SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2017

Financial Information by Segment

	Three Months Ended September 30,
	2017								2016
	MIS		MA		Eliminations		Consolidated		MIS		MA		Eliminations		Consolidated
Revenue	$	723.2	$	372.8	$	(33.1)	$	1,062.9	$	637.6	$	309.0	$	(29.5)	$	917.1
Operating, SG&A		319.2		278.3		(33.1)		564.4		272.8		235.2		(29.5)		478.5
Adjusted Operating Income		404.0		94.5		-		498.5		364.8		73.8		-		438.6
Less:
Restructuring		-		-		-		-		7.6		0.8		-		8.4
Depreciation and amortization		18.6		24.4		-		43.0		19.1		13.6		-		32.7
Acquisition-Related Expenses		-		10.1		-		10.1		-		-		-		-
Operating income	$	385.4	$	60.0	$	-	$	445.4	$	338.1	$	59.4	$	-	$	397.5
	Nine Months Ended September 30,
	2017								2016
	MIS		MA		Eliminations		Consolidated		MIS		MA		Eliminations		Consolidated
Revenue	$	2,131.1	$	1,001.1	$	(93.6)	$	3,038.6	$	1,836.9	$	908.9	$	(83.7)	$	2,662.1
Operating, SG&A		898.9		761.9		(93.6)		1,567.2		830.1		698.1		(83.7)		1,444.5
Adjusted Operating Income		1,232.2		239.2		-		1,471.4		1,006.8		210.8		-		1,217.6
Less:
Restructuring		-		-		-		-		10.2		1.8		-		12.0
Depreciation and amortization		56.4		52.0		-		108.4		54.8		39.0		-		93.8
Acquisition-Related Expenses		-		16.7		-		16.7		-		-		-		-
Operating income	$	1,175.8	$	170.5	$	-	$	1,346.3	$	941.8	$	170.0	$	-	$	1,111.8

Revenue by Line of Business within Each Reportable Segment

		Three Months Ended September 30,				Nine Months Ended September 30,
		2017		2016		2017		2016
MIS:
Corporate finance (CFG)		$	350.2	$	299.6	$	1,058.8	$	844.7
Structured finance (SFG)			128.3		104.2		347.7		306.3
Financial institutions (FIG)			102.1		95.8		316.8		280.4
Public, project and infrastructure finance (PPIF)			109.2		105.2		312.0		309.0
	Total ratings revenue		689.8		604.8		2,035.3		1,740.4
MIS Other			4.4		7.5		13.8		22.6
	Total external revenue		694.2		612.3		2,049.1		1,763.0
Intersegment royalty			29.0		25.3		82.0		73.9
	Total		723.2		637.6		2,131.1		1,836.9
MA:
Research, data and analytics (RD&A)			218.4		167.7		574.7		500.9
Enterprise risk solutions (ERS)			112.6		101.5		305.8		288.5
Professional services (PS)			37.7		35.6		109.0		109.7
	Total external revenue		368.7		304.8		989.5		899.1
Intersegment revenue			4.1		4.2		11.6		9.8
	Total		372.8		309.0		1,001.1		908.9
Eliminations			(33.1)		(29.5)		(93.6)		(83.7)
	Total MCO	$	1,062.9	$	917.1	$	3,038.6	$	2,662.1

Consolidated Revenue Information by Geographic Area

Consolidated Revenue Information by Geographic Area:
		Three Months Ended September 30,				Nine months ended September 30,
		2017		2016		2017		2016
United States		$	588.4	$	545.7	$	1,734.0	$	1,571.6
International:
	EMEA		291.0		225.9		779.3		665.4
	Asia-Pacific		118.6		92.5		336.0		272.0
	Americas		64.9		53.0		189.3		153.1
Total International			474.5		371.4		1,304.6		1,090.5
Total		$	1,062.9	$	917.1	$	3,038.6	$	2,662.1