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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2025
Income Tax Disclosure [Abstract] |
Schedule of Income Tax Expense (Benefit) | Income tax expense (benefit) attributable to continuing operations for the years ended December 31, 2025, 2024 and 2023, consists of the following (in millions):
| 2025 |  | 2024 |  | 2023
Current provision (benefit): |  |  |  |  |
Federal | $ | 138 |  |  | $ | 357 |  |  | $ | 235 |
State | 41 |  |  | 103 |  |  | 96 |
Foreign | 141 |  |  | 109 |  |  | 96 |
Total current provision | $ | 320 |  |  | $ | 569 |  |  | $ | 427 |
Deferred provision (benefit): |  |  |  |  |
Federal | $ | (23) |  |  | $ | (183) |  |  | $ | (193) |
State | 8 |  |  | (41) |  |  | (73) |
Foreign | (40) |  |  | 17 |  |  | (4) |
Total deferred provision | (55) |  |  | (207) |  |  | (270) |
Total provision for income taxes | $ | 265 |  |  | $ | 362 |  |  | $ | 157 |
Total income tax expense (benefit) attributable to continuing and discontinued operations for the years ended December 31, 2025, 2024 and 2023, is allocated as follows (in millions):
| 2025 |  | 2024 |  | 2023
Tax expense (benefit) per statements of earnings (loss) | $ | 265 |  |  | $ | 362 |  |  | $ | 157 |
Tax expense (benefit) on income from discontinued operations | — |  |  | (1,062) |  |  | (301) |
Change in fair value of net investment hedges | (168) |  |  | 91 |  |  | (176) |
Foreign currency translation adjustments | — |  |  | — |  |  | 40 |
Share of equity method investment | 49 |  |  | (11) |  |  | — |
Other components of other comprehensive earnings (loss) | (28) |  |  | 8 |  |  | 20 |
Total income tax expense (benefit) allocated to other comprehensive earnings | (147) |  |  | 88 |  |  | (116) |
Total income tax expense (benefit) | $ | 118 |  |  | $ | (612) |  |  | $ | (260) |
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, 2025, 2024 and 2023 (in millions):
| 2025 |  | 2024 |  | 2023
United States | $ | 864 |  |  | $ | 920 |  |  | $ | 330 |
Foreign | 312 |  |  | 377 |  |  | 332 |
Total | $ | 1,176 |  |  | $ | 1,297 |  |  | $ | 662 |
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, 2025, 2024 and 2023, after the adoption of ASU 2023-09, is as follows:
|  | 2025 |  | 2024 |  | 2023
|  | Amount |  | Percent |  | Amount |  | Percent |  | Amount |  | Percent
U.S. Federal statutory tax rate |  | $ | 247 |  |  | 21.0 | % |  | $ | 272 |  |  | 21.0 | % |  | $ | 139 |  |  | 21.0 | %
State and local income taxes, net of federal income tax effect (a) |  | 39 |  |  | 3.3 |  |  | 48 |  |  | 3.7 |  |  | 28 |  |  | 4.2 |
Foreign tax effects |  |  |  |  |  |  |  |  |  |  |  |
India |  |  |  |  |  |  |  |  |  |  |  |
Withholding tax |  | 12 |  |  | 1.0 |  |  | 24 |  |  | 1.8 |  |  | 16 |  |  | 2.4 |
Other |  | 4 |  |  | 0.3 |  |  | 4 |  |  | 0.3 |  |  | 1 |  |  | 0.2 |
Hong Kong |  |  |  |  |  |  |  |  |  |  |  |
Nontaxable interest |  | — |  |  | — |  |  | (10) |  |  | (0.8) |  |  | (10) |  |  | (1.5) |
Other |  | — |  |  | — |  |  | (3) |  |  | (0.2) |  |  | (3) |  |  | (0.4) |
Bermuda |  |  |  |  |  |  |  |  |  |  |  |
Statutory rate difference between Bermuda and U.S. |  | (13) |  |  | (1.1) |  |  | — |  |  | — |  |  | — |  |  | — |
Other foreign jurisdictions |  | 26 |  |  | 2.2 |  |  | 38 |  |  | 2.9 |  |  | 22 |  |  | 3.3 |
Effect of cross-border tax laws |  |  |  |  |  |  |  |  |  |  |  |
Global intangible low-taxed income |  | 18 |  |  | 1.5 |  |  | 14 |  |  | 1.1 |  |  | 7 |  |  | 1.1 |
Foreign-derived intangible income |  | (28) |  |  | (2.4) |  |  | (30) |  |  | (2.3) |  |  | (30) |  |  | (4.5) |
Other |  | 14 |  |  | 1.2 |  |  | 4 |  |  | 0.3 |  |  | — |  |  | — |
Tax credits |  |  |  |  |  |  |  |  |  |  |  |
Research and development credits |  | (15) |  |  | (1.2) |  |  | (15) |  |  | (1.2) |  |  | (12) |  |  | (1.8) |
Foreign tax credits |  | (39) |  |  | (3.3) |  |  | — |  |  | — |  |  | — |  |  | — |
Other |  | — |  |  | — |  |  | — |  |  | — |  |  | (7) |  |  | (1.1) |
Changes in valuation allowances |  | 6 |  |  | 0.5 |  |  | — |  |  | — |  |  | — |  |  | — |
Nontaxable or nondeductible items |  |  |  |  |  |  |  |  |  |  |  |
Tax loss (benefit) from stock-based compensation |  | 17 |  |  | 1.4 |  |  | 15 |  |  | 1.2 |  |  | 16 |  |  | 2.4 |
Other |  | 1 |  |  | 0.1 |  |  | 1 |  |  | 0.1 |  |  | 1 |  |  | 0.2 |
Changes in unrecognized tax benefits |  | 10 |  |  | 0.9 |  |  | (3) |  |  | (0.2) |  |  | (1) |  |  | (0.2) |
Other adjustments |  |  |  |  |  |  |  |  |  |  |  |
Return to provision |  | (17) |  |  | (1.4) |  |  | — |  |  | — |  |  | (14) |  |  | (2.1) |
Changes in capital losses |  | (15) |  |  | (1.3) |  |  | — |  |  | — |  |  | — |  |  | — |
Other |  | (2) |  |  | (0.2) |  |  | 3 |  |  | 0.2 |  |  | 4 |  |  | 0.6 |
Effective income tax rate |  | $ | 265 |  |  | 22.5 | % |  | $ | 362 |  |  | 27.9 | % |  | $ | 157 |  |  | 23.8 | %
(a)The jurisdictions that make up the majority (greater than 50%) of the tax effect in this category include New York City, New Jersey, California, and Florida for 2025; Florida, New York, California, Illinois, and New York City for 2024; and Florida, California, New York, Illinois, and New York City for 2023.
Schedule of Deferred Income Tax Assets and Liabilities | The significant components of deferred income tax assets and liabilities as of December 31, 2025 and 2024, consist of the following (in millions):
| 2025 |  | 2024
Deferred income tax assets: |  |  |
Net operating loss carryforwards | $ | 490 |  |  | $ | 364 |
Capital loss carryforwards | 136 |  |  | 220 |
Employee benefit accruals | 97 |  |  | 115 |
Equity method investment | 363 |  |  | — |
Other deferred tax assets | 292 |  |  | 170 |
Total gross deferred income tax assets | 1,378 |  |  | 869 |
Less valuation allowance | (914) |  |  | (505) |
Total deferred income tax assets | 464 |  |  | 364 |
Deferred income tax liabilities: |  |  |
Equity method investment | (498) |  |  | (15) |
Amortization of goodwill and intangible assets | (695) |  |  | (707) |
Deferred contract costs | (298) |  |  | (259) |
Other deferred tax liabilities | (161) |  |  | (232) |
Total deferred income tax liabilities | (1,652) |  |  | (1,213) |
Net deferred income tax liability | $ | (1,188) |  |  | $ | (849) |
Deferred income taxes are classified in the consolidated balance sheets as of December 31, 2025 and 2024, as follows (in millions):
| 2025 |  | 2024
Noncurrent deferred income tax assets (included in Other noncurrent assets) | $ | 27 |  |  | $ | 14 |
Noncurrent deferred income tax liabilities | (1,215) |  |  | (863) |
Net deferred income tax liability | $ | (1,188) |  |  | $ | (849) |
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
Unrecognized tax benefits as of December 31, 2023 | $ | 41 |
Decreases due to lapse of the applicable statute of limitations | (6) |
Increases due to settlements | 4 |
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 | 6 |
Unrecognized tax benefit as of December 31, 2024 | 49 |
Decreases due to lapse of the applicable statute of limitations | (1) |
Decreases due to settlements | (2) |
Decreases as a result of tax positions taken in prior period | (13) |
Increases as a result of tax positions taken in the current period | 27 |
Unrecognized tax benefit as of December 31, 2025 | $ | 60 |
Schedule of Cash Flow, Supplemental Disclosures | The following table summarizes the cash payments for income taxes for the period ended December 31, 2025, 2024, and 2023 as follows (in millions):
|  | 2025 |  | 2024 |  | 2023
Federal |  | $ | 395 |  |  | $ | 288 |  |  | $ | 159 |
State |  | 60 |  |  | 90 |  |  | 85 |
Foreign |  |  |  |  |  |
United Kingdom |  | 44 |  |  | 35 |  |  | 52 |
Other foreign jurisdictions |  | 129 |  |  | 75 |  |  | 106 |
Total |  | $ | 628 |  |  | $ | 488 |  |  | $ | 402 |

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