S&P GLOBAL INC., 10-Q filed on 4/28/2026
Quarterly Report
v3.26.1
Cover Page - shares
shares in Millions
 3 Months Ended
Mar. 31, 2026
Apr. 24, 2026
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2026  
Document Transition Report false  
Entity File Number 1-1023  
Entity Registrant Name S&P Global Inc.  
Entity Incorporation, State or Country Code NY  
Entity Tax Identification Number 13-1026995  
Entity Address, Address Line One 55 Water Street  
Entity Address, City or Town New York  
Entity Address, State or Province NY  
Entity Address, Postal Zip Code 10041  
City Area Code 212  
Local Phone Number 438-1000  
Title of 12(b) Security Common stock (par value $1.00 per share)  
Trading Symbol SPGI  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   296.0
Entity Central Index Key 0000064040  
Amendment Flag false  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q1  
Current Fiscal Year End Date --12-31  
v3.26.1
Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Income Statement [Abstract]    
Revenue $ 4,171 $ 3,777
Expenses:    
Operating-related expenses 1,235 1,153
Selling and general expenses 802 764
Depreciation 31 25
Amortization of intangibles 276 268
Total expenses 2,344 2,210
Gain on dispositions (175) 0
Equity in income on unconsolidated subsidiaries 0 (11)
Operating profit 2,002 1,578
Other (income) expense, net (2) 4
Interest expense, net 96 78
Income before taxes on income 1,908 1,496
Provision for taxes on income 404 325
Net income 1,504 1,171
Less: net income attributable to noncontrolling interests (109) (81)
Net income attributable to S&P Global Inc. $ 1,395 $ 1,090
Net income:    
Basic (USD per share) $ 4.69 $ 3.55
Diluted (USD per share) $ 4.69 $ 3.54
Weighted-average number of common shares outstanding:    
Basic (shares) 297.3 307.3
Diluted (shares) 297.6 307.7
Actual shares outstanding at period end (shares) 296.0 306.7
v3.26.1
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Statement of Comprehensive Income [Abstract]    
Net income $ 1,504 $ 1,171
Other comprehensive income:    
Foreign currency translation adjustments (14) 33
Income tax effect (18) 19
Foreign currency translation adjustment, net of income tax effect (32) 52
Pension and other postretirement benefit plans 2 1
Income tax effect 0 0
Pension and other postretirement benefit plans, net of income tax effect 2 1
Unrealized (loss) gain on cash flow hedges (9) 5
Income tax effect 0 (1)
Unrealized gain on cash flow hedges, net of income tax effect (9) 4
Comprehensive income 1,465 1,228
Less: comprehensive income attributable to nonredeemable noncontrolling interests (9) (4)
Less: comprehensive income attributable to redeemable noncontrolling interests (100) (77)
Comprehensive income attributable to S&P Global Inc. $ 1,356 $ 1,147
v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 1,810 $ 1,745
Restricted cash 0 0
Accounts receivable, net of allowance for doubtful accounts: 2026 - $53; 2025 - $50 3,493 3,441
Prepaid and other current assets 889 914
Assets held for sale 128 196
Total current assets 6,320 6,296
Property and equipment, net of accumulated depreciation: 2026 - $871; 2025 - $861 261 278
Right of use assets 388 413
Goodwill 36,357 36,475
Other intangible assets, net 15,977 16,271
Equity investments in unconsolidated subsidiaries 605 603
Other non-current assets 884 864
Total assets 60,792 61,200
Current liabilities:    
Accounts payable 510 610
Accrued compensation and contributions to retirement plans 439 988
Short-term debt 2,697 718
Income taxes currently payable 482 180
Unearned revenue 3,980 4,088
Other current liabilities 1,200 1,010
Liabilities held for sale 27 43
Total current liabilities 9,335 7,637
Long-term debt 10,621 12,370
Lease liabilities — non-current 458 494
Pension and other postretirement benefits 176 178
Deferred tax liability — non-current 3,226 3,262
Other non-current liabilities 771 1,107
Total liabilities 24,587 25,048
Redeemable noncontrolling interests (Note 8) 4,917 4,917
Commitments and contingencies (Note 12)
Equity:    
Common stock, $1 par value: authorized - 600 million shares; issued - 2026 and 2025 415 million shares 415 415
Additional paid-in capital 44,507 44,117
Retained income 24,804 23,666
Accumulated other comprehensive loss (736) (697)
Less: common stock in treasury (37,817) (36,374)
Total equity — controlling interests 31,173 31,127
Total equity — noncontrolling interests 115 108
Total equity 31,288 31,235
Total liabilities and equity $ 60,792 $ 61,200
v3.26.1
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Statement of Financial Position [Abstract]    
Allowance for doubtful accounts $ 53 $ 50
Accumulated depreciation $ 871 $ 861
Common stock, par value (USD per share) $ 1 $ 1
Common stock authorized (shares) 600,000,000 600,000,000
Common stock issued (shares) 415,000,000 415,000,000
v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating Activities:    
Net income $ 1,504 $ 1,171
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation 31 25
Amortization of intangibles 276 268
Provision for losses on accounts receivable 15 8
Deferred income taxes (50) (63)
Stock-based compensation 39 47
Gain on dispositions (175) 0
Other 6 61
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:    
Accounts receivable (131) (222)
Prepaid and other current assets 1 12
Accounts payable and accrued expenses (646) (678)
Unearned revenue (76) 181
Other current liabilities (29) (58)
Net change in prepaid/accrued income taxes 314 225
Net change in other assets and liabilities (42) (24)
Cash provided by operating activities 1,037 953
Investing Activities:    
Capital expenditures (27) (43)
Acquisitions, net of cash acquired (12) (13)
Proceeds from dispositions, net 345 0
Changes in short-term investments (15) (23)
Cash provided by (used for) investing activities 291 (79)
Financing Activities:    
Additions to short-term debt, net 236 0
Payments on senior notes (3) (4)
Dividends paid to shareholders (288) (295)
Distributions to noncontrolling interest holders (91) (94)
Repurchase of treasury shares (1,000) (650)
Employee withholding tax on share-based payments, contingent consideration payments and other (91) (60)
Cash used for financing activities (1,237) (1,103)
Effect of exchange rate changes on cash (26) 32
Net change in cash, cash equivalents, and restricted cash 65 (197)
Cash, cash equivalents, and restricted cash at beginning of period 1,745 1,666
Cash, cash equivalents, and restricted cash at end of period $ 1,810 $ 1,469
v3.26.1
Consolidated Statements of Equity - USD ($)
$ in Millions
Total
Total SPGI Equity
Common Stock $1 par
Additional Paid-in Capital
Retained Income
Accumulated Other Comprehensive Loss
Less: Treasury Stock
Noncontrolling Interests
Beginning balance at Dec. 31, 2024 $ 33,256 $ 33,159 $ 415 $ 44,321 $ 20,977 $ (883) $ (31,671) $ 97
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Comprehensive income [1] 1,151 1,147     1,090 57   4
Dividends (Dividend declared per common share) (295) (295)     (295)      
Share repurchases, including excise tax (657) (657)   65     722  
Employee stock plans (10) (10)   (27)     (17)  
Change in redemption value of redeemable noncontrolling interests 27 27     27      
Other 1             1
Ending balance at Mar. 31, 2025 33,473 33,371 415 44,359 21,799 (826) (32,376) 102
Beginning balance at Dec. 31, 2025 31,235 31,127 415 44,117 23,666 (697) (36,374) 108
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Comprehensive income [1] 1,365 1,356     1,395 (39)   9
Dividends (Dividend declared per common share) (288) (288)     (288)      
Share repurchases, including excise tax (1,012) (1,012)   500     1,512  
Employee stock plans (41) (41)   (110)     (69)  
Change in redemption value of redeemable noncontrolling interests 31 31     31      
Other (2)             (2)
Ending balance at Mar. 31, 2026 $ 31,288 $ 31,173 $ 415 $ 44,507 $ 24,804 $ (736) $ (37,817) $ 115
[1]
1Excludes comprehensive income of $100 million and $77 million for the three months ended March 31, 2026 and 2025, respectively, attributable to our redeemable noncontrolling interests.
v3.26.1
Consolidated Statements of Equity (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Statement of Stockholders' Equity [Abstract]        
Common stock, par value (USD per share) $ 1 $ 1 $ 1 $ 1
Dividends declared per common share (USD per share) $ 0.97 $ 0.96    
Comprehensive income attributable to redeemable noncontrolling interests $ 100 $ 77    
v3.26.1
Nature of Operations and Basis of Presentation
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Nature of Operations and Basis of Presentation Nature of Operations and Basis of Presentation
S&P Global Inc. (together with its consolidated subsidiaries, “S&P Global,” the “Company,” “we,” “us” or “our”) is a global, diversified, and highly differentiated provider of benchmarks, data, analytics and workflow solutions in the global capital, energy and commodity, and automotive markets.

Our operations consist of five reportable segments: S&P Global Market Intelligence (“Market Intelligence”), S&P Global Ratings (“Ratings”), S&P Global Energy (“Energy”), S&P Global Mobility (“Mobility”) and S&P Dow Jones Indices (“Indices”).
•Market Intelligence is a global provider of multi-asset-class data and analytics integrated with purpose-built workflow solutions.
•Ratings is an independent provider of credit ratings, research, and analytics.
•Energy is a leading independent provider of information and benchmark prices for the energy and commodity markets.
•Mobility is a leading provider of solutions serving the full automotive value chain including vehicle manufacturers (Original Equipment Manufacturers or OEMs), automotive suppliers, mobility service providers, retailers, consumers, and finance and insurance companies.
•Indices is a global index provider maintaining a wide variety of valuation and index benchmarks for investment advisors, wealth managers and institutional investors.
On April 29, 2025, we announced that our Board of Directors decided to pursue a full separation of our Mobility segment, creating a new publicly traded company. The name of the new publicly traded company, Mobility Global Inc., will be effective on day one of the separation. The transaction, which would be implemented through the spin-off of shares of the new company to S&P Global shareholders, is expected to be tax-free for U.S. federal income tax purposes for S&P Global shareholders and is expected to be completed mid-2026, subject to the satisfaction of customary legal and regulatory requirements and approvals.
The accompanying unaudited financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. Therefore, the financial statements included herein should be read in conjunction with the financial statements and notes included in our Form 10-K for the year ended December 31, 2025 (our “Form 10-K”).

In the opinion of management, all normal recurring adjustments considered necessary for a fair statement of the results of the interim periods have been included. The operating results for the three months ended March 31, 2026 are not necessarily indicative of the results that may be expected for the full year.

On an ongoing basis, we evaluate our estimates and assumptions, including those related to revenue recognition, business combinations, allowance for doubtful accounts, valuation of long-lived assets, goodwill and other intangible assets, pension plans, incentive compensation and stock-based compensation, income taxes, contingencies and redeemable noncontrolling interests. Since the date of our Form 10-K, there have been no material changes to our critical accounting policies and estimates.

Restricted Cash

We had no restricted cash included in our consolidated balance sheets as of March 31, 2026 and December 31, 2025.

Contract Assets

Contract assets include unbilled amounts from when the Company transfers service to a customer before a customer pays consideration or before payment is due. As of March 31, 2026 and December 31, 2025, contract assets were $107 million and $89 million, respectively, and are included in accounts receivable in our consolidated balance sheets.
Unearned Revenue

We record unearned revenue when cash payments are received in advance of our performance. The decrease in the unearned revenue balance at March 31, 2026 compared to December 31, 2025 is primarily driven by $1.8 billion of revenues recognized that were included in the unearned revenue balance at the beginning of the period, offset by cash payments received in advance of satisfying our performance obligations.

Remaining Performance Obligations

Remaining performance obligations represent the transaction price of contracts for work that has not yet been performed. As of March 31, 2026, the aggregate amount of the transaction price allocated to remaining performance obligations was $5.7 billion. We expect to recognize revenue on approximately half and three-quarters of the remaining performance obligations over the next 12 and 24 months, respectively, with the remainder recognized thereafter.

We do not disclose the value of unfulfilled performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts where revenue is a usage-based royalty promised in exchange for a license of intellectual property.

Costs to Obtain Contracts

We recognize an asset for the incremental costs of obtaining a contract with a customer if we expect the benefit of those costs to be longer than one year. We have determined that the costs associated with certain sales commission programs are incremental to the costs to obtain contracts with customers and therefore meet the criteria to be capitalized. Total capitalized costs to obtain contracts were $349 million as of March 31, 2026 and December 31, 2025, and are included in prepaid and other current assets and other non-current assets on our consolidated balance sheets. The capitalized asset will be amortized over a period consistent with the transfer to the customer of the goods or services to which the asset relates, calculated based on the customer term and the average life of the products and services underlying the contracts which has been determined to be approximately 2 to 5 years. The expense is recorded within selling and general expenses in the consolidated statements of income.

We expense sales commissions when incurred if the benefit of those costs is one year or less. These costs are recorded within selling and general expenses in the consolidated statements of income.

Equity in Income on Unconsolidated Subsidiaries

On October 10, 2025, the Company and CME Group completed the sale of OSTTRA, an investment in a 50/50 joint venture arrangement with shared control with CME Group that combined each company’s post-trade services into a joint venture.

Other (Income) Expense, net

The components of other (income) expense, net for the three months ended March 31 are as follows:
(in millions)20262025
Other components of net periodic benefit cost$(4)$(6)
Net loss from investments2 10 
Other (income) expense, net$(2)$4 
v3.26.1
Acquisitions and Divestitures
 3 Months Ended
Mar. 31, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisitions and Divestitures Acquisitions and Divestitures
On April 24, 2026, we entered into a definitive agreement to sell Energy’s geoscience and petroleum engineering software portfolio to SLB, a global technology company driving energy innovation across more than 100 countries. This portfolio of subsurface and engineering software, widely used by U.S. onshore and unconventional operators, includes Kingdom Software, Petra, Harmony Enterprise, Analytics Explorer, SubPUMP, Power Tools, FieldDIRECT, Piper, WellTest, and The Element Platform, together with associated business services. The assets and liabilities of Energy's geoscience and petroleum engineering software portfolio were classified as held for sale in our consolidated balance sheet as of March 31, 2026. This transaction is expected to close in the second half of 2026 or early 2027. The anticipated divestiture of Energy's geoscience and petroleum engineering software portfolio is not expected to have a material impact to our consolidated financial statements.
Acquisitions

On March 18, 2026, we completed the acquisition of Enertel AI Corporation, a company specializing in AI and machine learning-driven short-term power price forecasting for North American electricity markets. The acquisition is part of our Energy segment. With the addition of Enertel AI Corporation, Energy now delivers real-time, AI-powered nodal price forecasts and decision tools that physical power traders, utilities and asset operators rely on to navigate the rapidly evolving grid. The acquisition of Enertel AI Corporation is not material to our consolidated financial statements.

During the three months ended March 31, 2025, we did not complete any material acquisitions.

Divestitures

During the three months ended March 31, 2026, we recorded a pre-tax gain of $175 million related to the following dispositions:

•On January 12, 2026, we completed the sale of the Enterprise Data Management and thinkFolio businesses within our Market Intelligence segment to Symphony Technology Group (“STG”), a private equity firm focused on building and scaling market-leading software, data and analytics companies. During the three months ended March 31, 2026, we recorded a pre-tax gain of $172 million ($168 million after-tax) in Gain on dispositions in the consolidated statement of income related to the sale of the Enterprise Data Management and thinkFolio businesses within our Market Intelligence segment.

•In March of 2026, we recorded a pre-tax gain of $3 million ($3 million after-tax) in Gain on dispositions in the consolidated statement of income related to the sale of OSTTRA in October of 2025.

During the three months ended March 31, 2025, we did not complete any material dispositions.

Assets and Liabilities Held for Sale

The components of assets and liabilities held for sale in the consolidated balance sheets consist of the following:

(in millions)March 31,December 31,
2026 1
2025 1
Accounts receivable, net $51 $34 
Property and equipment, net8 8 
Goodwill69 141 
Other non-current assets— 13 
Assets held for sale$128 $196 
Accounts payable$2 $9 
Unearned revenue25 34 
Liabilities held for sale$27 $43 
1 Assets and liabilities held for sale relate to the anticipated divestiture of Energy’s geoscience and petroleum engineering software portfolio and the divestitures of the Enterprise Data Management and thinkFolio businesses within our Market Intelligence segment as of March 31, 2026 and December 31, 2025, respectively. Additionally, assets held for sale include fixed assets related to our intent to sell our facility in Centennial, Colorado as of March 31, 2026 and December 31, 2025.
v3.26.1
Income Taxes
 3 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The effective income tax rate was 21.2% and 21.7% for the three months ended March 31, 2026 and March 31, 2025, respectively. The lower rate for the three months ended March 31, 2026 was primarily due to a combination of discrete adjustments including lower tax on non-US divestitures due to local exemption.

At the end of each interim period, we estimate the annual effective tax rate and apply that rate to our ordinary quarterly earnings. The tax expense or benefit related to significant unusual or infrequently occurring items that will be separately
reported or reported net of their related tax effect, and are individually computed, is recognized in the interim period in which those items occur. In addition, the effect of changes in enacted tax laws or rates or tax status is recognized in the interim period in which the change occurs.

The Company is subject to tax examinations in various jurisdictions. As of March 31, 2026 and December 31, 2025, the total amount of federal, state and local, and foreign unrecognized tax benefits was $320 million and $322 million, respectively, exclusive of interest and penalties. We recognize accrued interest and penalties related to unrecognized tax benefits in interest expense and operating-related expense, respectively. As of March 31, 2026 and December 31, 2025, we had $86 million and $79 million, respectively, of accrued interest and penalties associated with unrecognized tax benefits.

The Organization for Economic Co-operation and Development (“OECD”) introduced an international tax framework under Pillar Two that provides for a global minimum tax of 15%, which is implemented through local legislation in participating jurisdictions. The effects of Pillar Two taxes enacted in jurisdictions in which we operate have been reflected in our results and did not have a material impact on our consolidated financial statements.

On January 5, 2026, the OECD issued administrative guidance outlining a framework under which U.S.-parented groups may be excluded from the application of the OECD’s global minimum tax rules. Each member jurisdiction will need to adopt this guidance into local law, and the timing and manner of adoption may vary. We are continuing to monitor developments related to this guidance and will evaluate the impact on our financial statements as additional information becomes available.
v3.26.1
Debt
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Debt Debt 
A summary of short-term and long-term debt outstanding is as follows:
(in millions)March 31,
2026		December 31,
2025
4.0% Senior Notes, due 2026 1
— 3 
2.95% Senior Notes, due 2027 2
499 499 
2.45% Senior Notes, due 2027 3
1,247 1,246 
4.75% Senior Notes, due 2028 4
781 784 
4.25% Senior Notes, due 2029 5
988 991 
2.5% Senior Notes, due 2029 6
498 498 
2.95% Sustainability-Linked Senior Notes, due 2029 7
1,241 1,241 
1.25% Senior Notes, due 2030 8
596 596 
4.25% Senior Notes, due 2031 9
596 595 
2.90% Senior Notes, due 2032 10
1,480 1,480 
5.25% Senior Notes, due 2033 11
744 744 
4.80% Senior Notes, due 2035 12
396 396 
6.55% Senior Notes, due 2037 13
291 291 
4.5% Senior Notes, due 2048 14
273 273 
3.25% Senior Notes, due 2049 15
591 591 
3.70% Senior Notes, due 2052 16
976 976 
2.3% Senior Notes, due 2060 17
683 683 
3.9% Senior Notes, due 2062 18
487 486 
Commercial paper951 715 
Total debt13,318 13,088 
Less: short-term debt including current maturities2,697 718 
Long-term debt$10,621 $12,370 
1     We made a $3 million repayment of our 4.0% Senior Notes in the first quarter of 2026.
2    Interest payments are due semiannually on January 22 and July 22, and as of March 31, 2026, the unamortized debt discount and issuance costs total $1 million.
3    Interest payments are due semiannually on March 1 and September 1 and as of March 31, 2026, the unamortized debt discount and issuance costs total $3 million.
4     Interest payments are due semiannually on February 1 and August 1.
5 Interest payments are due semiannually on May 1 and November 1.
6    Interest payments are due semiannually on June 1 and December 1, and as of March 31, 2026, the unamortized debt discount and issuance costs total $2 million.
7    Interest payments are due semiannually on March 1 and September 1 and as of March 31, 2026, the unamortized debt discount and issuance costs total $9 million. From and including March 1, 2026, the interest rate payable on Sustainability-Linked Senior Notes due 2029 was increased by 25 basis points (0.25%) per annum, in accordance with the terms of the governing indenture.
8    Interest payments are due semiannually on February 15 and August 15, and as of March 31, 2026, the unamortized debt discount and issuance costs total $4 million.
9    Interest payments are due semiannually on January 15 and July 15, beginning on July 15, 2026, and as of March 31, 2026, the unamortized debt discount and issuance costs total $4 million.
10 Interest payments are due semiannually on March 1 and September 1 and as of March 31, 2026, the unamortized debt discount and issuance costs total $20 million.
11 Interest payments are due semiannually on March 15 and September 15, and as of March 31, 2026, the unamortized debt discount and issuance costs total $6 million.
12    Interest payments are due semiannually on June 4 and December 4, beginning on June 4, 2026, and as of March 31, 2026, the unamortized debt discount and issuance costs total $4 million.
13    Interest payments are due semiannually on May 15 and November 15, and as of March 31, 2026, the unamortized debt discount and issuance costs total $2 million.
14    Interest payments are due semiannually on May 15 and November 15, and as of March 31, 2026, the unamortized debt discount and issuance costs total $10 million.
15 Interest payments are due semiannually on June 1 and December 1, and as of March 31, 2026, the unamortized debt discount and issuance costs total $9 million.
16    Interest payments are due semiannually on March 1 and September 1 and as of March 31, 2026, the unamortized debt discount and issuance costs total $24 million.
17    Interest payments are due semiannually on February 15 and August 15, and as of March 31, 2026, the unamortized debt discount and issuance costs total $17 million.
18    Interest payments are due semiannually on March 1 and September 1 and as of March 31, 2026, the unamortized debt discount and issuance costs total $13 million.
The fair value of our total debt borrowings was $11.1 billion and $11.3 billion as of March 31, 2026 and December 31, 2025, respectively, and was estimated based on quoted market prices.

We have the ability to borrow a total of $2.0 billion through our commercial paper program, which is supported by our $2.0 billion five-year credit agreement (our “credit facility”) that will terminate on December 17, 2029. As of March 31, 2026, and December 31, 2025, we had $951 million and $715 million of outstanding commercial paper, respectively.

Commitment fees for the unutilized commitments under the credit facility and applicable margins for borrowings thereunder are linked to the Company achieving three environmental sustainability performance indicators related to emissions, tested annually. For the three months ended March 31, 2026, we paid a commitment fee of 8 basis points. Our commitment fee and our drawn margin under the credit facility will be reduced by 1 basis point and 5 basis points, respectively, for the approximately year-long period beginning April 6, 2026 as a result of our emissions performance for the year ended December 31, 2025. The credit facility contains customary affirmative and negative covenants and customary events of default. The occurrence of an event of default could result in an acceleration of the obligations under the credit facility.

The only financial covenant in our credit facility is a requirement that our indebtedness to cash flow ratio, as defined in our credit facility, is not greater than 4 to 1, and this ratio has never been exceeded.
v3.26.1
Derivative Instruments
 3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments Derivative Instruments
Our exposure to market risk includes changes in foreign exchange rates and interest rates. We have operations in foreign countries where the functional currency is primarily the local currency. For international operations that are determined to be extensions of the parent company, the U.S. dollar is the functional currency. We typically have naturally hedged positions in most countries from a local currency perspective with offsetting assets and liabilities. As of March 31, 2026 and December 31, 2025, we have entered into foreign exchange forward contracts to mitigate or hedge the effect of adverse fluctuations in foreign exchange rates. As of March 31, 2026 and December 31, 2025, we held cross currency swap contracts to hedge a portion of our net investment in foreign subsidiaries against volatility in foreign exchange rates. These contracts are recorded at fair value that is based on foreign currency exchange rates and interest rates in active markets; therefore, we classify these derivative contracts within Level 2 of the fair value hierarchy. We do not enter into any derivative financial instruments for speculative purposes.

Undesignated Derivative Instruments

During the three months ended March 31, 2026 and twelve months ended December 31, 2025, we entered into foreign exchange forward contracts in order to mitigate the change in fair value of specific assets and liabilities in the consolidated balance sheets. These forward contracts do not qualify for hedge accounting. As of March 31, 2026 and December 31, 2025, the aggregate notional value of these outstanding forward contracts was $1.5 billion. The changes in fair value of these forward contracts are recorded in prepaid and other assets or other current liabilities in the consolidated balance sheets with their corresponding change in fair value recognized in selling and general expenses in the consolidated statements of income. The amount recorded in prepaid and other current assets was $3 million and $8 million as of March 31, 2026 and December 31, 2025, respectively. The amount recorded in other current liabilities was $15 million and $6 million as of March 31, 2026 and December 31, 2025, respectively. The amount recorded in selling and general expense related to these contracts was a net loss of $20 million for the three months ended March 31, 2026, and a net gain of $49 million for the three months ended March 31, 2025, respectively.

Net Investment Hedges

As of March 31, 2026 and December 31, 2025, we held cross currency swaps to hedge a portion of our net investment in certain European subsidiaries against volatility in the Euro/U.S. dollar exchange rate. These swaps are designated and qualify as a hedge of a net investment in a foreign subsidiary and are scheduled to mature in 2029, 2030, 2032 and 2033. The notional value of our outstanding cross currency swaps designated as a net investment hedge was $3.5 billion as of March 31, 2026 and December 31, 2025. The changes in the fair value of these swaps are recognized in foreign currency translation adjustments, a component of other comprehensive income (loss), and reported in accumulated other comprehensive loss in our consolidated balance sheet. The gain or loss will be subsequently reclassified into net earnings when the hedged net investment is either sold, liquidated or substantially liquidated. We have elected to assess the effectiveness of our net investment hedges based on changes in spot exchange rates. Accordingly, amounts related to the cross currency swaps recognized directly in net income represent net periodic interest settlements and accruals, which are recognized in interest expense, net. We recognized net interest income of $10 million and $14 million for the three months ended March 31, 2026 and 2025, respectively.

Cash Flow Hedges

Foreign Exchange Forward Contracts

During the three months ended March 31, 2026 and the twelve months ended December 31, 2025, we entered into a series of foreign exchange forward contracts to hedge a portion of the Indian rupee, British pound, and Euro exposures through the first quarter of 2028 and the fourth quarter of 2027, respectively. These contracts are intended to offset the impact of movement of exchange rates on future revenue and operating costs and are scheduled to mature within twenty-four months. The changes in the fair value of these contracts are initially reported in accumulated other comprehensive loss in our consolidated balance sheet and are subsequently reclassified into revenue and selling and general expenses in the same period that the hedged transaction affects earnings.

As of March 31, 2026, we estimate that $15 million of pre-tax loss related to foreign exchange forward contracts designated as cash flow hedges recorded in other comprehensive income is expected to be reclassified into earnings within the next twelve months.

As of March 31, 2026 and December 31, 2025, the aggregate notional value of our outstanding foreign exchange forward contracts designated as cash flow hedges was $540 million and $574 million, respectively.
Interest Rate Swaps
During the three months ended March 31, 2024, we terminated our interest rate swap contracts with an aggregate notional value of $813 million and received net proceeds of $155 million upon termination. These contracts were designated as cash flow hedges and were scheduled to mature beginning in the first quarter of 2027. We performed a final effectiveness test upon the termination of each swap, and the effective portion of the gain of $155 million was recorded in accumulated other comprehensive loss in our consolidated balance sheet. A portion of the gain is being recognized into interest expense, net over the term related to the issuance of our senior notes in December of 2025 which are scheduled to mature in 2031 and 2035. We recognized interest income of $2 million for the three months ended March 31, 2026.

The following table provides information on the location and fair value amounts of our cash flow hedges and net investment hedges as of March 31, 2026 and December 31, 2025:

(in millions)March 31, December 31,
Balance Sheet Location20262025
Derivatives designated as cash flow hedges:
Prepaid and other current assets Foreign exchange forward contracts$4 $5 
Other current liabilitiesForeign exchange forward contracts$21 $11 
Derivatives designated as net investment hedges:
Other non-current liabilitiesCross currency swaps$205 $294 
The following table provides information on the location and amounts of pre-tax gains (losses) on our cash flow hedges and net investment hedges for the three months ended March 31:
(in millions)Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion)Location of Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (effective portion)Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (effective portion)
2026202520262025
Cash flow hedges - designated as hedging instruments
Foreign exchange forward contracts$(8)$5 Revenue, Selling and general expenses$(2)$1 
Interest rate swap contracts$(2)$— Interest expense, net$2 $— 
Net investment hedges - designated as hedging instruments
Cross currency swaps$88 $(77)Interest expense, net$(1)$(1)
The activity related to the change in unrealized gains (losses) in accumulated other comprehensive loss was as follows for the three months ended March 31:
(in millions)20262025
Cash Flow Hedges
Foreign exchange forward contracts
Net unrealized (losses) gains on cash flow hedges, net of taxes, beginning of period$(5)$1 
Change in fair value, net of tax(9)5 
Reclassification into earnings, net of tax2 (1)
Net unrealized (losses) gains on cash flow hedges, net of taxes, end of period$(12)$5 
Interest rate swap contracts
Net unrealized gains on cash flow hedges, net of taxes, beginning of period$99 $99 
Change in fair value, net of tax(1)— 
Reclassification into earnings, net of tax(2)— 
Net unrealized gains on cash flow hedges, net of taxes, end of period$96 $99 
Net Investment Hedges
Net unrealized (losses) gains on net investment hedges, net of taxes, beginning of period$(234)$33 
Change in fair value, net of tax69 (59)
Reclassification into earnings, net of tax1 1 
Net unrealized losses on net investment hedges, net of taxes, end of period$(164)$(25)
v3.26.1
Employee Benefits
 3 Months Ended
Mar. 31, 2026
Retirement Benefits [Abstract]  
Employee Benefits Employee Benefits
We maintain a number of active defined contribution retirement plans for our employees. The majority of our defined benefit plans are frozen. As a result, no new employees will be permitted to enter these plans and no additional benefits for current participants in the frozen plans will be accrued.

We also have supplemental benefit plans that provide senior management with supplemental retirement, disability and death benefits. Certain supplemental retirement benefits are based on final monthly earnings. In addition, we sponsor a voluntary 401(k) plan under which we make a non-elective contribution and may match employee contributions up to certain levels of compensation as well as profit-sharing plans under which we contribute a percentage of eligible employees’ compensation to the employees’ accounts.

We also provide certain medical, dental and life insurance benefits for active employees and eligible dependents. The medical and dental plans and supplemental life insurance plan are contributory, while the basic life insurance plan is noncontributory. We currently do not prefund any of these plans.

We recognize the funded status of our retirement and postretirement plans in the consolidated balance sheets, with a corresponding adjustment to accumulated other comprehensive loss, net of taxes. The amounts in accumulated other comprehensive loss represent net unrecognized actuarial losses and unrecognized prior service costs. These amounts will be subsequently recognized as net periodic pension cost pursuant to our accounting policy for amortizing such amounts.

Net periodic benefit cost for our retirement and postretirement plans other than the service cost component are included in other (income) expense, net in our consolidated statements of income.
The components of net periodic benefit cost for our retirement plans and postretirement plans for the three months ended March 31 are as follows: 

(in millions)20262025
Interest cost17 17 
Expected return on assets(23)(24)
Amortization of prior service credit / actuarial loss2 1 
Net periodic benefit cost$(4)$(6)

Net periodic benefit cost related to our postretirement plans reflected in the table above was not material for the three months ended March 31, 2026 and 2025.

As discussed in our Form 10-K, we changed certain discount rate assumptions for our retirement and postretirement plans and our expected return on assets assumption for our retirement plans which became effective on January 1, 2026. The effect of the assumption changes on retirement and postretirement expense for the three months ended March 31, 2026 did not have a material impact to our financial position, results of operations or cash flows.

In the first three months of 2026, we contributed $3 million to our retirement plans and expect to make additional required contributions of approximately $8 million to our retirement plans during the remainder of the year. We may elect to make additional non-required contributions depending on investment performance or any potential deterioration of our pension plan status in remaining nine months of 2026.
v3.26.1
Stock-Based Compensation
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
We issue stock-based incentive awards to our eligible employees under the 2019 Employee Stock Incentive Plan and to our eligible non-employee members of the Board of Directors under a Director Deferred Stock Ownership Plan.

For the three months ended March 31, 2026 and 2025, total stock-based compensation expense related to restricted stock and other stock-based awards was $39 million and $47 million, respectively. During the three months ended March 31, 2026, the Company granted 0.5 million shares of restricted stock and other stock-based awards, which had a weighted average grant date fair value of $443.23 per share. Total unrecognized compensation expense related to unvested equity awards as of March 31, 2026 was $318 million, which is expected to be recognized over a weighted average period of 1.8 years.
v3.26.1
Equity
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Equity Equity
Dividends

On January 14, 2026, the Board of Directors approved an increase in the dividends for 2026 to a quarterly common stock dividend of $0.97 per share.
Stock Repurchases

On November 13, 2025, the Board of Directors approved a share repurchase program authorizing the purchase of 30 million shares (the “2025 Repurchase Program”), which was approximately 10% of the total shares of our outstanding common stock at the time. On June 22, 2022, the Board of Directors approved a share repurchase program authorizing the purchase of 30 million shares (the “2022 Repurchase Program”), which was approximately 9% of the total shares of our outstanding common stock at that time.
Our purchased shares may be used for general corporate purposes, including the issuance of shares for stock compensation plans and to offset the dilutive effect of the exercise of employee stock options. As of March 31, 2026, 29.6 million shares remained under the 2025 Repurchase Program and the 2022 repurchase program was completed. Our 2025 Repurchase Program has no expiration date and purchases under this program may be made from time to time on the open market and in private transactions, depending on market conditions.
We have entered into accelerated share repurchase (“ASR”) agreements with financial institutions to initiate share repurchases of our common stock. Under an ASR agreement, we pay a specified amount to the financial institution and receive an initial delivery of shares. Upon settlement of the ASR agreement, the financial institution typically delivers additional shares. The total number of shares ultimately delivered, and therefore the average price paid per share, is determined at the end of the applicable purchase period of each ASR agreement based on the volume weighted-average share price, less a discount. We
account for our ASR agreements as two transactions: a stock purchase transaction and a forward stock purchase contract. The shares delivered under the ASR agreements resulted in a reduction of outstanding shares used to determine our weighted average common shares outstanding for purposes of calculating basic and diluted earnings per share. The repurchased shares are held in Treasury. The forward stock purchase contracts are classified as equity instruments.

Effective January 1, 2023, the Inflation Reduction Act of 2022 has mandated a 1% excise tax on share repurchases. Excise tax obligations that result from the Company’s share repurchases are accounted for as a cost of the treasury stock transaction, and are included in other current liabilities on our consolidated balance sheets. The amount recorded in other current liabilities was $58 million and $46 million as of March 31, 2026 and December 31, 2025, respectively.

The terms of each ASR agreement entered into during the three months ended March 31, 2026 and 2025, structured as outlined above, are as follows:
(in millions, except average price paid per share)
ASR Agreement Initiation DateASR Agreement Completion DateInitial Shares DeliveredAdditional Shares DeliveredTotal Number of Shares
Purchased		Average Price Paid Per ShareTotal Cash Utilized
February 12, 2026 1
March 12, 20262.00.3 2.3$426.70 $1,000 
February 19, 2025 2
May 6, 20251.00.3 1.3$491.12 $650 
1 The ASR agreement was structured as an uncapped ASR agreement in which we paid $1 billion and initially received shares valued at 80% of the $1 billion at a price equal to the market price of the Company’s common stock on February 12, 2026. The Company received an initial delivery of 2.0 million shares from the ASR program. We completed the ASR agreement on March 12, 2026 and received an additional 0.3 million shares. The ASR agreement was executed under our 2025 and 2022 Repurchase Programs.
2 The ASR agreement was structured as an uncapped ASR agreement in which we paid $650 million and initially received shares valued at 80% of the $650 million at a price equal to the market price of the Company’s common stock on February 19, 2025. The Company received an initial delivery of 1.0 million shares from the ASR program. We completed the ASR agreement on May 6, 2025 and received an additional 0.3 million shares. The ASR agreement was executed under our 2022 Repurchase Program.

During the three months ended March 31, 2026, we received 3.1 million shares, including 0.8 million shares received in February of 2026 related to our December 4, 2025 ASR agreement. During the three months ended March 31, 2026, we purchased a total of 2.3 million shares for $1 billion of cash. During the three months ended March 31, 2025, we received 1.3 million shares, including 0.3 million shares received in February of 2025 related to our October 28, 2024 ASR agreement. During the three months ended March 31, 2025, we purchased a total of 1.0 million shares for $650 million of cash.

Redeemable Noncontrolling Interests

Our redeemable noncontrolling interests include an agreement with the minority partners that own 27% of our S&P Dow Jones Indices LLC joint venture contains redemption features whereby interests held by minority partners are redeemable either (i) at the option of the holder or (ii) upon the occurrence of an event that is not solely within our control. Specifically, under the terms of the operating agreement of S&P Dow Jones Indices LLC, CME Group and CME Group Index Services LLC (“CGIS”) has the right at any time to sell, and we are obligated to buy, at least 20% of their share in S&P Dow Jones Indices LLC. In addition, in the event there is a change of control of the Company, for the 15 days following a change in control, CME Group and CGIS will have the right to put their interest to us at the then fair value of CME Group’s and CGIS’ minority interest.
If interests were to be redeemed under this agreement, we would generally be required to purchase the interest at fair value on the date of redemption. This interest is presented on the consolidated balance sheets outside of equity under the caption “Redeemable noncontrolling interests” with an initial value based on fair value for the portion attributable to the net assets we acquired, and based on our historical cost for the portion attributable to our S&P Index business. We adjust the redeemable noncontrolling interest each reporting period to its estimated redemption value, but never less than its initial fair value, using both income and market valuation approaches. Our income and market valuation approaches may incorporate Level 3 fair value measures for instances when observable inputs are not available. The more significant judgmental assumptions used to estimate the value of the S&P Dow Jones Indices LLC joint venture include an estimated discount rate, a range of assumptions that form the basis of the expected future net cash flows (e.g., the revenue growth rates and operating margins), and a company specific beta. The significant judgmental assumptions used that incorporate market data, including the relative weighting of market observable information and the comparability of that information in our valuation models, are forward-looking and could be affected by future economic and market conditions. Any adjustments to the redemption value will impact retained income.
Noncontrolling interests that do not contain such redemption features are presented in equity.
Changes to redeemable noncontrolling interests during the three months ended March 31, 2026 were as follows:
(in millions)
Balance as of December 31, 2025
$4,917 
Net income attributable to redeemable noncontrolling interests100 
Distributions payable to redeemable noncontrolling interests(61)
Redemption value adjustment(31)
Other 1
(8)
Balance as of March 31, 2026 2
$4,917 
1 Includes foreign currency translation adjustments.
2 As of March 31, 2026, $4,914 million relates to our redeemable noncontrolling interest in the Indices business.

Accumulated Other Comprehensive Loss
The following table summarizes the changes in the components of accumulated other comprehensive loss for the three months ended March 31:
(in millions)Foreign Currency Translation AdjustmentsPension and Postretirement Benefit PlansUnrealized Gain (Loss) on Cash Flow HedgesAccumulated Other Comprehensive Loss
Balance as of December 31, 2025
$(403)$(386)$92 $(697)
Other comprehensive income (loss) before reclassifications(33)1— (10)(43)
Reclassifications from accumulated other comprehensive income (loss) to net earnings
1 2 21 34 
Net other comprehensive income (32)2 (9)(39)
Balance as of March 31, 2026
$(435)$(384)$83 $(736)
1Includes an unrealized gain related to our cross currency swaps. See Note 5 – Derivative Instruments for additional detail of items recognized in accumulated other comprehensive loss.
2Reflects amortization of net actuarial losses and is net of a tax expense of less than $1 million for the three months ended March 31, 2026. See Note 6 — Employee Benefits for additional details of items reclassed from accumulated other comprehensive loss to net earnings.
3See Note 5 — Derivative Instruments for additional details of items reclassified from accumulated other comprehensive loss to net earnings.
v3.26.1
Earnings Per Share
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Basic earnings per common share (“EPS”) is computed by dividing net income attributable to the common shareholders of the Company by the weighted-average number of common shares outstanding. Diluted EPS is computed in the same manner as basic EPS, except the number of shares is increased to include additional common shares that would have been outstanding if potential common shares with a dilutive effect had been issued. Potential common shares consist primarily of restricted performance shares and stock options calculated using the treasury stock method.
The calculation of basic and diluted EPS for the three months ended March 31 is as follows:
(in millions, except per share amounts)20262025
Amounts attributable to S&P Global Inc. common shareholders:
Net income$1,395 $1,090 
Basic weighted-average number of common shares outstanding
297.3 307.3 
Effect of dilutive securities0.3 0.4 
Diluted weighted-average number of common shares outstanding
297.6 307.7 
Earnings per share attributable to S&P Global Inc. common shareholders:
Net income:
Basic$4.69 $3.55 
Diluted$4.69 $3.54 
We have certain stock options and restricted performance shares that are potentially excluded from the computation of diluted EPS. The effect of the potential exercise of stock options is excluded when the average market price of our common stock is lower than the exercise price of the related option during the period or when a net loss exists because the effect would have been antidilutive. Additionally, restricted performance shares are excluded because the necessary vesting conditions had not been met or when a net loss exists. For the three months ended March 31, 2026 and 2025, there were no stock options excluded. Restricted performance shares outstanding of 0.5 million and 0.7 million as of March 31, 2026 and 2025, respectively, were excluded.
v3.26.1
Restructuring
 3 Months Ended
Mar. 31, 2026
Restructuring and Related Activities [Abstract]  
Restructuring Restructuring
We continuously evaluate our cost structure to identify cost savings associated with streamlining our management structure. Our 2025 restructuring plan consisted of a company-wide workforce reduction of approximately 1,300 positions and are further detailed below. The charges for each restructuring plan are classified as selling and general expenses within the consolidated statements of income and the reserves are included in other current liabilities in the consolidated balance sheets.

In certain circumstances, reserves are no longer needed because employees previously identified for separation resigned from the Company and did not receive severance or were reassigned due to circumstances not foreseen when the original plans were initiated. In these cases, we reverse reserves through the consolidated statements of income during the period when it is determined they are no longer needed.

The initial restructuring charge recorded and the ending reserve balance as of March 31, 2026 by segment is as follows:

2025 Restructuring Plan
(in millions)Initial Charge RecordedEnding Reserve Balance
Market Intelligence$56 $12 
Ratings17 3 
Energy 19 8 
Mobility 15 7 
Indices4 3 
Corporate 46 16 
Total $157 $49 

For the three months ended March 31, 2026, we did not record any restructuring charges. The ending reserve balance for the 2025 restructuring plan was $85 million as of December 31, 2025. For the three months ended March 31, 2026, we have reduced the reserve for the 2025 restructuring plan by $36 million. The ending reserve balance for the 2024 restructuring plan was $4 million and $15 million as of March 31, 2026 and December 31, 2025, respectively. The reductions primarily related to cash payments for employee severance charges.
v3.26.1
Segment and Related Information
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment and Related Information Segment and Related Information
We have five reportable segments: Market Intelligence, Ratings, Energy, Mobility and Indices.

Our Chief Executive Officer is our chief operating decision-maker (“CODM”) and evaluates performance of our segments and allocates resources (including employees, property, and financial or capital resources) based primarily on operating profit for each segment. Segment operating profit does not include Corporate Unallocated expense, equity in income on unconsolidated subsidiaries, other (income) expense, net, or interest expense, net, as these are amounts that do not affect the operating results of our reportable segments.


Operating results for the three months ended March 31 are as follows:
(in millions)Market Intelligence RatingsEnergyMobilityIndices Total
2026
Revenue from external customers$1,292 $1,257 $652 $454 $516 $4,171 
Intersegment revenue 1
445— — 352 
Revenue1,296 1,302 652 454 519 4,223 
Intersegment elimination(52)
Total revenue 4,171 
Less: segment expenses 2
860 420 330 272 136 2,018 
Less: other segment items 3
(4)1 35 89 11 132 
Intersegment elimination(52)
Segment operating profit$440 $881 $287 $93 $372 $2,073 
Corporate Unallocated expense 4
71 
Operating profit2,002 
Other income, net (2)
Interest expense, net96
Income before taxes on income$1,908 


(in millions)Market Intelligence RatingsEnergyMobilityIndices Total
2025
Revenue from external customers$1,196 $1,107 $612 $420 $442 $3,777 
Intersegment revenue 1
3 42— — 3 48
Revenue1,199 1,149 612 420 445 3,825 
Intersegment elimination(48)
Total revenue 3,777 
Less: segment expenses 2
805 388 318 258 121 1,890 
Less: other segment items 3
174 4 39 76 9 302 
Intersegment elimination(48)
Segment operating profit$220 $757 $255 $86 $315 $1,633 
Corporate Unallocated expense 4
66 
Equity in income on unconsolidated subsidiaries(11)
Operating profit1,578 
Other expense, net 4 
Interest expense, net78 
Income before taxes on income$1,496 
1    Intersegment revenue primarily relates to a royalty charged to Market Intelligence for the rights to use and distribute content and data developed by Ratings.
2     The segment expense category for Market Intelligence, Ratings, Energy, Mobility and Indices for 2026 and 2025 primarily include an aggregation of compensation costs, technology costs and strategic investments. The CODM considers actual-to-actual and budget-to-actual variances when making decisions about allocating personnel and capital to the segments; however, the CODM does not receive the individual expense items underlying the overall segment expenses. Variance explanations include segment expenses including compensation costs, technology costs and strategic investments, but the CODM is otherwise not provided, and cannot easily calculate, lower-level expense information.
3     Other segment items for 2026 for each reportable segment primarily include amortization of intangibles from acquisitions, gain on dispositions and certain items primarily including acquisition and disposition-related costs. Other segment items for 2025 for each reportable segment primarily include amortization of intangibles from acquisitions and certain items primarily including employee severance charges, Executive Leadership Team transition costs and acquisition and disposition-related costs.
4 Corporate Unallocated expense includes costs for corporate functions, select initiatives, unoccupied office space and Kensho, included in selling and general expenses.

The following table presents our revenue disaggregated by revenue type for the three months ended March 31:
(in millions)Market IntelligenceRatingsEnergyMobility Indices
Intersegment Elimination 1
Total
2026
Subscription$1,052 $— $506 $372 $84 $— $2,014 
Non-subscription / Transaction75 712 109 82 — — 978 
Non-transaction— 590 — — — (52)538 
Asset-linked fees— — — — 339 — 339 
Sales usage-based royalties— — 37 — 96 — 133 
Recurring variable revenue169 — — — — — 169 
Total revenue$1,296 $1,302 $652 $454 $519 $(52)$4,171 
Timing of revenue recognition
Services transferred at a point in time$75 $712 $109 $82 $— $— $978 
Services transferred over time
1,221 590 543 372 519 (52)3,193 
Total revenue$1,296 $1,302 $652 $454 $519 $(52)$4,171 

(in millions)Market IntelligenceRatingsEnergyMobilityIndices
Intersegment Elimination 1
Total
2025
Subscription$993 $— $486 $343 $76 $— $1,898 
Non-subscription / Transaction56 620 97 77 — — 850 
Non-transaction— 529 — — — (48)481 
Asset-linked fees— — — — 288 — 288 
Sales usage-based royalties— — 29 — 81 — 110 
Recurring variable revenue150 — — — — — 150 
Total revenue$1,199 $1,149 $612 $420 $445 $(48)$3,777 
Timing of revenue recognition
Services transferred at a point in time$56 $620 $97 $77 $— $— $850 
Services transferred over time1,143 529 515 343 445 (48)2,927 
Total revenue$1,199 $1,149 $612 $420 $445 $(48)$3,777 
1 Intersegment eliminations primarily consists of a royalty charged to Market Intelligence for the rights to use and distribute content and data developed by Ratings.

Segment information as of March 31, 2026 and December 31, 2025 is as follows:
(in millions)Total Assets
March 31, December 31,
 20262025
Market Intelligence$30,975 $31,234 
Ratings1,294 1,137 
Energy8,425 8,543 
Mobility12,905 12,974 
Indices3,437 3,378 
Total reportable segments57,036 57,266 
Corporate 1
3,628 3,738 
Assets of held for sale 2
128 196 
Total$60,792 $61,200 
1Corporate assets consist principally of cash and cash equivalents, goodwill and other intangible assets, investments, assets for pension benefits and deferred income taxes.
2Relates to the anticipated divestiture of Energy’s geoscience and petroleum engineering software portfolio and the divestitures of the Enterprise Data Management and thinkFolio businesses within our Market Intelligence segment as of March 31, 2026 and December 31, 2025, respectively. Additionally, assets held for sale include fixed assets related to our intent to sell our facility in Centennial, Colorado as of March 31, 2026 and December 31, 2025.

The following provides revenue by geographic region for the three months ended March 31:
(in millions)20262025
U.S.$2,625 $2,342 
European region895 849 
Asia430 382 
Rest of the world221 204 
Total$4,171 $3,777 

See Note 2 — Acquisitions and Divestitures and Note 10 — Restructuring for additional actions that impacted the segment operating results.
v3.26.1
Commitments and Contingencies
 3 Months Ended
Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Leases
We determine whether an arrangement meets the criteria for an operating lease or a finance lease at the inception of the arrangement. We have operating leases for office space and equipment. Our leases have remaining lease terms of 1 year to 11 years, some of which include options to extend the leases for up to 12 years, and some of which include options to terminate the leases early. We sublease certain real estate leases to third parties which mainly consist of operating leases for space within our offices.

Leases with an initial term of 12 months or less are not recorded on the balance sheet; we recognize lease expenses for these leases on a straight line-basis over the lease term in operating-related expenses and selling and general expenses.
Operating lease ROU assets and operating lease liabilities are recognized based on the present value of future minimum lease payments over the lease term at commencement date. Our future minimum based payments used to determine our lease liabilities include minimum based rent payments and escalations. As most of our leases do not provide an implicit rate, we use our estimated incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments.
The following table provides information on the location and amounts of our leases on our consolidated balance sheets as of March 31, 2026 and December 31, 2025:
(in millions)March 31, December 31,
Balance Sheet Location20262025
Assets
Right of use assetsLease right of use assets$388 $413 
Liabilities
Other current liabilitiesCurrent lease liabilities 124 124 
Lease liabilities — non-currentNon-current lease liabilities458 494 
The components of lease expense for the three months ended March 31 are as follows: 
(in millions)20262025
Operating lease cost$28 $31 
Sublease income(5)(3)
Total lease cost$23 $28 

Supplemental information related to leases for the three months ended March 31 are as follows:
(in millions)20262025
Cash paid for amounts included in the measurement for operating lease liabilities
Operating cash flows for operating leases$37 $36 
Right of use assets obtained in exchange for lease obligations
Operating leases14 20 

Weighted-average remaining lease term and discount rate for our operating leases are as follows:
March 31, December 31,
20262025
Weighted-average remaining lease term (years)4.85.3
Weighted-average discount rate 4.24 %4.25 %

Maturities of lease liabilities for our operating leases are as follows:
(in millions)
2026 (Excluding the three months ended March 31, 2026)
$110 
2027135 
2028109 
202988 
203065 
2031 and beyond148 
Total undiscounted lease payments $655 
Less: Imputed interest73 
Present value of lease liabilities$582 

As of March 31, 2026, the Company has certain lease agreements that have not yet commenced with total estimated future lease payments of $98 million which have been excluded from the table above. These lease agreements relate primarily to our Mobility segment. These leases are expected to begin in the second quarter of 2026 and continue through 2037, with lease terms ranging from 1 year to 11 years.
Related Party Agreements

In June of 2012, we entered into a license agreement (the “License Agreement") with the holder of S&P Dow Jones Indices LLC noncontrolling interest, CME Group, replacing the 2005 license agreement between Indices and CME Group. Under the terms of the License Agreement, S&P Dow Jones Indices LLC receives a share of the profits from the trading and clearing of CME Group’s equity index products. During both the three months ended March 31, 2026 and 2025, S&P Dow Jones Indices LLC earned $52 million of revenue under the terms of the License Agreement. The entire amount of this revenue is included in our consolidated statement of income and the portion related to the 27% noncontrolling interest is removed in net income attributable to noncontrolling interests.

Legal and Regulatory Matters

In the normal course of business both in the United States and abroad, the Company and its subsidiaries are defendants in a number of legal proceedings and are often subjected to government and regulatory proceedings, investigations and inquiries.

A class action lawsuit was filed in Australia on August 7, 2020 against the Company and a subsidiary of the Company. The lawsuit relates to alleged investment losses in collateralized debt obligations rated by Ratings prior to the financial crisis between 2005 and 2007. We can provide no assurance that we will not be obligated to pay significant amounts in order to resolve the lawsuit on terms deemed acceptable.

From time to time, the Company receives customer complaints. The Company believes it has strong contractual protections in the terms and conditions included in its arrangements with customers. Nonetheless, in the interest of managing customer relationships, the Company from time to time engages in dialogue with such customers in an effort to resolve such complaints, and if such complaints cannot be resolved through dialogue, may face litigation regarding such complaints. The Company does not expect to incur material losses as a result of these matters.

Moreover, various government and self-regulatory agencies frequently make inquiries and conduct investigations into our compliance with applicable laws and regulations, including those related to our regulated products and services, antitrust matters and other matters, such as ESG. For example, as a nationally recognized statistical rating organization registered with the SEC under Section 15E of the Exchange Act, S&P Global Ratings is in ongoing communication with the staff of the SEC regarding compliance with its extensive obligations under the federal securities laws. Although S&P Global seeks to promptly address any compliance issues that it detects or that the staff of the SEC or another regulator raises, there can be no assurance that the SEC or another regulator will not seek remedies against S&P Global for one or more compliance deficiencies. Any of these proceedings, investigations or inquiries could ultimately result in adverse judgments, damages, fines, penalties or activity restrictions, which could adversely impact our consolidated financial condition, cash flows, business or competitive position.

In view of the uncertainty inherent in litigation and government and regulatory enforcement matters, we cannot predict the eventual outcome of such matters or the timing of their resolution, or in most cases reasonably estimate what the eventual judgments, damages, fines, penalties or impact of activity (if any) restrictions may be. As a result, we cannot provide assurance that such outcomes will not have a material adverse effect on our consolidated financial condition, cash flows, business or competitive position. As litigation or the process to resolve pending matters progresses, as the case may be, we will continue to review the latest information available and assess our ability to predict the outcome of such matters and the effects, if any, on our consolidated financial condition, cash flows, business or competitive position, which may require that we record liabilities in the consolidated financial statements in future periods.
v3.26.1
Recently Issued or Adopted Accounting Standards
 3 Months Ended
Mar. 31, 2026
Accounting Changes and Error Corrections [Abstract]  
Recently Issued or Adopted Accounting Standards Recently Issued or Adopted Accounting Standards
In November of 2025, the Financial Accounting Standards Board (“FASB”) issued accounting guidance to more closely align hedge accounting with the economics of an entity's risk management activities. This guidance is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within those annual reporting periods, and early adoption is permitted. We do not expect this guidance to have a significant impact on our consolidated financial statements.

In September of 2025, the FASB issued accounting guidance that clarifies the guidance on which contracts are subject to derivative accounting and guidance on accounting for share based payments on contracts with customers. This guidance is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within those annual reporting periods, and early adoption is permitted. We do not expect this guidance to have a significant impact on our consolidated financial statements.

In September of 2025, the FASB issued accounting guidance which removes references to prescriptive software development stages and includes an updated framework for capitalizing internal software costs. This guidance is effective for annual
reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods, and early adoption is permitted. We do not expect this guidance to have a significant impact on our consolidated financial statements.

In July of 2025, the FASB issued accounting guidance that provides an optional practical expedient for estimating future credit losses based on current conditions as of the balance sheet date and assuming those conditions do not change over the remaining life of the accounts receivable. The guidance was effective on January 1, 2026, and the adoption of this guidance did not have an impact on our consolidated financial statements.

In May of 2025, the FASB issued accounting guidance to improve the requirements for identifying the accounting acquirer in ASC 805, Business Combinations. The amendments in this update revise current guidance for determining the accounting acquirer for a transaction effected primarily by exchanging equity interests in which the legal acquiree is a VIE that meets the definition of a business. This guidance is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within those annual reporting periods, and early adoption is permitted as of the beginning of an interim or annual reporting period. This guidance is required to be applied prospectively to any acquisition transaction that occurs after the initial application date. We do not expect this guidance to have a significant impact on our consolidated financial statements.

In November of 2024, the FASB issued accounting guidance which requires that an entity disclose, in the notes to financial statements, additional information about specific expense categories. The amendments in this update are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. We are currently evaluating the impact of this guidance on the Company’s disclosures.
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2026
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.26.1
Nature of Operations and Basis of Presentation (Policies)
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Nature of Operations
S&P Global Inc. (together with its consolidated subsidiaries, “S&P Global,” the “Company,” “we,” “us” or “our”) is a global, diversified, and highly differentiated provider of benchmarks, data, analytics and workflow solutions in the global capital, energy and commodity, and automotive markets.

Our operations consist of five reportable segments: S&P Global Market Intelligence (“Market Intelligence”), S&P Global Ratings (“Ratings”), S&P Global Energy (“Energy”), S&P Global Mobility (“Mobility”) and S&P Dow Jones Indices (“Indices”).
•Market Intelligence is a global provider of multi-asset-class data and analytics integrated with purpose-built workflow solutions.
•Ratings is an independent provider of credit ratings, research, and analytics.
•Energy is a leading independent provider of information and benchmark prices for the energy and commodity markets.
•Mobility is a leading provider of solutions serving the full automotive value chain including vehicle manufacturers (Original Equipment Manufacturers or OEMs), automotive suppliers, mobility service providers, retailers, consumers, and finance and insurance companies.
•Indices is a global index provider maintaining a wide variety of valuation and index benchmarks for investment advisors, wealth managers and institutional investors.
On April 29, 2025, we announced that our Board of Directors decided to pursue a full separation of our Mobility segment, creating a new publicly traded company. The name of the new publicly traded company, Mobility Global Inc., will be effective on day one of the separation. The transaction, which would be implemented through the spin-off of shares of the new company to S&P Global shareholders, is expected to be tax-free for U.S. federal income tax purposes for S&P Global shareholders and is expected to be completed mid-2026, subject to the satisfaction of customary legal and regulatory requirements and approvals.
Basis of Presentation
The accompanying unaudited financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. Therefore, the financial statements included herein should be read in conjunction with the financial statements and notes included in our Form 10-K for the year ended December 31, 2025 (our “Form 10-K”).

In the opinion of management, all normal recurring adjustments considered necessary for a fair statement of the results of the interim periods have been included. The operating results for the three months ended March 31, 2026 are not necessarily indicative of the results that may be expected for the full year.
Use of Estimates On an ongoing basis, we evaluate our estimates and assumptions, including those related to revenue recognition, business combinations, allowance for doubtful accounts, valuation of long-lived assets, goodwill and other intangible assets, pension plans, incentive compensation and stock-based compensation, income taxes, contingencies and redeemable noncontrolling interests.
Restricted Cash
Restricted Cash
We had no restricted cash included in our consolidated balance sheets
Contract Assets, Unearned Revenue, Remaining Performance Obligations and Costs to Obtain Contracts
Contract Assets

Contract assets include unbilled amounts from when the Company transfers service to a customer before a customer pays consideration or before payment is due. As of March 31, 2026 and December 31, 2025, contract assets were $107 million and $89 million, respectively, and are included in accounts receivable in our consolidated balance sheets.
Unearned Revenue

We record unearned revenue when cash payments are received in advance of our performance. The decrease in the unearned revenue balance at March 31, 2026 compared to December 31, 2025 is primarily driven by $1.8 billion of revenues recognized that were included in the unearned revenue balance at the beginning of the period, offset by cash payments received in advance of satisfying our performance obligations.

Remaining Performance Obligations

Remaining performance obligations represent the transaction price of contracts for work that has not yet been performed. As of March 31, 2026, the aggregate amount of the transaction price allocated to remaining performance obligations was $5.7 billion. We expect to recognize revenue on approximately half and three-quarters of the remaining performance obligations over the next 12 and 24 months, respectively, with the remainder recognized thereafter.

We do not disclose the value of unfulfilled performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts where revenue is a usage-based royalty promised in exchange for a license of intellectual property.

Costs to Obtain Contracts

We recognize an asset for the incremental costs of obtaining a contract with a customer if we expect the benefit of those costs to be longer than one year. We have determined that the costs associated with certain sales commission programs are incremental to the costs to obtain contracts with customers and therefore meet the criteria to be capitalized. Total capitalized costs to obtain contracts were $349 million as of March 31, 2026 and December 31, 2025, and are included in prepaid and other current assets and other non-current assets on our consolidated balance sheets. The capitalized asset will be amortized over a period consistent with the transfer to the customer of the goods or services to which the asset relates, calculated based on the customer term and the average life of the products and services underlying the contracts which has been determined to be approximately 2 to 5 years. The expense is recorded within selling and general expenses in the consolidated statements of income.

We expense sales commissions when incurred if the benefit of those costs is one year or less. These costs are recorded within selling and general expenses in the consolidated statements of income.
Equity in Income on Unconsolidated Subsidiaries
Equity in Income on Unconsolidated Subsidiaries

On October 10, 2025, the Company and CME Group completed the sale of OSTTRA, an investment in a 50/50 joint venture arrangement with shared control with CME Group that combined each company’s post-trade services into a joint venture.
Recently Issued or Adopted Accounting Standards Recently Issued or Adopted Accounting Standards
In November of 2025, the Financial Accounting Standards Board (“FASB”) issued accounting guidance to more closely align hedge accounting with the economics of an entity's risk management activities. This guidance is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within those annual reporting periods, and early adoption is permitted. We do not expect this guidance to have a significant impact on our consolidated financial statements.

In September of 2025, the FASB issued accounting guidance that clarifies the guidance on which contracts are subject to derivative accounting and guidance on accounting for share based payments on contracts with customers. This guidance is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within those annual reporting periods, and early adoption is permitted. We do not expect this guidance to have a significant impact on our consolidated financial statements.

In September of 2025, the FASB issued accounting guidance which removes references to prescriptive software development stages and includes an updated framework for capitalizing internal software costs. This guidance is effective for annual
reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods, and early adoption is permitted. We do not expect this guidance to have a significant impact on our consolidated financial statements.

In July of 2025, the FASB issued accounting guidance that provides an optional practical expedient for estimating future credit losses based on current conditions as of the balance sheet date and assuming those conditions do not change over the remaining life of the accounts receivable. The guidance was effective on January 1, 2026, and the adoption of this guidance did not have an impact on our consolidated financial statements.

In May of 2025, the FASB issued accounting guidance to improve the requirements for identifying the accounting acquirer in ASC 805, Business Combinations. The amendments in this update revise current guidance for determining the accounting acquirer for a transaction effected primarily by exchanging equity interests in which the legal acquiree is a VIE that meets the definition of a business. This guidance is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within those annual reporting periods, and early adoption is permitted as of the beginning of an interim or annual reporting period. This guidance is required to be applied prospectively to any acquisition transaction that occurs after the initial application date. We do not expect this guidance to have a significant impact on our consolidated financial statements.

In November of 2024, the FASB issued accounting guidance which requires that an entity disclose, in the notes to financial statements, additional information about specific expense categories. The amendments in this update are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. We are currently evaluating the impact of this guidance on the Company’s disclosures.
v3.26.1
Nature of Operations and Basis of Presentation (Tables)
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Components of Other (Income) Expense, net
The components of other (income) expense, net for the three months ended March 31 are as follows:
(in millions)20262025
Other components of net periodic benefit cost$(4)$(6)
Net loss from investments2 10 
Other (income) expense, net$(2)$4 
v3.26.1
Acquisitions and Divestitures (Tables)
 3 Months Ended
Mar. 31, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Businesses Held for Sale or Disposed
The components of assets and liabilities held for sale in the consolidated balance sheets consist of the following:

(in millions)March 31,December 31,
2026 1
2025 1
Accounts receivable, net $51 $34 
Property and equipment, net8 8 
Goodwill69 141 
Other non-current assets— 13 
Assets held for sale$128 $196 
Accounts payable$2 $9 
Unearned revenue25 34 
Liabilities held for sale$27 $43 
1 Assets and liabilities held for sale relate to the anticipated divestiture of Energy’s geoscience and petroleum engineering software portfolio and the divestitures of the Enterprise Data Management and thinkFolio businesses within our Market Intelligence segment as of March 31, 2026 and December 31, 2025, respectively. Additionally, assets held for sale include fixed assets related to our intent to sell our facility in Centennial, Colorado as of March 31, 2026 and December 31, 2025.
v3.26.1
Debt (Tables)
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Schedule of Short-term and Long-term Debt Outstanding
A summary of short-term and long-term debt outstanding is as follows:
(in millions)March 31,
2026		December 31,
2025
4.0% Senior Notes, due 2026 1
— 3 
2.95% Senior Notes, due 2027 2
499 499 
2.45% Senior Notes, due 2027 3
1,247 1,246 
4.75% Senior Notes, due 2028 4
781 784 
4.25% Senior Notes, due 2029 5
988 991 
2.5% Senior Notes, due 2029 6
498 498 
2.95% Sustainability-Linked Senior Notes, due 2029 7
1,241 1,241 
1.25% Senior Notes, due 2030 8
596 596 
4.25% Senior Notes, due 2031 9
596 595 
2.90% Senior Notes, due 2032 10
1,480 1,480 
5.25% Senior Notes, due 2033 11
744 744 
4.80% Senior Notes, due 2035 12
396 396 
6.55% Senior Notes, due 2037 13
291 291 
4.5% Senior Notes, due 2048 14
273 273 
3.25% Senior Notes, due 2049 15
591 591 
3.70% Senior Notes, due 2052 16
976 976 
2.3% Senior Notes, due 2060 17
683 683 
3.9% Senior Notes, due 2062 18
487 486 
Commercial paper951 715 
Total debt13,318 13,088 
Less: short-term debt including current maturities2,697 718 
Long-term debt$10,621 $12,370 
1     We made a $3 million repayment of our 4.0% Senior Notes in the first quarter of 2026.
2    Interest payments are due semiannually on January 22 and July 22, and as of March 31, 2026, the unamortized debt discount and issuance costs total $1 million.
3    Interest payments are due semiannually on March 1 and September 1 and as of March 31, 2026, the unamortized debt discount and issuance costs total $3 million.
4     Interest payments are due semiannually on February 1 and August 1.
5 Interest payments are due semiannually on May 1 and November 1.
6    Interest payments are due semiannually on June 1 and December 1, and as of March 31, 2026, the unamortized debt discount and issuance costs total $2 million.
7    Interest payments are due semiannually on March 1 and September 1 and as of March 31, 2026, the unamortized debt discount and issuance costs total $9 million. From and including March 1, 2026, the interest rate payable on Sustainability-Linked Senior Notes due 2029 was increased by 25 basis points (0.25%) per annum, in accordance with the terms of the governing indenture.
8    Interest payments are due semiannually on February 15 and August 15, and as of March 31, 2026, the unamortized debt discount and issuance costs total $4 million.
9    Interest payments are due semiannually on January 15 and July 15, beginning on July 15, 2026, and as of March 31, 2026, the unamortized debt discount and issuance costs total $4 million.
10 Interest payments are due semiannually on March 1 and September 1 and as of March 31, 2026, the unamortized debt discount and issuance costs total $20 million.
11 Interest payments are due semiannually on March 15 and September 15, and as of March 31, 2026, the unamortized debt discount and issuance costs total $6 million.
12    Interest payments are due semiannually on June 4 and December 4, beginning on June 4, 2026, and as of March 31, 2026, the unamortized debt discount and issuance costs total $4 million.
13    Interest payments are due semiannually on May 15 and November 15, and as of March 31, 2026, the unamortized debt discount and issuance costs total $2 million.
14    Interest payments are due semiannually on May 15 and November 15, and as of March 31, 2026, the unamortized debt discount and issuance costs total $10 million.
15 Interest payments are due semiannually on June 1 and December 1, and as of March 31, 2026, the unamortized debt discount and issuance costs total $9 million.
16    Interest payments are due semiannually on March 1 and September 1 and as of March 31, 2026, the unamortized debt discount and issuance costs total $24 million.
17    Interest payments are due semiannually on February 15 and August 15, and as of March 31, 2026, the unamortized debt discount and issuance costs total $17 million.
18    Interest payments are due semiannually on March 1 and September 1 and as of March 31, 2026, the unamortized debt discount and issuance costs total $13 million.
v3.26.1
Derivative Instruments (Tables)
 3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Location and Fair Value Amounts of Cash Flow Hedges
The following table provides information on the location and fair value amounts of our cash flow hedges and net investment hedges as of March 31, 2026 and December 31, 2025:

(in millions)March 31, December 31,
Balance Sheet Location20262025
Derivatives designated as cash flow hedges:
Prepaid and other current assets Foreign exchange forward contracts$4 $5 
Other current liabilitiesForeign exchange forward contracts$21 $11 
Derivatives designated as net investment hedges:
Other non-current liabilitiesCross currency swaps$205 $294 
Schedule of Pre-tax Gains (Losses) on Cash Flow Hedges
The following table provides information on the location and amounts of pre-tax gains (losses) on our cash flow hedges and net investment hedges for the three months ended March 31:
(in millions)Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion)Location of Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (effective portion)Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (effective portion)
2026202520262025
Cash flow hedges - designated as hedging instruments
Foreign exchange forward contracts$(8)$5 Revenue, Selling and general expenses$(2)$1 
Interest rate swap contracts$(2)$— Interest expense, net$2 $— 
Net investment hedges - designated as hedging instruments
Cross currency swaps$88 $(77)Interest expense, net$(1)$(1)
Schedule of Cash Flow Hedges included in AOCI
The activity related to the change in unrealized gains (losses) in accumulated other comprehensive loss was as follows for the three months ended March 31:
(in millions)20262025
Cash Flow Hedges
Foreign exchange forward contracts
Net unrealized (losses) gains on cash flow hedges, net of taxes, beginning of period$(5)$1 
Change in fair value, net of tax(9)5 
Reclassification into earnings, net of tax2 (1)
Net unrealized (losses) gains on cash flow hedges, net of taxes, end of period$(12)$5 
Interest rate swap contracts
Net unrealized gains on cash flow hedges, net of taxes, beginning of period$99 $99 
Change in fair value, net of tax(1)— 
Reclassification into earnings, net of tax(2)— 
Net unrealized gains on cash flow hedges, net of taxes, end of period$96 $99 
Net Investment Hedges
Net unrealized (losses) gains on net investment hedges, net of taxes, beginning of period$(234)$33 
Change in fair value, net of tax69 (59)
Reclassification into earnings, net of tax1 1 
Net unrealized losses on net investment hedges, net of taxes, end of period$(164)$(25)
v3.26.1
Employee Benefits (Tables)
 3 Months Ended
Mar. 31, 2026
Retirement Benefits [Abstract]  
Schedule of Net Periodic Benefit Cost
The components of net periodic benefit cost for our retirement plans and postretirement plans for the three months ended March 31 are as follows: 

(in millions)20262025
Interest cost17 17 
Expected return on assets(23)(24)
Amortization of prior service credit / actuarial loss2 1 
Net periodic benefit cost$(4)$(6)
v3.26.1
Equity (Tables)
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Schedule of Accelerated Share Repurchase Agreements
The terms of each ASR agreement entered into during the three months ended March 31, 2026 and 2025, structured as outlined above, are as follows:
(in millions, except average price paid per share)
ASR Agreement Initiation DateASR Agreement Completion DateInitial Shares DeliveredAdditional Shares DeliveredTotal Number of Shares
Purchased		Average Price Paid Per ShareTotal Cash Utilized
February 12, 2026 1
March 12, 20262.00.3 2.3$426.70 $1,000 
February 19, 2025 2
May 6, 20251.00.3 1.3$491.12 $650 
1 The ASR agreement was structured as an uncapped ASR agreement in which we paid $1 billion and initially received shares valued at 80% of the $1 billion at a price equal to the market price of the Company’s common stock on February 12, 2026. The Company received an initial delivery of 2.0 million shares from the ASR program. We completed the ASR agreement on March 12, 2026 and received an additional 0.3 million shares. The ASR agreement was executed under our 2025 and 2022 Repurchase Programs.
2 The ASR agreement was structured as an uncapped ASR agreement in which we paid $650 million and initially received shares valued at 80% of the $650 million at a price equal to the market price of the Company’s common stock on February 19, 2025. The Company received an initial delivery of 1.0 million shares from the ASR program. We completed the ASR agreement on May 6, 2025 and received an additional 0.3 million shares. The ASR agreement was executed under our 2022 Repurchase Program.
Schedule of Redeemable Noncontrolling Interests
Changes to redeemable noncontrolling interests during the three months ended March 31, 2026 were as follows:
(in millions)
Balance as of December 31, 2025
$4,917 
Net income attributable to redeemable noncontrolling interests100 
Distributions payable to redeemable noncontrolling interests(61)
Redemption value adjustment(31)
Other 1
(8)
Balance as of March 31, 2026 2
$4,917 
1 Includes foreign currency translation adjustments.
2 As of March 31, 2026, $4,914 million relates to our redeemable noncontrolling interest in the Indices business.
Schedule of Changes in the Components of Accumulated Other Comprehensive Loss
The following table summarizes the changes in the components of accumulated other comprehensive loss for the three months ended March 31:
(in millions)Foreign Currency Translation AdjustmentsPension and Postretirement Benefit PlansUnrealized Gain (Loss) on Cash Flow HedgesAccumulated Other Comprehensive Loss
Balance as of December 31, 2025
$(403)$(386)$92 $(697)
Other comprehensive income (loss) before reclassifications(33)1— (10)(43)
Reclassifications from accumulated other comprehensive income (loss) to net earnings
1 2 21 34 
Net other comprehensive income (32)2 (9)(39)
Balance as of March 31, 2026
$(435)$(384)$83 $(736)
1Includes an unrealized gain related to our cross currency swaps. See Note 5 – Derivative Instruments for additional detail of items recognized in accumulated other comprehensive loss.
2Reflects amortization of net actuarial losses and is net of a tax expense of less than $1 million for the three months ended March 31, 2026. See Note 6 — Employee Benefits for additional details of items reclassed from accumulated other comprehensive loss to net earnings.
3See Note 5 — Derivative Instruments for additional details of items reclassified from accumulated other comprehensive loss to net earnings.
v3.26.1
Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Schedule of Calculation for Basic and Diluted Earnings per Share
The calculation of basic and diluted EPS for the three months ended March 31 is as follows:
(in millions, except per share amounts)20262025
Amounts attributable to S&P Global Inc. common shareholders:
Net income$1,395 $1,090 
Basic weighted-average number of common shares outstanding
297.3 307.3 
Effect of dilutive securities0.3 0.4 
Diluted weighted-average number of common shares outstanding
297.6 307.7 
Earnings per share attributable to S&P Global Inc. common shareholders:
Net income:
Basic$4.69 $3.55 
Diluted$4.69 $3.54 
v3.26.1
Restructuring (Tables)
 3 Months Ended
Mar. 31, 2026
Restructuring and Related Activities [Abstract]  
Schedule of Initial Restructuring Charge Recorded and the Ending Reserve Balance
The initial restructuring charge recorded and the ending reserve balance as of March 31, 2026 by segment is as follows:

2025 Restructuring Plan
(in millions)Initial Charge RecordedEnding Reserve Balance
Market Intelligence$56 $12 
Ratings17 3 
Energy 19 8 
Mobility 15 7 
Indices4 3 
Corporate 46 16 
Total $157 $49 
v3.26.1
Segment and Related Information (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Schedule of Segment Information
Operating results for the three months ended March 31 are as follows:
(in millions)Market Intelligence RatingsEnergyMobilityIndices Total
2026
Revenue from external customers$1,292 $1,257 $652 $454 $516 $4,171 
Intersegment revenue 1
445— — 352 
Revenue1,296 1,302 652 454 519 4,223 
Intersegment elimination(52)
Total revenue 4,171 
Less: segment expenses 2
860 420 330 272 136 2,018 
Less: other segment items 3
(4)1 35 89 11 132 
Intersegment elimination(52)
Segment operating profit$440 $881 $287 $93 $372 $2,073 
Corporate Unallocated expense 4
71 
Operating profit2,002 
Other income, net (2)
Interest expense, net96
Income before taxes on income$1,908 


(in millions)Market Intelligence RatingsEnergyMobilityIndices Total
2025
Revenue from external customers$1,196 $1,107 $612 $420 $442 $3,777 
Intersegment revenue 1
3 42— — 3 48
Revenue1,199 1,149 612 420 445 3,825 
Intersegment elimination(48)
Total revenue 3,777 
Less: segment expenses 2
805 388 318 258 121 1,890 
Less: other segment items 3
174 4 39 76 9 302 
Intersegment elimination(48)
Segment operating profit$220 $757 $255 $86 $315 $1,633 
Corporate Unallocated expense 4
66 
Equity in income on unconsolidated subsidiaries(11)
Operating profit1,578 
Other expense, net 4 
Interest expense, net78 
Income before taxes on income$1,496 
1    Intersegment revenue primarily relates to a royalty charged to Market Intelligence for the rights to use and distribute content and data developed by Ratings.
2     The segment expense category for Market Intelligence, Ratings, Energy, Mobility and Indices for 2026 and 2025 primarily include an aggregation of compensation costs, technology costs and strategic investments. The CODM considers actual-to-actual and budget-to-actual variances when making decisions about allocating personnel and capital to the segments; however, the CODM does not receive the individual expense items underlying the overall segment expenses. Variance explanations include segment expenses including compensation costs, technology costs and strategic investments, but the CODM is otherwise not provided, and cannot easily calculate, lower-level expense information.
3     Other segment items for 2026 for each reportable segment primarily include amortization of intangibles from acquisitions, gain on dispositions and certain items primarily including acquisition and disposition-related costs. Other segment items for 2025 for each reportable segment primarily include amortization of intangibles from acquisitions and certain items primarily including employee severance charges, Executive Leadership Team transition costs and acquisition and disposition-related costs.
4 Corporate Unallocated expense includes costs for corporate functions, select initiatives, unoccupied office space and Kensho, included in selling and general expenses.

The following table presents our revenue disaggregated by revenue type for the three months ended March 31:
(in millions)Market IntelligenceRatingsEnergyMobility Indices
Intersegment Elimination 1
Total
2026
Subscription$1,052 $— $506 $372 $84 $— $2,014 
Non-subscription / Transaction75 712 109 82 — — 978 
Non-transaction— 590 — — — (52)538 
Asset-linked fees— — — — 339 — 339 
Sales usage-based royalties— — 37 — 96 — 133 
Recurring variable revenue169 — — — — — 169 
Total revenue$1,296 $1,302 $652 $454 $519 $(52)$4,171 
Timing of revenue recognition
Services transferred at a point in time$75 $712 $109 $82 $— $— $978 
Services transferred over time
1,221 590 543 372 519 (52)3,193 
Total revenue$1,296 $1,302 $652 $454 $519 $(52)$4,171 

(in millions)Market IntelligenceRatingsEnergyMobilityIndices
Intersegment Elimination 1
Total
2025
Subscription$993 $— $486 $343 $76 $— $1,898 
Non-subscription / Transaction56 620 97 77 — — 850 
Non-transaction— 529 — — — (48)481 
Asset-linked fees— — — — 288 — 288 
Sales usage-based royalties— — 29 — 81 — 110 
Recurring variable revenue150 — — — — — 150 
Total revenue$1,199 $1,149 $612 $420 $445 $(48)$3,777 
Timing of revenue recognition
Services transferred at a point in time$56 $620 $97 $77 $— $— $850 
Services transferred over time1,143 529 515 343 445 (48)2,927 
Total revenue$1,199 $1,149 $612 $420 $445 $(48)$3,777 
1 Intersegment eliminations primarily consists of a royalty charged to Market Intelligence for the rights to use and distribute content and data developed by Ratings.

Segment information as of March 31, 2026 and December 31, 2025 is as follows:
(in millions)Total Assets
March 31, December 31,
 20262025
Market Intelligence$30,975 $31,234 
Ratings1,294 1,137 
Energy8,425 8,543 
Mobility12,905 12,974 
Indices3,437 3,378 
Total reportable segments57,036 57,266 
Corporate 1
3,628 3,738 
Assets of held for sale 2
128 196 
Total$60,792 $61,200 
1Corporate assets consist principally of cash and cash equivalents, goodwill and other intangible assets, investments, assets for pension benefits and deferred income taxes.
2Relates to the anticipated divestiture of Energy’s geoscience and petroleum engineering software portfolio and the divestitures of the Enterprise Data Management and thinkFolio businesses within our Market Intelligence segment as of March 31, 2026 and December 31, 2025, respectively. Additionally, assets held for sale include fixed assets related to our intent to sell our facility in Centennial, Colorado as of March 31, 2026 and December 31, 2025.
Schedule of Revenue and Long-lived Assets by Geographic Region
The following provides revenue by geographic region for the three months ended March 31:
(in millions)20262025
U.S.$2,625 $2,342 
European region895 849 
Asia430 382 
Rest of the world221 204 
Total$4,171 $3,777 
v3.26.1
Commitments and Contingencies (Tables)
 3 Months Ended
Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Location and Amounts of Leases
The following table provides information on the location and amounts of our leases on our consolidated balance sheets as of March 31, 2026 and December 31, 2025:
(in millions)March 31, December 31,
Balance Sheet Location20262025
Assets
Right of use assetsLease right of use assets$388 $413 
Liabilities
Other current liabilitiesCurrent lease liabilities 124 124 
Lease liabilities — non-currentNon-current lease liabilities458 494 
Schedule of Components of Lease Expense and Supplemental Cash Flow Information
The components of lease expense for the three months ended March 31 are as follows: 
(in millions)20262025
Operating lease cost$28 $31 
Sublease income(5)(3)
Total lease cost$23 $28 

Supplemental information related to leases for the three months ended March 31 are as follows:
(in millions)20262025
Cash paid for amounts included in the measurement for operating lease liabilities
Operating cash flows for operating leases$37 $36 
Right of use assets obtained in exchange for lease obligations
Operating leases14 20 
Schedule of Lease Term and Discount Rate
Weighted-average remaining lease term and discount rate for our operating leases are as follows:
March 31, December 31,
20262025
Weighted-average remaining lease term (years)4.85.3
Weighted-average discount rate 4.24 %4.25 %
Schedule of Maturities of Operating Lease Liabilities
Maturities of lease liabilities for our operating leases are as follows:
(in millions)
2026 (Excluding the three months ended March 31, 2026)
$110 
2027135 
2028109 
202988 
203065 
2031 and beyond148 
Total undiscounted lease payments $655 
Less: Imputed interest73 
Present value of lease liabilities$582 
v3.26.1
Nature of Operations and Basis of Presentation - Narrative (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2026
USD ($)
Mar. 31, 2026
USD ($)
segment
Mar. 31, 2026
USD ($)
Segment
Dec. 31, 2025
USD ($)
Oct. 10, 2025
Business Combination [Line Items]          
Number of reportable segments   5 5    
Restricted cash $ 0 $ 0 $ 0 $ 0  
Contract asset 107 107 107 89  
Revenues recognized 1,800        
Capitalized contract costs $ 349 $ 349 $ 349 $ 349  
12 months | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-04-01          
Business Combination [Line Items]          
Remaining performance obligation percentage 50.00% 50.00% 50.00%    
24 months | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-04-01          
Business Combination [Line Items]          
Remaining performance obligation percentage 75.00% 75.00% 75.00%    
Minimum          
Business Combination [Line Items]          
Capitalized contract cost amortization period (in years) 2 years 2 years 2 years    
Maximum          
Business Combination [Line Items]          
Capitalized contract cost amortization period (in years) 5 years 5 years 5 years    
OSTTRA | Corporate Joint Venture          
Business Combination [Line Items]          
Ownership interest of subsidiary (as a percent)         50.00%
Noncontrolling interest ownership by noncontrolling owners (as a percent)         50.00%
v3.26.1
Nature of Operations and Basis of Presentation - Remaining Performance Obligations (Details)
$ in Billions
Mar. 31, 2026
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligations $ 5.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-04-01 | 12 months  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation percentage 50.00%
Period of recognition for remaining performance obligation 12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-04-01 | 24 months  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation percentage 75.00%
Period of recognition for remaining performance obligation 24 months
v3.26.1
Nature of Operations and Basis of Presentation - Schedule of Components of Other (Income) Expense, net (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Other components of net periodic benefit cost $ (4) $ (6)
Net loss from investments 2 10
Other (income) expense, net $ (2) $ 4
v3.26.1
Acquisitions and Divestitures - Narrative (Details) - USD ($)
$ in Millions
 1 Months Ended 3 Months Ended
Mar. 31, 2026
Mar. 31, 2026
Mar. 31, 2025
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Gain on dispositions   $ 175 $ 0
OSTTRA      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Pre-tax gain on sale $ 3    
Gain on sale after tax $ 3    
Disposal Group, Disposed of by Sale, Not Discontinued Operations      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Gain on dispositions   175  
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Enterprise Data Management and ThinkFolio      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Gain on dispositions   172  
Gain on disposition after tax   $ 168  
v3.26.1
Acquisitions and Divestitures - Assets and Liabilities Held-for-Sale (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]    
Accounts receivable, net $ 51 $ 34
Property and equipment, net 8 8
Goodwill 69 141
Other non-current assets 0 13
Assets held for sale 128 196
Accounts payable 2 9
Unearned revenue 25 34
Liabilities held for sale $ 27 $ 43
v3.26.1
Income Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Income Tax Disclosure [Abstract]      
Effective income tax rate (as a percent) 21.20% 21.70%  
Unrecognized tax benefits $ 320   $ 322
Accrued interest and penalties associated with unrecognized tax benefits $ 86   $ 79
v3.26.1
Debt - Schedule of Short-term and Long-term Debt Outstanding (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 01, 2026
Mar. 31, 2026
Dec. 31, 2025
Debt Instrument [Line Items]      
Total debt   $ 13,318 $ 13,088
Less: short-term debt including current maturities   2,697 718
Long-term debt   $ 10,621 12,370
Senior Notes | 4.00% Senior Notes due 2026      
Debt Instrument [Line Items]      
Interest rate (as a percent)   4.00%  
Total debt   $ 0 3
Repayments of long term debt   $ 3  
Senior Notes | 2.95% Senior Notes due 2027      
Debt Instrument [Line Items]      
Interest rate (as a percent)   2.95%  
Total debt   $ 499 499
Unamortized debt discount and issuance costs   $ 1  
Senior Notes | 2.45% Senior Notes due 2027      
Debt Instrument [Line Items]      
Interest rate (as a percent)   2.45%  
Total debt   $ 1,247 1,246
Unamortized debt discount and issuance costs   $ 3  
Senior Notes | 4.75% Senior Notes due 2028      
Debt Instrument [Line Items]      
Interest rate (as a percent)   4.75%  
Total debt   $ 781 784
Senior Notes | 4.25% Senior Notes due 2029      
Debt Instrument [Line Items]      
Interest rate (as a percent)   4.25%  
Total debt   $ 988 991
Senior Notes | 2.5% Senior Notes due 2029      
Debt Instrument [Line Items]      
Interest rate (as a percent)   2.50%  
Total debt   $ 498 498
Unamortized debt discount and issuance costs   $ 2  
Senior Notes | 2.7% Sustainability-Linked Senior Notes, due 2029      
Debt Instrument [Line Items]      
Interest rate (as a percent)   2.95%  
Total debt   $ 1,241 1,241
Unamortized debt discount and issuance costs   $ 9  
Variable interest rate 0.25%    
Senior Notes | 1.25% Senior Notes due 2030      
Debt Instrument [Line Items]      
Interest rate (as a percent)   1.25%  
Total debt   $ 596 596
Unamortized debt discount and issuance costs   $ 4  
Senior Notes | 4.25% Senior Notes, due 2031      
Debt Instrument [Line Items]      
Interest rate (as a percent)   4.25%  
Total debt   $ 596 595
Unamortized debt discount and issuance costs   $ 4  
Senior Notes | 2.90% Senior Notes due 2032      
Debt Instrument [Line Items]      
Interest rate (as a percent)   2.90%  
Total debt   $ 1,480 1,480
Unamortized debt discount and issuance costs   $ 20  
Senior Notes | 5.25% Senior Notes due 2033      
Debt Instrument [Line Items]      
Interest rate (as a percent)   5.25%  
Total debt   $ 744 744
Unamortized debt discount and issuance costs   $ 6  
Senior Notes | 4.80% Senior Notes, due 2035      
Debt Instrument [Line Items]      
Interest rate (as a percent)   4.80%  
Total debt   $ 396 396
Unamortized debt discount and issuance costs   $ 4  
Senior Notes | 6.55% Senior Notes due 2037      
Debt Instrument [Line Items]      
Interest rate (as a percent)   6.55%  
Total debt   $ 291 291
Unamortized debt discount and issuance costs   $ 2  
Senior Notes | 4.5% Senior Notes due 2048      
Debt Instrument [Line Items]      
Interest rate (as a percent)   4.50%  
Total debt   $ 273 273
Unamortized debt discount and issuance costs   $ 10  
Senior Notes | 3.25% Senior Notes due 2049      
Debt Instrument [Line Items]      
Interest rate (as a percent)   3.25%  
Total debt   $ 591 591
Unamortized debt discount and issuance costs   $ 9  
Senior Notes | 3.70% Senior Notes due 2052      
Debt Instrument [Line Items]      
Interest rate (as a percent)   3.70%  
Total debt   $ 976 976
Unamortized debt discount and issuance costs   $ 24  
Senior Notes | 2.3% Senior Notes due 2060      
Debt Instrument [Line Items]      
Interest rate (as a percent)   2.30%  
Total debt   $ 683 683
Unamortized debt discount and issuance costs   $ 17  
Senior Notes | 3.9% Senior Notes due 2062      
Debt Instrument [Line Items]      
Interest rate (as a percent)   3.90%  
Total debt   $ 487 486
Unamortized debt discount and issuance costs   13  
Commercial paper      
Debt Instrument [Line Items]      
Total debt   $ 951 $ 715
v3.26.1
Debt - Narrative (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2026
USD ($)
performanceIndicator
Dec. 31, 2025
USD ($)
Dec. 17, 2024
USD ($)
Debt Instrument [Line Items]      
Long-term debt, fair value $ 11,100 $ 11,300  
Long-term debt $ 13,318 13,088  
Ratio of indebtedness to cash flow 4    
Commercial paper      
Debt Instrument [Line Items]      
Long-term debt $ 951 $ 715  
Revolving Credit Facility | Five-year Revolving Credit Facility      
Debt Instrument [Line Items]      
Commitment fee ratio 0.08%    
Line of credit facility, potential reduction In commitment fee 0.01%    
Line of credit facility, potential reduction in drawn margin 0.05%    
Revolving Credit Facility | Five-year Revolving Credit Facility | Revolving line of credit      
Debt Instrument [Line Items]      
Maximum borrowing capacity $ 2,000   $ 2,000
Credit facility term 5 years    
Number of performance indicators linked to the commitment fees | performanceIndicator 3    
v3.26.1
Derivative Instruments - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2025
Foreign exchange forward contracts        
Derivative [Line Items]        
Gain (loss) on undesignated derivative instruments $ (20) $ 49    
Designated as Hedging Instrument | Foreign exchange forward contracts        
Derivative [Line Items]        
Pre -tax loss expected to be reclassified within 12 months 15      
Designated as Hedging Instrument | Interest rate swap contracts        
Derivative [Line Items]        
Net interest income 2      
Unrealized gain on cash flow hedges     $ 155  
Fair Value Hedging | Not Designated as Hedging Instrument | Foreign exchange forward contracts        
Derivative [Line Items]        
Notional amount of derivative 1,500     $ 1,500
Fair Value Hedging | Not Designated as Hedging Instrument | Foreign exchange forward contracts | Prepaid and other current assets        
Derivative [Line Items]        
Notional amount of derivative 3     8
Fair Value Hedging | Not Designated as Hedging Instrument | Foreign exchange forward contracts | Other current liabilities        
Derivative [Line Items]        
Notional amount of derivative 15     6
Net Investment Hedges | Cross currency swaps        
Derivative [Line Items]        
Net interest income 10 $ 14    
Net Investment Hedges | Designated as Hedging Instrument | Cross currency swaps        
Derivative [Line Items]        
Notional amount of derivative 3,500     3,500
Cash Flow Hedges | Designated as Hedging Instrument | Foreign exchange forward contracts        
Derivative [Line Items]        
Notional amount of derivative $ 540     $ 574
Derivative maturity 24 months     24 months
Cash Flow Hedges | Designated as Hedging Instrument | Interest rate swap contracts        
Derivative [Line Items]        
Terminated derivative, notional amount     813  
Derivative, cash received on hedge     $ 155  
v3.26.1
Derivative Instruments - Schedule of Location and Fair Value Amounts of Cash Flow Hedges (Details) - Designated as Hedging Instrument - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Cash Flow Hedges | Foreign exchange forward contracts | Prepaid and other current assets    
Derivatives, Fair Value [Line Items]    
Derivatives $ 4 $ 5
Cash Flow Hedges | Foreign exchange forward contracts | Other current liabilities    
Derivatives, Fair Value [Line Items]    
Derivatives 21 11
Net Investment Hedges | Cross currency swaps | Other non-current liabilities    
Derivatives, Fair Value [Line Items]    
Derivatives $ 205 $ 294
v3.26.1
Derivative Instruments - Schedule of Pre-tax Gains (Losses) on Cash Flow Hedges (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion) $ (9) $ 4
Designated as Hedging Instrument | Foreign exchange forward contracts | Cash Flow Hedges    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion) (8) 5
Designated as Hedging Instrument | Foreign exchange forward contracts | Cash Flow Hedges | Revenue, Selling and general expenses    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (effective portion) (2) 1
Designated as Hedging Instrument | Interest rate swap contracts | Cash Flow Hedges    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion) (2) 0
Designated as Hedging Instrument | Interest rate swap contracts | Cash Flow Hedges | Interest expense, net    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (effective portion) 2 0
Designated as Hedging Instrument | Cross currency swaps | Net Investment Hedges    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion) 88 (77)
Designated as Hedging Instrument | Cross currency swaps | Net Investment Hedges | Interest expense, net    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (effective portion) $ (1) $ (1)
v3.26.1
Derivative Instruments - Schedule of Cash Flow Hedges included in AOCI (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning balance $ 31,235 $ 33,256
Ending balance 31,288 33,473
Unrealized Gain (Loss) on Cash Flow Hedges    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning balance 92  
Change in fair value, net of tax (10)  
Reclassification into earnings, net of tax 1  
Ending balance 83  
Foreign Currency Translation Adjustments    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning balance (403)  
Change in fair value, net of tax (33)  
Reclassification into earnings, net of tax 1  
Ending balance (435)  
Cash Flow Hedges | Unrealized Gain (Loss) on Cash Flow Hedges | Foreign exchange forward contracts    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning balance (5) 1
Change in fair value, net of tax (9) 5
Reclassification into earnings, net of tax 2 (1)
Ending balance (12) 5
Cash Flow Hedges | Unrealized Gain (Loss) on Cash Flow Hedges | Interest rate swap contracts    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning balance 99 99
Change in fair value, net of tax (1) 0
Reclassification into earnings, net of tax (2) 0
Ending balance 96 99
Net Investment Hedges | Foreign Currency Translation Adjustments    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning balance (234) 33
Change in fair value, net of tax 69 (59)
Reclassification into earnings, net of tax 1 1
Ending balance $ (164) $ (25)
v3.26.1
Employee Benefits - Schedule of Net Periodic Benefit Cost (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Retirement Benefits [Abstract]    
Interest cost $ 17 $ 17
Expected return on assets (23) (24)
Amortization of prior service credit / actuarial loss 2 1
Net periodic benefit cost $ (4) $ (6)
v3.26.1
Employee Benefits - Narrative (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2026
USD ($)
Retirement Benefits [Abstract]  
Contribution towards retirement plans $ 3
Expected contributions towards retirement plans, remainder of the year $ 8
v3.26.1
Stock-Based Compensation (Details) - Restricted Stock and Unit Awards - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Stock-based compensation expense $ 39 $ 47
Restricted stock and unit awards granted in period (shares) 0.5  
Weighted-average grant fate fair value (USD per share) $ 443.23  
Unrecognized compensation expense $ 318  
Weighted average recognition period 1 year 9 months 18 days  
v3.26.1
Equity - Dividends (Details) - $ / shares
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Equity [Abstract]    
Dividends declared per common share (USD per share) $ 0.97 $ 0.96
v3.26.1
Equity - Stock Repurchases (Details)
$ in Millions
 1 Months Ended 3 Months Ended
Feb. 28, 2026
shares
Feb. 28, 2025
shares
Mar. 31, 2026
USD ($)
transaction
shares
Mar. 31, 2025
USD ($)
shares
Dec. 31, 2025
USD ($)
Nov. 13, 2025
shares
Jun. 22, 2022
shares
Equity, Class of Treasury Stock [Line Items]              
ARS agreement transactions | transaction     2        
Excise tax, payable | $     $ 58   $ 46    
Shares delivered and purchased (shares)     3,100,000 1,300,000      
Stock repurchased during period (in shares)     2,300,000 1,000,000.0      
Total cash utilized | $     $ 1,000 $ 650      
Uncapped ASR, December 4 2025              
Equity, Class of Treasury Stock [Line Items]              
Shares delivered and purchased (shares) 800,000            
Uncapped ASR, October 28, 2024              
Equity, Class of Treasury Stock [Line Items]              
Shares delivered and purchased (shares)   300,000          
2025 Repurchase Program              
Equity, Class of Treasury Stock [Line Items]              
Shares authorized to be repurchased (in shares)           30,000,000  
Shares authorized for repurchase, compared to total common stock outstanding (as a percent)           10.00%  
Remaining shares available under repurchase program (shares)     29,600,000        
2022 Repurchase Program              
Equity, Class of Treasury Stock [Line Items]              
Shares authorized to be repurchased (in shares)             30,000,000
Shares authorized for repurchase, compared to total common stock outstanding (as a percent)             9.00%
v3.26.1
Equity - Schedule of Accelerated Share Repurchase Agreements (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 1 Months Ended 3 Months Ended
Mar. 12, 2026
Feb. 12, 2026
May 06, 2025
Feb. 19, 2025
Mar. 12, 2026
Mar. 31, 2026
May 06, 2025
Mar. 31, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Shares delivered and purchased (shares)           3.1   1.3
Total Cash Utilized           $ 1,000   $ 650
Uncapped ASR, February 12, 2026                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Shares delivered and purchased (shares) 0.3 2.0            
Average price paid per share (USD per share)         $ 426.70      
Total Cash Utilized   $ 1,000     $ 1,000      
Accelerated share repurchases initial delivery percentage (as a percent)   80.00%            
Uncapped ASR, February 12, 2026 | Initial Shares Delivered                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Shares delivered and purchased (shares)   2.0            
Uncapped ASR, February 12, 2026 | Additional Shares Delivered                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Shares delivered and purchased (shares)         0.3      
Uncapped ASR, February 12, 2026 | Total Number of Shares Purchased                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Shares delivered and purchased (shares)         2.3      
Uncapped ASR, February 19, 2025                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Shares delivered and purchased (shares)     0.3 1.0        
Average price paid per share (USD per share)             $ 491.12  
Total Cash Utilized       $ 650     $ 650  
Accelerated share repurchases initial delivery percentage (as a percent)       80.00%        
Uncapped ASR, February 19, 2025 | Initial Shares Delivered                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Shares delivered and purchased (shares)       1.0        
Uncapped ASR, February 19, 2025 | Additional Shares Delivered                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Shares delivered and purchased (shares)             0.3  
Uncapped ASR, February 19, 2025 | Total Number of Shares Purchased                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Shares delivered and purchased (shares)             1.3  
v3.26.1
Equity - Redeemable Noncontrolling Interests (Details)
 3 Months Ended
Mar. 31, 2026
Noncontrolling Interest [Line Items]  
Minimum interest in joint venture (as a percent) 20.00%
Agreement terms, change of control, put option for minority interest ownership, effective period 15 days
CME Group  
Noncontrolling Interest [Line Items]  
Noncontrolling interest ownership by noncontrolling owners (as a percent) 27.00%
v3.26.1
Equity - Schedule of Redeemable Noncontrolling Interest (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2026
USD ($)
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]  
Balance at beginning of period $ 4,917
Net income attributable to redeemable noncontrolling interests 100
Distributions payable to redeemable noncontrolling interests (61)
Redemption value adjustment (31)
Other (8)
Balance at end of period 4,917
Indices  
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]  
Balance at end of period $ 4,914
v3.26.1
Equity - Schedule of Changes in the Components of Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning balance $ 31,235 $ 33,256
Ending balance 31,288 33,473
Actuarial losses, tax expense (less than) 0 0
Accumulated Other Comprehensive Loss    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning balance (697) (883)
Other comprehensive income (loss) before reclassifications (43)  
Reclassifications from accumulated other comprehensive income (loss) to net earnings 4  
Net other comprehensive income (39)  
Ending balance (736) $ (826)
Foreign Currency Translation Adjustments    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning balance (403)  
Other comprehensive income (loss) before reclassifications (33)  
Reclassifications from accumulated other comprehensive income (loss) to net earnings 1  
Net other comprehensive income (32)  
Ending balance (435)  
Pension and Postretirement Benefit Plans    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning balance (386)  
Other comprehensive income (loss) before reclassifications 0  
Reclassifications from accumulated other comprehensive income (loss) to net earnings 2  
Net other comprehensive income 2  
Ending balance (384)  
Actuarial losses, tax expense (less than) 1  
Unrealized Gain (Loss) on Cash Flow Hedges    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning balance 92  
Other comprehensive income (loss) before reclassifications (10)  
Reclassifications from accumulated other comprehensive income (loss) to net earnings 1  
Net other comprehensive income (9)  
Ending balance $ 83  
v3.26.1
Earnings Per Share (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Amounts attributable to S&P Global Inc. common shareholders:    
Net income $ 1,395 $ 1,090
Basic weighted-average number of common shares outstanding (shares) 297,300,000 307,300,000
Effect of dilutive securities (shares) 300,000 400,000
Diluted weighted-average number of common shares outstanding (shares) 297,600,000 307,700,000
Net income:    
Basic (USD per share) $ 4.69 $ 3.55
Diluted (USD per share) $ 4.69 $ 3.54
Stock Options    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive shares excluded from computation of diluted earnings (shares) 0 0
Restricted Stock and Unit Awards    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive shares excluded from computation of diluted earnings (shares) 500,000 700,000
v3.26.1
Restructuring - Narrative (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2026
USD ($)
position
Dec. 31, 2025
USD ($)
2025 Restructuring Plan    
Restructuring Cost and Reserve [Line Items]    
Workforce reduction | position 1,300  
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration] Selling, General and Administrative Expense  
Restructuring reserve balance $ 49 $ 85
Reductions to restructuring reserve 36  
2024 Restructuring Plan    
Restructuring Cost and Reserve [Line Items]    
Restructuring reserve balance $ 4 $ 15
v3.26.1
Restructuring - Schedule of Initial Restructuring Charge Recorded and the Ending Reserve Balance (Details) - 2025 Restructuring Plan - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Restructuring Cost and Reserve [Line Items]    
Initial Charge Recorded $ 157  
Ending Reserve Balance 49 $ 85
Operating Segments | Market Intelligence    
Restructuring Cost and Reserve [Line Items]    
Initial Charge Recorded 56  
Ending Reserve Balance 12  
Operating Segments | Ratings    
Restructuring Cost and Reserve [Line Items]    
Initial Charge Recorded 17  
Ending Reserve Balance 3  
Operating Segments | Energy    
Restructuring Cost and Reserve [Line Items]    
Initial Charge Recorded 19  
Ending Reserve Balance 8  
Operating Segments | Mobility    
Restructuring Cost and Reserve [Line Items]    
Initial Charge Recorded 15  
Ending Reserve Balance 7  
Operating Segments | Indices    
Restructuring Cost and Reserve [Line Items]    
Initial Charge Recorded 4  
Ending Reserve Balance 3  
Corporate    
Restructuring Cost and Reserve [Line Items]    
Initial Charge Recorded 46  
Ending Reserve Balance $ 16  
v3.26.1
Segment and Related Information - Narrative (Details) - 3 months ended Mar. 31, 2026
segment
Segment
Segment Reporting [Abstract]    
Number of reportable segments 5 5
v3.26.1
Segment and Related Information - Schedule of Operating Results (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Disaggregation of Revenue [Line Items]    
Revenue $ 4,171 $ 3,777
Operating profit 2,002 1,578
Equity in income on unconsolidated subsidiaries 0 (11)
Other (income) expense, net (2) 4
Interest expense, net 96 78
Income before taxes on income 1,908 1,496
Services transferred at a point in time    
Disaggregation of Revenue [Line Items]    
Revenue 978 850
Services transferred over time    
Disaggregation of Revenue [Line Items]    
Revenue 3,193 2,927
Subscription    
Disaggregation of Revenue [Line Items]    
Revenue 2,014 1,898
Non-subscription / Transaction    
Disaggregation of Revenue [Line Items]    
Revenue 978 850
Non-transaction    
Disaggregation of Revenue [Line Items]    
Revenue 538 481
Asset-linked fees    
Disaggregation of Revenue [Line Items]    
Revenue 339 288
Sales usage-based royalties    
Disaggregation of Revenue [Line Items]    
Revenue 133 110
Recurring variable revenue    
Disaggregation of Revenue [Line Items]    
Revenue 169 150
Reportable Legal Entities    
Disaggregation of Revenue [Line Items]    
Revenue 4,223 3,825
Significant expenses 2,018 1,890
Less: other segment items 132 302
Reportable Legal Entities | Market Intelligence    
Disaggregation of Revenue [Line Items]    
Revenue 1,296 1,199
Significant expenses 860 805
Less: other segment items (4) 174
Reportable Legal Entities | Market Intelligence | Services transferred at a point in time    
Disaggregation of Revenue [Line Items]    
Revenue 75 56
Reportable Legal Entities | Market Intelligence | Services transferred over time    
Disaggregation of Revenue [Line Items]    
Revenue 1,221 1,143
Reportable Legal Entities | Ratings    
Disaggregation of Revenue [Line Items]    
Revenue 1,302 1,149
Significant expenses 420 388
Less: other segment items 1 4
Reportable Legal Entities | Ratings | Services transferred at a point in time    
Disaggregation of Revenue [Line Items]    
Revenue 712 620
Reportable Legal Entities | Ratings | Services transferred over time    
Disaggregation of Revenue [Line Items]    
Revenue 590 529
Reportable Legal Entities | Energy    
Disaggregation of Revenue [Line Items]    
Revenue 652 612
Significant expenses 330 318
Less: other segment items 35 39
Reportable Legal Entities | Energy | Services transferred at a point in time    
Disaggregation of Revenue [Line Items]    
Revenue 109 97
Reportable Legal Entities | Energy | Services transferred over time    
Disaggregation of Revenue [Line Items]    
Revenue 543 515
Reportable Legal Entities | Mobility    
Disaggregation of Revenue [Line Items]    
Revenue 454 420
Significant expenses 272 258
Less: other segment items 89 76
Reportable Legal Entities | Mobility | Services transferred at a point in time    
Disaggregation of Revenue [Line Items]    
Revenue 82 77
Reportable Legal Entities | Mobility | Services transferred over time    
Disaggregation of Revenue [Line Items]    
Revenue 372 343
Reportable Legal Entities | Indices    
Disaggregation of Revenue [Line Items]    
Revenue 519 445
Significant expenses 136 121
Less: other segment items 11 9
Reportable Legal Entities | Indices | Services transferred at a point in time    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Indices | Services transferred over time    
Disaggregation of Revenue [Line Items]    
Revenue 519 445
Reportable Legal Entities | Subscription | Market Intelligence    
Disaggregation of Revenue [Line Items]    
Revenue 1,052 993
Reportable Legal Entities | Subscription | Ratings    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Subscription | Energy    
Disaggregation of Revenue [Line Items]    
Revenue 506 486
Reportable Legal Entities | Subscription | Mobility    
Disaggregation of Revenue [Line Items]    
Revenue 372 343
Reportable Legal Entities | Subscription | Indices    
Disaggregation of Revenue [Line Items]    
Revenue 84 76
Reportable Legal Entities | Non-subscription / Transaction | Market Intelligence    
Disaggregation of Revenue [Line Items]    
Revenue 75 56
Reportable Legal Entities | Non-subscription / Transaction | Ratings    
Disaggregation of Revenue [Line Items]    
Revenue 712 620
Reportable Legal Entities | Non-subscription / Transaction | Energy    
Disaggregation of Revenue [Line Items]    
Revenue 109 97
Reportable Legal Entities | Non-subscription / Transaction | Mobility    
Disaggregation of Revenue [Line Items]    
Revenue 82 77
Reportable Legal Entities | Non-subscription / Transaction | Indices    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Non-transaction | Market Intelligence    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Non-transaction | Ratings    
Disaggregation of Revenue [Line Items]    
Revenue 590 529
Reportable Legal Entities | Non-transaction | Energy    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Non-transaction | Mobility    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Non-transaction | Indices    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Asset-linked fees | Market Intelligence    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Asset-linked fees | Ratings    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Asset-linked fees | Energy    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Asset-linked fees | Mobility    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Asset-linked fees | Indices    
Disaggregation of Revenue [Line Items]    
Revenue 339 288
Reportable Legal Entities | Sales usage-based royalties | Market Intelligence    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Sales usage-based royalties | Ratings    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Sales usage-based royalties | Energy    
Disaggregation of Revenue [Line Items]    
Revenue 37 29
Reportable Legal Entities | Sales usage-based royalties | Mobility    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Sales usage-based royalties | Indices    
Disaggregation of Revenue [Line Items]    
Revenue 96 81
Reportable Legal Entities | Recurring variable revenue | Market Intelligence    
Disaggregation of Revenue [Line Items]    
Revenue 169 150
Reportable Legal Entities | Recurring variable revenue | Ratings    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Recurring variable revenue | Energy    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Recurring variable revenue | Mobility    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Recurring variable revenue | Indices    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Operating Segments    
Disaggregation of Revenue [Line Items]    
Revenue 4,171 3,777
Operating profit 2,073 1,633
Operating Segments | Market Intelligence    
Disaggregation of Revenue [Line Items]    
Revenue 1,292 1,196
Operating profit 440 220
Operating Segments | Ratings    
Disaggregation of Revenue [Line Items]    
Revenue 1,257 1,107
Operating profit 881 757
Operating Segments | Energy    
Disaggregation of Revenue [Line Items]    
Revenue 652 612
Operating profit 287 255
Operating Segments | Mobility    
Disaggregation of Revenue [Line Items]    
Revenue 454 420
Operating profit 93 86
Operating Segments | Indices    
Disaggregation of Revenue [Line Items]    
Revenue 516 442
Operating profit 372 315
Intersegment Elimination    
Disaggregation of Revenue [Line Items]    
Revenue (52) (48)
Less: other segment items (52) (48)
Intersegment Elimination | Services transferred at a point in time    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Intersegment Elimination | Services transferred over time    
Disaggregation of Revenue [Line Items]    
Revenue (52) (48)
Intersegment Elimination | Market Intelligence    
Disaggregation of Revenue [Line Items]    
Revenue (4) (3)
Intersegment Elimination | Ratings    
Disaggregation of Revenue [Line Items]    
Revenue (45) (42)
Intersegment Elimination | Energy    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Intersegment Elimination | Mobility    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Intersegment Elimination | Indices    
Disaggregation of Revenue [Line Items]    
Revenue (3) (3)
Intersegment Elimination | Subscription    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Intersegment Elimination | Non-subscription / Transaction    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Intersegment Elimination | Non-transaction    
Disaggregation of Revenue [Line Items]    
Revenue (52) (48)
Intersegment Elimination | Asset-linked fees    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Intersegment Elimination | Sales usage-based royalties    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Intersegment Elimination | Recurring variable revenue    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Corporate Unallocated    
Disaggregation of Revenue [Line Items]    
Operating profit $ 71 $ 66
v3.26.1
Segment and Related Information - Schedule of Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Disaggregation of Revenue [Line Items]    
Revenue $ 4,171 $ 3,777
Services transferred at a point in time    
Disaggregation of Revenue [Line Items]    
Revenue 978 850
Services transferred over time    
Disaggregation of Revenue [Line Items]    
Revenue 3,193 2,927
Subscription    
Disaggregation of Revenue [Line Items]    
Revenue 2,014 1,898
Non-subscription / Transaction    
Disaggregation of Revenue [Line Items]    
Revenue 978 850
Non-transaction    
Disaggregation of Revenue [Line Items]    
Revenue 538 481
Asset-linked fees    
Disaggregation of Revenue [Line Items]    
Revenue 339 288
Sales usage-based royalties    
Disaggregation of Revenue [Line Items]    
Revenue 133 110
Recurring variable revenue    
Disaggregation of Revenue [Line Items]    
Revenue 169 150
Reportable Legal Entities    
Disaggregation of Revenue [Line Items]    
Revenue 4,223 3,825
Reportable Legal Entities | Market Intelligence    
Disaggregation of Revenue [Line Items]    
Revenue 1,296 1,199
Reportable Legal Entities | Market Intelligence | Services transferred at a point in time    
Disaggregation of Revenue [Line Items]    
Revenue 75 56
Reportable Legal Entities | Market Intelligence | Services transferred over time    
Disaggregation of Revenue [Line Items]    
Revenue 1,221 1,143
Reportable Legal Entities | Market Intelligence | Subscription    
Disaggregation of Revenue [Line Items]    
Revenue 1,052 993
Reportable Legal Entities | Market Intelligence | Non-subscription / Transaction    
Disaggregation of Revenue [Line Items]    
Revenue 75 56
Reportable Legal Entities | Market Intelligence | Non-transaction    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Market Intelligence | Asset-linked fees    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Market Intelligence | Sales usage-based royalties    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Market Intelligence | Recurring variable revenue    
Disaggregation of Revenue [Line Items]    
Revenue 169 150
Reportable Legal Entities | Ratings    
Disaggregation of Revenue [Line Items]    
Revenue 1,302 1,149
Reportable Legal Entities | Ratings | Services transferred at a point in time    
Disaggregation of Revenue [Line Items]    
Revenue 712 620
Reportable Legal Entities | Ratings | Services transferred over time    
Disaggregation of Revenue [Line Items]    
Revenue 590 529
Reportable Legal Entities | Ratings | Subscription    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Ratings | Non-subscription / Transaction    
Disaggregation of Revenue [Line Items]    
Revenue 712 620
Reportable Legal Entities | Ratings | Non-transaction    
Disaggregation of Revenue [Line Items]    
Revenue 590 529
Reportable Legal Entities | Ratings | Asset-linked fees    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Ratings | Sales usage-based royalties    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Ratings | Recurring variable revenue    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Energy    
Disaggregation of Revenue [Line Items]    
Revenue 652 612
Reportable Legal Entities | Energy | Services transferred at a point in time    
Disaggregation of Revenue [Line Items]    
Revenue 109 97
Reportable Legal Entities | Energy | Services transferred over time    
Disaggregation of Revenue [Line Items]    
Revenue 543 515
Reportable Legal Entities | Energy | Subscription    
Disaggregation of Revenue [Line Items]    
Revenue 506 486
Reportable Legal Entities | Energy | Non-subscription / Transaction    
Disaggregation of Revenue [Line Items]    
Revenue 109 97
Reportable Legal Entities | Energy | Non-transaction    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Energy | Asset-linked fees    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Energy | Sales usage-based royalties    
Disaggregation of Revenue [Line Items]    
Revenue 37 29
Reportable Legal Entities | Energy | Recurring variable revenue    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Mobility    
Disaggregation of Revenue [Line Items]    
Revenue 454 420
Reportable Legal Entities | Mobility | Services transferred at a point in time    
Disaggregation of Revenue [Line Items]    
Revenue 82 77
Reportable Legal Entities | Mobility | Services transferred over time    
Disaggregation of Revenue [Line Items]    
Revenue 372 343
Reportable Legal Entities | Mobility | Subscription    
Disaggregation of Revenue [Line Items]    
Revenue 372 343
Reportable Legal Entities | Mobility | Non-subscription / Transaction    
Disaggregation of Revenue [Line Items]    
Revenue 82 77
Reportable Legal Entities | Mobility | Non-transaction    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Mobility | Asset-linked fees    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Mobility | Sales usage-based royalties    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Mobility | Recurring variable revenue    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Indices    
Disaggregation of Revenue [Line Items]    
Revenue 519 445
Reportable Legal Entities | Indices | Services transferred at a point in time    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Indices | Services transferred over time    
Disaggregation of Revenue [Line Items]    
Revenue 519 445
Reportable Legal Entities | Indices | Subscription    
Disaggregation of Revenue [Line Items]    
Revenue 84 76
Reportable Legal Entities | Indices | Non-subscription / Transaction    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Indices | Non-transaction    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Reportable Legal Entities | Indices | Asset-linked fees    
Disaggregation of Revenue [Line Items]    
Revenue 339 288
Reportable Legal Entities | Indices | Sales usage-based royalties    
Disaggregation of Revenue [Line Items]    
Revenue 96 81
Reportable Legal Entities | Indices | Recurring variable revenue    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Intersegment Elimination    
Disaggregation of Revenue [Line Items]    
Revenue (52) (48)
Intersegment Elimination | Services transferred at a point in time    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Intersegment Elimination | Services transferred over time    
Disaggregation of Revenue [Line Items]    
Revenue (52) (48)
Intersegment Elimination | Subscription    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Intersegment Elimination | Non-subscription / Transaction    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Intersegment Elimination | Non-transaction    
Disaggregation of Revenue [Line Items]    
Revenue (52) (48)
Intersegment Elimination | Asset-linked fees    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Intersegment Elimination | Sales usage-based royalties    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Intersegment Elimination | Recurring variable revenue    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Intersegment Elimination | Market Intelligence    
Disaggregation of Revenue [Line Items]    
Revenue (4) (3)
Intersegment Elimination | Ratings    
Disaggregation of Revenue [Line Items]    
Revenue (45) (42)
Intersegment Elimination | Energy    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Intersegment Elimination | Mobility    
Disaggregation of Revenue [Line Items]    
Revenue 0 0
Intersegment Elimination | Indices    
Disaggregation of Revenue [Line Items]    
Revenue $ (3) $ (3)
v3.26.1
Segment and Related Information - Schedule of Segment Information (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Segment Reporting Information [Line Items]    
Total assets $ 60,792 $ 61,200
Assets held for sale 128 196
Operating Segments    
Segment Reporting Information [Line Items]    
Total assets 57,036 57,266
Operating Segments | Market Intelligence    
Segment Reporting Information [Line Items]    
Total assets 30,975 31,234
Operating Segments | Ratings    
Segment Reporting Information [Line Items]    
Total assets 1,294 1,137
Operating Segments | Energy    
Segment Reporting Information [Line Items]    
Total assets 8,425 8,543
Operating Segments | Mobility    
Segment Reporting Information [Line Items]    
Total assets 12,905 12,974
Operating Segments | Indices    
Segment Reporting Information [Line Items]    
Total assets 3,437 3,378
Corporate    
Segment Reporting Information [Line Items]    
Total assets $ 3,628 $ 3,738
v3.26.1
Segment and Related Information - Schedule of Geographic Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenues from External Customers and Long-Lived Assets [Line Items]    
Revenue $ 4,171 $ 3,777
U.S.    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Revenue 2,625 2,342
European region    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Revenue 895 849
Asia    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Revenue 430 382
Rest of the world    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Revenue $ 221 $ 204
v3.26.1
Commitments and Contingencies - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Loss Contingencies [Line Items]    
Option to extend lease period (in years) 12 years  
Total estimated future lease payments $ 98  
Revenue $ 4,171 $ 3,777
CME Group    
Loss Contingencies [Line Items]    
Noncontrolling interest ownership by noncontrolling owners (as a percent) 27.00%  
S&P DJ Indices | CME Group    
Loss Contingencies [Line Items]    
Noncontrolling interest ownership by noncontrolling owners (as a percent) 27.00%  
S&P DJ Indices | Related Party    
Loss Contingencies [Line Items]    
Revenue $ 52 $ 52
Minimum    
Loss Contingencies [Line Items]    
Remaining lease terms 1 year  
Lease term (in years) 1 year  
Maximum    
Loss Contingencies [Line Items]    
Remaining lease terms 11 years  
Lease term (in years) 11 years  
v3.26.1
Commitments and Contingencies - Schedule of Location and Amounts of Leases (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Assets    
Lease right of use assets $ 388 $ 413
Liabilities    
Operating lease, liability, current, statement of financial position [Extensible List] Other Liabilities, Current Other Liabilities, Current
Current lease liabilities $ 124 $ 124
Non-current lease liabilities $ 458 $ 494
v3.26.1
Commitments and Contingencies - Schedule of Components of Lease Expense (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Commitments and Contingencies Disclosure [Abstract]    
Operating lease cost $ 28 $ 31
Sublease income (5) (3)
Total lease cost $ 23 $ 28
v3.26.1
Commitments and Contingencies - Schedule of Supplemental Cash Flow Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash paid for amounts included in the measurement for operating lease liabilities    
Operating cash flows for operating leases $ 37 $ 36
Right of use assets obtained in exchange for lease obligations    
Operating leases $ 14 $ 20
v3.26.1
Commitments and Contingencies - Schedule of Lease Term and Discount Rate (Details)
Mar. 31, 2026
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]    
Weighted-average remaining lease term (years) 4 years 9 months 18 days 5 years 3 months 18 days
Weighted-average discount rate 4.24% 4.25%
v3.26.1
Commitments and Contingencies - Schedule of Maturities of Operating Lease Liabilities (Details)
$ in Millions
Mar. 31, 2026
USD ($)
Commitments and Contingencies Disclosure [Abstract]  
2026 (Excluding the three months ended March 31, 2026) $ 110
2027 135
2028 109
2029 88
2030 65
2031 and beyond 148
Total undiscounted lease payments 655
Less: Imputed interest 73
Present value of lease liabilities $ 582