What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2026-07-28 compared with 2026-05-05 · 122 added, 73 removed, 457 unchanged (30% of the section changed)

3 unchanged sentences

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

Three Months Ended March 31,

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

(in millions, except per share data) 2026 2025 2026 2025

16 unchanged sentences

Net income attributable to IQVIA Holdings Inc.

$ 256 $ 266 $ 530 $ 515

Earnings per share attributable to common stockholders:

8 unchanged sentences

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

Three Months Ended March 31,

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

(in millions) 2026 2025 2026 2025

1 unchanged sentence

Comprehensive income adjustments:

Unrealized (losses) on derivative instruments, net of income tax (benefit) of $ — ,$( 5 )

Unrealized gains (losses) on derivative instruments, net of income tax expense (benefit) of $ 4 ,$( 1 ), $4, $(6)

11 ( 4 ) 11 ( 21 )

Defined benefit plan adjustments, net of income tax (benefit) of $ — , $( 1 ), $(1), $(1)

( 1 ) — — ( 3 )

Foreign currency translation, net of income tax expense (benefit) of $ 9 ,$( 93 ), $23, $(139)

( 9 ) 102 ( 42 ) 181

Reclassification adjustments:

Reclassifications on derivative instruments included in net income, net of income tax benefit of $ 3 ,$ —

Reclassifications on derivative instruments included in net income, net of income tax (expense) benefit of $ — ,$( 1 ), $3, $(1)

3 ( 2 ) 10 ( 1 )

Comprehensive income 262 362 512 $ 671

1 unchanged sentence

Comprehensive income attributable to IQVIA Holdings Inc.

$ 260 $ 362 $ 509 $ 671

The accompanying notes are an integral part of these condensed consolidated financial statements.

2 unchanged sentences

CONDENSED CONSOLIDATED BALANCE SHEETS

(in millions, except per share data) March 31, 2026 December 31, 2025

(in millions, except per share data) June 30, 2026 December 31, 2025

Current assets:

30 unchanged sentences

Stockholders’ equity:

Common stock and additional paid-in capital, 400.0 shares authorized as of March 31, 2026 and December 31, 2025, $ 0.01 par value, 259.6 shares issued and 166.9 shares outstanding as of March 31, 2026;

Common stock and additional paid-in capital, 400.0 shares authorized as of June 30, 2026 and December 31, 2025, $ 0.01 par value, 259.6 shares issued and 164.6 shares outstanding as of June 30, 2026;

259.1 shares issued and 169.6 shares outstanding as of December 31, 2025

1 unchanged sentence

Retained earnings 7,955 7,425

Treasury stock, at cost, 92.7 and 89.5 shares as of March 31, 2026 and December 31, 2025, respectively

Treasury stock, at cost, 95.0 and 89.5 shares as of June 30, 2026 and December 31, 2025, respectively

( 12,316 ) ( 11,357 )

8 unchanged sentences

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

Three Months Ended March 31,

Six Months Ended June 30,

(in millions) 2026 2025

6 unchanged sentences

(Earnings) losses from unconsolidated affiliates ( 23 ) 14

Loss on investments, net 18 1

Loss (gain) on investments, net 12 ( 16 )

Benefit from deferred income taxes ( 74 ) ( 86 )

19 unchanged sentences

Contingent consideration and deferred purchase price payments ( 15 ) ( 20 )

Other ( 9 ) ( 11 )

Net cash used in financing activities ( 647 ) ( 113 )

18 unchanged sentences

Balance, March 31, 2026 259.6 ( 92.7 ) 3 11,401 7,699 ( 11,914 ) ( 968 ) 128 6,349

Issuance of common stock — — — ( 1 ) — — — — ( 1 )

Repurchase of common stock, net of tax — ( 2.3 ) — — — ( 402 ) — — ( 402 )

Stock-based compensation — — — 93 — — — — 93

Net income — — — — 256 — — 2 258

Unrealized gains on derivative instruments, net of tax — — — — — — 11 — 11

Defined benefit plan adjustments, net of tax — — — — — — ( 1 ) — ( 1 )

Foreign currency translation, net of tax — — — — — — ( 9 ) — ( 9 )

Reclassification adjustments, net of tax — — — — — — 3 — 3

Balance, June 30, 2026 259.6 ( 95.0 ) $ 3 $ 11,493 $ 7,955 $ ( 12,316 ) $ ( 964 ) $ 130 $ 6,301

(in millions) Common Stock Shares Treasury Stock Shares Common Stock Additional Paid-In Capital Retained Earnings Treasury Stock Accumulated Other Comprehensive (Loss) Income Noncontrolling

11 unchanged sentences

Balance, March 31, 2025 258.5 ( 84.4 ) 3 11,170 6,314 ( 10,532 ) ( 978 ) 8 5,985

Issuance of common stock — — — — — — — — —

Repurchase of common stock, net of tax — ( 4.1 ) — — — ( 613 ) — — ( 613 )

Stock-based compensation — — — 52 — — — — 52

Net income — — — — 266 — — — 266

Unrealized gains on derivative instruments, net of tax — — — — — — ( 4 ) — ( 4 )

Foreign currency translation, net of tax — — — — — — 102 — 102

Reclassification adjustments, net of tax — — — — — — ( 2 ) — ( 2 )

Balance, June 30, 2025 258.5 ( 88.5 ) $ 3 $ 11,222 $ 6,580 $ ( 11,145 ) $ ( 882 ) $ 8 $ 5,786

The accompanying notes are an integral part of these condensed consolidated financial statements.

14 unchanged sentences

Recently Issued Accounting Standards

Accounting pronouncements issued but not adopted as of March 31, 2026

Accounting pronouncements issued but not adopted as of June 30, 2026

In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses (DISE) , to improve the disclosures about an entity's expenses and address requests from investors for more detailed information about the types of expenses in commonly presented expense captions.

15 unchanged sentences

Revenues by Geography, Concentration of Credit Risk and Remaining Performance Obligations

The following tables represent revenues by geographic region and reportable segment for the three months ended March 31, 2026 and 2025.

Results for the three months ended March 31, 2025 reflect the recast of segment information based on the changes described in Note 14.

Three Months Ended March 31, 2026

The following tables represent revenues by geographic region and reportable segment for the three and six months ended June 30, 2026 and 2025.

Results for the three and six months ended June 30, 2025 reflect the recast of segment information based on the changes described in Note 14.

Three Months Ended June 30, 2026

(in millions) Commercial Solutions Research & Development Solutions Total

3 unchanged sentences

Total revenues $ 1,793 $ 2,575 $ 4,368

Three Months Ended March 31, 2025

Three Months Ended June 30, 2025

(in millions) Commercial Solutions Research & Development Solutions Total

3 unchanged sentences

Total revenues $ 1,651 $ 2,366 $ 4,017

No individual customer represented 10% or more of consolidated revenues for the three months ended March 31, 2026 or 2025.

Six Months Ended June 30, 2026

(in millions) Commercial Solutions Research & Development Solutions Total

Americas $ 1,751 $ 2,272 $ 4,023

Europe and Africa 1,375 1,389 2,764

Asia-Pacific 421 1,311 1,732

Total revenues $ 3,547 $ 4,972 $ 8,519

Six Months Ended June 30, 2025

(in millions) Commercial Solutions Research & Development Solutions Total

Americas $ 1,615 $ 2,127 $ 3,742

Europe and Africa 1,233 1,232 2,465

Asia-Pacific 375 1,264 1,639

Total revenues $ 3,223 $ 4,623 $ 7,846

No individual customer represented 10% or more of consolidated revenues for the three and six months ended June 30, 2026 or 2025.

Transaction Price Allocated to the Remaining Performance Obligations

As of March 31, 2026, approximately $ 37.3 billion of revenues are expected to be recognized in the future from remaining performance obligations.

As of June 30, 2026, approximately $ 36.4 billion of revenues are expected to be recognized in the future from remaining performance obligations.

The Company expects to recognize revenues on approximately 30 % of these remaining performance obligations over the next twelve months , on approximately 85 % over the next five years, with the balance recognized thereafter.

3 unchanged sentences

Trade accounts receivables and unbilled services consist of the following:

(in millions) March 31, 2026 December 31, 2025

(in millions) June 30, 2026 December 31, 2025

Trade accounts receivable $ 1,626 $ 1,668

4 unchanged sentences

Unbilled services and unearned income were as follows:

(in millions) March 31, 2026 December 31, 2025 Change

(in millions) June 30, 2026 December 31, 2025 Change

Unbilled services $ 1,769 $ 1,783 $ ( 14 )

1 unchanged sentence

Net balance $ ( 512 ) $ ( 335 ) $ ( 177 )

Unbilled services, which is comprised of approximately 73 % and 71 % of unbilled receivables and 27 % and 29 % of contract assets as of March 31, 2026 and December 31, 2025, decreased by $ 20 million as compared to December 31, 2025.

Unbilled services, which is comprised of approximately 75 % and 71 % of unbilled receivables and 25 % and 29 % of contract assets as of June 30, 2026 and December 31, 2025, decreased by $ 14 million as compared to December 31, 2025.

Contract assets are unbilled services for which invoicing is based on the timing of certain milestones related to service contracts for clinical research whereas unbilled receivables are billable upon the passage of time.

Unearned income increased by $ 143 million over the same period resulting in a decrease of $ 163 million in the net balance of unbilled services and unearned income between March 31, 2026 and December 31, 2025.

Unearned income increased by $ 163 million over the same period resulting in a decrease of $ 177 million in the net balance of unbilled services and unearned income between June 30, 2026 and December 31, 2025.

The change in the net balance is driven by the difference in timing of revenue recognition in accordance with Accounting Standards Codification ("ASC") 606, Revenue from Contracts with Customers , primarily related to the Company’s Research & Development Solutions contracts (which is based on the percentage of costs incurred) versus the timing of invoicing, which is based on certain milestones.

The majority of the unearned income balance as of the beginning of the year is expected to be recognized in revenues during the year ended December 31, 2026.

Bad debt expense recognized on the Company’s trade accounts receivable was immaterial for the three months ended March 31, 2026 and 2025.

Bad debt expense recognized on the Company’s trade accounts receivable was immaterial for the three and six months ended June 30, 2026 and 2025.

Accounts Receivable Factoring Arrangements

The Company has accounts receivable factoring agreements to sell certain eligible unsecured trade accounts receivable, either based on automatic arrangements or at its option, without recourse, to unrelated third-party financial institutions for cash.

During the three months ended March 31, 2026, through its accounts receivable factoring arrangements that the Company utilizes most frequently, the Company factored approximately $ 182 million of customer invoices on a non-recourse basis and received approximately $ 180 million in cash proceeds from the sales.

During the three months ended March 31, 2025, through these same accounts receivable factoring arrangements, the Company factored approximately $ 167 million of customer invoices on a non-recourse basis and received approximately $ 166 million in cash proceeds from the sales.

During the six months ended June 30, 2026, through its accounts receivable factoring arrangements that the Company utilizes most frequently, the Company factored approximately $ 367 million of customer invoices on a non-recourse basis and received approximately $ 364 million in cash proceeds from the sales.

During the six months ended June 30, 2025, through these same accounts receivable factoring arrangements, the Company factored approximately $ 330 million of customer invoices on a non-recourse basis and received approximately $ 327 million in cash proceeds from the sales.

The fees associated with these transactions were immaterial.

The Company has other accounts receivable arrangements for which the activity associated with them is immaterial.

The following is a summary of goodwill by reportable segment for the three months ended March 31, 2026:

The following is a summary of goodwill by reportable segment for the six months ended June 30, 2026:

(in millions) Commercial Solutions Research & Development Solutions Consolidated

2 unchanged sentences

Impact of foreign currency fluctuations and other ( 130 ) ( 17 ) ( 147 )

Balance as of March 31, 2026 $ 12,922 $ 3,622 $ 16,544

Balance as of June 30, 2026 $ 12,913 $ 3,691 $ 16,604

In the first quarter of 2026, the Company reorganized its reportable segments as further detailed in Note 14.

4 unchanged sentences

The fair values of the Company’s derivative instruments and the line items on the accompanying condensed consolidated balance sheets to which they were recorded are summarized in the following table:

(in millions) Balance Sheet Classification March 31, 2026 December 31, 2025

(in millions) Balance Sheet Classification June 30, 2026 December 31, 2025

Assets Liabilities Notional Assets Liabilities Notional

5 unchanged sentences

The pre-tax effect of the Company’s cash flow hedging instruments on other comprehensive income is summarized in the following table:

Three Months Ended March 31,

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

(in millions) 2026 2025 2026 2025

2 unchanged sentences

Total $ 18 $ ( 8 ) $ 28 $ ( 29 )

The Company expects approximately $ 3 million of pre-tax unrealized gains related to its foreign exchange contracts and interest rate derivatives included in accumulated other comprehensive (loss) income (“AOCI”) as of March 31, 2026 to be reclassified into earnings within the next twelve months.

For the three months ended March 31, 2026 and 2025, the total amount, net of income taxes, of the cash flow hedge effect on the accompanying condensed consolidated statements of income was $( 7 ) million and $( 1 ) million, respectively.

As of March 31, 2026 and 2025, the Company's cross-currency swaps were designated as a hedge of its net investment in certain foreign subsidiaries.

For the three months ended March 31, 2026 and 2025, the Company recorded a $ 64 million gain and $( 133 ) million loss, respectively, within AOCI as a result of these cross-currency swaps.

The Company recognized approximately $ 10 million and $ 12 million related to the excluded component as a reduction of interest expense for the three months ended March 31, 2026 and 2025, respectively.

As of March 31, 2026, the portion of the Company's foreign currency denominated debt balance (net of original issue discount) designated as a hedge of its net investment in certain foreign subsidiaries totaled € 2,575 million ($ 2,962 million).

The amount of foreign exchange gains (losses) related to the net investment hedge included in the cumulative translation adjustment component of AOCI for the three months ended March 31, 2026 and 2025 was $ 60 million and $( 144 ) million, respectively.

The Company expects approximately $ 9 million of pre-tax unrealized losses related to its foreign exchange contracts and interest rate derivatives included in accumulated other comprehensive (loss) income (“AOCI”) as of June 30, 2026 to be reclassified into earnings within the next twelve months.

For the three and six months ended June 30, 2026 and 2025, the total amount, net of income taxes, of the cash flow hedge effect on the accompanying condensed consolidated statements of income was $( 3 ) million and $ 2 million, and $( 10 ) million and $ 1 million respectively.

As of June 30, 2026 and 2025, the Company's cross-currency swaps were designated as a hedge of its net investment in certain foreign subsidiaries.

For the three and six months ended June 30, 2026, the Company recorded a $( 9 ) million loss and $ 55 million gain, respectively, within AOCI as a result of these cross-currency swaps.

For the three and six months ended June 30, 2025, the Company recorded a $( 267 ) million loss and $( 400 ) million loss, respectively, within AOCI as a result of these cross-currency swaps.

For the three and six months ended June 30, 2026 and 2025, the Company recognized approximately $ 11 million and $ 11 million, and $ 21 million and $ 23 million, respectively, related to the excluded component as a reduction of interest expense.

As of June 30, 2026, the portion of the Company's foreign currency denominated debt balance (net of original issue discount) designated as a hedge of its net investment in certain foreign subsidiaries totaled € 2,992 million ($ 3,413 million).

The amount of foreign exchange gains (losses) related to the net investment hedge included in the cumulative translation adjustment component of AOCI for the three and six months ended June 30, 2026 and 2025 was $ 40 million and $( 246 ) million, and $ 100 million and $( 390 ) million, respectively.

Fair Value Measurements

10 unchanged sentences

This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.

The carrying values of cash, cash equivalents, accounts receivable and accounts payable approximated their fair values as of March 31, 2026 and December 31, 2025 due to their short-term nature.

As of March 31, 2026 and December 31, 2025, the fair value of total debt was $ 15,908 million and $ 15,935 million, respectively, as determined under Level 2 measurements for these financial instruments.

The carrying values of cash, cash equivalents, accounts receivable and accounts payable approximated their fair values as of June 30, 2026 and December 31, 2025 due to their short-term nature.

As of June 30, 2026 and December 31, 2025, the fair value of total debt was $ 16,130 million and $ 15,935 million, respectively, as determined under Level 2 measurements for these financial instruments.

Recurring Fair Value Measurements

The following table summarizes the fair value of the Company’s financial assets and liabilities that are measured and reported at fair value on a recurring basis as of March 31, 2026:

The following table summarizes the fair value of the Company’s financial assets and liabilities that are measured and reported at fair value on a recurring basis as of June 30, 2026:

(in millions) Level 1 Level 2 Level 3 Total

21 unchanged sentences

Assumptions used to estimate the fair value of contingent consideration include various financial metrics (revenues performance targets and operating forecasts) and the probability of achieving the specific targets.

Based on the assessments of the probability of achieving specific targets, as of March 31, 2026 the Company has accrued approximately 70 % of the maximum contingent consideration payments that could potentially become payable.

The following table summarizes the changes in Level 3 financial assets and liabilities measured on a recurring basis for the three months ended March 31, 2026:

Based on the assessments of the probability of achieving specific targets, as of June 30, 2026 the Company has accrued approximately 73 % of the maximum contingent consideration payments that could potentially become payable.

The following table summarizes the changes in Level 3 financial assets and liabilities measured on a recurring basis for the six months ended June 30, 2026:

(in millions) Contingent Consideration

1 unchanged sentence

Business combinations 21

Contingent consideration paid ( 11 )

Revaluations included in earnings and foreign currency translation adjustments ( 11 )

Balance as of March 31, 2026 $ 110

Balance as of June 30, 2026 $ 104

The current portion of contingent consideration is included within accrued expenses and the long-term portion is included within other liabilities on the accompanying condensed consolidated balance sheets.

2 unchanged sentences

Non-recurring Fair Value Measurements

As of March 31, 2026, assets carried on the balance sheet and not remeasured to fair value on a recurring basis totaled $ 21,765 million and were identified as Level 3.

As of June 30, 2026, assets carried on the balance sheet and not remeasured to fair value on a recurring basis totaled $ 21,795 million and were identified as Level 3.

These assets are comprised of debt investments and cost and equity method investments of $ 442 million, goodwill of $ 16,604 million and other identifiable intangibles, net of $ 4,749 million.

Credit Arrangements

The following is a summary of the Company’s revolving credit facilities as of March 31, 2026:

The following is a summary of the Company’s revolving credit facilities as of June 30, 2026:

Interest Rates

$ 2,000 million (revolving credit facility)

Dollar Term SOFR plus a margin of 1.25 % as of March 31, 2026

Dollar Term SOFR plus a margin of 1.25 % as of June 30, 2026

$ 110 million (receivables financing facility)

Dollar Term SOFR plus a margin of 1.00 % plus a 10 basis credit spread adjustment as of March 31, 2026

Dollar Term SOFR plus a margin of 1.00 % plus a 10 basis credit spread adjustment as of June 30, 2026

The following table summarizes the Company’s debt at the dates indicated:

(dollars in millions) March 31, 2026 December 31, 2025

(dollars in millions) June 30, 2026 December 31, 2025

Revolving Credit Facility due 2030:

1 unchanged sentence

Dollar Term SOFR at average floating rates of 4.89 %

$ 1,000 $ 800

Senior Secured Credit Facilities:

20 unchanged sentences

2.250 % Senior Notes due 2029—Euro denominated

Term Loan due 2027—U.S.

Dollar Term SOFR at floating rates of 4.92 %

4.625 % Senior Notes due 2033—Euro denominated

Receivables financing facility due 2027—U.S.

6 unchanged sentences

Long-term debt $ 13,705 $ 13,884

Contractual maturities of long-term debt as of March 31, 2026 are as follows:

Contractual maturities of long-term debt as of June 30, 2026 are as follows:

(in millions)

2 unchanged sentences

Senior Secured Credit Facilities

As of March 31, 2026, the Company’s Fifth Amended and Restated Credit Agreement provided financing through several senior secured credit facilities of up to $ 6,371 million, which consisted of $ 5,376 million principal amounts of debt outstanding (as detailed in the table above), and $ 995 million of available borrowing capacity on the $ 2,000 million revolving credit facility and standby letters of credit.

As of June 30, 2026, the Company’s Fifth Amended and Restated Credit Agreement provided financing through several senior secured credit facilities of up to $ 6,333 million, which consisted of $ 5,138 million principal amounts of debt outstanding (as detailed in the table above), and $ 1,195 million of available borrowing capacity on the $ 2,000 million revolving credit facility and standby letters of credit.

The revolving credit facility is comprised of a $ 2,000 million senior secured revolving facility available in U.S.

2 unchanged sentences

Dollar denominated Term A loans due 2027 (the “Term Loan due 2027”).

The Term Loan due 2027 bears interest based on the Secured Overnight Financing Rate term rates (“Term SOFR”), plus a margin ranging from 1.125 % to 2.00 %, with a Term SOFR floor of 0.00% per annum.

The Term Loan due 2027 bore interest based on the Secured Overnight Financing Rate term rates (“Term SOFR”), plus a margin ranging from 1.125 % to 2.00 %, with a Term SOFR floor of 0.00% per annum.

The proceeds from the Term Loan due 2027 were used to repay approximately € 550 million of the 1.750 % senior notes due 2026 (the “ 1.750 % Notes”) at maturity, including the payment of fees and expenses related to the offering, and for general corporate purposes.

The Term Loan due 2027 was repaid in full on June 11, 2026 with proceeds from the 4.625 % senior notes due 2033 described below.

On June 11, 2026, the Company completed the issuance and sale of € 950 million in gross proceeds of 4.625 % senior notes due 2033 (the “ 4.625 % Notes”).

The 4.625 % Notes were issued pursuant to an Indenture, dated June 11, 2026, among the Company, U.S.

Bank National Association, as trustee of the Notes, and certain subsidiaries of the Company as guarantors.

The net proceeds from the 4.625 % Notes offering were used to repay in full the Company’s outstanding Term Loan due 2027, to repay a portion of the existing borrowings under the Company’s revolving credit facility and to pay fees and expenses related to the offering.

The 4.625 % Notes are unsecured obligations of the Company, will mature on June 15, 2033, and bear interest at the rate of 4.625 % per year, with interest payable semiannually on June 15 and December 15 of each year, beginning on December 15, 2026.

The Company may redeem the 4.625 % Notes prior to their final stated maturity, subject to a customary make-whole premium, at any time prior to June 15, 2029 (subject to a customary “equity claw” redemption right) and thereafter subject to a redemption premium declining from 1.02313 % to 0.000% .

On March 16, 2026, the proceeds from the Term Loan due 2027 were used to repay all of the Company’s outstanding € 550 million 1.750 % Notes.

4 unchanged sentences

The Company’s long-term debt arrangements contain other usual and customary restrictive covenants that, among other things, place limitations on the Company’s ability to declare dividends.

As of March 31, 2026, the Company was in compliance in all material respects with the financial covenants under the Company’s financing arrangements .

As of June 30, 2026, the Company was in compliance in all material respects with the financial covenants under the Company’s financing arrangements .

Contingencies

13 unchanged sentences

The Company is authorized to issue 1.0 million shares of preferred stock, $ 0.01 per share par value.

No shares of preferred stock were issued or outstanding as of March 31, 2026 or December 31, 2025.

No shares of preferred stock were issued or outstanding as of June 30, 2026 or December 31, 2025.

Equity Repurchase Program

As of March 31, 2026, the total stock repurchase authorization under the Company's equity repurchase program (the "Repurchase Program") was $ 13,725 million.

On May 7, 2026, the Company's Board of Directors increased the stock repurchase authorization under the Company's equity repurchase program (the "Repurchase Program") with respect to the repurchase of the Company's common stock by an additional $ 2,000 million, which increased the total amount that has been authorized under the Repurchase Program to $ 15,725 million.

The Repurchase Program does not obligate the Company to repurchase any particular amount of common stock, and it may be modified, extended, suspended or discontinued at any time.

During the three months ended March 31, 2026, the Company repurchased 3.2 million shares of its common stock for $ 552 million under the Repurchase Program.

As of March 31, 2026, the Company had remaining authorization to repurchase up to $ 1,217 million of its common stock under the Repurchase Program.

During the six months ended June 30, 2026, the Company repurchased 5.5 million shares of its common stock for $ 950 million under the Repurchase Program.

As of June 30, 2026, the Company had remaining authorization to repurchase up to $ 2,819 million of its common stock under the Repurchase Program.

In addition, from time to time, the Company has repurchased and may continue to repurchase common stock through private or other transactions outside of the Repurchase Program.

Business Combinations

The Company completed individually and in the aggregate immaterial acquisitions during the three months ended March 31, 2026.

The Company completed individually and in the aggregate immaterial acquisitions during the six months ended June 30, 2026.

The Company’s assessment of fair value, including the valuation of certain identified intangibles, and the purchase price allocation related to these acquisitions is preliminary and subject to change upon completion.

4 unchanged sentences

The following table provides certain preliminary financial information for these acquisitions:

(in millions) March 31, 2026

(in millions) June 30, 2026

Assets acquired:

1 unchanged sentence

Accounts receivable 36

Other assets 92

Other identifiable intangibles 87

4 unchanged sentences

(1) Net assets acquired includes contingent consideration and deferred purchase price of $ 26 million.

None of the goodwill from acquisitions during the three months ended March 31, 2026 is deductible for income tax purposes.

The portion of goodwill deductible for income tax purposes was preliminarily assessed as $ 4 million .

The following table provides a summary of the preliminary estimated fair value of certain intangible assets acquired:

(in millions) Amortization Period March 31, 2026

(in millions) Amortization Period June 30, 2026

Other identifiable intangibles:

Customer relationships 10 - 15 years $ 73

Backlog 1 year 6

Software and related assets 3 - 9 years 4

Non-compete agreements 3 years 3

Databases 3 years 1

Total Other identifiable intangibles $ 87

9 unchanged sentences

Foreign currency translation and other ( 1 )

Balance as of March 31, 2026 $ 43

Balance as of June 30, 2026 $ 67

The reversals were due to changes in estimates primarily resulting from the redeployment of staff and higher than expected voluntary terminations.

Restructuring costs are not allocated to the Company’s reportable segments as they are not part of the segment performance measures regularly reviewed by management.

The Company expects that the majority of the restructuring accruals as of March 31, 2026 will be paid in 2026 and 2027.

The Company's effective income tax rate was 18.0 % and 18.9 % in the first quarter of 2026 and 2025, respectively.

The effective income tax rate in the first quarter of 2026 and 2025 was favorably impacted due to changes in the geographical mix of earnings amongst the United States and foreign tax jurisdictions.

The Company expects that the majority of the restructuring accruals as of June 30, 2026 will be paid in 2026 and 2027.

The Company's effective income tax rate was 19.9 % and 17.3 % in the second quarter of 2026 and 2025, respectively.

The Company's effective income tax rate was 18.9 % and 18.1 % in the first six months of 2026 and 2025, respectively.

The effective income tax rate in the second quarter and in the first six months of 2026 and 2025 was impacted due to changes in the geographical mix of earnings amongst the United States and foreign tax jurisdictions.

On December 12, 2022, the European Union member states agreed to implement the Organization for Economic Cooperation and Development’s (“OECD”) Pillar Two global corporate minimum tax rate of 15% on companies with revenues of at least €750 million, which went into effect in 2025.

In January 2026, the OECD released Administrative Guidance establishing a “side‑by‑side” system that is intended to reduce the compliance burden of calculating the Pillar 2 top-up-tax amounts for jurisdictions with similar regimes with minimum tax requirements for fiscal years beginning on or after January 1, 2026, subject to adoption by relevant jurisdictions.

This is achieved by deeming a top-up tax amount of zero as it relates to Income Inclusion Rules and Undertaxed Profits Rules for MNE groups with an ultimate parent entity in such jurisdictions;

In January 2026, the OECD released Administrative Guidance establishing a “side‑by‑side” system that is intended to reduce the compliance burden of calculating the Pillar Two top-up-tax amounts for jurisdictions with similar regimes with minimum tax requirements for fiscal years beginning on or after January 1, 2026, subject to adoption by relevant jurisdictions.

This is achieved by deeming a top-up tax amount of zero as it relates to Income Inclusion Rules and Undertaxed Profits Rules for Multinational Enterprise groups with an ultimate parent entity in such jurisdictions;

however, this guidance does not affect the application of local minimum or qualified domestic top‑up taxes in foreign jurisdictions.

During the three months ended March 31, 2026, the Company evaluated enacted and substantively enacted Pillar Two legislation and performed calculations under applicable safe harbor frameworks to identify jurisdictions with effective tax rates below 15%, and any resulting top‑up tax was recorded as a period cost in the annual effective tax rate.

During the six months ended June 30, 2026, the Company evaluated enacted and substantively enacted Pillar Two legislation and performed calculations under applicable safe harbor frameworks to identify jurisdictions with effective tax rates below 15%, and any resulting top‑up tax was recorded as a period cost in the annual effective tax rate.

The Company continues to monitor global developments and is assessing the potential impact of these rules on its income tax provision.

5 unchanged sentences

Reclassification adjustments — 13 — ( 3 ) 10

Balance as of March 31, 2026 $ ( 1,145 ) $ ( 33 ) $ 40 $ 170 $ ( 968 )

Balance as of June 30, 2026 $ ( 1,145 ) $ ( 15 ) $ 39 $ 157 $ ( 964 )

Below is a summary of the adjustments for amounts reclassified from AOCI into the condensed consolidated statements of income and the affected financial statement line item:

(in millions) Affected Financial Statement Line Item Three Months Ended March 31,

(in millions) Affected Financial Statement Line Item Three Months Ended June 30, Six Months Ended June 30,

2026 2025 2026 2025

Derivative instruments:

9 unchanged sentences

Additionally, Real-World Late Phase and certain other Real-World offerings that had become more closely related operationally to the clinical research business, were moved from the Technology & Analytics Solutions segment to the Research & Development Solutions segment.

The Company is reflecting the recast of segment information for the three months ended March 31, 2025 on this basis in the table below.

The Company is reflecting the recast of segment information for the three and six months ended June 30, 2025 on this basis in the table below.

The Company is now managed through two reportable segments, Commercial Solutions and Research & Development Solutions.

9 unchanged sentences

The Company’s reportable segment information is presented below:

Three Months Ended March 31,

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

(in millions) 2026 2025 2026 2025

25 unchanged sentences

The following table presents the computation of basic and diluted earnings per share:

Three Months Ended March 31,

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

(in millions, except per share data) 2026 2025 2026 2025

Net income attributable to IQVIA Holdings Inc.

$ 256 $ 266 $ 530 $ 515

Basic weighted average common shares outstanding 166.1 171.8 167.2 173.7

6 unchanged sentences

Performance awards are included in diluted earnings per share based on if the performance targets have been met at the end of the reporting period.

For the three months ended March 31, 2026 and 2025, the weighted average number of outstanding stock-based awards not included in the computation of diluted earnings per share because they are subject to performance conditions that have not been met at the end of the reporting period or the effect of including such stock-based awards in the computation would be anti-dilutive was 2.2 million and 2.2 million, respectively.

For the three and six months ended June 30, 2026 and 2025, the weighted average number of outstanding stock-based awards not included in the computation of diluted earnings per share because they are subject to performance conditions that have not been met at the end of the reporting period or the effect of including such stock-based awards in the computation would be anti-dilutive was 2.8 million and 3.6 million, and 2.5 million and 3.0 million, respectively.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements