Segment Information

12 Months Ended

Dec. 31, 2024

Segment Reporting Information, Revenue for Reportable Segment [Abstract]

Segment Information

Our chief executive officer is our chief operating decision maker. Our CODM regularly reviews the performance of our business by seven industry-based operating segments, which are aggregated into four reportable business segments:

•Health Sciences, which consists of a single operating segment of the same name;

•Financial Services, which consists of the banking and insurance operating segments;

•Products and Resources, which consists of the retail and consumer goods; manufacturing, logistics, energy, and utilities; and travel and hospitality operating segments; and

•Communications, Media and Technology, which consists of a single operating segment of the same name.

We have an industry-led go-to-market strategy, with client partners, account executives and client relationship managers aligned to the specific industries they serve.

Our CODM is regularly provided segment revenues and operating profit, including budget‑to‑actual variances in segment revenue, to formulate industry-focused strategic priorities, allocate financial resources, set targets and key performance indicators, and evaluate the results of such strategies. These strategic priorities, targets and key performance indicators are translated and applied to each client account, rolling up to respective industry-based operating segments. Our hiring and deployment plans are devised according to the strategic priorities and targets set for the client accounts.

Revenue from a client is directly identified with the operating segment with which the client is most closely aligned. Generally, operating expenses for each operating segment have similar characteristics and are subject to the same factors, pressures and challenges. However, the economic environment and its effects on industries served by the operating segments may affect revenues and operating expenses to differing degrees. Segment operating profit is the income from operations before unallocated costs.

Our CODM is not regularly provided with segment expenses. Corporate expenses, expenses related to our NextGen program, a portion of depreciation and amortization and the impact of the settlements of the cash flow hedges are not allocated to individual segments. Accordingly, such expenses are excluded from segment operating profit and are included below as “unallocated costs” and adjusted against our total income from operations.

We do not disclose assets by segment as a significant portion of the assets is used interchangeably among the segments and our CODM is not provided such information.

Information by reportable segment were as follows:

	Year Ended December 31, 2024
(in millions)	HS		FS		P&R		CMT		Total
Revenues	$	5,932	$	5,753	$	4,782	$	3,269	$	19,736
Less: other segment items	4,599		4,512		3,802		2,667		15,580
Segment operating profit	1,333		1,241		980		602		4,156
Less: unallocated costs									1,264
Income from operations									$	2,892

	Year Ended December 31, 2023
(in millions)	HS		FS		P&R		CMT		Total
Revenues	$	5,674	$	5,809	$	4,628	$	3,242	$	19,353
Less: other segment items	4,322		4,653		3,644		2,617		15,236
Segment operating profit	1,352		1,156		984		625		4,117
Less: unallocated costs									1,428
Income from operations									$	2,689

	Year Ended December 31, 2022
(in millions)	HS		FS		P&R		CMT		Total
Revenues	$	5,631	$	6,072	$	4,566	$	3,159	$	19,428
Less: other segment items	4,441		4,749		3,495		2,390		15,075
Segment operating profit	1,190		1,323		1,071		769		4,353
Less: unallocated costs									1,385
Income from operations									$	2,968

Other segment items for each reportable segment primarily include employee compensation and benefits, subcontractor costs, costs of third-party products and services related to revenue and project-related travel.

Geographic Area Information

Long-lived assets by geographic area are as follows:

(in millions)	2024		2023		2022
Long-lived Assets:(1)
North America(2)	$	338	$	335	$	354
Europe	72		90		86
Rest of World(3)	584		623		661
Total	$	994	$	1,048	$	1,101

(1)    Long-lived assets include property and equipment, net of accumulated depreciation and amortization.

(2)    Substantially all relates to the United States.

(3)    Substantially all relates to India.