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Taxes on Income (Tables)
12 Months Ended
Dec. 31, 2018
Income Tax Disclosure [Abstract]  
Schedule of Income Before Taxes from Domestic and Foreign Operations
Income before taxes on income resulting from domestic and foreign operations is as follows:
(in millions)
Year Ended December 31,
 
2018
 
2017
 
2016
Domestic operations
$
1,857

 
$
1,723

 
$
2,585

Foreign operations
824

 
738

 
603

Total income before taxes
$
2,681

 
$
2,461

 
$
3,188

Schedule of Provision for Taxes on Income
The provision for taxes on income consists of the following:
(in millions)
Year Ended December 31,
 
2018
 
2017
 
2016
Federal:
 
 
 
 
 
Current
$
183

 
$
489

 
$
641

Deferred
68

 
63

 
79

Total federal
251

 
552

 
720

Foreign:
 
 
 
 
 
Current
214

 
194

 
133

Deferred
(2
)
 
(3
)
 
(4
)
Total foreign
212

 
191

 
129

State and local:
 
 
 
 
 
Current
81

 
73

 
99

Deferred
16

 
7

 
12

Total state and local
97

 
80

 
111

Total provision for taxes
$
560

 
$
823

 
$
960

Schedule of Reconciliation of Federal Statutory Income Tax Rate to Effective Income Tax Rate
A reconciliation of the U.S. federal statutory income tax rate to our effective income tax rate for financial reporting purposes is as follows: 
 
Year Ended December 31,
 
2018
 
2017
 
2016
U.S. federal statutory income tax rate
21.0
 %
 
35.0
 %
 
35.0
 %
State and local income taxes
2.8

 
2.5

 
2.7

Divestitures

 

 
(4.3
)
Foreign operations
0.2

 
(3.9
)
 
(2.0
)
TCJA Transition Tax
(0.3
)
 
6.0

 

Stock-based compensation
(1.2
)
 
(2.7
)
 

S&P Dow Jones Indices LLC joint venture
(1.2
)
 
(1.8
)
 
(1.2
)
Tax credits and incentives
(1.7
)
 
(2.1
)
 
(1.6
)
Other, net
1.3

 
0.4

 
1.5

Effective income tax rate
20.9
 %
 
33.4
 %
 
30.1
 %
Schedule of Differences Between the Accounting for Income and Expenses for Financial Reporting and Income Tax
The principal temporary differences between the accounting for income and expenses for financial reporting and income tax purposes are as follows: 
(in millions)
December 31,
 
2018
 
2017
Deferred tax assets:
 
 
 
Legal and regulatory settlements
$
2

 
$
27

Employee compensation
57

 
50

Accrued expenses
36

 
47

Postretirement benefits
48

 
34

Unearned revenue
11

 
26

Allowance for doubtful accounts
8

 
8

Loss carryforwards
155

 
135

Other
24

 
45

Total deferred tax assets
341

 
372

Deferred tax liabilities:
 
 
 
Goodwill and intangible assets
(295
)
 
(249
)
Fixed assets

 
(4
)
Total deferred tax liabilities
(295
)
 
(253
)
Net deferred income tax asset before valuation allowance
46

 
119

Valuation allowance
(156
)
 
(127
)
Net deferred income tax (liability) asset
$
(110
)
 
$
(8
)
Reported as:
 
 
 
Non-current deferred tax assets
$
52

 
$
59

Non-current deferred tax liabilities
(162
)
 
(67
)
Net deferred income tax (liability) asset
$
(110
)
 
$
(8
)


Schedule of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
(in millions)
Year ended December 31,
 
2018
 
2017
 
2016
Balance at beginning of year
$
212

 
$
221

 
$
162

Additions based on tax positions related to the current year
19

 
23

 
48

Additions for tax positions of prior years
2

 
17

 
20

Reduction for tax positions of prior years
(21
)
 
(32
)
 
(3
)
Reduction for settlements
(65
)
 
(5
)
 
(6
)
Expiration of applicable statutes of limitations

 
(12
)
 

Balance at end of year
$
147

 
$
212

 
$
221