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SEGMENT INFORMATION (Tables)
12 Months Ended
Dec. 31, 2015
Financial Information by Segment
Year Ended December 31,
20152014
MISMAEliminationsConsolidatedMISMAEliminationsConsolidated
Revenue$2,427.7$1,163.4$(106.6)$3,484.5$2,353.4$1,081.8$(100.9)$3,334.3
Operating, SG&A1,120.3883.9(106.6)1,897.61,076.2824.3(100.9)1,799.6
Adjusted Operating Income1,307.4279.5-1,586.91,277.2257.5-1,534.7
Less:Depreciation and amortization
66.047.5-113.549.446.2-95.6
Operating income$1,241.4$232.0$-$1,473.4$1,227.8$211.3$-$1,439.1
Year Ended December 31,
2013
MISMAEliminationsConsolidated
Revenue$2,150.2 $ 913.3 $ (91.0)$2,972.5
Operating, SG&A1,034.0701.5(91.0)1,644.5
Adjusted Operating Income1,116.2211.8-1,328.0
Less:Depreciation and amortization46.746.7-93.4
Operating income$1,069.5$165.1$-$1,234.6
Revenue by Line of Business within Each Rreportable Segment
Year Ended December 31,
201520142013
MIS:
Corporate finance (CFG)$1,112.7$1,109.3$996.8
Structured finance (SFG)449.1426.5382.5
Financial institutions (FIG)365.6354.7338.8
Public, project and infrastructure finance (PPIF)376.4357.3341.3
Total ratings revenue2,303.82,247.82,059.4
MIS Other30.418.012.2
Total external revenue2,334.22,265.82,071.6
Intersegment royalty93.587.678.6
Total2,427.72,353.42,150.2
MA:
Research, data and analytics (RD&A)626.4571.8519.8
Enterprise risk solutions (ERS)374.0328.5262.5
Professional services (PS)149.9168.2118.6
Total external revenue1,150.31,068.5900.9
Intersegment revenue13.113.312.4
Total1,163.41,081.8913.3
Eliminations(106.6)(100.9)(91.0)
Total MCO$3,484.5$3,334.3$2,972.5
Consolidated Revenue and Long-Lived Assets Information by Geographic Area
Year Ended December 31,
201520142013
Revenue:
U.S.$2,009.0$1,814.5$1,626.5
International:
EMEA882.3952.8862.8
Asia-Pacific364.2338.3286.1
Americas229.0228.7197.1
Total International1,475.51,519.81,346.0
Total$3,484.5$3,334.3$2,972.5
Long-lived assets at December 31:
United States$657.5$657.6$552.3
International924.31,011.3613.2
Total$1,581.8$1,668.9$1,165.5