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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Income Tax Expense (Benefit) | Income tax expense (benefit) attributable to continuing operations for the years ended December 31, 2024, 2023 and 2022, consists of the following (in millions):
| 2024 |  | 2023 |  | 2022
Current provision (benefit): |  |  |  |  |
Federal | $ | 357 |  |  | $ | 235 |  |  | $ | 458 |
State | 103 |  |  | 96 |  |  | 130 |
Foreign | 109 |  |  | 96 |  |  | 84 |
Total current provision | $ | 569 |  |  | $ | 427 |  |  | $ | 672 |
Deferred provision (benefit): |  |  |  |  |
Federal | $ | (183) |  |  | $ | (193) |  |  | $ | (319) |
State | (41) |  |  | (73) |  |  | (54) |
Foreign | 17 |  |  | (4) |  |  | 15 |
Total deferred provision | (207) |  |  | (270) |  |  | (358) |
Total provision for income taxes | $ | 362 |  |  | $ | 157 |  |  | $ | 314 |
Total income tax expense (benefit) attributable to continuing and discontinued operations for the years ended December 31, 2024, 2023 and 2022, is allocated as follows (in millions):
| 2024 |  | 2023 |  | 2022
Tax expense (benefit) per statements of earnings (loss) | $ | 362 |  |  | $ | 157 |  |  | $ | 314 |
Tax expense (benefit) on income from discontinued operations | (1,062) |  |  | (301) |  |  | 52 |
Change in fair value of net investment hedges | 91 |  |  | (176) |  |  | 361 |
Foreign currency translation adjustments | — |  |  | 40 |  |  | (360) |
Share of equity method investment | (11) |  |  | — |  |  | — |
Other components of other comprehensive earnings (loss) | 8 |  |  | 20 |  |  | 3 |
Total income tax expense (benefit) allocated to other comprehensive earnings | 88 |  |  | (116) |  |  | 4 |
Total income tax expense (benefit) | $ | (612) |  |  | $ | (260) |  |  | $ | 370 |
Schedule of Pre-tax Income from Continuing Operations | The provision for income taxes is based on pre-tax income from continuing operations, which is as follows for the years ended December 31, 2024, 2023 and 2022 (in millions):
| 2024 |  | 2023 |  | 2022
United States | $ | 920 |  |  | $ | 330 |  |  | $ | 718 |
Foreign | 377 |  |  | 332 |  |  | 180 |
Total | $ | 1,297 |  |  | $ | 662 |  |  | $ | 898 |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the federal statutory income tax rate to the Company's effective income tax rate for the years ended December 31, 2024, 2023 and 2022, is as follows:
| 2024 |  | 2023 |  | 2022
Federal statutory income tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State income taxes | 4.7 |  |  | 5.7 |  |  | 6.5 |
Federal benefit of state taxes | (1.0) |  |  | (1.0) |  |  | (1.3) |
Foreign rate differential | 1.1 |  |  | 0.8 |  |  | 2.9 |
Withholding on actual and estimated remittances | 2.4 |  |  | 2.4 |  |  | 1.2 |
Tax loss (benefit) from stock-based compensation | 0.7 |  |  | 2.3 |  |  | 4.0 |
U.K. tax rate adjustment | — |  |  | (0.1) |  |  | 0.3 |
Non-deductible executive compensation | 0.6 |  |  | 0.6 |  |  | 0.3 |
Foreign-derived intangible income deduction | (2.3) |  |  | (4.4) |  |  | (2.4) |
U.S. tax on foreign earnings | 1.4 |  |  | 1.0 |  |  | 0.4 |
Research and development credit | (1.1) |  |  | (1.8) |  |  | — |
Unrecognized tax benefits | (0.3) |  |  | (0.4) |  |  | (0.4) |
Return to provision | — |  |  | (1.7) |  |  | — |
Other | 0.7 |  |  | (0.6) |  |  | 2.5 |
Effective income tax rate | 27.9 | % |  | 23.8 | % |  | 35.0 | %
Schedule of Deferred Income Tax Assets and Liabilities | The significant components of deferred income tax assets and liabilities as of December 31, 2024 and 2023, consist of the following (in millions):
| 2024 |  | 2023
Deferred income tax assets: |  |  |
Net operating loss carryforwards | $ | 364 |  |  | $ | 219 |
Capital loss carryforwards | 220 |  |  | — |
Employee benefit accruals | 115 |  |  | 105 |
Outside basis difference | — |  |  | 919 |
Other deferred tax assets | 170 |  |  | 95 |
Total gross deferred income tax assets | 869 |  |  | 1,338 |
Less valuation allowance | (505) |  |  | (1,055) |
Total deferred income tax assets | 364 |  |  | 283 |
Deferred income tax liabilities: |  |  |
Equity method investments | (15) |  |  | — |
Amortization of goodwill and intangible assets | (707) |  |  | (2,066) |
Deferred contract costs | (259) |  |  | (245) |
Other deferred tax liabilities | (232) |  |  | (121) |
Total deferred income tax liabilities | (1,213) |  |  | (2,432) |
Net deferred income tax liability | $ | (849) |  |  | $ | (2,149) |
Deferred income taxes are classified in the consolidated balance sheets as of December 31, 2024 and 2023, as follows (in millions):
| 2024 |  | 2023
Noncurrent deferred income tax assets (included in Other noncurrent assets) | $ | 14 |  |  | $ | 30 |
Noncurrent deferred income tax liabilities | (863) |  |  | (2,179) |
Net deferred income tax liability | $ | (849) |  |  | $ | (2,149) |
Schedule of Unrecognized Tax Benefits Roll Forward | The following table reconciles the gross amounts of unrecognized tax benefits at the beginning and end of the period (in millions):
| Gross Amount
Amounts of unrecognized tax benefits as of December 31, 2022 | $ | 48 |
Amount of decreases due to lapse of the applicable statute of limitations | (5) |
Amount of decreases due to settlements | (8) |
Increases as a result of tax positions taken in the prior period | 4 |
Increases as a result of tax positions taken in the current period | 2 |
Amount of unrecognized tax benefit as of December 31, 2023 | 41 |
Amount of decreases due to lapse of the applicable statute of limitations | (6) |
Amount of decreases due to settlements | 4 |
Increases as a result of tax positions taken in prior period | 4 |
Increases as a result of tax positions taken in the current period | 6 |
Amount of unrecognized tax benefit as of December 31, 2024 | $ | 49 |

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