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SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 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 September 30,
			2025																								2024
			MA						MIS						Eliminations						Consolidated						MA						MIS						Eliminations						Consolidated
Total external revenue			$	909					$	1,098					$	—					$	2,007					$	831					$	982					$	—					$	1,813
Intersegment revenue			3						50						(53)						—						3						48						(51)						—
Revenue			912						1,148						(53)						2,007						834						1,030						(51)						1,813
Compensation expense			352						283						—						635						350						318						—						668
Non-compensation expense			197						113						—						310						183						95						—						278
Intersegment expense			50						3						(53)						—						48						3						(51)						—
Operating, SG&A			599						399						(53)						945						581						416						(51)						946
Adjusted Operating Income			$	313					$	749					$	—					$	1,062					$	253					$	614					$	—					$	867
Less:
Depreciation and amortization			101						22						—						123						88						20						—						108
Restructuring			15						6						—						21						4						2						—						6
Charges related to asset abandonment			1						—						—						1						15						—						—						15
Operating Income																					$	917																							$	738
Non-operating (expense) income, net																					$	(50)																							$	(35)
Income before provision for income taxes																					$	867																							$	703
			Nine Months Ended September 30,
			2025																								2024
			MA						MIS						Eliminations						Consolidated						MA						MIS						Eliminations						Consolidated
Total external revenue			$	2,656					$	3,173					$	—					$	5,829					$	2,432					$	2,984					$	—					$	5,416
Intersegment revenue			9						149						(158)						—						10						144						(154)						—
Revenue			2,665						3,322						(158)						5,829						2,442						3,128						(154)						5,416
Compensation expense			1,069						843						—						1,912						1,023						867						—						1,890
Non-compensation expense			589						306						—						895						554						297						—						851
Intersegment expense			149						9						(158)						—						144						10						(154)						—
Operating, SG&A			1,807						1,158						(158)						2,807						1,721						1,174						(154)						2,741
Adjusted Operating Income			$	858					$	2,164					$	—					$	3,022					$	721					$	1,954					$	—					$	2,675
Less:
Depreciation and amortization			292						64						—						356						260						58						—						318
Restructuring			59						22						—						81						7						6						—						13
Charges related to asset abandonment			4						—						—						4						30						—						—						30
Operating Income																					$	2,581																							$	2,314
Non-operating (expense) income, net																					$	(138)																							$	(140)
Income before provision for income taxes																					$	2,443																							$	2,174

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 September 30,												Nine months ended September 30,												Cumulative expense incurred
			2025						2024						2025						2024
Strategic and Operational Efficiency Restructuring Program
Employee termination and other related costs (1)			$	21					$	—					$	75					$	—					$	120
Real estate related costs (2)			—						—						4						—						4
Internally developed software-related charges (3)			—						—						2						—						2
Total Restructuring			$	21					$	—					$	81					$	—					$	126

(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 September 30, 2025 by reportable segment.

			MA						MIS						Total
Strategic and Operational Efficiency Restructuring Program			$	93					$	33					$	126

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 September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
MA:
U.S.			$	386					$	346					$	1,142					$	1,021
Non-U.S.:
EMEA			358						334						1,036						969
Asia-Pacific			96						84						276						251
Americas			69						67						202						191
Total Non-U.S.			523						485						1,514						1,411
Total MA			909						831						2,656						2,432
MIS:
U.S.			732						653						2,033						1,921
Non-U.S.:
EMEA			236						212						740						685
Asia-Pacific			84						73						245						225
Americas			46						44						155						153
Total Non-U.S.			366						329						1,140						1,063
Total MIS			1,098						982						3,173						2,984
Total MCO			$	2,007					$	1,813					$	5,829					$	5,416

    

			Three Months Ended September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
United States			$	1,118					$	999					$	3,175					$	2,942
Non-U.S.:
EMEA			594						546						1,776						1,654
Asia-Pacific			180						157						521						476
Americas			115						111						357						344
Total Non-U.S.			889						814						2,654						2,474
Total			$	2,007					$	1,813					$	5,829					$	5,416

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.

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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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