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Segment and Related Information
6 Months Ended
Jun. 30, 2016
Segment Reporting [Abstract]  
Segment and Related Information
Segment and Related Information

We have four reportable segments: S&P Global Ratings, S&P Global Market Intelligence, S&P DJ Indices and S&P Global Platts. Our Chief Executive Officer is our chief operating decision-maker and evaluates performance of our segments and allocates resources based primarily on operating profit. Segment operating profit does not include unallocated expense or interest expense as these are costs that do not affect the operating results of our segments.

A summary of operating results by segment for the periods ended June 30 is as follows: 
Three Months
2016
 
2015
(in millions)
Revenue
 
Operating Profit
 
Revenue
 
Operating Profit
S&P Global Ratings 1
$
682

 
$
396

 
$
658

 
$
361

S&P Global Market Intelligence 2
416

 
93

 
324

 
63

S&P DJ Indices 3
153

 
100

 
148

 
96

S&P Global Platts 4
255

 
93

 
234

 
87

Intersegment elimination 5
(24
)
 

 
(22
)
 

Total operating segments
1,482

 
682

 
1,342

 
607

Unallocated expense 6

 
(31
)
 

 
(25
)
Total
$
1,482

 
$
651

 
$
1,342

 
$
582


Six Months
2016
 
2015
(in millions)
Revenue
 
Operating Profit
 
Revenue
 
Operating Profit
S&P Global Ratings 1
$
1,234

 
$
658

 
$
1,264

 
$
652

S&P Global Market Intelligence 2
824

 
173

 
644

 
125

S&P DJ Indices 3
304

 
200

 
291

 
191

S&P Global Platts 4
509

 
196

 
459

 
173

Intersegment elimination 5
(48
)
 

 
(43
)
 

Total operating segments
2,823

 
1,227

 
2,615

 
1,141

Unallocated expense 6

 
(64
)
 

 
(58
)
Total
$
2,823

 
$
1,163

 
$
2,615

 
$
1,083


1 
Operating profit for the three and six months ended June 30, 2016 includes a benefit related to legal settlement insurance recoveries of $37 million and $52 million, respectively, partially offset by legal settlement charges of $3 million and $6 million, respectively. Operating profit for the three and six months ended June 30, 2015 includes a benefit related to legal settlement insurance recoveries of $45 million and $80 million, respectively, partially offset by legal settlement charges of $4 million and $34 million, respectively. Additionally, the three and six months ended June 30, 2016 and 2015 includes restructuring charges of $6 million and $8 million, respectively. Operating profit also includes amortization of intangibles from acquisitions of $1 million for the three months ended June 30, 2016 and 2015 and $3 million and $2 million for the six months ended June 30, 2016 and 2015, respectively.
2 
Operating profit includes disposition-related costs of $8 million for the three and six months ended June 30, 2016 and a technology related impairment charge of $24 million for the six months ended June 30, 2016. Additionally, restructuring charges of $12 million are included for the three and six months ended June 30, 2015. Operating profit also includes amortization of intangibles from acquisitions of $18 million and $36 million for the three and six months ended June 30, 2016, respectively, and $6 million and $12 million for the three and six months ended June 30, 2015, respectively.
3 
Operating profit includes amortization of intangibles from acquisitions of $1 million for the three months ended June 30, 2016 and 2015 and $3 million for the six months ended June 30, 2016 and 2015.
4 
Operating profit for the three and six months ended June 30, 2016 includes disposition-related costs of $2 million and $4 million, respectively. Additionally, restructuring charges of $1 million are included for the three and six months ended June 30, 2015. Operating profit also includes amortization of intangibles from acquisitions of $3 million for the three months ended June 30, 2016 and 2015 and $5 million and $6 million for the six months ended June 30, 2016 and 2015, respectively.
5 
Revenue for S&P Global Ratings and expenses for S&P Global Market Intelligence include an intersegment royalty charged to S&P Global Market Intelligence for the rights to use and distribute content and data developed by S&P Global Ratings.
6 
The three and six months ended June 30, 2016 includes $3 million from a disposition-related reserve release. The three and six months ended June 30, 2015 include a gain of $11 million related to the sale of our interest in a legacy McGraw Hill Construction investment. See Note 2 Acquisitions and Divestitures for additional information. Additionally, restructuring charges of $1 million are included for the three and six months ended June 30, 2015.

The following provides revenue by geographic region for the periods ended June 30:
(in millions)
Three Months
 
Six Months
 
2016
 
2015
 
2016
 
2015
U.S.
$
910

 
$
810

 
$
1,750

 
$
1,575

European region
339

 
310

 
636

 
617

Asia
156

 
151

 
293

 
279

Rest of the world
77

 
71

 
144

 
144

Total
$
1,482

 
$
1,342

 
$
2,823

 
$
2,615



See Note 2 Acquisitions and Divestitures and Note 10 Restructuring for additional actions that impacted the segment operating results.