Equity (Tables)

9 Months Ended

Sep. 30, 2025

Equity [Abstract]

Schedule of Accelerated Share Repurchase Agreements

The terms of each ASR agreement entered into during the nine months ended September 30, 2025 and 2024, structured as outlined above, are as follows:

(in millions, except average price paid per share)
ASR Agreement Initiation Date	ASR Agreement Completion Date	Initial Shares Delivered	Additional Shares Delivered	Total Number of Shares Purchased	Average Price Paid Per Share		Total Cash Utilized
August 12, 2025 1		1.7	—	1.7	$	—	$	1,200
May 6, 2025 2	August 8, 2025	1.0	0.2	1.2	$	518.47	$	650
February 19, 2025 3	May 6, 2025	1.0	0.3	1.3	$	491.12	$	650
July 31, 2024 4	October 22, 2024	2.6	0.3	3.0	$	505.19	$	1,500
February 12, 2024 5	April 12, 2024	1.0	0.2	1.2	$	421.05	$	500

1 The ASR agreement was structured as an uncapped ASR agreement in which we paid $1.2 billion and initially received shares valued at 80% of the $1.2 billion at a price equal to the market price of the Company’s common stock on August 12, 2025. The Company received an initial delivery of 1.7 million shares from the ASR program. We completed the ASR agreement on October 23, 2025 and received an additional 0.6 million shares. We repurchased a total of 2.3 million shares under the ASR agreement for an average purchase price $513.82 per share. The ASR agreement was executed under our 2022 Repurchase Program.

2 The ASR agreement was structured as an uncapped ASR agreement in which we paid $650 million and initially received shares valued at 80% of the $650 million at a price equal to the market price of the Company’s common stock on May 6, 2025. The Company received an initial delivery of 1.0 million shares from the ASR program. We completed the ASR agreement on August 8, 2025 and received an additional 0.2 million shares. The ASR agreement was executed under our 2022 Repurchase Program.

3 The ASR agreement was structured as an uncapped ASR agreement in which we paid $650 million and initially received shares valued at 80% of the $650 million at a price equal to the market price of the Company’s common stock on February 19, 2025. The Company received an initial delivery of 1.0 million shares from the ASR program. We completed the ASR agreement on May 6, 2025 and received an additional 0.3 million shares. The ASR agreement was executed under our 2022 Repurchase Program.

4 The ASR agreement was structured as an uncapped ASR agreement in which we paid $1.5 billion and initially received shares valued at 85% of the $1.5 billion at a price equal to the market price of the Company’s common stock on July 31, 2024 when the Company received an initial delivery of 2.6 million shares from the ASR program on August 1, 2024. We completed the ASR agreement on October 22, 2024 and received an additional 0.3 million shares. The ASR agreement was executed under our 2022 Repurchase Program

5 The ASR agreement was structured as an uncapped ASR agreement in which we paid $500 million and initially received shares valued at 85% of the $500 million at a price equal to the market price of the Company’s common stock on February 12, 2024 when the Company received an initial delivery of 1.0 million shares from the ASR program. We completed the ASR agreement on April 12, 2024 and received an additional 0.2 million shares. The ASR agreement was executed under our 2022 Repurchase Program.

Schedule of Redeemable Noncontrolling Interest Rollforward

Changes to redeemable noncontrolling interests during the nine months ended September 30, 2025 were as follows:

(in millions)
Balance as of December 31, 2024	$	4,252
Net income attributable to redeemable noncontrolling interests	235
Distributions payable to redeemable noncontrolling interests	(209)
Redemption value adjustment	146
Other 1	36
Balance as of September 30, 2025 2	$	4,460

1 Includes foreign currency translation adjustments.

2 As of September 30, 2025, $4,455 million relates to our redeemable noncontrolling interest in the Indices business.

Schedule of Changes in the Components of Accumulated Other Comprehensive Loss

The following table summarizes the changes in the components of accumulated other comprehensive loss for the nine months ended September 30:

(in millions)	Foreign Currency Translation Adjustments			Pension and Postretirement Benefit Plans			Unrealized Gain (Loss) on Cash Flow Hedges			Accumulated Other Comprehensive Loss
Balance as of December 31, 2024	$	(609)		$	(372)		$	98		$	(883)
Other comprehensive income (loss) before reclassifications	87		1	(3)			(1)			83
Reclassifications from accumulated other comprehensive income (loss) to net earnings	3			3		2	(4)		3	2
Net other comprehensive income	90			—			(5)			85
Balance as of September 30, 2025	$	(519)		$	(372)		$	93		$	(798)

1Includes an unrealized gain related to our cross currency swaps. See Note 5 – Derivative Instruments for additional detail of items recognized in accumulated other comprehensive loss.

2Reflects amortization of net actuarial losses and is net of a tax benefit of less than $1 million for the nine months ended September 30, 2025. See Note 6 — Employee Benefits for additional details of items reclassed from accumulated other comprehensive loss to net earnings.

3See Note 5 — Derivative Instruments for additional details of items reclassified from accumulated other comprehensive loss to net earnings.