XML 148 R43.htm IDEA: XBRL DOCUMENT v3.25.2

SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 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 June 30,
			2025																								2024
			MA						MIS						Eliminations						Consolidated						MA						MIS						Eliminations						Consolidated
Total external revenue			$	888					$	1,010					$	—					$	1,898					$	802					$	1,015					$	—					$	1,817
Intersegment revenue			3						50						(53)						—						4						49						(53)						—
Revenue			891						1,060						(53)						1,898						806						1,064						(53)						1,817
Compensation expense			355						280						—						635						336						277						—						613
Non-compensation expense			200						97						—						297						191						111						—						302
Intersegment expense			50						3						(53)						—						49						4						(53)						—
Operating, SG&A			605						380						(53)						932						576						392						(53)						915
Adjusted Operating Income			$	286					$	680					$	—					$	966					$	230					$	672					$	—					$	902
Less:
Depreciation and amortization			97						23						—						120						90						20						—						110
Restructuring			18						9						—						27						1						1						—						2
Charges related to asset abandonment			1						—						—						1						15						—						—						15
Operating Income																					$	818																							$	775
Non-operating (expense) income, net																					$	(46)																							$	(56)
Income before provision for income taxes																					$	772																							$	719
			Six Months Ended June 30,
			2025																								2024
			MA						MIS						Eliminations						Consolidated						MA						MIS						Eliminations						Consolidated
Total external revenue			$	1,747					$	2,075					$	—					$	3,822					$	1,601					$	2,002					$	—					$	3,603
Intersegment revenue			6						99						(105)						—						7						96						(103)						—
Revenue			1,753						2,174						(105)						3,822						1,608						2,098						(103)						3,603
Compensation expense			717						560						—						1,277						673						549						—						1,222
Non-compensation expense			392						193						—						585						371						202						—						573
Intersegment expense			99						6						(105)						—						96						7						(103)						—
Operating, SG&A			1,208						759						(105)						1,862						1,140						758						(103)						1,795
Adjusted Operating Income			$	545					$	1,415					$	—					$	1,960					$	468					$	1,340					$	—					$	1,808
Less:
Depreciation and amortization			191						42						—						233						172						38						—						210
Restructuring			44						16						—						60						3						4						—						7
Charges related to asset abandonment			3						—						—						3						15						—						—						15
Operating Income																					$	1,664																							$	1,576
Non-operating (expense) income, net																					$	(88)																							$	(105)
Income before provision for income taxes																					$	1,576																							$	1,471

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 June 30,												Six months ended June 30,												Cumulative expense incurred
			2025						2024						2025						2024
Strategic and Operational Efficiency Restructuring Program
Employee termination and other related costs (1)			$	23					$	—					$	54					$	—					$	99
Real estate related costs (2)			2						—						4						—						4
Internally developed software-related charges (3)			2						—						2						—						2
Total Restructuring			$	27					$	—					$	60					$	—					$	105

(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.

(3) Includes the non-cash acceleration of amortization of internally developed software that has been abandoned.

The table below shows cumulative restructuring expense incurred through June 30, 2025 by reportable segment.

			MA						MIS						Total
Strategic and Operational Efficiency Restructuring Program			$	78					$	27					$	105

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 June 30,												Six Months Ended June 30,
			2025						2024						2025						2024
MA:
U.S.			$	381					$	338					$	756					$	675
Non-U.S.:
EMEA			347						319						678						635
Asia-Pacific			92						82						180						167
Americas			68						63						133						124
Total Non-U.S.			507						464						991						926
Total MA			888						802						1,747						1,601
MIS:
U.S.			611						636						1,301						1,268
Non-U.S.:
EMEA			266						247						504						473
Asia-Pacific			82						82						161						152
Americas			51						50						109						109
Total Non-U.S.			399						379						774						734
Total MIS			1,010						1,015						2,075						2,002
Total MCO			$	1,898					$	1,817					$	3,822					$	3,603

    

			Three Months Ended June 30,												Six Months Ended June 30,
			2025						2024						2025						2024
United States			$	992					$	974					$	2,057					$	1,943
Non-U.S.:
EMEA			613						566						1,182						1,108
Asia-Pacific			174						164						341						319
Americas			119						113						242						233
Total Non-U.S.			906						843						1,765						1,660
Total			$	1,898					$	1,817					$	3,822					$	3,603

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 5.P.3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479823/420-10-S99-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

+ Details

Name:	us-gaap_ScheduleOfRestructuringAndRelatedCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

+ Details

Name:	us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration