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OTHER BALANCE SHEET AND STATEMENTS OF OPERATIONS INFORMATION
 9 Months Ended
Sep. 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:
September 30, 2023December 31, 2022
Other current assets:
Prepaid taxes$125 $235 
Prepaid expenses137 119 
Capitalized costs to obtain and fulfill sales contracts107 106 
Foreign exchange forwards on certain assets and liabilities— 19 
Interest receivable on interest rate and cross currency swaps50 74 
Other26 30 
Total other current assets$445 $583 
Other assets:
Investments in non-consolidated affiliates$521 $517 
Deposits for real-estate leases14 15 
Indemnification assets related to acquisitions109 110 
Mutual funds and fixed deposits98 87 
Company owned life insurance (at contract value)46 40 
Costs to obtain sales contracts178 171 
Derivative instruments designated as accounting hedges27 27 
Pension and other retirement employee benefits40 40 
Other97 85 
Total other assets$1,130 $1,092 
Accounts payable and accrued liabilities:
Salaries and benefits$108 $104 
Incentive compensation244 276 
Customer credits, advanced payments and advanced billings89 102 
Dividends20 6 
Professional service fees58 49 
Accrued interest47 93 
Accounts payable41 52 
Income taxes96 86 
Pension and other retirement employee benefits7 7 
Accrued royalties22 23 
Foreign exchange forwards on certain assets and liabilities32 2 
Restructuring liability34 65 
Interest payable on interest rate and cross currency swaps50 51 
Other90 95 
Total accounts payable and accrued liabilities$938 $1,011 
September 30, 2023December 31, 2022
Other liabilities:
Pension and other retirement employee benefits$180 $189 
Interest accrued on UTPs34 47 
MAKS indemnification provisions19 23 
Income tax liability - non-current portion15 48 
Derivative instruments designated as accounting hedges351 317 
Other48 50 
Total other liabilities$647 $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:
September 30, 2023December 31, 2022
Equity method investments (1)
$189 $187 
Investments measured using the measurement alternative (2)
325 325 
Other7 5 
Total investments in non-consolidated affiliates$521 $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, net, are disclosed within the table below.
Other non-operating income, net:
The following table summarizes the components of other non-operating income, net:
Three Months Ended September 30,
Nine Months Ended September 30,
2023202220232022
FX gain (loss) (1)
$2 $13 $(29)$(9)
Net periodic pension costs - other components8 6 26 18 
Income from investments in non-consolidated affiliates9 10 12 14 
Gain (loss) on investments
— (3)11 (19)
Other (2)
(1)— 11 18 
Total$18 $26 $31 $22 
(1) The amount for the nine months ended September 30, 2023 includes a $23 million loss recorded pursuant to an immaterial out-of-period adjustment relating to the 2022 fiscal year. The amount for the nine months ended September 30, 2022 includes 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 nine months ended September 30, 2023 reflects a benefit of $9 million related to the favorable resolutions of various tax matters. The amount for the nine months ended September 30, 2022 reflects an $11 million benefit from a statute of limitations lapse relating to reserves established pursuant to the divestiture of MAKS.