The components of operating expenses include the following:


	Three months ended June 30,			Six months ended June 30,
(millions of U.S. dollars)		2026	2025	2026	2025
Salaries, commissions and allowances		631	593	1,254	1,166
Share-based payments		37	29	70	57
Post-employment benefits		34	36	71	68
Total staff costs		702	658	1,395	1,291
Goods and services(1)		416	370	827	740
Content		71	68	153	146
Telecommunications		11	12	22	23
Facilities		9	9	18	18
Fair value adjustments(2)		2	7	(1)	14
Total operating expenses		1,211	1,124	2,414	2,232

(1)

Goods and services include technology-related expenses, professional fees, consulting, contractors, marketing and other general and administrative costs.

(2)

Fair value adjustments primarily represent gains or losses due to changes in foreign currency exchange rates on intercompany balances that arise in the ordinary course of business.