Document and Entity Information - shares shares in Millions	9 Months Ended
Document and Entity Information - shares shares in Millions	Sep. 30, 2018	Oct. 19, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	S&P Global Inc.
Entity Central Index Key	0000064040
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Amendment Flag	false
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Emerging Growth Company	false
Small Business	false
Entity Common Stock, Shares Outstanding		250.9

Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Statement [Abstract]
Revenue	$ 1,546	$ 1,513	$ 4,721	$ 4,475
Expenses:
Operating-related expenses	406	419	1,290	1,262
Selling and general expenses	383	399	1,194	1,123
Depreciation	20	22	60	61
Amortization of intangibles	33	24	91	73
Total expenses	842	864	2,635	2,519
Operating profit	704	649	2,086	1,956
Other income, net	(6)	(9)	(22)	(26)
Interest expense, net	38	37	98	110
Income before taxes on income	672	621	2,010	1,872
Provision for taxes on income	137	169	440	533
Net income	535	452	1,570	1,339
Less: net income attributable to noncontrolling interests	(40)	(38)	(123)	(105)
Net income attributable to S&P Global Inc.	$ 495	$ 414	$ 1,447	$ 1,234
Net income:
Basic (USD per share)	$ 1.97	$ 1.62	$ 5.75	$ 4.80
Diluted (USD per share)	$ 1.95	$ 1.61	$ 5.70	$ 4.75
Weighted-average number of common shares outstanding:
Basic (shares)	251.3	255.5	251.6	257.0
Diluted (shares)	253.5	257.9	253.7	259.5
Actual shares outstanding at period end (shares)			250.9	255.0
Dividend declared per common share (USD per share)	$ 0.5	$ 0.41	$ 1.5	$ 1.23

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 535	$ 452	$ 1,570	$ 1,339
Other comprehensive income:
Foreign currency translation adjustment	(1)	24	(53)	96
Income tax effect	2	0	(1)	0
Foreign currency translation adjustment, net of income tax effect	1	24	(54)	96
Pension and other postretirement benefit plans	5	3	(6)	7
Income tax effect	(1)	(1)	2	0
Pension and other postretirement benefit plans, net of income tax effect	4	2	(4)	7
Unrealized loss on investment and forward exchange contracts	(4)	(4)	(8)	(7)
Income tax effect	1	(1)	2	(1)
Unrealized gain on forward exchange contracts, net of income tax effect	(3)	(5)	(6)	(8)
Comprehensive income	537	473	1,506	1,434
Less: comprehensive income attributable to nonredeemable noncontrolling interests	(4)	(4)	(11)	(10)
Less: comprehensive income attributable to redeemable noncontrolling interests	(36)	(34)	(112)	(95)
Comprehensive income attributable to S&P Global Inc.	$ 497	$ 435	$ 1,383	$ 1,329

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 2,158	$ 2,777
Restricted cash	45	2
Accounts receivable, net of allowance for doubtful accounts: 2018 - $35; 2017 - $33	1,237	1,319
Prepaid and other current assets	188	226
Total current assets	3,628	4,324
Property and equipment, net of accumulated depreciation: 2018 - $586; 2017 - $554	275	275
Goodwill	3,544	2,989
Other intangible assets, net	1,420	1,388
Other non-current assets	516	449
Total assets	9,383	9,425
Current liabilities:
Accounts payable	194	195
Accrued compensation and contributions to retirement plans	307	472
Short-term debt	0	399
Income taxes currently payable	92	77
Unearned revenue	1,576	1,613
Accrued legal and regulatory settlements	0	107
Other current liabilities	348	351
Total current liabilities	2,517	3,214
Long-term debt	3,661	3,170
Pension and other postretirement benefits	225	244
Other non-current liabilities	537	679
Total liabilities	6,940	7,307
Redeemable noncontrolling interest (Note 8)	1,485	1,350
Commitments and contingencies (Note 12)
Equity:
Common stock	412	412
Additional paid-in capital	897	525
Retained income	11,003	10,025
Accumulated other comprehensive loss	(703)	(649)
Less: common stock in treasury	(10,704)	(9,602)
Total equity — controlling interests	905	711
Total equity — noncontrolling interests	53	57
Total equity	958	768
Total liabilities and equity	$ 9,383	$ 9,425

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 35	$ 33
Accumulated depreciation	$ 586	$ 554

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Operating Activities:
Net income	$ 1,570	$ 1,339
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	60	61
Amortization of intangibles	91	73
Provision for losses on accounts receivable	16	17
Stock-based compensation	73	65
Other	41	42
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable	62	(64)
Prepaid and other current assets	1	3
Accounts payable and accrued expenses	(167)	(50)
Unearned revenue	(72)	(107)
Accrued legal settlements	(180)	(4)
Other current liabilities	(18)	(94)
Net change in prepaid/accrued income taxes	62	(42)
Net change in other assets and liabilities	(138)	(36)
Cash provided by operating activities	1,401	1,203
Investing Activities:
Capital expenditures	(88)	(77)
Acquisitions, net of cash acquired	(263)	(80)
Proceeds from dispositions	0	2
Changes in short-term investments	5	0
Cash used for investing activities	(346)	(155)
Financing Activities:
Proceeds from issuance of senior notes, net	489	0
Payments on senior notes	(403)	0
Dividends paid to shareholders	(379)	(316)
Distributions to noncontrolling interest holders	(116)	(69)
Purchase of CRISIL shares	(25)	0
Repurchase of treasury shares	(1,108)	(846)
Exercise of stock options	24	69
Employee withholding tax on share-based payments	(61)	(49)
Cash used for financing activities	(1,579)	(1,211)
Effect of exchange rate changes on cash from continuing operations	(52)	83
Net change in cash, cash equivalents, and restricted cash	(576)	(80)
Cash, cash equivalents, and restricted cash at beginning of period	2,779	2,392
Cash, cash equivalents, and restricted cash at end of period	$ 2,203	$ 2,312

Consolidated Statement of Equity (Unaudited) - 9 months ended Sep. 30, 2018 - 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

Balance at beginning of period at Dec. 31, 2017

$ 768

$ 711

$ 412

$ 525

$ 10,025

$ (649)

$ 9,602

$ 57

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

Comprehensive income

^[1]

1,394

1,383

1,447

(64)

11

Dividends

(388)

(379)

(9)

Share repurchases

(1,113)

1,113

Employee stock plans

56

45

(11)

Change in redemption value of redeemable noncontrolling interest

(116)

Increase in CRISIL ownership

(26)

(25)

(1)

Stock consideration for Kensho

352

Other

^[2]

31

36

26

10

(5)

Balance at end of period at Sep. 30, 2018

$ 958

$ 905

$ 412

$ 897

$ 11,003

$ (703)

$ 10,704

$ 53

[1]	Excludes $112 million attributable to our redeemable noncontrolling interest.
[2]	Reflects opening balance sheet adjustments related to the adoption of the new revenue recognition standard and the reclassification of the unrealized loss on investments from Accumulated other comprehensive loss to Retained income. See Note 1 — Nature of Operations and Basis of Presentation for additional details.

Consolidated Statement of Equity (Unaudited) (Parenthetical) $ in Millions	9 Months Ended
	Sep. 30, 2018 USD ($)
Statement of Stockholders' Equity [Abstract]
Net income attributable to noncontrolling interest	$ 112

Nature of Operations and Basis of Presentation

9 Months Ended

Sep. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Nature of Operations and Basis of Presentation

S&P Global Inc. (together with its consolidated subsidiaries, "S&P Global," the “Company,” “we,” “us” or “our”) is a leading provider of transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets worldwide.

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


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


•	Market Intelligence is a global provider of multi-asset-class data, research and analytical capabilities, which integrate cross-asset analytics and desktop services.


•	Platts is the leading independent provider of information and benchmark prices for the commodity and energy markets.


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

In April of 2018, we acquired Kensho Technologies Inc. ("Kensho") for approximately $550 million, net of cash acquired, in a mix of cash and stock. The results of Kensho, an operating segment of the Company, are included in Corporate revenue and Corporate Unallocated for financial reporting purposes. Restricted cash of $37 million included in our consolidated balance sheet as of September 30, 2018 includes amounts held in escrow accounts in connection with our acquisition of Kensho. See Note 2 — Acquisitions and Divestitures and Note 11 — Segment and Related Information for additional information.

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, 2017 (our “Form 10-K”). Certain prior-year amounts have been reclassified to conform with current presentation.

In the opinion of management, all normal recurring adjustments considered necessary for a fair statement of the results of the interim periods have been included. The operating results for the three and nine months ended September 30, 2018 are not necessarily indicative of the results that may be expected for the full year.

Our critical accounting estimates are disclosed in Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, in our Form 10-K. On an ongoing basis, we evaluate our estimates and assumptions, including those related to revenue recognition, allowance for doubtful accounts, valuation of long-lived assets, goodwill and other intangible assets, pension plans, incentive compensation and stock-based compensation, income taxes, contingencies and redeemable noncontrolling interests. Since the date of our Form 10-K, we adopted Financial Accounting Standards Board Accounting Standards Codification ("ASC") 606 as discussed below. There have been no other material changes to our critical accounting policies and estimates.

Adoption of ASC 606, “Revenue from Contracts with Customers”

On January 1, 2018, we adopted ASC 606 "Revenue from Contracts with Customers" using the modified retrospective transition method applied to our revenue contracts with customers as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under ASC 606, while prior year amounts are not adjusted and continue to be reported in accordance with our historic accounting under ASC 605. We recorded a net increase to opening retained earnings of $35 million as of January 1, 2018 due to the cumulative effect of adopting ASC 606, with the impact primarily related to our treatment of costs to obtain a contract and to a lesser extent, changes to the timing of the recognition of our subscription and non-transaction revenues. We recognized incremental revenue of $5 million for nine months ended September 30, 2018 as a result of the adoption of this standard.

Under ASC 606, revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration the entity expects to receive in exchange for those goods or services.

The following table presents our revenue disaggregated by revenue type:



(in millions)	Ratings		Market Intelligence		Platts		Indices		Corporate		Intersegment Elimination ¹			Total

	Three Months Ended September 30, 2018
Subscription	$	—	$	451	$	188	$	41	$	5	$	—		$	685
Non-transaction	372		—		—		—		—		(32		)	340
Non-subscription / Transaction	328		8		2		—		—		—			338
Asset-linked fees	—		5		—		131		—		—			136
Sales usage-based royalties	—		—		14		33		—		—			47
Total revenue	$	700	$	464	$	204	$	205	$	5	$	(32	)	$	1,546

Timing of revenue recognition
Services transferred at a point in time	$	328	$	8	$	2	$	—	$	—	$	—		$	338
Services transferred over time	372		456		202		205		5		(32		)	1,208
Total revenue	$	700	$	464	$	204	$	205	$	5	$	(32	)	$	1,546

	Nine Months Ended September 30, 2018
Subscription	$	—	$	1,306	$	556	$	109	$	10	$	—		$	1,981
Non-transaction	1,129		—		—		—		—		(92		)	1,037
Non-subscription / Transaction	1,094		28		8		—		—		—			1,130
Asset-linked fees	—		15		—		396		—		—			411
Sales usage-based royalties	—		—		40		122		—		—			162
Total revenue	$	2,223	$	1,349	$	604	$	627	$	10	$	(92	)	$	4,721

Timing of revenue recognition
Services transferred at a point in time	$	1,094	$	28	$	8	$	—	$	—	$	—		$	1,130
Services transferred over time	1,129		1,321		596		627		10		(92		)	3,591
Total revenue	$	2,223	$	1,349	$	604	$	627	$	10	$	(92	)	$	4,721



(in millions)	Ratings		Market Intelligence		Platts		Indices		Corporate		Intersegment Elimination ¹			Total

	Three Months Ended September 30, 2017 ²
Subscription	$	—	$	406	$	177	$	36	$	—	$	—		$	619
Non-transaction	367		—		—		—		—		(28		)	339
Non-subscription / Transaction	372		10		2		—		—		—			384
Asset-linked fees	—		6		—		118		—		—			124
Sales usage-based royalties	—		—		14		33		—		—			47
Total revenue	$	739	$	422	$	193	$	187	$	—	$	(28	)	$	1,513

Timing of revenue recognition
Services transferred at a point in time	$	372	$	10	$	2	$	—	$	—	$	—		$	384
Services transferred over time	367		412		191		187		—		(28		)	1,129
Total revenue	$	739	$	422	$	193	$	187	$	—	$	(28	)	$	1,513

	Nine Months Ended September 30, 2017 ²
Subscription	$	—	$	1,189	$	523	$	104	$	—	$	—		$	1,816
Non-transaction	1,061		—		—		—		—		(81		)	980
Non-subscription / Transaction	1,138		32		9		—		—		—			1,179
Asset-linked fees	—		17		—		340		—		—			357
Sales usage-based royalties	—		—		45		98		—		—			143
Total revenue	$	2,199	$	1,238	$	577	$	542	$	—	$	(81	)	$	4,475

Timing of revenue recognition
Services transferred at a point in time	$	1,138	$	32	$	9	$	—	$	—	$	—		$	1,179
Services transferred over time	1,061		1,206		568		542		—		(81		)	3,296
Total revenue	$	2,199	$	1,238	$	577	$	542	$	—	$	(81	)	$	4,475


¹	Intersegment eliminations mainly consists of a royalty charged to Market Intelligence for the rights to use and distribute content and data developed by Ratings.


²	As noted above, amounts for the three and nine months ended September 30, 2017 were not adjusted under the modified retrospective transition method applied to our revenue contracts with customers as of January 1, 2018.

Subscription revenue

Subscription revenue at Market Intelligence is primarily derived from distribution of data, analytics, third party research, and credit ratings-related information primarily through web-based channels including Market Intelligence Desktop, RatingsDirect®, RatingsXpress®, and Credit Analytics. Subscription revenue at Platts is generated by providing customers access to commodity and energy-related price assessments, market data, and real-time news, along with other information services. Subscription revenue at Indices is derived from the contracts for underlying data of our indexes to support our customers' management of index funds, portfolio analytics, and research.

For subscription products and services, we generally provide continuous access to dynamic data sets and analytics for a defined period, with revenue recognized ratably as our performance obligation to provide access to our data and analytics is progressively fulfilled over the stated term of the contract.

Non-transaction revenue

Non-transaction revenue at Ratings is primarily related to surveillance of a credit rating, annual fees for customer relationship-based pricing programs, fees for entity credit ratings and global research and analytics. Non-transaction revenue also includes an intersegment revenue elimination of $32 million and $92 million for the three and nine months ended September 30, 2018, respectively, and $28 million and $81 million for the three and nine months ended September 30, 2017, respectively, mainly consisting of the royalty charged to Market Intelligence for the rights to use and distribute content and data developed by Ratings.

For non-transaction revenue related to Rating’s surveillance services, we continuously monitor factors that impact the creditworthiness of an issuer over the contractual term with revenue recognized to the extent that our performance obligation is progressively fulfilled over the term contract. Because surveillance services are continuously provided throughout the term of the contract, our measure of progress towards fulfillment of our obligation to monitor a rating is a time-based output measure with revenue recognized ratably over the term of the contract.

Non-subscription / Transaction revenue

Transaction revenue at our Ratings segment primarily includes fees associated with:


•	ratings related to new issuance of corporate and government debt instruments; and structured finance instruments;


•	bank loan ratings; and


•	corporate credit estimates, which are intended, based on an abbreviated analysis, to provide an indication of our opinion regarding creditworthiness of a company which does not currently have a Ratings credit rating.

Transaction revenue is recognized at the point in time when our performance obligation is satisfied by issuing a rating on our customer's instruments, our customer's creditworthiness, or a counter-party's creditworthiness and when we have a right to payment and the customer can benefit from the significant risks and rewards of ownership.

Non-subscription revenue at Market Intelligence is primarily related to certain advisory, pricing and analytical services. Non-subscription revenue at Platts is primarily related to conference sponsorship, consulting engagements and events.

Asset-linked fees

Asset-linked fees at Indices and Market Intelligence are primarily related to royalties payments based on the value of assets under management in our customers exchange-traded funds and mutual funds.

For asset-linked products and services, we provide licenses conveying continuous access to our index and benchmark-related intellectual property during a specified contract term. Revenue is recognized when the extent that our customers have used our licensed intellectual property can be quantified. Recognition of revenue for our asset-linked fee arrangements is subject to the "recognition constraint" for usage-based royalty payments because we cannot reasonably predict the value of the assets that will be invested in index funds structured using our intellectual property until it is either publicly available or when we are notified by our customers. Revenue derived from an asset-linked fee arrangement is measured and recognized when the certainty of the extent of its utilization of our index products by our customers is known.

Sales usage-based royalties

Sales usage-based royalty revenue at our Indices segment is primarily related to trading based fees from exchange-traded derivatives. Sales and usage-based royalty revenue at our Platts segment is primarily related to licensing of its proprietary market price data and price assessments to commodity exchanges.

For sales usage-based royalty products and services, we provide licenses conveying the right to continuous access to our intellectual property over the contract term, with revenue recognized when the extent of our license’s utilization can be quantified, or more specifically, when trading volumes are known and publicly available to us or when we are notified by our customers. Recognition of revenue of fees tied to trading volumes is subject to the recognition constraint for a usage-based royalty promised by our customers in exchange for the license of our intellectual property, with revenue recognized when trading volumes are known.

Arrangements with Multiple Performance Obligations

Our contracts with customers may include multiple performance obligations. Revenue relating to agreements that provide for more than one performance obligation is recognized based upon the relative fair value to the customer of each service component as each component is earned. The fair value of the service components are determined using an analysis that considers cash consideration that would be received for instances when the service components are sold separately. If the fair value to the customer for each service is not objectively determinable, we make our best estimate of the services’ stand-alone selling price and record revenue as it is earned over the service period.

Receivables

We record a receivable when a customer is billed or when revenue is recognized prior to billing a customer. For multi-year agreements, we generally invoice customers annually at the beginning of each annual period. The opening balance of accounts receivable, net of allowance for doubtful accounts, was $1,319 million as of January 1, 2018.

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 September 30, 2018 and December 31, 2017, contract assets were $43 million and $17 million, respectively, and are included in accounts receivable in our consolidated balance sheets.

Unearned Revenue

We record unearned revenue when cash payments are received or due in advance of our performance. The decrease in the deferred revenue balance for the three and nine months ended September 30, 2018 is primarily driven by $1.4 billion of revenues recognized that were included in the unearned revenue balance at the beginning of the period, offset by cash payments received or due in advance of satisfying our performance obligations.

Remaining Performance Obligations

Remaining performance obligations represent the transaction price of contracts for work that has not yet been performed. As of September 30, 2018, the aggregate amount of the transaction price allocated to remaining performance obligations was $1.2 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 certain sales commission programs meet the requirements to be capitalized. Total capitalized costs to obtain a contract were $82 million as of September 30, 2018, and is included in prepaid and other current assets and other non-current assets on our consolidated balance sheets. The 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. The expense is recorded within selling and general expenses.

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

Presentation of net periodic pension cost and net periodic postretirement benefit cost

During the first quarter of 2018, we adopted new accounting guidance requiring that net periodic benefit cost for our retirement and postretirement plans other than the service cost component be included outside of operating profit; these costs are included in other income, net in our consolidated statements of income.

The components of other income, net for the three and nine months ended September 30 are as follows:



(in millions)	Three Months						Nine Months
	2018			2017			2018			2017
Other components of net periodic benefit cost	$	(8	)	$	(9	)	$	(24	)	$	(26	)
Net loss from investments ¹	2			—			2			—
Other income, net	$	(6	)	$	(9	)	$	(22	)	$	(26	)


¹	Primarily relates to the change in fair value of CRISIL's investment in Care Ratings Limited ("CARE"). The investment balance of CARE as of September 30, 2018 and December 31, 2017 is $43 million and $54 million, respectively, and is included in non-current assets in our consolidated balance sheets.

Acquisitions and Divestitures	9 Months Ended
Acquisitions and Divestitures	Sep. 30, 2018
Business Combinations [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures Acquisitions 2018 In August of 2018, we acquired a 5.03% investment in FiscalNote, a technology innovator at the intersection of global business and government that provides advanced, data-driven Issues Management solutions. The investment in FiscalNote is not material to our consolidated financial statements. In June of 2018, Market Intelligence acquired the RateWatch business ("RateWatch") from TheStreet, Inc., a B2B data business that offers subscription and custom reports on bank deposits, loans, fees and other product data to the financial services industry. The acquisition will complement and strengthen Market Intelligence's core capabilities of providing differentiated data and analytics solutions for the banking sector. The acquisition of RateWatch is not material to our consolidated financial statements. In April of 2018, we acquired Kensho for approximately $550 million, net of cash acquired, in a mix of cash and stock. Kensho is a leading-edge provider of next-generation analytics, artificial intelligence, machine learning, and data visualization systems to Wall Street's premier global banks and investment institutions, as well as the National Security community. The acquisition will strengthen S&P Global's emerging technology capabilities, enhance our ability to deliver essential, actionable insights that will transform the user experience for our clients, and accelerate efforts to improve efficiency and effectiveness of our core internal operations. The acquisition of Kensho is not material to our consolidated financial statements. In February of 2018, Market Intelligence acquired Panjiva, Inc. ("Panjiva"), a privately-held company that provides deep, differentiated, sector-relevant insights on global supply chains, leveraging data science and technology to make sense of large, unstructured datasets. The acquisition will help strengthen the insights, products and data that we provide to our clients throughout the world. The acquisition of Panjiva is not material to our consolidated financial statements. In January of 2018, CRISIL, included within our Ratings segment, acquired a 100% stake in Pragmatix Services Private Limited ("Pragmatix"), a data analytics company focused on delivering cutting edge solutions in the "data to intelligence" life cycle to the Banking, Financial Services and Insurance vertical. The acquisition will strengthen CRISIL's position as an agile, innovative and global analytics company. The acquisition of Pragmatix is not material to our consolidated financial statements. 2017 In August of 2017, we acquired a 6.02% investment in Algomi Limited ("Algomi"), an innovative fintech company focused on providing software-enabled liquidity solutions to both buy-side and sell-side firms within the credit markets. Our investment in Algomi will help facilitate product collaboration and enable future business expansion. We accounted for the investment in Algomi using the cost method of accounting. The investment with Algomi is not material to our consolidated financial statements. In June of 2017, CRISIL, included within our Ratings segment, acquired 8.9% of the outstanding shares of CARE Ratings Limited ("CARE") from Canara Bank. CARE is a Securities and Exchange Board of India registered credit rating agency providing various rating and grading services in India whose shares are publicly traded on both the Bombay Stock Exchange and the National Stock Exchange of India. We accounted for the investment in CARE as available-for-sale using the fair value method of accounting. The investment in CARE is not material to our consolidated financial statements. Divestitures 2018 During the nine months ended September 30, 2018, we did not complete any dispositions. 2017 In April of 2017, we signed a letter of intent to sell our facility at East Windsor, New Jersey. The fixed assets of the facility of $5 million have been classified as held for sale, which is included in prepaid and other current assets in our consolidated balance sheet as of September 30, 2018. In January of 2017, we completed the sale of Quant House SAS, included in our Market Intelligence segment, to QH Holdco, an independent third party.

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Comprehensive tax legislation, enacted through the Tax Cuts and Jobs Act (“TCJA”) on December 22, 2017, significantly modified U.S. corporate income tax law. Provisional amounts have been recorded in our financial statements based on the Company’s initial analysis of the TCJA. The Company may adjust these amounts in future periods if our interpretation of the TCJA changes or as additional guidance from the U.S. Treasury becomes available. We have elected to recognize the tax on Global Intangible Low Taxed Income (“GILTI”) as a period expense in the year the tax is incurred. The effective income tax rate was 20.4% and 21.9% for the three and nine months ended September 30, 2018, respectively, and 27.3% and 28.5% for the three and nine months ended September 30, 2017, respectively. The decrease in 2018 was primarily due to the reduction of the U.S. federal corporate tax rate as a result of the enactment of the TCJA. 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 September 30, 2018 and December 31, 2017, the total amount of federal, state and local, and foreign unrecognized tax benefits was $152 million and $212 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 September 30, 2018 and December 31, 2017, we had $32 million and $59 million, respectively, of accrued interest and penalties associated with unrecognized tax benefits. The reduction in uncertain tax positions and associated accrued interest relates primarily to settlements with various tax authorities. Based on the current status of income tax audits, we believe that the total amount of unrecognized tax benefits may decrease by approximately $40 million in the next twelve months as a result of the resolution of tax examinations.

Debt

9 Months Ended

Sep. 30, 2018

Debt Disclosure [Abstract]

Debt

A summary of short-term and long-term debt outstanding is as follows:



(in millions)	September 30, 2018		December 31, 2017
2.5% Senior Notes, due 2018 ¹	$	—	$	399
3.3% Senior Notes, due 2020 ²	698		697
4.0% Senior Notes, due 2025 ³	692		692
4.4% Senior Notes, due 2026 ⁴	892		892
2.95% Senior Notes, due 2027 ⁵	493		493
6.55% Senior Notes, due 2037 ⁶	396		396
4.5% Senior Notes, due 2048 ⁷	490		—
Total debt	3,661		3,569
Less: short-term debt including current maturities	—		399
Long-term debt	$	3,661	$	3,170


¹	We made a $400 million early repayment of our 2.5% senior notes in June of 2018.


²	Interest payments are due semiannually on February 14 and August 14, and as of September 30, 2018, the unamortized debt discount and issuance costs total $2 million.


³	Interest payments are due semiannually on June 15 and December 15, and as of September 30, 2018, the unamortized debt discount and issuance costs total $8 million.


⁴	Interest payments are due semiannually on February 15 and August 15, and as of September 30, 2018, the unamortized debt discount and issuance costs total $8 million.


⁵	Interest payments are due semiannually on January 22 and July 22, and as of September 30, 2018, the unamortized debt discount and issuance costs total $7 million.


⁶	Interest payments are due semiannually on May 15 and November 15, and as of September 30, 2018, the unamortized debt discount and issuance costs total $4 million.


⁷	Interest payments are due semiannually on May 15 and November 15, beginning on November 15, 2018, and as of September 30, 2018, the unamortized debt discount and issuance costs total $10 million.

The fair value of our total debt borrowings was $3.8 billion as of September 30, 2018 and December 31, 2017, and was estimated based on quoted market prices.

On May 17, 2018, we issued $500 million of 4.5% notes due in 2048. The notes are fully and unconditionally guaranteed by our wholly-owned subsidiary, Standard & Poor's Financial Services LLC. In June of 2018, we used the net proceeds to fund the redemption price of the $400 million outstanding principal amount of our 2.5% senior notes due in August of 2018, and intend to use the balance for general corporate purposes.

We have the ability to borrow a total of $1.2 billion through our commercial paper program, which is supported by our revolving$1.2 billion five-year credit agreement (our "credit facility") that we entered into on June 30, 2017. This credit facility will terminate on June 30, 2022. As of September 30, 2018 and December 31, 2017, there were no commercial paper borrowings outstanding.

Depending on our corporate credit rating, we pay a commitment fee of 8 to 17.5 basis points for our credit facility, whether or not amounts have been borrowed. We currently pay a commitment fee of 10 basis points. The interest rate on borrowings under our credit facility is, at our option, calculated using rates that are primarily based on either the prevailing London Inter-Bank Offer Rate, the prime rate determined by the administrative agent or the Federal Funds Rate. For certain borrowings under this credit facility, there is also a spread based on our corporate credit rating.

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

Derivative Instruments

9 Months Ended

Sep. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

Our exposure to market risk includes changes in foreign exchange rates. We have operations in foreign countries where the functional currency is primarily the local currency. For international operations that are determined to be extensions of the parent company, the U.S. dollar is the functional currency. We typically have naturally hedged positions in most countries from a local currency perspective with offsetting assets and liabilities. As of September 30, 2018 and December 31, 2017, we have entered into foreign exchange forward contracts to mitigate or hedge the effect of adverse fluctuations in foreign currency exchange rates. Foreign currency forward contracts are recorded at fair value that is based on foreign currency exchange rates in active markets; therefore, we classify these derivative contracts 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 nine months ended September 30, 2018, 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 sheet. These forward contracts do not qualify for hedge accounting. As of September 30, 2018 the aggregate notional value of these outstanding forward contracts was $85 million. The fair value of these forward contracts are recorded in prepaid and other assets or other current liabilities in the consolidated balance sheet with their corresponding change in fair value recognized in selling and general expenses in the consolidated statement of income. The net loss recorded in selling and general expense for the three and nine months ended September 30, 2018 related to these contracts was $3 million and $15 million, respectively.

Cash Flow Hedges

During the nine months ended September 30, 2018 and the three months ended December 31, 2017, 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 third quarter of 2019 and the fourth quarter of 2018, 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 twelve months. The changes in the fair value of these contracts are initially reported in accumulated other comprehensive loss in our consolidated balance sheet and are subsequently reclassified into revenue and selling and general expenses in the same period that the hedged transaction affects earnings.

As of September 30, 2018, we estimate that $4 million of the net losses related to derivatives designated as cash flow hedges recorded in other comprehensive income (loss) is expected to be reclassified into earnings within the next twelve months. There was no material hedge ineffectiveness for the three and nine months ended September 30, 2018 and 2017. As of September 30, 2018 and September 30, 2017, the aggregate notional value of our outstanding foreign currency forward contracts was $199 million and $133 million, respectively.

The following table provides information on the location and fair value amounts of our cash flow hedges as of September 30, 2018 and December 31, 2017:



(in millions) Balance Sheet Location		September 30, 2018			December 31, 2017
Prepaid and other current assets	Foreign exchange forward contracts	$	1		$	3
Other current liabilities	Foreign exchange forward contracts	$	(7	)	$	—

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

Three Months



(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)
Cash flow hedges - designated as hedging instruments	2018			2017			2018			2017
Foreign exchange forward contracts	$	(3	)	$	3	Revenue, Selling and general expenses	$	(2	)	$	2

Nine Months



(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)
Cash flow hedges - designated as hedging instruments	2018			2017			2018			2017
Foreign exchange forward contracts	$	(6	)	$	2	Revenue, Selling and general expenses	$	(3	)	$	6

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



(in millions)	Three Months						Nine Months
	2018			2017			2018			2017
Net unrealized (losses) gains on cash flow hedges, net of taxes, beginning of period	$	(1	)	$	1		$	2		$	2
Change in fair value, net of tax	(5		)	5			(9		)	8
Reclassification into earnings, net of tax	2			(2		)	3			(6		)
Net unrealized (losses) gains on cash flow hedges, net of taxes, end of period	$	(4	)	$	4		$	(4	)	$	4

Employee Benefits

9 Months Ended

Sep. 30, 2018

Retirement Benefits [Abstract]

Employee Benefits

We maintain a number of active defined contribution retirement plans for our employees. The majority of our defined benefit plans are frozen. As a result, no new employees will be permitted to enter these plans and no additional benefits for current participants in the frozen plans will be accrued.

We have supplemental benefit plans 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 generally do not prefund any of these plans.

We recognize the funded status of our defined benefit retirement and postretirement plans in the consolidated balance sheets, with a corresponding adjustment to accumulated other comprehensive loss, net of taxes. The amounts in accumulated other comprehensive loss represent unrecognized actuarial losses and unrecognized prior service costs. These amounts will be subsequently recognized as net periodic benefit 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 periods ended September 30 are as follows:



(in millions)	Three Months						Nine Months
	2018			2017			2018			2017
Service cost	$	1		$	1		$	2		$	2
Interest cost	18			19			54			56
Expected return on assets	(31		)	(32		)	(94		)	(95		)
Amortization of prior service credit / actuarial loss	4			4			13			12
Net periodic benefit cost	$	(8	)	$	(8	)	$	(25	)	$	(25	)

Net periodic benefit cost related to our postretirement plans reflected in the table above was not material for the three and nine months ended September 30, 2018 and 2017, respectively.

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, 2018. The effect of the assumption changes on retirement and postretirement expense for the three and nine months ended September 30, 2018 did not have a material impact to our financial position, results of operations or cash flows.

In the first nine months of 2018, we contributed $7 million to our retirement plans and expect to make additional required contributions of approximately $2 million to our retirement plans during the remainder of the year. We may elect to make additional non-required contributions depending on investment performance and the pension plan status in the fourth quarter of 2018.

Stock-Based Compensation

9 Months Ended

Sep. 30, 2018

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

Stock-Based Compensation

We issue stock-based incentive awards to our eligible employees and Directors under the 2002 Employee Stock Incentive Plan and a Director Deferred Stock Ownership Plan. The 2002 Employee Stock Incentive Plan permits the granting of nonqualified stock options, stock appreciation rights, performance stock, restricted stock and other stock-based awards. In 2018, we also made a one-time issuance of incentive stock options under the 2002 Employee Stock Incentive Plan to replace Kensho employees' stock options that were assumed in connection with our acquisition of Kensho in April of 2018.

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



(in millions)	Three Months				Nine Months
	2018		2017		2018		2017
Stock option expense	$	1	$	1	$	3	$	2
Restricted stock and unit awards expense	26		23		70		63
Total stock-based compensation expense	$	27	$	24	$	73	$	65

During the nine months ended September 30, 2018, the Company granted 0.2 million shares of employee stock options, which had a weighted average grant date value of $128.46 per share based on the lattice-based option-pricing model. The Company also granted 0.7 million shares of restricted stock and unit awards, which had a weighted average grant date fair value of $170.44 per share.

Total unrecognized compensation expense related to unvested stock option awards and unvested restricted stock and unit awards as of September 30, 2018 was $3 million and $99 million, respectively, which is expected to be recognized over a weighted average period of 2.3 years and 2.1 years, respectively.

Equity

9 Months Ended

Sep. 30, 2018

Equity [Abstract]

Equity

Stock Repurchases

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

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

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



(in millions, except average price)	Three Months				Nine Months
	2018		2017		2018		2017
Total number of shares purchased ¹	0.7		2.8		5.7		5.4
Average price paid per share ²	$	205.11	$	—	$	180.94	$	133.01
Total cash utilized ³	$	13	$	500	$	1,113	$	846


¹	The three and nine months ended September 30, 2018 and 2017 include shares received as part of our accelerated share repurchase agreement described in more detail below.


²	Average price paid per share information does not include the accelerated share repurchase agreement as discussed in more detail below.


³	During the third quarter of 2018, we repurchased shares for approximately $6 million, which settled in October 2018. Cash used for financing activities only reflects those shares which settled during the nine months ended September 30, 2018 resulting in $1,108 million of cash used to repurchase shares.

Our purchased shares may be used for general corporate purposes, including the issuance of shares for stock compensation plans and to offset the dilutive effect of the exercise of employee stock options. As of September 30, 2018, approximately 13.3 million shares remained available under the current share repurchase program which has no expiration date and purchases under this program may be made from time to time on the open market and in private transactions, depending on market conditions.

Accelerated Share Repurchase Agreement

We entered into an accelerated share repurchase ("ASR") agreement with a financial institution on March 6, 2018 to initiate share repurchases aggregating $1 billion. The ASR agreement was structured as an uncapped ASR agreement in which we paid $1 billion and received an initial delivery of approximately 4.5 million shares, representing 85% of the $1 billion at a price equal to the then market price of the Company. We completed the ASR agreement on September 25, 2018 and received an additional 0.6 million shares. We repurchased a total of 5.1 million shares under the ASR agreement for an average purchase price of $197.49 per share. The total number of shares repurchased under the ASR agreement is equal to $1 billion divided by the volume weighted-average share price, less a discount. The repurchased shares are held in Treasury. The ASR agreement was executed under the current share repurchase program, approved by the Board of Directors on December 4, 2013.

Redeemable Noncontrolling Interests

The agreement with the minority partners that own 27% of our S&P Dow Jones Indices LLC joint venture contains redemption features whereby interests held by minority partners are redeemable either (i) at the option of the holder or (ii) upon the occurrence of an event that is not solely within our control. Specifically, under the terms of the operating agreement of S&P Dow Jones Indices LLC, after December 31, 2017, CME Group and CME Group Index Services LLC ("CGIS") 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, considering a combination of an income and market valuation approach. Our income and market valuation approaches incorporate Level 3 fair value measures for instances when observable inputs are not available, including assumptions related to expected future net cash flows, long-term growth rates, the timing and nature of tax attributes, and the redemption features. Any adjustments to the redemption value will impact retained income.

Noncontrolling interests that do not contain such redemption features are presented in equity.

Changes to redeemable noncontrolling interest during the nine months ended September 30, 2018 were as follows:



(in millions)
Balance as of December 31, 2017	$	1,350
Net income attributable to noncontrolling interest	112
Distributions payable to noncontrolling interest	(93		)
Redemption value adjustment	116
Balance as of September 30, 2018	$	1,485

Accumulated Other Comprehensive Loss

The following table summarizes the changes in the components of accumulated other comprehensive loss for the nine months ended September 30, 2018:



(in millions)	Foreign Currency Translation Adjustment			Pension and Postretirement Benefit Plans				Unrealized Gain (Loss) on Forward Exchange Contracts				Unrealized Gain (Loss) on Investments				Accumulated Other Comprehensive Loss
Balance as of December 31, 2017	$	(239	)	$	(402	)		$	2			$	(10	)		$	(649	)
Other comprehensive income before reclassifications	(54		)	(14		)		(9		)		—				(77		)
Reclassifications from accumulated other comprehensive loss to net earnings	—			10			¹	3			²	—				13
Net other comprehensive income	(54		)	(4		)		(6		)		—				(64		)
Amounts reclassified to retained income	—			—				—				10			³	10
Balance as of September 30, 2018	$	(293	)	$	(406	)		$	(4	)		$	—			$	(703	)


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


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


³	On January 1, 2018, the unrealized loss on investments was reclassified to retained income. See Note 13 — Recently Issued or Adopted Accounting Standards for additional details.

The net actuarial loss and prior service credit related to pension and other postretirement benefit plans included in other comprehensive income is net of a tax provision of $2 million for the nine months ended September 30, 2018.

Earnings Per Share

9 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Earnings Per Share

Basic earnings per common share (“EPS”) is computed by dividing net income attributable to the common shareholders of the Company by the weighted-average number of common shares outstanding. Diluted EPS is computed in the same manner as basic EPS, except the number of shares is increased to include additional common shares that would have been outstanding if potential common shares with a dilutive effect had been issued. Potential common shares consist primarily of stock options and restricted performance shares calculated using the treasury stock method.

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



(in millions, except per share amounts)	Three Months				Nine Months
	2018		2017		2018		2017
Amounts attributable to S&P Global Inc. common shareholders:
Net income	$	495	$	414	$	1,447	$	1,234

Basic weighted-average number of common shares outstanding	251.3		255.5		251.6		257.0
Effect of stock options and other dilutive securities	2.2		2.4		2.1		2.5
Diluted weighted-average number of common shares outstanding	253.5		257.9		253.7		259.5

Earnings per share attributable to S&P Global Inc. common shareholders:
Net income:
Basic	$	1.97	$	1.62	$	5.75	$	4.80
Diluted	$	1.95	$	1.61	$	5.70	$	4.75

We have certain stock options and restricted performance shares that are potentially excluded from the computation of diluted EPS. The effect of the potential exercise of stock options is excluded when the average market price of our common stock is lower than the exercise price of the related option during the period or when a net loss exists because the effect would have been antidilutive. Additionally, restricted performance shares are excluded because the necessary vesting conditions had not been met or when a net loss exists. For the three and nine months ended September 30, 2018 and 2017, there were no stock options excluded. Restricted performance shares outstanding of 0.8 million and 0.9 million as of September 30, 2018 and 2017, respectively, were excluded.

Restructuring

9 Months Ended

Sep. 30, 2018

Restructuring and Related Activities [Abstract]

Restructuring

During 2018 and 2017, we continued to evaluate our cost structure and further identified cost savings associated with streamlining our management structure and our decision to exit non-strategic businesses. Our 2018 and 2017 restructuring plans consisted of a company-wide workforce reduction of approximately 70 and 520 positions, respectively, and are 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 of efficiencies in carrying out the plans or because employees previously identified for separation resigned from the Company and did not receive severance or were reassigned due to circumstances not foreseen when the original plans were initiated. In these cases, we reverse reserves through the consolidated statements of income during the period when it is determined they are no longer needed.

The initial restructuring charge recorded and the ending reserve balance as of September 30, 2018 by segment is as follows:



	2018 Restructuring Plans				2017 Restructuring Plans
(in millions)	Initial Charge Recorded		Ending Reserve Balance		Initial Charge Recorded		Ending Reserve Balance
Ratings	$	—	$	—	$	25	$	10
Market Intelligence	2		2		8		2
Platts	—		—		1		—
Indices	—		—		—		—
Corporate	7		7		10		3
Total	$	9	$	9	$	44	$	15

We recorded a pre-tax restructuring charge of $9 million primarily related to employee severance charges for the 2018 restructuring plan during the nine months ended September 30, 2018. The ending reserve balance for the 2017 restructuring plan was $39 million as of December 31, 2017. For the nine months ended September 30, 2018, we have reduced the reserve for the 2017 restructuring plan by $24 million. The reductions primarily related to cash payments for employee severance charges.

Segment and Related Information

9 Months Ended

Sep. 30, 2018

Segment Reporting [Abstract]

Segment and Related Information

We have four reportable segments: Ratings, Market Intelligence, Platts and Indices. Our Chief Executive Officer is our chief operating decision-maker and evaluates performance of our segments and allocates resources based primarily on operating profit. Segment operating profit does not include Corporate Unallocated, other income, net, or interest expense, net, as these are amounts that do not affect the operating results of our reportable segments.

In April of 2018, we acquired Kensho for approximately $550 million, net of cash acquired, in a mix of cash and stock. The results of Kensho, an operating segment of the Company, are included in Corporate revenue and Corporate Unallocated for financial reporting purposes. See Note 2 — Acquisitions and Divestitures for additional information.

Effective beginning with the first quarter of 2018, we began reporting the financial results of Market Intelligence and Platts as separate reportable segments consistent with the changes to our organizational structure and how our Chief Executive Officer evaluates the performance of these segments. Our historical segment reporting has been retroactively revised to reflect the current organizational structure.

A summary of operating results for the periods ended September 30 is as follows:



Revenue	Three Months						Nine Months
(in millions)	2018			2017			2018			2017
Ratings	$	700		$	739		$	2,223		$	2,199
Market Intelligence	464			422			1,349			1,238
Platts	204			193			604			577
Indices	205			187			627			542
Corporate	5			—			10			—
Intersegment elimination ¹	(32		)	(28		)	(92		)	(81		)
Total revenue	$	1,546		$	1,513		$	4,721		$	4,475



Operating Profit	Three Months						Nine Months
(in millions)	2018			2017			2018			2017
Ratings ²	$	395		$	375		$	1,173		$	1,144
Market Intelligence ³	148			123			388			339
Platts ⁴	98			84			285			245
Indices ⁵	134			119			416			352
Total reportable segments	775			701			2,262			2,080
Corporate Unallocated ⁶	(71		)	(52		)	(176		)	(124		)
Total operating profit	$	704		$	649		$	2,086		$	1,956


¹	Revenue 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 includes legal settlement expenses of $73 million for the nine months ended September 30, 2018. Operating profit includes employee severance charges of $15 million for the three and nine months ended September 30, 2017 and legal settlement expenses of $2 million for the nine months ended September 30, 2017. Operating profit also includes amortization of intangibles from acquisitions of $1 million for the three months ended September 30, 2018 and 2017 and $2 million and $3 million for the nine months ended September 30, 2018 and 2017, respectively.

³

Operating profit includes restructuring charges related to a business disposition and employee severance charges of $2 million for the three and nine months ended September 30, 2018. Operating profit includes a non-cash disposition-related adjustment of $4 million and employee severance charges of $4 million for the nine months ended September 30, 2017. Operating profit includes amortization of intangibles from acquisitions of $18 million and $17 million for the three months ended September 30, 2018 and 2017, respectively, and $54 million and $52 million for the nine months ended September 30, 2018 and 2017, respectively.

⁴

Operating profit includes amortization of intangibles from acquisitions of $4 million and $5 million for the three months ended September 30, 2018 and 2017, respectively, and $13 million for the nine months ended September 30, 2018 and 2017. Operating profit includes a non-cash acquisition-related adjustment of $11 million, a charge to exit a leased facility of $6 million, an asset write-off of $2 million, and employee severance charges of $1 million for the nine months ended September 30, 2017.


⁵	Operating profit includes amortization of intangibles from acquisitions of $2 million and $1 million for the three months ended September 30, 2018 and 2017, respectively, and $5 million and $4 million for the nine months ended September 30, 2018 and 2017, respectively.

⁶

Operating loss for the three and nine months months ended September 30, 2018 includes Kensho retention related expense of $11 million and $23 million, respectively, lease impairments of $11 million and employee severance charges of $7 million. Operating loss also includes amortization of intangibles from acquisitions of $8 million and $17 million for the three and nine months ended September 30, 2018, respectively. Operating loss for the three and nine months ended September 30, 2017 includes employee severance charges of $4 million.

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



(in millions)	Three Months				Nine Months
	2018		2017		2018		2017
U.S.	$	932	$	914	$	2,843	$	2,726
European region	380		361		1,164		1,068
Asia	160		157		475		432
Rest of the world	74		81		239		249
Total	$	1,546	$	1,513	$	4,721	$	4,475

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

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Related Party Agreements In March of 2018, the Company made a $20 million contribution to the S&P Global Foundation. 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, which replaced the 2005 license agreement between Indices and CME Group. Under the terms of the License Agreement, S&P Dow Jones Indices LLC receives a share of the profits from the trading and clearing of CME Group's equity index products. During the three and nine months ended September 30, 2018, S&P Dow Jones Indices LLC earned $28 million and $82 million, respectively, of revenue under the terms of the License Agreement. During the three and nine months ended September 30, 2017, S&P Dow Jones Indices LLC earned $18 million and $56 million, respectively, of revenue under the terms of the License Agreement. The entire amount of this revenue is included in our consolidated statement of income and the portion related to the 27% noncontrolling interest is removed in net income attributable to noncontrolling interests. Legal 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 the subject of government and regulatory proceedings, investigations and inquiries. Many of these proceedings, investigations and inquiries relate to the ratings activity of S&P Global Ratings brought by issuers and alleged purchasers of rated securities. In addition, various government and self-regulatory agencies frequently make inquiries and conduct investigations into our compliance with applicable laws and regulations, including those related to ratings activities and antitrust matters. For example, as a nationally recognized statistical rating organization registered with the SEC under Section 15E of the Securities Exchange Act of 1934, S&P Global Ratings is in ongoing communication with the staff of the SEC regarding compliance with its extensive obligations under the federal securities laws. Although S&P Global Ratings seeks to promptly address any compliance issues that it detects or that the staff of the SEC raises, there can be no assurance that the SEC will not seek remedies against S&P Global Ratings for one or more compliance deficiencies. 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. S&P Global Ratings In the second quarter the Company entered into an agreement to settle certain civil cases in Australia against the Company and certain of its subsidiaries relating to alleged investment losses in collateralized debt obligations rated by S&P Global Ratings. The settlement was approved by the court in August 2018.

Recently Issued or Adopted Accounting Standards	9 Months Ended
Recently Issued or Adopted Accounting Standards	Sep. 30, 2018
Accounting Changes and Error Corrections [Abstract]
Recently Issued or Adopted Accounting Standards	Recently Issued or Adopted Accounting Standards In August of 2018, FASB issued guidance to align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The guidance is effective for reporting periods beginning after December 15, 2019; however early adoption is permitted. We are currently evaluating the impact of this guidance on our consolidated financial statements. In February of 2018, FASB issued guidance which allows companies to reclassify certain stranded income tax effects resulting from the enactment of the TCJA from accumulated other comprehensive income to retained earnings. The guidance is effective for reporting periods after December 15, 2018; however, early adoption is permitted. We are currently evaluating the impact of the adoption of this guidance on our consolidated financial statements. In August of 2017, FASB issued guidance to enhance the hedge accounting model for both nonfinancial and financial risk components, which includes amendments to address certain aspects of recognition and presentation disclosure. The guidance is effective for reporting periods beginning after December 15, 2018. We do not expect this guidance to have a significant impact on our consolidated financial instruments. In May of 2017, FASB issued guidance that provides clarification on when modification accounting should be used for changes to the terms or conditions of a share-based payment award. This guidance does not change the accounting for modifications but clarifies when modification accounting guidance should be applied. Under the new guidance, an entity should apply modification accounting in response to a change in the terms and conditions of an entity's share-based payment awards unless three newly specified criteria are met. The guidance was effective on January 1, 2018, and the adoption of this guidance did not have a significant impact on our consolidated financial statements. In March of 2017, FASB issued guidance to enhance the presentation of net periodic pension cost and net periodic postretirement benefit cost. The guidance requires employers to report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period, and requires the other components of net periodic pension cost and net periodic postretirement benefit cost to be presented in the income statement separately from the service cost component outside a subtotal of income from operations. Additionally, only the service cost component is eligible for capitalization. We adopted the guidance on January 1, 2018. The change in capitalization requirement did not have a material impact on our consolidated financial statements. As a result of the adoption of the guidance, 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. See Note 6 — Employee Benefits for additional information related to our retirement and postretirement plans. In January of 2017, the FASB issued guidance that simplifies the subsequent measurement of goodwill and eliminates Step 2 from the goodwill impairment test. Under the new guidance, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The guidance is effective for reporting periods beginning after December 15, 2019; however, early adoption is permitted. We do not expect this guidance to have a significant impact on our consolidated financial statements. In January of 2017, the FASB issued guidance that clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The guidance was effective on January 1, 2018, and the adoption of this guidance did not have a significant impact on our consolidated financial statements. In November of 2016, the FASB issued guidance requiring that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. We adopted this guidance on January 1, 2018. The adoption of this guidance did not have a significant impact on our consolidated financial statements. In August of 2016, the FASB issued guidance providing amendments to eight specific statement of cash flows classification issues. The guidance was effective on January 1, 2018, and the adoption of this guidance did not have a significant impact on our consolidated financial statements. In February of 2016, the FASB issued guidance that amends the accounting for leases. Under the new guidance, a lessee will now recognize a "right of use" asset with an offsetting lease liability, with expenses recognized similar to current lease accounting. The guidance is effective for reporting periods beginning after December 15, 2018 with early adoption permitted. In July of 2018, the FASB issued a subsequent update providing entities an additional transition method to adopt the new lease standard, allowing entities to adopt the standard prospectively without restating prior period’s financial statements. We expect to elect this transition method upon adoption on January 1, 2019. We have also elected to apply the “package” of practical expedients permitting entities to forgo reassessment of (1) the lease classification of expired or existing leases, (2) whether any expired or existing contracts contain leases, and (3) the accounting for initial direct costs of existing leases. As part of our implementation plan, we are in the process of executing a number of workflows including a qualitative and quantitative accounting analysis of our significant lease agreements in the construct of the new standard, and have refined our processes, procedures, and controls to capture the complete population of our leases. In addition we selected and are in the process of implementing a third party software solution that will systematically capture, process, and record both the initial and ongoing financial statement impact of the new standard. Our preliminary quantitative analysis of the financial statement impact indicates the adoption of the new standard will have a material impact on our consolidated balance sheet; however, we do not expect that the standard will have a material impact on our consolidated statements of income or cash flows. In January of 2016, the FASB issued guidance to enhance the reporting model for financial instruments, which includes amendments to address certain aspects of recognition, measurement, presentation and disclosure. We adopted this guidance on January 1, 2018. We recorded a reduction to opening retained earnings and an increase to accumulated other comprehensive income of $10 million as of January 1, 2018 due to the adoption of this guidance. The adoption of this guidance did not have a significant impact on our consolidated financial statements. In May of 2014, the FASB and the International Accounting Standards Board (“IASB”) issued jointly a converged standard on the recognition of revenue from contracts with customers, which is intended to improve the financial reporting of revenue and comparability of the top line in financial statements globally. The core principle of the new standard is for the recognition of revenue to depict the transfer of goods or services to customers in amounts that reflect the payment to which the company expects to be entitled in exchange for those goods or services. The new standard also results in enhanced revenue disclosures, provides guidance for transactions that were not previously addressed comprehensively and improves guidance for multiple-element arrangements. We adopted the new revenue standard effective January 1, 2018 using the modified retrospective transition method. See Note 1— Nature of Operations and Basis of Presentation for further details.

Condensed Consolidating Financial Statements

9 Months Ended

Sep. 30, 2018

Condensed Financial Information Disclosure [Abstract]

Condensed Consolidating Financial Statements

On May 17, 2018, we issued $500 million of 4.5% notes due in 2048. On September 22, 2016, we issued $500 million of 2.95% senior notes due in 2027. On May 26, 2015, we issued $700 million of 4.0% senior notes due in 2025. On August 18, 2015, we issued $2.0 billion of senior notes, consisting of $400 million of 2.5% senior notes due in 2018, $700 million of 3.3% senior notes due in 2020 and $900 million of 4.4% senior notes due in 2026. See Note 4 — Debt for additional information.

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



	Statement of Income
	Three Months Ended September 30, 2018
	(Unaudited)
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
Revenue	$	196		$	422		$	967		$	(39	)	$	1,546
Expenses:
Operating-related expenses	26			110			309			(39		)	406
Selling and general expenses	42			79			262			—			383
Depreciation	9			2			9			—			20
Amortization of intangibles	—			—			33			—			33
Total expenses	77			191			613			(39		)	842
Operating profit	119			231			354			—			704
Other income, net	(5		)	—			(1		)	—			(6		)
Interest expense (income), net	39			1			(2		)	—			38
Non-operating intercompany transactions	90			(11		)	(83		)	4			—
Income before taxes on income	(5		)	241			440			(4		)	672
(Benefit) provision for taxes on income	(65		)	94			108			—			137
Equity in net income of subsidiaries	440			—			—			(440		)	—
Net income	$	500		$	147		$	332		$	(444	)	$	535
Less: net income attributable to noncontrolling interests	—			—			—			(40		)	(40		)
Net income attributable to S&P Global Inc.	$	500		$	147		$	332		$	(484	)	$	495
Comprehensive income	$	490		$	147		$	341		$	(441	)	$	537



	Statement of Income
	Nine Months Ended September 30, 2018
	(Unaudited)
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
Revenue	$	587		$	1,318		$	2,929		$	(113	)	$	4,721
Expenses:
Operating-related expenses	108			333			962			(113		)	1,290
Selling and general expenses	149			222			823			—			1,194
Depreciation	24			6			30			—			60
Amortization of intangibles	—			—			91			—			91
Total expenses	281			561			1,906			(113		)	2,635
Operating profit	306			757			1,023			—			2,086
Other income, net	(21		)	—			(1		)	—			(22		)
Interest expense (income), net	105			2			(9		)	—			98
Non-operating intercompany transactions	277			(54		)	(1,538		)	1,315			—
Income before taxes on income	(55		)	809			2,571			(1,315		)	2,010
(Benefit) provision for taxes on income	(52		)	240			252			—			440
Equity in net income of subsidiaries	2,804			—			—			(2,804		)	—
Net income	$	2,801		$	569		$	2,319		$	(4,119	)	$	1,570
Less: net income attributable to noncontrolling interests	—			—			—			(123		)	(123		)
Net income attributable to S&P Global Inc.	$	2,801		$	569		$	2,319		$	(4,242	)	$	1,447
Comprehensive income	$	2,781		$	569		$	2,274		$	(4,118	)	$	1,506



	Statement of Income
	Three Months Ended September 30, 2017
	(Unaudited)
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
Revenue	$	184		$	435		$	929		$	(35	)	$	1,513
Expenses:
Operating-related expenses	6			124			324			(35		)	419
Selling and general expenses	70			101			228			—			399
Depreciation	9			3			10			—			22
Amortization of intangibles	—			—			24			—			24
Total expenses	85			228			586			(35		)	864
Operating profit	99			207			343			—			649
Other income, net	(6		)	—			(3		)	—			(9		)
Interest expense (income), net	41			—			(4		)	—			37
Non-operating intercompany transactions	91			(13		)	(91		)	13			—
Income before taxes on income	(27		)	220			441			(13		)	621
(Benefit) provision for taxes on income	(45		)	107			107			—			169
Equity in net income of subsidiaries	409			—			—			(409		)	—
Net income	$	427		$	113		$	334		$	(422	)	$	452
Less: net income attributable to noncontrolling interests	—			—			—			(38		)	(38		)
Net income attributable to S&P Global Inc.	$	427		$	113		$	334		$	(460	)	$	414
Comprehensive income	$	405		$	113		$	382		$	(427	)	$	473



	Statement of Income
	Nine Months Ended September 30, 2017
	(Unaudited)
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
Revenue	$	545		$	1,320		$	2,712		$	(102	)	$	4,475
Expenses:
Operating-related expenses	58			359			947			(102		)	1,262
Selling and general expenses	146			273			704			—			1,123
Depreciation	23			9			29			—			61
Amortization of intangibles	—			—			73			—			73
Total expenses	227			641			1,753			(102		)	2,519
Operating profit	318			679			959			—			1,956
Other income, net	(18		)	—			(8		)	—			(26		)
Interest expense (income), net	119			—			(9		)	—			110
Non-operating intercompany transactions	270			(55		)	(1,717		)	1,502			—
Income before taxes on income	(53		)	734			2,693			(1,502		)	1,872
(Benefit) provision for taxes on income	(91		)	325			299			—			533
Equity in net income of subsidiaries	2,697			—			—			(2,697		)	—
Net income	$	2,735		$	409		$	2,394		$	(4,199	)	$	1,339
Less: net income attributable to noncontrolling interests	—			—			—			(105		)	(105		)
Net income attributable to S&P Global Inc.	$	2,735		$	409		$	2,394		$	(4,304	)	$	1,234
Comprehensive income	$	2,724		$	409		$	2,500		$	(4,199	)	$	1,434



	Balance Sheet
	September 30, 2018
	(Unaudited)
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	891		$	—		$	1,267		$	—		$	2,158
Restricted cash	—			—			45			—			45
Accounts receivable, net of allowance for doubtful accounts	128			166			943			—			1,237
Intercompany receivable	567			1,929			2,819			(5,315		)	—
Prepaid and other current assets	86			(3		)	105			—			188
Total current assets	1,672			2,092			5,179			(5,315		)	3,628
Property and equipment, net of accumulated depreciation	192			—			83			—			275
Goodwill	261			—			3,274			9			3,544
Other intangible assets, net	—			—			1,420			—			1,420
Investments in subsidiaries	7,971			6			7,997			(15,974		)	—
Intercompany loans receivable	124			—			1,771			(1,895		)	—
Other non-current assets	226			44			246			—			516
Total assets	$	10,446		$	2,142		$	19,970		$	(23,175	)	$	9,383
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	81		$	18		$	95		$	—		$	194
Intercompany payable	4,168			55			1,092			(5,315		)	—
Accrued compensation and contributions to retirement plans	112			35			160			—			307
Income taxes currently payable	9			—			83			—			92
Unearned revenue	272			242			1,062			—			1,576
Other current liabilities	192			12			144			—			348
Total current liabilities	4,834			362			2,636			(5,315		)	2,517
Long-term debt	3,661			—			—			—			3,661
Intercompany loans payable	109			—			1,786			(1,895		)	—
Pension and other postretirement benefits	176			—			49			—			225
Other non-current liabilities	210			60			267			—			537
Total liabilities	8,990			422			4,738			(7,210		)	6,940
Redeemable noncontrolling interest	—			—			—			1,485			1,485
Equity:
Common stock	412			—			2,275			(2,275		)	412
Additional paid-in capital	155			614			10,223			(10,095		)	897
Retained income	11,882			1,106			3,209			(5,194		)	11,003
Accumulated other comprehensive loss	(290		)	—			(461		)	48			(703		)
Less: common stock in treasury	(10,703		)	—			(15		)	14			(10,704		)
Total equity - controlling interests	1,456			1,720			15,231			(17,502		)	905
Total equity - noncontrolling interests	—			—			1			52			53
Total equity	1,456			1,720			15,232			(17,450		)	958
Total liabilities and equity	$	10,446		$	2,142		$	19,970		$	(23,175	)	$	9,383



	Balance Sheet
	December 31, 2017
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	632		$	—		$	2,145		$	—		$	2,777
Restricted cash	—			—			2			—			2
Accounts receivable, net of allowance for doubtful accounts	138			152			1,029			—			1,319
Intercompany receivable	768			1,784			2,527			(5,079		)	—
Prepaid and other current assets	143			(3		)	86			—			226
Total current assets	1,681			1,933			5,789			(5,079		)	4,324
Property and equipment, net of accumulated depreciation	158			10			107			—			275
Goodwill	261			—			2,719			9			2,989
Other intangible assets, net	—			—			1,388			—			1,388
Investments in subsidiaries	8,364			5			8,028			(16,397		)	—
Intercompany loans receivable	116			—			1,699			(1,815		)	—
Other non-current assets	215			61			174			(1		)	449
Total assets	$	10,795		$	2,009		$	19,904		$	(23,283	)	$	9,425
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	79		$	23		$	93		$	—		$	195
Intercompany payable	3,433			492			1,154			(5,079		)	—
Accrued compensation and contributions to retirement plans	145			86			241			—			472
Short-term debt	399			—			—			—			399
Income taxes currently payable	2			—			75			—			77
Unearned revenue	293			193			1,127			—			1,613
Accrued legal settlements	—			2			105			—			107
Other current liabilities	136			21			194			—			351
Total current liabilities	4,487			817			2,989			(5,079		)	3,214
Long-term debt	3,170			—			—			—			3,170
Intercompany loans payable	101			—			1,715			(1,816		)	—
Pension and other postretirement benefits	180			—			64			—			244
Other non-current liabilities	376			74			229			—			679
Total liabilities	8,314			891			4,997			(6,895		)	7,307
Redeemable noncontrolling interest	—			—			—			1,350			1,350
Equity:
Common stock	412			—			2,318			(2,318		)	412
Additional paid-in capital	(216		)	602			9,256			(9,117		)	525
Retained income	12,156			516			3,782			(6,429		)	10,025
Accumulated other comprehensive loss	(269		)	—			(426		)	46			(649		)
Less: common stock in treasury	(9,602		)	—			(23		)	23			(9,602		)
Total equity - controlling interests	2,481			1,118			14,907			(17,795		)	711
Total equity - noncontrolling interests	—			—			—			57			57
Total equity	2,481			1,118			14,907			(17,738		)	768
Total liabilities and equity	$	10,795		$	2,009		$	19,904		$	(23,283	)	$	9,425



	Statement of Cash Flows
	Nine Months Ended September 30, 2018
	(Unaudited)
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
Operating Activities:
Net income	$	2,801		$	569		$	2,319		$	(4,119	)	$	1,570
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	24			6			30			—			60
Amortization of intangibles	—			—			91			—			91
Provision for losses on accounts receivable	1			1			14			—			16
Stock-based compensation	21			12			40			—			73
Other	33			—			8						41
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable	10			(15		)	67						62
Prepaid and other current assets	(11		)	1			11			—			1
Accounts payable and accrued expenses	(31		)	(58		)	(78		)				(167		)
Unearned revenue	(20		)	23			(75		)				(72		)
Accrued legal settlements	—			—			(180		)	—			(180		)
Other current liabilities	(15		)	(8		)	5						(18		)
Net change in prepaid/accrued income taxes	51			2			9			—			62
Net change in other assets and liabilities	(123		)	23			(38		)				(138		)
Cash provided by operating activities	2,741			556			2,223			(4,119		)	1,401
Investing Activities:
Capital expenditures	(63		)	(14		)	(11		)	—			(88		)
Acquisitions, net of cash acquired	—			—			(263		)	—			(263		)
Changes in short-term investments	—			—			5			—			5
Cash used for investing activities	(63		)	(14		)	(269		)	—			(346		)
Financing Activities:
Proceeds from issuance of senior notes, net	489			—			—			—			489
Payments on senior notes	(403		)	—			—			—			(403		)
Dividends paid to shareholders	(379		)	—			—			—			(379		)
Distributions to noncontrolling interest holders	—			—			(116		)	—			(116		)
Purchase of CRISIL shares	—			—			(25		)	—			(25		)
Repurchase of treasury shares	(1,108		)	—			—			—			(1,108		)
Exercise of stock options	18			—			6			—			24
Employee withholding tax on share-based payments	(61		)	—			—			—			(61		)
Intercompany financing activities	(961		)	(542		)	(2,616		)	4,119			—
Cash used for financing activities	(2,405		)	(542		)	(2,751		)	4,119			(1,579		)
Effect of exchange rate changes on cash from continuing operations	(14		)	—			(38		)	—			(52		)
Net change in cash, cash equivalents, and restricted cash	259			—			(835		)	—			(576		)
Cash, cash equivalents, and restricted cash at beginning of period	632			—			2,147			—			2,779
Cash, cash equivalents, and restricted cash at end of period	$	891		$	—		$	1,312		$	—		$	2,203



	Statement of Cash Flows
	Nine Months Ended September 30, 2017
	(Unaudited)
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
Operating Activities:
Net income	$	2,735		$	409		$	2,394		$	(4,199	)	$	1,339
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	24			9			28			—			61
Amortization of intangibles	—			—			73			—			73
Provision for losses on accounts receivable	1			2			14			—			17
Stock-based compensation	23			15			27			—			65
Other	27			15			—			—			42
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable	(2		)	(73		)	11			—			(64		)
Prepaid and other current assets	(8		)	2			9			—			3
Accounts payable and accrued expenses	(19		)	56			(87		)	—			(50		)
Unearned revenue	14			17			(138		)	—			(107		)
Accrued legal settlements	—			(1		)	(3		)	—			(4		)
Other current liabilities	(42		)	(11		)	(41		)	—			(94		)
Net change in prepaid/accrued income taxes	(27		)	(18		)	3			—			(42		)
Net change in other assets and liabilities	(42		)	(5		)	11			—			(36		)
Cash provided by operating activities	2,684			417			2,301			(4,199		)	1,203
Investing Activities:
Capital expenditures	(34		)	(17		)	(26		)	—			(77		)
Acquisitions, net of cash acquired	—			—			(80		)	—			(80		)
Proceeds from dispositions	—			—			2			—			2
Cash used for investing activities	(34		)	(17		)	(104		)	—			(155		)
Financing Activities:
Dividends paid to shareholders	(316		)	—			—			—			(316		)
Distributions to noncontrolling interest holders	—			—			(69		)	—			(69		)
Repurchase of treasury shares	(846		)	—			—			—			(846		)
Exercise of stock options	63			—			6			—			69
Employee withholding tax on share-based payments	(49		)	—			—			—			(49		)
Intercompany financing activities	(1,960		)	(400		)	(1,839		)	4,199			—
Cash used for financing activities	(3,108		)	(400		)	(1,902		)	4,199			(1,211		)
Effect of exchange rate changes on cash from continuing operations	(10		)	—			93			—			83
Net change in cash, cash equivalents, and restricted cash	(468		)	—			388			—			(80		)
Cash, cash equivalents, and restricted cash at beginning of period	711			—			1,681			—			2,392
Cash, cash equivalents, and restricted cash at end of period	$	243		$	—		$	2,069		$	—		$	2,312

Nature of Operations and Basis of Presentation (Policies)

9 Months Ended

Sep. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

The accompanying unaudited financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and 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, 2017 (our “Form 10-K”). Certain prior-year amounts have been reclassified to conform with current presentation.

In the opinion of management, all normal recurring adjustments considered necessary for a fair statement of the results of the interim periods have been included. The operating results for the three and nine months ended September 30, 2018 are not necessarily indicative of the results that may be expected for the full year.

Use of Estimates

On an ongoing basis, we evaluate our estimates and assumptions, including those related to revenue recognition, allowance for doubtful accounts, valuation of long-lived assets, goodwill and other intangible assets, pension plans, incentive compensation and stock-based compensation, income taxes, contingencies and redeemable noncontrolling interests.

Adoption of ASC 606, Revenue from Contracts with Customers

Adoption of ASC 606, “Revenue from Contracts with Customers”

On January 1, 2018, we adopted ASC 606 "Revenue from Contracts with Customers" using the modified retrospective transition method applied to our revenue contracts with customers as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under ASC 606, while prior year amounts are not adjusted and continue to be reported in accordance with our historic accounting under ASC 605. We recorded a net increase to opening retained earnings of $35 million as of January 1, 2018 due to the cumulative effect of adopting ASC 606, with the impact primarily related to our treatment of costs to obtain a contract and to a lesser extent, changes to the timing of the recognition of our subscription and non-transaction revenues. We recognized incremental revenue of $5 million for nine months ended September 30, 2018 as a result of the adoption of this standard.

Under ASC 606, revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration the entity expects to receive in exchange for those goods or services.

The following table presents our revenue disaggregated by revenue type:



(in millions)	Ratings		Market Intelligence		Platts		Indices		Corporate		Intersegment Elimination ¹			Total

	Three Months Ended September 30, 2018
Subscription	$	—	$	451	$	188	$	41	$	5	$	—		$	685
Non-transaction	372		—		—		—		—		(32		)	340
Non-subscription / Transaction	328		8		2		—		—		—			338
Asset-linked fees	—		5		—		131		—		—			136
Sales usage-based royalties	—		—		14		33		—		—			47
Total revenue	$	700	$	464	$	204	$	205	$	5	$	(32	)	$	1,546

Timing of revenue recognition
Services transferred at a point in time	$	328	$	8	$	2	$	—	$	—	$	—		$	338
Services transferred over time	372		456		202		205		5		(32		)	1,208
Total revenue	$	700	$	464	$	204	$	205	$	5	$	(32	)	$	1,546

	Nine Months Ended September 30, 2018
Subscription	$	—	$	1,306	$	556	$	109	$	10	$	—		$	1,981
Non-transaction	1,129		—		—		—		—		(92		)	1,037
Non-subscription / Transaction	1,094		28		8		—		—		—			1,130
Asset-linked fees	—		15		—		396		—		—			411
Sales usage-based royalties	—		—		40		122		—		—			162
Total revenue	$	2,223	$	1,349	$	604	$	627	$	10	$	(92	)	$	4,721

Timing of revenue recognition
Services transferred at a point in time	$	1,094	$	28	$	8	$	—	$	—	$	—		$	1,130
Services transferred over time	1,129		1,321		596		627		10		(92		)	3,591
Total revenue	$	2,223	$	1,349	$	604	$	627	$	10	$	(92	)	$	4,721



(in millions)	Ratings		Market Intelligence		Platts		Indices		Corporate		Intersegment Elimination ¹			Total

	Three Months Ended September 30, 2017 ²
Subscription	$	—	$	406	$	177	$	36	$	—	$	—		$	619
Non-transaction	367		—		—		—		—		(28		)	339
Non-subscription / Transaction	372		10		2		—		—		—			384
Asset-linked fees	—		6		—		118		—		—			124
Sales usage-based royalties	—		—		14		33		—		—			47
Total revenue	$	739	$	422	$	193	$	187	$	—	$	(28	)	$	1,513

Timing of revenue recognition
Services transferred at a point in time	$	372	$	10	$	2	$	—	$	—	$	—		$	384
Services transferred over time	367		412		191		187		—		(28		)	1,129
Total revenue	$	739	$	422	$	193	$	187	$	—	$	(28	)	$	1,513

	Nine Months Ended September 30, 2017 ²
Subscription	$	—	$	1,189	$	523	$	104	$	—	$	—		$	1,816
Non-transaction	1,061		—		—		—		—		(81		)	980
Non-subscription / Transaction	1,138		32		9		—		—		—			1,179
Asset-linked fees	—		17		—		340		—		—			357
Sales usage-based royalties	—		—		45		98		—		—			143
Total revenue	$	2,199	$	1,238	$	577	$	542	$	—	$	(81	)	$	4,475

Timing of revenue recognition
Services transferred at a point in time	$	1,138	$	32	$	9	$	—	$	—	$	—		$	1,179
Services transferred over time	1,061		1,206		568		542		—		(81		)	3,296
Total revenue	$	2,199	$	1,238	$	577	$	542	$	—	$	(81	)	$	4,475


¹	Intersegment eliminations mainly consists of a royalty charged to Market Intelligence for the rights to use and distribute content and data developed by Ratings.


²	As noted above, amounts for the three and nine months ended September 30, 2017 were not adjusted under the modified retrospective transition method applied to our revenue contracts with customers as of January 1, 2018.

Subscription revenue

Subscription revenue at Market Intelligence is primarily derived from distribution of data, analytics, third party research, and credit ratings-related information primarily through web-based channels including Market Intelligence Desktop, RatingsDirect®, RatingsXpress®, and Credit Analytics. Subscription revenue at Platts is generated by providing customers access to commodity and energy-related price assessments, market data, and real-time news, along with other information services. Subscription revenue at Indices is derived from the contracts for underlying data of our indexes to support our customers' management of index funds, portfolio analytics, and research.

For subscription products and services, we generally provide continuous access to dynamic data sets and analytics for a defined period, with revenue recognized ratably as our performance obligation to provide access to our data and analytics is progressively fulfilled over the stated term of the contract.

Non-transaction revenue

Non-transaction revenue at Ratings is primarily related to surveillance of a credit rating, annual fees for customer relationship-based pricing programs, fees for entity credit ratings and global research and analytics. Non-transaction revenue also includes an intersegment revenue elimination of $32 million and $92 million for the three and nine months ended September 30, 2018, respectively, and $28 million and $81 million for the three and nine months ended September 30, 2017, respectively, mainly consisting of the royalty charged to Market Intelligence for the rights to use and distribute content and data developed by Ratings.

For non-transaction revenue related to Rating’s surveillance services, we continuously monitor factors that impact the creditworthiness of an issuer over the contractual term with revenue recognized to the extent that our performance obligation is progressively fulfilled over the term contract. Because surveillance services are continuously provided throughout the term of the contract, our measure of progress towards fulfillment of our obligation to monitor a rating is a time-based output measure with revenue recognized ratably over the term of the contract.

Non-subscription / Transaction revenue

Transaction revenue at our Ratings segment primarily includes fees associated with:


•	ratings related to new issuance of corporate and government debt instruments; and structured finance instruments;


•	bank loan ratings; and


•	corporate credit estimates, which are intended, based on an abbreviated analysis, to provide an indication of our opinion regarding creditworthiness of a company which does not currently have a Ratings credit rating.

Transaction revenue is recognized at the point in time when our performance obligation is satisfied by issuing a rating on our customer's instruments, our customer's creditworthiness, or a counter-party's creditworthiness and when we have a right to payment and the customer can benefit from the significant risks and rewards of ownership.

Non-subscription revenue at Market Intelligence is primarily related to certain advisory, pricing and analytical services. Non-subscription revenue at Platts is primarily related to conference sponsorship, consulting engagements and events.

Asset-linked fees

Asset-linked fees at Indices and Market Intelligence are primarily related to royalties payments based on the value of assets under management in our customers exchange-traded funds and mutual funds.

For asset-linked products and services, we provide licenses conveying continuous access to our index and benchmark-related intellectual property during a specified contract term. Revenue is recognized when the extent that our customers have used our licensed intellectual property can be quantified. Recognition of revenue for our asset-linked fee arrangements is subject to the "recognition constraint" for usage-based royalty payments because we cannot reasonably predict the value of the assets that will be invested in index funds structured using our intellectual property until it is either publicly available or when we are notified by our customers. Revenue derived from an asset-linked fee arrangement is measured and recognized when the certainty of the extent of its utilization of our index products by our customers is known.

Sales usage-based royalties

Sales usage-based royalty revenue at our Indices segment is primarily related to trading based fees from exchange-traded derivatives. Sales and usage-based royalty revenue at our Platts segment is primarily related to licensing of its proprietary market price data and price assessments to commodity exchanges.

For sales usage-based royalty products and services, we provide licenses conveying the right to continuous access to our intellectual property over the contract term, with revenue recognized when the extent of our license’s utilization can be quantified, or more specifically, when trading volumes are known and publicly available to us or when we are notified by our customers. Recognition of revenue of fees tied to trading volumes is subject to the recognition constraint for a usage-based royalty promised by our customers in exchange for the license of our intellectual property, with revenue recognized when trading volumes are known.

Arrangements with Multiple Performance Obligations

Our contracts with customers may include multiple performance obligations. Revenue relating to agreements that provide for more than one performance obligation is recognized based upon the relative fair value to the customer of each service component as each component is earned. The fair value of the service components are determined using an analysis that considers cash consideration that would be received for instances when the service components are sold separately. If the fair value to the customer for each service is not objectively determinable, we make our best estimate of the services’ stand-alone selling price and record revenue as it is earned over the service period.

Receivables

We record a receivable when a customer is billed or when revenue is recognized prior to billing a customer. For multi-year agreements, we generally invoice customers annually at the beginning of each annual period. The opening balance of accounts receivable, net of allowance for doubtful accounts, was $1,319 million as of January 1, 2018.

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 September 30, 2018 and December 31, 2017, contract assets were $43 million and $17 million, respectively, and are included in accounts receivable in our consolidated balance sheets.

Unearned Revenue

We record unearned revenue when cash payments are received or due in advance of our performance. The decrease in the deferred revenue balance for the three and nine months ended September 30, 2018 is primarily driven by $1.4 billion of revenues recognized that were included in the unearned revenue balance at the beginning of the period, offset by cash payments received or due in advance of satisfying our performance obligations.

Remaining Performance Obligations

Remaining performance obligations represent the transaction price of contracts for work that has not yet been performed. As of September 30, 2018, the aggregate amount of the transaction price allocated to remaining performance obligations was $1.2 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 certain sales commission programs meet the requirements to be capitalized. Total capitalized costs to obtain a contract were $82 million as of September 30, 2018, and is included in prepaid and other current assets and other non-current assets on our consolidated balance sheets. The 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. The expense is recorded within selling and general expenses.

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

Recently Issued or Adopted Accounting Standards

In August of 2018, FASB issued guidance to align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The guidance is effective for reporting periods beginning after December 15, 2019; however early adoption is permitted. We are currently evaluating the impact of this guidance on our consolidated financial statements.

In February of 2018, FASB issued guidance which allows companies to reclassify certain stranded income tax effects resulting from the enactment of the TCJA from accumulated other comprehensive income to retained earnings. The guidance is effective for reporting periods after December 15, 2018; however, early adoption is permitted. We are currently evaluating the impact of the adoption of this guidance on our consolidated financial statements.

In August of 2017, FASB issued guidance to enhance the hedge accounting model for both nonfinancial and financial risk components, which includes amendments to address certain aspects of recognition and presentation disclosure. The guidance is effective for reporting periods beginning after December 15, 2018. We do not expect this guidance to have a significant impact on our consolidated financial instruments.

In May of 2017, FASB issued guidance that provides clarification on when modification accounting should be used for changes to the terms or conditions of a share-based payment award. This guidance does not change the accounting for modifications but

clarifies when modification accounting guidance should be applied. Under the new guidance, an entity should apply modification accounting in response to a change in the terms and conditions of an entity's share-based payment awards unless three newly specified criteria are met. The guidance was effective on January 1, 2018, and the adoption of this guidance did not have a significant impact on our consolidated financial statements.

In March of 2017, FASB issued guidance to enhance the presentation of net periodic pension cost and net periodic postretirement benefit cost. The guidance requires employers to report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period, and requires the other components of net periodic pension cost and net periodic postretirement benefit cost to be presented in the income statement separately from the service cost component outside a subtotal of income from operations. Additionally, only the service cost component is eligible for capitalization. We adopted the guidance on January 1, 2018. The change in capitalization requirement did not have a material impact on our consolidated financial statements. As a result of the adoption of the guidance, 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. See Note 6 — Employee Benefits for additional information related to our retirement and postretirement plans.

In January of 2017, the FASB issued guidance that simplifies the subsequent measurement of goodwill and eliminates Step 2 from the goodwill impairment test. Under the new guidance, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The guidance is effective for reporting periods beginning after December 15, 2019; however, early adoption is permitted. We do not expect this guidance to have a significant impact on our consolidated financial statements.

In January of 2017, the FASB issued guidance that clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The guidance was effective on January 1, 2018, and the adoption of this guidance did not have a significant impact on our consolidated financial statements.

In November of 2016, the FASB issued guidance requiring that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. We adopted this guidance on January 1, 2018. The adoption of this guidance did not have a significant impact on our consolidated financial statements.

In August of 2016, the FASB issued guidance providing amendments to eight specific statement of cash flows classification issues. The guidance was effective on January 1, 2018, and the adoption of this guidance did not have a significant impact on our consolidated financial statements.

In February of 2016, the FASB issued guidance that amends the accounting for leases. Under the new guidance, a lessee will now recognize a "right of use" asset with an offsetting lease liability, with expenses recognized similar to current lease accounting. The guidance is effective for reporting periods beginning after December 15, 2018 with early adoption permitted. In July of 2018, the FASB issued a subsequent update providing entities an additional transition method to adopt the new lease standard, allowing entities to adopt the standard prospectively without restating prior period’s financial statements. We expect to elect this transition method upon adoption on January 1, 2019. We have also elected to apply the “package” of practical expedients permitting entities to forgo reassessment of (1) the lease classification of expired or existing leases, (2) whether any expired or existing contracts contain leases, and (3) the accounting for initial direct costs of existing leases.

As part of our implementation plan, we are in the process of executing a number of workflows including a qualitative and quantitative accounting analysis of our significant lease agreements in the construct of the new standard, and have refined our processes, procedures, and controls to capture the complete population of our leases. In addition we selected and are in the process of implementing a third party software solution that will systematically capture, process, and record both the initial and ongoing financial statement impact of the new standard. Our preliminary quantitative analysis of the financial statement impact indicates the adoption of the new standard will have a material impact on our consolidated balance sheet; however, we do not expect that the standard will have a material impact on our consolidated statements of income or cash flows.

In January of 2016, the FASB issued guidance to enhance the reporting model for financial instruments, which includes amendments to address certain aspects of recognition, measurement, presentation and disclosure. We adopted this guidance on January 1, 2018. We recorded a reduction to opening retained earnings and an increase to accumulated other comprehensive income of $10 million as of January 1, 2018 due to the adoption of this guidance. The adoption of this guidance did not have a significant impact on our consolidated financial statements.

In May of 2014, the FASB and the International Accounting Standards Board (“IASB”) issued jointly a converged standard on the recognition of revenue from contracts with customers, which is intended to improve the financial reporting of revenue and comparability of the top line in financial statements globally. The core principle of the new standard is for the recognition of revenue to depict the transfer of goods or services to customers in amounts that reflect the payment to which the company expects to be entitled in exchange for those goods or services. The new standard also results in enhanced revenue disclosures, provides guidance for transactions that were not previously addressed comprehensively and improves guidance for multiple-element arrangements. We adopted the new revenue standard effective January 1, 2018 using the modified retrospective transition method. See Note 1— Nature of Operations and Basis of Presentation for further details.

Nature of Operations and Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Revenue Disaggregated by Revenue Type

The following table presents our revenue disaggregated by revenue type:



(in millions)	Ratings		Market Intelligence		Platts		Indices		Corporate		Intersegment Elimination ¹			Total

	Three Months Ended September 30, 2018
Subscription	$	—	$	451	$	188	$	41	$	5	$	—		$	685
Non-transaction	372		—		—		—		—		(32		)	340
Non-subscription / Transaction	328		8		2		—		—		—			338
Asset-linked fees	—		5		—		131		—		—			136
Sales usage-based royalties	—		—		14		33		—		—			47
Total revenue	$	700	$	464	$	204	$	205	$	5	$	(32	)	$	1,546

Timing of revenue recognition
Services transferred at a point in time	$	328	$	8	$	2	$	—	$	—	$	—		$	338
Services transferred over time	372		456		202		205		5		(32		)	1,208
Total revenue	$	700	$	464	$	204	$	205	$	5	$	(32	)	$	1,546

	Nine Months Ended September 30, 2018
Subscription	$	—	$	1,306	$	556	$	109	$	10	$	—		$	1,981
Non-transaction	1,129		—		—		—		—		(92		)	1,037
Non-subscription / Transaction	1,094		28		8		—		—		—			1,130
Asset-linked fees	—		15		—		396		—		—			411
Sales usage-based royalties	—		—		40		122		—		—			162
Total revenue	$	2,223	$	1,349	$	604	$	627	$	10	$	(92	)	$	4,721

Timing of revenue recognition
Services transferred at a point in time	$	1,094	$	28	$	8	$	—	$	—	$	—		$	1,130
Services transferred over time	1,129		1,321		596		627		10		(92		)	3,591
Total revenue	$	2,223	$	1,349	$	604	$	627	$	10	$	(92	)	$	4,721



(in millions)	Ratings		Market Intelligence		Platts		Indices		Corporate		Intersegment Elimination ¹			Total

	Three Months Ended September 30, 2017 ²
Subscription	$	—	$	406	$	177	$	36	$	—	$	—		$	619
Non-transaction	367		—		—		—		—		(28		)	339
Non-subscription / Transaction	372		10		2		—		—		—			384
Asset-linked fees	—		6		—		118		—		—			124
Sales usage-based royalties	—		—		14		33		—		—			47
Total revenue	$	739	$	422	$	193	$	187	$	—	$	(28	)	$	1,513

Timing of revenue recognition
Services transferred at a point in time	$	372	$	10	$	2	$	—	$	—	$	—		$	384
Services transferred over time	367		412		191		187		—		(28		)	1,129
Total revenue	$	739	$	422	$	193	$	187	$	—	$	(28	)	$	1,513

	Nine Months Ended September 30, 2017 ²
Subscription	$	—	$	1,189	$	523	$	104	$	—	$	—		$	1,816
Non-transaction	1,061		—		—		—		—		(81		)	980
Non-subscription / Transaction	1,138		32		9		—		—		—			1,179
Asset-linked fees	—		17		—		340		—		—			357
Sales usage-based royalties	—		—		45		98		—		—			143
Total revenue	$	2,199	$	1,238	$	577	$	542	$	—	$	(81	)	$	4,475

Timing of revenue recognition
Services transferred at a point in time	$	1,138	$	32	$	9	$	—	$	—	$	—		$	1,179
Services transferred over time	1,061		1,206		568		542		—		(81		)	3,296
Total revenue	$	2,199	$	1,238	$	577	$	542	$	—	$	(81	)	$	4,475


¹	Intersegment eliminations mainly consists of a royalty charged to Market Intelligence for the rights to use and distribute content and data developed by Ratings.


²	As noted above, amounts for the three and nine months ended September 30, 2017 were not adjusted under the modified retrospective transition method applied to our revenue contracts with customers as of January 1, 2018.

Schedule of Components of Other (Income) Expense, Net [Table Text Block]

The components of other income, net for the three and nine months ended September 30 are as follows:



(in millions)	Three Months						Nine Months
	2018			2017			2018			2017
Other components of net periodic benefit cost	$	(8	)	$	(9	)	$	(24	)	$	(26	)
Net loss from investments ¹	2			—			2			—
Other income, net	$	(6	)	$	(9	)	$	(22	)	$	(26	)


¹	Primarily relates to the change in fair value of CRISIL's investment in Care Ratings Limited ("CARE"). The investment balance of CARE as of September 30, 2018 and December 31, 2017 is $43 million and $54 million, respectively, and is included in non-current assets in our consolidated balance sheets.

Debt (Tables)

9 Months Ended

Sep. 30, 2018

Debt Disclosure [Abstract]

Schedule of Debt

A summary of short-term and long-term debt outstanding is as follows:



(in millions)	September 30, 2018		December 31, 2017
2.5% Senior Notes, due 2018 ¹	$	—	$	399
3.3% Senior Notes, due 2020 ²	698		697
4.0% Senior Notes, due 2025 ³	692		692
4.4% Senior Notes, due 2026 ⁴	892		892
2.95% Senior Notes, due 2027 ⁵	493		493
6.55% Senior Notes, due 2037 ⁶	396		396
4.5% Senior Notes, due 2048 ⁷	490		—
Total debt	3,661		3,569
Less: short-term debt including current maturities	—		399
Long-term debt	$	3,661	$	3,170


¹	We made a $400 million early repayment of our 2.5% senior notes in June of 2018.


²	Interest payments are due semiannually on February 14 and August 14, and as of September 30, 2018, the unamortized debt discount and issuance costs total $2 million.


³	Interest payments are due semiannually on June 15 and December 15, and as of September 30, 2018, the unamortized debt discount and issuance costs total $8 million.


⁴	Interest payments are due semiannually on February 15 and August 15, and as of September 30, 2018, the unamortized debt discount and issuance costs total $8 million.


⁵	Interest payments are due semiannually on January 22 and July 22, and as of September 30, 2018, the unamortized debt discount and issuance costs total $7 million.


⁶	Interest payments are due semiannually on May 15 and November 15, and as of September 30, 2018, the unamortized debt discount and issuance costs total $4 million.


⁷	Interest payments are due semiannually on May 15 and November 15, beginning on November 15, 2018, and as of September 30, 2018, the unamortized debt discount and issuance costs total $10 million.

Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of the Location and Fair Value Amounts of Cash Flow Hedges

The following table provides information on the location and fair value amounts of our cash flow hedges as of September 30, 2018 and December 31, 2017:



(in millions) Balance Sheet Location		September 30, 2018			December 31, 2017
Prepaid and other current assets	Foreign exchange forward contracts	$	1		$	3
Other current liabilities	Foreign exchange forward contracts	$	(7	)	$	—

Schedule of the Location and Amounts of Pre-Tax Gains (Losses) on Cash Flow Hedges

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

Three Months



(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)
Cash flow hedges - designated as hedging instruments	2018			2017			2018			2017
Foreign exchange forward contracts	$	(3	)	$	3	Revenue, Selling and general expenses	$	(2	)	$	2

Nine Months



(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)
Cash flow hedges - designated as hedging instruments	2018			2017			2018			2017
Foreign exchange forward contracts	$	(6	)	$	2	Revenue, Selling and general expenses	$	(3	)	$	6

Schedule of Change in Unrealized Gains (Losses) in Accumulated Other Comprehensive Loss

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



(in millions)	Three Months						Nine Months
	2018			2017			2018			2017
Net unrealized (losses) gains on cash flow hedges, net of taxes, beginning of period	$	(1	)	$	1		$	2		$	2
Change in fair value, net of tax	(5		)	5			(9		)	8
Reclassification into earnings, net of tax	2			(2		)	3			(6		)
Net unrealized (losses) gains on cash flow hedges, net of taxes, end of period	$	(4	)	$	4		$	(4	)	$	4

Employee Benefits (Tables)

9 Months Ended

Sep. 30, 2018

Retirement Benefits [Abstract]

Schedule of Components of Net Periodic Benefit Cost (Credit)

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



(in millions)	Three Months						Nine Months
	2018			2017			2018			2017
Service cost	$	1		$	1		$	2		$	2
Interest cost	18			19			54			56
Expected return on assets	(31		)	(32		)	(94		)	(95		)
Amortization of prior service credit / actuarial loss	4			4			13			12
Net periodic benefit cost	$	(8	)	$	(8	)	$	(25	)	$	(25	)

Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2018

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

Schedule of Stock-Based Compensation

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



(in millions)	Three Months				Nine Months
	2018		2017		2018		2017
Stock option expense	$	1	$	1	$	3	$	2
Restricted stock and unit awards expense	26		23		70		63
Total stock-based compensation expense	$	27	$	24	$	73	$	65

Equity (Tables)

9 Months Ended

Sep. 30, 2018

Equity [Abstract]

Schedule of Share Repurchases

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



(in millions, except average price)	Three Months				Nine Months
	2018		2017		2018		2017
Total number of shares purchased ¹	0.7		2.8		5.7		5.4
Average price paid per share ²	$	205.11	$	—	$	180.94	$	133.01
Total cash utilized ³	$	13	$	500	$	1,113	$	846


¹	The three and nine months ended September 30, 2018 and 2017 include shares received as part of our accelerated share repurchase agreement described in more detail below.


²	Average price paid per share information does not include the accelerated share repurchase agreement as discussed in more detail below.


³	During the third quarter of 2018, we repurchased shares for approximately $6 million, which settled in October 2018. Cash used for financing activities only reflects those shares which settled during the nine months ended September 30, 2018 resulting in $1,108 million of cash used to repurchase shares.

Schedule of Redeemable Noncontrolling Interest

Changes to redeemable noncontrolling interest during the nine months ended September 30, 2018 were as follows:



(in millions)
Balance as of December 31, 2017	$	1,350
Net income attributable to noncontrolling interest	112
Distributions payable to noncontrolling interest	(93		)
Redemption value adjustment	116
Balance as of September 30, 2018	$	1,485

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 nine months ended September 30, 2018:



(in millions)	Foreign Currency Translation Adjustment			Pension and Postretirement Benefit Plans				Unrealized Gain (Loss) on Forward Exchange Contracts				Unrealized Gain (Loss) on Investments				Accumulated Other Comprehensive Loss
Balance as of December 31, 2017	$	(239	)	$	(402	)		$	2			$	(10	)		$	(649	)
Other comprehensive income before reclassifications	(54		)	(14		)		(9		)		—				(77		)
Reclassifications from accumulated other comprehensive loss to net earnings	—			10			¹	3			²	—				13
Net other comprehensive income	(54		)	(4		)		(6		)		—				(64		)
Amounts reclassified to retained income	—			—				—				10			³	10
Balance as of September 30, 2018	$	(293	)	$	(406	)		$	(4	)		$	—			$	(703	)


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


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


³	On January 1, 2018, the unrealized loss on investments was reclassified to retained income. See Note 13 — Recently Issued or Adopted Accounting Standards for additional details.

Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Schedule of Calculation for Basic and Diluted Earnings Per Share

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



(in millions, except per share amounts)	Three Months				Nine Months
	2018		2017		2018		2017
Amounts attributable to S&P Global Inc. common shareholders:
Net income	$	495	$	414	$	1,447	$	1,234

Basic weighted-average number of common shares outstanding	251.3		255.5		251.6		257.0
Effect of stock options and other dilutive securities	2.2		2.4		2.1		2.5
Diluted weighted-average number of common shares outstanding	253.5		257.9		253.7		259.5

Earnings per share attributable to S&P Global Inc. common shareholders:
Net income:
Basic	$	1.97	$	1.62	$	5.75	$	4.80
Diluted	$	1.95	$	1.61	$	5.70	$	4.75

Restructuring (Tables)

9 Months Ended

Sep. 30, 2018

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 September 30, 2018 by segment is as follows:



	2018 Restructuring Plans				2017 Restructuring Plans
(in millions)	Initial Charge Recorded		Ending Reserve Balance		Initial Charge Recorded		Ending Reserve Balance
Ratings	$	—	$	—	$	25	$	10
Market Intelligence	2		2		8		2
Platts	—		—		1		—
Indices	—		—		—		—
Corporate	7		7		10		3
Total	$	9	$	9	$	44	$	15

Segment and Related Information (Tables)

9 Months Ended

Sep. 30, 2018

Segment Reporting [Abstract]

Schedule of Operating Results by Segment

A summary of operating results for the periods ended September 30 is as follows:



Revenue	Three Months						Nine Months
(in millions)	2018			2017			2018			2017
Ratings	$	700		$	739		$	2,223		$	2,199
Market Intelligence	464			422			1,349			1,238
Platts	204			193			604			577
Indices	205			187			627			542
Corporate	5			—			10			—
Intersegment elimination ¹	(32		)	(28		)	(92		)	(81		)
Total revenue	$	1,546		$	1,513		$	4,721		$	4,475



Operating Profit	Three Months						Nine Months
(in millions)	2018			2017			2018			2017
Ratings ²	$	395		$	375		$	1,173		$	1,144
Market Intelligence ³	148			123			388			339
Platts ⁴	98			84			285			245
Indices ⁵	134			119			416			352
Total reportable segments	775			701			2,262			2,080
Corporate Unallocated ⁶	(71		)	(52		)	(176		)	(124		)
Total operating profit	$	704		$	649		$	2,086		$	1,956


¹	Revenue 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 includes legal settlement expenses of $73 million for the nine months ended September 30, 2018. Operating profit includes employee severance charges of $15 million for the three and nine months ended September 30, 2017 and legal settlement expenses of $2 million for the nine months ended September 30, 2017. Operating profit also includes amortization of intangibles from acquisitions of $1 million for the three months ended September 30, 2018 and 2017 and $2 million and $3 million for the nine months ended September 30, 2018 and 2017, respectively.

³

Operating profit includes restructuring charges related to a business disposition and employee severance charges of $2 million for the three and nine months ended September 30, 2018. Operating profit includes a non-cash disposition-related adjustment of $4 million and employee severance charges of $4 million for the nine months ended September 30, 2017. Operating profit includes amortization of intangibles from acquisitions of $18 million and $17 million for the three months ended September 30, 2018 and 2017, respectively, and $54 million and $52 million for the nine months ended September 30, 2018 and 2017, respectively.

⁴

Operating profit includes amortization of intangibles from acquisitions of $4 million and $5 million for the three months ended September 30, 2018 and 2017, respectively, and $13 million for the nine months ended September 30, 2018 and 2017. Operating profit includes a non-cash acquisition-related adjustment of $11 million, a charge to exit a leased facility of $6 million, an asset write-off of $2 million, and employee severance charges of $1 million for the nine months ended September 30, 2017.


⁵	Operating profit includes amortization of intangibles from acquisitions of $2 million and $1 million for the three months ended September 30, 2018 and 2017, respectively, and $5 million and $4 million for the nine months ended September 30, 2018 and 2017, respectively.

⁶

Operating loss for the three and nine months months ended September 30, 2018 includes Kensho retention related expense of $11 million and $23 million, respectively, lease impairments of $11 million and employee severance charges of $7 million. Operating loss also includes amortization of intangibles from acquisitions of $8 million and $17 million for the three and nine months ended September 30, 2018, respectively. Operating loss for the three and nine months ended September 30, 2017 includes employee severance charges of $4 million.

Schedule of Revenue by Geographic Region

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



(in millions)	Three Months				Nine Months
	2018		2017		2018		2017
U.S.	$	932	$	914	$	2,843	$	2,726
European region	380		361		1,164		1,068
Asia	160		157		475		432
Rest of the world	74		81		239		249
Total	$	1,546	$	1,513	$	4,721	$	4,475

Condensed Consolidating Financial Statements (Tables)

9 Months Ended

Sep. 30, 2018

Condensed Financial Information Disclosure [Abstract]

Schedule of Statement of Income



	Statement of Income
	Three Months Ended September 30, 2018
	(Unaudited)
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
Revenue	$	196		$	422		$	967		$	(39	)	$	1,546
Expenses:
Operating-related expenses	26			110			309			(39		)	406
Selling and general expenses	42			79			262			—			383
Depreciation	9			2			9			—			20
Amortization of intangibles	—			—			33			—			33
Total expenses	77			191			613			(39		)	842
Operating profit	119			231			354			—			704
Other income, net	(5		)	—			(1		)	—			(6		)
Interest expense (income), net	39			1			(2		)	—			38
Non-operating intercompany transactions	90			(11		)	(83		)	4			—
Income before taxes on income	(5		)	241			440			(4		)	672
(Benefit) provision for taxes on income	(65		)	94			108			—			137
Equity in net income of subsidiaries	440			—			—			(440		)	—
Net income	$	500		$	147		$	332		$	(444	)	$	535
Less: net income attributable to noncontrolling interests	—			—			—			(40		)	(40		)
Net income attributable to S&P Global Inc.	$	500		$	147		$	332		$	(484	)	$	495
Comprehensive income	$	490		$	147		$	341		$	(441	)	$	537



	Statement of Income
	Nine Months Ended September 30, 2018
	(Unaudited)
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
Revenue	$	587		$	1,318		$	2,929		$	(113	)	$	4,721
Expenses:
Operating-related expenses	108			333			962			(113		)	1,290
Selling and general expenses	149			222			823			—			1,194
Depreciation	24			6			30			—			60
Amortization of intangibles	—			—			91			—			91
Total expenses	281			561			1,906			(113		)	2,635
Operating profit	306			757			1,023			—			2,086
Other income, net	(21		)	—			(1		)	—			(22		)
Interest expense (income), net	105			2			(9		)	—			98
Non-operating intercompany transactions	277			(54		)	(1,538		)	1,315			—
Income before taxes on income	(55		)	809			2,571			(1,315		)	2,010
(Benefit) provision for taxes on income	(52		)	240			252			—			440
Equity in net income of subsidiaries	2,804			—			—			(2,804		)	—
Net income	$	2,801		$	569		$	2,319		$	(4,119	)	$	1,570
Less: net income attributable to noncontrolling interests	—			—			—			(123		)	(123		)
Net income attributable to S&P Global Inc.	$	2,801		$	569		$	2,319		$	(4,242	)	$	1,447
Comprehensive income	$	2,781		$	569		$	2,274		$	(4,118	)	$	1,506



	Statement of Income
	Three Months Ended September 30, 2017
	(Unaudited)
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
Revenue	$	184		$	435		$	929		$	(35	)	$	1,513
Expenses:
Operating-related expenses	6			124			324			(35		)	419
Selling and general expenses	70			101			228			—			399
Depreciation	9			3			10			—			22
Amortization of intangibles	—			—			24			—			24
Total expenses	85			228			586			(35		)	864
Operating profit	99			207			343			—			649
Other income, net	(6		)	—			(3		)	—			(9		)
Interest expense (income), net	41			—			(4		)	—			37
Non-operating intercompany transactions	91			(13		)	(91		)	13			—
Income before taxes on income	(27		)	220			441			(13		)	621
(Benefit) provision for taxes on income	(45		)	107			107			—			169
Equity in net income of subsidiaries	409			—			—			(409		)	—
Net income	$	427		$	113		$	334		$	(422	)	$	452
Less: net income attributable to noncontrolling interests	—			—			—			(38		)	(38		)
Net income attributable to S&P Global Inc.	$	427		$	113		$	334		$	(460	)	$	414
Comprehensive income	$	405		$	113		$	382		$	(427	)	$	473



	Statement of Income
	Nine Months Ended September 30, 2017
	(Unaudited)
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
Revenue	$	545		$	1,320		$	2,712		$	(102	)	$	4,475
Expenses:
Operating-related expenses	58			359			947			(102		)	1,262
Selling and general expenses	146			273			704			—			1,123
Depreciation	23			9			29			—			61
Amortization of intangibles	—			—			73			—			73
Total expenses	227			641			1,753			(102		)	2,519
Operating profit	318			679			959			—			1,956
Other income, net	(18		)	—			(8		)	—			(26		)
Interest expense (income), net	119			—			(9		)	—			110
Non-operating intercompany transactions	270			(55		)	(1,717		)	1,502			—
Income before taxes on income	(53		)	734			2,693			(1,502		)	1,872
(Benefit) provision for taxes on income	(91		)	325			299			—			533
Equity in net income of subsidiaries	2,697			—			—			(2,697		)	—
Net income	$	2,735		$	409		$	2,394		$	(4,199	)	$	1,339
Less: net income attributable to noncontrolling interests	—			—			—			(105		)	(105		)
Net income attributable to S&P Global Inc.	$	2,735		$	409		$	2,394		$	(4,304	)	$	1,234
Comprehensive income	$	2,724		$	409		$	2,500		$	(4,199	)	$	1,434

Schedule of Balance Sheet



	Balance Sheet
	September 30, 2018
	(Unaudited)
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	891		$	—		$	1,267		$	—		$	2,158
Restricted cash	—			—			45			—			45
Accounts receivable, net of allowance for doubtful accounts	128			166			943			—			1,237
Intercompany receivable	567			1,929			2,819			(5,315		)	—
Prepaid and other current assets	86			(3		)	105			—			188
Total current assets	1,672			2,092			5,179			(5,315		)	3,628
Property and equipment, net of accumulated depreciation	192			—			83			—			275
Goodwill	261			—			3,274			9			3,544
Other intangible assets, net	—			—			1,420			—			1,420
Investments in subsidiaries	7,971			6			7,997			(15,974		)	—
Intercompany loans receivable	124			—			1,771			(1,895		)	—
Other non-current assets	226			44			246			—			516
Total assets	$	10,446		$	2,142		$	19,970		$	(23,175	)	$	9,383
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	81		$	18		$	95		$	—		$	194
Intercompany payable	4,168			55			1,092			(5,315		)	—
Accrued compensation and contributions to retirement plans	112			35			160			—			307
Income taxes currently payable	9			—			83			—			92
Unearned revenue	272			242			1,062			—			1,576
Other current liabilities	192			12			144			—			348
Total current liabilities	4,834			362			2,636			(5,315		)	2,517
Long-term debt	3,661			—			—			—			3,661
Intercompany loans payable	109			—			1,786			(1,895		)	—
Pension and other postretirement benefits	176			—			49			—			225
Other non-current liabilities	210			60			267			—			537
Total liabilities	8,990			422			4,738			(7,210		)	6,940
Redeemable noncontrolling interest	—			—			—			1,485			1,485
Equity:
Common stock	412			—			2,275			(2,275		)	412
Additional paid-in capital	155			614			10,223			(10,095		)	897
Retained income	11,882			1,106			3,209			(5,194		)	11,003
Accumulated other comprehensive loss	(290		)	—			(461		)	48			(703		)
Less: common stock in treasury	(10,703		)	—			(15		)	14			(10,704		)
Total equity - controlling interests	1,456			1,720			15,231			(17,502		)	905
Total equity - noncontrolling interests	—			—			1			52			53
Total equity	1,456			1,720			15,232			(17,450		)	958
Total liabilities and equity	$	10,446		$	2,142		$	19,970		$	(23,175	)	$	9,383



	Balance Sheet
	December 31, 2017
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	632		$	—		$	2,145		$	—		$	2,777
Restricted cash	—			—			2			—			2
Accounts receivable, net of allowance for doubtful accounts	138			152			1,029			—			1,319
Intercompany receivable	768			1,784			2,527			(5,079		)	—
Prepaid and other current assets	143			(3		)	86			—			226
Total current assets	1,681			1,933			5,789			(5,079		)	4,324
Property and equipment, net of accumulated depreciation	158			10			107			—			275
Goodwill	261			—			2,719			9			2,989
Other intangible assets, net	—			—			1,388			—			1,388
Investments in subsidiaries	8,364			5			8,028			(16,397		)	—
Intercompany loans receivable	116			—			1,699			(1,815		)	—
Other non-current assets	215			61			174			(1		)	449
Total assets	$	10,795		$	2,009		$	19,904		$	(23,283	)	$	9,425
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	79		$	23		$	93		$	—		$	195
Intercompany payable	3,433			492			1,154			(5,079		)	—
Accrued compensation and contributions to retirement plans	145			86			241			—			472
Short-term debt	399			—			—			—			399
Income taxes currently payable	2			—			75			—			77
Unearned revenue	293			193			1,127			—			1,613
Accrued legal settlements	—			2			105			—			107
Other current liabilities	136			21			194			—			351
Total current liabilities	4,487			817			2,989			(5,079		)	3,214
Long-term debt	3,170			—			—			—			3,170
Intercompany loans payable	101			—			1,715			(1,816		)	—
Pension and other postretirement benefits	180			—			64			—			244
Other non-current liabilities	376			74			229			—			679
Total liabilities	8,314			891			4,997			(6,895		)	7,307
Redeemable noncontrolling interest	—			—			—			1,350			1,350
Equity:
Common stock	412			—			2,318			(2,318		)	412
Additional paid-in capital	(216		)	602			9,256			(9,117		)	525
Retained income	12,156			516			3,782			(6,429		)	10,025
Accumulated other comprehensive loss	(269		)	—			(426		)	46			(649		)
Less: common stock in treasury	(9,602		)	—			(23		)	23			(9,602		)
Total equity - controlling interests	2,481			1,118			14,907			(17,795		)	711
Total equity - noncontrolling interests	—			—			—			57			57
Total equity	2,481			1,118			14,907			(17,738		)	768
Total liabilities and equity	$	10,795		$	2,009		$	19,904		$	(23,283	)	$	9,425

Schedule of Statement of Cash Flows



	Statement of Cash Flows
	Nine Months Ended September 30, 2018
	(Unaudited)
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
Operating Activities:
Net income	$	2,801		$	569		$	2,319		$	(4,119	)	$	1,570
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	24			6			30			—			60
Amortization of intangibles	—			—			91			—			91
Provision for losses on accounts receivable	1			1			14			—			16
Stock-based compensation	21			12			40			—			73
Other	33			—			8						41
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable	10			(15		)	67						62
Prepaid and other current assets	(11		)	1			11			—			1
Accounts payable and accrued expenses	(31		)	(58		)	(78		)				(167		)
Unearned revenue	(20		)	23			(75		)				(72		)
Accrued legal settlements	—			—			(180		)	—			(180		)
Other current liabilities	(15		)	(8		)	5						(18		)
Net change in prepaid/accrued income taxes	51			2			9			—			62
Net change in other assets and liabilities	(123		)	23			(38		)				(138		)
Cash provided by operating activities	2,741			556			2,223			(4,119		)	1,401
Investing Activities:
Capital expenditures	(63		)	(14		)	(11		)	—			(88		)
Acquisitions, net of cash acquired	—			—			(263		)	—			(263		)
Changes in short-term investments	—			—			5			—			5
Cash used for investing activities	(63		)	(14		)	(269		)	—			(346		)
Financing Activities:
Proceeds from issuance of senior notes, net	489			—			—			—			489
Payments on senior notes	(403		)	—			—			—			(403		)
Dividends paid to shareholders	(379		)	—			—			—			(379		)
Distributions to noncontrolling interest holders	—			—			(116		)	—			(116		)
Purchase of CRISIL shares	—			—			(25		)	—			(25		)
Repurchase of treasury shares	(1,108		)	—			—			—			(1,108		)
Exercise of stock options	18			—			6			—			24
Employee withholding tax on share-based payments	(61		)	—			—			—			(61		)
Intercompany financing activities	(961		)	(542		)	(2,616		)	4,119			—
Cash used for financing activities	(2,405		)	(542		)	(2,751		)	4,119			(1,579		)
Effect of exchange rate changes on cash from continuing operations	(14		)	—			(38		)	—			(52		)
Net change in cash, cash equivalents, and restricted cash	259			—			(835		)	—			(576		)
Cash, cash equivalents, and restricted cash at beginning of period	632			—			2,147			—			2,779
Cash, cash equivalents, and restricted cash at end of period	$	891		$	—		$	1,312		$	—		$	2,203



	Statement of Cash Flows
	Nine Months Ended September 30, 2017
	(Unaudited)
(in millions)	S&P Global Inc.			Standard & Poor's Financial Services LLC			Non-Guarantor Subsidiaries			Eliminations			S&P Global Inc. Consolidated
Operating Activities:
Net income	$	2,735		$	409		$	2,394		$	(4,199	)	$	1,339
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	24			9			28			—			61
Amortization of intangibles	—			—			73			—			73
Provision for losses on accounts receivable	1			2			14			—			17
Stock-based compensation	23			15			27			—			65
Other	27			15			—			—			42
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable	(2		)	(73		)	11			—			(64		)
Prepaid and other current assets	(8		)	2			9			—			3
Accounts payable and accrued expenses	(19		)	56			(87		)	—			(50		)
Unearned revenue	14			17			(138		)	—			(107		)
Accrued legal settlements	—			(1		)	(3		)	—			(4		)
Other current liabilities	(42		)	(11		)	(41		)	—			(94		)
Net change in prepaid/accrued income taxes	(27		)	(18		)	3			—			(42		)
Net change in other assets and liabilities	(42		)	(5		)	11			—			(36		)
Cash provided by operating activities	2,684			417			2,301			(4,199		)	1,203
Investing Activities:
Capital expenditures	(34		)	(17		)	(26		)	—			(77		)
Acquisitions, net of cash acquired	—			—			(80		)	—			(80		)
Proceeds from dispositions	—			—			2			—			2
Cash used for investing activities	(34		)	(17		)	(104		)	—			(155		)
Financing Activities:
Dividends paid to shareholders	(316		)	—			—			—			(316		)
Distributions to noncontrolling interest holders	—			—			(69		)	—			(69		)
Repurchase of treasury shares	(846		)	—			—			—			(846		)
Exercise of stock options	63			—			6			—			69
Employee withholding tax on share-based payments	(49		)	—			—			—			(49		)
Intercompany financing activities	(1,960		)	(400		)	(1,839		)	4,199			—
Cash used for financing activities	(3,108		)	(400		)	(1,902		)	4,199			(1,211		)
Effect of exchange rate changes on cash from continuing operations	(10		)	—			93			—			83
Net change in cash, cash equivalents, and restricted cash	(468		)	—			388			—			(80		)
Cash, cash equivalents, and restricted cash at beginning of period	711			—			1,681			—			2,392
Cash, cash equivalents, and restricted cash at end of period	$	243		$	—		$	2,069		$	—		$	2,312

Nature of Operations and Basis of Presentation - Narrative (Details)
$ in Millions

1 Months Ended

3 Months Ended

9 Months Ended

Apr. 30, 2018

USD ($)

Sep. 30, 2018

USD ($)

Sep. 30, 2017

USD ($)

Sep. 30, 2018

USD ($)

Segment

Sep. 30, 2017

USD ($)

Jan. 01, 2018

USD ($)

Dec. 31, 2017

USD ($)

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]

Number of reportable segments | Segment

4

Disaggregation of Revenue [Line Items]

Retained income

$ 11,003

$ 10,025

Revenue from contract with customer, excluding assessed tax

1,546

$ 1,513

4,721

$ 4,475

Contract asset

43

$ 17

Revenue expected to be recognized as of March 31, 2018

1,200

Accounting Standards Update 2014-09 | Difference between Revenue Guidance in Effect before and after Topic 606

Disaggregation of Revenue [Line Items]

Retained income

$ 35

Revenue from contract with customer, excluding assessed tax

5

Accounts receivable, net

$ 1,319

Unearned revenue

1,400

Capitalized contract costs

82

Kensho

Disaggregation of Revenue [Line Items]

Consideration transferred to acquire business

^[1]

$ 550

Restricted cash

^[1]

$ 37

Intersegment Elimination

Disaggregation of Revenue [Line Items]

Revenue from contract with customer, excluding assessed tax

$ (32)

(28)

$ (92)

(81)

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-10-01

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]

Expected timing of satisfaction of remaining performance obligation

1 year

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-10-01

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]

Expected timing of satisfaction of remaining performance obligation

1 year

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]

Expected timing of satisfaction of remaining performance obligation

Non-transaction

Disaggregation of Revenue [Line Items]

Revenue from contract with customer, excluding assessed tax

$ 340

339

$ 1,037

980

Non-transaction | Intersegment Elimination

Disaggregation of Revenue [Line Items]

Revenue from contract with customer, excluding assessed tax

$ (32)

$ (28)

$ (92)

$ (81)

[1]	Excludes $112 million attributable to our redeemable noncontrolling interest.

Nature of Operations and Basis of Presentation - Revenue Disaggregated by Revenue Type (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	$ 1,546	$ 1,513	$ 4,721	$ 4,475
Corporate
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	5	0	10	0
Intersegment Elimination
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	(32)	(28)	(92)	(81)
Ratings \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	700	739	2,223	2,199
Market Intelligence \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	464	422	1,349	1,238
Platts \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	204	193	604	577
Indices \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	205	187	627	542
Subscription
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	685	619	1,981	1,816
Subscription \| Corporate
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	5	0	10	0
Subscription \| Intersegment Elimination
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0	0	0
Subscription \| Ratings \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0	0	0
Subscription \| Market Intelligence \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	451	406	1,306	1,189
Subscription \| Platts \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	188	177	556	523
Subscription \| Indices \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	41	36	109	104
Non-transaction
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	340	339	1,037	980
Non-transaction \| Corporate
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0	0	0
Non-transaction \| Intersegment Elimination
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	(32)	(28)	(92)	(81)
Non-transaction \| Ratings \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	372	367	1,129	1,061
Non-transaction \| Market Intelligence \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0	0	0
Non-transaction \| Platts \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0	0	0
Non-transaction \| Indices \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0	0	0
Non-subscription / Transaction
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	338	384	1,130	1,179
Non-subscription / Transaction \| Corporate
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0	0	0
Non-subscription / Transaction \| Intersegment Elimination
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0	0	0
Non-subscription / Transaction \| Ratings \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	328	372	1,094	1,138
Non-subscription / Transaction \| Market Intelligence \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	8	10	28	32
Non-subscription / Transaction \| Platts \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	2	2	8	9
Non-subscription / Transaction \| Indices \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0	0	0
Asset-linked fees
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	136	124	411	357
Asset-linked fees \| Corporate
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0	0	0
Asset-linked fees \| Intersegment Elimination
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0	0	0
Asset-linked fees \| Ratings \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0	0	0
Asset-linked fees \| Market Intelligence \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	5	6	15	17
Asset-linked fees \| Platts \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0	0	0
Asset-linked fees \| Indices \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	131	118	396	340
Sales usage-based royalties
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	47	47	162	143
Sales usage-based royalties \| Corporate
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0	0	0
Sales usage-based royalties \| Intersegment Elimination
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0	0	0
Sales usage-based royalties \| Ratings \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0	0	0
Sales usage-based royalties \| Market Intelligence \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0	0	0
Sales usage-based royalties \| Platts \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	14	14	40	45
Sales usage-based royalties \| Indices \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	33	33	122	98
Transferred at Point in Time
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	338	384	1,130	1,179
Transferred at Point in Time \| Corporate
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0	0	0
Transferred at Point in Time \| Intersegment Elimination
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0	0	0
Transferred at Point in Time \| Ratings \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	328	372	1,094	1,138
Transferred at Point in Time \| Market Intelligence \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	8	10	28	32
Transferred at Point in Time \| Platts \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	2	2	8	9
Transferred at Point in Time \| Indices \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0	0	0
Transferred over Time
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	1,208	1,129	3,591	3,296
Transferred over Time \| Corporate
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	5	0	10	0
Transferred over Time \| Intersegment Elimination
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	(32)	(28)	(92)	(81)
Transferred over Time \| Ratings \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	372	367	1,129	1,061
Transferred over Time \| Market Intelligence \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	456	412	1,321	1,206
Transferred over Time \| Platts \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	202	191	596	568
Transferred over Time \| Indices \| Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	$ 205	$ 187	$ 627	$ 542

Nature of Operations and Basis of Presentation - Components of Other (Income) Expense, Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other components of net periodic benefit cost	$ (8)	$ (8)	$ (25)	$ (25)
Other income, net	(6)	(9)	(22)	(26)
CARE Ratings Limited
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Investments	43		43		$ 54
Accounting Standards Update 2017-07
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other components of net periodic benefit cost	(8)	(9)	(24)	(26)
Net loss from investments	2	0	2	0
Other income, net	$ (6)	$ (9)	$ (22)	$ (26)

- Definition

This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee.

+ References + Details

Acquisitions and Divestitures - Narrative (Details) - USD ($) $ in Millions	1 Months Ended
	Apr. 30, 2018	Aug. 31, 2018	Jan. 31, 2018	Aug. 31, 2017	Jun. 30, 2017	Apr. 30, 2017
Schedule of Equity Method Investments And Cost-Method Investments [Line Items]
Assets held-for-sale						$ 5
FiscalNote
Schedule of Equity Method Investments And Cost-Method Investments [Line Items]
Cost method investment, ownership (as a percent)		5.03%
Kensho
Schedule of Equity Method Investments And Cost-Method Investments [Line Items]
Consideration transferred to acquire business	$ 550
Pragmatix
Schedule of Equity Method Investments And Cost-Method Investments [Line Items]
Equity method investment, ownership (as a percent)			100.00%
Algomi Limited
Schedule of Equity Method Investments And Cost-Method Investments [Line Items]
Cost method investment, ownership (as a percent)				6.02%
CARE Ratings Limited
Schedule of Equity Method Investments And Cost-Method Investments [Line Items]
Cost method investment, ownership (as a percent)					8.90%

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	20.40%	27.30%	21.90%	28.50%
Unrecognized tax benefits	$ 152		$ 152		$ 212
Accrued interest and penalties associated with unrecognized tax benefits	32		32		$ 59
Reduction of unrecognized tax benefits is reasonably possible	$ 40		$ 40

Debt - Narrative (Details)		9 Months Ended
Debt - Narrative (Details)	Jun. 30, 2017	Sep. 30, 2018 USD ($)	Jun. 01, 2018 USD ($)	May 17, 2018 USD ($)	Dec. 31, 2017 USD ($)	Sep. 30, 2017 USD ($)	Aug. 18, 2015 USD ($)
Debt Instrument [Line Items]
Long-term debt, fair value		$ 3,800,000,000			$ 3,800,000,000
Five-Year Credit Agreement \| Maximum
Debt Instrument [Line Items]
Indebtedness to cash flow (not greater than)		4
Five-Year Credit Agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity						$ 1,200,000,000.0
Credit facility, term (in years)	5 years
Commitment fee		0.125%
Five-Year Credit Agreement \| Revolving Credit Facility \| Minimum
Debt Instrument [Line Items]
Commitment fee		0.08%
Five-Year Credit Agreement \| Revolving Credit Facility \| Maximum
Debt Instrument [Line Items]
Commitment fee		0.175%
Five-Year Credit Agreement \| Commercial paper
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 1,200,000,000.0
Short-term debt		$ 0			$ 0
Senior Notes
Debt Instrument [Line Items]
Debt issued							$ 2,000,000,000.0
Senior Notes \| 4.5% Senior Notes, due 2048
Debt Instrument [Line Items]
Debt issued				$ 500,000,000
Stated interest rate (as a percent)		4.50%
Senior Notes \| 2.5% Senior Notes, due 2018
Debt Instrument [Line Items]
Debt issued			$ 400,000,000
Stated interest rate (as a percent)		2.50%

Debt - Summary (Details) - USD ($) $ in Millions	1 Months Ended
Debt - Summary (Details) - USD ($) $ in Millions	Jun. 30, 2018	Sep. 30, 2018	Dec. 31, 2017	Sep. 22, 2016	May 26, 2015
Debt Instrument [Line Items]
Total debt		$ 3,661	$ 3,569
Less: short-term debt including current maturities		0	399
Long-term debt		3,661	3,170
Senior Notes \| 2.5% Senior Notes, due 2018
Debt Instrument [Line Items]
Long-term debt		$ 0	399
Early repayment of senior debt	$ 400
Stated interest rate (as a percent)		2.50%
Senior Notes \| 3.3% Senior Notes, due 2020
Debt Instrument [Line Items]
Long-term debt		$ 698	697
Stated interest rate (as a percent)		3.30%
Unamortized debt discount and issuance costs		$ 2
Senior Notes \| 4.0% Senior Notes, due 2025
Debt Instrument [Line Items]
Long-term debt		$ 692	692
Stated interest rate (as a percent)		4.00%			4.00%
Unamortized debt discount and issuance costs		$ 8
Senior Notes \| 4.4% Senior Notes, due 2026
Debt Instrument [Line Items]
Long-term debt		$ 892	892
Stated interest rate (as a percent)		4.40%
Unamortized debt discount and issuance costs		$ 8
Senior Notes \| 2.95% Senior Notes, due 2027
Debt Instrument [Line Items]
Long-term debt		$ 493	493
Stated interest rate (as a percent)		2.95%		2.95%
Unamortized debt discount and issuance costs		$ 7
Senior Notes \| 6.55% Senior Notes, due 2037
Debt Instrument [Line Items]
Long-term debt		$ 396	396
Stated interest rate (as a percent)		6.55%
Unamortized debt discount and issuance costs		$ 4
Senior Notes \| 4.5% Senior Notes, due 2048
Debt Instrument [Line Items]
Long-term debt		$ 490	$ 0
Stated interest rate (as a percent)		4.50%
Unamortized debt discount and issuance costs		$ 10

Derivative Instruments - Narrative (Details) - Foreign exchange forward contracts - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018	Sep. 30, 2017
Fair Value Hedging \| Not Designated as Hedging Instrument
Derivative [Line Items]
Aggregate notional value	$ 85	$ 85
Net loss on derivative	3	15
Cash Flow Hedging \| Designated as Hedging Instrument
Derivative [Line Items]
Aggregate notional value	$ 199	$ 199	$ 133
Maturity of derivatives		12 months
Net gains (losses) related to derivatives recorded in other comprehensive income (loss) expected to be reclassified into earnings		$ (4)

Derivative Instruments - Location and Fair Values of Cash Flow Hedges (Details) - Cash Flow Hedging - Foreign exchange forward contracts - Designated as Hedging Instrument - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Prepaid and other current assets
Derivatives, Fair Value [Line Items]
Derivative, fair value	$ 1	$ 3
Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative, fair value	$ (7)	$ 0

Derivative Instruments - Location and Amounts of Pre-Tax Gains (Losses) on Cash Flow Hedges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss (effective portion)	$ (4)	$ (4)	$ (8)	$ (7)
Foreign exchange forward contracts \| Designated as Hedging Instrument \| Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss (effective portion)	(3)	3	(6)	2
Foreign exchange forward contracts \| Revenue, Selling and general expenses \| Designated as Hedging Instrument \| Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion)	$ (2)	$ 2	$ (3)	$ 6

Derivative Instruments - Change in Unrealized (Losses) Gains in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Net unrealized (losses) gains on cash flow hedges, net of taxes, beginning of period			$ 711
Change in fair value, net of tax	$ (3)	$ (5)	(6)	$ (8)
Net unrealized (losses) gains on cash flow hedges, net of taxes, end of period	905		905
Unrealized Gain (Loss) on Forward Exchange Contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Net unrealized (losses) gains on cash flow hedges, net of taxes, beginning of period	(1)	1	2	2
Change in fair value, net of tax	(5)	5	(9)	8
Reclassification into earnings, net of tax	2	(2)	3	(6)
Net unrealized (losses) gains on cash flow hedges, net of taxes, end of period	$ (4)	$ 4	$ (4)	$ 4

Employee Benefits - Narrative (Details) $ in Millions	9 Months Ended
Employee Benefits - Narrative (Details) $ in Millions	Sep. 30, 2018 USD ($)
Retirement Benefits [Abstract]
Contribution towards retirement plans	$ 7
Expected contributions towards retirement plans, remainder of the year	$ 2

Employee Benefits - Components of Net Periodic Benefit Cost (Credit) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Retirement Benefits [Abstract]
Service cost	$ 1	$ 1	$ 2	$ 2
Interest cost	18	19	54	56
Expected return on assets	(31)	(32)	(94)	(95)
Amortization of prior service credit / actuarial loss	4	4	13	12
Net periodic benefit cost	$ (8)	$ (8)	$ (25)	$ (25)

Stock-Based Compensation - Narrative (Details) $ / shares in Units, shares in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2018 USD ($) $ / shares shares
Employee stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock granted in period (shares) \| shares	0.2
Weighted-average grant date fair value of stock granted in period (USD per share) \| $ / shares	$ 128.46
Unrecognized compensation expense \| $	$ 3
Unrecognized compensation expense, period for recognition	2 years 3 months 1 day
Restricted stock and unit awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock granted in period (shares) \| shares	0.7
Weighted-average grant date fair value of stock granted in period (USD per share) \| $ / shares	$ 170.44
Unrecognized compensation expense \| $	$ 99
Unrecognized compensation expense, period for recognition	2 years 1 month

Stock-Based Compensation - Summary (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 27	$ 24	$ 73	$ 65
Employee stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	1	1	3	2
Restricted stock and unit awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 26	$ 23	$ 70	$ 63

Equity - Narrative (Details) - USD ($)			3 Months Ended		9 Months Ended
Equity - Narrative (Details) - USD ($)	Sep. 25, 2018	Mar. 06, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 04, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares purchased			700,000	2,800,000	5,700,000	5,400,000
Average price paid per share (USD per share)			$ 205.11	$ 0.00	$ 180.94	$ 133.01
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
2013 Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized for repurchase (shares)							50,000,000
Shares authorized for repurchase, compared to total common stock outstanding (as a percent)							18.00%
Remaining shares available under repurchase program (shares)			13,300,000		13,300,000
S&P Dow Jones LLC
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Noncontrolling interest ownership by noncontrolling owners (as a percent)			27.00%		27.00%
Accelerated Share Repurchases, March 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized stock repurchase program amount		$ 1,000,000,000
Payments for accelerated share repurchases		$ 1,000,000,000
Initial Award \| Accelerated Share Repurchases, March 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares purchased		4,500,000
Accelerated share repurchases initial delivery percentage (as a percent)		85.00%
Additional Award \| Accelerated Share Repurchases, March 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares purchased	600,000
Completed Award \| Accelerated Share Repurchases, March 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares purchased	5,100,000
Average price paid per share (USD per share)	$ 197.49

Equity - Share Repurchases (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares purchased	0.7	2.8	5.7	5.4
Average price paid per share (USD per share)	$ 205.11	$ 0.00	$ 180.94	$ 133.01
Total cash utilized			$ 1,113
Payments for Repurchase of Common Stock	$ 6		1,108	$ 846
Total SPGI Equity
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total cash utilized	$ 13	$ 500	$ 1,113	$ 846

Equity - Changes to Redeemable Noncontrolling Interest (Details) $ in Millions	9 Months Ended
	Sep. 30, 2018 USD ($)
Increase (Decrease) in Temporary Equity [Roll Forward]
Balance at beginning of period	$ 1,350
Net income attributable to noncontrolling interest	112
Distributions payable to noncontrolling interest	(93)
Redemption value adjustment	116
Balance at end of period	$ 1,485

Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Net unrealized (losses) gains on cash flow hedges, net of taxes, beginning of period			$ 711
Other comprehensive income before reclassifications			(77)
Reclassifications from accumulated other comprehensive loss to net earnings			13
Net other comprehensive income			(64)
Net unrealized (losses) gains on cash flow hedges, net of taxes, end of period	$ 905		905
Pension and other postretirement benefit plans, tax	1	$ 1	(2)	$ 0
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Net unrealized (losses) gains on cash flow hedges, net of taxes, beginning of period			(649)
Net unrealized (losses) gains on cash flow hedges, net of taxes, end of period	(703)		(703)
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Net unrealized (losses) gains on cash flow hedges, net of taxes, beginning of period			(239)
Other comprehensive income before reclassifications			(54)
Reclassifications from accumulated other comprehensive loss to net earnings			0
Net other comprehensive income			(54)
Net unrealized (losses) gains on cash flow hedges, net of taxes, end of period	(293)		(293)
Pension and Postretirement Benefit Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Net unrealized (losses) gains on cash flow hedges, net of taxes, beginning of period			(402)
Other comprehensive income before reclassifications			(14)
Reclassifications from accumulated other comprehensive loss to net earnings			10
Net other comprehensive income			(4)
Net unrealized (losses) gains on cash flow hedges, net of taxes, end of period	(406)		(406)
Pension and other postretirement benefit plans, tax			2
Unrealized Gain (Loss) on Forward Exchange Contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Net unrealized (losses) gains on cash flow hedges, net of taxes, beginning of period	(1)	1	2	2
Other comprehensive income before reclassifications			(9)
Reclassifications from accumulated other comprehensive loss to net earnings			3
Net other comprehensive income			(6)
Net unrealized (losses) gains on cash flow hedges, net of taxes, end of period	(4)	$ 4	(4)	$ 4
Unrealized Gain (Loss) on Investments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Net unrealized (losses) gains on cash flow hedges, net of taxes, beginning of period			(10)
Other comprehensive income before reclassifications			0
Reclassifications from accumulated other comprehensive loss to net earnings			0
Net other comprehensive income			0
Net unrealized (losses) gains on cash flow hedges, net of taxes, end of period	0		0
Accounting Standards Update 2016-01
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Amounts reclassified to retained income	10		10
Accounting Standards Update 2016-01 \| Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Amounts reclassified to retained income	0		0
Accounting Standards Update 2016-01 \| Pension and Postretirement Benefit Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Amounts reclassified to retained income	0		0
Accounting Standards Update 2016-01 \| Unrealized Gain (Loss) on Forward Exchange Contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Amounts reclassified to retained income	0		0
Accounting Standards Update 2016-01 \| Unrealized Gain (Loss) on Investments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Amounts reclassified to retained income	$ 10		$ 10

Earnings Per Share - Narrative (Details) - shares	3 Months Ended		9 Months Ended
Earnings Per Share - Narrative (Details) - shares	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Employee stock option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding stock not included in the computation of diluted earnings per share (shares)	0	0	0	0
Restricted performance shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding stock not included in the computation of diluted earnings per share (shares)			800,000	900,000

Earnings Per Share - Summary (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Amounts attributable to S&P Global Inc. common shareholders:
Net income	$ 495	$ 414	$ 1,447	$ 1,234
Basic weighted-average number of common shares outstanding	251.3	255.5	251.6	257.0
Effect of stock options and other dilutive securities	2.2	2.4	2.1	2.5
Diluted weighted-average number of common shares outstanding	253.5	257.9	253.7	259.5
Earnings per share attributable to S&P Global Inc. common shareholders:
Basic (USD per share)	$ 1.97	$ 1.62	$ 5.75	$ 4.80
Diluted (USD per share)	$ 1.95	$ 1.61	$ 5.70	$ 4.75

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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-Name Accounting Standards Codification
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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Restructuring - Summary (Details) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
Restructuring - Summary (Details) $ in Millions	Sep. 30, 2018 USD ($)	Sep. 30, 2017 USD ($)	Sep. 30, 2018 USD ($) position	Sep. 30, 2017 USD ($)	Dec. 31, 2017 USD ($) position
2018 Restructuring Plans
Restructuring Cost and Reserve [Line Items]
Workforce reduction \| position			70
Initial Charge Recorded			$ 9
Ending Reserve Balance	$ 9		9
2017 Restructuring Plans
Restructuring Cost and Reserve [Line Items]
Workforce reduction \| position					520
Initial Charge Recorded			44
Ending Reserve Balance	15		15		$ 39
Restructuring charges paid			24
Operating Segments \| 2018 Restructuring Plans \| Ratings
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			0
Ending Reserve Balance	0		0
Operating Segments \| 2018 Restructuring Plans \| Market Intelligence
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			2
Ending Reserve Balance	2		2
Operating Segments \| 2018 Restructuring Plans \| Platts
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			0
Ending Reserve Balance	0		0
Operating Segments \| 2018 Restructuring Plans \| Indices
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			0
Ending Reserve Balance	0		0
Operating Segments \| 2017 Restructuring Plans \| Ratings
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			25
Ending Reserve Balance	10		10
Operating Segments \| 2017 Restructuring Plans \| Market Intelligence
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			8
Ending Reserve Balance	2		2
Operating Segments \| 2017 Restructuring Plans \| Platts
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			1
Ending Reserve Balance	0		0
Operating Segments \| 2017 Restructuring Plans \| Indices
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			0
Ending Reserve Balance	0		0
Corporate
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	7	$ 4	7	$ 4
Corporate \| 2018 Restructuring Plans
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			7
Ending Reserve Balance	7		7
Corporate \| 2017 Restructuring Plans
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			10
Ending Reserve Balance	$ 3		$ 3

Segment and Related Information - Narrative (Details)
$ in Millions

1 Months Ended

9 Months Ended

Apr. 30, 2018

USD ($)

Sep. 30, 2018

Segment

Business Acquisition [Line Items]

Number of reportable segments | Segment

4

Kensho

Business Acquisition [Line Items]

Consideration transferred to acquire business | $

^[1]

$ 550

[1]	Excludes $112 million attributable to our redeemable noncontrolling interest.

Segment and Related Information - Operating Results by Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Segment Reporting Information [Line Items]
Revenue	$ 1,546	$ 1,513	$ 4,721	$ 4,475
Operating Profit	704	649	2,086	1,956
Amortization of intangibles	33	24	91	73
Ratings
Segment Reporting Information [Line Items]
Legal settlement			73	2
Employee severance charges		15		15
Amortization of intangibles	1	1	2	3
Market Intelligence
Segment Reporting Information [Line Items]
Employee severance charges			2	4
Amortization of intangibles	18	17	54	52
Business disposition and employee severance charges	2
Non-cash acquisition and retention related adjustments				4
Platts
Segment Reporting Information [Line Items]
Employee severance charges				1
Amortization of intangibles	4	5	13	13
Non-cash acquisition and retention related adjustments				11
Business exit costs				6
Asset impairment charges				2
Indices
Segment Reporting Information [Line Items]
Amortization of intangibles	2	1	5	4
Operating Segments
Segment Reporting Information [Line Items]
Operating Profit	775	701	2,262	2,080
Operating Segments \| Ratings
Segment Reporting Information [Line Items]
Revenue	700	739	2,223	2,199
Operating Profit	395	375	1,173	1,144
Operating Segments \| Market Intelligence
Segment Reporting Information [Line Items]
Revenue	464	422	1,349	1,238
Operating Profit	148	123	388	339
Operating Segments \| Platts
Segment Reporting Information [Line Items]
Revenue	204	193	604	577
Operating Profit	98	84	285	245
Operating Segments \| Indices
Segment Reporting Information [Line Items]
Revenue	205	187	627	542
Operating Profit	134	119	416	352
Corporate
Segment Reporting Information [Line Items]
Revenue	5	0	10	0
Operating Profit	(71)	(52)	(176)	(124)
Amortization of intangibles	8		17
Non-cash acquisition and retention related adjustments	11		23
Asset impairment charges	11		11
Restructuring charges	7	4	7	4
Intersegment Elimination
Segment Reporting Information [Line Items]
Revenue	$ (32)	$ (28)	$ (92)	$ (81)

Segment and Related Information - Revenue by Geographic Region (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 1,546	$ 1,513	$ 4,721	$ 4,475
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	932	914	2,843	2,726
European region
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	380	361	1,164	1,068
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	160	157	475	432
Rest of the world
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 74	$ 81	$ 239	$ 249

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Loss Contingencies [Line Items]
Contribution to noncontrolling interest			$ 116	$ 69
Affiliated Entity
Loss Contingencies [Line Items]
Contribution to noncontrolling interest			20
CME Group \| S&P DJ Indices
Loss Contingencies [Line Items]
Revenues earned under license agreement	$ 28	$ 18	$ 82	$ 56
Noncontrolling interest ownership by noncontrolling owners (as a percent)	27.00%		27.00%

Recently Issued or Adopted Accounting Standards - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings (accumulated deficit)	$ 11,003		$ 10,025
Accumulated other comprehensive income (loss)	$ (703)		$ (649)
Accounting Standards Update 2018-03
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings (accumulated deficit)		$ (10)
Accumulated other comprehensive income (loss)		$ 10

Condensed Consolidating Financial Statements - Narrative (Details) - USD ($)	Sep. 30, 2018	May 17, 2018	Sep. 22, 2016	Aug. 18, 2015	May 26, 2015
Condensed Financial Statements, Captions [Line Items]
Ownership interest of subsidiary (as a percent)	100.00%
Senior Notes
Condensed Financial Statements, Captions [Line Items]
Debt issued				$ 2,000,000,000.0
Senior Notes \| 4.5% Senior Notes, due 2048
Condensed Financial Statements, Captions [Line Items]
Debt issued		$ 500,000,000
Stated interest rate (as a percent)	4.50%
Senior Notes \| 2.95% Senior Notes due in 2027
Condensed Financial Statements, Captions [Line Items]
Debt issued			$ 500,000,000
Stated interest rate (as a percent)	2.95%		2.95%
Senior Notes \| 4.0% Senior Notes due in 2025
Condensed Financial Statements, Captions [Line Items]
Debt issued					$ 700,000,000
Stated interest rate (as a percent)	4.00%				4.00%
Senior Notes \| 2.5% Senior Notes due in 2018
Condensed Financial Statements, Captions [Line Items]
Debt issued				$ 400,000,000
Stated interest rate (as a percent)				2.50%
Senior Notes \| 3.3% Senior Notes due in 2020
Condensed Financial Statements, Captions [Line Items]
Debt issued				$ 700,000,000
Stated interest rate (as a percent)				3.30%
Senior Notes \| 4.4% Senior Notes due in 2026
Condensed Financial Statements, Captions [Line Items]
Debt issued				$ 900,000,000
Stated interest rate (as a percent)				4.40%

Condensed Consolidating Financial Statements - Statement of Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Condensed Income Statements, Captions [Line Items]
Revenue	$ 1,546	$ 1,513	$ 4,721	$ 4,475
Expenses:
Operating-related expenses	406	419	1,290	1,262
Selling and general expenses	383	399	1,194	1,123
Depreciation	20	22	60	61
Amortization of intangibles	33	24	91	73
Total expenses	842	864	2,635	2,519
Operating profit	704	649	2,086	1,956
Other income, net	(6)	(9)	(22)	(26)
Interest expense (income), net	38	37	98	110
Non-operating intercompany transactions	0	0	0	0
Income before taxes on income	672	621	2,010	1,872
(Benefit) provision for taxes on income	137	169	440	533
Equity in net income of subsidiaries	0	0	0	0
Net income	535	452	1,570	1,339
Less: net income attributable to noncontrolling interests	(40)	(38)	(123)	(105)
Net income attributable to S&P Global Inc.	495	414	1,447	1,234
Comprehensive income	537	473	1,506	1,434
Eliminations
Condensed Income Statements, Captions [Line Items]
Revenue	(39)	(35)	(113)	(102)
Expenses:
Operating-related expenses	(39)	(35)	(113)	(102)
Selling and general expenses	0	0	0	0
Depreciation	0	0	0	0
Amortization of intangibles	0	0	0	0
Total expenses	(39)	(35)	(113)	(102)
Operating profit	0	0	0	0
Other income, net	0	0	0	0
Interest expense (income), net	0	0	0	0
Non-operating intercompany transactions	4	13	1,315	1,502
Income before taxes on income	(4)	(13)	(1,315)	(1,502)
(Benefit) provision for taxes on income	0	0	0	0
Equity in net income of subsidiaries	(440)	(409)	(2,804)	(2,697)
Net income	(444)	(422)	(4,119)	(4,199)
Less: net income attributable to noncontrolling interests	(40)	(38)	(123)	(105)
Net income attributable to S&P Global Inc.	(484)	(460)	(4,242)	(4,304)
Comprehensive income	(441)	(427)	(4,118)	(4,199)
S&P Global Inc. \| Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenue	196	184	587	545
Expenses:
Operating-related expenses	26	6	108	58
Selling and general expenses	42	70	149	146
Depreciation	9	9	24	23
Amortization of intangibles	0	0	0	0
Total expenses	77	85	281	227
Operating profit	119	99	306	318
Other income, net	(5)	(6)	(21)	(18)
Interest expense (income), net	39	41	105	119
Non-operating intercompany transactions	90	91	277	270
Income before taxes on income	(5)	(27)	(55)	(53)
(Benefit) provision for taxes on income	(65)	(45)	(52)	(91)
Equity in net income of subsidiaries	440	409	2,804	2,697
Net income	500	427	2,801	2,735
Less: net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to S&P Global Inc.	500	427	2,801	2,735
Comprehensive income	490	405	2,781	2,724
Standard & Poor's Financial Services LLC \| Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenue	422	435	1,318	1,320
Expenses:
Operating-related expenses	110	124	333	359
Selling and general expenses	79	101	222	273
Depreciation	2	3	6	9
Amortization of intangibles	0	0	0	0
Total expenses	191	228	561	641
Operating profit	231	207	757	679
Other income, net	0	0	0	0
Interest expense (income), net	1	0	2	0
Non-operating intercompany transactions	(11)	(13)	(54)	(55)
Income before taxes on income	241	220	809	734
(Benefit) provision for taxes on income	94	107	240	325
Equity in net income of subsidiaries	0	0	0	0
Net income	147	113	569	409
Less: net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to S&P Global Inc.	147	113	569	409
Comprehensive income	147	113	569	409
Non-Guarantor Subsidiaries \| Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenue	967	929	2,929	2,712
Expenses:
Operating-related expenses	309	324	962	947
Selling and general expenses	262	228	823	704
Depreciation	9	10	30	29
Amortization of intangibles	33	24	91	73
Total expenses	613	586	1,906	1,753
Operating profit	354	343	1,023	959
Other income, net	(1)	(3)	(1)	(8)
Interest expense (income), net	(2)	(4)	(9)	(9)
Non-operating intercompany transactions	(83)	(91)	(1,538)	(1,717)
Income before taxes on income	440	441	2,571	2,693
(Benefit) provision for taxes on income	108	107	252	299
Equity in net income of subsidiaries	0	0	0	0
Net income	332	334	2,319	2,394
Less: net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to S&P Global Inc.	332	334	2,319	2,394
Comprehensive income	$ 341	$ 382	$ 2,274	$ 2,500

Condensed Consolidating Financial Statements - Balance Sheet (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 2,158	$ 2,777
Restricted cash	45	2
Accounts receivable, net of allowance for doubtful accounts	1,237	1,319
Intercompany receivable	0	0
Prepaid and other current assets	188	226
Total current assets	3,628	4,324
Property and equipment, net of accumulated depreciation	275	275
Goodwill	3,544	2,989
Other intangible assets, net	1,420	1,388
Investments in subsidiaries	0	0
Intercompany loans receivable	0	0
Other non-current assets	516	449
Total assets	9,383	9,425
Current liabilities:
Accounts payable	194	195
Intercompany payable	0	0
Accrued compensation and contributions to retirement plans	307	472
Short-term debt	0	399
Income taxes currently payable	92	77
Unearned revenue	1,576	1,613
Accrued legal settlements	0	107
Other current liabilities	348	351
Total current liabilities	2,517	3,214
Long-term debt	3,661	3,170
Intercompany loans payable	0	0
Pension and other postretirement benefits	225	244
Other non-current liabilities	537	679
Total liabilities	6,940	7,307
Redeemable noncontrolling interest	1,485	1,350
Equity:
Common stock	412	412
Additional paid-in capital	897	525
Retained income	11,003	10,025
Accumulated other comprehensive loss	(703)	(649)
Less: common stock in treasury	(10,704)	(9,602)
Total equity — controlling interests	905	711
Total equity - noncontrolling interests	53	57
Total equity	958	768
Total liabilities and equity	9,383	9,425
Eliminations
Current assets:
Cash and cash equivalents	0	0
Restricted cash	0	0
Accounts receivable, net of allowance for doubtful accounts	0	0
Intercompany receivable	(5,315)	(5,079)
Prepaid and other current assets	0	0
Total current assets	(5,315)	(5,079)
Property and equipment, net of accumulated depreciation	0	0
Goodwill	9	9
Other intangible assets, net	0	0
Investments in subsidiaries	(15,974)	(16,397)
Intercompany loans receivable	(1,895)	(1,815)
Other non-current assets	0	(1)
Total assets	(23,175)	(23,283)
Current liabilities:
Accounts payable	0	0
Intercompany payable	(5,315)	(5,079)
Accrued compensation and contributions to retirement plans	0	0
Short-term debt		0
Income taxes currently payable	0	0
Unearned revenue	0	0
Accrued legal settlements		0
Other current liabilities	0	0
Total current liabilities	(5,315)	(5,079)
Long-term debt	0	0
Intercompany loans payable	(1,895)	(1,816)
Pension and other postretirement benefits	0	0
Other non-current liabilities	0	0
Total liabilities	(7,210)	(6,895)
Redeemable noncontrolling interest	1,485	1,350
Equity:
Common stock	(2,275)	(2,318)
Additional paid-in capital	(10,095)	(9,117)
Retained income	(5,194)	(6,429)
Accumulated other comprehensive loss	48	46
Less: common stock in treasury	14	23
Total equity — controlling interests	(17,502)	(17,795)
Total equity - noncontrolling interests	52	57
Total equity	(17,450)	(17,738)
Total liabilities and equity	(23,175)	(23,283)
S&P Global Inc. \| Reportable Legal Entities
Current assets:
Cash and cash equivalents	891	632
Restricted cash	0	0
Accounts receivable, net of allowance for doubtful accounts	128	138
Intercompany receivable	567	768
Prepaid and other current assets	86	143
Total current assets	1,672	1,681
Property and equipment, net of accumulated depreciation	192	158
Goodwill	261	261
Other intangible assets, net	0	0
Investments in subsidiaries	7,971	8,364
Intercompany loans receivable	124	116
Other non-current assets	226	215
Total assets	10,446	10,795
Current liabilities:
Accounts payable	81	79
Intercompany payable	4,168	3,433
Accrued compensation and contributions to retirement plans	112	145
Short-term debt		399
Income taxes currently payable	9	2
Unearned revenue	272	293
Accrued legal settlements		0
Other current liabilities	192	136
Total current liabilities	4,834	4,487
Long-term debt	3,661	3,170
Intercompany loans payable	109	101
Pension and other postretirement benefits	176	180
Other non-current liabilities	210	376
Total liabilities	8,990	8,314
Redeemable noncontrolling interest	0	0
Equity:
Common stock	412	412
Additional paid-in capital	155	(216)
Retained income	11,882	12,156
Accumulated other comprehensive loss	(290)	(269)
Less: common stock in treasury	(10,703)	(9,602)
Total equity — controlling interests	1,456	2,481
Total equity - noncontrolling interests	0	0
Total equity	1,456	2,481
Total liabilities and equity	10,446	10,795
Standard & Poor's Financial Services LLC \| Reportable Legal Entities
Current assets:
Cash and cash equivalents	0	0
Restricted cash	0	0
Accounts receivable, net of allowance for doubtful accounts	166	152
Intercompany receivable	1,929	1,784
Prepaid and other current assets	(3)	(3)
Total current assets	2,092	1,933
Property and equipment, net of accumulated depreciation	0	10
Goodwill	0	0
Other intangible assets, net	0	0
Investments in subsidiaries	6	5
Intercompany loans receivable	0	0
Other non-current assets	44	61
Total assets	2,142	2,009
Current liabilities:
Accounts payable	18	23
Intercompany payable	55	492
Accrued compensation and contributions to retirement plans	35	86
Short-term debt		0
Income taxes currently payable	0	0
Unearned revenue	242	193
Accrued legal settlements		2
Other current liabilities	12	21
Total current liabilities	362	817
Long-term debt	0	0
Intercompany loans payable	0	0
Pension and other postretirement benefits	0	0
Other non-current liabilities	60	74
Total liabilities	422	891
Redeemable noncontrolling interest	0	0
Equity:
Common stock	0	0
Additional paid-in capital	614	602
Retained income	1,106	516
Accumulated other comprehensive loss	0	0
Less: common stock in treasury	0	0
Total equity — controlling interests	1,720	1,118
Total equity - noncontrolling interests	0	0
Total equity	1,720	1,118
Total liabilities and equity	2,142	2,009
Non-Guarantor Subsidiaries \| Reportable Legal Entities
Current assets:
Cash and cash equivalents	1,267	2,145
Restricted cash	45	2
Accounts receivable, net of allowance for doubtful accounts	943	1,029
Intercompany receivable	2,819	2,527
Prepaid and other current assets	105	86
Total current assets	5,179	5,789
Property and equipment, net of accumulated depreciation	83	107
Goodwill	3,274	2,719
Other intangible assets, net	1,420	1,388
Investments in subsidiaries	7,997	8,028
Intercompany loans receivable	1,771	1,699
Other non-current assets	246	174
Total assets	19,970	19,904
Current liabilities:
Accounts payable	95	93
Intercompany payable	1,092	1,154
Accrued compensation and contributions to retirement plans	160	241
Short-term debt		0
Income taxes currently payable	83	75
Unearned revenue	1,062	1,127
Accrued legal settlements		105
Other current liabilities	144	194
Total current liabilities	2,636	2,989
Long-term debt	0	0
Intercompany loans payable	1,786	1,715
Pension and other postretirement benefits	49	64
Other non-current liabilities	267	229
Total liabilities	4,738	4,997
Redeemable noncontrolling interest	0	0
Equity:
Common stock	2,275	2,318
Additional paid-in capital	10,223	9,256
Retained income	3,209	3,782
Accumulated other comprehensive loss	(461)	(426)
Less: common stock in treasury	(15)	(23)
Total equity — controlling interests	15,231	14,907
Total equity - noncontrolling interests	1	0
Total equity	15,232	14,907
Total liabilities and equity	$ 19,970	$ 19,904

Condensed Consolidating Financial Statements - Statement of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Operating Activities:
Net income	$ 535	$ 452	$ 1,570	$ 1,339
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation			60	61
Amortization of intangibles			91	73
Provision for losses on accounts receivable			16	17
Stock-based compensation			73	65
Other			41	42
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable			62	(64)
Prepaid and other current assets			1	3
Accounts payable and accrued expenses			(167)	(50)
Unearned revenue			(72)	(107)
Accrued legal settlements			(180)	(4)
Other current liabilities			(18)	(94)
Net change in prepaid/accrued income taxes			62	(42)
Net change in other assets and liabilities			(138)	(36)
Cash provided by operating activities			1,401	1,203
Investing Activities:
Capital expenditures			(88)	(77)
Acquisitions, net of cash acquired			(263)	(80)
Proceeds from dispositions			0	2
Changes in short-term investments			5	0
Cash used for investing activities			(346)	(155)
Financing Activities:
Proceeds from issuance of senior notes, net			489	0
Payments on senior notes			(403)	0
Dividends paid to shareholders			(379)	(316)
Distributions to noncontrolling interest holders			(116)	(69)
Purchase of CRISIL shares			(25)	0
Repurchase of treasury shares	(6)		(1,108)	(846)
Exercise of stock options			24	69
Employee withholding tax on share-based payments			(61)	(49)
Intercompany financing activities			0	0
Cash used for financing activities			(1,579)	(1,211)
Effect of exchange rate changes on cash from continuing operations			(52)	83
Net change in cash, cash equivalents, and restricted cash			(576)	(80)
Cash, cash equivalents, and restricted cash at beginning of period			2,779	2,392
Cash, cash equivalents, and restricted cash at end of period	2,203	2,312	2,203	2,312
Eliminations
Operating Activities:
Net income	(444)	(422)	(4,119)	(4,199)
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation			0	0
Amortization of intangibles			0	0
Provision for losses on accounts receivable			0	0
Stock-based compensation			0	0
Other				0
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable				0
Prepaid and other current assets			0	0
Accounts payable and accrued expenses				0
Unearned revenue				0
Accrued legal settlements			0	0
Other current liabilities				0
Net change in prepaid/accrued income taxes			0	0
Net change in other assets and liabilities				0
Cash provided by operating activities			(4,119)	(4,199)
Investing Activities:
Capital expenditures			0	0
Acquisitions, net of cash acquired			0	0
Proceeds from dispositions				0
Changes in short-term investments			0
Cash used for investing activities			0	0
Financing Activities:
Proceeds from issuance of senior notes, net			0
Payments on senior notes			0
Dividends paid to shareholders			0	0
Distributions to noncontrolling interest holders			0	0
Purchase of CRISIL shares			0
Repurchase of treasury shares			0	0
Exercise of stock options			0	0
Employee withholding tax on share-based payments			0	0
Intercompany financing activities			4,119	4,199
Cash used for financing activities			4,119	4,199
Effect of exchange rate changes on cash from continuing operations			0	0
Net change in cash, cash equivalents, and restricted cash			0	0
Cash, cash equivalents, and restricted cash at beginning of period			0	0
Cash, cash equivalents, and restricted cash at end of period	0	0	0	0
S&P Global Inc.
Investing Activities:
Changes in short-term investments			0
S&P Global Inc. \| Reportable Legal Entities
Operating Activities:
Net income	500	427	2,801	2,735
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation			24	24
Amortization of intangibles			0	0
Provision for losses on accounts receivable			1	1
Stock-based compensation			21	23
Other			33	27
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable			10	(2)
Prepaid and other current assets			(11)	(8)
Accounts payable and accrued expenses			(31)	(19)
Unearned revenue			(20)	14
Accrued legal settlements			0	0
Other current liabilities			(15)	(42)
Net change in prepaid/accrued income taxes			51	(27)
Net change in other assets and liabilities			(123)	(42)
Cash provided by operating activities			2,741	2,684
Investing Activities:
Capital expenditures			(63)	(34)
Acquisitions, net of cash acquired			0	0
Proceeds from dispositions				0
Cash used for investing activities			(63)	(34)
Financing Activities:
Proceeds from issuance of senior notes, net			489
Payments on senior notes			(403)
Dividends paid to shareholders			(379)	(316)
Distributions to noncontrolling interest holders			0	0
Purchase of CRISIL shares			0
Repurchase of treasury shares			(1,108)	(846)
Exercise of stock options			18	63
Employee withholding tax on share-based payments			(61)	(49)
Intercompany financing activities			(961)	(1,960)
Cash used for financing activities			(2,405)	(3,108)
Effect of exchange rate changes on cash from continuing operations			(14)	(10)
Net change in cash, cash equivalents, and restricted cash			259	(468)
Cash, cash equivalents, and restricted cash at beginning of period			632	711
Cash, cash equivalents, and restricted cash at end of period	891	243	891	243
Standard & Poor's Financial Services LLC
Investing Activities:
Changes in short-term investments			0
Standard & Poor's Financial Services LLC \| Reportable Legal Entities
Operating Activities:
Net income	147	113	569	409
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation			6	9
Amortization of intangibles			0	0
Provision for losses on accounts receivable			1	2
Stock-based compensation			12	15
Other			0	15
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable			(15)	(73)
Prepaid and other current assets			1	2
Accounts payable and accrued expenses			(58)	56
Unearned revenue			23	17
Accrued legal settlements			0	(1)
Other current liabilities			(8)	(11)
Net change in prepaid/accrued income taxes			2	(18)
Net change in other assets and liabilities			23	(5)
Cash provided by operating activities			556	417
Investing Activities:
Capital expenditures			(14)	(17)
Acquisitions, net of cash acquired			0	0
Proceeds from dispositions				0
Cash used for investing activities			(14)	(17)
Financing Activities:
Proceeds from issuance of senior notes, net			0
Payments on senior notes			0
Dividends paid to shareholders			0	0
Distributions to noncontrolling interest holders			0	0
Purchase of CRISIL shares			0
Repurchase of treasury shares			0	0
Exercise of stock options			0	0
Employee withholding tax on share-based payments			0	0
Intercompany financing activities			(542)	(400)
Cash used for financing activities			(542)	(400)
Effect of exchange rate changes on cash from continuing operations			0	0
Net change in cash, cash equivalents, and restricted cash			0	0
Cash, cash equivalents, and restricted cash at beginning of period			0	0
Cash, cash equivalents, and restricted cash at end of period	0	0	0	0
Non-Guarantor Subsidiaries
Investing Activities:
Changes in short-term investments			5
Non-Guarantor Subsidiaries \| Reportable Legal Entities
Operating Activities:
Net income	332	334	2,319	2,394
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation			30	28
Amortization of intangibles			91	73
Provision for losses on accounts receivable			14	14
Stock-based compensation			40	27
Other			8	0
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable			67	11
Prepaid and other current assets			11	9
Accounts payable and accrued expenses			(78)	(87)
Unearned revenue			(75)	(138)
Accrued legal settlements			(180)	(3)
Other current liabilities			5	(41)
Net change in prepaid/accrued income taxes			9	3
Net change in other assets and liabilities			(38)	11
Cash provided by operating activities			2,223	2,301
Investing Activities:
Capital expenditures			(11)	(26)
Acquisitions, net of cash acquired			(263)	(80)
Proceeds from dispositions				2
Cash used for investing activities			(269)	(104)
Financing Activities:
Proceeds from issuance of senior notes, net			0
Payments on senior notes			0
Dividends paid to shareholders			0	0
Distributions to noncontrolling interest holders			(116)	(69)
Purchase of CRISIL shares			(25)
Repurchase of treasury shares			0	0
Exercise of stock options			6	6
Employee withholding tax on share-based payments			0	0
Intercompany financing activities			(2,616)	(1,839)
Cash used for financing activities			(2,751)	(1,902)
Effect of exchange rate changes on cash from continuing operations			(38)	93
Net change in cash, cash equivalents, and restricted cash			(835)	388
Cash, cash equivalents, and restricted cash at beginning of period			2,147	1,681
Cash, cash equivalents, and restricted cash at end of period	$ 1,312	$ 2,069	$ 1,312	$ 2,069