SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2016

Financial Information by Segment

		Three Months Ended March 31,
		2016								2015
		MIS		MA		Eliminations		Consolidated		MIS		MA		Eliminations		Consolidated
Revenue		$	549.1	$	293.8	$	(26.8)	$	816.1	$	624.6	$	266.6	$	(25.6)	$	865.6
Operating, SG&A			278.6		230.3		(26.8)		482.1		281.1		210.2		(25.6)		465.7
Adjusted Operating Income			270.5		63.5		-		334.0		343.5		56.4		-		399.9
Less:
	Depreciation and amortization		17.5		12.4		-		29.9		16.0		12.6		-		28.6
Operating income		$	253.0	$	51.1	$	-	$	304.1	$	327.5	$	43.8	$	-	$	371.3

Revenue by Line of Business within Each Reportable Segment

		Three Months Ended March 31,
		2016		2015
MIS:
Corporate finance (CFG)		$	240.3	$	298.7
Structured finance (SFG)			90.6		101.3
Financial institutions (FIG)			94.9		93.8
Public, project and infrastructure finance (PPIF)			91.5		100.7
	Total ratings revenue		517.3		594.5
MIS Other			7.8		7.8
	Total external revenue		525.1		602.3
Intersegment royalty			24.0		22.3
	Total		549.1		624.6
MA:
Research, data and analytics (RD&A)			164.9		149.6
Enterprise risk solutions (ERS)			89.5		77.1
Professional services (PS)			36.6		36.6
	Total external revenue		291.0		263.3
Intersegment revenue			2.8		3.3
	Total		293.8		266.6
Eliminations			(26.8)		(25.6)
	Total MCO	$	816.1	$	865.6

Consolidated Revenue Information by Geographic Area

Consolidated Revenue Information by Geographic Area:
		Three Months Ended March 31,
		2016		2015
Revenue
United States		$	480.1	$	499.8
International:
	EMEA		210.1		227.6
	Asia-Pacific		81.7		86.1
	Americas		43.7		52.1
Total International			335.5		365.8
Total		$	815.6	$	865.6