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Condensed Consolidating Financial Statements (Tables)
12 Months Ended
Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract]  
Statement of Income
 
Statement of Income
 
Year Ended December 31, 2018
(in millions)
S&P Global Inc.
 
Standard & Poor's Financial Services LLC
 
Non-Guarantor Subsidiaries
 
Eliminations
 
S&P Global Inc. Consolidated
Revenue
$
776

 
$
1,695

 
$
3,940

 
$
(153
)
 
$
6,258

Expenses:
 
 
 
 
 
 
 
 
 
Operating-related expenses
127

 
434

 
1,293

 
(153
)
 
1,701

Selling and general expenses
183

 
292

 
1,086

 

 
1,561

Depreciation
37

 
7

 
40

 

 
84

Amortization of intangibles

 

 
122

 

 
122

Total expenses
347

 
733

 
2,541

 
(153
)
 
3,468

Operating profit
429

 
962

 
1,399

 

 
2,790

Other income, net
(27
)
 

 
2

 

 
(25
)
Interest expense (income), net
143

 
2

 
(11
)
 

 
134

Non-operating intercompany transactions
363

 
(75
)
 
(1,872
)
 
1,584

 

(Loss) income before taxes on income
(50
)
 
1,035

 
3,280

 
(1,584
)
 
2,681

(Benefit) Provision for taxes on income
(14
)
 
250

 
324

 

 
560

Equity in net income of subsidiaries
3,576

 
(1
)
 

 
(3,575
)
 

Net income
3,540

 
784

 
2,956

 
(5,159
)
 
2,121

Less: net income attributable to noncontrolling interests

 

 

 
(163
)
 
(163
)
Net income attributable to S&P Global Inc.
$
3,540

 
$
784

 
$
2,956

 
$
(5,322
)
 
$
1,958

Comprehensive income
$
3,510

 
$
783

 
$
2,884

 
$
(5,159
)
 
$
2,018



 
Statement of Income
 
Year Ended December 31, 2017
(in millions)
S&P Global Inc.
 
Standard & Poor's Financial Services LLC
 
Non-Guarantor Subsidiaries
 
Eliminations
 
S&P Global Inc. Consolidated
Revenue
$
717

 
$
1,780

 
$
3,704

 
$
(138
)
 
$
6,063

Expenses:
 
 
 
 
 
 
 
 
 
Operating-related expenses
90

 
482

 
1,261

 
(138
)
 
1,695

Selling and general expenses
196

 
345

 
1,064

 

 
1,605

Depreciation
31

 
11

 
40

 

 
82

Amortization of intangibles

 

 
98

 

 
98

Total expenses
317

 
838

 
2,463

 
(138
)
 
3,480

Operating profit
400

 
942

 
1,241

 

 
2,583

Other income, net
(16
)
 

 
(11
)
 

 
(27
)
Interest expense (income), net
163

 

 
(14
)
 

 
149

Non-operating intercompany transactions
365

 
(77
)
 
(2,463
)
 
2,175

 

(Loss) income before taxes on income
(112
)
 
1,019

 
3,729

 
(2,175
)
 
2,461

Provision for taxes on income
26

 
370

 
427

 

 
823

Equity in net income of subsidiaries
3,808

 

 

 
(3,808
)
 

Net income
3,670

 
649

 
3,302

 
(5,983
)
 
1,638

Less: net income attributable to noncontrolling interests

 

 

 
(142
)
 
(142
)
Net income attributable to S&P Global Inc.
$
3,670

 
$
649

 
$
3,302

 
$
(6,125
)
 
$
1,496

Comprehensive income
$
3,694

 
$
649

 
$
3,401

 
$
(5,982
)
 
$
1,762

 
Statement of Income
 
Year Ended December 31, 2016
(in millions)
S&P Global Inc.
 
Standard & Poor's Financial Services LLC
 
Non-Guarantor Subsidiaries
 
Eliminations
 
S&P Global Inc. Consolidated
Revenue
$
667

 
$
1,513

 
$
3,607

 
$
(126
)
 
$
5,661

Expenses:
 
 
 
 
 
 
 
 
 
Operating-related expenses
114

 
451

 
1,334

 
(126
)
 
1,773

Selling and general expenses
128

 
243

 
1,096

 

 
1,467

Depreciation
38

 
9

 
38

 

 
85

Amortization of intangibles

 

 
96

 

 
96

Total expenses
280

 
703

 
2,564

 
(126
)
 
3,421

Gain on disposition
(1,072
)
 

 
(29
)
 

 
(1,101
)
Operating profit
1,459

 
810

 
1,072

 

 
3,341

Other income, net
(20
)
 

 
(8
)
 

 
(28
)
Interest expense (income), net
191

 

 
(10
)
 

 
181

Non-operating intercompany transactions
356

 
(83
)
 
(941
)
 
668

 

Income before taxes on income
932

 
893

 
2,031

 
(668
)
 
3,188

Provision for taxes on income
275

 
420

 
265

 

 
960

Equity in net income of subsidiaries
2,412

 
294

 

 
(2,706
)
 

Net income
3,069

 
767

 
1,766

 
(3,374
)
 
2,228

Less: net income attributable to noncontrolling interests

 

 

 
(122
)
 
(122
)
Net income attributable to S&P Global Inc.
$
3,069

 
$
767

 
$
1,766

 
$
(3,496
)
 
$
2,106

Comprehensive income
$
3,099

 
$
767

 
$
1,563

 
$
(3,374
)
 
$
2,055

Balance Sheet
 
Balance Sheet
 
December 31, 2018
(in millions)
S&P Global Inc.
 
Standard & Poor's Financial Services LLC
 
Non-Guarantor Subsidiaries
 
Eliminations
 
S&P Global Inc. Consolidated
ASSETS
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
694

 
$

 
$
1,223

 
$

 
$
1,917

Restricted cash

 

 
41

 

 
41

Accounts receivable, net of allowance for doubtful accounts
163

 
109

 
1,177

 

 
1,449

Intercompany receivable
550

 
2,138

 
2,873

 
(5,561
)
 

Prepaid and other current assets
58

 
3

 
136

 

 
197

Total current assets
1,465

 
2,250

 
5,450

 
(5,561
)
 
3,604

Property and equipment, net of accumulated depreciation
192

 

 
78

 

 
270

Goodwill
261

 

 
3,265

 
9

 
3,535

Other intangible assets, net

 

 
1,524

 

 
1,524

Investments in subsidiaries
8,599

 
6

 
8,030

 
(16,635
)
 

Intercompany loans receivable
130

 

 
1,643

 
(1,773
)
 

Other non-current assets
194

 
45

 
286

 

 
525

Total assets
$
10,841

 
$
2,301

 
$
20,276

 
$
(23,960
)
 
$
9,458

LIABILITIES AND EQUITY
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable
$
89

 
$
15

 
$
107

 
$

 
$
211

Intercompany payable
4,453

 
32

 
1,076

 
(5,561
)
 

Accrued compensation and contributions to retirement plans
125

 
33

 
196

 

 
354

Income taxes currently payable
1

 

 
71

 

 
72

Unearned revenue
240

 
235

 
1,166

 

 
1,641

Accrued legal settlements

 

 
1

 

 
1

Other current liabilities
180

 
16

 
154

 

 
350

Total current liabilities
5,088

 
331

 
2,771

 
(5,561
)
 
2,629

Long-term debt
3,662

 

 

 

 
3,662

Intercompany loans payable
114

 

 
1,659

 
(1,773
)
 

Pension and other postretirement benefits
162

 

 
67

 

 
229

Other non-current liabilities
166

 
75

 
393

 

 
634

Total liabilities
9,192

 
406

 
4,890

 
(7,334
)
 
7,154

Redeemable noncontrolling interest

 

 

 
1,620

 
1,620

Equity:
 
 
 
 
 
 
 
 
 
Common stock
294

 

 
2,279

 
(2,279
)
 
294

Additional paid-in capital
72

 
618

 
9,784

 
(9,641
)
 
833

Retained income
12,622

 
1,277

 
3,824

 
(6,439
)
 
11,284

Accumulated other comprehensive loss
(299
)
 

 
(489
)
 
46

 
(742
)
Less: common stock in treasury
(11,040
)
 

 
(13
)
 
12

 
(11,041
)
Total equity - controlling interests
1,649

 
1,895

 
15,385

 
(18,301
)
 
628

Total equity - noncontrolling interests

 

 
1

 
55

 
56

Total equity
1,649

 
1,895

 
15,386

 
(18,246
)
 
684

Total liabilities and equity
$
10,841

 
$
2,301

 
$
20,276

 
$
(23,960
)
 
$
9,458

 
Balance Sheet
 
December 31, 2017
(in millions)
S&P Global Inc.
 
Standard & Poor's Financial Services LLC
 
Non-Guarantor Subsidiaries
 
Eliminations
 
S&P Global Inc. Consolidated
ASSETS
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
632

 
$

 
$
2,145

 
$

 
$
2,777

Restricted cash

 

 
2

 

 
2

Accounts receivable, net of allowance for doubtful accounts
138

 
152

 
1,029

 

 
1,319

Intercompany receivable
768

 
1,784

 
2,527

 
(5,079
)
 

Prepaid and other current assets
143

 
(3
)
 
86

 

 
226

Total current assets
1,681

 
1,933

 
5,789

 
(5,079
)
 
4,324

Property and equipment, net of accumulated depreciation
158

 
10

 
107

 

 
275

Goodwill
261

 

 
2,719

 
9

 
2,989

Other intangible assets, net

 

 
1,388

 

 
1,388

Investments in subsidiaries
8,364

 
5

 
8,028

 
(16,397
)
 

Intercompany loans receivable
116

 

 
1,699

 
(1,815
)
 

Other non-current assets
215

 
61

 
174

 
(1
)
 
449

Total assets
$
10,795

 
$
2,009

 
$
19,904

 
$
(23,283
)
 
$
9,425

LIABILITIES AND EQUITY
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable
$
79

 
$
23

 
$
93

 
$

 
$
195

Intercompany payable
3,433

 
492

 
1,154

 
(5,079
)
 

Accrued compensation and contributions to retirement plans
145

 
86

 
241

 

 
472

Short-term debt
399

 

 

 

 
399

Income taxes currently payable
2

 

 
75

 

 
77

Unearned revenue
293

 
193

 
1,127

 

 
1,613

Accrued legal settlements

 
2

 
105

 

 
107

Other current liabilities
136

 
21

 
194

 

 
351

Total current liabilities
4,487

 
817

 
2,989

 
(5,079
)
 
3,214

Long-term debt
3,170

 

 

 

 
3,170

Intercompany loans payable
101

 

 
1,715

 
(1,816
)
 

Pension and other postretirement benefits
180

 

 
64

 

 
244

Other non-current liabilities
376

 
74

 
229

 

 
679

Total liabilities
8,314

 
891

 
4,997

 
(6,895
)
 
7,307

Redeemable noncontrolling interest

 

 

 
1,352

 
1,352

Equity:
 
 
 
 
 
 
 
 
 
Common stock
412

 

 
2,318

 
(2,318
)
 
412

Additional paid-in capital
(216
)
 
602

 
9,256

 
(9,117
)
 
525

Retained income
12,156

 
516

 
3,782

 
(6,431
)
 
10,023

Accumulated other comprehensive loss
(269
)
 

 
(426
)
 
46

 
(649
)
Less: common stock in treasury
(9,602
)
 

 
(23
)
 
23

 
(9,602
)
Total equity - controlling interests
2,481

 
1,118

 
14,907

 
(17,797
)
 
709

Total equity - noncontrolling interests

 

 

 
57

 
57

Total equity
2,481

 
1,118

 
14,907

 
(17,740
)
 
766

Total liabilities and equity
$
10,795

 
$
2,009

 
$
19,904

 
$
(23,283
)
 
$
9,425

Statement of Cash Flows
 
Statement of Cash Flows
 
Year Ended December 31, 2018
(in millions)
S&P Global Inc.
 
Standard & Poor's Financial Services LLC
 
Non-Guarantor Subsidiaries
 
Eliminations
 
S&P Global Inc. Consolidated
Operating Activities:
 
 
 
 
 
 
 
 
 
Net income
$
3,540

 
$
784

 
$
2,956

 
$
(5,159
)
 
$
2,121

Adjustments to reconcile net income to cash provided by operating activities:
 
 
 
 
 
 
 
 
 
     Depreciation
37

 
7

 
40

 

 
84

     Amortization of intangibles

 

 
122

 

 
122

     Provision for losses on accounts receivable
3

 
4

 
14

 

 
21

     Deferred income taxes
33

 
10

 
38

 

 
81

     Stock-based compensation
28

 
16

 
50

 

 
94

     Accrued legal settlements

 
1

 

 

 
1

     Other
46

 
5

 
1

 

 
52

Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
 
 
 
 
 
 
 
 
 
     Accounts receivable
(27
)
 
39

 
(176
)
 

 
(164
)
     Prepaid and other current assets
(2
)
 
(4
)
 
5

 

 
(1
)
     Accounts payable and accrued expenses
(11
)
 
(64
)
 
(31
)
 

 
(106
)
     Unearned revenue
(53
)
 
13

 
110

 

 
70

     Accrued legal settlements

 

 
(108
)
 

 
(108
)
     Other current liabilities
(22
)
 
(11
)
 
(34
)
 

 
(67
)
     Net change in prepaid/accrued income taxes
2

 

 
(9
)
 

 
(7
)
     Net change in other assets and liabilities
(128
)
 
32

 
(33
)
 

 
(129
)
Cash provided by operating activities
3,446

 
832

 
2,945

 
(5,159
)
 
2,064

Investing Activities:
 
 
 
 
 
 
 
 
 
     Capital expenditures
(81
)
 
(16
)
 
(16
)
 

 
(113
)
     Acquisitions, net of cash acquired

 

 
(401
)
 

 
(401
)
     Proceeds from dispositions

 

 
6

 

 
6

     Changes in short-term investments

 

 
(5
)
 

 
(5
)
Cash used for investing activities
(81
)
 
(16
)
 
(416
)
 

 
(513
)
Financing Activities:
 
 
 
 
 
 
 
 
 
     Proceeds from issuance of senior notes, net
489

 

 

 

 
489

     Payments on senior notes
(403
)
 

 

 

 
(403
)
     Dividends paid to shareholders
(503
)
 

 

 

 
(503
)
     Distributions to noncontrolling interest holders

 

 
(154
)
 

 
(154
)
     Repurchase of treasury shares
(1,660
)
 

 

 

 
(1,660
)
     Exercise of stock options
26

 

 
8

 

 
34

     Purchase of additional CRISIL shares

 

 
(25
)
 

 
(25
)
     Employee withholding tax on share-based payments
(66
)
 

 

 

 
(66
)
     Intercompany financing activities
(1,181
)
 
(816
)
 
(3,162
)
 
5,159

 

Cash used for financing activities
(3,298
)
 
(816
)
 
(3,333
)
 
5,159

 
(2,288
)
Effect of exchange rate changes on cash
(5
)
 

 
(79
)
 

 
(84
)
Net change in cash, cash equivalents, and restricted cash
62

 

 
(883
)
 

 
(821
)
Cash, cash equivalents, and restricted cash at beginning of year
632

 

 
2,147

 

 
2,779

Cash, cash equivalents, and restricted cash at end of year
$
694

 
$

 
$
1,264

 
$

 
$
1,958


 
Statement of Cash Flows
 
Year Ended December 31, 2017
(in millions)
S&P Global Inc.
 
Standard & Poor's Financial Services LLC
 
Non-Guarantor Subsidiaries
 
Eliminations
 
S&P Global Inc. Consolidated
Operating Activities:
 
 
 
 
 
 
 
 
 
Net income
$
3,670

 
$
649

 
$
3,302

 
$
(5,983
)
 
$
1,638

Adjustments to reconcile net income to cash provided by operating activities:
 
 
 
 
 
 
 
 
 
     Depreciation
31

 
11

 
40

 

 
82

     Amortization of intangibles

 

 
98

 

 
98

     Provision for losses on accounts receivable
2

 
3

 
11

 

 
16

     Deferred income taxes
108

 
(10
)
 
(98
)
 

 

     Stock-based compensation
35

 
22

 
42

 

 
99

     Accrued legal settlements

 

 
55

 

 
55

     Other
34

 
19

 
43

 

 
96

Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
 
 
 
 
 
 
 
 
 
     Accounts receivable
(2
)
 
(23
)
 
(171
)
 

 
(196
)
     Prepaid and other current assets
(5
)
 
3

 
12

 

 
10

     Accounts payable and accrued expenses
22

 
97

 
(44
)
 

 
75

     Unearned revenue
19

 
2

 
64

 

 
85

     Accrued legal settlements

 
(1
)
 
(3
)
 

 
(4
)
     Other current liabilities
(42
)
 
(12
)
 
(31
)
 

 
(85
)
     Net change in prepaid/accrued income taxes
41

 
(18
)
 
9

 

 
32

     Net change in other assets and liabilities
7

 
(6
)
 
14

 

 
15

Cash provided by operating activities
3,920

 
736

 
3,343

 
(5,983
)
 
2,016

Investing Activities:
 
 
 
 
 
 
 
 
 
     Capital expenditures
(55
)
 
(32
)
 
(36
)
 

 
(123
)
     Acquisitions, net of cash acquired

 

 
(83
)
 

 
(83
)
     Proceeds from dispositions

 

 
2

 

 
2

     Changes in short-term investments

 

 
(5
)
 

 
(5
)
Cash used for investing activities
(55
)
 
(32
)
 
(122
)
 

 
(209
)
Financing Activities:
 
 
 
 
 
 
 
 
 
    Dividends paid to shareholders
(421
)
 

 

 

 
(421
)
Distributions to noncontrolling interest holders

 

 
(111
)
 

 
(111
)
     Repurchase of treasury shares
(1,001
)
 

 

 

 
(1,001
)
     Exercise of stock options
68

 

 
7

 

 
75

     Employee withholding tax on share-based payments
(49
)
 

 

 

 
(49
)
     Intercompany financing activities
(2,546
)
 
(704
)
 
(2,733
)
 
5,983

 

Cash used for financing activities
(3,949
)
 
(704
)
 
(2,837
)
 
5,983

 
(1,507
)
Effect of exchange rate changes on cash
5

 

 
82

 

 
87

Net change in cash, cash equivalents, and restricted cash
(79
)
 

 
466

 

 
387

Cash, cash equivalents, and restricted cash at beginning of year
711

 

 
1,681

 

 
2,392

Cash, cash equivalents, and restricted cash at end of year
$
632

 
$

 
$
2,147

 
$

 
$
2,779

 
Statement of Cash Flows
 
Year Ended December 31, 2016
(in millions)
S&P Global Inc.
 
Standard & Poor's Financial Services LLC
 
Non-Guarantor Subsidiaries
 
Eliminations
 
S&P Global Inc. Consolidated
Operating Activities:
 
 
 
 
 
 
 
 
 
Net income
$
3,069

 
$
767

 
$
1,766

 
$
(3,374
)
 
$
2,228

Adjustments to reconcile net income to cash provided by operating activities
 
 
 
 
 
 
 
 
 
     Depreciation
38

 
9

 
38

 

 
85

     Amortization of intangibles

 

 
96

 

 
96

     Provision for losses on accounts receivable
1

 

 
8

 

 
9

     Deferred income taxes
16

 
(9
)
 
72

 

 
79

     Stock-based compensation
22

 
17

 
37

 

 
76

     Gain on disposition
(1,072
)
 

 
(29
)
 

 
(1,101
)
     Accrued legal settlements
3

 
1

 
50

 

 
54

     Other
48

 
5

 
(23
)
 

 
30

Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
 
 
 
 
 
 
 
 
 
     Accounts receivable
(24
)
 
187

 
(340
)
 

 
(177
)
     Prepaid and other current assets
(2
)
 
10

 
(3
)
 

 
5

     Accounts payable and accrued expenses
(8
)
 
(39
)
 
66

 

 
19

     Unearned revenue
19

 
(395
)
 
483

 

 
107

     Accrued legal settlements

 
(108
)
 
(42
)
 

 
(150
)
     Other current liabilities
(27
)
 
(27
)
 
35

 

 
(19
)
     Net change in prepaid/accrued income taxes
141

 

 
33

 

 
174

     Net change in other assets and liabilities
(9
)
 
38

 
16

 

 
45

Cash provided by operating activities
2,215

 
456

 
2,263

 
(3,374
)
 
1,560

Investing Activities:
 
 
 
 
 
 
 
 
 
     Capital expenditures
(68
)
 
(15
)
 
(32
)
 

 
(115
)
     Acquisitions, net of cash acquired
(144
)
 

 
(33
)
 

 
(177
)
     Contingent consideration payment

 

 
(34
)
 

 
(34
)
     Proceeds from dispositions
1,422

 

 
76

 

 
1,498

     Changes in short-term investments

 

 
(1
)
 

 
(1
)
Cash provided by (used for) investing activities
1,210

 
(15
)
 
(24
)
 

 
1,171

Financing Activities:
 
 
 
 
 
 
 
 
 
     Additions to short-term debt
(143
)
 

 

 

 
(143
)
     Proceeds from issuance of senior notes, net
493

 

 

 

 
493

     Payments on senior notes
(421
)
 

 

 

 
(421
)
     Dividends paid to shareholders
(380
)
 

 

 

 
(380
)
 Distributions to noncontrolling interest holders

 

 
(116
)
 

 
(116
)
     Repurchase of treasury shares
(1,123
)
 

 

 

 
(1,123
)
     Exercise of stock options
86

 

 
2

 

 
88

     Contingent consideration payment
(5
)
 

 

 

 
(5
)
     Employee withholding tax on share-based payments
(55
)
 

 

 

 
(55
)
     Intercompany financing activities
(1,333
)
 
(441
)
 
(1,600
)
 
3,374

 

Cash used for financing activities
(2,881
)
 
(441
)
 
(1,714
)
 
3,374

 
(1,662
)
Effect of exchange rate changes on cash

 

 
(158
)
 

 
(158
)
Net change in cash, cash equivalents, and restricted cash
544

 

 
367

 

 
911

Cash, cash equivalents, and restricted cash at beginning of year
167

 

 
1,314

 

 
1,481

Cash, cash equivalents, and restricted cash at end of year
$
711

 
$

 
$
1,681

 
$

 
$
2,392