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v3.24.3

Revenues and Trade Accounts Receivable (Tables) | 9 Months Ended
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Sep. 30, 2024
Revenue from Contract with Customer [Abstract] |
Capitalized Costs to Fulfill Contract with Customer | The following table shows significant movements in the capitalized costs to fulfill for the nine months ended September 30:
(in millions) |  | 2024 |  | 2023
Beginning balance |  | $ | 245 |  |  | $ | 265 |
Costs capitalized |  | 43 |  |  | 41 |
Amortization expense |  | (69) |  |  | (64) |
Ending balance |  | $ | 219 |  |  | $ | 242 |
Costs to obtain contracts were immaterial for the periods disclosed.
Contract with Customer, Asset and Liability | The table below shows significant movements in contract assets (current and noncurrent) for the nine months ended September 30:
(in millions) |  | 2024 |  | 2023
Beginning balance |  | $ | 316 |  |  | $ | 326 |
Revenues recognized during the period but not billed |  | 377 |  |  | 370 |
Amounts reclassified to trade accounts receivable |  | (270) |  |  | (316) |
Amounts acquired in business combinations |  | — |  |  | 9 |
Ending balance |  | $ | 423 |  |  | $ | 389 |
The table below shows significant movements in the deferred revenue balances (current and noncurrent) for the nine months ended September 30:
(in millions) |  | 2024 |  | 2023
Beginning balance |  | $ | 427 |  |  | $ | 417 |
Amounts billed but not recognized as revenues |  | 298 |  |  | 228 |
Revenues recognized related to the beginning balance of deferred revenue |  | (354) |  |  | (322) |
Amounts acquired in business combinations |  | 12 |  |  | 13 |
Ending balance |  | $ | 383 |  |  | $ | 336 |
Disaggregation of Revenue |
|  | Three Months Ended September 30, 2024 |  | Nine Months Ended September 30, 2024
(in millions) |  | FS |  | HS |  | P&R |  | CMT |  | Total |  | FS |  | HS |  | P&R |  | CMT |  | Total
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Geography: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 1,048 |  |  | $ | 1,295 |  |  | $ | 828 |  |  | $ | 564 |  |  | $ | 3,735 |  |  | $ | 3,064 |  |  | $ | 3,756 |  |  | $ | 2,362 |  |  | $ | 1,694 |  |  | $ | 10,876 |
United Kingdom |  | 147 |  |  | 47 |  |  | 157 |  |  | 131 |  |  | 482 |  |  | 428 |  |  | 138 |  |  | 415 |  |  | 401 |  |  | 1,382 |
Continental Europe |  | 156 |  |  | 143 |  |  | 154 |  |  | 32 |  |  | 485 |  |  | 457 |  |  | 413 |  |  | 447 |  |  | 121 |  |  | 1,438 |
Europe - Total |  | 303 |  |  | 190 |  |  | 311 |  |  | 163 |  |  | 967 |  |  | 885 |  |  | 551 |  |  | 862 |  |  | 522 |  |  | 2,820 |
Rest of World |  | 135 |  |  | 29 |  |  | 89 |  |  | 89 |  |  | 342 |  |  | 369 |  |  | 84 |  |  | 263 |  |  | 242 |  |  | 958 |
Total |  | $ | 1,486 |  |  | $ | 1,514 |  |  | $ | 1,228 |  |  | $ | 816 |  |  | $ | 5,044 |  |  | $ | 4,318 |  |  | $ | 4,391 |  |  | $ | 3,487 |  |  | $ | 2,458 |  |  | $ | 14,654 |
Service line: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consulting and technology services |  | $ | 1,051 |  |  | $ | 895 |  |  | $ | 833 |  |  | $ | 447 |  |  | $ | 3,226 |  |  | $ | 3,025 |  |  | $ | 2,560 |  |  | $ | 2,297 |  |  | $ | 1,373 |  |  | $ | 9,255 |
Outsourcing services |  | 435 |  |  | 619 |  |  | 395 |  |  | 369 |  |  | 1,818 |  |  | 1,293 |  |  | 1,831 |  |  | 1,190 |  |  | 1,085 |  |  | 5,399 |
Total |  | $ | 1,486 |  |  | $ | 1,514 |  |  | $ | 1,228 |  |  | $ | 816 |  |  | $ | 5,044 |  |  | $ | 4,318 |  |  | $ | 4,391 |  |  | $ | 3,487 |  |  | $ | 2,458 |  |  | $ | 14,654 |
Type of contract: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Time and materials |  | $ | 833 |  |  | $ | 499 |  |  | $ | 511 |  |  | $ | 439 |  |  | $ | 2,282 |  |  | $ | 2,421 |  |  | $ | 1,486 |  |  | $ | 1,428 |  |  | $ | 1,336 |  |  | $ | 6,671 |
Fixed-price |  | 608 |  |  | 738 |  |  | 627 |  |  | 327 |  |  | 2,300 |  |  | 1,761 |  |  | 2,111 |  |  | 1,803 |  |  | 994 |  |  | 6,669 |
Transaction or volume-based |  | 45 |  |  | 277 |  |  | 90 |  |  | 50 |  |  | 462 |  |  | 136 |  |  | 794 |  |  | 256 |  |  | 128 |  |  | 1,314 |
Total |  | $ | 1,486 |  |  | $ | 1,514 |  |  | $ | 1,228 |  |  | $ | 816 |  |  | $ | 5,044 |  |  | $ | 4,318 |  |  | $ | 4,391 |  |  | $ | 3,487 |  |  | $ | 2,458 |  |  | $ | 14,654 |
|  | Three Months Ended September 30, 2023 |  | Nine Months Ended September 30, 2023
(in millions) |  | FS |  | HS |  | P&R |  | CMT |  | Total |  | FS |  | HS |  | P&R |  | CMT |  | Total
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Geography: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 1,040 |  |  | $ | 1,194 |  |  | $ | 785 |  |  | $ | 580 |  |  | $ | 3,599 |  |  | $ | 3,100 |  |  | $ | 3,675 |  |  | $ | 2,306 |  |  | $ | 1,652 |  |  | $ | 10,733 |
United Kingdom |  | 156 |  |  | 43 |  |  | 137 |  |  | 150 |  |  | 486 |  |  | 473 |  |  | 124 |  |  | 406 |  |  | 434 |  |  | 1,437 |
Continental Europe |  | 151 |  |  | 139 |  |  | 153 |  |  | 41 |  |  | 484 |  |  | 458 |  |  | 398 |  |  | 463 |  |  | 120 |  |  | 1,439 |
Europe - Total |  | 307 |  |  | 182 |  |  | 290 |  |  | 191 |  |  | 970 |  |  | 931 |  |  | 522 |  |  | 869 |  |  | 554 |  |  | 2,876 |
Rest of World |  | 128 |  |  | 29 |  |  | 95 |  |  | 76 |  |  | 328 |  |  | 383 |  |  | 81 |  |  | 290 |  |  | 232 |  |  | 986 |
Total |  | $ | 1,475 |  |  | $ | 1,405 |  |  | $ | 1,170 |  |  | $ | 847 |  |  | $ | 4,897 |  |  | $ | 4,414 |  |  | $ | 4,278 |  |  | $ | 3,465 |  |  | $ | 2,438 |  |  | $ | 14,595 |
Service line: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consulting and technology services |  | $ | 1,013 |  |  | $ | 806 |  |  | $ | 763 |  |  | $ | 440 |  |  | $ | 3,022 |  |  | $ | 3,019 |  |  | $ | 2,440 |  |  | $ | 2,258 |  |  | $ | 1,318 |  |  | $ | 9,035 |
Outsourcing services |  | 462 |  |  | 599 |  |  | 407 |  |  | 407 |  |  | 1,875 |  |  | 1,395 |  |  | 1,838 |  |  | 1,207 |  |  | 1,120 |  |  | 5,560 |
Total |  | $ | 1,475 |  |  | $ | 1,405 |  |  | $ | 1,170 |  |  | $ | 847 |  |  | $ | 4,897 |  |  | $ | 4,414 |  |  | $ | 4,278 |  |  | $ | 3,465 |  |  | $ | 2,438 |  |  | $ | 14,595 |
Type of contract: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Time and materials |  | $ | 806 |  |  | $ | 513 |  |  | $ | 471 |  |  | $ | 471 |  |  | $ | 2,261 |  |  | $ | 2,478 |  |  | $ | 1,520 |  |  | $ | 1,391 |  |  | $ | 1,395 |  |  | $ | 6,784 |
Fixed-price |  | 611 |  |  | 640 |  |  | 610 |  |  | 328 |  |  | 2,189 |  |  | 1,764 |  |  | 1,945 |  |  | 1,807 |  |  | 926 |  |  | 6,442 |
Transaction or volume-based |  | 58 |  |  | 252 |  |  | 89 |  |  | 48 |  |  | 447 |  |  | 172 |  |  | 813 |  |  | 267 |  |  | 117 |  |  | 1,369 |
Total |  | $ | 1,475 |  |  | $ | 1,405 |  |  | $ | 1,170 |  |  | $ | 847 |  |  | $ | 4,897 |  |  | $ | 4,414 |  |  | $ | 4,278 |  |  | $ | 3,465 |  |  | $ | 2,438 |  |  | $ | 14,595 |
Reinsurance Recoverable, Allowance for Credit Loss | The following table presents the activity in the allowance for credit losses for trade accounts receivable for the nine months ended September 30:
(in millions) |  | 2024 |  | 2023
Beginning balance |  | $ | 32 |  |  | $ | 43 |
Credit loss expense (1) |  | 7 |  |  | 11 |
Write-offs charged against the allowance |  | (9) |  |  | (18) |
Ending balance |  | $ | 30 |  |  | $ | 36 |
(1)Reported in "Selling, general and administrative expenses" in our unaudited consolidated statements of operations.

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