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OTHER BALANCE SHEET AND STATEMENTS OF OPERATIONS INFORMATION
 3 Months Ended
Mar. 31, 2023
Other Balance Sheet And Statement Of Operations Information [Abstract]  
OTHER BALANCE SHEET AND STATEMENTS 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, 2023December 31, 2022
Other current assets:
Prepaid taxes$191 $235 
Prepaid expenses131 119 
Capitalized costs to obtain and fulfill sales contracts117 106 
Foreign exchange forwards on certain assets and liabilities4 19 
Other74 104 
Total other current assets$517 $583 
Other assets:
Investments in non-consolidated affiliates$520 $517 
Deposits for real-estate leases15 15 
Indemnification assets related to acquisitions112 110 
Mutual funds and fixed deposits89 87 
Company owned life insurance (at contract value)44 40 
Costs to obtain sales contracts181 171 
Derivative instruments designated as accounting hedges12 27 
Pension and other retirement employee benefits41 40 
Other85 85 
Total other assets$1,099 $1,092 
Accounts payable and accrued liabilities:
Salaries and benefits$135 $104 
Incentive compensation88 276 
Customer credits, advanced payments and advanced billings110 102 
Dividends4 6 
Professional service fees47 49 
Accrued interest85 144 
Accounts payable70 52 
Income taxes84 86 
Pension and other retirement employee benefits7 7 
Accrued royalties31 23 
Foreign exchange forwards on certain assets and liabilities1 2 
Restructuring liability37 65 
Other106 95 
Total accounts payable and accrued liabilities$805 $1,011 
Other liabilities:
Pension and other retirement employee benefits$195 $189 
Interest accrued on UTPs28 47 
MAKS indemnification provisions19 23 
Income tax liability - non-current portion15 48 
Derivative instruments designated as accounting hedges307 317 
Other46 50 
Total other liabilities$610 $674 
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 sheets:
March 31, 2023December 31, 2022
Equity method investments (1)
$190 $187 
Investments measured using the measurement alternative (2)
325 325 
Other5 5 
Total investments in non-consolidated affiliates$520 $517 
(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 (expense), net, are disclosed within the table below.
Other non-operating income (expense), net:
The following table summarizes the components of other non-operating income (expense), net:
Three Months Ended March 31,
20232022
FX (loss) gain (1)
$(26)$— 
Net periodic pension costs - other components9 6 
Income from investments in non-consolidated affiliates2 2 
Other(2)
15 (2)
Total$— $6 
(1) The amount for the three months ended March 31, 2023 includes a $23 million loss recorded pursuant to an immaterial out-of-period adjustment relating to the 2022 fiscal year.
(2) The amount for the three months ended March 31, 2023 reflects a benefit of $9 million related to the favorable resolutions of various tax matters and gains of $4 million on certain of the Company's investments.