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OTHER BALANCE SHEET AND STATEMENTS OF OPERATIONS INFORMATION
 6 Months Ended
Jun. 30, 2024
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, 2024December 31, 2023
Other current assets:
Prepaid taxes$83 $115 
Prepaid expenses162 133 
Capitalized costs to obtain and fulfill sales contracts119 116 
Foreign exchange forwards on certain assets and liabilities— 13 
Interest receivable on interest rate and cross currency swaps79 79 
Other46 33 
Total other current assets$489 $489 
Other assets:
Investments in non-consolidated affiliates$523 $521 
Deposits for real-estate leases15 16 
Indemnification assets related to acquisitions115 111 
Mutual funds, certificates of deposit and money market deposit accounts/funds
108 100 
Company owned life insurance (at contract value)48 47 
Capitalized costs to obtain sales contracts
198 196 
Derivative instruments designated as accounting hedges18 3 
Pension and other retirement employee benefits40 41 
Other85 103 
Total other assets$1,150 $1,138 
Accounts payable and accrued liabilities:
Salaries and benefits$140 $130 
Incentive compensation196 345 
Customer credits, advanced payments and advanced billings137 105 
Dividends6 7 
Professional service fees77 46 
Interest accrued on debt
74 83 
Accounts payable57 23 
Income taxes104 108 
Pension and other retirement employee benefits15 15 
Accrued royalties20 24 
Foreign exchange forwards on certain assets and liabilities5 — 
Restructuring liability14 35 
Derivative instruments designated as accounting hedges11 — 
Interest payable on interest rate and cross currency swaps66 67 
Other78 88 
Total accounts payable and accrued liabilities$1,000 $1,076 
June 30, 2024December 31, 2023
Other liabilities:
Pension and other retirement employee benefits$191 $190 
Interest accrued on UTPs42 36 
MAKS indemnification provisions19 19 
Income tax liability - non-current portion12 15 
Derivative instruments designated as accounting hedges291 366 
Other63 50 
Total other liabilities$618 $676 
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, 2024December 31, 2023
Equity method investments (1)
$187 $186 
Investments measured using the measurement alternative (2)
327 327 
Other9 8 
Total investments in non-consolidated affiliates$523 $521 
(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 June 30,
Six Months Ended June 30,
2024202320242023
FX loss (1)
$(4)$(5)$(7)$(31)
Net periodic pension income - non-service and non-interest cost components
8 9 16 18 
Income from investments in non-consolidated affiliates2 1 2 3 
Gain on investments
5 5 8 11 
Other (2)
(4)3 1 12 
Total$7 $13 $20 $13 
(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.
(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.
Charges related to asset abandonment:
Costs of $15 million recorded in the second quarter of 2024 relate to severance incurred pursuant to a reduction in staff due to the Company's decision to outsource the production of certain sustainability content utilized in our product offerings. Additionally, the Company has reduced the estimated useful lives of certain internally developed software and amortizable intangible assets that are associated with the sustainability content offerings for which production is being outsourced. The Company expects to incur approximately $30 million in incremental amortization expense related to the change in estimated useful lives of these assets in the second half of 2024.