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OTHER BALANCE SHEET AND STATEMENTS OF OPERATIONS INFORMATION
 6 Months Ended
Jun. 30, 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:
June 30, 2023December 31, 2022
Other current assets:
Prepaid taxes$169 $235 
Prepaid expenses112 119 
Capitalized costs to obtain and fulfill sales contracts112 106 
Foreign exchange forwards on certain assets and liabilities10 19 
Interest receivable on interest rate and cross currency swaps78 74 
Other32 30 
Total other current assets$513 $583 
Other assets:
Investments in non-consolidated affiliates$526 $517 
Deposits for real-estate leases15 15 
Indemnification assets related to acquisitions107 110 
Mutual funds and fixed deposits96 87 
Company owned life insurance (at contract value)47 40 
Costs to obtain sales contracts176 171 
Derivative instruments designated as accounting hedges7 27 
Pension and other retirement employee benefits39 40 
Other88 85 
Total other assets$1,101 $1,092 
Accounts payable and accrued liabilities:
Salaries and benefits$113 $104 
Incentive compensation166 276 
Customer credits, advanced payments and advanced billings99 102 
Dividends5 6 
Professional service fees47 49 
Accrued interest79 93 
Accounts payable37 52 
Income taxes112 86 
Pension and other retirement employee benefits7 7 
Accrued royalties26 23 
Foreign exchange forwards on certain assets and liabilities3 2 
Restructuring liability28 65 
Interest payable on interest rate and cross currency swaps62 51 
Other93 95 
Total accounts payable and accrued liabilities$877 $1,011 
June 30, 2023December 31, 2022
Other liabilities:
Pension and other retirement employee benefits$195 $189 
Interest accrued on UTPs30 47 
MAKS indemnification provisions19 23 
Income tax liability - non-current portion15 48 
Derivative instruments designated as accounting hedges381 317 
Restructuring liability - non-current portion2 — 
Other47 50 
Total other liabilities$689 $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:
June 30, 2023December 31, 2022
Equity method investments (1)
$194 $187 
Investments measured using the measurement alternative (2)
325 325 
Other7 5 
Total investments in non-consolidated affiliates$526 $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 June 30,
Six Months Ended June 30,
2023202220232022
FX loss (1)
$(5)$(22)$(31)$(22)
Net periodic pension costs - other components9 6 18 12 
Income from investments in non-consolidated affiliates1 2 3 4 
Gains / losses on investments5 (9)11 (14)
Other (2)
3 13 12 16 
Total$13 $(10)$13 $(4)
(1) The amount for the six months ended June 30, 2023 includes a $23 million loss recorded pursuant to an immaterial out-of-period adjustment relating to the 2022 fiscal year. The amounts for the three and six months ended June 30, 2022 include FX translation losses of $20 million reclassified to earnings resulting from the Company no longer conducting commercial operations in Russia.
(2) The amount for the six months ended June 30, 2023 reflects a benefit of $9 million related to the favorable resolutions of various tax matters. The amounts for the three and six months ended June 30, 2022 reflect an $11 million benefit from a statute of limitations lapse relating to reserves established pursuant to the divestiture of MAKS.