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v3.26.1

Revenues and Trade Accounts Receivable (Tables) | 6 Months Ended
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Jun. 30, 2026
Revenue from Contract with Customer [Abstract] |
Disaggregation of Revenue |
|  | 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 |
Capitalized Costs to Fulfill Contract with Customer | 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 with Customer, Asset and Liability | 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 |
Reinsurance Recoverable, Allowance for Credit Loss | 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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