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OTHER BALANCE SHEET AND STATEMENTS OF OPERATIONS INFORMATION (Tables)
 3 Months Ended
Mar. 31, 2024
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, 2024December 31, 2023
Other current assets:
Prepaid taxes$87 $115 
Prepaid expenses147 133 
Capitalized costs to obtain and fulfill sales contracts121 116 
Foreign exchange forwards on certain assets and liabilities— 13 
Interest receivable on interest rate and cross currency swaps49 79 
Other33 33 
Total other current assets$437 $489 
Other assets:
Investments in non-consolidated affiliates$522 $521 
Deposits for real-estate leases16 16 
Indemnification assets related to acquisitions113 111 
Mutual funds, certificates of deposit and money market deposit accounts/funds
110 100 
Company owned life insurance (at contract value)48 47 
Capitalized costs to obtain sales contracts
202 196 
Derivative instruments designated as accounting hedges14 3 
Pension and other retirement employee benefits41 41 
Other104 103 
Total other assets$1,170 $1,138 
Accounts payable and accrued liabilities:
Salaries and benefits$154 $130 
Incentive compensation96 345 
Customer credits, advanced payments and advanced billings141 105 
Dividends5 7 
Professional service fees61 46 
Interest accrued on debt
39 83 
Accounts payable88 23 
Income taxes147 108 
Pension and other retirement employee benefits15 15 
Accrued royalties28 24 
Foreign exchange forwards on certain assets and liabilities4 — 
Restructuring liability23 35 
Derivative instruments designated as accounting hedges14 — 
Interest payable on interest rate and cross currency swaps51 67 
Other110 88 
Total accounts payable and accrued liabilities$976 $1,076 
March 31, 2024December 31, 2023
Other liabilities:
Pension and other retirement employee benefits$193 $190 
Interest accrued on UTPs38 36 
MAKS indemnification provisions19 19 
Income tax liability - non-current portion12 15 
Derivative instruments designated as accounting hedges322 366 
Other51 50 
Total other liabilities$635 $676 
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, 2024December 31, 2023
Equity method investments (1)
$187 $186 
Investments measured using the measurement alternative (2)
327 327 
Other8 8 
Total investments in non-consolidated affiliates$522 $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.
Other Non-Operating
The following table summarizes the components of other non-operating income, net:
Three Months Ended March 31,
20242023
FX loss (1)
$(3)$(26)
Net periodic pension income - non-service and non-interest cost components
8 9 
Income from investments in non-consolidated affiliates— 2 
Gain on investments
3 5 
Other (2)
5 10 
Total$13 $— 
(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.