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Operating Expense Breakdown
Breaks down key cost lines such as employee compensation, technology and data investments, and sales and administrative expenses, showing how efficiently Moody’s operates and where it’s allocating capital to support growth in analytics and ratings.Operating expense composition shows Moody’s increasing structural investments—SG&A and depreciation/amortization have trended higher as the company scales MA and AI platforms—creating a larger recurring cost base even as operating income rises. Management’s expanded restructuring program explains recent charge spikes and signals they’re trading near‑term costs for ~$300–$350M of annualized savings; expect more quarterly volatility but improving margins over time if issuance and ARR momentum sustain, which also underpins aggressive buybacks and elevated shareholder returns.
Date | Selling, General, and Administrative | Depreciation and Amortization | Other | Restructuring | Operating |
|---|---|---|---|---|---|
Jun 30, 2026 | $463.00M | $126.00M | $0.00 | $32.00M | $518.00M |
Mar 31, 2026 | $477.00M | $122.00M | $0.00 | $27.00M | $531.00M |
Dec 31, 2025 | $467.00M | $124.00M | -$1.00M | $27.00M | $502.00M |
Sep 30, 2025 | $453.00M | $123.00M | $0.00 | $21.00M | $492.00M |
Jun 30, 2025 | $443.00M | $120.00M | $0.00 | $27.00M | $489.00M |
Mar 31, 2025 | $439.00M | $113.00M | $2.00M | $33.00M | $491.00M |
Dec 31, 2024 | $442.00M | $113.00M | $0.00 | $46.00M | $497.00M |
Sep 30, 2024 | $434.00M | $108.00M | $0.00 | $6.00M | $512.00M |
Jun 30, 2024 | $446.00M | $110.00M | $0.00 | $2.00M | $469.00M |
Mar 31, 2024 | $413.00M | $100.00M | $0.00 | $5.00M | $467.00M |