Other Financial Data

12 Months Ended

Dec. 31, 2023

Other Financial Data [Abstract]

Other Financial Data

Other Financial Data

Consolidated Statements of Income Information

Other Income (Expense)

The components of Other income (expense) are as follows (in millions):

	Years Ended December 31
	2023		2022		2021
Foreign currency remeasurement	$	(99)	$	(14)	$	26
Pension and other postretirement (1)	(98)		(179)		21
Gain from disposals of business	4		54		142
Equity earnings	5		10		8
Financial instruments and other	25		4		(45)
Total	$	(163)	$	(125)	$	152

(1) Refer to Note 12 “Employee Benefits” for further information.

Consolidated Statements of Financial Position Information

Allowance for Doubtful Accounts

Changes in the net carrying amount of allowance for doubtful accounts are as follows (in millions):

	2023		2022		2021
Balance at beginning of period	$	76	$	90	$	98
Provision	13		8		26
Accounts written off, net of recoveries	(11)		(18)		(37)
Foreign currency translation and other	1		(4)		3
Balance at end of period	$	79	$	76	$	90

Other Current Assets

The components of Other current assets are as follows (in millions):

As of December 31	2023		2022
Costs to fulfill contracts with customers (1)	$	370	$	355
Assets held for sale (2)	354		—
Prepaid expenses	100		109
Taxes receivable	35		74
Other	137		108
Total	$	996	$	646

(1)Refer to Note 3 “Revenue from Contracts with Customers” for further information.

(2)Refer to Note 6 “Acquisitions and Dispositions of Businesses” for further information.

Fixed Assets, net

The components of Fixed assets, net are as follows (in millions):

As of December 31	2023		2022
Software	$	983	$	861
Leasehold improvements	430		409
Computer equipment	294		269
Furniture, fixtures, and equipment	269		267
Construction in progress	130		109
Other	30		34
Fixed assets, gross	2,136		1,949
Less: Accumulated depreciation	1,498		1,391
Fixed assets, net	$	638	$	558

Depreciation expense, which includes software amortization, was $167 million, $151 million, and $179 million for the years ended December 31, 2023, 2022, and 2021, respectively.

Other Non-current Assets

The components of Other non-current assets are as follows (in millions):

As of December 31	2023		2022
Costs to obtain contracts with customers (1)	$	195	$	185
Taxes receivable	100		109
Investments	45		60
Leases (2)	26		43
Other	140		112
Total	$	506	$	509

(1)    Refer to Note 3 “Revenue from Contracts with Customers” for further information.

(2) Refer to Note 9 “Lease Commitments” for further information.

Other Current Liabilities

The components of Other current liabilities are as follows (in millions):

As of December 31	2023		2022
Taxes payable	$	291	$	193
Deferred revenue (1)	270		250
Leases (2)	182		186
Liabilities held for sale (3)	69		—
Other	1,066		718
Total	$	1,878	$	1,347

(1)$647 million and $653 million was recognized in the Consolidated Statements of Income during the years ended December 31, 2023 and December 31, 2022, respectively.

(2)Refer to Note 9 “Lease Commitments” for further information.

(3)Refer to Note 6 “Acquisitions and Dispositions of Businesses” for further information

Other Non-current Liabilities

The components of Other non-current liabilities are as follows (in millions):

As of December 31	2023		2022
Taxes payable (1)	$	827	$	795
Compensation and benefits payable	59		69
Deferred revenue	33		37
Leases (2)	10		28
Other	145		95
Total	$	1,074	$	1,024

(1)Includes $72 million and $129 million for the non-current portion of the transition tax as of December 31, 2023 and December 31, 2022, respectively. Refer to Note 10 “Income Taxes” for further information on the transition tax.

(2)Refer to Note 9 “Lease Commitments” for further information.