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Segment Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information
Our chief executive officer is our chief operating decision maker. Our CODM regularly reviews the performance of our business by four industry-based operating segments, which are our four reportable business segments: Health Sciences, Financial Services, Products and Resources, and Communications, Media and Technology.
We have an industry-led go-to-market strategy, with client partners, account executives and client relationship managers aligned to the specific industries they serve. Our CODM is regularly provided segment revenues and operating profit, including budget‑to‑actual variances in segment revenue, to formulate industry-focused strategic priorities, allocate financial resources, set targets and key performance indicators, and evaluate the results of such strategies. These strategic priorities, targets and key performance indicators are translated and applied to each client account, rolling up to respective industry-based operating segments. Our hiring and deployment plans are devised according to the strategic priorities and targets set for the client accounts.
Revenue from a client is directly identified with the operating segment with which the client is most closely aligned. Generally, operating expenses for each operating segment have similar characteristics and are subject to the same factors, pressures and challenges. However, the economic environment and its effects on industries served by the operating segments may affect revenues and operating expenses to differing degrees. Segment operating profit is the income from operations before unallocated costs.
In the first quarter of 2025, we made certain changes to the internal measurement of segment operating profit for the purpose of evaluating segment performance and resource allocation. The primary reason for the change was to reflect a more complete cost of delivery. Specifically, segment operating profit now includes an allocation of certain corporate costs, which were previously included in "unallocated costs." We have reported 2025 segment operating profits using the new allocation methodology and have recast the 2024 results to conform to the new methodology.
Our CODM is not regularly provided with segment expenses. A portion of depreciation and amortization, certain corporate costs, the impact of the settlements of the cash flow hedges, the gain on the sale of property and equipment and expenses related to our NextGen program are not allocated to individual segments. Accordingly, such expenses are excluded from segment operating profit and are included below as “unallocated costs” and adjusted against our total income from operations.
We do not disclose assets by segment as a significant portion of the assets is used interchangeably among the segments and our CODM is not provided such information.
Information by reportable segment were as follows:
Three Months Ended June 30, 2025
Six Months Ended June 30, 2025
(in millions)
HS
FS
P&R
CMT
Total
HS
FS
P&R
CMT
Total
Revenues
$1,551 $1,547 $1,306 $841 $5,245 $3,122 $3,009 $2,584 $1,645 $10,360 
Less: other segment items
1,248 1,293 1,119 726 4,386 2,513 2,501 2,192 1,438 8,644 
Segment operating profit$303 $254 $187 $115 $859 $609 $508 $392 $207 $1,716 
Less: unallocated costs42 46 
Income from operations$817 $1,670 
Three Months Ended June 30, 2024
Six Months Ended June 30, 2024
(in millions)
HS
FS
P&R
CMT
Total
HSFSP&RCMTTotal
Revenues
$1,461 $1,447 $1,126 $816 $4,850 $2,877 $2,832 $2,259 $1,642 $9,610 
Less: other segment items
1,187 1,239 947 727 4,100 2,341 2,416 1,899 1,463 8,119 
Segment operating profit$274 $208 $179 $89 $750 $536 $416 $360 $179 $1,491 
Less: unallocated costs42 88 
Income from operations$708 $1,403 
Other segment items for each reportable segment primarily include employee compensation and benefits, subcontractor costs, costs of third-party products and services related to revenue and project-related travel.
Geographic Area Information
Long-lived assets by geographic area are as follows:
As of
 (in millions)June 30, 2025December 31, 2024
Long-lived Assets: (1)
North America(2)
$319 $338 
Europe75 72 
Rest of World (3)
582 584 
Total$976 $994 
(1)Long-lived assets include property and equipment, net of accumulated depreciation and amortization.
(2)Substantially all relates to the United States.
(3)Substantially all relates to India.