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SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Financial Information by Segment

The table below shows 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 used in our budgeting and forecasting process, enabling the allocation of capital resources across the Company's strategic initiatives.

			Three Months Ended March 31,
			2025																								2024
			MA						MIS						Eliminations						Consolidated						MA						MIS						Eliminations						Consolidated
Total external revenue			$	859					$	1,065					$	—					$	1,924					$	799					$	987					$	—					$	1,786
Intersegment revenue			3						49						(52)						—						3						47						(50)						—
Revenue			862						1,114						(52)						1,924						802						1,034						(50)						1,786
Compensation expense			362						280						—						642						337						272						—						609
Non-compensation expense			192						96						—						288						180						91						—						271
Intersegment expense			49						3						(52)						—						47						3						(50)						—
Operating, SG&A			603						379						(52)						930						564						366						(50)						880
Adjusted Operating Income			$	259					$	735					$	—					$	994					$	238					$	668					$	—					$	906
Add:
Depreciation and amortization			94						19						—						113						82						18						—						100
Restructuring			26						7						—						33						2						3						—						5
Charges related to asset abandonment			2						—						—						2						—						—						—						—
Operating Income																					$	846																							$	801
Non-operating (expense) income, net																					$	(42)																							$	(49)
Income before provision for income taxes																					$	804																							$	752

Restructuring Expenses Included in Consolidated Statements of Operations

Total expense included in the accompanying consolidated statements of operations relating to the aforementioned restructuring program is below:

			Three months ended March 31,																		Cumulative expense incurred
			2025						2024
Strategic and Operational Efficiency Restructuring Program
Employee termination and other related costs (1)			$	31					$	—																	$	76
Real estate related costs (2)			2						—																		2
Total Restructuring			$	33					$	—																	$	78

(1) Primarily includes severance costs, expense related to the modification of equity awards and professional service fees related to execution of the restructuring program.

(2) Includes the non-cash acceleration of amortization of ROU Assets that have been abandoned or for which abandonment is planned in future periods.

The table below shows cumulative restructuring expense incurred through March 31, 2025 by reportable segment.

			MA						MIS						Total
Strategic and Operational Efficiency Restructuring Program			$	60					$	18					$	78

Company's Reportable Segment Revenues Disaggregated by Segment and Geographic Region

The following table presents the Company’s reportable segment revenues disaggregated by segment and geographic region:

			Three Months Ended March 31,
			2025						2024
MA:
U.S.			$	375					$	337
Non-U.S.:
EMEA			331						316
Asia-Pacific			88						85
Americas			65						61
Total Non-U.S.			484						462
Total MA			859						799
MIS:
U.S.			690						632
Non-U.S.:
EMEA			238						226
Asia-Pacific			79						70
Americas			58						59
Total Non-U.S.			375						355
Total MIS			1,065						987
Total MCO			$	1,924					$	1,786

    

			Three Months Ended March 31,
			2025						2024
United States			$	1,065					$	969
Non-U.S.:
EMEA			569						542
Asia-Pacific			167						155
Americas			123						120
Total Non-U.S.			859						817
Total			$	1,924					$	1,786

X

- Definition

Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets.

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Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries.

+ References

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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