Revenues and Trade Accounts Receivable (Tables)

6 Months Ended

Jun. 30, 2026


	Three Months Ended June 30, 2026										Six Months Ended June 30, 2026

(in millions)	HS		FS		P&R		CMT		Total		HS		FS		P&R		CMT		Total
Revenues
Geography:
North America	$	1,307	$	1,263	$	918	$	639	$	4,127	$	2,618	$	2,439	$	1,834	$	1,288	$	8,179
United Kingdom	60		165		151		116		492		117		336		315		233		1,001
Continental Europe	164		167		171		33		535		332		333		332		68		1,065
Europe - Total	224		332		322		149		1,027		449		669		647		301		2,066
Rest of World	41		138		82		66		327		84		269		162		134		649
Total	$	1,572	$	1,733	$	1,322	$	854	$	5,481	$	3,151	$	3,377	$	2,643	$	1,723	$	10,894

Service line:
Consulting and technology services	$	925	$	1,255	$	900	$	438	$	3,518	$	1,838	$	2,440	$	1,801	$	930	$	7,009
Outsourcing services	647		478		422		416		1,963		1,313		937		842		793		3,885
Total	$	1,572	$	1,733	$	1,322	$	854	$	5,481	$	3,151	$	3,377	$	2,643	$	1,723	$	10,894

Type of contract:
Time and materials	$	487	$	848	$	515	$	455	$	2,305	$	961	$	1,628	$	1,038	$	889	$	4,516
Fixed-price	803		825		718		344		2,690		1,609		1,633		1,431		741		5,414
Transaction or volume-based	282		60		89		55		486		581		116		174		93		964
Total	$	1,572	$	1,733	$	1,322	$	854	$	5,481	$	3,151	$	3,377	$	2,643	$	1,723	$	10,894


	Three Months Ended June 30, 2025										Six Months Ended June 30, 2025

(in millions)	HS		FS		P&R		CMT		Total		HS		FS		P&R		CMT		Total
Revenues
Geography:
North America	$	1,298	$	1,096	$	918	$	600	$	3,912	$	2,628	$	2,139	$	1,829	$	1,170	$	7,766
United Kingdom	51		159		148		124		482		100		312		285		242		939
Continental Europe	166		160		159		35		520		326		307		312		68		1,013
Europe - Total	217		319		307		159		1,002		426		619		597		310		1,952
Rest of World	36		132		81		82		331		68		251		158		165		642
Total	$	1,551	$	1,547	$	1,306	$	841	$	5,245	$	3,122	$	3,009	$	2,584	$	1,645	$	10,360

Service line:
Consulting and technology services	$	908	$	1,099	$	918	$	464	$	3,389	$	1,778	$	2,119	$	1,805	$	913	$	6,615
Outsourcing services	643		448		388		377		1,856		1,344		890		779		732		3,745
Total	$	1,551	$	1,547	$	1,306	$	841	$	5,245	$	3,122	$	3,009	$	2,584	$	1,645	$	10,360

Type of contract:
Time and materials	$	495	$	812	$	580	$	454	$	2,341	$	976	$	1,576	$	1,136	$	888	$	4,576
Fixed-price	750		687		638		338		2,413		1,541		1,338		1,272		672		4,823
Transaction or volume-based	306		48		88		49		491		605		95		176		85		961
Total	$	1,551	$	1,547	$	1,306	$	841	$	5,245	$	3,122	$	3,009	$	2,584	$	1,645	$	10,360

The following table shows significant movements in the capitalized costs to fulfill for the six months ended June 30:

Costs to obtain contracts were immaterial for the periods disclosed.

The table below shows significant movements in contract assets (current and noncurrent) for the six months ended June 30:


(in millions)	2026		2025
Beginning balance	$	466	$	386
Revenues recognized during the period but not billed	550		426
Amounts reclassified to trade accounts receivable	(403)		(323)
Amounts acquired in business combinations	17		—

Ending balance	$	630	$	489

The table below shows significant movements in the deferred revenue balances (current and noncurrent) for the six months ended June 30:


(in millions)	2026		2025
Beginning balance	$	538	$	480
Amounts billed but not recognized as revenues	394		332
Revenues recognized related to the beginning balance of deferred revenue	(411)		(338)


Ending balance	$	521	$	474

The following table presents the activity in the allowance for credit losses for trade accounts receivable for the six months ended June 30:


(in millions)	2026		2025
Beginning balance	$	23	$	26
Credit loss (income) expense (1)	(2)		5
Write-offs charged against the allowance	—		(5)

Ending balance	$	21	$	26

(1)Reported in "Selling, general and administrative expenses" in our unaudited consolidated statements of operations.