XML 201 R47.htm IDEA: XBRL DOCUMENT
v3.25.0.1

PENSION AND OTHER RETIREMENT BENEFITS (Tables) | 12 Months Ended
--- | ---
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:
| Pension Plans |  | Other Retirement Plans
| 2024 |  | 2023 |  | 2024 |  | 2023
Change in benefit obligation: |  |  |  |  |  |  |
Benefit obligation, beginning of the period | $ | (484) |  |  | $ | (462) |  |  | $ | (42) |  |  | $ | (39) |
Service cost | (10) |  |  | (11) |  |  | (3) |  |  | (3) |
Interest cost | (22) |  |  | (22) |  |  | (2) |  |  | (2) |
Plan participants’ contributions | — |  |  | — |  |  | (2) |  |  | (1) |
Benefits paid | 24 |  |  | 30 |  |  | 3 |  |  | 2 |
Actuarial (loss) gain | — |  |  | (4) |  |  | — |  |  | 2 |
Assumption changes | 28 |  |  | (15) |  |  | 4 |  |  | (1) |
Benefit obligation, end of the period | $ | (464) |  |  | $ | (484) |  |  | $ | (42) |  |  | $ | (42) |
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) |  |  | (3) |  |  | (2) |
Employer contributions | 11 |  |  | 11 |  |  | 1 |  |  | 1 |
Plan participants’ contributions | — |  |  | — |  |  | 2 |  |  | 1 |
Fair value of plan assets, end of the period | $ | 460 |  |  | $ | 449 |  |  | $ | — |  |  | $ | — |
Funded status of the plans | $ | (4) |  |  | $ | (35) |  |  | $ | (42) |  |  | $ | (42) |
Amounts recorded on the consolidated balance sheets: |  |  |  |  |  |  |
Pension and retirement benefits asset – non current | $ | 60 |  |  | $ | 40 |  |  | $ | — |  |  | $ | — |
Pension and retirement benefits liability – current | (8) |  |  | (13) |  |  | (2) |  |  | (2) |
Pension and retirement benefits liability – non current | (56) |  |  | (62) |  |  | (40) |  |  | (40) |
Net amount recognized | $ | (4) |  |  | $ | (35) |  |  | $ | (42) |  |  | $ | (42) |
Accumulated benefit obligation, end of the period | $ | (436) |  |  | $ | (453) |  |  |  |  |
Accumulated Benefit Obligation in Excess of Plan Assets | The following information is for those pension plans with an accumulated benefit obligation in excess of plan assets:
| December 31,
| 2024 |  | 2023
Aggregate projected benefit obligation | $ | 65 |  |  | $ | 75 |
Aggregate accumulated benefit obligation | $ | 57 |  |  | $ | 67 |
Summary of Pre-Tax Net Actuarial Losses and Prior Service Cost Recognized in AOCI | The following table summarizes the pre-tax net actuarial losses and prior service costs recognized in AOCL for the Company’s Retirement Plans as of December 31:
| Pension Plans |  | Other Retirement Plans
| 2024 |  | 2023 |  | 2024 |  | 2023
Net actuarial gains (losses) | $ | (61) |  |  | $ | (82) |  |  | $ | 13 |  |  | $ | 10 |
Net prior service credits | 1 |  |  | 1 |  |  | — |  |  | — |
Total recognized in AOCL – pre-tax | $ | (60) |  |  | $ | (81) |  |  | $ | 13 |  |  | $ | 10 |
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:
| Pension Plans |  | Other Retirement Plans
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Components of net periodic expense (income) |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | 10 |  |  | $ | 11 |  |  | $ | 14 |  |  | $ | 3 |  |  | $ | 3 |  |  | $ | 4 |
Interest cost | 22 |  |  | 22 |  |  | 15 |  |  | 2 |  |  | 2 |  |  | 1 |
Expected return on plan assets | (30) |  |  | (32) |  |  | (26) |  |  | — |  |  | — |  |  | — |
Amortization of net actuarial (gains) losses and prior service credits from earlier periods | — |  |  | (1) |  |  | 3 |  |  | (1) |  |  | (1) |  |  | — |
(Gain) loss on settlement of pension obligations | (1) |  |  | (2) |  |  | — |  |  | — |  |  | — |  |  | — |
Net periodic expense (income) | $ | 1 |  |  | $ | (2) |  |  | $ | 6 |  |  | $ | 4 |  |  | $ | 4 |  |  | $ | 5 |
Summary of Pre-Tax Amounts Recorded in OCI | The following table summarizes the pre-tax amounts recorded in OCI related to the Company’s Retirement Plans for the years ended December 31:
| Pension Plans |  | Other Retirement Plans
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Amortization of net actuarial (gains) losses and prior service credit | $ | (1) |  |  | $ | (1) |  |  | $ | 3 |  |  | $ | (1) |  |  | $ | (1) |  |  | $ | — |
(Gain) loss on settlement of pension obligations | (1) |  |  | (2) |  |  | — |  |  | — |  |  | — |  |  | — |
Net actuarial gain (loss) arising during the period | 22 |  |  | (3) |  |  | (19) |  |  | 4 |  |  | 1 |  |  | 13 |
Total recognized in OCI – pre-tax | $ | 20 |  |  | $ | (6) |  |  | $ | (16) |  |  | $ | 3 |  |  | $ | — |  |  | $ | 13 |
Weighted-average Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Expenses | Weighted-average assumptions used to determine benefit obligations at December 31:
| Pension Plans |  | Other Retirement Plans
| 2024 |  | 2023 |  | 2024 |  | 2023
Discount rate | 5.43 | % |  | 4.73 | % |  | 5.40 | % |  | 4.75 | %
Rate of compensation increase | 3.60 | % |  | 3.60 | % |  | — |  |  | — |
Cash balance plan interest crediting rate | 4.78 | % |  | 4.50 | % |  | — |  |  | — |
Weighted-average assumptions used to determine net periodic benefit expense for years ended December 31:
| Pension Plans |  | Other Retirement Plans
2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Discount rate | 4.73 | % |  | 4.93 | % |  | 2.60 | % |  | 4.75 | % |  | 4.90 | % |  | 2.65 | %
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 | % |  | — |  |  | — |  |  | — |
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:
| Fair Value Measurement as of December 31, 2024
Asset Category | Balance |  | Level 1 |  | Level 2 |  | Measured using NAV practical expedient (1) |  | % of total assets
Cash and cash equivalents | $ | 2 |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | — | %
Common/collective trust funds—equity securities |  |  |  |  |  |  |  |  |
U.S. large-cap | 114 |  |  | — |  |  | 114 |  |  | — |  |  | 25 | %
U.S. small and mid-cap | 25 |  |  | — |  |  | 25 |  |  | — |  |  | 5 | %
Total equity investments | 139 |  |  | — |  |  | 139 |  |  | — |  |  | 30 | %
Emerging markets bond fund | 30 |  |  | — |  |  | — |  |  | 30 |  |  | 7 | %
Common/collective trust funds and corporate bonds—fixed income securities |  |  |  |  |  |  |  |  |
Intermediate-term investment grade U.S. government/ corporate bonds | 57 |  |  | — |  |  | 57 |  |  | — |  |  | 12 | %
Mutual funds |  |  |  |  |  |  |  |  |
Long duration corporate bonds | 146 |  |  | — |  |  | 146 |  |  | — |  |  | 32 | %
U.S. Treasury Inflation-Protected Securities (TIPs) | 26 |  |  | 26 |  |  | — |  |  | — |  |  | 6 | %
Emerging markets equity mutual fund | 21 |  |  | — |  |  | 21 |  |  | — |  |  | 5 | %
Private investment fund—high yield securities | 15 |  |  | — |  |  | — |  |  | 15 |  |  | 3 | %
Total fixed-income investments | 295 |  |  | 26 |  |  | 224 |  |  | 45 |  |  | 65 | %
Other investment—private real estate fund | 24 |  |  | — |  |  | — |  |  | 24 |  |  | 5 | %
Total Assets | $ | 460 |  |  | $ | 26 |  |  | $ | 365 |  |  | $ | 69 |  |  | 100 | %
| Fair Value Measurement as of December 31, 2023
Asset Category | Balance |  | Level 1 |  | Level 2 |  | Measured using NAV practical expedient (1) |  | % of total assets
Cash and cash equivalents | $ | 5 |  |  | $ | — |  |  | $ | 5 |  |  | $ | — |  |  | 1 | %
Common/collective trust funds—equity securities |  |  |  |  |  |  |  |  |
U.S. large-cap | 106 |  |  | — |  |  | 106 |  |  | — |  |  | 24 | %
U.S. small and mid-cap | 21 |  |  | — |  |  | 21 |  |  | — |  |  | 5 | %
Emerging markets | 20 |  |  | — |  |  | 20 |  |  | — |  |  | 4 | %
Total equity investments | 147 |  |  | — |  |  | 147 |  |  | — |  |  | 33 | %
Emerging markets bond fund | 29 |  |  | — |  |  | — |  |  | 29 |  |  | 6 | %
Common/collective trust funds and corporate bonds—fixed income securities |  |  |  |  |  |  |  |  |
Intermediate-term investment grade U.S. government/ corporate bonds | 60 |  |  | — |  |  | 60 |  |  | — |  |  | 13 | %
Mutual funds |  |  |  |  |  |  |  |  |
Long duration corporate bonds | 144 |  |  | — |  |  | 144 |  |  | — |  |  | 32 | %
U.S. Treasury Inflation-Protected Securities (TIPs) | 25 |  |  | 25 |  |  | — |  |  | — |  |  | 6 | %
Private investment fund—high yield securities | 14 |  |  | — |  |  | — |  |  | 14 |  |  | 3 | %
Total fixed-income investments | 272 |  |  | 25 |  |  | 204 |  |  | 43 |  |  | 60 | %
Other investment—private real estate debt fund | 25 |  |  | — |  |  | — |  |  | 25 |  |  | 6 | %
Total Assets | $ | 449 |  |  | $ | 25 |  |  | $ | 356 |  |  | $ | 68 |  |  | 100 | %
(1)Investments are measured using the net asset value per share (or its equivalent) practical expedient and have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit a reconciliation of the fair value hierarchy to the value of the total plan assets.
Estimated Future Benefits Payments for Retirement Plans | Estimated future benefits payments for the Retirement Plans are as follows as of the year ended December 31, 2024:
Year Ending December 31, |  | Pension Plans |  | Other Retirement Plans
2025 |  | $ | 28 |  |  | $ | 2 |
2026 |  | 28 |  |  | 2 |
2027 |  | 30 |  |  | 3 |
2028 |  | 31 |  |  | 3 |
2029 |  | 32 |  |  | 3 |
2030 - 2034 |  | 174 |  |  | 19 |

X
- Definition Table summarizing the pre-tax net actuarial losses and prior service cost recognized in AOCI for the Company's Post-Retirement Plans as of December 31. + References No definition available. + Details
Name: | mco_SummaryOfPreTaxNetActuarialLossesAndPriorServiceCostRecognizedInAccumulatedOtherComprehensiveIncomeTableTextBlock
Namespace Prefix: | mco_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefit obligation and plan assets of defined benefit plan with accumulated benefit obligation in excess of plan assets. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 17 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480482/715-20-55-17 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-3 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-3 + Details
Name: | us-gaap_ScheduleOfAccumulatedBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (d)(5) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (k) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in the accumulated postemployment benefit obligation from the beginning to the end of the period, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (a) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfChangesInAccumulatedPostemploymentBenefitObligationsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the costs related to the various types of retirement plans including defined benefit pension plan cost, defined contribution plan cost, other postretirement benefit plan cost, and net periodic benefit cost. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 20 -Topic 715 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfCostsOfRetirementPlansTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in plan assets and benefit obligations recognized in other comprehensive income (loss) during the period. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (f) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration