S&P GLOBAL INC., 10-Q filed on 4/27/2023
Quarterly Report
v3.23.1
Cover Page - shares
shares in Millions
 3 Months Ended
Mar. 31, 2023
Apr. 21, 2023
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2023  
Document Transition Report false  
Entity File Number 1-1023  
Entity Registrant Name S&P Global Inc.  
Entity Incorporation, State or Country Code NY  
Entity Tax Identification Number 13-1026995  
Entity Address, Address Line One 55 Water Street  
Entity Address, City or Town New York  
Entity Address, State or Province NY  
Entity Address, Postal Zip Code 10041  
City Area Code 212  
Local Phone Number 438-1000  
Title of 12(b) Security Common stock (par value $1.00 per share)  
Trading Symbol SPGI  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   320.8
Entity Central Index Key 0000064040  
Amendment Flag false  
Document Fiscal Year Focus 2023  
Document Fiscal Period Focus Q1  
Current Fiscal Year End Date --12-31  
v3.23.1
Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Income Statement [Abstract]    
Revenue $ 3,160 $ 2,389
Expenses:    
Operating-related expenses 1,088 749
Selling and general expenses 705 958
Depreciation 25 26
Amortization of intangibles 262 111
Total expenses 2,080 1,844
Gain on dispositions (50) (1,344)
Equity in income on unconsolidated subsidiaries (14) (3)
Operating profit 1,144 1,892
Other expense (income), net 11 (49)
Interest expense, net 85 57
Loss on extinguishment of debt, net 0 17
Income before taxes on income 1,048 1,867
Provision for taxes on income 188 568
Net income 860 1,299
Less: net income attributable to noncontrolling interests (65) (64)
Net income attributable to S&P Global Inc. $ 795 $ 1,235
Earnings per share attributable to S&P Global Inc. common shareholders:    
Basic (USD per share) $ 2.47 $ 4.49
Diluted (USD per share) $ 2.47 $ 4.47
Weighted-average number of common shares outstanding:    
Basic (shares) 321.3 275.2
Diluted (shares) 322.1 276.3
Actual shares outstanding at period end (shares) 320.8 339.9
v3.23.1
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Statement of Comprehensive Income [Abstract]    
Net income $ 860 $ 1,299
Other comprehensive income:    
Foreign currency translation adjustments 42 (21)
Income tax effect 3 (5)
Foreign currency translation adjustment, net of income tax effect 45 (26)
Pension and other postretirement benefit plans 1 5
Income tax effect 0 (1)
Pension and other postretirement benefit plans, net of income tax effect 1 4
Unrealized (loss) gain on cash flow hedges (27) 107
Income tax effect 6 (26)
Unrealized gain on investment and forward exchange contracts, net of income tax effect (21) 81
Comprehensive income 885 1,358
Less: comprehensive income attributable to nonredeemable noncontrolling interests (4) (5)
Less: comprehensive income attributable to redeemable noncontrolling interests (61) (59)
Comprehensive income attributable to S&P Global Inc. $ 820 $ 1,294
v3.23.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 1,402 $ 1,286
Restricted cash 3 1
Accounts receivable, net of allowance for doubtful accounts: 2023 - $50; 2022 - $48 2,478 2,494
Prepaid and other current assets 626 588
Assets of a business held for sale 1,313 1,298
Total current assets 5,822 5,667
Property and equipment, net of accumulated depreciation: 2023 - $836; 2022 - $859 281 297
Right of use assets 422 423
Goodwill 34,817 34,545
Other intangible assets, net 18,168 18,306
Equity investments in unconsolidated subsidiaries 1,750 1,752
Other non-current assets 764 794
Total assets 62,024 61,784
Current liabilities:    
Accounts payable 456 450
Accrued compensation and contributions to retirement plans 385 753
Short-term debt 936 226
Income taxes currently payable 219 116
Unearned revenue 3,175 3,126
Other current liabilities 971 1,094
Liabilities of a business held for sale 252 234
Total current liabilities 6,394 5,999
Long-term debt 10,727 10,730
Lease liabilities — non-current 566 577
Pension and other postretirement benefits 183 180
Deferred tax liability — non-current 3,906 4,065
Other non-current liabilities 476 489
Total liabilities 22,252 22,040
Redeemable noncontrolling interest (Note 8) 3,402 3,267
Commitments and contingencies (Note 12)
Equity:    
Common stock, $1 par value: authorized - 600 million shares; issued: 2023 and 2022 415 million shares 415 415
Additional paid-in capital 44,329 44,422
Retained income 18,171 17,784
Accumulated other comprehensive loss (861) (886)
Less: common stock in treasury (25,779) (25,347)
Total equity — controlling interests 36,275 36,388
Total equity — noncontrolling interests 95 89
Total equity 36,370 36,477
Total liabilities and equity $ 62,024 $ 61,784
v3.23.1
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Statement of Financial Position [Abstract]    
Allowance for doubtful accounts $ 50 $ 48
Accumulated depreciation $ 836 $ 859
Common stock, par value (USD per share) $ 1 $ 1
Common stock authorized (shares) 600,000,000 600,000,000
Common stock issued (shares) 415,000,000 415,000,000
v3.23.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating Activities:    
Net income $ 860 $ 1,299
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation 25 26
Amortization of intangibles 262 111
Provision for losses on accounts receivable 8 (7)
Deferred income taxes (167) (53)
Stock-based compensation 46 94
Gain on dispositions (50) (1,344)
Loss on extinguishment of debt, net 0 17
Other 10 24
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:    
Accounts receivable 23 187
Prepaid and other current assets (98) 5
Accounts payable and accrued expenses (343) (318)
Unearned revenue 61 (100)
Other current liabilities (158) (239)
Net change in prepaid/accrued income taxes 169 432
Net change in other assets and liabilities (54) 88
Cash provided by operating activities 594 222
Investing Activities:    
Capital expenditures (28) (16)
Acquisitions, net of cash acquired (272) 295
Proceeds from dispositions 50 2,618
Changes in short-term investments (3) 4
Cash (used for) provided by investing activities (253) 2,901
Financing Activities:    
Additions to (payments on) short-term debt, net 710 (219)
Proceeds from issuance of senior notes, net 0 5,395
Payments on senior notes 0 (3,074)
Dividends paid to shareholders (290) (186)
Distributions to noncontrolling interest holders, net (78) (55)
Repurchase of treasury shares (500) (7,003)
Exercise of stock options and other 3 3
Employee withholding tax on share-based payments (75) (66)
Cash used for financing activities (230) (5,205)
Effect of exchange rate changes on cash 7 (16)
Net change in cash, cash equivalents, and restricted cash 118 (2,098)
Cash, cash equivalents, and restricted cash at beginning of period 1,287 6,505
Cash, cash equivalents, and restricted cash at end of period $ 1,405 $ 4,407
v3.23.1
Consolidated Statements of Equity - USD ($)
$ in Millions
Total
Total SPGI Equity
Common Stock $1 par
Additional Paid-in Capital
Retained Income
Accumulated Other Comprehensive Loss
Less: Treasury Stock
Noncontrolling Interests
Beginning Balance at Dec. 31, 2021 $ 2,107 $ 2,032 $ 294 $ 1,031 $ 15,017 $ (841) $ (13,469) $ 75
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Comprehensive income [1] 1,299 1,294     1,235 59   5
Dividends (Dividend declared per common share) (186) (186)     (186)    
Acquisition of IHS Markit 43,536 43,536 121 43,415        
Share repurchases (7,003) (7,003)   (1,050)     5,953  
Employee stock plans 30 30   49     19  
Change in redemption value of redeemable noncontrolling interest (1) (1)     (1)      
Other (1) 0           (1)
Ending Balance at Mar. 31, 2022 39,781 39,702 415 43,445 16,065 (782) (19,441) 79
Beginning Balance at Dec. 31, 2022 36,477 36,388 415 44,422 17,784 (886) (25,347) 89
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Comprehensive income [1] 824 820     795 25   4
Dividends (Dividend declared per common share) (287) (287)     (287)    
Share repurchases (500) (500)   50     550  
Employee stock plans (25) (25)   (143)     (118)  
Change in redemption value of redeemable noncontrolling interest (120) (120)     (120)      
Other 1 (1)     (1)     2
Ending Balance at Mar. 31, 2023 $ 36,370 $ 36,275 $ 415 $ 44,329 $ 18,171 $ (861) $ (25,779) $ 95
[1] Excludes comprehensive income of $61 million and $59 million for the three months ended March 31, 2023 and 2022, respectively, attributable to our redeemable noncontrolling interest.
v3.23.1
Consolidated Statements of Equity (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended
Jan. 25, 2023
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]        
Common stock, par value (USD per share)   $ 1 $ 1 $ 1
Dividends declared per common share (USD per share) $ 0.90 $ 0.90 $ 0.77  
Comprehensive income attributable to redeemable noncontrolling interests   $ 61 $ 59  
v3.23.1
Nature of Operations and Basis of Presentation
 3 Months Ended
Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Nature of Operations and Basis of Presentation Nature of Operations and Basis of Presentation
S&P Global Inc. (together with its consolidated subsidiaries, “S&P Global,” the “Company,” “we,” “us” or “our”) is a provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity, automotive and engineering markets.

Our operations consist of six reportable segments: S&P Global Market Intelligence (“Market Intelligence”), S&P Global Ratings (“Ratings”), S&P Global Commodity Insights (“Commodity Insights”), S&P Global Mobility (“Mobility”), S&P Dow Jones Indices (“Indices” ) and S&P Global Engineering Solutions (“Engineering Solutions”).
•Market Intelligence is a global provider of multi-asset-class data and analytics integrated with purpose-built workflow solutions.
•Ratings is an independent provider of credit ratings, research, and analytics, offering investors and other market participants information, ratings and benchmarks.
•Commodity Insights is a leading independent provider of information and benchmark prices for the commodity and energy markets.
•Mobility is a leading provider of solutions serving the full automotive value chain including vehicle manufacturers (OEMs), automotive suppliers, mobility service providers, retailers, consumers, and finance and insurance companies.
•Indices is a global index provider maintaining a wide variety of valuation and index benchmarks for investment advisors, wealth managers and institutional investors.
•Engineering Solutions is a leading provider of engineering standards and related technical knowledge.

On February 28, 2022, we completed the merger with IHS Markit Ltd (“IHS Markit”), and as a result, IHS Markit and its subsidiaries became wholly owned consolidated subsidiaries of S&P Global, and the financial results include IHS Markit from the date of acquisition.
The accompanying unaudited financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. Therefore, the financial statements included herein should be read in conjunction with the financial statements and notes included in our Form 10-K for the year ended December 31, 2022 (our “Form 10-K”).

In the opinion of management, all normal recurring adjustments considered necessary for a fair statement of the results of the interim periods have been included. The operating results for the three months ended March 31, 2023 are not necessarily indicative of the results that may be expected for the full year.

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

Restricted Cash

Restricted cash included in our consolidated balance sheets was $3 million and $1 million as of March 31, 2023 and December 31, 2022, respectively.
Contract Assets

Contract assets include unbilled amounts from when the Company transfers service to a customer before a customer pays consideration or before payment is due. As of March 31, 2023 and December 31, 2022, contract assets were $77 million and $60 million, respectively, and are included in accounts receivable in our consolidated balance sheets.

Unearned Revenue

We record unearned revenue when cash payments are received in advance of our performance. The increase in the unearned revenue balance at March 31, 2023 compared to December 31, 2022 is primarily driven by cash payments received in advance of satisfying our performance obligations, partially offset by $1.1 billion of revenues recognized that were included in the unearned revenue balance at the beginning of the period.

Remaining Performance Obligations

Remaining performance obligations represent the transaction price of contracts for work that has not yet been performed. As of March 31, 2023, the aggregate amount of the transaction price allocated to remaining performance obligations was $4.5 billion. We expect to recognize revenue on approximately half and three-quarters of the remaining performance obligations over the next 12 and 24 months, respectively, with the remainder recognized thereafter.

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

Costs to Obtain a Contract

We recognize an asset for the incremental costs of obtaining a contract with a customer if we expect the benefit of those costs to be longer than one year. We have determined that the costs associated with certain sales commission programs are incremental to the costs to obtain contracts with customers and therefore meet the criteria to be capitalized. Total capitalized costs to obtain a contract were $184 million and $175 million as of March 31, 2023 and December 31, 2022, respectively, and are included in prepaid and other current assets and other non-current assets on our consolidated balance sheets. The capitalized asset will be amortized over a period consistent with the transfer to the customer of the goods or services to which the asset relates, calculated based on the customer term and the average life of the products and services underlying the contracts which has been determined to be approximately 5 years. The expense is recorded within selling and general expenses.

We expense sales commissions when incurred if the amortization period is one year or less. These costs are recorded within selling and general expenses.

Equity in Income on Unconsolidated Subsidiaries

The Company holds an investment in a 50/50 joint venture arrangement with shared control with CME Group that combined each company’s post-trade services into a joint venture, OSTTRA. The joint venture provides trade processing and risk mitigation operations and incorporates CME’s optimization businesses (Traiana, TriOptima, and Reset) and the Company’s MarkitSERV business. The combination is intended to increase operating efficiencies of both businesses to more effectively service clients with enhanced platforms and services for OTC markets across interest rate, FX, equity, and credit asset classes.

Other Expense (Income), net

The components of other expense (income), net for the three months ended March 31 are as follows:
(in millions)20232022
Other components of net periodic benefit cost$(6)$(4)
Net loss (gain) from investments17 (45)
Other expense (income), net$11 $(49)
v3.23.1
Acquisitions and Divestitures
 3 Months Ended
Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]  
Acquisitions and Divestitures Acquisitions and Divestitures
Acquisitions

2023

On February 16, 2023, we completed the acquisition of Market Scan Information Systems, Inc. (“Market Scan”), a leading provider of automotive pricing and incentive intelligence, including Automotive Payments as a ServiceTM and its powerful payment calculation engine. The addition of Market Scan to Mobility will enable the integration of detailed transaction intelligence in areas that are complementary to existing services for dealers, OEMs, lenders, and other market participants. The acquisition of Market Scan is not material to our consolidated financial statements.

On January 3, 2023, we completed the acquisition of ChartIQ, a premier charting provider for the financial services industry. ChartIQ is a professional grade charting solution that allows users to visualize data with a fully interactive web-based library that works seamlessly across web, mobile and desktop. It provides advanced capabilities including trade visualization, options analytics, technical analysis and more. Additionally, ChartIQ allows clients to visualize vendor-supplied data combined with their own proprietary content, alternative datasets or analytics. The acquisition will be part of our Market Intelligence segment and further enhances our S&P Capital IQ Pro platform, our digital investment solutions provider Markit Digital and other workflow solutions to provide the industry with leading visualization capabilities. The acquisition of ChartIQ is not material to our consolidated financial statements.

On January 4, 2023, we completed the acquisition of TruSight Solutions LLC (“TruSight”) a provider of third-party vendor risk assessments. The acquisition will be integrated into our Market Intelligence segment and further expands the breadth and depth of S&P Global’s third party vendor risk management solutions by offering high-quality validated assessment data to clients designed to reduce further the vendor due diligence burden on service providers to the financial services industry. The acquisition of TruSight is not material to our consolidated financial statements.

2022

Merger with IHS Markit

On February 28, 2022, we completed the merger with IHS Markit. The fair value of the consideration transferred for IHS Markit was approximately $43.5 billion.

Allocation of Purchase Price

The merger with IHS Markit was accounted for as a business combination using the acquisition method of accounting in accordance with ASC 805, Business Combinations (“ASC 805”). The allocation of purchase price recorded for IHS Markit is as follows:
(in millions)February 28, 2022
Assets acquired
Cash and cash equivalents$310 
Accounts receivable, net968 
Prepaid and other current assets224 
Assets of a business held for sale 1,519 
Property and equipment118 
Right of use assets240 
Goodwill31,456 
Other intangible assets18,620 
Equity investments in unconsolidated subsidiaries1,644 
Other non-current assets54 
Total assets acquired$55,153 
Liabilities assumed
Account payable$174 
Accrued compensation90 
Short-term debt968 
Unearned revenue1,053 
Other current liabilities581 
Liabilities of a business held for sale72 
Long-term debt 4,191 
Lease liabilities - non-current231 
Deferred tax liability - non-current4,200 
Other non-current liabilities57 
Total liabilities assumed$11,617 
Total consideration transferred$43,536 

Acquired Identifiable Intangible Assets

The following table sets forth the fair values of the components of the identifiable intangible assets acquired and their useful lives:

(in millions)Fair ValueWeighted Average Useful Lives
Customer relationships$13,596 25 years
Trade names and trademarks1,469 14 years
Developed technology1,043 10 years
Databases2,512 12 years
Total Identified Intangible Assets$18,620 21 years

Divestitures

2023

During the three months ended March 31, 2023, we did not complete any material divestitures.
In the first quarter of 2023, we received a contingent payment following the sale of Leveraged Commentary and Data (“LCD”) along with a related family of leveraged loan indices in June of 2022. The contingent payment was payable six months following the closing upon the achievement of certain conditions related to the transition of LCD customer relationships. During the three months ended March 31, 2023, the contingent payment resulted in a pre-tax gain of $46 million ($34 million after-tax) related to the sale of LCD in our Market Intelligence segment and $4 million ($3 million after-tax) related to the sale of a family of leveraged loan indices in our Indices segment.
On January 14, 2023, we entered into a securities and asset purchase agreement with Allium Buyer LLC, a Delaware limited liability company controlled by funds affiliated with Kohlberg Kravis Roberts & Co. L.P. (“KKR”) to sell our Engineering Solutions business for $975 million in cash, subject to customary purchase price adjustments. We currently anticipate the divestiture to result in after-tax proceeds of approximately $750 million, which proceeds are expected to be used for share repurchases. The agreement follows our announced intent in November of 2022 to divest the business. Engineering Solutions became part of the Company following our merger with IHS Markit. The transaction, which is subject to receipt of required regulatory approvals and satisfying other customary closing conditions, is expected to close in the second quarter of 2023.
2022

As a condition of securing regulatory approval for the merger, S&P Global and IHS Markit agreed to divest of certain of their businesses. S&P Global’s divestitures included CUSIP Global Services (“CGS”), its LCD business and a related family of leveraged loan indices while IHS Markit’s divestitures include Oil Price Information Services (“OPIS”); Coal, Metals and Mining; and PetroChem Wire businesses and its Base Chemicals business.

In March of 2022, we completed the previously announced sale of CGS, a business within our Market Intelligence segment, to FactSet Research Systems Inc. for a purchase price of $1.925 billion in cash, subject to customary adjustments. During the three months ended March 31, 2022, we recorded a pre-tax gain of $1.344 billion ($999 million after tax) in Gain on dispositions in the consolidated statements of income related to the sale of CGS.

In February of 2022, we completed the previously announced sale of OPIS to News Corp for $1.150 billion in cash. We did not recognize a gain on the sale of OPIS.

Assets and Liabilities Held for Sale

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

(in millions)March 31,December 31,
2023 1
2022 1
Accounts Receivable, net $91 $88 
Goodwill437 437 
Other intangible assets, net696 697 
Other assets89 76 
Assets of a business held for sale$1,313 $1,298 
Accounts payable and accrued expenses$55 $59 
Deferred tax liability26 27 
Unearned revenue171 148 
Liabilities of a business held for sale$252 $234 
1 Assets and liabilities held for sale as of March 31, 2023 and December 31, 2022 relate to Engineering Solutions.
The operating profit of our businesses that were disposed of or classified as held for sale for the three months ended March 31 is as follows:
(in millions)20232022
Operating profit 2
$14 $35 
2 The operating profit presented includes the revenue and recurring direct expenses associated with businesses disposed of or held for sale. The three months ended March 31, 2023 excludes a pre-tax gain related to the sale of LCD and leveraged loan indices of $50 million. The three months ended March 31, 2022 exclude a pre-tax gain related to the sale of CGS of $1.3 billion.
v3.23.1
Income Taxes
 3 Months Ended
Mar. 31, 2023
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The effective income tax rate was 17.9% and 30.4% for the three months ended March 31, 2023 and March 31, 2022, respectively. The higher rate for the three months ended March 31, 2022 was primarily due to the tax charge on merger related divestitures and deal related non-deductible costs.

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

The Company is continuously subject to tax examinations in various jurisdictions. As of March 31, 2023 and December 31, 2022, the total amount of federal, state and local, and foreign unrecognized tax benefits was $236 million and $223 million, respectively, exclusive of interest and penalties. We recognize accrued interest and penalties related to unrecognized tax benefits in interest expense and operating-related expense, respectively. As of March 31, 2023 and December 31, 2022, we had $42 million and $38 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 may decrease by approximately $20 million in the next twelve months as a result of the resolution of local tax examinations.

For tax years beginning after December 31, 2021, the Tax Cuts and Jobs Act of 2017 (“TCJA”) requires taxpayers to capitalize and amortize research and development costs pursuant to Internal Revenue Code (“IRC”) Section 174. Section 174 requires taxpayers to capitalize research and development costs and amortize them over 5 years for expenditures attributed to domestic research and 15 years for expenditures attributed to foreign research. This provision affects a significant proportion of the Company for the first time in 2023. The actual impact of Section 174 capitalization and amortization on the income tax payable and deferred tax asset will depend on multiple factors, including the amount of research and development expenses we will incur and whether we conduct our research and development activities inside or outside the United States. Although Congress is considering legislation that would defer, repeal or otherwise modify this capitalization and amortization requirement, the possibility that this will happen is uncertain. If legislation is not passed to defer, repeal, or otherwise modify the capitalization and amortization requirement we expect our cash taxes to be greater than in the prior year.
v3.23.1
Debt
 3 Months Ended
Mar. 31, 2023
Debt Disclosure [Abstract]  
Debt Debt 
A summary of short-term and long-term debt outstanding is as follows:
(in millions)March 31,
2023		December 31,
2022
4.125% Senior Notes, due 2023 1
$38 $38 
3.625% Senior Notes, due 2024 2
48 48 
4.75% Senior Notes, due 2025 3
4 4 
4.0% Senior Notes, due 2026 4
3 3 
2.95% Senior Notes, due 2027 5
497 496 
2.45% Senior Notes, due 2027 6
1,237 1,237 
4.75% Senior Notes, due 2028 7
821 823 
4.25% Senior Notes, due 2029 8
1,026 1,029 
2.5% Senior Notes, due 2029 9
497 497 
2.70% Sustainability-Linked Senior Notes, due 2029 10
1,234 1,233 
1.25% Senior Notes, due 2030 11
594 594 
2.90% Senior Notes, due 2032 12
1,472 1,472 
6.55% Senior Notes, due 2037 13
290 290 
4.5% Senior Notes, due 2048 14
272 272 
3.25% Senior Notes, due 2049 15
590 590 
3.70% Senior Notes, due 2052 16
974 974 
2.3% Senior Notes, due 2060 17
682 682 
3.9% Senior Notes, due 2062 18
486 486 
Commercial paper898 188 
Total debt11,663 10,956 
Less: short-term debt including current maturities936 226 
Long-term debt$10,727 $10,730 
1     Interest payments are due semiannually on February 1 and August 1.
2     Interest payments are due semiannually on May 1 and November 1.
3     Interest payments are due semiannually on February 15 and August 15.
4     Interest payments are due semiannually on March 1 and September 1.
5    Interest payments are due semiannually on January 22 and July 22, and as of March 31, 2023, the unamortized debt discount and issuance costs total $3 million.
6    Interest payments are due semiannually on March 1 and September 1 and as of March 31, 2023, the unamortized debt discount and issuance costs total $13 million.
7     Interest payments are due semiannually on February 1 and August 1.
8 Interest payments are due semiannually on May 1 and November 1.
9    Interest payments are due semiannually on June 1 and December 1, and as of March 31, 2023, the unamortized debt discount and issuance costs total $3 million.
10    Interest payments are due semiannually on March 1 and September 1 and as of March 31, 2023, the unamortized debt discount and issuance costs total $16 million.
11    Interest payments are due semiannually on February 15 and August 15, and as of March 31, 2023, the unamortized debt discount and issuance costs total $6 million.
12 Interest payments are due semiannually on March 1 and September 1 and as of March 31, 2023, the unamortized debt discount and issuance costs total $28 million.
13    Interest payments are due semiannually on May 15 and November 15, and as of March 31, 2023, the unamortized debt discount and issuance costs total $3 million.
14    Interest payments are due semiannually on May 15 and November 15, and as of March 31, 2023, the unamortized debt discount and issuance costs total $11 million.
15 Interest payments are due semiannually on June 1 and December 1, and as of March 31, 2023, the unamortized debt discount and issuance costs total $10 million.
16    Interest payments are due semiannually on March 1 and September 1 and as of March 31, 2023, the unamortized debt discount and issuance costs total $26 million.
17    Interest payments are due semiannually on February 15 and August 15, and as of March 31, 2023, the unamortized debt discount and issuance costs total $18 million.
18    Interest payments are due semiannually on March 1 and September 1 and as of March 31, 2023, the unamortized debt discount and issuance costs total $14 million.
The fair value of our total debt borrowings was $9.5 billion and $9.3 billion as of March 31, 2023 and December 31, 2022, respectively, and was estimated based on quoted market prices.

On February 28, 2022, we completed the merger with IHS Markit in an all-stock transaction. In the transaction, we assumed IHS Markit's publicly traded debt, with an outstanding principal balance of $4.6 billion, which was recorded at fair value of $4.9 billion on the acquisition date. The adjustment to fair value of the Senior Notes of approximately $292 million on the acquisition date is being amortized as an adjustment to interest expense over the remaining contractual terms of the Senior Notes.

During the three months ended March 31, 2022, we recognized a $17 million loss on extinguishment of debt which includes a $118 million tender premium paid to tendering note holders in accordance with the terms of the tender offer, offset by a $101 million non-cash write-off related to the fair market value step up premium on extinguished debt.

We have the ability to borrow a total of $2.0 billion through our commercial paper program, which is supported by our $2.0 billion five-year credit agreement (our “credit facility”) that will terminate on April 26, 2026. As of March 31, 2023 and December 31, 2022, respectively, there was $898 million and $188 million of commercial paper outstanding.

Commitment fees for the unutilized commitments under the credit facility and applicable margins for borrowings thereunder are linked to the Company achieving three environmental sustainability performance indicators related to emissions, tested annually. We currently pay a commitment fee of 8 basis points. The credit facility contains customary affirmative and negative covenants and customary events of default. The occurrence of an event of default could result in an acceleration of the obligations under the credit facility.

The only financial covenant required is that our indebtedness to cash flow ratio, as defined in our credit facility, was not greater than 4 to 1, and this covenant level has never been exceeded.
v3.23.1
Derivative Instruments
 3 Months Ended
Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments Derivative Instruments
Our exposure to market risk includes changes in foreign exchange rates and interest rates. We have operations in foreign countries where the functional currency is primarily the local currency. For international operations that are determined to be extensions of the parent company, the U.S. dollar is the functional currency. We typically have naturally hedged positions in most countries from a local currency perspective with offsetting assets and liabilities. As of March 31, 2023 and December 31, 2022, we have entered into foreign exchange forward contracts to mitigate or hedge the effect of adverse fluctuations in foreign exchange rates and cross currency swap contracts to hedge a portion of our net investment in a foreign subsidiary against volatility in foreign exchange rates. As of March 31, 2023 and December 31, 2022, we entered into a series of interest rate swaps to mitigate or hedge the adverse fluctuations in interest rates on our future debt refinancing. These contracts are recorded at fair value that is based on foreign currency exchange rates and interest rates in active markets; therefore, we classify these derivative contracts within Level 2 of the fair value hierarchy. We do not enter into any derivative financial instruments for speculative purposes.

Undesignated Derivative Instruments

During the three months ended March 31, 2023 and twelve months ended December 31, 2022, we entered into foreign exchange forward contracts in order to mitigate the change in fair value of specific assets and liabilities in the consolidated balance sheets. These forward contracts do not qualify for hedge accounting. As of March 31, 2023 and December 31, 2022, the aggregate notional value of these outstanding forward contracts was $1.6 billion and $1.8 billion, respectively. The changes in fair value of these forward contracts are recorded in prepaid and other current assets or other current liabilities in the
consolidated balance sheets with their corresponding change in fair value recognized in selling and general expenses in the consolidated statements of income. The amount recorded in prepaid and other current assets as of March 31, 2023 and December 31, 2022 was $25 million and $5 million, respectively. The amount recorded in other current liabilities as of March 31, 2023 and December 31, 2022 was $1 million and $37 million, respectively. The amount recorded in selling and general expense related to these contracts was a net gain of $29 million for three months ended March 31, 2023, and a net loss of $19 million for three months ended March 31, 2022, respectively

Net Investment Hedges

As of March 31, 2023 and December 31, 2022, we held cross currency swaps to hedge a portion of our net investment in one of our European subsidiaries against volatility in the Euro/U.S. dollar exchange rate. These swaps are designated and qualify as a hedge of a net investment in a foreign subsidiary and are scheduled to mature in 2024, 2029 and 2030. As of March 31, 2023 and December 31, 2022, the notional value of our outstanding cross currency swaps designated as a net investment hedge was $1 billion. The changes in the fair value of these swaps are recognized in foreign currency translation adjustments, a component of other comprehensive income (loss), and reported in accumulated other comprehensive loss in our consolidated balance sheet. The gain or loss will be subsequently reclassified into net earnings when the hedged net investment is either sold or substantially liquidated. We have elected to assess the effectiveness of our net investment hedges based on changes in spot exchange rates. Accordingly, amounts related to the cross currency swaps recognized directly in net income for the three months ended March 31, 2023 represent net periodic interest settlements and accruals, which are recognized in interest expense, net. We recognized net interest expense of $9 million and $10 million for the three months ended March 31, 2023 and 2022, respectively.

Cash Flow Hedges

Foreign Exchange Forward Contracts

During the three months ended March 31, 2023 and the twelve months ended December 31, 2022, we entered into a series of foreign exchange forward contracts to hedge a portion of the Indian rupee, British pound, and Euro exposures through the first quarter of 2025 and the fourth quarter of 2024, respectively. These contracts are intended to offset the impact of movement of exchange rates on future revenue and operating costs and are scheduled to mature within twenty-four months. The changes in the fair value of these contracts are initially reported in accumulated other comprehensive loss in our consolidated balance sheet and are subsequently reclassified into revenue and selling and general expenses in the same period that the hedged transaction affects earnings.

As of March 31, 2023, we estimate that $3 million of pre-tax loss related to foreign exchange forward contracts designated as cash flow hedges recorded in other comprehensive income is expected to be reclassified into earnings within the next twelve months.

As of March 31, 2023 and December 31, 2022, the aggregate notional value of our outstanding foreign exchange forward contracts designated as cash flow hedges was $474 million and $529 million, respectively.

Interest Rate Swaps

As of March 31, 2023 and December 31, 2022, we held positions in a series of interest rate swaps. These contracts are intended to mitigate or hedge the adverse fluctuations in interest rates on our future debt refinancing and are scheduled to mature beginning in the first quarter of 2027. These interest rate swaps are designated as cash flow hedges. The changes in the fair value of these contracts are initially reported in accumulated other comprehensive loss in our consolidated balance sheet and will be subsequently reclassified into interest expense, net in the same period that the hedged transaction affects earnings.

As of March 31, 2023 and December 31,2022, the aggregate notional value of our outstanding interest rate swaps designated as cash flow hedges was $1.4 billion.
The following table provides information on the location and fair value amounts of our cash flow hedges and net investment hedges as of March 31, 2023 and December 31, 2022:
(in millions)March 31, December 31,
Balance Sheet Location20232022
Derivatives designated as cash flow hedges:
Prepaid and other current assets Foreign exchange forward contracts$6 $3 
Other current liabilitiesForeign exchange forward contracts$4 $7 
Other non-current assetsInterest rate swap contracts$110 $145 
Derivatives designated as net investment hedges:
Other non-current assets Cross currency swaps$75 $84 
The following table provides information on the location and amounts of pre-tax gains (losses) on our cash flow hedges and net investment hedges for the three months ended March 31:
(in millions)Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion)Location of Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (effective portion)Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (effective portion)
2023202220232022
Cash flow hedges - designated as hedging instruments
Foreign exchange forward contracts$6 $(7)Revenue, Selling and general expenses$— $2 
Interest rate swap contracts$(34)$113 Interest expense, net$(1)$— 
Net investment hedges - designated as hedging instruments
Cross currency swaps$(9)$21 Interest expense, net$(1)$(1)
The activity related to the change in unrealized gains (losses) in accumulated other comprehensive loss was as follows for the three months ended March 31:
(in millions)20232022
Cash Flow Hedges
Foreign exchange forward contracts
Net unrealized gains on cash flow hedges, net of taxes, beginning of period$— $6 
Change in fair value, net of tax4 (3)
Reclassification into earnings, net of tax— (2)
Net unrealized gains on cash flow hedges, net of taxes, end of period$4 $1 
Interest rate swap contracts
Net unrealized gains (losses) on cash flow hedges, net of taxes, beginning of period$48 $(203)
Change in fair value, net of tax(26)85 
Reclassification into earnings, net of tax1 — 
Net unrealized gains (losses) on cash flow hedges, net of taxes, end of period$23 $(118)
Net Investment Hedges
Net unrealized gains (losses) on net investment hedges, net of taxes, beginning of period$56 $(17)
Change in fair value, net of tax(8)14 
Reclassification into earnings, net of tax1 1 
Net unrealized gains (losses) on net investment hedges, net of taxes, end of period$49 $(2)
v3.23.1
Employee Benefits
 3 Months Ended
Mar. 31, 2023
Retirement Benefits [Abstract]  
Employee Benefits Employee Benefits
We maintain a number of active defined contribution retirement plans for our employees. The majority of our defined benefit plans are frozen. As a result, no new employees will be permitted to enter these plans and no additional benefits for current participants in the frozen plans will be accrued.

We also have supplemental benefit plans providing senior management with supplemental retirement, disability and death benefits. Certain supplemental retirement benefits are based on final monthly earnings. In addition, we sponsor a voluntary 401(k) plan under which we 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 retirement and postretirement plans in the consolidated balance sheets, with a corresponding adjustment to accumulated other comprehensive loss, net of taxes. The amounts in accumulated other comprehensive loss represent net unrecognized actuarial losses and unrecognized prior service costs. These amounts will be subsequently recognized as net periodic pension cost pursuant to our accounting policy for amortizing such amounts.
Net periodic benefit cost for our retirement and postretirement plans other than the service cost component are included in other income, net in our consolidated statements of income.
The components of net periodic benefit cost for our retirement plans and postretirement plans for the three months ended March 31 are as follows: 

(in millions)20232022
Service cost$— $1 
Interest cost18 12 
Expected return on assets(25)(22)
Amortization of prior service credit / actuarial loss1 3 
Net periodic benefit cost$(6)$(6)

Net periodic benefit cost related to our postretirement plans reflected in the table above was not material for the three months ended March 31, 2023 and 2022.
As discussed in our Form 10-K, we changed certain discount rate assumptions for our retirement and postretirement plans and our expected return on assets assumption for our retirement plans which became effective on January 1, 2023. The effect of the assumption changes on retirement and postretirement expense for the three months ended March 31, 2023 did not have a material impact to our financial position, results of operations or cash flows.

In the first three months of 2023, we contributed $2 million to our retirement plans and expect to make additional required contributions of approximately $8 million to our retirement plans during the remainder of the year. We may elect to make additional non-required contributions depending on investment performance or any potential deterioration of our pension plan status in the remaining nine months of 2023.
v3.23.1
Stock-Based Compensation
 3 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based CompensationWe issue stock-based incentive awards to our eligible employees under the 2019 Employee Stock Incentive Plan and to our eligible non-employee members of the Board of Directors under a Director Deferred Stock Ownership Plan. For the three months ended March 31, 2023 and 2022, total stock-based compensation expense related to restricted stock and other stock-based awards was $46 million and $94 million, respectively. Stock-based compensation expense for the three months ended March 31, 2022 primarily related to the early vesting of IHS Markit equity awards as a result of employee terminations and restructuring efforts. During the three months ended March 31, 2023, the Company granted 0.4 million shares of restricted stock and other stock-based awards, which had a weighted average grant date fair value of $338.29 per share. Total unrecognized compensation expense related to unvested equity awards as of March 31, 2023 was $259 million, which is expected to be recognized over a weighted average period of 1.8 years.
v3.23.1
Equity
 3 Months Ended
Mar. 31, 2023
Equity [Abstract]  
Equity Equity
Dividends

On January 25, 2023, the Board of Directors approved an increase in the dividends for 2023 to a quarterly common stock dividend of $0.90 per share.

Stock Repurchases
On June 22, 2022, the Board of Directors approved a share repurchase program authorizing the purchase of 30 million shares (the “2022 Repurchase Program”), which was approximately 9% of the total shares of our outstanding common stock at that time. On January 29, 2020, the Board of Directors approved a share repurchase program authorizing the purchase of 30 million shares (the “2020 Repurchase Program”), which was approximately 12% of the total shares of our outstanding common stock at that time.
Our purchased shares may be used for general corporate purposes, including the issuance of shares for stock compensation plans and to offset the dilutive effect of the exercise of employee stock options. As of March 31, 2023, 25.7 million shares remained available under the 2022 Repurchase Program and the 2020 repurchase program was complete. Our 2022 Repurchase Program has no expiration date and purchases under this program may be made from time to time on the open market and in private transactions, depending on market conditions.
We enter into accelerated share repurchase (“ASR”) agreements with financial institutions to initiate share repurchases of our common stock. Under an ASR agreement, we pay a specified amount to the financial institution and receive an initial delivery of shares. This initial delivery of shares represents the minimum number of shares that we may receive under the agreement. Upon settlement of the ASR agreement, the financial institution delivers additional shares. The total number of shares ultimately delivered, and therefore the average price paid per share, is determined at the end of the applicable purchase period of each ASR agreement based on the volume weighted-average share price, less a discount. We account for our ASR agreements as two transactions: a stock purchase transaction and a forward stock purchase contract. The shares delivered under the ASR agreements resulted in a reduction of outstanding shares used to determine our weighted average common shares outstanding for purposes of calculating basic and diluted earnings per share. The repurchased shares are held in Treasury. The forward stock purchase contracts were classified as equity instruments.
The terms of each ASR agreement entered into during the three months ended March 31, 2023 and 2022, structured as outlined above, are as follows:
(in millions, except average price paid per share)
ASR Agreement Initiation DateInitial Shares DeliveredAdditional Shares DeliveredTotal Number of Shares
Purchased		Average Price Paid Per ShareTotal Cash Utilized
February 13, 2023 1
1.1— 1.1$— $500 
March 1, 2022 2
15.24.1 19.3$362.03 $7,000 
1 The ASR agreement was structured as an uncapped ASR agreement in which we paid $500 million and initially received shares valued at 85% of the $500 million at a price equal to the market price of the Company's common stock on February 13, 2023 when the Company received an initial delivery of 1.1 million shares from the ASR program. The final settlement of the transaction under the ASR is expected to be completed no later than the second quarter of 2023. The ASR agreement was executed under our 2022 Repurchase Program.
2 The ASR agreement was structured as an uncapped ASR agreement in which we paid $7 billion and initially received shares valued at 85% of the $7 billion at a share equal to the then market price of the Company's common stock on March 1, 2022 when the company received an initial delivery of 15.2 million shares from the ASR program. We completed the ASR agreement on August 9, 2022 and received an additional 4.1 million shares. The ASR agreement was executed under our 2020 Repurchase Program.

During the three months ended March 31, 2023, we received 1.6 million shares, including 0.4 million shares received in February of 2023 related to our December 2, 2022 ASR agreement. During the three months ended March 31, 2023, we purchased a total of 1.1 million shares for $500 million of cash. During the three months ended March 31, 2022, we purchased a total of 15.2 million shares for $7 billion of cash.

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, CME Group and CME Group Index Services LLC ("CGIS") has the right at any time to sell, and we are obligated to buy, at least 20% of their share in S&P Dow Jones Indices LLC. In addition, in the event there is a change of control of the Company, for the 15 days following a change in control, CME Group and CGIS will have the right to put their interest to us at the then fair value of CME Group's and CGIS' minority interest.

If interests were to be redeemed under this agreement, we would generally be required to purchase the interest at fair value on the date of redemption. This interest is presented on the consolidated balance sheets outside of equity under the caption “Redeemable noncontrolling 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, using both income and market valuation approaches. Our income and market valuation approaches incorporate Level 3 fair value measures for instances when observable inputs are not available. The more significant judgmental assumptions used to estimate the value of the S&P Dow Jones Indices LLC joint venture include an estimated discount rate, a range of assumptions that form the basis of the expected future net cash flows (e.g., the revenue growth rates and operating margins), and a company specific beta. The significant judgmental assumptions used that incorporate market data, including the relative weighting of market observable information and the comparability of that information in our valuation models, are forward-looking and could be affected by future economic and market conditions. Any adjustments to the redemption value will impact retained income.
Noncontrolling interests that do not contain such redemption features are presented in equity.
Changes to redeemable noncontrolling interest during the three months ended March 31, 2023 were as follows:
(in millions)
Balance as of December 31, 2022$3,267 
Net income attributable to redeemable noncontrolling interest61 
Distributions payable to redeemable noncontrolling interest(52)
Redemption value adjustment120 
Other 1
6 
Balance as of March 31, 2023
$3,402 
1 Relates to foreign currency translation adjustments.

Accumulated Other Comprehensive Loss

The following table summarizes the changes in the components of accumulated other comprehensive loss for the three months ended March 31, 2023:
(in millions)Foreign Currency Translation AdjustmentsPension and Postretirement Benefit PlansUnrealized Gain (Loss) on Cash Flow HedgesAccumulated Other Comprehensive Loss
Balance as of December 31, 2022$(582)$(349)$45 $(886)
Other comprehensive income (loss) before reclassifications45 11 (22)24 
Reclassifications from accumulated other comprehensive income (loss) to net earnings
— — 21 31 
Net other comprehensive income (loss)45 1 (21)25 
Balance as of March 31, 2023
$(537)$(348)$24 $(861)
1Includes an unrealized gain related to our cross currency swaps. See note 5 – Derivative Instruments for additional detail of items recognized in accumulated other comprehensive loss.
2Reflects amortization of net actuarial losses and is net of a tax benefit of less than $1 million for the three months ended March 31, 2023. See Note 6 — Employee Benefits for additional details of items reclassed from accumulated other comprehensive loss to net earnings.
3See Note 5 — Derivative Instruments for additional details of items reclassified from accumulated other comprehensive loss to net earnings.
v3.23.1
Earnings Per Share
 3 Months Ended
Mar. 31, 2023
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Basic earnings per common share (“EPS”) is computed by dividing net income attributable to the common shareholders of the Company by the weighted-average number of common shares outstanding. Diluted EPS is computed in the same manner as basic EPS, except the number of shares is increased to include additional common shares that would have been outstanding if potential common shares with a dilutive effect had been issued. Potential common shares consist primarily of stock options and restricted performance shares calculated using the treasury stock method.

The calculation of basic and diluted EPS for the three months ended March 31 is as follows:
(in millions, except per share amounts)20232022
Amounts attributable to S&P Global Inc. common shareholders:
Net income$795 $1,235 
Basic weighted-average number of common shares outstanding
321.3 275.2 
Effect of stock options and other dilutive securities0.8 1.1 
Diluted weighted-average number of common shares outstanding
322.1 276.3 
Earnings per share attributable to S&P Global Inc. common shareholders:
Net income:
Basic$2.47 $4.49 
Diluted$2.47 $4.47 
We have certain stock options and restricted performance shares that are potentially excluded from the computation of diluted EPS. The effect of the potential exercise of stock options is excluded when the average market price of our common stock is lower than the exercise price of the related option during the period or when a net loss exists because the effect would have been antidilutive. Additionally, restricted performance shares are excluded because the necessary vesting conditions had not been met or when a net loss exists. For the three months ended March 31, 2023 and 2022, there were no stock options excluded. Restricted performance shares outstanding of 0.8 million and 0.7 million as of March 31, 2023 and 2022, respectively, were excluded.
v3.23.1
Restructuring
 3 Months Ended
Mar. 31, 2023
Restructuring and Related Activities [Abstract]  
Restructuring Restructuring
We continuously evaluate our cost structure to identify cost savings associated with streamlining our management structure. Our 2023 and 2022 restructuring plan consisted of a company-wide workforce reduction of approximately 39 and 1,440 positions, respectively, and is further detailed below. The charges for the restructuring plans are classified as selling and general expenses within the consolidated statements of income and the reserves are included in other current liabilities in the consolidated balance sheets.

In certain circumstances, reserves are no longer needed because employees previously identified for separation resigned from the Company and did not receive severance or were reassigned due to circumstances not foreseen when the original plans were initiated. In these cases, we reverse reserves through the consolidated statements of income during the period when it is determined they are no longer needed.
The initial restructuring charge recorded and the ending reserve balance as of March 31, 2023 by segment is as follows:
2023 Restructuring Plan2022 Restructuring Plan
(in millions)Initial Charge RecordedEnding Reserve BalanceInitial Charge RecordedEnding Reserve Balance
Market Intelligence$6 $6 $86 $36 
Ratings1 1 26 10 
Commodity Insights 2 2 45 17 
Mobility — — 2 2 
Indices1 1 13 7 
Engineering Solutions— — 2 1 
Corporate 2 2 109 30 
Total $12 $12 $283 $103 

We recorded a pre-tax restructuring charge of $12 million primarily related to employee severance charges for the 2023 restructuring plan during the three months ended March 31, 2023. We have made no reductions to the reserve for the 2023 restructuring plan.

The ending reserve balance for the 2022 restructuring plan was $164 million as of December 31, 2022. For the three months ended March 31, 2023, we have reduced the reserve for the 2022 restructuring plan by $61 million. The ending reserve balance for the 2021 restructuring plan was $3 million and $10 million as of March 31, 2023 and December 31, 2022, respectively. The reductions primarily related to cash payments for employee severance charges.
v3.23.1
Segment and Related Information
 3 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]  
Segment and Related Information Segment and Related Information
We have six reportable segments: Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions. 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 Corporate Unallocated expense, equity in income on unconsolidated subsidiaries, other expense (income), net, interest expense, net, or loss on extinguishment of debt, net, as these are amounts that do not affect the operating results of our reportable segments.


A summary of operating results for the three months ended March 31 is as follows: 
Revenue
(in millions)20232022
Market Intelligence $1,071 $727 
Ratings 824 868 
Commodity Insights 508 363 
Mobility358 115 
Indices 341 322 
Engineering Solutions100 33 
Intersegment elimination 1
(42)(39)
Total revenue$3,160 $2,389 
Operating Profit
(in millions)20232022
Market Intelligence 2
$229 $1,489 
Ratings 3
477 511 
Commodity Insights 4
187 158 
Mobility 5
64 18 
Indices 6
238 224 
Engineering Solutions 7
14 1 
Total reportable segments1,209 2,401 
Corporate Unallocated expense 8
(79)(512)
Equity in Income on Unconsolidated Subsidiaries 9
14 3 
Total operating profit$1,144$1,892
1Revenue for Ratings and expenses for Market Intelligence include an intersegment royalty charged to Market Intelligence for the rights to use and distribute content and data developed by Ratings.
2 Operating profit for 2023 includes a gain on dispositions of $46 million, IHS Markit merger costs of $13 million, and employee severance charges of $6 million. Operating profit for 2022 includes a gain on disposition of $1.3 billion, employee severance charges of $18 million, and acquisition-related costs of $2 million. Additionally, operating profit for 2023 and 2022 includes amortization of intangibles from acquisitions of $141 million and $64 million, respectively.
3     Operating profit for 2023 and 2022 includes employee severance charges of $1 million and $5 million, respectively. Additionally, operating profit for 2023 and 2022 includes amortization of intangibles from acquisitions of $2 million.
4 Operating profit for 2023 includes IHS Markit merger costs of $13 million and employee severance charges of $2 million. Operating profit for 2022 includes employee severance costs of $7 million and acquisition-related costs of $2 million. Additionally, operating profit for 2023 and 2022 includes amortization of intangibles from acquisitions of $33 million and $13 million, respectively.
5 Operating profit for 2023 includes IHS Markit merger costs of $1 million and acquisition-related costs of $1 million. 2022 includes acquisition-related costs of $1 million. Additionally, operating profit for 2023 and 2022 includes amortization of intangibles from acquisitions of $74 million and $24 million, respectively.
6 Operating profit for 2023 includes a gain on disposition of $4 million, employee severance charges of $1 million and IHS Markit merger costs of $1 million. Operating profit for 2022 includes employee severance charges of $2 million. Additionally, operating profit for 2023 and 2022 includes amortization of intangibles from acquisitions of $9 million and $4 million, respectively.
7 Operating profit for 2022 includes employee severance charges of $1 million. Additionally, operating profit for 2023 and 2022 includes amortization of intangibles from acquisitions of $2 million and $4 million, respectively.
8 Corporate Unallocated expense for 2023 includes IHS Markit merger costs of $37 million, disposition-related costs of $13 million, employee severance charges of $1 million, and acquisition-related costs of $1 million. Corporate Unallocated expense for 2022 includes IHS Markit merger costs of $230 million, a S&P Foundation grant of $200 million, employee severance charges of $46 million, acquisition-related costs of $11 million and lease impairments of $5 million. Additionally, Corporate Unallocated expense for 2023 includes amortization of intangibles from acquisitions of $1 million.
9 Equity in Income on Unconsolidated Subsidiaries for 2023 and 2022 includes amortization of intangibles from acquisitions of $14 million.
The following table presents our revenue disaggregated by revenue type for the three months ended March 31:
(in millions)Market IntelligenceRatingsCommodity InsightsMobility IndicesEngineering Solutions
Intersegment Elimination 1
Total
2023
Subscription$890 $— $409 $281 $66 $94 $— $1,740 
Non-subscription / Transaction56 379 80 77 — 6 — 598 
Non-transaction— 445 — — — — (42)403 
Asset-linked fees— — — — 210 — — 210 
Sales usage-based royalties— — 19 — 65 — — 84 
Recurring variable revenue125 — — — — — 125 
Total revenue$1,071 $824 $508 $358 $341 $100 $(42)$3,160 
Timing of revenue recognition
Services transferred at a point in time$56 $379 $80 $77 $— $6 $— $598 
Services transferred over time
1,015 445 428 281 341 94 (42)2,562 
Total revenue$1,071 $824 $508 $358 $341 $100 $(42)$3,160 

(in millions)Market IntelligenceRatingsCommodity InsightsMobilityIndicesEngineering Solutions
Intersegment Elimination 1
Total
2022
Subscription$659 $— $296 $86 $54 $30 $— $1,125 
Non-subscription / Transaction28 404 48 29 — 3 — 512 
Non-transaction— 464 — — — — (39)425 
Asset-linked fees— — — — 218 — — 218 
Sales usage-based royalties— — 19 — 50 — — 69 
Recurring variable revenue40 — — — — 40 
Total revenue$727 $868 $363 $115 $322 $33 $(39)$2,389 
Timing of revenue recognition
Services transferred at a point in time$28 $404 $48 $29 $— $3 $— $512 
Services transferred over time699 464 315 86 322 30 (39)1,877 
Total revenue$727 $868 $363 $115 $322 $33 $(39)$2,389 
1 Intersegment eliminations primarily consists of a royalty charged to Market Intelligence for the rights to use and distribute content and data developed by Ratings.

The following provides revenue by geographic region for the three months ended March 31:
(in millions)20232022
U.S.$1,926 $1,426 
European region711 567 
Asia337 264 
Rest of the world186 132 
Total$3,160 $2,389 
See Note 2 — Acquisitions and Divestitures and Note 10 — Restructuring for additional actions that impacted the segment operating results.
v3.23.1
Commitments and Contingencies
 3 Months Ended
Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Leases

We determine whether an arrangement meets the criteria for an operating lease or a finance lease at the inception of the arrangement. We have operating leases for office space and equipment. Our leases have remaining lease terms of 1 year to 10 years, some of which include options to extend the leases for up to 15 years, and some of which include options to terminate the leases within 1 year. We sublease certain real estate leases to third parties which mainly consist of operating leases for space within our offices.

Leases with an initial term of 12 months or less are not recorded on the balance sheet; we recognize lease expenses for these leases on a straight line-basis over the lease term in operating-related expenses and selling and general expenses.
Operating lease ROU assets and operating lease liabilities are recognized based on the present value of future minimum lease payments over the lease term at commencement date. Our future minimum based payments used to determine our lease liabilities include minimum based rent payments and escalations. As most of our leases do not provide an implicit rate, we use our estimated incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments.
During the three months ended March 31, 2023 and 2022, we a recorded pre-tax impairment charge of $6 million and $5 million related to the impairment and abandonment of operating lease related ROU assets. The impairment charges are included in selling and general expenses within the consolidated statements of income.

The following table provides information on the location and amounts of our leases on our consolidated balance sheets as of March 31, 2023 and December 31, 2022:
(in millions)March 31, December 31,
Balance Sheet Location20232022
Assets
Right of use assetsLease right of use assets$422 $423 
Liabilities
Other current liabilitiesCurrent lease liabilities 120 118 
Lease liabilities — non-currentNon-current lease liabilities566 577 

The components of lease expense for the three months ended March 31 are as follows: 
(in millions)20232022
Operating lease cost$30 $33 
Sublease income(4)(1)
Total lease cost$26 $32 
Supplemental information related to leases for the three months ended March 31 are as follows:
(in millions)20232022
Cash paid for amounts included in the measurement for operating lease liabilities
Operating cash flows for operating leases$39 $38 
Right of use assets obtained in exchange for lease obligations
Operating leases— — 

Weighted-average remaining lease term and discount rate for our operating leases are as follows:
March 31, December 31,
20232022
Weighted-average remaining lease term (years)6.56.6
Weighted-average discount rate 3.19 %3.17 %

Maturities of lease liabilities for our operating leases are as follows:
(in millions)
2023 (Excluding the three months ended March 31, 2023)
$106 
2024119 
2025104 
202692 
202785 
2028 and beyond265 
Total undiscounted lease payments $771 
Less: Imputed interest85 
Present value of lease liabilities$686 

Related Party Agreements

In June of 2012, we entered into a license agreement (the “License Agreement") with the holder of S&P Dow Jones Indices LLC noncontrolling interest, CME Group, replacing the 2005 license agreement between Indices and CME Group. Under the terms of the License Agreement, S&P Dow Jones Indices LLC receives a share of the profits from the trading and clearing of CME Group's equity index products. During the three months ended March 31, 2023 and 2022, S&P Dow Jones Indices LLC earned $44 million and $41 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.

Contractual Obligations

We typically have various contractual obligations, which are recorded as liabilities in our consolidated balance sheets, while other items, such as certain purchase commitments and other executory contracts, are not recognized. For example, we are contractually committed to contracts for information-technology outsourcing, certain enterprise-wide information-technology software licensing and maintenance. In the first quarter of 2023, S&P Global and Amazon Web Services (“AWS”) entered into a multi-year strategic collaboration agreement with a purchase obligation of $1.0 billion, before incremental credits, over a five-year period. With AWS as its preferred cloud provider, S&P Global will enhance its cloud infrastructure, accelerate business growth, engineer new innovations for key industry segments, and help their customers navigate rapidly changing market conditions.

Legal and Regulatory Matters

In the normal course of business both in the United States and abroad, the Company and its subsidiaries are defendants in a number of legal proceedings and are often subjected to government and regulatory proceedings, investigations and inquiries.
A class action lawsuit was filed in Australia on August 7, 2020 against the Company and a subsidiary of the Company. A separate lawsuit was filed against the Company and a subsidiary of the Company in Australia on February 2, 2021 by two entities within the Basis Capital investment group. The lawsuits both relate to alleged investment losses in collateralized debt obligations rated by Ratings prior to the financial crisis. 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.

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

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

In view of the uncertainty inherent in litigation and government and regulatory enforcement matters, we cannot predict the eventual outcome of such matters or the timing of their resolution, or in most cases reasonably estimate what the eventual judgments, damages, fines, penalties or impact of activity (if any) restrictions may be. As a result, we cannot provide assurance that such outcomes will not have a material adverse effect on our consolidated financial condition, cash flows, business or competitive position. As litigation or the process to resolve pending matters progresses, as the case may be, we will continue to review the latest information available and assess our ability to predict the outcome of such matters and the effects, if any, on our consolidated financial condition, cash flows, business or competitive position, which may require that we record liabilities in the consolidated financial statements in future periods.
v3.23.1
Recently Issued or Adopted Accounting Standards
 3 Months Ended
Mar. 31, 2023
Accounting Changes and Error Corrections [Abstract]  
Recently Issued or Adopted Accounting Standards Recently Issued or Adopted Accounting StandardsIn March of 2023, the Financial Accounting Standards Board (“FASB”) issued accounting guidance that requires all entities to amortize leasehold improvements associated with common control leases over the useful life to the common control group. The guidance is effective for reporting periods beginning after December 15, 2023, however, early adoption is permitted. We are currently evaluating the impact of the adoption of this guidance on our consolidated financial statements.In March of 2020, FASB issued accounting guidance to provide temporary optional expedients and exceptions to the current contract modifications and hedge accounting guidance in light of the expected market transition from London Interbank Offered Rate (“LIBOR”) to alternative rates. The new guidance provides optional expedients and exceptions to transactions affected by reference rate reform if certain criteria are met. The transactions primarily include (1) contract modifications, (2) hedging relationships, and (3) sale or transfer of debt securities classified as held-to-maturity. In December of 2022, the FASB amended its guidance to defer the sunset date from December 31, 2022 to December 31, 2024. The Company may elect to adopt the amendments prospectively to transactions existing as of or entered into from the date of adoption through December 31, 2024. We do not expect this guidance to have a significant impact on our consolidated financial statements.
v3.23.1
Nature of Operations and Basis of Presentation (Policies)
 3 Months Ended
Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Nature Of Operations
S&P Global Inc. (together with its consolidated subsidiaries, “S&P Global,” the “Company,” “we,” “us” or “our”) is a provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity, automotive and engineering markets.

Our operations consist of six reportable segments: S&P Global Market Intelligence (“Market Intelligence”), S&P Global Ratings (“Ratings”), S&P Global Commodity Insights (“Commodity Insights”), S&P Global Mobility (“Mobility”), S&P Dow Jones Indices (“Indices” ) and S&P Global Engineering Solutions (“Engineering Solutions”).
•Market Intelligence is a global provider of multi-asset-class data and analytics integrated with purpose-built workflow solutions.
•Ratings is an independent provider of credit ratings, research, and analytics, offering investors and other market participants information, ratings and benchmarks.
•Commodity Insights is a leading independent provider of information and benchmark prices for the commodity and energy markets.
•Mobility is a leading provider of solutions serving the full automotive value chain including vehicle manufacturers (OEMs), automotive suppliers, mobility service providers, retailers, consumers, and finance and insurance companies.
•Indices is a global index provider maintaining a wide variety of valuation and index benchmarks for investment advisors, wealth managers and institutional investors.
•Engineering Solutions is a leading provider of engineering standards and related technical knowledge.
Basis of Presentation
The accompanying unaudited financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. Therefore, the financial statements included herein should be read in conjunction with the financial statements and notes included in our Form 10-K for the year ended December 31, 2022 (our “Form 10-K”).

In the opinion of management, all normal recurring adjustments considered necessary for a fair statement of the results of the interim periods have been included. The operating results for the three months ended March 31, 2023 are not necessarily indicative of the results that may be expected for the full year.
Use of Estimates On an ongoing basis, we evaluate our estimates and assumptions, including those related to revenue recognition, business combinations, allowance for doubtful accounts, valuation of long-lived assets, goodwill and other intangible assets, pension plans, incentive compensation and stock-based compensation, income taxes, contingencies and redeemable noncontrolling interests.
Revenue from Contract with Customer
Contract Assets

Contract assets include unbilled amounts from when the Company transfers service to a customer before a customer pays consideration or before payment is due. As of March 31, 2023 and December 31, 2022, contract assets were $77 million and $60 million, respectively, and are included in accounts receivable in our consolidated balance sheets.

Unearned Revenue

We record unearned revenue when cash payments are received in advance of our performance. The increase in the unearned revenue balance at March 31, 2023 compared to December 31, 2022 is primarily driven by cash payments received in advance of satisfying our performance obligations, partially offset by $1.1 billion of revenues recognized that were included in the unearned revenue balance at the beginning of the period.

Remaining Performance Obligations

Remaining performance obligations represent the transaction price of contracts for work that has not yet been performed. As of March 31, 2023, the aggregate amount of the transaction price allocated to remaining performance obligations was $4.5 billion. We expect to recognize revenue on approximately half and three-quarters of the remaining performance obligations over the next 12 and 24 months, respectively, with the remainder recognized thereafter.

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

Costs to Obtain a Contract

We recognize an asset for the incremental costs of obtaining a contract with a customer if we expect the benefit of those costs to be longer than one year. We have determined that the costs associated with certain sales commission programs are incremental to the costs to obtain contracts with customers and therefore meet the criteria to be capitalized. Total capitalized costs to obtain a contract were $184 million and $175 million as of March 31, 2023 and December 31, 2022, respectively, and are included in prepaid and other current assets and other non-current assets on our consolidated balance sheets. The capitalized asset will be amortized over a period consistent with the transfer to the customer of the goods or services to which the asset relates, calculated based on the customer term and the average life of the products and services underlying the contracts which has been determined to be approximately 5 years. The expense is recorded within selling and general expenses.

We expense sales commissions when incurred if the amortization period is one year or less. These costs are recorded within selling and general expenses.
Recently Issued or Adopted Accounting Standards In March of 2020, FASB issued accounting guidance to provide temporary optional expedients and exceptions to the current contract modifications and hedge accounting guidance in light of the expected market transition from London Interbank Offered Rate (“LIBOR”) to alternative rates. The new guidance provides optional expedients and exceptions to transactions affected by reference rate reform if certain criteria are met. The transactions primarily include (1) contract modifications, (2) hedging relationships, and (3) sale or transfer of debt securities classified as held-to-maturity. In December of 2022, the FASB amended its guidance to defer the sunset date from December 31, 2022 to December 31, 2024. The Company may elect to adopt the amendments prospectively to transactions existing as of or entered into from the date of adoption through December 31, 2024. We do not expect this guidance to have a significant impact on our consolidated financial statements.
v3.23.1
Accounting Policies (Policies)
 3 Months Ended
Mar. 31, 2023
Accounting Changes and Error Corrections [Abstract]  
Recently Issued or Adopted Accounting Standards In March of 2020, FASB issued accounting guidance to provide temporary optional expedients and exceptions to the current contract modifications and hedge accounting guidance in light of the expected market transition from London Interbank Offered Rate (“LIBOR”) to alternative rates. The new guidance provides optional expedients and exceptions to transactions affected by reference rate reform if certain criteria are met. The transactions primarily include (1) contract modifications, (2) hedging relationships, and (3) sale or transfer of debt securities classified as held-to-maturity. In December of 2022, the FASB amended its guidance to defer the sunset date from December 31, 2022 to December 31, 2024. The Company may elect to adopt the amendments prospectively to transactions existing as of or entered into from the date of adoption through December 31, 2024. We do not expect this guidance to have a significant impact on our consolidated financial statements.
v3.23.1
Nature of Operations and Basis of Presentation (Tables)
 3 Months Ended
Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Components of Other Income, Net
The components of other expense (income), net for the three months ended March 31 are as follows:
(in millions)20232022
Other components of net periodic benefit cost$(6)$(4)
Net loss (gain) from investments17 (45)
Other expense (income), net$11 $(49)
v3.23.1
Acquisitions and Divestitures (Tables)
 3 Months Ended
Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
(in millions)February 28, 2022
Assets acquired
Cash and cash equivalents$310 
Accounts receivable, net968 
Prepaid and other current assets224 
Assets of a business held for sale 1,519 
Property and equipment118 
Right of use assets240 
Goodwill31,456 
Other intangible assets18,620 
Equity investments in unconsolidated subsidiaries1,644 
Other non-current assets54 
Total assets acquired$55,153 
Liabilities assumed
Account payable$174 
Accrued compensation90 
Short-term debt968 
Unearned revenue1,053 
Other current liabilities581 
Liabilities of a business held for sale72 
Long-term debt 4,191 
Lease liabilities - non-current231 
Deferred tax liability - non-current4,200 
Other non-current liabilities57 
Total liabilities assumed$11,617 
Total consideration transferred$43,536 
Schedule of Finite-Lived Intangible Assets
The following table sets forth the fair values of the components of the identifiable intangible assets acquired and their useful lives:

(in millions)Fair ValueWeighted Average Useful Lives
Customer relationships$13,596 25 years
Trade names and trademarks1,469 14 years
Developed technology1,043 10 years
Databases2,512 12 years
Total Identified Intangible Assets$18,620 21 years
Schedule of Key Components of Assets and Liabilities Held for Sale
The components of assets and liabilities held for sale in the consolidated balance sheets consist of the following:

(in millions)March 31,December 31,
2023 1
2022 1
Accounts Receivable, net $91 $88 
Goodwill437 437 
Other intangible assets, net696 697 
Other assets89 76 
Assets of a business held for sale$1,313 $1,298 
Accounts payable and accrued expenses$55 $59 
Deferred tax liability26 27 
Unearned revenue171 148 
Liabilities of a business held for sale$252 $234 
1 Assets and liabilities held for sale as of March 31, 2023 and December 31, 2022 relate to Engineering Solutions.
The operating profit of our businesses that were disposed of or classified as held for sale for the three months ended March 31 is as follows:
(in millions)20232022
Operating profit 2
$14 $35 
2 The operating profit presented includes the revenue and recurring direct expenses associated with businesses disposed of or held for sale. The three months ended March 31, 2023 excludes a pre-tax gain related to the sale of LCD and leveraged loan indices of $50 million. The three months ended March 31, 2022 exclude a pre-tax gain related to the sale of CGS of $1.3 billion.
v3.23.1
Debt (Tables)
 3 Months Ended
Mar. 31, 2023
Debt Disclosure [Abstract]  
Schedule of Short-term and Long-term Debt Outstanding
A summary of short-term and long-term debt outstanding is as follows:
(in millions)March 31,
2023		December 31,
2022
4.125% Senior Notes, due 2023 1
$38 $38 
3.625% Senior Notes, due 2024 2
48 48 
4.75% Senior Notes, due 2025 3
4 4 
4.0% Senior Notes, due 2026 4
3 3 
2.95% Senior Notes, due 2027 5
497 496 
2.45% Senior Notes, due 2027 6
1,237 1,237 
4.75% Senior Notes, due 2028 7
821 823 
4.25% Senior Notes, due 2029 8
1,026 1,029 
2.5% Senior Notes, due 2029 9
497 497 
2.70% Sustainability-Linked Senior Notes, due 2029 10
1,234 1,233 
1.25% Senior Notes, due 2030 11
594 594 
2.90% Senior Notes, due 2032 12
1,472 1,472 
6.55% Senior Notes, due 2037 13
290 290 
4.5% Senior Notes, due 2048 14
272 272 
3.25% Senior Notes, due 2049 15
590 590 
3.70% Senior Notes, due 2052 16
974 974 
2.3% Senior Notes, due 2060 17
682 682 
3.9% Senior Notes, due 2062 18
486 486 
Commercial paper898 188 
Total debt11,663 10,956 
Less: short-term debt including current maturities936 226 
Long-term debt$10,727 $10,730 
1     Interest payments are due semiannually on February 1 and August 1.
2     Interest payments are due semiannually on May 1 and November 1.
3     Interest payments are due semiannually on February 15 and August 15.
4     Interest payments are due semiannually on March 1 and September 1.
5    Interest payments are due semiannually on January 22 and July 22, and as of March 31, 2023, the unamortized debt discount and issuance costs total $3 million.
6    Interest payments are due semiannually on March 1 and September 1 and as of March 31, 2023, the unamortized debt discount and issuance costs total $13 million.
7     Interest payments are due semiannually on February 1 and August 1.
8 Interest payments are due semiannually on May 1 and November 1.
9    Interest payments are due semiannually on June 1 and December 1, and as of March 31, 2023, the unamortized debt discount and issuance costs total $3 million.
10    Interest payments are due semiannually on March 1 and September 1 and as of March 31, 2023, the unamortized debt discount and issuance costs total $16 million.
11    Interest payments are due semiannually on February 15 and August 15, and as of March 31, 2023, the unamortized debt discount and issuance costs total $6 million.
12 Interest payments are due semiannually on March 1 and September 1 and as of March 31, 2023, the unamortized debt discount and issuance costs total $28 million.
13    Interest payments are due semiannually on May 15 and November 15, and as of March 31, 2023, the unamortized debt discount and issuance costs total $3 million.
14    Interest payments are due semiannually on May 15 and November 15, and as of March 31, 2023, the unamortized debt discount and issuance costs total $11 million.
15 Interest payments are due semiannually on June 1 and December 1, and as of March 31, 2023, the unamortized debt discount and issuance costs total $10 million.
16    Interest payments are due semiannually on March 1 and September 1 and as of March 31, 2023, the unamortized debt discount and issuance costs total $26 million.
17    Interest payments are due semiannually on February 15 and August 15, and as of March 31, 2023, the unamortized debt discount and issuance costs total $18 million.
18    Interest payments are due semiannually on March 1 and September 1 and as of March 31, 2023, the unamortized debt discount and issuance costs total $14 million.
v3.23.1
Derivative Instruments (Tables)
 3 Months Ended
Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Location and Fair Value Amounts of Cash Flow Hedges The following table provides information on the location and fair value amounts of our cash flow hedges and net investment hedges as of March 31, 2023 and December 31, 2022:
(in millions)March 31, December 31,
Balance Sheet Location20232022
Derivatives designated as cash flow hedges:
Prepaid and other current assets Foreign exchange forward contracts$6 $3 
Other current liabilitiesForeign exchange forward contracts$4 $7 
Other non-current assetsInterest rate swap contracts$110 $145 
Derivatives designated as net investment hedges:
Other non-current assets Cross currency swaps$75 $84 
Schedule of Pre-tax Gains (Losses) on Cash Flow Hedges
The following table provides information on the location and amounts of pre-tax gains (losses) on our cash flow hedges and net investment hedges for the three months ended March 31:
(in millions)Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion)Location of Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (effective portion)Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (effective portion)
2023202220232022
Cash flow hedges - designated as hedging instruments
Foreign exchange forward contracts$6 $(7)Revenue, Selling and general expenses$— $2 
Interest rate swap contracts$(34)$113 Interest expense, net$(1)$— 
Net investment hedges - designated as hedging instruments
Cross currency swaps$(9)$21 Interest expense, net$(1)$(1)
Schedule of Cash Flow Hedges included in AOCI
The activity related to the change in unrealized gains (losses) in accumulated other comprehensive loss was as follows for the three months ended March 31:
(in millions)20232022
Cash Flow Hedges
Foreign exchange forward contracts
Net unrealized gains on cash flow hedges, net of taxes, beginning of period$— $6 
Change in fair value, net of tax4 (3)
Reclassification into earnings, net of tax— (2)
Net unrealized gains on cash flow hedges, net of taxes, end of period$4 $1 
Interest rate swap contracts
Net unrealized gains (losses) on cash flow hedges, net of taxes, beginning of period$48 $(203)
Change in fair value, net of tax(26)85 
Reclassification into earnings, net of tax1 — 
Net unrealized gains (losses) on cash flow hedges, net of taxes, end of period$23 $(118)
Net Investment Hedges
Net unrealized gains (losses) on net investment hedges, net of taxes, beginning of period$56 $(17)
Change in fair value, net of tax(8)14 
Reclassification into earnings, net of tax1 1 
Net unrealized gains (losses) on net investment hedges, net of taxes, end of period$49 $(2)
v3.23.1
Employee Benefits (Tables)
 3 Months Ended
Mar. 31, 2023
Retirement Benefits [Abstract]  
Schedule of Net Periodic Benefit Cost
The components of net periodic benefit cost for our retirement plans and postretirement plans for the three months ended March 31 are as follows: 

(in millions)20232022
Service cost$— $1 
Interest cost18 12 
Expected return on assets(25)(22)
Amortization of prior service credit / actuarial loss1 3 
Net periodic benefit cost$(6)$(6)
v3.23.1
Equity (Tables)
 3 Months Ended
Mar. 31, 2023
Equity [Abstract]  
Schedule of Accelerated Share Repurchase Agreements
The terms of each ASR agreement entered into during the three months ended March 31, 2023 and 2022, structured as outlined above, are as follows:
(in millions, except average price paid per share)
ASR Agreement Initiation DateInitial Shares DeliveredAdditional Shares DeliveredTotal Number of Shares
Purchased		Average Price Paid Per ShareTotal Cash Utilized
February 13, 2023 1
1.1— 1.1$— $500 
March 1, 2022 2
15.24.1 19.3$362.03 $7,000 
1 The ASR agreement was structured as an uncapped ASR agreement in which we paid $500 million and initially received shares valued at 85% of the $500 million at a price equal to the market price of the Company's common stock on February 13, 2023 when the Company received an initial delivery of 1.1 million shares from the ASR program. The final settlement of the transaction under the ASR is expected to be completed no later than the second quarter of 2023. The ASR agreement was executed under our 2022 Repurchase Program.
2 The ASR agreement was structured as an uncapped ASR agreement in which we paid $7 billion and initially received shares valued at 85% of the $7 billion at a share equal to the then market price of the Company's common stock on March 1, 2022 when the company received an initial delivery of 15.2 million shares from the ASR program. We completed the ASR agreement on August 9, 2022 and received an additional 4.1 million shares. The ASR agreement was executed under our 2020 Repurchase Program.
Schedule of Redeemable Noncontrolling Interest Rollforward
Changes to redeemable noncontrolling interest during the three months ended March 31, 2023 were as follows:
(in millions)
Balance as of December 31, 2022$3,267 
Net income attributable to redeemable noncontrolling interest61 
Distributions payable to redeemable noncontrolling interest(52)
Redemption value adjustment120 
Other 1
6 
Balance as of March 31, 2023
$3,402 
1 Relates to foreign currency translation adjustments.
Schedule of Changes in the Components of Accumulated Other Comprehensive Loss
The following table summarizes the changes in the components of accumulated other comprehensive loss for the three months ended March 31, 2023:
(in millions)Foreign Currency Translation AdjustmentsPension and Postretirement Benefit PlansUnrealized Gain (Loss) on Cash Flow HedgesAccumulated Other Comprehensive Loss
Balance as of December 31, 2022$(582)$(349)$45 $(886)
Other comprehensive income (loss) before reclassifications45 11 (22)24 
Reclassifications from accumulated other comprehensive income (loss) to net earnings
— — 21 31 
Net other comprehensive income (loss)45 1 (21)25 
Balance as of March 31, 2023
$(537)$(348)$24 $(861)
1Includes an unrealized gain related to our cross currency swaps. See note 5 – Derivative Instruments for additional detail of items recognized in accumulated other comprehensive loss.
2Reflects amortization of net actuarial losses and is net of a tax benefit of less than $1 million for the three months ended March 31, 2023. See Note 6 — Employee Benefits for additional details of items reclassed from accumulated other comprehensive loss to net earnings.
3See Note 5 — Derivative Instruments for additional details of items reclassified from accumulated other comprehensive loss to net earnings.
v3.23.1
Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 2023
Earnings Per Share [Abstract]  
Schedule of Calculation for Basic and Diluted Earnings per Share The calculation of basic and diluted EPS for the three months ended March 31 is as follows:
(in millions, except per share amounts)20232022
Amounts attributable to S&P Global Inc. common shareholders:
Net income$795 $1,235 
Basic weighted-average number of common shares outstanding
321.3 275.2 
Effect of stock options and other dilutive securities0.8 1.1 
Diluted weighted-average number of common shares outstanding
322.1 276.3 
Earnings per share attributable to S&P Global Inc. common shareholders:
Net income:
Basic$2.47 $4.49 
Diluted$2.47 $4.47 
v3.23.1
Restructuring (Tables)
 3 Months Ended
Mar. 31, 2023
Restructuring and Related Activities [Abstract]  
Schedule of Initial Restructuring Charge Recorded and the Ending Reserve Balance The initial restructuring charge recorded and the ending reserve balance as of March 31, 2023 by segment is as follows:
2023 Restructuring Plan2022 Restructuring Plan
(in millions)Initial Charge RecordedEnding Reserve BalanceInitial Charge RecordedEnding Reserve Balance
Market Intelligence$6 $6 $86 $36 
Ratings1 1 26 10 
Commodity Insights 2 2 45 17 
Mobility — — 2 2 
Indices1 1 13 7 
Engineering Solutions— — 2 1 
Corporate 2 2 109 30 
Total $12 $12 $283 $103 
v3.23.1
Segment and Related Information (Tables)
 3 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]  
Schedule of Segment Information
A summary of operating results for the three months ended March 31 is as follows: 
Revenue
(in millions)20232022
Market Intelligence $1,071 $727 
Ratings 824 868 
Commodity Insights 508 363 
Mobility358 115 
Indices 341 322 
Engineering Solutions100 33 
Intersegment elimination 1
(42)(39)
Total revenue$3,160 $2,389 
Operating Profit
(in millions)20232022
Market Intelligence 2
$229 $1,489 
Ratings 3
477 511 
Commodity Insights 4
187 158 
Mobility 5
64 18 
Indices 6
238 224 
Engineering Solutions 7
14 1 
Total reportable segments1,209 2,401 
Corporate Unallocated expense 8
(79)(512)
Equity in Income on Unconsolidated Subsidiaries 9
14 3 
Total operating profit$1,144$1,892
1Revenue for Ratings and expenses for Market Intelligence include an intersegment royalty charged to Market Intelligence for the rights to use and distribute content and data developed by Ratings.
2 Operating profit for 2023 includes a gain on dispositions of $46 million, IHS Markit merger costs of $13 million, and employee severance charges of $6 million. Operating profit for 2022 includes a gain on disposition of $1.3 billion, employee severance charges of $18 million, and acquisition-related costs of $2 million. Additionally, operating profit for 2023 and 2022 includes amortization of intangibles from acquisitions of $141 million and $64 million, respectively.
3     Operating profit for 2023 and 2022 includes employee severance charges of $1 million and $5 million, respectively. Additionally, operating profit for 2023 and 2022 includes amortization of intangibles from acquisitions of $2 million.
4 Operating profit for 2023 includes IHS Markit merger costs of $13 million and employee severance charges of $2 million. Operating profit for 2022 includes employee severance costs of $7 million and acquisition-related costs of $2 million. Additionally, operating profit for 2023 and 2022 includes amortization of intangibles from acquisitions of $33 million and $13 million, respectively.
5 Operating profit for 2023 includes IHS Markit merger costs of $1 million and acquisition-related costs of $1 million. 2022 includes acquisition-related costs of $1 million. Additionally, operating profit for 2023 and 2022 includes amortization of intangibles from acquisitions of $74 million and $24 million, respectively.
6 Operating profit for 2023 includes a gain on disposition of $4 million, employee severance charges of $1 million and IHS Markit merger costs of $1 million. Operating profit for 2022 includes employee severance charges of $2 million. Additionally, operating profit for 2023 and 2022 includes amortization of intangibles from acquisitions of $9 million and $4 million, respectively.
7 Operating profit for 2022 includes employee severance charges of $1 million. Additionally, operating profit for 2023 and 2022 includes amortization of intangibles from acquisitions of $2 million and $4 million, respectively.
8 Corporate Unallocated expense for 2023 includes IHS Markit merger costs of $37 million, disposition-related costs of $13 million, employee severance charges of $1 million, and acquisition-related costs of $1 million. Corporate Unallocated expense for 2022 includes IHS Markit merger costs of $230 million, a S&P Foundation grant of $200 million, employee severance charges of $46 million, acquisition-related costs of $11 million and lease impairments of $5 million. Additionally, Corporate Unallocated expense for 2023 includes amortization of intangibles from acquisitions of $1 million.
9 Equity in Income on Unconsolidated Subsidiaries for 2023 and 2022 includes amortization of intangibles from acquisitions of $14 million.
The following table presents our revenue disaggregated by revenue type for the three months ended March 31:
(in millions)Market IntelligenceRatingsCommodity InsightsMobility IndicesEngineering Solutions
Intersegment Elimination 1
Total
2023
Subscription$890 $— $409 $281 $66 $94 $— $1,740 
Non-subscription / Transaction56 379 80 77 — 6 — 598 
Non-transaction— 445 — — — — (42)403 
Asset-linked fees— — — — 210 — — 210 
Sales usage-based royalties— — 19 — 65 — — 84 
Recurring variable revenue125 — — — — — 125 
Total revenue$1,071 $824 $508 $358 $341 $100 $(42)$3,160 
Timing of revenue recognition
Services transferred at a point in time$56 $379 $80 $77 $— $6 $— $598 
Services transferred over time
1,015 445 428 281 341 94 (42)2,562 
Total revenue$1,071 $824 $508 $358 $341 $100 $(42)$3,160 

(in millions)Market IntelligenceRatingsCommodity InsightsMobilityIndicesEngineering Solutions
Intersegment Elimination 1
Total
2022
Subscription$659 $— $296 $86 $54 $30 $— $1,125 
Non-subscription / Transaction28 404 48 29 — 3 — 512 
Non-transaction— 464 — — — — (39)425 
Asset-linked fees— — — — 218 — — 218 
Sales usage-based royalties— — 19 — 50 — — 69 
Recurring variable revenue40 — — — — 40 
Total revenue$727 $868 $363 $115 $322 $33 $(39)$2,389 
Timing of revenue recognition
Services transferred at a point in time$28 $404 $48 $29 $— $3 $— $512 
Services transferred over time699 464 315 86 322 30 (39)1,877 
Total revenue$727 $868 $363 $115 $322 $33 $(39)$2,389 
1 Intersegment eliminations primarily consists of a royalty charged to Market Intelligence for the rights to use and distribute content and data developed by Ratings.
Schedule of Revenue by Geographic Region
The following provides revenue by geographic region for the three months ended March 31:
(in millions)20232022
U.S.$1,926 $1,426 
European region711 567 
Asia337 264 
Rest of the world186 132 
Total$3,160 $2,389 
v3.23.1
Commitments and Contingencies (Tables)
 3 Months Ended
Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Location and Amounts of Leases
The following table provides information on the location and amounts of our leases on our consolidated balance sheets as of March 31, 2023 and December 31, 2022:
(in millions)March 31, December 31,
Balance Sheet Location20232022
Assets
Right of use assetsLease right of use assets$422 $423 
Liabilities
Other current liabilitiesCurrent lease liabilities 120 118 
Lease liabilities — non-currentNon-current lease liabilities566 577 
Schedule of Components of Lease Expense and Supplemental Cash Flow Information
The components of lease expense for the three months ended March 31 are as follows: 
(in millions)20232022
Operating lease cost$30 $33 
Sublease income(4)(1)
Total lease cost$26 $32 
Supplemental information related to leases for the three months ended March 31 are as follows:
(in millions)20232022
Cash paid for amounts included in the measurement for operating lease liabilities
Operating cash flows for operating leases$39 $38 
Right of use assets obtained in exchange for lease obligations
Operating leases— — 
Schedule of Lease Term and Discount Rate
Weighted-average remaining lease term and discount rate for our operating leases are as follows:
March 31, December 31,
20232022
Weighted-average remaining lease term (years)6.56.6
Weighted-average discount rate 3.19 %3.17 %
Schedule of Maturities of Operating Lease Liabilities Maturities of lease liabilities for our operating leases are as follows:
(in millions)
2023 (Excluding the three months ended March 31, 2023)
$106 
2024119 
2025104 
202692 
202785 
2028 and beyond265 
Total undiscounted lease payments $771 
Less: Imputed interest85 
Present value of lease liabilities$686 
v3.23.1
Nature of Operations and Basis of Presentation - Narrative (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2023
USD ($)
segment
Dec. 31, 2022
USD ($)
Business Acquisition [Line Items]    
Number of reportable segments | segment 6  
Restricted cash $ 3 $ 1
Contract asset 77 60
Unearned revenue 1,100  
Capitalized contract costs $ 184 $ 175
Amortization period of capitalized contract cost 5 years  
Corporate Joint Venture | OSTTRA    
Business Acquisition [Line Items]    
Investment in joint venture percentage 50.00%  
Noncontrolling interest ownership by noncontrolling owners percentage 50.00%  
v3.23.1
Nature of Operations and Basis of Presentation - Remaining Performance Obligations (Details)
$ in Billions
Mar. 31, 2023
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligations $ 4.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01 | 12 months  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation percentage 50.00%
Period of recognition for remaining performance obligation 12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01 | 24 months  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation percentage 75.00%
Period of recognition for remaining performance obligation 24 months
v3.23.1
Nature of Operations and Basis of Presentation - Schedule of Components of Other Income, Net (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Other components of net periodic benefit cost $ (6) $ (4)
Net loss (gain) from investments 17 (45)
Other expense (income), net $ 11 $ (49)
v3.23.1
Acquisitions and Divestitures - Narrative (Details) - USD ($)
 1 Months Ended 3 Months Ended
Jan. 14, 2023
Feb. 28, 2022
Mar. 31, 2023
Mar. 31, 2022
Business Acquisition [Line Items]        
Pre-tax gain (loss) on sale     $ 50,000,000 $ 1,344,000,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations | LCD        
Business Acquisition [Line Items]        
Pre-tax gain (loss) on sale     $ 50,000,000  
Disposal Group, Disposed of by Sale, Not Discontinued Operations | LCD | Market Intelligence        
Business Acquisition [Line Items]        
Contingent consideration, Payment due following closing, period     6 months  
Pre-tax gain (loss) on sale     $ 46,000,000  
Gain (loss) on disposition after tax     34,000,000  
Disposal Group, Disposed of by Sale, Not Discontinued Operations | LCD | Indices        
Business Acquisition [Line Items]        
Pre-tax gain (loss) on sale     4,000,000  
Gain (loss) on disposition after tax     $ 3,000,000  
Disposal Group, Disposed of by Sale, Not Discontinued Operations | CUSIP Global Services        
Business Acquisition [Line Items]        
Pre-tax gain (loss) on sale       1,344,000,000
Gain (loss) on disposition after tax       999,000,000
Divestiture consideration       $ 1,925,000,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations | OPIS        
Business Acquisition [Line Items]        
Pre-tax gain (loss) on sale   $ 0    
Divestiture consideration   1,150,000,000    
Disposal Group, Held-for-sale, Not Discontinued Operations | Engineering Solutions Segment        
Business Acquisition [Line Items]        
Divestiture consideration $ 975,000,000      
Disposal Group, Held-for-sale, Not Discontinued Operations | Engineering Solutions Business        
Business Acquisition [Line Items]        
Proceeds from divestiture of business $ 750,000,000      
IHS Markit        
Business Acquisition [Line Items]        
Fair value of S&P Global common stock and replacement equity awards   $ 43,500,000,000    
v3.23.1
Acquisitions and Divestitures - Merger with IHS Markit (Details)
$ in Billions
Feb. 28, 2022
USD ($)
IHS Markit  
Business Acquisition [Line Items]  
Fair value of S&P Global common stock and replacement equity awards $ 43.5
v3.23.1
Acquisitions and Divestitures - Schedule of Preliminary Estimated Fair Value (Details) - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Feb. 28, 2022
Assets acquired      
Goodwill $ 34,817 $ 34,545  
IHS Markit      
Assets acquired      
Cash and cash equivalents     $ 310
Accounts receivable, net     968
Prepaid and other current assets     224
Assets of a business held for sale     1,519
Property and equipment     118
Right of use assets     240
Goodwill     31,456
Other intangible assets     18,620
Equity investments in unconsolidated subsidiaries     1,644
Other non-current assets     54
Total assets acquired     55,153
Liabilities assumed      
Account payable     174
Accrued compensation     90
Short-term debt     968
Unearned revenue     1,053
Other current liabilities     581
Liabilities of a business held for sale     72
Long-term debt     4,191
Lease liabilities - non-current     231
Deferred tax liability - non-current     4,200
Other non-current liabilities     57
Total liabilities assumed     11,617
Total consideration transferred     $ 43,536
v3.23.1
Acquisitions and Divestitures - Acquired Identifiable Intangibles Assets (Details)
$ in Millions
Feb. 28, 2022
USD ($)
Finite-Lived Intangible Assets [Line Items]  
Fair Value $ 18,620
Weighted Average Useful Lives 21 years
Customer relationships  
Finite-Lived Intangible Assets [Line Items]  
Fair Value $ 13,596
Weighted Average Useful Lives 25 years
Trade names and trademarks  
Finite-Lived Intangible Assets [Line Items]  
Fair Value $ 1,469
Weighted Average Useful Lives 14 years
Developed technology  
Finite-Lived Intangible Assets [Line Items]  
Fair Value $ 1,043
Weighted Average Useful Lives 10 years
Databases  
Finite-Lived Intangible Assets [Line Items]  
Fair Value $ 2,512
Weighted Average Useful Lives 12 years
v3.23.1
Acquisitions and Divestitures - Schedule of Components of Assets and Liabilities Held for Sale (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]      
Pre-tax gain (loss) on sale $ 50 $ 1,344  
Sale | LCD      
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]      
Pre-tax gain (loss) on sale 50    
Sale | CUSIP Global Services      
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]      
Pre-tax gain (loss) on sale   1,344  
Held for sale | CGS and LCD      
Disposal Group, Including Discontinued Operation, Assets [Abstract]      
Accounts Receivable, net 91   $ 88
Goodwill 437   437
Other intangible assets, net 696   697
Other assets 89   76
Assets of a business held for sale 1,313   1,298
Disposal Group, Including Discontinued Operation, Liabilities [Abstract]      
Accounts payable and accrued expenses 55   59
Deferred tax liability 26   27
Unearned revenue 171   148
Liabilities of a business held for sale 252   $ 234
Held for sale or disposed      
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]      
Operating profit $ 14 $ 35  
v3.23.1
Income Taxes - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Effective income tax rate (as a percent) 17.90% 30.40%  
Unrecognized tax benefits $ 236   $ 223
Accrued interest and penalties associated with unrecognized tax benefits 42   $ 38
Reduction of unrecognized tax benefits is reasonably possible $ 20    
v3.23.1
Debt - Schedule of Short-term and Long-term Debt Outstanding (Details) - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Debt Instrument [Line Items]    
Total debt $ 11,663 $ 10,956
Less: short-term debt including current maturities 936 226
Long-term debt $ 10,727 10,730
Senior Notes | 4.125% Senior Notes due 2023    
Debt Instrument [Line Items]    
Stated interest rate 4.125%  
Total debt $ 38 38
Senior Notes | 3.625% Senior Notes due 2024    
Debt Instrument [Line Items]    
Stated interest rate 3.625%  
Total debt $ 48 48
Senior Notes | 4.75% Senior Notes due 2025    
Debt Instrument [Line Items]    
Stated interest rate 4.75%  
Total debt $ 4 4
Senior Notes | 4.00% Senior Notes due 2026    
Debt Instrument [Line Items]    
Stated interest rate 4.00%  
Total debt $ 3 3
Senior Notes | 2.95% Senior Notes due 2027    
Debt Instrument [Line Items]    
Stated interest rate 2.95%  
Total debt $ 497 496
Unamortized debt discount and issuance costs $ 3  
Senior Notes | 2.45% Senior Notes due 2027    
Debt Instrument [Line Items]    
Stated interest rate 2.45%  
Total debt $ 1,237 1,237
Unamortized debt discount and issuance costs $ 13  
Senior Notes | 4.75% Senior Notes due 2028    
Debt Instrument [Line Items]    
Stated interest rate 4.75%  
Total debt $ 821 823
Senior Notes | 4.25% Senior Notes due 2029    
Debt Instrument [Line Items]    
Stated interest rate 4.25%  
Total debt $ 1,026 1,029
Senior Notes | 2.5% Senior Notes due 2029    
Debt Instrument [Line Items]    
Stated interest rate 2.50%  
Total debt $ 497 497
Unamortized debt discount and issuance costs $ 3  
Senior Notes | 2.7% Sustainability-Linked Senior Notes, due 2029    
Debt Instrument [Line Items]    
Stated interest rate 2.70%  
Total debt $ 1,234 1,233
Unamortized debt discount and issuance costs $ 16  
Senior Notes | 1.25% Senior Notes due 2030    
Debt Instrument [Line Items]    
Stated interest rate 1.25%  
Total debt $ 594 594
Unamortized debt discount and issuance costs $ 6  
Senior Notes | 2.90% Senior Notes due 2032    
Debt Instrument [Line Items]    
Stated interest rate 2.90%  
Total debt $ 1,472 1,472
Unamortized debt discount and issuance costs $ 28  
Senior Notes | 6.55% Senior Notes due 2037    
Debt Instrument [Line Items]    
Stated interest rate 6.55%  
Total debt $ 290 290
Unamortized debt discount and issuance costs $ 3  
Senior Notes | 4.5% Senior Notes due 2048    
Debt Instrument [Line Items]    
Stated interest rate 4.50%  
Total debt $ 272 272
Unamortized debt discount and issuance costs $ 11  
Senior Notes | 3.25% Senior Notes due 2049    
Debt Instrument [Line Items]    
Stated interest rate 3.25%  
Total debt $ 590 590
Unamortized debt discount and issuance costs $ 10  
Senior Notes | 3.70% Senior Notes due 2052    
Debt Instrument [Line Items]    
Stated interest rate 3.70%  
Total debt $ 974 974
Unamortized debt discount and issuance costs $ 26  
Senior Notes | 2.3% Senior Notes due 2060    
Debt Instrument [Line Items]    
Stated interest rate 2.30%  
Total debt $ 682 682
Unamortized debt discount and issuance costs $ 18  
Senior Notes | 3.9% Senior Notes due 2062    
Debt Instrument [Line Items]    
Stated interest rate 3.90%  
Total debt $ 486 486
Unamortized debt discount and issuance costs 14  
Commercial paper    
Debt Instrument [Line Items]    
Total debt $ 898 $ 188
v3.23.1
Debt - Narrative (Details)
 3 Months Ended
Jun. 30, 2018
USD ($)
Mar. 31, 2023
USD ($)
performance_indicator
Mar. 31, 2022
USD ($)
Dec. 31, 2022
USD ($)
Feb. 28, 2022
USD ($)
Debt Instrument [Line Items]          
Long-term debt, fair value   $ 9,500,000,000   $ 9,300,000,000  
Gain (loss) on extinguishment of debt   0 $ (17,000,000)    
Tender premium paid     118,000,000    
Debt issued     $ 101,000,000    
Commercial paper, at carrying value   $ 898,000,000   $ 188,000,000  
Indebtedness to cash flow (not greater than)   4      
Commercial paper          
Debt Instrument [Line Items]          
Maximum borrowing capacity $ 2,000,000,000        
Revolving Credit Facility          
Debt Instrument [Line Items]          
Performance indicators | performance_indicator   3      
Credit Facility | Revolving Credit Facility          
Debt Instrument [Line Items]          
Maximum borrowing capacity $ 2,000,000,000        
Credit facility term 5 years        
Commitment fee   0.08%      
Senior Notes          
Debt Instrument [Line Items]          
Debt instrument, fair value         $ 292,000,000
IHS Markit          
Debt Instrument [Line Items]          
Long-term debt         4,191,000,000
IHS Markit | Senior Notes          
Debt Instrument [Line Items]          
Long term debt, principal amount         4,600,000,000
Long-term debt         $ 4,900,000,000
v3.23.1
Derivative Instruments - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Foreign exchange forward contracts | Revenue, Selling and general expenses      
Derivative [Line Items]      
Gain on derivative $ 29    
Loss on derivative   $ 19  
Fair Value Hedging | Not Designated as Hedging Instrument | Foreign exchange forward contracts      
Derivative [Line Items]      
Aggregate notional value 1,600   $ 1,800
Fair Value Hedging | Not Designated as Hedging Instrument | Foreign exchange forward contracts | Prepaid and other current assets      
Derivative [Line Items]      
Aggregate notional value 25   5
Fair Value Hedging | Not Designated as Hedging Instrument | Foreign exchange forward contracts | Other current liabilities      
Derivative [Line Items]      
Aggregate notional value 1   37
Net Investment Hedges | Cross currency swaps      
Derivative [Line Items]      
Net interest expense 9 10  
Net Investment Hedges | Designated as Hedging Instrument | Cross currency swaps      
Derivative [Line Items]      
Aggregate notional value 1,000   1,000
Cash Flow Hedges | Designated as Hedging Instrument | Foreign exchange forward contracts      
Derivative [Line Items]      
Aggregate notional value $ 474   529
Maturity of derivatives 24 months    
Pre-tax gain expected to be reclassified into earnings within the next twelve months (less than) $ 3    
Cash Flow Hedges | Designated as Hedging Instrument | Interest rate swap contracts      
Derivative [Line Items]      
Aggregate notional value   $ 1,400 $ 1,400
v3.23.1
Derivative Instruments - Fair Values of Cash Flow Hedges (Details) - Designated as Hedging Instrument - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Cash Flow Hedges | Foreign exchange forward contracts | Prepaid and other current assets    
Derivatives, Fair Value [Line Items]    
Derivatives $ 6 $ 3
Cash Flow Hedges | Foreign exchange forward contracts | Other current liabilities    
Derivatives, Fair Value [Line Items]    
Derivatives 4 7
Cash Flow Hedges | Interest rate swap contracts | Other non-current assets    
Derivatives, Fair Value [Line Items]    
Derivatives 110 145
Net Investment Hedges | Cross currency swaps | Other non-current assets    
Derivatives, Fair Value [Line Items]    
Derivatives $ 75 $ 84
v3.23.1
Derivative Instruments - Pre-Tax Gains (Losses) on Cash Flow Hedges (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion) $ (21) $ 81
Designated as Hedging Instrument | Foreign exchange forward contracts | Cash Flow Hedges    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion) 6 (7)
Designated as Hedging Instrument | Foreign exchange forward contracts | Cash Flow Hedges | Revenue, Selling and general expenses    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (effective portion) 0 2
Designated as Hedging Instrument | Interest rate swap contracts | Cash Flow Hedges    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion) (34) 113
Designated as Hedging Instrument | Interest rate swap contracts | Cash Flow Hedges | Interest expense, net    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (effective portion) (1) 0
Designated as Hedging Instrument | Cross currency swaps | Net Investment Hedges    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion) (9) 21
Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (effective portion) $ (1) $ (1)
v3.23.1
Derivative Instruments - Change in Unrealized Gains (Losses) in AOCI (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning Balance $ 36,477 $ 2,107
Change in fair value, net of tax 24  
Reclassification into earnings, net of tax 1  
Ending Balance 36,370 39,781
Cash Flow Hedges    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning Balance 0 6
Change in fair value, net of tax 4 (3)
Reclassification into earnings, net of tax 0 (2)
Ending Balance 4 1
Interest rate swap contracts    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning Balance 48 (203)
Change in fair value, net of tax (26) 85
Reclassification into earnings, net of tax 1 0
Ending Balance 23 (118)
Net Investment Hedges    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning Balance 56 (17)
Change in fair value, net of tax (8) 14
Reclassification into earnings, net of tax 1 1
Ending Balance $ 49 $ (2)
v3.23.1
Employee Benefits - Components of Net Periodic Benefit Cost (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Retirement Benefits [Abstract]    
Service cost $ 0 $ 1
Interest cost 18 12
Expected return on assets (25) (22)
Amortization of prior service credit / actuarial loss 1 3
Net periodic benefit cost $ (6) $ (6)
v3.23.1
Employee Benefits - Narrative (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2023
USD ($)
Retirement Benefits [Abstract]  
Contribution towards retirement plans $ 2
Expected contributions towards retirement plans, remainder of the year $ 8
v3.23.1
Stock-Based Compensation - Narrative (Details) - Restricted Stock and Unit Awards - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Stock-based compensation expense $ 46 $ 94
Restricted stock and unit awards granted in period (shares) 0.4  
Weighted-average grant fate fair value (USD per share) $ 338.29  
Unrecognized compensation expense $ 259  
Unrecognized compensation expense, period for recognition 1 year 9 months 18 days  
v3.23.1
Equity - Dividends and Stock Repurchases (Details)
$ / shares in Units, $ in Millions
 1 Months Ended 3 Months Ended
Jan. 25, 2023
$ / shares
Feb. 28, 2023
shares
Mar. 31, 2023
USD ($)
transaction
$ / shares
shares
Mar. 31, 2022
USD ($)
$ / shares
shares
Jun. 22, 2022
shares
Jan. 29, 2020
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Dividends declared per common share (USD per share) | $ / shares $ 0.90   $ 0.90 $ 0.77    
Remaining shares available under repurchase program (shares)     25,700,000      
ARS agreement transactions | transaction     2      
Total Cash Utilized | $     $ 500 $ 7,003    
Shares Delivered and Purchased (shares)     1,600,000      
Uncapped ASR, February 2023            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Total Cash Utilized | $     $ 500      
Uncapped ASR, February 2023 | Total Number of Shares Purchased            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Shares Delivered and Purchased (shares)     1,100,000      
Uncapped ASR, December 2022            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Shares Delivered and Purchased (shares)   400,000        
Uncapped ASR, March 2022            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Total Cash Utilized | $       $ 7,000    
Uncapped ASR, March 2022 | Total Number of Shares Purchased            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Shares Delivered and Purchased (shares)       19,300,000    
2022 Repurchase Program            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Authorized for repurchase (shares)         30,000,000  
Shares authorized for repurchase, compared to total common stock outstanding (as a percent)         9.00%  
2020 Repurchase Program            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Authorized for repurchase (shares)           30,000,000
Shares authorized for repurchase, compared to total common stock outstanding (as a percent)           12.00%
Stock Repurchases | Uncapped ASR, February 2023            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Total Cash Utilized | $     $ 500      
Shares Delivered and Purchased (shares)     1,100,000      
Stock Repurchases | Uncapped ASR, March 2022            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Stock repurchased during period (shares)       15,200,000    
Total Cash Utilized | $       $ 7,000    
v3.23.1
Equity - Accelerated Share Repurchase Program (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended
Feb. 13, 2023
Aug. 09, 2022
Mar. 01, 2022
Mar. 31, 2023
Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Shares Delivered and Purchased (shares)       1.6  
Total Cash Utilized       $ 500 $ 7,003
Uncapped ASR, February 2023          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Average Price Paid Per Share (USD per share)       $ 0  
Total Cash Utilized       $ 500  
Accelerated share repurchases initial delivery percentage (as a percent)       85.00%  
Uncapped ASR, February 2023 | Initial Shares Delivered          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Shares Delivered and Purchased (shares) 1.1        
Uncapped ASR, February 2023 | Additional Shares Delivered          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Shares Delivered and Purchased (shares)       0.0  
Uncapped ASR, February 2023 | Total Number of Shares Purchased          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Shares Delivered and Purchased (shares)       1.1  
Uncapped ASR, March 2022          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Average Price Paid Per Share (USD per share)         $ 362.03
Total Cash Utilized         $ 7,000
Accelerated share repurchases initial delivery percentage (as a percent)         85.00%
Uncapped ASR, March 2022 | Initial Shares Delivered          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Shares Delivered and Purchased (shares)     15.2    
Uncapped ASR, March 2022 | Additional Shares Delivered          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Shares Delivered and Purchased (shares)   4.1     4.1
Uncapped ASR, March 2022 | Total Number of Shares Purchased          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Shares Delivered and Purchased (shares)         19.3
v3.23.1
Equity - Redeemable Noncontrolling Interests (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2023
USD ($)
Noncontrolling Interest [Line Items]  
Minimum interest in joint venture (as a percent) 20.00%
Agreement terms, change of control, put option for minority interest ownership, effective period 15 days
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]  
Balance at beginning of period $ 3,267
Net income attributable to redeemable noncontrolling interest 61
Distributions payable to redeemable noncontrolling interest (52)
Redemption value adjustment 120
Other 6
Balance at end of period $ 3,402
CME Group  
Noncontrolling Interest [Line Items]  
Noncontrolling interest ownership by noncontrolling owners percentage 27.00%
v3.23.1
Equity - Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning Balance $ 36,477 $ 2,107
Other comprehensive income (loss) before reclassifications 24  
Reclassifications from accumulated other comprehensive income (loss) to net earnings 1  
Net other comprehensive income (loss) 25  
Ending Balance 36,370 39,781
Pension and other postretirement benefit plans, tax 0 (1)
Accumulated Other Comprehensive Loss    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning Balance (886) (841)
Ending Balance (861) $ (782)
Foreign Currency Translation Adjustments    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning Balance (582)  
Other comprehensive income (loss) before reclassifications 45  
Reclassifications from accumulated other comprehensive income (loss) to net earnings 0  
Net other comprehensive income (loss) 45  
Ending Balance (537)  
Pension and Postretirement Benefit Plans    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning Balance (349)  
Other comprehensive income (loss) before reclassifications 1  
Reclassifications from accumulated other comprehensive income (loss) to net earnings 0  
Net other comprehensive income (loss) 1  
Ending Balance (348)  
Pension and other postretirement benefit plans, tax 1  
Unrealized Gain (Loss) on Cash Flow Hedges    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning Balance 45  
Other comprehensive income (loss) before reclassifications (22)  
Reclassifications from accumulated other comprehensive income (loss) to net earnings 1  
Net other comprehensive income (loss) (21)  
Ending Balance $ 24  
v3.23.1
Earnings Per Share - Schedule of Calculation for Basic and Diluted Earnings Per Share (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Amounts attributable to S&P Global Inc. common shareholders:    
Net income $ 795 $ 1,235
Basic weighted-average number of common shares outstanding (shares) 321,300,000 275,200,000
Effect of stock options and other dilutive securities (shares) 800,000 1,100,000
Diluted weighted-average number of common shares outstanding (shares) 322,100,000 276,300,000
Net income: Basic (USD per share) $ 2.47 $ 4.49
Net income: Diluted (USD per share) $ 2.47 $ 4.47
Stock options    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive shares excluded from computation of diluted earnings (shares) 0 0
Restricted Stock and Unit Awards    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive shares excluded from computation of diluted earnings (shares) 800,000 700,000
v3.23.1
Restructuring - Narrative (Details)
 3 Months Ended
Mar. 31, 2023
USD ($)
position
Mar. 31, 2022
position
Dec. 31, 2022
USD ($)
2023 Restructuring Plan      
Restructuring Cost and Reserve [Line Items]      
Workforce reduction | position 39    
Employee severance charges $ 12,000,000    
Reductions to restructuring reserve 0    
Restructuring reserve balance 12,000,000    
2022 Restructuring Plan      
Restructuring Cost and Reserve [Line Items]      
Workforce reduction | position   1,440  
Reductions to restructuring reserve 61,000,000    
Restructuring reserve balance 103,000,000   $ 164,000,000
2021 Restructuring Plan      
Restructuring Cost and Reserve [Line Items]      
Restructuring reserve balance $ 3,000,000   $ 10,000,000
v3.23.1
Restructuring - Schedule of Initial Restructuring Charge Recorded and the Ending Reserve Balance (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Dec. 31, 2022
2023 Restructuring Plan    
Restructuring Cost and Reserve [Line Items]    
Initial Charge Recorded $ 12  
Ending Reserve Balance 12  
2023 Restructuring Plan | Operating Segments | Market Intelligence    
Restructuring Cost and Reserve [Line Items]    
Initial Charge Recorded 6  
Ending Reserve Balance 6  
2023 Restructuring Plan | Operating Segments | Ratings    
Restructuring Cost and Reserve [Line Items]    
Initial Charge Recorded 1  
Ending Reserve Balance 1  
2023 Restructuring Plan | Operating Segments | Commodity Insights    
Restructuring Cost and Reserve [Line Items]    
Initial Charge Recorded 2  
Ending Reserve Balance 2  
2023 Restructuring Plan | Operating Segments | Mobility    
Restructuring Cost and Reserve [Line Items]    
Initial Charge Recorded 0  
Ending Reserve Balance 0  
2023 Restructuring Plan | Operating Segments | Indices    
Restructuring Cost and Reserve [Line Items]    
Initial Charge Recorded 1  
Ending Reserve Balance 1  
2023 Restructuring Plan | Operating Segments | Engineering Solutions    
Restructuring Cost and Reserve [Line Items]    
Initial Charge Recorded 0  
Ending Reserve Balance 0  
2023 Restructuring Plan | Corporate    
Restructuring Cost and Reserve [Line Items]    
Initial Charge Recorded 2  
Ending Reserve Balance 2  
2022 Restructuring Plan    
Restructuring Cost and Reserve [Line Items]    
Initial Charge Recorded 283  
Ending Reserve Balance 103 $ 164
2022 Restructuring Plan | Operating Segments | Market Intelligence    
Restructuring Cost and Reserve [Line Items]    
Initial Charge Recorded 86  
Ending Reserve Balance 36  
2022 Restructuring Plan | Operating Segments | Ratings    
Restructuring Cost and Reserve [Line Items]    
Initial Charge Recorded 26  
Ending Reserve Balance 10  
2022 Restructuring Plan | Operating Segments | Commodity Insights    
Restructuring Cost and Reserve [Line Items]    
Initial Charge Recorded 45  
Ending Reserve Balance 17  
2022 Restructuring Plan | Operating Segments | Mobility    
Restructuring Cost and Reserve [Line Items]    
Initial Charge Recorded 2  
Ending Reserve Balance 2  
2022 Restructuring Plan | Operating Segments | Indices    
Restructuring Cost and Reserve [Line Items]    
Initial Charge Recorded 13  
Ending Reserve Balance 7  
2022 Restructuring Plan | Operating Segments | Engineering Solutions    
Restructuring Cost and Reserve [Line Items]    
Initial Charge Recorded 2  
Ending Reserve Balance 1  
2022 Restructuring Plan | Corporate    
Restructuring Cost and Reserve [Line Items]    
Initial Charge Recorded 109  
Ending Reserve Balance $ 30  
v3.23.1
Segment and Related Information - Narrative (Details)
 3 Months Ended
Mar. 31, 2023
segment
Segment Reporting [Abstract]  
Number of reportable segments 6
v3.23.1
Segment and Related Information - Operating Results by Segment (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Segment Reporting Information [Line Items]    
Revenue $ 3,160 $ 2,389
Operating Profit 1,144 1,892
Equity in Income on Unconsolidated Subsidiaries 14 3
Gain (loss) on dispositions 50 1,344
Amortization of intangibles from acquisitions 262 111
Lease impairment 6 5
Recurring variable revenue    
Segment Reporting Information [Line Items]    
Revenue 125 40
Operating Segments    
Segment Reporting Information [Line Items]    
Operating Profit 1,209 2,401
Operating Segments | Market Intelligence    
Segment Reporting Information [Line Items]    
Revenue 1,071 727
Operating Profit 229 1,489
Gain (loss) on dispositions 46 1,300
Acquisition-related costs   2
Employee severance charges 6 18
Amortization of intangibles from acquisitions 141 64
Operating Segments | Market Intelligence | Recurring variable revenue    
Segment Reporting Information [Line Items]    
Revenue 125 40
Operating Segments | Market Intelligence | IHS Markit    
Segment Reporting Information [Line Items]    
Acquisition-related costs 13  
Operating Segments | Ratings    
Segment Reporting Information [Line Items]    
Revenue 824 868
Operating Profit 477 511
Employee severance charges 1 5
Amortization of intangibles from acquisitions 2 2
Operating Segments | Ratings | Recurring variable revenue    
Segment Reporting Information [Line Items]    
Revenue 0 0
Operating Segments | Commodity Insights    
Segment Reporting Information [Line Items]    
Revenue 508 363
Operating Profit 187 158
Acquisition-related costs   2
Employee severance charges 2 7
Amortization of intangibles from acquisitions 33 13
Operating Segments | Commodity Insights | Recurring variable revenue    
Segment Reporting Information [Line Items]    
Revenue 0 0
Operating Segments | Commodity Insights | IHS Markit    
Segment Reporting Information [Line Items]    
Acquisition-related costs 13  
Operating Segments | Mobility    
Segment Reporting Information [Line Items]    
Revenue 358 115
Operating Profit 64 18
Acquisition-related costs 1 1
Amortization of intangibles from acquisitions 74 24
Operating Segments | Mobility | Recurring variable revenue    
Segment Reporting Information [Line Items]    
Revenue 0
Operating Segments | Mobility | IHS Markit    
Segment Reporting Information [Line Items]    
Acquisition-related costs 1  
Operating Segments | Indices    
Segment Reporting Information [Line Items]    
Revenue 341 322
Operating Profit 238 224
Gain (loss) on dispositions 4  
Employee severance charges 1 2
Amortization of intangibles from acquisitions 9 4
Operating Segments | Indices | Recurring variable revenue    
Segment Reporting Information [Line Items]    
Revenue 0 0
Operating Segments | Indices | IHS Markit    
Segment Reporting Information [Line Items]    
Acquisition-related costs 1  
Operating Segments | Engineering Solutions    
Segment Reporting Information [Line Items]    
Revenue 100 33
Operating Profit 14 1
Employee severance charges   1
Amortization of intangibles from acquisitions 2 4
Operating Segments | Engineering Solutions | Recurring variable revenue    
Segment Reporting Information [Line Items]    
Revenue 0
Intersegment Elimination    
Segment Reporting Information [Line Items]    
Revenue (42) (39)
Intersegment Elimination | Recurring variable revenue    
Segment Reporting Information [Line Items]    
Revenue 0
Corporate Unallocated    
Segment Reporting Information [Line Items]    
Operating Profit (79) (512)
Equity in Income on Unconsolidated Subsidiaries 14 3
Acquisition-related costs 1 11
Employee severance charges 1 46
Retention related expenses 13  
S&P foundation grant   200
Lease impairment   5
Amortization of intangibles from acquisitions 14 14
Corporate Unallocated | IHS Markit    
Segment Reporting Information [Line Items]    
Acquisition-related costs 37 $ 230
Amortization of intangibles from acquisitions $ 1  
v3.23.1
Segment and Related Information - Revenue Disaggregated by Type (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Disaggregation of Revenue [Line Items]    
Total revenue $ 3,160 $ 2,389
Services transferred at a point in time    
Disaggregation of Revenue [Line Items]    
Total revenue 598 512
Services transferred over time    
Disaggregation of Revenue [Line Items]    
Total revenue 2,562 1,877
Subscription    
Disaggregation of Revenue [Line Items]    
Total revenue 1,740 1,125
Non-subscription / Transaction    
Disaggregation of Revenue [Line Items]    
Total revenue 598 512
Non-transaction    
Disaggregation of Revenue [Line Items]    
Total revenue 403 425
Asset-linked fees    
Disaggregation of Revenue [Line Items]    
Total revenue 210 218
Sales usage-based royalties    
Disaggregation of Revenue [Line Items]    
Total revenue 84 69
Recurring variable revenue    
Disaggregation of Revenue [Line Items]    
Total revenue 125 40
Operating Segments | Market Intelligence    
Disaggregation of Revenue [Line Items]    
Total revenue 1,071 727
Operating Segments | Market Intelligence | Services transferred at a point in time    
Disaggregation of Revenue [Line Items]    
Total revenue 56 28
Operating Segments | Market Intelligence | Services transferred over time    
Disaggregation of Revenue [Line Items]    
Total revenue 1,015 699
Operating Segments | Market Intelligence | Subscription    
Disaggregation of Revenue [Line Items]    
Total revenue 890 659
Operating Segments | Market Intelligence | Non-subscription / Transaction    
Disaggregation of Revenue [Line Items]    
Total revenue 56 28
Operating Segments | Market Intelligence | Non-transaction    
Disaggregation of Revenue [Line Items]    
Total revenue 0 0
Operating Segments | Market Intelligence | Asset-linked fees    
Disaggregation of Revenue [Line Items]    
Total revenue 0 0
Operating Segments | Market Intelligence | Sales usage-based royalties    
Disaggregation of Revenue [Line Items]    
Total revenue 0 0
Operating Segments | Market Intelligence | Recurring variable revenue    
Disaggregation of Revenue [Line Items]    
Total revenue 125 40
Operating Segments | Ratings    
Disaggregation of Revenue [Line Items]    
Total revenue 824 868
Operating Segments | Ratings | Services transferred at a point in time    
Disaggregation of Revenue [Line Items]    
Total revenue 379 404
Operating Segments | Ratings | Services transferred over time    
Disaggregation of Revenue [Line Items]    
Total revenue 445 464
Operating Segments | Ratings | Subscription    
Disaggregation of Revenue [Line Items]    
Total revenue 0 0
Operating Segments | Ratings | Non-subscription / Transaction    
Disaggregation of Revenue [Line Items]    
Total revenue 379 404
Operating Segments | Ratings | Non-transaction    
Disaggregation of Revenue [Line Items]    
Total revenue 445 464
Operating Segments | Ratings | Asset-linked fees    
Disaggregation of Revenue [Line Items]    
Total revenue 0 0
Operating Segments | Ratings | Sales usage-based royalties    
Disaggregation of Revenue [Line Items]    
Total revenue 0 0
Operating Segments | Ratings | Recurring variable revenue    
Disaggregation of Revenue [Line Items]    
Total revenue 0 0
Operating Segments | Commodity Insights    
Disaggregation of Revenue [Line Items]    
Total revenue 508 363
Operating Segments | Commodity Insights | Services transferred at a point in time    
Disaggregation of Revenue [Line Items]    
Total revenue 80 48
Operating Segments | Commodity Insights | Services transferred over time    
Disaggregation of Revenue [Line Items]    
Total revenue 428 315
Operating Segments | Commodity Insights | Subscription    
Disaggregation of Revenue [Line Items]    
Total revenue 409 296
Operating Segments | Commodity Insights | Non-subscription / Transaction    
Disaggregation of Revenue [Line Items]    
Total revenue 80 48
Operating Segments | Commodity Insights | Non-transaction    
Disaggregation of Revenue [Line Items]    
Total revenue 0 0
Operating Segments | Commodity Insights | Asset-linked fees    
Disaggregation of Revenue [Line Items]    
Total revenue 0 0
Operating Segments | Commodity Insights | Sales usage-based royalties    
Disaggregation of Revenue [Line Items]    
Total revenue 19 19
Operating Segments | Commodity Insights | Recurring variable revenue    
Disaggregation of Revenue [Line Items]    
Total revenue 0 0
Operating Segments | Mobility    
Disaggregation of Revenue [Line Items]    
Total revenue 358 115
Operating Segments | Mobility | Services transferred at a point in time    
Disaggregation of Revenue [Line Items]    
Total revenue 77 29
Operating Segments | Mobility | Services transferred over time    
Disaggregation of Revenue [Line Items]    
Total revenue 281 86
Operating Segments | Mobility | Subscription    
Disaggregation of Revenue [Line Items]    
Total revenue 281 86
Operating Segments | Mobility | Non-subscription / Transaction    
Disaggregation of Revenue [Line Items]    
Total revenue 77 29
Operating Segments | Mobility | Non-transaction    
Disaggregation of Revenue [Line Items]    
Total revenue 0 0
Operating Segments | Mobility | Asset-linked fees    
Disaggregation of Revenue [Line Items]    
Total revenue 0 0
Operating Segments | Mobility | Sales usage-based royalties    
Disaggregation of Revenue [Line Items]    
Total revenue 0 0
Operating Segments | Mobility | Recurring variable revenue    
Disaggregation of Revenue [Line Items]    
Total revenue 0
Operating Segments | Indices    
Disaggregation of Revenue [Line Items]    
Total revenue 341 322
Operating Segments | Indices | Services transferred at a point in time    
Disaggregation of Revenue [Line Items]    
Total revenue 0 0
Operating Segments | Indices | Services transferred over time    
Disaggregation of Revenue [Line Items]    
Total revenue 341 322
Operating Segments | Indices | Subscription    
Disaggregation of Revenue [Line Items]    
Total revenue 66 54
Operating Segments | Indices | Non-subscription / Transaction    
Disaggregation of Revenue [Line Items]    
Total revenue 0 0
Operating Segments | Indices | Non-transaction    
Disaggregation of Revenue [Line Items]    
Total revenue 0 0
Operating Segments | Indices | Asset-linked fees    
Disaggregation of Revenue [Line Items]    
Total revenue 210 218
Operating Segments | Indices | Sales usage-based royalties    
Disaggregation of Revenue [Line Items]    
Total revenue 65 50
Operating Segments | Indices | Recurring variable revenue    
Disaggregation of Revenue [Line Items]    
Total revenue 0 0
Operating Segments | Engineering Solutions    
Disaggregation of Revenue [Line Items]    
Total revenue 100 33
Operating Segments | Engineering Solutions | Services transferred at a point in time    
Disaggregation of Revenue [Line Items]    
Total revenue 6 3
Operating Segments | Engineering Solutions | Services transferred over time    
Disaggregation of Revenue [Line Items]    
Total revenue 94 30
Operating Segments | Engineering Solutions | Subscription    
Disaggregation of Revenue [Line Items]    
Total revenue 94 30
Operating Segments | Engineering Solutions | Non-subscription / Transaction    
Disaggregation of Revenue [Line Items]    
Total revenue 6 3
Operating Segments | Engineering Solutions | Non-transaction    
Disaggregation of Revenue [Line Items]    
Total revenue 0 0
Operating Segments | Engineering Solutions | Asset-linked fees    
Disaggregation of Revenue [Line Items]    
Total revenue 0 0
Operating Segments | Engineering Solutions | Sales usage-based royalties    
Disaggregation of Revenue [Line Items]    
Total revenue 0 0
Operating Segments | Engineering Solutions | Recurring variable revenue    
Disaggregation of Revenue [Line Items]    
Total revenue 0
Intersegment Elimination    
Disaggregation of Revenue [Line Items]    
Total revenue (42) (39)
Intersegment Elimination | Services transferred at a point in time    
Disaggregation of Revenue [Line Items]    
Total revenue 0 0
Intersegment Elimination | Services transferred over time    
Disaggregation of Revenue [Line Items]    
Total revenue (42) (39)
Intersegment Elimination | Subscription    
Disaggregation of Revenue [Line Items]    
Total revenue 0 0
Intersegment Elimination | Non-subscription / Transaction    
Disaggregation of Revenue [Line Items]    
Total revenue 0 0
Intersegment Elimination | Non-transaction    
Disaggregation of Revenue [Line Items]    
Total revenue (42) (39)
Intersegment Elimination | Asset-linked fees    
Disaggregation of Revenue [Line Items]    
Total revenue 0 0
Intersegment Elimination | Sales usage-based royalties    
Disaggregation of Revenue [Line Items]    
Total revenue 0 0
Intersegment Elimination | Recurring variable revenue    
Disaggregation of Revenue [Line Items]    
Total revenue $ 0
v3.23.1
Segment and Related Information - Revenue by Geographic Region (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]    
Revenue $ 3,160 $ 2,389
U.S.    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Revenue 1,926 1,426
European region    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Revenue 711 567
Asia    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Revenue 337 264
Rest of the world    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Revenue $ 186 $ 132
v3.23.1
Commitments and Contingencies - Narrative (Details)
$ in Millions
 3 Months Ended
Feb. 02, 2021
plaintiff
Mar. 31, 2023
USD ($)
Mar. 31, 2022
USD ($)
Loss Contingencies [Line Items]      
Period of lease extension options   15 years  
Option to terminate lease, period   1 year  
Lease impairment   $ 6 $ 5
Amazon Web Services      
Loss Contingencies [Line Items]      
Collaborative arrangement, purchase obligation   $ 1,000  
Collaborative arrangement, contractual period   5 years  
Basis Capital Investment Group, Investment Losses On Collateralized Debt Obligations      
Loss Contingencies [Line Items]      
Number of entities | plaintiff 2    
CME Group      
Loss Contingencies [Line Items]      
Noncontrolling interest ownership by noncontrolling owners percentage   27.00%  
S&P DJ Indices | CME Group      
Loss Contingencies [Line Items]      
Noncontrolling interest ownership by noncontrolling owners percentage   27.00%  
S&P DJ Indices | CME Group      
Loss Contingencies [Line Items]      
Revenues earned under license agreement   $ 44 $ 41
Minimum      
Loss Contingencies [Line Items]      
Remaining lease terms   1 year  
Maximum      
Loss Contingencies [Line Items]      
Remaining lease terms   10 years  
v3.23.1
Commitments and Contingencies - Location and Amounts of Leases (Details) - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Assets    
Lease right of use assets $ 422 $ 423
Liabilities    
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] Other Liabilities, Current Other Liabilities, Current
Current lease liabilities $ 120 $ 118
Non-current lease liabilities $ 566 $ 577
v3.23.1
Commitments and Contingencies - Components of Lease Expense (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]    
Operating lease cost $ 30 $ 33
Sublease income (4) (1)
Total lease cost $ 26 $ 32
v3.23.1
Commitments and Contingencies - Supplemental Cash Flow Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash paid for amounts included in the measurement for operating lease liabilities    
Operating cash flows for operating leases $ 39 $ 38
Right of use assets obtained in exchange for lease obligations    
Operating leases $ 0 $ 0
v3.23.1
Commitments and Contingencies - Lease Term and Discount Rate (Details)
Mar. 31, 2023
Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]    
Weighted-average remaining lease term (years) 6 years 6 months 6 years 7 months 6 days
Weighted-average discount rate 3.19% 3.17%
v3.23.1
Commitments and Contingencies - Maturities of Lease Liabilities (Details)
$ in Millions
Mar. 31, 2023
USD ($)
Commitments and Contingencies Disclosure [Abstract]  
2023 (Excluding the three months ended March 31, 2023) $ 106
2024 119
2025 104
2026 92
2027 85
2028 and beyond 265
Total undiscounted lease payments 771
Less: Imputed interest 85
Present value of lease liabilities $ 686