COGNIZANT TECHNOLOGY SOLUTIONS CORP, 10-Q filed on 5/1/2025
Quarterly Report
v3.25.1
Cover - shares
 3 Months Ended
Mar. 31, 2025
Apr. 25, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2025  
Document Transition Report false  
Entity File Number 0-24429  
Entity Registrant Name COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 13-3728359  
Entity Address, Address Line One 300 Frank W. Burr Blvd.  
Entity Address, City or Town Teaneck  
Entity Address, State or Province NJ  
Entity Address, Postal Zip Code 07666  
City Area Code 201  
Local Phone Number 801-0233  
Title of 12(b) Security Class A Common Stock, $0.01 par value per share  
Trading Symbol CTSH  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   492,941,963
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q1  
Entity Central Index Key 0001058290  
Current Fiscal Year End Date --12-31  
Amendment Flag false  
v3.25.1
Consolidated Statements Of Financial Position (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 1,980 $ 2,231
Short-term investments 12 12
Trade accounts receivable, net 4,239 4,059
Other current assets 1,314 1,202
Total current assets 7,545 7,504
Property and equipment, net 988 994
Operating lease assets, net 555 552
Goodwill 7,006 6,953
Intangible assets, net 1,555 1,599
Deferred income tax assets, net 1,216 1,248
Long-term investments 94 90
Other noncurrent assets 1,008 1,026
Total assets 19,967 19,966
Current liabilities:    
Accounts payable 326 340
Deferred revenue 519 450
Short-term debt 33 33
Operating lease liabilities 155 152
Accrued expenses and other current liabilities 2,373 2,610
Total current liabilities 3,406 3,585
Deferred revenue, noncurrent 33 30
Operating lease liabilities, noncurrent 424 420
Deferred income tax liabilities, net 171 154
Long-term debt 567 875
Other noncurrent liabilities 467 494
Total liabilities 5,068 5,558
Commitments and contingencies (See Note 10)
Stockholders’ equity:    
Preferred stock, $0.10 par value, 15 shares authorized, none issued 0 0
Class A common stock, $0.01 par value, 1,000 shares authorized, 493 and 495 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 5 5
Additional paid-in capital 19 13
Retained earnings 15,040 14,686
Accumulated other comprehensive income (loss) (165) (296)
Total stockholders’ equity 14,899 14,408
Total liabilities and stockholders’ equity $ 19,967 $ 19,966
v3.25.1
Consolidated Statements Of Financial Position (Unaudited) (Parenthetical) - $ / shares
Mar. 31, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Preferred stock, par value (in dollars per share) $ 0.10 $ 0.10
Preferred Stock, Shares Authorized 15,000,000 15,000,000
Preferred Stock, Shares Issued 0 0
Class A common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common Stock, Shares Authorized 1,000,000,000 1,000,000,000
Common Stock, Shares, Issued 493,000,000 495,000,000
Common Stock, Shares, Outstanding 493,000,000 495,000,000
v3.25.1
Consolidated Statements Of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Income Statement [Abstract]    
Revenues $ 5,115 $ 4,760
Operating expenses:    
Cost of revenues (exclusive of depreciation and amortization expense shown separately below) 3,397 3,146
Selling, general and administrative expenses 791 765
Restructuring charges 0 23
Depreciation and amortization expense 136 131
(Gain) on sale of property and equipment (62) 0
Income from operations 853 695
Other income (expense), net:    
Interest income 30 30
Interest expense (12) (11)
Foreign currency exchange gains (losses), net 2 6
Other, net (1) 2
Total other income (expense), net 19 27
Income before provision for income taxes 872 722
Provision for income taxes (213) (179)
Income (Loss) from Equity Method Investments 4 3
Net income $ 663 $ 546
Basic earnings per share (usd per share) $ 1.34 $ 1.10
Diluted earnings per share (usd per share) $ 1.34 $ 1.10
Weighted average number of common shares outstanding - Basic (shares) 494 497
Dilutive effect of shares issuable under stock-based compensation plans (shares) 1 1
Weighted average number of common shares outstanding - Diluted (shares) 495 498
v3.25.1
Consolidated Statements Of Comprehensive Income (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Statement of Comprehensive Income [Abstract]    
Net income $ 663 $ 546
Change in Accumulated other comprehensive income (loss), net of tax:    
Foreign currency translation adjustments 103 (73)
Unrealized gains and losses on cash flow hedges 28 11
Other comprehensive income (loss) 131 (62)
Comprehensive income $ 794 $ 484
v3.25.1
Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)
shares in Millions, $ in Millions
Total
Common Stock
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2023   498      
Beginning balance at Dec. 31, 2023 $ 13,227 $ 5 $ 15 $ 13,301 $ (94)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 546     546  
Other comprehensive income (loss) (62)       (62)
Other comprehensive income (loss) (62)        
Common stock issued, stock-based compensation plans (in shares)   1      
Common stock issued, stock-based compensation plans - value 20   20    
Stock-based compensation expense 42   42    
Repurchases of common stock (in shares)   (2)      
Repurchases of common stock (133)   (57) (76)  
Dividends declared (150)     (150)  
Ending balance (in shares) at Mar. 31, 2024   497      
Ending balance at Mar. 31, 2024 $ 13,490 $ 5 20 13,621 (156)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Dividends declared per common share (in usd per share) $ 0.30        
Beginning balance (in shares) at Dec. 31, 2024 495 495      
Beginning balance at Dec. 31, 2024 $ 14,408 $ 5 13 14,686 (296)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 663     663  
Other comprehensive income (loss) 131       131
Other comprehensive income (loss) 131        
Common stock issued, stock-based compensation plans (in shares)   1      
Common stock issued, stock-based compensation plans - value 19   19    
Stock-based compensation expense 42   42    
Repurchases of common stock (in shares)   (3)      
Repurchases of common stock (210)   (55) (155)  
Dividends declared $ (154)     (154)  
Ending balance (in shares) at Mar. 31, 2025 493 493      
Ending balance at Mar. 31, 2025 $ 14,899 $ 5 $ 19 $ 15,040 $ (165)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Dividends declared per common share (in usd per share) $ 0.31        
v3.25.1
Condensed Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 663 $ 546
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 136 133
Deferred income taxes 54 (26)
Stock-based compensation expense 42 42
(Gain) on sale of property and equipment (62) 0
Other (6) 32
Changes in assets and liabilities, net of effects of businesses acquired:    
Trade accounts receivable, current (177) 39
Other current and noncurrent assets (42) (347)
Accounts payable 9 (47)
Deferred revenues, current and noncurrent 70 50
Other current and noncurrent liabilities (287) (327)
Net cash provided by operating activities 400 95
Cash flows from investing activities:    
Purchases of property and equipment (77) (79)
Proceeds from sale of property and equipment 70 0
Proceeds from maturity of held-to-maturity investment securities 0 3
Proceeds from maturity or sale of other investments 0 259
Payments for business combinations, net of cash acquired 0 (421)
Net cash (used in) investing activities (7) (238)
Cash flows from financing activities:    
Issuance of common stock under stock-based compensation plans 19 20
Repurchases of common stock (209) (133)
Repayment of Term Loan borrowings and earnout and finance lease obligations (12) (40)
Repayment of notes outstanding under the revolving credit facility (300) 0
Dividends paid (155) (151)
Net cash (used in) financing activities (657) (304)
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents 13 (39)
(Decrease) in cash, cash equivalents and restricted cash and cash equivalents (251) (486)
Cash, cash equivalents and restricted cash and cash equivalents beginning of year 2,231 2,717
Cash and cash equivalents, end of period $ 1,980 $ 2,231
v3.25.1
Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Statement of Stockholders' Equity [Abstract]    
Dividends declared per common share (in usd per share) $ 0.31 $ 0.30
v3.25.1
Interim Consolidated Financial Statements
 3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Interim Consolidated Financial Statements
The terms “Cognizant,” “we,” “our,” “us” and “the Company” refer to Cognizant Technology Solutions Corporation and its subsidiaries unless the context indicates otherwise. We have prepared the accompanying unaudited consolidated financial statements included herein in accordance with GAAP and the Exchange Act. The accompanying unaudited consolidated financial statements should be read in conjunction with our audited consolidated financial statements (and notes thereto) included in our Annual Report on Form 10-K for the year ended December 31, 2024. In our opinion, all adjustments considered necessary for a fair statement of the accompanying unaudited consolidated financial statements have been included and all adjustments are of a normal and recurring nature. Operating results for the interim periods are not necessarily indicative of results that may be expected to occur for the entire year.
Sale of Property and Equipment
During the three months ended March 31, 2025, we sold an office complex in India for proceeds of $70 million and recorded a gain on the transaction of $62 million, which was reported in "(Gain) on sale of property and equipment" on our unaudited consolidated statement of operations. As of December 31, 2024, the physical assets held for sale related to this office complex were reported in "Other current assets" as disclosed in Note 6 in our Annual Report on Form 10-K for the ended December 31, 2024.
New Accounting Pronouncements
Date Issued and Topic
Effective Date
DescriptionImpact
December 2023


Income Taxes (Topic 740): Improvements to Income Tax Disclosures
Annual period starting in 2025

Prospective basis
The standard requires enhanced income tax disclosures primarily related to the income tax rate reconciliation and income taxes paid information.
We are currently evaluating the impact of the new standard on our disclosures.
November 2024

Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40)
Annual period starting in 2027 and interim periods starting in 2028

Prospective basis
The standard is intended to improve financial reporting by requiring that public business entities disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods.
We are currently evaluating the impact of the new standard on our disclosures.
v3.25.1
Revenues and Trade Accounts Receivable
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenues and Trade Accounts Receivable
Disaggregation of Revenues

The tables below present disaggregated revenues from contracts with clients by client location, service line and contract type for each of our reportable business segments. We believe this disaggregation best depicts how the nature, amount, timing and uncertainty of revenues and cash flows are affected by industry, market and other economic factors. Our consulting and technology services include consulting, application development, systems integration, quality engineering and assurance services as well as software solutions and related services while our outsourcing services include application maintenance, infrastructure and security as well as business process services. Revenues are attributed to geographic regions based upon client location, which is the client's billing address. Substantially all revenues in the North America region relate to clients in the United States.
Three Months Ended
March 31, 2025
(in millions)
Health Sciences
Financial Services
Products and Resources
Communications, Media and Technology
Total
Revenues
Geography:
North America$1,330 $1,043 $911 $570 $3,854 
United Kingdom49 153 137 118 457 
Continental Europe160 147 153 33 493 
Europe - Total209 300 290 151 950 
Rest of World 32 119 77 83 311 
Total$1,571 $1,462 $1,278 $804 $5,115 
Service line:
Consulting and technology services$870 $1,020 $887 $449 $3,226 
Outsourcing services701 442 391 355 1,889 
Total$1,571 $1,462 $1,278 $804 $5,115 
Type of contract:
Time and materials$481 $764 $556 $434 $2,235 
Fixed-price791 651 634 334 2,410 
Transaction or volume-based299 47 88 36 470 
Total$1,571 $1,462 $1,278 $804 $5,115 
Three Months Ended
March 31, 2024
(in millions)
Health Sciences
Financial Services
Products & Resources
Communications, Media and Technology
Total
Revenues
Geography:
North America$1,209 $977 $773 $562 $3,521 
United Kingdom44 143 131 138 456 
Continental Europe135 151 145 52 483 
Europe - Total179 294 276 190 939 
Rest of World 28 114 84 74 300 
Total$1,416 $1,385 $1,133 $826 $4,760 
Service line:
Consulting and technology services$802 $953 $736 $464 $2,955 
Outsourcing services614 432 397 362 1,805 
Total$1,416 $1,385 $1,133 $826 $4,760 
Type of contract:
Time and materials$490 $783 $470 $467 $2,210 
Fixed-price670 556 582 328 2,136 
Transaction or volume-based256 46 81 31 414 
Total$1,416 $1,385 $1,133 $826 $4,760 
Costs to Fulfill
The following table shows significant movements in the capitalized costs to fulfill for the three months ended March 31:
(in millions)20252024
Beginning balance$209 $245 
Costs capitalized10 14 
Amortization expense(20)(22)
Impairment charge(7)(2)
Ending balance$192 $235 
Costs to obtain contracts were immaterial for the periods disclosed.
Contract Balances
The table below shows significant movements in contract assets (current and noncurrent) for the three months ended March 31:
(in millions)20252024
Beginning balance$386 $316 
Revenues recognized during the period but not billed327 248 
Amounts reclassified to trade accounts receivable(259)(180)
Ending balance$454 $384 
The table below shows significant movements in the deferred revenue balances (current and noncurrent) for the three months ended March 31:
(in millions)20252024
Beginning balance$480 $427 
Amounts billed but not recognized as revenues374 311 
Revenues recognized related to the beginning balance of deferred revenue(302)(262)
Amounts acquired in business combinations— 9 
Ending balance$552 $485 
Revenues recognized during the three months ended March 31, 2025 for performance obligations satisfied or partially satisfied in previous periods were immaterial.
Remaining Performance Obligations
As of March 31, 2025, the aggregate amount of transaction price allocated to remaining performance obligations was $5,627 million, of which approximately 35% is expected to be recognized as revenues within 1 year, approximately 55% is expected to be recognized as revenues within 2 years and approximately 90% is expected to be recognized as revenues within 5 years. Disclosure is not required for performance obligations that meet any of the following criteria:
(1)contracts with a duration of one year or less as determined under ASC Topic 606: "Revenue from Contracts with Customers",
(2)contracts for which we recognize revenues based on the right to invoice for services performed,
(3)variable consideration allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct good or service that forms part of a single performance obligation in accordance with ASC 606-10-25-14(b), for which the criteria in ASC 606-10-32-40 have been met, or
(4)variable consideration in the form of a sales-based or usage-based royalty promised in exchange for a license of intellectual property.
Many of our performance obligations meet one or more of these exemptions and therefore are not included in the remaining performance obligation amount disclosed above.
Trade Accounts Receivable and Allowance for Credit Losses
The following table presents the activity in the allowance for credit losses for trade accounts receivable for the three months ended March 31:
(in millions)20252024
Beginning balance$26 $32 
Credit loss expense (1)
4 1 
Write-offs charged against the allowance(2)(3)
Ending balance$28 $30 
(1)Reported in "Selling, general and administrative expenses" in our unaudited consolidated statements of operations.
v3.25.1
Restructuring Charges
 3 Months Ended
Mar. 31, 2025
Restructuring and Related Activities [Abstract]  
Restructuring Charges
At the end of 2024, we completed our NextGen program. NextGen charges for the three months ended March 31, 2024 were $23 million and included $8 million of employee separation costs, $14 million of facility exit costs and $1 million of third party and other costs. We did not incur any costs related to the NextGen program during the three months ended March 31, 2025.
The costs related to our NextGen program are reported in "Restructuring charges" in our consolidated statements of operations. We do not allocate these charges to individual segments in internal management reports used by the CODM. Accordingly, such expenses are separately disclosed in our segment reporting as “unallocated costs.” See Note 11.
Changes in our accrued employee separation costs included in "Accrued expenses and other current liabilities" in our unaudited consolidated statements of financial position are presented in the table below for the three months ended March 31:
(in millions)20252024
Beginning balance$35 $42 
Employee separation costs accrued— 8 
Payments made(20)(21)
Ending balance$15 $29 
v3.25.1
Accrued Expenses And Other Current Liabilities
 3 Months Ended
Mar. 31, 2025
Payables and Accruals [Abstract]  
Accrued Expenses And Other Current Liabilities
Accrued expenses and other current liabilities were as follows:
(in millions)March 31, 2025December 31, 2024
Compensation and benefits$1,171 $1,499 
Customer volume and other incentives261 247 
Liabilities related to the resale of third-party products
245 154 
Professional fees185 171 
Income taxes128 100 
Other383 439 
Total accrued expenses and other current liabilities$2,373 $2,610 
v3.25.1
Debt
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Debt
We have a Credit Agreement providing for a $650 million Term Loan and a $1,850 million unsecured revolving credit facility, which are each due to mature in October 2027. During the third quarter of 2024, we borrowed $600 million under our revolving credit facility to partially fund the acquisition of Belcan. We repaid $300 million during the fourth quarter of 2024 and the remaining $300 million during the first quarter of 2025.
The Credit Agreement requires interest to be paid, at our option, at either the Term Benchmark, Adjusted Daily Simple RFR or the ABR Rate (each as defined in the Credit Agreement), plus, in each case, an Applicable Margin (as defined in the Credit Agreement). Initially, the Applicable Margin is 0.875% with respect to Term Benchmark loans and RFR loans and 0.00% with respect to ABR loans. Subsequently, the Applicable Margin with respect to Term Benchmark loans and RFR loans will be determined quarterly and may range from 0.75% to 1.125%, depending on our public debt ratings or, if we have not received public debt ratings, from 0.875% to 1.125%, depending on our Leverage Ratio, which is the ratio of indebtedness for borrowed money to Consolidated EBITDA, as defined in the Credit Agreement. Since issuance of the Term Loan, the Term Loan has been a Term Benchmark loan. The Credit Agreement contains customary affirmative and negative covenants as well as a financial covenant. We were in compliance with all debt covenants and representations of the Credit Agreement as of March 31, 2025.
Short-term Debt
As of each of March 31, 2025 and December 31, 2024, we had $33 million of short-term debt related to current maturities of our Term Loan.
Long-term Debt
The following table summarizes the long-term debt balances as of:
(in millions)March 31, 2025December 31, 2024
Notes outstanding under revolving credit facility$— $300 
Term Loan602 610 
Less:
Current maturities - Term Loan
(33)(33)
Unamortized deferred financing costs(2)(2)
Long-term debt, net of current maturities$567 $875 
The carrying value of our debt approximated its fair value as of March 31, 2025 and December 31, 2024.
v3.25.1
Income Taxes
 3 Months Ended
Mar. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes
Our effective income tax rates were as follows:
 Three Months Ended
March 31,
 20252024
Effective income tax rate24.4 %24.8 %
We are involved in two separate ongoing disputes with the ITD in connection with previously disclosed share repurchase transactions undertaken by CTS India in 2013 and 2016 to repurchase shares from its shareholders (non-Indian Cognizant entities) valued at $523 million and $2.8 billion, respectively.
The 2016 transaction was undertaken pursuant to a plan approved by the High Court in Chennai, India, and resulted in the payment of $135 million in Indian income taxes - an amount we believe includes all the applicable taxes owed for this transaction under Indian law. In March 2018, the ITD asserted that it is owed an additional 33 billion Indian rupees ($386 million at the March 31, 2025 exchange rate) on the 2016 transaction. We deposited 5 billion Indian rupees, representing 15% of the disputed tax amount related to the 2016 transaction, with the ITD. Additionally, certain time deposits of CTS India were placed under lien in favor of the ITD, representing the remainder of the disputed tax amount.

In April 2020, we received a formal assessment from the ITD on the 2016 transaction, which is consistent with the ITD's previous assertions. Our appeal was ruled unfavorably by the CITA in March 2022 and by the ITAT in September 2023. We filed an appeal against the order of the ITAT with the High Court. On January 8, 2024, the SCI ruled that, in order to proceed with the appeal, we must deposit 30 billion Indian rupees, representing the time deposits of CTS India under lien, on the condition that, if CTS India prevails at the High Court, the amount deposited will be returned to CTS India, along with interest accrued, within four weeks of the judgment. We made the required deposit in January 2024 and the case is pending before the High Court.

As of March 31, 2025 and December 31, 2024, the deposit with the ITD was $404 million and $403 million, respectively, presented in "Other noncurrent assets".
The dispute in relation to the 2013 share repurchase transaction is also in litigation. At this time, the ITD has not made specific demands with regards to the 2013 transaction.
 
We continue to believe we have paid all applicable taxes owed on both the 2016 and the 2013 transactions and we continue to defend our positions with respect to both matters. Accordingly, we have not recorded any reserves for these matters as of March 31, 2025.
v3.25.1
Derivative Financial Instruments
 3 Months Ended
Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments
In the normal course of business, we use foreign exchange forward and option contracts to manage foreign currency exchange rate risk. Derivatives may give rise to credit risk from the possible non-performance by counterparties. Credit risk is limited to the fair value of those contracts that are favorable to us. We have limited our credit risk by limiting the amount of credit exposure with any one financial institution and conducting ongoing evaluation of the creditworthiness of the financial institutions with which we do business. In addition, all the assets and liabilities related to the foreign exchange derivative contracts set forth in the table below are subject to master netting arrangements, such as the International Swaps and Derivatives Association Master Agreement, with each individual counterparty. These master netting arrangements generally provide for net settlement of all outstanding contracts with the counterparty in the case of an event of default or a termination event. We have presented all the assets and liabilities related to the foreign exchange derivative contracts, as applicable, on a gross basis, with no offsets, in our unaudited consolidated statements of financial position. There is no financial collateral (including cash collateral) posted or received by us related to the foreign exchange derivative contracts.
The following table provides information on the location and fair values of derivative financial instruments included in our unaudited consolidated statements of financial position as of:
 (in millions) March 31, 2025December 31, 2024
Designation of DerivativesLocation on Statement of
Financial Position		AssetsLiabilitiesAssets  Liabilities
Foreign exchange forward and option contracts – Designated as cash flow hedging instrumentsOther current assets$7 $— $1 $— 
Other noncurrent assets6 — — — 
Accrued expenses and other current liabilities— 7 — 22 
Other noncurrent liabilities— 2 — 13 
Total13 9 1 35 
Foreign exchange forward contracts – Not designated as hedging instrumentsOther current assets2 — 1 — 
Accrued expenses and other current liabilities— 2 — 2 
Total2 2 1 2 
Total$15 $11 $2 $37 
Cash Flow Hedges
We have entered and continue to enter into a series of foreign exchange derivative contracts that are designated as cash flow hedges of Indian rupee denominated payments in India. These contracts are intended to partially offset the impact of movement of the Indian rupee against the U.S. dollar on future operating costs and are scheduled to mature each month during the remainder of 2025, 2026 and the first three months of 2027. The changes in fair value of these contracts are initially reported in "Accumulated other comprehensive income (loss)" in our unaudited consolidated statements of financial position and are subsequently reclassified to earnings within "Cost of revenues" and "Selling, general and administrative expenses" in our unaudited consolidated statements of operations in the same period that the forecasted Indian rupee denominated payments are recorded in earnings. As of March 31, 2025, we estimate less than $1 million, net of tax, of net losses related to derivatives designated as cash flow hedges reported in "Accumulated other comprehensive income (loss)" in our unaudited consolidated statements of financial position is expected to be reclassified into earnings within the next 12 months.
The notional value of the outstanding contracts by year of maturity was as follows:
(in millions)March 31, 2025December 31, 2024
20251,610 $2,010 
20261,175 920 
2027125 — 
Total notional value of contracts outstanding (1)
$2,910 $2,930 
(1)Includes $63 million notional value of option contracts as of March 31, 2025 with the remaining notional value related to forward contracts. There were no option contracts as of December 31, 2024.
The activity related to the change in net unrealized gains and losses on the cash flow hedges included in "Accumulated other comprehensive income (loss)" in our unaudited consolidated statements of stockholders' equity is presented in Note 9.
Other Derivatives
We use foreign exchange forward contracts to provide an economic hedge against balance sheet exposures to certain monetary assets and liabilities denominated in currencies other than the functional currency of our foreign subsidiaries. We entered into foreign exchange forward contracts that are scheduled to mature in the second quarter of 2025. Realized gains or losses and changes in the estimated fair value of these derivative financial instruments are recorded in the caption "Foreign currency exchange gains (losses), net" in our unaudited consolidated statements of operations.

Additional information related to the outstanding foreign exchange forward contracts not designated as hedging instruments was as follows:
(in millions)March 31, 2025December 31, 2024
NotionalFair ValueNotionalFair Value
Contracts outstanding$801 $— $489 $(1)
The following table provides information on the location and amounts of realized and unrealized pre-tax gains and losses on the other derivative financial instruments for the three months ended March 31:
Location of Net Gains (Losses) on Derivative Instruments
Amount of Net Gains (Losses) on Derivative Instruments
  (in millions)20252024
Foreign exchange forward contracts – Not designated as hedging instrumentsForeign currency exchange gains (losses), net$(1)$31 
The related cash flow impacts of all the derivative activities are reflected as cash flows from operating activities.
v3.25.1
Fair Value Measurements
 3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements
We measure our cash equivalents, certain investments, contingent consideration liabilities and foreign exchange forward and option contracts at fair value. Fair value is the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources while unobservable inputs reflect a reporting entity’s pricing based upon their own market assumptions.
The fair value hierarchy consists of the following three levels:
•Level 1 – Inputs are quoted prices in active markets for identical assets or liabilities.
•Level 2 – Inputs are quoted prices for similar assets or liabilities in an active market, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable and market-corroborated inputs which are derived principally from or corroborated by observable market data.
•Level 3 – Inputs are derived from valuation techniques in which one or more significant inputs or value drivers are unobservable.
The following table summarizes the financial assets and (liabilities) measured at fair value on a recurring basis as of March 31, 2025:
(in millions)Level 1Level 2Level 3Total
Cash equivalents:
Money market funds$29 $— $— $29 
Time deposits— 794 — 794 
Short-term investments:
Time deposits— 1 — 1 
Equity investment security11 — — 11 
Other current assets:
Foreign exchange forward and option contracts
— 9 — 9 
Other noncurrent assets:
Foreign exchange forward contracts— 6 — 6 
Accrued expenses and other current liabilities:
Foreign exchange forward contracts
— (9)— (9)
Other noncurrent liabilities:
Foreign exchange forward contracts— (2)— (2)
The following table summarizes the financial assets and (liabilities) measured at fair value on a recurring basis as of December 31, 2024:
(in millions)Level 1Level 2Level 3Total
Cash equivalents:
Money market funds$40 $— $— $40 
Time deposits— 991 — 991 
Short-term investments:
Time deposits— 1 — 1 
Equity investment security11 — — 11 
Other current assets:
Foreign exchange forward contracts— 2 — 2 
Accrued expenses and other current liabilities:
Foreign exchange forward contracts— (24)— (24)
Other noncurrent liabilities:
Foreign exchange forward contracts— (13)— (13)
During the three months ended March 31, 2024, we made $30 million of payments related to Level 3 contingent consideration liabilities, which reduced the balance of these liabilities to zero. For the three months ended March 31, 2025, we did not have any Level 3 contingent consideration liabilities.
We measure the fair value of money market funds based on quoted prices in active markets for identical assets and measure the fair value of our equity investment security based on the published daily net asset value at which investors can freely subscribe to or redeem from the fund. The carrying value of the time deposits approximated fair value as of March 31, 2025 and December 31, 2024.
We estimate the fair value of each foreign exchange forward contract by using a present value of expected cash flows model. This model calculates the difference between the current market forward price and the contracted forward price for each foreign exchange forward contract and applies the difference in the rates to each outstanding contract. The market forward rates include a discount and credit risk factor. We estimate the fair value of each foreign exchange option contract by using a variant of the Black-Scholes model. This model uses present value techniques and reflects the time value and intrinsic value based on observable market rates.
During the three months ended March 31, 2025 and the year ended December 31, 2024, there were no transfers among Level 1, Level 2 or Level 3 financial assets and liabilities.
v3.25.1
Accumulated Other Comprehensive Income (Loss)
 3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss)
Changes in "Accumulated other comprehensive income (loss)" by component were as follows for the three months ended March 31, 2025:
 (in millions)Before Tax
Amount		Tax
Effect		Net of Tax
Amount
Foreign currency translation adjustments:
Beginning balance$(261)$7 $(254)
Change in foreign currency translation adjustments97 6 103 
Ending balance$(164)$13 $(151)
Unrealized gains and losses on cash flow hedges:
Beginning balance$(34)$9 $(25)
Unrealized gains arising during the period
30 (8)22 
Reclassifications of net losses to:
Cost of revenues7 (2)5 
SG&A expenses1 — 1 
Net change38 (10)28 
Ending balance$4 $(1)$3 
Losses on defined benefit plans:
Beginning balance$(20)$3 $(17)
Losses on defined benefit plans
— — — 
Ending balance$(20)$3 $(17)
Accumulated other comprehensive income (loss):
Beginning balance$(315)$19 $(296)
Other comprehensive income (loss)135 (4)131 
Ending balance$(180)$15 $(165)
Changes in "Accumulated other comprehensive income (loss)" by component were as follows for the three months ended March 31, 2024:
 (in millions)Before Tax
Amount		Tax
Effect		Net of Tax
Amount
Foreign currency translation adjustments:
Beginning balance$(109)$5 $(104)
Change in foreign currency translation adjustments(74)1 (73)
Ending balance$(183)$6 $(177)
Unrealized gains and losses on cash flow hedges:
Beginning balance$13 $(3)$10 
Unrealized gains arising during the period
15 (4)11 
Ending balance$28 $(7)$21 
Accumulated other comprehensive income (loss):
Beginning balance$(96)$2 $(94)
Other comprehensive income (loss)(59)(3)(62)
Ending balance$(155)$(1)$(156)
v3.25.1
Commitments and Contingencies
 3 Months Ended
Mar. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
We are involved in various claims and legal proceedings arising in the ordinary course of business. We accrue a liability when a loss is considered probable and the amount can be reasonably estimated. When a material loss contingency is reasonably possible but not probable, we do not record a liability, but instead disclose the nature and the amount of the claim, and an estimate of the loss or range of loss, if such an estimate can be made. Legal fees are expensed as incurred. While we do not expect that the ultimate resolution of any existing claims and proceedings (other than the specific matters described below, if decided adversely), individually or in the aggregate, will have a material adverse effect on our financial position, an unfavorable outcome in some or all of these proceedings could have a material adverse impact on results of operations or cash flows for a particular period. This assessment is based on our current understanding of relevant facts and circumstances. As such, our view of these matters is subject to inherent uncertainties and may change in the future.

On January 15, 2015, Syntel sued TriZetto and Cognizant in the USDC-SDNY. Syntel’s complaint alleged breach of contract against TriZetto, and tortious interference and misappropriation of trade secrets against Cognizant and TriZetto, stemming from Cognizant’s hiring of certain former Syntel employees. Cognizant and TriZetto countersued on March 23, 2015, for breach of contract, misappropriation of trade secrets and tortious interference, based on Syntel’s misuse of TriZetto confidential information and abandonment of contractual obligations. Cognizant and TriZetto subsequently added federal DTSA and copyright infringement claims for Syntel’s misuse of TriZetto’s proprietary technology. The parties’ claims were narrowed by the court and the case was tried before a jury, which on October 27, 2020 returned a verdict in favor of Cognizant in the amount of $855 million, including $570 million in punitive damages. On April 20, 2021, the USDC-SDNY issued a post-trial order that, among other things, affirmed the jury’s award of $285 million in actual damages, but reduced the award of punitive damages from $570 million to $285 million, thereby reducing the overall damages award from $855 million to $570 million. The USDC-SDNY subsequently issued a final judgment consistent with the April 20th order. On May 26, 2021, Syntel filed a notice of appeal to the Second Circuit, and on June 3, 2021 the USDC-SDNY stayed execution of judgment pending appeal. On May 25, 2023, the Second Circuit issued an opinion affirming in part and vacating in part the judgment of the USDC-SDNY and remanding the case for further proceedings consistent with its opinion. The Second Circuit affirmed the judgment in all respects on liability but vacated the $570 million award that had been based on avoided development costs under the DTSA, and it remanded the case to the USDC-SDNY for further evaluation of damages. On June 23, 2023, the Second Circuit issued its mandate returning the case to the USDC-SDNY. On March 13, 2024, the USDC-SDNY issued a ruling that vacates the alternate compensatory damages awards that were within the scope of the Second Circuit’s remand and awards TriZetto and Cognizant approximately $15 million in attorney’s fees. On October 23, 2024, the USDC-SDNY granted TriZetto and Cognizant’s motion for a new trial on the amount of compensatory damages owed to TriZetto and Cognizant. On November 12, 2024, the USDC-SDNY scheduled the trial for June 16, 2025. On November 13, 2024, the USDC-SDNY granted Syntel’s request to certify for interlocutory appeal the question of whether the Second Circuit’s mandate permits the USDC-SDNY’s October 23rd order for a new trial on compensatory damages. The parties subsequently completed briefing at the Second Circuit regarding whether the Second Circuit should take up the interlocutory appeal, and on March 7, 2025, the Second Circuit denied Syntel’s request for an interlocutory appeal. On April 9, 2025, the USDC-SDNY rescheduled the trial to begin June 24, 2025. TriZetto and Cognizant will continue to vigorously pursue our claims against Syntel. We will not record any gain in our financial statements until it becomes realizable.
On February 28, 2019, a ruling of the SCI interpreting the India Defined Contribution Obligation altered historical understandings of the obligation, extending it to cover additional portions of the employee’s income. As a result, the ongoing contributions of our affected employees and the Company were required to be increased. In the first quarter of 2019, we accrued $117 million with respect to prior periods, assuming retroactive application of the SCI’s ruling, in "Selling, general and administrative expenses" in our unaudited consolidated statement of operations. There is significant uncertainty as to how the liability should be calculated as it is impacted by multiple variables, including the period of assessment, the application with respect to certain current and former employees and whether interest and penalties may be assessed. Since the ruling, a variety of trade associations and industry groups have advocated to the Indian government, highlighting the harm to the information technology sector, other industries and job growth in India that would result from a retroactive application of the ruling. It is possible the Indian government will review the matter and there is a substantial question as to whether the Indian government will apply the SCI’s ruling on a retroactive basis. As such, the ultimate amount of our obligation may be materially different from the amount accrued.
On October 31, 2016, November 15, 2016 and November 18, 2016, three putative shareholder derivative complaints were filed in New Jersey Superior Court, Bergen County, naming us, all of our then current directors and certain of our current and former officers at that time as defendants. These actions were consolidated in an order dated January 24, 2017. The complaints assert claims for breach of fiduciary duty, corporate waste, unjust enrichment, abuse of control, mismanagement, and/or insider selling by defendants. On April 26, 2017, the New Jersey Superior Court deferred further proceedings by dismissing the
consolidated putative shareholder derivative litigation without prejudice but permitting the parties to file a motion to vacate the dismissal in the future.

On February 22, 2017, April 7, 2017, May 10, 2017 and March 11, 2019, four additional putative shareholder derivative complaints were filed in the USDC-NJ, naming us and certain of our current and former directors and officers at that time as defendants. These actions were consolidated in an order dated May 14, 2019. On August 3, 2020, lead plaintiffs filed a consolidated amended complaint. The consolidated amended complaint asserts claims similar to those in the previously-filed putative shareholder derivative actions. On February 14, 2022, we and certain of our current and former directors and officers moved to dismiss the consolidated amended complaint. On September 27, 2022, the USDC-NJ granted those motions and dismissed the consolidated amended complaint in its entirety with prejudice. Plaintiffs filed a notice of appeal on October 27, 2022. On May 3, 2024, the Third Circuit affirmed the dismissal of the consolidated amended complaint.

On June 1, 2021, an eighth putative shareholder derivative complaint was filed in the USDC-NJ, naming us and certain of our current and former directors and officers at that time as defendants. The complaint asserts claims similar to those in the previously-filed putative shareholder derivative actions. On March 31, 2022, we and certain of our current and former directors and officers moved to dismiss the complaint. On November 30, 2022, the USDC-NJ denied without prejudice those motions. The USDC-NJ ordered the parties to conduct limited discovery related to the issue of whether our board of directors wrongfully refused the plaintiff’s earlier litigation demand and, after the conclusion of such limited discovery, to file targeted motions for summary judgment on the issue of wrongful refusal.
We are presently unable to predict the duration, scope or result of the single putative shareholder derivative action that has not been dismissed. Although the Company continues to defend that putative shareholder derivative action vigorously, it is subject to inherent uncertainties, the actual cost of such litigation will depend upon many unknown factors and the outcome of the litigation is necessarily uncertain.
We have indemnification and expense advancement obligations pursuant to our bylaws and indemnification agreements with respect to certain current and former members of senior management and the Company’s board of directors. In connection with the matters that were the subject of our previously disclosed internal investigation, the DOJ and SEC investigations and the related litigation, we have received requests under such indemnification agreements and our bylaws to provide funds for legal fees and other expenses. There are no amounts remaining available to us under applicable insurance policies for our ongoing indemnification and advancement obligations with respect to certain of our current and former officers and directors or incremental legal fees and other expenses related to the above matters.
See Note 6 for information relating to the ITD Dispute.
On September 18, 2017, three former employees filed suit against Cognizant in the USDC-CDCA, alleging that they and similarly situated employees suffered disparate treatment on the basis of race in violation of 42 U.S.C. § 1981. Plaintiffs subsequently amended their complaint three times, adding a fourth former employee plaintiff and claims for both disparate treatment and disparate impact on the basis of race and national origin under Title VII and disparate treatment and disparate impact on the basis of race and national origin under Title VII. Plaintiffs filed the operative Third Amended Complaint-Corrected on January 19, 2021. Cognizant filed its answer on January 29, 2021.

On May 13, 2022, plaintiffs filed a motion requesting that the USDC-CDCA certify the case as a class action for two putative classes of plaintiffs consisting of: (1) all individuals who are not of South Asian race or Indian national origin who applied to Cognizant in the U.S. and were not hired since September 2013 (the “hiring class”); and (2) all individuals who are not of South Asian race or Indian national origin who have been terminated in the U.S. since September 2013 (the “terminations class”). Cognizant opposed. On October 27, 2022, the court denied certification for the hiring class and the terminations class. However, the court granted certification for a sub-set of the terminations class limited to approximately 2,300 former employees whose employment had been terminated from the “bench,” a designation for employees who are not allocated to an active project. On November 10, 2022, Cognizant filed a petition with the Ninth Circuit requesting permission to appeal the class certification order as to the bench terminations class. The Ninth Circuit denied the petition on January 26, 2023.

From June 13, 2023 to June 26, 2023, the USDC-CDCA held a class action jury trial on the first phase of plaintiffs’ Section 1981 claim and Title VII disparate treatment claim. The questions presented were whether Cognizant engaged in a pattern or practice of discrimination against non-South Asian and non-Indian employees with respect to bench terminations, and if so, whether punitive damages are available for class members who prevail on their claims. The jury deadlocked, and the court declared a mistrial.

The case proceeded to a retrial on September 24, 2024, and on October 4, 2024, the jury returned a verdict in favor of plaintiffs. The case will now proceed to the second phase to determine individualized liability and damages, if any, for each
class member. As a result of the verdict, each non-South Asian and non-Indian class member who pursues claims in the second phase will be entitled to a rebuttable presumption that all termination decisions were discriminatory and to the possibility of recovering punitive damages if they prevail. The USDC-CDCA will also consider plaintiffs’ claim that Cognizant policies had a disparate impact on non-South Asian and non-Indian employees. We believe that class certification was improper, and that the second phase of the case will confirm that individualized issues should have precluded class certification. Cognizant will continue to vigorously defend itself in the second phase of this case and to pursue all available appellate arguments concerning class certification and the September 24, 2024 trial at the appropriate time. Because we cannot predict the number of individual plaintiffs who will proceed to the second phase, or the outcome of those cases, and in view of the appellate arguments regarding class certification, we are unable to reasonably estimate a possible loss or range of loss. We have not recorded any accruals related to this matter.
Many of our engagements involve projects that are critical to the operations of our clients’ business and provide benefits that are difficult to quantify. Any failure in a client’s systems or our failure to meet our contractual obligations to our clients, including any breach involving a client’s confidential information or sensitive data, or our obligations under applicable laws or regulations could result in a claim for substantial damages against us, regardless of our responsibility for such failure. Although we attempt to contractually limit our liability for damages arising from negligent acts, errors, mistakes, or omissions in rendering our services, there can be no assurance that the limitations of liability set forth in our contracts will be enforceable in all instances or will otherwise protect us from liability for damages. Although we have general liability insurance coverage, including coverage for errors or omissions, we retain a significant portion of risk through our insurance deductibles and there can be no assurance that such coverage will cover all types of claims, continue to be available on reasonable terms or will be available in sufficient amounts to cover one or more large claims, or that the insurer will not disclaim coverage as to any future claim. The successful assertion of one or more large claims against us that exceed or are not covered by our insurance coverage or changes in our insurance policies, including premium increases or the imposition of large deductible or co-insurance requirements, could have a material adverse effect on our business, results of operations, financial position and cash flows for a particular period.
In the normal course of business and in conjunction with certain client engagements, we have entered into contractual arrangements through which we may be obligated to indemnify clients or other parties with whom we conduct business with respect to certain matters. These arrangements can include provisions whereby we agree to hold the indemnified party and certain of their affiliated entities harmless with respect to third-party claims related to such matters as our breach of certain representations or covenants, our intellectual property infringement, our gross negligence or willful misconduct or certain other claims made against certain parties. Payments by us under any of these arrangements are generally conditioned on the client making a claim and providing us with full control over the defense and settlement of such claim. It is not possible to determine the maximum potential liability under these indemnification agreements due to the unique facts and circumstances involved in each particular agreement. Historically, we have not made material payments under these indemnification agreements and therefore they have not had a material impact on our operating results, financial position, or cash flows. However, if events arise requiring us to make payment for indemnification claims under our indemnification obligations in contracts we have entered, such payments could have a material adverse effect on our business, results of operations, financial position and cash flows for a particular period.
v3.25.1
Segment Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Information
Our chief executive officer is our chief operating decision maker. Our CODM regularly reviews the performance of our business by four industry-based operating segments, which are our four reportable business segments: Health Sciences, Financial Services, Products and Resources, and Communications, Media and Technology.
We have an industry-led go-to-market strategy, with client partners, account executives and client relationship managers aligned to the specific industries they serve. Our CODM is regularly provided segment revenues and operating profit, including budget‑to‑actual variances in segment revenue, to formulate industry-focused strategic priorities, allocate financial resources, set targets and key performance indicators, and evaluate the results of such strategies. These strategic priorities, targets and key performance indicators are translated and applied to each client account, rolling up to respective industry-based operating segments. Our hiring and deployment plans are devised according to the strategic priorities and targets set for the client accounts.
Revenue from a client is directly identified with the operating segment with which the client is most closely aligned. Generally, operating expenses for each operating segment have similar characteristics and are subject to the same factors, pressures and challenges. However, the economic environment and its effects on industries served by the operating segments may affect revenues and operating expenses to differing degrees. Segment operating profit is the income from operations before unallocated costs.
In the first quarter of 2025, we made certain changes to the internal measurement of segment operating profit for the purpose of evaluating segment performance and resource allocation. The primary reason for the change was to reflect a more complete cost of delivery. Specifically, segment operating profit now includes an allocation of certain corporate costs, which were previously included in "unallocated costs." We have reported 2025 segment operating profits using the new allocation methodology and have recast the 2024 results to conform to the new methodology.
Our CODM is not regularly provided with segment expenses. A portion of depreciation and amortization, certain corporate costs, the impact of the settlements of the cash flow hedges, the gain on the sale of property and equipment and expenses related to our NextGen program are not allocated to individual segments. Accordingly, such expenses are excluded from segment operating profit and are included below as “unallocated costs” and adjusted against our total income from operations.
We do not disclose assets by segment as a significant portion of the assets is used interchangeably among the segments and our CODM is not provided such information.
Information by reportable segment were as follows:
Three Months Ended March 31, 2025
(in millions)
HS
FS
P&R
CMT
Total
Revenues
$1,571 $1,462 $1,278 $804 $5,115 
Less: other segment items
1,265 1,208 1,073 712 4,258 
Segment operating profit306 254 205 92 857 
Less: unallocated costs4 
Income from operations$853 
Three Months Ended March 31, 2024
(in millions)
HS
FS
P&R
CMT
Total
Revenues
$1,416 $1,385 $1,133 $826 $4,760 
Less: other segment items
1,154 1,177 952 736 4,019 
Segment operating profit262 208 181 90 741 
Less: unallocated costs46 
Income from operations$695 
Other segment items for each reportable segment primarily include employee compensation and benefits, subcontractor costs, costs of third-party products and services related to revenue and project-related travel.
Geographic Area Information
Long-lived assets by geographic area are as follows:
As of
 (in millions)March 31, 2025December 31, 2024
Long-lived Assets: (1)
North America(2)
$327 $338 
Europe73 72 
Rest of World (3)
588 584 
Total$988 $994 
(1)Long-lived assets include property and equipment, net of accumulated depreciation and amortization.
(2)Substantially all relates to the United States.
(3)Substantially all relates to India.
v3.25.1
Subsequent Events
 3 Months Ended
Mar. 31, 2025
Subsequent Events [Abstract]  
Subsequent Events
Dividend
On April 29, 2025, the Board of Directors approved the Company's declaration of a $0.31 per share dividend with a record date of May 19, 2025 and a payment date of May 28, 2025.
v3.25.1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Pay vs Performance Disclosure    
Net income $ 663 $ 546
v3.25.1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.1
Organization, Consolidation and Presentation of Financial Statements (Policies)
 3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Recently Adopted/New Accounting Pronouncements
New Accounting Pronouncements
Date Issued and Topic
Effective Date
DescriptionImpact
December 2023


Income Taxes (Topic 740): Improvements to Income Tax Disclosures
Annual period starting in 2025

Prospective basis
The standard requires enhanced income tax disclosures primarily related to the income tax rate reconciliation and income taxes paid information.
We are currently evaluating the impact of the new standard on our disclosures.
November 2024

Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40)
Annual period starting in 2027 and interim periods starting in 2028

Prospective basis
The standard is intended to improve financial reporting by requiring that public business entities disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods.
We are currently evaluating the impact of the new standard on our disclosures.
v3.25.1
Revenues and Trade Accounts Receivable (Tables)
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
Three Months Ended
March 31, 2025
(in millions)
Health Sciences
Financial Services
Products and Resources
Communications, Media and Technology
Total
Revenues
Geography:
North America$1,330 $1,043 $911 $570 $3,854 
United Kingdom49 153 137 118 457 
Continental Europe160 147 153 33 493 
Europe - Total209 300 290 151 950 
Rest of World 32 119 77 83 311 
Total$1,571 $1,462 $1,278 $804 $5,115 
Service line:
Consulting and technology services$870 $1,020 $887 $449 $3,226 
Outsourcing services701 442 391 355 1,889 
Total$1,571 $1,462 $1,278 $804 $5,115 
Type of contract:
Time and materials$481 $764 $556 $434 $2,235 
Fixed-price791 651 634 334 2,410 
Transaction or volume-based299 47 88 36 470 
Total$1,571 $1,462 $1,278 $804 $5,115 
Three Months Ended
March 31, 2024
(in millions)
Health Sciences
Financial Services
Products & Resources
Communications, Media and Technology
Total
Revenues
Geography:
North America$1,209 $977 $773 $562 $3,521 
United Kingdom44 143 131 138 456 
Continental Europe135 151 145 52 483 
Europe - Total179 294 276 190 939 
Rest of World 28 114 84 74 300 
Total$1,416 $1,385 $1,133 $826 $4,760 
Service line:
Consulting and technology services$802 $953 $736 $464 $2,955 
Outsourcing services614 432 397 362 1,805 
Total$1,416 $1,385 $1,133 $826 $4,760 
Type of contract:
Time and materials$490 $783 $470 $467 $2,210 
Fixed-price670 556 582 328 2,136 
Transaction or volume-based256 46 81 31 414 
Total$1,416 $1,385 $1,133 $826 $4,760 
Capitalized Costs to Fulfill Contract with Customer
The following table shows significant movements in the capitalized costs to fulfill for the three months ended March 31:
(in millions)20252024
Beginning balance$209 $245 
Costs capitalized10 14 
Amortization expense(20)(22)
Impairment charge(7)(2)
Ending balance$192 $235 
Costs to obtain contracts were immaterial for the periods disclosed.
Contract with Customer, Asset and Liability The table below shows significant movements in contract assets (current and noncurrent) for the three months ended March 31:
(in millions)20252024
Beginning balance$386 $316 
Revenues recognized during the period but not billed327 248 
Amounts reclassified to trade accounts receivable(259)(180)
Ending balance$454 $384 
The table below shows significant movements in the deferred revenue balances (current and noncurrent) for the three months ended March 31:
(in millions)20252024
Beginning balance$480 $427 
Amounts billed but not recognized as revenues374 311 
Revenues recognized related to the beginning balance of deferred revenue(302)(262)
Amounts acquired in business combinations— 9 
Ending balance$552 $485 
Reinsurance Recoverable, Allowance for Credit Loss
The following table presents the activity in the allowance for credit losses for trade accounts receivable for the three months ended March 31:
(in millions)20252024
Beginning balance$26 $32 
Credit loss expense (1)
4 1 
Write-offs charged against the allowance(2)(3)
Ending balance$28 $30 
(1)Reported in "Selling, general and administrative expenses" in our unaudited consolidated statements of operations.
v3.25.1
Restructuring Charges (Tables)
 3 Months Ended
Mar. 31, 2025
Restructuring and Related Activities [Abstract]  
NextGen Charges Roll Forward
Changes in our accrued employee separation costs included in "Accrued expenses and other current liabilities" in our unaudited consolidated statements of financial position are presented in the table below for the three months ended March 31:
(in millions)20252024
Beginning balance$35 $42 
Employee separation costs accrued— 8 
Payments made(20)(21)
Ending balance$15 $29 
v3.25.1
Accrued Expenses And Other Current Liabilities (Tables)
 3 Months Ended
Mar. 31, 2025
Payables and Accruals [Abstract]  
Accrued Expenses And Other Current Liabilities
Accrued expenses and other current liabilities were as follows:
(in millions)March 31, 2025December 31, 2024
Compensation and benefits$1,171 $1,499 
Customer volume and other incentives261 247 
Liabilities related to the resale of third-party products
245 154 
Professional fees185 171 
Income taxes128 100 
Other383 439 
Total accrued expenses and other current liabilities$2,373 $2,610 
v3.25.1
Debt (Tables)
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Summary of Long-term Debt
The following table summarizes the long-term debt balances as of:
(in millions)March 31, 2025December 31, 2024
Notes outstanding under revolving credit facility$— $300 
Term Loan602 610 
Less:
Current maturities - Term Loan
(33)(33)
Unamortized deferred financing costs(2)(2)
Long-term debt, net of current maturities$567 $875 
v3.25.1
Income Taxes Income Taxes (Tables)
 3 Months Ended
Mar. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Effective Income Tax Rates
Our effective income tax rates were as follows:
 Three Months Ended
March 31,
 20252024
Effective income tax rate24.4 %24.8 %
v3.25.1
Derivative Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Location And Fair Values Of Derivative Financial Instruments In Our Condensed Consolidated Statements Of Financial Position
The following table provides information on the location and fair values of derivative financial instruments included in our unaudited consolidated statements of financial position as of:
 (in millions) March 31, 2025December 31, 2024
Designation of DerivativesLocation on Statement of
Financial Position		AssetsLiabilitiesAssets  Liabilities
Foreign exchange forward and option contracts – Designated as cash flow hedging instrumentsOther current assets$7 $— $1 $— 
Other noncurrent assets6 — — — 
Accrued expenses and other current liabilities— 7 — 22 
Other noncurrent liabilities— 2 — 13 
Total13 9 1 35 
Foreign exchange forward contracts – Not designated as hedging instrumentsOther current assets2 — 1 — 
Accrued expenses and other current liabilities— 2 — 2 
Total2 2 1 2 
Total$15 $11 $2 $37 
Notional value of outstanding contracts by year of maturity
The notional value of the outstanding contracts by year of maturity was as follows:
(in millions)March 31, 2025December 31, 2024
20251,610 $2,010 
20261,175 920 
2027125 — 
Total notional value of contracts outstanding (1)
$2,910 $2,930 
(1)Includes $63 million notional value of option contracts as of March 31, 2025 with the remaining notional value related to forward contracts. There were no option contracts as of December 31, 2024.
Additional Information Related To Outstanding Contracts Not Designated As Hedging Instruments
Additional information related to the outstanding foreign exchange forward contracts not designated as hedging instruments was as follows:
(in millions)March 31, 2025December 31, 2024
NotionalFair ValueNotionalFair Value
Contracts outstanding$801 $— $489 $(1)
Location And Amounts Of Pre-Tax Gains (Losses) On Derivative Financial Instruments Not Designated As Hedges
The following table provides information on the location and amounts of realized and unrealized pre-tax gains and losses on the other derivative financial instruments for the three months ended March 31:
Location of Net Gains (Losses) on Derivative Instruments
Amount of Net Gains (Losses) on Derivative Instruments
  (in millions)20252024
Foreign exchange forward contracts – Not designated as hedging instrumentsForeign currency exchange gains (losses), net$(1)$31 
v3.25.1
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Financial Assets And (Liabilities) Measured At Fair Value On A Recurring Basis
The following table summarizes the financial assets and (liabilities) measured at fair value on a recurring basis as of March 31, 2025:
(in millions)Level 1Level 2Level 3Total
Cash equivalents:
Money market funds$29 $— $— $29 
Time deposits— 794 — 794 
Short-term investments:
Time deposits— 1 — 1 
Equity investment security11 — — 11 
Other current assets:
Foreign exchange forward and option contracts
— 9 — 9 
Other noncurrent assets:
Foreign exchange forward contracts— 6 — 6 
Accrued expenses and other current liabilities:
Foreign exchange forward contracts
— (9)— (9)
Other noncurrent liabilities:
Foreign exchange forward contracts— (2)— (2)
The following table summarizes the financial assets and (liabilities) measured at fair value on a recurring basis as of December 31, 2024:
(in millions)Level 1Level 2Level 3Total
Cash equivalents:
Money market funds$40 $— $— $40 
Time deposits— 991 — 991 
Short-term investments:
Time deposits— 1 — 1 
Equity investment security11 — — 11 
Other current assets:
Foreign exchange forward contracts— 2 — 2 
Accrued expenses and other current liabilities:
Foreign exchange forward contracts— (24)— (24)
Other noncurrent liabilities:
Foreign exchange forward contracts— (13)— (13)
v3.25.1
Accumulated Other Comprehensive Income (Loss) (Tables)
 3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)
Changes in "Accumulated other comprehensive income (loss)" by component were as follows for the three months ended March 31, 2025:
 (in millions)Before Tax
Amount		Tax
Effect		Net of Tax
Amount
Foreign currency translation adjustments:
Beginning balance$(261)$7 $(254)
Change in foreign currency translation adjustments97 6 103 
Ending balance$(164)$13 $(151)
Unrealized gains and losses on cash flow hedges:
Beginning balance$(34)$9 $(25)
Unrealized gains arising during the period
30 (8)22 
Reclassifications of net losses to:
Cost of revenues7 (2)5 
SG&A expenses1 — 1 
Net change38 (10)28 
Ending balance$4 $(1)$3 
Losses on defined benefit plans:
Beginning balance$(20)$3 $(17)
Losses on defined benefit plans
— — — 
Ending balance$(20)$3 $(17)
Accumulated other comprehensive income (loss):
Beginning balance$(315)$19 $(296)
Other comprehensive income (loss)135 (4)131 
Ending balance$(180)$15 $(165)
Changes in "Accumulated other comprehensive income (loss)" by component were as follows for the three months ended March 31, 2024:
 (in millions)Before Tax
Amount		Tax
Effect		Net of Tax
Amount
Foreign currency translation adjustments:
Beginning balance$(109)$5 $(104)
Change in foreign currency translation adjustments(74)1 (73)
Ending balance$(183)$6 $(177)
Unrealized gains and losses on cash flow hedges:
Beginning balance$13 $(3)$10 
Unrealized gains arising during the period
15 (4)11 
Ending balance$28 $(7)$21 
Accumulated other comprehensive income (loss):
Beginning balance$(96)$2 $(94)
Other comprehensive income (loss)(59)(3)(62)
Ending balance$(155)$(1)$(156)
v3.25.1
Segment Information (Tables)
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Operating Profit
Three Months Ended March 31, 2025
(in millions)
HS
FS
P&R
CMT
Total
Revenues
$1,571 $1,462 $1,278 $804 $5,115 
Less: other segment items
1,265 1,208 1,073 712 4,258 
Segment operating profit306 254 205 92 857 
Less: unallocated costs4 
Income from operations$853 
Three Months Ended March 31, 2024
(in millions)
HS
FS
P&R
CMT
Total
Revenues
$1,416 $1,385 $1,133 $826 $4,760 
Less: other segment items
1,154 1,177 952 736 4,019 
Segment operating profit262 208 181 90 741 
Less: unallocated costs46 
Income from operations$695 
Other segment items for each reportable segment primarily include employee compensation and benefits, subcontractor costs, costs of third-party products and services related to revenue and project-related travel.
Revenues And Long-Lived Assets By Geographic Area
Long-lived assets by geographic area are as follows:
As of
 (in millions)March 31, 2025December 31, 2024
Long-lived Assets: (1)
North America(2)
$327 $338 
Europe73 72 
Rest of World (3)
588 584 
Total$988 $994 
(1)Long-lived assets include property and equipment, net of accumulated depreciation and amortization.
(2)Substantially all relates to the United States.
(3)Substantially all relates to India.
v3.25.1
Interim Consolidated Financial Statements (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Proceeds from sale of property and equipment $ 70 $ 0
Gain on sale of property and equipment $ 62 $ 0
v3.25.1
Revenues and Trade Accounts Receivable - Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Disaggregation of Revenue [Line Items]    
Revenue $ 5,115 $ 4,760
Time-and-materials    
Disaggregation of Revenue [Line Items]    
Revenue 2,235 2,210
Fixed-price    
Disaggregation of Revenue [Line Items]    
Revenue 2,410 2,136
Transaction or volume-based    
Disaggregation of Revenue [Line Items]    
Revenue 470 414
North America    
Disaggregation of Revenue [Line Items]    
Revenue 3,854 3,521
United Kingdom    
Disaggregation of Revenue [Line Items]    
Revenue 457 456
Europe, excluding United Kingdom    
Disaggregation of Revenue [Line Items]    
Revenue 493 483
Europe    
Disaggregation of Revenue [Line Items]    
Revenue 950 939
Rest of World    
Disaggregation of Revenue [Line Items]    
Revenue 311 300
Consulting And Technology Services    
Disaggregation of Revenue [Line Items]    
Revenue 3,226 2,955
Outsourcing Services    
Disaggregation of Revenue [Line Items]    
Revenue 1,889 1,805
Healthcare Segment    
Disaggregation of Revenue [Line Items]    
Revenue 1,571 1,416
Healthcare Segment | Time-and-materials    
Disaggregation of Revenue [Line Items]    
Revenue 481 490
Healthcare Segment | Fixed-price    
Disaggregation of Revenue [Line Items]    
Revenue 791 670
Healthcare Segment | Transaction or volume-based    
Disaggregation of Revenue [Line Items]    
Revenue 299 256
Healthcare Segment | North America    
Disaggregation of Revenue [Line Items]    
Revenue 1,330 1,209
Healthcare Segment | United Kingdom    
Disaggregation of Revenue [Line Items]    
Revenue 49 44
Healthcare Segment | Europe, excluding United Kingdom    
Disaggregation of Revenue [Line Items]    
Revenue 160 135
Healthcare Segment | Europe    
Disaggregation of Revenue [Line Items]    
Revenue 209 179
Healthcare Segment | Rest of World    
Disaggregation of Revenue [Line Items]    
Revenue 32 28
Healthcare Segment | Consulting And Technology Services    
Disaggregation of Revenue [Line Items]    
Revenue 870 802
Healthcare Segment | Outsourcing Services    
Disaggregation of Revenue [Line Items]    
Revenue 701 614
Financial Services    
Disaggregation of Revenue [Line Items]    
Revenue 1,462 1,385
Financial Services | Time-and-materials    
Disaggregation of Revenue [Line Items]    
Revenue 764 783
Financial Services | Fixed-price    
Disaggregation of Revenue [Line Items]    
Revenue 651 556
Financial Services | Transaction or volume-based    
Disaggregation of Revenue [Line Items]    
Revenue 47 46
Financial Services | North America    
Disaggregation of Revenue [Line Items]    
Revenue 1,043 977
Financial Services | United Kingdom    
Disaggregation of Revenue [Line Items]    
Revenue 153 143
Financial Services | Europe, excluding United Kingdom    
Disaggregation of Revenue [Line Items]    
Revenue 147 151
Financial Services | Europe    
Disaggregation of Revenue [Line Items]    
Revenue 300 294
Financial Services | Rest of World    
Disaggregation of Revenue [Line Items]    
Revenue 119 114
Financial Services | Consulting And Technology Services    
Disaggregation of Revenue [Line Items]    
Revenue 1,020 953
Financial Services | Outsourcing Services    
Disaggregation of Revenue [Line Items]    
Revenue 442 432
Products and Resources    
Disaggregation of Revenue [Line Items]    
Revenue 1,278 1,133
Products and Resources | Time-and-materials    
Disaggregation of Revenue [Line Items]    
Revenue 556 470
Products and Resources | Fixed-price    
Disaggregation of Revenue [Line Items]    
Revenue 634 582
Products and Resources | Transaction or volume-based    
Disaggregation of Revenue [Line Items]    
Revenue 88 81
Products and Resources | North America    
Disaggregation of Revenue [Line Items]    
Revenue 911 773
Products and Resources | United Kingdom    
Disaggregation of Revenue [Line Items]    
Revenue 137 131
Products and Resources | Europe, excluding United Kingdom    
Disaggregation of Revenue [Line Items]    
Revenue 153 145
Products and Resources | Europe    
Disaggregation of Revenue [Line Items]    
Revenue 290 276
Products and Resources | Rest of World    
Disaggregation of Revenue [Line Items]    
Revenue 77 84
Products and Resources | Consulting And Technology Services    
Disaggregation of Revenue [Line Items]    
Revenue 887 736
Products and Resources | Outsourcing Services    
Disaggregation of Revenue [Line Items]    
Revenue 391 397
Communication, Media and Technology    
Disaggregation of Revenue [Line Items]    
Revenue 804 826
Communication, Media and Technology | Time-and-materials    
Disaggregation of Revenue [Line Items]    
Revenue 434 467
Communication, Media and Technology | Fixed-price    
Disaggregation of Revenue [Line Items]    
Revenue 334 328
Communication, Media and Technology | Transaction or volume-based    
Disaggregation of Revenue [Line Items]    
Revenue 36 31
Communication, Media and Technology | North America    
Disaggregation of Revenue [Line Items]    
Revenue 570 562
Communication, Media and Technology | United Kingdom    
Disaggregation of Revenue [Line Items]    
Revenue 118 138
Communication, Media and Technology | Europe, excluding United Kingdom    
Disaggregation of Revenue [Line Items]    
Revenue 33 52
Communication, Media and Technology | Europe    
Disaggregation of Revenue [Line Items]    
Revenue 151 190
Communication, Media and Technology | Rest of World    
Disaggregation of Revenue [Line Items]    
Revenue 83 74
Communication, Media and Technology | Consulting And Technology Services    
Disaggregation of Revenue [Line Items]    
Revenue 449 464
Communication, Media and Technology | Outsourcing Services    
Disaggregation of Revenue [Line Items]    
Revenue $ 355 $ 362
v3.25.1
Revenues and Trade Accounts Receivable - Capitalized Costs to Fulfill Contract with Customer (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Capitalized Contract Cost, Net [Roll Forward]    
Beginning balance $ 209 $ 245
Costs capitalized 10 14
Amortization expense (20) (22)
Impairment charge (7) (2)
Ending balance $ 192 $ 235
v3.25.1
Revenues and Trade Accounts Receivable - Significant Movements in Contract Assets (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Contract with Customer, Asset, Allowance for Credit Loss [Roll Forward]    
Beginning balance $ 386 $ 316
Revenues recognized during the period but not billed 327 248
Amounts reclassified to trade accounts receivable (259) (180)
Ending balance $ 454 $ 384
v3.25.1
Revenues and Trade Accounts Receivable - Significant Movements in Deferred Revenue Balances (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Contract with Customer, Liability [Roll Forward]    
Beginning balance $ 480 $ 427
Amounts billed but not recognized as revenues 374 311
Revenues recognized related to the beginning balance of deferred revenue (302) (262)
Amounts acquired in business combinations 0 9
Ending balance $ 552 $ 485
v3.25.1
Revenues and Trade Accounts Receivable - Remaining Performance Obligations Narrative (Details)
$ in Millions
Mar. 31, 2025
USD ($)
Revenue from Contract with Customer [Abstract]  
Revenue, remaining performance obligation $ 5,627
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01 | Revenue Remaining Performance Obligation Period One  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, percentage 35.00%
Revenue, remaining performance obligation, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01 | Revenue Remaining Performance Obligation Period Two  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, percentage 55.00%
Revenue, remaining performance obligation, period 2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01 | Revenue Remaining Performance Obligation Period Three  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, percentage 90.00%
Revenue, remaining performance obligation, period 5 years
v3.25.1
Revenues and Trade Accounts Receivable - Trade Accounts And Allowance for Doubtful Accounts (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Accounts Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning Balance $ 26 $ 32
Credit loss expense 4 1
Write-offs charged against the allowance (2) (3)
Ending Balance $ 28 $ 30
v3.25.1
Restructuring Charges - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Accrued Restructuring Costs    
Restructuring charges $ 0 $ 23
NextGen Program    
Accrued Restructuring Costs    
Restructuring charges   23
Employee Severance    
Accrued Restructuring Costs    
Restructuring charges $ 0 8
Employee Severance | NextGen Program    
Accrued Restructuring Costs    
Restructuring charges   8
Facility exit costs | NextGen Program    
Accrued Restructuring Costs    
Restructuring charges   14
Third party and other costs | NextGen Program    
Accrued Restructuring Costs    
Restructuring charges   $ 1
v3.25.1
Restructuring Charges - Restructuring Reserve (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Restructuring Reserve [Roll Forward]    
Employee separation costs accrued $ 0 $ 23
Employee Severance    
Restructuring Reserve [Roll Forward]    
Beginning balance 35 42
Employee separation costs accrued 0 8
Payments made (20) (21)
Ending balance $ 15 $ 29
v3.25.1
Accrued Expenses And Other Current Liabilities (Details) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Payables and Accruals [Abstract]    
Compensation and benefits $ 1,171 $ 1,499
Customer volume and other incentives 261 247
Income taxes 128 100
Professional fees 185 171
Other 383 439
Total accrued expenses and other current liabilities 2,373 2,610
Liabilities Related to the Resale of Third-Party Products $ 245 $ 154
v3.25.1
Debt (Additional Disclosures) (Details) - Credit Agreement - USD ($)
$ in Millions
 1 Months Ended 3 Months Ended
Apr. 30, 2024
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Term Loan        
Line of Credit Facility [Line Items]        
Principal amount of debt $ 650      
Base Rate        
Line of Credit Facility [Line Items]        
Basis spread on variable rate 0.00%      
Term Benchmark        
Line of Credit Facility [Line Items]        
Basis spread on variable rate 0.875%      
Term Benchmark | Minimum        
Line of Credit Facility [Line Items]        
Basis spread on variable rate 0.75%      
Term Benchmark | Maximum        
Line of Credit Facility [Line Items]        
Basis spread on variable rate 1.125%      
Term Benchmark Without Debt Ratings | Minimum        
Line of Credit Facility [Line Items]        
Basis spread on variable rate 0.875%      
Term Benchmark Without Debt Ratings | Maximum        
Line of Credit Facility [Line Items]        
Basis spread on variable rate 1.125%      
Revolving Credit Facility | Unsecured Debt        
Line of Credit Facility [Line Items]        
Principal amount of debt $ 1,850      
Proceeds from borrowings under the revolving credit facility       $ 600
Repayments of Lines of Credit   $ 300 $ 300  
v3.25.1
Debt (Short-term Debt) (Details) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Credit Agreement | Term Loan    
Short-term Debt [Line Items]    
Long-term Debt, Current Maturities $ 33 $ 33
v3.25.1
Debt (Long-term Debt) (Details) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Long-term debt, net of current maturities $ 567 $ 875
Credit Agreement    
Debt Instrument [Line Items]    
Deferred financing costs (2) (2)
Term Loan | Credit Agreement    
Debt Instrument [Line Items]    
Long term debt 602 610
Current maturities (33) (33)
Revolving Credit Facility | Unsecured Debt | Credit Agreement    
Debt Instrument [Line Items]    
Long term debt $ 0 $ 300
v3.25.1
Income Taxes - Tax Rates (Details)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Income Tax Disclosure [Abstract]    
Effective Income Tax Rate 24.40% 24.80%
v3.25.1
Income Taxes (Narrative) (One-time Transaction) (Details)
$ in Millions, ₨ in Billions
 3 Months Ended 6 Months Ended 12 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2024
USD ($)
Jun. 30, 2013
USD ($)
Dec. 31, 2016
USD ($)
Dec. 31, 2024
USD ($)
Jan. 08, 2024
USD ($)
Apr. 30, 2018
INR (₨)
Mar. 31, 2018
INR (₨)
One-time Transaction [Table] [Line Items]                
Income tax expense $ 213 $ 179            
Indian Income Tax Department (ITD) | Foreign tax authority | 2013 India Share Repurchase                
One-time Transaction [Table] [Line Items]                
Foreign earnings repatriated     $ 523          
Indian Income Tax Department (ITD) | Foreign tax authority | 2016 India Cash Remittance                
One-time Transaction [Table] [Line Items]                
Foreign earnings repatriated       $ 2,800        
Income tax expense       $ 135        
Income tax, disputed amount 386             ₨ 33
Deposits assets | ₨             ₨ 5  
Desposits assets, percent disputed tax amount             15.00%  
Indian Income Tax Department (ITD) | Foreign tax authority | 2016 India Cash Remittance | Long-term investments                
One-time Transaction [Table] [Line Items]                
Restricted investments           $ 30,000    
Indian Income Tax Department (ITD) | Foreign tax authority | 2016 India Cash Remittance | Other Noncurrent Assets                
One-time Transaction [Table] [Line Items]                
Deposits assets $ 404       $ 403      
v3.25.1
Derivative Financial Instruments (Location And Fair Values Of Derivative Financial Instruments In Our Consolidated Statement Of Financial Position) (Details) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Derivatives, Fair Value [Line Items]    
Derivative assets fair value $ 15 $ 2
Derivative liabilities fair value 11 37
Not Designated as Hedging Instrument | Foreign Exchange Forward    
Derivatives, Fair Value [Line Items]    
Derivative assets fair value 2 1
Derivative liabilities fair value 2 2
Not Designated as Hedging Instrument | Foreign Exchange Forward | Other Current Assets    
Derivatives, Fair Value [Line Items]    
Derivative assets fair value 2 1
Not Designated as Hedging Instrument | Foreign Exchange Forward | Accrued Expenses And Other Current Liabilities    
Derivatives, Fair Value [Line Items]    
Derivative liabilities fair value 2 2
Cash Flow Hedging | Designated as Hedging Instrument | Foreign Exchange Contract    
Derivatives, Fair Value [Line Items]    
Derivative assets fair value 13 1
Derivative liabilities fair value 9 35
Cash Flow Hedging | Designated as Hedging Instrument | Foreign Exchange Contract | Other Current Assets    
Derivatives, Fair Value [Line Items]    
Derivative assets fair value 7 1
Cash Flow Hedging | Designated as Hedging Instrument | Foreign Exchange Contract | Other Noncurrent Assets    
Derivatives, Fair Value [Line Items]    
Derivative assets fair value 6 0
Cash Flow Hedging | Designated as Hedging Instrument | Foreign Exchange Contract | Accrued Expenses And Other Current Liabilities    
Derivatives, Fair Value [Line Items]    
Derivative liabilities fair value 7 22
Cash Flow Hedging | Designated as Hedging Instrument | Foreign Exchange Contract | Other Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Derivative liabilities fair value $ 2 $ 13
v3.25.1
Derivative Financial Instruments (Narrative) (Details)
 3 Months Ended
Mar. 31, 2025
USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Cash flow hedge gains (losses) expected to be reclassified to earnings within the next 12 months
v3.25.1
Derivative Financial Instruments (Notional Value Of Outstanding Cash Flow Hedge Contracts By Year Of Maturity And Net Unrealized (Loss) Gain Included In Accumulated Other Comprehensive Income) (Details) - Designated as Hedging Instrument - Cash Flow Hedging - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Foreign Exchange Contract    
Derivative [Line Items]    
Derivative, Notional Amount $ 2,910 $ 2,930
Foreign Exchange Contract, Maturity 2025    
Derivative [Line Items]    
Derivative, Notional Amount 1,610 2,010
Foreign Exchange Contract, Maturity 2026    
Derivative [Line Items]    
Derivative, Notional Amount 1,175 920
Foreign Exchange Contract, Maturity 2027    
Derivative [Line Items]    
Derivative, Notional Amount 125 0
Foreign Exchange Option    
Derivative [Line Items]    
Derivative, Notional Amount $ 63 $ 0
v3.25.1
Derivative Financial Instruments (Other Derivatives) (Details) - Not Designated as Hedging Instrument - Foreign Exchange Forward - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Derivative [Line Items]    
Derivative, Notional Amount $ 801 $ 489
Market Value $ 0 $ (1)
v3.25.1
Derivative Financial Instruments (Location And Amounts Of Pre-Tax Gains (Losses) On Derivative Financial Instruments Not Designated As Hedges) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Foreign currency exchange gains (losses), net Foreign currency exchange gains (losses), net
Not Designated as Hedging Instrument | Foreign Exchange Forward    
Derivative Instruments, Gain (Loss) [Line Items]    
Amount of net gains (losses) on derivative instruments $ (1) $ 31
v3.25.1
Fair Value Measurements (Financial Assets And (Liabilities) Measured At Fair Value On A Recurring Basis) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2025
Dec. 31, 2024
Level 3 | Contingent Consideration      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value $ 0    
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements $ 30    
Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Equity securities     $ 11
Recurring | Short-term Investments      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Short term investments   $ 1 1
Equity securities   11  
Recurring | Other Current Assets      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative financial instruments, assets   9 2
Recurring | Other Noncurrent Assets      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative financial instruments, assets   6  
Recurring | Other Current Liabilities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative financial instruments, liabilities   (9) (24)
Recurring | Other Noncurrent Liabilities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative financial instruments, liabilities   (2) (13)
Recurring | Money market funds      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Money market funds   29 40
Recurring | Time deposits      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Money market funds   794 991
Recurring | Level 1 | Short-term Investments      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Short term investments   0 0
Equity securities   11 11
Recurring | Level 1 | Other Current Assets      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative financial instruments, assets   0 0
Recurring | Level 1 | Other Noncurrent Assets      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative financial instruments, assets   0  
Recurring | Level 1 | Other Current Liabilities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative financial instruments, liabilities   0 0
Recurring | Level 1 | Other Noncurrent Liabilities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative financial instruments, liabilities   0 0
Recurring | Level 1 | Money market funds | Cash Equivalents      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Money market funds   29 40
Recurring | Level 2 | Short-term Investments      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Short term investments   1 1
Equity securities   0 0
Recurring | Level 2 | Other Current Assets      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative financial instruments, assets   9 2
Recurring | Level 2 | Other Noncurrent Assets      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative financial instruments, assets   6  
Recurring | Level 2 | Other Current Liabilities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative financial instruments, liabilities   (9) (24)
Recurring | Level 2 | Other Noncurrent Liabilities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative financial instruments, liabilities   (2) (13)
Recurring | Level 2 | Time deposits | Cash Equivalents      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Money market funds   794 991
Recurring | Level 3 | Short-term Investments      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Short term investments   0 0
Equity securities   0 0
Recurring | Level 3 | Other Current Assets      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative financial instruments, assets   0 0
Recurring | Level 3 | Other Noncurrent Assets      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative financial instruments, assets   0  
Recurring | Level 3 | Other Current Liabilities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative financial instruments, liabilities   0 0
Recurring | Level 3 | Other Noncurrent Liabilities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative financial instruments, liabilities   $ 0 $ 0
v3.25.1
Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Beginning balance $ 14,408 $ 13,227
Other Comprehensive Income (Loss), before Tax [Abstract]    
Net change, Net of Tax Amount 103 (73)
Other comprehensive income (loss) 131 (62)
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]    
Total stockholders’ equity 14,899 13,490
Foreign currency translation adjustments: [Member]    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
AOCI before tax, beginning balance (261) (109)
AOCI tax, beginning balance 7 5
Beginning balance (254) (104)
Other Comprehensive Income (Loss), before Tax [Abstract]    
Net change, Before Tax Amount 97 (74)
Net change, Tax Effect 6 1
Other comprehensive income (loss) 103 (73)
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]    
AOCI before tax, ending balance (164) (183)
AOCI tax, ending balance 13 6
Total stockholders’ equity (151) (177)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
AOCI before tax, beginning balance (34) 13
AOCI tax, beginning balance 9 (3)
Beginning balance (25) 10
Other Comprehensive Income (Loss), before Tax [Abstract]    
Net change, Before Tax Amount 38  
Net change, Tax Effect (10)  
Other comprehensive income (loss) 28  
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]    
OCI, before reclassifications, before tax 30 15
Other comprehensive income (loss) before reclassifications, tax (8) (4)
OCI, before reclassifications, net of tax 22 11
AOCI before tax, ending balance 4 28
AOCI tax, ending balance (1) (7)
Total stockholders’ equity 3 21
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent | Cost of revenues    
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]    
Reclassification from AOCI, current period, before tax 7  
Reclassification from AOCI, current period, tax (2)  
Reclassification from AOCI, current period, net of tax 5  
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent | Selling, general and administrative expenses    
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]    
Reclassification from AOCI, current period, before tax 1  
Reclassification from AOCI, current period, tax 0  
Reclassification from AOCI, current period, net of tax 1  
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
AOCI before tax, beginning balance (20)  
AOCI tax, beginning balance 3  
Beginning balance (17)  
Other Comprehensive Income (Loss), before Tax [Abstract]    
Net change, Before Tax Amount 0  
Net change, Tax Effect 0  
Other comprehensive income (loss) 0  
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]    
AOCI before tax, ending balance (20)  
AOCI tax, ending balance 3  
Total stockholders’ equity (17)  
Accumulated Other Comprehensive Income (Loss)    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
AOCI before tax, beginning balance (315) (96)
AOCI tax, beginning balance 19 2
Beginning balance (296) (94)
Other Comprehensive Income (Loss), before Tax [Abstract]    
Net change, Before Tax Amount 135 (59)
Net change, Tax Effect (4) (3)
Other comprehensive income (loss) 131 (62)
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]    
AOCI before tax, ending balance (180) (155)
AOCI tax, ending balance 15 (1)
Total stockholders’ equity $ (165) $ (156)
v3.25.1
Commitments and Contingencies (Details) - USD ($)
$ in Millions
Mar. 13, 2024
May 25, 2023
Apr. 20, 2021
Oct. 27, 2020
Mar. 31, 2025
Dec. 31, 2024
Mar. 31, 2019
Other Commitments [Line Items]              
Accrued expenses and other current liabilities         $ 2,373 $ 2,610  
Syntel Sterling Best Shores Mauritius Ltd.              
Other Commitments [Line Items]              
Litigation settlement, amount awarded from other party     $ 570 $ 855      
Punitive damages     285 $ 570      
Actual damages     $ 285        
Actual and punitive damages   $ 570          
Syntel Sterling Best Shores Mauritius Ltd. | Attorney Fees              
Other Commitments [Line Items]              
Litigation settlement, amount awarded from other party $ 15            
India Defined Contribution Obligation              
Other Commitments [Line Items]              
Accrued expenses and other current liabilities             $ 117
v3.25.1
Segment Information (Revenues From External Customers And Segment Operating Profit) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Segment Reporting Information [Line Items]    
Income from operations $ 853 $ 695
Revenue 5,115 4,760
Other Segment Items 4,258 4,019
Financial Services    
Segment Reporting Information [Line Items]    
Revenue 1,462 1,385
Other Segment Items 1,208 1,177
Healthcare Segment    
Segment Reporting Information [Line Items]    
Revenue 1,571 1,416
Other Segment Items 1,265 1,154
Products and Resources    
Segment Reporting Information [Line Items]    
Revenue 1,278 1,133
Other Segment Items 1,073 952
Communication, Media and Technology    
Segment Reporting Information [Line Items]    
Revenue 804 826
Other Segment Items 712 736
Operating Segments    
Segment Reporting Information [Line Items]    
Income from operations 857 741
Operating Segments | Financial Services    
Segment Reporting Information [Line Items]    
Income from operations 306 262
Operating Segments | Healthcare Segment    
Segment Reporting Information [Line Items]    
Income from operations 254 208
Operating Segments | Products and Resources    
Segment Reporting Information [Line Items]    
Income from operations 205 181
Operating Segments | Communications, Media and Technology    
Segment Reporting Information [Line Items]    
Income from operations 92 90
Segment Reporting, Reconciling Item, Corporate Nonsegment    
Segment Reporting Information [Line Items]    
Unallocated costs $ 4 $ 46
v3.25.1
Segment Information (Long-Lived Assets By Geographic Area) (Details) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Long-Lived Assets [Line Items]    
Long-lived Assets $ 988 $ 994
North America    
Long-Lived Assets [Line Items]    
Long-lived Assets 327 338
Europe    
Long-Lived Assets [Line Items]    
Long-lived Assets 73 72
Rest of World    
Long-Lived Assets [Line Items]    
Long-lived Assets $ 588 $ 584
v3.25.1
Subsequent Events (Details) - $ / shares
 3 Months Ended
Apr. 29, 2025
Mar. 31, 2025
Mar. 31, 2024
Subsequent Event [Line Items]      
Dividends declared per common share (in usd per share)   $ 0.31 $ 0.30
Subsequent Event      
Subsequent Event [Line Items]      
Dividends declared per common share (in usd per share) $ 0.31