SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2017

Financial Information by Segment

	Three Months Ended June 30,
	2017								2016
	MIS		MA		Eliminations		Consolidated		MIS		MA		Eliminations		Consolidated
Revenue	$	713.7	$	317.6	$	(30.8)	$	1,000.5	$	650.3	$	306.0	$	(27.4)	$	928.9
Operating, SG&A		291.4		242.9		(30.8)		503.5		281.3		233.6		(27.4)		487.5
Adjusted Operating Income		422.3		74.7		-		497.0		369.0		72.4		-		441.4
Less:
Depreciation and amortization		18.9		14.0		-		32.9		18.2		13.0		-		31.2
Acquisition-Related Expenses		-		6.6		-		6.6		-		-		-		-
Operating income	$	403.4	$	54.1	$	-	$	457.5	$	350.8	$	59.4	$	-	$	410.2
	Six Months Ended June 30,
	2017								2016
	MIS		MA		Eliminations		Consolidated		MIS		MA		Eliminations		Consolidated
Revenue	$	1,407.9	$	628.3	$	(60.5)	$	1,975.7	$	1,199.4	$	599.8	$	(54.2)	$	1,745.0
Operating, SG&A		579.7		483.6		(60.5)		1,002.8		559.9		463.9		(54.2)		969.6
Adjusted Operating Income		828.2		144.7		-		972.9		639.5		135.9		-		775.4
Less:
Depreciation and amortization		37.8		27.6		-		65.4		35.7		25.4		-		61.1
Acquisition-Related Expenses		-		6.6		-		6.6		-		-		-		-
Operating income	$	790.4	$	110.5	$	-	$	900.9	$	603.8	$	110.5	$	-	$	714.3

Revenue by Line of Business within Each Reportable Segment

		Three Months Ended June 30,				Six Months Ended June 30,
		2017		2016		2017		2016
MIS:
Corporate finance (CFG)		$	355.8	$	304.9	$	708.6	$	545.2
Structured finance (SFG)			119.2		111.5		219.4		202.1
Financial institutions (FIG)			102.4		89.7		214.7		184.6
Public, project and infrastructure finance (PPIF)			104.7		112.3		202.8		203.8
	Total ratings revenue		682.1		618.4		1,345.5		1,135.7
MIS Other			4.6		7.3		9.4		15.1
	Total external revenue		686.7		625.7		1,354.9		1,150.8
Intersegment royalty			27.0		24.6		53.0		48.6
	Total		713.7		650.3		1,407.9		1,199.4
MA:
Research, data and analytics (RD&A)			180.9		168.3		356.3		333.2
Enterprise risk solutions (ERS)			97.3		97.5		193.2		187.0
Professional services (PS)			35.6		37.4		71.3		74.0
	Total external revenue		313.8		303.2		620.8		594.2
Intersegment revenue			3.8		2.8		7.5		5.6
	Total		317.6		306.0		628.3		599.8
Eliminations			(30.8)		(27.4)		(60.5)		(54.2)
	Total MCO	$	1,000.5	$	928.9	$	1,975.7	$	1,745.0

		Three Months Ended June 30,				Six Months Ended June 30,
		2017		2016		2017		2016
MIS:
Corporate finance (CFG)		$	355.8	$	304.9	$	708.6	$	545.2
Structured finance (SFG)			119.2		111.5		219.4		202.1
Financial institutions (FIG)			102.4		89.7		214.7		184.6
Public, project and infrastructure finance (PPIF)			104.7		112.3		202.8		203.8
	Total ratings revenue		682.1		618.4		1,345.5		1,135.7
MIS Other			4.6		7.3		9.4		15.1
	Total external revenue		686.7		625.7		1,354.9		1,150.8
Intersegment royalty			27.0		24.6		53.0		48.6
	Total		713.7		650.3		1,407.9		1,199.4
MA:
Research, data and analytics (RD&A)			180.9		168.3		356.3		333.2
Enterprise risk solutions (ERS)			97.3		97.5		193.2		187.0
Professional services (PS)			35.6		37.4		71.3		74.0
	Total external revenue		313.8		303.2		620.8		594.2
Intersegment revenue			3.8		2.8		7.5		5.6
	Total		317.6		306.0		628.3		599.8
Eliminations			(30.8)		(27.4)		(60.5)		(54.2)
	Total MCO	$	1,000.5	$	928.9	$	1,975.7	$	1,745.0

Consolidated Revenue Information by Geographic Area

Consolidated Revenue Information by Geographic Area:
		Three Months Ended June 30,				Six Months Ended June 30,
		2017		2016		2017		2016
United States		$	567.8	$	545.9	$	1,145.6	$	1,025.9
International:
	EMEA		252.0		229.3		488.3		439.5
	Asia-Pacific		118.0		97.5		217.4		179.5
	Americas		62.7		56.2		124.4		100.1
Total International			432.7		383.0		830.1		719.1
Total		$	1,000.5	$	928.9	$	1,975.7	$	1,745.0