Audit Information |
12 Months Ended |
|---|---|
Dec. 31, 2024 | |
| Audit Information [Abstract] | |
| Auditor Name | KPMG LLP |
| Auditor Location | New York, NY |
| Auditor Firm ID | 185 |
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Accounts receivable, allowances | $ 32 | $ 35 |
| Property and equipment, accumulated depreciation | $ 1,453 | $ 1,272 |
| Preferred stock, par value (in usd per share) | $ 0.01 | $ 0.01 |
| Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
| Preferred stock, shares issued (in shares) | 0 | 0 |
| Preferred stock, shares outstanding (in shares) | 0 | 0 |
| Treasury stock, shares (in shares) | 162,593,213 | 160,430,754 |
| Series Common Stock | ||
| Common stock, par value (in usd per share) | $ 0.01 | $ 0.01 |
| Common stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
| Common stock, shares issued (in shares) | 0 | 0 |
| Common stock, shares outstanding (in shares) | 0 | 0 |
| Common Stock | ||
| Common stock, par value (in usd per share) | $ 0.01 | $ 0.01 |
| Common stock, shares authorized (in shares) | 1,000,000,000.0 | 1,000,000,000 |
| Common stock, shares issued (in shares) | 342,902,272 | 342,902,272 |
CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Statement of Stockholders' Equity [Abstract] | |||
| Dividends declared per share attributable to Moody's common shareholders (in USD per share) | $ 3.40 | $ 3.08 | $ 2.80 |
| Currency translation adjustment, tax | $ (80) | $ 44 | $ (53) |
| Amortization of actuarial losses and prior service costs included in net income, tax | 0 | 0 | 1 |
| Net actuarial gains (losses) and prior service cost, tax | 6 | (2) | $ (1) |
| Amortization of losses on cash flow hedges | $ 1 | $ 1 | |
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION |
12 Months Ended |
|---|---|
Dec. 31, 2024 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION | DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Moody’s is a global provider of integrated perspectives on risk that empowers organizations and investors to make better decisions. Moody’s reports in two reportable segments: MA and MIS. MA is a global provider of: i) data and information; ii) research and insights; and iii) decision solutions, which help companies make better and faster decisions. MA leverages its industry expertise across multiple risks such as credit, market, financial crime, supply chain, catastrophe and climate to deliver integrated risk assessment solutions that enable business leaders to identify, measure and manage the implications of interrelated risks and opportunities. MIS publishes credit ratings and provides assessment services on a wide range of debt obligations, programs and facilities, and the entities that issue such obligations in markets worldwide, including various corporate, financial institution and governmental obligations, and structured finance securities. Certain reclassifications have been made to prior period amounts to conform to the current presentation. Adoption of New Accounting Standards in 2024 In November 2023, the FASB issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures" ("ASU No. 2023-07"), which expands segment disclosure requirements for public entities. ASU No. 2023-07 requires entities to disclose significant segment expenses by reportable segment if they are regularly provided to the CODM and included in each reported measure of segment profit or loss. In addition, this ASU permits entities to disclose more than one measure of segment profit or loss used by the CODM. Additionally, disclosure of the CODM’s title and position will be required on an annual basis, as well as an explanation of how the CODM uses the reported measure(s). Furthermore, all existing annual disclosures about segment profit or loss and assets must be provided on an interim basis in addition to disclosure of significant segment expenses and other segment items. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and requires retrospective application to all prior periods presented in the financial statements. The Company adopted this ASU retrospectively for all periods presented with the new required disclosures presented in Note 20. Reclassification of Previously Reported Revenue by LOB In the first quarter of 2024, pursuant to the integration of RMS into the Company's order-to-cash systems, the Company reclassified certain prior year revenue by geography disclosures. The impact of the reclassification was not material, and prior year revenue by LOB disclosures have been reclassified to conform to this new presentation, which is disclosed in Note 3.
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
12 Months Ended |
|---|---|
Dec. 31, 2024 | |
| Accounting Policies [Abstract] | |
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Consolidation The consolidated financial statements include those of Moody’s Corporation and its majority- and wholly-owned subsidiaries. The effects of all intercompany transactions have been eliminated. Investments in companies for which the Company has significant influence over operating and financial policies but not a controlling interest are accounted for on an equity basis whereby the Company records its proportional share of the investment’s net income or loss as part of other non-operating income (expense), net and any dividends received reduce the carrying amount of the investment. Equity investments without a readily determinable fair value for which the Company does not have significant influence are accounted for under the ASC Topic 321 measurement alternative; these investments are recorded at initial cost, less impairment, adjusted upward or downward for any observable price changes in similar investments. The Company applies the guidelines set forth in ASC Topic 810 assessing its interests in voting and variable interest entities to decide whether to consolidate an entity. The Company has reviewed the potential variable interest entities and determined that there are no consolidation requirements under ASC Topic 810. The Company consolidates its ICRA subsidiaries on a three month lag. Cash and Cash Equivalents Cash equivalents principally consist of investments in money market deposit accounts and money market funds as well as certificates of deposit with maturities of three months or less when purchased. Short-term Investments Short-term investments are securities with maturities greater than 90 days at the time of purchase that are available for operations in the next 12 months. The Company’s short-term investments primarily consist of certificates of deposit and their cost approximates fair value due to the short-term nature of the instruments. Interest and dividends on these investments are recorded into income when earned. Property and Equipment Property and equipment are stated at cost and are depreciated using the straight-line method over their estimated useful lives. Expenditures for maintenance and repairs that do not extend the economic useful life of the related assets are charged to expense as incurred. Computer Software Developed or Obtained for Internal Use The Company capitalizes costs related to software developed or obtained for internal use. These assets, included in property and equipment in the consolidated balance sheets, relate to MA's SaaS-based solutions as well as the Company’s financial, website and other systems. Such costs generally consist of employee compensation, direct costs for third-party license fees and professional services provided by third parties, in each case incurred either during the application development stage or in connection with upgrades and enhancements that increase functionality. Such costs are depreciated over their estimated useful lives on a straight-line basis. Costs incurred during the preliminary project stage of development as well as maintenance costs are expensed as incurred. The Company also capitalizes implementation costs incurred in cloud computing arrangements (e.g., hosted arrangements) and depreciates the costs over the non-cancellable term of the cloud computing arrangements plus any option renewal periods that are reasonably certain to be exercised or for which the exercise is controlled by the service provider. The Company classifies the amortization of capitalized implementation costs in the same line item in the consolidated statement of operations as the fees associated with the hosting service (i.e., operating and SG&A expense) and classifies the related payments in the consolidated statement of cash flows in the same manner as payments made for fees associated with the hosting service (i.e. cash flows from operating activities). In addition, the capitalization of implementation costs is reflected in the consolidated balance sheets consistent with the location of prepayment of fees for the hosting element (i.e., within other current assets or other assets). Goodwill and Other Acquired Intangible Assets Moody’s evaluates its goodwill for impairment at the reporting unit level, defined as an operating segment (i.e., MA and MIS), or one level below an operating segment (i.e., a component of an operating segment), annually as of July 31 or more frequently if impairment indicators arise in accordance with ASC Topic 350. The Company evaluates the recoverability of goodwill using a two-step impairment test approach at the reporting unit level. In the first step, the Company assesses various qualitative factors to determine whether the fair value of a reporting unit may be less than its carrying amount. If a determination is made based on the qualitative factors that an impairment does not exist, the Company is not required to perform further testing. If the aforementioned qualitative assessment results in the Company concluding that it is more likely than not that the fair value of a reporting unit may be less than its carrying amount, the fair value of the reporting unit will be quantitatively determined and compared to its carrying value including goodwill. If the fair value of the reporting unit exceeds the carrying value of the net assets assigned to that unit, goodwill is not impaired and the Company is not required to perform further testing. If the fair value of the reporting unit is less than the carrying value, the Company will record a goodwill impairment charge for the amount by which the carrying value exceeds the reporting unit’s fair value. The Company evaluates its reporting units on an annual basis, or more frequently if there are changes in the reporting structure of the Company due to acquisitions, realignments or if there are indicators of potential impairment. For the reporting units where the Company is consistently able to conclude that no impairment exists using only a qualitative approach, the Company’s accounting policy is to perform the second step of the aforementioned goodwill impairment assessment at least once every three years. For purposes of assessing the recoverability of goodwill, the Company has four reporting units: two reporting units within MA consisting of businesses that offer: i) data and data-driven analytical solutions; and ii) risk-management software, workflow and CRE solutions and two within the Company’s ratings business (one for the ICRA business and one that encompasses all of Moody’s other ratings operations). Impairment of long-lived assets and definite-lived intangible assets Long-lived assets (including ROU Assets) and amortizable intangible assets are reviewed for recoverability whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Under the first step of the recoverability assessment, the Company compares the estimated undiscounted future cash flows attributable to the asset or asset group to their carrying value. If the undiscounted future cash flows are greater than the carrying value, no further assessment is required. If the undiscounted future cash flows are less than the carrying value, Moody's proceeds with step two of the assessment. Under step two of this assessment, Moody's is required to determine the fair value of the asset or asset group (reduced by the estimated cost to sell the asset for assets or disposal groups classified as held-for-sale) and recognize an impairment loss if the carrying amount exceeds its fair value. Stock-Based Compensation The Company records compensation expense over the requisite service period for all share-based payment award transactions granted to employees based on the fair value of the equity instrument at the time of grant. This includes shares issued under stock option and restricted stock plans. Derivative Instruments and Hedging Activities Based on the Company’s risk management policy, the Company may use derivative financial instruments to reduce exposure to changes in foreign exchange rates and interest rates. The Company does not enter into derivative financial instruments for speculative purposes. All derivative financial instruments are recorded on the consolidated balance sheets at their respective fair values on a gross basis. The changes in the value of derivatives that qualify as fair value hedges are recorded in the same income statement line item in earnings in which the corresponding adjustment to the carrying value of the hedged item is presented. The entire change in the fair value of derivatives that qualify as cash flow hedges is recorded to OCI and such amounts are reclassified from AOCI(L) to the same income statement line in earnings in the same period or periods during which the hedged transaction affects income. The Company assesses effectiveness for net investment hedges using the spot-method. The entire change in the fair value of derivatives that qualify as net investment hedges is initially recorded to OCI. Those changes in fair value attributable to components included in the assessment of hedge effectiveness in a net investment hedge are recorded in the currency translation adjustment component of OCI and remain in AOCI(L) until the period in which the hedged item affects earnings. Those changes in fair value attributable to components excluded from the assessment of hedge effectiveness in a net investment hedge are recorded to OCI and amortized to earnings using a systematic and rational method over the duration of the hedge. Any changes in the fair value of derivatives that the Company does not designate as hedging instruments under ASC Topic 815 are recorded in the consolidated statements of operations in the period in which they occur. Cash flows from derivatives are recognized in the consolidated statements of cash flows in a manner consistent with the recognition of the underlying hedged item. Revenue Recognition and Costs to Obtain or Fulfill a Contract with a Customer Revenue recognition: Revenue is recognized when control of promised goods or services is transferred to the customer, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. When contracts with customers contain multiple performance obligations, the Company accounts for individual performance obligations separately if they are distinct. The transaction price is allocated to each distinct performance obligation on a relative SSP basis. The Company determines the SSP by using the price charged for a deliverable when sold separately or uses management’s best estimate of SSP for goods or services not sold separately using estimation techniques that maximize observable data points, including: internal factors relevant to its pricing practices such as costs and margin objectives; standalone sales prices of similar products; pricing policies; percentage of the fee charged for a primary product or service relative to a related product or service; and geography. Sales, usage-based, value added and other taxes are excluded from revenues. MA Revenue In the MA segment, products and services offered by the Company include hosted research and data subscriptions, installed and hosted software subscriptions, perpetual installed software licenses and related maintenance, or PCS, and professional services. Subscription and PCS contracts are generally invoiced in advance of the contractual coverage period, which is principally one year, but can range from 3-5 years. Professional services are invoiced as those services are provided. Payment terms and conditions vary by contract type, but primarily include a requirement of payment within 30 to 60 days. Revenue from research, data and other hosted subscriptions is recognized ratably over the related subscription period as MA's performance obligation to provide access to these products is progressively fulfilled over the stated term of the contract. A large portion of these services are invoiced in the months of November, December and January. Revenue from installed software subscriptions, which includes PCS, is bifurcated into a software license performance obligation and a PCS performance obligation, which follow the patterns of recognition described above, except for those installed subscriptions where the software license and PCS performance obligations were determined to be incapable of being distinct from each other in accordance with ASC 606-10-25-19 and ASC 606-10-25-20. In such instances, revenue is recognized over time. Revenue from the sale of a software license, when considered distinct from the related software implementation services, is generally recognized at the time the product master or first copy is delivered or transferred to the customer. PCS is generally recognized ratably over the contractual period commencing when the software license is fully delivered. For implementation services and other service projects for which fees are fixed, the Company determined progress towards completion is most accurately measured on a percentage-of-completion basis (input method) as this approach utilizes the most directly observable data points and is therefore used to recognize the related revenue. For implementation services where price varies based on time expended, a time-based measure of progress towards completion of the performance obligation is utilized. Revenue from professional services rendered is generally recognized over time as the services are performed. Products and services offered within the MA segment are sold either stand-alone or together in various combinations. In instances where an arrangement contains multiple performance obligations, the Company accounts for the individual performance obligations separately if they are considered distinct. Revenue is generally allocated to all performance obligations based upon the relative SSP at contract inception. For certain performance obligations, judgment is required to determine the SSP. Revenue is recognized for each performance obligation based upon the conditions for revenue recognition noted above. In the MA segment, customers usually pay a fixed fee for the products and services based on signed contracts. However, accounting for variable consideration is applied mainly for: i) estimates for cancellation rights and price concessions and ii) T&M based services. The Company estimates the variable consideration associated with cancellation rights and price concessions based on the expected amount to be provided to customers and reduces the amount of revenue to be recognized. MIS Revenue In the MIS segment, revenue arrangements with multiple elements are generally comprised of two distinct performance obligations, a rating and the related monitoring service. Revenue attributed to ratings of issued securities is generally recognized when the rating is delivered to the issuer. Revenue attributed to monitoring of issuers or issued securities is recognized ratably over the period in which the monitoring is performed, generally one year. In the case of certain structured finance products, primarily CMBS, issuers can elect to pay all of the annual monitoring fees upfront. These fees are deferred and recognized over the future monitoring periods based on the expected lives of the rated securities. MIS arrangements generally have standard contractual terms for which the stated payments are due at conclusion of the ratings process for ratings and either upfront or in arrears for monitoring services; and are signed by customers either on a per issue basis or at the beginning of the relationship with the customer. In situations when customer fees for an arrangement may be variable, the Company estimates the variable consideration at inception using the expected value method based on analysis of similar contracts in the same line of business, which is constrained based on the Company’s assessment of the realization of the adjustment amount. The Company allocates the transaction price within arrangements that include multiple performance obligations based upon the relative SSP of each service. The SSP for both rating and monitoring services is generally based upon observable selling prices where the rating or monitoring service is sold separately to similar customers. Costs to Obtain or Fulfill a Contract with a Customer: Costs to obtain a contract with a customer Costs incurred to obtain customer contracts, such as sales commissions, are deferred and recorded within other current assets and other assets when such costs are determined to be incremental to obtaining a contract, would not have been incurred otherwise and the Company expects to recover those costs. These costs are amortized to expense on a systematic basis consistent with the transfer of the products or services to the customer. Depending on the line of business to which the contract relates, this may be based upon the average economic life of the products sold or average period for which services are provided, inclusive of anticipated contract renewals. Determining the estimated economic life of the products sold requires judgment with respect to anticipated future technological changes. Costs to obtain customer contracts are only incurred in the MA segment. Cost to fulfill a contract with a customer Costs incurred to fulfill customer contracts, are deferred and recorded within other current assets and other assets when such costs relate directly to a contract, generate or enhance resources of the Company that will be used in satisfying performance obligations in the future and the Company expects to recover those costs. The Company capitalizes royalty costs within the MA segment related to third-party information data providers associated with hosted company information and business intelligence products. These costs are amortized to expense consistent with the recognition pattern of the related revenue over time. In addition, the Company capitalizes work-in-process costs for in-progress MIS ratings, which is recognized consistent with the rendering of the related services to the customers, as ratings are issued. Accounts Receivable Allowances In order to determine an estimate of expected credit losses, receivables are segmented based on similar risk characteristics including historical credit loss patterns to calculate reserve rates. The Company uses an aging method for developing its allowance for credit losses by which receivable balances are stratified based on aging category. A reserve rate is calculated for each aging category which is generally based on historical information, and is adjusted, when necessary, for current conditions (e.g., macroeconomic or industry related) and reasonable and supportable forecasts about the future. The Company also considers customer specific information (e.g., bankruptcy or financial difficulty) when estimating its expected credit losses, as well as the economic environment of the customers, both from an industry and geographic perspective, in evaluating the need for allowances. Expected credit losses are reflected as additions to the accounts receivable allowance. Actual uncollectible account write-offs are recorded against the allowance. Leases The Company has operating leases, which substantially all relate to the lease of office space. The Company’s leases which are classified as finance leases are not material to the consolidated financial statements. The Company determines if an arrangement meets the definition of a lease at contract inception. The Company recognizes in its consolidated balance sheets a lease liability and an ROU Asset for all leases with a lease term greater than 12 months. In determining the length of the lease term, the Company utilizes judgment in assessing the likelihood of whether it is reasonably certain that it will exercise an option to extend or early-terminate a lease, if such options are provided in the lease agreement. ROU Assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU Assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As substantially all of the Company’s leases do not provide an implicit interest rate, the Company uses its estimated secured incremental borrowing rates at the lease commencement date in determining the present value of lease payments. These secured incremental borrowing rates are attributable to the currency in which the lease is denominated. At commencement, the Company’s initial measurement of the ROU Asset is calculated as the present value of the remaining lease payments (i.e., lease liability), with additive adjustments reflecting: initial direct costs (e.g., broker commissions) and prepaid lease payments (if any); and reduced by any lease incentives provided by the lessor if: (i) received before lease commencement or (ii) receipt of the lease incentive is contingent upon future events for which the occurrence is both probable and within the Company’s control. Lease expense for minimum operating lease payments is recognized on a straight-line basis over the lease term. This straight-line lease expense represents a single lease cost which is comprised of both an interest accretion component relating to the lease liability and amortization of the ROU Assets. The Company records this single lease cost in operating and SG&A expenses. However, in situations where an operating lease ROU Asset has been impaired, the subsequent amortization of the ROU Asset is then recorded on a straight-line basis over the remaining lease term and is combined with accretion expense on the lease liability to result in single operating lease cost (which subsequent to impairment will no longer follow a straight-line recognition pattern). The Company has lease agreements which include lease and non-lease components. For the Company’s office space leases, the lease components (e.g., fixed rent payments) and non-lease components (e.g., fixed common-area maintenance costs) are combined and accounted for as a single lease component. Variable lease payments (e.g., variable common-area-maintenance costs) are only included in the initial measurement of the lease liability to the extent those payments depend on an index or a rate. Variable lease payments not included in the lease liability are recognized in net income in the period in which the obligation for those payments is incurred. Contingencies Moody’s is involved in legal and tax proceedings, governmental, regulatory and legislative investigations and inquiries, claims and litigation that are incidental to the Company’s business, including claims based on ratings assigned by MIS. Moody’s is also subject to ongoing tax audits in the normal course of business. Management periodically assesses the Company’s liabilities and contingencies in connection with these matters based upon the latest information available. Moody’s discloses material pending legal proceedings pursuant to SEC rules and other pending matters as it may determine to be appropriate. For claims, litigation and proceedings and governmental investigations and inquiries not related to income taxes, the Company records liabilities in the consolidated financial statements when it is both probable that a liability has been incurred and the amount of loss can be reasonably estimated and periodically adjusts these as appropriate. When the reasonable estimate of the loss is within a range of amounts, the minimum amount of the range is accrued unless some higher amount within the range is a better estimate than another amount within the range. In instances when a loss is reasonably possible but uncertainties exist related to the probable outcome and/or the amount or range of loss, management does not record a liability but discloses the contingency if material. As additional information becomes available, the Company adjusts its assessments and estimates of such matters accordingly. Moody’s also discloses material pending legal proceedings pursuant to SEC rules and other pending matters as it may determine to be appropriate. In view of the inherent difficulty of assessing the potential outcome of legal proceedings, governmental, regulatory and legislative investigations and inquiries, claims and litigation and similar matters and contingencies, particularly when the claimants seek large or indeterminate damages or assert novel legal theories or the matters involve a large number of parties, the Company often cannot predict what the eventual outcome of the pending matters will be or the timing of any resolution of such matters. The Company also may be unable to predict the impact (if any) that any such matters may have on how its business is conducted, on its competitive position or on its financial position, results of operations or cash flows. As the process to resolve any pending matters progresses, management will continue to review the latest information available and assess its ability to predict the outcome of such matters and the effects, if any, on its operations and financial condition and to accrue for and disclose such matters as and when required. However, because such matters are inherently unpredictable and unfavorable developments or resolutions can occur, the ultimate outcome of such matters, including the amount of any loss, may differ from those estimates. Operating Expenses Operating expenses include costs associated with the development and production of the Company’s products and services and their delivery to customers. These expenses principally include employee compensation and benefits and travel costs that are incurred in connection with these activities. Operating expenses are charged to income as incurred. Selling, General and Administrative Expenses SG&A expenses include such items as compensation and benefits for corporate officers and staff and compensation and other expenses related to sales. They also include items such as office rent, business insurance and professional fees. SG&A expenses are charged to income as incurred. Foreign Currency Translation For all operations outside the U.S. where the Company has designated the local currency as the functional currency, assets and liabilities are translated into U.S. dollars using end of year exchange rates, and revenue and expenses are translated using average exchange rates for the year. For these foreign operations, currency translation adjustments are recorded to other comprehensive income. Comprehensive Income Comprehensive income represents the change in net assets of a business enterprise during a period due to transactions and other events and circumstances from non-owner sources including: foreign currency translation impacts; net actuarial gains and losses and net prior service costs related to pension and other retirement plans; and gains and losses on derivative instruments designated as net investment hedges or cash flow hedges. Comprehensive income items, including cumulative translation adjustments of entities that are less-than-wholly-owned subsidiaries, will be reclassified to noncontrolling interests and thereby, adjusting AOCI(L) proportionately in accordance with the percentage of ownership interest of the non-controlling shareholder. Additionally, the Company reclassifies the income tax effects from AOCI(L) at such time as the earnings or loss of the related activity are recognized in earnings. Income Taxes The Company accounts for income taxes under the asset and liability method in accordance with ASC Topic 740. Therefore, income tax expense is based on reported income before income taxes and deferred income taxes reflect the effect of temporary differences between the amounts of assets and liabilities that are recognized for financial reporting purposes and the amounts that are recognized for income tax purposes. The Company classifies interest related to unrecognized tax benefits as a component of interest expense in its consolidated statements of operations. Penalties are recognized in other non-operating expenses. For UTPs, the Company first determines whether it is more-likely-than-not (defined as a likelihood of more than fifty percent) that a tax position will be sustained based on its technical merits as of the reporting date, assuming that taxing authorities will examine the position and have full knowledge of all relevant information. A tax position that meets this more-likely-than-not threshold is then measured and recognized at the largest amount of benefit that is greater than fifty percent likely to be realized upon effective settlement with a taxing authority. The Company has provided deferred taxes for those entities whose earnings are not considered indefinitely reinvested. Fair Value of Financial Instruments The Company’s financial instruments include cash, cash equivalents, trade receivables and payables, and certain short-term investments consisting primarily of certificates of deposit and money market deposits, all of which are short-term in nature and, accordingly, approximate fair value. The Company also invests in mutual funds, which are accounted for as equity securities with readily determinable fair values under ASC Topic 321. The Company measures these investments at fair value with both realized gains and losses and unrealized holding gains and losses for these investments included in net income. Also, the Company uses derivative instruments to manage certain financial exposures that occur in the normal course of business. These derivative instruments are carried at fair value in the Company’s consolidated balance sheets. Fair value is defined by the ASC Topic 820 as the price that would be received from selling an asset or paid to transfer a liability (i.e., an exit price) in an orderly transaction between market participants at the measurement date. The determination of this fair value is based on the principal or most advantageous market in which the Company could commence transactions and considers assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions and risk of nonperformance. Also, determination of fair value assumes that market participants will consider the highest and best use of the asset. The ASC establishes a fair value hierarchy whereby the inputs contained in valuation techniques used to measure fair value are categorized into three broad levels as follows: Level 1: quoted market prices in active markets that the reporting entity has the ability to access at the date of the fair value measurement; Level 2: inputs other than quoted market prices described in Level 1 that are observable for the asset or liability, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; Level 3: unobservable inputs that are supported by little or no market activity and that are significant to the fair value measurement of the assets or liabilities. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk principally consist of cash and cash equivalents, short-term investments, trade receivables and derivatives. For cash and cash equivalents, short-term investments and derivatives, the Company manages its credit exposure by limiting the amount of counterparty risk with any particular financial institution; limits are assigned to each counterparty based on perceived quality of credit and are monitored daily. Cash equivalents are held among various money market deposit accounts, money market funds, and certificates of deposits as of December 31, 2024 and 2023. Short-term investments primarily consist of certificates of deposit as of December 31, 2024 and 2023. Derivatives primarily consist of foreign exchange forwards or swap contracts (interest rate swaps and cross-currency swaps) as of December 31, 2024 and 2023. For trade receivables, no customer accounted for 10% or more of accounts receivable at December 31, 2024 or 2023. Earnings per Share of Common Stock Basic shares outstanding is calculated based on the weighted average number of shares of common stock outstanding during the reporting period. Diluted shares outstanding is calculated giving effect to all potentially dilutive common shares, assuming that such shares were outstanding and dilutive during the reporting period. Pension and Other Retirement Benefits Moody’s maintains various noncontributory DBPPs as well as other contributory and noncontributory retirement plans. The expense and assets/liabilities that the Company reports for its pension and other retirement benefits are dependent on many assumptions concerning the outcome of future events and circumstances. These assumptions represent the Company’s best estimates and may vary by plan. The differences between the assumptions for the expected long-term rate of return on plan assets and actual experience is spread over a five-year period to the market-related value of plan assets, which is used in determining the expected return on assets component of annual pension expense. All other actuarial gains and losses are generally deferred and amortized over the estimated average future working life of active plan participants. The Company recognizes as an asset or liability in its consolidated balance sheet the funded status of its defined benefit retirement plans, measured on a plan-by-plan basis. Changes in the funded status due to actuarial gains/losses are recorded as part of other comprehensive income during the period the changes occur. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the period. Actual results could differ from those estimates. Recently Issued Accounting Pronouncements In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures" ("ASU No. 2023-09"), which is intended to enhance the transparency and decision usefulness of income tax disclosures. The amendments in ASU No. 2023-09 require entities to disclose additional income tax information, primarily related to greater disaggregation of the entity's ETR reconciliation and income taxes paid by jurisdiction disclosures. This ASU is effective for annual periods beginning after December 15, 2024, and should be applied on a prospective basis; however, retrospective application is permitted. The Company is currently evaluating the impact of adopting this ASU on its consolidated financial statements and disclosures. In November 2024, the FASB issued ASU 2024-03, "Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses" ("ASU No. 2024-03"). The amendments in this ASU require more detailed disclosures about specific expense categories in the notes to financial statements (including employee compensation, depreciation and intangible asset amortization) and apply to both interim and annual reporting periods. ASU No. 2024-03 also requires disclosure of total selling expenses for both interim and annual reporting periods, with an additional requirement to provide an entity’s definition of selling expenses in annual reporting. This ASU is effective in fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The amendments in this ASU should be applied either (1) prospectively for annual and interim reporting periods beginning after the aforementioned effective dates or (2) retrospectively to any or all prior periods presented in the financial statements. The Company is currently evaluating the impact of adopting this ASU on its consolidated financial statements and disclosures.
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REVENUES |
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| Revenue from Contract with Customer [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| REVENUES | REVENUES Revenue by Category The following table presents the Company’s revenues disaggregated by LOB:
(1)Other includes: recurring monitoring fees of a rated debt obligation and/or entities that issue such obligations as well as fees from programs such as commercial paper, medium term notes, and ICRA corporate finance revenue. The following table presents the Company’s revenues disaggregated by LOB and geographic area:
The following table presents the Company's reportable segment revenues disaggregated by segment and geographic region:
The following table summarizes the split between transaction and recurring revenue:
(1) Revenue from software implementation services and risk management advisory projects, while classified by management as transactional revenue, is recognized over time under GAAP. The following table presents the timing of revenue recognition:
Unbilled Receivables, Deferred Revenue and Remaining Performance Obligations Unbilled receivables For certain MA arrangements, the timing of when the Company has the unconditional right to consideration and recognizes revenue occurs prior to invoicing the customer. In addition, certain MIS arrangements contain contractual terms whereby the customers are billed in arrears for annual monitoring services, requiring revenue to be accrued as an unbilled receivable as such services are provided. The following table presents the Company's unbilled receivables, which are included within accounts receivable, net, at December 31, 2024 and December 31, 2023:
Deferred revenue The Company recognizes deferred revenue when a contract requires a customer to pay consideration to the Company in advance of when revenue related to that contract is recognized. This deferred revenue is relieved when the Company satisfies the related performance obligation and revenue is recognized. Significant changes in the deferred revenue balances during the year ended December 31, 2024 are as follows:
Significant changes in the deferred revenue balances during the year ended December 31, 2023 are as follows:
Significant changes in the deferred revenue balances during the year ended December 31, 2022 are as follows:
For the MA segment, for the year ended December 31, 2024, the increase in deferred revenue was primarily due to organic growth. The change in deferred revenue for both segments was not significant for the years ended December 31, 2023 and 2022. Remaining performance obligations Remaining performance obligations in the MA segment include both amounts recorded as deferred revenue on the consolidated balance sheet as of December 31, 2024 as well as amounts not yet invoiced to customers as of December 31, 2024, largely reflecting future revenue related to signed multi-year arrangements for hosted and installed subscription-based products. As of December 31, 2024, the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $4.4 billion. The Company expects to recognize into revenue approximately 55% of this balance within one year, approximately 25% of this balance between to two years and the remaining amount thereafter. Remaining performance obligations in the MIS segment largely reflect deferred revenue related to monitoring fees for certain structured finance products, primarily CMBS, where the issuers can elect to pay the monitoring fees for the life of the security in advance. As of December 31, 2024, the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $102 million. The Company expects to recognize into revenue approximately 25% of this balance within one year, approximately 50% of this balance between to five years and the remaining amount thereafter. With respect to the remaining performance obligations for the MIS segment, the Company has applied a practical expedient set forth in ASC Topic 606 permitting the omission of unsatisfied performance obligations relating to contracts with an original expected length of one year or less. Costs to Obtain or Fulfill a Contract with a Customer MA Costs to Obtain a Contract with a Customer
Amortization of costs incurred to obtain customer contracts is included within SG&A expenses in the consolidated statements of operations. Costs incurred to obtain customer contracts are only in the MA segment. MA and MIS Costs to Fulfill a Contract with a Customer
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RECONCILIATION OF WEIGHTED AVERAGE SHARES OUTSTANDING |
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| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RECONCILIATION OF WEIGHTED AVERAGE SHARES OUTSTANDING | RECONCILIATION OF WEIGHTED AVERAGE SHARES OUTSTANDING Below is a reconciliation of basic to diluted shares outstanding: The calculation of basic shares outstanding is based on the weighted average number of shares of common stock outstanding during the reporting period. The calculation of diluted EPS requires certain assumptions regarding the use of both cash proceeds and assumed proceeds that would be received upon the exercise of stock options and vesting of restricted stock outstanding as of December 31, 2024, 2023 and 2022.
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CASH EQUIVALENTS AND INVESTMENTS |
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| Cash and Cash Equivalents [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| CASH EQUIVALENTS AND INVESTMENTS | CASH EQUIVALENTS AND INVESTMENTS The tables below provide additional information on the Company’s cash equivalents and investments:
(1) Consists of time deposits, money market deposit accounts and money market funds. The remaining contractual maturities for the certificates of deposits classified as short-term investments are 1 month to 12 months at both December 31, 2024 and December 31, 2023. The remaining contractual maturities for the certificates of deposit classified in other assets are 14 months at December 31, 2023. Time deposits with a maturity of less than 90 days at time of purchase are classified as cash and cash equivalents. In addition, the Company is invested in COLI. As of December 31, 2024 and December 31, 2023, the contract value of the COLI was $48 million and $47 million, respectively.
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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES | DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES The Company is exposed to global market risks, including risks from changes in FX rates and changes in interest rates. Accordingly, the Company uses derivatives in certain instances to manage financial exposures that occur in the normal course of business. The Company does not hold or issue derivatives for speculative purposes. Derivatives and non-derivative instruments designated as accounting hedges: Fair Value Hedges Interest Rate Swaps The Company has entered into interest rate swaps to convert the fixed interest rate on certain of its long-term debt to a floating interest rate based on the SOFR. The purpose of these hedges is to mitigate the risk associated with changes in the fair value of the long-term debt, thus the Company has designated these swaps as fair value hedges. The fair value of the swaps is adjusted quarterly with a corresponding adjustment to the carrying value of the debt. The changes in the fair value of the swaps and the underlying hedged item generally offset and the net cash settlements on the swaps are recorded each period within interest expense, net in the Company’s consolidated statements of operations. The following table summarizes the Company’s interest rate swaps designated as fair value hedges:
Refer to Note 16 for information on the cumulative amount of fair value hedging adjustments included in the carrying amount of the above hedged items. The following table summarizes the impact to the statements of operations of the Company’s interest rate swaps designated as fair value hedges:
Net Investment Hedges Debt designated as net investment hedges The Company has designated €500 million of the 2015 Senior Notes Due 2027 and €750 million of the 2019 Senior Notes due 2030 as net investment hedges to mitigate FX exposure related to a portion of the Company’s euro net investment in certain foreign subsidiaries against changes in euro/USD exchange rates. These hedges are designated as accounting hedges under the applicable sections of ASC Topic 815 and will end upon the repayment of the notes in 2027 and 2030, respectively, unless terminated early at the discretion of the Company. Cross currency swaps designated as net investment hedges The Company enters into cross-currency swaps to mitigate FX exposure related to a portion of the Company’s euro net investment in certain foreign subsidiaries against changes in euro/USD exchange rates. The following tables provide information on the cross-currency swaps designated as net investment hedges under ASC Topic 815:
As of December 31, 2024, these hedges will expire and the notional amounts will be settled as follows unless terminated early at the discretion of the Company:
The following table provides information on the gains (losses) on the Company’s net investment and cash flow hedges:
The cumulative amount of net investment hedge and cash flow hedge gains (losses) remaining in AOCL is as follows:
Derivatives not designated as accounting hedges: Foreign exchange forwards The Company also enters into foreign exchange forward contracts to mitigate the change in fair value on certain assets and liabilities denominated in currencies other than a subsidiary’s functional currency. These forward contracts are not designated as accounting hedges under the applicable sections of ASC Topic 815. Accordingly, changes in the fair value of these contracts are recognized immediately in other non-operating income, net in the Company’s consolidated statements of operations along with the FX gain or loss recognized on the assets and liabilities denominated in a currency other than the subsidiary’s functional currency. These contracts have expiration dates at various times through July 2025. The following table summarizes the notional amounts of the Company’s outstanding foreign exchange forwards:
(1) € = euro, £ = British pound, S$ = Singapore dollar, $ = U.S. dollar, ¥ = Japanese yen, C$ = Canadian dollar, ₹= Indian rupee, A$ = Australian dollar Total Return Swaps The Company has entered into total return swaps to mitigate market-driven changes in the value of certain liabilities associated with the Company's deferred compensation plans. The fair value of these swaps at December 31, 2024 and related gains in the year ended December 31, 2024 were not material. The notional amount of the total return swaps at December 31, 2024 and December 31, 2023 was $66 million and $58 million, respectively. The following table summarizes the impact to the consolidated statements of operations relating to the gains (losses) on the Company’s derivatives which are not designated as hedging instruments:
The table below shows the classification between assets and liabilities on the Company’s consolidated balance sheets for the fair value of the derivative instruments as well as the carrying value of its non-derivative debt instruments designated and qualifying as net investment hedges:
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PROPERTY AND EQUIPMENT, NET |
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| Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PROPERTY AND EQUIPMENT, NET | PROPERTY AND EQUIPMENT, NET Property and equipment, net consisted of:
The increase in internal-use computer software in the table above primarily relates to capitalized software development costs pursuant to MA's strategic shift to SaaS-based solutions. Depreciation and amortization expense related to the above assets for the years ended December 31, 2024, 2023, and 2022 was $233 million, $175 million, and $131 million, respectively, of which $180 million, $121 million, and $79 million, respectively, related to amortization of internal-use computer software. The amounts for the year ended December 31, 2024 exclude incremental amortization expense of $26 million associated with internal-use computer software which is presented within charges related to asset abandonment on the consolidated statement of operations, as more fully discussed in Note 22 to the consolidated financial statements. On a weighted-average basis, Moody's internal-use computer software has an estimated useful life of approximately 4.4 years.
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GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS |
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| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS | GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS The following tables summarize the activity in goodwill:
(1)The 2024 additions/adjustments primarily relate to certain immaterial acquisitions in 2024 (most notably GCR, Numerated and Praedicat). (2)The 2023 additions/adjustments primarily relate to a reallocation of goodwill pursuant to a realignment of certain components of the Company's ESG business in the first quarter of 2023 Acquired intangible assets and related accumulated amortization consisted of:
(1)Other intangible assets primarily consist of trade secrets, covenants not to compete, and acquired ratings methodologies and models. Amortization expense relating to acquired intangible assets is as follows:
(1)Amount for the year ended December 31, 2024 excludes incremental amortization expense of $5 million associated with amortizable intangible assets which is presented within charges related to asset abandonment on the consolidated statement of operations, as more fully discussed in Note 22 to the consolidated financial statements. Estimated future annual amortization expense for intangible assets subject to amortization is as follows:
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RESTRUCTURING |
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| Restructuring and Related Activities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RESTRUCTURING | RESTRUCTURING On December 19, 2024, the CEO of Moody’s approved the Strategic and Operational Efficiency Restructuring Program. The Company estimates that upon completion, the program will result in annualized savings of $250 million to $300 million. This program relates to the Company's strategy to realign its operations toward high priority growth areas and to consolidate certain functions to simplify the organization to enable improved operating efficiency and leverage. This program will primarily include a reduction in staff, the rationalization and exit of certain leased office spaces and the retirement of certain legacy software applications. The program includes $170 million to $200 million of expected pre-tax personnel-related restructuring charges, an amount that includes severance costs, expense related to the modification of equity awards and other related costs primarily determined under the Company’s existing severance plans. In addition, the program is expected to result in $10 million to $20 million of non-cash charges from the exit from certain leased office spaces and $20 million to $30 million of non-cash charges related to incremental amortization of internally developed software due to a reduction in the useful life of the software assets. The savings generated from the Strategic and Operational Efficiency Restructuring Program are expected to strengthen the Company's operating margin, with a portion being deployed to support strategic investments. The Strategic and Operational Efficiency Restructuring Program is expected to be substantially complete by the end of 2026. Cash outlays associated with this program are expected to be $170 million to $200 million, which are expected to be paid through 2027. On June 30, 2022, the CEO of Moody’s approved the 2022 - 2023 Geolocation Restructuring Program. This program related to the Company's post-COVID-19 geolocation strategy and other strategic initiatives and included the rationalization and exit of certain leased office spaces and a reduction in staff, including the relocation of certain job functions. Cumulative charges related to this program are shown in the table below. The savings generated from the 2022 - 2023 Geolocation Restructuring Program will strengthen the Company's operating margin, with a portion being deployed to support strategic investments, including the Company's workplace of the future program and employee retention initiatives. The 2022 - 2023 Geolocation Restructuring Program was substantially complete at the end of 2023. Total expenses included in the accompanying consolidated statements of operations related to the aforementioned restructuring programs are outlined below:
(1)For the year ended December 31, 2023, primarily includes ROU Asset impairment charges. For the year ended December 31, 2022, primarily includes ROU Asset and leasehold improvement impairment charges and the non-cash acceleration of amortization of abandoned ROU Assets and leasehold improvements. The fair value of the impaired assets in both periods was determined by utilizing the present value of the estimated future cash flows attributable to the assets. The fair value of those assets subsequent to the impairment for the year ended December 31, 2023 was $4 million and was categorized as Level 3 within the ASC Topic 820 fair value hierarchy. The fair value of those assets subsequent to the impairment for the year ended December 31, 2022 was $0. (2)Primarily includes professional service fees related to execution of the restructuring program. (3)Primarily includes severance costs and expense related to the modification of equity awards. Changes to the restructuring liability for the aforementioned restructuring programs were as follows:
(1)Restructuring liability is primarily comprised of employee termination costs and other severance-related charges. As of December 31, 2024, substantially all of the remaining $47 million restructuring liability is expected to be paid out in 2025.
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FAIR VALUE |
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| FAIR VALUE | FAIR VALUE The tables below present information about items that are carried at fair value at December 31, 2024 and 2023:
(1)Represents fair value of certain derivative contracts as more fully described in Note 6 to the consolidated financial statements. The following are descriptions of the methodologies utilized by the Company to estimate the fair value of its derivative contracts, money market mutual funds and mutual funds: Derivatives: In determining the fair value of the derivative contracts in the tables above, the Company utilizes industry standard valuation models. Where applicable, these models project future cash flows and discount the future amounts to a present value using spot rates, forward points, currency volatilities, interest rates as well as the risk of non-performance of the Company and the counterparties with whom it has derivative contracts. The Company established strict counterparty credit guidelines and only enters into transactions with financial institutions that adhere to these guidelines. Accordingly, the risk of counterparty default is deemed to be minimal. Money market funds and mutual funds: The money market funds and mutual funds in the tables above are deemed to be equity securities with readily determinable fair values with changes in fair value recognized through net income under ASC Topic 321. The fair value of these instruments is determined using Level 1 inputs as defined in the ASC Topic 820.
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OTHER BALANCE SHEET INFORMATION |
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| Other Balance Sheet Information [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| OTHER BALANCE SHEET INFORMATION | OTHER BALANCE SHEET INFORMATION The following tables contain additional detail related to certain balance sheet captions:
Investments in non-consolidated affiliates: The following table provides additional detail regarding Moody's investments in non-consolidated affiliates, as included in other assets in the consolidated balance sheets:
(1)Equity securities in which the Company has significant influence over the investee but does not have a controlling financial interest in accordance with ASC Topic 323. (2)Equity securities without readily determinable fair value for which the Company has elected to apply the measurement alternative in accordance with ASC Topic 321, which is more fully discussed in Note 2. Moody's holds various investments accounted for under the equity method, the most significant of which is the Company's minority investment in CCXI. Moody's also holds various investments measured using the measurement alternative, the most significant of which is the Company's minority interest in BitSight. Refer to Note 22 for disclosure on earnings from non-consolidated affiliates, which are included within other non-operating income, net.
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COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME |
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| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME | COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME The amounts reclassified out of AOCL, as shown in the consolidated statements of comprehensive income, were not material for all periods presented. The following tables show changes in AOCL by component (net of tax):
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PENSION AND OTHER RETIREMENT BENEFITS |
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| Retirement Benefits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PENSION AND OTHER RETIREMENT BENEFITS | PENSION AND OTHER RETIREMENT BENEFITS U.S. Plans Moody’s maintains funded and unfunded noncontributory DBPPs. The DBPPs provide defined benefits using a cash balance formula based on years of service and career average salary or final average pay for selected executives. The Company also provides certain healthcare and life insurance benefits for retired U.S. employees. The retirement healthcare plans are contributory; the life insurance plans are noncontributory. Moody’s funded and unfunded U.S. pension plans, the U.S. retirement healthcare plans and the U.S. retirement life insurance plans are collectively referred to herein as the “Retirement Plans.” The U.S. retirement healthcare plans and the U.S. retirement life insurance plans are collectively referred to herein as the “Other Retirement Plans.” Through 2007, substantially all U.S. employees were eligible to participate in the Company’s DBPPs. Effective January 1, 2008, the Company no longer offers DBPPs to U.S. employees hired or rehired on or after January 1, 2008, and new hires in the U.S. instead will receive a retirement contribution in similar benefit value under the Company’s Profit Participation Plan. Current participants of the Company’s Retirement Plans and Other Retirement Plans continue to accrue benefits based on existing plan benefit formulas. The following is a summary of changes in benefit obligations and fair value of plan assets for the Retirement Plans for the years ended December 31:
The net decrease in the pension benefit obligation from assumption changes in 2024 primarily resulted from increases to the discount rates used to measure the obligation. The net increase in the pension benefit obligation from assumption changes and actuarial losses in 2023 primarily resulted from decreases to the discount rates and an increase to the annuity conversion rate used to measure the obligation. The following information is for those pension plans with an accumulated benefit obligation in excess of plan assets:
The following table summarizes the pre-tax net actuarial losses and prior service costs recognized in AOCL for the Company’s Retirement Plans as of December 31:
Net periodic pension expenses (income) recognized for the Retirement Plans are as follows for the years ended December 31:
The following table summarizes the pre-tax amounts recorded in OCI related to the Company’s Retirement Plans for the years ended December 31:
ADDITIONAL INFORMATION: Assumptions—Retirement Plans Weighted-average assumptions used to determine benefit obligations at December 31:
Weighted-average assumptions used to determine net periodic benefit expense for years ended December 31:
The expected rate of return on plan assets represents the Company’s best estimate of the long-term return on plan assets and is determined by using a building block approach, which generally weighs the underlying long-term expected rate of return for each major asset class based on their respective allocation target within the plan portfolio, net of plan paid expenses. As the assumption reflects a long-term time horizon, the plan performance in any one particular year does not, by itself, significantly influence the Company’s evaluation. For 2024, the expected rate of return used in calculating the net periodic benefit costs was 6.10%. For 2025, the Company’s expected rate of return assumption is 6.60% to reflect the Company’s current view of long-term capital market outlook. Plan Assets Moody’s investment objective for the assets in the funded pension plan is to earn total returns that will minimize future contribution requirements over the long-term within a prudent level of risk. The Company works with its independent investment consultants to determine asset allocation targets for its pension plan investment portfolio based on its assessment of business and financial conditions, demographic and actuarial data, funding characteristics, and related risk factors. Other relevant factors, including historical and forward looking views of inflation and capital market returns, are also considered. Risk management practices include monitoring plan asset performance, diversification across asset classes and investment styles and periodic rebalancing toward asset allocation targets. The Company’s Asset Management Committee is responsible for overseeing the investment activities of the plan, which includes selecting acceptable asset classes, defining allowable ranges of holdings by asset class and by individual investment managers, defining acceptable securities within each asset class, and establishing investment performance expectations. Ongoing monitoring of the plan includes reviews of investment performance and managers on a regular basis, annual liability measurements, and periodic asset/liability studies. The Company’s investment policy uses risk-controlled investment strategies by increasing the plan’s asset allocation to fixed income securities and specifying ranges of acceptable target allocation by asset class based on different levels of the plan’s accounting funded status. In addition, the investment policy also requires the investment-grade fixed income assets to be rebalanced between shorter and longer duration bonds as the interest rate environment changes. This investment policy is designed to help protect the plan’s funded status and to limit volatility of the Company’s contributions. Based on the policy, the Company’s current target asset allocation is approximately 35% (range of 23% to 46%) in equity securities, 61% (range of 44% to 77%) in fixed income securities and 5% (range of 2% to 8%) in other investments and the plan will use a combination of active and passive investment strategies and different investment styles for its investment portfolios within each asset class. The plan’s equity investments are diversified across U.S. and non-U.S. stocks of small, medium and large capitalization. The plan’s fixed income investments are diversified principally across U.S. and non-U.S. government and corporate bonds, which are expected to help reduce plan exposure to interest rate variation and to better align assets with obligations. The plan also invests in other fixed income investments such as debts rated below investment grade, emerging market debt, and convertible securities. The plan’s other investment, which is made through a private real estate debt fund, is expected to provide additional diversification benefits and absolute return enhancement to the plan assets. Fair value of the assets in the Company’s funded pension plan by asset category at December 31, 2024 and 2023 are as follows:
(1)Investments are measured using the net asset value per share (or its equivalent) practical expedient and have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit a reconciliation of the fair value hierarchy to the value of the total plan assets. Cash and cash equivalents are primarily comprised of investments in money market mutual funds. In determining fair value, Level 1 investments are valued based on quoted market prices in active markets. Investments in common/collective trust and private mutual funds are valued using the NAV per unit in each fund. The NAV is based on the value of the underlying investments owned by each fund, minus its liabilities, and then divided by the number of shares outstanding. Common/collective trust funds and the private mutual fund are categorized in Level 2 to the extent that they are considered to have a readily determinable fair value. Investments for which fair value is estimated by using the NAV per share (or its equivalent) as a practical expedient are not categorized in the fair value hierarchy. Except for the Company’s U.S. funded pension plan, all of Moody’s Retirement Plans are unfunded and therefore have no plan assets. Cash Flows The Company did not contribute to its U.S. funded pension plan during the years ended December 31, 2024 and 2023, and does not anticipate making a contribution to the funded plan in 2025. For its unfunded plans, actual contributions in 2024 were not material and expected payments in 2025 are not expected to be material. Estimated Future Benefits Payable Estimated future benefits payments for the Retirement Plans are as follows as of the year ended December 31, 2024:
Defined Contribution Plans Moody’s has a Profit Participation Plan covering substantially all U.S. employees. The Profit Participation Plan provides for an employee salary deferral and the Company matches employee contributions, equal to 50% of employee contribution up to a maximum of 3% of the employee’s pay. Effective January 1, 2008, all new hires are automatically enrolled in the Profit Participation Plan when they meet eligibility requirements unless they decline participation. As the Company’s U.S. DBPPs are closed to new entrants effective January 1, 2008, all eligible new hires will instead receive a retirement contribution into the Profit Participation Plan in value similar to the pension benefits. Additionally, effective January 1, 2008, the Company implemented a deferred compensation plan in the U.S., which is unfunded and provides for employee deferral of compensation and Company matching contributions related to compensation in excess of the IRS limitations on benefits and contributions under qualified retirement plans. Total expenses associated with U.S. defined contribution plans were $73 million, $71 million and $35 million in the years ended December 31, 2024, 2023 and 2022, respectively. Effective January 1, 2008, Moody’s has designated the Moody’s Stock Fund, an investment option under the Profit Participation Plan, as an Employee Stock Ownership Plan and, as a result, participants in the Moody’s Stock Fund may receive dividends in cash or may reinvest such dividends into the Moody’s Stock Fund. Dividend payments relating to the Moody’s Stock Fund were immaterial in each of the years ended December 31, 2024, 2023, and 2022. The Company records the dividends as a reduction of retained earnings in the Consolidated Statements of Shareholders’ Equity. The Moody’s Stock Fund held approximately 304,076 and 315,400 shares of Moody’s common stock at December 31, 2024 and 2023, respectively. Non-U.S. Plans Certain of the Company’s non-U.S. operations provide pension benefits to their employees. The non-U.S. defined benefit pension plans are immaterial. For defined contribution plans, company contributions are primarily determined as a percentage of employees’ eligible compensation. Expenses related to these defined contribution plans for the years ended December 31, 2024, 2023, and 2022 were $50 million, $42 million, and $37 million, respectively.
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STOCK-BASED COMPENSATION PLANS |
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| Share-Based Payment Arrangement [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| STOCK-BASED COMPENSATION PLANS | STOCK-BASED COMPENSATION PLANS Under the 1998 Plan, 33.0 million shares of the Company’s common stock have been reserved for issuance. The 2001 Plan, which is shareholder approved, permits the granting of up to 54.6 million shares, of which not more than 10.7 million shares are available for grants of awards other than stock options. The stock plans also provide for the granting of restricted stock. The stock plans provide that options are exercisable not later than ten years from the grant date. The vesting period for awards under the stock plans is generally determined by the Board at the date of the grant and has been four years except for employees who are at or near retirement eligibility, as defined, for which vesting is between and four years. Additionally, the vesting period is between and four years for certain performance-based restricted stock that contain a condition whereby the number of shares that ultimately vest are based on the achievement of certain non-market based performance metrics of the Company. Options may not be granted at less than the fair market value of the Company’s common stock at the date of grant. The Company maintains the Directors’ Plan for its Board, which permits the granting of awards in the form of non-qualified stock options, restricted stock or performance shares. The vesting period is determined by the Board at the date of the grant and is generally one year for both options and restricted stock. Under the Directors’ Plan, 1.7 million shares of common stock were reserved for issuance. Any director of the Company who is not an employee of the Company or any of its subsidiaries as of the date that an award is granted is eligible to participate in the Directors’ Plan. Presented below is a summary of the stock-based compensation expense and associated tax benefit in the accompanying consolidated statements of operations:
The fair value of each employee stock option award is estimated on the date of grant using the Black-Scholes option-pricing model that uses the assumptions noted below. The expected dividend yield is derived from the annual dividend rate on the date of grant. The expected stock volatility is based on an assessment of historical weekly stock prices of the Company as well as implied volatility from Moody’s traded options. The risk-free interest rate is based on U.S. government zero coupon bonds with maturities similar to the expected holding period. The expected holding period is determined by examining historical and projected post-vesting exercise behavior activity. The following weighted average assumptions were used for options granted:
A summary of option activity as of December 31, 2024 and changes during the year then ended is presented below:
The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between Moody’s closing stock price on the last trading day of the year ended December 31, 2024 and the exercise prices, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options as of December 31, 2024. This amount varies based on the fair value of Moody’s stock. As of December 31, 2024, there was $12 million of total unrecognized compensation expense related to options. The expense is expected to be recognized over a weighted average period of 1.9 years. The following table summarizes information relating to stock option exercises:
A summary of nonvested restricted stock activity for the year ended December 31, 2024 is presented below:
As of December 31, 2024, there was $234 million of total unrecognized compensation expense related to nonvested restricted stock. The expense is expected to be recognized over a weighted average period of 2.4 years. The following table summarizes information relating to the vesting of restricted stock awards:
A summary of performance-based restricted stock activity for the year ended December 31, 2024 is presented below:
The following table summarizes information relating to the vesting of the Company’s performance-based restricted stock awards:
As of December 31, 2024, there was $56 million of total unrecognized compensation expense related to this plan. The expense is expected to be recognized over a weighted average period of 2.0 years. The Company has a policy of issuing treasury stock to satisfy shares issued under stock-based compensation plans. In addition, the Company also sponsors the ESPP. Under the ESPP, 6.0 million shares of common stock were reserved for issuance. The ESPP permits eligible employees to purchase common stock of the Company on a monthly basis at a discount to the average of the high and the low trading prices on the New York Stock Exchange on the last trading day of each month. This discount was 5% in 2024, 2023, and 2022, resulting in the ESPP qualifying for non-compensatory status under ASC Topic 718. Accordingly, no compensation expense was recognized for the ESPP in 2024, 2023, and 2022. The employee purchases are funded through after-tax payroll deductions, which plan participants can elect from one percent to ten percent of compensation, subject to the annual federal limit.
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INCOME TAXES |
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| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INCOME TAXES | INCOME TAXES Components of the Company’s income tax provision are as follows:
A reconciliation of the U.S. federal statutory tax rate to the Company’s ETR on income before provision for income taxes is as follows:
The decrease in the ETR in 2023 resulted primarily from the favorable resolution of uncertain tax positions in various U.S. and non-U.S. jurisdictions. The source of income before provision for income taxes is as follows:
The components of deferred tax assets and liabilities are as follows:
On December 22, 2017, the Tax Act was signed into law, which resulted in significant changes to U.S. corporate tax laws. The Tax Act includes a mandatory one-time deemed repatriation tax (“transition tax”) on previously untaxed accumulated earnings of foreign subsidiaries and beginning in 2018 reduced the statutory federal corporate income tax rate from 35% to 21%. Accordingly, the Company determined the transition tax to be $236 million, with the remaining balance due of $12 million as of December 31, 2024. As a result of the Tax Act, all previously net undistributed foreign earnings have now been subject to U.S. tax. The Company regularly evaluates which entities it will indefinitely reinvest earnings. The Company has provided deferred taxes for those entities whose earnings are not considered indefinitely reinvested. The Company’s annual tax expense for the year ended December 31, 2024 includes excess tax benefits from stock-based compensation of $27 million, the favorable resolution of certain U.S. and non-U.S. UTPs of $11 million, and other net decreases to tax positions of $2 million. The Company had valuation allowances of $25 million and $24 million at December 31, 2024 and 2023, respectively, related to foreign net operating losses for which realization is uncertain. A reconciliation of the beginning and ending amount of UTPs is as follows:
Moody’s Corporation and subsidiaries are subject to U.S. federal income tax as well as income tax in various state, local and multiple foreign jurisdictions. The Company’s U.S. federal income tax returns for 2021 through 2023 remain open to examination. The Company’s New York City tax returns for 2018 through 2022 are currently under examination and 2023 is open for examination. The Company’s U.K. tax returns from 2017 to 2023 remain open to examination. As of December 31, 2024, the Company had $211 million of UTPs. Given the number of years and nature of matters that remain subject to examination in various tax jurisdictions both in the U.S. and internationally, the Company is unable to estimate a range of possible changes to its UTPs for 2025. It is also possible that new issues might be raised by tax authorities which might necessitate increases to the balance of UTPs. As the Company is unable to predict the timing of conclusion of these audits, the Company is unable to estimate the amount of changes to the balance of UTPs at this time. However, the Company believes that it has adequately provided for its financial exposure relating to all open tax years, by tax jurisdiction, in accordance with ASC Topic 740. The Company classifies interest related to UTPs in interest expense in its consolidated statements of operations. Penalties, if incurred, are recognized in other non-operating (expense) income, net. Refer to Note 16 for disclosure of interest (expense) income relating to UTPs and other tax-related liabilities. As of December 31, 2024, 2023 and 2022 the amount of accrued interest recorded in the Company’s consolidated balance sheets related to UTPs was $47 million, $36 million and $47 million, respectively. In August 2022, the U.S. Congress passed the Inflation Reduction Act, which included a corporate minimum tax on book earnings of 15%, an excise tax on corporate share repurchases of 1%, and certain climate change and energy tax credit incentives. The adoption of a corporate minimum tax of 15% did not have a significant impact on Moody’s ETR. The excise tax of 1% on corporate share buybacks is recorded to shareholders' equity and does not have an impact on the Company’s ETR. Effective in 2024, multiple foreign jurisdictions in which the Company operates have enacted legislation to adopt a minimum tax rate described in the Global Anti-Base Erosion tax model rules (referred to as GloBE or Pillar II) issued by the OECD. A minimum ETR of 15% would apply to multinational companies with consolidated revenue above €750 million. Under the GloBE rules, a company would be required to determine a combined ETR for all entities located in a jurisdiction. If the jurisdictional tax rate is less than 15%, an additional tax generally will be due to bring the jurisdictional effective tax rate up to 15%. As of December 31, 2024, the Pillar II minimum tax did not have a material impact on the Company's full year results of operations or financial position.
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INDEBTEDNESS |
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| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INDEBTEDNESS | INDEBTEDNESS The Company’s debt is recorded at its carrying amount, which represents the issuance amount plus or minus any issuance premium or discount, except for certain debt as depicted in the table below, which is recorded at the carrying amount adjusted for the fair value of an interest rate swap used to hedge the fair value of the note. The following table summarizes total indebtedness:
(1)The fair value of interest rate swaps in the tables above represents the cumulative amount of fair value hedging adjustments included in the carrying amount of the hedged debt. Credit Facility On May 6, 2024, the Company entered into a five-year senior, unsecured revolving credit facility with the capacity to borrow up to $1.25 billion, which expires in May 2029. The 2024 Credit Facility replaces the Company's $1.25 billion 2021 Credit Facility that was scheduled to mature in December 2026. Further information on the key terms of these revolving credit facilities is below:
Interest on borrowings under the 2024 Credit Facility is payable at rates that are based on an adjusted term SOFR Rate plus a premium that can range from 80.5 BPS to 122.5 BPS, depending on the Company’s index debt ratings, as set forth in the 2024 Credit Facility. The Company also has the option to choose other rates, such as those based on adjusted Daily Simple SOFR or an alternate base rate, as set forth in the 2024 Credit Facility. Regardless of borrowing activity under the 2024 Credit Facility, the Company pays quarterly fees for the 2024 Credit Facility that can range from 7 BPS of the 2024 Credit Facility amount to 15 BPS, depending on the Company’s index debt ratings. The 2024 Credit Facility contains certain customary covenants and also contains a financial covenant that requires the Company to maintain a total debt to EBITDA Ratio of (i) not more than 4 to 1 at the end of any fiscal quarter or (ii) not more than 4.5 to 1 as of the end of the first three consecutive quarters immediately following any acquisition with consideration in excess of $500 million, subject to certain conditions as set forth in the 2024 Credit Facility. Commercial Paper On August 3, 2016, the Company entered into a private placement commercial paper program under which the Company may issue CP notes up to a maximum amount of $1.0 billion. Borrowings under the CP Program are backstopped by the 2024 Credit Facility. Amounts under the CP Program may be re-borrowed. The maturity of the CP Notes will vary, but may not exceed 397 days from the date of issue. The CP Notes are sold at a discount from par, or alternatively, sold at par and bear interest at rates that will vary based upon market conditions. The rates of interest will depend on whether the CP Notes will be a fixed or floating rate. The interest on a floating rate may be based on the following: (a) certificate of deposit rate; (b) commercial paper rate; (c) the federal funds rate; (d) the SOFR; (e) prime rate; (f) Treasury rate; or (g) such other base rate as may be specified in a supplement to the private placement agreement. The CP Program contains certain events of default including, among other things: non-payment of principal, interest or fees; entrance into any form of moratorium; and bankruptcy and insolvency events, subject in certain instances to cure periods. As of December 31, 2024, the Company has no CP borrowings outstanding. Notes Payable At December 31, 2024, the Company was in compliance with all covenants contained within all of the debt agreements. All of the debt agreements contain cross default provisions which state that default under one of the aforementioned debt instruments could in turn permit lenders under other debt instruments to declare borrowings outstanding under those instruments to be immediately due and payable. As of December 31, 2024, there were no such cross defaults. The repayment schedule for the Company’s borrowings is as follows:
Interest expense, net The following table summarizes the components of interest as presented in the consolidated statements of operations and the cash paid for interest:
(1) Expense on borrowings includes interest on long-term debt, as well as realized gains/losses related to interest rate swaps and cross currency swaps, which are more fully discussed in Note 6. (2) The amount for the year ended December 31, 2023 includes a $22 million reduction of tax-related interest expense primarily related to the resolutions of tax matters. (3) Interest paid includes net settlements on interest rate swaps more fully discussed in Note 6. The fair value and carrying value of the Company’s debt as of December 31, 2024 and 2023 are as follows:
The fair value of the Company’s debt is estimated based on quoted prices in active markets as of the reporting date, which are considered Level 1 inputs within the fair value hierarchy.
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CAPITAL STOCK |
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| Stockholders' Equity Note [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| CAPITAL STOCK | CAPITAL STOCK Authorized Capital Stock The total number of shares of all classes of stock that the Company has authority to issue under its Restated Certificate of Incorporation is 1.02 billion shares with a par value of $0.01, of which 1.0 billion are shares of common stock, 10.0 million are shares of preferred stock and 10.0 million are shares of series common stock. The preferred stock and series common stock can be issued with varying terms, as determined by the Board. Share Repurchase Program The Company first implemented a systematic share repurchase program in the third quarter of 2005 through an SEC Rule 10b5-1 program and has maintained its program since. Moody’s may also purchase opportunistically when conditions warrant. As a result, Moody’s share repurchase activity will continue to vary from quarter to quarter. The table below summarizes the Company’s remaining authority under its share repurchase program as of December 31, 2024:
During 2024, Moody’s repurchased 2.9 million shares of its common stock under its share repurchase program and issued a net 0.7 million shares under employee stock-based compensation plans. The net amount includes shares withheld for employee payroll taxes. Dividends The Company’s cash dividends were:
On February 12, 2025, the Board approved the declaration of a quarterly dividend of $0.94 per share of Moody’s common stock, payable on March 14, 2025 to shareholders of record at the close of business on February 25, 2025. The continued payment of dividends at the rate noted above, or at all, is subject to the discretion of the Board.
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LEASES |
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| Leases [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| LEASES | LEASES The Company has operating leases, substantially all of which relate to the lease of office space. The Company's leases which are classified as finance leases are not material to the consolidated financial statements. Certain of the Company's leases include options to renew, with renewal terms that can extend the lease term from one year to 20 years at the Company's discretion. The following table presents the components of the Company’s lease cost:
During 2023 and 2022, the Company recorded charges of $32 million and $23 million, respectively, related to the exit of certain real estate leases that resulted in ROU Asset impairment. The charges were recorded within restructuring expense in the consolidated statements of operations. Refer to Note 9 for further details. The following tables present other information related to the Company’s operating leases:
The following table presents a maturity analysis of the future minimum lease payments included within the Company’s operating lease liabilities at December 31, 2024:
As of December 31, 2024, the Company has entered into an additional operating lease that has not yet commenced, with a lease obligation of approximately $140 million related to the lease of office space. Accordingly, the ROU Assets and operating lease liabilities at December 31, 2024 do not reflect the amounts for this lease. This operating lease will commence in 2025 with a lease term of 15 years.
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CONTINGENCIES |
12 Months Ended |
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Dec. 31, 2024 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| CONTINGENCIES | CONTINGENCIES Given the nature of the Company's activities, Moody’s and its subsidiaries are subject to legal and tax proceedings, governmental, regulatory and legislative investigations, subpoenas and other inquiries, and claims and litigation by governmental and private parties that are based on ratings assigned by MIS or that are otherwise incidental to the Company’s business. Moody’s and MIS also are subject to periodic reviews, inspections, examinations and investigations by regulators in the U.S. and other jurisdictions, any of which may result in claims, legal proceedings, assessments, fines, penalties or restrictions on business activities. On September 3, 2024, MIS settled charges by the SEC for failure to comply with record preservation requirements applicable to MIS. The settlement followed an investigation relating to certain business communications sent over electronic messaging channels that had not been approved by MIS. The SEC has settled similar charges with other NRSROs and other registrants subject to record preservation requirements. The terms of MIS’s settlement included the payment of a $20 million civil monetary penalty. As previously disclosed, the Company had accrued that amount in its consolidated financial statements. Moody’s also is subject to ongoing tax audits as addressed in Note 15 to the consolidated financial statements. Management periodically assesses the Company’s liabilities and contingencies in connection with these matters based upon the latest information available. For claims, litigation and proceedings and governmental investigations and inquiries not related to income taxes, the Company records liabilities in the consolidated financial statements when it is both probable that a liability has been incurred and the amount of loss can be reasonably estimated and periodically adjusts these as appropriate. When the reasonable estimate of the loss is within a range of amounts, the minimum amount of the range is accrued unless some higher amount within the range is a better estimate than another amount within the range. In instances when a loss is reasonably possible but uncertainties exist related to the probable outcome and/or the amount or range of loss, management does not record a liability but discloses the contingency if material. As additional information becomes available, the Company adjusts its assessments and estimates of such matters accordingly. Moody’s also discloses material pending legal proceedings pursuant to SEC rules and other pending matters as it may determine to be appropriate. In view of the inherent difficulty of assessing the potential outcome of legal proceedings, governmental, regulatory and legislative investigations and inquiries, claims and litigation and similar matters and contingencies, particularly when the claimants seek large or indeterminate damages or assert novel legal theories or the matters involve a large number of parties, the Company often cannot predict what the eventual outcome of the pending matters will be or the timing of any resolution of such matters. The Company also may be unable to predict the impact (if any) that any such matters may have on how its business is conducted, on its competitive position or on its financial position, results of operations or cash flows. As the process to resolve any pending matters progresses, management will continue to review the latest information available and assess its ability to predict the outcome of such matters and the effects, if any, on its operations and financial condition and to accrue for and disclose such matters as and when required. However, because such matters are inherently unpredictable and unfavorable developments or resolutions can occur, the ultimate outcome of such matters, including the amount of any loss, may differ from those estimates.
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SEGMENT INFORMATION |
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SEGMENT INFORMATION | SEGMENT INFORMATION The Company is organized into two operating segments: MA and MIS and accordingly, the Company reports in two reportable segments: MA and MIS. The MA segment develops a wide range of products and services that support the risk management activities of institutional participants in global financial markets. The MA segment consists of three LOBs - DS, R&I, and D&I. The MIS segment consists of five LOBs. The CFG, FIG, PPIF and SFG LOBs generate revenue principally from fees for the assignment and ongoing monitoring of credit ratings on debt obligations and the entities that issue such obligations in markets worldwide. The MIS Other LOB primarily consists of financial instruments pricing services in the Asia-Pacific region, ICRA non-ratings revenue and revenue from providing professional services. Revenue for MA and expenses for MIS include an intersegment fee charged to MIS from MA for certain MA products and services utilized in MIS’s ratings process. Additionally, revenue for MIS and expenses for MA include intersegment fees charged to MA for the rights to use and distribute content, data and products developed by MIS. These intersegment fees are generally based on the market value of the products and services being transferred between the segments. Overhead expenses include costs such as rent and occupancy, information technology and support staff such as finance, human resources and legal. Such costs and corporate expenses that exclusively benefit one segment are fully charged to that segment. For overhead costs and corporate expenses that benefit both segments, costs are generally allocated to each segment based on historical revenue amounts. “Eliminations” in the following table represent intersegment revenue/expense. Moody’s does not report the Company’s assets by reportable segment, as this metric is not used by the chief operating decision maker to allocate resources to the segments. Financial Information by Segment The table below presents revenue, significant expenses regularly provided to the CODM and Adjusted Operating Income by reportable segment. The CODM, identified as the Company's CEO, utilizes the Adjusted Operating Income measure to assess the profitability of the Company and each of its reportable segments each quarter. Adjusted Operating Income is also used in our budgeting and forecasting processes, enabling the allocation of capital resources across the Company's strategic initiatives.
The table below shows cumulative restructuring expense incurred through December 31, 2024 by reportable segment.
The costs expected to be incurred related to the Strategic and Operational Efficiency Restructuring Program are $125 million to $155 million for the MA segment and $75 million to $95 million for the MIS segment, which include allocations of charges associated with corporate functions. The restructuring programs are more fully discussed in Note 9. CONSOLIDATED REVENUE AND LONG-LIVED ASSETS INFORMATION BY GEOGRAPHIC AREA
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VALUATION AND QUALIFYING ACCOUNTS |
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| SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| VALUATION AND QUALIFYING ACCOUNTS | VALUATION AND QUALIFYING ACCOUNTS Accounts receivable allowances represent estimates for uncollectible accounts. The valuation allowance on deferred tax assets relates to foreign net operating tax losses for which realization is uncertain. Below is a summary of activity:
(1)Reflects write-off of uncollectible accounts receivable or expiration of foreign net operating tax losses.
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OTHER NON-OPERATING (EXPENSE) INCOME, NET |
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| OTHER NON-OPERATING (EXPENSE) INCOME, NET | OTHER STATEMENTS OF OPERATIONS INFORMATION Other non-operating income, net The following table summarizes the components of other non-operating income, net as presented in the consolidated statements of operations:
(1) The amount for the year ended December 31, 2023 includes a $23 million loss recorded pursuant to an immaterial out-of-period adjustment relating to the 2022 fiscal year. The amount for the year ended December 31, 2022 includes FX translation losses of $20 million reclassified to earnings resulting from the Company no longer conducting commercial operations in Russia. (2) The amount for the year ended December 31, 2024 reflects non-cash gains relating to the step-acquisitions of Praedicat and GCR. Charges related to asset abandonment: During the year ended December 31, 2024, the Company recorded charges related to asset abandonment of $43 million pursuant to the Company's decision to outsource the production of certain sustainability content utilized in our product offerings. These charges consist of: i) $12 million related to severance incurred pursuant to a reduction in staff; and ii) $31 million in incremental amortization expense related to the change in estimated useful lives of certain internally developed software and amortizable intangible assets that are associated with the sustainability content offerings for which production is being outsourced.
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Pay vs Performance Disclosure - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
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| Pay vs Performance Disclosure | |||
| Net Income (Loss) Attributable to Parent | $ 2,058 | $ 1,607 | $ 1,374 |
Insider Trading Arrangements |
3 Months Ended |
|---|---|
Dec. 31, 2024 | |
| 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 |
Insider Trading Policies and Procedures |
12 Months Ended |
|---|---|
Dec. 31, 2024 | |
| Insider Trading Policies and Procedures [Line Items] | |
| Insider Trading Policies and Procedures Adopted | true |
Cybersecurity Risk Management and Strategy Disclosure |
12 Months Ended |
|---|---|
Dec. 31, 2024 | |
| Cybersecurity Risk Management, Strategy, and Governance [Line Items] | |
| Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block] | CYBERSECURITY AND RISK MANAGEMENT Governance Management The Company maintains a dedicated internal cybersecurity team that interacts with executive management and its business units to identify, assess, manage, and respond to cybersecurity risks and incidents relating to the Company’s information systems and operations. In addition, this internal cybersecurity team is responsible for managing detection, mitigation and remediation of cybersecurity incidents. The internal cybersecurity team is managed by the CISO, who reports to the CAO, who is a member of the executive leadership team. At December 31, 2024, the Company’s internal cybersecurity team consisted of members located in various countries and time zones across the world. The team has members with experience in governance, risk management and compliance, threat monitoring, threat emulation, penetration testing and cyber incident management. Team members have both individual responsibilities and a team focus, covering areas such as network, endpoint device, and e-mail security engineering as well as operations and threat management, monitoring, and response. The Cyber Committee, chaired by the CISO, and whose members include the CTSO, CAO and Chief Risk & Resiliency Officer, as well as other members of senior management and the legal team, is responsible for identifying cybersecurity risks and threats, recommending mitigating actions to strengthen cybersecurity resilience, and meeting risk tolerance thresholds established by senior management. The Cyber Committee also validates that the Company has appropriate people, process and technology capabilities to identify, mitigate and report on cybersecurity risks to the executive leadership team and the Board of Directors. The Cyber Committee meets regularly to allow members of the internal cybersecurity team to present concerns and recommendations for decisions on preventing, identifying, mitigating, and remediating risks and threats. To the extent warranted, the Cyber Committee may additionally be convened on an ad hoc basis. The Cyber Committee makes decisions regarding the reporting of cybersecurity concerns to the executive leadership team, who escalate issues to the Board and/or the Audit Committee as necessary. In the case of incidents that arise, the Cyber Committee, under the direction of the Board and/or executive leadership team when appropriate, works to involve all appropriate personnel with the aim of resolving the incident, performing any required remediation/reporting, and taking appropriate steps to comply with applicable laws and regulations. The process that the Cyber Committee follows upon emergence of incidents is documented in the Company’s Incident Response Plan. Additionally, cybersecurity risks and the adequacy of associated mitigations are analyzed by senior leadership as part of the enterprise risk assessments that are reported to and discussed by the Board. The CISO has extensive cybersecurity knowledge and skills, gained from over 20 years’ experience working in regulated industries. The CISO holds a number of cybersecurity related certifications, including the Certified Information Systems Security Professional and Certified Information Security Manager. In addition to the CISO, the CTSO has been a close partner and advocate for cybersecurity at the Company, and is consulted or informed on all decisions or risks that affect the Company's technology systems and/or implicate cybersecurity. The CAO is responsible for overseeing the cybersecurity team at the executive leadership level. Board of Directors and Audit Committee The Board provides oversight of management’s efforts to assess and manage cybersecurity risks and respond to cybersecurity incidents and threats. In addition, the Audit Committee of the Board of Directors regularly receives reports from management regarding the Company’s financial and compliance risks, including, but not limited to, risks relating to internal controls and cybersecurity risks. The Board receives regular updates from the CISO, CTSO, and CAO regarding matters related to technology and cybersecurity. The Company has protocols, as discussed below, by which certain cybersecurity concerns, incidents and threats are escalated within the Company and, where appropriate, reported in a timely manner to the Board. Risk Management and Strategy The objective of the Company's comprehensive cybersecurity program is to assess, identify, and manage risks from cybersecurity incidents and threats. The Company's cybersecurity program leverages the NIST Framework and it incorporates training and awareness coupled with ongoing monitoring and assessment. The cybersecurity program is an important part of the Company’s enterprise risk management (ERM), with the head of the Company’s ERM program (the Chief Risk & Resiliency Officer) sitting on the Cyber Committee, and sets forth a process for escalating certain incidents to the Company’s ERM group integrated into the Company’s Incident Response Plan. As part of the cybersecurity program, the Company’s cybersecurity environment is monitored by automated tools on an ongoing basis and an internal cybersecurity team that reviews threats, alerts, and incidents. The Company’s Incident Response Plan provides governance and guidance in responding to information security incidents and is tested regularly for calibration against existing and emerging threats. The Incident Response Plan describes the process to be followed by the Cyber Committee in connection with the oversight of the cybersecurity environment and specific events that occur from time to time. The cybersecurity program undergoes periodic internal and external reviews. In addition, the Company's Internal Controls Department performs an independent assessment of the design and operating effectiveness of the Company’s network of cybersecurity controls in accordance with the NIST Framework. The results of the assessment are periodically shared with the Cyber Committee. The Company’s cybersecurity environment is also subject to routine vulnerability assessment processes. Internal and external teams, including the Cyber Committee, conduct activities such as penetration testing, red teaming, tabletop exercises and phishing drills. Results are measured and assessed for possible improvements. In addition to these ongoing efforts, the Company has a set of third-party risk management tools through which it monitors for cybersecurity risks and threats associated with its third-party service providers. The Incident Response Plan includes processes that define how the Company manages and responds to such risks or threats associated with its third-party service providers. The Company contracts with reputable third parties to conduct annual external assessments of its cybersecurity program and its components. Government agencies and their contracted agents also conduct periodic reviews in certain jurisdictions where the Company operates. Insurance agents, customers and other market participants routinely assess the Company’s security posture relative to their own standards. Security Policy and Requirements The Company has an Information Security Policy and Information Security Standards, which, taken together, describe the standards and minimum requirements that are expected of all business and information security personnel to protect the Company’s information and technology assets. The policy provides a framework guided by security principles designed to address the confidentiality, integrity and availability of the Company’s information assets in the context of internal, external, deliberate and accidental threats, while supporting the Company’s information creation and sharing needs. The Company is subject to various privacy laws in the jurisdictions where it operates including CCPA and GDPR, as well as U.S. Federal regulation by the FTC, for certain privacy-related aspects of its business, and the Sarbanes-Oxley Act of 2002. The Company is audited in connection with requirements set forth in the Sarbanes-Oxley Act of 2002, and Moody’s Analytics obtains third-party audits in connection with the ISO 27001 certification and SOC 1 and SOC 2 attestation reports, respectively, for certain products. As previously mentioned, the Company also aligns with NIST standards in connection with information security, which it uses to evaluate its cybersecurity readiness and resilience, and is required to make various filings and comply with requirements in certain jurisdictions in which it operates. The Company’s cybersecurity program also includes an information security training and awareness program called InfoSafe for all employees. The program includes annual certification to having read and understood the Company's IT Use Policy, continuing education on phishing awareness, regular communications about cybersecurity best practices, and participation in annual events like Cybersecurity Awareness Month. Employees are expected to complete annual cybersecurity training, and compliance is monitored. The Company uses general and targeted phishing simulations to help employees better recognize and respond to potential threats. The training program is further enhanced by cybersecurity experts speaking at educational events. The Company also offers specialized training modules on emerging cybersecurity threats for its software development teams. The Company’s IT Use Policy outlines a detailed escalation process under which employees are to immediately report any suspected cybersecurity incident. The cybersecurity threat landscape is dynamic and volatile, and requires significant investment on the part of the Company in terms of talent recruitment and retention, as well as procuring and deploying the correct tools to address threats. Additional information on cybersecurity risks is discussed in Item 1A of Part I, “Risk Factors,” under the heading “Technology Risks,” which should be read in conjunction with the foregoing information.
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| Cybersecurity Risk Management Processes Integrated [Flag] | true |
| Cybersecurity Risk Management Processes Integrated [Text Block] | The objective of the Company's comprehensive cybersecurity program is to assess, identify, and manage risks from cybersecurity incidents and threats. The Company's cybersecurity program leverages the NIST Framework and it incorporates training and awareness coupled with ongoing monitoring and assessment. The cybersecurity program is an important part of the Company’s enterprise risk management (ERM), with the head of the Company’s ERM program (the Chief Risk & Resiliency Officer) sitting on the Cyber Committee, and sets forth a process for escalating certain incidents to the Company’s ERM group integrated into the Company’s Incident Response Plan. As part of the cybersecurity program, the Company’s cybersecurity environment is monitored by automated tools on an ongoing basis and an internal cybersecurity team that reviews threats, alerts, and incidents. The Company’s Incident Response Plan provides governance and guidance in responding to information security incidents and is tested regularly for calibration against existing and emerging threats. The Incident Response Plan describes the process to be followed by the Cyber Committee in connection with the oversight of the cybersecurity environment and specific events that occur from time to time. The cybersecurity program undergoes periodic internal and external reviews. In addition, the Company's Internal Controls Department performs an independent assessment of the design and operating effectiveness of the Company’s network of cybersecurity controls in accordance with the NIST Framework. The results of the assessment are periodically shared with the Cyber Committee. The Company’s cybersecurity environment is also subject to routine vulnerability assessment processes. Internal and external teams, including the Cyber Committee, conduct activities such as penetration testing, red teaming, tabletop exercises and phishing drills. Results are measured and assessed for possible improvements. In addition to these ongoing efforts, the Company has a set of third-party risk management tools through which it monitors for cybersecurity risks and threats associated with its third-party service providers. The Incident Response Plan includes processes that define how the Company manages and responds to such risks or threats associated with its third-party service providers. The Company contracts with reputable third parties to conduct annual external assessments of its cybersecurity program and its components. Government agencies and their contracted agents also conduct periodic reviews in certain jurisdictions where the Company operates. Insurance agents, customers and other market participants routinely assess the Company’s security posture relative to their own standards.
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| Cybersecurity Risk Management Third Party Engaged [Flag] | true |
| Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] | true |
| Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] | false |
| Cybersecurity Risk Board of Directors Oversight [Text Block] | The Cyber Committee, chaired by the CISO, and whose members include the CTSO, CAO and Chief Risk & Resiliency Officer, as well as other members of senior management and the legal team, is responsible for identifying cybersecurity risks and threats, recommending mitigating actions to strengthen cybersecurity resilience, and meeting risk tolerance thresholds established by senior management. The Cyber Committee also validates that the Company has appropriate people, process and technology capabilities to identify, mitigate and report on cybersecurity risks to the executive leadership team and the Board of Directors. The Cyber Committee meets regularly to allow members of the internal cybersecurity team to present concerns and recommendations for decisions on preventing, identifying, mitigating, and remediating risks and threats. To the extent warranted, the Cyber Committee may additionally be convened on an ad hoc basis. The Cyber Committee makes decisions regarding the reporting of cybersecurity concerns to the executive leadership team, who escalate issues to the Board and/or the Audit Committee as necessary. In the case of incidents that arise, the Cyber Committee, under the direction of the Board and/or executive leadership team when appropriate, works to involve all appropriate personnel with the aim of resolving the incident, performing any required remediation/reporting, and taking appropriate steps to comply with applicable laws and regulations. The process that the Cyber Committee follows upon emergence of incidents is documented in the Company’s Incident Response Plan. Additionally, cybersecurity risks and the adequacy of associated mitigations are analyzed by senior leadership as part of the enterprise risk assessments that are reported to and discussed by the Board. The CISO has extensive cybersecurity knowledge and skills, gained from over 20 years’ experience working in regulated industries. The CISO holds a number of cybersecurity related certifications, including the Certified Information Systems Security Professional and Certified Information Security Manager. In addition to the CISO, the CTSO has been a close partner and advocate for cybersecurity at the Company, and is consulted or informed on all decisions or risks that affect the Company's technology systems and/or implicate cybersecurity. The CAO is responsible for overseeing the cybersecurity team at the executive leadership level. Board of Directors and Audit Committee The Board provides oversight of management’s efforts to assess and manage cybersecurity risks and respond to cybersecurity incidents and threats. In addition, the Audit Committee of the Board of Directors regularly receives reports from management regarding the Company’s financial and compliance risks, including, but not limited to, risks relating to internal controls and cybersecurity risks. The Board receives regular updates from the CISO, CTSO, and CAO regarding matters related to technology and cybersecurity. The Company has protocols, as discussed below, by which certain cybersecurity concerns, incidents and threats are escalated within the Company and, where appropriate, reported in a timely manner to the Board.
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| Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] | The Cyber Committee, chaired by the CISO, and whose members include the CTSO, CAO and Chief Risk & Resiliency Officer, as well as other members of senior management and the legal team, is responsible for identifying cybersecurity risks and threats, recommending mitigating actions to strengthen cybersecurity resilience, and meeting risk tolerance thresholds established by senior management. The Cyber Committee also validates that the Company has appropriate people, process and technology capabilities to identify, mitigate and report on cybersecurity risks to the executive leadership team and the Board of Directors. The Cyber Committee meets regularly to allow members of the internal cybersecurity team to present concerns and recommendations for decisions on preventing, identifying, mitigating, and remediating risks and threats. To the extent warranted, the Cyber Committee may additionally be convened on an ad hoc basis. The Cyber Committee makes decisions regarding the reporting of cybersecurity concerns to the executive leadership team, who escalate issues to the Board and/or the Audit Committee as necessary. In the case of incidents that arise, the Cyber Committee, under the direction of the Board and/or executive leadership team when appropriate, works to involve all appropriate personnel with the aim of resolving the incident, performing any required remediation/reporting, and taking appropriate steps to comply with applicable laws and regulations. The process that the Cyber Committee follows upon emergence of incidents is documented in the Company’s Incident Response Plan. Additionally, cybersecurity risks and the adequacy of associated mitigations are analyzed by senior leadership as part of the enterprise risk assessments that are reported to and discussed by the Board.
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| Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] | The Cyber Committee, chaired by the CISO, and whose members include the CTSO, CAO and Chief Risk & Resiliency Officer, as well as other members of senior management and the legal team, is responsible for identifying cybersecurity risks and threats, recommending mitigating actions to strengthen cybersecurity resilience, and meeting risk tolerance thresholds established by senior management. The Cyber Committee also validates that the Company has appropriate people, process and technology capabilities to identify, mitigate and report on cybersecurity risks to the executive leadership team and the Board of Directors. The Cyber Committee meets regularly to allow members of the internal cybersecurity team to present concerns and recommendations for decisions on preventing, identifying, mitigating, and remediating risks and threats. To the extent warranted, the Cyber Committee may additionally be convened on an ad hoc basis. The Cyber Committee makes decisions regarding the reporting of cybersecurity concerns to the executive leadership team, who escalate issues to the Board and/or the Audit Committee as necessary. In the case of incidents that arise, the Cyber Committee, under the direction of the Board and/or executive leadership team when appropriate, works to involve all appropriate personnel with the aim of resolving the incident, performing any required remediation/reporting, and taking appropriate steps to comply with applicable laws and regulations. The process that the Cyber Committee follows upon emergence of incidents is documented in the Company’s Incident Response Plan. Additionally, cybersecurity risks and the adequacy of associated mitigations are analyzed by senior leadership as part of the enterprise risk assessments that are reported to and discussed by the Board.
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| Cybersecurity Risk Role of Management [Text Block] | Management The Company maintains a dedicated internal cybersecurity team that interacts with executive management and its business units to identify, assess, manage, and respond to cybersecurity risks and incidents relating to the Company’s information systems and operations. In addition, this internal cybersecurity team is responsible for managing detection, mitigation and remediation of cybersecurity incidents. The internal cybersecurity team is managed by the CISO, who reports to the CAO, who is a member of the executive leadership team. At December 31, 2024, the Company’s internal cybersecurity team consisted of members located in various countries and time zones across the world. The team has members with experience in governance, risk management and compliance, threat monitoring, threat emulation, penetration testing and cyber incident management. Team members have both individual responsibilities and a team focus, covering areas such as network, endpoint device, and e-mail security engineering as well as operations and threat management, monitoring, and response. The Cyber Committee, chaired by the CISO, and whose members include the CTSO, CAO and Chief Risk & Resiliency Officer, as well as other members of senior management and the legal team, is responsible for identifying cybersecurity risks and threats, recommending mitigating actions to strengthen cybersecurity resilience, and meeting risk tolerance thresholds established by senior management. The Cyber Committee also validates that the Company has appropriate people, process and technology capabilities to identify, mitigate and report on cybersecurity risks to the executive leadership team and the Board of Directors. The Cyber Committee meets regularly to allow members of the internal cybersecurity team to present concerns and recommendations for decisions on preventing, identifying, mitigating, and remediating risks and threats. To the extent warranted, the Cyber Committee may additionally be convened on an ad hoc basis. The Cyber Committee makes decisions regarding the reporting of cybersecurity concerns to the executive leadership team, who escalate issues to the Board and/or the Audit Committee as necessary. In the case of incidents that arise, the Cyber Committee, under the direction of the Board and/or executive leadership team when appropriate, works to involve all appropriate personnel with the aim of resolving the incident, performing any required remediation/reporting, and taking appropriate steps to comply with applicable laws and regulations. The process that the Cyber Committee follows upon emergence of incidents is documented in the Company’s Incident Response Plan. Additionally, cybersecurity risks and the adequacy of associated mitigations are analyzed by senior leadership as part of the enterprise risk assessments that are reported to and discussed by the Board. The CISO has extensive cybersecurity knowledge and skills, gained from over 20 years’ experience working in regulated industries. The CISO holds a number of cybersecurity related certifications, including the Certified Information Systems Security Professional and Certified Information Security Manager. In addition to the CISO, the CTSO has been a close partner and advocate for cybersecurity at the Company, and is consulted or informed on all decisions or risks that affect the Company's technology systems and/or implicate cybersecurity. The CAO is responsible for overseeing the cybersecurity team at the executive leadership level. Board of Directors and Audit Committee The Board provides oversight of management’s efforts to assess and manage cybersecurity risks and respond to cybersecurity incidents and threats. In addition, the Audit Committee of the Board of Directors regularly receives reports from management regarding the Company’s financial and compliance risks, including, but not limited to, risks relating to internal controls and cybersecurity risks. The Board receives regular updates from the CISO, CTSO, and CAO regarding matters related to technology and cybersecurity. The Company has protocols, as discussed below, by which certain cybersecurity concerns, incidents and threats are escalated within the Company and, where appropriate, reported in a timely manner to the Board.
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| Cybersecurity Risk Management Positions or Committees Responsible [Flag] | true |
| Cybersecurity Risk Management Positions or Committees Responsible [Text Block] | The Board receives regular updates from the CISO, CTSO, and CAO regarding matters related to technology and cybersecurity. The Company has protocols, as discussed below, by which certain cybersecurity concerns, incidents and threats are escalated within the Company and, where appropriate, reported in a timely manner to the Board.
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| Cybersecurity Risk Management Expertise of Management Responsible [Text Block] | The CISO has extensive cybersecurity knowledge and skills, gained from over 20 years’ experience working in regulated industries. The CISO holds a number of cybersecurity related certifications, including the Certified Information Systems Security Professional and Certified Information Security Manager. In addition to the CISO, the CTSO has been a close partner and advocate for cybersecurity at the Company, and is consulted or informed on all decisions or risks that affect the Company's technology systems and/or implicate cybersecurity |
| Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] | The Board receives regular updates from the CISO, CTSO, and CAO regarding matters related to technology and cybersecurity. The Company has protocols, as discussed below, by which certain cybersecurity concerns, incidents and threats are escalated within the Company and, where appropriate, reported in a timely manner to the Board.
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| Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] | true |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) |
12 Months Ended |
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Dec. 31, 2024 | |
| Accounting Policies [Abstract] | |
| Adoption of New Accounting Standards in 2023 | Adoption of New Accounting Standards in 2024 In November 2023, the FASB issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures" ("ASU No. 2023-07"), which expands segment disclosure requirements for public entities. ASU No. 2023-07 requires entities to disclose significant segment expenses by reportable segment if they are regularly provided to the CODM and included in each reported measure of segment profit or loss. In addition, this ASU permits entities to disclose more than one measure of segment profit or loss used by the CODM. Additionally, disclosure of the CODM’s title and position will be required on an annual basis, as well as an explanation of how the CODM uses the reported measure(s). Furthermore, all existing annual disclosures about segment profit or loss and assets must be provided on an interim basis in addition to disclosure of significant segment expenses and other segment items. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and requires retrospective application to all prior periods presented in the financial statements. The Company adopted this ASU retrospectively for all periods presented with the new required disclosures presented in Note 20. Reclassification of Previously Reported Revenue by LOB In the first quarter of 2024, pursuant to the integration of RMS into the Company's order-to-cash systems, the Company reclassified certain prior year revenue by geography disclosures. The impact of the reclassification was not material, and prior year revenue by LOB disclosures have been reclassified to conform to this new presentation, which is disclosed in Note 3. Recently Issued Accounting Pronouncements In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures" ("ASU No. 2023-09"), which is intended to enhance the transparency and decision usefulness of income tax disclosures. The amendments in ASU No. 2023-09 require entities to disclose additional income tax information, primarily related to greater disaggregation of the entity's ETR reconciliation and income taxes paid by jurisdiction disclosures. This ASU is effective for annual periods beginning after December 15, 2024, and should be applied on a prospective basis; however, retrospective application is permitted. The Company is currently evaluating the impact of adopting this ASU on its consolidated financial statements and disclosures. In November 2024, the FASB issued ASU 2024-03, "Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses" ("ASU No. 2024-03"). The amendments in this ASU require more detailed disclosures about specific expense categories in the notes to financial statements (including employee compensation, depreciation and intangible asset amortization) and apply to both interim and annual reporting periods. ASU No. 2024-03 also requires disclosure of total selling expenses for both interim and annual reporting periods, with an additional requirement to provide an entity’s definition of selling expenses in annual reporting. This ASU is effective in fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The amendments in this ASU should be applied either (1) prospectively for annual and interim reporting periods beginning after the aforementioned effective dates or (2) retrospectively to any or all prior periods presented in the financial statements. The Company is currently evaluating the impact of adopting this ASU on its consolidated financial statements and disclosures.
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| Basis of Consolidation | Basis of Consolidation The consolidated financial statements include those of Moody’s Corporation and its majority- and wholly-owned subsidiaries. The effects of all intercompany transactions have been eliminated. Investments in companies for which the Company has significant influence over operating and financial policies but not a controlling interest are accounted for on an equity basis whereby the Company records its proportional share of the investment’s net income or loss as part of other non-operating income (expense), net and any dividends received reduce the carrying amount of the investment. Equity investments without a readily determinable fair value for which the Company does not have significant influence are accounted for under the ASC Topic 321 measurement alternative; these investments are recorded at initial cost, less impairment, adjusted upward or downward for any observable price changes in similar investments. The Company applies the guidelines set forth in ASC Topic 810 assessing its interests in voting and variable interest entities to decide whether to consolidate an entity. The Company has reviewed the potential variable interest entities and determined that there are no consolidation requirements under ASC Topic 810. The Company consolidates its ICRA subsidiaries on a three month lag.
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| Cash and Cash Equivalents | Cash and Cash Equivalents Cash equivalents principally consist of investments in money market deposit accounts and money market funds as well as certificates of deposit with maturities of three months or less when purchased.
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| Short-term Investments | Short-term Investments Short-term investments are securities with maturities greater than 90 days at the time of purchase that are available for operations in the next 12 months. The Company’s short-term investments primarily consist of certificates of deposit and their cost approximates fair value due to the short-term nature of the instruments. Interest and dividends on these investments are recorded into income when earned.
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| Property and Equipment | Property and Equipment Property and equipment are stated at cost and are depreciated using the straight-line method over their estimated useful lives. Expenditures for maintenance and repairs that do not extend the economic useful life of the related assets are charged to expense as incurred.
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| Computer Software Developed or Obtained for Internal Use | Computer Software Developed or Obtained for Internal Use The Company capitalizes costs related to software developed or obtained for internal use. These assets, included in property and equipment in the consolidated balance sheets, relate to MA's SaaS-based solutions as well as the Company’s financial, website and other systems. Such costs generally consist of employee compensation, direct costs for third-party license fees and professional services provided by third parties, in each case incurred either during the application development stage or in connection with upgrades and enhancements that increase functionality. Such costs are depreciated over their estimated useful lives on a straight-line basis. Costs incurred during the preliminary project stage of development as well as maintenance costs are expensed as incurred. The Company also capitalizes implementation costs incurred in cloud computing arrangements (e.g., hosted arrangements) and depreciates the costs over the non-cancellable term of the cloud computing arrangements plus any option renewal periods that are reasonably certain to be exercised or for which the exercise is controlled by the service provider. The Company classifies the amortization of capitalized implementation costs in the same line item in the consolidated statement of operations as the fees associated with the hosting service (i.e., operating and SG&A expense) and classifies the related payments in the consolidated statement of cash flows in the same manner as payments made for fees associated with the hosting service (i.e. cash flows from operating activities). In addition, the capitalization of implementation costs is reflected in the consolidated balance sheets consistent with the location of prepayment of fees for the hosting element (i.e., within other current assets or other assets).
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| Goodwill and Other Acquired Intangible Assets | Goodwill and Other Acquired Intangible Assets Moody’s evaluates its goodwill for impairment at the reporting unit level, defined as an operating segment (i.e., MA and MIS), or one level below an operating segment (i.e., a component of an operating segment), annually as of July 31 or more frequently if impairment indicators arise in accordance with ASC Topic 350. The Company evaluates the recoverability of goodwill using a two-step impairment test approach at the reporting unit level. In the first step, the Company assesses various qualitative factors to determine whether the fair value of a reporting unit may be less than its carrying amount. If a determination is made based on the qualitative factors that an impairment does not exist, the Company is not required to perform further testing. If the aforementioned qualitative assessment results in the Company concluding that it is more likely than not that the fair value of a reporting unit may be less than its carrying amount, the fair value of the reporting unit will be quantitatively determined and compared to its carrying value including goodwill. If the fair value of the reporting unit exceeds the carrying value of the net assets assigned to that unit, goodwill is not impaired and the Company is not required to perform further testing. If the fair value of the reporting unit is less than the carrying value, the Company will record a goodwill impairment charge for the amount by which the carrying value exceeds the reporting unit’s fair value. The Company evaluates its reporting units on an annual basis, or more frequently if there are changes in the reporting structure of the Company due to acquisitions, realignments or if there are indicators of potential impairment. For the reporting units where the Company is consistently able to conclude that no impairment exists using only a qualitative approach, the Company’s accounting policy is to perform the second step of the aforementioned goodwill impairment assessment at least once every three years. For purposes of assessing the recoverability of goodwill, the Company has four reporting units: two reporting units within MA consisting of businesses that offer: i) data and data-driven analytical solutions; and ii) risk-management software, workflow and CRE solutions and two within the Company’s ratings business (one for the ICRA business and one that encompasses all of Moody’s other ratings operations).
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| Impairment of long-lived assets and definite-lived intangible assets | Impairment of long-lived assets and definite-lived intangible assets Long-lived assets (including ROU Assets) and amortizable intangible assets are reviewed for recoverability whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Under the first step of the recoverability assessment, the Company compares the estimated undiscounted future cash flows attributable to the asset or asset group to their carrying value. If the undiscounted future cash flows are greater than the carrying value, no further assessment is required. If the undiscounted future cash flows are less than the carrying value, Moody's proceeds with step two of the assessment. Under step two of this assessment, Moody's is required to determine the fair value of the asset or asset group (reduced by the estimated cost to sell the asset for assets or disposal groups classified as held-for-sale) and recognize an impairment loss if the carrying amount exceeds its fair value.
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| Stock-Based Compensation | Stock-Based Compensation The Company records compensation expense over the requisite service period for all share-based payment award transactions granted to employees based on the fair value of the equity instrument at the time of grant. This includes shares issued under stock option and restricted stock plans.
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| Derivative Instruments and Hedging Activities | Derivative Instruments and Hedging Activities Based on the Company’s risk management policy, the Company may use derivative financial instruments to reduce exposure to changes in foreign exchange rates and interest rates. The Company does not enter into derivative financial instruments for speculative purposes. All derivative financial instruments are recorded on the consolidated balance sheets at their respective fair values on a gross basis. The changes in the value of derivatives that qualify as fair value hedges are recorded in the same income statement line item in earnings in which the corresponding adjustment to the carrying value of the hedged item is presented. The entire change in the fair value of derivatives that qualify as cash flow hedges is recorded to OCI and such amounts are reclassified from AOCI(L) to the same income statement line in earnings in the same period or periods during which the hedged transaction affects income. The Company assesses effectiveness for net investment hedges using the spot-method. The entire change in the fair value of derivatives that qualify as net investment hedges is initially recorded to OCI. Those changes in fair value attributable to components included in the assessment of hedge effectiveness in a net investment hedge are recorded in the currency translation adjustment component of OCI and remain in AOCI(L) until the period in which the hedged item affects earnings. Those changes in fair value attributable to components excluded from the assessment of hedge effectiveness in a net investment hedge are recorded to OCI and amortized to earnings using a systematic and rational method over the duration of the hedge. Any changes in the fair value of derivatives that the Company does not designate as hedging instruments under ASC Topic 815 are recorded in the consolidated statements of operations in the period in which they occur. Cash flows from derivatives are recognized in the consolidated statements of cash flows in a manner consistent with the recognition of the underlying hedged item.
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| Revenue Recognition and Costs to Obtain or Fulfill a Contract with a Customer | Revenue Recognition and Costs to Obtain or Fulfill a Contract with a Customer Revenue recognition: Revenue is recognized when control of promised goods or services is transferred to the customer, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. When contracts with customers contain multiple performance obligations, the Company accounts for individual performance obligations separately if they are distinct. The transaction price is allocated to each distinct performance obligation on a relative SSP basis. The Company determines the SSP by using the price charged for a deliverable when sold separately or uses management’s best estimate of SSP for goods or services not sold separately using estimation techniques that maximize observable data points, including: internal factors relevant to its pricing practices such as costs and margin objectives; standalone sales prices of similar products; pricing policies; percentage of the fee charged for a primary product or service relative to a related product or service; and geography. Sales, usage-based, value added and other taxes are excluded from revenues. MA Revenue In the MA segment, products and services offered by the Company include hosted research and data subscriptions, installed and hosted software subscriptions, perpetual installed software licenses and related maintenance, or PCS, and professional services. Subscription and PCS contracts are generally invoiced in advance of the contractual coverage period, which is principally one year, but can range from 3-5 years. Professional services are invoiced as those services are provided. Payment terms and conditions vary by contract type, but primarily include a requirement of payment within 30 to 60 days. Revenue from research, data and other hosted subscriptions is recognized ratably over the related subscription period as MA's performance obligation to provide access to these products is progressively fulfilled over the stated term of the contract. A large portion of these services are invoiced in the months of November, December and January. Revenue from installed software subscriptions, which includes PCS, is bifurcated into a software license performance obligation and a PCS performance obligation, which follow the patterns of recognition described above, except for those installed subscriptions where the software license and PCS performance obligations were determined to be incapable of being distinct from each other in accordance with ASC 606-10-25-19 and ASC 606-10-25-20. In such instances, revenue is recognized over time. Revenue from the sale of a software license, when considered distinct from the related software implementation services, is generally recognized at the time the product master or first copy is delivered or transferred to the customer. PCS is generally recognized ratably over the contractual period commencing when the software license is fully delivered. For implementation services and other service projects for which fees are fixed, the Company determined progress towards completion is most accurately measured on a percentage-of-completion basis (input method) as this approach utilizes the most directly observable data points and is therefore used to recognize the related revenue. For implementation services where price varies based on time expended, a time-based measure of progress towards completion of the performance obligation is utilized. Revenue from professional services rendered is generally recognized over time as the services are performed. Products and services offered within the MA segment are sold either stand-alone or together in various combinations. In instances where an arrangement contains multiple performance obligations, the Company accounts for the individual performance obligations separately if they are considered distinct. Revenue is generally allocated to all performance obligations based upon the relative SSP at contract inception. For certain performance obligations, judgment is required to determine the SSP. Revenue is recognized for each performance obligation based upon the conditions for revenue recognition noted above. In the MA segment, customers usually pay a fixed fee for the products and services based on signed contracts. However, accounting for variable consideration is applied mainly for: i) estimates for cancellation rights and price concessions and ii) T&M based services. The Company estimates the variable consideration associated with cancellation rights and price concessions based on the expected amount to be provided to customers and reduces the amount of revenue to be recognized. MIS Revenue In the MIS segment, revenue arrangements with multiple elements are generally comprised of two distinct performance obligations, a rating and the related monitoring service. Revenue attributed to ratings of issued securities is generally recognized when the rating is delivered to the issuer. Revenue attributed to monitoring of issuers or issued securities is recognized ratably over the period in which the monitoring is performed, generally one year. In the case of certain structured finance products, primarily CMBS, issuers can elect to pay all of the annual monitoring fees upfront. These fees are deferred and recognized over the future monitoring periods based on the expected lives of the rated securities. MIS arrangements generally have standard contractual terms for which the stated payments are due at conclusion of the ratings process for ratings and either upfront or in arrears for monitoring services; and are signed by customers either on a per issue basis or at the beginning of the relationship with the customer. In situations when customer fees for an arrangement may be variable, the Company estimates the variable consideration at inception using the expected value method based on analysis of similar contracts in the same line of business, which is constrained based on the Company’s assessment of the realization of the adjustment amount. The Company allocates the transaction price within arrangements that include multiple performance obligations based upon the relative SSP of each service. The SSP for both rating and monitoring services is generally based upon observable selling prices where the rating or monitoring service is sold separately to similar customers. Costs to Obtain or Fulfill a Contract with a Customer: Costs to obtain a contract with a customer Costs incurred to obtain customer contracts, such as sales commissions, are deferred and recorded within other current assets and other assets when such costs are determined to be incremental to obtaining a contract, would not have been incurred otherwise and the Company expects to recover those costs. These costs are amortized to expense on a systematic basis consistent with the transfer of the products or services to the customer. Depending on the line of business to which the contract relates, this may be based upon the average economic life of the products sold or average period for which services are provided, inclusive of anticipated contract renewals. Determining the estimated economic life of the products sold requires judgment with respect to anticipated future technological changes. Costs to obtain customer contracts are only incurred in the MA segment. Cost to fulfill a contract with a customer Costs incurred to fulfill customer contracts, are deferred and recorded within other current assets and other assets when such costs relate directly to a contract, generate or enhance resources of the Company that will be used in satisfying performance obligations in the future and the Company expects to recover those costs. The Company capitalizes royalty costs within the MA segment related to third-party information data providers associated with hosted company information and business intelligence products. These costs are amortized to expense consistent with the recognition pattern of the related revenue over time. In addition, the Company capitalizes work-in-process costs for in-progress MIS ratings, which is recognized consistent with the rendering of the related services to the customers, as ratings are issued.
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| Accounts Receivable Allowances | Accounts Receivable Allowances In order to determine an estimate of expected credit losses, receivables are segmented based on similar risk characteristics including historical credit loss patterns to calculate reserve rates. The Company uses an aging method for developing its allowance for credit losses by which receivable balances are stratified based on aging category. A reserve rate is calculated for each aging category which is generally based on historical information, and is adjusted, when necessary, for current conditions (e.g., macroeconomic or industry related) and reasonable and supportable forecasts about the future. The Company also considers customer specific information (e.g., bankruptcy or financial difficulty) when estimating its expected credit losses, as well as the economic environment of the customers, both from an industry and geographic perspective, in evaluating the need for allowances. Expected credit losses are reflected as additions to the accounts receivable allowance. Actual uncollectible account write-offs are recorded against the allowance.
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| Leases | Leases The Company has operating leases, which substantially all relate to the lease of office space. The Company’s leases which are classified as finance leases are not material to the consolidated financial statements. The Company determines if an arrangement meets the definition of a lease at contract inception. The Company recognizes in its consolidated balance sheets a lease liability and an ROU Asset for all leases with a lease term greater than 12 months. In determining the length of the lease term, the Company utilizes judgment in assessing the likelihood of whether it is reasonably certain that it will exercise an option to extend or early-terminate a lease, if such options are provided in the lease agreement. ROU Assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU Assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As substantially all of the Company’s leases do not provide an implicit interest rate, the Company uses its estimated secured incremental borrowing rates at the lease commencement date in determining the present value of lease payments. These secured incremental borrowing rates are attributable to the currency in which the lease is denominated. At commencement, the Company’s initial measurement of the ROU Asset is calculated as the present value of the remaining lease payments (i.e., lease liability), with additive adjustments reflecting: initial direct costs (e.g., broker commissions) and prepaid lease payments (if any); and reduced by any lease incentives provided by the lessor if: (i) received before lease commencement or (ii) receipt of the lease incentive is contingent upon future events for which the occurrence is both probable and within the Company’s control. Lease expense for minimum operating lease payments is recognized on a straight-line basis over the lease term. This straight-line lease expense represents a single lease cost which is comprised of both an interest accretion component relating to the lease liability and amortization of the ROU Assets. The Company records this single lease cost in operating and SG&A expenses. However, in situations where an operating lease ROU Asset has been impaired, the subsequent amortization of the ROU Asset is then recorded on a straight-line basis over the remaining lease term and is combined with accretion expense on the lease liability to result in single operating lease cost (which subsequent to impairment will no longer follow a straight-line recognition pattern). The Company has lease agreements which include lease and non-lease components. For the Company’s office space leases, the lease components (e.g., fixed rent payments) and non-lease components (e.g., fixed common-area maintenance costs) are combined and accounted for as a single lease component. Variable lease payments (e.g., variable common-area-maintenance costs) are only included in the initial measurement of the lease liability to the extent those payments depend on an index or a rate. Variable lease payments not included in the lease liability are recognized in net income in the period in which the obligation for those payments is incurred.
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| Contingencies | Contingencies Moody’s is involved in legal and tax proceedings, governmental, regulatory and legislative investigations and inquiries, claims and litigation that are incidental to the Company’s business, including claims based on ratings assigned by MIS. Moody’s is also subject to ongoing tax audits in the normal course of business. Management periodically assesses the Company’s liabilities and contingencies in connection with these matters based upon the latest information available. Moody’s discloses material pending legal proceedings pursuant to SEC rules and other pending matters as it may determine to be appropriate. For claims, litigation and proceedings and governmental investigations and inquiries not related to income taxes, the Company records liabilities in the consolidated financial statements when it is both probable that a liability has been incurred and the amount of loss can be reasonably estimated and periodically adjusts these as appropriate. When the reasonable estimate of the loss is within a range of amounts, the minimum amount of the range is accrued unless some higher amount within the range is a better estimate than another amount within the range. In instances when a loss is reasonably possible but uncertainties exist related to the probable outcome and/or the amount or range of loss, management does not record a liability but discloses the contingency if material. As additional information becomes available, the Company adjusts its assessments and estimates of such matters accordingly. Moody’s also discloses material pending legal proceedings pursuant to SEC rules and other pending matters as it may determine to be appropriate. In view of the inherent difficulty of assessing the potential outcome of legal proceedings, governmental, regulatory and legislative investigations and inquiries, claims and litigation and similar matters and contingencies, particularly when the claimants seek large or indeterminate damages or assert novel legal theories or the matters involve a large number of parties, the Company often cannot predict what the eventual outcome of the pending matters will be or the timing of any resolution of such matters. The Company also may be unable to predict the impact (if any) that any such matters may have on how its business is conducted, on its competitive position or on its financial position, results of operations or cash flows. As the process to resolve any pending matters progresses, management will continue to review the latest information available and assess its ability to predict the outcome of such matters and the effects, if any, on its operations and financial condition and to accrue for and disclose such matters as and when required. However, because such matters are inherently unpredictable and unfavorable developments or resolutions can occur, the ultimate outcome of such matters, including the amount of any loss, may differ from those estimates.
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| Operating Expenses | Operating Expenses Operating expenses include costs associated with the development and production of the Company’s products and services and their delivery to customers. These expenses principally include employee compensation and benefits and travel costs that are incurred in connection with these activities. Operating expenses are charged to income as incurred.
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| Selling, General and Administrative Expenses | Selling, General and Administrative Expenses SG&A expenses include such items as compensation and benefits for corporate officers and staff and compensation and other expenses related to sales. They also include items such as office rent, business insurance and professional fees. SG&A expenses are charged to income as incurred.
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| Foreign Currency Translation | Foreign Currency Translation For all operations outside the U.S. where the Company has designated the local currency as the functional currency, assets and liabilities are translated into U.S. dollars using end of year exchange rates, and revenue and expenses are translated using average exchange rates for the year. For these foreign operations, currency translation adjustments are recorded to other comprehensive income.
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| Comprehensive Income | Comprehensive Income Comprehensive income represents the change in net assets of a business enterprise during a period due to transactions and other events and circumstances from non-owner sources including: foreign currency translation impacts; net actuarial gains and losses and net prior service costs related to pension and other retirement plans; and gains and losses on derivative instruments designated as net investment hedges or cash flow hedges. Comprehensive income items, including cumulative translation adjustments of entities that are less-than-wholly-owned subsidiaries, will be reclassified to noncontrolling interests and thereby, adjusting AOCI(L) proportionately in accordance with the percentage of ownership interest of the non-controlling shareholder. Additionally, the Company reclassifies the income tax effects from AOCI(L) at such time as the earnings or loss of the related activity are recognized in earnings.
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| Income Taxes | Income Taxes The Company accounts for income taxes under the asset and liability method in accordance with ASC Topic 740. Therefore, income tax expense is based on reported income before income taxes and deferred income taxes reflect the effect of temporary differences between the amounts of assets and liabilities that are recognized for financial reporting purposes and the amounts that are recognized for income tax purposes. The Company classifies interest related to unrecognized tax benefits as a component of interest expense in its consolidated statements of operations. Penalties are recognized in other non-operating expenses. For UTPs, the Company first determines whether it is more-likely-than-not (defined as a likelihood of more than fifty percent) that a tax position will be sustained based on its technical merits as of the reporting date, assuming that taxing authorities will examine the position and have full knowledge of all relevant information. A tax position that meets this more-likely-than-not threshold is then measured and recognized at the largest amount of benefit that is greater than fifty percent likely to be realized upon effective settlement with a taxing authority. The Company has provided deferred taxes for those entities whose earnings are not considered indefinitely reinvested.
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| Fair Value of Financial Instruments | Fair Value of Financial Instruments The Company’s financial instruments include cash, cash equivalents, trade receivables and payables, and certain short-term investments consisting primarily of certificates of deposit and money market deposits, all of which are short-term in nature and, accordingly, approximate fair value. The Company also invests in mutual funds, which are accounted for as equity securities with readily determinable fair values under ASC Topic 321. The Company measures these investments at fair value with both realized gains and losses and unrealized holding gains and losses for these investments included in net income. Also, the Company uses derivative instruments to manage certain financial exposures that occur in the normal course of business. These derivative instruments are carried at fair value in the Company’s consolidated balance sheets. Fair value is defined by the ASC Topic 820 as the price that would be received from selling an asset or paid to transfer a liability (i.e., an exit price) in an orderly transaction between market participants at the measurement date. The determination of this fair value is based on the principal or most advantageous market in which the Company could commence transactions and considers assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions and risk of nonperformance. Also, determination of fair value assumes that market participants will consider the highest and best use of the asset. The ASC establishes a fair value hierarchy whereby the inputs contained in valuation techniques used to measure fair value are categorized into three broad levels as follows: Level 1: quoted market prices in active markets that the reporting entity has the ability to access at the date of the fair value measurement; Level 2: inputs other than quoted market prices described in Level 1 that are observable for the asset or liability, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; Level 3: unobservable inputs that are supported by little or no market activity and that are significant to the fair value measurement of the assets or liabilities.
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| Concentration of Credit Risk | Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk principally consist of cash and cash equivalents, short-term investments, trade receivables and derivatives. For cash and cash equivalents, short-term investments and derivatives, the Company manages its credit exposure by limiting the amount of counterparty risk with any particular financial institution; limits are assigned to each counterparty based on perceived quality of credit and are monitored daily. Cash equivalents are held among various money market deposit accounts, money market funds, and certificates of deposits as of December 31, 2024 and 2023. Short-term investments primarily consist of certificates of deposit as of December 31, 2024 and 2023. Derivatives primarily consist of foreign exchange forwards or swap contracts (interest rate swaps and cross-currency swaps) as of December 31, 2024 and 2023. For trade receivables, no customer accounted for 10% or more of accounts receivable at December 31, 2024 or 2023.
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| Earnings per Share of Common Stock | Earnings per Share of Common Stock Basic shares outstanding is calculated based on the weighted average number of shares of common stock outstanding during the reporting period. Diluted shares outstanding is calculated giving effect to all potentially dilutive common shares, assuming that such shares were outstanding and dilutive during the reporting period.
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| Pension and Other Retirement Benefits | Pension and Other Retirement Benefits Moody’s maintains various noncontributory DBPPs as well as other contributory and noncontributory retirement plans. The expense and assets/liabilities that the Company reports for its pension and other retirement benefits are dependent on many assumptions concerning the outcome of future events and circumstances. These assumptions represent the Company’s best estimates and may vary by plan. The differences between the assumptions for the expected long-term rate of return on plan assets and actual experience is spread over a five-year period to the market-related value of plan assets, which is used in determining the expected return on assets component of annual pension expense. All other actuarial gains and losses are generally deferred and amortized over the estimated average future working life of active plan participants. The Company recognizes as an asset or liability in its consolidated balance sheet the funded status of its defined benefit retirement plans, measured on a plan-by-plan basis. Changes in the funded status due to actuarial gains/losses are recorded as part of other comprehensive income during the period the changes occur.
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| Use of Estimates | Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the period. Actual results could differ from those estimates.
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REVENUES (Tables) |
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| Revenue from Contract with Customer [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disaggregation of Revenue | The following table presents the Company’s revenues disaggregated by LOB:
(1)Other includes: recurring monitoring fees of a rated debt obligation and/or entities that issue such obligations as well as fees from programs such as commercial paper, medium term notes, and ICRA corporate finance revenue. The following table presents the Company’s revenues disaggregated by LOB and geographic area:
The following table presents the Company's reportable segment revenues disaggregated by segment and geographic region:
The following table summarizes the split between transaction and recurring revenue:
(1) Revenue from software implementation services and risk management advisory projects, while classified by management as transactional revenue, is recognized over time under GAAP. The following table presents the timing of revenue recognition:
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| Unbilled Receivables | The following table presents the Company's unbilled receivables, which are included within accounts receivable, net, at December 31, 2024 and December 31, 2023:
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| Schedule of Changes in the Deferred Revenue Balances | Significant changes in the deferred revenue balances during the year ended December 31, 2024 are as follows:
Significant changes in the deferred revenue balances during the year ended December 31, 2023 are as follows:
Significant changes in the deferred revenue balances during the year ended December 31, 2022 are as follows:
For the MA segment, for the year ended December 31, 2024, the increase in deferred revenue was primarily due to organic growth. The change in deferred revenue for both segments was not significant for the years ended December 31, 2023 and 2022.
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| Capitalized Contract Cost | MA Costs to Obtain a Contract with a Customer
MA and MIS Costs to Fulfill a Contract with a Customer
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RECONCILIATION OF WEIGHTED AVERAGE SHARES OUTSTANDING (Tables) |
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Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reconciliation of Basic to Diluted Shares Outstanding | Below is a reconciliation of basic to diluted shares outstanding:
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CASH EQUIVALENTS AND INVESTMENTS (Tables) |
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Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash and Cash Equivalents [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash and Cash Equivalents | The tables below provide additional information on the Company’s cash equivalents and investments:
(1) Consists of time deposits, money market deposit accounts and money market funds. The remaining contractual maturities for the certificates of deposits classified as short-term investments are 1 month to 12 months at both December 31, 2024 and December 31, 2023. The remaining contractual maturities for the certificates of deposit classified in other assets are 14 months at December 31, 2023. Time deposits with a maturity of less than 90 days at time of purchase are classified as cash and cash equivalents.
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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables) |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Derivative Instruments | The following table summarizes the Company’s interest rate swaps designated as fair value hedges: The following tables provide information on the cross-currency swaps designated as net investment hedges under ASC Topic 815:
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| Gains and Losses on Derivatives Designated as Hedging Instruments | The following table summarizes the impact to the statements of operations of the Company’s interest rate swaps designated as fair value hedges:
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| Schedule of Net Investment Hedges, Notional Amount That Will Be Settled At Expiry | As of December 31, 2024, these hedges will expire and the notional amounts will be settled as follows unless terminated early at the discretion of the Company:
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| Amount of Gain/(Loss) Recognized in AOCI on Derivative Net Investment Hedging Relationships | The following table provides information on the gains (losses) on the Company’s net investment and cash flow hedges:
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| Components of Accumulated Other Comprehensive Income | The cumulative amount of net investment hedge and cash flow hedge gains (losses) remaining in AOCL is as follows:
The following tables show changes in AOCL by component (net of tax):
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| Summary of Notional Amounts of Outstanding Derivative Positions | The following table summarizes the notional amounts of the Company’s outstanding foreign exchange forwards:
(1) € = euro, £ = British pound, S$ = Singapore dollar, $ = U.S. dollar, ¥ = Japanese yen, C$ = Canadian dollar, ₹= Indian rupee, A$ = Australian dollar
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| Gains and Losses Recognized in Consolidated Statement of Operations on Derivatives Not Designated as Hedging instruments | The following table summarizes the impact to the consolidated statements of operations relating to the gains (losses) on the Company’s derivatives which are not designated as hedging instruments:
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| Fair Value of Derivative Instruments | The table below shows the classification between assets and liabilities on the Company’s consolidated balance sheets for the fair value of the derivative instruments as well as the carrying value of its non-derivative debt instruments designated and qualifying as net investment hedges:
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PROPERTY AND EQUIPMENT, NET (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property and Equipment, Net | Property and equipment, net consisted of:
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GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Activity in Goodwill | The following tables summarize the activity in goodwill:
(1)The 2024 additions/adjustments primarily relate to certain immaterial acquisitions in 2024 (most notably GCR, Numerated and Praedicat). (2)The 2023 additions/adjustments primarily relate to a reallocation of goodwill pursuant to a realignment of certain components of the Company's ESG business in the first quarter of 2023
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| Acquired Intangible Assets and Related Amortization | Acquired intangible assets and related accumulated amortization consisted of:
(1)Other intangible assets primarily consist of trade secrets, covenants not to compete, and acquired ratings methodologies and models.
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| Amortization Expense Relating to Acquired Intangible Assets | Amortization expense relating to acquired intangible assets is as follows:
(1)Amount for the year ended December 31, 2024 excludes incremental amortization expense of $5 million associated with amortizable intangible assets which is presented within charges related to asset abandonment on the consolidated statement of operations, as more fully discussed in Note 22 to the consolidated financial statements.
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| Estimated Future Amortization Expense for Acquired Intangible Assets Subject to Amortization | Estimated future annual amortization expense for intangible assets subject to amortization is as follows:
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RESTRUCTURING (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Restructuring and Related Activities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring Expenses Included in Consolidated Statements of Operations | Total expenses included in the accompanying consolidated statements of operations related to the aforementioned restructuring programs are outlined below:
(1)For the year ended December 31, 2023, primarily includes ROU Asset impairment charges. For the year ended December 31, 2022, primarily includes ROU Asset and leasehold improvement impairment charges and the non-cash acceleration of amortization of abandoned ROU Assets and leasehold improvements. The fair value of the impaired assets in both periods was determined by utilizing the present value of the estimated future cash flows attributable to the assets. The fair value of those assets subsequent to the impairment for the year ended December 31, 2023 was $4 million and was categorized as Level 3 within the ASC Topic 820 fair value hierarchy. The fair value of those assets subsequent to the impairment for the year ended December 31, 2022 was $0. (2)Primarily includes professional service fees related to execution of the restructuring program. (3)Primarily includes severance costs and expense related to the modification of equity awards. The table below shows cumulative restructuring expense incurred through December 31, 2024 by reportable segment.
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| Changes to the Restructuring Liability | Changes to the restructuring liability for the aforementioned restructuring programs were as follows:
(1)Restructuring liability is primarily comprised of employee termination costs and other severance-related charges.
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FAIR VALUE (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Financial Instruments Carried at Fair Value on Recurring Basis | The tables below present information about items that are carried at fair value at December 31, 2024 and 2023:
(1)Represents fair value of certain derivative contracts as more fully described in Note 6 to the consolidated financial statements.
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OTHER BALANCE SHEET INFORMATION (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Balance Sheet Information [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Additional Details Related to Certain Balance Sheet Captions | The following tables contain additional detail related to certain balance sheet captions:
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| Investments in and Advances to Affiliates | The following table provides additional detail regarding Moody's investments in non-consolidated affiliates, as included in other assets in the consolidated balance sheets:
(1)Equity securities in which the Company has significant influence over the investee but does not have a controlling financial interest in accordance with ASC Topic 323. (2)Equity securities without readily determinable fair value for which the Company has elected to apply the measurement alternative in accordance with ASC Topic 321, which is more fully discussed in Note 2.
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COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Components of Accumulated Other Comprehensive Income | The cumulative amount of net investment hedge and cash flow hedge gains (losses) remaining in AOCL is as follows:
The following tables show changes in AOCL by component (net of tax):
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PENSION AND OTHER RETIREMENT BENEFITS (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retirement Benefits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Changes in Benefit Obligations and Fair Value of Plan Assets for Retirement Plans | The following is a summary of changes in benefit obligations and fair value of plan assets for the Retirement Plans for the years ended December 31:
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| Accumulated Benefit Obligation in Excess of Plan Assets | The following information is for those pension plans with an accumulated benefit obligation in excess of plan assets:
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| Summary of Pre-Tax Net Actuarial Losses and Prior Service Cost Recognized in AOCI | The following table summarizes the pre-tax net actuarial losses and prior service costs recognized in AOCL for the Company’s Retirement Plans as of December 31:
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| Components of Net Periodic Benefit Expense Related to Retirement Plans | Net periodic pension expenses (income) recognized for the Retirement Plans are as follows for the years ended December 31:
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| Summary of Pre-Tax Amounts Recorded in OCI | The following table summarizes the pre-tax amounts recorded in OCI related to the Company’s Retirement Plans for the years ended December 31:
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| Weighted-average Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Expenses | Weighted-average assumptions used to determine benefit obligations at December 31:
Weighted-average assumptions used to determine net periodic benefit expense for years ended December 31:
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| Summary of Pension Plan Assets by Category Based on Hierarchy of Fair Value Measurements | Fair value of the assets in the Company’s funded pension plan by asset category at December 31, 2024 and 2023 are as follows:
(1)Investments are measured using the net asset value per share (or its equivalent) practical expedient and have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit a reconciliation of the fair value hierarchy to the value of the total plan assets.
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| Estimated Future Benefits Payments for Retirement Plans | Estimated future benefits payments for the Retirement Plans are as follows as of the year ended December 31, 2024:
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STOCK-BASED COMPENSATION PLANS (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock-Based Compensation Cost and Associated Tax Benefit | Presented below is a summary of the stock-based compensation expense and associated tax benefit in the accompanying consolidated statements of operations:
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| Weighted Average Assumptions used in Determining Fair Value for Options Granted | The following weighted average assumptions were used for options granted:
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| Share-based Payment Arrangement, Option and Stock Appreciation Rights, Activity | A summary of option activity as of December 31, 2024 and changes during the year then ended is presented below:
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| Stock Option Exercises and Restricted Stock Vesting | The following table summarizes information relating to stock option exercises:
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| Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity | A summary of nonvested restricted stock activity for the year ended December 31, 2024 is presented below:
A summary of performance-based restricted stock activity for the year ended December 31, 2024 is presented below:
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| Share-based Compensation Arrangements by Share-based Payment Award, Restricted Stock Units, Vested and Expected to Vest | The following table summarizes information relating to the vesting of restricted stock awards:
The following table summarizes information relating to the vesting of the Company’s performance-based restricted stock awards:
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INCOME TAXES (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Provision for Income Taxes | Components of the Company’s income tax provision are as follows:
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| Reconciliation of United States Federal Statutory Tax Rate to Effective Tax Rate on Income before Provision for Income Taxes | A reconciliation of the U.S. federal statutory tax rate to the Company’s ETR on income before provision for income taxes is as follows: The decrease in the ETR in 2023 resulted primarily from the favorable resolution of uncertain tax positions in various U.S. and non-U.S. jurisdictions.
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| Source of Income before Provision for Income Taxes | The source of income before provision for income taxes is as follows:
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| Components of Deferred Tax Assets and Liabilities | The components of deferred tax assets and liabilities are as follows:
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| Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of the beginning and ending amount of UTPs is as follows:
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INDEBTEDNESS (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Total Indebtedness | The following table summarizes total indebtedness:
(1)The fair value of interest rate swaps in the tables above represents the cumulative amount of fair value hedging adjustments included in the carrying amount of the hedged debt.
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| Schedule of Credit Facilities | The 2024 Credit Facility replaces the Company's $1.25 billion 2021 Credit Facility that was scheduled to mature in December 2026. Further information on the key terms of these revolving credit facilities is below:
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| Principal Payments Due on Long-term Borrowings | The repayment schedule for the Company’s borrowings is as follows:
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| Summary of Components of Interest as Presented in Consolidated Statements of Operations | The following table summarizes the components of interest as presented in the consolidated statements of operations and the cash paid for interest:
(1) Expense on borrowings includes interest on long-term debt, as well as realized gains/losses related to interest rate swaps and cross currency swaps, which are more fully discussed in Note 6. (2) The amount for the year ended December 31, 2023 includes a $22 million reduction of tax-related interest expense primarily related to the resolutions of tax matters. (3) Interest paid includes net settlements on interest rate swaps more fully discussed in Note 6.
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| Fair Value and Carrying Value of Long-term Debt | The fair value and carrying value of the Company’s debt as of December 31, 2024 and 2023 are as follows:
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CAPITAL STOCK (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stockholders' Equity Note [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share Repurchase Programs | The table below summarizes the Company’s remaining authority under its share repurchase program as of December 31, 2024:
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| Dividends Paid | The Company’s cash dividends were:
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LEASES (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Components of Lease Cost | The following table presents the components of the Company’s lease cost:
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| Schedule of Operating Leases Information | The following tables present other information related to the Company’s operating leases:
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| Lessee, Operating Lease, Liability, Maturity | The following table presents a maturity analysis of the future minimum lease payments included within the Company’s operating lease liabilities at December 31, 2024:
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SEGMENT INFORMATION (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Financial Information by Segment | The table below presents revenue, significant expenses regularly provided to the CODM and Adjusted Operating Income by reportable segment. The CODM, identified as the Company's CEO, utilizes the Adjusted Operating Income measure to assess the profitability of the Company and each of its reportable segments each quarter. Adjusted Operating Income is also used in our budgeting and forecasting processes, enabling the allocation of capital resources across the Company's strategic initiatives.
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| Restructuring Expenses Included in Consolidated Statements of Operations | Total expenses included in the accompanying consolidated statements of operations related to the aforementioned restructuring programs are outlined below:
(1)For the year ended December 31, 2023, primarily includes ROU Asset impairment charges. For the year ended December 31, 2022, primarily includes ROU Asset and leasehold improvement impairment charges and the non-cash acceleration of amortization of abandoned ROU Assets and leasehold improvements. The fair value of the impaired assets in both periods was determined by utilizing the present value of the estimated future cash flows attributable to the assets. The fair value of those assets subsequent to the impairment for the year ended December 31, 2023 was $4 million and was categorized as Level 3 within the ASC Topic 820 fair value hierarchy. The fair value of those assets subsequent to the impairment for the year ended December 31, 2022 was $0. (2)Primarily includes professional service fees related to execution of the restructuring program. (3)Primarily includes severance costs and expense related to the modification of equity awards. The table below shows cumulative restructuring expense incurred through December 31, 2024 by reportable segment.
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| Company's Reportable Segment Revenues Disaggregated by Segment and Geographic Region | CONSOLIDATED REVENUE AND LONG-LIVED ASSETS INFORMATION BY GEOGRAPHIC AREA
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VALUATION AND QUALIFYING ACCOUNTS (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Activity for Valuation Allowances | Below is a summary of activity:
(1)Reflects write-off of uncollectible accounts receivable or expiration of foreign net operating tax losses.
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OTHER NON-OPERATING (EXPENSE) INCOME, NET (Tables) |
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Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Income and Expenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Other Nonoperating Income (Expense) | The following table summarizes the components of other non-operating income, net as presented in the consolidated statements of operations:
(1) The amount for the year ended December 31, 2023 includes a $23 million loss recorded pursuant to an immaterial out-of-period adjustment relating to the 2022 fiscal year. The amount for the year ended December 31, 2022 includes FX translation losses of $20 million reclassified to earnings resulting from the Company no longer conducting commercial operations in Russia. (2) The amount for the year ended December 31, 2024 reflects non-cash gains relating to the step-acquisitions of Praedicat and GCR.
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Description of Business and Basis of Presentation - Additional Information (Detail) |
12 Months Ended |
|---|---|
|
Dec. 31, 2024
segment
| |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Number of reportable segments | 2 |
Summary of Significant Accounting Policies - Additional Information (Detail) |
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2024
reportingUnit
customer
|
Dec. 31, 2023
customer
|
|
| Capitalized Contract Cost [Line Items] | ||
| Number of reporting units | 4 | |
| Number of customers greater than 10% or more of accounts receivable | customer | 0 | 0 |
| MIS | ||
| Capitalized Contract Cost [Line Items] | ||
| Number of reporting units | 2 | |
| MA | ||
| Capitalized Contract Cost [Line Items] | ||
| Number of reporting units | 2 | |
| Subscription and Maintenance Contracts | MA | Minimum | ||
| Capitalized Contract Cost [Line Items] | ||
| Revenue, contractual coverage period (years) | 3 years | |
| General customer contract payment condition (days) | 30 days | |
| Subscription and Maintenance Contracts | MA | Maximum | ||
| Capitalized Contract Cost [Line Items] | ||
| Revenue, contractual coverage period (years) | 5 years | |
| General customer contract payment condition (days) | 60 days |
Revenues - Revenue by Category (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 7,088 | $ 5,916 | $ 5,468 |
| Eliminations | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | (206) | (199) | (182) |
| Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 7,088 | 5,916 | 5,468 |
| Eliminations | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | (206) | (199) | (182) |
| MA | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 3,295 | 3,056 | 2,769 |
| MA | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 3,308 | 3,069 | 2,777 |
| MA | Eliminations | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 13 | 13 | 8 |
| MA | Total Decision Solutions | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 1,516 | 1,383 | 1,245 |
| MA | Total Decision Solutions | Banking | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 551 | 521 | 481 |
| MA | Total Decision Solutions | Insurance | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 598 | 550 | 504 |
| MA | Total Decision Solutions | KYC | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 367 | 312 | 260 |
| MA | Research and Insights | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 926 | 884 | 812 |
| MA | Data and Information | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 853 | 789 | 712 |
| MIS | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 3,793 | 2,860 | 2,699 |
| MIS | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 3,986 | 3,046 | 2,873 |
| MIS | Eliminations | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 193 | 186 | 174 |
| MIS | Corporate finance (CFG) | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 1,950 | 1,404 | 1,269 |
| MIS | Corporate finance (CFG) | Investment-grade | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 488 | 335 | 294 |
| MIS | Corporate finance (CFG) | High-yield | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 285 | 150 | 108 |
| MIS | Corporate finance (CFG) | Bank loans | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 527 | 292 | 275 |
| MIS | Corporate finance (CFG) | Other accounts | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 650 | 627 | 592 |
| MIS | Structured finance (SFG) | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 518 | 405 | 462 |
| MIS | Structured finance (SFG) | Asset-backed securities | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 130 | 121 | 116 |
| MIS | Structured finance (SFG) | RMBS | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 98 | 92 | 106 |
| MIS | Structured finance (SFG) | CMBS | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 94 | 60 | 98 |
| MIS | Structured finance (SFG) | Structured credit | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 193 | 129 | 140 |
| MIS | Structured finance (SFG) | Other accounts | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 3 | 3 | 2 |
| MIS | Financial institutions (FIG) | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 727 | 545 | 491 |
| MIS | Financial institutions (FIG) | Banking | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 450 | 378 | 337 |
| MIS | Financial institutions (FIG) | Insurance | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 214 | 123 | 113 |
| MIS | Financial institutions (FIG) | Managed investments | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 49 | 32 | 28 |
| MIS | Financial institutions (FIG) | Other accounts | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 14 | 12 | 13 |
| MIS | Public, project and infrastructure finance (PPIF) | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 564 | 476 | 431 |
| MIS | Public, project and infrastructure finance (PPIF) | Public finance / sovereign | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 240 | 205 | 197 |
| MIS | Public, project and infrastructure finance (PPIF) | Project and infrastructure | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 324 | 271 | 234 |
| MIS | Rating Revenue | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 3,759 | 2,830 | 2,653 |
| MIS | MIS Other | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 34 | $ 30 | $ 46 |
Revenues - Revenues Disaggregated by Line of Business and Geographical Area (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 7,088 | $ 5,916 | $ 5,468 |
| Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 7,088 | 5,916 | 5,468 |
| U.S. | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 3,836 | 3,071 | 2,865 |
| Non-U.S. | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 3,252 | 2,845 | 2,603 |
| MA | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 3,295 | 3,056 | 2,769 |
| MA | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 3,308 | 3,069 | 2,777 |
| MA | U.S. | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 1,390 | 1,321 | 1,231 |
| MA | U.S. | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 1,390 | 1,321 | 1,231 |
| MA | Non-U.S. | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 1,905 | 1,735 | 1,538 |
| MA | Non-U.S. | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 1,905 | 1,735 | 1,538 |
| MA | Total Decision Solutions | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 1,516 | 1,383 | 1,245 |
| MA | Total Decision Solutions | U.S. | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 570 | 550 | 511 |
| MA | Total Decision Solutions | Non-U.S. | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 946 | 833 | 734 |
| MA | Research and Insights | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 926 | 884 | 812 |
| MA | Research and Insights | U.S. | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 514 | 490 | 470 |
| MA | Research and Insights | Non-U.S. | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 412 | 394 | 342 |
| MA | Data and Information | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 853 | 789 | 712 |
| MA | Data and Information | U.S. | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 306 | 281 | 250 |
| MA | Data and Information | Non-U.S. | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 547 | 508 | 462 |
| MIS | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 3,793 | 2,860 | 2,699 |
| MIS | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 3,986 | 3,046 | 2,873 |
| MIS | U.S. | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 2,446 | 1,750 | 1,634 |
| MIS | U.S. | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 2,446 | 1,750 | 1,634 |
| MIS | Non-U.S. | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 1,347 | 1,110 | 1,065 |
| MIS | Non-U.S. | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 1,347 | 1,110 | 1,065 |
| MIS | Rating Revenue | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 3,759 | 2,830 | 2,653 |
| MIS | Rating Revenue | U.S. | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 2,446 | 1,749 | 1,629 |
| MIS | Rating Revenue | Non-U.S. | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 1,313 | 1,081 | 1,024 |
| MIS | Corporate finance (CFG) | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 1,950 | 1,404 | 1,269 |
| MIS | Corporate finance (CFG) | U.S. | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 1,333 | 952 | 832 |
| MIS | Corporate finance (CFG) | Non-U.S. | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 617 | 452 | 437 |
| MIS | Structured finance (SFG) | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 518 | 405 | 462 |
| MIS | Structured finance (SFG) | U.S. | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 368 | 252 | 308 |
| MIS | Structured finance (SFG) | Non-U.S. | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 150 | 153 | 154 |
| MIS | Financial institutions (FIG) | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 727 | 545 | 491 |
| MIS | Financial institutions (FIG) | U.S. | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 386 | 253 | 223 |
| MIS | Financial institutions (FIG) | Non-U.S. | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 341 | 292 | 268 |
| MIS | Public, project and infrastructure finance (PPIF) | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 564 | 476 | 431 |
| MIS | Public, project and infrastructure finance (PPIF) | U.S. | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 359 | 292 | 266 |
| MIS | Public, project and infrastructure finance (PPIF) | Non-U.S. | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 205 | 184 | 165 |
| MIS | MIS Other | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 34 | 30 | 46 |
| MIS | MIS Other | U.S. | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 0 | 1 | 5 |
| MIS | MIS Other | Non-U.S. | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 34 | $ 29 | $ 41 |
Revenues - Consolidated Revenue Information by Geographic Area (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Segment Reporting Information [Line Items] | |||
| Revenue | $ 7,088 | $ 5,916 | $ 5,468 |
| Operating Segments | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 7,088 | 5,916 | 5,468 |
| MA | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 3,295 | 3,056 | 2,769 |
| MA | Operating Segments | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 3,308 | 3,069 | 2,777 |
| MIS | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 3,793 | 2,860 | 2,699 |
| MIS | Operating Segments | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 3,986 | 3,046 | 2,873 |
| U.S. | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 3,836 | 3,071 | 2,865 |
| U.S. | MA | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 1,390 | 1,321 | 1,231 |
| U.S. | MA | Operating Segments | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 1,390 | 1,321 | 1,231 |
| U.S. | MIS | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 2,446 | 1,750 | 1,634 |
| U.S. | MIS | Operating Segments | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 2,446 | 1,750 | 1,634 |
| Non-U.S. | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 3,252 | 2,845 | 2,603 |
| Non-U.S. | MA | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 1,905 | 1,735 | 1,538 |
| Non-U.S. | MA | Operating Segments | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 1,905 | 1,735 | 1,538 |
| Non-U.S. | MIS | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 1,347 | 1,110 | 1,065 |
| Non-U.S. | MIS | Operating Segments | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 1,347 | 1,110 | 1,065 |
| EMEA | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 2,174 | 1,886 | 1,708 |
| EMEA | MA | Operating Segments | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 1,306 | 1,207 | 1,060 |
| EMEA | MIS | Operating Segments | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 868 | 679 | 648 |
| Asia-Pacific | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 629 | 570 | 539 |
| Asia-Pacific | MA | Operating Segments | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 345 | 299 | 268 |
| Asia-Pacific | MIS | Operating Segments | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 284 | 271 | 271 |
| Americas | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 449 | 389 | 356 |
| Americas | MA | Operating Segments | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 254 | 229 | 210 |
| Americas | MIS | Operating Segments | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | $ 195 | $ 160 | $ 146 |
Revenues - Transaction and Relationship Revenue (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 7,088 | $ 5,916 | $ 5,468 |
| Percentage of Revenues | 100.00% | 100.00% | 100.00% |
| Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 7,088 | $ 5,916 | $ 5,468 |
| MA | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 3,295 | 3,056 | 2,769 |
| MA | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 3,308 | $ 3,069 | $ 2,777 |
| Percentage of Revenues | 100.00% | 100.00% | 100.00% |
| MIS | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 3,793 | $ 2,860 | $ 2,699 |
| MIS | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 3,986 | $ 3,046 | $ 2,873 |
| Percentage of Revenues | 100.00% | 100.00% | 100.00% |
| Banking | MA | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 551 | $ 521 | $ 481 |
| Percentage of Revenues | 100.00% | 100.00% | 100.00% |
| Insurance | MA | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 598 | $ 550 | $ 504 |
| Percentage of Revenues | 100.00% | 100.00% | 100.00% |
| KYC | MA | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 367 | $ 312 | $ 260 |
| Percentage of Revenues | 100.00% | 100.00% | 100.00% |
| Corporate finance (CFG) | MIS | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 1,950 | $ 1,404 | $ 1,269 |
| Percentage of Revenues | 100.00% | 100.00% | 100.00% |
| Structured finance (SFG) | MIS | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 518 | $ 405 | $ 462 |
| Percentage of Revenues | 100.00% | 100.00% | 100.00% |
| Financial institutions (FIG) | MIS | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 727 | $ 545 | $ 491 |
| Percentage of Revenues | 100.00% | 100.00% | 100.00% |
| Public, project and infrastructure finance (PPIF) | MIS | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 564 | $ 476 | $ 431 |
| Percentage of Revenues | 100.00% | 100.00% | 100.00% |
| MIS Other | MIS | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 34 | $ 30 | $ 46 |
| Percentage of Revenues | 100.00% | 100.00% | 100.00% |
| Total Decision Solutions | MA | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 1,516 | $ 1,383 | $ 1,245 |
| Percentage of Revenues | 100.00% | 100.00% | 100.00% |
| Research and Insights | MA | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 926 | $ 884 | $ 812 |
| Percentage of Revenues | 100.00% | 100.00% | 100.00% |
| Data and Information | MA | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 853 | $ 789 | $ 712 |
| Percentage of Revenues | 100.00% | 100.00% | 100.00% |
| Transaction Revenue | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 2,678 | $ 1,826 | $ 1,682 |
| Percentage of Revenues | 38.00% | 31.00% | 31.00% |
| Transaction Revenue | MA | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 161 | $ 188 | $ 170 |
| Transaction Revenue | MA | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Percentage of Revenues | 5.00% | 6.00% | 6.00% |
| Transaction Revenue | MIS | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 2,517 | $ 1,638 | $ 1,512 |
| Transaction Revenue | MIS | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Percentage of Revenues | 66.00% | 57.00% | 56.00% |
| Transaction Revenue | Banking | MA | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 117 | $ 130 | $ 124 |
| Percentage of Revenues | 21.00% | 25.00% | 26.00% |
| Transaction Revenue | Insurance | MA | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 23 | $ 38 | $ 28 |
| Percentage of Revenues | 4.00% | 7.00% | 6.00% |
| Transaction Revenue | KYC | MA | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 2 | $ 1 | $ 1 |
| Percentage of Revenues | 1.00% | 0.00% | 0.00% |
| Transaction Revenue | Corporate finance (CFG) | MIS | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 1,415 | $ 887 | $ 772 |
| Percentage of Revenues | 73.00% | 63.00% | 61.00% |
| Transaction Revenue | Structured finance (SFG) | MIS | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 292 | $ 190 | $ 262 |
| Percentage of Revenues | 56.00% | 47.00% | 57.00% |
| Transaction Revenue | Financial institutions (FIG) | MIS | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 418 | $ 254 | $ 211 |
| Percentage of Revenues | 57.00% | 47.00% | 43.00% |
| Transaction Revenue | Public, project and infrastructure finance (PPIF) | MIS | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 384 | $ 301 | $ 263 |
| Percentage of Revenues | 68.00% | 63.00% | 61.00% |
| Transaction Revenue | MIS Other | MIS | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 8 | $ 6 | $ 4 |
| Percentage of Revenues | 24.00% | 20.00% | 9.00% |
| Transaction Revenue | Total Decision Solutions | MA | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 142 | $ 169 | $ 153 |
| Percentage of Revenues | 9.00% | 12.00% | 12.00% |
| Transaction Revenue | Research and Insights | MA | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 15 | $ 16 | $ 17 |
| Percentage of Revenues | 2.00% | 2.00% | 2.00% |
| Transaction Revenue | Data and Information | MA | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 4 | $ 3 | $ 0 |
| Percentage of Revenues | 0.00% | 0.00% | 0.00% |
| Relationship Revenue | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 4,410 | $ 4,090 | $ 3,786 |
| Percentage of Revenues | 62.00% | 69.00% | 69.00% |
| Relationship Revenue | MA | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 3,134 | $ 2,868 | $ 2,599 |
| Relationship Revenue | MA | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Percentage of Revenues | 95.00% | 94.00% | 94.00% |
| Relationship Revenue | MIS | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 1,276 | $ 1,222 | $ 1,187 |
| Relationship Revenue | MIS | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Percentage of Revenues | 34.00% | 43.00% | 44.00% |
| Relationship Revenue | Banking | MA | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 434 | $ 391 | $ 357 |
| Percentage of Revenues | 79.00% | 75.00% | 74.00% |
| Relationship Revenue | Insurance | MA | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 575 | $ 512 | $ 476 |
| Percentage of Revenues | 96.00% | 93.00% | 94.00% |
| Relationship Revenue | KYC | MA | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 365 | $ 311 | $ 259 |
| Percentage of Revenues | 99.00% | 100.00% | 100.00% |
| Relationship Revenue | Corporate finance (CFG) | MIS | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 535 | $ 517 | $ 497 |
| Percentage of Revenues | 27.00% | 37.00% | 39.00% |
| Relationship Revenue | Structured finance (SFG) | MIS | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 226 | $ 215 | $ 200 |
| Percentage of Revenues | 44.00% | 53.00% | 43.00% |
| Relationship Revenue | Financial institutions (FIG) | MIS | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 309 | $ 291 | $ 280 |
| Percentage of Revenues | 43.00% | 53.00% | 57.00% |
| Relationship Revenue | Public, project and infrastructure finance (PPIF) | MIS | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 180 | $ 175 | $ 168 |
| Percentage of Revenues | 32.00% | 37.00% | 39.00% |
| Relationship Revenue | MIS Other | MIS | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 26 | $ 24 | $ 42 |
| Percentage of Revenues | 76.00% | 80.00% | 91.00% |
| Relationship Revenue | Total Decision Solutions | MA | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 1,374 | $ 1,214 | $ 1,092 |
| Percentage of Revenues | 91.00% | 88.00% | 88.00% |
| Relationship Revenue | Research and Insights | MA | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 911 | $ 868 | $ 795 |
| Percentage of Revenues | 98.00% | 98.00% | 98.00% |
| Relationship Revenue | Data and Information | MA | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 849 | $ 786 | $ 712 |
| Percentage of Revenues | 100.00% | 100.00% | 100.00% |
Revenues - Revenue Recognition Timing (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Disaggregation of Revenue [Line Items] | |||
| Revenue recognized | $ 7,088 | $ 5,916 | $ 5,468 |
| Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue recognized | 7,088 | 5,916 | 5,468 |
| Revenue recognized at a point in time | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue recognized | 2,618 | 1,740 | 1,609 |
| Revenue recognized over time | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue recognized | 4,470 | 4,176 | 3,859 |
| MA | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue recognized | 3,295 | 3,056 | 2,769 |
| MA | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue recognized | 3,308 | 3,069 | 2,777 |
| MA | Revenue recognized at a point in time | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue recognized | 101 | 102 | 97 |
| MA | Revenue recognized over time | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue recognized | 3,194 | 2,954 | 2,672 |
| MIS | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue recognized | 3,793 | 2,860 | 2,699 |
| MIS | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue recognized | 3,986 | 3,046 | 2,873 |
| MIS | Revenue recognized at a point in time | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue recognized | 2,517 | 1,638 | 1,512 |
| MIS | Revenue recognized over time | Operating Segments | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue recognized | $ 1,276 | $ 1,222 | $ 1,187 |
Revenues - Unbilled Receivables (Detail) - Accounts Receivable - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| MA | ||
| Disaggregation of Revenue [Line Items] | ||
| Unbilled Receivables | $ 122 | $ 119 |
| MIS | ||
| Disaggregation of Revenue [Line Items] | ||
| Unbilled Receivables | $ 426 | $ 415 |
Revenues - Schedule of Changes in the Deferred Revenue Balances (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Change in Contract with Customer, Liability [Abstract] | |||
| Beginning Balance | $ 1,381 | $ 1,333 | $ 1,335 |
| Revenue recognized that was included in the deferred revenue balance at the beginning of the period | (1,253) | (1,191) | (1,206) |
| Increases due to amounts billable excluding amounts recognized as revenue during the period | 1,411 | 1,215 | 1,220 |
| Increases due to acquisitions during the period | 9 | 1 | |
| Effect of exchange rate changes | (37) | 24 | (17) |
| Total changes in deferred revenue | 130 | 48 | (2) |
| Ending Balance | 1,511 | 1,381 | 1,333 |
| Deferred revenue - current | 1,454 | 1,316 | 1,258 |
| Deferred revenue - non-current | 57 | 65 | 75 |
| MA | |||
| Change in Contract with Customer, Liability [Abstract] | |||
| Beginning Balance | 1,111 | 1,055 | 1,039 |
| Revenue recognized that was included in the deferred revenue balance at the beginning of the period | (1,044) | (980) | (996) |
| Increases due to amounts billable excluding amounts recognized as revenue during the period | 1,200 | 1,015 | 1,018 |
| Increases due to acquisitions during the period | 9 | 1 | |
| Effect of exchange rate changes | (33) | 21 | (7) |
| Total changes in deferred revenue | 132 | 56 | 16 |
| Ending Balance | 1,243 | 1,111 | 1,055 |
| Deferred revenue - current | 1,243 | 1,109 | 1,053 |
| Deferred revenue - non-current | 0 | 2 | 2 |
| MIS | |||
| Change in Contract with Customer, Liability [Abstract] | |||
| Beginning Balance | 270 | 278 | 296 |
| Revenue recognized that was included in the deferred revenue balance at the beginning of the period | (209) | (211) | (210) |
| Increases due to amounts billable excluding amounts recognized as revenue during the period | 211 | 200 | 202 |
| Increases due to acquisitions during the period | 0 | 0 | |
| Effect of exchange rate changes | (4) | 3 | (10) |
| Total changes in deferred revenue | (2) | (8) | (18) |
| Ending Balance | 268 | 270 | 278 |
| Deferred revenue - current | 211 | 207 | 205 |
| Deferred revenue - non-current | $ 57 | $ 63 | $ 73 |
Revenues - Expected Recognition Period for Remaining Performance Obligations (Detail) $ in Millions |
Dec. 31, 2024
USD ($)
|
|---|---|
| MA | |
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
| Revenue, remaining performance obligation, amount | $ 4,400 |
| MA | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
| Revenue, remaining performance obligation, percentage | 55.00% |
| Revenue, remaining performance obligation, period | 1 year |
| MA | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | |
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
| Revenue, remaining performance obligation, percentage | 25.00% |
| MA | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | Minimum | |
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
| Revenue, remaining performance obligation, period | 1 year |
| MA | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | Maximum | |
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
| Revenue, remaining performance obligation, period | 2 years |
| MIS | |
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
| Revenue, remaining performance obligation, amount | $ 102 |
| MIS | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
| Revenue, remaining performance obligation, percentage | 25.00% |
| Revenue, remaining performance obligation, period | 1 year |
| MIS | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | Minimum | |
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
| Revenue, remaining performance obligation, period | 1 year |
| MIS | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | Maximum | |
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
| Revenue, remaining performance obligation, period | 5 years |
| MIS | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | |
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
| Revenue, remaining performance obligation, percentage | 50.00% |
Revenues - Costs to Fulfill a Contract with a Customer (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Capitalized Costs To Fulfill Sales Contracts | Selling, General and Administrative Expenses | |||
| Disaggregation of Revenue [Line Items] | |||
| Deferred cost balance | $ 51 | $ 44 | |
| Capitalized Costs To Fulfill Sales Contracts | Operating Expense | |||
| Disaggregation of Revenue [Line Items] | |||
| Capitalized contract cost, amortization | 120 | 114 | $ 123 |
| MA | Capitalized Costs To Obtain Sales Contracts | |||
| Disaggregation of Revenue [Line Items] | |||
| Deferred cost balance | 294 | 268 | |
| MA | Capitalized Costs To Obtain Sales Contracts | Selling, General and Administrative Expenses | |||
| Disaggregation of Revenue [Line Items] | |||
| Capitalized contract cost, amortization | 110 | 102 | 80 |
| MA | Capitalized Costs To Fulfill Sales Contracts | Selling, General and Administrative Expenses | |||
| Disaggregation of Revenue [Line Items] | |||
| Deferred cost balance | 39 | 35 | |
| MA | Royalty Cost | Operating Expense | |||
| Disaggregation of Revenue [Line Items] | |||
| Capitalized contract cost, amortization | 77 | 70 | 69 |
| MIS | Capitalized Costs To Fulfill Sales Contracts | Selling, General and Administrative Expenses | |||
| Disaggregation of Revenue [Line Items] | |||
| Deferred cost balance | 12 | 9 | |
| MIS | Capitalization of Work-In-Process for In-Progress Ratings | Operating Expense | |||
| Disaggregation of Revenue [Line Items] | |||
| Capitalized contract cost, amortization | $ 43 | $ 44 | $ 54 |
Reconciliation of Weighted Average Shares Outstanding - Reconciliation of Basic to Diluted Shares Outstanding (Detail) - shares shares in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Earnings Per Share [Abstract] | |||
| Basic (in shares) | 181.8 | 183.2 | 183.9 |
| Dilutive effect of shares issuable under stock-based compensation plans (in shares) | 0.9 | 0.8 | 0.8 |
| Diluted (in shares) | 182.7 | 184.0 | 184.7 |
| Anti-dilutive options to purchase common shares and restricted stock as well as contingently issuable restricted stock which are excluded from the table above (in shares) | 0.4 | 0.5 | 0.5 |
Cash Equivalents and Investments (Detail) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Cash and Cash Equivalents [Line Items] | ||
| Cash and cash equivalents | $ 2,408 | $ 2,130 |
| Short-term investments | 566 | 63 |
| Other assets | 1,166 | 1,138 |
| Certificates of deposit and money market deposit accounts/funds | ||
| Cash and Cash Equivalents [Line Items] | ||
| Cost | 1,911 | 1,178 |
| Gross Unrealized Gains | 0 | 0 |
| Fair Value | 1,911 | 1,178 |
| Cash and cash equivalents | 1,345 | 1,112 |
| Short-term investments | 566 | 63 |
| Other assets | 0 | 3 |
| Mutual funds | ||
| Cash and Cash Equivalents [Line Items] | ||
| Cost | 88 | 91 |
| Gross Unrealized Gains | 10 | 6 |
| Fair Value | 98 | 97 |
| Cash and cash equivalents | 0 | 0 |
| Short-term investments | 0 | 0 |
| Other assets | $ 98 | $ 97 |
Cash Equivalents and Investments - Footnote (Detail) - Certificates of deposit and money market deposit accounts/funds |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Short-term Investments | Minimum | ||
| Cash and Cash Equivalents [Line Items] | ||
| Securities maturity period | 1 month | 1 month |
| Short-term Investments | Maximum | ||
| Cash and Cash Equivalents [Line Items] | ||
| Securities maturity period | 12 months | 12 months |
| Other assets | ||
| Cash and Cash Equivalents [Line Items] | ||
| Securities maturity period | 14 months | |
| Cash and cash equivalent | Maximum | ||
| Cash and Cash Equivalents [Line Items] | ||
| Securities maturity period | 90 days |
Cash Equivalents and Investments - Narrative (Details) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Cash and Cash Equivalents [Abstract] | ||
| Company owned life insurance (at contract value) | $ 48 | $ 47 |
Derivative Instruments And Hedging Activities - Schedule of Interest Rate Swap (Details) - Fair Value Hedging - Interest Rate Swap - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Derivative [Line Items] | ||
| Notional Amount | $ 2,550 | $ 2,550 |
| 2014 Senior Notes due 2044 | ||
| Derivative [Line Items] | ||
| Notional Amount | $ 300 | $ 300 |
| Floating Interest Rate | SOFR | SOFR |
| 2017 Senior Notes due 2028 | ||
| Derivative [Line Items] | ||
| Notional Amount | $ 500 | $ 500 |
| Floating Interest Rate | SOFR | SOFR |
| 2018 Senior Notes due 2029 | ||
| Derivative [Line Items] | ||
| Notional Amount | $ 400 | $ 400 |
| Floating Interest Rate | SOFR | SOFR |
| 2018 Senior Notes due 2048 | ||
| Derivative [Line Items] | ||
| Notional Amount | $ 300 | $ 300 |
| Floating Interest Rate | SOFR | SOFR |
| 2020 Senior Notes due 2025 | ||
| Derivative [Line Items] | ||
| Notional Amount | $ 300 | $ 300 |
| Floating Interest Rate | SOFR | SOFR |
| 2022 Senior Notes due 2052 | ||
| Derivative [Line Items] | ||
| Notional Amount | $ 500 | $ 500 |
| Floating Interest Rate | SOFR | SOFR |
| 2022 Senior Notes due 2032 | ||
| Derivative [Line Items] | ||
| Notional Amount | $ 250 | $ 250 |
| Floating Interest Rate | SOFR | SOFR |
Derivative Instruments And Hedging Activities - Summary of Net Gain (Loss) on Interest Rate Swaps Designated in Fair Value Hedge (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Derivative Instruments, Gain (Loss) [Line Items] | |||
| Interest expense, net | $ (237) | $ (251) | $ (231) |
| Derivative, gain (loss), statement of income or comprehensive income | Interest expense, net | Interest expense, net | Interest expense, net |
| Designated as Hedging Instrument | Interest Rate Swap | |||
| Derivative Instruments, Gain (Loss) [Line Items] | |||
| Fair value changes on interest rate swaps | $ 14 | $ 56 | $ (228) |
| Fair value changes on hedged debt | (14) | (56) | 228 |
| Designated as Hedging Instrument | Interest Rate Swap | Fair Value hedge Net Interest Settlements and Accruals | |||
| Derivative Instruments, Gain (Loss) [Line Items] | |||
| Net interest settlements and accruals on interest rate swaps | $ (96) | $ (89) | $ (8) |
Derivative Instruments And Hedging Activities - Additional Information (Detail) $ in Millions |
Dec. 31, 2024
USD ($)
|
Dec. 31, 2024
EUR (€)
|
Dec. 31, 2023
USD ($)
|
|---|---|---|---|
| Not Designated as Accounting Hedges | Total Return Swap | |||
| Derivative [Line Items] | |||
| Notional Amount | $ | $ 66 | $ 58 | |
| Net Investment Hedging | Designated as Hedging Instrument | Currency Swap | |||
| Derivative [Line Items] | |||
| Notional Amount | $ 3,264 | € 3,103,000,000 | |
| 2015 Senior Notes, due 2027 | Net Investment Hedging | Designated as Hedging Instrument | Currency Swap | |||
| Derivative [Line Items] | |||
| Notional Amount | 500,000,000 | ||
| 0.950% 2019 Senior Note, due 2030 | Net Investment Hedging | Designated as Hedging Instrument | Currency Swap | |||
| Derivative [Line Items] | |||
| Notional Amount | € 750,000,000 |
Derivative Instruments And Hedging Activities - Summary of Notional Amounts of Outstanding Cross Currency Swap (Detail) - Currency Swap - Net Investment Hedging € in Millions, $ in Millions |
12 Months Ended | |||
|---|---|---|---|---|
|
Dec. 31, 2024
USD ($)
|
Dec. 31, 2023
USD ($)
|
Dec. 31, 2024
EUR (€)
|
Dec. 31, 2023
EUR (€)
|
|
| Currency Paid | ||||
| Derivative [Line Items] | ||||
| Notional Amount | € | € 3,103 | € 2,903 | ||
| Currency Paid | Fixed Pay Weighted Average Interest Rate | ||||
| Derivative [Line Items] | ||||
| Notional Amount | € | € 965 | € 765 | ||
| Weighted Average Interest Rate | 2.91% | 3.67% | 2.91% | 3.67% |
| Currency Paid | Euro Short-Term Rate | ||||
| Derivative [Line Items] | ||||
| Notional Amount | € | € 2,138 | € 2,138 | ||
| Floating Interest Rate | Based on ESTR | Based on ESTR | ||
| Currency Received | ||||
| Derivative [Line Items] | ||||
| Notional Amount | $ | $ 3,264 | $ 3,050 | ||
| Currency Received | Fixed Received Weighted Average Interest Rate | ||||
| Derivative [Line Items] | ||||
| Notional Amount | $ | $ 1,014 | $ 800 | ||
| Weighted Average Interest Rate | 4.41% | 5.25% | 4.41% | 5.25% |
| Currency Received | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | ||||
| Derivative [Line Items] | ||||
| Notional Amount | $ | $ 2,250 | $ 2,250 | ||
| Floating Interest Rate | Based on SOFR | Based on SOFR | ||
Derivative Instruments And Hedging Activities - Schedule of Notional Amount of Net Investment Hedges (Detail) - Dec. 31, 2024 - Designated as Hedging Instrument - Currency Swap € in Millions, $ in Millions |
USD ($) |
EUR (€) |
|---|---|---|
| 2026 | ||
| Derivative [Line Items] | ||
| Notional Amount | $ 500 | € 450 |
| 2027 | ||
| Derivative [Line Items] | ||
| Notional Amount | 550 | 531 |
| 2028 | ||
| Derivative [Line Items] | ||
| Notional Amount | 600 | 588 |
| 2029 | ||
| Derivative [Line Items] | ||
| Notional Amount | 614 | 573 |
| 2031 | ||
| Derivative [Line Items] | ||
| Notional Amount | 500 | 481 |
| 2032 | ||
| Derivative [Line Items] | ||
| Notional Amount | 500 | 480 |
| Net Investment Hedging | ||
| Derivative [Line Items] | ||
| Notional Amount | $ 3,264 | € 3,103 |
Derivative Instruments And Hedging Activities - Gains (Losses) Recognized in AOCI and Reclassified from AOCI on Derivatives (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Derivative Instruments, Gain (Loss) [Line Items] | |||
| Total, amount of gain/loss) recognized in AOCI on derivative, net of tax | $ 222 | $ (132) | $ 164 |
| Cash flow hedging relationships, amount of gain/(loss) reclassified from AOCI into income, net of tax | (2) | (1) | (2) |
| Total, amount of gain/loss) reclassified from AOCI into income, net of tax | (2) | (1) | (2) |
| Gain (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) | 47 | 54 | 56 |
| Net Investment Hedging | |||
| Derivative Instruments, Gain (Loss) [Line Items] | |||
| Net investment hedging relationships, amount of gain/(loss) recognized in AOCI on derivative, net of tax | 222 | (132) | 164 |
| Net investment hedging relationships, amount of gain/(loss) reclassified from AOCI into income, net of tax | 0 | 0 | 0 |
| Gain (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) | 47 | 54 | 56 |
| Cash Flow Hedging | |||
| Derivative Instruments, Gain (Loss) [Line Items] | |||
| Cash flow hedging relationships, amount of gain/(loss) recognized in AOCI on derivative, net of tax | 0 | 0 | 0 |
| Cash flow hedging relationships, amount of gain/(loss) reclassified from AOCI into income, net of tax | (2) | (1) | (2) |
| Gain (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) | 0 | 0 | 0 |
| Currency Swap | Net Investment Hedging | |||
| Derivative Instruments, Gain (Loss) [Line Items] | |||
| Net investment hedging relationships, amount of gain/(loss) recognized in AOCI on derivative, net of tax | 157 | (97) | 99 |
| Net investment hedging relationships, amount of gain/(loss) reclassified from AOCI into income, net of tax | 0 | 0 | 0 |
| Gain (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) | 47 | 54 | 56 |
| Currency Swap | Cash Flow Hedging | |||
| Derivative Instruments, Gain (Loss) [Line Items] | |||
| Cash flow hedging relationships, amount of gain/(loss) recognized in AOCI on derivative, net of tax | 0 | 0 | 0 |
| Cash flow hedging relationships, amount of gain/(loss) reclassified from AOCI into income, net of tax | 0 | 1 | 0 |
| Gain (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) | 0 | 0 | 0 |
| Long-term debt | Net Investment Hedging | |||
| Derivative Instruments, Gain (Loss) [Line Items] | |||
| Net investment hedging relationships, amount of gain/(loss) recognized in AOCI on derivative, net of tax | 65 | (35) | 65 |
| Net investment hedging relationships, amount of gain/(loss) reclassified from AOCI into income, net of tax | 0 | 0 | 0 |
| Gain (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) | 0 | 0 | 0 |
| Interest Rate Contract [Member] | Cash Flow Hedging | |||
| Derivative Instruments, Gain (Loss) [Line Items] | |||
| Cash flow hedging relationships, amount of gain/(loss) recognized in AOCI on derivative, net of tax | 0 | 0 | 0 |
| Cash flow hedging relationships, amount of gain/(loss) reclassified from AOCI into income, net of tax | (2) | (2) | (2) |
| Gain (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) | $ 0 | $ 0 | $ 0 |
Derivative Instruments And Hedging Activities - Cumulative Amount of Unrecognized Hedge Losses Recorded in AOCI (Detail) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Derivative [Line Items] | ||
| Cumulative Gains (Losses), net of tax | $ (638) | $ (567) |
| Designated as Hedging Instrument | ||
| Derivative [Line Items] | ||
| Cumulative Gains (Losses), net of tax | 233 | 9 |
| Net Investment Hedging | Designated as Hedging Instrument | ||
| Derivative [Line Items] | ||
| Cumulative Gains (Losses), net of tax | 275 | 53 |
| Net Investment Hedging | Currency Swap | Designated as Hedging Instrument | ||
| Derivative [Line Items] | ||
| Cumulative Gains (Losses), net of tax | 178 | 21 |
| Net Investment Hedging | Foreign Exchange Forward | Designated as Hedging Instrument | ||
| Derivative [Line Items] | ||
| Cumulative Gains (Losses), net of tax | 29 | 29 |
| Net Investment Hedging | Long-term debt | Designated as Hedging Instrument | ||
| Derivative [Line Items] | ||
| Cumulative Gains (Losses), net of tax | 68 | 3 |
| Cash Flow Hedging | Designated as Hedging Instrument | ||
| Derivative [Line Items] | ||
| Cumulative Gains (Losses), net of tax | (42) | (44) |
| Cash Flow Hedging | Currency Swap | Designated as Hedging Instrument | ||
| Derivative [Line Items] | ||
| Cumulative Gains (Losses), net of tax | 1 | 1 |
| Cash Flow Hedging | Interest Rate Contract [Member] | Designated as Hedging Instrument | ||
| Derivative [Line Items] | ||
| Cumulative Gains (Losses), net of tax | $ (43) | $ (45) |
Derivative Instruments And Hedging Activities - Summary of Notional Amounts of Outstanding Foreign Exchange Forwards (Detail) - Not Designated as Accounting Hedges € in Millions, ₨ in Millions, ¥ in Millions, £ in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions |
Dec. 31, 2024
USD ($)
|
Dec. 31, 2024
EUR (€)
|
Dec. 31, 2024
GBP (£)
|
Dec. 31, 2024
JPY (¥)
|
Dec. 31, 2024
CAD ($)
|
Dec. 31, 2024
SGD ($)
|
Dec. 31, 2024
INR (₨)
|
Dec. 31, 2024
AUD ($)
|
Dec. 31, 2023
USD ($)
|
Dec. 31, 2023
EUR (€)
|
Dec. 31, 2023
GBP (£)
|
Dec. 31, 2023
JPY (¥)
|
Dec. 31, 2023
CAD ($)
|
Dec. 31, 2023
SGD ($)
|
Dec. 31, 2023
INR (₨)
|
Dec. 31, 2023
AUD ($)
|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Contracts to sell USD for GBP | ||||||||||||||||
| Derivative [Line Items] | ||||||||||||||||
| Notional Amount | $ 604 | £ 470 | $ 513 | £ 407 | ||||||||||||
| Contracts to sell USD for JPY | ||||||||||||||||
| Derivative [Line Items] | ||||||||||||||||
| Notional Amount | 29 | ¥ 4,000 | 14 | ¥ 2,000 | ||||||||||||
| Contracts to sell USD for CAD | ||||||||||||||||
| Derivative [Line Items] | ||||||||||||||||
| Notional Amount | 35 | $ 50 | 147 | $ 200 | ||||||||||||
| Contracts to sell USD for SGD | ||||||||||||||||
| Derivative [Line Items] | ||||||||||||||||
| Notional Amount | 45 | $ 59 | 50 | $ 67 | ||||||||||||
| Contracts to sell USD for EUR | ||||||||||||||||
| Derivative [Line Items] | ||||||||||||||||
| Notional Amount | 0 | € 0 | 60 | € 55 | ||||||||||||
| Contracts to sell USD for INR | ||||||||||||||||
| Derivative [Line Items] | ||||||||||||||||
| Notional Amount | 23 | ₨ 1,900 | 23 | ₨ 1,900 | ||||||||||||
| Contracts to sell EUR for USD | ||||||||||||||||
| Derivative [Line Items] | ||||||||||||||||
| Notional Amount | 12 | € 12 | 0 | € 0 | ||||||||||||
| Contracts to sell USD for AUD | ||||||||||||||||
| Derivative [Line Items] | ||||||||||||||||
| Notional Amount | 0 | $ 0 | 5 | $ 8 | ||||||||||||
| Contracts to sell CAD for USD | ||||||||||||||||
| Derivative [Line Items] | ||||||||||||||||
| Notional Amount | $ 0 | $ 0 | $ 19 | $ 25 |
Derivative Instruments And Hedging Activities - Summary of Net Gain (Loss) on Foreign Exchange Forwards Not Designated as Hedging Instruments (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Foreign Exchange Forward | Other Nonoperating Income (Expense) | |||
| Derivative Instruments, Gain (Loss) [Line Items] | |||
| Foreign exchange forwards amount of gain (loss) recognized in income | $ (24) | $ 15 | $ (72) |
| Foreign Exchange Forward | Other Nonoperating Income (Expense) | RMS | |||
| Derivative Instruments, Gain (Loss) [Line Items] | |||
| Foreign exchange forwards amount of gain (loss) recognized in income | 5 | 2 | 0 |
| Total Return Swap | Operating Expense | |||
| Derivative Instruments, Gain (Loss) [Line Items] | |||
| Foreign exchange forwards amount of gain (loss) recognized in income | 5 | 2 | 0 |
| Total Return Swap | Selling, General and Administrative Expenses | |||
| Derivative Instruments, Gain (Loss) [Line Items] | |||
| Foreign exchange forwards amount of gain (loss) recognized in income | $ 1 | $ 1 | $ 0 |
Derivative Instruments And Hedging Activities - Fair Value of Derivative Instruments (Detail) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Derivatives, Fair Value [Line Items] | ||
| Assets | $ 58 | $ 16 |
| Liabilities | $ 1,510 | $ 1,747 |
| Derivative asset, statement of financial position | Other current assets, Other assets | Other current assets, Other assets |
| Derivative liability, statement of financial position | Accounts payable and accrued liabilities, Other liabilities | Accounts payable and accrued liabilities, Other liabilities |
| Designated as Hedging Instrument | ||
| Derivatives, Fair Value [Line Items] | ||
| Assets | $ 58 | $ 3 |
| Liabilities | 195 | 366 |
| Designated as Hedging Instrument | Long-term debt | Net Investment Hedging | ||
| Derivatives, Fair Value [Line Items] | ||
| Liabilities | 1,294 | 1,381 |
| Designated as Hedging Instrument | Currency Swap | Other assets | Net Investment Hedging | ||
| Derivatives, Fair Value [Line Items] | ||
| Assets | 58 | 3 |
| Designated as Hedging Instrument | Currency Swap | Accounts payable and accrued liabilities | Net Investment Hedging | ||
| Derivatives, Fair Value [Line Items] | ||
| Liabilities | 3 | 0 |
| Designated as Hedging Instrument | Currency Swap | Other liabilities | Net Investment Hedging | ||
| Derivatives, Fair Value [Line Items] | ||
| Liabilities | 26 | 183 |
| Designated as Hedging Instrument | Interest Rate Swap | Other liabilities | Fair Value Hedging | ||
| Derivatives, Fair Value [Line Items] | ||
| Liabilities | 166 | 183 |
| Not Designated as Accounting Hedges | Foreign Exchange Forward | Other current assets | ||
| Derivatives, Fair Value [Line Items] | ||
| Assets | 0 | 13 |
| Not Designated as Accounting Hedges | Foreign Exchange Forward | Accounts payable and accrued liabilities | ||
| Derivatives, Fair Value [Line Items] | ||
| Liabilities | $ 21 | $ 0 |
Property and Equipment, Net (Detail) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Property, Plant and Equipment [Line Items] | ||
| Total property and equipment, at cost | $ 2,109 | $ 1,875 |
| Less: accumulated depreciation and amortization | (1,453) | (1,272) |
| Total property and equipment, net | 656 | 603 |
| Office and Computer Equipment | ||
| Property, Plant and Equipment [Line Items] | ||
| Total property and equipment, at cost | $ 400 | 354 |
| Office and Computer Equipment | Minimum | ||
| Property, Plant and Equipment [Line Items] | ||
| Property plant and equipment useful life | 3 years | |
| Office and Computer Equipment | Maximum | ||
| Property, Plant and Equipment [Line Items] | ||
| Property plant and equipment useful life | 10 years | |
| Office Furniture and Fixtures | ||
| Property, Plant and Equipment [Line Items] | ||
| Total property and equipment, at cost | $ 57 | 57 |
| Office Furniture and Fixtures | Minimum | ||
| Property, Plant and Equipment [Line Items] | ||
| Property plant and equipment useful life | 3 years | |
| Office Furniture and Fixtures | Maximum | ||
| Property, Plant and Equipment [Line Items] | ||
| Property plant and equipment useful life | 10 years | |
| Internal-use Computer Software | ||
| Property, Plant and Equipment [Line Items] | ||
| Total property and equipment, at cost | $ 1,417 | 1,232 |
| Internal-use Computer Software | Minimum | ||
| Property, Plant and Equipment [Line Items] | ||
| Property plant and equipment useful life | 1 year | |
| Internal-use Computer Software | Maximum | ||
| Property, Plant and Equipment [Line Items] | ||
| Property plant and equipment useful life | 10 years | |
| Leasehold Improvements and Building | ||
| Property, Plant and Equipment [Line Items] | ||
| Total property and equipment, at cost | $ 235 | $ 232 |
| Leasehold Improvements and Building | Minimum | ||
| Property, Plant and Equipment [Line Items] | ||
| Property plant and equipment useful life | 1 year | |
| Leasehold Improvements and Building | Maximum | ||
| Property, Plant and Equipment [Line Items] | ||
| Property plant and equipment useful life | 20 years |
Property and Equipment, Net - Additional Information (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Property, Plant and Equipment [Line Items] | |||
| Depreciation and amortization expense related to property and equipment | $ 233 | $ 175 | $ 131 |
| Charges related to asset abandonment | 43 | 0 | 0 |
| Accelerated Amortization Charges | |||
| Property, Plant and Equipment [Line Items] | |||
| Charges related to asset abandonment | 31 | ||
| Internal-use Computer Software | |||
| Property, Plant and Equipment [Line Items] | |||
| Depreciation and amortization expense related to property and equipment | 180 | $ 121 | $ 79 |
| Internal-use Computer Software | Accelerated Amortization Charges | |||
| Property, Plant and Equipment [Line Items] | |||
| Charges related to asset abandonment | $ 26 | ||
| Internal-use Computer Software | Weighted Average | |||
| Property, Plant and Equipment [Line Items] | |||
| Property plant and equipment useful life | 4 years 4 months 24 days | ||
Goodwill And Other Acquired Intangible Assets - Activity in Goodwill (Detail) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Goodwill [Roll Forward] | ||
| Beginning balance, goodwill gross | $ 5,968 | $ 5,851 |
| Beginning balance, accumulated impairment charge | (12) | (12) |
| Beginning balance, goodwill net | 5,956 | 5,839 |
| Additions/adjustments | 209 | 3 |
| Foreign currency translation adjustments | (171) | 114 |
| Ending balance, goodwill gross | 6,006 | 5,968 |
| Ending balance, accumulated impairment charge | (12) | (12) |
| Ending balance, goodwill net | 5,994 | 5,956 |
| MA | ||
| Goodwill [Roll Forward] | ||
| Beginning balance, goodwill gross | 5,681 | 5,474 |
| Beginning balance, accumulated impairment charge | (12) | (12) |
| Beginning balance, goodwill net | 5,669 | 5,462 |
| Additions/adjustments | 112 | 90 |
| Foreign currency translation adjustments | (167) | 117 |
| Ending balance, goodwill gross | 5,626 | 5,681 |
| Ending balance, accumulated impairment charge | (12) | (12) |
| Ending balance, goodwill net | 5,614 | 5,669 |
| MIS | ||
| Goodwill [Roll Forward] | ||
| Beginning balance, goodwill gross | 287 | 377 |
| Beginning balance, accumulated impairment charge | 0 | 0 |
| Beginning balance, goodwill net | 287 | 377 |
| Additions/adjustments | 97 | (87) |
| Foreign currency translation adjustments | (4) | (3) |
| Ending balance, goodwill gross | 380 | 287 |
| Ending balance, accumulated impairment charge | 0 | 0 |
| Ending balance, goodwill net | $ 380 | $ 287 |
Goodwill And Other Acquired Intangible Assets - Acquired Intangible Assets and Related Amortization (Detail) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Finite-Lived Intangible Assets [Line Items] | ||
| Acquired intangible assets, net | $ 1,890 | $ 2,049 |
| Customer relationships | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| Acquired intangible assets, gross | 2,035 | 2,065 |
| Accumulated amortization | (631) | (556) |
| Acquired intangible assets, net | 1,404 | 1,509 |
| Software/product technology | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| Acquired intangible assets, gross | 695 | 674 |
| Accumulated amortization | (419) | (364) |
| Acquired intangible assets, net | 276 | 310 |
| Database | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| Acquired intangible assets, gross | 166 | 179 |
| Accumulated amortization | (89) | (82) |
| Acquired intangible assets, net | 77 | 97 |
| Trade names | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| Acquired intangible assets, gross | 199 | 199 |
| Accumulated amortization | (83) | (72) |
| Acquired intangible assets, net | 116 | 127 |
| Other | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| Acquired intangible assets, gross | 67 | 52 |
| Accumulated amortization | (50) | (46) |
| Acquired intangible assets, net | $ 17 | $ 6 |
Goodwill And Other Acquired Intangible Assets - Amortization Expense Relating to Acquired Intangible Assets (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Finite-Lived Intangible Assets [Line Items] | |||
| Amortization expense | $ 198 | $ 198 | $ 200 |
| Charges related to asset abandonment | 43 | $ 0 | $ 0 |
| Accelerated Amortization Charges | |||
| Finite-Lived Intangible Assets [Line Items] | |||
| Charges related to asset abandonment | 31 | ||
| Accelerated Amortization Charges | Amortization of Intangible Assets | |||
| Finite-Lived Intangible Assets [Line Items] | |||
| Charges related to asset abandonment | $ 5 | ||
Goodwill And Other Acquired Intangible Assets - Estimated Future Amortization Expense for Acquired Intangible Assets Subject to Amortization (Detail) $ in Millions |
Dec. 31, 2024
USD ($)
|
|---|---|
| Goodwill and Intangible Assets Disclosure [Abstract] | |
| 2025 | $ 202 |
| 2026 | 196 |
| 2027 | 178 |
| 2028 | 166 |
| 2029 | 133 |
| Thereafter | 1,015 |
| Total estimated future amortization | $ 1,890 |
Restructuring - Additional Information (Detail) - USD ($) $ in Millions |
12 Months Ended | 36 Months Ended | ||||
|---|---|---|---|---|---|---|
Dec. 19, 2024 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2027 |
Dec. 31, 2021 |
|
| Restructuring Cost and Reserve [Line Items] | ||||||
| Remaining restructuring liability | $ 47 | $ 36 | $ 64 | $ 0 | ||
| Strategic and Operational Efficiency Restructuring Program | ||||||
| Restructuring Cost and Reserve [Line Items] | ||||||
| Payments for restructuring | 5 | 0 | 0 | |||
| Strategic and Operational Efficiency Restructuring Program | Minimum | Forecast | ||||||
| Restructuring Cost and Reserve [Line Items] | ||||||
| Payments for restructuring | $ 170 | |||||
| Strategic and Operational Efficiency Restructuring Program | Maximum | Forecast | ||||||
| Restructuring Cost and Reserve [Line Items] | ||||||
| Payments for restructuring | $ 200 | |||||
| Strategic and Operational Efficiency Restructuring Program | Employee Severance | Minimum | ||||||
| Restructuring Cost and Reserve [Line Items] | ||||||
| Restructuring and related cost, expected cost | 170 | |||||
| Strategic and Operational Efficiency Restructuring Program | Employee Severance | Maximum | ||||||
| Restructuring Cost and Reserve [Line Items] | ||||||
| Restructuring and related cost, expected cost | 200 | |||||
| Strategic and Operational Efficiency Restructuring Program | Real Estate | Minimum | ||||||
| Restructuring Cost and Reserve [Line Items] | ||||||
| Restructuring and related cost, expected cost | 10 | |||||
| Strategic and Operational Efficiency Restructuring Program | Real Estate | Maximum | ||||||
| Restructuring Cost and Reserve [Line Items] | ||||||
| Restructuring and related cost, expected cost | 20 | |||||
| Strategic and Operational Efficiency Restructuring Program | Accelerated Amortization Charges | Minimum | ||||||
| Restructuring Cost and Reserve [Line Items] | ||||||
| Restructuring and related cost, expected cost | 20 | |||||
| Strategic and Operational Efficiency Restructuring Program | Accelerated Amortization Charges | Maximum | ||||||
| Restructuring Cost and Reserve [Line Items] | ||||||
| Restructuring and related cost, expected cost | 30 | |||||
| 2022 - 2023 Geolocation Restructuring Program | ||||||
| Restructuring Cost and Reserve [Line Items] | ||||||
| Payments for restructuring | $ 42 | $ 79 | $ 22 | |||
| Estimated Annual Savings | Strategic and Operational Efficiency Restructuring Program | Minimum | ||||||
| Restructuring Cost and Reserve [Line Items] | ||||||
| Effect on future earnings, amount | $ 250 | |||||
| Estimated Annual Savings | Strategic and Operational Efficiency Restructuring Program | Maximum | ||||||
| Restructuring Cost and Reserve [Line Items] | ||||||
| Effect on future earnings, amount | $ 300 | |||||
Restructuring - Restructuring Expenses Included in Consolidated Statements of Operations (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Restructuring Cost and Reserve [Line Items] | |||
| Restructuring | $ 59 | $ 87 | $ 114 |
| Operating lease right-of-use assets | 216 | 277 | |
| Real Estate | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Operating lease right-of-use assets | 4 | 0 | |
| 2022 - 2023 Geolocation Restructuring Program | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Restructuring | 14 | 87 | 113 |
| Cumulative expense incurred | 214 | ||
| 2022 - 2023 Geolocation Restructuring Program | Employee Severance | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Restructuring | 14 | 51 | 85 |
| Cumulative expense incurred | 150 | ||
| 2022 - 2023 Geolocation Restructuring Program | Real Estate | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Restructuring | 0 | 36 | 27 |
| Cumulative expense incurred | 63 | ||
| 2022 - 2023 Geolocation Restructuring Program | Other Restructuring | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Restructuring | 0 | 0 | 1 |
| Cumulative expense incurred | 1 | ||
| Strategic and Operational Efficiency Restructuring Program | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Restructuring | 45 | 0 | 0 |
| Cumulative expense incurred | 45 | ||
| Strategic and Operational Efficiency Restructuring Program | Employee Severance | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Restructuring | 41 | 0 | 0 |
| Cumulative expense incurred | 41 | ||
| Strategic and Operational Efficiency Restructuring Program | Other Restructuring | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Restructuring | 4 | $ 0 | $ 0 |
| Cumulative expense incurred | $ 4 | ||
Restructuring - Restructuring Expenses Included in Consolidated Statements of Operations (Footnote) (Details) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|---|
| Restructuring Cost and Reserve [Line Items] | |||
| Operating lease right-of-use assets | $ 216 | $ 277 | |
| Real Estate | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Operating lease right-of-use assets | $ 4 | $ 0 |
Restructuring - Changes in Restructuring Liability (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Restructuring Reserve [Roll Forward] | |||
| Restructuring liability, beginning balance | $ 36 | $ 64 | $ 0 |
| Restructuring liability, ending balance | $ 47 | 36 | 64 |
| Restructuring, incurred cost, statement of income or comprehensive income | Restructuring Charges | ||
| 2022 - 2023 Geolocation Restructuring Program | |||
| Restructuring Reserve [Roll Forward] | |||
| Cost incurred and adjustments | $ 14 | 51 | 86 |
| Cash payments | (42) | (79) | (22) |
| Strategic and Operational Efficiency Restructuring Program | |||
| Restructuring Reserve [Roll Forward] | |||
| Cost incurred and adjustments | 44 | 0 | 0 |
| Cash payments | $ (5) | $ 0 | $ 0 |
Fair Value - Financial Instruments Carried at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Assets: | ||
| Derivatives | $ 58 | $ 16 |
| Total | 166 | 123 |
| Liabilities: | ||
| Derivatives | 216 | 366 |
| Total | 216 | 366 |
| Money market funds/mutual funds | ||
| Assets: | ||
| Money market funds/mutual funds | 108 | 107 |
| Level 1 | ||
| Assets: | ||
| Derivatives | 0 | 0 |
| Total | 108 | 107 |
| Liabilities: | ||
| Derivatives | 0 | 0 |
| Total | 0 | 0 |
| Level 1 | Money market funds/mutual funds | ||
| Assets: | ||
| Money market funds/mutual funds | 108 | 107 |
| Level 2 | ||
| Assets: | ||
| Derivatives | 58 | 16 |
| Total | 58 | 16 |
| Liabilities: | ||
| Derivatives | 216 | 366 |
| Total | 216 | 366 |
| Level 2 | Money market funds/mutual funds | ||
| Assets: | ||
| Money market funds/mutual funds | $ 0 | $ 0 |
Other Balance Sheet Information - Additional Details Related to Certain Balance Sheet Captions (Detail) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|---|
| Other current assets: | |||
| Prepaid taxes | $ 81 | $ 115 | |
| Prepaid expenses | 179 | 133 | |
| Capitalized costs to obtain and fulfill sales contracts | 131 | 116 | |
| Foreign exchange forwards on certain assets and liabilities | 0 | 13 | |
| Interest receivable on interest rate and cross currency swaps | 77 | 79 | |
| Other | 47 | 33 | |
| Total other current assets | 515 | 489 | |
| Other assets: | |||
| Investments in non-consolidated affiliates | 465 | 521 | |
| Deposits for real-estate leases | 15 | 16 | |
| Indemnification assets related to acquisitions | 109 | 111 | |
| Mutual funds, certificates of deposit and money market deposit accounts/funds | 98 | 100 | |
| Company owned life insurance (at contract value) | 48 | 47 | |
| Capitalized costs to obtain sales contracts | 214 | 196 | |
| Derivative instruments designated as accounting hedges | 58 | 3 | |
| Pension and other retirement employee benefits | 60 | 41 | |
| Other | 99 | 103 | |
| Total other assets | 1,166 | 1,138 | |
| Accounts payable and accrued liabilities: | |||
| Salaries and benefits | 133 | 130 | |
| Incentive compensation | 452 | 345 | |
| Customer credits, advanced payments and advanced billings | 142 | 105 | |
| Dividends | 32 | 7 | |
| Professional service fees | 38 | 46 | |
| Accounts payable | 53 | 23 | |
| Income taxes | 144 | 108 | |
| Pension and other retirement employee benefits | 11 | 15 | |
| Accrued royalties | 25 | 24 | |
| FX forwards on certain assets and liabilities | 21 | 0 | |
| Restructuring liability | 46 | 35 | |
| Derivative instruments designated as accounting hedges | 3 | 0 | |
| Other | 92 | 88 | |
| Total accounts payable and accrued liabilities | 1,344 | 1,076 | |
| Other liabilities: | |||
| Pension and other retirement employee benefits | 195 | 190 | |
| Interest accrued on UTPs | 47 | 36 | $ 47 |
| MAKS indemnification provisions | 19 | 19 | |
| Income tax liability – non-current portion | 12 | 15 | |
| Derivative instruments designated as accounting hedges | 192 | 366 | |
| Other | 52 | 50 | |
| Total other liabilities | 517 | 676 | |
| Debt | |||
| Accounts payable and accrued liabilities: | |||
| Interest accrued | 92 | 83 | |
| Swap | |||
| Accounts payable and accrued liabilities: | |||
| Interest accrued | $ 60 | $ 67 |
Other Balance Sheet Information - Investments in Non-Consolidated Affiliates (Details) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Equity Method Investments and Joint Ventures [Abstract] | ||
| Equity method investments | $ 127 | $ 186 |
| Investments measured using the measurement alternative | 328 | 327 |
| Other | 10 | 8 |
| Total investments in non-consolidated affiliates | $ 465 | $ 521 |
Comprehensive Income And Accumulated Other Comprehensive Income - Changes in Components of Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
| Beginning Balance | $ 3,476 | $ 2,689 | $ 2,916 |
| Ending Balance | 3,727 | 3,476 | 2,689 |
| Total | |||
| AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
| Beginning Balance | (567) | (643) | (410) |
| Other comprehensive income (loss) before reclassifications | (71) | 78 | (257) |
| Amounts reclassified from AOCL | 0 | (2) | 24 |
| Other comprehensive income (loss) | (71) | 76 | (233) |
| Ending Balance | (638) | (567) | (643) |
| Foreign Currency Translation Adjustments | |||
| AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
| Beginning Balance | (520) | (736) | (335) |
| Other comprehensive income (loss) before reclassifications | (312) | 216 | (421) |
| Amounts reclassified from AOCL | 0 | 0 | 20 |
| Other comprehensive income (loss) | (312) | 216 | (401) |
| Ending Balance | (832) | (520) | (736) |
| Gains (Losses) on Cash Flow Hedges | |||
| AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
| Beginning Balance | (44) | (45) | (47) |
| Other comprehensive income (loss) before reclassifications | 0 | 0 | 0 |
| Amounts reclassified from AOCL | 2 | 1 | 2 |
| Other comprehensive income (loss) | 2 | 1 | 2 |
| Ending Balance | (42) | (44) | (45) |
| Net Investment Hedges | |||
| AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
| Beginning Balance | 53 | 185 | 21 |
| Other comprehensive income (loss) before reclassifications | 222 | (132) | 164 |
| Amounts reclassified from AOCL | 0 | 0 | 0 |
| Other comprehensive income (loss) | 222 | (132) | 164 |
| Ending Balance | 275 | 53 | 185 |
| Pension and Other Retirement Benefits | |||
| AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
| Beginning Balance | (56) | (47) | (49) |
| Other comprehensive income (loss) before reclassifications | 19 | (6) | 0 |
| Amounts reclassified from AOCL | (2) | (3) | 2 |
| Other comprehensive income (loss) | 17 | (9) | 2 |
| Ending Balance | $ (39) | $ (56) | $ (47) |
Pension And Other Retirement Benefits - Summary of Changes in Benefit Obligations and Fair Value of Plan Assets for Post-Retirement Plans (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Change in benefit obligation: | |||
| Interest cost | $ (26) | $ (26) | $ (17) |
| Amounts recorded on the consolidated balance sheets: | |||
| Pension and retirement benefits asset – non current | 60 | 41 | |
| Pension and retirement benefits liability – current | (11) | (15) | |
| Pension and retirement benefits liability – non current | (195) | (190) | |
| U.S. | Pension Plans | |||
| Change in benefit obligation: | |||
| Benefit obligation, beginning of the period | (484) | (462) | |
| Service cost | (10) | (11) | (14) |
| Interest cost | (22) | (22) | (15) |
| Plan participants’ contributions | 0 | 0 | |
| Benefits paid | 24 | 30 | |
| Actuarial (loss) gain | 0 | (4) | |
| Assumption changes | 28 | (15) | |
| Benefit obligation, end of the period | (464) | (484) | (462) |
| Change in plan assets: | |||
| Fair value of plan assets, beginning of the period | 449 | 420 | |
| Actual return on plan assets | 24 | 48 | |
| Benefits paid | (24) | (30) | |
| Employer contributions | 11 | 11 | |
| Plan participants’ contributions | 0 | 0 | |
| Fair value of plan assets, end of the period | 460 | 449 | 420 |
| Funded status of the plans | (4) | (35) | |
| Amounts recorded on the consolidated balance sheets: | |||
| Pension and retirement benefits asset – non current | 60 | 40 | |
| Pension and retirement benefits liability – current | (8) | (13) | |
| Pension and retirement benefits liability – non current | (56) | (62) | |
| Net amount recognized | (4) | (35) | |
| Accumulated benefit obligation, end of the period | (436) | (453) | |
| U.S. | Other Retirement Plans | |||
| Change in benefit obligation: | |||
| Benefit obligation, beginning of the period | (42) | (39) | |
| Service cost | (3) | (3) | (4) |
| Interest cost | (2) | (2) | (1) |
| Plan participants’ contributions | (2) | (1) | |
| Benefits paid | 3 | 2 | |
| Actuarial (loss) gain | 0 | 2 | |
| Assumption changes | 4 | (1) | |
| Benefit obligation, end of the period | (42) | (42) | (39) |
| Change in plan assets: | |||
| Fair value of plan assets, beginning of the period | 0 | 0 | |
| Actual return on plan assets | 0 | 0 | |
| Benefits paid | (3) | (2) | |
| Employer contributions | 1 | 1 | |
| Plan participants’ contributions | 2 | 1 | |
| Fair value of plan assets, end of the period | 0 | 0 | $ 0 |
| Funded status of the plans | (42) | (42) | |
| Amounts recorded on the consolidated balance sheets: | |||
| Pension and retirement benefits asset – non current | 0 | 0 | |
| Pension and retirement benefits liability – current | (2) | (2) | |
| Pension and retirement benefits liability – non current | (40) | (40) | |
| Net amount recognized | $ (42) | $ (42) | |
Pension And Other Retirement Benefits - Accumulated Benefit Obligation in Excess of Plan Assets (Detail) - Pension Plans - U.S. Plans - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Defined Benefit Plan Disclosure [Line Items] | ||
| Aggregate projected benefit obligation | $ 65 | $ 75 |
| Aggregate accumulated benefit obligation | $ 57 | $ 67 |
Pension And Other Retirement Benefits - Summary of Pre-Tax Net Actuarial Losses and Prior Service Cost Recognized in Accumulated Other Comprehensive Income (Loss) (Detail) - U.S. Plans - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Pension Plans | ||
| Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||
| Net actuarial gains (losses) | $ (61) | $ (82) |
| Net prior service credits | 1 | 1 |
| Total recognized in AOCL – pre-tax | (60) | (81) |
| Other Retirement Plans | ||
| Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||
| Net actuarial gains (losses) | 13 | 10 |
| Net prior service credits | 0 | 0 |
| Total recognized in AOCL – pre-tax | $ 13 | $ 10 |
Pension And Other Retirement Benefits - Components of Net Periodic Benefit Expense Related to Retirement Plans (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Defined Benefit Plan Disclosure [Line Items] | |||
| Interest cost | $ 26 | $ 26 | $ 17 |
| U.S. Plans | Pension Plans | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Service cost | 10 | 11 | 14 |
| Interest cost | 22 | 22 | 15 |
| Expected return on plan assets | (30) | (32) | (26) |
| Amortization of net actuarial (gains) losses and prior service credits from earlier periods | 0 | (1) | 3 |
| Loss on settlement of pension obligation | (1) | (2) | 0 |
| Net periodic expense (income) | 1 | (2) | 6 |
| U.S. Plans | Other Retirement Plans | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Service cost | 3 | 3 | 4 |
| Interest cost | 2 | 2 | 1 |
| Expected return on plan assets | 0 | 0 | 0 |
| Amortization of net actuarial (gains) losses and prior service credits from earlier periods | (1) | (1) | 0 |
| Loss on settlement of pension obligation | 0 | 0 | 0 |
| Net periodic expense (income) | $ 4 | $ 4 | $ 5 |
Pension And Other Retirement Benefits - Summary Of Pre Tax Amounts Recognized In Other Comprehensive Income (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Defined Benefit Plan Disclosure [Line Items] | |||
| Net actuarial gain (loss) arising during the period | $ 25 | $ (8) | $ (1) |
| U.S. Plans | Pension Plans | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Amortization of net actuarial (gains) losses and prior service credit | (1) | (1) | 3 |
| (Gain) loss on settlement of pension obligations | (1) | (2) | 0 |
| Net actuarial gain (loss) arising during the period | 22 | (3) | (19) |
| Total recognized in OCI – pre-tax | 20 | (6) | (16) |
| U.S. Plans | Other Retirement Plans | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Amortization of net actuarial (gains) losses and prior service credit | (1) | (1) | 0 |
| (Gain) loss on settlement of pension obligations | 0 | 0 | 0 |
| Net actuarial gain (loss) arising during the period | 4 | 1 | 13 |
| Total recognized in OCI – pre-tax | $ 3 | $ 0 | $ 13 |
Pension And Other Retirement Benefits - Weighted-Average Assumptions Used to Determine Benefit Obligations (Detail) - U.S. Plans |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Pension Plans | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Discount rate | 5.43% | 4.73% |
| Rate of compensation increase | 3.60% | 3.60% |
| Cash balance plan interest crediting rate | 4.78% | 4.50% |
| Other Retirement Plans | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Discount rate | 5.40% | 4.75% |
| Rate of compensation increase | 0.00% | 0.00% |
| Cash balance plan interest crediting rate | 0.00% | 0.00% |
Pension And Other Retirement Benefits - Weighted-Average Assumptions Used to Determine Net Periodic Benefit Expense (Detail) - U.S. Plans |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Pension Plans | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Discount rate | 4.73% | 4.93% | 2.60% |
| Expected return on plan assets | 6.10% | 6.55% | 5.05% |
| Rate of compensation increase | 3.60% | 3.63% | 3.63% |
| Cash balance plan interest crediting rate | 4.50% | 4.50% | 4.50% |
| Other Retirement Plans | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Discount rate | 4.75% | 4.90% | 2.65% |
| Expected return on plan assets | 0.00% | 0.00% | 0.00% |
| Rate of compensation increase | 0.00% | 0.00% | 0.00% |
| Cash balance plan interest crediting rate | 0.00% | 0.00% | 0.00% |
Pension and Other Retirement Benefits - Additional Information (Detail) - USD ($) $ in Millions |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract] | ||||
| Moody's shares held in ESOP | 304,076 | 315,400 | ||
| U.S. Plans | ||||
| Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract] | ||||
| Employee contribution percentage of employee contribution in participation | 50.00% | |||
| Maximum employee contribution in profit participation plan | 3.00% | |||
| Defined contribution compensation expense | $ 73 | $ 71 | $ 35 | |
| U.S. Plans | Pension Plans | ||||
| Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract] | ||||
| Expected rate of return | 6.10% | 6.55% | 5.05% | |
| Employer contributions | $ 11 | $ 11 | ||
| U.S. Plans | Other Retirement Plans | ||||
| Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract] | ||||
| Expected rate of return | 0.00% | 0.00% | 0.00% | |
| Employer contributions | $ 1 | $ 1 | ||
| U.S. Plans | Equity Securities | Pension Plans | ||||
| Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract] | ||||
| Plan asset, target asset allocation percentage | 35.00% | |||
| U.S. Plans | Equity Securities | Pension Plans | Minimum | ||||
| Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract] | ||||
| Plan asset, target asset allocation percentage | 23.00% | |||
| U.S. Plans | Equity Securities | Pension Plans | Maximum | ||||
| Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract] | ||||
| Plan asset, target asset allocation percentage | 46.00% | |||
| U.S. Plans | Fixed Income Securities | Pension Plans | ||||
| Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract] | ||||
| Plan asset, target asset allocation percentage | 61.00% | |||
| U.S. Plans | Fixed Income Securities | Pension Plans | Minimum | ||||
| Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract] | ||||
| Plan asset, target asset allocation percentage | 44.00% | |||
| U.S. Plans | Fixed Income Securities | Pension Plans | Maximum | ||||
| Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract] | ||||
| Plan asset, target asset allocation percentage | 77.00% | |||
| U.S. Plans | Other Investments | Pension Plans | ||||
| Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract] | ||||
| Plan asset, target asset allocation percentage | 5.00% | |||
| U.S. Plans | Other Investments | Pension Plans | Minimum | ||||
| Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract] | ||||
| Plan asset, target asset allocation percentage | 2.00% | |||
| U.S. Plans | Other Investments | Pension Plans | Maximum | ||||
| Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract] | ||||
| Plan asset, target asset allocation percentage | 8.00% | |||
| Non-U.S. Plans | ||||
| Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract] | ||||
| Defined contribution compensation expense | $ 50 | $ 42 | $ 37 | |
| Forecast | U.S. Plans | Pension Plans | ||||
| Defined Benefit Plans and Other Postretirement Benefit Plans [Abstract] | ||||
| Expected rate of return | 6.60% | |||
Pension And Other Retirement Benefits - Summary of Pension Plan Assets by Category Based on Hierarchy of Fair Value Measurements (Detail) - Pension Plans - U.S. Plans - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|---|
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | $ 460 | $ 449 | $ 420 |
| Percent of total assets | 100.00% | 100.00% | |
| Level 1 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | $ 26 | $ 25 | |
| Level 2 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | 365 | 356 | |
| Measured using NAV practical expedient | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | 69 | 68 | |
| Cash and cash equivalents | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | $ 2 | $ 5 | |
| Percent of total assets | 0.00% | 1.00% | |
| Cash and cash equivalents | Level 2 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | $ 2 | $ 5 | |
| Total equity investments | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | $ 139 | $ 147 | |
| Percent of total assets | 30.00% | 33.00% | |
| Total equity investments | Level 2 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | $ 139 | $ 147 | |
| U.S. large-cap | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | $ 114 | $ 106 | |
| Percent of total assets | 25.00% | 24.00% | |
| U.S. large-cap | Level 2 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | $ 114 | $ 106 | |
| U.S. small and mid-cap | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | $ 25 | $ 21 | |
| Percent of total assets | 5.00% | 5.00% | |
| U.S. small and mid-cap | Level 2 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | $ 25 | $ 21 | |
| Emerging markets | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | $ 20 | ||
| Percent of total assets | 4.00% | ||
| Emerging markets | Level 2 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | $ 20 | ||
| Total fixed-income investments | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | $ 295 | $ 272 | |
| Percent of total assets | 65.00% | 60.00% | |
| Total fixed-income investments | Level 1 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | $ 26 | $ 25 | |
| Total fixed-income investments | Level 2 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | 224 | 204 | |
| Total fixed-income investments | Measured using NAV practical expedient | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | 45 | 43 | |
| Emerging markets bond fund | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | $ 30 | $ 29 | |
| Percent of total assets | 7.00% | 6.00% | |
| Emerging markets bond fund | Measured using NAV practical expedient | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | $ 30 | $ 29 | |
| Intermediate-term investment grade U.S. government/ corporate bonds | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | $ 57 | $ 60 | |
| Percent of total assets | 12.00% | 13.00% | |
| Intermediate-term investment grade U.S. government/ corporate bonds | Level 2 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | $ 57 | $ 60 | |
| Long duration corporate bonds | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | $ 146 | $ 144 | |
| Percent of total assets | 32.00% | 32.00% | |
| Long duration corporate bonds | Level 2 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | $ 146 | $ 144 | |
| U.S. Treasury Inflation-Protected Securities (TIPs) | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | $ 26 | $ 25 | |
| Percent of total assets | 6.00% | 6.00% | |
| U.S. Treasury Inflation-Protected Securities (TIPs) | Level 1 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | $ 26 | $ 25 | |
| Emerging markets equity mutual fund | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | $ 21 | ||
| Percent of total assets | 5.00% | ||
| Emerging markets equity mutual fund | Level 2 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | $ 21 | ||
| Private investment fund—high yield securities | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | $ 15 | $ 14 | |
| Percent of total assets | 3.00% | 3.00% | |
| Private investment fund—high yield securities | Measured using NAV practical expedient | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | $ 15 | $ 14 | |
| Other investment—private real estate fund | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | $ 24 | $ 25 | |
| Percent of total assets | 5.00% | 6.00% | |
| Other investment—private real estate fund | Measured using NAV practical expedient | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Total assets | $ 24 | $ 25 |
Pension And Other Retirement Benefits - Estimated Future Benefits Payments for Retirement Plans (Detail) - U.S. Plans $ in Millions |
Dec. 31, 2024
USD ($)
|
|---|---|
| Pension Plans | |
| Defined Benefit Plan Disclosure [Line Items] | |
| 2025 | $ 28 |
| 2026 | 28 |
| 2027 | 30 |
| 2028 | 31 |
| 2029 | 32 |
| 2030 - 2034 | 174 |
| Other Retirement Plans | |
| Defined Benefit Plan Disclosure [Line Items] | |
| 2025 | 2 |
| 2026 | 2 |
| 2027 | 3 |
| 2028 | 3 |
| 2029 | 3 |
| 2030 - 2034 | $ 19 |
Stock-Based Compensation Plans - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Equity Option | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Unrecognized compensation expense | $ 12 | ||
| Weighted average period to recognize expense | 1 year 10 months 24 days | ||
| Restricted Stock | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Unrecognized compensation expense | $ 234 | ||
| Weighted average period to recognize expense | 2 years 4 months 24 days | ||
| Performance Based Restricted Stock | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Unrecognized compensation expense | $ 56 | ||
| Weighted average period to recognize expense | 2 years | ||
| Employee Stock Purchase Plan | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Common stock reserve for issuance or grant (shares) | 6.0 | ||
| Discount allowed to employees on purchase of shares under ESPP plan | 5.00% | 5.00% | 5.00% |
| 1998 and 2001 Plan | Equity Option | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Award vesting period (in years) | 4 years | ||
| 1998 Plan | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Common stock reserve for issuance or grant (shares) | 33.0 | ||
| 2001 Plan | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Common stock reserve for issuance or grant (shares) | 54.6 | ||
| 2001 Plan | Instruments Other Than Options | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Common stock reserve for issuance or grant (shares) | 10.7 | ||
| Directors' Plan | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Common stock reserve for issuance or grant (shares) | 1.7 | ||
| Award vesting period (in years) | 1 year | ||
| Minimum | Employee Stock Purchase Plan | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Employee subscription rate as a percentage of compensation | 1.00% | ||
| Minimum | 1998 and 2001 Plan | Equity Option | Employees at or Near Retirement Eligibility | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Award vesting period (in years) | 1 year | ||
| Minimum | 1998 and 2001 Plan | Performance Based Restricted Stock | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Award vesting period (in years) | 2 years | ||
| Maximum | Employee Stock Purchase Plan | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Employee subscription rate as a percentage of compensation | 10.00% | ||
| Maximum | 1998 and 2001 Plan | Equity Option | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Expiration period | 10 years | ||
| Maximum | 1998 and 2001 Plan | Equity Option | Employees at or Near Retirement Eligibility | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Award vesting period (in years) | 4 years | ||
| Maximum | 1998 and 2001 Plan | Performance Based Restricted Stock | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Award vesting period (in years) | 4 years | ||
Stock-Based Compensation Plans - Stock-Based Compensation Cost and Associated Tax Benefit (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Share-Based Payment Arrangement [Abstract] | |||
| Compensation expense | $ 221 | $ 193 | $ 169 |
| Tax benefit | $ 48 | $ 45 | $ 41 |
Stock-Based Compensation Plans - Weighted Average Assumptions used in Determining Fair Value for Options Granted (Detail) - $ / shares |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Share-Based Payment Arrangement [Abstract] | |||
| Expected dividend yield | 0.91% | 1.04% | 0.86% |
| Expected stock volatility | 28.00% | 29.00% | 27.00% |
| Risk-free interest rate | 4.34% | 4.19% | 1.91% |
| Expected holding period (in years) | 5 years 10 months 24 days | 5 years 9 months 18 days | 5 years 7 months 6 days |
| Weighted average grant date fair value per share (in USD per share) | $ 120.42 | $ 94.71 | $ 84.00 |
Stock-Based Compensation Plans - Summary of Option Activity (Details) $ / shares in Units, shares in Millions, $ in Millions |
12 Months Ended |
|---|---|
|
Dec. 31, 2024
USD ($)
$ / shares
shares
| |
| Shares | |
| Shares, outstanding, beginning balance (in shares) | shares | 0.8 |
| Shares, granted (in shares) | shares | 0.2 |
| Shares, exercised (in shares) | shares | (0.3) |
| Shares, outstanding, ending balance (in shares) | shares | 0.7 |
| Shares, vested and expected to vest (in shares) | shares | 0.7 |
| Shares, exercisable (in shares) | shares | 0.4 |
| Weighted Average Exercise Price Per Share | |
| Weighted average exercise price per share, beginning balance (in USD per share) | $ / shares | $ 212.29 |
| Weighted average exercise price per share, granted (in USD per share) | $ / shares | 372.52 |
| Weighted average exercise price per share, exercised (in USD per share) | $ / shares | 173.64 |
| Weighted average exercise price per share, ending balance (in USD per share) | $ / shares | 267.64 |
| Weighted average exercise price per share, vested and expected to vest (in USD per share) | $ / shares | 267.26 |
| Weighted average exercise price per share, exercisable (in USD per share) | $ / shares | $ 207.94 |
| Weighted Average Remaining Contractual Term | |
| Weighted average remaining contractual term, outstanding (in years) | 5 years 10 months 24 days |
| Weighted average remaining contractual term, vested and expected to vest (in years) | 5 years 10 months 24 days |
| Weighted average remaining contractual term (in years) | 4 years |
| Aggregate Intrinsic Value | |
| Aggregate intrinsic value, outstanding | $ | $ 140 |
| Aggregate intrinsic value, vested and expected to vest | $ | 139 |
| Aggregate intrinsic value, exercisable | $ | $ 99 |
Stock-Based Compensation Plans - Stock Option Exercises and Restricted Stock Vesting (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
| Proceeds from stock option exercises | $ 53 | $ 32 | $ 8 |
| Aggregate intrinsic value | 76 | 58 | 9 |
| Tax benefit realized upon exercise | 13 | 14 | 2 |
| Restricted Stock | |||
| Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
| Fair value of shares vested | 199 | 164 | 180 |
| Tax benefit realized upon vesting | 48 | 40 | 42 |
| Performance Based Restricted Stock | |||
| Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
| Fair value of shares vested | 40 | 24 | 50 |
| Tax benefit realized upon vesting | $ 9 | $ 3 | $ 7 |
Stock-Based Compensation Plans - Summary of Nonvested Restricted Stock (Details) - Non Vested Restricted Stock shares in Millions |
12 Months Ended |
|---|---|
|
Dec. 31, 2024
$ / shares
shares
| |
| Shares | |
| Shares, beginning balance (in shares) | shares | 1.3 |
| Shares, granted (in shares) | shares | 0.6 |
| Shares, vested (in shares) | shares | (0.5) |
| Shares, forfeited (in shares) | shares | (0.1) |
| Shares, ending balance (in shares) | shares | 1.3 |
| Weighted Average Grant Date Fair Value Per Share | |
| Weighted average grant date fair value per share, beginning balance (in USD per share) | $ / shares | $ 300.39 |
| Weighted average grant date fair value per share, granted (in USD per share) | $ / shares | 373.54 |
| Weighted average grant date fair value per share, vested (in USD per share) | $ / shares | 300.20 |
| Weighted average grant date fair value per share, forfeited (in USD per share) | $ / shares | 327.53 |
| Weighted average grant date fair value per share, ending balance (in USD per share) | $ / shares | $ 330.84 |
Stock-Based Compensation Plans - Summary of Performance Based Restricted Stock (Details) - Performance Based Restricted Stock shares in Millions |
12 Months Ended |
|---|---|
|
Dec. 31, 2024
$ / shares
shares
| |
| Performance-Based Restricted Stock | |
| Shares, beginning balance (in shares) | shares | 0.3 |
| Shares, granted (in shares) | shares | 0.1 |
| Shares, vested (in shares) | shares | (0.1) |
| Shares, ending balance (in shares) | shares | 0.3 |
| Performance based restricted stock, Weighted Average Grant Date Fair Value Per Share | |
| Weighted average grant date fair value per share, beginning balance (in USD per share) | $ / shares | $ 308.12 |
| Weighted average grant date fair value per share, granted (in USD per share) | $ / shares | 354.67 |
| Weighted average grant date fair value per share, vested (in USD per share) | $ / shares | 331.60 |
| Weighted average grant date fair value per share, ending balance (in USD per share) | $ / shares | $ 330.78 |
Income Taxes - Provision for Income Taxes (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Current: | |||
| Federal | $ 280 | $ 76 | $ 106 |
| State and Local | 106 | 67 | 17 |
| Non-U.S. | 316 | 222 | 215 |
| Total current | 702 | 365 | 338 |
| Deferred: | |||
| Federal | (21) | (14) | 57 |
| State and Local | (6) | (4) | 10 |
| Non-U.S. | (35) | (20) | (19) |
| Total deferred | (62) | (38) | 48 |
| Total provision for income taxes | $ 640 | $ 327 | $ 386 |
Income Taxes - Reconciliation of United States Federal Statutory Tax Rate to Effective Tax Rate on Income Before Provision for Income Taxes (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Income Tax Disclosure [Abstract] | |||
| U.S. statutory tax rate | 21.00% | 21.00% | 21.00% |
| State and local taxes, net of federal tax benefit | 3.70% | 2.50% | 0.80% |
| Foreign operations | (0.30%) | 0.40% | (0.20%) |
| Release of UTP reserves | (0.40%) | (5.70%) | 0.00% |
| Other | (0.30%) | (1.30%) | 0.30% |
| ETR | 23.70% | 16.90% | 21.90% |
| Income tax paid | $ 613 | $ 344 | $ 488 |
Income Taxes - Source of income Before Provision for Income Taxes (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Income Tax Disclosure [Abstract] | |||
| U.S. | $ 1,446 | $ 892 | $ 804 |
| Non-U.S. | 1,253 | 1,043 | 956 |
| Income before provision for income taxes | $ 2,699 | $ 1,935 | $ 1,760 |
Income Taxes - Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|---|---|---|---|---|
| Deferred tax assets: | ||||
| Account receivable allowances | $ 10 | $ 9 | ||
| Accumulated depreciation and amortization | 9 | 19 | ||
| Stock-based compensation | 60 | 60 | ||
| Accrued compensation and benefits | 50 | 53 | ||
| Capitalized costs | 20 | 25 | ||
| Operating lease liabilities | 84 | 103 | ||
| Deferred revenue | 211 | 200 | ||
| Net operating loss | 58 | 38 | ||
| Restructuring | 6 | 7 | ||
| Uncertain tax positions | 33 | 29 | ||
| Self-insured related reserves | 7 | 6 | ||
| Interest expense carryforward | 20 | 8 | ||
| Other | 12 | 5 | ||
| Total deferred tax assets | 580 | 562 | ||
| Deferred tax liabilities: | ||||
| Accumulated depreciation and amortization of intangible assets and capitalized software | (522) | (551) | ||
| ROU Assets | (56) | (67) | ||
| Capital gains | (13) | (20) | ||
| Self-insured related income | (7) | (6) | ||
| Deferred tax on unremitted foreign earnings | (20) | (14) | ||
| Gain on net investment hedges - OCI | (82) | (5) | ||
| Other | (11) | (19) | ||
| Total deferred tax liabilities | (711) | (682) | ||
| Net deferred tax liabilities | (131) | (120) | ||
| Valuation allowance | (25) | (24) | $ (21) | $ (18) |
| Total net deferred tax liabilities | $ (156) | $ (144) |
Income Taxes - Additional Information (Detail) - USD ($) $ in Millions |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
Sep. 30, 2018 |
|
| Income Tax Disclosure [Abstract] | |||||
| Revision of estimated repatriation tax liability resulting from tax reform legislation | $ 236 | ||||
| Revision of estimated repatriation tax liability resulting from tax reform legislation, due at end of year | $ 12 | ||||
| Excess tax benefits from stock compensation | (27) | ||||
| Unrecognized tax benefits, reduction resulting from lapse of applicable statute of limitations and settlement | 11 | ||||
| Unrecognized tax benefits, decrease resulting from current period tax positions | 2 | ||||
| Valuation allowance | 25 | $ 24 | $ 21 | $ 18 | |
| Unrecognized tax benefits | 211 | 196 | 322 | $ 388 | |
| Interest accrued on UTPs | $ 47 | $ 36 | $ 47 | ||
| Inflation reduction act impact on ETR | In August 2022, the U.S. Congress passed the Inflation Reduction Act, which included a corporate minimum tax on book earnings of 15%, an excise tax on corporate share repurchases of 1%, and certain climate change and energy tax credit incentives. The adoption of a corporate minimum tax of 15% did not have a significant impact on Moody’s ETR. The excise tax of 1% on corporate share buybacks is recorded to shareholders' equity and does not have an impact on the Company’s ETR. |
Income Taxes - Reconciliation of Uncertain Tax Positions (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Reconciliation of Unrecognized Tax Benefits | |||
| Unrecognized tax positions, beginning balance | $ 196 | $ 322 | $ 388 |
| Additions for tax positions related to the current year | 33 | 21 | 12 |
| Additions for tax positions of prior years | 11 | 3 | 12 |
| Reductions for tax positions of prior years | (11) | (17) | (27) |
| Settlements with taxing authorities | (3) | (108) | (30) |
| Lapse of statute of limitations | (15) | (25) | (33) |
| Unrecognized tax positions, ending balance | $ 211 | $ 196 | $ 322 |
Indebtedness - Summary of Total Indebtedness (Detail) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Debt Instrument [Line Items] | ||
| Principal Amount | $ 7,694 | $ 7,281 |
| Fair Value of Interest Rate Swap | (169) | (183) |
| Unamortized (Discount) Premium | (52) | (51) |
| Unamortized Debt Issuance Costs | (45) | (46) |
| Carrying Amount | 7,428 | 7,001 |
| Current portion | (697) | 0 |
| Long-term debt | $ 6,731 | $ 7,001 |
| 5.25% 2014 Senior Notes, due 2044 | ||
| Debt Instrument [Line Items] | ||
| Notes payable, interest rate | 5.25% | 5.25% |
| Principal Amount | $ 600 | $ 600 |
| Fair Value of Interest Rate Swap | (32) | (34) |
| Unamortized (Discount) Premium | 3 | 3 |
| Unamortized Debt Issuance Costs | (4) | (4) |
| Carrying Amount | $ 567 | $ 565 |
| 1.75% 2015 Senior Notes, due 2027 | ||
| Debt Instrument [Line Items] | ||
| Notes payable, interest rate | 1.75% | 1.75% |
| Principal Amount | $ 518 | $ 552 |
| Fair Value of Interest Rate Swap | 0 | 0 |
| Unamortized (Discount) Premium | 0 | 0 |
| Unamortized Debt Issuance Costs | (1) | (1) |
| Carrying Amount | $ 517 | $ 551 |
| 3.25% 2017 Senior Notes, due 2028 | ||
| Debt Instrument [Line Items] | ||
| Notes payable, interest rate | 3.25% | 3.25% |
| Principal Amount | $ 500 | $ 500 |
| Fair Value of Interest Rate Swap | (13) | (26) |
| Unamortized (Discount) Premium | (2) | (2) |
| Unamortized Debt Issuance Costs | (1) | (2) |
| Carrying Amount | $ 484 | $ 470 |
| 4.25% 2018 Senior Notes, due 2029 | ||
| Debt Instrument [Line Items] | ||
| Notes payable, interest rate | 4.25% | 4.25% |
| Principal Amount | $ 400 | $ 400 |
| Fair Value of Interest Rate Swap | (35) | (34) |
| Unamortized (Discount) Premium | (1) | (2) |
| Unamortized Debt Issuance Costs | (1) | (2) |
| Carrying Amount | $ 363 | $ 362 |
| 4.875% 2018 Senior Notes, due 2048 | ||
| Debt Instrument [Line Items] | ||
| Notes payable, interest rate | 4.875% | 4.875% |
| Principal Amount | $ 400 | $ 400 |
| Fair Value of Interest Rate Swap | (35) | (36) |
| Unamortized (Discount) Premium | (6) | (6) |
| Unamortized Debt Issuance Costs | (3) | (3) |
| Carrying Amount | $ 356 | $ 355 |
| 0.950% 2019 Senior Notes, due 2030 | ||
| Debt Instrument [Line Items] | ||
| Notes payable, interest rate | 0.95% | 0.95% |
| Principal Amount | $ 776 | $ 829 |
| Fair Value of Interest Rate Swap | 0 | 0 |
| Unamortized (Discount) Premium | (1) | (2) |
| Unamortized Debt Issuance Costs | (3) | (4) |
| Carrying Amount | $ 772 | $ 823 |
| 3.75% 2020 Senior Notes, due 2025 | ||
| Debt Instrument [Line Items] | ||
| Notes payable, interest rate | 3.75% | 3.75% |
| Principal Amount | $ 700 | $ 700 |
| Fair Value of Interest Rate Swap | (3) | (16) |
| Unamortized (Discount) Premium | 0 | (1) |
| Unamortized Debt Issuance Costs | 0 | (1) |
| Carrying Amount | $ 697 | $ 682 |
| 3.25% 2020 Senior Notes, due 2050 | ||
| Debt Instrument [Line Items] | ||
| Notes payable, interest rate | 3.25% | 3.25% |
| Principal Amount | $ 300 | $ 300 |
| Fair Value of Interest Rate Swap | 0 | 0 |
| Unamortized (Discount) Premium | (4) | (4) |
| Unamortized Debt Issuance Costs | (3) | (3) |
| Carrying Amount | $ 293 | $ 293 |
| 2.55% 2020 Senior Notes, due 2060 | ||
| Debt Instrument [Line Items] | ||
| Notes payable, interest rate | 2.55% | 2.55% |
| Principal Amount | $ 300 | $ 300 |
| Fair Value of Interest Rate Swap | 0 | 0 |
| Unamortized (Discount) Premium | (2) | (2) |
| Unamortized Debt Issuance Costs | (3) | (3) |
| Carrying Amount | $ 295 | $ 295 |
| 2.00% 2021 Senior Notes, due 2031 | ||
| Debt Instrument [Line Items] | ||
| Notes payable, interest rate | 2.00% | 2.00% |
| Principal Amount | $ 600 | $ 600 |
| Fair Value of Interest Rate Swap | 0 | 0 |
| Unamortized (Discount) Premium | (6) | (6) |
| Unamortized Debt Issuance Costs | (4) | (4) |
| Carrying Amount | $ 590 | $ 590 |
| 2.75% 2021 Senior Notes, due 2041 | ||
| Debt Instrument [Line Items] | ||
| Notes payable, interest rate | 2.75% | 2.75% |
| Principal Amount | $ 600 | $ 600 |
| Fair Value of Interest Rate Swap | 0 | 0 |
| Unamortized (Discount) Premium | (12) | (12) |
| Unamortized Debt Issuance Costs | (5) | (5) |
| Carrying Amount | $ 583 | $ 583 |
| 3.10% 2021 Senior Notes, due 2061 | ||
| Debt Instrument [Line Items] | ||
| Notes payable, interest rate | 3.10% | 3.10% |
| Principal Amount | $ 500 | $ 500 |
| Fair Value of Interest Rate Swap | 0 | 0 |
| Unamortized (Discount) Premium | (7) | (7) |
| Unamortized Debt Issuance Costs | (5) | (5) |
| Carrying Amount | $ 488 | $ 488 |
| 3.75% 2022 Senior Notes, due 2052 | ||
| Debt Instrument [Line Items] | ||
| Notes payable, interest rate | 3.75% | 3.75% |
| Principal Amount | $ 500 | $ 500 |
| Fair Value of Interest Rate Swap | (43) | (29) |
| Unamortized (Discount) Premium | (8) | (8) |
| Unamortized Debt Issuance Costs | (5) | (5) |
| Carrying Amount | $ 444 | $ 458 |
| 4.25% 2022 Senior Notes, due 2032 | ||
| Debt Instrument [Line Items] | ||
| Notes payable, interest rate | 4.25% | 4.25% |
| Principal Amount | $ 500 | $ 500 |
| Fair Value of Interest Rate Swap | (8) | (8) |
| Unamortized (Discount) Premium | (2) | (2) |
| Unamortized Debt Issuance Costs | (3) | (4) |
| Carrying Amount | $ 487 | $ 486 |
| 5.00% 2024 Senior Notes, due 2034 | ||
| Debt Instrument [Line Items] | ||
| Notes payable, interest rate | 5.00% | |
| Principal Amount | $ 500 | |
| Fair Value of Interest Rate Swap | 0 | |
| Unamortized (Discount) Premium | (4) | |
| Unamortized Debt Issuance Costs | (4) | |
| Carrying Amount | $ 492 |
Indebtedness - Schedule of Credit Facilities (Details) - USD ($) |
Dec. 31, 2024 |
May 06, 2024 |
Dec. 31, 2023 |
Dec. 17, 2021 |
|---|---|---|---|---|
| 2021 Credit Facility | ||||
| Line of Credit Facility [Line Items] | ||||
| Maximum Borrowing Capacity | $ 1,250,000,000 | |||
| Drawn | $ 0 | $ 0 | ||
| Undrawn | 0 | 1,250,000,000 | ||
| 2024 Credit Facility | ||||
| Line of Credit Facility [Line Items] | ||||
| Maximum Borrowing Capacity | $ 1,250,000,000 | |||
| Drawn | 0 | 0 | ||
| Undrawn | $ 1,250,000,000 | $ 0 |
Indebtedness - Additional Information (Detail) - USD ($) |
12 Months Ended | |||
|---|---|---|---|---|
May 06, 2024 |
Dec. 31, 2024 |
Dec. 17, 2021 |
Aug. 03, 2016 |
|
| Debt Instrument [Line Items] | ||||
| Debt instrument, covenant compliance | At December 31, 2024, the Company was in compliance with all covenants contained within all of the debt agreements. All of the debt agreements contain cross default provisions which state that default under one of the aforementioned debt instruments could in turn permit lenders under other debt instruments to declare borrowings outstanding under those instruments to be immediately due and payable. As of December 31, 2024, there were no such cross defaults. | |||
| 2024 Credit Facility | ||||
| Debt Instrument [Line Items] | ||||
| Maximum borrowing capacity | $ 1,250,000,000 | |||
| Term | 5 years | |||
| 2024 Credit Facility | Term Loan Facility Any Fiscal Quarter | ||||
| Debt Instrument [Line Items] | ||||
| Debt/EBITDA ratio | 4 | |||
| 2024 Credit Facility | First Three Consecutive Quarters immediately following Any Acquisition | ||||
| Debt Instrument [Line Items] | ||||
| Debt/EBITDA ratio | 4.5 | |||
| 2024 Credit Facility | Minimum | ||||
| Debt Instrument [Line Items] | ||||
| Basis spread on variable rate (percent) | 0.805% | |||
| Facility fee basis points | 0.07% | |||
| Contingent consideration arising from acquisitions, payment or settlement | $ 500,000,000 | |||
| 2024 Credit Facility | Maximum | ||||
| Debt Instrument [Line Items] | ||||
| Basis spread on variable rate (percent) | 1.225% | |||
| Facility fee basis points | 0.15% | |||
| 2021 Credit Facility | ||||
| Debt Instrument [Line Items] | ||||
| Maximum borrowing capacity | $ 1,250,000,000 | |||
| Commercial Paper | ||||
| Debt Instrument [Line Items] | ||||
| Maximum borrowing capacity | $ 1,000,000,000 | |||
| Commercial paper | $ 0 | |||
| Commercial Paper | Maximum | ||||
| Debt Instrument [Line Items] | ||||
| Term | 397 days |
Indebtedness - Principal Payments Due on Long-Term Borrowings (Detail) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Debt Disclosure [Abstract] | ||
| 2025 | $ 700 | |
| 2026 | 0 | |
| 2027 | 518 | |
| 2028 | 500 | |
| 2029 | 400 | |
| Thereafter | 5,576 | |
| Total principal payment | $ 7,694 | $ 7,281 |
Indebtedness - Summary of Components of Interest as Presented in Consolidated Statements of Operations (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Debt Disclosure [Abstract] | |||
| Expense on borrowings | $ (300) | $ (296) | $ (216) |
| (Expense) income on UTPs and other tax related liabilities | (13) | 8 | (13) |
| Net periodic pension costs--interest component | (26) | (26) | (17) |
| Income | 102 | 63 | 15 |
| Interest expense, net | (237) | (251) | (231) |
| Interest paid | 280 | $ 281 | $ 198 |
| Unrecognized tax benefits, decrease in interest on income taxes expense due to resolution of tax matters | $ 22 | ||
Indebtedness - Fair Value and Carrying Value of Long-Term Debt (Detail) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Debt Instrument [Line Items] | ||
| Carrying Amount | $ 7,428 | $ 7,001 |
| Level 2 | ||
| Debt Instrument [Line Items] | ||
| Estimated Fair Value | $ 6,601 | $ 6,402 |
Capital Stock - Additional Information (Detail) - $ / shares |
12 Months Ended | |||
|---|---|---|---|---|
Feb. 12, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Class of Stock [Line Items] | ||||
| All classes of stock, shares authorized (in shares) | 1,020,000,000.00 | |||
| Shares of all classes of stock, par value (in usd per share) | $ 0.01 | |||
| Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 | ||
| Shares issued during the period for stock-based compensation plans (in shares) | 700,000 | |||
| Subsequent Event | O 2024 Q4 Dividends | ||||
| Class of Stock [Line Items] | ||||
| Dividend declared, declaration date | Feb. 12, 2025 | |||
| Quarterly dividend declared (in dollars per share) | $ 0.94 | |||
| Dividend declared, payable date | Mar. 14, 2025 | |||
| Dividend declared, record date | Feb. 25, 2025 | |||
| Common Stock | ||||
| Class of Stock [Line Items] | ||||
| Common stock, shares authorized (in shares) | 1,000,000,000.0 | 1,000,000,000 | ||
| Series Common Stock | ||||
| Class of Stock [Line Items] | ||||
| Common stock, shares authorized (in shares) | 10,000,000 | 10,000,000 | ||
| Treasury Stock | ||||
| Class of Stock [Line Items] | ||||
| Treasury shares repurchased (in shares) | 2,900,000 | 1,500,000 | 3,100,000 | |
Capital Stock - Share Repurchase Programs (Detail) $ in Millions |
Dec. 31, 2024
USD ($)
|
|---|---|
| Equity, Class of Treasury Stock [Line Items] | |
| Remaining Authority | $ 1,567 |
| October 15. 2024 | |
| Equity, Class of Treasury Stock [Line Items] | |
| Amount Authorized | 1,500 |
| Remaining Authority | 1,500 |
| February 5. 2024 | |
| Equity, Class of Treasury Stock [Line Items] | |
| Amount Authorized | 1,000 |
| Remaining Authority | $ 67 |
Capital Stock - Dividends Paid (Detail) - $ / shares |
3 Months Ended | 12 Months Ended | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2024 |
Sep. 30, 2024 |
Jun. 30, 2024 |
Mar. 31, 2024 |
Dec. 31, 2023 |
Sep. 30, 2023 |
Jun. 30, 2023 |
Mar. 31, 2023 |
Dec. 31, 2022 |
Sep. 30, 2022 |
Jun. 30, 2022 |
Mar. 31, 2022 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Stockholders' Equity Note [Abstract] | |||||||||||||||
| Dividends declared per share (in USD per share) | $ 0.85 | $ 0.85 | $ 0.85 | $ 0.85 | $ 0.77 | $ 0.77 | $ 0.77 | $ 0.77 | $ 0.70 | $ 0.70 | $ 0.70 | $ 0.70 | $ 3.40 | $ 3.08 | $ 2.80 |
| Dividends per share paid (in USD per share) | $ 0.85 | $ 0.85 | $ 0.85 | $ 0.85 | $ 0.77 | $ 0.77 | $ 0.77 | $ 0.77 | $ 0.70 | $ 0.70 | $ 0.70 | $ 0.70 | $ 3.40 | $ 3.08 | $ 2.80 |
Leases - Additional Information (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Lessee, Lease, Description [Line Items] | |||
| Restructuring Charges | $ 59 | $ 87 | $ 114 |
| Unrecorded unconditional purchase obligation | $ 140 | ||
| Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract | 15 years | ||
| 2022 - 2023 Geolocation Restructuring Program | |||
| Lessee, Lease, Description [Line Items] | |||
| Restructuring Charges | $ 14 | 87 | 113 |
| Real Estate | 2022 - 2023 Geolocation Restructuring Program | |||
| Lessee, Lease, Description [Line Items] | |||
| Restructuring Charges | $ 0 | 36 | 27 |
| Restructuring Charges | |||
| Lessee, Lease, Description [Line Items] | |||
| Impairment of right-of-use | $ 32 | $ 23 | |
| Minimum | |||
| Lessee, Lease, Description [Line Items] | |||
| Operating lease, renewal term | 1 year | ||
| Maximum | |||
| Lessee, Lease, Description [Line Items] | |||
| Operating lease, renewal term | 20 years | ||
Leases - Components of Lease Cost (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Lease, Cost [Abstract] | |||
| Operating lease cost | $ 88 | $ 93 | $ 102 |
| Sublease income | (7) | (7) | (7) |
| Variable lease cost | 22 | 22 | 20 |
| Total lease cost | $ 103 | $ 108 | $ 115 |
Leases - Operating Leases Information (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Leases [Abstract] | |||
| Cash paid for amounts included in the measurement of operating lease liabilities | $ 120 | $ 119 | $ 118 |
| Right-of-use assets obtained in exchange for new operating lease liabilities | $ 21 | $ 40 | $ 35 |
| Weighted-average remaining lease term (in years) | 3 years 9 months 18 days | 4 years 4 months 24 days | 4 years 10 months 24 days |
| Weighted-average discount rate applied to operating leases (percent) | 3.20% | 3.20% | 3.10% |
Leases - Operating Leases, Future Minimum Payment (Detail) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Leases [Abstract] | ||
| 2025 | $ 111 | |
| 2026 | 91 | |
| 2027 | 74 | |
| 2028 | 23 | |
| 2029 | 19 | |
| Thereafter | 20 | |
| Total lease payments (undiscounted) | 338 | |
| Less: Interest | 20 | |
| Present value of lease liabilities: | 318 | |
| Lease liabilities - current | 102 | $ 108 |
| Lease liabilities - noncurrent | $ 216 | $ 306 |
Contingencies - Additional Information (Detail) $ in Millions |
Sep. 03, 2024
USD ($)
|
|---|---|
| Commitments and Contingencies Disclosure [Abstract] | |
| Payments for Legal Settlements | $ 20 |
Segment Information - Additional Information (Detail) $ in Millions |
12 Months Ended |
|---|---|
|
Dec. 31, 2024
USD ($)
segment
lineOfBusiness
| |
| Segment Reporting Information [Line Items] | |
| Number of operating segments | segment | 2 |
| Number of reportable segments | segment | 2 |
| MA | |
| Segment Reporting Information [Line Items] | |
| Number of lines of business | lineOfBusiness | 3 |
| MIS | |
| Segment Reporting Information [Line Items] | |
| Number of lines of business | lineOfBusiness | 5 |
| Strategic and Operational Efficiency Restructuring Program | MA | Minimum | |
| Segment Reporting Information [Line Items] | |
| Restructuring and related cost, expected cost | $ 125 |
| Strategic and Operational Efficiency Restructuring Program | MA | Maximum | |
| Segment Reporting Information [Line Items] | |
| Restructuring and related cost, expected cost | 155 |
| Strategic and Operational Efficiency Restructuring Program | MIS | Minimum | |
| Segment Reporting Information [Line Items] | |
| Restructuring and related cost, expected cost | 75 |
| Strategic and Operational Efficiency Restructuring Program | MIS | Maximum | |
| Segment Reporting Information [Line Items] | |
| Restructuring and related cost, expected cost | $ 95 |
Segment Information - Financial Information by Segment (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Segment Reporting Information, Operating Income (Loss) [Abstract] | |||
| Revenue | $ 7,088 | $ 5,916 | $ 5,468 |
| Compensation expense | 2,539 | 2,241 | 2,056 |
| Non-compensation expense | 1,141 | 1,078 | 1,084 |
| Operating, SG&A | 3,680 | 3,319 | 3,140 |
| Adjusted Operating Income | 3,408 | 2,597 | 2,328 |
| Depreciation and amortization | 431 | 373 | 331 |
| Restructuring | 59 | 87 | 114 |
| Charges related to asset abandonment | 43 | 0 | 0 |
| Operating income | 2,875 | 2,137 | 1,883 |
| Non-operating (expense) income, net | (176) | (202) | (123) |
| Income before provision for income taxes | 2,699 | 1,935 | 1,760 |
| Eliminations | |||
| Segment Reporting Information, Operating Income (Loss) [Abstract] | |||
| Revenue | (206) | (199) | (182) |
| Intersegment expense | (206) | (199) | (182) |
| Operating, SG&A | (206) | (199) | (182) |
| Adjusted Operating Income | 0 | 0 | 0 |
| Depreciation and amortization | 0 | 0 | 0 |
| Restructuring | 0 | 0 | 0 |
| Operating Segments | |||
| Segment Reporting Information, Operating Income (Loss) [Abstract] | |||
| Revenue | 7,088 | 5,916 | 5,468 |
| MA | |||
| Segment Reporting Information, Operating Income (Loss) [Abstract] | |||
| Revenue | 3,295 | 3,056 | 2,769 |
| Compensation expense | 1,370 | 1,238 | 1,116 |
| Non-compensation expense | 731 | 708 | 647 |
| MA | Eliminations | |||
| Segment Reporting Information, Operating Income (Loss) [Abstract] | |||
| Revenue | 13 | 13 | 8 |
| Intersegment expense | 193 | 186 | 174 |
| MA | Operating Segments | |||
| Segment Reporting Information, Operating Income (Loss) [Abstract] | |||
| Revenue | 3,308 | 3,069 | 2,777 |
| Operating, SG&A | 2,294 | 2,132 | 1,937 |
| Adjusted Operating Income | 1,014 | 937 | 840 |
| Depreciation and amortization | 353 | 298 | 250 |
| Restructuring | 42 | 59 | 49 |
| Charges related to asset abandonment | 43 | 0 | |
| MIS | |||
| Segment Reporting Information, Operating Income (Loss) [Abstract] | |||
| Revenue | 3,793 | 2,860 | 2,699 |
| Compensation expense | 1,169 | 1,003 | 940 |
| Non-compensation expense | 410 | 370 | 437 |
| MIS | Eliminations | |||
| Segment Reporting Information, Operating Income (Loss) [Abstract] | |||
| Revenue | 193 | 186 | 174 |
| Intersegment expense | 13 | 13 | 8 |
| MIS | Operating Segments | |||
| Segment Reporting Information, Operating Income (Loss) [Abstract] | |||
| Revenue | 3,986 | 3,046 | 2,873 |
| Operating, SG&A | 1,592 | 1,386 | 1,385 |
| Adjusted Operating Income | 2,394 | 1,660 | 1,488 |
| Depreciation and amortization | 78 | 75 | 81 |
| Restructuring | 17 | 28 | $ 65 |
| Charges related to asset abandonment | $ 0 | $ 0 | |
Segment Information - Cumulative Restructuring Expense (Details) $ in Millions |
Dec. 31, 2024
USD ($)
|
|---|---|
| 2022 - 2023 Geolocation Restructuring Program | |
| Segment Reporting Information [Line Items] | |
| Cumulative expense incurred | $ 214 |
| Strategic and Operational Efficiency Restructuring Program | |
| Segment Reporting Information [Line Items] | |
| Cumulative expense incurred | 45 |
| MA | 2022 - 2023 Geolocation Restructuring Program | |
| Segment Reporting Information [Line Items] | |
| Cumulative expense incurred | 116 |
| MA | Strategic and Operational Efficiency Restructuring Program | |
| Segment Reporting Information [Line Items] | |
| Cumulative expense incurred | 34 |
| MIS | 2022 - 2023 Geolocation Restructuring Program | |
| Segment Reporting Information [Line Items] | |
| Cumulative expense incurred | 98 |
| MIS | Strategic and Operational Efficiency Restructuring Program | |
| Segment Reporting Information [Line Items] | |
| Cumulative expense incurred | $ 11 |
Segment Information - Consolidated Revenue Information by Geographic Area (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Segment Reporting Information [Line Items] | |||
| Revenue | $ 7,088 | $ 5,916 | $ 5,468 |
| Long-lived assets | 8,756 | 8,885 | 8,897 |
| U.S. | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 3,836 | 3,071 | 2,865 |
| Long-lived assets | 4,395 | 4,323 | 4,408 |
| Non-U.S. | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 3,252 | 2,845 | 2,603 |
| Long-lived assets | 4,361 | 4,562 | 4,489 |
| EMEA | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 2,174 | 1,886 | 1,708 |
| Asia-Pacific | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 629 | 570 | 539 |
| Americas | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | $ 449 | $ 389 | $ 356 |
Valuation and Qualifying Accounts - Summary of Activity for Valuation Allowances (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||
| Beginning balance, accounts receivable allowance | $ (35) | $ (40) | $ (32) |
| Charged to costs and expenses | (15) | (22) | (25) |
| Deductions, accounts receivable allowance | 18 | 27 | 17 |
| Ending balance, accounts receivable allowance | (32) | (35) | (40) |
| Deferred Tax Assets, Valuation Allowance [Roll Forward] | |||
| Beginning balance, deferred tax assets valuation allowance | (24) | (21) | (18) |
| Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | (2) | (2) | (4) |
| Deductions, deferred tax assets valuation allowance | 1 | (1) | 1 |
| Ending balance, deferred tax assets valuation allowance | $ (25) | $ (24) | $ (21) |
OTHER NON-OPERATING (EXPENSE) INCOME, NET (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Other Income and Expenses [Abstract] | |||
| FX (loss) gain | $ 0 | $ (30) | $ (10) |
| Net periodic pension income - non-service and non-interest cost components | 30 | 35 | 24 |
| Income from investments in non-consolidated affiliates | 15 | 19 | 17 |
| Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain | 7 | 0 | 0 |
| Gain (loss) on investments | 13 | 14 | (14) |
| Other | (4) | 11 | 21 |
| Total | 61 | 49 | 38 |
| Loss recorded pursuant to an immaterial out-of-period adjustment, net of tax | 23 | ||
| FX translation losses reclassified to net income | $ 0 | $ 0 | $ 20 |
OTHER NON-OPERATING (EXPENSE) INCOME, NET - Narrative (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Restructuring Cost and Reserve [Line Items] | |||
| Charges related to asset abandonment | $ 43 | $ 0 | $ 0 |
| Employee Severance | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Charges related to asset abandonment | 12 | ||
| Accelerated Amortization Charges | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Charges related to asset abandonment | $ 31 | ||