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Revenues and Trade Accounts Receivable | 6 Months Ended
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Jun. 30, 2026
Revenue from Contract with Customer [Abstract] |
Revenues and Trade Accounts Receivable | Disaggregation of Revenues The tables below present disaggregated revenues from contracts with clients by client location, service line and contract type for each of our reportable business segments. We believe this disaggregation best depicts how the nature, amount, timing and uncertainty of revenues and cash flows are affected by industry, market and other economic factors. Our consulting and technology services include consulting, application development, systems integration, quality engineering and assurance services as well as software solutions and related services while our outsourcing services include application maintenance, infrastructure and security as well as business process services. Revenues are attributed to geographic regions based upon client location, which is the client's billing address. Substantially all revenues in the North America region relate to clients in the United States.
|  | Three Months Ended June 30, 2026 |  | Six Months Ended June 30, 2026
(in millions) |  | HS |  | FS |  | P&R |  | CMT |  | Total |  | HS |  | FS |  | P&R |  | CMT |  | Total
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Geography: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 1,307 |  |  | $ | 1,263 |  |  | $ | 918 |  |  | $ | 639 |  |  | $ | 4,127 |  |  | $ | 2,618 |  |  | $ | 2,439 |  |  | $ | 1,834 |  |  | $ | 1,288 |  |  | $ | 8,179 |
United Kingdom |  | 60 |  |  | 165 |  |  | 151 |  |  | 116 |  |  | 492 |  |  | 117 |  |  | 336 |  |  | 315 |  |  | 233 |  |  | 1,001 |
Continental Europe |  | 164 |  |  | 167 |  |  | 171 |  |  | 33 |  |  | 535 |  |  | 332 |  |  | 333 |  |  | 332 |  |  | 68 |  |  | 1,065 |
Europe - Total |  | 224 |  |  | 332 |  |  | 322 |  |  | 149 |  |  | 1,027 |  |  | 449 |  |  | 669 |  |  | 647 |  |  | 301 |  |  | 2,066 |
Rest of World |  | 41 |  |  | 138 |  |  | 82 |  |  | 66 |  |  | 327 |  |  | 84 |  |  | 269 |  |  | 162 |  |  | 134 |  |  | 649 |
Total |  | $ | 1,572 |  |  | $ | 1,733 |  |  | $ | 1,322 |  |  | $ | 854 |  |  | $ | 5,481 |  |  | $ | 3,151 |  |  | $ | 3,377 |  |  | $ | 2,643 |  |  | $ | 1,723 |  |  | $ | 10,894 |
Service line: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consulting and technology services |  | $ | 925 |  |  | $ | 1,255 |  |  | $ | 900 |  |  | $ | 438 |  |  | $ | 3,518 |  |  | $ | 1,838 |  |  | $ | 2,440 |  |  | $ | 1,801 |  |  | $ | 930 |  |  | $ | 7,009 |
Outsourcing services |  | 647 |  |  | 478 |  |  | 422 |  |  | 416 |  |  | 1,963 |  |  | 1,313 |  |  | 937 |  |  | 842 |  |  | 793 |  |  | 3,885 |
Total |  | $ | 1,572 |  |  | $ | 1,733 |  |  | $ | 1,322 |  |  | $ | 854 |  |  | $ | 5,481 |  |  | $ | 3,151 |  |  | $ | 3,377 |  |  | $ | 2,643 |  |  | $ | 1,723 |  |  | $ | 10,894 |
Type of contract: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Time and materials |  | $ | 487 |  |  | $ | 848 |  |  | $ | 515 |  |  | $ | 455 |  |  | $ | 2,305 |  |  | $ | 961 |  |  | $ | 1,628 |  |  | $ | 1,038 |  |  | $ | 889 |  |  | $ | 4,516 |
Fixed-price |  | 803 |  |  | 825 |  |  | 718 |  |  | 344 |  |  | 2,690 |  |  | 1,609 |  |  | 1,633 |  |  | 1,431 |  |  | 741 |  |  | 5,414 |
Transaction or volume-based |  | 282 |  |  | 60 |  |  | 89 |  |  | 55 |  |  | 486 |  |  | 581 |  |  | 116 |  |  | 174 |  |  | 93 |  |  | 964 |
Total |  | $ | 1,572 |  |  | $ | 1,733 |  |  | $ | 1,322 |  |  | $ | 854 |  |  | $ | 5,481 |  |  | $ | 3,151 |  |  | $ | 3,377 |  |  | $ | 2,643 |  |  | $ | 1,723 |  |  | $ | 10,894 |
|  | 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 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Geography: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 1,298 |  |  | $ | 1,096 |  |  | $ | 918 |  |  | $ | 600 |  |  | $ | 3,912 |  |  | $ | 2,628 |  |  | $ | 2,139 |  |  | $ | 1,829 |  |  | $ | 1,170 |  |  | $ | 7,766 |
United Kingdom |  | 51 |  |  | 159 |  |  | 148 |  |  | 124 |  |  | 482 |  |  | 100 |  |  | 312 |  |  | 285 |  |  | 242 |  |  | 939 |
Continental Europe |  | 166 |  |  | 160 |  |  | 159 |  |  | 35 |  |  | 520 |  |  | 326 |  |  | 307 |  |  | 312 |  |  | 68 |  |  | 1,013 |
Europe - Total |  | 217 |  |  | 319 |  |  | 307 |  |  | 159 |  |  | 1,002 |  |  | 426 |  |  | 619 |  |  | 597 |  |  | 310 |  |  | 1,952 |
Rest of World |  | 36 |  |  | 132 |  |  | 81 |  |  | 82 |  |  | 331 |  |  | 68 |  |  | 251 |  |  | 158 |  |  | 165 |  |  | 642 |
Total |  | $ | 1,551 |  |  | $ | 1,547 |  |  | $ | 1,306 |  |  | $ | 841 |  |  | $ | 5,245 |  |  | $ | 3,122 |  |  | $ | 3,009 |  |  | $ | 2,584 |  |  | $ | 1,645 |  |  | $ | 10,360 |
Service line: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consulting and technology services |  | $ | 908 |  |  | $ | 1,099 |  |  | $ | 918 |  |  | $ | 464 |  |  | $ | 3,389 |  |  | $ | 1,778 |  |  | $ | 2,119 |  |  | $ | 1,805 |  |  | $ | 913 |  |  | $ | 6,615 |
Outsourcing services |  | 643 |  |  | 448 |  |  | 388 |  |  | 377 |  |  | 1,856 |  |  | 1,344 |  |  | 890 |  |  | 779 |  |  | 732 |  |  | 3,745 |
Total |  | $ | 1,551 |  |  | $ | 1,547 |  |  | $ | 1,306 |  |  | $ | 841 |  |  | $ | 5,245 |  |  | $ | 3,122 |  |  | $ | 3,009 |  |  | $ | 2,584 |  |  | $ | 1,645 |  |  | $ | 10,360 |
Type of contract: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Time and materials |  | $ | 495 |  |  | $ | 812 |  |  | $ | 580 |  |  | $ | 454 |  |  | $ | 2,341 |  |  | $ | 976 |  |  | $ | 1,576 |  |  | $ | 1,136 |  |  | $ | 888 |  |  | $ | 4,576 |
Fixed-price |  | 750 |  |  | 687 |  |  | 638 |  |  | 338 |  |  | 2,413 |  |  | 1,541 |  |  | 1,338 |  |  | 1,272 |  |  | 672 |  |  | 4,823 |
Transaction or volume-based |  | 306 |  |  | 48 |  |  | 88 |  |  | 49 |  |  | 491 |  |  | 605 |  |  | 95 |  |  | 176 |  |  | 85 |  |  | 961 |
Total |  | $ | 1,551 |  |  | $ | 1,547 |  |  | $ | 1,306 |  |  | $ | 841 |  |  | $ | 5,245 |  |  | $ | 3,122 |  |  | $ | 3,009 |  |  | $ | 2,584 |  |  | $ | 1,645 |  |  | $ | 10,360 |
Costs to Fulfill The following table shows significant movements in the capitalized costs to fulfill for the six months ended June 30:
(in millions) |  | 2026 |  | 2025
Beginning balance |  | $ | 161 |  |  | $ | 209 |
Costs capitalized |  | 60 |  |  | 20 |
Amortization expense |  | (31) |  |  | (40) |
Impairment charges |  | — |  |  | (7) |
Ending balance |  | $ | 190 |  |  | $ | 182 |
Costs to obtain contracts were immaterial for the periods disclosed. Contract Balances The table below shows significant movements in contract assets (current and noncurrent) for the six months ended June 30:
(in millions) |  | 2026 |  | 2025
Beginning balance |  | $ | 466 |  |  | $ | 386 |
Revenues recognized during the period but not billed |  | 550 |  |  | 426 |
Amounts reclassified to trade accounts receivable |  | (403) |  |  | (323) |
Amounts acquired in business combinations |  | 17 |  |  | — |
Ending balance |  | $ | 630 |  |  | $ | 489 |
The table below shows significant movements in the deferred revenue balances (current and noncurrent) for the six months ended June 30:
(in millions) |  | 2026 |  | 2025
Beginning balance |  | $ | 538 |  |  | $ | 480 |
Amounts billed but not recognized as revenues |  | 394 |  |  | 332 |
Revenues recognized related to the beginning balance of deferred revenue |  | (411) |  |  | (338) |
Ending balance |  | $ | 521 |  |  | $ | 474 |
Revenues recognized during the six months ended June 30, 2026 for performance obligations satisfied or partially satisfied in previous periods were immaterial. Remaining Performance Obligations As of June 30, 2026, the aggregate amount of transaction price allocated to remaining performance obligations was $6,939 million, of which approximately 35% is expected to be recognized as revenues within 1 year, approximately 55% is expected to be recognized as revenues within 2 years and approximately 95% is expected to be recognized as revenues within 5 years. Disclosure is not required for performance obligations that meet any of the following criteria: (1)contracts with a duration of one year or less as determined under ASC Topic 606: "Revenue from Contracts with Customers," (2)contracts for which we recognize revenues based on the right to invoice for services performed, (3)variable consideration allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct good or service that forms part of a single performance obligation in accordance with ASC 606-10-25-14(b), for which the criteria in ASC 606-10-32-40 have been met, or (4)variable consideration in the form of a sales-based or usage-based royalty promised in exchange for a license of intellectual property. Many of our performance obligations meet one or more of these exemptions and therefore are not included in the remaining performance obligation amount disclosed above. Trade Accounts Receivable and Allowance for Credit Losses The following table presents the activity in the allowance for credit losses for trade accounts receivable for the six months ended June 30:
(in millions) |  | 2026 |  | 2025
Beginning balance |  | $ | 23 |  |  | $ | 26 |
Credit loss (income) expense (1) |  | (2) |  |  | 5 |
Write-offs charged against the allowance |  | — |  |  | (5) |
Ending balance |  | $ | 21 |  |  | $ | 26 |
(1)Reported in "Selling, general and administrative expenses" in our unaudited consolidated statements of operations.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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