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OTHER BALANCE SHEET AND STATEMENT OF OPERATIONS INFORMATION
 3 Months Ended
Mar. 31, 2022
Other Balance Sheet And Statement Of Operations Information [Abstract]  
OTHER BALANCE SHEET AND STATEMENT OF OPERATIONS INFORMATION OTHER BALANCE SHEET AND STATEMENTS OF OPERATIONS INFORMATION
The following tables contain additional detail related to certain balance sheet captions:
March 31, 2022December 31, 2021
Other current assets:
Prepaid taxes$113 $112 
Prepaid expenses104 99 
Capitalized costs to obtain and fulfill sales contracts98 103 
Derivative instruments designated as accounting hedges11 — 
Other59 75 
Total other current assets$385 $389 
Other assets:
Investments in non-consolidated affiliates$450 $443 
Deposits for real-estate leases15 14 
Indemnification assets related to acquisitions108 106 
Mutual funds and fixed deposits73 89 
Company owned life insurance (at contract value)49 37 
Costs to obtain sales contracts152 138 
Derivative instruments designated as accounting hedges66 66 
Pension and other retirement employee benefits74 77 
Other74 64 
Total other assets$1,061 $1,034 
Accounts payable and accrued liabilities:
Salaries and benefits$220 $211 
Incentive compensation72 324 
Customer credits, advanced payments and advanced billings116 100 
Dividends3 6 
Professional service fees69 75 
Interest accrued on debt42 85 
Accounts payable42 47 
Income taxes141 115 
Pension and other retirement employee benefits7 7 
Accrued royalties21 36 
Foreign exchange forwards on certain assets and liabilities22 12 
Restructuring liability2 4 
Other99 120 
Total accounts payable and accrued liabilities$856 $1,142 
Other liabilities:
Pension and other retirement employee benefits$230 $235 
Interest accrued on UTPs60 59 
MAKS indemnification provisions33 33 
Income tax liability - non-current portion23 23 
Derivative instruments designated as accounting hedges103 40 
Other43 48 
Total other liabilities$492 $438 
Allowance for credit losses:
During the quarter ended March 31, 2022, the Company increased its allowance for credit losses by $12 million. This increase was primarily due to reserves recorded for the Company's Russian-domiciled customers pursuant to the impacts of the Russia/Ukraine conflict, which is more fully described in Note 1.
Investments in non-consolidated affiliates:
The following table provides additional detail regarding Moody's investments in non-consolidated affiliates, as included in other assets in the consolidated balance sheet:
March 31, 2022December 31, 2021
Equity method investments(1)
$128 $121 
Investments measured using the measurement alternative(2)
318 318 
Other4 4 
Total investments in non-consolidated affiliates$450 $443 
(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
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.
Earnings from non-consolidated affiliates, which are included within other non-operating income, net, are disclosed within the table below.
Other Non-Operating Income:
The following table summarizes the components of other non-operating income:
Three Months Ended March 31,
20222021
FX gain (loss) $— $(2)
Net periodic pension costs - other components6 4 
Income from investments in non-consolidated affiliates2 8 
Other(2)6 
Total$6 $16