SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2016

Financial Information by Segment

		Three Months Ended September 30,
		2016								2015
		MIS		MA		Eliminations		Consolidated		MIS		MA		Eliminations		Consolidated
Revenue		$	637.6	$	309.0	$	(29.5)	$	917.1	$	571.6	$	290.1	$	(26.8)	$	834.9
Operating, SG&A			272.8		235.2		(29.5)		478.5		268.1		215.6		(26.8)		456.9
Adjusted Operating Income			364.8		73.8		-		438.6		303.5		74.5		-		378.0
Less:
	Restructuring		7.6		0.8		-		8.4		-		-		-		-
	Depreciation and amortization		19.1		13.6		-		32.7		16.9		11.4		-		28.3
Operating income		$	338.1	$	59.4	$	-	$	397.5	$	286.6	$	63.1	$	-	$	349.7
		Nine Months Ended September 30,
		2016								2015
		MIS		MA		Eliminations		Consolidated		MIS		MA		Eliminations		Consolidated
Revenue		$	1,836.9	$	908.9	$	(83.7)	$	2,662.1	$	1,859.1	$	838.7	$	(79.2)	$	2,618.6
Operating, SG&A			830.1		698.1		(83.7)		1,444.5		836.4		636.3		(79.2)		1,393.5
Adjusted Operating Income			1,006.8		210.8		-		1,217.6		1,022.7		202.4		-		1,225.1
Less:
	Restructuring		10.2		1.8		-		12.0		-		-		-		-
	Depreciation and amortization		54.8		39.0		-		93.8		48.7		36.1		-		84.8
Operating income		$	941.8	$	170.0	$	-	$	1,111.8	$	974.0	$	166.3	$	-	$	1,140.3

Revenue by Line of Business within Each Reportable Segment

		Three Months Ended September 30,				Nine Months Ended September 30,
		2016		2015		2016		2015
MIS:
Corporate finance (CFG)		$	299.6	$	248.3	$	844.7	$	866.6
Structured finance (SFG)			104.2		112.5		306.3		335.0
Financial institutions (FIG)			95.8		89.5		280.4		273.7
Public, project and infrastructure finance (PPIF)			105.2		90.6		309.0		291.2
	Total ratings revenue		604.8		540.9		1,740.4		1,766.5
MIS Other			7.5		7.2		22.6		23.1
	Total external revenue		612.3		548.1		1,763.0		1,789.6
Intersegment royalty			25.3		23.5		73.9		69.5
	Total		637.6		571.6		1,836.9		1,859.1
MA:
Research, data and analytics (RD&A)			167.7		157.9		500.9		465.0
Enterprise risk solutions (ERS)			101.5		92.2		288.5		252.5
Professional services (PS)			35.6		36.7		109.7		111.5
	Total external revenue		304.8		286.8		899.1		829.0
Intersegment revenue			4.2		3.3		9.8		9.7
	Total		309.0		290.1		908.9		838.7
Eliminations			(29.5)		(26.8)		(83.7)		(79.2)
	Total MCO	$	917.1	$	834.9	$	2,662.1	$	2,618.6

Consolidated Revenue Information by Geographic Area

Consolidated Revenue Information by Geographic Area:
		Three Months Ended September 30,				Nine Months Ended September 30,
		2016		2015		2016		2015
United States		$	545.7	$	482.1	$	1,571.6	$	1,527.8
International:
	EMEA		225.9		215.4		665.4		660.4
	Asia-Pacific		92.5		85.5		272.0		270.8
	Americas		53.0		51.9		153.1		159.6
Total International			371.4		352.8		1,090.5		1,090.8
Total		$	917.1	$	834.9	$	2,662.1	$	2,618.6