OTHER BALANCE SHEET INFORMATION

12 Months Ended

Dec. 31, 2021

Other Balance Sheet Information [Abstract]

OTHER BALANCE SHEET INFORMATION

OTHER BALANCE SHEET INFORMATION

The following tables contain additional detail related to certain balance sheet captions:

	December 31,
	2021		2020
Other current assets:
Prepaid taxes	$	112	$	94
Prepaid expenses	99		91
Capitalized costs to obtain and fulfill sales contracts	103		93
Foreign exchange forwards on certain assets and liabilities	1		31
Other	74		74
Total other current assets	$	389	$	383

	December 31,
	2021		2020
Other assets:
Investments in non-consolidated affiliates	$	443	$	135
Deposits for real-estate leases	14		19
Indemnification assets related to acquisitions	106		15
Mutual funds and fixed deposits	89		66
Company owned life insurance (at contract value)	37		17
Costs to obtain sales contracts	138		134
Derivative instruments designated as accounting hedges	66		57
Pension and other retirement employee benefits	77		21
Other	64		51
Total other assets	$	1,034	$	515

	December 31,
	2021		2020
Accounts payable and accrued liabilities:
Salaries and benefits	$	211	$	197
Incentive compensation	324		226
Customer credits, advanced payments and advanced billings	100		42
Dividends	6		11
Professional service fees	75		53
Interest accrued on debt	85		82
Accounts payable	47		39
Income taxes	115		128
Pension and other retirement employee benefits	7		45
Accrued royalties	36		19
Foreign exchange forwards on certain assets and liabilities	12		2
Restructuring liability	4		18
Derivative instruments designated as accounting hedges	—		39
Other	120		138
Total accounts payable and accrued liabilities	$	1,142	$	1,039

	December 31,
	2021		2020
Other liabilities:
Pension and other retirement employee benefits	$	235	$	244
Interest accrued on UTPs	59		113
MAKS indemnification provisions	33		33
Income tax liability – non-current portion	23		18
Derivative instruments designated as accounting hedges	40		145
Other	48		37
Total other liabilities	$	438	$	590

The following table provides additional detail regarding Moody's investments in non-consolidated affiliates, as included within other assets in the consolidated balance sheets:

	December 31,
	2021		2020
Investments in non-consolidated affiliates:
Equity method investments (1)	$	121	$	118
Investments measured using the measurement alternative (2)	318		16
Other	4		1
Total investments in non-consolidated affiliates	$	443	$	135

(1)Equity securities in which the Company has significant influence over the investee but does not have a controlling financial interest in accordance with ASC Topic 323

(2)Equity securities without readily determinable fair value for which the Company has elected to apply the measurement alternative in accordance with ASC Topic 321, which is more fully discussed in Note 2.

Moody's holds various investments accounted for under the equity method, the most significant of which is the Company's minority investment in CCXI. Moody's also holds various investments measured using the measurement alternative, the most significant of which is the Company's minority interest in BitSight.

Refer to Note 24 for disclosure on earnings from non-consolidated affiliates, which is included within other non-operating income, net.