility | First Three Consecutive Quarters immediately following Any Acquisition
Debt Instrument [Line Items]
Debt/EBITDA ratio		4.5
2018 Credit Facility | Minimum
Debt Instrument [Line Items]
Facility fee basis points		0.07%
Contingent consideration arising from acquisitions, payment or settlement		$ 500,000,000
2018 Credit Facility | Maximum
Debt Instrument [Line Items]
Facility fee basis points		0.15%
Commercial Paper
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 1,000,000,000
Commercial paper		$ 0
Commercial Paper | Maximum
Debt Instrument [Line Items]
Term		397 days
4.50% 2012 Senior Notes, due 2022
Debt Instrument [Line Items]
Accretion expense		$ 8,000,000
Alternate Base Rate | 2018 Credit Facility | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (percent)		0.00%
Alternate Base Rate | 2018 Credit Facility | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (percent)		0.225%
Adjusted LIBOR | 2021 Credit Facility | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (percent)		0.805%
Adjusted LIBOR | 2021 Credit Facility | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (percent)		1.225%
Adjusted LIBOR | 2018 Credit Facility | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (percent)		0.805%
Adjusted LIBOR | 2018 Credit Facility | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (percent)		1.225%

Indebtedness - Principal Paymen

Indebtedness - Principal Payments Due on Long-Term Borrowings (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
2022	$ 0
2023	500
2024	500
2025	700
2026	0
Thereafter	5,821
Total principal payment	7,521	$ 6,430
4.50% 2012 Senior Notes, due 2022
Debt Instrument [Line Items]
Total principal payment		500
4.875% 2013 Senior Notes, due 2024
Debt Instrument [Line Items]
2024	500
Total principal payment	500	500
5.25% 2014 Senior Notes, due 2044
Debt Instrument [Line Items]
Thereafter	600
Total principal payment	600	600
1.75% 2015 Senior Notes, due 2027
Debt Instrument [Line Items]
Thereafter	568
Total principal payment	568	612
2.625% 2017 Senior Notes, due 2023
Debt Instrument [Line Items]
2023	500
Total principal payment	500	500
2017 Senior Notes due 2028
Debt Instrument [Line Items]
Thereafter	500
Total principal payment	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% 2019 Senior Note, due 2030
Debt Instrument [Line Items]
Thereafter	853
Total principal payment	853
3.75% 2020 Senior Notes, due 2025
Debt Instrument [Line Items]
2025	700
Total principal payment	700	700
3.25% 2020 Senior Notes, due 2050
Debt Instrument [Line Items]
Thereafter	300
Total principal payment	300	300
2.55% 2020 Senior Notes, due 2060
Debt Instrument [Line Items]
Thereafter	500
Total principal payment	500	$ 500
2.00% 2021 Senior Notes, due 2031
Debt Instrument [Line Items]
Thereafter	600
Total principal payment	600
2.75% 2021 Senior Notes, due 2041
Debt Instrument [Line Items]
Thereafter	600
Total principal payment	600
3.10% 2021 Senior Notes, due 2061
Debt Instrument [Line Items]
Thereafter	500
Total principal payment	$ 500

Indebtedness - Summary of Compo

Indebtedness - Summary of Components of Interest as Presented in Consolidated Statements of Operations (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
Expense on borrowings	$ (185)	$ (163)	$ (176)
Expense on UTPs and other tax related liabilities(1)	21	(34)	(28)
Net periodic pension costs--interest component	(16)	(19)	(22)
Income	9	11	17
Capitalized	0	0	1
Total	(171)	(205)	(208)
Interest paid	$ 162	$ 132	$ 167

Indebtedness - Fair Value and C

Indebtedness - Fair Value and Carrying Value of Long-Term Debt (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Carrying Amount	$ 7,413	$ 6,422
4.50% 2012 Senior Notes, due 2022
Debt Instrument [Line Items]
Notes payable, interest rate		4.50%
Carrying Amount		$ 512
4.875% 2013 Senior Notes, due 2024
Debt Instrument [Line Items]
Notes payable, interest rate	4.875%	4.875%
Carrying Amount	$ 498	$ 498
5.25% 2014 Senior Notes, due 2044
Debt Instrument [Line Items]
Notes payable, interest rate	5.25%	5.25%
Carrying Amount	$ 591	$ 598
1.75% 2015 Senior Notes, due 2027
Debt Instrument [Line Items]
Notes payable, interest rate	1.75%	1.75%
Carrying Amount	$ 566	$ 610
2.625% 2017 Senior Notes, due 2023
Debt Instrument [Line Items]
Notes payable, interest rate	2.625%	2.625%
Carrying Amount	$ 504	$ 510
3.25% 2017 Senior Notes, due 2028
Debt Instrument [Line Items]
Notes payable, interest rate	3.25%	3.25%
Carrying Amount	$ 503	$ 524
4.25% 2018 Senior Notes, due 2029
Debt Instrument [Line Items]
Notes payable, interest rate	4.25%	4.25%
Carrying Amount	$ 396	$ 394
4.875% 2018 Senior Notes, due 2048
Debt Instrument [Line Items]
Notes payable, interest rate	4.875%	4.875%
Carrying Amount	$ 383	$ 390
0.950% 2019 Senior Note, due 2030
Debt Instrument [Line Items]
Notes payable, interest rate	0.95%	0.95%
Carrying Amount	$ 846	$ 909
3.75% 2020 Senior Notes, due 2025
Debt Instrument [Line Items]
Notes payable, interest rate	3.75%	3.75%
Carrying Amount	$ 686	$ 693
3.25% 2020 Senior Notes, due 2050
Debt Instrument [Line Items]
Notes payable, interest rate	3.25%	3.25%
Carrying Amount	$ 293	$ 293
2.55% 2020 Senior Notes, due 2060
Debt Instrument [Line Items]
Notes payable, interest rate	2.55%	2.55%
Carrying Amount	$ 491	$ 491
2.00% 2021 Senior Notes, due 2031
Debt Instrument [Line Items]
Notes payable, interest rate	2.00%
Carrying Amount	$ 587
2.75% 2021 Senior Notes, due 2041
Debt Instrument [Line Items]
Notes payable, interest rate	2.75%
Carrying Amount	$ 581
3.10% 2021 Senior Notes, due 2061
Debt Instrument [Line Items]
Notes payable, interest rate	3.10%
Carrying Amount	$ 488
Level 2
Debt Instrument [Line Items]
Estimated Fair Value	7,982	7,256
Level 2 | 4.50% 2012 Senior Notes, due 2022
Debt Instrument [Line Items]
Estimated Fair Value		530
Level 2 | 4.875% 2013 Senior Notes, due 2024
Debt Instrument [Line Items]
Estimated Fair Value	538	562
Level 2 | 5.25% 2014 Senior Notes, due 2044
Debt Instrument [Line Items]
Estimated Fair Value	805	828
Level 2 | 1.75% 2015 Senior Notes, due 2027
Debt Instrument [Line Items]
Estimated Fair Value	607	674
Level 2 | 2.625% 2017 Senior Notes, due 2023
Debt Instrument [Line Items]
Estimated Fair Value	509	522
Level 2 | 3.25% 2017 Senior Notes, due 2028
Debt Instrument [Line Items]
Estimated Fair Value	539	561
Level 2 | 4.25% 2018 Senior Notes, due 2029
Debt Instrument [Line Items]
Estimated Fair Value	451	480
Level 2 | 4.875% 2018 Senior Notes, due 2048
Debt Instrument [Line Items]
Estimated Fair Value	526	544
Level 2 | 0.950% 2019 Senior Note, due 2030
Debt Instrument [Line Items]
Estimated Fair Value	866	974
Level 2 | 3.75% 2020 Senior Notes, due 2025
Debt Instrument [Line Items]
Estimated Fair Value	750	785
Level 2 | 3.25% 2020 Senior Notes, due 2050
Debt Instrument [Line Items]
Estimated Fair Value	311	329
Level 2 | 2.55% 2020 Senior Notes, due 2060
Debt Instrument [Line Items]
Estimated Fair Value	432	$ 467
Level 2 | 2.00% 2021 Senior Notes, due 2031
Debt Instrument [Line Items]
Estimated Fair Value	581
Level 2 | 2.75% 2021 Senior Notes, due 2041
Debt Instrument [Line Items]
Estimated Fair Value	579
Level 2 | 3.10% 2021 Senior Notes, due 2061
Debt Instrument [Line Items]
Estimated Fair Value	$ 488

Capital Stock - Additional Info

Capital Stock - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	Feb. 07, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Class of Stock [Line Items]
All classes of stock, shares authorized (in shares)		1,020,000,000
Shares of all classes of stock, par value (in usd per share)		$ 0.01
Common stock, shares authorized (in shares)		1,000,000,000	1,000,000,000
Preferred stock, shares authorized (in shares)		10,000,000	10,000,000
Shares issued during the period for stock-based compensation plans (in shares)		800,000
Series Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)		10,000,000	10,000,000
Treasury Stock
Class of Stock [Line Items]
Treasury stock, shares, acquired (in shares)		2,200,000	2,000,000	5,200,000
Subsequent Event
Class of Stock [Line Items]
Amount Authorized	$ 750
Dividend declared, declaration date	Feb. 7, 2022
Quarterly dividend declared (in dollars per share)	$ 0.70
Dividend declared, payable date	Mar. 18, 2022
Dividend declared, record date	Feb. 25, 2022

Capital Stock - Share Repurchas

Capital Stock - Share Repurchase Programs (Detail)	Dec. 31, 2021USD ($)
Equity, Class of Treasury Stock [Line Items]
Remaining Authority	$ 1,081,000,000
February 9, 2021
Equity, Class of Treasury Stock [Line Items]
Amount Authorized	1,000,000,000
Remaining Authority	1,000,000,000
December 16, 2019
Equity, Class of Treasury Stock [Line Items]
Amount Authorized	1,000,000,000
Remaining Authority	$ 81,000,000

Capital Stock - Dividends Paid

Capital Stock - Dividends Paid (Detail) - $ / shares	3 Months Ended												12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Stockholders' Equity Note [Abstract]
Dividends declared per share (in USD per share)	$ 0.62	$ 0.62	$ 0.62	$ 0.62	$ 0.56	$ 0.56	$ 0.56	$ 0.56	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 2.48	$ 2.24	$ 2
Dividends per share paid (in USD per share)	$ 0.62	$ 0.62	$ 0.62	$ 0.62	$ 0.56	$ 0.56	$ 0.56	$ 0.56	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 2.48	$ 2.24	$ 2

Lease Commitments - Additional

Lease Commitments - Additional Information (Detail)	Dec. 31, 2021
Minimum
Lessee, Lease, Description [Line Items]
Operating lease, renewal term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Operating lease, renewal term	20 years

Lease Commitments - Components

Lease Commitments - Components of Lease Cost (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Lease, Cost [Abstract]
Operating lease cost	$ 98	$ 96	$ 97
Sublease income	(6)	(5)	(2)
Variable lease cost	19	19	17
Total lease cost	$ 111	$ 110	$ 112

Lease Commitments - Operating L

Lease Commitments - Operating Leases Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 113	$ 108	$ 106
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 137	$ 36	$ 41
Weighted-average remaining lease term (years)	5 years 7 months 6 days	6 years	6 years 9 months 18 days
Weighted-average discount rate applied to operating leases (percent)	3.10%	3.60%	3.60%

Lease Commitments - Operating_2

Lease Commitments - Operating Leases, Future Minimum Payment (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
2022	$ 121
2023	118
2024	109
2025	93
2026	74
Thereafter	95
Total lease payments (undiscounted)	610
Less: Interest	50
Present value of lease liabilities:	560
Lease liabilities - current	105	$ 94
Lease liabilities - noncurrent	$ 455	$ 427

Segment Information - Additiona

Segment Information - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)segmentlineOfBusiness
Segment Reporting Information [Line Items]
Number of operating segments | segment	2
Number of reportable segments | segment	2
MIS
Segment Reporting Information [Line Items]
Number of lines of business | lineOfBusiness	5
MA
Segment Reporting Information [Line Items]
Number of lines of business | lineOfBusiness	2
2018 Restructuring Program | MIS
Segment Reporting Information [Line Items]
Cumulative expense incurred through December 31, 2021	$ 60
2018 Restructuring Program | MA
Segment Reporting Information [Line Items]
Cumulative expense incurred through December 31, 2021	43
2020 Real Estate Rationalization Restructuring Program | MIS
Segment Reporting Information [Line Items]
Cumulative expense incurred through December 31, 2021	21
2020 Real Estate Rationalization Restructuring Program | MA
Segment Reporting Information [Line Items]
Cumulative expense incurred through December 31, 2021	15
2020 MA Strategic Reorganization Restructuring Program | MA
Segment Reporting Information [Line Items]
Cumulative expense incurred through December 31, 2021	$ 20

Segment Information - Financial

Segment Information - Financial Information by Segment (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information, Operating Income (Loss) [Abstract]
Revenue	$ 6,218	$ 5,371	$ 4,829
Operating, SG&A	3,117	2,704	2,538
Adjusted Operating Income	3,101	2,667	2,291
Depreciation and amortization	257	220	200
Restructuring	0	50	60
Acquisition-Related Expenses	0	0	3
Loss pursuant to the divestiture of MAKS	0	9	14
Captive insurance company settlement			16
Operating income	2,844	2,388	1,998
Eliminations
Segment Reporting Information, Operating Income (Loss) [Abstract]
Revenue	(172)	(155)	(143)
Operating, SG&A	(172)	(155)	(143)
Adjusted Operating Income	0	0	0
Depreciation and amortization	0	0	0
Restructuring	0	0	0
Acquisition-Related Expenses			0
Loss pursuant to the divestiture of MAKS	0	0	0
Captive insurance company settlement			0
MIS
Segment Reporting Information, Operating Income (Loss) [Abstract]
Revenue	3,812	3,292	2,875
MIS | Operating Segments
Segment Reporting Information, Operating Income (Loss) [Abstract]
Revenue	3,977	3,440	3,009
Operating, SG&A	1,503	1,387	1,264
Adjusted Operating Income	2,474	2,053	1,745
Depreciation and amortization	72	70	71
Restructuring	(1)	19	31
Acquisition-Related Expenses			0
Loss pursuant to the divestiture of MAKS	0	0	0
Captive insurance company settlement			10
MA
Segment Reporting Information, Operating Income (Loss) [Abstract]
Revenue	2,406	2,079	1,954
MA | Operating Segments
Segment Reporting Information, Operating Income (Loss) [Abstract]
Revenue	2,413	2,086	1,963
Operating, SG&A	1,786	1,472	1,417
Adjusted Operating Income	627	614	546
Depreciation and amortization	185	150	129
Restructuring	1	31	29
Acquisition-Related Expenses			3
Loss pursuant to the divestiture of MAKS	$ 0	$ 9	14
Captive insurance company settlement			$ 6

Segment Information - Consolida

Segment Information - Consolidated Revenue Information by Geographic Area (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Revenue	$ 6,218	$ 5,371	$ 4,829
Long-lived assets	9,251	7,051	5,968
U.S.
Segment Reporting Information [Line Items]
Revenue	3,416	2,955	2,544
Long-lived assets	4,449	2,162	1,290
Non-U.S.
Segment Reporting Information [Line Items]
Revenue	2,802	2,416	2,285
Long-lived assets	4,802	4,889	4,678
EMEA
Segment Reporting Information [Line Items]
Revenue	1,866	1,545	1,446
Asia-Pacific
Segment Reporting Information [Line Items]
Revenue	596	571	551
Americas
Segment Reporting Information [Line Items]
Revenue	$ 340	$ 300	$ 288

Valuation and Qualifying Acco_3

Valuation and Qualifying Accounts - Summary of Activity for Valuation Allowances (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning balance, Accounts receivable allowance	$ (34)	$ (20)	$ (20)
Charged to costs and expenses, Accounts receivable allowance	(13)	(26)	(10)
Deductions, Accounts receivable allowance	15	14	10
Ending balance, Accounts receivable allowance	(32)	(34)	(20)	$ (20)
Beginning balance, Deferred tax assets valuation allowance	(15)	(9)	(5)
Charged to costs and expenses, Deferred tax assets valuation allowance	(4)	(6)	(4)
Deductions, Deferred tax assets valuation allowance	1	0	0
Ending balance, Deferred tax assets valuation allowance	$ (18)	$ (15)	$ (9)	$ (5)
Accounting Standards Update [Extensible List]		Accounting Standards Update 2016-13	Accounting Standards Update 2016-13	Accounting Standards Update 2018-02
Cumulative Effect, Period of Adoption, Adjustment
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning balance, Accounts receivable allowance		$ 2
Ending balance, Accounts receivable allowance			$ 2

Components of Other Non-Operati

Components of Other Non-Operating (Expense) Income, Net (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other Income and Expenses [Abstract]
FX (loss) gain	$ (1)	$ 2	$ (18)
Purchase Price Hedge Loss	(13)	0	0
Net periodic pension costs—other components	9	13	18
Income from investments in non-consolidated affiliates	60	6	13
Other	27	25	7
Total	82	46	20
Loss on settlement of pension obligation	(8)
Non-cash gain related to minority interest in Bitsight	$ 36	$ 0	$ 0

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event	Feb. 07, 2022$ / shares
Subsequent Event [Line Items]
Dividend declared, declaration date	Feb. 7, 2022
Dividend declared, per share (in dollars per share)	$ 0.70
Dividend declared, payable date	Mar. 18, 2022
Dividend declared, record date	Feb. 25, 2022