OTHER BALANCE SHEET AND STATEMENTS OF OPERATIONS INFORMATION (Tables)

3 Months Ended

Mar. 31, 2023

Other Balance Sheet And Statement Of Operations Information [Abstract]

Additional Details Related to Certain Balance Sheet Captions

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

	March 31, 2023		December 31, 2022
Other current assets:
Prepaid taxes	$	191	$	235
Prepaid expenses	131		119
Capitalized costs to obtain and fulfill sales contracts	117		106
Foreign exchange forwards on certain assets and liabilities	4		19
Other	74		104
Total other current assets	$	517	$	583
Other assets:
Investments in non-consolidated affiliates	$	520	$	517
Deposits for real-estate leases	15		15
Indemnification assets related to acquisitions	112		110
Mutual funds and fixed deposits	89		87
Company owned life insurance (at contract value)	44		40
Costs to obtain sales contracts	181		171
Derivative instruments designated as accounting hedges	12		27
Pension and other retirement employee benefits	41		40
Other	85		85
Total other assets	$	1,099	$	1,092
Accounts payable and accrued liabilities:
Salaries and benefits	$	135	$	104
Incentive compensation	88		276
Customer credits, advanced payments and advanced billings	110		102
Dividends	4		6
Professional service fees	47		49
Accrued interest	85		144
Accounts payable	70		52
Income taxes	84		86
Pension and other retirement employee benefits	7		7
Accrued royalties	31		23
Foreign exchange forwards on certain assets and liabilities	1		2
Restructuring liability	37		65
Other	106		95
Total accounts payable and accrued liabilities	$	805	$	1,011

Other liabilities:
Pension and other retirement employee benefits	$	195	$	189
Interest accrued on UTPs	28		47
MAKS indemnification provisions	19		23
Income tax liability - non-current portion	15		48
Derivative instruments designated as accounting hedges	307		317
Other	46		50
Total other liabilities	$	610	$	674

Investments in and Advances to 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, 2023		December 31, 2022
Equity method investments (1)	$	190	$	187
Investments measured using the measurement alternative (2)	325		325
Other	5		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.

Other Non-Operating

The following table summarizes the components of other non-operating income (expense), net:

	Three Months Ended March 31,
	2023		2022
FX (loss) gain (1)	$	(26)	$	—
Net periodic pension costs - other components	9		6
Income from investments in non-consolidated affiliates	2		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.