Moody's (MCO) 10-Q 26 Jul 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page shares in Millions	6 Months Ended
	Jun. 30, 2023 shares
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	1-14037
Entity Registrant Name	Moody’s Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3998945
Entity Address, Address Line One	7 World Trade Center at 250 Greenwich Street
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10007
City Area Code	(212)
Local Phone Number	553-0300
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)	183.5
Entity Central Index Key	0001059556
Document Fiscal Period Focus	Q2
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Common Stock, par value $0.01 per share
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	MCO
Security Exchange Name	NYSE
1.75% Senior Notes Due 2027
Entity Information [Line Items]
Title of 12(b) Security	1.75% Senior Notes Due 2027
Trading Symbol	MCO 27
Security Exchange Name	NYSE
0.950% Senior Notes Due 2030
Entity Information [Line Items]
Title of 12(b) Security	0.950% Senior Notes Due 2030
Trading Symbol	MCO 30
Security Exchange Name	NYSE

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Revenue	$ 1,494	$ 1,381	$ 2,964	$ 2,903
Expenses
Operating	426	393	854	810
Selling, general, and administrative	415	368	801	739
Depreciation and amortization	93	81	181	159
Restructuring	10	31	24	31
Total expenses	944	873	1,860	1,739
Operating income	550	508	1,104	1,164
Non-operating (expense) income, net
Interest expense, net	(71)	(55)	(119)	(108)
Other non-operating income (expense), net	13	(10)	13	(4)
Total non-operating (expense) income, net	(58)	(65)	(106)	(112)
Income before provision for income taxes	492	443	998	1,052
Provision for income taxes	115	116	120	227
Net income (loss) attributable to parent	$ 377	$ 327	$ 878	$ 825
Earnings per share attributable to Moody's common shareholders
Basic (in usd per share)	$ 2.05	$ 1.78	$ 4.79	$ 4.47
Diluted (in usd per share)	$ 2.05	$ 1.77	$ 4.77	$ 4.45
Weighted average number of shares outstanding
Basic (in shares)	183.5	184.1	183.4	184.6
Diluted (in shares)	184.1	184.9	184.1	185.4

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net Income	$ 377	$ 327	$ 878	$ 825
Other Comprehensive Income (Loss):
Foreign currency translation adjustments - Pre Tax	51	(340)	160	(448)
Foreign currency translation adjustments - Tax	0	3	(2)	4
Foreign currency translation adjustments - Net of Tax	51	(337)	158	(444)
Foreign currency translation adjustments - reclassification of losses included in net income - Pre tax	0	20	0	20
Foreign currency translation adjustments - reclassification of losses included in net income, Tax	0	0	0	0
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Reclassification, Net of Tax	0	20	0	20
Net gains on net investment hedges - Pre Tax	(37)	241	(113)	305
Net gains on net investment hedges - Tax	9	(60)	28	(77)
Net gains on net investment hedges - Net of Tax	(28)	181	(85)	228
Cash Flow Hedges:
Reclassification of losses included in net income - Pre Tax	0	0	1	1
Reclassification of losses included in net income - Tax	(1)	0	(1)	0
Reclassification of losses included in net income - Net of Tax	(1)	0	0	1
Pension and Other Retirement Benefits:
Amortization of actuarial losses and prior service costs included in net income - Pre Tax	(2)	1	(2)	1
Amortization of actuarial losses and prior service costs included in net income, tax expense (benefit)	1	0	1	0
Amortization of actuarial losses and prior service costs included in net income - Net of tax	(1)	1	(1)	1
Net actuarial (losses) and prior service costs - Pre Tax	0	6	0	3
Net actuarial (losses) and prior service costs - Tax	0	(2)	0	(1)
Net actuarial (losses) and prior service costs - Net of Tax	0	4	0	2
Total other comprehensive income (loss) - Pre Tax	12	(72)	46	(118)
Total other comprehensive income (loss) - Tax	9	(59)	26	(74)
Total other comprehensive income (loss) - Net of Tax	21	(131)	72	(192)
Comprehensive income	398	196	950	633
Less: comprehensive income (loss) attributable to noncontrolling interests	2	(3)	(1)	(3)
Comprehensive Income Attributable to Moody's	$ 396	$ 199	$ 951	$ 636

CONSOLIDATED BALANCE SHEETS (UN

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 2,278	$ 1,769
Short-term investments	57	90
Accounts receivable, net of allowance for credit losses of $33 in 2023 and $40 in 2022	1,542	1,652
Other current assets	513	583
Total current assets	4,390	4,094
Property and equipment, net of accumulated depreciation of $1,195 in 2023 and $1,123 in 2022	541	502
Operating lease right-of-use assets	330	346
Goodwill	5,926	5,839
Intangible assets, net	2,138	2,210
Deferred tax assets, net	265	266
Other assets	1,101	1,092
Total assets	14,691	14,349
Current liabilities:
Accounts payable and accrued liabilities	877	1,011
Current portion of operating lease liabilities	105	106
Current portion of long-term debt	300	0
Deferred revenue	1,385	1,258
Total current liabilities	2,667	2,375
Non-current portion of deferred revenue	67	75
Long-term debt	6,923	7,389
Deferred tax liabilities, net	485	457
Uncertain tax positions	204	322
Operating lease liabilities	344	368
Other liabilities	689	674
Total liabilities	11,379	11,660
Contingencies
Shareholders' equity:
Preferred stock, par value $0.01 per share; 10,000,000 shares authorized; no shares issued and outstanding	0	0
Capital surplus	1,124	1,054
Retained earnings	14,213	13,618
Treasury stock, at cost; 159,444,702 and 159,702,362 shares of common stock at June 30, 2023 and December 31, 2022, respectively	(11,626)	(11,513)
Accumulated other comprehensive loss	(570)	(643)
Total Moody's shareholders' equity	3,144	2,519
Noncontrolling interests	168	170
Total shareholders' equity	3,312	2,689
Total liabilities, noncontrolling interests, and shareholders' equity	14,691	14,349
Series Common Stock
Shareholders' equity:
Common stock	0	0
Non Series Common Stock
Shareholders' equity:
Common stock	$ 3	$ 3

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Accounts receivable, allowances	$ 33	$ 40
Accumulated depreciation, property and equipment	$ 1,195	$ 1,123
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
Treasury stock, shares (in shares)	159,444,702	159,702,362
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
Non Series Common Stock
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

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities
Net Income	$ 878	$ 825
Reconciliation of net income to net cash provided by operating activities:
Depreciation and amortization	181	159
Stock-based compensation	97	84
Deferred income taxes	21	65
FX translation losses reclassified to net income	0	20
Changes in assets and liabilities:
Accounts receivable	121	63
Other current assets	78	(172)
Other assets	(24)	(12)
Lease obligations	(9)	(7)
Accounts payable and accrued liabilities	(86)	(276)
Deferred revenue	97	92
Uncertain tax positions	(120)	(44)
Other liabilities	(22)	(36)
Net cash provided by operating activities	1,212	761
Cash flows from investing activities
Capital additions	(127)	(133)
Purchases of investments	(55)	(182)
Sales and maturities of investments	82	99
Receipts from settlements of net investment hedges	0	136
Cash paid for acquisitions, net of cash acquired	(3)	(92)
Net cash used in investing activities	(103)	(172)
Cash flows from financing activities
Repayment of notes	(200)	0
Proceeds from stock-based compensation plans	31	16
Treasury shares	(108)	(871)
Repurchase of shares related to stock-based compensation	(64)	(83)
Dividends	(283)	(259)
Dividends to noncontrolling interest	0	(1)
Issuance of notes	0	491
Debt issuance costs and related fees	0	(5)
Net cash used in financing activities	(624)	(712)
Effect of exchange rate changes on cash and cash equivalents	24	(71)
Increase (decrease) in cash and cash equivalents	509	(194)
Cash and cash equivalents, beginning of period	1,769	1,811
Cash and cash equivalents, end of period	$ 2,278	$ 1,617

CONSOLIDATED STATEMENT OF SHARE

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Millions		Total	Total Moody's Shareholders' Equity	Common Stock	Capital Surplus	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Loss	Non- Controlling Interests
Common stock, shares issued beginning balance (in shares) at Dec. 31, 2021				342,900,000
Treasury stock, common, beginning balance (shares) at Dec. 31, 2021							(157,300,000)
Beginning Balance at Dec. 31, 2021		$ 2,916	$ 2,727	$ 3	$ 885	$ 12,762	$ (10,513)	$ (410)	$ 189
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income		825	825			825			0
Dividends		(260)	(259)			(259)			(1)
Stock-based compensation		84	84		84
Shares issued for stock-based compensation plans at average cost, net		(67)	(67)		(36)		$ (31)
Shares issued for stock-based compensation plans at average cost, net (in shares)							500,000
Shares issued as consideration to acquire kompany	[1]	44	44		35		$ 9
Shares issued as consideration to acquire kompany (shares)	[1]						100,000
Treasury shares repurchased		(871)	(871)		(3)		$ (868)
Treasury shares repurchased (in shares)							(2,700,000)
Currency translation adjustment, net of net investment hedge activity (net of tax)		(196)	(193)					(193)	(3)
Net actuarial gains and prior service cost (net of tax)		2	2					2
Amortization of prior service costs/actuarial losses and settlement charge		1	1					1
Net realized and unrealized gain on cash flow hedges		1	1					1
Common stock, shares issued ending balance (in shares) at Jun. 30, 2022				342,900,000
Treasury stock, common, ending balance (shares) at Jun. 30, 2022							(159,400,000)
Ending Balance at Jun. 30, 2022		2,479	2,294	$ 3	965	13,328	$ (11,403)	(599)	185
Common stock, shares issued beginning balance (in shares) at Mar. 31, 2022				342,900,000
Treasury stock, common, beginning balance (shares) at Mar. 31, 2022							(158,400,000)
Beginning Balance at Mar. 31, 2022		2,582	2,394	$ 3	826	13,132	$ (11,096)	(471)	188
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income		327	327			327			0
Dividends		(131)	(131)			(131)			0
Stock-based compensation		38	38		38
Shares issued for stock-based compensation plans at average cost, net		7	7		6		$ 1
Shares issued for stock-based compensation plans at average cost, net (in shares)							0
Treasury shares repurchased		(213)	(213)		95		$ (308)
Treasury shares repurchased (in shares)							(1,000,000)
Currency translation adjustment, net of net investment hedge activity (net of tax)		(136)	(133)					(133)	(3)
Net actuarial gains and prior service cost (net of tax)		4	4					4
Amortization of prior service costs/actuarial losses and settlement charge		1	1					1
Common stock, shares issued ending balance (in shares) at Jun. 30, 2022				342,900,000
Treasury stock, common, ending balance (shares) at Jun. 30, 2022							(159,400,000)
Ending Balance at Jun. 30, 2022		$ 2,479	2,294	$ 3	965	13,328	$ (11,403)	(599)	185
Common stock, shares issued beginning balance (in shares) at Dec. 31, 2022				342,900,000
Treasury stock, common, beginning balance (shares) at Dec. 31, 2022		(159,702,362)					(159,700,000)
Beginning Balance at Dec. 31, 2022		$ 2,689	2,519	$ 3	1,054	13,618	$ (11,513)	(643)	170
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income		878	878			878			0
Dividends		(284)	(283)			(283)			(1)
Stock-based compensation		97	97		97
Shares issued for stock-based compensation plans at average cost, net		(31)	(31)		(27)		$ (4)
Shares issued for stock-based compensation plans at average cost, net (in shares)							700,000
Treasury shares repurchased		(109)	(109)		0		$ (109)
Treasury shares repurchased (in shares)							(400,000)
Currency translation adjustment, net of net investment hedge activity (net of tax)		73	74					74	(1)
Net actuarial gains and prior service cost (net of tax)		0
Amortization of prior service costs/actuarial losses and settlement charge		$ (1)	(1)					(1)
Common stock, shares issued ending balance (in shares) at Jun. 30, 2023				342,900,000
Treasury stock, common, ending balance (shares) at Jun. 30, 2023		(159,444,702)					(159,400,000)
Ending Balance at Jun. 30, 2023		$ 3,312	3,144	$ 3	1,124	14,213	$ (11,626)	(570)	168
Common stock, shares issued beginning balance (in shares) at Mar. 31, 2023				342,900,000
Treasury stock, common, beginning balance (shares) at Mar. 31, 2023							(159,400,000)
Beginning Balance at Mar. 31, 2023		3,058	2,891	$ 3	1,068	13,979	$ (11,570)	(589)	167
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income		377	377			377			0
Dividends		(144)	(143)			(143)			(1)
Stock-based compensation		50	50		50
Shares issued for stock-based compensation plans at average cost, net		17	17		6		$ 11
Shares issued for stock-based compensation plans at average cost, net (in shares)							300,000
Treasury shares repurchased		(67)	(67)				$ (67)
Treasury shares repurchased (in shares)							(300,000)
Currency translation adjustment, net of net investment hedge activity (net of tax)		23	21					21	2
Net actuarial gains and prior service cost (net of tax)		0
Amortization of prior service costs/actuarial losses and settlement charge		(1)	(1)					(1)
Net realized and unrealized gain on cash flow hedges		$ (1)	(1)					(1)
Common stock, shares issued ending balance (in shares) at Jun. 30, 2023				342,900,000
Treasury stock, common, ending balance (shares) at Jun. 30, 2023		(159,444,702)					(159,400,000)
Ending Balance at Jun. 30, 2023		$ 3,312	$ 3,144	$ 3	$ 1,124	$ 14,213	$ (11,626)	$ (570)	$ 168
[1]Represents a non-cash investing activity relating to the issuance of common stock to fund a portion of the purchase price for kompany

CONSOLIDATED STATEMENT OF SHA_2

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Stockholders' Equity [Abstract]
Dividends (in usd per share)	$ 0.77	$ 0.70	$ 1.54	$ 1.40
Currency translation adjustment, net of net investment hedge activity, tax expense (benefit)	$ 9	$ 57	$ 26	$ 73
Net actuarial gains and prior service cost, tax expense (benefit)	0	2	0	1
Net losses on cash flow hedges - Tax	1
Amortization of prior service costs and actuarial losses, tax expense (benefit)	(1)	0	(1)	0
Net Income	$ 377	$ 327	$ 878	$ 825

DESCRIPTION OF BUSINESS AND BAS

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2023
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 risk assessment firm that empowers organizations and investors to make better decisions. Moody’s reports in two reportable segments: MA and MIS. 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 risk assessment solutions that enable business leaders to identify, measure and manage the implications of interrelated risks and opportunities. 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. These interim financial statements have been prepared in accordance with the instructions to Form 10-Q and should be read in conjunction with the Company’s consolidated financial statements and related notes in the Company’s 2022 annual report on Form 10-K filed with the SEC on February 15, 2023. The results of interim periods are not necessarily indicative of results for the full year or any subsequent period. In the opinion of management, all adjustments (including normal recurring accruals) considered necessary for a fair presentation of financial position, results of operations and cash flows at the dates and for the periods presented have been included. The year-end consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. Certain reclassifications have been made to prior period amounts to conform to the current presentation. Adoption of New Accounting Standards in 2023 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. In December 2022, the FASB issued ASU 2022-06, "Reference Rate Reform—Deferral of the Sunset Date of Topic 848," which deferred the sunset date of Topic 848 to December 31, 2024. These ASU's were effective upon issuance and the amendments may be applied prospectively through December 31, 2024 as the transition from LIBOR is completed. During the first quarter of 2023, the Company modified the contractual terms of certain of its interest rate swaps designated as fair value hedges and cross-currency swaps designated as net investment hedges. These modifications replaced the previous LIBOR/EURIBOR-based reference rates included in the swap agreements to SOFR/ESTR-based rates. Pursuant to the modification of the contractual terms of these instruments, the Company utilized the optional expedients set forth in ASC Topic 848 relating to derivative instruments used in hedging relationships. The aggregate notional amounts of these swaps is disclosed in Note 8. Reclassification of Previously Reported Revenue by LOB In the second quarter of 2023, the Company expanded its disaggregation of revenue disclosures for MA's Decision Solutions LOB to enhance insight and transparency into this business. In conjunction with this new presentation, the Company reclassified certain immaterial revenue relating to structured finance solutions from the Decision Solutions LOB to the Research & Insights LOB. Prior year revenue by LOB disclosures have been reclassified to conform to this new presentation, which is disclosed in Note 2.

REVENUES

REVENUES	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
REVENUES	REVENUES Revenue by Category The following table presents the Company’s revenues disaggregated by LOB: Three Months Ended June 30, Six Months Ended 2023 2022 2023 2022 MA: Decision Solutions (DS) Banking $ 123 $ 110 $ 254 $ 240 Insurance 133 119 266 241 KYC 78 65 148 127 Total DS 334 294 668 608 Research and Insights (R&I) 217 203 432 406 Data and Information (D&I) 196 178 384 356 Total external revenue 747 675 1,484 1,370 Intersegment revenue 4 1 7 3 Total MA 751 676 1,491 1,373 MIS: Corporate Finance (CFG) Investment-grade 94 68 209 182 High-yield 46 31 78 70 Bank loans 68 72 127 185 Other accounts (1) 157 151 307 302 Total CFG 365 322 721 739 Structured Finance (SFG) Asset-backed securities 32 31 59 63 RMBS 25 28 50 63 CMBS 14 27 28 65 Structured credit 31 36 63 75 Other accounts — 1 1 1 Total SFG 102 123 201 267 Financial Institutions (FIG) Banking 97 93 197 182 Insurance 35 24 68 58 Managed investments 10 8 16 13 Other accounts 3 3 6 6 Total FIG 145 128 287 259 Public, Project and Infrastructure Finance (PPIF) Public finance / sovereign 54 55 106 113 Project and infrastructure 73 67 150 132 Total PPIF 127 122 256 245 Total ratings revenue 739 695 1,465 1,510 MIS Other 8 11 15 23 Total external revenue 747 706 1,480 1,533 Intersegment revenue 46 43 91 86 Total MIS 793 749 1,571 1,619 Eliminations (50) (44) (98) (89) Total MCO $ 1,494 $ 1,381 $ 2,964 $ 2,903 (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. The following table presents the Company’s revenues disaggregated by LOB and geographic area: Three Months Ended June 30, 2023 Three Months Ended June 30, 2022 U.S. Non-U.S Total U.S. Non-U.S Total MA: Decision Solutions $ 140 $ 194 $ 334 $ 120 $ 174 $ 294 Research and Insights 119 98 217 115 88 203 Data and Information 68 128 196 62 116 178 Total MA 327 420 747 297 378 675 MIS: Corporate Finance 239 126 365 210 112 322 Structured Finance 60 42 102 83 40 123 Financial Institutions 73 72 145 53 75 128 Public, Project and Infrastructure Finance 83 44 127 78 44 122 Total ratings revenue 455 284 739 424 271 695 MIS Other — 8 8 2 9 11 Total MIS 455 292 747 426 280 706 Total MCO $ 782 $ 712 $ 1,494 $ 723 $ 658 $ 1,381 Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 U.S. Non-U.S Total U.S. Non-U.S Total MA: Decision Solutions $ 279 $ 389 $ 668 $ 253 $ 355 $ 608 Research and Insights 237 195 432 232 174 406 Data and Information 135 249 384 122 234 356 Total MA 651 833 1,484 607 763 1,370 MIS: Corporate Finance 485 236 721 485 254 739 Structured Finance 121 80 201 180 87 267 Financial Institutions 136 151 287 118 141 259 Public, Project and Infrastructure Finance 159 97 256 153 92 245 Total ratings revenue 901 564 1,465 936 574 1,510 MIS Other — 15 15 3 20 23 Total MIS 901 579 1,480 939 594 1,533 Total MCO $ 1,552 $ 1,412 $ 2,964 $ 1,546 $ 1,357 $ 2,903 The following table presents the Company’s reportable segment revenues disaggregated by segment and geographic region: Three Months Ended June 30, Six Months Ended 2023 2022 2023 2022 MA: U.S. $ 327 $ 297 $ 651 $ 607 Non-U.S.: EMEA 289 257 567 520 Asia-Pacific 71 71 151 139 Americas 60 50 115 104 Total Non-U.S. 420 378 833 763 Total MA 747 675 1,484 1,370 MIS: U.S. 455 426 901 939 Non-U.S.: EMEA 181 165 354 358 Asia-Pacific 75 80 146 154 Americas 36 35 79 82 Total Non-U.S. 292 280 579 594 Total MIS 747 706 1,480 1,533 Total MCO $ 1,494 $ 1,381 $ 2,964 $ 2,903 The following tables summarize the split between Transaction Revenue and Recurring Revenue. Three Months Ended June 30, 2023 2022 Transaction Recurring Total Transaction Recurring Total Decision Solutions $ 43 $ 291 $ 334 $ 38 $ 256 $ 294 13 % 87 % 100 % 13 % 87 % 100 % Research and Insights $ 3 $ 214 $ 217 $ 4 $ 199 $ 203 1 % 99 % 100 % 2 % 98 % 100 % Data and Information $ 1 $ 195 $ 196 $ — $ 178 $ 178 1 % 99 % 100 % — % 100 % 100 % Total MA $ 47 (1) $ 700 $ 747 $ 42 $ 633 $ 675 6 % 94 % 100 % 6 % 94 % 100 % Corporate Finance $ 236 $ 129 $ 365 $ 199 $ 123 $ 322 65 % 35 % 100 % 62 % 38 % 100 % Structured Finance $ 48 $ 54 $ 102 $ 73 $ 50 $ 123 47 % 53 % 100 % 59 % 41 % 100 % Financial Institutions $ 73 $ 72 $ 145 $ 57 $ 71 $ 128 50 % 50 % 100 % 45 % 55 % 100 % Public, Project and Infrastructure Finance $ 84 $ 43 $ 127 $ 82 $ 40 $ 122 66 % 34 % 100 % 67 % 33 % 100 % MIS Other $ 2 $ 6 $ 8 $ 1 $ 10 $ 11 25 % 75 % 100 % 9 % 91 % 100 % Total MIS $ 443 $ 304 $ 747 $ 412 $ 294 $ 706 59 % 41 % 100 % 58 % 42 % 100 % Total Moody's Corporation $ 490 $ 1,004 $ 1,494 $ 454 $ 927 $ 1,381 33 % 67 % 100 % 33 % 67 % 100 % Six Months Ended June 30, 2023 2022 Transaction Recurring Total Transaction Recurring Total Decision Solutions $ 83 $ 585 $ 668 $ 78 $ 530 $ 608 12 % 88 % 100 % 13 % 87 % 100 % Research and Insights $ 8 $ 424 $ 432 $ 8 $ 398 $ 406 2 % 98 % 100 % 2 % 98 % 100 % Data and Information $ 1 $ 383 $ 384 $ — $ 356 $ 356 — % 100 % 100 % — % 100 % 100 % Total MA $ 92 (1) $ 1,392 $ 1,484 $ 86 $ 1,284 $ 1,370 6 % 94 % 100 % 6 % 94 % 100 % Corporate Finance $ 466 $ 255 $ 721 $ 492 $ 247 $ 739 65 % 35 % 100 % 67 % 33 % 100 % Structured Finance $ 94 $ 107 $ 201 $ 166 $ 101 $ 267 47 % 53 % 100 % 62 % 38 % 100 % Financial Institutions $ 143 $ 144 $ 287 $ 118 $ 141 $ 259 50 % 50 % 100 % 46 % 54 % 100 % Public, Project and Infrastructure Finance $ 169 $ 87 $ 256 $ 161 $ 84 $ 245 66 % 34 % 100 % 66 % 34 % 100 % MIS Other $ 3 $ 12 $ 15 $ 2 $ 21 $ 23 20 % 80 % 100 % 9 % 91 % 100 % Total MIS $ 875 $ 605 $ 1,480 $ 939 $ 594 $ 1,533 59 % 41 % 100 % 61 % 39 % 100 % Total Moody's Corporation $ 967 $ 1,997 $ 2,964 $ 1,025 $ 1,878 $ 2,903 33 % 67 % 100 % 35 % 65 % 100 % (1) Revenue from software implementation services and risk management advisory projects, while classified by management as transactional revenue, is recognized over time under U.S. GAAP (please also refer to the following table). The following table presents the timing of revenue recognition: Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 MA MIS Total MA MIS Total Revenue recognized at a point in time $ 22 $ 443 $ 465 $ 49 $ 875 $ 924 Revenue recognized over time 725 304 1,029 1,435 605 2,040 Total $ 747 $ 747 $ 1,494 $ 1,484 $ 1,480 $ 2,964 Three Months Ended June 30, 2022 Six Months Ended June 30, 2022 MA MIS Total MA MIS Total Revenue recognized at a point in time $ 16 $ 412 $ 428 $ 57 $ 939 $ 996 Revenue recognized over time 659 294 953 1,313 594 1,907 Total $ 675 $ 706 $ 1,381 $ 1,370 $ 1,533 $ 2,903 Unbilled receivables, deferred revenue and remaining performance obligations Unbilled receivables 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. In addition, certain MIS arrangements contain contractual terms whereby the customers are billed in arrears for annual monitoring services, requiring revenue to be accrued as an unbilled receivable as such services are provided. The following table presents the Company's unbilled receivables, which are included within accounts receivable, net, at June 30, 2023 and December 31, 2022: As of June 30, 2023 As of December 31, 2022 MA MIS MA MIS Unbilled Receivables $ 119 $ 428 $ 148 $ 385 Deferred revenue The Company recognizes deferred revenue when a contract requires a customer to pay consideration to the Company in advance of when revenue related to that contract is recognized. This deferred revenue is relieved when the Company satisfies the related performance obligation and revenue is recognized. Significant changes in the deferred revenue balances during the three and six months ended June 30, 2023 and 2022 are as follows: Three Months Ended June 30, 2023 Three Months Ended June 30, 2022 MA MIS Total MA MIS Total Balance at March 31, $ 1,288 $ 360 $ 1,648 $ 1,234 $ 377 $ 1,611 Changes in deferred revenue Revenue recognized that was included in the deferred revenue balance at the beginning of the period (592) (116) (708) (391) (117) (508) Increases due to amounts billable excluding amounts recognized as revenue during the period 417 91 508 213 94 307 Effect of exchange rate changes 3 1 4 (37) (7) (44) Total changes in deferred revenue (172) (24) (196) (215) (30) (245) Balance at June 30, $ 1,116 $ 336 $ 1,452 $ 1,019 $ 347 $ 1,366 Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 MA MIS Total MA MIS Total Balance at December 31, $ 1,055 $ 278 $ 1,333 $ 1,039 $ 296 $ 1,335 Changes in deferred revenue Revenue recognized that was included in the deferred revenue balance at the beginning of the period (788) (160) (948) (654) (155) (809) Increases due to amounts billable excluding amounts recognized as revenue during the period 830 216 1,046 680 215 895 Increases due to acquisitions during the period — — — 1 — 1 Effect of exchange rate changes 19 2 21 (47) (9) (56) Total changes in deferred revenue 61 58 119 (20) 51 31 Balance at June 30, $ 1,116 $ 336 $ 1,452 $ 1,019 $ 347 $ 1,366 Deferred revenue - current $ 1,115 $ 270 $ 1,385 $ 1,017 $ 268 $ 1,285 Deferred revenue - non-current $ 1 $ 66 $ 67 $ 2 $ 79 $ 81 For the MA segment, the decrease in deferred revenue for the three months ended June 30, 2023 was primarily due to the recognition of annual subscription and maintenance billings from December 2022 and January 2023. For the six months ended June 30, 2023, the increase in deferred revenue is primarily attributable to the high concentration of billings in the first quarter. For the MIS segment, the changes in the deferred revenue balance during the three and six months ended June 30, 2023 were primarily related to the significant portion of contract renewals that occurred during the first quarter of 2023 and are generally recognized over a one year period. Remaining performance obligations Remaining performance obligations in the MA segment include both amounts recorded as deferred revenue on the balance sheet as of June 30, 2023 as well as amounts not yet invoiced to customers as of June 30, 2023, largely reflecting future revenue related to signed multi-year arrangements for hosted and installed subscription-based products. As of June 30, 2023, the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $3.2 billion. The Company expects to recognize into revenue approximately 65% of this balance within one year, approximately 25% of this balance between one 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 June 30, 2023, the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $96 million. The Company expects to recognize into revenue approximately 25% of this balance within one year, approximately 50% of this balance between one

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Presented below is a summary of the stock-based compensation cost and associated tax benefit included in the accompanying consolidated statements of operations: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Stock-based compensation cost $ 50 $ 38 $ 97 $ 84 Tax benefit $ 12 $ 9 $ 22 $ 20 In April 2023, stockholders approved an amendment to the 2001 Plan increasing the number of shares of common stock authorized for issuance by 4.0 million. This results in the 2001 Plan now permitting for the grant of up to 54.6 million shares, of which not more than 10.7 million shares are available for grants of awards other than stock options. During the first half of 2023, the Company granted 0.1 million employee stock options, which had a weighted average grant date fair value of $94.67 per share. The Company also granted 0.6 million shares of restricted stock in the first six months of 2023, which had a weighted average grant date fair value of $295.59 per share. Both the employee stock options and restricted stock generally vest ratably over four years. Additionally, the Company granted 0.1 million shares of performance-based awards whereby the number of shares that ultimately vest are based on the achievement of certain non-market-based performance metrics of the Company over three years. The weighted average grant date fair value of these awards was $286.04 per share. The following weighted average assumptions were used in determining the fair value using the Black-Scholes option-pricing model for options granted in 2023: Expected dividend yield 1.04 % Expected stock volatility 29 % Risk-free interest rate 4.18 % Expected holding period 5.8 years Unrecognized stock-based compensation expense at June 30, 2023 was $17 million and $309 million for stock options and unvested restricted stock, respectively, which is expected to be recognized over a weighted average period of 2.1 years and 2.7 years, respectively. Additionally, there was $39 million of unrecognized stock-based compensation expense relating to the aforementioned non-market-based performance-based awards, which is expected to be recognized over a weighted average period of 2.2 years. The following table summarizes information relating to stock option exercises and restricted stock vesting: Six Months Ended 2023 2022 Exercise of stock options: Proceeds from stock option exercises $ 21 $ 4 Aggregate intrinsic value $ 44 $ 5 Tax benefit realized upon exercise $ 10 $ 1 Number of shares exercised (1) 0.2 — Vesting of restricted stock: Fair value of shares vested $ 147 $ 170 Tax benefit realized upon vesting $ 34 $ 40 Number of shares vested 0.5 0.5 Vesting of performance-based restricted stock: Fair value of shares vested $ 24 $ 50 Tax benefit realized upon vesting $ 3 $ 7 Number of shares vested 0.1 0.2

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Moody’s effective tax rate (ETR) was 23.4% and 26.2% for the three months ended June 30, 2023 and 2022, respectively. The 2.8% decrease was primarily due to higher excess tax benefits realized from stock-based compensation, along with a non-deductible foreign currency translation loss in 2022 resulting from the Company no longer conducting commercial operations in Russia. Furthermore, Moody’s ETR for the six months ended June 30, 2023 and 2022 was 12.0% and 21.6%, respectively. The 9.6% decrease in the ETR for the six months ended June 30, 2023 compared to the same period in the prior year was primarily due to tax benefits recognized in the first quarter of 2023, which reflect the resolutions of uncertain tax positions in various U.S. and non-U.S. tax jurisdictions. The Company’s year-to-date provision for income taxes differs from the tax computed by applying its estimated annual effective tax rate to the pre-tax earnings primarily due to the following items recognized in 2023: i) net reductions in UTPs of $117 million related to the resolutions of UTPs; and ii) excess tax benefits from stock-based compensation of $13 million. The Company classifies interest related to UTPs in interest expense, net in its consolidated statements of operations. Penalties, if incurred, would be recognized in other non-operating income (expense), net. 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 2019 through 2020 are currently under examination and 2021 remains open to examination. The Company’s New York City tax returns for 2015 through 2019 are currently under examination. The Company’s U.K. tax returns for 2017 through 2021 remain open to examination. For ongoing audits, it is possible the balance of UTPs could decrease in the next twelve months as a result of the settlement of such 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 will be raised by tax authorities which could necessitate increases to the balance of UTPs. As the Company is unable to predict the timing or outcome of these audits, it is unable to estimate the amount of changes to the balance of UTPs at this time. However, the Company believes that it has adequately provided for its financial exposure relating to all open tax years, by tax jurisdiction, in accordance with the applicable provisions of ASC Topic 740 regarding UTPs. The following table shows the amount the Company paid for income taxes: Six Months Ended June 30, 2023 2022 Income taxes paid $ 122 $ 326 In August 2022, the U.S. Congress passed the Inflation Reduction Act, which included a corporate minimum tax on book earnings of 15%, an excise tax on corporate share repurchases of 1%, and certain climate change and energy tax credit incentives. The adoption of a corporate minimum tax of 15% is not expected to impact Moody’s ETR. The excise tax of 1% on corporate share buybacks will not have an impact on the Company’s ETR for 2023.

RECONCILIATION OF WEIGHTED AVER

RECONCILIATION OF WEIGHTED AVERAGE SHARES OUTSTANDING	6 Months Ended
	Jun. 30, 2023
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: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Basic 183.5 184.1 183.4 184.6 Dilutive effect of shares issuable under stock-based compensation plans 0.6 0.8 0.7 0.8 Diluted 184.1 184.9 184.1 185.4 Anti-dilutive options to purchase common shares and restricted stock as well as contingently issuable restricted stock which are excluded from the table above 0.4 0.8 0.5 0.4 The calculation of basic shares outstanding is based on the weighted average number of shares of common stock outstanding during the reporting period. The calculation of diluted EPS requires certain assumptions regarding the use of both cash proceeds and assumed proceeds that would be received upon the exercise of stock options and vesting of restricted stock outstanding as of June 30, 2023 and 2022.

ACCELERATED SHARE REPURCHASE PR

ACCELERATED SHARE REPURCHASE PROGRAM	6 Months Ended
	Jun. 30, 2023
Other Liabilities Disclosure [Abstract]
ACCELERATED SHARE REPURCHASE PROGRAM	ACCELERATED SHARE REPURCHASE PROGRAM On March 1, 2022, 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 1.2 million shares of its common stock. Final settlement of the ASR agreement was completed in April 2022 and the Company received delivery of an additional 0.3 million shares of the Company’s common stock. In total, the Company repurchased 1.5 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 $324.20 per share over the duration of the program. The initial share repurchase and final share settlement were recorded as a reduction to shareholders’ equity.

CASH EQUIVALENTS AND INVESTMENT

CASH EQUIVALENTS AND INVESTMENTS	6 Months Ended
	Jun. 30, 2023
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 June 30, 2023 Balance sheet location Cost Gains/(Losses) Fair Value Cash and cash equivalents Short-term Other Certificates of deposit and money market deposit accounts/funds (1) $ 1,221 $ — $ 1,221 $ 1,159 $ 57 $ 5 Mutual funds $ 87 $ 4 $ 91 $ — $ — $ 91 As of December 31, 2022 Balance sheet location Cost Gains/(Losses) Fair Value Cash and cash Short-term Other Certificates of deposit and money market deposit accounts (1) $ 914 $ — $ 914 $ 808 $ 90 $ 16 Mutual funds $ 71 $ — $ 71 $ — $ — $ 71 (1) Consists of time deposits, money market deposit accounts and money market funds. The remaining contractual maturities for the certificates of deposits classified as short-term investments are one month to 12 months at both June 30, 2023 and December 31, 2022. The remaining contractual maturities for the certificates of deposits classified in other assets are 13 months to 18 months at June 30, 2023 and 13 months to 24 months at December 31, 2022. Time deposits with a maturity of less than 90 days at time of purchase are classified as cash and cash equivalents. In addition, the Company invested in Corporate-Owned Life Insurance (COLI). As of June 30, 2023 and December 31, 2022, the contract value of the COLI was $47 million and $40 million, respectively.

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	6 Months Ended
	Jun. 30, 2023
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 financial exposures that occur in the normal course of business. The Company does not hold or issue derivatives for speculative purposes. Derivatives and non-derivative instruments designated as accounting hedges: Fair Value Hedges Interest Rate Swaps The Company has entered into interest rate swaps to convert the fixed interest rate on certain of its long-term debt to a floating interest rate based on the SOFR. 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: As of June 30, 2023 As of December 31, 2022 Hedged Item Nature of Swap Notional Amount Floating Interest Rate (1) Notional Amount Floating Interest Rate 2017 Senior Notes due 2028 Pay Floating/Receive Fixed $ 500 SOFR $ 500 3-month LIBOR 2020 Senior Notes due 2025 Pay Floating/Receive Fixed 300 SOFR 300 6-month LIBOR 2014 Senior Notes due 2044 Pay Floating/Receive Fixed 300 SOFR 300 3-month LIBOR 2018 Senior Notes due 2048 Pay Floating/Receive Fixed 300 SOFR 300 3-month LIBOR 2018 Senior Notes due 2029 Pay Floating/Receive Fixed 400 SOFR 400 SOFR 2022 Senior Notes due 2052 Pay Floating/Receive Fixed 500 SOFR 500 SOFR 2022 Senior Notes due 2032 Pay Floating/Receive Fixed 250 SOFR 250 SOFR Total $ 2,550 $ 2,550 (1) Contractual terms of instruments using the 3-month or 6-month LIBOR at December 31, 2022 were modified to the SOFR reference rate in the first quarter of 2023. Refer to Note 14 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/(loss) recognized in the consolidated statements of operations Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Interest expense, net $ (71) $ (55) $ (119) $ (108) Descriptions Location on Consolidated Statements of Operations Net interest settlements and accruals on interest rate swaps Interest expense, net $ (21) $ 3 $ (39) $ 9 Fair value changes on interest rate swaps Interest expense, net $ (46) $ (47) $ — $ (132) Fair value changes on hedged debt Interest expense, net $ 46 $ 47 $ — $ 132 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: June 30, 2023 Pay Receive Nature of Swap Notional Amount Weighted Average Interest Rate Notional Amount Weighted Average Interest Rate Pay Fixed/Receive Fixed € 765 3.67% $ 800 5.25% Pay Floating/Receive Floating 2,138 Based on ESTR 2,250 Based on SOFR Total € 2,903 $ 3,050 December 31, 2022 Pay Receive Nature of Swap Notional Amount Weighted Average Interest Rate Notional Amount Weighted Average Interest Rate Pay Fixed/Receive Fixed € 765 3.67% $ 800 5.25% Pay Floating/Receive Floating 450 Based on 3-month EURIBOR 500 Based on 3-month USD LIBOR Pay Floating/Receive Floating 1,688 Based on ESTR 1,750 Based on SOFR Total € 2,903 $ 3,050 As of June 30, 2023 these hedges will expire and the notional amounts will be settled as follows unless terminated early at the discretion of the Company: Years Ending December 31, 2026 € 450 2027 € 531 2028 € 588 2029 € 373 2031 € 481 2032 € 480 Total € 2,903 The following tables provide information on the gains/(losses) on the Company’s net investment and cash flow hedges: Derivative and Non-Derivative Instruments in Net Investment Hedging Relationships Amount of Gain/(Loss) Recognized in AOCL on Derivative, net of Tax Amount of Loss Reclassified from AOCL into Income, net of Tax Gain Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) Three Months Ended June 30, Three Months Ended June 30, Three Months Ended June 30, 2023 2022 2023 2022 2023 2022 Cross currency swaps $ (24) $ 118 $ — $ — $ 14 $ 11 Long-term debt (4) 63 — — — — Total net investment hedges $ (28) $ 181 $ — $ — $ 14 $ 11 Derivatives in Cash Flow Hedging Relationships Cross currency swap $ — $ — $ 1 $ — $ — $ — Interest rate contracts — — — (1) — — Total cash flow hedges $ — $ — $ 1 $ (1) $ — $ — Total $ (28) $ 181 $ 1 $ (1) $ 14 $ 11 Derivative and Non-Derivative Instruments in Net Investment Hedging Relationships Amount of Gain/(Loss) Recognized in AOCL on Derivative, net of Tax Amount of Loss Reclassified from AOCL into Income, net of Tax Gain Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) Six Months Ended June 30, Six Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 2023 2022 Cross currency swaps $ (63) $ 142 $ — $ — $ 30 $ 21 Long-term debt (22) 86 — — — — Total net investment hedges $ (85) $ 228 $ — $ — $ 30 $ 21 Derivatives in Cash Flow Hedging Relationships Cross currency swap $ — $ — $ 1 $ — $ — $ — Interest rate contracts — — (1) (1) — — Total cash flow hedges $ — $ — $ — $ (1) $ — $ — Total $ (85) $ 228 $ — $ (1) $ 30 $ 21 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 June 30, 2023 December 31, 2022 Net investment hedges Cross currency swaps $ 55 $ 118 FX forwards 29 29 Long-term debt 16 38 Total net investment hedges $ 100 $ 185 Cash flow hedges Interest rate contracts $ (46) $ (47) Cross currency swaps 1 2 Total cash flow hedges (45) (45) Total net gain in AOCL $ 55 $ 140 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 ASC Topic 815. Accordingly, changes in the fair value of these contracts are recognized immediately in other non-operating income (expense), 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 October 2023. The following table summarizes the notional amounts of the Company’s outstanding foreign exchange forwards: June 30, 2023 December 31, 2022 Notional amount of currency pair: Sell Buy Sell Buy Contracts to sell USD for GBP $ 683 £ 548 $ 170 £ 146 Contracts to sell USD for Japanese yen $ 15 ¥ 2,000 $ 24 ¥ 3,500 Contracts to sell USD for Canadian dollars $ 116 C$ 155 $ 87 C$ 120 Contracts to sell USD for Singapore dollars $ 81 S$ 109 $ 50 S$ 70 Contracts to sell USD for euros $ 272 € 250 $ 116 € 115 Contracts to sell USD for Indian rupee $ 23 ₹ 1,900 $ 19 ₹ 1,600 Contracts to sell GBP for USD £ 90 $ 115 £ — $ — Contracts to sell euros for USD € 125 $ 135 € 85 $ 89 NOTE: € = euro, £ = British pound, $ = U.S. dollar, ¥ = Japanese yen, C$ = Canadian dollar, S$= Singapore dollars, ₹= Indian rupee Total Return Swaps Beginning in the second quarter of 2023, the Company entered into total return swaps to mitigate market-driven changes in the value of certain liabilities associated with the Company's deferred compensation plans. The fair value of these swaps at June 30, 2023 and related gains in the three and six months ended June 30, 2023 were not material. The notional amount of the total return swaps as of June 30, 2023 was $59 million. The following table summarizes the impact to the consolidated statements of operations relating to the net losses on the Company’s derivatives which are not designated as hedging instruments: Derivatives not designated as accounting hedges Location on Consolidated Statements of Operations Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 FX forwards Other non-operating income, net $ 10 $ (38) $ 15 $ (57) The table below shows the classification between assets and liabilities on the Company’s consolidated balance sheets for the fair value of the derivative instrument as well as the carrying value of its non-derivative debt instruments designated and qualifying as net investment hedges: Derivative and Non-Derivative Instruments Balance Sheet Location June 30, 2023 December 31, 2022 Assets: Derivatives designated as accounting hedges: Cross-currency swaps designated as net investment hedges Other assets $ 7 $ 27 Derivatives not designated as accounting hedges: FX forwards on certain assets and liabilities Other current assets 10 19 Total assets $ 17 $ 46 Liabilities: Derivatives designated as accounting hedges: Cross-currency swaps designated as net investment hedges Other liabilities $ 142 $ 78 Interest rate swaps designated as fair value hedges Other liabilities 239 239 Total derivatives designated as accounting hedges 381 317 Non-derivatives designated as accounting hedges: Long-term debt designated as net investment hedge Long-term debt 1,364 1,334 Derivatives not designated as accounting hedges: FX forwards on certain assets and liabilities Accounts payable and accrued liabilities 3 2 Total liabilities $ 1,748 $ 1,653

GOODWILL AND OTHER ACQUIRED INT

GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS	GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS The following table summarizes the activity in goodwill for the periods indicated: Six Months Ended June 30, 2023 MA MIS Consolidated Gross goodwill Accumulated Net Gross goodwill Accumulated impairment Net Gross goodwill Accumulated Net Balance at beginning $ 5,474 $ (12) $ 5,462 $ 377 $ — $ 377 $ 5,851 $ (12) $ 5,839 Additions/ adjustments (1) 90 — 90 (87) — (87) 3 — 3 Foreign currency translation adjustments 85 — 85 (1) — (1) 84 — 84 Ending balance $ 5,649 $ (12) $ 5,637 $ 289 $ — $ 289 $ 5,938 $ (12) $ 5,926 Year Ended December 31, 2022 MA MIS Consolidated Gross goodwill Accumulated impairment charge Net goodwill Gross goodwill Accumulated impairment charge Net goodwill Gross goodwill Accumulated impairment charge Net goodwill Balance at beginning $ 5,615 $ (12) $ 5,603 $ 396 $ — $ 396 $ 6,011 $ (12) $ 5,999 Additions/ adjustments (2) 88 — 88 4 — 4 92 — 92 Foreign currency translation (229) — (229) (23) — (23) (252) — (252) Ending balance $ 5,474 $ (12) $ 5,462 $ 377 $ — $ 377 $ 5,851 $ (12) $ 5,839 (1) The 2023 additions/adjustments primarily relate to a reallocation of goodwill pursuant to a realignment of certain components of the Company's ESG business in the first quarter of 2023. (2) The 2022 additions/adjustments for the MA segment in the table above primarily relate to the acquisition of kompany in the first quarter of 2022. Acquired intangible assets and related amortization consisted of: June 30, December 31, Customer relationships $ 2,055 $ 2,024 Accumulated amortization (507) (453) Net customer relationships 1,548 1,571 Software/product technology 670 661 Accumulated amortization (326) (283) Net software/product technology 344 378 Database 178 178 Accumulated amortization (73) (64) Net database 105 114 Trade names 199 197 Accumulated amortization (65) (58) Net trade names 134 139 Other (1) 52 52 Accumulated amortization (45) (44) Net other 7 8 Total acquired intangible assets, net $ 2,138 $ 2,210 (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: Three Months Ended June 30, Six Months Ended 2023 2022 2023 2022 Amortization expense $ 50 $ 51 $ 101 $ 102

RESTRUCTURING

RESTRUCTURING	6 Months Ended
	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
RESTRUCTURING	RESTRUCTURING On June 30, 2022, the chief executive officer of Moody’s approved a restructuring program (the “2022 - 2023 Geolocation Restructuring Program”). T he Company estimates that the program will result in annualized savings of $120 million to $140 million per year. This program relates to the Company's post-COVID-19 geolocation strategy and includes the rationalization and exit of certain leased office spaces and a reduction in staff, including the relocation of certain job functions. The exit from certain leased office spaces began in the fourth quarter of 2022 and is expected to result in $50 million to $70 million of pre-tax charges from vacating the affected office spaces, a large portion of which Moody's intends to sublease. The program is also expected to include $110 million to $120 million of pre-tax personnel-related restructuring charges, an amount that includes severance costs, expense related to the modification of equity awards, and related costs primarily determined under the Company’s existing severance plans. The savings generated from the 2022 - 2023 Geolocation Restructuring Program are expected to strengthen the Company's operating margin, with a portion being deployed to support strategic investments, including the Company's workplace of the future program and employee retention initiatives. The 2022 - 2023 Geolocation Restructuring Program is expected to be substantially complete by the end of 2023. Cash outlays associated with this program, which primarily relate to personnel-related costs, are expected to be $110 million to $120 million, which are expected to be paid through 2024. Total expense included in the accompanying consolidated statements of operations relating to the aforementioned restructuring program is below: Substantially all of the restructuring charges recognized during the three and six months ended June 30, 2023 and June 30, 2022 relate to employee termination costs. Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 2020 MA Strategic Reorganization Restructuring Program $ — $ (1) $ — $ (1) 2022 - 2023 Geolocation Restructuring Program 10 32 24 32 Total Restructuring $ 10 $ 31 $ 24 $ 31 Changes to the restructuring liability for the aforementioned restructuring programs during the first half of 2023 were as follows: Balance as of December 31, 2022 $ 65 2022 - 2023 Geolocation Restructuring Program: Cost incurred and adjustments 22 Cash payments and adjustments (57) Balance as of June 30, 2023 $ 30 Cumulative expense incurred through June 30, 2023 Employee Real Estate Related Other Costs Total 2022 - 2023 Geolocation Restructuring Program $ 107 $ 29 $ 1 $ 137

FAIR VALUE

FAIR VALUE	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE	FAIR VALUE The table below presents information about items that are carried at fair value at June 30, 2023 and December 31, 2022: Fair Value Measurement as of June 30, 2023 Description Balance Level 1 Level 2 Assets: Derivatives (1) $ 17 $ — $ 17 Money market funds/mutual funds 231 231 — Total $ 248 $ 231 $ 17 Liabilities: Derivatives (1) $ 384 $ — $ 384 Total $ 384 $ — $ 384 Fair Value Measurement as of December 31, 2022 Description Balance Level 1 Level 2 Assets: Derivatives (1) $ 46 $ — $ 46 Mutual funds 71 71 — Total $ 117 $ 71 $ 46 Liabilities: Derivatives (1) $ 319 $ — $ 319 Total $ 319 $ — $ 319 (1) Represents fair value of certain derivative contracts as more fully described in Note 8 to the condensed consolidated financial statements. The following are descriptions of the methodologies utilized by the Company to estimate the fair value of its derivative contracts, mutual funds and money market mutual funds: Derivatives: In determining the fair value of the derivative contracts in the table above, the Company utilizes industry standard valuation models. Where applicable, these models project future cash flows and discount the future amounts to a present value using spot rates, forward points, currency volatilities, interest rates as well as the risk of non-performance of the Company and the counterparties with whom it has derivative contracts. The Company established strict counterparty credit guidelines and only enters into transactions with financial institutions that adhere to these guidelines. Accordingly, the risk of counterparty default is deemed to be minimal. Money market funds and mutual funds: The money market funds and mutual funds in the table above are deemed to be equity securities with readily determinable fair values with changes in the fair value recognized through net income under ASC Topic 321. The fair value of these instruments is determined using Level 1 inputs as defined in the ASC Topic 820.

OTHER BALANCE SHEET AND STATEME

OTHER BALANCE SHEET AND STATEMENTS OF OPERATIONS INFORMATION	6 Months Ended
	Jun. 30, 2023
Other Balance Sheet And Statement Of Operations Information [Abstract]
OTHER BALANCE SHEET AND STATEMENTS OF OPERATIONS INFORMATION	OTHER BALANCE SHEET AND STATEMENTS OF OPERATIONS INFORMATION The following tables contain additional detail related to certain balance sheet captions: June 30, 2023 December 31, 2022 Other current assets: Prepaid taxes $ 169 $ 235 Prepaid expenses 112 119 Capitalized costs to obtain and fulfill sales contracts 112 106 Foreign exchange forwards on certain assets and liabilities 10 19 Interest receivable on interest rate and cross currency swaps 78 74 Other 32 30 Total other current assets $ 513 $ 583 Other assets: Investments in non-consolidated affiliates $ 526 $ 517 Deposits for real-estate leases 15 15 Indemnification assets related to acquisitions 107 110 Mutual funds and fixed deposits 96 87 Company owned life insurance (at contract value) 47 40 Costs to obtain sales contracts 176 171 Derivative instruments designated as accounting hedges 7 27 Pension and other retirement employee benefits 39 40 Other 88 85 Total other assets $ 1,101 $ 1,092 Accounts payable and accrued liabilities: Salaries and benefits $ 113 $ 104 Incentive compensation 166 276 Customer credits, advanced payments and advanced billings 99 102 Dividends 5 6 Professional service fees 47 49 Accrued interest 79 93 Accounts payable 37 52 Income taxes 112 86 Pension and other retirement employee benefits 7 7 Accrued royalties 26 23 Foreign exchange forwards on certain assets and liabilities 3 2 Restructuring liability 28 65 Interest payable on interest rate and cross currency swaps 62 51 Other 93 95 Total accounts payable and accrued liabilities $ 877 $ 1,011 June 30, 2023 December 31, 2022 Other liabilities: Pension and other retirement employee benefits $ 195 $ 189 Interest accrued on UTPs 30 47 MAKS indemnification provisions 19 23 Income tax liability - non-current portion 15 48 Derivative instruments designated as accounting hedges 381 317 Restructuring liability - non-current portion 2 — Other 47 50 Total other liabilities $ 689 $ 674 Investments in non-consolidated affiliates: The following table provides additional detail regarding Moody's investments in non-consolidated affiliates, as included in other assets in the consolidated balance sheets: June 30, 2023 December 31, 2022 Equity method investments (1) $ 194 $ 187 Investments measured using the measurement alternative (2) 325 325 Other 7 5 Total investments in non-consolidated affiliates $ 526 $ 517 (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. 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. Earnings from non-consolidated affiliates, which are included within other non-operating income (expense), net, are disclosed within the table below. Other non-operating income (expense), net: The following table summarizes the components of other non-operating income (expense), net: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 FX loss (1) $ (5) $ (22) $ (31) $ (22) Net periodic pension costs - other components 9 6 18 12 Income from investments in non-consolidated affiliates 1 2 3 4 Gains / losses on investments 5 (9) 11 (14) Other (2) 3 13 12 16 Total $ 13 $ (10) $ 13 $ (4) (1) The amount for the six months ended June 30, 2023 includes a $23 million loss recorded pursuant to an immaterial out-of-period adjustment relating to the 2022 fiscal year. The amounts for the three and six months ended June 30, 2022 include FX translation losses of $20 million reclassified to earnings resulting from the Company no longer conducting commercial operations in Russia. (2) The amount for the six months ended June 30, 2023 reflects a benefit of $9 million related to the favorable resolutions of various tax matters. The amounts for the three and six months ended June 30, 2022 reflect an $11 million benefit from a statute of limitations lapse relating to reserves established pursuant to the divestiture of MAKS.

COMPREHENSIVE INCOME AND ACCUMU

COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS	COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS The following table provides details about the reclassifications out of AOCL: Three Months Ended June 30, Location in the consolidated statements of operations Losses on currency translation adjustments 2023 2022 Foreign currency translation adjustments - reclassification of losses included in net income $ — $ (20) Other non-operating income, net Total losses on currency translation adjustments — (20) Gains (losses) on cash flow hedges Interest rate contract — — Other non-operating income, net Income tax effect of item above 1 — Provision for income taxes Total net gains (losses) on cash flow hedges 1 — Pension and other retirement benefits Amortization of actuarial losses and prior service costs included in net income 2 (1) Other non-operating income, net Income tax effect of item above (1) — Provision for income taxes Total pension and other retirement benefits 1 (1) Total net gains (losses) included in Net Income attributable to reclassifications out of AOCL $ 2 $ (21) Six Months Ended June 30, Location in the consolidated statements of operations Losses on currency translation adjustments 2023 2022 Foreign currency translation adjustments - reclassification of losses included in net income $ — $ (20) Other non-operating income, net Total losses on currency translation adjustments — (20) Losses on cash flow hedges Interest rate contract (1) (1) Other non-operating income, net Income tax effect of item above 1 — Provision for income taxes Total net losses on cash flow hedges — (1) Pension and other retirement benefits Amortization of actuarial losses and prior service costs included in net income 2 (1) Other non-operating income, net Income tax effect of item above (1) — Provision for income taxes Total pension and other retirement benefits 1 (1) Total net gains (losses) included in Net Income attributable to reclassifications out of AOCL $ 1 $ (22) The following tables show changes in AOCL by component (net of tax): Three Months Ended June 30, 2023 2022 Gains/(Losses) Pension and Other Retirement Benefits Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Pension and Other Retirement Benefits Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Balance at March 31, $ (47) $ (44) $ (626) $ 128 $ (589) $ (51) $ (46) $ (442) $ 68 $ (471) Other comprehensive income/(loss) before reclassifications — — 49 (28) 21 4 — (334) 181 (149) Amounts reclassified from AOCL (1) (1) — — (2) 1 — 20 — 21 Other comprehensive income/(loss) (1) (1) 49 (28) 19 5 — (314) 181 (128) Balance at June 30, $ (48) $ (45) $ (577) $ 100 $ (570) $ (46) $ (46) $ (756) $ 249 $ (599) Six Months Ended June 30, 2023 2022 Gains/(Losses) Pension and Other Retirement Benefits Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Pension and Other Retirement Benefits Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Balance at December 31, $ (47) $ (45) $ (736) $ 185 $ (643) $ (49) $ (47) $ (335) $ 21 $ (410) Other comprehensive income/(loss) before reclassifications — — 159 (85) 74 2 — (441) 228 (211) Amounts reclassified from AOCL (1) — — — (1) 1 1 20 — 22 Other comprehensive income/(loss) (1) — 159 (85) 73 3 1 (421) 228 (189) Balance at June 30, $ (48) $ (45) $ (577) $ 100 $ (570) $ (46) $ (46) $ (756) $ 249 $ (599)

INDEBTEDNESS

INDEBTEDNESS	6 Months Ended
	Jun. 30, 2023
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 is 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: June 30, 2023 Notes Payable: Principal Amount Fair Value of Interest Rate Swaps (1) Unamortized (Discount) Premium Unamortized Debt Issuance Costs Carrying Value 4.875% 2013 Senior Notes, due 2024 $ 300 $ — $ — $ — $ 300 5.25% 2014 Senior Notes, due 2044 600 (42) 3 (4) 557 1.75% 2015 Senior Notes, due 2027 546 — — (2) 544 3.25% 2017 Senior Notes, due 2028 500 (37) (3) (2) 458 4.25% 2018 Senior Notes, due 2029 400 (42) (2) (2) 354 4.875% 2018 Senior Notes, due 2048 400 (44) (6) (4) 346 0.950% 2019 Senior Notes, due 2030 818 — (2) (4) 812 3.75% 2020 Senior Notes, due 2025 700 (24) — (2) 674 3.25% 2020 Senior Notes, due 2050 300 — (4) (3) 293 2.55% 2020 Senior Notes, due 2060 300 — (2) (3) 295 2.00% 2021 Senior Notes, due 2031 600 — (7) (4) 589 2.75% 2021 Senior Notes, due 2041 600 — (13) (5) 582 3.10% 2021 Senior Notes, due 2061 500 — (7) (5) 488 3.75% 2022 Senior Notes, due 2052 500 (36) (8) (5) 451 4.25% 2022 Senior Notes, due 2032 500 (14) (2) (4) 480 Total debt $ 7,564 $ (239) $ (53) $ (49) $ 7,223 Current portion (300) Total long-term debt $ 6,923 December 31, 2022 Notes Payable: Principal Amount Fair Value of Interest Rate Swaps (1) Unamortized (Discount) Premium Unamortized Debt Issuance Costs Carrying Value 4.875% 2013 Senior Notes, due 2024 $ 500 $ — $ (1) $ (1) $ 498 5.25% 2014 Senior Notes, due 2044 600 (42) 3 (4) 557 1.75% 2015 Senior Notes, due 2027 534 — — (2) 532 3.25% 2017 Senior Notes, due 2028 500 (37) (3) (2) 458 4.25% 2018 Senior Notes, due 2029 400 (42) (2) (2) 354 4.875% 2018 Senior Notes, due 2048 400 (44) (6) (4) 346 0.950% 2019 Senior Notes, due 2030 800 — (2) (4) 794 3.75% 2020 Senior Notes, due 2025 700 (27) (1) (3) 669 3.25% 2020 Senior Notes, due 2050 300 — (4) (3) 293 2.55% 2020 Senior Notes, due 2060 300 — (2) (3) 295 2.00% 2021 Senior Notes, due 2031 600 — (7) (4) 589 2.75% 2021 Senior Notes, due 2041 600 — (13) (5) 582 3.10% 2021 Senior Notes, due 2061 500 — (7) (5) 488 3.75% 2022 Senior Notes, due 2052 500 (35) (8) (5) 452 4.25% 2022 Senior Notes, due 2032 500 (12) (2) (4) 482 Total long-term debt $ 7,734 $ (239) $ (55) $ (51) $ 7,389 (1) The fair value of interest rate swaps in the table above represents the cumulative amount of fair value hedging adjustments included in the carrying amount of the hedged debt. Notes Payable In the second quarter of 2023, the Company repaid $200 million of its $500 million 2013 Senior Notes due 202 4 . At June 30, 2023, the Company was in compliance with all covenants contained within all of the debt agreements. All the debt agreements contain cross default provisions which state that default under one of the aforementioned debt instruments could in turn permit lenders under other debt instruments to declare borrowings outstanding under those instruments to be immediately due and payable. As of June 30, 2023, there were no such cross defaults. The repayment schedule for the Company’s borrowings is as follows: Year Ending December 31, Year Ending Total 2023 (After June 30,) $ — 2024 300 2025 700 2026 — 2027 546 Thereafter 6,018 Total $ 7,564 Interest expense, net The following table summarizes the components of interest as presented in the consolidated statements of operations and the cash paid for interest: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Income $ 15 $ 2 $ 25 $ 4 Expense on borrowings (75) (50) (145) (98) Income (expense) on UTPs and other tax related liabilities (1) (4) (3) 14 (6) Net periodic pension costs - interest component (7) (4) (13) (8) Interest expense, net $ (71) $ (55) $ (119) $ (108) Interest paid (2) $ 47 $ 12 $ 143 $ 90 (1) The amount for the six months ended June 30, 2023 reflects a $22 million reduction of tax-related interest expense primarily related to the resolutions of outstanding tax matters. (2) Interest paid includes net settlements on interest rate swaps more fully discussed in Note 8. The fair value and carrying value of the Company’s debt as of June 30, 2023 and December 31, 2022 are as follows: June 30, 2023 December 31, 2022 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Total debt $ 7,223 $ 6,369 $ 7,389 $ 6,564 The fair value of the Company’s debt is estimated based on quoted prices in active markets as of the reporting date, which are considered Level 1 inputs within the fair value hierarchy.

LEASES

LEASES	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
LEASE COMMITMENTS	LEASESThe Company has operating leases, substantially all of which relate to the lease of office space. The Company’s leases which are classified as finance leases are not material to the consolidated financial statements. Certain of the Company’s leases include options to renew, with renewal terms that can extend the lease term from one year to 20 years at the Company’s discretion. The following table presents the components of the Company’s lease cost: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Operating lease cost $ 23 $ 25 $ 47 $ 52 Sublease income (2) (2) (4) (4) Variable lease cost 5 5 10 10 Total lease cost $ 26 $ 28 $ 53 $ 58 The following tables present other information related to the Company’s operating leases: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Cash paid for amounts included in the measurement of operating lease liabilities $ 30 $ 29 $ 60 $ 60 Right-of-use assets obtained in exchange for new operating lease liabilities $ 19 $ 15 $ 24 $ 30 June 30, 2023 June 30, 2022 Weighted-average remaining lease term 4.8 years 5.3 years Weighted-average discount rate applied to operating leases 3.2 % 3.1 % The following table presents a maturity analysis of the future minimum lease payments included within the Company’s operating lease liabilities at June 30, 2023: Year Ending December 31, Operating Leases 2023 (After June 30,) $ 60 2024 115 2025 103 2026 84 2027 68 After 2027 54 Total lease payments (undiscounted) 484 Less: Interest 35 Present value of lease liabilities: $ 449 Lease liabilities - current $ 105 Lease liabilities - noncurrent $ 344

CONTINGENCIES

CONTINGENCIES	6 Months Ended
	Jun. 30, 2023
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 4 to the condensed 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.

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company is organized into two operating segments: MA and MIS and accordingly, the Company reports in two reportable segments: MA and MIS. 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 three LOBs - Decision Solutions, Research and Insights, and Data and Information. The MIS segment consists of five LOBs. The CFG, FIG, PPIF and SFG 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 professional services. 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. Additionally, 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. 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 2018 actual revenue which comprises a “Baseline Pool” established in 2019, which 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 2 for further details on the components of the Company’s revenue. Three Months Ended June 30, 2023 2022 MA MIS Eliminations Consolidated MA MIS Eliminations Consolidated Total external revenue $ 747 $ 747 $ — $ 1,494 $ 675 $ 706 $ — $ 1,381 Intersegment revenue 4 46 (50) — 1 43 (44) — Revenue 751 793 (50) 1,494 676 749 (44) 1,381 Operating, SG&A 541 350 (50) 841 471 334 (44) 761 Adjusted Operating Income $ 210 $ 443 $ — $ 653 $ 205 $ 415 $ — $ 620 Add: Depreciation and 74 19 — 93 60 21 — 81 Restructuring 8 2 — 10 16 15 — 31 Operating Income $ 550 $ 508 Six Months Ended June 30, 2023 2022 MA MIS Eliminations Consolidated MA MIS Eliminations Consolidated Total external revenue $ 1,484 $ 1,480 $ — $ 2,964 $ 1,370 $ 1,533 $ — $ 2,903 Intersegment revenue 7 91 (98) — 3 86 (89) — Revenue 1,491 1,571 (98) 2,964 1,373 1,619 (89) 2,903 Operating, SG&A 1,067 686 (98) 1,655 944 694 (89) 1,549 Adjusted Operating Income $ 424 $ 885 $ — $ 1,309 $ 429 $ 925 $ — $ 1,354 Add: Depreciation and amortization 144 37 — 181 120 39 — 159 Restructuring 16 8 — 24 16 15 — 31 Operating Income $ 1,104 $ 1,164 The table below shows cumulative restructuring expense incurred through June 30, 2023 by reportable segment. MA MIS Total 2022 - 2023 Geolocation Restructuring Program $ 65 $ 72 $ 137 The costs expected to be incurred related to the 2022 - 2023 Geolocation Restructuring Program are $80 million - $100 million for the MA segment and $80 million - $90 million for the MIS segment. The restructuring program is more fully discussed in Note 10. Consolidated Revenue Information by Geographic Area Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 United States $ 782 $ 723 $ 1,552 $ 1,546 Non-U.S.: EMEA 470 422 921 878 Asia-Pacific 146 151 297 293 Americas 96 85 194 186 Total Non-U.S. 712 658 1,412 1,357 Total $ 1,494 $ 1,381 $ 2,964 $ 2,903

SUBSEQUENT EVENT

SUBSEQUENT EVENT	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENTOn July 24, 2023, the Board approved the declaration of a quarterly dividend of $0.77 per share of Moody’s common stock, payable on September 8, 2023 to shareholders of record at the close of business on August 18, 2023.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 377	$ 327	$ 878	$ 825

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Jun. 30, 2023 shares	Jun. 30, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Robert Fauber [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On May 12, 2023, Robert Fauber, the Company's Chief Executive Officer, adopted a trading plan intended to satisfy Rule 10b5-1(c). The plan relates to the sale of up to 28,010 shares of Moody’s Corporation common stock between August 16, 2023 and February 7, 2024. The shares include: i) shares which will be acquired upon the exercise of employee stock options; and ii) vested restricted stock units.
Name	Robert Fauber
Title	Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	May 12, 2023
Arrangement Duration	175 days
Aggregate Available	28,010	28,010

Description of Business and B_2

Description of Business and Basis of Presentation - (Policies)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Adoption of New Accounting Standards in 2023	Adoption of New Accounting Standards in 2023In 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. In December 2022, the FASB issued ASU 2022-06, "Reference Rate Reform—Deferral of the Sunset Date of Topic 848," which deferred the sunset date of Topic 848 to December 31, 2024. These ASU's were effective upon issuance and the amendments may be applied prospectively through December 31, 2024 as the transition from LIBOR is completed.

REVENUES (Tables)

REVENUES (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents the Company’s revenues disaggregated by LOB: Three Months Ended June 30, Six Months Ended 2023 2022 2023 2022 MA: Decision Solutions (DS) Banking $ 123 $ 110 $ 254 $ 240 Insurance 133 119 266 241 KYC 78 65 148 127 Total DS 334 294 668 608 Research and Insights (R&I) 217 203 432 406 Data and Information (D&I) 196 178 384 356 Total external revenue 747 675 1,484 1,370 Intersegment revenue 4 1 7 3 Total MA 751 676 1,491 1,373 MIS: Corporate Finance (CFG) Investment-grade 94 68 209 182 High-yield 46 31 78 70 Bank loans 68 72 127 185 Other accounts (1) 157 151 307 302 Total CFG 365 322 721 739 Structured Finance (SFG) Asset-backed securities 32 31 59 63 RMBS 25 28 50 63 CMBS 14 27 28 65 Structured credit 31 36 63 75 Other accounts — 1 1 1 Total SFG 102 123 201 267 Financial Institutions (FIG) Banking 97 93 197 182 Insurance 35 24 68 58 Managed investments 10 8 16 13 Other accounts 3 3 6 6 Total FIG 145 128 287 259 Public, Project and Infrastructure Finance (PPIF) Public finance / sovereign 54 55 106 113 Project and infrastructure 73 67 150 132 Total PPIF 127 122 256 245 Total ratings revenue 739 695 1,465 1,510 MIS Other 8 11 15 23 Total external revenue 747 706 1,480 1,533 Intersegment revenue 46 43 91 86 Total MIS 793 749 1,571 1,619 Eliminations (50) (44) (98) (89) Total MCO $ 1,494 $ 1,381 $ 2,964 $ 2,903 (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. The following table presents the Company’s revenues disaggregated by LOB and geographic area: Three Months Ended June 30, 2023 Three Months Ended June 30, 2022 U.S. Non-U.S Total U.S. Non-U.S Total MA: Decision Solutions $ 140 $ 194 $ 334 $ 120 $ 174 $ 294 Research and Insights 119 98 217 115 88 203 Data and Information 68 128 196 62 116 178 Total MA 327 420 747 297 378 675 MIS: Corporate Finance 239 126 365 210 112 322 Structured Finance 60 42 102 83 40 123 Financial Institutions 73 72 145 53 75 128 Public, Project and Infrastructure Finance 83 44 127 78 44 122 Total ratings revenue 455 284 739 424 271 695 MIS Other — 8 8 2 9 11 Total MIS 455 292 747 426 280 706 Total MCO $ 782 $ 712 $ 1,494 $ 723 $ 658 $ 1,381 Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 U.S. Non-U.S Total U.S. Non-U.S Total MA: Decision Solutions $ 279 $ 389 $ 668 $ 253 $ 355 $ 608 Research and Insights 237 195 432 232 174 406 Data and Information 135 249 384 122 234 356 Total MA 651 833 1,484 607 763 1,370 MIS: Corporate Finance 485 236 721 485 254 739 Structured Finance 121 80 201 180 87 267 Financial Institutions 136 151 287 118 141 259 Public, Project and Infrastructure Finance 159 97 256 153 92 245 Total ratings revenue 901 564 1,465 936 574 1,510 MIS Other — 15 15 3 20 23 Total MIS 901 579 1,480 939 594 1,533 Total MCO $ 1,552 $ 1,412 $ 2,964 $ 1,546 $ 1,357 $ 2,903 The following tables summarize the split between Transaction Revenue and Recurring Revenue. Three Months Ended June 30, 2023 2022 Transaction Recurring Total Transaction Recurring Total Decision Solutions $ 43 $ 291 $ 334 $ 38 $ 256 $ 294 13 % 87 % 100 % 13 % 87 % 100 % Research and Insights $ 3 $ 214 $ 217 $ 4 $ 199 $ 203 1 % 99 % 100 % 2 % 98 % 100 % Data and Information $ 1 $ 195 $ 196 $ — $ 178 $ 178 1 % 99 % 100 % — % 100 % 100 % Total MA $ 47 (1) $ 700 $ 747 $ 42 $ 633 $ 675 6 % 94 % 100 % 6 % 94 % 100 % Corporate Finance $ 236 $ 129 $ 365 $ 199 $ 123 $ 322 65 % 35 % 100 % 62 % 38 % 100 % Structured Finance $ 48 $ 54 $ 102 $ 73 $ 50 $ 123 47 % 53 % 100 % 59 % 41 % 100 % Financial Institutions $ 73 $ 72 $ 145 $ 57 $ 71 $ 128 50 % 50 % 100 % 45 % 55 % 100 % Public, Project and Infrastructure Finance $ 84 $ 43 $ 127 $ 82 $ 40 $ 122 66 % 34 % 100 % 67 % 33 % 100 % MIS Other $ 2 $ 6 $ 8 $ 1 $ 10 $ 11 25 % 75 % 100 % 9 % 91 % 100 % Total MIS $ 443 $ 304 $ 747 $ 412 $ 294 $ 706 59 % 41 % 100 % 58 % 42 % 100 % Total Moody's Corporation $ 490 $ 1,004 $ 1,494 $ 454 $ 927 $ 1,381 33 % 67 % 100 % 33 % 67 % 100 % Six Months Ended June 30, 2023 2022 Transaction Recurring Total Transaction Recurring Total Decision Solutions $ 83 $ 585 $ 668 $ 78 $ 530 $ 608 12 % 88 % 100 % 13 % 87 % 100 % Research and Insights $ 8 $ 424 $ 432 $ 8 $ 398 $ 406 2 % 98 % 100 % 2 % 98 % 100 % Data and Information $ 1 $ 383 $ 384 $ — $ 356 $ 356 — % 100 % 100 % — % 100 % 100 % Total MA $ 92 (1) $ 1,392 $ 1,484 $ 86 $ 1,284 $ 1,370 6 % 94 % 100 % 6 % 94 % 100 % Corporate Finance $ 466 $ 255 $ 721 $ 492 $ 247 $ 739 65 % 35 % 100 % 67 % 33 % 100 % Structured Finance $ 94 $ 107 $ 201 $ 166 $ 101 $ 267 47 % 53 % 100 % 62 % 38 % 100 % Financial Institutions $ 143 $ 144 $ 287 $ 118 $ 141 $ 259 50 % 50 % 100 % 46 % 54 % 100 % Public, Project and Infrastructure Finance $ 169 $ 87 $ 256 $ 161 $ 84 $ 245 66 % 34 % 100 % 66 % 34 % 100 % MIS Other $ 3 $ 12 $ 15 $ 2 $ 21 $ 23 20 % 80 % 100 % 9 % 91 % 100 % Total MIS $ 875 $ 605 $ 1,480 $ 939 $ 594 $ 1,533 59 % 41 % 100 % 61 % 39 % 100 % Total Moody's Corporation $ 967 $ 1,997 $ 2,964 $ 1,025 $ 1,878 $ 2,903 33 % 67 % 100 % 35 % 65 % 100 % (1) Revenue from software implementation services and risk management advisory projects, while classified by management as transactional revenue, is recognized over time under U.S. GAAP (please also refer to the following table). The following table presents the timing of revenue recognition: Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 MA MIS Total MA MIS Total Revenue recognized at a point in time $ 22 $ 443 $ 465 $ 49 $ 875 $ 924 Revenue recognized over time 725 304 1,029 1,435 605 2,040 Total $ 747 $ 747 $ 1,494 $ 1,484 $ 1,480 $ 2,964 Three Months Ended June 30, 2022 Six Months Ended June 30, 2022 MA MIS Total MA MIS Total Revenue recognized at a point in time $ 16 $ 412 $ 428 $ 57 $ 939 $ 996 Revenue recognized over time 659 294 953 1,313 594 1,907 Total $ 675 $ 706 $ 1,381 $ 1,370 $ 1,533 $ 2,903
Company's Reportable Segment Revenues Disaggregated by Segment and Geographic Region	The following table presents the Company’s reportable segment revenues disaggregated by segment and geographic region: Three Months Ended June 30, Six Months Ended 2023 2022 2023 2022 MA: U.S. $ 327 $ 297 $ 651 $ 607 Non-U.S.: EMEA 289 257 567 520 Asia-Pacific 71 71 151 139 Americas 60 50 115 104 Total Non-U.S. 420 378 833 763 Total MA 747 675 1,484 1,370 MIS: U.S. 455 426 901 939 Non-U.S.: EMEA 181 165 354 358 Asia-Pacific 75 80 146 154 Americas 36 35 79 82 Total Non-U.S. 292 280 579 594 Total MIS 747 706 1,480 1,533 Total MCO $ 1,494 $ 1,381 $ 2,964 $ 2,903 Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 United States $ 782 $ 723 $ 1,552 $ 1,546 Non-U.S.: EMEA 470 422 921 878 Asia-Pacific 146 151 297 293 Americas 96 85 194 186 Total Non-U.S. 712 658 1,412 1,357 Total $ 1,494 $ 1,381 $ 2,964 $ 2,903
Schedule of Unbilled Receivables	The following table presents the Company's unbilled receivables, which are included within accounts receivable, net, at June 30, 2023 and December 31, 2022: As of June 30, 2023 As of December 31, 2022 MA MIS MA MIS Unbilled Receivables $ 119 $ 428 $ 148 $ 385
Schedule of Changes in the Deferred Revenue Balances	Significant changes in the deferred revenue balances during the three and six months ended June 30, 2023 and 2022 are as follows: Three Months Ended June 30, 2023 Three Months Ended June 30, 2022 MA MIS Total MA MIS Total Balance at March 31, $ 1,288 $ 360 $ 1,648 $ 1,234 $ 377 $ 1,611 Changes in deferred revenue Revenue recognized that was included in the deferred revenue balance at the beginning of the period (592) (116) (708) (391) (117) (508) Increases due to amounts billable excluding amounts recognized as revenue during the period 417 91 508 213 94 307 Effect of exchange rate changes 3 1 4 (37) (7) (44) Total changes in deferred revenue (172) (24) (196) (215) (30) (245) Balance at June 30, $ 1,116 $ 336 $ 1,452 $ 1,019 $ 347 $ 1,366 Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 MA MIS Total MA MIS Total Balance at December 31, $ 1,055 $ 278 $ 1,333 $ 1,039 $ 296 $ 1,335 Changes in deferred revenue Revenue recognized that was included in the deferred revenue balance at the beginning of the period (788) (160) (948) (654) (155) (809) Increases due to amounts billable excluding amounts recognized as revenue during the period 830 216 1,046 680 215 895 Increases due to acquisitions during the period — — — 1 — 1 Effect of exchange rate changes 19 2 21 (47) (9) (56) Total changes in deferred revenue 61 58 119 (20) 51 31 Balance at June 30, $ 1,116 $ 336 $ 1,452 $ 1,019 $ 347 $ 1,366 Deferred revenue - current $ 1,115 $ 270 $ 1,385 $ 1,017 $ 268 $ 1,285 Deferred revenue - non-current $ 1 $ 66 $ 67 $ 2 $ 79 $ 81

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Stock-Based Compensation Cost and Associated Tax Benefit	Presented below is a summary of the stock-based compensation cost and associated tax benefit included in the accompanying consolidated statements of operations: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Stock-based compensation cost $ 50 $ 38 $ 97 $ 84 Tax benefit $ 12 $ 9 $ 22 $ 20
Weighted Average Assumptions used in Determining Fair Value for Options Granted	The following weighted average assumptions were used in determining the fair value using the Black-Scholes option-pricing model for options granted in 2023: Expected dividend yield 1.04 % Expected stock volatility 29 % Risk-free interest rate 4.18 % Expected holding period 5.8 years
Stock Option Exercises and Restricted Stock Vesting	The following table summarizes information relating to stock option exercises and restricted stock vesting: Six Months Ended 2023 2022 Exercise of stock options: Proceeds from stock option exercises $ 21 $ 4 Aggregate intrinsic value $ 44 $ 5 Tax benefit realized upon exercise $ 10 $ 1 Number of shares exercised (1) 0.2 — Vesting of restricted stock: Fair value of shares vested $ 147 $ 170 Tax benefit realized upon vesting $ 34 $ 40 Number of shares vested 0.5 0.5 Vesting of performance-based restricted stock: Fair value of shares vested $ 24 $ 50 Tax benefit realized upon vesting $ 3 $ 7 Number of shares vested 0.1 0.2

INCOME TAXES (Tables)

INCOME TAXES (Tables)	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes Paid	The following table shows the amount the Company paid for income taxes: Six Months Ended June 30, 2023 2022 Income taxes paid $ 122 $ 326

RECONCILIATION OF WEIGHTED AV_2

RECONCILIATION OF WEIGHTED AVERAGE SHARES OUTSTANDING (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Reconciliation of Basic to Diluted Shares Outstanding	Below is a reconciliation of basic to diluted shares outstanding: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Basic 183.5 184.1 183.4 184.6 Dilutive effect of shares issuable under stock-based compensation plans 0.6 0.8 0.7 0.8 Diluted 184.1 184.9 184.1 185.4 Anti-dilutive options to purchase common shares and restricted stock as well as contingently issuable restricted stock which are excluded from the table above 0.4 0.8 0.5 0.4

CASH EQUIVALENTS AND INVESTME_2

CASH EQUIVALENTS AND INVESTMENTS (Tables)	6 Months Ended
	Jun. 30, 2023
Cash and Cash Equivalents [Abstract]
Schedule of Cash and Cash Equivalents and Investments	The table below provides additional information on the Company’s cash equivalents and investments: As of June 30, 2023 Balance sheet location Cost Gains/(Losses) Fair Value Cash and cash equivalents Short-term Other Certificates of deposit and money market deposit accounts/funds (1) $ 1,221 $ — $ 1,221 $ 1,159 $ 57 $ 5 Mutual funds $ 87 $ 4 $ 91 $ — $ — $ 91 As of December 31, 2022 Balance sheet location Cost Gains/(Losses) Fair Value Cash and cash Short-term Other Certificates of deposit and money market deposit accounts (1) $ 914 $ — $ 914 $ 808 $ 90 $ 16 Mutual funds $ 71 $ — $ 71 $ — $ — $ 71 (1) Consists of time deposits, money market deposit accounts and money market funds. The remaining contractual maturities for the certificates of deposits classified as short-term investments are one month to 12 months at both June 30, 2023 and December 31, 2022. The remaining contractual maturities for the certificates of deposits classified in other assets are 13 months to 18 months at June 30, 2023 and 13 months to 24 months at December 31, 2022. Time deposits with a maturity of less than 90 days at time of purchase are classified as cash and cash equivalents.

DERIVATIVE INSTRUMENTS AND HE_2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	6 Months Ended
	Jun. 30, 2023
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: As of June 30, 2023 As of December 31, 2022 Hedged Item Nature of Swap Notional Amount Floating Interest Rate (1) Notional Amount Floating Interest Rate 2017 Senior Notes due 2028 Pay Floating/Receive Fixed $ 500 SOFR $ 500 3-month LIBOR 2020 Senior Notes due 2025 Pay Floating/Receive Fixed 300 SOFR 300 6-month LIBOR 2014 Senior Notes due 2044 Pay Floating/Receive Fixed 300 SOFR 300 3-month LIBOR 2018 Senior Notes due 2048 Pay Floating/Receive Fixed 300 SOFR 300 3-month LIBOR 2018 Senior Notes due 2029 Pay Floating/Receive Fixed 400 SOFR 400 SOFR 2022 Senior Notes due 2052 Pay Floating/Receive Fixed 500 SOFR 500 SOFR 2022 Senior Notes due 2032 Pay Floating/Receive Fixed 250 SOFR 250 SOFR Total $ 2,550 $ 2,550 (1) Contractual terms of instruments using the 3-month or 6-month LIBOR at December 31, 2022 were modified to the SOFR reference rate in the first quarter of 2023. June 30, 2023 Pay Receive Nature of Swap Notional Amount Weighted Average Interest Rate Notional Amount Weighted Average Interest Rate Pay Fixed/Receive Fixed € 765 3.67% $ 800 5.25% Pay Floating/Receive Floating 2,138 Based on ESTR 2,250 Based on SOFR Total € 2,903 $ 3,050 December 31, 2022 Pay Receive Nature of Swap Notional Amount Weighted Average Interest Rate Notional Amount Weighted Average Interest Rate Pay Fixed/Receive Fixed € 765 3.67% $ 800 5.25% Pay Floating/Receive Floating 450 Based on 3-month EURIBOR 500 Based on 3-month USD LIBOR Pay Floating/Receive Floating 1,688 Based on ESTR 1,750 Based on SOFR Total € 2,903 $ 3,050
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/(loss) recognized in the consolidated statements of operations Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Interest expense, net $ (71) $ (55) $ (119) $ (108) Descriptions Location on Consolidated Statements of Operations Net interest settlements and accruals on interest rate swaps Interest expense, net $ (21) $ 3 $ (39) $ 9 Fair value changes on interest rate swaps Interest expense, net $ (46) $ (47) $ — $ (132) Fair value changes on hedged debt Interest expense, net $ 46 $ 47 $ — $ 132
Schedule of Net Investment Hedges, Notional Amount That Will Be Settled At Expiry	As of June 30, 2023 these hedges will expire and the notional amounts will be settled as follows unless terminated early at the discretion of the Company: Years Ending December 31, 2026 € 450 2027 € 531 2028 € 588 2029 € 373 2031 € 481 2032 € 480 Total € 2,903
Amount of Gain/(Loss) Recognized in AOCI on Derivative Net Investment Hedging Relationships (Effectiveness Portion)	The following tables provide information on the gains/(losses) on the Company’s net investment and cash flow hedges: Derivative and Non-Derivative Instruments in Net Investment Hedging Relationships Amount of Gain/(Loss) Recognized in AOCL on Derivative, net of Tax Amount of Loss Reclassified from AOCL into Income, net of Tax Gain Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) Three Months Ended June 30, Three Months Ended June 30, Three Months Ended June 30, 2023 2022 2023 2022 2023 2022 Cross currency swaps $ (24) $ 118 $ — $ — $ 14 $ 11 Long-term debt (4) 63 — — — — Total net investment hedges $ (28) $ 181 $ — $ — $ 14 $ 11 Derivatives in Cash Flow Hedging Relationships Cross currency swap $ — $ — $ 1 $ — $ — $ — Interest rate contracts — — — (1) — — Total cash flow hedges $ — $ — $ 1 $ (1) $ — $ — Total $ (28) $ 181 $ 1 $ (1) $ 14 $ 11 Derivative and Non-Derivative Instruments in Net Investment Hedging Relationships Amount of Gain/(Loss) Recognized in AOCL on Derivative, net of Tax Amount of Loss Reclassified from AOCL into Income, net of Tax Gain Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) Six Months Ended June 30, Six Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 2023 2022 Cross currency swaps $ (63) $ 142 $ — $ — $ 30 $ 21 Long-term debt (22) 86 — — — — Total net investment hedges $ (85) $ 228 $ — $ — $ 30 $ 21 Derivatives in Cash Flow Hedging Relationships Cross currency swap $ — $ — $ 1 $ — $ — $ — Interest rate contracts — — (1) (1) — — Total cash flow hedges $ — $ — $ — $ (1) $ — $ — Total $ (85) $ 228 $ — $ (1) $ 30 $ 21
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 June 30, 2023 December 31, 2022 Net investment hedges Cross currency swaps $ 55 $ 118 FX forwards 29 29 Long-term debt 16 38 Total net investment hedges $ 100 $ 185 Cash flow hedges Interest rate contracts $ (46) $ (47) Cross currency swaps 1 2 Total cash flow hedges (45) (45) Total net gain in AOCL $ 55 $ 140 The following tables show changes in AOCL by component (net of tax): Three Months Ended June 30, 2023 2022 Gains/(Losses) Pension and Other Retirement Benefits Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Pension and Other Retirement Benefits Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Balance at March 31, $ (47) $ (44) $ (626) $ 128 $ (589) $ (51) $ (46) $ (442) $ 68 $ (471) Other comprehensive income/(loss) before reclassifications — — 49 (28) 21 4 — (334) 181 (149) Amounts reclassified from AOCL (1) (1) — — (2) 1 — 20 — 21 Other comprehensive income/(loss) (1) (1) 49 (28) 19 5 — (314) 181 (128) Balance at June 30, $ (48) $ (45) $ (577) $ 100 $ (570) $ (46) $ (46) $ (756) $ 249 $ (599) Six Months Ended June 30, 2023 2022 Gains/(Losses) Pension and Other Retirement Benefits Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Pension and Other Retirement Benefits Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Balance at December 31, $ (47) $ (45) $ (736) $ 185 $ (643) $ (49) $ (47) $ (335) $ 21 $ (410) Other comprehensive income/(loss) before reclassifications — — 159 (85) 74 2 — (441) 228 (211) Amounts reclassified from AOCL (1) — — — (1) 1 1 20 — 22 Other comprehensive income/(loss) (1) — 159 (85) 73 3 1 (421) 228 (189) Balance at June 30, $ (48) $ (45) $ (577) $ 100 $ (570) $ (46) $ (46) $ (756) $ 249 $ (599)
Summary of Notional Amounts of Outstanding Foreign Exchange Forwards	The following table summarizes the notional amounts of the Company’s outstanding foreign exchange forwards: June 30, 2023 December 31, 2022 Notional amount of currency pair: Sell Buy Sell Buy Contracts to sell USD for GBP $ 683 £ 548 $ 170 £ 146 Contracts to sell USD for Japanese yen $ 15 ¥ 2,000 $ 24 ¥ 3,500 Contracts to sell USD for Canadian dollars $ 116 C$ 155 $ 87 C$ 120 Contracts to sell USD for Singapore dollars $ 81 S$ 109 $ 50 S$ 70 Contracts to sell USD for euros $ 272 € 250 $ 116 € 115 Contracts to sell USD for Indian rupee $ 23 ₹ 1,900 $ 19 ₹ 1,600 Contracts to sell GBP for USD £ 90 $ 115 £ — $ — Contracts to sell euros for USD € 125 $ 135 € 85 $ 89 NOTE: € = euro, £ = British pound, $ = U.S. dollar, ¥ = Japanese yen, C$ = Canadian dollar, S$= Singapore dollars, ₹= Indian rupee
Gains and Losses Recognized in Consolidated Statement of Operations on Derivatives Not Designated as Hedging instruments	The following table summarizes the impact to the consolidated statements of operations relating to the net losses on the Company’s derivatives which are not designated as hedging instruments: Derivatives not designated as accounting hedges Location on Consolidated Statements of Operations Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 FX forwards Other non-operating income, net $ 10 $ (38) $ 15 $ (57)
Fair Value of Derivative Instruments	The table below shows the classification between assets and liabilities on the Company’s consolidated balance sheets for the fair value of the derivative instrument as well as the carrying value of its non-derivative debt instruments designated and qualifying as net investment hedges: Derivative and Non-Derivative Instruments Balance Sheet Location June 30, 2023 December 31, 2022 Assets: Derivatives designated as accounting hedges: Cross-currency swaps designated as net investment hedges Other assets $ 7 $ 27 Derivatives not designated as accounting hedges: FX forwards on certain assets and liabilities Other current assets 10 19 Total assets $ 17 $ 46 Liabilities: Derivatives designated as accounting hedges: Cross-currency swaps designated as net investment hedges Other liabilities $ 142 $ 78 Interest rate swaps designated as fair value hedges Other liabilities 239 239 Total derivatives designated as accounting hedges 381 317 Non-derivatives designated as accounting hedges: Long-term debt designated as net investment hedge Long-term debt 1,364 1,334 Derivatives not designated as accounting hedges: FX forwards on certain assets and liabilities Accounts payable and accrued liabilities 3 2 Total liabilities $ 1,748 $ 1,653

GOODWILL AND OTHER ACQUIRED I_2

GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Activity in Goodwill	The following table summarizes the activity in goodwill for the periods indicated: Six Months Ended June 30, 2023 MA MIS Consolidated Gross goodwill Accumulated Net Gross goodwill Accumulated impairment Net Gross goodwill Accumulated Net Balance at beginning $ 5,474 $ (12) $ 5,462 $ 377 $ — $ 377 $ 5,851 $ (12) $ 5,839 Additions/ adjustments (1) 90 — 90 (87) — (87) 3 — 3 Foreign currency translation adjustments 85 — 85 (1) — (1) 84 — 84 Ending balance $ 5,649 $ (12) $ 5,637 $ 289 $ — $ 289 $ 5,938 $ (12) $ 5,926 Year Ended December 31, 2022 MA MIS Consolidated Gross goodwill Accumulated impairment charge Net goodwill Gross goodwill Accumulated impairment charge Net goodwill Gross goodwill Accumulated impairment charge Net goodwill Balance at beginning $ 5,615 $ (12) $ 5,603 $ 396 $ — $ 396 $ 6,011 $ (12) $ 5,999 Additions/ adjustments (2) 88 — 88 4 — 4 92 — 92 Foreign currency translation (229) — (229) (23) — (23) (252) — (252) Ending balance $ 5,474 $ (12) $ 5,462 $ 377 $ — $ 377 $ 5,851 $ (12) $ 5,839 (1) The 2023 additions/adjustments primarily relate to a reallocation of goodwill pursuant to a realignment of certain components of the Company's ESG business in the first quarter of 2023. (2) The 2022 additions/adjustments for the MA segment in the table above primarily relate to the acquisition of kompany in the first quarter of 2022.
Acquired Intangible Assets and Related Amortization	Acquired intangible assets and related amortization consisted of: June 30, December 31, Customer relationships $ 2,055 $ 2,024 Accumulated amortization (507) (453) Net customer relationships 1,548 1,571 Software/product technology 670 661 Accumulated amortization (326) (283) Net software/product technology 344 378 Database 178 178 Accumulated amortization (73) (64) Net database 105 114 Trade names 199 197 Accumulated amortization (65) (58) Net trade names 134 139 Other (1) 52 52 Accumulated amortization (45) (44) Net other 7 8 Total acquired intangible assets, net $ 2,138 $ 2,210 (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: Three Months Ended June 30, Six Months Ended 2023 2022 2023 2022 Amortization expense $ 50 $ 51 $ 101 $ 102

RESTRUCTURING (Tables)

RESTRUCTURING (Tables)	6 Months Ended
	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring Expenses Included in Consolidated Statements of Operations	Total expense included in the accompanying consolidated statements of operations relating to the aforementioned restructuring program is below: Substantially all of the restructuring charges recognized during the three and six months ended June 30, 2023 and June 30, 2022 relate to employee termination costs. Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 2020 MA Strategic Reorganization Restructuring Program $ — $ (1) $ — $ (1) 2022 - 2023 Geolocation Restructuring Program 10 32 24 32 Total Restructuring $ 10 $ 31 $ 24 $ 31 The table below shows cumulative restructuring expense incurred through June 30, 2023 by reportable segment. MA MIS Total 2022 - 2023 Geolocation Restructuring Program $ 65 $ 72 $ 137
Changes to the Restructuring Liability	Changes to the restructuring liability for the aforementioned restructuring programs during the first half of 2023 were as follows: Balance as of December 31, 2022 $ 65 2022 - 2023 Geolocation Restructuring Program: Cost incurred and adjustments 22 Cash payments and adjustments (57) Balance as of June 30, 2023 $ 30 Cumulative expense incurred through June 30, 2023 Employee Real Estate Related Other Costs Total 2022 - 2023 Geolocation Restructuring Program $ 107 $ 29 $ 1 $ 137

FAIR VALUE (Tables)

FAIR VALUE (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Financial Instruments Carried at Fair Value on Recurring Basis	The table below presents information about items that are carried at fair value at June 30, 2023 and December 31, 2022: Fair Value Measurement as of June 30, 2023 Description Balance Level 1 Level 2 Assets: Derivatives (1) $ 17 $ — $ 17 Money market funds/mutual funds 231 231 — Total $ 248 $ 231 $ 17 Liabilities: Derivatives (1) $ 384 $ — $ 384 Total $ 384 $ — $ 384 Fair Value Measurement as of December 31, 2022 Description Balance Level 1 Level 2 Assets: Derivatives (1) $ 46 $ — $ 46 Mutual funds 71 71 — Total $ 117 $ 71 $ 46 Liabilities: Derivatives (1) $ 319 $ — $ 319 Total $ 319 $ — $ 319 (1) Represents fair value of certain derivative contracts as more fully described in Note 8 to the condensed consolidated financial statements.

OTHER BALANCE SHEET AND STATE_2

OTHER BALANCE SHEET AND STATEMENTS OF OPERATIONS INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2023
Other Balance Sheet And Statement Of Operations Information [Abstract]
Additional Details Related to Certain Balance Sheet Captions	The following tables contain additional detail related to certain balance sheet captions: June 30, 2023 December 31, 2022 Other current assets: Prepaid taxes $ 169 $ 235 Prepaid expenses 112 119 Capitalized costs to obtain and fulfill sales contracts 112 106 Foreign exchange forwards on certain assets and liabilities 10 19 Interest receivable on interest rate and cross currency swaps 78 74 Other 32 30 Total other current assets $ 513 $ 583 Other assets: Investments in non-consolidated affiliates $ 526 $ 517 Deposits for real-estate leases 15 15 Indemnification assets related to acquisitions 107 110 Mutual funds and fixed deposits 96 87 Company owned life insurance (at contract value) 47 40 Costs to obtain sales contracts 176 171 Derivative instruments designated as accounting hedges 7 27 Pension and other retirement employee benefits 39 40 Other 88 85 Total other assets $ 1,101 $ 1,092 Accounts payable and accrued liabilities: Salaries and benefits $ 113 $ 104 Incentive compensation 166 276 Customer credits, advanced payments and advanced billings 99 102 Dividends 5 6 Professional service fees 47 49 Accrued interest 79 93 Accounts payable 37 52 Income taxes 112 86 Pension and other retirement employee benefits 7 7 Accrued royalties 26 23 Foreign exchange forwards on certain assets and liabilities 3 2 Restructuring liability 28 65 Interest payable on interest rate and cross currency swaps 62 51 Other 93 95 Total accounts payable and accrued liabilities $ 877 $ 1,011 June 30, 2023 December 31, 2022 Other liabilities: Pension and other retirement employee benefits $ 195 $ 189 Interest accrued on UTPs 30 47 MAKS indemnification provisions 19 23 Income tax liability - non-current portion 15 48 Derivative instruments designated as accounting hedges 381 317 Restructuring liability - non-current portion 2 — Other 47 50 Total other liabilities $ 689 $ 674
Investments in and Advances to Affiliates	The following table provides additional detail regarding Moody's investments in non-consolidated affiliates, as included in other assets in the consolidated balance sheets: June 30, 2023 December 31, 2022 Equity method investments (1) $ 194 $ 187 Investments measured using the measurement alternative (2) 325 325 Other 7 5 Total investments in non-consolidated affiliates $ 526 $ 517 (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.
Other Non-Operating	The following table summarizes the components of other non-operating income (expense), net: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 FX loss (1) $ (5) $ (22) $ (31) $ (22) Net periodic pension costs - other components 9 6 18 12 Income from investments in non-consolidated affiliates 1 2 3 4 Gains / losses on investments 5 (9) 11 (14) Other (2) 3 13 12 16 Total $ 13 $ (10) $ 13 $ (4) (1) The amount for the six months ended June 30, 2023 includes a $23 million loss recorded pursuant to an immaterial out-of-period adjustment relating to the 2022 fiscal year. The amounts for the three and six months ended June 30, 2022 include FX translation losses of $20 million reclassified to earnings resulting from the Company no longer conducting commercial operations in Russia. (2) The amount for the six months ended June 30, 2023 reflects a benefit of $9 million related to the favorable resolutions of various tax matters. The amounts for the three and six months ended June 30, 2022 reflect an $11 million benefit from a statute of limitations lapse relating to reserves established pursuant to the divestiture of MAKS.

COMPREHENSIVE INCOME AND ACCU_2

COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Reclassifications out of AOCI	The following table provides details about the reclassifications out of AOCL: Three Months Ended June 30, Location in the consolidated statements of operations Losses on currency translation adjustments 2023 2022 Foreign currency translation adjustments - reclassification of losses included in net income $ — $ (20) Other non-operating income, net Total losses on currency translation adjustments — (20) Gains (losses) on cash flow hedges Interest rate contract — — Other non-operating income, net Income tax effect of item above 1 — Provision for income taxes Total net gains (losses) on cash flow hedges 1 — Pension and other retirement benefits Amortization of actuarial losses and prior service costs included in net income 2 (1) Other non-operating income, net Income tax effect of item above (1) — Provision for income taxes Total pension and other retirement benefits 1 (1) Total net gains (losses) included in Net Income attributable to reclassifications out of AOCL $ 2 $ (21) Six Months Ended June 30, Location in the consolidated statements of operations Losses on currency translation adjustments 2023 2022 Foreign currency translation adjustments - reclassification of losses included in net income $ — $ (20) Other non-operating income, net Total losses on currency translation adjustments — (20) Losses on cash flow hedges Interest rate contract (1) (1) Other non-operating income, net Income tax effect of item above 1 — Provision for income taxes Total net losses on cash flow hedges — (1) Pension and other retirement benefits Amortization of actuarial losses and prior service costs included in net income 2 (1) Other non-operating income, net Income tax effect of item above (1) — Provision for income taxes Total pension and other retirement benefits 1 (1) Total net gains (losses) included in Net Income attributable to reclassifications out of AOCL $ 1 $ (22)
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 June 30, 2023 December 31, 2022 Net investment hedges Cross currency swaps $ 55 $ 118 FX forwards 29 29 Long-term debt 16 38 Total net investment hedges $ 100 $ 185 Cash flow hedges Interest rate contracts $ (46) $ (47) Cross currency swaps 1 2 Total cash flow hedges (45) (45) Total net gain in AOCL $ 55 $ 140 The following tables show changes in AOCL by component (net of tax): Three Months Ended June 30, 2023 2022 Gains/(Losses) Pension and Other Retirement Benefits Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Pension and Other Retirement Benefits Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Balance at March 31, $ (47) $ (44) $ (626) $ 128 $ (589) $ (51) $ (46) $ (442) $ 68 $ (471) Other comprehensive income/(loss) before reclassifications — — 49 (28) 21 4 — (334) 181 (149) Amounts reclassified from AOCL (1) (1) — — (2) 1 — 20 — 21 Other comprehensive income/(loss) (1) (1) 49 (28) 19 5 — (314) 181 (128) Balance at June 30, $ (48) $ (45) $ (577) $ 100 $ (570) $ (46) $ (46) $ (756) $ 249 $ (599) Six Months Ended June 30, 2023 2022 Gains/(Losses) Pension and Other Retirement Benefits Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Pension and Other Retirement Benefits Cash Flow Hedges Foreign Currency Translation Adjustments Net Investment Hedges Total Balance at December 31, $ (47) $ (45) $ (736) $ 185 $ (643) $ (49) $ (47) $ (335) $ 21 $ (410) Other comprehensive income/(loss) before reclassifications — — 159 (85) 74 2 — (441) 228 (211) Amounts reclassified from AOCL (1) — — — (1) 1 1 20 — 22 Other comprehensive income/(loss) (1) — 159 (85) 73 3 1 (421) 228 (189) Balance at June 30, $ (48) $ (45) $ (577) $ 100 $ (570) $ (46) $ (46) $ (756) $ 249 $ (599)

INDEBTEDNESS (Tables)

INDEBTEDNESS (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Summary of Total Indebtedness	The following table summarizes total indebtedness: June 30, 2023 Notes Payable: Principal Amount Fair Value of Interest Rate Swaps (1) Unamortized (Discount) Premium Unamortized Debt Issuance Costs Carrying Value 4.875% 2013 Senior Notes, due 2024 $ 300 $ — $ — $ — $ 300 5.25% 2014 Senior Notes, due 2044 600 (42) 3 (4) 557 1.75% 2015 Senior Notes, due 2027 546 — — (2) 544 3.25% 2017 Senior Notes, due 2028 500 (37) (3) (2) 458 4.25% 2018 Senior Notes, due 2029 400 (42) (2) (2) 354 4.875% 2018 Senior Notes, due 2048 400 (44) (6) (4) 346 0.950% 2019 Senior Notes, due 2030 818 — (2) (4) 812 3.75% 2020 Senior Notes, due 2025 700 (24) — (2) 674 3.25% 2020 Senior Notes, due 2050 300 — (4) (3) 293 2.55% 2020 Senior Notes, due 2060 300 — (2) (3) 295 2.00% 2021 Senior Notes, due 2031 600 — (7) (4) 589 2.75% 2021 Senior Notes, due 2041 600 — (13) (5) 582 3.10% 2021 Senior Notes, due 2061 500 — (7) (5) 488 3.75% 2022 Senior Notes, due 2052 500 (36) (8) (5) 451 4.25% 2022 Senior Notes, due 2032 500 (14) (2) (4) 480 Total debt $ 7,564 $ (239) $ (53) $ (49) $ 7,223 Current portion (300) Total long-term debt $ 6,923 December 31, 2022 Notes Payable: Principal Amount Fair Value of Interest Rate Swaps (1) Unamortized (Discount) Premium Unamortized Debt Issuance Costs Carrying Value 4.875% 2013 Senior Notes, due 2024 $ 500 $ — $ (1) $ (1) $ 498 5.25% 2014 Senior Notes, due 2044 600 (42) 3 (4) 557 1.75% 2015 Senior Notes, due 2027 534 — — (2) 532 3.25% 2017 Senior Notes, due 2028 500 (37) (3) (2) 458 4.25% 2018 Senior Notes, due 2029 400 (42) (2) (2) 354 4.875% 2018 Senior Notes, due 2048 400 (44) (6) (4) 346 0.950% 2019 Senior Notes, due 2030 800 — (2) (4) 794 3.75% 2020 Senior Notes, due 2025 700 (27) (1) (3) 669 3.25% 2020 Senior Notes, due 2050 300 — (4) (3) 293 2.55% 2020 Senior Notes, due 2060 300 — (2) (3) 295 2.00% 2021 Senior Notes, due 2031 600 — (7) (4) 589 2.75% 2021 Senior Notes, due 2041 600 — (13) (5) 582 3.10% 2021 Senior Notes, due 2061 500 — (7) (5) 488 3.75% 2022 Senior Notes, due 2052 500 (35) (8) (5) 452 4.25% 2022 Senior Notes, due 2032 500 (12) (2) (4) 482 Total long-term debt $ 7,734 $ (239) $ (55) $ (51) $ 7,389 (1) The fair value of interest rate swaps in the table above represents the cumulative amount of fair value hedging adjustments included in the carrying amount of the hedged debt.
Principal Payments Due on Long-Term Borrowings	The repayment schedule for the Company’s borrowings is as follows: Year Ending December 31, Year Ending Total 2023 (After June 30,) $ — 2024 300 2025 700 2026 — 2027 546 Thereafter 6,018 Total $ 7,564
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 and the cash paid for interest: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Income $ 15 $ 2 $ 25 $ 4 Expense on borrowings (75) (50) (145) (98) Income (expense) on UTPs and other tax related liabilities (1) (4) (3) 14 (6) Net periodic pension costs - interest component (7) (4) (13) (8) Interest expense, net $ (71) $ (55) $ (119) $ (108) Interest paid (2) $ 47 $ 12 $ 143 $ 90 (1) The amount for the six months ended June 30, 2023 reflects a $22 million reduction of tax-related interest expense primarily related to the resolutions of outstanding tax matters. (2) Interest paid includes net settlements on interest rate swaps more fully discussed in Note 8.
Fair Value and Carrying Value of Long-Term Debt	The fair value and carrying value of the Company’s debt as of June 30, 2023 and December 31, 2022 are as follows: June 30, 2023 December 31, 2022 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Total debt $ 7,223 $ 6,369 $ 7,389 $ 6,564

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Components of Lease Cost	The following table presents the components of the Company’s lease cost: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Operating lease cost $ 23 $ 25 $ 47 $ 52 Sublease income (2) (2) (4) (4) Variable lease cost 5 5 10 10 Total lease cost $ 26 $ 28 $ 53 $ 58
Schedule of Operating Leases Information	The following tables present other information related to the Company’s operating leases: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Cash paid for amounts included in the measurement of operating lease liabilities $ 30 $ 29 $ 60 $ 60 Right-of-use assets obtained in exchange for new operating lease liabilities $ 19 $ 15 $ 24 $ 30 June 30, 2023 June 30, 2022 Weighted-average remaining lease term 4.8 years 5.3 years Weighted-average discount rate applied to operating leases 3.2 % 3.1 %
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 June 30, 2023: Year Ending December 31, Operating Leases 2023 (After June 30,) $ 60 2024 115 2025 103 2026 84 2027 68 After 2027 54 Total lease payments (undiscounted) 484 Less: Interest 35 Present value of lease liabilities: $ 449 Lease liabilities - current $ 105 Lease liabilities - noncurrent $ 344

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2023
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 2 for further details on the components of the Company’s revenue. Three Months Ended June 30, 2023 2022 MA MIS Eliminations Consolidated MA MIS Eliminations Consolidated Total external revenue $ 747 $ 747 $ — $ 1,494 $ 675 $ 706 $ — $ 1,381 Intersegment revenue 4 46 (50) — 1 43 (44) — Revenue 751 793 (50) 1,494 676 749 (44) 1,381 Operating, SG&A 541 350 (50) 841 471 334 (44) 761 Adjusted Operating Income $ 210 $ 443 $ — $ 653 $ 205 $ 415 $ — $ 620 Add: Depreciation and 74 19 — 93 60 21 — 81 Restructuring 8 2 — 10 16 15 — 31 Operating Income $ 550 $ 508 Six Months Ended June 30, 2023 2022 MA MIS Eliminations Consolidated MA MIS Eliminations Consolidated Total external revenue $ 1,484 $ 1,480 $ — $ 2,964 $ 1,370 $ 1,533 $ — $ 2,903 Intersegment revenue 7 91 (98) — 3 86 (89) — Revenue 1,491 1,571 (98) 2,964 1,373 1,619 (89) 2,903 Operating, SG&A 1,067 686 (98) 1,655 944 694 (89) 1,549 Adjusted Operating Income $ 424 $ 885 $ — $ 1,309 $ 429 $ 925 $ — $ 1,354 Add: Depreciation and amortization 144 37 — 181 120 39 — 159 Restructuring 16 8 — 24 16 15 — 31 Operating Income $ 1,104 $ 1,164
Restructuring Expenses Included in Consolidated Statements of Operations	Total expense included in the accompanying consolidated statements of operations relating to the aforementioned restructuring program is below: Substantially all of the restructuring charges recognized during the three and six months ended June 30, 2023 and June 30, 2022 relate to employee termination costs. Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 2020 MA Strategic Reorganization Restructuring Program $ — $ (1) $ — $ (1) 2022 - 2023 Geolocation Restructuring Program 10 32 24 32 Total Restructuring $ 10 $ 31 $ 24 $ 31 The table below shows cumulative restructuring expense incurred through June 30, 2023 by reportable segment. MA MIS Total 2022 - 2023 Geolocation Restructuring Program $ 65 $ 72 $ 137
Company's Reportable Segment Revenues Disaggregated by Segment and Geographic Region	The following table presents the Company’s reportable segment revenues disaggregated by segment and geographic region: Three Months Ended June 30, Six Months Ended 2023 2022 2023 2022 MA: U.S. $ 327 $ 297 $ 651 $ 607 Non-U.S.: EMEA 289 257 567 520 Asia-Pacific 71 71 151 139 Americas 60 50 115 104 Total Non-U.S. 420 378 833 763 Total MA 747 675 1,484 1,370 MIS: U.S. 455 426 901 939 Non-U.S.: EMEA 181 165 354 358 Asia-Pacific 75 80 146 154 Americas 36 35 79 82 Total Non-U.S. 292 280 579 594 Total MIS 747 706 1,480 1,533 Total MCO $ 1,494 $ 1,381 $ 2,964 $ 2,903 Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 United States $ 782 $ 723 $ 1,552 $ 1,546 Non-U.S.: EMEA 470 422 921 878 Asia-Pacific 146 151 297 293 Americas 96 85 194 186 Total Non-U.S. 712 658 1,412 1,357 Total $ 1,494 $ 1,381 $ 2,964 $ 2,903

Description of Business and B_3

Description of Business and Basis of Presentation - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2023 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	2

Revenues - Revenue by Category

Revenues - Revenue by Category (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 1,494	$ 1,381	$ 2,964	$ 2,903
Eliminations
Disaggregation of Revenue [Line Items]
Revenue	(50)	(44)	(98)	(89)
MA
Disaggregation of Revenue [Line Items]
Revenue	747	675	1,484	1,370
MA | Decision Solutions (DS)
Disaggregation of Revenue [Line Items]
Revenue	334	294	668	608
MA | Decision Solutions (DS) | DS Banking Product and Service
Disaggregation of Revenue [Line Items]
Revenue	123	110	254	240
MA | Decision Solutions (DS) | Insurance
Disaggregation of Revenue [Line Items]
Revenue	133	119	266	241
MA | Decision Solutions (DS) | KYC
Disaggregation of Revenue [Line Items]
Revenue	78	65	148	127
MA | Research and Insights (R&I)
Disaggregation of Revenue [Line Items]
Revenue	217	203	432	406
MA | Data and Information (D&I)
Disaggregation of Revenue [Line Items]
Revenue	196	178	384	356
MA | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	751	676	1,491	1,373
MIS
Disaggregation of Revenue [Line Items]
Revenue	747	706	1,480	1,533
MIS | Corporate Finance (CFG)
Disaggregation of Revenue [Line Items]
Revenue	365	322	721	739
MIS | Corporate Finance (CFG) | Investment-grade
Disaggregation of Revenue [Line Items]
Revenue	94	68	209	182
MIS | Corporate Finance (CFG) | High-yield
Disaggregation of Revenue [Line Items]
Revenue	46	31	78	70
MIS | Corporate Finance (CFG) | Bank loans
Disaggregation of Revenue [Line Items]
Revenue	68	72	127	185
MIS | Corporate Finance (CFG) | Other accounts
Disaggregation of Revenue [Line Items]
Revenue	157	151	307	302
MIS | Structured Finance (SFG)
Disaggregation of Revenue [Line Items]
Revenue	102	123	201	267
MIS | Structured Finance (SFG) | Other accounts
Disaggregation of Revenue [Line Items]
Revenue	0	1	1	1
MIS | Structured Finance (SFG) | Asset-backed securities
Disaggregation of Revenue [Line Items]
Revenue	32	31	59	63
MIS | Structured Finance (SFG) | RMBS
Disaggregation of Revenue [Line Items]
Revenue	25	28	50	63
MIS | Structured Finance (SFG) | CMBS
Disaggregation of Revenue [Line Items]
Revenue	14	27	28	65
MIS | Structured Finance (SFG) | Structured credit
Disaggregation of Revenue [Line Items]
Revenue	31	36	63	75
MIS | Financial Institutions (FIG)
Disaggregation of Revenue [Line Items]
Revenue	145	128	287	259
MIS | Financial Institutions (FIG) | Banking
Disaggregation of Revenue [Line Items]
Revenue	97	93	197	182
MIS | Financial Institutions (FIG) | Insurance
Disaggregation of Revenue [Line Items]
Revenue	35	24	68	58
MIS | Financial Institutions (FIG) | Other accounts
Disaggregation of Revenue [Line Items]
Revenue	3	3	6	6
MIS | Financial Institutions (FIG) | Managed investments
Disaggregation of Revenue [Line Items]
Revenue	10	8	16	13
MIS | Public, Project and Infrastructure Finance (PPIF)
Disaggregation of Revenue [Line Items]
Revenue	127	122	256	245
MIS | Public, Project and Infrastructure Finance (PPIF) | Public finance / sovereign
Disaggregation of Revenue [Line Items]
Revenue	54	55	106	113
MIS | Public, Project and Infrastructure Finance (PPIF) | Project and infrastructure
Disaggregation of Revenue [Line Items]
Revenue	73	67	150	132
MIS | Total ratings revenue
Disaggregation of Revenue [Line Items]
Revenue	739	695	1,465	1,510
MIS | MIS Other
Disaggregation of Revenue [Line Items]
Revenue	8	11	15	23
MIS | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	$ 793	$ 749	$ 1,571	$ 1,619

Revenues - Revenues Disaggregat

Revenues - Revenues Disaggregated by Line of Business and Geographical Area (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 1,494	$ 1,381	$ 2,964	$ 2,903
United States
Disaggregation of Revenue [Line Items]
Revenue	782	723	1,552	1,546
Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	712	658	1,412	1,357
MA
Disaggregation of Revenue [Line Items]
Revenue	747	675	1,484	1,370
MA | United States
Disaggregation of Revenue [Line Items]
Revenue	327	297	651	607
MA | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	420	378	833	763
MA | Decision Solutions (DS)
Disaggregation of Revenue [Line Items]
Revenue	334	294	668	608
MA | Decision Solutions (DS) | United States
Disaggregation of Revenue [Line Items]
Revenue	140	120	279	253
MA | Decision Solutions (DS) | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	194	174	389	355
MA | Research and Insights (R&I)
Disaggregation of Revenue [Line Items]
Revenue	217	203	432	406
MA | Research and Insights (R&I) | United States
Disaggregation of Revenue [Line Items]
Revenue	119	115	237	232
MA | Research and Insights (R&I) | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	98	88	195	174
MA | Data and Information (D&I)
Disaggregation of Revenue [Line Items]
Revenue	196	178	384	356
MA | Data and Information (D&I) | United States
Disaggregation of Revenue [Line Items]
Revenue	68	62	135	122
MA | Data and Information (D&I) | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	128	116	249	234
MIS
Disaggregation of Revenue [Line Items]
Revenue	747	706	1,480	1,533
MIS | United States
Disaggregation of Revenue [Line Items]
Revenue	455	426	901	939
MIS | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	292	280	579	594
MIS | Corporate Finance (CFG)
Disaggregation of Revenue [Line Items]
Revenue	365	322	721	739
MIS | Corporate Finance (CFG) | United States
Disaggregation of Revenue [Line Items]
Revenue	239	210	485	485
MIS | Corporate Finance (CFG) | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	126	112	236	254
MIS | Structured Finance (SFG)
Disaggregation of Revenue [Line Items]
Revenue	102	123	201	267
MIS | Structured Finance (SFG) | United States
Disaggregation of Revenue [Line Items]
Revenue	60	83	121	180
MIS | Structured Finance (SFG) | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	42	40	80	87
MIS | Financial Institutions (FIG)
Disaggregation of Revenue [Line Items]
Revenue	145	128	287	259
MIS | Financial Institutions (FIG) | United States
Disaggregation of Revenue [Line Items]
Revenue	73	53	136	118
MIS | Financial Institutions (FIG) | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	72	75	151	141
MIS | Public, Project and Infrastructure Finance (PPIF)
Disaggregation of Revenue [Line Items]
Revenue	127	122	256	245
MIS | Public, Project and Infrastructure Finance (PPIF) | United States
Disaggregation of Revenue [Line Items]
Revenue	83	78	159	153
MIS | Public, Project and Infrastructure Finance (PPIF) | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	44	44	97	92
MIS | Total ratings revenue
Disaggregation of Revenue [Line Items]
Revenue	739	695	1,465	1,510
MIS | Total ratings revenue | United States
Disaggregation of Revenue [Line Items]
Revenue	455	424	901	936
MIS | Total ratings revenue | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	284	271	564	574
MIS | MIS Other
Disaggregation of Revenue [Line Items]
Revenue	8	11	15	23
MIS | MIS Other | United States
Disaggregation of Revenue [Line Items]
Revenue	0	2	0	3
MIS | MIS Other | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	$ 8	$ 9	$ 15	$ 20

Revenues - Consolidated Revenue

Revenues - Consolidated Revenue Information by Geographic Area (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Revenue	$ 1,494	$ 1,381	$ 2,964	$ 2,903
MA
Segment Reporting Information [Line Items]
Revenue	747	675	1,484	1,370
MIS
Segment Reporting Information [Line Items]
Revenue	747	706	1,480	1,533
United States
Segment Reporting Information [Line Items]
Revenue	782	723	1,552	1,546
United States | MA
Segment Reporting Information [Line Items]
Revenue	327	297	651	607
United States | MIS
Segment Reporting Information [Line Items]
Revenue	455	426	901	939
Non-U.S.
Segment Reporting Information [Line Items]
Revenue	712	658	1,412	1,357
Non-U.S. | MA
Segment Reporting Information [Line Items]
Revenue	420	378	833	763
Non-U.S. | MIS
Segment Reporting Information [Line Items]
Revenue	292	280	579	594
EMEA
Segment Reporting Information [Line Items]
Revenue	470	422	921	878
EMEA | MA
Segment Reporting Information [Line Items]
Revenue	289	257	567	520
EMEA | MIS
Segment Reporting Information [Line Items]
Revenue	181	165	354	358
Asia-Pacific
Segment Reporting Information [Line Items]
Revenue	146	151	297	293
Asia-Pacific | MA
Segment Reporting Information [Line Items]
Revenue	71	71	151	139
Asia-Pacific | MIS
Segment Reporting Information [Line Items]
Revenue	75	80	146	154
Americas
Segment Reporting Information [Line Items]
Revenue	96	85	194	186
Americas | MA
Segment Reporting Information [Line Items]
Revenue	60	50	115	104
Americas | MIS
Segment Reporting Information [Line Items]
Revenue	$ 36	$ 35	$ 79	$ 82

Revenues - Transaction and Rela

Revenues - Transaction and Relationship Revenue (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 1,494	$ 1,381	$ 2,964	$ 2,903
Percentage of revenues	100%	100%	100%	100%
Transaction Revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 490	$ 454	$ 967	$ 1,025
Percentage of revenues	33%	33%	33%	35%
Recurring Revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 1,004	$ 927	$ 1,997	$ 1,878
Percentage of revenues	67%	67%	67%	65%
MA
Disaggregation of Revenue [Line Items]
Revenue	$ 747	$ 675	$ 1,484	$ 1,370
Percentage of revenues	100%	100%	100%	100%
MA | Decision Solutions (DS)
Disaggregation of Revenue [Line Items]
Revenue	$ 334	$ 294	$ 668	$ 608
Percentage of revenues	100%	100%	100%	100%
MA | Research and Insights (R&I)
Disaggregation of Revenue [Line Items]
Revenue	$ 217	$ 203	$ 432	$ 406
Percentage of revenues	100%	100%	100%	100%
MA | Data and Information (D&I)
Disaggregation of Revenue [Line Items]
Revenue	$ 196	$ 178	$ 384	$ 356
Percentage of revenues	100%	100%	100%	100%
MA | Transaction Revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 47	$ 42	$ 92	$ 86
Percentage of revenues	6%	6%	6%	6%
MA | Transaction Revenue | Decision Solutions (DS)
Disaggregation of Revenue [Line Items]
Revenue	$ 43	$ 38	$ 83	$ 78
Percentage of revenues	13%	13%	12%	13%
MA | Transaction Revenue | Research and Insights (R&I)
Disaggregation of Revenue [Line Items]
Revenue	$ 3	$ 4	$ 8	$ 8
Percentage of revenues	1%	2%	2%	2%
MA | Transaction Revenue | Data and Information (D&I)
Disaggregation of Revenue [Line Items]
Revenue	$ 1	$ 0	$ 1	$ 0
Percentage of revenues	1%	0%	0%	0%
MA | Recurring Revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 700	$ 633	$ 1,392	$ 1,284
Percentage of revenues	94%	94%	94%	94%
MA | Recurring Revenue | Decision Solutions (DS)
Disaggregation of Revenue [Line Items]
Revenue	$ 291	$ 256	$ 585	$ 530
Percentage of revenues	87%	87%	88%	87%
MA | Recurring Revenue | Research and Insights (R&I)
Disaggregation of Revenue [Line Items]
Revenue	$ 214	$ 199	$ 424	$ 398
Percentage of revenues	99%	98%	98%	98%
MA | Recurring Revenue | Data and Information (D&I)
Disaggregation of Revenue [Line Items]
Revenue	$ 195	$ 178	$ 383	$ 356
Percentage of revenues	99%	100%	100%	100%
MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 747	$ 706	$ 1,480	$ 1,533
Percentage of revenues	100%	100%	100%	100%
MIS | Corporate Finance (CFG)
Disaggregation of Revenue [Line Items]
Revenue	$ 365	$ 322	$ 721	$ 739
Percentage of revenues	100%	100%	100%	100%
MIS | Structured Finance (SFG)
Disaggregation of Revenue [Line Items]
Revenue	$ 102	$ 123	$ 201	$ 267
Percentage of revenues	100%	100%	100%	100%
MIS | Financial Institutions (FIG)
Disaggregation of Revenue [Line Items]
Revenue	$ 145	$ 128	$ 287	$ 259
Percentage of revenues	100%	100%	100%	100%
MIS | Public, Project and Infrastructure Finance (PPIF)
Disaggregation of Revenue [Line Items]
Revenue	$ 127	$ 122	$ 256	$ 245
Percentage of revenues	100%	100%	100%	100%
MIS | MIS Other
Disaggregation of Revenue [Line Items]
Revenue	$ 8	$ 11	$ 15	$ 23
Percentage of revenues	100%	100%	100%	100%
MIS | Transaction Revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 443	$ 412	$ 875	$ 939
Percentage of revenues	59%	58%	59%	61%
MIS | Transaction Revenue | Corporate Finance (CFG)
Disaggregation of Revenue [Line Items]
Revenue	$ 236	$ 199	$ 466	$ 492
Percentage of revenues	65%	62%	65%	67%
MIS | Transaction Revenue | Structured Finance (SFG)
Disaggregation of Revenue [Line Items]
Revenue	$ 48	$ 73	$ 94	$ 166
Percentage of revenues	47%	59%	47%	62%
MIS | Transaction Revenue | Financial Institutions (FIG)
Disaggregation of Revenue [Line Items]
Revenue	$ 73	$ 57	$ 143	$ 118
Percentage of revenues	50%	45%	50%	46%
MIS | Transaction Revenue | Public, Project and Infrastructure Finance (PPIF)
Disaggregation of Revenue [Line Items]
Revenue	$ 84	$ 82	$ 169	$ 161
Percentage of revenues	66%	67%	66%	66%
MIS | Transaction Revenue | MIS Other
Disaggregation of Revenue [Line Items]
Revenue	$ 2	$ 1	$ 3	$ 2
Percentage of revenues	25%	9%	20%	9%
MIS | Recurring Revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 304	$ 294	$ 605	$ 594
Percentage of revenues	41%	42%	41%	39%
MIS | Recurring Revenue | Corporate Finance (CFG)
Disaggregation of Revenue [Line Items]
Revenue	$ 129	$ 123	$ 255	$ 247
Percentage of revenues	35%	38%	35%	33%
MIS | Recurring Revenue | Structured Finance (SFG)
Disaggregation of Revenue [Line Items]
Revenue	$ 54	$ 50	$ 107	$ 101
Percentage of revenues	53%	41%	53%	38%
MIS | Recurring Revenue | Financial Institutions (FIG)
Disaggregation of Revenue [Line Items]
Revenue	$ 72	$ 71	$ 144	$ 141
Percentage of revenues	50%	55%	50%	54%
MIS | Recurring Revenue | Public, Project and Infrastructure Finance (PPIF)
Disaggregation of Revenue [Line Items]
Revenue	$ 43	$ 40	$ 87	$ 84
Percentage of revenues	34%	33%	34%	34%
MIS | Recurring Revenue | MIS Other
Disaggregation of Revenue [Line Items]
Revenue	$ 6	$ 10	$ 12	$ 21
Percentage of revenues	75%	91%	80%	91%

Revenues - Revenue Recognition

Revenues - Revenue Recognition Timing (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue recognized	$ 1,494	$ 1,381	$ 2,964	$ 2,903
At Point in Time
Disaggregation of Revenue [Line Items]
Revenue recognized	465	428	924	996
Over Time
Disaggregation of Revenue [Line Items]
Revenue recognized	1,029	953	2,040	1,907
MA
Disaggregation of Revenue [Line Items]
Revenue recognized	747	675	1,484	1,370
MA | At Point in Time
Disaggregation of Revenue [Line Items]
Revenue recognized	22	16	49	57
MA | Over Time
Disaggregation of Revenue [Line Items]
Revenue recognized	725	659	1,435	1,313
MIS
Disaggregation of Revenue [Line Items]
Revenue recognized	747	706	1,480	1,533
MIS | At Point in Time
Disaggregation of Revenue [Line Items]
Revenue recognized	443	412	875	939
MIS | Over Time
Disaggregation of Revenue [Line Items]
Revenue recognized	$ 304	$ 294	$ 605	$ 594

Revenues - Unbilled Receivables

Revenues - Unbilled Receivables (Detail) - Accounts Receivable - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
MA
Disaggregation of Revenue [Line Items]
Unbilled Receivables	$ 119	$ 148
MIS
Disaggregation of Revenue [Line Items]
Unbilled Receivables	$ 428	$ 385

Revenues - Schedule of Changes

Revenues - Schedule of Changes in the Deferred Revenue Balances (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Change in Contract with Customer, Liability [Abstract]
Beginning Balance	$ 1,648	$ 1,611	$ 1,333	$ 1,335
Revenue recognized that was included in the deferred revenue balance at the beginning of the period	(708)	(508)	(948)	(809)
Increases due to amounts billable excluding amounts recognized as revenue during the period	508	307	1,046	895
Increases due to acquisitions during the period			0	1
Effect of exchange rate changes	4	(44)	21	(56)
Total changes in deferred revenue	(196)	(245)	119	31
Ending Balance	1,452	1,366	1,452	1,366
Deferred revenue	1,385	1,285	1,385	1,285	$ 1,258
Non-current portion of deferred revenue	67	81	67	81	$ 75
MA
Change in Contract with Customer, Liability [Abstract]
Beginning Balance	1,288	1,234	1,055	1,039
Revenue recognized that was included in the deferred revenue balance at the beginning of the period	(592)	(391)	(788)	(654)
Increases due to amounts billable excluding amounts recognized as revenue during the period	417	213	830	680
Increases due to acquisitions during the period			0	1
Effect of exchange rate changes	3	(37)	19	(47)
Total changes in deferred revenue	(172)	(215)	61	(20)
Ending Balance	1,116	1,019	1,116	1,019
Deferred revenue	1,115	1,017	1,115	1,017
Non-current portion of deferred revenue	1	2	1	2
MIS
Change in Contract with Customer, Liability [Abstract]
Beginning Balance	360	377	278	296
Revenue recognized that was included in the deferred revenue balance at the beginning of the period	(116)	(117)	(160)	(155)
Increases due to amounts billable excluding amounts recognized as revenue during the period	91	94	216	215
Increases due to acquisitions during the period			0	0
Effect of exchange rate changes	1	(7)	2	(9)
Total changes in deferred revenue	(24)	(30)	58	51
Ending Balance	336	347	336	347
Deferred revenue	270	268	270	268
Non-current portion of deferred revenue	$ 66	$ 79	$ 66	$ 79

Revenues - Expected Recognition

Revenues - Expected Recognition Period for Remaining Performance Obligations (Detail) $ in Millions	Jun. 30, 2023 USD ($)
MA
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 3,200
MA | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	65%
Revenue, remaining performance obligation, period	1 year
MA | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	25%
MA | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period	1 year
MA | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period	2 years
MIS
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 96
MIS | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	25%
Revenue, remaining performance obligation, period	1 year
MIS | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	50%
MIS | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period	1 year
MIS | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period	5 years

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-Based Compensation Cost and Associated Tax Benefit (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Stock-based compensation cost	$ 50	$ 38	$ 97	$ 84
Tax benefit	$ 12	$ 9	$ 22	$ 20

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended	6 Months Ended
	Apr. 30, 2023	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock options, granted (in shares)		0.1
Employee stock options, weighted average grant date fair value (in usd per share)		$ 94.67
2001 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, number of additional shares authorized (in shares)	4
Number of shares authorized (in shares)		54.6
Instruments Other Than Options | 2001 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)		10.7
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Other than options, shares granted (in shares)		0.6
Other than options, weighted average grant date fair value (in usd per share)		$ 295.59
Award vesting period		4 years
Unrecognized compensation expense		$ 309
Weighted average period to recognize expense		2 years 8 months 12 days
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		4 years
Unrecognized compensation expense		$ 17
Weighted average period to recognize expense		2 years 1 month 6 days
Performance Based Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Other than options, shares granted (in shares)		0.1
Other than options, weighted average grant date fair value (in usd per share)		$ 286.04
Award vesting period		3 years
Unrecognized compensation expense		$ 39
Weighted average period to recognize expense		2 years 2 months 12 days

Stock-Based Compensation - Weig

Stock-Based Compensation - Weighted Average Assumptions used in Determining Fair Value for Options Granted (Detail) - Share-Based Payment Arrangement	6 Months Ended
	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	1.04%
Expected stock volatility	29%
Risk-free interest rate	4.18%
Expected holding period	5 years 9 months 18 days

Stock-Based Compensation - St_2

Stock-Based Compensation - Stock Option Exercises and Restricted Stock Vesting (Detail) - USD ($) shares in Thousands, $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Proceeds from stock option exercises	$ 21	$ 4
Aggregate intrinsic value	44	5
Tax benefit realized upon exercise	$ 10	$ 1
Number of shares exercised (shares)	200	0	27
Restricted Stock
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Fair value of shares vested	$ 147	$ 170
Tax benefit realized upon vesting	$ 34	$ 40
Number of shares vested (shares)	500	500
Performance Based Restricted Stock
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Fair value of shares vested	$ 24	$ 50
Tax benefit realized upon vesting	$ 3	$ 7
Number of shares vested (shares)	100	200

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Effective tax rate (percent)	23.40%	26.20%	12%	21.60%
Decrease in effective income tax due to resolution of uncertain tax positions	2.80%		9.60%
Reduction resulting from lapse of applicable statute of limitations and settlement			$ 117
Excess tax benefits from stock compensation			$ 13
Income tax examination, description			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 2019 through 2020 are currently under examination and 2021 remains open to examination. The Company’s New York City tax returns for 2015 through 2019 are currently under examination. The Company’s U.K. tax returns for 2017 through 2021 remain open to examination.
Inflation reduction act impact on ETR			In August 2022, the U.S. Congress passed the Inflation Reduction Act, which included a corporate minimum tax on book earnings of 15%, an excise tax on corporate share repurchases of 1%, and certain climate change and energy tax credit incentives. The adoption of a corporate minimum tax of 15% is not expected to impact Moody’s ETR. The excise tax of 1% on corporate share buybacks will not have an impact on the Company’s ETR for 2023.

Income Taxes - Income Taxes Pai

Income Taxes - Income Taxes Paid (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income taxes paid	$ 122	$ 326

Reconciliation of Weighted Av_3

Reconciliation of Weighted Average Shares Outstanding - Reconciliation of Basic to Diluted Shares Outstanding (Detail) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Basic (in shares)	183.5	184.1	183.4	184.6
Dilutive effect of shares issuable under stock-based compensation plans (in shares)	0.6	0.8	0.7	0.8
Diluted (in shares)	184.1	184.9	184.1	185.4
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)	0.4	0.8	0.5	0.4

Accelerated Share Repurchase _2

Accelerated Share Repurchase Program - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions		1 Months Ended	2 Months Ended
	Mar. 01, 2022	Apr. 30, 2022	Apr. 30, 2022
Accelerated Share Repurchases [Line Items]
Accelerated share repurchases, final price paid per share (in usd per share)			$ 324.20
Accelerated Share Repurchases
Accelerated Share Repurchases [Line Items]
Treasury shares repurchased (in shares)			1.5
March 1, 2022
Accelerated Share Repurchases [Line Items]
Accelerated share repurchases, total Value committed to repurchase	$ 500,000,000
Accelerated share repurchase payment	$ 500,000,000
March 1, 2022 | Accelerated Share Repurchases
Accelerated Share Repurchases [Line Items]
Treasury shares repurchased (in shares)	1.2
April 25, 2022 | Accelerated Share Repurchases
Accelerated Share Repurchases [Line Items]
Treasury shares repurchased (in shares)		0.3

Cash Equivalents and Investme_3

Cash Equivalents and Investments (Detail) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 2,278	$ 1,769
Short-term investments	57	90
Other assets	1,101	1,092
Certificates of deposit and money market deposit accounts/funds
Cash and Cash Equivalents [Line Items]
Cost	1,221	914
Gains/(Losses)	0	0
Fair Value	1,221	914
Cash and cash equivalents	1,159	808
Short-term investments	57	90
Other assets	5	16
Mutual funds
Cash and Cash Equivalents [Line Items]
Cost	87	71
Gains/(Losses)	4	0
Fair Value	91	71
Cash and cash equivalents	0	0
Short-term investments	0	0
Other assets	$ 91	$ 71

Cash Equivalents and Investme_4

Cash Equivalents and Investments (Footnote) (Detail) - Certificates of deposit and money market deposit accounts/funds	Jun. 30, 2023	Dec. 31, 2022
Short-term Investments | Minimum
Cash and Cash Equivalents [Line Items]
Securities maturity period	1 month
Short-term Investments | Maximum
Cash and Cash Equivalents [Line Items]
Securities maturity period		12 months
Other assets | Minimum
Cash and Cash Equivalents [Line Items]
Securities maturity period	13 months	13 months
Other assets | Maximum
Cash and Cash Equivalents [Line Items]
Securities maturity period	18 months	24 months
Cash and Cash Equivalents | Maximum
Cash and Cash Equivalents [Line Items]
Securities maturity period	90 days

Cash Equivalents and Investme_5

Cash Equivalents and Investments (Narrative) (Detail) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Cash and Cash Equivalents [Abstract]
Company owned life insurance (at contract value)	$ 47	$ 40

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	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Derivative [Line Items]
Notional Amount	$ 2,550	$ 2,550
2017 Senior Notes due 2028
Derivative [Line Items]
Notional Amount	$ 500	$ 500
Floating Interest Rate	SOFR	3-month LIBOR
2020 Senior Notes due 2025
Derivative [Line Items]
Notional Amount	$ 300	$ 300
Floating Interest Rate	SOFR	6-month LIBOR
2014 Senior Notes due 2044
Derivative [Line Items]
Notional Amount	$ 300	$ 300
Floating Interest Rate	SOFR	3-month LIBOR
2018 Senior Notes due 2048
Derivative [Line Items]
Notional Amount	$ 300	$ 300
Floating Interest Rate	SOFR	3-month LIBOR
2018 Senior Notes due 2029
Derivative [Line Items]
Notional Amount	$ 400	$ 400
Floating Interest Rate	SOFR	SOFR
2022 Senior Notes due 2052
Derivative [Line Items]
Notional Amount	$ 500	$ 500
Floating Interest Rate	SOFR	SOFR
2022 Senior Notes due 2032
Derivative [Line Items]
Notional Amount	$ 250	$ 250
Floating Interest Rate	SOFR	SOFR

Derivative Instruments And He_4

Derivative Instruments And Hedging Activities - Summary of Net Gain (Loss) on Interest Rate Swaps Designated in Fair Value Hedge (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Interest expense, net	$ (71)	$ (55)	$ (119)	$ (108)
Designated as Hedging Instrument | Interest Rate Swap | Fair Value hedge Net Interest Settlements and Accruals
Derivative Instruments, Gain (Loss) [Line Items]
Net interest settlements and accruals on interest rate swaps	(21)	3	(39)	9
Designated as Hedging Instrument | Interest Rate Swap | Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Fair value changes on interest rate swaps	(46)	(47)	0	(132)
Fair value changes on hedged debt	$ 46	$ 47	$ 0	$ 132

Derivative Instruments And He_5

Derivative Instruments And Hedging Activities - Additional Information (Detail) - Jun. 30, 2023 € in Millions, $ in Millions	USD ($)	EUR (€)
Not Designated as Accounting Hedges | Total return swaps
Derivative [Line Items]
Notional Amount | $	$ 59
Net Investment Hedging | Designated as Hedging Instrument | Currency Swap
Derivative [Line Items]
Notional Amount		€ 2,903
1.75% 2015 Senior Notes, due 2027 | Net Investment Hedging | Designated as Hedging Instrument | Currency Swap
Derivative [Line Items]
Notional Amount		500
2019 Senior Notes Due 2030 | Net Investment Hedging | Designated as Hedging Instrument | Currency Swap
Derivative [Line Items]
Notional Amount		€ 750

Derivative Instruments And He_6

Derivative Instruments And Hedging Activities - Summary of Notional Amounts of Outstanding Cross Currency Swap (Detail) - Currency Swap - Net Investment Hedging € in Millions, $ in Millions	3 Months Ended	6 Months Ended
	Mar. 31, 2023	Jun. 30, 2023 USD ($)	Jun. 30, 2022	Jun. 30, 2023 EUR (€)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 EUR (€)
Currency Paid
Derivative [Line Items]
Notional Amount | €				€ 2,903		€ 2,903
Currency Paid | 3.67%
Derivative [Line Items]
Notional Amount | €				€ 765		€ 765
Weighted Average Interest Rate		3.67%		3.67%	3.67%	3.67%
Currency Paid | 3-month EURIBOR One
Derivative [Line Items]
Notional Amount | €						€ 450
Floating Interest Rate			Based on 3-month EURIBOR
Currency Paid | Based on ESTR
Derivative [Line Items]
Notional Amount | €				€ 2,138		€ 1,688
Floating Interest Rate		Based on ESTR	Based on ESTR
Currency Received
Derivative [Line Items]
Notional Amount | $		$ 3,050			$ 3,050
Currency Received | 5.25%
Derivative [Line Items]
Notional Amount | $		$ 800			$ 800
Weighted Average Interest Rate		5.25%		5.25%	5.25%	5.25%
Currency Received | 3-month U.S. LIBOR
Derivative [Line Items]
Notional Amount | $					$ 500
Floating Interest Rate	Based on 3-month USD LIBOR
Currency Received | Based on SOFR
Derivative [Line Items]
Notional Amount | $		$ 2,250			$ 1,750
Floating Interest Rate	Based on SOFR	Based on SOFR

Derivative Instruments And He_7

Derivative Instruments And Hedging Activities - Schedule of Notional Amount of Net Investment Hedges (Detail) - Designated as Hedging Instrument - Currency Swap € in Millions	Jun. 30, 2023 EUR (€)
Net Investment Hedging
Derivative [Line Items]
Notional Amount	€ 2,903
2026
Derivative [Line Items]
Notional Amount	450
2027
Derivative [Line Items]
Notional Amount	531
2028
Derivative [Line Items]
Notional Amount	588
2029
Derivative [Line Items]
Notional Amount	373
2031
Derivative [Line Items]
Notional Amount	481
2032
Derivative [Line Items]
Notional Amount	€ 480

Derivative Instruments And He_8

Derivative Instruments And Hedging Activities - Gains (Losses) Recognized in AOCI and Reclassified from AOCI on Derivatives (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Total, Amount of Gain/(Loss) Recognized in AOCI on Derivative, net of Tax	$ (28)	$ 181	$ (85)	$ 228
Cash Flow Hedging Relationships, Amount of Gain/(Loss) Reclassified from AOCI into Income, net of Tax	1	0	0	(1)
Total, Amount of Gain/(Loss) Reclassified from AOCI into Income, net of Tax	1	(1)	0	(1)
Gain Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	14	11	30	21
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	(28)	181	(85)	228
Net investment hedges - reclassification of gains included in net income - Net of Tax	0	0	0	0
Gain Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	14	11	30	21
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	0	0	0
Cash Flow Hedging Relationships, Amount of Gain/(Loss) Reclassified from AOCI into Income, net of Tax	1	(1)	0	(1)
Gain Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	0	0	0	0
Currency Swap | Net Investment Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Net Investment Hedging Relationships, Amount of Gain/(Loss) Recognized in AOCI on Derivative, net of Tax	(24)	118	(63)	142
Net investment hedges - reclassification of gains included in net income - Net of Tax	0	0	0	0
Gain Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	14	11	30	21
Currency Swap | 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	0	0	0
Cash Flow Hedging Relationships, Amount of Gain/(Loss) Reclassified from AOCI into Income, net of Tax	1	0	1	0
Gain Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	0	0	0	0
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	(4)	63	(22)	86
Net investment hedges - reclassification of gains included in net income - Net of Tax	0	0	0	0
Gain Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	0	0	0	0
Interest rate contracts | 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	0	0	0
Cash Flow Hedging Relationships, Amount of Gain/(Loss) Reclassified from AOCI into Income, net of Tax	0	(1)	(1)	(1)
Gain Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	$ 0	$ 0	$ 0	$ 0

Derivative Instruments And He_9

Derivative Instruments And Hedging Activities - Cumulative Amount of Unrecognized Hedge Losses Recorded in AOCI (Detail) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Derivative [Line Items]
Cumulative Gains/(Losses), net of tax	$ (570)	$ (643)
Designated as Hedging Instrument
Derivative [Line Items]
Cumulative Gains/(Losses), net of tax	55	140
Net Investment Hedging | Designated as Hedging Instrument
Derivative [Line Items]
Cumulative Gains/(Losses), net of tax	100	185
Net Investment Hedging | Cross currency swaps | Designated as Hedging Instrument
Derivative [Line Items]
Cumulative Gains/(Losses), net of tax	55	118
Net Investment Hedging | FX forwards | Designated as Hedging Instrument
Derivative [Line Items]
Cumulative Gains/(Losses), net of tax	29	29
Net Investment Hedging | Long-term debt | Designated as Hedging Instrument
Derivative [Line Items]
Cumulative Gains/(Losses), net of tax	16	38
Cash Flow Hedging | Designated as Hedging Instrument
Derivative [Line Items]
Cumulative Gains/(Losses), net of tax	(45)	(45)
Cash Flow Hedging | Cross currency swaps | Designated as Hedging Instrument
Derivative [Line Items]
Cumulative Gains/(Losses), net of tax	1	2
Cash Flow Hedging | Interest rate contracts | Designated as Hedging Instrument
Derivative [Line Items]
Cumulative Gains/(Losses), net of tax	$ (46)	$ (47)

Derivative Instruments And H_10

Derivative Instruments And Hedging Activities - Summary of Notional Amounts of Outstanding Foreign Exchange Forwards (Detail) - Not Designated as Accounting Hedges € in Millions, ₨ in Millions, ¥ in Millions, £ in Millions, $ in Millions, $ in Millions, $ in Millions	Jun. 30, 2023 USD ($)	Jun. 30, 2023 EUR (€)	Jun. 30, 2023 GBP (£)	Jun. 30, 2023 JPY (¥)	Jun. 30, 2023 CAD ($)	Jun. 30, 2023 SGD ($)	Jun. 30, 2023 INR (₨)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 EUR (€)	Dec. 31, 2022 GBP (£)	Dec. 31, 2022 JPY (¥)	Dec. 31, 2022 CAD ($)	Dec. 31, 2022 SGD ($)	Dec. 31, 2022 INR (₨)
Contracts to sell USD for GBP
Derivative [Line Items]
Notional Amount	$ 683		£ 548					$ 170		£ 146
Contracts to sell USD for Japanese yen
Derivative [Line Items]
Notional Amount	15			¥ 2,000				24			¥ 3,500
Contracts to sell USD for Canadian dollars
Derivative [Line Items]
Notional Amount	116				$ 155			87				$ 120
Contracts to sell USD for Singapore dollars
Derivative [Line Items]
Notional Amount	81					$ 109		50					$ 70
Contracts to sell USD for euros
Derivative [Line Items]
Notional Amount	272	€ 250						116	€ 115
Contracts to sell USD for Indian rupee
Derivative [Line Items]
Notional Amount	23						₨ 1,900	19						₨ 1,600
Contracts to sell euros for USD
Derivative [Line Items]
Notional Amount	135	€ 125						89	€ 85
Contracts to sell GBP for USD
Derivative [Line Items]
Notional Amount	$ 115		£ 90					$ 0		£ 0

Derivative Instruments And H_11

Derivative Instruments And Hedging Activities - Summary of Net Gain (Loss) on Foreign Exchange Forwards Not Designated as Hedging Instruments (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Other non-operating income, net | Not Designated as Accounting Hedges | FX forwards
Derivative Instruments, Gain (Loss) [Line Items]
Foreign exchange forwards amount of gain (loss) recognized in income	$ 10	$ (38)	$ 15	$ (57)

Derivative Instruments And H_12

Derivative Instruments And Hedging Activities - Fair Value of Derivative Instruments (Detail) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Assets	$ 17	$ 46
Liabilities	1,748	1,653
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities	381	317
Designated as Hedging Instrument | Long-term debt | Net Investment Hedging
Derivatives, Fair Value [Line Items]
Liabilities	1,364	1,334
Designated as Hedging Instrument | Currency Swap | Other assets | Net Investment Hedging
Derivatives, Fair Value [Line Items]
Assets	7	27
Designated as Hedging Instrument | Currency Swap | Other liabilities | Net Investment Hedging
Derivatives, Fair Value [Line Items]
Liabilities	142	78
Designated as Hedging Instrument | Interest Rate Swap | Other liabilities | Fair Value Hedging
Derivatives, Fair Value [Line Items]
Liabilities	239	239
Not Designated as Accounting Hedges | FX forwards | Other current assets
Derivatives, Fair Value [Line Items]
Assets	10	19
Not Designated as Accounting Hedges | FX forwards | Accounts payable and accrued liabilities
Derivatives, Fair Value [Line Items]
Liabilities	$ 3	$ 2

Goodwill And Other Acquired I_3

Goodwill And Other Acquired Intangible Assets - Activity in Goodwill (Detail) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Beginning balance, goodwill gross	$ 5,851	$ 6,011
Beginning balance, Accumulated impairment charge	(12)	(12)
Beginning balance, goodwill net	5,839	5,999
Additions/ adjustments	3	92
Foreign currency translation adjustments	84	(252)
Ending balance, goodwill gross	5,938	5,851
Ending balance, Accumulated impairment charge	(12)	(12)
Ending balance, goodwill net	5,926	5,839
MA
Goodwill [Roll Forward]
Beginning balance, goodwill gross	5,474	5,615
Beginning balance, Accumulated impairment charge	(12)	(12)
Beginning balance, goodwill net	5,462	5,603
Additions/ adjustments	90	88
Foreign currency translation adjustments	85	(229)
Ending balance, goodwill gross	5,649	5,474
Ending balance, Accumulated impairment charge	(12)	(12)
Ending balance, goodwill net	5,637	5,462
MIS
Goodwill [Roll Forward]
Beginning balance, goodwill gross	377	396
Beginning balance, Accumulated impairment charge	0	0
Beginning balance, goodwill net	377	396
Additions/ adjustments	(87)	4
Foreign currency translation adjustments	(1)	(23)
Ending balance, goodwill gross	289	377
Ending balance, Accumulated impairment charge	0	0
Ending balance, goodwill net	$ 289	$ 377

Goodwill And Other Acquired I_4

Goodwill And Other Acquired Intangible Assets - Acquired Intangible Assets and Related Amortization (Detail) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, net	$ 2,138	$ 2,210
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, gross	2,055	2,024
Accumulated amortization	(507)	(453)
Acquired intangible assets, net	1,548	1,571
Software/product technology
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, gross	670	661
Accumulated amortization	(326)	(283)
Acquired intangible assets, net	344	378
Database
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, gross	178	178
Accumulated amortization	(73)	(64)
Acquired intangible assets, net	105	114
Trade names
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, gross	199	197
Accumulated amortization	(65)	(58)
Acquired intangible assets, net	134	139
Other
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, gross	52	52
Accumulated amortization	(45)	(44)
Acquired intangible assets, net	$ 7	$ 8

Goodwill And Other Acquired I_5

Goodwill And Other Acquired Intangible Assets - Amortization Expense Relating to Acquired Intangible Assets (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 50	$ 51	$ 101	$ 102

Restructuring - Additional Info

Restructuring - Additional Information (Detail) - 2022-2023 Geolocation Restructuring Program - USD ($) $ in Millions		6 Months Ended	27 Months Ended
	Jun. 30, 2022	Jun. 30, 2023	Dec. 31, 2024
Restructuring Cost and Reserve [Line Items]
Payments for restructuring		$ 57
Cost incurred to date		137
Minimum | Forecast
Restructuring Cost and Reserve [Line Items]
Payments for restructuring			$ 110
Maximum | Forecast
Restructuring Cost and Reserve [Line Items]
Payments for restructuring			$ 120
Estimated Annual Savings | Minimum
Restructuring Cost and Reserve [Line Items]
Effect on future earnings, amount	$ 120
Estimated Annual Savings | Maximum
Restructuring Cost and Reserve [Line Items]
Effect on future earnings, amount	$ 140
Termination or Sublease of Affected Real Estate Leases | Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost		50
Termination or Sublease of Affected Real Estate Leases | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost		70
Employee Severance
Restructuring Cost and Reserve [Line Items]
Cost incurred to date		107
Employee Severance | Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost		110
Employee Severance | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost		$ 120

Restructuring - Restructuring E

Restructuring - Restructuring Expenses Included in Consolidated Statements of Operations (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring	$ 10	$ 31	$ 24	$ 31
2020 MA Strategic Reorganization Restructuring Program
Restructuring Cost and Reserve [Line Items]
Restructuring	0	(1)	0	(1)
2022-2023 Geolocation Restructuring Program
Restructuring Cost and Reserve [Line Items]
Restructuring	$ 10	$ 32	$ 24	$ 32

Restructuring - Changes in Rest

Restructuring - Changes in Restructuring Liability (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Restructuring Reserve [Roll Forward]
Restructuring liability, Beginning Balance	$ 65
Restructuring liability, Ending Balance	$ 30
Restructuring, incurred cost, statement of income or comprehensive income	Restructuring Charges
2022-2023 Geolocation Restructuring Program
Restructuring Reserve [Roll Forward]
Cost incurred and adjustments	$ 22
Cash payments and adjustments	(57)
Cost incurred to date	137
2022-2023 Geolocation Restructuring Program | Employee Severance
Restructuring Reserve [Roll Forward]
Cost incurred to date	107
2022-2023 Geolocation Restructuring Program | Real Estate
Restructuring Reserve [Roll Forward]
Cost incurred to date	29
2022-2023 Geolocation Restructuring Program | Other Restructuring
Restructuring Reserve [Roll Forward]
Cost incurred to date	$ 1

Fair Value - Financial Instrume

Fair Value - Financial Instruments Carried at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Assets:
Total	$ 248	$ 117
Liabilities:
Total	384	319
Derivatives
Assets:
Derivatives	17	46
Liabilities:
Derivatives	384	319
Money market funds/mutual funds
Assets:
Money market funds/mutual funds	231	71
Level 1
Assets:
Total	231	71
Liabilities:
Total	0	0
Level 1 | Derivatives
Assets:
Derivatives	0	0
Liabilities:
Derivatives	0	0
Level 1 | Money market funds/mutual funds
Assets:
Money market funds/mutual funds	231	71
Level 2
Assets:
Total	17	46
Liabilities:
Total	384	319
Level 2 | Derivatives
Assets:
Derivatives	17	46
Liabilities:
Derivatives	384	319
Level 2 | Money market funds/mutual funds
Assets:
Money market funds/mutual funds	$ 0	$ 0

OTHER BALANCE SHEET AND STATE_3

OTHER BALANCE SHEET AND STATEMENTS OF OPERATIONS INFORMATION - Additional Details Related to Certain Balance Sheet Captions (Detail) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Other current assets:
Prepaid taxes	$ 169	$ 235
Prepaid expenses	112	119
Capitalized costs to obtain and fulfill sales contracts	112	106
Foreign exchange forwards on certain assets and liabilities	10	19
Interest receivable on interest rate and cross currency swaps	78	74
Other	32	30
Total other current assets	513	583
Other assets:
Investments in non-consolidated affiliates	526	517
Deposits for real-estate leases	15	15
Indemnification assets related to acquisitions	107	110
Mutual funds and fixed deposits	96	87
Company owned life insurance (at contract value)	47	40
Costs to obtain sales contracts	176	171
Derivative instruments designated as accounting hedges	7	27
Pension and other retirement employee benefits	39	40
Other	88	85
Total other assets	1,101	1,092
Accounts payable and accrued liabilities:
Salaries and benefits	113	104
Incentive compensation	166	276
Customer credits, advanced payments and advanced billings	99	102
Dividends	5	6
Professional service fees	47	49
Accrued interest	79	93
Accounts payable	37	52
Income taxes	112	86
Pension and other retirement employee benefits	7	7
Accrued royalties	26	23
Foreign exchange forwards on certain assets and liabilities	3	2
Restructuring liability	28	65
Other	93	95
Total accounts payable and accrued liabilities	877	1,011
Other liabilities:
Pension and other retirement employee benefits	195	189
Interest accrued on UTPs	30	47
MAKS indemnification provisions	19	23
Income tax liability - non-current portion	15	48
Derivative instruments designated as accounting hedges	381	317
Restructuring liability - non-current portion	2	0
Interest payable on interest rate and cross currency swaps	62	51
Other	47	50
Total other liabilities	$ 689	$ 674

OTHER BALANCE SHEET AND STATE_4

OTHER BALANCE SHEET AND STATEMENTS OF OPERATIONS INFORMATION - Investments in Non-Consolidated Affiliates (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Other Balance Sheet And Statement Of Operations Information [Abstract]
Equity method investments	$ 194	$ 187
Investments measured using the measurement alternative	325	325
Other	7	5
Total investments in non-consolidated affiliates	$ 526	$ 517

OTHER BALANCE SHEET AND STATE_5

OTHER BALANCE SHEET AND STATEMENTS OF OPERATIONS INFORMATION - Other Non-Operating Interest (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Other Balance Sheet And Statement Of Operations Information [Abstract]
FX loss	$ (5)	$ (22)	$ (31)	$ (22)
Net periodic pension costs - other components	9	6	18	12
Income from investments in non-consolidated affiliates	1	2	3	4
Gains / losses on investments	5	(9)	11	(14)
Other	3	13	12	16
Total	$ 13	(10)	13	(4)
Foreign currency transaction loss, out-of-period adjustment, before tax			23
FX losses related to liquidation of Russian subsidiaries		20		20
Other non operating income (expense) other, favorable resolutions of various tax matters		$ 11	$ 9	$ 11

Comprehensive Income And Accu_3

Comprehensive Income And Accumulated Other Comprehensive Loss - Reclassification out of AOCI (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Other non-operating income (expense), net	$ 13	$ (10)	$ 13	$ (4)
Provision for income taxes	(115)	(116)	(120)	(227)
Net income (loss) attributable to parent	377	327	878	825
Reclassification out of Accumulated Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Net income (loss) attributable to parent	2	(21)	1	(22)
Foreign Currency Translation Adjustments | Reclassification out of Accumulated Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Other non-operating income (expense), net	0	(20)	0	(20)
Net income (loss) attributable to parent	0	(20)	0	(20)
Gains (losses) on net investment hedges | Reclassification out of Accumulated Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Provision for income taxes	1	0	1	0
Net income (loss) attributable to parent	1	0	0	(1)
Gains (losses) on net investment hedges | Reclassification out of Accumulated Other Comprehensive Income | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Other non-operating income (expense), net	0	0	(1)	(1)
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	2	(1)	2	(1)
Total pension and other retirement benefits | Reclassification out of Accumulated Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Provision for income taxes	(1)	0	(1)	0
Net income (loss) attributable to parent	$ 1	$ (1)	$ 1	$ (1)

Comprehensive Income And Accu_4

Comprehensive Income And Accumulated Other Comprehensive Loss - Changes in Components of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			$ 2,519
Ending balance	$ 3,144		3,144
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(589)	$ (471)	(643)	$ (410)
Other comprehensive income/(loss) before reclassifications	21	(149)	74	(211)
Amounts reclassified from AOCL	(2)	21	(1)	22
Other comprehensive income/(loss)	19	(128)	73	(189)
Ending balance	(570)	(599)	(570)	(599)
Pension and Other Retirement Benefits
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(47)	(51)	(47)	(49)
Other comprehensive income/(loss) before reclassifications	0	4	0	2
Amounts reclassified from AOCL	(1)	1	(1)	1
Other comprehensive income/(loss)	(1)	5	(1)	3
Ending balance	(48)	(46)	(48)	(46)
Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(44)	(46)	(45)	(47)
Other comprehensive income/(loss) before reclassifications	0	0	0	0
Amounts reclassified from AOCL	(1)	0	0	1
Other comprehensive income/(loss)	(1)	0	0	1
Ending balance	(45)	(46)	(45)	(46)
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(626)	(442)	(736)	(335)
Other comprehensive income/(loss) before reclassifications	49	(334)	159	(441)
Amounts reclassified from AOCL	0	20	0	20
Other comprehensive income/(loss)	49	(314)	159	(421)
Ending balance	(577)	(756)	(577)	(756)
Net Investment Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	128	68	185	21
Other comprehensive income/(loss) before reclassifications	(28)	181	(85)	228
Amounts reclassified from AOCL	0	0	0	0
Other comprehensive income/(loss)	(28)	181	(85)	228
Ending balance	$ 100	$ 249	$ 100	$ 249

Indebtedness - Summary of Total

Indebtedness - Summary of Total Indebtedness (Detail) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Principal Amount	$ 7,564	$ 7,734
Fair Value of Interest Rate Swap	(239)	(239)
Unamortized (Discount) Premium	(53)	(55)
Unamortized Debt Issuance Costs	(49)	(51)
Carrying Amount	7,223	7,389
Current portion	(300)	0
Long-term debt	$ 6,923	$ 7,389
4.875% 2013 Senior Notes, due 2024
Debt Instrument [Line Items]
Notes payable, interest rate	4.875%	4.875%
Principal Amount	$ 300	$ 500
Fair Value of Interest Rate Swap	0	0
Unamortized (Discount) Premium	0	(1)
Unamortized Debt Issuance Costs	0	(1)
Carrying Amount	$ 300	$ 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	(42)	(42)
Unamortized (Discount) Premium	3	3
Unamortized Debt Issuance Costs	(4)	(4)
Carrying Amount	$ 557	$ 557
1.75% 2015 Senior Notes, due 2027
Debt Instrument [Line Items]
Notes payable, interest rate	1.75%	1.75%
Principal Amount	$ 546	$ 534
Fair Value of Interest Rate Swap	0	0
Unamortized (Discount) Premium	0	0
Unamortized Debt Issuance Costs	(2)	(2)
Carrying Amount	$ 544	$ 532
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	(37)	(37)
Unamortized (Discount) Premium	(3)	(3)
Unamortized Debt Issuance Costs	(2)	(2)
Carrying Amount	$ 458	$ 458
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	(42)	(42)
Unamortized (Discount) Premium	(2)	(2)
Unamortized Debt Issuance Costs	(2)	(2)
Carrying Amount	$ 354	$ 354
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	(44)	(44)
Unamortized (Discount) Premium	(6)	(6)
Unamortized Debt Issuance Costs	(4)	(4)
Carrying Amount	$ 346	$ 346
0.950% Senior Notes Due 2030
Debt Instrument [Line Items]
Notes payable, interest rate	0.95%	0.95%
Principal Amount	$ 818	$ 800
Fair Value of Interest Rate Swap	0	0
Unamortized (Discount) Premium	(2)	(2)
Unamortized Debt Issuance Costs	(4)	(4)
Carrying Amount	$ 812	$ 794
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	(24)	(27)
Unamortized (Discount) Premium	0	(1)
Unamortized Debt Issuance Costs	(2)	(3)
Carrying Amount	$ 674	$ 669
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	$ 300	$ 300
Fair Value of Interest Rate Swap	0	0
Unamortized (Discount) Premium	(2)	(2)
Unamortized Debt Issuance Costs	(3)	(3)
Carrying Amount	$ 295	$ 295
2.00% 2021 Senior Notes, due 2031
Debt Instrument [Line Items]
Notes payable, interest rate	2%	2%
Principal Amount	$ 600	$ 600
Fair Value of Interest Rate Swap	0	0
Unamortized (Discount) Premium	(7)	(7)
Unamortized Debt Issuance Costs	(4)	(4)
Carrying Amount	$ 589	$ 589
2.75% 2021 Senior Notes, due 2041
Debt Instrument [Line Items]
Notes payable, interest rate	2.75%	2.75%
Principal Amount	$ 600	$ 600
Fair Value of Interest Rate Swap	0	0
Unamortized (Discount) Premium	(13)	(13)
Unamortized Debt Issuance Costs	(5)	(5)
Carrying Amount	$ 582	$ 582
3.10% 2021 Senior Notes, due 2061
Debt Instrument [Line Items]
Notes payable, interest rate	3.10%	3.10%
Principal Amount	$ 500	$ 500
Fair Value of Interest Rate Swap	0	0
Unamortized (Discount) Premium	(7)	(7)
Unamortized Debt Issuance Costs	(5)	(5)
Carrying Amount	$ 488	$ 488
3.75% 2022 Senior Notes, due 2052
Debt Instrument [Line Items]
Notes payable, interest rate	3.75%	3.75%
Principal Amount	$ 500	$ 500
Fair Value of Interest Rate Swap	(36)	(35)
Unamortized (Discount) Premium	(8)	(8)
Unamortized Debt Issuance Costs	(5)	(5)
Carrying Amount	$ 451	$ 452
4.25% 2022 Senior Notes, due 2032
Debt Instrument [Line Items]
Notes payable, interest rate	4.25%	4.25%
Principal Amount	$ 500	$ 500
Fair Value of Interest Rate Swap	(14)	(12)
Unamortized (Discount) Premium	(2)	(2)
Unamortized Debt Issuance Costs	(4)	(4)
Carrying Amount	$ 480	$ 482

Indebtedness - Additional Infor

Indebtedness - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Debt Instrument [Line Items]
Debt instrument, covenant compliance		At June 30, 2023, the Company was in compliance with all covenants contained within all of the debt agreements. All the debt agreements contain cross default provisions which state that default under one of the aforementioned debt instruments could in turn permit lenders under other debt instruments to declare borrowings outstanding under those instruments to be immediately due and payable. As of June 30, 2023, there were no such cross defaults.
Twenty Thirteen Senior Notes
Debt Instrument [Line Items]
Repayments of debt	$ 200

Indebtedness - Principal Paymen

Indebtedness - Principal Payments Due on Long-Term Borrowings (Detail) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
2023 (After June 30,)	$ 0
2024	300
2025	700
2026	0
2027	546
Thereafter	6,018
Total principal payment	$ 7,564	$ 7,734

Indebtedness - Summary of Compo

Indebtedness - Summary of Components of Interest as Presented in Consolidated Statements of Operations (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Debt Disclosure [Abstract]
Income	$ 15	$ 2	$ 25	$ 4
Expense on borrowings	(75)	(50)	(145)	(98)
Income (expense) on UTPs and other tax related liabilities	(4)	(3)	14	(6)
Net periodic pension costs - interest component	(7)	(4)	(13)	(8)
Interest expense, net	(71)	(55)	(119)	(108)
Interest paid	$ 47	$ 12	143	$ 90
Unrecognized tax benefits, income tax penalties and interest expense, reduction of tax-related interest expense related to resolution of tax matters			$ 22

Indebtedness - Fair Value and C

Indebtedness - Fair Value and Carrying Value of Long-Term Debt (Detail) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Carrying Amount	$ 7,223	$ 7,389
Estimated Fair Value	$ 6,369	$ 6,564

Leases - Additional Information

Leases - Additional Information (Detail)	Jun. 30, 2023
Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, renewal term (years)	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, renewal term (years)	20 years

Leases - Components of Lease Co

Leases - Components of Lease Cost (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Lease, Cost [Abstract]
Operating lease cost	$ 23	$ 25	$ 47	$ 52
Sublease income	(2)	(2)	(4)	(4)
Variable lease cost	5	5	10	10
Total lease cost	$ 26	$ 28	$ 53	$ 58

Leases - Operating Leases Infor

Leases - Operating Leases Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 30	$ 29	$ 60	$ 60
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 19	$ 15	$ 24	$ 30
Weighted-average remaining lease term (years)	4 years 9 months 18 days	5 years 3 months 18 days	4 years 9 months 18 days	5 years 3 months 18 days
Weighted-average discount rate applied to operating leases (percent)	3.20%	3.10%	3.20%	3.10%

Leases - Operating Leases, Futu

Leases - Operating Leases, Future Minimum Payment (Detail) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Leases [Abstract]
2023 (After June 30,)	$ 60
2024	115
2025	103
2026	84
2027	68
After 2027	54
Total lease payments (undiscounted)	484
Less: Interest	35
Present value of lease liabilities:	449
Lease liabilities - current	105	$ 106
Lease liabilities - noncurrent	$ 344	$ 368

Segment Information - Additiona

Segment Information - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($) lineOfBusiness segment
Segment Reporting Information [Line Items]
Number of operating segments (segment) | segment	2
Number of reportable segments | segment	2
Employee Severance | 2022-2023 Geolocation Restructuring Program | Minimum
Segment Reporting Information [Line Items]
Restructuring expected cost	$ 110
Employee Severance | 2022-2023 Geolocation Restructuring Program | Maximum
Segment Reporting Information [Line Items]
Restructuring expected cost	$ 120
MA
Segment Reporting Information [Line Items]
Number of lines of businesses | lineOfBusiness	3
MA | 2022-2023 Geolocation Restructuring Program | Minimum
Segment Reporting Information [Line Items]
Restructuring expected cost	$ 80
MA | 2022-2023 Geolocation Restructuring Program | Maximum
Segment Reporting Information [Line Items]
Restructuring expected cost	$ 100
MIS
Segment Reporting Information [Line Items]
Number of lines of businesses | lineOfBusiness	5
MIS | 2022-2023 Geolocation Restructuring Program | Minimum
Segment Reporting Information [Line Items]
Restructuring expected cost	$ 80
MIS | 2022-2023 Geolocation Restructuring Program | Maximum
Segment Reporting Information [Line Items]
Restructuring expected cost	$ 90

Segment Information - Financial

Segment Information - Financial Information by Segment (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information, Operating Income (Loss) [Abstract]
Revenue	$ 1,494	$ 1,381	$ 2,964	$ 2,903
Operating, SG&A	841	761	1,655	1,549
Adjusted Operating Income	653	620	1,309	1,354
Depreciation and amortization	93	81	181	159
Restructuring	10	31	24	31
Operating income	550	508	1,104	1,164
Eliminations
Segment Reporting Information, Operating Income (Loss) [Abstract]
Revenue	(50)	(44)	(98)	(89)
Operating, SG&A	(50)	(44)	(98)	(89)
Adjusted Operating Income	0	0	0	0
Depreciation and amortization	0	0	0	0
Restructuring	0	0	0	0
MA
Segment Reporting Information, Operating Income (Loss) [Abstract]
Revenue	747	675	1,484	1,370
MA | Eliminations
Segment Reporting Information, Operating Income (Loss) [Abstract]
Revenue	4	1	7	3
MA | Operating Segments
Segment Reporting Information, Operating Income (Loss) [Abstract]
Revenue	751	676	1,491	1,373
Operating, SG&A	541	471	1,067	944
Adjusted Operating Income	210	205	424	429
Depreciation and amortization	74	60	144	120
Restructuring	8	16	16	16
MIS
Segment Reporting Information, Operating Income (Loss) [Abstract]
Revenue	747	706	1,480	1,533
MIS | Eliminations
Segment Reporting Information, Operating Income (Loss) [Abstract]
Revenue	46	43	91	86
MIS | Operating Segments
Segment Reporting Information, Operating Income (Loss) [Abstract]
Revenue	793	749	1,571	1,619
Operating, SG&A	350	334	686	694
Adjusted Operating Income	443	415	885	925
Depreciation and amortization	19	21	37	39
Restructuring	$ 2	$ 15	$ 8	$ 15

Segment Information - Cumulativ

Segment Information - Cumulative Restructuring Expense (Details) - 2022-2023 Geolocation Restructuring Program $ in Millions	Jun. 30, 2023 USD ($)
Segment Reporting Information [Line Items]
Cost incurred to date	$ 137
MA
Segment Reporting Information [Line Items]
Cost incurred to date	65
MIS
Segment Reporting Information [Line Items]
Cost incurred to date	$ 72

Segment Information - Consolida

Segment Information - Consolidated Revenue Information by Geographic Area (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Revenue	$ 1,494	$ 1,381	$ 2,964	$ 2,903
United States
Segment Reporting Information [Line Items]
Revenue	782	723	1,552	1,546
Non-U.S.
Segment Reporting Information [Line Items]
Revenue	712	658	1,412	1,357
EMEA
Segment Reporting Information [Line Items]
Revenue	470	422	921	878
Asia-Pacific
Segment Reporting Information [Line Items]
Revenue	146	151	297	293
Americas
Segment Reporting Information [Line Items]
Revenue	$ 96	$ 85	$ 194	$ 186

Subsequent Event - Additional I

Subsequent Event - Additional Information (Detail) - Subsequent Event	Jul. 24, 2023 $ / shares
Subsequent Event [Line Items]
Dividend declared, declaration date	Jul. 24, 2023
Dividend declared, per share (in USD per share)	$ 0.77
Dividend declared, payable date	Sep. 08, 2023
Dividend declared, record date	Aug. 18, 2023