Moody's (MCO) 10-Q 26 Oct 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page shares in Millions	9 Months Ended
	Sep. 30, 2023 shares
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 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
Entity Central Index Key	0001059556
Document Fiscal Period Focus	Q3
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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenue	$ 1,472	$ 1,275	$ 4,436	$ 4,178
Expenses
Operating	412	393	1,266	1,203
Selling, general, and administrative	403	385	1,204	1,124
Depreciation and amortization	95	83	276	242
Restructuring	27	1	51	32
Total expenses	937	862	2,797	2,601
Operating income	535	413	1,639	1,577
Non-operating (expense) income, net
Interest expense, net	(66)	(58)	(185)	(166)
Other non-operating income, net	18	26	31	22
Total non-operating (expense) income, net	(48)	(32)	(154)	(144)
Income before provision for income taxes	487	381	1,485	1,433
Provision for income taxes	97	78	217	305
Net Income	390	303	1,268	1,128
Less: Net income attributable to noncontrolling interests	1	0	1	0
Net income (loss) attributable to parent	$ 389	$ 303	$ 1,267	$ 1,128
Earnings per share attributable to Moody's common shareholders
Basic (in usd per share)	$ 2.12	$ 1.65	$ 6.91	$ 6.13
Diluted (in usd per share)	$ 2.11	$ 1.65	$ 6.88	$ 6.10
Weighted average number of shares outstanding
Basic (in shares)	183.3	183.2	183.4	184.1
Diluted (in shares)	184	183.9	184.1	184.9

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net Income	$ 390	$ 303	$ 1,268	$ 1,128
Other Comprehensive Income (Loss):
Foreign currency translation adjustments - Pre Tax	(174)	(358)	(14)	(806)
Foreign currency translation adjustments - Tax	(2)	6	(4)	10
Foreign currency translation adjustments - Net of Tax	(176)	(352)	(18)	(796)
Foreign currency translation adjustments - reclassification of losses included in net income - Pre tax			0	20
Foreign currency translation adjustments - reclassification of losses included in net income, Tax			0	0
Foreign currency translation adjustments - reclassification of losses included in net income, Net of Tax			0	(20)
Net gains on net investment hedges - Pre Tax	124	256	11	561
Net gains on net investment hedges - Tax	(31)	(63)	(3)	(140)
Net gains on net investment hedges - Net of Tax	93	193	8	421
Cash Flow Hedges:
Reclassification of losses included in net income - Pre Tax	1	1	2	2
Reclassification of losses included in net income - Tax	0	(1)	(1)	(1)
Reclassification of losses included in net income - Net of Tax	1	0	1	1
Pension and Other Retirement Benefits:
Amortization of actuarial gains/prior service credits and settlement charge included in net income - Pre Tax	(1)	1	(3)	2
Amortization of actuarial gains/prior service credits and settlement charge included in net income - Tax	0	0	1	0
Amortization of actuarial gains/prior service credits and settlement charge included in net income - Net of tax	(1)	1	(2)	2
Net actuarial and prior service costs - Pre Tax	2	0	2	3
Net actuarial and prior service costs - Tax	(1)	0	(1)	(1)
Net actuarial and prior service costs - Net of Tax	1	0	1	2
Total other comprehensive loss - Pre Tax	(48)	(100)	(2)	(218)
Total other comprehensive loss - Tax	(34)	(58)	(8)	(132)
Total other comprehensive loss - Net of Tax	(82)	(158)	(10)	(350)
Comprehensive income	308	145	1,258	778
Less: comprehensive income (loss) attributable to noncontrolling interests	0	(9)	(1)	(12)
Comprehensive Income Attributable to Moody's	$ 308	$ 154	$ 1,259	$ 790

CONSOLIDATED BALANCE SHEETS (UN

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 2,006	$ 1,769
Short-term investments	73	90
Accounts receivable, net of allowance for credit losses of $34 in 2023 and $40 in 2022	1,513	1,652
Other current assets	445	583
Total current assets	4,037	4,094
Property and equipment, net of accumulated depreciation of $1,234 in 2023 and $1,123 in 2022	573	502
Operating lease right-of-use assets	298	346
Goodwill	5,831	5,839
Intangible assets, net	2,058	2,210
Deferred tax assets, net	264	266
Other assets	1,130	1,092
Total assets	14,191	14,349
Current liabilities:
Accounts payable and accrued liabilities	938	1,011
Current portion of operating lease liabilities	105	106
Deferred revenue	1,226	1,258
Total current liabilities	2,269	2,375
Non-current portion of deferred revenue	65	75
Long-term debt	6,851	7,389
Deferred tax liabilities, net	483	457
Uncertain tax positions	208	322
Operating lease liabilities	316	368
Other liabilities	647	674
Total liabilities	10,839	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	1,175	1,054
Retained earnings	14,460	13,618
Treasury stock, at cost; 159,895,591 and 159,702,362 shares of common stock at September 30, 2023 and December 31, 2022, respectively	(11,795)	(11,513)
Accumulated other comprehensive loss	(652)	(643)
Total Moody's shareholders' equity	3,191	2,519
Noncontrolling interests	161	170
Total shareholders' equity	3,352	2,689
Total liabilities, noncontrolling interests, and shareholders' equity	14,191	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	Sep. 30, 2023	Dec. 31, 2022
Accounts receivable, allowances	$ 34	$ 40
Accumulated depreciation, property and equipment	$ 1,234	$ 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)	159,895,591	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	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities
Net Income	$ 1,268	$ 1,128
Reconciliation of net income to net cash provided by operating activities:
Depreciation and amortization	276	242
Stock-based compensation	143	130
Deferred income taxes	(10)	58
ROU Asset impairment & other non-cash restructuring/impairment charges	12	0
FX translation losses reclassified to net income	0	20
Changes in assets and liabilities:
Accounts receivable	127	123
Other current assets	151	(140)
Other assets	(31)	10
Lease obligations	(16)	(14)
Accounts payable and accrued liabilities	(61)	(358)
Deferred revenue	(35)	(20)
Uncertain tax positions	(114)	(41)
Other liabilities	(36)	(41)
Net cash provided by operating activities	1,674	1,097
Cash flows from investing activities
Capital additions	(198)	(204)
Purchases of investments	(108)	(244)
Sales and maturities of investments	116	153
Receipts from settlements of net investment hedges	0	220
Cash paid for acquisitions, net of cash acquired	(3)	(97)
Net cash used in investing activities	(193)	(172)
Cash flows from financing activities
Repayment of notes	(500)	(500)
Issuance of notes	0	988
Proceeds from stock-based compensation plans	40	21
Treasury shares	(278)	(983)
Repurchase of shares related to stock-based compensation	(67)	(85)
Dividends	(424)	(387)
Dividends to noncontrolling interest	(2)	(1)
Debt issuance costs and related fees	0	(10)
Net cash used in financing activities	(1,231)	(957)
Effect of exchange rate changes on cash and cash equivalents	(13)	(123)
Increase (decrease) in cash and cash equivalents	237	(155)
Cash and cash equivalents, beginning of period	1,769	1,811
Cash and cash equivalents, end of period	$ 2,006	$ 1,656

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		1,128	1,128			1,128			0
Dividends		(391)	(389)			(389)			(2)
Stock-based compensation		130	130		130
Shares issued for stock-based compensation plans at average cost, net		(64)	(64)		(34)		$ (30)
Shares issued for stock-based compensation plans at average cost, net (in shares)							600,000
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		(983)	(983)		(3)		$ (980)
Treasury shares repurchased (in shares)							(3,100,000)
Currency translation adjustment, net of net investment hedge activity (net of tax)		(355)	(343)					(343)	(12)
Net actuarial gains and prior service cost (net of tax)		2	2					2
Amortization of prior service credits/ actuarial gains and settlement credit		2	2					2
Net realized and unrealized gain on cash flow hedges		1	1					1
Common stock, shares issued ending balance (in shares) at Sep. 30, 2022				342,900,000
Treasury stock, common, ending balance (shares) at Sep. 30, 2022							(159,700,000)
Ending Balance at Sep. 30, 2022		2,430	2,255	$ 3	1,013	13,501	$ (11,514)	(748)	175
Common stock, shares issued beginning balance (in shares) at Jun. 30, 2022				342,900,000
Treasury stock, common, beginning balance (shares) at Jun. 30, 2022							(159,400,000)
Beginning Balance at Jun. 30, 2022		2,479	2,294	$ 3	965	13,328	$ (11,403)	(599)	185
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income		303	303			303			0
Dividends		(131)	(130)			(130)			(1)
Stock-based compensation		46	46		46
Shares issued for stock-based compensation plans at average cost, net		3	3		2		$ 1
Shares issued for stock-based compensation plans at average cost, net (in shares)							100,000
Treasury shares repurchased		(112)	(112)		0		$ (112)
Treasury shares repurchased (in shares)							(400,000)
Currency translation adjustment, net of net investment hedge activity (net of tax)		(159)	(150)					(150)	(9)
Net actuarial gains and prior service cost (net of tax)		0
Amortization of prior service credits/ actuarial gains and settlement credit		1	1					1
Common stock, shares issued ending balance (in shares) at Sep. 30, 2022				342,900,000
Treasury stock, common, ending balance (shares) at Sep. 30, 2022							(159,700,000)
Ending Balance at Sep. 30, 2022		$ 2,430	2,255	$ 3	1,013	13,501	$ (11,514)	(748)	175
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		1,268	1,267			1,267			1
Dividends		(434)	(425)			(425)			(9)
Stock-based compensation		143	143		143
Shares issued for stock-based compensation plans at average cost, net		(24)	(24)		(22)		$ (2)
Shares issued for stock-based compensation plans at average cost, net (in shares)							700,000
Treasury shares repurchased		(280)	(280)		0		$ (280)
Treasury shares repurchased (in shares)							(900,000)
Currency translation adjustment, net of net investment hedge activity (net of tax)		(10)	(9)					(9)	(1)
Net actuarial gains and prior service cost (net of tax)		1	1					1
Amortization of prior service credits/ actuarial gains and settlement credit		(2)	(2)					(2)
Net realized and unrealized gain on cash flow hedges		$ 1	1					1
Common stock, shares issued ending balance (in shares) at Sep. 30, 2023				342,900,000
Treasury stock, common, ending balance (shares) at Sep. 30, 2023		(159,895,591)					(159,900,000)
Ending Balance at Sep. 30, 2023		$ 3,352	3,191	$ 3	1,175	14,460	$ (11,795)	(652)	161
Common stock, shares issued beginning balance (in shares) at Jun. 30, 2023				342,900,000
Treasury stock, common, beginning balance (shares) at Jun. 30, 2023							(159,400,000)
Beginning Balance at Jun. 30, 2023		3,312	3,144	$ 3	1,124	14,213	$ (11,626)	(570)	168
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income		390	389			389			1
Dividends		(150)	(142)			(142)			(8)
Stock-based compensation		46	46		46
Shares issued for stock-based compensation plans at average cost, net		7	7		5		$ 2
Shares issued for stock-based compensation plans at average cost, net (in shares)							0
Treasury shares repurchased		(171)	(171)				$ (171)
Treasury shares repurchased (in shares)							(500,000)
Currency translation adjustment, net of net investment hedge activity (net of tax)		(83)	(83)					(83)	0
Net actuarial gains and prior service cost (net of tax)		1	1					1
Amortization of prior service credits/ actuarial gains and settlement credit		(1)	(1)					(1)
Net realized and unrealized gain on cash flow hedges		$ 1	1					1
Common stock, shares issued ending balance (in shares) at Sep. 30, 2023				342,900,000
Treasury stock, common, ending balance (shares) at Sep. 30, 2023		(159,895,591)					(159,900,000)
Ending Balance at Sep. 30, 2023		$ 3,352	$ 3,191	$ 3	$ 1,175	$ 14,460	$ (11,795)	$ (652)	$ 161
[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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Stockholders' Equity [Abstract]
Dividends (in usd per share)	$ 0.77	$ 0.70	$ 2.31	$ 2.10
Currency translation adjustment, net of net investment hedge activity, tax expense (benefit)	$ 33	$ 57	$ 7	$ 130
Net actuarial gains and prior service cost, tax expense (benefit)	1	0	1	1
Amortization of prior service costs and actuarial losses, tax expense (benefit)	$ 0	$ 0	1	$ 0
Net losses on cash flow hedges - Tax			$ 1

DESCRIPTION OF BUSINESS AND BAS

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	9 Months Ended
	Sep. 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 GAAP. 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 GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from 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	9 Months Ended
	Sep. 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 September 30, Nine Months Ended 2023 2022 2023 2022 MA: Decision Solutions (DS) Banking $ 136 $ 115 $ 390 $ 355 Insurance 138 129 404 370 KYC 80 64 228 191 Total DS 354 308 1,022 916 Research and Insights (R&I) 222 201 654 607 Data and Information (D&I) 200 176 584 532 Total external revenue 776 685 2,260 2,055 Intersegment revenue 3 2 10 5 Total MA 779 687 2,270 2,060 MIS: Corporate Finance (CFG) Investment-grade 63 67 272 249 High-yield 38 21 116 91 Bank loans 82 47 209 232 Other accounts (1) 163 142 470 444 Total CFG 346 277 1,067 1,016 Structured Finance (SFG) Asset-backed securities 30 26 89 89 RMBS 22 22 72 85 CMBS 17 19 45 84 Structured credit 32 34 95 109 Other accounts 1 — 2 1 Total SFG 102 101 303 368 Financial Institutions (FIG) Banking 92 76 289 258 Insurance 24 24 92 82 Managed investments 7 6 23 19 Other accounts 3 3 9 9 Total FIG 126 109 413 368 Public, Project and Infrastructure Finance (PPIF) Public finance / sovereign 49 44 155 157 Project and infrastructure 66 48 216 180 Total PPIF 115 92 371 337 Total ratings revenue 689 579 2,154 2,089 MIS Other 7 11 22 34 Total external revenue 696 590 2,176 2,123 Intersegment revenue 47 43 138 129 Total MIS 743 633 2,314 2,252 Eliminations (50) (45) (148) (134) Total MCO $ 1,472 $ 1,275 $ 4,436 $ 4,178 (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 September 30, 2023 Three Months Ended September 30, 2022 U.S. Non-U.S Total U.S. Non-U.S Total MA: Decision Solutions $ 147 $ 207 $ 354 $ 123 $ 185 $ 308 Research and Insights 124 98 222 120 81 201 Data and Information 69 131 200 63 113 176 Total MA 340 436 776 306 379 685 MIS: Corporate Finance 242 104 346 188 89 277 Structured Finance 65 37 102 69 32 101 Financial Institutions 52 74 126 47 62 109 Public, Project and Infrastructure Finance 69 46 115 57 35 92 Total ratings revenue 428 261 689 361 218 579 MIS Other — 7 7 1 10 11 Total MIS 428 268 696 362 228 590 Total MCO $ 768 $ 704 $ 1,472 $ 668 $ 607 $ 1,275 Nine Months Ended September 30, 2023 Nine Months Ended September 30, 2022 U.S. Non-U.S Total U.S. Non-U.S Total MA: Decision Solutions $ 426 $ 596 $ 1,022 $ 376 $ 540 $ 916 Research and Insights 361 293 654 352 255 607 Data and Information 204 380 584 185 347 532 Total MA 991 1,269 2,260 913 1,142 2,055 MIS: Corporate Finance 727 340 1,067 673 343 1,016 Structured Finance 186 117 303 249 119 368 Financial Institutions 188 225 413 165 203 368 Public, Project and Infrastructure Finance 228 143 371 210 127 337 Total ratings revenue 1,329 825 2,154 1,297 792 2,089 MIS Other — 22 22 4 30 34 Total MIS 1,329 847 2,176 1,301 822 2,123 Total MCO $ 2,320 $ 2,116 $ 4,436 $ 2,214 $ 1,964 $ 4,178 The following table presents the Company’s reportable segment revenues disaggregated by segment and geographic region: Three Months Ended September 30, Nine Months Ended 2023 2022 2023 2022 MA: U.S. $ 340 $ 306 $ 991 $ 913 Non-U.S.: EMEA 300 254 867 774 Asia-Pacific 78 72 229 211 Americas 58 53 173 157 Total Non-U.S. 436 379 1,269 1,142 Total MA 776 685 2,260 2,055 MIS: U.S. 428 362 1,329 1,301 Non-U.S.: EMEA 155 139 509 497 Asia-Pacific 67 57 213 211 Americas 46 32 125 114 Total Non-U.S. 268 228 847 822 Total MIS 696 590 2,176 2,123 Total MCO $ 1,472 $ 1,275 $ 4,436 $ 4,178 The following tables summarize the split between Transaction Revenue and Recurring Revenue. Three Months Ended September 30, 2023 2022 Transaction Recurring Total Transaction Recurring Total Decision Solutions $ 43 $ 311 $ 354 $ 34 $ 274 $ 308 12 % 88 % 100 % 11 % 89 % 100 % Research and Insights $ 4 $ 218 $ 222 $ 4 $ 197 $ 201 2 % 98 % 100 % 2 % 98 % 100 % Data and Information $ 1 $ 199 $ 200 $ — $ 176 $ 176 1 % 99 % 100 % — % 100 % 100 % Total MA $ 48 (1) $ 728 $ 776 $ 38 $ 647 $ 685 6 % 94 % 100 % 6 % 94 % 100 % Corporate Finance $ 216 $ 130 $ 346 $ 153 $ 124 $ 277 62 % 38 % 100 % 55 % 45 % 100 % Structured Finance $ 48 $ 54 $ 102 $ 51 $ 50 $ 101 47 % 53 % 100 % 50 % 50 % 100 % Financial Institutions $ 52 $ 74 $ 126 $ 41 $ 68 $ 109 41 % 59 % 100 % 38 % 62 % 100 % Public, Project and Infrastructure Finance $ 71 $ 44 $ 115 $ 50 $ 42 $ 92 62 % 38 % 100 % 54 % 46 % 100 % MIS Other $ 1 $ 6 $ 7 $ 1 $ 10 $ 11 14 % 86 % 100 % 9 % 91 % 100 % Total MIS $ 388 $ 308 $ 696 $ 296 $ 294 $ 590 56 % 44 % 100 % 50 % 50 % 100 % Total Moody's Corporation $ 436 $ 1,036 $ 1,472 $ 334 $ 941 $ 1,275 30 % 70 % 100 % 26 % 74 % 100 % Nine Months Ended September 30, 2023 2022 Transaction Recurring Total Transaction Recurring Total Decision Solutions $ 126 $ 896 $ 1,022 $ 112 $ 804 $ 916 12 % 88 % 100 % 12 % 88 % 100 % Research and Insights $ 12 $ 642 $ 654 $ 12 $ 595 $ 607 2 % 98 % 100 % 2 % 98 % 100 % Data and Information $ 2 $ 582 $ 584 $ — $ 532 $ 532 — % 100 % 100 % — % 100 % 100 % Total MA $ 140 (1) $ 2,120 $ 2,260 $ 124 $ 1,931 $ 2,055 6 % 94 % 100 % 6 % 94 % 100 % Corporate Finance $ 682 $ 385 $ 1,067 $ 645 $ 371 $ 1,016 64 % 36 % 100 % 63 % 37 % 100 % Structured Finance $ 142 $ 161 $ 303 $ 217 $ 151 $ 368 47 % 53 % 100 % 59 % 41 % 100 % Financial Institutions $ 195 $ 218 $ 413 $ 159 $ 209 $ 368 47 % 53 % 100 % 43 % 57 % 100 % Public, Project and Infrastructure Finance $ 240 $ 131 $ 371 $ 211 $ 126 $ 337 65 % 35 % 100 % 63 % 37 % 100 % MIS Other $ 4 $ 18 $ 22 $ 3 $ 31 $ 34 18 % 82 % 100 % 9 % 91 % 100 % Total MIS $ 1,263 $ 913 $ 2,176 $ 1,235 $ 888 $ 2,123 58 % 42 % 100 % 58 % 42 % 100 % Total Moody's Corporation $ 1,403 $ 3,033 $ 4,436 $ 1,359 $ 2,819 $ 4,178 32 % 68 % 100 % 33 % 67 % 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 September 30, 2023 Nine Months Ended September 30, 2023 MA MIS Total MA MIS Total Revenue recognized at a point in time $ 24 $ 388 $ 412 $ 73 $ 1,263 $ 1,336 Revenue recognized over time 752 308 1,060 2,187 913 3,100 Total $ 776 $ 696 $ 1,472 $ 2,260 $ 2,176 $ 4,436 Three Months Ended September 30, 2022 Nine Months Ended September 30, 2022 MA MIS Total MA MIS Total Revenue recognized at a point in time $ 20 $ 296 $ 316 $ 77 $ 1,235 $ 1,312 Revenue recognized over time 665 294 959 1,978 888 2,866 Total $ 685 $ 590 $ 1,275 $ 2,055 $ 2,123 $ 4,178 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 September 30, 2023 and December 31, 2022: As of September 30, 2023 As of December 31, 2022 MA MIS MA MIS Unbilled Receivables $ 119 $ 429 $ 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 nine months ended September 30, 2023 and 2022 are as follows: Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 MA MIS Total MA MIS Total Balance at June 30, $ 1,116 $ 336 $ 1,452 $ 1,019 $ 347 $ 1,366 Changes in deferred revenue Revenue recognized that was included in the deferred revenue balance at the beginning of the period (513) (113) (626) (480) (110) (590) Increases due to amounts billable excluding amounts recognized as revenue during the period 410 82 492 389 82 471 Effect of exchange rate changes (25) (2) (27) (9) (5) (14) Total changes in deferred revenue (128) (33) (161) (100) (33) (133) Balance at September 30, $ 988 $ 303 $ 1,291 $ 919 $ 314 $ 1,233 Nine Months Ended September 30, 2023 Nine Months Ended September 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 (969) (192) (1,161) (883) (186) (1,069) Increases due to amounts billable excluding amounts recognized as revenue during the period 908 218 1,126 819 218 1,037 Increases due to acquisitions during the period — — — 1 — 1 Effect of exchange rate changes (6) (1) (7) (57) (14) (71) Total changes in deferred revenue (67) 25 (42) (120) 18 (102) Balance at September 30, $ 988 $ 303 $ 1,291 $ 919 $ 314 $ 1,233 Deferred revenue - current $ 986 $ 240 $ 1,226 $ 917 $ 238 $ 1,155 Deferred revenue - non-current $ 2 $ 63 $ 65 $ 2 $ 76 $ 78 For the MA segment, the decrease in deferred revenue for the three months ended September 30, 2023 was primarily due to the recognition of annual subscription and maintenance billings from December 2022 and January 2023. For the nine months ended September 30, 2023, the decrease in the deferred revenue balance is attributable to recognition of revenues related to the aforementioned December 2022 billings and unfavorable changes in FX translation rates being mostly offset by the impact of the high concentration of billings in the first quarter of 2023. For the MIS segment, the changes in the deferred revenue balance during the three and nine months ended September 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 September 30, 2023 as well as amounts not yet invoiced to customers as of September 30, 2023, largely reflecting future revenue related to signed multi-year arrangements for hosted and installed subscription-based products. As of September 30, 2023, the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $3.1 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 September 30, 2023, the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $91 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	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Stock-based compensation cost $ 46 $ 46 $ 143 $ 130 Tax benefit $ 10 $ 10 $ 32 $ 30 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 nine months of 2023, the Company granted 0.1 million employee stock options, which had a weighted average grant date fair value of $95.66 per share. The Company also granted 0.6 million shares of restricted stock in the first nine months of 2023, which had a weighted average grant date fair value of $296.05 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 $287.70 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 September 30, 2023 was $12 million and $261 million for unvested stock options and restricted stock, respectively, which is expected to be recognized over a weighted average period of 1.9 years and 2.5 years, respectively. Additionally, there was $29 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 2.1 years. The following table summarizes information relating to stock option exercises and restricted stock vesting: Nine Months Ended 2023 2022 Exercise of stock options: Proceeds from stock option exercises $ 26 $ 6 Aggregate intrinsic value $ 48 $ 7 Tax benefit realized upon exercise $ 11 $ 2 Number of shares exercised (1) 0.2 — Vesting of restricted stock: Fair value of shares vested $ 154 $ 174 Tax benefit realized upon vesting $ 36 $ 41 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	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Moody’s ETR was 19.9% and 20.5% for the three months ended September 30, 2023 and 2022, respectively; the difference was primarily driven by return-to-accrual adjustments recorded during the current period. Furthermore, Moody’s ETR for the nine months ended September 30, 2023 and 2022 was 14.6% and 21.3%, respectively. The 6.7% decrease in the ETR for the nine months ended September 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 UTPs 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) benefits of $116 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. The Company had an increase in its UTPs of $5 million ($4 million, net of federal tax) during the third quarter of 2023 and a decrease in its UTPs of $114 million ($115 million, net of federal tax) during the nine months of 2023. Moody’s is 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 through 2022 remain 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: Nine Months Ended September 30, 2023 2022 Income taxes paid $ 213 $ 394 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	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Basic 183.3 183.2 183.4 184.1 Dilutive effect of shares issuable under stock-based compensation plans 0.7 0.7 0.7 0.8 Diluted 184.0 183.9 184.1 184.9 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 0.5 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 September 30, 2023 and 2022.

ACCELERATED SHARE REPURCHASE PR

ACCELERATED SHARE REPURCHASE PROGRAM	9 Months Ended
	Sep. 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	9 Months Ended
	Sep. 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 September 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) $ 1,039 $ — $ 1,039 $ 961 $ 73 $ 5 Mutual funds $ 88 $ 5 $ 93 $ — $ — $ 93 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 September 30, 2023 and December 31, 2022. The remaining contractual maturities for the certificates of deposits classified in other assets are 13 months to 15 months at September 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 September 30, 2023 and December 31, 2022, the contract value of the COLI was $46 million and $40 million, respectively.

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	9 Months Ended
	Sep. 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 September 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Interest expense, net $ (66) $ (58) $ (185) $ (166) Descriptions Location on Consolidated Statements of Operations Net interest settlements and accruals on interest rate swaps Interest expense, net $ (25) $ (4) $ (64) $ 5 Fair value changes on interest rate swaps Interest expense, net $ (35) $ (95) $ (35) $ (227) Fair value changes on hedged debt Interest expense, net $ 35 $ 95 $ 35 $ 227 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: September 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 September 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 September 30, Three Months Ended September 30, Three Months Ended September 30, 2023 2022 2023 2022 2023 2022 Cross currency swaps $ 63 $ 131 $ — $ — $ 13 $ 17 Long-term debt 30 62 — — — — Total net investment hedges $ 93 $ 193 $ — $ — $ 13 $ 17 Derivatives in Cash Flow Hedging Relationships Interest rate contracts $ — $ — $ (1) $ — $ — $ — Total cash flow hedges $ — $ — $ (1) $ — $ — $ — Total $ 93 $ 193 $ (1) $ — $ 13 $ 17 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) Nine Months Ended September 30, Nine Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 2023 2022 Cross currency swaps $ — $ 273 $ — $ — $ 43 $ 38 Long-term debt 8 148 — — — — Total net investment hedges $ 8 $ 421 $ — $ — $ 43 $ 38 Derivatives in Cash Flow Hedging Relationships Cross currency swaps $ — $ — $ 1 $ — $ — $ — Interest rate contracts — — (2) (1) — — Total cash flow hedges $ — $ — $ (1) $ (1) $ — $ — Total $ 8 $ 421 $ (1) $ (1) $ 43 $ 38 The cumulative amount of net investment hedge and cash flow hedge gains (losses) remaining in AOCL is as follows: Cumulative Gains/(Losses), net of tax September 30, 2023 December 31, 2022 Net investment hedges Cross currency swaps $ 118 $ 118 FX forwards 29 29 Long-term debt 46 38 Total net investment hedges $ 193 $ 185 Cash flow hedges Interest rate contracts $ (45) $ (47) Cross currency swaps 1 2 Total cash flow hedges (44) (45) Total net gain in AOCL $ 149 $ 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, 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 August 2024. The following table summarizes the notional amounts of the Company’s outstanding foreign exchange forwards: September 30, 2023 December 31, 2022 Notional amount of currency pair: Sell Buy Sell Buy Contracts to sell USD for GBP $ 486 £ 378 $ 170 £ 146 Contracts to sell USD for Japanese yen $ 15 ¥ 2,000 $ 24 ¥ 3,500 Contracts to sell USD for Canadian dollars $ 146 C$ 195 $ 87 C$ 120 Contracts to sell USD for Singapore dollars $ 61 S$ 82 $ 50 S$ 70 Contracts to sell USD for euros $ 98 € 90 $ 116 € 115 Contracts to sell USD for Indian rupee $ 23 ₹ 1,900 $ 19 ₹ 1,600 Contracts to sell euros for USD € — $ — € 85 $ 89 Contracts to sell AUD for USD A$ 5 $ 8 A$ — $ — NOTE: € = euro, £ = British pound, S$ = Singapore dollar, $ = U.S. dollar, ¥ = Japanese yen, C$ = Canadian dollar, ₹= Indian Rupee, A$ = Australian dollar 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 September 30, 2023 and related gains in the three and nine months ended September 30, 2023 were not material. The notional amount of the total return swaps as of September 30, 2023 was $52 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 FX forwards Other non-operating income, net $ (25) $ (46) $ (10) $ (103) The table below shows the classification between assets and liabilities on the Company’s consolidated balance sheets for the fair value of the derivative instrument as well as the carrying value of its non-derivative debt instruments designated and qualifying as net investment hedges: Derivative and Non-Derivative Instruments Balance Sheet Location September 30, 2023 December 31, 2022 Assets: Derivatives designated as accounting hedges: Cross-currency swaps designated as net investment hedges Other assets $ 27 $ 27 Derivatives not designated as accounting hedges: FX forwards on certain assets and liabilities Other current assets — 19 Total assets $ 27 $ 46 Liabilities: Derivatives designated as accounting hedges: Cross-currency swaps designated as net investment hedges Other liabilities $ 78 $ 78 Interest rate swaps designated as fair value hedges Other liabilities 273 239 Total derivatives designated as accounting hedges 351 317 Non-derivatives designated as accounting hedges: Long-term debt designated as net investment hedge Long-term debt 1,323 1,334 Derivatives not designated as accounting hedges: FX forwards on certain assets and liabilities Accounts payable and accrued liabilities 32 2 Total liabilities $ 1,706 $ 1,653

GOODWILL AND OTHER ACQUIRED INT

GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS	9 Months Ended
	Sep. 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: Nine Months Ended September 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 (9) — (9) (2) — (2) (11) — (11) Ending balance $ 5,555 $ (12) $ 5,543 $ 288 $ — $ 288 $ 5,843 $ (12) $ 5,831 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: September 30, December 31, Customer relationships $ 2,021 $ 2,024 Accumulated amortization (520) (453) Net customer relationships 1,501 1,571 Software/product technology 659 661 Accumulated amortization (338) (283) Net software/product technology 321 378 Database 178 178 Accumulated amortization (78) (64) Net database 100 114 Trade names 196 197 Accumulated amortization (68) (58) Net trade names 128 139 Other (1) 52 52 Accumulated amortization (44) (44) Net other 8 8 Total acquired intangible assets, net $ 2,058 $ 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 September 30, Nine Months Ended 2023 2022 2023 2022 Amortization expense $ 49 $ 48 $ 150 $ 150

RESTRUCTURING

RESTRUCTURING	9 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
RESTRUCTURING	RESTRUCTURING On June 30, 2022, the chief executive officer of Moody’s approved the 2022 - 2023 Geolocation Restructuring Program. T he Company estimates that the program will result in annualized savings of $145 million to $165 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 $55 million to $65 million of total 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 a total of $130 million to $140 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 $130 million to $140 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: Three months ended September 30, 2023 2022 Employee Termination Costs Real Estate Related Costs (1) Total Employee Termination Costs (1) Real Estate Related Costs Total 2022 - 2023 Geolocation Restructuring Program $ 17 $ 10 $ 27 $ 1 $ — $ 1 Total Restructuring $ 17 $ 10 $ 27 $ 1 $ — $ 1 Nine months ended September 30, 2023 2022 Employee Termination Costs Real Estate Related Costs (1) Total Employee Termination Costs Real Estate Related Costs Total 2020 MA Strategic Reorganization Restructuring Program $ — $ — $ — $ (1) $ — $ (1) 2022 - 2023 Geolocation Restructuring Program 39 12 51 33 — 33 Total Restructuring $ 39 $ 12 $ 51 $ 32 $ — $ 32 (1) Primarily includes ROU Asset impairment charges for the three and nine months ended September 30, 2023. The fair value of the impaired asset was determined by utilizing the present value of the estimated future cash flows attributable to the asset. The fair value of the asset subsequent to the impairment was $4 million. Changes to the restructuring liability for the aforementioned restructuring programs during the first nine months of 2023 were as follows: Balance as of December 31, 2022 $ 65 2022 - 2023 Geolocation Restructuring Program: Cost incurred and adjustments 39 Cash payments and adjustments (70) Balance as of September 30, 2023 $ 34 Cumulative expense incurred through September 30, 2023 Employee Real Estate Related Other Costs Total 2022 - 2023 Geolocation Restructuring Program $ 124 $ 39 $ 1 $ 164

FAIR VALUE

FAIR VALUE	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE	FAIR VALUE The table below presents information about items that are carried at fair value at September 30, 2023 and December 31, 2022: Fair Value Measurement as of September 30, 2023 Description Balance Level 1 Level 2 Assets: Derivatives (1) $ 27 $ — $ 27 Money market funds/mutual funds 107 107 — Total $ 134 $ 107 $ 27 Liabilities: Derivatives (1) $ 383 $ — $ 383 Total $ 383 $ — $ 383 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 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 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	9 Months Ended
	Sep. 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: September 30, 2023 December 31, 2022 Other current assets: Prepaid taxes $ 125 $ 235 Prepaid expenses 137 119 Capitalized costs to obtain and fulfill sales contracts 107 106 Foreign exchange forwards on certain assets and liabilities — 19 Interest receivable on interest rate and cross currency swaps 50 74 Other 26 30 Total other current assets $ 445 $ 583 Other assets: Investments in non-consolidated affiliates $ 521 $ 517 Deposits for real-estate leases 14 15 Indemnification assets related to acquisitions 109 110 Mutual funds and fixed deposits 98 87 Company owned life insurance (at contract value) 46 40 Costs to obtain sales contracts 178 171 Derivative instruments designated as accounting hedges 27 27 Pension and other retirement employee benefits 40 40 Other 97 85 Total other assets $ 1,130 $ 1,092 Accounts payable and accrued liabilities: Salaries and benefits $ 108 $ 104 Incentive compensation 244 276 Customer credits, advanced payments and advanced billings 89 102 Dividends 20 6 Professional service fees 58 49 Accrued interest 47 93 Accounts payable 41 52 Income taxes 96 86 Pension and other retirement employee benefits 7 7 Accrued royalties 22 23 Foreign exchange forwards on certain assets and liabilities 32 2 Restructuring liability 34 65 Interest payable on interest rate and cross currency swaps 50 51 Other 90 95 Total accounts payable and accrued liabilities $ 938 $ 1,011 September 30, 2023 December 31, 2022 Other liabilities: Pension and other retirement employee benefits $ 180 $ 189 Interest accrued on UTPs 34 47 MAKS indemnification provisions 19 23 Income tax liability - non-current portion 15 48 Derivative instruments designated as accounting hedges 351 317 Other 48 50 Total other liabilities $ 647 $ 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: September 30, 2023 December 31, 2022 Equity method investments (1) $ 189 $ 187 Investments measured using the measurement alternative (2) 325 325 Other 7 5 Total investments in non-consolidated affiliates $ 521 $ 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, net, are disclosed within the table below. Other non-operating income, net: The following table summarizes the components of other non-operating income, net: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 FX gain (loss) (1) $ 2 $ 13 $ (29) $ (9) Net periodic pension costs - other components 8 6 26 18 Income from investments in non-consolidated affiliates 9 10 12 14 Gain (loss) on investments — (3) 11 (19) Other (2) (1) — 11 18 Total $ 18 $ 26 $ 31 $ 22 (1) The amount for the nine months ended September 30, 2023 includes a $23 million loss recorded pursuant to an immaterial out-of-period adjustment relating to the 2022 fiscal year. The amount for the nine months ended September 30, 2022 includes 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 nine months ended September 30, 2023 reflects a benefit of $9 million related to the favorable resolutions of various tax matters. The amount for the nine months ended September 30, 2022 reflects 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	9 Months Ended
	Sep. 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 September 30, Location in the consolidated statements of operations Losses on cash flow hedges 2023 2022 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 gains/prior service credits and settlement credit included in net income 1 (1) Other non-operating income, net Total pension and other retirement benefits 1 (1) Total net losses included in Net Income attributable to reclassifications out of AOCL $ — $ (1) Nine Months Ended September 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 (2) (2) Other non-operating income, net Income tax effect of item above 1 1 Provision for income taxes Total net losses on cash flow hedges (1) (1) Pension and other retirement benefits Amortization of actuarial gains/prior service credits and settlement credit included in net income 3 (2) Other non-operating income, net Income tax effect of item above (1) — Provision for income taxes Total pension and other retirement benefits 2 (2) Total net gains (losses) included in Net Income attributable to reclassifications out of AOCL $ 1 $ (23) The following tables show changes in AOCL by component (net of tax): Three Months Ended September 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 June 30, $ (48) $ (45) $ (577) $ 100 $ (570) $ (46) $ (46) $ (756) $ 249 $ (599) Other comprehensive income/(loss) before reclassifications 1 — (176) 93 (82) — — (343) 193 (150) Amounts reclassified from AOCL (1) 1 — — — 1 — — — 1 Other comprehensive income/(loss) — 1 (176) 93 (82) 1 — (343) 193 (149) Balance at September 30, $ (48) $ (44) $ (753) $ 193 $ (652) $ (45) $ (46) $ (1,099) $ 442 $ (748) Nine Months Ended September 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 1 — (17) 8 (8) 2 — (784) 421 (361) Amounts reclassified from AOCL (2) 1 — — (1) 2 1 20 — 23 Other comprehensive income/(loss) (1) 1 (17) 8 (9) 4 1 (764) 421 (338) Balance at September 30, $ (48) $ (44) $ (753) $ 193 $ (652) $ (45) $ (46) $ (1,099) $ 442 $ (748)

INDEBTEDNESS

INDEBTEDNESS	9 Months Ended
	Sep. 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: September 30, 2023 Notes Payable: Principal Amount Fair Value of Interest Rate Swaps (1) Unamortized (Discount) Premium Unamortized Debt Issuance Costs Carrying Value 5.25% 2014 Senior Notes, due 2044 $ 600 $ (46) $ 3 $ (4) $ 553 1.75% 2015 Senior Notes, due 2027 529 — — (1) 528 3.25% 2017 Senior Notes, due 2028 500 (37) (2) (2) 459 4.25% 2018 Senior Notes, due 2029 400 (49) (2) (2) 347 4.875% 2018 Senior Notes, due 2048 400 (48) (6) (3) 343 0.950% 2019 Senior Notes, due 2030 794 — (2) (4) 788 3.75% 2020 Senior Notes, due 2025 700 (22) — (2) 676 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 — (6) (4) 590 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 (56) (8) (5) 431 4.25% 2022 Senior Notes, due 2032 500 (16) (2) (4) 478 Total long-term debt $ 7,223 $ (274) $ (51) $ (47) $ 6,851 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 tables above represents the cumulative amount of fair value hedging adjustments included in the carrying amount of the hedged debt. Notes Payable In the first nine months of 2023, the Company fully repaid $500 million of the 2013 Senior Notes due 202 4 . At September 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 September 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 September 30,) $ — 2024 — 2025 700 2026 — 2027 529 Thereafter 5,994 Total $ 7,223 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Income $ 19 $ 5 $ 44 $ 9 Expense on borrowings (1) (75) (54) (220) (152) Income (expense) on UTPs and other tax related liabilities (2) (4) (5) 10 (11) Net periodic pension costs - interest component (6) (4) (19) (12) Interest expense, net $ (66) $ (58) $ (185) $ (166) Interest paid (3) $ 87 $ 77 $ 230 $ 167 (1) Expense on borrowings includes interest on long-term debt, as well as realized gains/losses related to interest rate swaps and cross currency swaps, which are more fully discussed in Note 8. (2) The amount for the nine months ended September 30, 2023 reflects a $22 million reduction of tax-related interest expense primarily related to the resolutions of outstanding tax matters. (3) Interest paid includes net settlements on interest rate swaps, which are more fully discussed in Note 8. The fair value and carrying value of the Company’s debt as of September 30, 2023 and December 31, 2022 are as follows: September 30, 2023 December 31, 2022 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Total debt $ 6,851 $ 5,844 $ 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	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
LEASES	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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Operating lease cost $ 23 $ 25 $ 70 $ 77 Sublease income (1) (2) (5) (6) Variable lease cost 6 5 16 15 Total lease cost $ 28 $ 28 $ 81 $ 86 During the three and nine months ended September 30, 2023, the Company recorded charges of $10 million and $12 million, respectively, related to the exit of certain real estate leases. The charges were primarily related to ROU asset impairment and were recorded within restructuring expense in the consolidated statements of operations. Refer to Note 10 for further details. The following tables present other information related to the Company’s operating leases: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Cash paid for amounts included in the measurement of operating lease liabilities $ 30 $ 29 $ 90 $ 89 Right-of-use assets obtained in exchange for new operating lease liabilities $ 1 $ 1 $ 25 $ 31 September 30, 2023 September 30, 2022 Weighted-average remaining lease term 4.6 years 5.1 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 September 30, 2023: Year Ending December 31, Operating Leases 2023 (After September 30,) $ 29 2024 115 2025 103 2026 84 2027 68 After 2027 53 Total lease payments (undiscounted) 452 Less: Interest 31 Present value of lease liabilities: $ 421 Lease liabilities - current $ 105 Lease liabilities - noncurrent $ 316

CONTINGENCIES

CONTINGENCIES	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES Given the nature of the Company's activities, Moody’s is 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, in particular, 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. MIS is responding to SEC requests for documents and information in connection with an investigation of MIS’s compliance with record preservation requirements relating to certain business communications sent over electronic messaging channels that have not been approved by MIS. The SEC is conducting similar investigations of the record preservation practices of other NRSROs and other registrants subject to record preservation requirements. Moody’s also is subject to ongoing tax audits as addressed in Note 4 to the consolidated financial statements. Management periodically assesses the Company’s liabilities and contingencies in connection with these matters based upon the latest information available. For claims, litigation and proceedings and governmental investigations and inquiries not related to income taxes, the Company records liabilities in the consolidated financial statements when it is both probable that a liability has been incurred and the amount of loss can be reasonably estimated and periodically adjusts these as appropriate. When the reasonable estimate of the loss is within a range of amounts, the minimum amount of the range is accrued unless some higher amount within the range is a better estimate than another amount within the range. In instances when a loss is reasonably possible but uncertainties exist related to the probable outcome and/or the amount or range of loss, management does not record a liability but discloses the contingency if material. As additional information becomes available, the Company adjusts its assessments and estimates of such matters accordingly. Moody’s also discloses material pending legal proceedings pursuant to SEC rules and other pending matters as it may determine to be appropriate. In view of the inherent difficulty of assessing the potential outcome of legal proceedings, governmental, regulatory and legislative investigations and inquiries, claims and litigation and similar matters and contingencies, particularly when the claimants seek large or indeterminate damages or assert novel legal theories or the matters involve a large number of parties, the Company often cannot predict what the eventual outcome of the pending matters will be or the timing of any resolution of such matters. The Company also may be unable to predict the impact (if any) that any such matters may have on how its business is conducted, on its competitive position or on its financial position, results of operations or cash flows. As the process to resolve any pending matters progresses, management will continue to review the latest information available and assess its ability to predict the outcome of such matters and the effects, if any, on its operations and financial condition and to accrue for and disclose such matters as and when required. However, because such matters are inherently unpredictable and unfavorable developments or resolutions can occur, the ultimate outcome of such matters, including the amount of any loss, may differ from those estimates.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 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 September 30, 2023 2022 MA MIS Eliminations Consolidated MA MIS Eliminations Consolidated Total external revenue $ 776 $ 696 $ — $ 1,472 $ 685 $ 590 $ — $ 1,275 Intersegment revenue 3 47 (50) — 2 43 (45) — Revenue 779 743 (50) 1,472 687 633 (45) 1,275 Operating, SG&A 517 348 (50) 815 479 344 (45) 778 Adjusted Operating Income $ 262 $ 395 $ — $ 657 $ 208 $ 289 $ — $ 497 Add: Depreciation and 76 19 — 95 62 21 — 83 Restructuring 22 5 — 27 1 — — 1 Operating Income $ 535 $ 413 Nine Months Ended September 30, 2023 2022 MA MIS Eliminations Consolidated MA MIS Eliminations Consolidated Total external revenue $ 2,260 $ 2,176 $ — $ 4,436 $ 2,055 $ 2,123 $ — $ 4,178 Intersegment revenue 10 138 (148) — 5 129 (134) — Revenue 2,270 2,314 (148) 4,436 2,060 2,252 (134) 4,178 Operating, SG&A 1,584 1,034 (148) 2,470 1,423 1,038 (134) 2,327 Adjusted Operating Income $ 686 $ 1,280 $ — $ 1,966 $ 637 $ 1,214 $ — $ 1,851 Add: Depreciation and amortization 220 56 — 276 182 60 — 242 Restructuring 38 13 — 51 17 15 — 32 Operating Income $ 1,639 $ 1,577 The table below shows cumulative restructuring expense incurred through September 30, 2023 by reportable segment. MA MIS Total 2022 - 2023 Geolocation Restructuring Program $ 87 $ 77 $ 164 The costs expected to be incurred related to the 2022 - 2023 Geolocation Restructuring Program are $100 million - $110 million for the MA segment and $85 million - $95 million for the MIS segment. The restructuring program is more fully discussed in Note 10. Consolidated Revenue Information by Geographic Area Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 United States $ 768 $ 668 $ 2,320 $ 2,214 Non-U.S.: EMEA 455 393 1,376 1,271 Asia-Pacific 145 129 442 422 Americas 104 85 298 271 Total Non-U.S. 704 607 2,116 1,964 Total $ 1,472 $ 1,275 $ 4,436 $ 4,178

SUBSEQUENT EVENT

SUBSEQUENT EVENT	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENTOn October 23, 2023, the Board approved the declaration of a quarterly dividend of $0.77 per share of Moody’s common stock, payable on December 15, 2023 to shareholders of record at the close of business on November 24, 2023.

Description of Business and B_2

Description of Business and Basis of Presentation - (Policies)	9 Months Ended
	Sep. 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 GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from 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)	9 Months Ended
	Sep. 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 September 30, Nine Months Ended 2023 2022 2023 2022 MA: Decision Solutions (DS) Banking $ 136 $ 115 $ 390 $ 355 Insurance 138 129 404 370 KYC 80 64 228 191 Total DS 354 308 1,022 916 Research and Insights (R&I) 222 201 654 607 Data and Information (D&I) 200 176 584 532 Total external revenue 776 685 2,260 2,055 Intersegment revenue 3 2 10 5 Total MA 779 687 2,270 2,060 MIS: Corporate Finance (CFG) Investment-grade 63 67 272 249 High-yield 38 21 116 91 Bank loans 82 47 209 232 Other accounts (1) 163 142 470 444 Total CFG 346 277 1,067 1,016 Structured Finance (SFG) Asset-backed securities 30 26 89 89 RMBS 22 22 72 85 CMBS 17 19 45 84 Structured credit 32 34 95 109 Other accounts 1 — 2 1 Total SFG 102 101 303 368 Financial Institutions (FIG) Banking 92 76 289 258 Insurance 24 24 92 82 Managed investments 7 6 23 19 Other accounts 3 3 9 9 Total FIG 126 109 413 368 Public, Project and Infrastructure Finance (PPIF) Public finance / sovereign 49 44 155 157 Project and infrastructure 66 48 216 180 Total PPIF 115 92 371 337 Total ratings revenue 689 579 2,154 2,089 MIS Other 7 11 22 34 Total external revenue 696 590 2,176 2,123 Intersegment revenue 47 43 138 129 Total MIS 743 633 2,314 2,252 Eliminations (50) (45) (148) (134) Total MCO $ 1,472 $ 1,275 $ 4,436 $ 4,178 (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 September 30, 2023 Three Months Ended September 30, 2022 U.S. Non-U.S Total U.S. Non-U.S Total MA: Decision Solutions $ 147 $ 207 $ 354 $ 123 $ 185 $ 308 Research and Insights 124 98 222 120 81 201 Data and Information 69 131 200 63 113 176 Total MA 340 436 776 306 379 685 MIS: Corporate Finance 242 104 346 188 89 277 Structured Finance 65 37 102 69 32 101 Financial Institutions 52 74 126 47 62 109 Public, Project and Infrastructure Finance 69 46 115 57 35 92 Total ratings revenue 428 261 689 361 218 579 MIS Other — 7 7 1 10 11 Total MIS 428 268 696 362 228 590 Total MCO $ 768 $ 704 $ 1,472 $ 668 $ 607 $ 1,275 Nine Months Ended September 30, 2023 Nine Months Ended September 30, 2022 U.S. Non-U.S Total U.S. Non-U.S Total MA: Decision Solutions $ 426 $ 596 $ 1,022 $ 376 $ 540 $ 916 Research and Insights 361 293 654 352 255 607 Data and Information 204 380 584 185 347 532 Total MA 991 1,269 2,260 913 1,142 2,055 MIS: Corporate Finance 727 340 1,067 673 343 1,016 Structured Finance 186 117 303 249 119 368 Financial Institutions 188 225 413 165 203 368 Public, Project and Infrastructure Finance 228 143 371 210 127 337 Total ratings revenue 1,329 825 2,154 1,297 792 2,089 MIS Other — 22 22 4 30 34 Total MIS 1,329 847 2,176 1,301 822 2,123 Total MCO $ 2,320 $ 2,116 $ 4,436 $ 2,214 $ 1,964 $ 4,178 The following tables summarize the split between Transaction Revenue and Recurring Revenue. Three Months Ended September 30, 2023 2022 Transaction Recurring Total Transaction Recurring Total Decision Solutions $ 43 $ 311 $ 354 $ 34 $ 274 $ 308 12 % 88 % 100 % 11 % 89 % 100 % Research and Insights $ 4 $ 218 $ 222 $ 4 $ 197 $ 201 2 % 98 % 100 % 2 % 98 % 100 % Data and Information $ 1 $ 199 $ 200 $ — $ 176 $ 176 1 % 99 % 100 % — % 100 % 100 % Total MA $ 48 (1) $ 728 $ 776 $ 38 $ 647 $ 685 6 % 94 % 100 % 6 % 94 % 100 % Corporate Finance $ 216 $ 130 $ 346 $ 153 $ 124 $ 277 62 % 38 % 100 % 55 % 45 % 100 % Structured Finance $ 48 $ 54 $ 102 $ 51 $ 50 $ 101 47 % 53 % 100 % 50 % 50 % 100 % Financial Institutions $ 52 $ 74 $ 126 $ 41 $ 68 $ 109 41 % 59 % 100 % 38 % 62 % 100 % Public, Project and Infrastructure Finance $ 71 $ 44 $ 115 $ 50 $ 42 $ 92 62 % 38 % 100 % 54 % 46 % 100 % MIS Other $ 1 $ 6 $ 7 $ 1 $ 10 $ 11 14 % 86 % 100 % 9 % 91 % 100 % Total MIS $ 388 $ 308 $ 696 $ 296 $ 294 $ 590 56 % 44 % 100 % 50 % 50 % 100 % Total Moody's Corporation $ 436 $ 1,036 $ 1,472 $ 334 $ 941 $ 1,275 30 % 70 % 100 % 26 % 74 % 100 % Nine Months Ended September 30, 2023 2022 Transaction Recurring Total Transaction Recurring Total Decision Solutions $ 126 $ 896 $ 1,022 $ 112 $ 804 $ 916 12 % 88 % 100 % 12 % 88 % 100 % Research and Insights $ 12 $ 642 $ 654 $ 12 $ 595 $ 607 2 % 98 % 100 % 2 % 98 % 100 % Data and Information $ 2 $ 582 $ 584 $ — $ 532 $ 532 — % 100 % 100 % — % 100 % 100 % Total MA $ 140 (1) $ 2,120 $ 2,260 $ 124 $ 1,931 $ 2,055 6 % 94 % 100 % 6 % 94 % 100 % Corporate Finance $ 682 $ 385 $ 1,067 $ 645 $ 371 $ 1,016 64 % 36 % 100 % 63 % 37 % 100 % Structured Finance $ 142 $ 161 $ 303 $ 217 $ 151 $ 368 47 % 53 % 100 % 59 % 41 % 100 % Financial Institutions $ 195 $ 218 $ 413 $ 159 $ 209 $ 368 47 % 53 % 100 % 43 % 57 % 100 % Public, Project and Infrastructure Finance $ 240 $ 131 $ 371 $ 211 $ 126 $ 337 65 % 35 % 100 % 63 % 37 % 100 % MIS Other $ 4 $ 18 $ 22 $ 3 $ 31 $ 34 18 % 82 % 100 % 9 % 91 % 100 % Total MIS $ 1,263 $ 913 $ 2,176 $ 1,235 $ 888 $ 2,123 58 % 42 % 100 % 58 % 42 % 100 % Total Moody's Corporation $ 1,403 $ 3,033 $ 4,436 $ 1,359 $ 2,819 $ 4,178 32 % 68 % 100 % 33 % 67 % 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 September 30, 2023 Nine Months Ended September 30, 2023 MA MIS Total MA MIS Total Revenue recognized at a point in time $ 24 $ 388 $ 412 $ 73 $ 1,263 $ 1,336 Revenue recognized over time 752 308 1,060 2,187 913 3,100 Total $ 776 $ 696 $ 1,472 $ 2,260 $ 2,176 $ 4,436 Three Months Ended September 30, 2022 Nine Months Ended September 30, 2022 MA MIS Total MA MIS Total Revenue recognized at a point in time $ 20 $ 296 $ 316 $ 77 $ 1,235 $ 1,312 Revenue recognized over time 665 294 959 1,978 888 2,866 Total $ 685 $ 590 $ 1,275 $ 2,055 $ 2,123 $ 4,178
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 September 30, Nine Months Ended 2023 2022 2023 2022 MA: U.S. $ 340 $ 306 $ 991 $ 913 Non-U.S.: EMEA 300 254 867 774 Asia-Pacific 78 72 229 211 Americas 58 53 173 157 Total Non-U.S. 436 379 1,269 1,142 Total MA 776 685 2,260 2,055 MIS: U.S. 428 362 1,329 1,301 Non-U.S.: EMEA 155 139 509 497 Asia-Pacific 67 57 213 211 Americas 46 32 125 114 Total Non-U.S. 268 228 847 822 Total MIS 696 590 2,176 2,123 Total MCO $ 1,472 $ 1,275 $ 4,436 $ 4,178 Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 United States $ 768 $ 668 $ 2,320 $ 2,214 Non-U.S.: EMEA 455 393 1,376 1,271 Asia-Pacific 145 129 442 422 Americas 104 85 298 271 Total Non-U.S. 704 607 2,116 1,964 Total $ 1,472 $ 1,275 $ 4,436 $ 4,178
Schedule of Unbilled Receivables	The following table presents the Company's unbilled receivables, which are included within accounts receivable, net, at September 30, 2023 and December 31, 2022: As of September 30, 2023 As of December 31, 2022 MA MIS MA MIS Unbilled Receivables $ 119 $ 429 $ 148 $ 385
Schedule of Changes in the Deferred Revenue Balances	Significant changes in the deferred revenue balances during the three and nine months ended September 30, 2023 and 2022 are as follows: Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 MA MIS Total MA MIS Total Balance at June 30, $ 1,116 $ 336 $ 1,452 $ 1,019 $ 347 $ 1,366 Changes in deferred revenue Revenue recognized that was included in the deferred revenue balance at the beginning of the period (513) (113) (626) (480) (110) (590) Increases due to amounts billable excluding amounts recognized as revenue during the period 410 82 492 389 82 471 Effect of exchange rate changes (25) (2) (27) (9) (5) (14) Total changes in deferred revenue (128) (33) (161) (100) (33) (133) Balance at September 30, $ 988 $ 303 $ 1,291 $ 919 $ 314 $ 1,233 Nine Months Ended September 30, 2023 Nine Months Ended September 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 (969) (192) (1,161) (883) (186) (1,069) Increases due to amounts billable excluding amounts recognized as revenue during the period 908 218 1,126 819 218 1,037 Increases due to acquisitions during the period — — — 1 — 1 Effect of exchange rate changes (6) (1) (7) (57) (14) (71) Total changes in deferred revenue (67) 25 (42) (120) 18 (102) Balance at September 30, $ 988 $ 303 $ 1,291 $ 919 $ 314 $ 1,233 Deferred revenue - current $ 986 $ 240 $ 1,226 $ 917 $ 238 $ 1,155 Deferred revenue - non-current $ 2 $ 63 $ 65 $ 2 $ 76 $ 78

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Stock-based compensation cost $ 46 $ 46 $ 143 $ 130 Tax benefit $ 10 $ 10 $ 32 $ 30
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: Nine Months Ended 2023 2022 Exercise of stock options: Proceeds from stock option exercises $ 26 $ 6 Aggregate intrinsic value $ 48 $ 7 Tax benefit realized upon exercise $ 11 $ 2 Number of shares exercised (1) 0.2 — Vesting of restricted stock: Fair value of shares vested $ 154 $ 174 Tax benefit realized upon vesting $ 36 $ 41 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)	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes Paid	The following table shows the amount the Company paid for income taxes: Nine Months Ended September 30, 2023 2022 Income taxes paid $ 213 $ 394

RECONCILIATION OF WEIGHTED AV_2

RECONCILIATION OF WEIGHTED AVERAGE SHARES OUTSTANDING (Tables)	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Basic 183.3 183.2 183.4 184.1 Dilutive effect of shares issuable under stock-based compensation plans 0.7 0.7 0.7 0.8 Diluted 184.0 183.9 184.1 184.9 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 0.5 0.5 0.4

CASH EQUIVALENTS AND INVESTME_2

CASH EQUIVALENTS AND INVESTMENTS (Tables)	9 Months Ended
	Sep. 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 September 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) $ 1,039 $ — $ 1,039 $ 961 $ 73 $ 5 Mutual funds $ 88 $ 5 $ 93 $ — $ — $ 93 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 September 30, 2023 and December 31, 2022. The remaining contractual maturities for the certificates of deposits classified in other assets are 13 months to 15 months at September 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)	9 Months Ended
	Sep. 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 September 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. September 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Interest expense, net $ (66) $ (58) $ (185) $ (166) Descriptions Location on Consolidated Statements of Operations Net interest settlements and accruals on interest rate swaps Interest expense, net $ (25) $ (4) $ (64) $ 5 Fair value changes on interest rate swaps Interest expense, net $ (35) $ (95) $ (35) $ (227) Fair value changes on hedged debt Interest expense, net $ 35 $ 95 $ 35 $ 227
Schedule of Net Investment Hedges, Notional Amount That Will Be Settled At Expiry	As of September 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 September 30, Three Months Ended September 30, Three Months Ended September 30, 2023 2022 2023 2022 2023 2022 Cross currency swaps $ 63 $ 131 $ — $ — $ 13 $ 17 Long-term debt 30 62 — — — — Total net investment hedges $ 93 $ 193 $ — $ — $ 13 $ 17 Derivatives in Cash Flow Hedging Relationships Interest rate contracts $ — $ — $ (1) $ — $ — $ — Total cash flow hedges $ — $ — $ (1) $ — $ — $ — Total $ 93 $ 193 $ (1) $ — $ 13 $ 17 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) Nine Months Ended September 30, Nine Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 2023 2022 Cross currency swaps $ — $ 273 $ — $ — $ 43 $ 38 Long-term debt 8 148 — — — — Total net investment hedges $ 8 $ 421 $ — $ — $ 43 $ 38 Derivatives in Cash Flow Hedging Relationships Cross currency swaps $ — $ — $ 1 $ — $ — $ — Interest rate contracts — — (2) (1) — — Total cash flow hedges $ — $ — $ (1) $ (1) $ — $ — Total $ 8 $ 421 $ (1) $ (1) $ 43 $ 38
Components of Accumulated Other Comprehensive Income	The cumulative amount of net investment hedge and cash flow hedge gains (losses) remaining in AOCL is as follows: Cumulative Gains/(Losses), net of tax September 30, 2023 December 31, 2022 Net investment hedges Cross currency swaps $ 118 $ 118 FX forwards 29 29 Long-term debt 46 38 Total net investment hedges $ 193 $ 185 Cash flow hedges Interest rate contracts $ (45) $ (47) Cross currency swaps 1 2 Total cash flow hedges (44) (45) Total net gain in AOCL $ 149 $ 140 The following tables show changes in AOCL by component (net of tax): Three Months Ended September 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 June 30, $ (48) $ (45) $ (577) $ 100 $ (570) $ (46) $ (46) $ (756) $ 249 $ (599) Other comprehensive income/(loss) before reclassifications 1 — (176) 93 (82) — — (343) 193 (150) Amounts reclassified from AOCL (1) 1 — — — 1 — — — 1 Other comprehensive income/(loss) — 1 (176) 93 (82) 1 — (343) 193 (149) Balance at September 30, $ (48) $ (44) $ (753) $ 193 $ (652) $ (45) $ (46) $ (1,099) $ 442 $ (748) Nine Months Ended September 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 1 — (17) 8 (8) 2 — (784) 421 (361) Amounts reclassified from AOCL (2) 1 — — (1) 2 1 20 — 23 Other comprehensive income/(loss) (1) 1 (17) 8 (9) 4 1 (764) 421 (338) Balance at September 30, $ (48) $ (44) $ (753) $ 193 $ (652) $ (45) $ (46) $ (1,099) $ 442 $ (748)
Summary of Notional Amounts of Outstanding Foreign Exchange Forwards	The following table summarizes the notional amounts of the Company’s outstanding foreign exchange forwards: September 30, 2023 December 31, 2022 Notional amount of currency pair: Sell Buy Sell Buy Contracts to sell USD for GBP $ 486 £ 378 $ 170 £ 146 Contracts to sell USD for Japanese yen $ 15 ¥ 2,000 $ 24 ¥ 3,500 Contracts to sell USD for Canadian dollars $ 146 C$ 195 $ 87 C$ 120 Contracts to sell USD for Singapore dollars $ 61 S$ 82 $ 50 S$ 70 Contracts to sell USD for euros $ 98 € 90 $ 116 € 115 Contracts to sell USD for Indian rupee $ 23 ₹ 1,900 $ 19 ₹ 1,600 Contracts to sell euros for USD € — $ — € 85 $ 89 Contracts to sell AUD for USD A$ 5 $ 8 A$ — $ —
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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 FX forwards Other non-operating income, net $ (25) $ (46) $ (10) $ (103)
Fair Value of Derivative Instruments	The table below shows the classification between assets and liabilities on the Company’s consolidated balance sheets for the fair value of the derivative instrument as well as the carrying value of its non-derivative debt instruments designated and qualifying as net investment hedges: Derivative and Non-Derivative Instruments Balance Sheet Location September 30, 2023 December 31, 2022 Assets: Derivatives designated as accounting hedges: Cross-currency swaps designated as net investment hedges Other assets $ 27 $ 27 Derivatives not designated as accounting hedges: FX forwards on certain assets and liabilities Other current assets — 19 Total assets $ 27 $ 46 Liabilities: Derivatives designated as accounting hedges: Cross-currency swaps designated as net investment hedges Other liabilities $ 78 $ 78 Interest rate swaps designated as fair value hedges Other liabilities 273 239 Total derivatives designated as accounting hedges 351 317 Non-derivatives designated as accounting hedges: Long-term debt designated as net investment hedge Long-term debt 1,323 1,334 Derivatives not designated as accounting hedges: FX forwards on certain assets and liabilities Accounts payable and accrued liabilities 32 2 Total liabilities $ 1,706 $ 1,653

GOODWILL AND OTHER ACQUIRED I_2

GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS (Tables)	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Activity in Goodwill	The following table summarizes the activity in goodwill for the periods indicated: Nine Months Ended September 30, 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 (9) — (9) (2) — (2) (11) — (11) Ending balance $ 5,555 $ (12) $ 5,543 $ 288 $ — $ 288 $ 5,843 $ (12) $ 5,831 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: September 30, December 31, Customer relationships $ 2,021 $ 2,024 Accumulated amortization (520) (453) Net customer relationships 1,501 1,571 Software/product technology 659 661 Accumulated amortization (338) (283) Net software/product technology 321 378 Database 178 178 Accumulated amortization (78) (64) Net database 100 114 Trade names 196 197 Accumulated amortization (68) (58) Net trade names 128 139 Other (1) 52 52 Accumulated amortization (44) (44) Net other 8 8 Total acquired intangible assets, net $ 2,058 $ 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 September 30, Nine Months Ended 2023 2022 2023 2022 Amortization expense $ 49 $ 48 $ 150 $ 150

RESTRUCTURING (Tables)

RESTRUCTURING (Tables)	9 Months Ended
	Sep. 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: Three months ended September 30, 2023 2022 Employee Termination Costs Real Estate Related Costs (1) Total Employee Termination Costs (1) Real Estate Related Costs Total 2022 - 2023 Geolocation Restructuring Program $ 17 $ 10 $ 27 $ 1 $ — $ 1 Total Restructuring $ 17 $ 10 $ 27 $ 1 $ — $ 1 Nine months ended September 30, 2023 2022 Employee Termination Costs Real Estate Related Costs (1) Total Employee Termination Costs Real Estate Related Costs Total 2020 MA Strategic Reorganization Restructuring Program $ — $ — $ — $ (1) $ — $ (1) 2022 - 2023 Geolocation Restructuring Program 39 12 51 33 — 33 Total Restructuring $ 39 $ 12 $ 51 $ 32 $ — $ 32 (1) Primarily includes ROU Asset impairment charges for the three and nine months ended September 30, 2023. The fair value of the impaired asset was determined by utilizing the present value of the estimated future cash flows attributable to the asset. The fair value of the asset subsequent to the impairment was $4 million. The table below shows cumulative restructuring expense incurred through September 30, 2023 by reportable segment. MA MIS Total 2022 - 2023 Geolocation Restructuring Program $ 87 $ 77 $ 164
Changes to the Restructuring Liability	Changes to the restructuring liability for the aforementioned restructuring programs during the first nine months of 2023 were as follows: Balance as of December 31, 2022 $ 65 2022 - 2023 Geolocation Restructuring Program: Cost incurred and adjustments 39 Cash payments and adjustments (70) Balance as of September 30, 2023 $ 34 Cumulative expense incurred through September 30, 2023 Employee Real Estate Related Other Costs Total 2022 - 2023 Geolocation Restructuring Program $ 124 $ 39 $ 1 $ 164

FAIR VALUE (Tables)

FAIR VALUE (Tables)	9 Months Ended
	Sep. 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 September 30, 2023 and December 31, 2022: Fair Value Measurement as of September 30, 2023 Description Balance Level 1 Level 2 Assets: Derivatives (1) $ 27 $ — $ 27 Money market funds/mutual funds 107 107 — Total $ 134 $ 107 $ 27 Liabilities: Derivatives (1) $ 383 $ — $ 383 Total $ 383 $ — $ 383 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 consolidated financial statements.

OTHER BALANCE SHEET AND STATE_2

OTHER BALANCE SHEET AND STATEMENTS OF OPERATIONS INFORMATION (Tables)	9 Months Ended
	Sep. 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: September 30, 2023 December 31, 2022 Other current assets: Prepaid taxes $ 125 $ 235 Prepaid expenses 137 119 Capitalized costs to obtain and fulfill sales contracts 107 106 Foreign exchange forwards on certain assets and liabilities — 19 Interest receivable on interest rate and cross currency swaps 50 74 Other 26 30 Total other current assets $ 445 $ 583 Other assets: Investments in non-consolidated affiliates $ 521 $ 517 Deposits for real-estate leases 14 15 Indemnification assets related to acquisitions 109 110 Mutual funds and fixed deposits 98 87 Company owned life insurance (at contract value) 46 40 Costs to obtain sales contracts 178 171 Derivative instruments designated as accounting hedges 27 27 Pension and other retirement employee benefits 40 40 Other 97 85 Total other assets $ 1,130 $ 1,092 Accounts payable and accrued liabilities: Salaries and benefits $ 108 $ 104 Incentive compensation 244 276 Customer credits, advanced payments and advanced billings 89 102 Dividends 20 6 Professional service fees 58 49 Accrued interest 47 93 Accounts payable 41 52 Income taxes 96 86 Pension and other retirement employee benefits 7 7 Accrued royalties 22 23 Foreign exchange forwards on certain assets and liabilities 32 2 Restructuring liability 34 65 Interest payable on interest rate and cross currency swaps 50 51 Other 90 95 Total accounts payable and accrued liabilities $ 938 $ 1,011 September 30, 2023 December 31, 2022 Other liabilities: Pension and other retirement employee benefits $ 180 $ 189 Interest accrued on UTPs 34 47 MAKS indemnification provisions 19 23 Income tax liability - non-current portion 15 48 Derivative instruments designated as accounting hedges 351 317 Other 48 50 Total other liabilities $ 647 $ 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: September 30, 2023 December 31, 2022 Equity method investments (1) $ 189 $ 187 Investments measured using the measurement alternative (2) 325 325 Other 7 5 Total investments in non-consolidated affiliates $ 521 $ 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, net: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 FX gain (loss) (1) $ 2 $ 13 $ (29) $ (9) Net periodic pension costs - other components 8 6 26 18 Income from investments in non-consolidated affiliates 9 10 12 14 Gain (loss) on investments — (3) 11 (19) Other (2) (1) — 11 18 Total $ 18 $ 26 $ 31 $ 22 (1) The amount for the nine months ended September 30, 2023 includes a $23 million loss recorded pursuant to an immaterial out-of-period adjustment relating to the 2022 fiscal year. The amount for the nine months ended September 30, 2022 includes 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 nine months ended September 30, 2023 reflects a benefit of $9 million related to the favorable resolutions of various tax matters. The amount for the nine months ended September 30, 2022 reflects 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)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Reclassifications out of AOCI	The following table provides details about the reclassifications out of AOCL: Three Months Ended September 30, Location in the consolidated statements of operations Losses on cash flow hedges 2023 2022 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 gains/prior service credits and settlement credit included in net income 1 (1) Other non-operating income, net Total pension and other retirement benefits 1 (1) Total net losses included in Net Income attributable to reclassifications out of AOCL $ — $ (1) Nine Months Ended September 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 (2) (2) Other non-operating income, net Income tax effect of item above 1 1 Provision for income taxes Total net losses on cash flow hedges (1) (1) Pension and other retirement benefits Amortization of actuarial gains/prior service credits and settlement credit included in net income 3 (2) Other non-operating income, net Income tax effect of item above (1) — Provision for income taxes Total pension and other retirement benefits 2 (2) Total net gains (losses) included in Net Income attributable to reclassifications out of AOCL $ 1 $ (23)
Components of Accumulated Other Comprehensive Income	The cumulative amount of net investment hedge and cash flow hedge gains (losses) remaining in AOCL is as follows: Cumulative Gains/(Losses), net of tax September 30, 2023 December 31, 2022 Net investment hedges Cross currency swaps $ 118 $ 118 FX forwards 29 29 Long-term debt 46 38 Total net investment hedges $ 193 $ 185 Cash flow hedges Interest rate contracts $ (45) $ (47) Cross currency swaps 1 2 Total cash flow hedges (44) (45) Total net gain in AOCL $ 149 $ 140 The following tables show changes in AOCL by component (net of tax): Three Months Ended September 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 June 30, $ (48) $ (45) $ (577) $ 100 $ (570) $ (46) $ (46) $ (756) $ 249 $ (599) Other comprehensive income/(loss) before reclassifications 1 — (176) 93 (82) — — (343) 193 (150) Amounts reclassified from AOCL (1) 1 — — — 1 — — — 1 Other comprehensive income/(loss) — 1 (176) 93 (82) 1 — (343) 193 (149) Balance at September 30, $ (48) $ (44) $ (753) $ 193 $ (652) $ (45) $ (46) $ (1,099) $ 442 $ (748) Nine Months Ended September 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 1 — (17) 8 (8) 2 — (784) 421 (361) Amounts reclassified from AOCL (2) 1 — — (1) 2 1 20 — 23 Other comprehensive income/(loss) (1) 1 (17) 8 (9) 4 1 (764) 421 (338) Balance at September 30, $ (48) $ (44) $ (753) $ 193 $ (652) $ (45) $ (46) $ (1,099) $ 442 $ (748)

INDEBTEDNESS (Tables)

INDEBTEDNESS (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Summary of Total Indebtedness	The following table summarizes total indebtedness: September 30, 2023 Notes Payable: Principal Amount Fair Value of Interest Rate Swaps (1) Unamortized (Discount) Premium Unamortized Debt Issuance Costs Carrying Value 5.25% 2014 Senior Notes, due 2044 $ 600 $ (46) $ 3 $ (4) $ 553 1.75% 2015 Senior Notes, due 2027 529 — — (1) 528 3.25% 2017 Senior Notes, due 2028 500 (37) (2) (2) 459 4.25% 2018 Senior Notes, due 2029 400 (49) (2) (2) 347 4.875% 2018 Senior Notes, due 2048 400 (48) (6) (3) 343 0.950% 2019 Senior Notes, due 2030 794 — (2) (4) 788 3.75% 2020 Senior Notes, due 2025 700 (22) — (2) 676 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 — (6) (4) 590 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 (56) (8) (5) 431 4.25% 2022 Senior Notes, due 2032 500 (16) (2) (4) 478 Total long-term debt $ 7,223 $ (274) $ (51) $ (47) $ 6,851 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 tables 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 September 30,) $ — 2024 — 2025 700 2026 — 2027 529 Thereafter 5,994 Total $ 7,223
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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Income $ 19 $ 5 $ 44 $ 9 Expense on borrowings (1) (75) (54) (220) (152) Income (expense) on UTPs and other tax related liabilities (2) (4) (5) 10 (11) Net periodic pension costs - interest component (6) (4) (19) (12) Interest expense, net $ (66) $ (58) $ (185) $ (166) Interest paid (3) $ 87 $ 77 $ 230 $ 167 (1) Expense on borrowings includes interest on long-term debt, as well as realized gains/losses related to interest rate swaps and cross currency swaps, which are more fully discussed in Note 8. (2) The amount for the nine months ended September 30, 2023 reflects a $22 million reduction of tax-related interest expense primarily related to the resolutions of outstanding tax matters. (3) Interest paid includes net settlements on interest rate swaps, which are 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 September 30, 2023 and December 31, 2022 are as follows: September 30, 2023 December 31, 2022 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Total debt $ 6,851 $ 5,844 $ 7,389 $ 6,564

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Components of Lease Cost	The following table presents the components of the Company’s lease cost: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Operating lease cost $ 23 $ 25 $ 70 $ 77 Sublease income (1) (2) (5) (6) Variable lease cost 6 5 16 15 Total lease cost $ 28 $ 28 $ 81 $ 86
Schedule of Operating Leases Information	The following tables present other information related to the Company’s operating leases: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Cash paid for amounts included in the measurement of operating lease liabilities $ 30 $ 29 $ 90 $ 89 Right-of-use assets obtained in exchange for new operating lease liabilities $ 1 $ 1 $ 25 $ 31 September 30, 2023 September 30, 2022 Weighted-average remaining lease term 4.6 years 5.1 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 September 30, 2023: Year Ending December 31, Operating Leases 2023 (After September 30,) $ 29 2024 115 2025 103 2026 84 2027 68 After 2027 53 Total lease payments (undiscounted) 452 Less: Interest 31 Present value of lease liabilities: $ 421 Lease liabilities - current $ 105 Lease liabilities - noncurrent $ 316

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 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 September 30, 2023 2022 MA MIS Eliminations Consolidated MA MIS Eliminations Consolidated Total external revenue $ 776 $ 696 $ — $ 1,472 $ 685 $ 590 $ — $ 1,275 Intersegment revenue 3 47 (50) — 2 43 (45) — Revenue 779 743 (50) 1,472 687 633 (45) 1,275 Operating, SG&A 517 348 (50) 815 479 344 (45) 778 Adjusted Operating Income $ 262 $ 395 $ — $ 657 $ 208 $ 289 $ — $ 497 Add: Depreciation and 76 19 — 95 62 21 — 83 Restructuring 22 5 — 27 1 — — 1 Operating Income $ 535 $ 413 Nine Months Ended September 30, 2023 2022 MA MIS Eliminations Consolidated MA MIS Eliminations Consolidated Total external revenue $ 2,260 $ 2,176 $ — $ 4,436 $ 2,055 $ 2,123 $ — $ 4,178 Intersegment revenue 10 138 (148) — 5 129 (134) — Revenue 2,270 2,314 (148) 4,436 2,060 2,252 (134) 4,178 Operating, SG&A 1,584 1,034 (148) 2,470 1,423 1,038 (134) 2,327 Adjusted Operating Income $ 686 $ 1,280 $ — $ 1,966 $ 637 $ 1,214 $ — $ 1,851 Add: Depreciation and amortization 220 56 — 276 182 60 — 242 Restructuring 38 13 — 51 17 15 — 32 Operating Income $ 1,639 $ 1,577
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: Three months ended September 30, 2023 2022 Employee Termination Costs Real Estate Related Costs (1) Total Employee Termination Costs (1) Real Estate Related Costs Total 2022 - 2023 Geolocation Restructuring Program $ 17 $ 10 $ 27 $ 1 $ — $ 1 Total Restructuring $ 17 $ 10 $ 27 $ 1 $ — $ 1 Nine months ended September 30, 2023 2022 Employee Termination Costs Real Estate Related Costs (1) Total Employee Termination Costs Real Estate Related Costs Total 2020 MA Strategic Reorganization Restructuring Program $ — $ — $ — $ (1) $ — $ (1) 2022 - 2023 Geolocation Restructuring Program 39 12 51 33 — 33 Total Restructuring $ 39 $ 12 $ 51 $ 32 $ — $ 32 (1) Primarily includes ROU Asset impairment charges for the three and nine months ended September 30, 2023. The fair value of the impaired asset was determined by utilizing the present value of the estimated future cash flows attributable to the asset. The fair value of the asset subsequent to the impairment was $4 million. The table below shows cumulative restructuring expense incurred through September 30, 2023 by reportable segment. MA MIS Total 2022 - 2023 Geolocation Restructuring Program $ 87 $ 77 $ 164
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 September 30, Nine Months Ended 2023 2022 2023 2022 MA: U.S. $ 340 $ 306 $ 991 $ 913 Non-U.S.: EMEA 300 254 867 774 Asia-Pacific 78 72 229 211 Americas 58 53 173 157 Total Non-U.S. 436 379 1,269 1,142 Total MA 776 685 2,260 2,055 MIS: U.S. 428 362 1,329 1,301 Non-U.S.: EMEA 155 139 509 497 Asia-Pacific 67 57 213 211 Americas 46 32 125 114 Total Non-U.S. 268 228 847 822 Total MIS 696 590 2,176 2,123 Total MCO $ 1,472 $ 1,275 $ 4,436 $ 4,178 Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 United States $ 768 $ 668 $ 2,320 $ 2,214 Non-U.S.: EMEA 455 393 1,376 1,271 Asia-Pacific 145 129 442 422 Americas 104 85 298 271 Total Non-U.S. 704 607 2,116 1,964 Total $ 1,472 $ 1,275 $ 4,436 $ 4,178

Description of Business and B_3

Description of Business and Basis of Presentation - Additional Information (Detail)	9 Months Ended
	Sep. 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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 1,472	$ 1,275	$ 4,436	$ 4,178
Eliminations
Disaggregation of Revenue [Line Items]
Revenue	(50)	(45)	(148)	(134)
Eliminations
Disaggregation of Revenue [Line Items]
Revenue	(50)	(45)	(148)	(134)
MA
Disaggregation of Revenue [Line Items]
Revenue	776	685	2,260	2,055
MA | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	779	687	2,270	2,060
MA | Eliminations
Disaggregation of Revenue [Line Items]
Revenue	3	2	10	5
MA | Decision Solutions (DS)
Disaggregation of Revenue [Line Items]
Revenue	354	308
MA | Decision Solutions (DS) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	354	308	1,022	916
MA | Decision Solutions (DS) | DS Banking Product and Service | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	136	115	390	355
MA | Decision Solutions (DS) | Insurance | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	138	129	404	370
MA | Decision Solutions (DS) | KYC | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	80	64	228	191
MA | Research and Insights (R&I)
Disaggregation of Revenue [Line Items]
Revenue	222	201
MA | Research and Insights (R&I) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	222	201	654	607
MA | Data and Information (D&I)
Disaggregation of Revenue [Line Items]
Revenue	200	176
MA | Data and Information (D&I) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	200	176	584	532
MIS
Disaggregation of Revenue [Line Items]
Revenue	696	590	2,176	2,123
MIS | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	743	633	2,314	2,252
MIS | Eliminations
Disaggregation of Revenue [Line Items]
Revenue	47	43	138	129
MIS | Corporate Finance (CFG)
Disaggregation of Revenue [Line Items]
Revenue	346	277
MIS | Corporate Finance (CFG) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	346	277	1,067	1,016
MIS | Corporate Finance (CFG) | Investment-grade | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	63	67	272	249
MIS | Corporate Finance (CFG) | High-yield | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	38	21	116	91
MIS | Corporate Finance (CFG) | Bank loans | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	82	47	209	232
MIS | Corporate Finance (CFG) | Other accounts | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	163	142	470	444
MIS | Structured Finance (SFG)
Disaggregation of Revenue [Line Items]
Revenue	102	101
MIS | Structured Finance (SFG) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	102	101	303	368
MIS | Structured Finance (SFG) | Other accounts | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	1	0	2	1
MIS | Structured Finance (SFG) | Asset-backed securities | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	30	26	89	89
MIS | Structured Finance (SFG) | RMBS | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	22	22	72	85
MIS | Structured Finance (SFG) | CMBS | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	17	19	45	84
MIS | Structured Finance (SFG) | Structured credit | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	32	34	95	109
MIS | Financial Institutions (FIG)
Disaggregation of Revenue [Line Items]
Revenue	126	109
MIS | Financial Institutions (FIG) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	126	109	413	368
MIS | Financial Institutions (FIG) | Banking | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	92	76	289	258
MIS | Financial Institutions (FIG) | Insurance | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	24	24	92	82
MIS | Financial Institutions (FIG) | Other accounts | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	3	3	9	9
MIS | Financial Institutions (FIG) | Managed investments | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	7	6	23	19
MIS | Public, Project and Infrastructure Finance (PPIF)
Disaggregation of Revenue [Line Items]
Revenue	115	92
MIS | Public, Project and Infrastructure Finance (PPIF) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	115	92	371	337
MIS | Public, Project and Infrastructure Finance (PPIF) | Public finance / sovereign | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	49	44	155	157
MIS | Public, Project and Infrastructure Finance (PPIF) | Project and infrastructure | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	66	48	216	180
MIS | Total ratings revenue
Disaggregation of Revenue [Line Items]
Revenue	689	579
MIS | Total ratings revenue | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	689	579	2,154	2,089
MIS | MIS Other
Disaggregation of Revenue [Line Items]
Revenue	7	11
MIS | MIS Other | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	$ 7	$ 11	$ 22	$ 34

Revenues - Revenues Disaggregat

Revenues - Revenues Disaggregated by Line of Business and Geographical Area (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 1,472	$ 1,275	$ 4,436	$ 4,178
United States
Disaggregation of Revenue [Line Items]
Revenue	768	668	2,320	2,214
Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	704	607	2,116	1,964
MA
Disaggregation of Revenue [Line Items]
Revenue	776	685	2,260	2,055
MA | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	779	687	2,270	2,060
MA | United States
Disaggregation of Revenue [Line Items]
Revenue	340	306	991	913
MA | United States | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	340	306	991	913
MA | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	436	379	1,269	1,142
MA | Non-U.S. | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	436	379	1,269	1,142
MA | Decision Solutions (DS)
Disaggregation of Revenue [Line Items]
Revenue	354	308
MA | Decision Solutions (DS) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	354	308	1,022	916
MA | Decision Solutions (DS) | United States
Disaggregation of Revenue [Line Items]
Revenue	147	123
MA | Decision Solutions (DS) | United States | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue			426	376
MA | Decision Solutions (DS) | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	207	185
MA | Decision Solutions (DS) | Non-U.S. | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue			596	540
MA | Research and Insights (R&I)
Disaggregation of Revenue [Line Items]
Revenue	222	201
MA | Research and Insights (R&I) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	222	201	654	607
MA | Research and Insights (R&I) | United States
Disaggregation of Revenue [Line Items]
Revenue	124	120
MA | Research and Insights (R&I) | United States | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue			361	352
MA | Research and Insights (R&I) | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	98	81
MA | Research and Insights (R&I) | Non-U.S. | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue			293	255
MA | Data and Information (D&I)
Disaggregation of Revenue [Line Items]
Revenue	200	176
MA | Data and Information (D&I) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	200	176	584	532
MA | Data and Information (D&I) | United States
Disaggregation of Revenue [Line Items]
Revenue	69	63
MA | Data and Information (D&I) | United States | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue			204	185
MA | Data and Information (D&I) | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	131	113
MA | Data and Information (D&I) | Non-U.S. | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue			380	347
MIS
Disaggregation of Revenue [Line Items]
Revenue	696	590	2,176	2,123
MIS | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	743	633	2,314	2,252
MIS | United States
Disaggregation of Revenue [Line Items]
Revenue	428	362	1,329	1,301
MIS | United States | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	428	362	1,329	1,301
MIS | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	268	228	847	822
MIS | Non-U.S. | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	268	228	847	822
MIS | Corporate Finance (CFG)
Disaggregation of Revenue [Line Items]
Revenue	346	277
MIS | Corporate Finance (CFG) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	346	277	1,067	1,016
MIS | Corporate Finance (CFG) | United States
Disaggregation of Revenue [Line Items]
Revenue	242	188
MIS | Corporate Finance (CFG) | United States | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue			727	673
MIS | Corporate Finance (CFG) | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	104	89
MIS | Corporate Finance (CFG) | Non-U.S. | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue			340	343
MIS | Structured Finance (SFG)
Disaggregation of Revenue [Line Items]
Revenue	102	101
MIS | Structured Finance (SFG) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	102	101	303	368
MIS | Structured Finance (SFG) | United States
Disaggregation of Revenue [Line Items]
Revenue	65	69
MIS | Structured Finance (SFG) | United States | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue			186	249
MIS | Structured Finance (SFG) | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	37	32
MIS | Structured Finance (SFG) | Non-U.S. | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue			117	119
MIS | Financial Institutions (FIG)
Disaggregation of Revenue [Line Items]
Revenue	126	109
MIS | Financial Institutions (FIG) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	126	109	413	368
MIS | Financial Institutions (FIG) | United States
Disaggregation of Revenue [Line Items]
Revenue	52	47
MIS | Financial Institutions (FIG) | United States | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue			188	165
MIS | Financial Institutions (FIG) | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	74	62
MIS | Financial Institutions (FIG) | Non-U.S. | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue			225	203
MIS | Public, Project and Infrastructure Finance (PPIF)
Disaggregation of Revenue [Line Items]
Revenue	115	92
MIS | Public, Project and Infrastructure Finance (PPIF) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	115	92	371	337
MIS | Public, Project and Infrastructure Finance (PPIF) | United States
Disaggregation of Revenue [Line Items]
Revenue	69	57
MIS | Public, Project and Infrastructure Finance (PPIF) | United States | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue			228	210
MIS | Public, Project and Infrastructure Finance (PPIF) | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	46	35
MIS | Public, Project and Infrastructure Finance (PPIF) | Non-U.S. | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue			143	127
MIS | Total ratings revenue
Disaggregation of Revenue [Line Items]
Revenue	689	579
MIS | Total ratings revenue | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	689	579	2,154	2,089
MIS | Total ratings revenue | United States
Disaggregation of Revenue [Line Items]
Revenue	428	361
MIS | Total ratings revenue | United States | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue			1,329	1,297
MIS | Total ratings revenue | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	261	218
MIS | Total ratings revenue | Non-U.S. | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue			825	792
MIS | MIS Other
Disaggregation of Revenue [Line Items]
Revenue	7	11
MIS | MIS Other | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	7	11	22	34
MIS | MIS Other | United States
Disaggregation of Revenue [Line Items]
Revenue	0	1
MIS | MIS Other | United States | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue			0	4
MIS | MIS Other | Non-U.S.
Disaggregation of Revenue [Line Items]
Revenue	$ 7	$ 10
MIS | MIS Other | Non-U.S. | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue			$ 22	$ 30

Revenues - Consolidated Revenue

Revenues - Consolidated Revenue Information by Geographic Area (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Revenue	$ 1,472	$ 1,275	$ 4,436	$ 4,178
MA
Segment Reporting Information [Line Items]
Revenue	776	685	2,260	2,055
MA | Operating Segments
Segment Reporting Information [Line Items]
Revenue	779	687	2,270	2,060
MIS
Segment Reporting Information [Line Items]
Revenue	696	590	2,176	2,123
MIS | Operating Segments
Segment Reporting Information [Line Items]
Revenue	743	633	2,314	2,252
United States
Segment Reporting Information [Line Items]
Revenue	768	668	2,320	2,214
United States | MA
Segment Reporting Information [Line Items]
Revenue	340	306	991	913
United States | MA | Operating Segments
Segment Reporting Information [Line Items]
Revenue	340	306	991	913
United States | MIS
Segment Reporting Information [Line Items]
Revenue	428	362	1,329	1,301
United States | MIS | Operating Segments
Segment Reporting Information [Line Items]
Revenue	428	362	1,329	1,301
Non-U.S.
Segment Reporting Information [Line Items]
Revenue	704	607	2,116	1,964
Non-U.S. | MA
Segment Reporting Information [Line Items]
Revenue	436	379	1,269	1,142
Non-U.S. | MA | Operating Segments
Segment Reporting Information [Line Items]
Revenue	436	379	1,269	1,142
Non-U.S. | MIS
Segment Reporting Information [Line Items]
Revenue	268	228	847	822
Non-U.S. | MIS | Operating Segments
Segment Reporting Information [Line Items]
Revenue	268	228	847	822
EMEA
Segment Reporting Information [Line Items]
Revenue	455	393	1,376	1,271
EMEA | MA | Operating Segments
Segment Reporting Information [Line Items]
Revenue	300	254	867	774
EMEA | MIS | Operating Segments
Segment Reporting Information [Line Items]
Revenue	155	139	509	497
Asia-Pacific
Segment Reporting Information [Line Items]
Revenue	145	129	442	422
Asia-Pacific | MA | Operating Segments
Segment Reporting Information [Line Items]
Revenue	78	72	229	211
Asia-Pacific | MIS | Operating Segments
Segment Reporting Information [Line Items]
Revenue	67	57	213	211
Americas
Segment Reporting Information [Line Items]
Revenue	104	85	298	271
Americas | MA | Operating Segments
Segment Reporting Information [Line Items]
Revenue	58	53	173	157
Americas | MIS | Operating Segments
Segment Reporting Information [Line Items]
Revenue	$ 46	$ 32	$ 125	$ 114

Revenues - Transaction and Rela

Revenues - Transaction and Relationship Revenue (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 1,472	$ 1,275	$ 4,436	$ 4,178
Percentage of revenues	100%	100%	100%	100%
Transaction Revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 436	$ 334	$ 1,403	$ 1,359
Percentage of revenues	30%	26%	32%	33%
Recurring Revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 1,036	$ 941	$ 3,033	$ 2,819
Percentage of revenues	70%	74%	68%	67%
MA
Disaggregation of Revenue [Line Items]
Revenue	$ 776	$ 685	$ 2,260	$ 2,055
MA | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	$ 779	$ 687	$ 2,270	$ 2,060
Percentage of revenues	100%	100%	100%	100%
MA | Decision Solutions (DS)
Disaggregation of Revenue [Line Items]
Revenue	$ 354	$ 308
MA | Decision Solutions (DS) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	$ 354	$ 308	$ 1,022	$ 916
Percentage of revenues	100%	100%	100%	100%
MA | Research and Insights (R&I)
Disaggregation of Revenue [Line Items]
Revenue	$ 222	$ 201
MA | Research and Insights (R&I) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	$ 222	$ 201	$ 654	$ 607
Percentage of revenues	100%	100%	100%	100%
MA | Data and Information (D&I)
Disaggregation of Revenue [Line Items]
Revenue	$ 200	$ 176
MA | Data and Information (D&I) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	$ 200	$ 176	$ 584	$ 532
Percentage of revenues	100%	100%	100%	100%
MA | Transaction Revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 48	$ 38	$ 140	$ 124
MA | Transaction Revenue | Operating Segments
Disaggregation of Revenue [Line Items]
Percentage of revenues	6%	6%	6%	6%
MA | Transaction Revenue | Decision Solutions (DS) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	$ 43	$ 34	$ 126	$ 112
Percentage of revenues	12%	11%	12%	12%
MA | Transaction Revenue | Research and Insights (R&I) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	$ 4	$ 4	$ 12	$ 12
Percentage of revenues	2%	2%	2%	2%
MA | Transaction Revenue | Data and Information (D&I) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	$ 1	$ 0	$ 2	$ 0
Percentage of revenues	1%	0%	0%	0%
MA | Recurring Revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 728	$ 647	$ 2,120	$ 1,931
MA | Recurring Revenue | Operating Segments
Disaggregation of Revenue [Line Items]
Percentage of revenues	94%	94%	94%	94%
MA | Recurring Revenue | Decision Solutions (DS) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	$ 311	$ 274	$ 896	$ 804
Percentage of revenues	88%	89%	88%	88%
MA | Recurring Revenue | Research and Insights (R&I) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	$ 218	$ 197	$ 642	$ 595
Percentage of revenues	98%	98%	98%	98%
MA | Recurring Revenue | Data and Information (D&I) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	$ 199	$ 176	$ 582	$ 532
Percentage of revenues	99%	100%	100%	100%
MIS
Disaggregation of Revenue [Line Items]
Revenue	$ 696	$ 590	$ 2,176	$ 2,123
MIS | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	$ 743	$ 633	$ 2,314	$ 2,252
Percentage of revenues	100%	100%	100%	100%
MIS | Corporate Finance (CFG)
Disaggregation of Revenue [Line Items]
Revenue	$ 346	$ 277
MIS | Corporate Finance (CFG) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	$ 346	$ 277	$ 1,067	$ 1,016
Percentage of revenues	100%	100%	100%	100%
MIS | Structured Finance (SFG)
Disaggregation of Revenue [Line Items]
Revenue	$ 102	$ 101
MIS | Structured Finance (SFG) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	$ 102	$ 101	$ 303	$ 368
Percentage of revenues	100%	100%	100%	100%
MIS | Financial Institutions (FIG)
Disaggregation of Revenue [Line Items]
Revenue	$ 126	$ 109
MIS | Financial Institutions (FIG) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	$ 126	$ 109	$ 413	$ 368
Percentage of revenues	100%	100%	100%	100%
MIS | Public, Project and Infrastructure Finance (PPIF)
Disaggregation of Revenue [Line Items]
Revenue	$ 115	$ 92
MIS | Public, Project and Infrastructure Finance (PPIF) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	$ 115	$ 92	$ 371	$ 337
Percentage of revenues	100%	100%	100%	100%
MIS | MIS Other
Disaggregation of Revenue [Line Items]
Revenue	$ 7	$ 11
MIS | MIS Other | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	$ 7	$ 11	$ 22	$ 34
Percentage of revenues	100%	100%	100%	100%
MIS | Transaction Revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 388	$ 296	$ 1,263	$ 1,235
MIS | Transaction Revenue | Operating Segments
Disaggregation of Revenue [Line Items]
Percentage of revenues	56%	50%	58%	58%
MIS | Transaction Revenue | Corporate Finance (CFG) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	$ 216	$ 153	$ 682	$ 645
Percentage of revenues	62%	55%	64%	63%
MIS | Transaction Revenue | Structured Finance (SFG) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	$ 48	$ 51	$ 142	$ 217
Percentage of revenues	47%	50%	47%	59%
MIS | Transaction Revenue | Financial Institutions (FIG) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	$ 52	$ 41	$ 195	$ 159
Percentage of revenues	41%	38%	47%	43%
MIS | Transaction Revenue | Public, Project and Infrastructure Finance (PPIF) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	$ 71	$ 50	$ 240	$ 211
Percentage of revenues	62%	54%	65%	63%
MIS | Transaction Revenue | MIS Other | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	$ 1	$ 1	$ 4	$ 3
Percentage of revenues	14%	9%	18%	9%
MIS | Recurring Revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 308	$ 294	$ 913	$ 888
MIS | Recurring Revenue | Operating Segments
Disaggregation of Revenue [Line Items]
Percentage of revenues	44%	50%	42%	42%
MIS | Recurring Revenue | Corporate Finance (CFG) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	$ 130	$ 124	$ 385	$ 371
Percentage of revenues	38%	45%	36%	37%
MIS | Recurring Revenue | Structured Finance (SFG) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	$ 54	$ 50	$ 161	$ 151
Percentage of revenues	53%	50%	53%	41%
MIS | Recurring Revenue | Financial Institutions (FIG) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	$ 74	$ 68	$ 218	$ 209
Percentage of revenues	59%	62%	53%	57%
MIS | Recurring Revenue | Public, Project and Infrastructure Finance (PPIF) | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	$ 44	$ 42	$ 131	$ 126
Percentage of revenues	38%	46%	35%	37%
MIS | Recurring Revenue | MIS Other | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	$ 6	$ 10	$ 18	$ 31
Percentage of revenues	86%	91%	82%	91%

Revenues - Revenue Recognition

Revenues - Revenue Recognition Timing (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue recognized	$ 1,472	$ 1,275	$ 4,436	$ 4,178
At Point in Time
Disaggregation of Revenue [Line Items]
Revenue recognized	412	316	1,336	1,312
Over Time
Disaggregation of Revenue [Line Items]
Revenue recognized	1,060	959	3,100	2,866
MA
Disaggregation of Revenue [Line Items]
Revenue recognized	776	685	2,260	2,055
MA | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue recognized	779	687	2,270	2,060
MA | At Point in Time
Disaggregation of Revenue [Line Items]
Revenue recognized	24		73
MA | At Point in Time | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue recognized		20		77
MA | Over Time
Disaggregation of Revenue [Line Items]
Revenue recognized	752		2,187
MA | Over Time | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue recognized		665		1,978
MIS
Disaggregation of Revenue [Line Items]
Revenue recognized	696	590	2,176	2,123
MIS | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue recognized	743	633	2,314	2,252
MIS | At Point in Time
Disaggregation of Revenue [Line Items]
Revenue recognized	388		1,263
MIS | At Point in Time | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue recognized		296		1,235
MIS | Over Time
Disaggregation of Revenue [Line Items]
Revenue recognized	$ 308		$ 913
MIS | Over Time | Operating Segments
Disaggregation of Revenue [Line Items]
Revenue recognized		$ 294		$ 888

Revenues - Unbilled Receivables

Revenues - Unbilled Receivables (Detail) - Accounts Receivable - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
MA
Disaggregation of Revenue [Line Items]
Unbilled Receivables	$ 119	$ 148
MIS
Disaggregation of Revenue [Line Items]
Unbilled Receivables	$ 429	$ 385

Revenues - Schedule of Changes

Revenues - Schedule of Changes in the Deferred Revenue Balances (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Change in Contract with Customer, Liability [Abstract]
Beginning Balance	$ 1,452	$ 1,366	$ 1,333	$ 1,335
Revenue recognized that was included in the deferred revenue balance at the beginning of the period	(626)	(590)	(1,161)	(1,069)
Increases due to amounts billable excluding amounts recognized as revenue during the period	492	471	1,126	1,037
Increases due to acquisitions during the period			0	1
Effect of exchange rate changes	(27)	(14)	(7)	(71)
Total changes in deferred revenue	(161)	(133)	(42)	(102)
Ending Balance	1,291	1,233	1,291	1,233
Deferred revenue	1,226	1,155	1,226	1,155	$ 1,258
Non-current portion of deferred revenue	65	78	65	78	$ 75
MA
Change in Contract with Customer, Liability [Abstract]
Beginning Balance	1,116	1,019	1,055	1,039
Revenue recognized that was included in the deferred revenue balance at the beginning of the period	(513)	(480)	(969)	(883)
Increases due to amounts billable excluding amounts recognized as revenue during the period	410	389	908	819
Increases due to acquisitions during the period			0	1
Effect of exchange rate changes	(25)	(9)	(6)	(57)
Total changes in deferred revenue	(128)	(100)	(67)	(120)
Ending Balance	988	919	988	919
Deferred revenue	986	917	986	917
Non-current portion of deferred revenue	2	2	2	2
MIS
Change in Contract with Customer, Liability [Abstract]
Beginning Balance	336	347	278	296
Revenue recognized that was included in the deferred revenue balance at the beginning of the period	(113)	(110)	(192)	(186)
Increases due to amounts billable excluding amounts recognized as revenue during the period	82	82	218	218
Increases due to acquisitions during the period			0	0
Effect of exchange rate changes	(2)	(5)	(1)	(14)
Total changes in deferred revenue	(33)	(33)	25	18
Ending Balance	303	314	303	314
Deferred revenue	240	238	240	238
Non-current portion of deferred revenue	$ 63	$ 76	$ 63	$ 76

Revenues - Expected Recognition

Revenues - Expected Recognition Period for Remaining Performance Obligations (Detail) $ in Millions	Sep. 30, 2023 USD ($)
MA
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 3,100
MA | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
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	$ 91
MIS | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Stock-based compensation cost	$ 46	$ 46	$ 143	$ 130
Tax benefit	$ 10	$ 10	$ 32	$ 30

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended	9 Months Ended
	Apr. 30, 2023	Sep. 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)		$ 95.66
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)		$ 296.05
Award vesting period		4 years
Unrecognized compensation expense		$ 261
Weighted average period to recognize expense		2 years 6 months
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		4 years
Unrecognized compensation expense		$ 12
Weighted average period to recognize expense		1 year 10 months 24 days
Performance Based Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Other than options, shares granted (in shares)		0.1
Other than options, weighted average grant date fair value (in usd per share)		$ 287.70
Award vesting period		3 years
Unrecognized compensation expense		$ 29
Weighted average period to recognize expense		2 years 1 month 6 days

Stock-Based Compensation - Weig

Stock-Based Compensation - Weighted Average Assumptions used in Determining Fair Value for Options Granted (Detail) - Share-Based Payment Arrangement	9 Months Ended
	Sep. 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	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Proceeds from stock option exercises	$ 26	$ 6
Aggregate intrinsic value	48	7
Tax benefit realized upon exercise	$ 11	$ 2
Number of shares exercised (shares)	200	41
Restricted Stock
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Fair value of shares vested	$ 154	$ 174
Tax benefit realized upon vesting	$ 36	$ 41
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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Effective tax rate (percent)	19.90%	20.50%	14.60%	21.30%
Decrease in effective income tax due to resolution of uncertain tax positions			6.70%
Reduction resulting from lapse of applicable statute of limitations and settlement			$ 116
Excess tax benefits from stock compensation			13
Overall increase (decrease) in unrecognized tax benefits (UTPs)	$ 5		(114)
Unrecognized tax benefits, period increase (decrease), net of federal tax	$ 4		$ (115)
Income tax examination, description			Moody’s is 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 through 2022 remain 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	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income taxes paid	$ 213	$ 394

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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Basic (in shares)	183.3	183.2	183.4	184.1
Dilutive effect of shares issuable under stock-based compensation plans (in shares)	0.7	0.7	0.7	0.8
Diluted (in shares)	184	183.9	184.1	184.9
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	0.5	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	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 2,006	$ 1,769
Short-term investments	73	90
Other assets	1,130	1,092
Certificates of deposit and money market deposit accounts/funds
Cash and Cash Equivalents [Line Items]
Cost	1,039	914
Gains/(Losses)	0	0
Fair Value	1,039	914
Cash and cash equivalents	961	808
Short-term investments	73	90
Other assets	5	16
Mutual funds
Cash and Cash Equivalents [Line Items]
Cost	88	71
Gains/(Losses)	5	0
Fair Value	93	71
Cash and cash equivalents	0	0
Short-term investments	0	0
Other assets	$ 93	$ 71

Cash Equivalents and Investme_4

Cash Equivalents and Investments (Footnote) (Detail) - Certificates of deposit and money market deposit accounts/funds	Sep. 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	15 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	Sep. 30, 2023	Dec. 31, 2022
Cash and Cash Equivalents [Abstract]
Company owned life insurance (at contract value)	$ 46	$ 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	9 Months Ended	12 Months Ended
	Sep. 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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Interest expense, net	$ (66)	$ (58)	$ (185)	$ (166)
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	(25)	(4)	(64)	5
Designated as Hedging Instrument | Interest Rate Swap | Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Fair value changes on interest rate swaps	(35)	(95)	(35)	(227)
Fair value changes on hedged debt	$ 35	$ 95	$ 35	$ 227

Derivative Instruments And He_5

Derivative Instruments And Hedging Activities - Additional Information (Detail) - Sep. 30, 2023 € in Millions, $ in Millions	USD ($)	EUR (€)
Not Designated as Accounting Hedges | Total return swaps
Derivative [Line Items]
Notional Amount | $	$ 52
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	9 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2023 EUR (€)	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	Sep. 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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Total, Amount of Gain/(Loss) Recognized in AOCI on Derivative, net of Tax	$ 93	$ 193	$ 8	$ 421
Cash Flow Hedging Relationships, Amount of Gain/(Loss) Reclassified from AOCI into Income, net of Tax	(1)	0	(1)	(1)
Total, Amount of Gain/(Loss) Reclassified from AOCI into Income, net of Tax	(1)	0	(1)	(1)
Gain Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	13	17	43	38
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	93	193	8	421
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)	13	17	43	38
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)	(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	63	131	0	273
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)	13	17	43	38
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
Cash Flow Hedging Relationships, Amount of Gain/(Loss) Reclassified from AOCI into Income, net of Tax			1	0
Gain Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)			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	30	62	8	148
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	(1)	0	(2)	(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	Sep. 30, 2023	Dec. 31, 2022
Derivative [Line Items]
Cumulative Gains/(Losses), net of tax	$ (652)	$ (643)
Designated as Hedging Instrument
Derivative [Line Items]
Cumulative Gains/(Losses), net of tax	149	140
Net Investment Hedging | Designated as Hedging Instrument
Derivative [Line Items]
Cumulative Gains/(Losses), net of tax	193	185
Net Investment Hedging | Cross currency swaps | Designated as Hedging Instrument
Derivative [Line Items]
Cumulative Gains/(Losses), net of tax	118	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	46	38
Cash Flow Hedging | Designated as Hedging Instrument
Derivative [Line Items]
Cumulative Gains/(Losses), net of tax	(44)	(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	$ (45)	$ (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, $ in Millions	Sep. 30, 2023 USD ($)	Sep. 30, 2023 EUR (€)	Sep. 30, 2023 GBP (£)	Sep. 30, 2023 JPY (¥)	Sep. 30, 2023 CAD ($)	Sep. 30, 2023 SGD ($)	Sep. 30, 2023 INR (₨)	Sep. 30, 2023 AUD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 EUR (€)	Dec. 31, 2022 GBP (£)	Dec. 31, 2022 JPY (¥)	Dec. 31, 2022 CAD ($)	Dec. 31, 2022 SGD ($)	Dec. 31, 2022 INR (₨)	Dec. 31, 2022 AUD ($)
Contracts to sell USD for GBP
Derivative [Line Items]
Notional Amount	$ 486		£ 378						$ 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	146				$ 195				87				$ 120
Contracts to sell USD for Singapore dollars
Derivative [Line Items]
Notional Amount	61					$ 82			50					$ 70
Contracts to sell USD for euros
Derivative [Line Items]
Notional Amount	98	€ 90							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	0	€ 0							89	€ 85
Contracts to sell AUD for USD
Derivative [Line Items]
Notional Amount	$ 8							$ 5	$ 0							$ 0

Derivative Instruments And H_11

Derivative Instruments And Hedging Activities - Summary of Net Gain (Loss) on Foreign Exchange Forwards Not Designated as Hedging Instruments (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 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	$ (25)	$ (46)	$ (10)	$ (103)

Derivative Instruments And H_12

Derivative Instruments And Hedging Activities - Fair Value of Derivative Instruments (Detail) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Assets	$ 27	$ 46
Liabilities	1,706	1,653
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liabilities	351	317
Designated as Hedging Instrument | Long-term debt | Net Investment Hedging
Derivatives, Fair Value [Line Items]
Liabilities	1,323	1,334
Designated as Hedging Instrument | Currency Swap | Other assets | Net Investment Hedging
Derivatives, Fair Value [Line Items]
Assets	27	27
Designated as Hedging Instrument | Currency Swap | Other liabilities | Net Investment Hedging
Derivatives, Fair Value [Line Items]
Liabilities	78	78
Designated as Hedging Instrument | Interest Rate Swap | Other liabilities | Fair Value Hedging
Derivatives, Fair Value [Line Items]
Liabilities	273	239
Not Designated as Accounting Hedges | FX forwards | Other current assets
Derivatives, Fair Value [Line Items]
Assets	0	19
Not Designated as Accounting Hedges | FX forwards | Accounts payable and accrued liabilities
Derivatives, Fair Value [Line Items]
Liabilities	$ 32	$ 2

Goodwill And Other Acquired I_3

Goodwill And Other Acquired Intangible Assets - Activity in Goodwill (Detail) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 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	(11)	(252)
Ending balance, goodwill gross	5,843	5,851
Ending balance, Accumulated impairment charge	(12)	(12)
Ending balance, goodwill net	5,831	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	(9)	(229)
Ending balance, goodwill gross	5,555	5,474
Ending balance, Accumulated impairment charge	(12)	(12)
Ending balance, goodwill net	5,543	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	(2)	(23)
Ending balance, goodwill gross	288	377
Ending balance, Accumulated impairment charge	0	0
Ending balance, goodwill net	$ 288	$ 377

Goodwill And Other Acquired I_4

Goodwill And Other Acquired Intangible Assets - Acquired Intangible Assets and Related Amortization (Detail) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, net	$ 2,058	$ 2,210
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, gross	2,021	2,024
Accumulated amortization	(520)	(453)
Acquired intangible assets, net	1,501	1,571
Software/product technology
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, gross	659	661
Accumulated amortization	(338)	(283)
Acquired intangible assets, net	321	378
Database
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, gross	178	178
Accumulated amortization	(78)	(64)
Acquired intangible assets, net	100	114
Trade names
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, gross	196	197
Accumulated amortization	(68)	(58)
Acquired intangible assets, net	128	139
Other
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, gross	52	52
Accumulated amortization	(44)	(44)
Acquired intangible assets, net	$ 8	$ 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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 49	$ 48	$ 150	$ 150

Restructuring - Additional Info

Restructuring - Additional Information (Detail) - 2022 - 2023 Geolocation Restructuring Program - USD ($) $ in Millions	9 Months Ended	27 Months Ended
	Sep. 30, 2023	Dec. 31, 2024
Restructuring Cost and Reserve [Line Items]
Payments for restructuring	$ 70
Minimum | Forecast
Restructuring Cost and Reserve [Line Items]
Payments for restructuring		$ 130
Minimum | Termination or Sublease of Affected Real Estate Leases
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost	55
Minimum | Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost	130
Minimum | Estimated Annual Savings
Restructuring Cost and Reserve [Line Items]
Effect on future earnings, amount	145
Maximum | Forecast
Restructuring Cost and Reserve [Line Items]
Payments for restructuring		$ 140
Maximum | Termination or Sublease of Affected Real Estate Leases
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost	65
Maximum | Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost	140
Maximum | Estimated Annual Savings
Restructuring Cost and Reserve [Line Items]
Effect on future earnings, amount	$ 165

Restructuring - Restructuring E

Restructuring - Restructuring Expenses Included in Consolidated Statements of Operations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring	$ 27	$ 1	$ 51	$ 32
Operating lease right-of-use assets	298		298		$ 346
Real Estate
Restructuring Cost and Reserve [Line Items]
Restructuring	10	0	12	0
Operating lease right-of-use assets	4		4
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring	17	1	39	32
2020 MA Strategic Reorganization Restructuring Program
Restructuring Cost and Reserve [Line Items]
Restructuring			0	(1)
2020 MA Strategic Reorganization Restructuring Program | Real Estate
Restructuring Cost and Reserve [Line Items]
Restructuring			0	0
2020 MA Strategic Reorganization Restructuring Program | Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring			0	(1)
2022 - 2023 Geolocation Restructuring Program
Restructuring Cost and Reserve [Line Items]
Restructuring	27	1	51	33
2022 - 2023 Geolocation Restructuring Program | Real Estate
Restructuring Cost and Reserve [Line Items]
Restructuring	10	0	12	0
2022 - 2023 Geolocation Restructuring Program | Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring	$ 17	$ 1	$ 39	$ 33

Restructuring - Changes in Rest

Restructuring - Changes in Restructuring Liability (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Restructuring Reserve [Roll Forward]
Restructuring liability, Beginning Balance	$ 65
Restructuring liability, Ending Balance	$ 34
Restructuring, incurred cost, statement of income or comprehensive income	Restructuring charges
2022 - 2023 Geolocation Restructuring Program
Restructuring Reserve [Roll Forward]
Cost incurred and adjustments	$ 39
Cash payments and adjustments	(70)
Cost incurred to date	164
2022 - 2023 Geolocation Restructuring Program | Employee Severance
Restructuring Reserve [Roll Forward]
Cost incurred to date	124
2022 - 2023 Geolocation Restructuring Program | Real Estate
Restructuring Reserve [Roll Forward]
Cost incurred to date	39
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	Sep. 30, 2023	Dec. 31, 2022
Assets:
Total	$ 134	$ 117
Liabilities:
Total	383	319
Derivatives
Assets:
Derivatives	27	46
Liabilities:
Derivatives	383	319
Money market funds/mutual funds
Assets:
Money market funds/mutual funds	107
Mutual funds
Assets:
Money market funds/mutual funds		71
Level 1
Assets:
Total	107	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	107
Level 1 | Mutual funds
Assets:
Money market funds/mutual funds		71
Level 2
Assets:
Total	27	46
Liabilities:
Total	383	319
Level 2 | Derivatives
Assets:
Derivatives	27	46
Liabilities:
Derivatives	383	319
Level 2 | Money market funds/mutual funds
Assets:
Money market funds/mutual funds	$ 0
Level 2 | Mutual funds
Assets:
Money market funds/mutual funds		$ 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	Sep. 30, 2023	Dec. 31, 2022
Other current assets:
Prepaid taxes	$ 125	$ 235
Prepaid expenses	137	119
Capitalized costs to obtain and fulfill sales contracts	107	106
Foreign exchange forwards on certain assets and liabilities	0	19
Interest receivable on interest rate and cross currency swaps	50	74
Other	26	30
Total other current assets	445	583
Other assets:
Investments in non-consolidated affiliates	521	517
Deposits for real-estate leases	14	15
Indemnification assets related to acquisitions	109	110
Mutual funds and fixed deposits	98	87
Company owned life insurance (at contract value)	46	40
Costs to obtain sales contracts	178	171
Derivative instruments designated as accounting hedges	27	27
Pension and other retirement employee benefits	40	40
Other	97	85
Total other assets	1,130	1,092
Accounts payable and accrued liabilities:
Salaries and benefits	108	104
Incentive compensation	244	276
Customer credits, advanced payments and advanced billings	89	102
Dividends	20	6
Professional service fees	58	49
Accrued interest	47	93
Accounts payable	41	52
Income taxes	96	86
Pension and other retirement employee benefits	7	7
Accrued royalties	22	23
Foreign exchange forwards on certain assets and liabilities	32	2
Restructuring liability	34	65
Interest payable on interest rate and cross currency swaps	50	51
Other	90	95
Total accounts payable and accrued liabilities	938	1,011
Other liabilities:
Pension and other retirement employee benefits	180	189
Interest accrued on UTPs	34	47
MAKS indemnification provisions	19	23
Income tax liability - non-current portion	15	48
Derivative instruments designated as accounting hedges	351	317
Other	48	50
Total other liabilities	$ 647	$ 674

OTHER BALANCE SHEET AND STATE_4

OTHER BALANCE SHEET AND STATEMENTS OF OPERATIONS INFORMATION - Investments in Non-Consolidated Affiliates (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Other Balance Sheet And Statement Of Operations Information [Abstract]
Equity method investments	$ 189	$ 187
Investments measured using the measurement alternative	325	325
Other	7	5
Total investments in non-consolidated affiliates	$ 521	$ 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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Other Balance Sheet And Statement Of Operations Information [Abstract]
FX gain (loss)	$ 2	$ 13	$ (29)	$ (9)
Net periodic pension costs - other components	8	6	26	18
Income from investments in non-consolidated affiliates	9	10	12	14
Gain (loss) on investments	0	(3)	11	(19)
Other	(1)	0	11	18
Total	$ 18	26	31	22
Loss recorded pursuant to an immaterial out-of-period adjustment, net of tax			23
FX translation losses reclassified to net income		20	0	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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Other non-operating income, net	$ 18	$ 26	$ 31	$ 22
Provision for income taxes	(97)	(78)	(217)	(305)
Net income (loss) attributable to parent	389	303	1,267	1,128
Reclassification out of Accumulated Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Net income (loss) attributable to parent	0	(1)	1	(23)
Foreign Currency Translation Adjustments | Reclassification out of Accumulated Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Other non-operating income, net			0	(20)
Net income (loss) attributable to parent			0	(20)
Losses on cash flow hedges | Reclassification out of Accumulated Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Provision for income taxes	0	1	1	1
Net income (loss) attributable to parent	(1)	0	(1)	(1)
Losses on cash flow hedges | Reclassification out of Accumulated Other Comprehensive Income | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Other non-operating income, net	(1)	(1)	(2)	(2)
Amortization of actuarial gains/prior service credits and settlement credit included in net income | Reclassification out of Accumulated Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Other non-operating income, net	1	(1)	3	(2)
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
Net income (loss) attributable to parent	$ 1	$ (1)	$ 2	$ (2)

Comprehensive Income And Accu_4

Comprehensive Income And Accumulated Other Comprehensive Loss - Changes in Components of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			$ 2,519
Ending balance	$ 3,191		3,191
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(570)	$ (599)	(643)	$ (410)
Other comprehensive income/(loss) before reclassifications	(82)	(150)	(8)	(361)
Amounts reclassified from AOCL	0	1	(1)	23
Other comprehensive income/(loss)	(82)	(149)	(9)	(338)
Ending balance	(652)	(748)	(652)	(748)
Pension and Other Retirement Benefits
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(48)	(46)	(47)	(49)
Other comprehensive income/(loss) before reclassifications	1	0	1	2
Amounts reclassified from AOCL	(1)	1	(2)	2
Other comprehensive income/(loss)	0	1	(1)	4
Ending balance	(48)	(45)	(48)	(45)
Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(45)	(46)	(45)	(47)
Other comprehensive income/(loss) before reclassifications	0	0	0	0
Amounts reclassified from AOCL	1	0	1	1
Other comprehensive income/(loss)	1	0	1	1
Ending balance	(44)	(46)	(44)	(46)
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(577)	(756)	(736)	(335)
Other comprehensive income/(loss) before reclassifications	(176)	(343)	(17)	(784)
Amounts reclassified from AOCL	0	0	0	20
Other comprehensive income/(loss)	(176)	(343)	(17)	(764)
Ending balance	(753)	(1,099)	(753)	(1,099)
Net Investment Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	100	249	185	21
Other comprehensive income/(loss) before reclassifications	93	193	8	421
Amounts reclassified from AOCL	0	0	0	0
Other comprehensive income/(loss)	93	193	8	421
Ending balance	$ 193	$ 442	$ 193	$ 442

Indebtedness - Summary of Total

Indebtedness - Summary of Total Indebtedness (Detail) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Principal Amount	$ 7,223	$ 7,734
Fair Value of Interest Rate Swap	(274)	(239)
Unamortized (Discount) Premium	(51)	(55)
Unamortized Debt Issuance Costs	(47)	(51)
Carrying Amount	$ 6,851	$ 7,389
4.875% 2013 Senior Notes, due 2024
Debt Instrument [Line Items]
Notes payable, interest rate		4.875%
Principal Amount		$ 500
Fair Value of Interest Rate Swap		0
Unamortized (Discount) Premium		(1)
Unamortized Debt Issuance Costs		(1)
Carrying Amount		$ 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	(46)	(42)
Unamortized (Discount) Premium	3	3
Unamortized Debt Issuance Costs	(4)	(4)
Carrying Amount	$ 553	$ 557
1.75% 2015 Senior Notes, due 2027
Debt Instrument [Line Items]
Notes payable, interest rate	1.75%	1.75%
Principal Amount	$ 529	$ 534
Fair Value of Interest Rate Swap	0	0
Unamortized (Discount) Premium	0	0
Unamortized Debt Issuance Costs	(1)	(2)
Carrying Amount	$ 528	$ 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	(2)	(3)
Unamortized Debt Issuance Costs	(2)	(2)
Carrying Amount	$ 459	$ 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	(49)	(42)
Unamortized (Discount) Premium	(2)	(2)
Unamortized Debt Issuance Costs	(2)	(2)
Carrying Amount	$ 347	$ 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	(48)	(44)
Unamortized (Discount) Premium	(6)	(6)
Unamortized Debt Issuance Costs	(3)	(4)
Carrying Amount	$ 343	$ 346
0.950% Senior Notes Due 2030
Debt Instrument [Line Items]
Notes payable, interest rate	0.95%	0.95%
Principal Amount	$ 794	$ 800
Fair Value of Interest Rate Swap	0	0
Unamortized (Discount) Premium	(2)	(2)
Unamortized Debt Issuance Costs	(4)	(4)
Carrying Amount	$ 788	$ 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	(22)	(27)
Unamortized (Discount) Premium	0	(1)
Unamortized Debt Issuance Costs	(2)	(3)
Carrying Amount	$ 676	$ 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	(6)	(7)
Unamortized Debt Issuance Costs	(4)	(4)
Carrying Amount	$ 590	$ 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	(56)	(35)
Unamortized (Discount) Premium	(8)	(8)
Unamortized Debt Issuance Costs	(5)	(5)
Carrying Amount	$ 431	$ 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	(16)	(12)
Unamortized (Discount) Premium	(2)	(2)
Unamortized Debt Issuance Costs	(4)	(4)
Carrying Amount	$ 478	$ 482

Indebtedness - Additional Infor

Indebtedness - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Debt Instrument [Line Items]
Debt instrument, covenant compliance	At September 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 September 30, 2023, there were no such cross defaults.
Twenty Thirteen Senior Notes
Debt Instrument [Line Items]
Repayments of debt	$ 500

Indebtedness - Principal Paymen

Indebtedness - Principal Payments Due on Long-Term Borrowings (Detail) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
2023 (After September 30,)	$ 0
2024	0
2025	700
2026	0
2027	529
Thereafter	5,994
Total principal payment	$ 7,223	$ 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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Debt Disclosure [Abstract]
Income	$ 19	$ 5	$ 44	$ 9
Expense on borrowings	(75)	(54)	(220)	(152)
Income (expense) on UTPs and other tax related liabilities	(4)	(5)	10	(11)
Net periodic pension costs - interest component	(6)	(4)	(19)	(12)
Interest expense, net	(66)	(58)	(185)	(166)
Interest paid	$ 87	$ 77	230	$ 167
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	Sep. 30, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Carrying Amount	$ 6,851	$ 7,389
Estimated Fair Value	$ 5,844	$ 6,564

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Lessee, Lease, Description [Line Items]
Restructuring charges	$ 27	$ 1	$ 51	$ 32
2022 - 2023 Geolocation Restructuring Program
Lessee, Lease, Description [Line Items]
Restructuring charges	27	1	51	33
Real Estate
Lessee, Lease, Description [Line Items]
Restructuring charges	10	0	12	0
Real Estate | 2022 - 2023 Geolocation Restructuring Program
Lessee, Lease, Description [Line Items]
Restructuring charges	$ 10	$ 0	$ 12	$ 0
Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, renewal term (years)	1 year		1 year
Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, renewal term (years)	20 years		20 years

Leases - Components of Lease Co

Leases - Components of Lease Cost (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Lease, Cost [Abstract]
Operating lease cost	$ 23	$ 25	$ 70	$ 77
Sublease income	(1)	(2)	(5)	(6)
Variable lease cost	6	5	16	15
Total lease cost	$ 28	$ 28	$ 81	$ 86

Leases - Operating Leases Infor

Leases - Operating Leases Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 30	$ 29	$ 90	$ 89
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 1	$ 1	$ 25	$ 31
Weighted-average remaining lease term (years)	4 years 7 months 6 days	5 years 1 month 6 days	4 years 7 months 6 days	5 years 1 month 6 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	Sep. 30, 2023	Dec. 31, 2022
Leases [Abstract]
2023 (After September 30,)	$ 29
2024	115
2025	103
2026	84
2027	68
After 2027	53
Total lease payments (undiscounted)	452
Less: Interest	31
Present value of lease liabilities:	421
Lease liabilities - current	105	$ 106
Lease liabilities - noncurrent	$ 316	$ 368

Segment Information - Additiona

Segment Information - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 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	$ 130
Employee Severance | 2022 - 2023 Geolocation Restructuring Program | Maximum
Segment Reporting Information [Line Items]
Restructuring expected cost	$ 140
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	$ 100
MA | 2022 - 2023 Geolocation Restructuring Program | Maximum
Segment Reporting Information [Line Items]
Restructuring expected cost	$ 110
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	$ 85
MIS | 2022 - 2023 Geolocation Restructuring Program | Maximum
Segment Reporting Information [Line Items]
Restructuring expected cost	$ 95

Segment Information - Financial

Segment Information - Financial Information by Segment (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information, Operating Income (Loss) [Abstract]
Revenue	$ 1,472	$ 1,275	$ 4,436	$ 4,178
Operating, SG&A	815	778	2,470	2,327
Adjusted Operating Income	657	497	1,966	1,851
Depreciation and amortization	95	83	276	242
Restructuring	27	1	51	32
Operating income	535	413	1,639	1,577
Eliminations
Segment Reporting Information, Operating Income (Loss) [Abstract]
Revenue	(50)	(45)	(148)	(134)
Operating, SG&A	(50)	(45)	(148)	(134)
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	776	685	2,260	2,055
MA | Eliminations
Segment Reporting Information, Operating Income (Loss) [Abstract]
Revenue	3	2	10	5
MA | Operating Segments
Segment Reporting Information, Operating Income (Loss) [Abstract]
Revenue	779	687	2,270	2,060
Operating, SG&A	517	479	1,584	1,423
Adjusted Operating Income	262	208	686	637
Depreciation and amortization	76	62	220	182
Restructuring	22	1	38	17
MIS
Segment Reporting Information, Operating Income (Loss) [Abstract]
Revenue	696	590	2,176	2,123
MIS | Eliminations
Segment Reporting Information, Operating Income (Loss) [Abstract]
Revenue	47	43	138	129
MIS | Operating Segments
Segment Reporting Information, Operating Income (Loss) [Abstract]
Revenue	743	633	2,314	2,252
Operating, SG&A	348	344	1,034	1,038
Adjusted Operating Income	395	289	1,280	1,214
Depreciation and amortization	19	21	56	60
Restructuring	$ 5	$ 0	$ 13	$ 15

Segment Information - Cumulativ

Segment Information - Cumulative Restructuring Expense (Details) - 2022 - 2023 Geolocation Restructuring Program $ in Millions	Sep. 30, 2023 USD ($)
Segment Reporting Information [Line Items]
Cost incurred to date	$ 164
MA
Segment Reporting Information [Line Items]
Cost incurred to date	87
MIS
Segment Reporting Information [Line Items]
Cost incurred to date	$ 77

Segment Information - Consolida

Segment Information - Consolidated Revenue Information by Geographic Area (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Revenue	$ 1,472	$ 1,275	$ 4,436	$ 4,178
United States
Segment Reporting Information [Line Items]
Revenue	768	668	2,320	2,214
Non-U.S.
Segment Reporting Information [Line Items]
Revenue	704	607	2,116	1,964
EMEA
Segment Reporting Information [Line Items]
Revenue	455	393	1,376	1,271
Asia-Pacific
Segment Reporting Information [Line Items]
Revenue	145	129	442	422
Americas
Segment Reporting Information [Line Items]
Revenue	$ 104	$ 85	$ 298	$ 271

Subsequent Event - Additional I

Subsequent Event - Additional Information (Detail) - Subsequent Event	Oct. 23, 2023 $ / shares
Subsequent Event [Line Items]
Dividend declared, declaration date	Oct. 23, 2023
Dividend declared, per share (in USD per share)	$ 0.77
Dividend declared, payable date	Dec. 15, 2023
Dividend declared, record date	Nov. 24, 2023