Document and Entity Information - shares shares in Millions	6 Months Ended
Document and Entity Information - shares shares in Millions	Jun. 30, 2017	Jul. 21, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	S&P Global Inc.
Entity Central Index Key	0000064040
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Amendment Flag	false
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		257.0

Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Statement [Abstract]
Revenue	$ 1,509	$ 1,482	$ 2,962	$ 2,823
Expenses:
Operating-related expenses	449	469	861	923
Selling and general expenses	338	317	689	650
Depreciation	20	22	39	40
Amortization of intangibles	25	23	49	47
Total expenses	832	831	1,638	1,660
Operating profit	677	651	1,324	1,163
Interest expense, net	37	42	74	83
Income before taxes on income	640	609	1,250	1,080
Provision for taxes on income	183	197	363	345
Net income	457	412	887	735
Less: net income attributable to noncontrolling interests	(36)	(29)	(67)	(58)
Net income attributable to S&P Global Inc.	$ 421	$ 383	$ 820	$ 677
Net income:
Basic (in dollars per share)	$ 1.63	$ 1.45	$ 3.18	$ 2.56
Diluted (in dollars per share)	$ 1.62	$ 1.44	$ 3.15	$ 2.54
Weighted-average number of common shares outstanding:
Basic (in shares)	257.3	264.5	257.7	264.7
Diluted (in shares)	259.9	266.7	260.4	267.0
Actual shares outstanding at period end (in shares)			257.0	263.9
Dividend declared per common share (in dollars per share)	$ 0.41	$ 0.36	$ 0.82	$ 0.72

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 457	$ 412	$ 887	$ 735
Other comprehensive income:
Foreign currency translation adjustment	42	(54)	72	(40)
Income tax effect	0	(1)	0	(1)
Foreign currency translation adjustment, net of income tax effect	42	(55)	72	(41)
Pension and other postretirement benefit plans	0	12	4	16
Income tax effect	2	(3)	1	(4)
Pension and other post-retirement benefit plans, net of income tax effect	2	9	5	12
Unrealized (loss) gain on investment and forward exchange contracts	(10)	(1)	(3)	3
Income tax effect	2	0	0	(1)
Unrealized gain (loss) on forward exchange contracts, net of income tax effect	(8)	(1)	(3)	2
Comprehensive income	493	365	961	708
Less: comprehensive income attributable to nonredeemable noncontrolling interests	(5)	(2)	(6)	(5)
Less: comprehensive income attributable to redeemable noncontrolling interests	(31)	(27)	(61)	(53)
Comprehensive income attributable to S&P Global Inc.	$ 457	$ 336	$ 894	$ 650

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 2,384	$ 2,392
Accounts receivable, net of allowance for doubtful accounts: 2017 - $32; 2016 - $28	1,166	1,122
Prepaid and other current assets	173	157
Total current assets	3,723	3,671
Property and equipment, net of accumulated depreciation: 2017 - $532; 2016 - $537	264	271
Goodwill	2,982	2,949
Other intangible assets, net	1,442	1,506
Other non-current assets	380	272
Total assets	8,791	8,669
Current liabilities:
Accounts payable	162	183
Accrued compensation and contributions to retirement plans	294	409
Income taxes currently payable	79	95
Unearned revenue	1,502	1,509
Other current liabilities	325	415
Total current liabilities	2,362	2,611
Long-term debt	3,566	3,564
Pension and other postretirement benefits	269	274
Other non-current liabilities	414	439
Total liabilities	6,611	6,888
Redeemable noncontrolling interest (Note 8)	1,107	1,080
Commitments and contingencies (Note 12)
Equity:
Common stock	412	412
Additional paid-in capital	490	502
Retained income	9,816	9,210
Accumulated other comprehensive loss	(699)	(773)
Less: common stock in treasury	(9,000)	(8,701)
Total equity — controlling interests	1,019	650
Total equity — noncontrolling interests	54	51
Total equity	1,073	701
Total liabilities and equity	$ 8,791	$ 8,669

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 32	$ 28
Accumulated depreciation	$ 532	$ 537

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Operating Activities:
Net income	$ 887	$ 735
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	39	40
Amortization of intangibles	49	47
Provision for losses on accounts receivable	13	8
Stock-based compensation	41	34
Other	26	43
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable	(49)	(39)
Prepaid and other current assets	(13)	(14)
Accounts payable and accrued expenses	(139)	(171)
Unearned revenue	(17)	38
Accrued legal settlements	(4)	(108)
Other current liabilities	(85)	(21)
Net change in prepaid/accrued income taxes	(45)	92
Net change in other assets and liabilities	(29)	(44)
Cash provided by operating activities	674	640
Investing Activities:
Capital expenditures	(56)	(36)
Acquisitions, net of cash acquired	(70)	(52)
Proceeds from dispositions	2	0
Cash used for investing activities	(124)	(88)
Financing Activities:
Additions to short-term debt, net	0	166
Dividends paid to shareholders	(212)	(191)
Distributions to noncontrolling interest holders	(54)	(57)
Repurchase of treasury shares	(346)	(373)
Exercise of stock options	38	65
Employee withholding tax on share-based payments	(44)	(50)
Cash used for financing activities	(618)	(440)
Effect of exchange rate changes on cash from continuing operations	60	(26)
Net change in cash and cash equivalents	(8)	86
Cash and cash equivalents at beginning of period	2,392	1,481
Cash and cash equivalents at end of period	$ 2,384	$ 1,567

Consolidated Statement of Equity (Unaudited) - 6 months ended Jun. 30, 2017 - USD ($)
$ in Millions

Total

Common Stock $1 par

Additional Paid-in Capital

Retained Income

Accumulated Other Comprehensive Loss

Less: Treasury Stock

Total SPGI Equity

Noncontrolling Interests

Balance as of December 31, 2016 at Dec. 31, 2016

$ 701

$ 412

$ 502

$ 9,210

$ (773)

$ 8,701

$ 650

$ 51

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Comprehensive income 1

^[1]

900

820

74

894

6

Dividends

(218)

(212)

(6)

Share repurchases

(346)

346

(346)

Employee stock plans

35

(12)

(47)

35

Change in redemption value of redeemable noncontrolling interest

(2)

Other

3

Balance as of June 30, 2017 at Jun. 30, 2017

$ 1,073

$ 412

$ 490

$ 9,816

$ (699)

$ 9,000

$ 1,019

$ 54

[1]	Excludes $61 million attributable to our redeemable noncontrolling interest.

Consolidated Statement of Equity (Unaudited) (Parenthetical) $ in Millions	6 Months Ended
	Jun. 30, 2017 USD ($)
Statement of Stockholders' Equity [Abstract]
Net income attributable to noncontrolling interest	$ (61)

Nature of Operations and Basis of Presentation

6 Months Ended

Jun. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

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 leading provider of transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets worldwide.

Our operations consist of three reportable segments: Ratings, Market and Commodities Intelligence and S&P Dow Jones Indices ("Indices").


•	Ratings is an independent provider of credit ratings, research, and analytics, offering investors and other market participants information, ratings and benchmarks.

•

Market and Commodities Intelligence is a global provider of multi-asset-class data, research and analytical capabilities, which integrate cross-asset analytics and desktop services and deliver their customers in the commodity and energy markets access to high-value information, data, analytic services and pricing and quality benchmarks. On September 7, 2016, we completed the sale of J.D. Power with the results included in Market and Commodities Intelligence results through that date.


•	Indices is a global index provider that maintains a wide variety of valuation and index benchmarks for investment advisors, wealth managers and institutional investors.

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 footnotes 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, 2016 (our “Form 10-K”). Certain prior-year amounts have been reclassified to conform with current presentation.

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 and six months ended June 30, 2017 are not necessarily indicative of the results that may be expected for the full year.

Our critical accounting estimates are disclosed in Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, in our Form 10-K. On an ongoing basis, we evaluate our estimates and assumptions, including those related to revenue recognition, 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.

Acquisitions and Divestitures

6 Months Ended

Jun. 30, 2017

Business Combinations [Abstract]

Acquisitions and Divestitures

Acquisitions

In June of 2017, CRISIL, included within our Ratings segment, acquired 8.9% of the outstanding shares of CARE Ratings Limited ("CARE") from Canara Bank. CARE is a Securities and Exchange Board of India registered credit rating agency providing various rating and grading services in India whose shares are publicly traded on both the Bombay Stock Exchange and the National Stock Exchange of India. We accounted for the investment in CARE as available-for-sale using the fair value method of accounting. The investment balance as of June 30,2017 of $65 million is included in other non-current assets in our consolidated balance sheet. The investment in CARE is not material to our consolidated financial statements.

In June of 2016, Ratings acquired a 49% equity investment in Thailand's TRIS Rating Company Limited from its parent company, TRIS Corporation Limited. The transaction extends an existing association between Ratings and TRIS Rating and deepens their commitment to capital markets in Thailand. We accounted for the acquisition of TRIS Rating Company using the equity method of accounting. The equity investment in TRIS Rating is not material to our consolidated financial statements.

In June of 2016, Market and Commodities Intelligence acquired RigData, a provider of daily information on rig activity for the natural gas and oil markets across North America. The purchase enhances Market and Commodities Intelligence's energy analytical capabilities by strengthening its position in natural gas and enhancing its oil offering. We accounted for the acquisition of RigData using the purchase method of accounting. The acquisition of RigData is not material to our consolidated financial statements.

In March of 2016, Market and Commodities Intelligence acquired Commodity Flow, a specialist technology and business intelligence service for the global waterborne commodity and energy markets. The purchase helps extend Market and Commodities Intelligence's trade flow analytical capabilities and complements its existing shipping services. We accounted for the acquisition of Commodity Flow using the purchase method of accounting. The acquisition of Commodity Flow is not material to our consolidated financial statements.

Divestitures

In April of 2017, we signed a letter of intent to sell our facility at East Windsor, New Jersey. The fixed assets of the facility of $5 million have been classified as held for sale, which is included in prepaid and other current assets in our consolidated balance sheet as of June 30, 2017.

In January of 2017, we completed the sale of Quant House SAS ("QuantHouse"), included in our Market and Commodities Intelligence segment, to QH Holdco, an independent third party. In November of 2016, we entered into a put option agreement that gave the Company the right, but not the obligation, to put the entire share capital of QuantHouse to QH Holdco. As a result, we classified the assets and liabilities of QuantHouse, net of our costs to sell, as held for sale, which is included in prepaid and other current assets and other current liabilities, respectively, in our consolidated balance sheet as of December 31, 2016. On January 4, 2017, we exercised the put option, thereby entering into a definitive agreement to sell QuantHouse to QH Holdco. On January 9, 2017, we completed the sale of QuantHouse to QH Holdco. Following the sale, the assets and liabilities of QuantHouse are no longer reported in our consolidated balance sheet as of June 30, 2017.

The components of assets and liabilities held for sale related to QuantHouse in the consolidated balance sheet consist of the following:



(in millions)	December 31,
	2016
Accounts receivable, net	$	4
Other assets	3
Assets of a business held for sale	$	7

Accounts payable and accrued expenses	$	3
Unearned revenue	7
Other liabilities	35
Liabilities of a business held for sale	$	45

The operating loss of our business that was disposed of for the periods ended June 30, 2017 and 2016 is as follows:



(in millions)	Three Months					Six Months
	2017		2016			2017		2016
Operating loss	$	—	$	(5	)	$	—	$	(12	)

During the six months ended June 30, 2016, we did not complete any dispositions.

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective income tax rate was 28.6% and 29.1% for the three and six months ended June 30, 2017, respectively, and 32.3% and 31.9% for the three and six months ended June 30, 2016, respectively. The decrease in 2017 was primarily due to the recognition of excess tax benefits associated with share-based payments in the statement of income, the resolution of tax audits and a benefit from an acquisition-related adjustment. 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 or unusual 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 continuously subject to tax examinations in various jurisdictions. As of June 30, 2017 and December 31, 2016, the total amount of federal, state and local, and foreign unrecognized tax benefits was $139 million and $161 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. In addition, as of June 30, 2017 and December 31, 2016, we had $49 million and $44 million, respectively, of accrued interest and penalties associated with unrecognized tax benefits. Based on the current status of income tax audits, we believe that the total amount of unrecognized tax benefits on the balance sheet may be reduced by up to approximately $32 million in the next twelve months as a result of the resolution of local tax examinations. In November of 2015, the Financial Accounting Standards Board ("FASB") issued guidance to simplify the presentation of deferred income taxes. The guidance requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. This guidance is effective for reporting periods beginning after December 15, 2016; however, early adoption was permitted. We early adopted this guidance in the fourth quarter of 2016, prospectively, and accordingly prior year amounts have not been reclassified.

Debt

6 Months Ended

Jun. 30, 2017

Debt Disclosure [Abstract]

Debt



(in millions)	June 30, 2017		December 31, 2016
2.5% Senior Notes, due 2018 ¹	$	399	$	398
3.3% Senior Notes, due 2020 ²	696		696
4.0% Senior Notes, due 2025 ³	691		691
4.4% Senior Notes, due 2026 ⁴	892		891
2.95% Senior Notes, due 2027 ⁵	492		492
6.55% Senior Notes, due 2037 ⁶	396		396
Commercial paper	—		—
Total debt	3,566		3,564
Less: short-term debt including current maturities	—		—
Long-term debt	$	3,566	$	3,564


¹	Interest payments are due semiannually on February 15 and August 15, and as of June 30, 2017, the unamortized debt discount and issuance costs total $1 million.


²	Interest payments are due semiannually on February 14 and August 14, and as of June 30, 2017, the unamortized debt discount and issuance costs total $4 million.


³	Interest payments are due semiannually on June 15 and December 15, and as of June 30, 2017, the unamortized debt discount and issuance costs total $9 million.


⁴	Interest payments are due semiannually on February 15 and August 15, and as of June 30, 2017, the unamortized debt discount and issuance costs total $8 million.


⁵	Interest payments are due semiannually on January 22 and July 22, and as of June 30, 2017, the unamortized debt discount and issuance costs total $8 million.


⁶	Interest payments are due semiannually on May 15 and November 15, and as of June 30, 2017, the unamortized debt discount and issuance costs total $4 million.

The fair value of our long-term debt borrowings was $3.8 billion and $3.7 billion as of June 30, 2017 and December 31, 2016, respectively, and was estimated based on quoted market prices.

On June 30, 2017, we entered into a revolving $1.2 billion five-year credit agreement (our "credit facility") that will terminate on June 30, 2022. This credit facility replaced our $1.2 billion five year credit facility that was scheduled to terminate on June 30, 2020. The previous credit facility was canceled immediately after the new credit facility became effective. There were no outstanding borrowings under the previous credit facility when it was replaced.

We have the ability to borrow a total of $1.2 billion through our commercial paper program, which is supported by our credit facility. As of June 30, 2017 and December 31, 2016, there were no commercial paper borrowings outstanding.

Depending on our indebtedness to cash flow ratio, we pay a commitment fee of 8 to 17.5 basis points for our credit facility, whether or not amounts have been borrowed. We currently pay a commitment fee of 12.5 basis points. The interest rate on borrowings under our credit facility is, at our option, calculated using rates that are primarily based on either the prevailing London Inter-Bank Offer Rate, the prime rate determined by the administrative agent or the Federal Funds Rate. For certain borrowings under this credit facility, there is also a spread based on our indebtedness to cash flow ratio added to the applicable rate.

Our credit facility contains certain covenants. The only financial covenant requires that our indebtedness to cash flow ratio, as defined in our credit facility, is not greater than 4 to 1, and this covenant level has never been exceeded.

Derivative Instruments

6 Months Ended

Jun. 30, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

Cash Flow Hedges

Our exposure to market risk includes changes in foreign exchange 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 June 30, 2017 and December 31, 2016, we have entered into foreign exchange forward contracts to hedge the effect of adverse fluctuations in foreign currency exchange rates. We do not enter into any derivative financial instruments for speculative purposes.

During the three months ended March 31, 2017, we entered into a series of foreign exchange forward contracts to hedge a portion of our Indian rupee, British pound, and euro exposures through the fourth quarter of 2017. 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 twelve 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.

During the three months ended March 31, 2016, we entered into a series of foreign exchange forward contracts to hedge a portion of our Indian rupee exposure through the fourth quarter of 2016. These contracts were intended to offset the impact of movement of exchange rates on future operating costs and matured at the end of each quarter during 2016. The changes in the fair value of these contracts were initially reported in accumulated other comprehensive loss in our consolidated balance sheet and were subsequently reclassified into selling and general expenses in the same period that the hedge contract matured.

As of June 30, 2017, we estimate that $1 million of the net gains related to derivatives designated as cash flow hedges recorded in other comprehensive income (loss) is expected to be reclassified into earnings within the next twelve months. There was no material hedge ineffectiveness for the three and six months ended June 30, 2017 and 2016. As of June 30, 2017 and June 30, 2016, the aggregate notional value of our outstanding foreign currency forward contracts was $192 million and $96 million, respectively.

The following table provides information on the location and fair value amounts of our cash flow hedges as of June 30, 2017 and December 31, 2016:



(in millions) Balance Sheet Location		June 30, 2017		December 31, 2016
Prepaid and other current assets ¹	Foreign exchange forward contracts	$	3	$	3


¹	Foreign currency forward contracts are recorded at fair value that is based on foreign currency exchange rates in active markets; therefore we classify these derivative contracts as Level 2.

The following table provides information on the location and amounts of pre-tax gains (losses) on our cash flow hedges for the periods ended June 30:

Three Months



(in millions)	Gain (Loss) Recognized in Accumulated Other Comprehensive Loss (effective portion)						Location of Gain Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion)	Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion)
Cash flow hedges - designated as hedging instruments	2017			2016				2017		2016
Foreign exchange forward contracts	$	(6	)	$	(1	)	Selling and general expenses	$	3	$	1

Six Months



(in millions)	Gain (Loss) Recognized in Accumulated Other Comprehensive Loss (effective portion)					Location of Gain Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion)	Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion)
Cash flow hedges - designated as hedging instruments	2017			2016			2017		2016
Foreign exchange forward contracts	$	(1	)	$	2	Selling and general expenses	$	4	$	2

The activity related to the change in unrealized gains (losses) in accumulated other comprehensive loss was as follows for the periods ended June 30:



(in millions)	Three Months						Six Months
	2017			2016			2017			2016
Net unrealized gains (losses) on cash flow hedges, net of taxes, beginning of period	$	7		$	2		$	2		$	(1	)
Change in fair value, net of tax	(3		)	—			3			4
Reclassification into earnings, net of tax	(3		)	(1		)	(4		)	(2		)
Net unrealized gains on cash flow hedges, net of taxes, end of period	$	1		$	1		$	1		$	1

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Employee Benefits

6 Months Ended

Jun. 30, 2017

Compensation and Retirement Disclosure [Abstract]

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 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 voluntary 401(k) plans under which we 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 and retired 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 defined benefit 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 unrecognized actuarial losses and unrecognized prior service costs. These amounts will be subsequently recognized as net periodic benefit (credit) cost pursuant to our accounting policy for amortizing such amounts.

The components of net periodic benefit cost (credit) for our retirement plans and postretirement plans for the periods ended June 30 are as follows:

Retirement Plans



(in millions)	Three Months						Six Months
	2017			2016			2017			2016
Service cost	$	1		$	1		$	1		$	1
Interest cost	19			19			37			39
Expected return on assets	(32		)	(31		)	(63		)	(61		)
Amortization of actuarial loss	4			4			9			8
Net periodic benefit cost	$	(8	)	$	(7	)	$	(16	)	$	(13	)

Postretirement Plans



(in millions)	Three Months						Six Months
	2017			2016			2017			2016
Service cost	$	—		$	—		$	—		$	—
Interest cost	—			1			1			1
Amortization of prior service credit / actuarial gain	(1		)	(1		)	(2		)	(1		)
Net periodic benefit cost	$	(1	)	$	—		$	(1	)	$	—

As discussed in our Form 10-K, we changed certain discount rate assumptions on our retirement and postretirement plans, which became effective on January 1, 2017. The effect of the assumption changes on retirement and postretirement expense for the three and six months ended June 30, 2017 did not have a material impact to our financial position, results of operations or cash flows.

In the first six months of 2017, we contributed $4 million to our retirement plans and expect to make additional required contributions of approximately $4 million to our retirement plans during the remainder of the year. We may elect to make additional non-required contributions depending on investment performance and the pension plan status in the remaining second half of 2017.

Stock-Based Compensation

6 Months Ended

Jun. 30, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

We issue stock-based incentive awards to our eligible employees and Directors under the 2002 Employee Stock Incentive Plan and a Director Deferred Stock Ownership Plan. The 2002 Employee Stock Incentive Plan permits the granting of nonqualified stock options, stock appreciation rights, performance stock, restricted stock and other stock-based awards.

Stock-based compensation for the periods ended June 30 is as follows:



(in millions)	Three Months				Six Months
	2017		2016		2017		2016
Stock option expense	$	—	$	2	$	2	$	4
Restricted stock and unit awards expense	21		18		39		30
Total stock-based compensation expense	$	21	$	20	$	41	$	34

During the six months ended June 30, 2017, the Company granted 0.4 million shares of restricted stock and unit awards, which had a weighted average grant date fair value of $129.47 per share. Total unrecognized compensation expense related to unvested restricted stock and unit awards as of June 30, 2017 was $88 million, which is expected to be recognized over a weighted average period of 1.9 years.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References + Details

Equity

6 Months Ended

Jun. 30, 2017

Equity [Abstract]

Equity

Stock Repurchases

On December 4, 2013, the Board of Directors approved a share repurchase program authorizing the purchase of 50 million shares, which was approximately 18% of the total shares of our outstanding common stock at that time.

In any period, share repurchase transactions could result in timing differences between the recognition of those repurchases and their settlement for cash. This could result in a difference between the cash used for financing activities related to common stock repurchased and the comparable change in equity.

Share repurchases for the periods ended June 30 were as follows:



(in millions, except average price)	Three Months				Six Months
	2017		2016		2017		2016
Total number of shares purchased	1.1		1.4		2.6		3.5
Average price paid per share ¹	$	137.49	$	107.74	$	133.01	$	98.05
Total cash utilized ¹	$	145	$	147	$	346	$	347


¹	In December of 2015, 0.3 million shares were repurchased for approximately $26 million, which settled in January of 2016. Cash used for financing activities only reflects those shares which settled during the six months ended June 30, 2016 resulting in $373 million of cash used to repurchase shares.

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 June 30, 2017, approximately 23.2 million shares remained available under the current share repurchase program which 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.

Redeemable Noncontrolling Interests

The 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, after December 31, 2017, CME Group and CME Group Index Services LLC ("CGIS") will have 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 interest” 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, considering a combination of an income and market valuation approach. Our income and market valuation approaches may incorporate Level 3 fair value measures for instances when observable inputs are not available, including assumptions related to expected future net cash flows, long-term growth rates, the timing and nature of tax attributes, and the redemption features. 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 interest during the six months ended June 30, 2017 were as follows:



(in millions)
Balance as of December 31, 2016	$	1,080
Net income attributable to noncontrolling interest	61
Distributions payable to noncontrolling interest	(36		)
Redemption value adjustment	2
Balance as of June 30, 2017	$	1,107

Accumulated Other Comprehensive Loss

The following table summarizes the changes in the components of accumulated other comprehensive loss for the six months ended June 30, 2017:



(in millions)	Foreign Currency Translation Adjustment			Pension and Postretirement Benefit Plans				Unrealized Gain (Loss) on Forward Exchange Contracts				Accumulated Other Comprehensive Loss
Balance as of December 31, 2016	$	(332	)	$	(443	)		$	2			$	(773	)
Other comprehensive income before reclassifications	72			(1		)		1				72
Reclassifications from accumulated other comprehensive loss to net earnings	—			6			¹	(4		)	²	2
Net other comprehensive income	72			5				(3		)		74
Balance as of June 30, 2017	$	(260	)	$	(438	)		$	(1	)		$	(699	)


¹	See Note 6 — Employee Benefits for additional details of items reclassed from accumulated other comprehensive loss to net earnings.


²	See Note 5 — Derivative Instruments for additional details of items reclassed from accumulated other comprehensive loss to net earnings.

The net actuarial loss and prior service cost related to pension and other postretirement benefit plans included in other comprehensive income is net of a tax provision of $2 million for the six months ended June 30, 2017.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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+ Details

Earnings Per Share

6 Months Ended

Jun. 30, 2017

Earnings Per Share [Abstract]

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 stock options and restricted performance shares calculated using the treasury stock method.

The calculation for basic and diluted EPS for the periods ended June 30 is as follows:



(in millions, except per share amounts)	Three Months				Six Months
	2017		2016		2017		2016
Amounts attributable to S&P Global Inc. common shareholders:
Net income	$	421	$	383	$	820	$	677

Basic weighted-average number of common shares outstanding	257.3		264.5		257.7		264.7
Effect of stock options and other dilutive securities	2.6		2.2		2.7		2.3
Diluted weighted-average number of common shares outstanding	259.9		266.7		260.4		267.0

Earnings per share attributable to S&P Global Inc. common shareholders:
Net income:
Basic	$	1.63	$	1.45	$	3.18	$	2.56
Diluted	$	1.62	$	1.44	$	3.15	$	2.54

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 and six months ended June 30, 2017 and 2016, there were no stock options excluded. Restricted performance shares outstanding of 0.9 million and 1.2 million as of June 30, 2017 and 2016, respectively, were excluded.

Restructuring

6 Months Ended

Jun. 30, 2017

Restructuring and Related Activities [Abstract]

Restructuring

During 2017 and 2016, we continued to evaluate our cost structure and further identified cost savings associated with streamlining our management structure and our decision to exit non-strategic businesses. Our 2017 and 2016 restructuring plans consisted of a company-wide workforce reduction of approximately 120 and 230 positions, respectively, and are further detailed below. The charges for the 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 of efficiencies in carrying out the plans or 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 June 30, 2017 by segment is as follows:



	2017 Restructuring Plans				2016 Restructuring Plans
(in millions)	Initial Charge Recorded		Ending Reserve Balance		Initial Charge Recorded		Ending Reserve Balance
Ratings	$	—	$	—	$	14	$	7
Market and Commodities Intelligence	5		4		10		4
Indices	—		—		1		—
Corporate	—		—		5		3
Total	$	5	$	4	$	30	$	14

We recorded a pre-tax restructuring charge of $5 million related to employee severance charges for the 2017 restructuring plan during the six months ended June 30, 2017 and have reduced the reserve by $1 million. The ending reserve balance for the 2016 restructuring plan was $23 million as of December 31, 2016. For the six months ended June 30, 2017, we have reduced the reserve for the 2016 restructuring plan by $9 million. The reductions primarily related to cash payments for employee severance charges.

Segment and Related Information

6 Months Ended

Jun. 30, 2017

Segment Reporting [Abstract]

Segment and Related Information

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

A summary of operating results by segment for the periods ended June 30 is as follows:



Three Months	2017						2016
(in millions)	Revenue			Operating Profit			Revenue			Operating Profit
Ratings ¹	$	747		$	397		$	682		$	396
Market and Commodities Intelligence ²	606			191			671			186
Indices ³	184			119			153			100
Intersegment elimination ⁴	(28		)	—			(24		)	—
Total operating segments	1,509			707			1,482			682
Unallocated expense ⁵	—			(30		)	—			(31		)
Total	$	1,509		$	677		$	1,482		$	651



Six Months	2017						2016
(in millions)	Revenue			Operating Profit			Revenue			Operating Profit
Ratings ¹	$	1,461		$	773		$	1,234		$	658
Market and Commodities Intelligence ²	1,199			378			1,333			369
Indices ³	355			233			304			200
Intersegment elimination ⁴	(53		)	—			(48		)	—
Total operating segments	2,962			1,384			2,823			1,227
Unallocated expense ⁵	—			(60		)	—			(64		)
Total	$	2,962		$	1,324		$	2,823		$	1,163

¹

Operating profit for the six months ended June 30, 2017 includes legal settlement expenses of $2 million. Operating profit for the three and six months ended June 30, 2016 includes a benefit related to net legal settlement insurance recoveries of $34 million and $46 million, respectively, and employee severance charges of $6 million. Operating profit also includes amortization of intangibles from acquisitions of $1 million for the three months ended June 30, 2017 and 2016 and $2 million and $3 million for the six months ended June 30, 2017 and 2016, respectively.

²

Operating profit includes a charge to exit a leased facility of $6 million, employee severance charges of $5 million and an asset write-off of $2 million for the three and six months ended June 30, 2017 and non-cash acquisition and disposition-related adjustments of $15 million for the six months ended June 30, 2017. Operating profit includes disposition-related costs of $10 million and $12 million for the three and six months ended June 30, 2016, respectively, and a technology-related impairment charge of $24 million for the six months ended June 30, 2016. Operating profit also includes amortization of intangibles from acquisitions of $23 million and $21 million for the three months ended June 30, 2017 and 2016, respectively, and $44 million and $41 million for the six months ended June 30, 2017 and 2016, respectively.


³	Operating profit includes amortization of intangibles from acquisitions of $1 million for the three months ended June 30, 2017 and 2016 and $3 million for the six months ended June 30, 2017 and 2016.


⁴	Revenue for Ratings and expenses for Market and Commodities Intelligence include an intersegment royalty charged to Market and Commodities Intelligence for the rights to use and distribute content and data developed by Ratings.


⁵	Operating profit for the three and six months ended June 30, 2016 includes $3 million from a disposition-related reserve release.

The following provides revenue by geographic region for the periods ended June 30:



(in millions)	Three Months				Six Months
	2017		2016		2017		2016
U.S.	$	922	$	910	$	1,813	$	1,750
European region	360		339		706		636
Asia	142		156		275		293
Rest of the world	85		77		168		144
Total	$	1,509	$	1,482	$	2,962	$	2,823

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

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Related Party Agreements In June of 2012, we entered into a new license agreement (the "License Agreement") with the holder of S&P Dow Jones Indices LLC noncontrolling interest, CME Group, which replaced 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 the three and six months ended June 30, 2017, S&P Dow Jones Indices LLC earned $20 million and $38 million, respectively, 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 & 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 the subject of government and regulatory proceedings, investigations and inquiries. Many of these proceedings, investigations and inquiries relate to the ratings activity of S&P Global Ratings brought by issuers and alleged purchasers of rated securities. In addition, various government and self-regulatory agencies frequently make inquiries and conduct investigations into our compliance with applicable laws and regulations, including those related to ratings activities and antitrust matters. 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. The Company believes that it has meritorious defenses to the pending claims and potential claims in the matters described below and is diligently pursuing these defenses, and in some cases working to reach an acceptable negotiated resolution. However, in view of the uncertainty inherent in litigation and government and regulatory enforcement matters, we cannot predict the eventual outcome of these matters or the timing of their resolution, or in most cases reasonably estimate what the eventual judgments, damages, fines, penalties or impact of activity restrictions may be. As a result, we cannot provide assurance that the outcome of the matters described below 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 and competitive position, which may require that we record liabilities in the consolidated financial statements in future periods. With respect to the matters identified below, we have recognized a liability when both (a) information available indicates that it is probable that a liability has been incurred as of the date of these financial statements and (b) the amount of loss can reasonably be estimated. S&P Global Ratings Financial Crisis Litigation The Company and its subsidiaries continue to defend civil cases brought by private and public plaintiffs arising out of ratings activities prior to and during the global financial crisis of 2008-2009. Included in these civil cases are seven lawsuits in Australia against the Company and Standard & Poor’s International, LLC relating to alleged investment losses in collateralized debt obligations (“CDOs”) rated by S&P Global Ratings. Discovery in certain of these cases, including the Australia matters, is ongoing. We can provide no assurance that we will not be obligated to pay significant amounts in order to resolve these matters on terms deemed acceptable. U.S. Securities and Exchange Commission As a nationally recognized statistical rating organization registered with the SEC under Section 15E of the Securities Exchange Act of 1934, 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 Ratings seeks to promptly address any compliance issues that it detects or that the staff of the SEC raises, there can be no assurance that the SEC will not seek remedies against S&P Global Ratings for one or more compliance deficiencies. Trani Prosecutorial Proceeding In 2014, the prosecutor in the Italian city of Trani obtained criminal indictments against several current and former S&P Global Ratings managers and ratings analysts for alleged market manipulation, and against Standard & Poor’s Credit Market Services Europe under Italy’s vicarious liability statute, for having allegedly failed to properly supervise the ratings analysts and prevent them from committing market manipulation. The prosecutor’s theories were based on various actions by S&P Global Ratings taken with respect to Italian sovereign debt between May of 2011 and January of 2012. Trial commenced in February of 2015, and on March 30, 2017, the court in Trani issued an oral verdict acquitting each of the individual defendants and Standard & Poor’s Credit Market Services Europe of all charges. The court will issue a written opinion supporting the verdict, and the prosecutor will then have the right to appeal. If the prosecutor appeals and the verdict is reversed, a conviction could result in criminal penalties, as well as civil damages claims and other sanctions against Standard & Poor’s Credit Market Services Europe or the Company. Such claims and sanctions cannot be quantified at this stage. Shareholder Derivative Actions In August of 2015, two purported shareholders commenced a putative derivative action on behalf of the Company in New York State Supreme Court titled Retirement Plan for General Employees of the City of North Miami Beach and Robin Stein v. Harold McGraw III, et al. The complaint asserts claims for, among other things, breach of fiduciary duty, waste of corporate assets, and mismanagement against the board of directors and certain former directors and employees of the Company. Plaintiffs seek recovery from the defendants based primarily on allegations that S&P Global Ratings’ credit ratings practices for certain residential mortgage-backed securities and collateralized debt obligations misrepresented the credit risks of those securities, allegedly resulting in losses to the Company. In January of 2016, a different purported shareholder commenced a separate putative derivative action on behalf of the Company in New York State Supreme Court titled L.A. Grika v. Harold McGraw III, et al. The allegations in the complaint are substantially similar to those in the North Miami Beach matter. The complaint asserts claims for, among other things, breach of fiduciary duty, aiding and abetting breaches of fiduciary duty, unjust enrichment, contribution and indemnification against Harold McGraw III, Douglas L. Peterson, and nine former employees of the Company. The Grika matter was transferred to the judge presiding over the North Miami Beach matter. In December of 2016, the court issued orders granting motions to dismiss both the North Miami Beach and Grika matters. In January of 2017, the plaintiffs in both matters filed notices of appeal.

Recently Issued or Adopted Accounting Standards	6 Months Ended
Recently Issued or Adopted Accounting Standards	Jun. 30, 2017
Accounting Changes and Error Corrections [Abstract]
Recently Issued or Adopted Accounting Standards	Recently Issued or Adopted Accounting Standards In May of 2017, FASB issued guidance that provides clarification on when modification accounting should be used for changes to the terms or conditions of a share-based payment award. This guidance does not change the accounting for modifications but clarifies when modification accounting guidance should be applied. Under the new guidance, an entity should apply modification accounting in response to a change in the terms and conditions of an entity's share-based payment awards unless three newly specified criteria are met. The guidance is effective for reporting periods beginning after December 15, 2017; however, early adoption is permitted. We do not expect this guidance to have a significant impact on our consolidated financial statements. In March of 2017, FASB issued guidance to enhance the presentation of net periodic pension cost and net periodic postretirement benefit cost. The guidance requires employers to report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period, and requires the other components of net periodic pension cost and net periodic postretirement benefit cost to be presented in the income statement separately from the service cost component outside a subtotal of income from operations, if one is presented. Additionally, only the service cost component is eligible for capitalization, when applicable. The guidance is effective for reporting periods beginning after December 15, 2017; however, early adoption is permitted. We are currently assessing the impact of this guidance on our consolidated financial statements. In January of 2017, the FASB issued guidance that simplifies the subsequent measurement of goodwill and eliminates Step 2 from the goodwill impairment test. Under the new guidance, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The guidance is effective for reporting periods beginning after December 15, 2019; however, early adoption is permitted. We do not expect this guidance to have a significant impact on our consolidated financial statements. In January of 2017, the FASB issued guidance that clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The guidance is effective for reporting periods beginning after December 15, 2017. We do not expect this guidance to have a significant impact on our consolidated financial statements. In August of 2016, the FASB issued guidance providing amendments to eight specific statement of cash flows classification issues. The guidance is effective for reporting periods beginning after December 15, 2017; however, early adoption is permitted. We do not expect this guidance to have a significant impact on our consolidated financial statements. In March of 2016, the FASB issued guidance to modify several aspects of accounting for share-based payment transactions, including the accounting for income taxes, forfeitures, statutory tax withholding requirements, as well as classification in the statement of cash flows. This guidance requires recognizing excess tax benefits and deficiencies as income tax expense or benefit in the statement of income, instead of in equity. The guidance was effective on January 1, 2017 and was adopted as follows: 1) prospectively for the recognition of excess tax benefits and deficiencies in the tax provision, 2) retrospectively for the classification of excess tax benefits and deficiencies in the statement of cash flows, and 3) retrospectively for the classification of cash paid for shares withheld to satisfy employee taxes in the statement of cash flows. For the six months ended June 30, 2017, excess tax benefits from share-based payments of $17 million were recognized as an income tax benefit in our consolidated statements of income and classified as an operating activity in our consolidated statements of cash flows. For the six months ended June 30, 2016, we reclassified $19 million of excess tax benefits from share-based payments from a financing activity to an operating activity in our consolidated statements of cash flows. In addition, cash paid for shares withheld on the employees' behalf of $44 million was classified as a financing activity in our consolidated statements of cash flows for the six months ended June 30, 2017. Cash paid for employee taxes of $50 million was reclassified from an operating activity to a financing activity in our consolidated statements of cash flows for the six months ended June 30, 2016. In February of 2016, the FASB issued guidance that amends accounting for leases. Under the new guidance, a lessee will recognize assets and liabilities but will recognize expenses similar to current lease accounting. The guidance is effective for reporting periods beginning after December 15, 2018; however early adoption is permitted. The new guidance must be adopted using a modified retrospective approach to each prior reporting period presented with various optional practical expedients. We are currently evaluating the impact of the adoption of this guidance on our consolidated financial statements. In January of 2016, the FASB issued guidance to enhance the reporting model for financial instruments, which includes amendments to address certain aspects of recognition, measurement, presentation and disclosure. The guidance is effective for reporting periods beginning after December 15, 2017. We do not expect this guidance to have a significant impact on our consolidated financial statements. In May of 2014, the FASB and the International Accounting Standards Board (“IASB”) issued jointly a converged standard on the recognition of revenue from contracts with customers, which is intended to improve the financial reporting of revenue and comparability of the top line in financial statements globally. The core principle of the new standard is for the recognition of revenue to depict the transfer of goods or services to customers in amounts that reflect the payment to which the company expects to be entitled in exchange for those goods or services. The new standard will also result in enhanced revenue disclosures, provide guidance for transactions that were not previously addressed comprehensively and improve guidance for multiple-element arrangements. In August of 2015, the FASB issued guidance deferring the effective date of the new revenue standard by one year. Subsequently, the FASB issued implementation guidance related to the new revenue standard, including the following: In March of 2016, the FASB issued guidance to clarify the implementation guidance on principal versus agent considerations; in April of 2016, the FASB clarified guidance on performance obligations and the licensing implementation guidance; in May of 2016, the FASB issued a practical expedient in response to identified implementation issues. The new guidance will be effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. We are currently anticipating using the modified retrospective transition method and evaluating the impact that the adoption of this standard will have on our consolidated financial statements. We are continuing our evaluation of potential changes to our accounting policies, business processes, systems and internal controls to support the recognition and disclosure requirements under the new standard. At this point, we believe the new standard will have an impact on: 1) the accounting for certain long-term deferred revenue in our Ratings segment which may contain a financing component, 2) the accounting for fees for certain Ratings products that are currently recognized over time or at a point in time to match when the customer obtains control of the product, 3) for presentation of sales of certain of our jointly-owned products in or Market and Commodities Intelligence segment, revenue will be recognized on a gross rather than net basis, and 4) the capitalization of costs to obtain a contract and the related amortization period of those costs. We do not expect that these changes from the adoption of this standard will have a significant impact on our consolidated financial statements.

- Definition

The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period.

+ References + Details

Condensed Consolidating Financial Statements

6 Months Ended

Jun. 30, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Financial Statements

On September 22, 2016, we issued $500 million of 2.95% senior notes due in 2027. On May 26, 2015, we issued $700 million of 4.0% senior notes due in 2025. On August 18, 2015, we issued $2.0 billion of senior notes, consisting of $400 million of 2.5% senior notes due in 2018, $700 million of 3.3% senior notes due in 2020 and $900 million of 4.4% senior notes due in 2026. See Note 4 — Debt for additional information.

The senior notes described above are fully and unconditionally guaranteed by Standard & Poor's Financial Services LLC, a 100% owned subsidiary of the Company. The following condensed consolidating financial statements present the results of operations, financial position and cash flows of S&P Global Inc., Standard & Poor's Financial Services LLC, and the Non-Guarantor Subsidiaries of S&P Global Inc. and Standard & Poor's Financial Services LLC, and the eliminations necessary to arrive at the information for the Company on a consolidated basis.



	Statement of Income
	Three Months Ended June 30, 2017
	(Unaudited)
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
Revenue	$	181		$	447		$	916		$	(35	)	$	1,509
Expenses:
Operating-related expenses	39			115			330			(35		)	449
Selling and general expenses	26			83			229			—			338
Depreciation	8			3			9			—			20
Amortization of intangibles	—			—			25			—			25
Total expenses	73			201			593			(35		)	832
Operating profit	108			246			323			—			677
Interest expense (income), net	40			—			(3		)	—			37
Non-operating intercompany transactions	93			(22		)	(726		)	655			—
Income before taxes on income	(25		)	268			1,052			(655		)	640
(Benefit) provision for taxes on income	(36		)	119			100			—			183
Equity in net income of subsidiaries	1,064			—			—			(1,064		)	—
Net income	$	1,075		$	149		$	952		$	(1,719	)	$	457
Less: net income attributable to noncontrolling interests	—			—			—			(36		)	(36		)
Net income attributable to S&P Global Inc.	$	1,075		$	149		$	952		$	(1,755	)	$	421
Comprehensive income	$	1,085		$	148		$	972		$	(1,712	)	$	493



	Statement of Income
	Six Months Ended June 30, 2017
	(Unaudited)
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
Revenue	$	361		$	885		$	1,783		$	(67	)	$	2,962
Expenses:
Operating-related expenses	71			234			623			(67		)	861
Selling and general expenses	45			172			472			—			689
Depreciation	15			5			19			—			39
Amortization of intangibles	—			—			49			—			49
Total expenses	131			411			1,163			(67		)	1,638
Operating profit	230			474			620			—			1,324
Interest expense (income), net	79			—			(5		)	—			74
Non-operating intercompany transactions	175			(41		)	(1,626		)	1,492			—
Income before taxes on income	(24		)	515			2,251			(1,492		)	1,250
(Benefit) provision for taxes on income	(47		)	218			192			—			363
Equity in net income of subsidiaries	2,288			—			—			(2,288		)	—
Net income	$	2,311		$	297		$	2,059		$	(3,780	)	$	887
Less: net income attributable to noncontrolling interests	—			—			—			(67		)	(67		)
Net income attributable to S&P Global Inc.	$	2,311		$	297		$	2,059		$	(3,847	)	$	820
Comprehensive income	$	2,323		$	296		$	2,118		$	(3,776	)	$	961



	Statement of Income
	Three Months Ended June 30, 2016
	(Unaudited)
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
Revenue	$	171		$	413		$	930		$	(32	)	$	1,482
Expenses:
Operating-related expenses	26			93			382			(32		)	469
Selling and general expenses	33			62			222			—			317
Depreciation	10			2			10			—			22
Amortization of intangibles	—			—			23			—			23
Total expenses	69			157			637			(32		)	831
Operating profit	102			256			293			—			651
Interest expense (income), net	44			—			(2		)	—			42
Non-operating intercompany transactions	95			(37		)	(199		)	141			—
(Loss) income before taxes on income	(37		)	293			494			(141		)	609
(Benefit) provision for taxes on income	(17		)	111			103			—			197
Equity in net income of subsidiaries	617			72			—			(689		)	—
Net income	$	597		$	254		$	391		$	(830	)	$	412
Less: net income attributable to noncontrolling interests	—			—			—			(29		)	(29		)
Net income attributable to S&P Global Inc.	$	597		$	254		$	391		$	(859	)	$	383
Comprehensive income	$	545		$	261		$	409		$	(850	)	$	365



	Statement of Income
	Six Months Ended June 30, 2016
	(Unaudited)
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
Revenue	$	342		$	754		$	1,789		$	(62	)	$	2,823
Expenses:
Operating-related expenses	49			231			705			(62		)	923
Selling and general expenses	54			97			499			—			650
Depreciation	19			5			16			—			40
Amortization of intangibles	—			—			47			—			47
Total expenses	122			333			1,267			(62		)	1,660
Operating profit	220			421			522			—			1,163
Interest expense (income), net	86			—			(3		)	—			83
Non-operating intercompany transactions	169			(42		)	(697		)	570			—
(Loss) income before taxes on income	(35		)	463			1,222			(570		)	1,080
(Benefit) provision for taxes on income	(18		)	167			196			—			345
Equity in net income of subsidiaries	1,408			144			—			(1,552		)	—
Net income	$	1,391		$	440		$	1,026		$	(2,122	)	$	735
Less: net income attributable to noncontrolling interests	—			—			—			(58		)	(58		)
Net income attributable to S&P Global Inc.	$	1,391		$	440		$	1,026		$	(2,180	)	$	677
Comprehensive income	$	1,347		$	446		$	1,055		$	(2,140	)	$	708



	Balance Sheet
	June 30, 2017
	(Unaudited)
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	509		$	—		$	1,875		$	—		$	2,384
Accounts receivable, net of allowance for doubtful accounts	123			191			852			—			1,166
Intercompany receivable	679			1,498			1,982			(4,159		)	—
Prepaid and other current assets	96			(2		)	79			—			173
Total current assets	1,407			1,687			4,788			(4,159		)	3,723
Property and equipment, net of accumulated depreciation	148			1			115			—			264
Goodwill	260			—			2,706			16			2,982
Other intangible assets, net	—			—			1,442			—			1,442
Investments in subsidiaries	6,681			5			8,920			(15,606		)	—
Intercompany loans receivable	109			—			1,075			(1,184		)	—
Other non-current assets	165			29			186			—			380
Total assets	$	8,770		$	1,722		$	19,232		$	(20,933	)	$	8,791
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	57		$	14		$	91		$	—		$	162
Intercompany payable	2,604			443			1,111			(4,158		)	—
Accrued compensation and contributions to retirement plans	104			47			143			—			294
Income taxes currently payable	8			—			71			—			79
Unearned revenue	274			220			1,008			—			1,502
Other current liabilities	137			12			176			—			325
Total current liabilities	3,184			736			2,600			(4,158		)	2,362
Long-term debt	3,566			—			—			—			3,566
Intercompany loans payable	103			—			1,081			(1,184		)	—
Pension and other postretirement benefits	198			—			71			—			269
Other non-current liabilities	40			70			304			—			414
Total liabilities	7,091			806			4,056			(5,342		)	6,611
Redeemable noncontrolling interest	—			—			—			1,107			1,107
Equity:
Common stock	412			—			2,292			(2,292		)	412
Additional paid-in capital	(211		)	588			11,392			(11,279		)	490
Retained income	10,759			328			1,986			(3,257		)	9,816
Accumulated other comprehensive loss	(281		)	—			(467		)	49			(699		)
Less: common stock in treasury	(9,000		)	—			(28		)	28			(9,000		)
Total equity - controlling interests	1,679			916			15,175			(16,751		)	1,019
Total equity - noncontrolling interests	—			—			1			53			54
Total equity	1,679			916			15,176			(16,698		)	1,073
Total liabilities and equity	$	8,770		$	1,722		$	19,232		$	(20,933	)	$	8,791



	Balance Sheet
	December 31, 2016
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	711		$	—		$	1,681		$	—		$	2,392
Accounts receivable, net of allowance for doubtful accounts	138			131			853			—			1,122
Intercompany receivable	(165		)	837			870			(1,542		)	—
Prepaid and other current assets	77			2			79			(1		)	157
Total current assets	761			970			3,483			(1,543		)	3,671
Property and equipment, net of accumulated depreciation	159			1			111			—			271
Goodwill	261			—			2,679			9			2,949
Other intangible assets, net	—			—			1,506			—			1,506
Investments in subsidiaries	5,464			680			7,826			(13,970		)	—
Intercompany loans receivable	17			—			1,354			(1,371		)	—
Other non-current assets	134			24			114			—			272
Total assets	$	6,796		$	1,675		$	17,073		$	(16,875	)	$	8,669
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	73		$	22		$	88		$	—		$	183
Intercompany payable	1,324			40			177			(1,541		)	—
Accrued compensation and contributions to retirement plans	129			69			211			—			409
Income taxes currently payable	43			—			52			—			95
Unearned revenue	273			191			1,045			—			1,509
Other current liabilities	165			(51		)	301			—			415
Total current liabilities	2,007			271			1,874			(1,541		)	2,611
Long-term debt	3,564			—			—			—			3,564
Intercompany loans payable	11			—			1,360			(1,371		)	—
Pension and other postretirement benefits	196			—			78			—			274
Other non-current liabilities	52			74			314			(1		)	439
Total liabilities	5,830			345			3,626			(2,913		)	6,888
Redeemable noncontrolling interest	—			—			—			1,080			1,080
Equity:
Common stock	412			—			2,460			(2,460		)	412
Additional paid-in capital	(174		)	1,154			10,485			(10,963		)	502
Retained income	9,721			176			1,034			(1,721		)	9,210
Accumulated other comprehensive loss	(292		)	—			(525		)	44			(773		)
Less: common stock in treasury	(8,701		)	—			(7		)	7			(8,701		)
Total equity - controlling interests	966			1,330			13,447			(15,093		)	650
Total equity - noncontrolling interests	—			—			—			51			51
Total equity	966			1,330			13,447			(15,042		)	701
Total liabilities and equity	$	6,796		$	1,675		$	17,073		$	(16,875	)	$	8,669



	Statement of Cash Flows
	Six Months Ended June 30, 2017
	(Unaudited)
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
Operating Activities:
Net income	$	2,311		$	297		$	2,059		$	(3,780	)	$	887
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	15			5			19			—			39
Amortization of intangibles	—			—			49			—			49
Provision for losses on accounts receivable	—			4			9			—			13
Stock-based compensation	14			10			17			—			41
Other	17			—			9			—			26
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable	14			(63		)	—			—			(49		)
Prepaid and other current assets	(18		)	3			2			—			(13		)
Accounts payable and accrued expenses	(40		)	34			(133		)	—			(139		)
Unearned revenue	1			28			(46		)	—			(17		)
Accrued legal settlements	—			(1		)	(3		)	—			(4		)
Other current liabilities	(33		)	(4		)	(48		)	—			(85		)
Net change in prepaid/accrued income taxes	(55		)	—			10			—			(45		)
Net change in other assets and liabilities	(17		)	1			(13		)	—			(29		)
Cash provided by operating activities	2,209			314			1,931			(3,780		)	674
Investing Activities:
Capital expenditures	(19		)	(10		)	(27		)	—			(56		)
Acquisitions, net of cash acquired	—			—			(70		)	—			(70		)
Proceeds from dispositions	—			—			2			—			2
Cash used for investing activities	(19		)	(10		)	(95		)	—			(124		)
Financing Activities:
Dividends paid to shareholders	(212		)	—			—			—			(212		)
Distributions to noncontrolling interest holders	—			—			(54		)	—			(54		)
Repurchase of treasury shares	(346		)	—			—			—			(346		)
Exercise of stock options	38			—			—			—			38
Employee withholding tax on share-based payments	(44		)	—			—			—			(44		)
Intercompany financing activities	(1,842		)	(304		)	(1,634		)	3,780			—
Cash used for financing activities	(2,406		)	(304		)	(1,688		)	3,780			(618		)
Effect of exchange rate changes on cash from continuing operations	14			—			46			—			60
Net change in cash and cash equivalents	(202		)	—			194			—			(8		)
Cash and cash equivalents at beginning of period	711			—			1,681			—			2,392
Cash and cash equivalents at end of period	$	509		$	—		$	1,875		$	—		$	2,384



	Statement of Cash Flows
	Six Months Ended June 30, 2016
	(Unaudited)
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
Operating Activities:
Net income	$	1,391		$	440		$	1,026		$	(2,122	)	$	735
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	19			5			16			—			40
Amortization of intangibles	—			—			47			—			47
Provision for losses on accounts receivable	1			1			6			—			8
Stock-based compensation	10			7			17			—			34
Other	(1		)	8			36			—			43
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable	(7		)	148			(180		)	—			(39		)
Prepaid and other current assets	(21		)	13			(6		)	—			(14		)
Accounts payable and accrued expenses	(26		)	(98		)	(47		)	—			(171		)
Unearned revenue	18			(375		)	395			—			38
Accrued legal settlements	—			(108		)	—			—			(108		)
Other current liabilities	(23		)	(25		)	27			—			(21		)
Net change in prepaid/accrued income taxes	83			—			9			—			92
Net change in other assets and liabilities	(31		)	27			(40		)	—			(44		)
Cash provided by operating activities	1,413			43			1,306			(2,122		)	640
Investing Activities:
Capital expenditures	(16		)	(7		)	(13		)	—			(36		)
Acquisitions, net of cash acquired	(40		)	—			(12		)	—			(52		)
Cash used for investing activities	(56		)	(7		)	(25		)	—			(88		)
Financing Activities:
Additions to short-term debt, net	166			—			—			—			166
Dividends paid to shareholders	(191		)	—			—			—			(191		)
Distributions to noncontrolling interest holders	—			—			(57		)	—			(57		)
Repurchase of treasury shares	(373		)	—			—			—			(373		)
Exercise of stock options	64			—			1			—			65
Employee withholding tax on share-based payments	(50		)	—			—			—			(50		)
Intercompany financing activities	(1,038		)	(36		)	(1,048		)	2,122			—
Cash used for financing activities	(1,422		)	(36		)	(1,104		)	2,122			(440		)
Effect of exchange rate changes on cash from continuing operations	(40		)	—			14			—			(26		)
Net change in cash and cash equivalents	(105		)	—			191			—			86
Cash and cash equivalents at beginning of period	167			—			1,314			—			1,481
Cash and cash equivalents at end of period	$	62		$	—		$	1,505		$	—		$	1,567

Nature of Operations and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
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 footnotes 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, 2016 (our “Form 10-K”). Certain prior-year amounts have been reclassified to conform with current presentation. 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 and six months ended June 30, 2017 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, 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.
Recently Issued or Adopted Accounting Standards	Recently Issued or Adopted Accounting Standards In May of 2017, FASB issued guidance that provides clarification on when modification accounting should be used for changes to the terms or conditions of a share-based payment award. This guidance does not change the accounting for modifications but clarifies when modification accounting guidance should be applied. Under the new guidance, an entity should apply modification accounting in response to a change in the terms and conditions of an entity's share-based payment awards unless three newly specified criteria are met. The guidance is effective for reporting periods beginning after December 15, 2017; however, early adoption is permitted. We do not expect this guidance to have a significant impact on our consolidated financial statements. In March of 2017, FASB issued guidance to enhance the presentation of net periodic pension cost and net periodic postretirement benefit cost. The guidance requires employers to report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period, and requires the other components of net periodic pension cost and net periodic postretirement benefit cost to be presented in the income statement separately from the service cost component outside a subtotal of income from operations, if one is presented. Additionally, only the service cost component is eligible for capitalization, when applicable. The guidance is effective for reporting periods beginning after December 15, 2017; however, early adoption is permitted. We are currently assessing the impact of this guidance on our consolidated financial statements. In January of 2017, the FASB issued guidance that simplifies the subsequent measurement of goodwill and eliminates Step 2 from the goodwill impairment test. Under the new guidance, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The guidance is effective for reporting periods beginning after December 15, 2019; however, early adoption is permitted. We do not expect this guidance to have a significant impact on our consolidated financial statements. In January of 2017, the FASB issued guidance that clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The guidance is effective for reporting periods beginning after December 15, 2017. We do not expect this guidance to have a significant impact on our consolidated financial statements. In August of 2016, the FASB issued guidance providing amendments to eight specific statement of cash flows classification issues. The guidance is effective for reporting periods beginning after December 15, 2017; however, early adoption is permitted. We do not expect this guidance to have a significant impact on our consolidated financial statements. In March of 2016, the FASB issued guidance to modify several aspects of accounting for share-based payment transactions, including the accounting for income taxes, forfeitures, statutory tax withholding requirements, as well as classification in the statement of cash flows. This guidance requires recognizing excess tax benefits and deficiencies as income tax expense or benefit in the statement of income, instead of in equity. The guidance was effective on January 1, 2017 and was adopted as follows: 1) prospectively for the recognition of excess tax benefits and deficiencies in the tax provision, 2) retrospectively for the classification of excess tax benefits and deficiencies in the statement of cash flows, and 3) retrospectively for the classification of cash paid for shares withheld to satisfy employee taxes in the statement of cash flows. For the six months ended June 30, 2017, excess tax benefits from share-based payments of $17 million were recognized as an income tax benefit in our consolidated statements of income and classified as an operating activity in our consolidated statements of cash flows. For the six months ended June 30, 2016, we reclassified $19 million of excess tax benefits from share-based payments from a financing activity to an operating activity in our consolidated statements of cash flows. In addition, cash paid for shares withheld on the employees' behalf of $44 million was classified as a financing activity in our consolidated statements of cash flows for the six months ended June 30, 2017. Cash paid for employee taxes of $50 million was reclassified from an operating activity to a financing activity in our consolidated statements of cash flows for the six months ended June 30, 2016. In February of 2016, the FASB issued guidance that amends accounting for leases. Under the new guidance, a lessee will recognize assets and liabilities but will recognize expenses similar to current lease accounting. The guidance is effective for reporting periods beginning after December 15, 2018; however early adoption is permitted. The new guidance must be adopted using a modified retrospective approach to each prior reporting period presented with various optional practical expedients. We are currently evaluating the impact of the adoption of this guidance on our consolidated financial statements. In January of 2016, the FASB issued guidance to enhance the reporting model for financial instruments, which includes amendments to address certain aspects of recognition, measurement, presentation and disclosure. The guidance is effective for reporting periods beginning after December 15, 2017. We do not expect this guidance to have a significant impact on our consolidated financial statements. In May of 2014, the FASB and the International Accounting Standards Board (“IASB”) issued jointly a converged standard on the recognition of revenue from contracts with customers, which is intended to improve the financial reporting of revenue and comparability of the top line in financial statements globally. The core principle of the new standard is for the recognition of revenue to depict the transfer of goods or services to customers in amounts that reflect the payment to which the company expects to be entitled in exchange for those goods or services. The new standard will also result in enhanced revenue disclosures, provide guidance for transactions that were not previously addressed comprehensively and improve guidance for multiple-element arrangements. In August of 2015, the FASB issued guidance deferring the effective date of the new revenue standard by one year. Subsequently, the FASB issued implementation guidance related to the new revenue standard, including the following: In March of 2016, the FASB issued guidance to clarify the implementation guidance on principal versus agent considerations; in April of 2016, the FASB clarified guidance on performance obligations and the licensing implementation guidance; in May of 2016, the FASB issued a practical expedient in response to identified implementation issues. The new guidance will be effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. We are currently anticipating using the modified retrospective transition method and evaluating the impact that the adoption of this standard will have on our consolidated financial statements. We are continuing our evaluation of potential changes to our accounting policies, business processes, systems and internal controls to support the recognition and disclosure requirements under the new standard. At this point, we believe the new standard will have an impact on: 1) the accounting for certain long-term deferred revenue in our Ratings segment which may contain a financing component, 2) the accounting for fees for certain Ratings products that are currently recognized over time or at a point in time to match when the customer obtains control of the product, 3) for presentation of sales of certain of our jointly-owned products in or Market and Commodities Intelligence segment, revenue will be recognized on a gross rather than net basis, and 4) the capitalization of costs to obtain a contract and the related amortization period of those costs. We do not expect that these changes from the adoption of this standard will have a significant impact on our consolidated financial statements.

Acquisitions and Divestitures (Tables)

6 Months Ended

Jun. 30, 2017

Business Combinations [Abstract]

Components of assets and liabilities, and operating loss, of businesses held for sale

The components of assets and liabilities held for sale related to QuantHouse in the consolidated balance sheet consist of the following:



(in millions)	December 31,
	2016
Accounts receivable, net	$	4
Other assets	3
Assets of a business held for sale	$	7

Accounts payable and accrued expenses	$	3
Unearned revenue	7
Other liabilities	35
Liabilities of a business held for sale	$	45

The operating loss of our business that was disposed of for the periods ended June 30, 2017 and 2016 is as follows:



(in millions)	Three Months					Six Months
	2017		2016			2017		2016
Operating loss	$	—	$	(5	)	$	—	$	(12	)

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=65878427&loc=SL51721533-107759

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
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-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721665-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
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-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721683-107760

Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=64862545&loc=SL51724579-110230

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721675-107760

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721663-107760

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=64862545&loc=d3e2941-110230

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721673-107760

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
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-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721659-107760

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721671-107760

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5D
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721677-107760

+ Details

Debt (Tables)

6 Months Ended

Jun. 30, 2017

Debt Disclosure [Abstract]

Schedule of debt



(in millions)	June 30, 2017		December 31, 2016
2.5% Senior Notes, due 2018 ¹	$	399	$	398
3.3% Senior Notes, due 2020 ²	696		696
4.0% Senior Notes, due 2025 ³	691		691
4.4% Senior Notes, due 2026 ⁴	892		891
2.95% Senior Notes, due 2027 ⁵	492		492
6.55% Senior Notes, due 2037 ⁶	396		396
Commercial paper	—		—
Total debt	3,566		3,564
Less: short-term debt including current maturities	—		—
Long-term debt	$	3,566	$	3,564


¹	Interest payments are due semiannually on February 15 and August 15, and as of June 30, 2017, the unamortized debt discount and issuance costs total $1 million.


²	Interest payments are due semiannually on February 14 and August 14, and as of June 30, 2017, the unamortized debt discount and issuance costs total $4 million.


³	Interest payments are due semiannually on June 15 and December 15, and as of June 30, 2017, the unamortized debt discount and issuance costs total $9 million.


⁴	Interest payments are due semiannually on February 15 and August 15, and as of June 30, 2017, the unamortized debt discount and issuance costs total $8 million.


⁵	Interest payments are due semiannually on January 22 and July 22, and as of June 30, 2017, the unamortized debt discount and issuance costs total $8 million.


⁶	Interest payments are due semiannually on May 15 and November 15, and as of June 30, 2017, the unamortized debt discount and issuance costs total $4 million.

Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of the 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 as of June 30, 2017 and December 31, 2016:



(in millions) Balance Sheet Location		June 30, 2017		December 31, 2016
Prepaid and other current assets ¹	Foreign exchange forward contracts	$	3	$	3


¹	Foreign currency forward contracts are recorded at fair value that is based on foreign currency exchange rates in active markets; therefore we classify these derivative contracts as Level 2.

Schedule of the location and amounts 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 for the periods ended June 30:

Three Months



(in millions)	Gain (Loss) Recognized in Accumulated Other Comprehensive Loss (effective portion)						Location of Gain Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion)	Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion)
Cash flow hedges - designated as hedging instruments	2017			2016				2017		2016
Foreign exchange forward contracts	$	(6	)	$	(1	)	Selling and general expenses	$	3	$	1

Six Months



(in millions)	Gain (Loss) Recognized in Accumulated Other Comprehensive Loss (effective portion)					Location of Gain Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion)	Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion)
Cash flow hedges - designated as hedging instruments	2017			2016			2017		2016
Foreign exchange forward contracts	$	(1	)	$	2	Selling and general expenses	$	4	$	2

Change in unrealized gains (losses) in accumulated other comprehensive loss

The activity related to the change in unrealized gains (losses) in accumulated other comprehensive loss was as follows for the periods ended June 30:



(in millions)	Three Months						Six Months
	2017			2016			2017			2016
Net unrealized gains (losses) on cash flow hedges, net of taxes, beginning of period	$	7		$	2		$	2		$	(1	)
Change in fair value, net of tax	(3		)	—			3			4
Reclassification into earnings, net of tax	(3		)	(1		)	(4		)	(2		)
Net unrealized gains on cash flow hedges, net of taxes, end of period	$	1		$	1		$	1		$	1

Employee Benefits (Tables)

6 Months Ended

Jun. 30, 2017

Compensation and Retirement Disclosure [Abstract]

Components of net periodic benefit cost (credit) for our retirement plans and postretirement plans

The components of net periodic benefit cost (credit) for our retirement plans and postretirement plans for the periods ended June 30 are as follows:

Retirement Plans



(in millions)	Three Months						Six Months
	2017			2016			2017			2016
Service cost	$	1		$	1		$	1		$	1
Interest cost	19			19			37			39
Expected return on assets	(32		)	(31		)	(63		)	(61		)
Amortization of actuarial loss	4			4			9			8
Net periodic benefit cost	$	(8	)	$	(7	)	$	(16	)	$	(13	)

Postretirement Plans



(in millions)	Three Months						Six Months
	2017			2016			2017			2016
Service cost	$	—		$	—		$	—		$	—
Interest cost	—			1			1			1
Amortization of prior service credit / actuarial gain	(1		)	(1		)	(2		)	(1		)
Net periodic benefit cost	$	(1	)	$	—		$	(1	)	$	—

Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-based compensation

Stock-based compensation for the periods ended June 30 is as follows:



(in millions)	Three Months				Six Months
	2017		2016		2017		2016
Stock option expense	$	—	$	2	$	2	$	4
Restricted stock and unit awards expense	21		18		39		30
Total stock-based compensation expense	$	21	$	20	$	41	$	34

Equity (Tables)

6 Months Ended

Jun. 30, 2017

Equity [Abstract]

Schedule of share repurchases

Share repurchases for the periods ended June 30 were as follows:



(in millions, except average price)	Three Months				Six Months
	2017		2016		2017		2016
Total number of shares purchased	1.1		1.4		2.6		3.5
Average price paid per share ¹	$	137.49	$	107.74	$	133.01	$	98.05
Total cash utilized ¹	$	145	$	147	$	346	$	347


¹	In December of 2015, 0.3 million shares were repurchased for approximately $26 million, which settled in January of 2016. Cash used for financing activities only reflects those shares which settled during the six months ended June 30, 2016 resulting in $373 million of cash used to repurchase shares.

Schedule of redeemable noncontrolling interest

Changes to redeemable noncontrolling interest during the six months ended June 30, 2017 were as follows:



(in millions)
Balance as of December 31, 2016	$	1,080
Net income attributable to noncontrolling interest	61
Distributions payable to noncontrolling interest	(36		)
Redemption value adjustment	2
Balance as of June 30, 2017	$	1,107

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 six months ended June 30, 2017:



(in millions)	Foreign Currency Translation Adjustment			Pension and Postretirement Benefit Plans				Unrealized Gain (Loss) on Forward Exchange Contracts				Accumulated Other Comprehensive Loss
Balance as of December 31, 2016	$	(332	)	$	(443	)		$	2			$	(773	)
Other comprehensive income before reclassifications	72			(1		)		1				72
Reclassifications from accumulated other comprehensive loss to net earnings	—			6			¹	(4		)	²	2
Net other comprehensive income	72			5				(3		)		74
Balance as of June 30, 2017	$	(260	)	$	(438	)		$	(1	)		$	(699	)


¹	See Note 6 — Employee Benefits for additional details of items reclassed from accumulated other comprehensive loss to net earnings.


²	See Note 5 — Derivative Instruments for additional details of items reclassed from accumulated other comprehensive loss to net earnings.

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2017

Earnings Per Share [Abstract]

Schedule of calculation for basic and diluted EPS

The calculation for basic and diluted EPS for the periods ended June 30 is as follows:



(in millions, except per share amounts)	Three Months				Six Months
	2017		2016		2017		2016
Amounts attributable to S&P Global Inc. common shareholders:
Net income	$	421	$	383	$	820	$	677

Basic weighted-average number of common shares outstanding	257.3		264.5		257.7		264.7
Effect of stock options and other dilutive securities	2.6		2.2		2.7		2.3
Diluted weighted-average number of common shares outstanding	259.9		266.7		260.4		267.0

Earnings per share attributable to S&P Global Inc. common shareholders:
Net income:
Basic	$	1.63	$	1.45	$	3.18	$	2.56
Diluted	$	1.62	$	1.44	$	3.15	$	2.54

Restructuring (Tables)

6 Months Ended

Jun. 30, 2017

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 June 30, 2017 by segment is as follows:



	2017 Restructuring Plans				2016 Restructuring Plans
(in millions)	Initial Charge Recorded		Ending Reserve Balance		Initial Charge Recorded		Ending Reserve Balance
Ratings	$	—	$	—	$	14	$	7
Market and Commodities Intelligence	5		4		10		4
Indices	—		—		1		—
Corporate	—		—		5		3
Total	$	5	$	4	$	30	$	14

Segment and Related Information (Tables)

6 Months Ended

Jun. 30, 2017

Segment Reporting [Abstract]

Schedule of operating results by segment

A summary of operating results by segment for the periods ended June 30 is as follows:



Three Months	2017						2016
(in millions)	Revenue			Operating Profit			Revenue			Operating Profit
Ratings ¹	$	747		$	397		$	682		$	396
Market and Commodities Intelligence ²	606			191			671			186
Indices ³	184			119			153			100
Intersegment elimination ⁴	(28		)	—			(24		)	—
Total operating segments	1,509			707			1,482			682
Unallocated expense ⁵	—			(30		)	—			(31		)
Total	$	1,509		$	677		$	1,482		$	651



Six Months	2017						2016
(in millions)	Revenue			Operating Profit			Revenue			Operating Profit
Ratings ¹	$	1,461		$	773		$	1,234		$	658
Market and Commodities Intelligence ²	1,199			378			1,333			369
Indices ³	355			233			304			200
Intersegment elimination ⁴	(53		)	—			(48		)	—
Total operating segments	2,962			1,384			2,823			1,227
Unallocated expense ⁵	—			(60		)	—			(64		)
Total	$	2,962		$	1,324		$	2,823		$	1,163

¹

Operating profit for the six months ended June 30, 2017 includes legal settlement expenses of $2 million. Operating profit for the three and six months ended June 30, 2016 includes a benefit related to net legal settlement insurance recoveries of $34 million and $46 million, respectively, and employee severance charges of $6 million. Operating profit also includes amortization of intangibles from acquisitions of $1 million for the three months ended June 30, 2017 and 2016 and $2 million and $3 million for the six months ended June 30, 2017 and 2016, respectively.

²

Operating profit includes a charge to exit a leased facility of $6 million, employee severance charges of $5 million and an asset write-off of $2 million for the three and six months ended June 30, 2017 and non-cash acquisition and disposition-related adjustments of $15 million for the six months ended June 30, 2017. Operating profit includes disposition-related costs of $10 million and $12 million for the three and six months ended June 30, 2016, respectively, and a technology-related impairment charge of $24 million for the six months ended June 30, 2016. Operating profit also includes amortization of intangibles from acquisitions of $23 million and $21 million for the three months ended June 30, 2017 and 2016, respectively, and $44 million and $41 million for the six months ended June 30, 2017 and 2016, respectively.


³	Operating profit includes amortization of intangibles from acquisitions of $1 million for the three months ended June 30, 2017 and 2016 and $3 million for the six months ended June 30, 2017 and 2016.


⁴	Revenue for Ratings and expenses for Market and Commodities Intelligence include an intersegment royalty charged to Market and Commodities Intelligence for the rights to use and distribute content and data developed by Ratings.


⁵	Operating profit for the three and six months ended June 30, 2016 includes $3 million from a disposition-related reserve release.

Revenue by geographic region

The following provides revenue by geographic region for the periods ended June 30:



(in millions)	Three Months				Six Months
	2017		2016		2017		2016
U.S.	$	922	$	910	$	1,813	$	1,750
European region	360		339		706		636
Asia	142		156		275		293
Rest of the world	85		77		168		144
Total	$	1,509	$	1,482	$	2,962	$	2,823

Condensed Consolidating Financial Statements (Tables)

6 Months Ended

Jun. 30, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Statement of Income



	Statement of Income
	Three Months Ended June 30, 2017
	(Unaudited)
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
Revenue	$	181		$	447		$	916		$	(35	)	$	1,509
Expenses:
Operating-related expenses	39			115			330			(35		)	449
Selling and general expenses	26			83			229			—			338
Depreciation	8			3			9			—			20
Amortization of intangibles	—			—			25			—			25
Total expenses	73			201			593			(35		)	832
Operating profit	108			246			323			—			677
Interest expense (income), net	40			—			(3		)	—			37
Non-operating intercompany transactions	93			(22		)	(726		)	655			—
Income before taxes on income	(25		)	268			1,052			(655		)	640
(Benefit) provision for taxes on income	(36		)	119			100			—			183
Equity in net income of subsidiaries	1,064			—			—			(1,064		)	—
Net income	$	1,075		$	149		$	952		$	(1,719	)	$	457
Less: net income attributable to noncontrolling interests	—			—			—			(36		)	(36		)
Net income attributable to S&P Global Inc.	$	1,075		$	149		$	952		$	(1,755	)	$	421
Comprehensive income	$	1,085		$	148		$	972		$	(1,712	)	$	493



	Statement of Income
	Six Months Ended June 30, 2017
	(Unaudited)
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
Revenue	$	361		$	885		$	1,783		$	(67	)	$	2,962
Expenses:
Operating-related expenses	71			234			623			(67		)	861
Selling and general expenses	45			172			472			—			689
Depreciation	15			5			19			—			39
Amortization of intangibles	—			—			49			—			49
Total expenses	131			411			1,163			(67		)	1,638
Operating profit	230			474			620			—			1,324
Interest expense (income), net	79			—			(5		)	—			74
Non-operating intercompany transactions	175			(41		)	(1,626		)	1,492			—
Income before taxes on income	(24		)	515			2,251			(1,492		)	1,250
(Benefit) provision for taxes on income	(47		)	218			192			—			363
Equity in net income of subsidiaries	2,288			—			—			(2,288		)	—
Net income	$	2,311		$	297		$	2,059		$	(3,780	)	$	887
Less: net income attributable to noncontrolling interests	—			—			—			(67		)	(67		)
Net income attributable to S&P Global Inc.	$	2,311		$	297		$	2,059		$	(3,847	)	$	820
Comprehensive income	$	2,323		$	296		$	2,118		$	(3,776	)	$	961



	Statement of Income
	Three Months Ended June 30, 2016
	(Unaudited)
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
Revenue	$	171		$	413		$	930		$	(32	)	$	1,482
Expenses:
Operating-related expenses	26			93			382			(32		)	469
Selling and general expenses	33			62			222			—			317
Depreciation	10			2			10			—			22
Amortization of intangibles	—			—			23			—			23
Total expenses	69			157			637			(32		)	831
Operating profit	102			256			293			—			651
Interest expense (income), net	44			—			(2		)	—			42
Non-operating intercompany transactions	95			(37		)	(199		)	141			—
(Loss) income before taxes on income	(37		)	293			494			(141		)	609
(Benefit) provision for taxes on income	(17		)	111			103			—			197
Equity in net income of subsidiaries	617			72			—			(689		)	—
Net income	$	597		$	254		$	391		$	(830	)	$	412
Less: net income attributable to noncontrolling interests	—			—			—			(29		)	(29		)
Net income attributable to S&P Global Inc.	$	597		$	254		$	391		$	(859	)	$	383
Comprehensive income	$	545		$	261		$	409		$	(850	)	$	365



	Statement of Income
	Six Months Ended June 30, 2016
	(Unaudited)
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
Revenue	$	342		$	754		$	1,789		$	(62	)	$	2,823
Expenses:
Operating-related expenses	49			231			705			(62		)	923
Selling and general expenses	54			97			499			—			650
Depreciation	19			5			16			—			40
Amortization of intangibles	—			—			47			—			47
Total expenses	122			333			1,267			(62		)	1,660
Operating profit	220			421			522			—			1,163
Interest expense (income), net	86			—			(3		)	—			83
Non-operating intercompany transactions	169			(42		)	(697		)	570			—
(Loss) income before taxes on income	(35		)	463			1,222			(570		)	1,080
(Benefit) provision for taxes on income	(18		)	167			196			—			345
Equity in net income of subsidiaries	1,408			144			—			(1,552		)	—
Net income	$	1,391		$	440		$	1,026		$	(2,122	)	$	735
Less: net income attributable to noncontrolling interests	—			—			—			(58		)	(58		)
Net income attributable to S&P Global Inc.	$	1,391		$	440		$	1,026		$	(2,180	)	$	677
Comprehensive income	$	1,347		$	446		$	1,055		$	(2,140	)	$	708

Balance Sheet



	Balance Sheet
	June 30, 2017
	(Unaudited)
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	509		$	—		$	1,875		$	—		$	2,384
Accounts receivable, net of allowance for doubtful accounts	123			191			852			—			1,166
Intercompany receivable	679			1,498			1,982			(4,159		)	—
Prepaid and other current assets	96			(2		)	79			—			173
Total current assets	1,407			1,687			4,788			(4,159		)	3,723
Property and equipment, net of accumulated depreciation	148			1			115			—			264
Goodwill	260			—			2,706			16			2,982
Other intangible assets, net	—			—			1,442			—			1,442
Investments in subsidiaries	6,681			5			8,920			(15,606		)	—
Intercompany loans receivable	109			—			1,075			(1,184		)	—
Other non-current assets	165			29			186			—			380
Total assets	$	8,770		$	1,722		$	19,232		$	(20,933	)	$	8,791
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	57		$	14		$	91		$	—		$	162
Intercompany payable	2,604			443			1,111			(4,158		)	—
Accrued compensation and contributions to retirement plans	104			47			143			—			294
Income taxes currently payable	8			—			71			—			79
Unearned revenue	274			220			1,008			—			1,502
Other current liabilities	137			12			176			—			325
Total current liabilities	3,184			736			2,600			(4,158		)	2,362
Long-term debt	3,566			—			—			—			3,566
Intercompany loans payable	103			—			1,081			(1,184		)	—
Pension and other postretirement benefits	198			—			71			—			269
Other non-current liabilities	40			70			304			—			414
Total liabilities	7,091			806			4,056			(5,342		)	6,611
Redeemable noncontrolling interest	—			—			—			1,107			1,107
Equity:
Common stock	412			—			2,292			(2,292		)	412
Additional paid-in capital	(211		)	588			11,392			(11,279		)	490
Retained income	10,759			328			1,986			(3,257		)	9,816
Accumulated other comprehensive loss	(281		)	—			(467		)	49			(699		)
Less: common stock in treasury	(9,000		)	—			(28		)	28			(9,000		)
Total equity - controlling interests	1,679			916			15,175			(16,751		)	1,019
Total equity - noncontrolling interests	—			—			1			53			54
Total equity	1,679			916			15,176			(16,698		)	1,073
Total liabilities and equity	$	8,770		$	1,722		$	19,232		$	(20,933	)	$	8,791



	Balance Sheet
	December 31, 2016
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	711		$	—		$	1,681		$	—		$	2,392
Accounts receivable, net of allowance for doubtful accounts	138			131			853			—			1,122
Intercompany receivable	(165		)	837			870			(1,542		)	—
Prepaid and other current assets	77			2			79			(1		)	157
Total current assets	761			970			3,483			(1,543		)	3,671
Property and equipment, net of accumulated depreciation	159			1			111			—			271
Goodwill	261			—			2,679			9			2,949
Other intangible assets, net	—			—			1,506			—			1,506
Investments in subsidiaries	5,464			680			7,826			(13,970		)	—
Intercompany loans receivable	17			—			1,354			(1,371		)	—
Other non-current assets	134			24			114			—			272
Total assets	$	6,796		$	1,675		$	17,073		$	(16,875	)	$	8,669
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	73		$	22		$	88		$	—		$	183
Intercompany payable	1,324			40			177			(1,541		)	—
Accrued compensation and contributions to retirement plans	129			69			211			—			409
Income taxes currently payable	43			—			52			—			95
Unearned revenue	273			191			1,045			—			1,509
Other current liabilities	165			(51		)	301			—			415
Total current liabilities	2,007			271			1,874			(1,541		)	2,611
Long-term debt	3,564			—			—			—			3,564
Intercompany loans payable	11			—			1,360			(1,371		)	—
Pension and other postretirement benefits	196			—			78			—			274
Other non-current liabilities	52			74			314			(1		)	439
Total liabilities	5,830			345			3,626			(2,913		)	6,888
Redeemable noncontrolling interest	—			—			—			1,080			1,080
Equity:
Common stock	412			—			2,460			(2,460		)	412
Additional paid-in capital	(174		)	1,154			10,485			(10,963		)	502
Retained income	9,721			176			1,034			(1,721		)	9,210
Accumulated other comprehensive loss	(292		)	—			(525		)	44			(773		)
Less: common stock in treasury	(8,701		)	—			(7		)	7			(8,701		)
Total equity - controlling interests	966			1,330			13,447			(15,093		)	650
Total equity - noncontrolling interests	—			—			—			51			51
Total equity	966			1,330			13,447			(15,042		)	701
Total liabilities and equity	$	6,796		$	1,675		$	17,073		$	(16,875	)	$	8,669

Statement of Cash Flows



	Statement of Cash Flows
	Six Months Ended June 30, 2017
	(Unaudited)
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
Operating Activities:
Net income	$	2,311		$	297		$	2,059		$	(3,780	)	$	887
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	15			5			19			—			39
Amortization of intangibles	—			—			49			—			49
Provision for losses on accounts receivable	—			4			9			—			13
Stock-based compensation	14			10			17			—			41
Other	17			—			9			—			26
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable	14			(63		)	—			—			(49		)
Prepaid and other current assets	(18		)	3			2			—			(13		)
Accounts payable and accrued expenses	(40		)	34			(133		)	—			(139		)
Unearned revenue	1			28			(46		)	—			(17		)
Accrued legal settlements	—			(1		)	(3		)	—			(4		)
Other current liabilities	(33		)	(4		)	(48		)	—			(85		)
Net change in prepaid/accrued income taxes	(55		)	—			10			—			(45		)
Net change in other assets and liabilities	(17		)	1			(13		)	—			(29		)
Cash provided by operating activities	2,209			314			1,931			(3,780		)	674
Investing Activities:
Capital expenditures	(19		)	(10		)	(27		)	—			(56		)
Acquisitions, net of cash acquired	—			—			(70		)	—			(70		)
Proceeds from dispositions	—			—			2			—			2
Cash used for investing activities	(19		)	(10		)	(95		)	—			(124		)
Financing Activities:
Dividends paid to shareholders	(212		)	—			—			—			(212		)
Distributions to noncontrolling interest holders	—			—			(54		)	—			(54		)
Repurchase of treasury shares	(346		)	—			—			—			(346		)
Exercise of stock options	38			—			—			—			38
Employee withholding tax on share-based payments	(44		)	—			—			—			(44		)
Intercompany financing activities	(1,842		)	(304		)	(1,634		)	3,780			—
Cash used for financing activities	(2,406		)	(304		)	(1,688		)	3,780			(618		)
Effect of exchange rate changes on cash from continuing operations	14			—			46			—			60
Net change in cash and cash equivalents	(202		)	—			194			—			(8		)
Cash and cash equivalents at beginning of period	711			—			1,681			—			2,392
Cash and cash equivalents at end of period	$	509		$	—		$	1,875		$	—		$	2,384



	Statement of Cash Flows
	Six Months Ended June 30, 2016
	(Unaudited)
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
Operating Activities:
Net income	$	1,391		$	440		$	1,026		$	(2,122	)	$	735
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	19			5			16			—			40
Amortization of intangibles	—			—			47			—			47
Provision for losses on accounts receivable	1			1			6			—			8
Stock-based compensation	10			7			17			—			34
Other	(1		)	8			36			—			43
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable	(7		)	148			(180		)	—			(39		)
Prepaid and other current assets	(21		)	13			(6		)	—			(14		)
Accounts payable and accrued expenses	(26		)	(98		)	(47		)	—			(171		)
Unearned revenue	18			(375		)	395			—			38
Accrued legal settlements	—			(108		)	—			—			(108		)
Other current liabilities	(23		)	(25		)	27			—			(21		)
Net change in prepaid/accrued income taxes	83			—			9			—			92
Net change in other assets and liabilities	(31		)	27			(40		)	—			(44		)
Cash provided by operating activities	1,413			43			1,306			(2,122		)	640
Investing Activities:
Capital expenditures	(16		)	(7		)	(13		)	—			(36		)
Acquisitions, net of cash acquired	(40		)	—			(12		)	—			(52		)
Cash used for investing activities	(56		)	(7		)	(25		)	—			(88		)
Financing Activities:
Additions to short-term debt, net	166			—			—			—			166
Dividends paid to shareholders	(191		)	—			—			—			(191		)
Distributions to noncontrolling interest holders	—			—			(57		)	—			(57		)
Repurchase of treasury shares	(373		)	—			—			—			(373		)
Exercise of stock options	64			—			1			—			65
Employee withholding tax on share-based payments	(50		)	—			—			—			(50		)
Intercompany financing activities	(1,038		)	(36		)	(1,048		)	2,122			—
Cash used for financing activities	(1,422		)	(36		)	(1,104		)	2,122			(440		)
Effect of exchange rate changes on cash from continuing operations	(40		)	—			14			—			(26		)
Net change in cash and cash equivalents	(105		)	—			191			—			86
Cash and cash equivalents at beginning of period	167			—			1,314			—			1,481
Cash and cash equivalents at end of period	$	62		$	—		$	1,505		$	—		$	1,567

Nature of Operations and Basis of Presentation (Details)	6 Months Ended
	Jun. 30, 2017 Segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	3

Acquisitions and Divestitures - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2017	Apr. 30, 2017	Jun. 30, 2016
Schedule of Equity Method Investments [Line Items]
Assets held for sale		$ 5
CARE Ratings Limited
Schedule of Equity Method Investments [Line Items]
Fair value method investment, ownership (as a percent)	8.90%
TRIS Rating Company Limited
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership (as a percent)			49.00%
Other Noncurrent Assets \| CARE Ratings Limited
Schedule of Equity Method Investments [Line Items]
Investment balance	$ 65

Acquisitions and Divestitures - Components of Assets and Liabilities, and Operating Loss, of Businesses Held for Sale (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Operating Loss of Business Disposed of
Operating loss	$ 0	$ (5)	$ 0	$ (12)
Quant House SAS \| Disposal Group, Held-for-sale, Not Discontinued Operations
Assets and Liabilities of Business Held for Sale
Accounts receivable, net					$ 4
Other assets					3
Assets of a business held for sale					7
Accounts payable and accrued expenses					3
Unearned revenue					7
Other liabilities					35
Liabilities of a business held for sale					$ 45

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	28.60%	32.30%	29.10%	31.90%
Unrecognized tax benefits	$ 139		$ 139		$ 161
Accrued interest and penalties associated with unrecognized tax benefits	49		49		$ 44
Reduction of unrecognized tax benefits is reasonably possible	$ 32		$ 32

Debt - Schedule of Debt (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016	Sep. 22, 2016	May 26, 2015
Debt Instrument [Line Items]
Total debt	$ 3,566,000,000	$ 3,564,000,000
Less: short-term debt including current maturities	0	0
Long-term debt	3,566,000,000	3,564,000,000
Commercial paper \| Five-Year Credit Agreement
Debt Instrument [Line Items]
Short-term debt	$ 0	0
Senior notes \| 2.5% Senior Notes, due 2018
Debt Instrument [Line Items]
Stated interest rate	2.50%
Long-term debt	$ 399,000,000	398,000,000
Unamortized debt discount and issuance costs	$ 1,000,000
Senior notes \| 3.3% Senior Notes, due 2020
Debt Instrument [Line Items]
Stated interest rate	3.30%
Long-term debt	$ 696,000,000	696,000,000
Unamortized debt discount and issuance costs	$ 4,000,000
Senior notes \| 4.0% Senior Notes, due 2025
Debt Instrument [Line Items]
Stated interest rate	4.00%			4.00%
Long-term debt	$ 691,000,000	691,000,000
Unamortized debt discount and issuance costs	$ 9,000,000
Senior notes \| 4.4% Senior Notes, due 2026
Debt Instrument [Line Items]
Stated interest rate	4.40%
Long-term debt	$ 892,000,000	891,000,000
Unamortized debt discount and issuance costs	$ 8,000,000
Senior notes \| 2.95% Senior Notes, due 2027
Debt Instrument [Line Items]
Stated interest rate	2.95%		2.95%
Long-term debt	$ 492,000,000	492,000,000
Unamortized debt discount and issuance costs	$ 8,000,000
Senior notes \| 6.55% Senior Notes, due 2037
Debt Instrument [Line Items]
Stated interest rate	6.55%
Long-term debt	$ 396,000,000	$ 396,000,000
Unamortized debt discount and issuance costs	$ 4,000,000

Debt - Narrative (Details)		6 Months Ended
Debt - Narrative (Details)	Jun. 30, 2017 USD ($)	Jun. 30, 2017 USD ($)	Dec. 31, 2016 USD ($)
Debt Instrument [Line Items]
Long-term debt, fair value	$ 3,800,000,000	$ 3,800,000,000	$ 3,700,000,000
Five-Year Credit Agreement \| Maximum
Debt Instrument [Line Items]
Indebtedness to cash flow (not greater than)		4
Five-Year Credit Agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	1,200,000,000.0	$ 1,200,000,000.0
Outstanding borrowings	$ 0	$ 0
Credit facility, term (in years)	5 years
Commitment fee		0.125%
Five-Year Credit Agreement \| Revolving Credit Facility \| Minimum
Debt Instrument [Line Items]
Commitment fee		0.08%
Five-Year Credit Agreement \| Revolving Credit Facility \| Maximum
Debt Instrument [Line Items]
Commitment fee		0.175%
Five-Year Credit Agreement \| Commercial paper
Debt Instrument [Line Items]
Short-term debt	$ 0	$ 0	$ 0
Five Year Facility, Due June 30, 2020 \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 1,200,000,000.0	$ 1,200,000,000.0
Credit facility, term (in years)	5 years

Derivative Instruments - Narrative (Details) - Cash Flow Hedging - Designated as Hedging Instrument - Foreign exchange forward contracts - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Derivative [Line Items]
Net gains related to derivatives recorded in other comprehensive income (loss) expected to be reclassified into earnings	$ 1
Aggregate notional value	$ 192	$ 96

Derivative Instruments - Location and Fair Values of Cash Flow Hedges (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Cash Flow Hedging \| Foreign exchange forward contracts \| Designated as Hedging Instrument \| Prepaid and other current assets
Derivatives, Fair Value [Line Items]
Derivative, fair value	$ 3	$ 3

Derivative Instruments - Location and Amounts of Pre-Tax Gains (Losses) on Cash Flow Hedges (Details) - Foreign exchange forward contracts - Designated as Hedging Instrument - Cash Flow Hedging - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss (effective portion)	$ (6)	$ (1)	$ (1)	$ 2
Selling and general expenses
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion)	$ 3	$ 1	$ 4	$ 2

Derivative Instruments - Change in Unrealized (Losses) Gains in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Net unrealized gains (losses) on cash flow hedges, net of taxes, beginning of period			$ 650
Net unrealized gains on cash flow hedges, net of taxes, end of period	$ 1,019		1,019
Unrealized Gain (Loss) on Forward Exchange Contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Net unrealized gains (losses) on cash flow hedges, net of taxes, beginning of period	7	$ 2	2	$ (1)
Change in fair value, net of tax	(3)	0	3	4
Reclassification into earnings, net of tax	(3)	(1)	(4)	(2)
Net unrealized gains on cash flow hedges, net of taxes, end of period	$ 1	$ 1	$ 1	$ 1

Employee Benefits - Components of Net Periodic Benefit Cost (Credit) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Retirement Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1	$ 1	$ 1	$ 1
Interest cost	19	19	37	39
Expected return on plan assets	(32)	(31)	(63)	(61)
Amortization of actuarial loss	4	4	9	8
Net periodic benefit cost	(8)	(7)	(16)	(13)
Postretirement Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0	0	0
Interest cost	0	1	1	1
Amortization of actuarial loss	(1)	(1)	(2)	(1)
Net periodic benefit cost	$ (1)	$ 0	$ (1)	$ 0

Employee Benefits - Narrative (Details) $ in Millions	6 Months Ended
Employee Benefits - Narrative (Details) $ in Millions	Jun. 30, 2017 USD ($)
Compensation and Retirement Disclosure [Abstract]
Contribution towards retirement plans	$ 4
Expected contributions towards retirement plans, remainder of the year	$ 4

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 21	$ 20	$ 41	$ 34
Stock option expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	0	2	2	4
Restricted stock and unit awards expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	21	$ 18	$ 39	$ 30
Award grants (in shares)			0.4
Award grants, weighted average grant date fair value (in dollars per share)			$ 129.47
Unrecognized compensation expense	$ 88		$ 88
Unrecognized compensation expense, period for recognition			1 year 10 months 24 days

Equity - Narrative (Details) - shares	6 Months Ended
Equity - Narrative (Details) - shares	Jun. 30, 2017	Dec. 04, 2013
Share-based Compensation Arrangement by Share-based Payment Award [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 (in days)	15 days
2013 Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized for repurchase (in shares)		50,000,000
Shares authorized for repurchase, compared to total common stock outstanding (as a percent)		18.00%
Remaining shares available under repurchase program	23,200,000
S&P Dow Jones LLC
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Noncontrolling interest ownership by noncontrolling owners (as a percent)	27.00%

Equity - Schedule of share repurchases (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares purchased	0.3	1.1	1.4	2.6	3.5
Average price paid per share (in dollars per share)		$ 137.49	$ 107.74	$ 133.01	$ 98.05
Total cash utilized	$ 26			$ 346
Cash used to repurchase shares				346	$ 373
Stock Repurchases
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash used to repurchase shares				373
Total SPGI Equity
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total cash utilized		$ 145	$ 147	$ 346	$ 347

Equity - Schedule of changes to redeemable noncontrolling interest (Details) $ in Millions	6 Months Ended
	Jun. 30, 2017 USD ($)
Increase (Decrease) in Temporary Equity [Roll Forward]
Balance as of December 31, 2016	$ 1,080
Net income attributable to noncontrolling interest	61
Distributions payable to noncontrolling interest	(36)
Redemption value adjustment	2
Balance as of June 30, 2017	$ 1,107

Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance as of December 31, 2016			$ 701
Balance as of June 30, 2017	$ 1,073		1,073
Pension and other postretirement benefit plans, tax	(2)	$ 3	(1)	$ 4
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance as of December 31, 2016			(332)
Other comprehensive income before reclassifications			72
Reclassifications from accumulated other comprehensive loss to net earnings			0
Net other comprehensive income			72
Balance as of June 30, 2017	(260)		(260)
Pension and Postretirement Benefit Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance as of December 31, 2016			(443)
Other comprehensive income before reclassifications			(1)
Reclassifications from accumulated other comprehensive loss to net earnings			6
Net other comprehensive income			5
Balance as of June 30, 2017	(438)		(438)
Pension and other postretirement benefit plans, tax			2
Unrealized Gain (Loss) on Forward Exchange Contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance as of December 31, 2016			2
Other comprehensive income before reclassifications			1
Reclassifications from accumulated other comprehensive loss to net earnings			(4)
Net other comprehensive income			(3)
Balance as of June 30, 2017	(1)		(1)
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance as of December 31, 2016			(773)
Other comprehensive income before reclassifications			72
Reclassifications from accumulated other comprehensive loss to net earnings			2
Net other comprehensive income			74
Balance as of June 30, 2017	$ (699)		$ (699)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Amounts attributable to S&P Global Inc. common shareholders:
Net income	$ 421	$ 383	$ 820	$ 677
Basic weighted-average number of common shares outstanding	257,300,000	264,500,000	257,700,000	264,700,000
Effect of stock options and other dilutive securities (in shares)	2,600,000	2,200,000	2,700,000	2,300,000
Diluted weighted-average number of common shares outstanding	259,900,000	266,700,000	260,400,000	267,000,000
Earnings per share attributable to S&P Global Inc. common shareholders:
Basic (in dollars per share)	$ 1.63	$ 1.45	$ 3.18	$ 2.56
Diluted (in dollars per share)	$ 1.62	$ 1.44	$ 3.15	$ 2.54
Employee stock option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding shares not included in the computation of diluted earnings per share	0	0	0	0
Restricted performance shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding shares not included in the computation of diluted earnings per share			900,000	1,200,000

Restructuring (Details) $ in Millions	3 Months Ended		6 Months Ended
Restructuring (Details) $ in Millions	Jun. 30, 2017 USD ($)	Jun. 30, 2016 USD ($)	Jun. 30, 2017 USD ($) position	Jun. 30, 2016 USD ($)	Dec. 31, 2016 USD ($)
Ratings
Restructuring Cost and Reserve [Line Items]
Employee termination charges		$ 6		$ 6
Market and Commodities Intelligence
Restructuring Cost and Reserve [Line Items]
Employee termination charges	$ 5		$ 5
2017 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Workforce reduction (in positions) \| position			120
Initial Charge Recorded			$ 5
Employee termination charges			5
Reduction of reserve			1
Ending Reserve Balance	4		4
Reserve balance	4		4
2017 Restructuring Plan \| Ratings
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			0
Ending Reserve Balance	0		0
Reserve balance	0		0
2017 Restructuring Plan \| Market and Commodities Intelligence
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			5
Ending Reserve Balance	4		4
Reserve balance	4		4
2017 Restructuring Plan \| Indices
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			0
Ending Reserve Balance	0		0
Reserve balance	0		0
2017 Restructuring Plan \| Corporate
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			0
Ending Reserve Balance	0		0
Reserve balance	0		$ 0
2016 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Workforce reduction (in positions) \| position			230
Initial Charge Recorded			$ 30
Ending Reserve Balance	14		14
Reserve balance	14		14		$ 23
Restructuring charges paid			9
2016 Restructuring Plan \| Ratings
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			14
Ending Reserve Balance	7		7
Reserve balance	7		7
2016 Restructuring Plan \| Market and Commodities Intelligence
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			10
Ending Reserve Balance	4		4
Reserve balance	4		4
2016 Restructuring Plan \| Indices
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			1
Ending Reserve Balance	0		0
Reserve balance	0		0
2016 Restructuring Plan \| Corporate
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			5
Ending Reserve Balance	3		3
Reserve balance	$ 3		$ 3

Segment and Related Information - Operating Results by Segment (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017 USD ($)	Jun. 30, 2016 USD ($)	Jun. 30, 2017 USD ($) Segment	Jun. 30, 2016 USD ($)
Segment Reporting [Abstract]
Number of reportable segments \| Segment			3
Segment Reporting Information [Line Items]
Revenue	$ 1,509	$ 1,482	$ 2,962	$ 2,823
Operating Profit	677	651	1,324	1,163
Amortization of intangibles	25	23	49	47
Ratings
Segment Reporting Information [Line Items]
Legal settlement			2
Insurance recoveries		34		46
Employee termination charges		6		6
Amortization of intangibles	1	1	2	3
Market and Commodities Intelligence
Segment Reporting Information [Line Items]
Employee termination charges	5		5
Amortization of intangibles	23	21	44	41
Charge to exit a leased facility	6		6
Asset write off	2		2
Non-cash acquisition and disposition-related adjustments			15
Disposition-related gain (loss)		(10)		(12)
Technology-related impairment charge				24
Indices
Segment Reporting Information [Line Items]
Amortization of intangibles	1	1	3	3
Segment reconciling items
Segment Reporting Information [Line Items]
Disposition-related gain (loss)		3		3
Operating segments
Segment Reporting Information [Line Items]
Revenue	1,509	1,482	2,962	2,823
Operating Profit	707	682	1,384	1,227
Operating segments \| Ratings
Segment Reporting Information [Line Items]
Revenue	747	682	1,461	1,234
Operating Profit	397	396	773	658
Operating segments \| Market and Commodities Intelligence
Segment Reporting Information [Line Items]
Revenue	606	671	1,199	1,333
Operating Profit	191	186	378	369
Operating segments \| Indices
Segment Reporting Information [Line Items]
Revenue	184	153	355	304
Operating Profit	119	100	233	200
Intersegment eliminations
Segment Reporting Information [Line Items]
Revenue	(28)	(24)	(53)	(48)
Operating Profit	0	0	0	0
Segment reconciling items
Segment Reporting Information [Line Items]
Revenue	0	0	0	0
Operating Profit	$ (30)	$ (31)	$ (60)	$ (64)

Segment and Related Information - Revenue by Geographic Region (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 1,509	$ 1,482	$ 2,962	$ 2,823
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	922	910	1,813	1,750
European region
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	360	339	706	636
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	142	156	275	293
Rest of the world
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 85	$ 77	$ 168	$ 144

Commitments and Contingencies (Details) $ in Millions	3 Months Ended	6 Months Ended
Commitments and Contingencies (Details) $ in Millions	Jun. 30, 2017 USD ($) lawsuit	Jun. 30, 2017 USD ($) lawsuit	Jan. 31, 2016 employee	Aug. 31, 2015 shareholder
Financial Crisis Litigation
Loss Contingencies [Line Items]
Number of lawsuits \| lawsuit	7	7
Shareholder Derivative Action
Loss Contingencies [Line Items]
Number of shareholders commencing punitive derivative action \| shareholder				2
CME Group \| S&P DJ Indices
Loss Contingencies [Line Items]
Revenues earned under license agreement \| $	$ 20	$ 38
Noncontrolling interest ownership by noncontrolling owners (as a percent)	27.00%	27.00%
S&P Global Ratings \| Shareholder Derivative Action
Loss Contingencies [Line Items]
Number of former employees named as defendants \| employee			9

Recently Issued or Adopted Accounting Standards (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Excess tax benefits	$ 17
Reclassified financing activity in cash flow	(618)	$ (440)
Reclassified operating activity in cash flow	674	640
Accounting Standards Update 2016-09, Excess Tax Benefit Component
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassified financing activity in cash flow		(19)
Reclassified operating activity in cash flow		19
Accounting Standards Update 2016-09, Cash Flow Classifications Component
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassified financing activity in cash flow	$ 44	50
Reclassified operating activity in cash flow		$ (50)

Condensed Consolidating Financial Statements - Narrative (Details) - USD ($)	Jun. 30, 2017	Sep. 22, 2016	Aug. 18, 2015	May 26, 2015
Condensed Financial Statements, Captions [Line Items]
Ownership interest of subsidiary (as a percent)	100.00%
Senior notes
Condensed Financial Statements, Captions [Line Items]
Debt issued			$ 2,000,000,000.0
Senior notes \| 2.95% Senior Notes due in 2027
Condensed Financial Statements, Captions [Line Items]
Debt issued		$ 500,000,000
Stated interest rate	2.95%	2.95%
Senior notes \| 4.0% Senior Notes due in 2025
Condensed Financial Statements, Captions [Line Items]
Debt issued				$ 700,000,000
Stated interest rate	4.00%			4.00%
Senior notes \| 2.5% Senior Notes due in 2018
Condensed Financial Statements, Captions [Line Items]
Debt issued			$ 400,000,000
Stated interest rate			2.50%
Senior notes \| 3.3% Senior Notes due in 2020
Condensed Financial Statements, Captions [Line Items]
Debt issued			$ 700,000,000
Stated interest rate			3.30%
Senior notes \| 4.4% Senior Notes due in 2026
Condensed Financial Statements, Captions [Line Items]
Debt issued			$ 900,000,000
Stated interest rate			4.40%

Condensed Consolidating Financial Statements - Statement of Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Condensed Income Statements, Captions [Line Items]
Revenue	$ 1,509	$ 1,482	$ 2,962	$ 2,823
Expenses:
Operating-related expenses	449	469	861	923
Selling and general expenses	338	317	689	650
Depreciation	20	22	39	40
Amortization of intangibles	25	23	49	47
Total expenses	832	831	1,638	1,660
Operating profit	677	651	1,324	1,163
Interest expense (income), net	37	42	74	83
Non-operating intercompany transactions	0	0	0	0
Income before taxes on income	640	609	1,250	1,080
(Benefit) provision for taxes on income	183	197	363	345
Equity in net income of subsidiaries	0	0	0	0
Net income	457	412	887	735
Less: net income attributable to noncontrolling interests	(36)	(29)	(67)	(58)
Net income attributable to S&P Global Inc.	421	383	820	677
Comprehensive income	493	365	961	708
Eliminations
Condensed Income Statements, Captions [Line Items]
Revenue	(35)	(32)	(67)	(62)
Expenses:
Operating-related expenses	(35)	(32)	(67)	(62)
Selling and general expenses	0	0	0	0
Depreciation	0	0	0	0
Amortization of intangibles	0	0	0	0
Total expenses	(35)	(32)	(67)	(62)
Operating profit	0	0	0	0
Interest expense (income), net	0	0	0	0
Non-operating intercompany transactions	655	141	1,492	570
Income before taxes on income	(655)	(141)	(1,492)	(570)
(Benefit) provision for taxes on income	0	0	0	0
Equity in net income of subsidiaries	(1,064)	(689)	(2,288)	(1,552)
Net income	(1,719)	(830)	(3,780)	(2,122)
Less: net income attributable to noncontrolling interests	(36)	(29)	(67)	(58)
Net income attributable to S&P Global Inc.	(1,755)	(859)	(3,847)	(2,180)
Comprehensive income	(1,712)	(850)	(3,776)	(2,140)
S&P Global Inc.
Condensed Income Statements, Captions [Line Items]
Revenue	181	171	361	342
Expenses:
Operating-related expenses	39	26	71	49
Selling and general expenses	26	33	45	54
Depreciation	8	10	15	19
Amortization of intangibles	0	0	0	0
Total expenses	73	69	131	122
Operating profit	108	102	230	220
Interest expense (income), net	40	44	79	86
Non-operating intercompany transactions	93	95	175	169
Income before taxes on income	(25)	(37)	(24)	(35)
(Benefit) provision for taxes on income	(36)	(17)	(47)	(18)
Equity in net income of subsidiaries	1,064	617	2,288	1,408
Net income	1,075	597	2,311	1,391
Less: net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to S&P Global Inc.	1,075	597	2,311	1,391
Comprehensive income	1,085	545	2,323	1,347
Standard & Poor's Financial Services LLC
Condensed Income Statements, Captions [Line Items]
Revenue	447	413	885	754
Expenses:
Operating-related expenses	115	93	234	231
Selling and general expenses	83	62	172	97
Depreciation	3	2	5	5
Amortization of intangibles	0	0	0	0
Total expenses	201	157	411	333
Operating profit	246	256	474	421
Interest expense (income), net	0	0	0	0
Non-operating intercompany transactions	(22)	(37)	(41)	(42)
Income before taxes on income	268	293	515	463
(Benefit) provision for taxes on income	119	111	218	167
Equity in net income of subsidiaries	0	72	0	144
Net income	149	254	297	440
Less: net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to S&P Global Inc.	149	254	297	440
Comprehensive income	148	261	296	446
Non-Guarantor Subsidiaries
Condensed Income Statements, Captions [Line Items]
Revenue	916	930	1,783	1,789
Expenses:
Operating-related expenses	330	382	623	705
Selling and general expenses	229	222	472	499
Depreciation	9	10	19	16
Amortization of intangibles	25	23	49	47
Total expenses	593	637	1,163	1,267
Operating profit	323	293	620	522
Interest expense (income), net	(3)	(2)	(5)	(3)
Non-operating intercompany transactions	(726)	(199)	(1,626)	(697)
Income before taxes on income	1,052	494	2,251	1,222
(Benefit) provision for taxes on income	100	103	192	196
Equity in net income of subsidiaries	0	0	0	0
Net income	952	391	2,059	1,026
Less: net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to S&P Global Inc.	952	391	2,059	1,026
Comprehensive income	$ 972	$ 409	$ 2,118	$ 1,055

Condensed Consolidating Financial Statements - Balance Sheet (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Assets, Current [Abstract]
Cash and cash equivalents	$ 2,384	$ 2,392	$ 1,567	$ 1,481
Accounts receivable, net of allowance for doubtful accounts	1,166	1,122
Intercompany receivable	0	0
Prepaid and other current assets	173	157
Total current assets	3,723	3,671
Property and equipment, net of accumulated depreciation	264	271
Goodwill	2,982	2,949
Other intangible assets, net	1,442	1,506
Investments in subsidiaries	0	0
Intercompany loans receivable	0	0
Other non-current assets	380	272
Total assets	8,791	8,669
Current liabilities:
Accounts payable	162	183
Intercompany payable	0	0
Accrued compensation and contributions to retirement plans	294	409
Income taxes currently payable	79	95
Unearned revenue	1,502	1,509
Other current liabilities	325	415
Total current liabilities	2,362	2,611
Long-term debt	3,566	3,564
Intercompany loans payable	0	0
Pension and other postretirement benefits	269	274
Other non-current liabilities	414	439
Total liabilities	6,611	6,888
Redeemable noncontrolling interest	1,107	1,080
Equity:
Common stock	412	412
Additional paid-in capital	490	502
Retained income	9,816	9,210
Accumulated other comprehensive loss	(699)	(773)
Less: common stock in treasury	(9,000)	(8,701)
Total equity — controlling interests	1,019	650
Total equity - noncontrolling interests	54	51
Total equity	1,073	701
Total liabilities and equity	8,791	8,669
Eliminations
Assets, Current [Abstract]
Cash and cash equivalents	0	0	0	0
Accounts receivable, net of allowance for doubtful accounts	0	0
Intercompany receivable	(4,159)	(1,542)
Prepaid and other current assets	0	(1)
Total current assets	(4,159)	(1,543)
Property and equipment, net of accumulated depreciation	0	0
Goodwill	16	9
Other intangible assets, net	0	0
Investments in subsidiaries	(15,606)	(13,970)
Intercompany loans receivable	(1,184)	(1,371)
Other non-current assets	0	0
Total assets	(20,933)	(16,875)
Current liabilities:
Accounts payable	0	0
Intercompany payable	(4,158)	(1,541)
Accrued compensation and contributions to retirement plans	0	0
Income taxes currently payable	0	0
Unearned revenue	0	0
Other current liabilities	0	0
Total current liabilities	(4,158)	(1,541)
Long-term debt	0	0
Intercompany loans payable	(1,184)	(1,371)
Pension and other postretirement benefits	0	0
Other non-current liabilities	0	(1)
Total liabilities	(5,342)	(2,913)
Redeemable noncontrolling interest	1,107	1,080
Equity:
Common stock	(2,292)	(2,460)
Additional paid-in capital	(11,279)	(10,963)
Retained income	(3,257)	(1,721)
Accumulated other comprehensive loss	49	44
Less: common stock in treasury	28	7
Total equity — controlling interests	(16,751)	(15,093)
Total equity - noncontrolling interests	53	51
Total equity	(16,698)	(15,042)
Total liabilities and equity	(20,933)	(16,875)
S&P Global Inc.
Assets, Current [Abstract]
Cash and cash equivalents	509	711	62	167
Accounts receivable, net of allowance for doubtful accounts	123	138
Intercompany receivable	679	(165)
Prepaid and other current assets	96	77
Total current assets	1,407	761
Property and equipment, net of accumulated depreciation	148	159
Goodwill	260	261
Other intangible assets, net	0	0
Investments in subsidiaries	6,681	5,464
Intercompany loans receivable	109	17
Other non-current assets	165	134
Total assets	8,770	6,796
Current liabilities:
Accounts payable	57	73
Intercompany payable	2,604	1,324
Accrued compensation and contributions to retirement plans	104	129
Income taxes currently payable	8	43
Unearned revenue	274	273
Other current liabilities	137	165
Total current liabilities	3,184	2,007
Long-term debt	3,566	3,564
Intercompany loans payable	103	11
Pension and other postretirement benefits	198	196
Other non-current liabilities	40	52
Total liabilities	7,091	5,830
Redeemable noncontrolling interest	0	0
Equity:
Common stock	412	412
Additional paid-in capital	(211)	(174)
Retained income	10,759	9,721
Accumulated other comprehensive loss	(281)	(292)
Less: common stock in treasury	(9,000)	(8,701)
Total equity — controlling interests	1,679	966
Total equity - noncontrolling interests	0	0
Total equity	1,679	966
Total liabilities and equity	8,770	6,796
Standard & Poor's Financial Services LLC
Assets, Current [Abstract]
Cash and cash equivalents	0	0	0	0
Accounts receivable, net of allowance for doubtful accounts	191	131
Intercompany receivable	1,498	837
Prepaid and other current assets	(2)	2
Total current assets	1,687	970
Property and equipment, net of accumulated depreciation	1	1
Goodwill	0	0
Other intangible assets, net	0	0
Investments in subsidiaries	5	680
Intercompany loans receivable	0	0
Other non-current assets	29	24
Total assets	1,722	1,675
Current liabilities:
Accounts payable	14	22
Intercompany payable	443	40
Accrued compensation and contributions to retirement plans	47	69
Income taxes currently payable	0	0
Unearned revenue	220	191
Other current liabilities	12	(51)
Total current liabilities	736	271
Long-term debt	0	0
Intercompany loans payable	0	0
Pension and other postretirement benefits	0	0
Other non-current liabilities	70	74
Total liabilities	806	345
Redeemable noncontrolling interest	0	0
Equity:
Common stock	0	0
Additional paid-in capital	588	1,154
Retained income	328	176
Accumulated other comprehensive loss	0	0
Less: common stock in treasury	0	0
Total equity — controlling interests	916	1,330
Total equity - noncontrolling interests	0	0
Total equity	916	1,330
Total liabilities and equity	1,722	1,675
Non-Guarantor Subsidiaries
Assets, Current [Abstract]
Cash and cash equivalents	1,875	1,681	$ 1,505	$ 1,314
Accounts receivable, net of allowance for doubtful accounts	852	853
Intercompany receivable	1,982	870
Prepaid and other current assets	79	79
Total current assets	4,788	3,483
Property and equipment, net of accumulated depreciation	115	111
Goodwill	2,706	2,679
Other intangible assets, net	1,442	1,506
Investments in subsidiaries	8,920	7,826
Intercompany loans receivable	1,075	1,354
Other non-current assets	186	114
Total assets	19,232	17,073
Current liabilities:
Accounts payable	91	88
Intercompany payable	1,111	177
Accrued compensation and contributions to retirement plans	143	211
Income taxes currently payable	71	52
Unearned revenue	1,008	1,045
Other current liabilities	176	301
Total current liabilities	2,600	1,874
Long-term debt	0	0
Intercompany loans payable	1,081	1,360
Pension and other postretirement benefits	71	78
Other non-current liabilities	304	314
Total liabilities	4,056	3,626
Redeemable noncontrolling interest	0	0
Equity:
Common stock	2,292	2,460
Additional paid-in capital	11,392	10,485
Retained income	1,986	1,034
Accumulated other comprehensive loss	(467)	(525)
Less: common stock in treasury	(28)	(7)
Total equity — controlling interests	15,175	13,447
Total equity - noncontrolling interests	1	0
Total equity	15,176	13,447
Total liabilities and equity	$ 19,232	$ 17,073

Condensed Consolidating Financial Statements - Statement of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income	$ 457	$ 412	$ 887	$ 735
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation			39	40
Amortization of intangibles			49	47
Provision for losses on accounts receivable			13	8
Stock-based compensation			41	34
Other			26	43
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable			(49)	(39)
Prepaid and other current assets			(13)	(14)
Accounts payable and accrued expenses			(139)	(171)
Unearned revenue			(17)	38
Accrued legal settlements			(4)	(108)
Other current liabilities			(85)	(21)
Net change in prepaid/accrued income taxes			(45)	92
Net change in other assets and liabilities			(29)	(44)
Cash provided by operating activities			674	640
Investing Activities:
Capital expenditures			(56)	(36)
Acquisitions, net of cash acquired			(70)	(52)
Proceeds from dispositions			2	0
Cash used for investing activities			(124)	(88)
Financing Activities:
Additions to short-term debt, net			0	166
Dividends paid to shareholders			(212)	(191)
Distributions to noncontrolling interest holders			(54)	(57)
Repurchase of treasury shares			(346)	(373)
Exercise of stock options			38	65
Employee withholding tax on share-based payments			(44)	(50)
Intercompany financing activities			0	0
Cash used for financing activities			(618)	(440)
Effect of exchange rate changes on cash from continuing operations			60	(26)
Net change in cash and cash equivalents			(8)	86
Cash and cash equivalents at beginning of period			2,392	1,481
Cash and cash equivalents at end of period	2,384	1,567	2,384	1,567
Eliminations
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income	(1,719)	(830)	(3,780)	(2,122)
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation			0	0
Amortization of intangibles			0	0
Provision for losses on accounts receivable			0	0
Stock-based compensation			0	0
Other			0	0
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable			0	0
Prepaid and other current assets			0	0
Accounts payable and accrued expenses			0	0
Unearned revenue			0	0
Accrued legal settlements			0	0
Other current liabilities			0	0
Net change in prepaid/accrued income taxes			0	0
Net change in other assets and liabilities			0	0
Cash provided by operating activities			(3,780)	(2,122)
Investing Activities:
Capital expenditures			0	0
Acquisitions, net of cash acquired			0	0
Proceeds from dispositions			0
Cash used for investing activities			0	0
Financing Activities:
Additions to short-term debt, net				0
Dividends paid to shareholders			0	0
Distributions to noncontrolling interest holders			0	0
Repurchase of treasury shares			0	0
Exercise of stock options			0	0
Employee withholding tax on share-based payments			0	0
Intercompany financing activities			3,780	2,122
Cash used for financing activities			3,780	2,122
Effect of exchange rate changes on cash from continuing operations			0	0
Net change in cash and cash equivalents			0	0
Cash and cash equivalents at beginning of period			0	0
Cash and cash equivalents at end of period	0	0	0	0
S&P Global Inc.
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income	1,075	597	2,311	1,391
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation			15	19
Amortization of intangibles			0	0
Provision for losses on accounts receivable			0	1
Stock-based compensation			14	10
Other			17	(1)
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable			14	(7)
Prepaid and other current assets			(18)	(21)
Accounts payable and accrued expenses			(40)	(26)
Unearned revenue			1	18
Accrued legal settlements			0	0
Other current liabilities			(33)	(23)
Net change in prepaid/accrued income taxes			(55)	83
Net change in other assets and liabilities			(17)	(31)
Cash provided by operating activities			2,209	1,413
Investing Activities:
Capital expenditures			(19)	(16)
Acquisitions, net of cash acquired			0	(40)
Proceeds from dispositions			0
Cash used for investing activities			(19)	(56)
Financing Activities:
Additions to short-term debt, net				166
Dividends paid to shareholders			(212)	(191)
Distributions to noncontrolling interest holders			0	0
Repurchase of treasury shares			(346)	(373)
Exercise of stock options			38	64
Employee withholding tax on share-based payments			(44)	(50)
Intercompany financing activities			(1,842)	(1,038)
Cash used for financing activities			(2,406)	(1,422)
Effect of exchange rate changes on cash from continuing operations			14	(40)
Net change in cash and cash equivalents			(202)	(105)
Cash and cash equivalents at beginning of period			711	167
Cash and cash equivalents at end of period	509	62	509	62
Standard & Poor's Financial Services LLC
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income	149	254	297	440
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation			5	5
Amortization of intangibles			0	0
Provision for losses on accounts receivable			4	1
Stock-based compensation			10	7
Other			0	8
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable			(63)	148
Prepaid and other current assets			3	13
Accounts payable and accrued expenses			34	(98)
Unearned revenue			28	(375)
Accrued legal settlements			(1)	(108)
Other current liabilities			(4)	(25)
Net change in prepaid/accrued income taxes			0	0
Net change in other assets and liabilities			1	27
Cash provided by operating activities			314	43
Investing Activities:
Capital expenditures			(10)	(7)
Acquisitions, net of cash acquired			0	0
Proceeds from dispositions			0
Cash used for investing activities			(10)	(7)
Financing Activities:
Additions to short-term debt, net				0
Dividends paid to shareholders			0	0
Distributions to noncontrolling interest holders			0	0
Repurchase of treasury shares			0	0
Exercise of stock options			0	0
Employee withholding tax on share-based payments			0	0
Intercompany financing activities			(304)	(36)
Cash used for financing activities			(304)	(36)
Effect of exchange rate changes on cash from continuing operations			0	0
Net change in cash and cash equivalents			0	0
Cash and cash equivalents at beginning of period			0	0
Cash and cash equivalents at end of period	0	0	0	0
Non-Guarantor Subsidiaries
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income	952	391	2,059	1,026
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation			19	16
Amortization of intangibles			49	47
Provision for losses on accounts receivable			9	6
Stock-based compensation			17	17
Other			9	36
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable			0	(180)
Prepaid and other current assets			2	(6)
Accounts payable and accrued expenses			(133)	(47)
Unearned revenue			(46)	395
Accrued legal settlements			(3)	0
Other current liabilities			(48)	27
Net change in prepaid/accrued income taxes			10	9
Net change in other assets and liabilities			(13)	(40)
Cash provided by operating activities			1,931	1,306
Investing Activities:
Capital expenditures			(27)	(13)
Acquisitions, net of cash acquired			(70)	(12)
Proceeds from dispositions			2
Cash used for investing activities			(95)	(25)
Financing Activities:
Additions to short-term debt, net				0
Dividends paid to shareholders			0	0
Distributions to noncontrolling interest holders			(54)	(57)
Repurchase of treasury shares			0	0
Exercise of stock options			0	1
Employee withholding tax on share-based payments			0	0
Intercompany financing activities			(1,634)	(1,048)
Cash used for financing activities			(1,688)	(1,104)
Effect of exchange rate changes on cash from continuing operations			46	14
Net change in cash and cash equivalents			194	191
Cash and cash equivalents at beginning of period			1,681	1,314
Cash and cash equivalents at end of period	$ 1,875	$ 1,505	$ 1,875	$ 1,505