MSCI (MSCI) 10-Q 25 Apr 23 2023 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2023	Apr. 18, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-33812
Entity Registrant Name	MSCI INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-4038723
Entity Address, Address Line One	7 World Trade Center
Entity Address, Address Line Two	250 Greenwich Street, 49th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10007
City Area Code	212
Local Phone Number	804-3900
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	MSCI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		80,063,402
Entity Central Index Key	0001408198
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents (includes restricted cash of $3,871 and $368 at March 31, 2023 and December 31, 2022, respectively)	$ 1,080,608	$ 993,564
Accounts receivable, net of allowances	641,584	663,236
Prepaid income taxes	33,487	36,654
Prepaid and other assets	54,888	54,520
Total current assets	1,810,567	1,747,974
Property, equipment and leasehold improvements, net	58,839	53,853
Right of use assets	125,596	126,584
Goodwill	2,231,037	2,229,670
Intangible assets, net	551,012	558,517
Equity method investment	211,924	214,389
Deferred tax assets	28,857	29,207
Other non-current assets	40,868	37,341
Total assets	5,058,700	4,997,535
Current liabilities:
Accounts payable	10,746	15,039
Income taxes payable	27,481	8,058
Accrued compensation and related benefits	75,553	182,370
Current portion of long-term debt	8,715	8,713
Other accrued liabilities	165,840	153,461
Deferred revenue	920,255	882,886
Total current liabilities	1,208,590	1,250,527
Long-term debt	4,502,176	4,503,233
Long-term operating lease liabilities	130,571	131,575
Deferred tax liabilities	27,433	29,098
Other non-current liabilities	91,294	91,027
Total liabilities	5,960,064	6,005,460
Commitments and Contingencies (see Note 7)
Shareholders’ equity (deficit):
Preferred stock (par value $0.01, 100,000,000 shares authorized; no shares issued)	0	0
Common stock (par value $0.01; 750,000,000 common shares authorized; 133,804,962 and 133,623,005 common shares issued and 80,063,044 and 79,959,989 common shares outstanding at March 31, 2023 and December 31, 2022, respectively)	1,338	1,336
Treasury shares, at cost (53,741,918 and 53,663,016 common shares held at March 31, 2023 and December 31, 2022, respectively)	(5,982,106)	(5,938,116)
Additional paid in capital	1,536,906	1,515,874
Retained earnings	3,599,934	3,473,192
Accumulated other comprehensive loss	(57,436)	(60,211)
Total shareholders’ equity (deficit)	(901,364)	(1,007,925)
Total liabilities and shareholders’ equity (deficit)	$ 5,058,700	$ 4,997,535
Preferred stock, shares issued (in shares)	0	0

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Restricted cash, current	$ 3,871	$ 368
Preferred stock, par value (in USD per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	750,000,000	750,000,000
Common stock, shares issued (in shares)	133,804,962	133,623,005
Common stock, shares outstanding (in shares)	80,063,044	79,959,989
Shares repurchased (in shares)	53,741,918	53,663,016

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Operating revenues	$ 592,218	$ 559,945
Operating expenses:
Cost of revenues (exclusive of depreciation and amortization)	108,647	102,771
Selling and marketing	66,475	66,053
Research and development	31,323	28,322
General and administrative	41,044	45,567
Amortization of intangible assets	24,667	21,720
Depreciation and amortization of property, equipment and leasehold improvements	5,460	6,534
Total operating expenses	277,616	270,967
Operating income	314,602	288,978
Interest income	(10,362)	(298)
Interest expense	46,206	40,714
Other expense (income)	2,386	(381)
Other expense (income), net	38,230	40,035
Income before provision for income taxes	276,372	248,943
Provision for income taxes	37,644	20,520
Net income	$ 238,728	$ 228,423
Earnings per share:
Basic (in USD per share)	$ 2.98	$ 2.80
Diluted (in USD per share)	$ 2.97	$ 2.78
Weighted average shares outstanding:
Basic (in USD per share)	80,041	81,591
Diluted (in USD per share)	80,482	82,286

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 238,728	$ 228,423
Other comprehensive income (loss):
Foreign currency translation adjustments	4,362	(2,950)
Income tax effect	(1,108)	862
Foreign currency translation adjustments, net	3,254	(2,088)
Pension and other post-retirement adjustments	(513)	110
Income tax effect	34	(44)
Pension and other post-retirement adjustments, net	(479)	66
Other comprehensive (loss) income, net of tax	2,775	(2,022)
Comprehensive income	$ 241,503	$ 226,401

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT) - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning Balance at Dec. 31, 2021	$ (163,467)	$ 1,332	$ (4,540,144)	$ 1,457,623	$ 2,976,517	$ (58,795)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	228,423				228,423
Dividends declared	(87,280)				(87,280)
Dividends paid in shares	77			77
Other comprehensive income (loss), net of tax	(2,022)					(2,022)
Common stock issued	4	4
Shares withheld for tax withholding	(105,000)		(105,000)
Compensation payable in common stock	22,754			22,754
Common stock repurchased and held in treasury	(772,657)		(772,657)
Common stock issued to Directors and (held in)/released from treasury	(21)		(21)
Ending Balance at Mar. 31, 2022	(879,189)	1,336	(5,417,822)	1,480,454	3,117,660	(60,817)
Beginning Balance at Dec. 31, 2022	(1,007,925)	1,336	(5,938,116)	1,515,874	3,473,192	(60,211)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	238,728				238,728
Dividends declared	(111,986)				(111,986)
Dividends paid in shares	44			44
Other comprehensive income (loss), net of tax	2,775					2,775
Common stock issued	2	2
Shares withheld for tax withholding	(43,960)		(43,960)
Compensation payable in common stock	20,988			20,988
Common stock repurchased and held in treasury	0
Common stock issued to Directors and (held in)/released from treasury	(30)		(30)
Ending Balance at Mar. 31, 2023	$ (901,364)	$ 1,338	$ (5,982,106)	$ 1,536,906	$ 3,599,934	$ (57,436)

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividend declared per common share (in USD per share)	$ 1.38	$ 1.04

CONDENSED CONSOLIDATED STATEM_7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities
Net income	$ 238,728	$ 228,423
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of intangible assets	24,667	21,720
Stock-based compensation expense	21,088	22,857
Depreciation and amortization of property, equipment and leasehold improvements	5,460	6,534
Amortization of right of use assets	5,782	6,292
Amortization of debt origination fees	1,264	1,403
Deferred taxes	(2,254)	(12,961)
Other adjustments	3,906	933
Changes in assets and liabilities:
Accounts receivable	22,489	70,417
Prepaid income taxes	3,396	(7,170)
Prepaid and other assets	(1,194)	3,062
Other non-current assets	(2,333)	(5,005)
Accounts payable	(6,327)	(2,060)
Income taxes payable	19,179	24,257
Accrued compensation and related benefits	(108,252)	(135,148)
Other accrued liabilities	8,305	15,161
Deferred revenue	34,427	10,932
Long-term operating lease liabilities	(5,047)	(5,542)
Other non-current liabilities	941	1,695
Other	(84)	(1,616)
Net cash provided by operating activities	264,141	244,184
Cash flows from investing activities
Capitalized software development costs	(15,351)	(14,084)
Capital expenditures	(6,225)	(1,254)
Other	(186)	28
Net cash used in investing activities	(21,762)	(15,310)
Cash flows from financing activities
Payment of dividends	(112,145)	(87,769)
Repurchase of common stock held in treasury	(43,960)	(877,657)
Repayment of borrowings	(2,188)	(5,000)
Proceeds from borrowings, inclusive of premium	0	5,000
Payment of debt issuance costs in connection with debt	0	(559)
Payment of contingent consideration	0	(132)
Net cash (used in) provided by financing activities	(158,293)	(966,117)
Effect of exchange rate changes	2,958	(4,891)
Net (decrease) increase in cash, cash equivalents and restricted cash	87,044	(742,134)
Cash, cash equivalents and restricted cash, beginning of period	993,564	1,421,449
Cash, cash equivalents and restricted cash, end of period	1,080,608	679,315
Supplemental disclosure of cash flow information:
Cash paid for interest	33,803	27,776
Cash paid for income taxes, net of refunds received	18,965	17,645
Supplemental disclosure of non-cash investing activities
Property, equipment and leasehold improvements in other accrued liabilities	5,156	6,118
Supplemental disclosure of non-cash financing activities
Cash dividends declared, but not yet paid	$ 511	$ 2,361

INTRODUCTION AND BASIS OF PRESE

INTRODUCTION AND BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
INTRODUCTION AND BASIS OF PRESENTATION	1. INTRODUCTION AND BASIS OF PRESENTATION MSCI Inc., together with its wholly owned subsidiaries (the “Company” or “MSCI”) is a leading provider of critical decision support tools and solutions for the global investment community. Our mission-critical offerings help investors address the challenges of a transforming investment landscape and power better investment decisions. Leveraging our knowledge of the global investment process and our expertise in research, data and technology, we enable our clients to understand and analyze key drivers of risk and return and confidently and efficiently build more effective portfolios. Our products and services include indexes; portfolio construction and risk management tools; environmental, social and governance (“ESG”) and climate solutions; and real estate market and transaction data and analysis. Basis of Presentation and Use of Estimates The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they should be read in conjunction with the audited consolidated financial statements and notes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022. If not materially different, certain note disclosures included therein have been omitted from these interim condensed consolidated financial statements. In the opinion of management, all adjustments, which consist of normal recurring adjustments necessary for a fair statement of the interim consolidated financial statements, have been included. The results of operations for interim periods are not necessarily indicative of results for the entire year. The Company’s unaudited condensed consolidated financial statements are prepared in accordance with GAAP. The Company makes certain estimates and judgments that can affect the reported amounts of assets and liabilities as of the date of the unaudited condensed consolidated financial statements, as well as the reported amounts of operating revenues and expenses during the periods presented. Significant estimates and judgments made by management include such examples as assessment of impairment of goodwill and intangible assets and income taxes. The Company believes that estimates used in the preparation of these unaudited condensed consolidated financial statements are reasonable; however, actual results could differ materially from these estimates. Inter-company balances and transactions are eliminated in consolidation. Concentrations For the three months ended March 31, 2023 and 2022, BlackRock, Inc. (“BlackRock”) accounted for 10.2% and 10.9% of the Company’s consolidated operating revenues, respectively. For the three months ended March 31, 2023 and 2022, BlackRock accounted for 17.4% and 18.0% of the Index segment’s operating revenues, respectively. No single customer represented 10.0% or more of operating revenues within the Analytics, ESG and Climate or All Other – Private Assets segments for the three months ended March 31, 2023 and 2022. Restricted Cash Restricted cash primarily relates to security deposits for certain operating leases that are legally restricted and unavailable for our general operations. Allowance for Credit Losses Changes in the allowance for credit losses from December 31, 2021 to March 31, 2023 were as follows: (in thousands) Amount Balance as of December 31, 2021 $ 2,337 Addition (reduction) to credit loss expense 910 Write-offs, net of recoveries (595) Balance as of December 31, 2022 $ 2,652 Addition (reduction) to credit loss expense 320 Write-offs, net of recoveries (191) Balance as of March 31, 2023 $ 2,781

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Mar. 31, 2023
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTSThere are no recently issued accounting standards updates that are currently expected to have a material impact on the Company.

REVENUE RECOGNITION

REVENUE RECOGNITION	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITION MSCI’s operating revenues are reported by product type, which generally reflects the timing of recognition. The Company’s operating revenue types are recurring subscriptions, asset-based fees and non-recurring revenues. The Company also disaggregates operating revenues by segment. The tables that follow present the disaggregated operating revenues for the periods indicated: For the Three Months Ended March 31, 2023 Segments (in thousands) Index Analytics ESG and Climate All Other - Private Assets Total Operating Revenue Types Recurring subscriptions $ 196,678 $ 144,503 $ 65,732 $ 38,334 $ 445,247 Asset-based fees 133,126 — — — 133,126 Non-recurring 9,578 2,567 1,326 374 13,845 Total $ 339,382 $ 147,070 $ 67,058 $ 38,708 $ 592,218 For the Three Months Ended March 31, 2022 Segments (in thousands) Index Analytics ESG and Climate All Other - Private Assets Total Operating Revenue Types Recurring subscriptions $ 174,498 $ 137,799 $ 50,572 $ 36,891 $ 399,760 Asset-based fees 145,053 — — — 145,053 Non-recurring 11,208 1,998 1,457 469 15,132 Total $ 330,759 $ 139,797 $ 52,029 $ 37,360 $ 559,945 The tables that follow present the change in accounts receivable, net of allowances, and current deferred revenue between the dates indicated: (in thousands) Accounts receivable, net of allowances Deferred revenue Opening (December 31, 2022) $ 663,236 $ 882,886 Closing (March 31, 2023) 641,584 920,255 Increase/(decrease) $ (21,652) $ 37,369 (in thousands) Accounts receivable, net of allowances Deferred revenue Opening (December 31, 2021) $ 664,511 $ 824,912 Closing (March 31, 2022) 592,326 832,203 Increase/(decrease) $ (72,185) $ 7,291 The amounts of revenues recognized in the periods that were included in the opening current deferred revenue, which reflects contract liability amounts, were $356.6 million and $339.7 million for the three months ended March 31, 2023 and 2022 respectively. The difference between the opening and closing balances of the Company’s deferred revenue was primarily driven by an increase in billings, partially offset by an increase in amortization of deferred revenue to operating revenues. As of March 31, 2023 and December 31, 2022, the Company carried a long-term deferred revenue balance of $30.0 million and $29.4 million, respectively, in “Other non-current liabilities” on the Unaudited Condensed Consolidated Statement of Financial Condition. For contracts that have a duration of one year or less, the Company has not disclosed either the remaining performance obligation as of the end of the reporting period or when the Company expects to recognize the revenue. The remaining performance obligations for contracts that have a duration of greater than one year and the periods in which they are expected to be recognized are as follows: As of March 31, (in thousands) 2023 First 12-month period $ 673,206 Second 12-month period 408,154 Third 12-month period 188,184 Periods thereafter 126,279 Total $ 1,395,823

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE	EARNINGS PER COMMON SHAREBasic earnings per share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted EPS reflects the assumed conversion of all dilutive securities, including, when applicable, restricted stock units (“RSUs”), performance stock units (“PSUs”) and performance stock options (“PSOs”). The following table presents the computation of basic and diluted EPS: Three Months Ended (in thousands, except per share data) 2023 2022 Net income $ 238,728 $ 228,423 Basic weighted average common shares outstanding 80,041 81,591 Effect of dilutive securities: PSUs, RSUs and PSOs 441 695 Diluted weighted average common shares outstanding 80,482 82,286 Earnings per common share: Basic $ 2.98 $ 2.80 Diluted $ 2.97 $ 2.78

PROPERTY, EQUIPMENT AND LEASEHO

PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET	PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET Property, equipment and leasehold improvements, net consisted of the following as of the dates indicated: As of March 31, December 31, (in thousands) 2023 2022 Computer & related equipment $ 183,739 $ 181,710 Furniture & fixtures 14,429 14,078 Leasehold improvements 54,662 54,040 Work-in-process 9,409 2,373 Subtotal 262,239 252,201 Accumulated depreciation and amortization (203,400) (198,348) Property, equipment and leasehold improvements, net $ 58,839 $ 53,853

GOODWILL AND INTANGIBLE ASSETS,

GOODWILL AND INTANGIBLE ASSETS, NET	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS, NET	GOODWILL AND INTANGIBLE ASSETS, NET Goodwill The following table presents goodwill by reportable segment: (in thousands) Index Analytics ESG and Climate All Other - Private Assets Total Goodwill at December 31, 2022 $ 1,201,622 $ 290,976 $ 48,047 $ 689,025 $ 2,229,670 Foreign exchange translation adjustment 846 — — 521 1,367 Goodwill at March 31, 2023 $ 1,202,468 $ 290,976 $ 48,047 $ 689,546 $ 2,231,037 Intangible Assets, Net The following table presents the amount of amortization expense related to intangible assets by category for the periods indicated: Three Months Ended (in thousands) 2023 2022 Amortization expense of acquired intangible assets $ 15,831 $ 15,898 Amortization expense of internally developed capitalized software 8,836 5,822 Total amortization of intangible assets expense $ 24,667 $ 21,720 The gross carrying and accumulated amortization amounts related to the Company’s intangible assets were as follows: As of March 31, December 31, (in thousands) 2023 2022 Gross intangible assets: Customer relationships $ 532,500 $ 532,500 Proprietary data 220,778 220,778 Acquired technology and software 209,220 209,220 Trademarks 208,190 208,190 Internally developed capitalized software 182,400 165,928 Subtotal 1,353,088 1,336,616 Foreign exchange translation adjustment (11,550) (13,214) Total gross intangible assets $ 1,341,538 $ 1,323,402 Accumulated amortization: Customer relationships $ (316,078) $ (308,437) Proprietary data (46,550) (41,783) Acquired technology and software (180,862) (179,833) Trademarks (164,438) (162,044) Internally developed capitalized software (86,095) (77,259) Subtotal (794,023) (769,356) Foreign exchange translation adjustment 3,497 4,471 Total accumulated amortization $ (790,526) $ (764,885) Net intangible assets: Customer relationships $ 216,422 $ 224,063 Proprietary data 174,228 178,995 Acquired technology and software 28,358 29,387 Trademarks 43,752 46,146 Internally developed capitalized software 96,305 88,670 Subtotal 559,065 567,260 Foreign exchange translation adjustment (8,053) (8,743) Total net intangible assets $ 551,012 $ 558,517 The following table presents the estimated amortization expense for the remainder of the year ending December 31, 2023 and succeeding years: Years Ending December 31, Amortization Remainder of 2023 $ 78,701 2024 97,591 2025 72,243 2026 39,846 2027 36,275 Thereafter 226,356 Total $ 551,012

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES As of March 31, 2023, the Company had outstanding an aggregate of $4,200.0 million in senior unsecured notes (collectively, the “Senior Notes”) and an aggregate of $345.6 million in senior unsecured tranche A term loans (the “Tranche A Term Loans”) under the term loan A facility (the “TLA Facility”), as presented in the table below: Principal Carrying Carrying Fair Fair (in thousands) Maturity Date March 31, 2023 March 31, 2023 December 31, 2022 March 31, 2023 December 31, 2022 Debt 4.000% senior unsecured notes due 2029 November 15, 2029 $ 1,000,000 $ 992,818 $ 992,546 $ 913,500 $ 876,240 3.625% senior unsecured notes due 2030 September 1, 2030 900,000 895,091 894,925 783,216 751,113 3.875% senior unsecured notes due 2031 February 15, 2031 1,000,000 991,340 991,067 891,050 833,130 3.625% senior unsecured notes due 2031 November 1, 2031 600,000 594,359 594,195 514,356 500,880 3.250% senior unsecured notes due 2033 August 15, 2033 700,000 693,030 692,862 576,072 542,696 Variable rate Tranche A Term Loans due 2027 February 16, 2027 345,625 344,253 346,352 343,897 346,073 Total debt (1) $ 4,545,625 $ 4,510,891 $ 4,511,947 $ 4,022,091 $ 3,850,132 ___________________________ (1) Includes $8.7 million of current-portion of long-term debt. Maturities of the Company’s principal debt payments as of March 31, 2023 are as follows: Maturity of Principal Debt Payments Amounts Remainder of 2023 $ 6,562 2024 10,938 2025 19,687 2026 26,250 2027 282,188 Thereafter 4,200,000 Total debt $ 4,545,625 Interest payments attributable to the Company’s outstanding indebtedness are due as presented in the following table: Interest payment frequency First interest Senior Notes and Tranche A Term Loans 4.000% senior unsecured notes due 2029 Semi-Annual May 15 3.625% senior unsecured notes due 2030 Semi-Annual March 1 3.875% senior unsecured notes due 2031 Semi-Annual June 1 3.625% senior unsecured notes due 2031 Semi-Annual May 1 3.250% senior unsecured notes due 2033 Semi-Annual February 15 Variable rate Tranche A Term Loans due 2027 Variable July 11 The fair market value of the Company’s debt obligations represent Level 2 valuations. The Company utilized the market approach and obtained security pricing from a vendor who used broker quotes and third-party pricing services to determine fair values. Credit Agreement. Since November 20, 2014, the Company has maintained a revolving credit agreement with a syndicate of banks. On June 9, 2022, the Company, the guarantors party thereto and the lenders and agents party thereto, entered into an Amended and Restated Credit Agreement (the “Credit Agreement”), amending and restating in its entirety the Company’s prior revolving credit agreement (the “Prior Revolving Credit Agreement”). The Credit Agreement makes available to the Company an aggregate of $500.0 million of revolving loan commitments, which may be drawn until February 16, 2027, and the TLA Facility. At March 31, 2023, the revolving loan commitments were undrawn. As noted above, at March 31, 2023, the commitments under the TLA Facility were drawn in full, and the resulting Tranche A Term Loans mature on February 16, 2027. The obligations under the Credit Agreement are general unsecured obligations of the Company and the guarantors. Interest on the Tranche A Term Loans under the TLA Facility accrues, at a variable rate, based on the secured overnight funding rate (“SOFR”) or the alternate base rate (“Base Rate”), plus, in each case, an applicable margin and will be due on each Interest Payment Date (as defined in the Credit Agreement). The applicable margin is calculated by reference to the Company’s Consolidated Leverage Ratio (as defined in the Credit Agreement) and ranges between 1.50% to 2.00% for SOFR loans, and 0.50% to 1.00% for Base Rate loans. At March 31, 2023, the interest rate on the TLA Facility was 6.84%. In connection with the closings of the Senior Notes offerings, entry into the Prior Revolving Credit Agreement and the subsequent amendments thereto and entry into the Credit Agreement, the Company paid certain financing fees which, together with the existing fees related to prior credit facilities, are being amortized over their related lives. At March 31, 2023, $36.8 million of the deferred financing fees and premium remain unamortized, $0.5 million of which is included in “Prepaid and other assets,” $1.5 million of which is included in “Other non-current assets” and $34.8 million of which is included in “Long-term debt” on the Unaudited Condensed Consolidated Statement of Financial Condition.

LEASES

LEASES	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
LEASES	LEASESThe Company recognized $7.1 million and $7.7 million of operating lease expenses for the three months ended March 31, 2023 and 2022, respectively. The amounts associated with variable lease costs, short-term lease costs and sublease income were not material for any of the three months ended March 31, 2023 and 2022. Maturities of the Company’s operating lease liabilities as of March 31, 2023 are as follows: Maturity of Lease Liabilities Operating (in thousands) Leases Remainder of 2023 $ 21,258 2024 25,085 2025 23,817 2026 22,133 2027 17,288 Thereafter 66,535 Total lease payments $ 176,116 Less: Interest (22,725) Present value of lease liabilities $ 153,391 Other accrued liabilities $ 22,820 Long-term operating lease liabilities $ 130,571 Weighted-average remaining lease term and discount rate for the Company’s operating leases are as follows: As of March 31, December 31, Lease Term and Discount Rate 2023 2022 Weighted-average remaining lease term (years) 7.66 7.86 Weighted-average discount rate 3.45 % 3.40 % Other information related to the Company’s operating leases are as follows: Other Information Three Months Ended (in thousands) 2023 2022 Operating cash flows used for operating leases $ 7,408 $ 7,152 Right of use assets obtained in exchange for new $ 3,432 $ —

SHAREHOLDERS' EQUITY (DEFICIT)

SHAREHOLDERS' EQUITY (DEFICIT)	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
SHAREHOLDERS' EQUITY (DEFICIT)	SHAREHOLDERS’ EQUITY (DEFICIT) Return of capital On July 28, 2022, the Board of Directors authorized a stock repurchase program (the “2022 Repurchase Program”) for the purchase of up to $1,000.0 million worth of shares of MSCI’s common stock in addition to the $539.1 million of authorization then remaining under a previously existing share repurchase program that was replaced by, and incorporated into, the 2022 Repurchase Program for a total of $1,539.1 million of stock repurchase authorization available under the 2022 Repurchase Program. Share repurchases made pursuant to the 2022 Repurchase Program may take place in the open market or in privately negotiated transactions from time to time based on market and other conditions. This authorization may be modified, suspended or terminated by the Board of Directors at any time without prior notice. As of March 31, 2023, there was $1,304.4 million of available authorization remaining under the 2022 Repurchase Program. The following table provides information with respect to repurchases of the Company’s common stock made on the open market: Three Months Ended Average Total Dollar March 31, 2023 $ — — $ — March 31, 2022 $ 515.74 1,498 $ 772,657 The following table presents dividends declared per common share as well as total amounts declared, distributed and deferred for the periods indicated: Dividends (in thousands, except per share data) Per Share Declared Distributed (Released)/Deferred Three Months Ended March 31, 2023 $ 1.38 $ 111,986 $ 112,189 $ (203) Three Months Ended March 31, 2022 $ 1.04 $ 87,280 $ 87,846 $ (566) Common Stock. The following table presents activity related to shares of common stock issued and repurchased during the three months ended March 31, 2023: Common Stock Treasury Common Stock Issued Stock Outstanding Balance at December 31, 2022 133,623,005 (53,663,016) 79,959,989 Dividend payable/paid 24 — 24 Common stock issued 181,875 — 181,875 Shares withheld for tax withholding — (78,844) (78,844) Shares repurchased under stock repurchase programs — — — Shares issued to directors 58 (58) — Balance at March 31, 2023 133,804,962 (53,741,918) 80,063,044

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company’s provision for income taxes was $37.6 million and $20.5 million for the three months ended March 31, 2023 and 2022, respectively. The effective tax rate of 13.6% for the three months ended March 31, 2023 reflects the Company’s estimate of the effective tax rate for the period and was impacted by certain favorable discrete items totaling $16.5 million, primarily related to $11.1 million of excess tax benefits recognized on share-based compensation vested during the period and $4.6 million of tax benefits related to the resolution of prior year items. The effective tax rate of 8.2% for the three months ended March 31, 2022 reflects the Company’s estimate of the effective tax rate for the period and was impacted by certain favorable discrete items totaling $28.1 million, primarily related to $28.3 million of excess tax benefits recognized on share-based compensation vested during the period. The Company is under or open to examination by the IRS and other tax authorities in certain jurisdictions, including foreign jurisdictions, such as the United Kingdom, Switzerland and India, and states in the United States in which the Company has significant operations, such as New York and California. The tax years currently under or open to examination vary by jurisdiction but include years from 2008 onwards. The Company regularly assesses the likelihood of additional assessments in each of the taxing jurisdictions in which it files income tax returns. The Company has established unrecognized tax benefits that the Company believes are adequate in relation to the potential for additional assessments. Once established, the Company adjusts unrecognized tax benefits only when more information is

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company has five operating segments: Index, Analytics, ESG and Climate, Real Assets and The Burgiss Group, LLC (“Burgiss”), which are presented as the following four reportable segments: Index, Analytics, ESG and Climate and All Other – Private Assets. The Index operating segment offers equity and fixed income indexes. The indexes are used in many areas of the investment process, including for developing indexed financial products (e.g., Exchange Traded Funds (“ETFs”), mutual funds, annuities, futures, options, structured products and over-the-counter derivatives), performance benchmarking, portfolio construction and rebalancing, and asset allocation. The Analytics operating segment offers risk management, performance attribution and portfolio management content, applications and services that provide clients with an integrated view of risk and return and tools for analyzing market, credit, liquidity, counterparty and climate risk across all major asset classes, spanning short-, medium- and long-term time horizons. Clients access Analytics tools and content through MSCI’s proprietary applications and application programming interfaces, third-party applications or directly through their own platforms. Additionally, the Analytics operating segment also provides various managed services to help clients operate more efficiently, including consolidation of client portfolio data from various sources, review and reconciliation of input data and results, and customized reporting. The ESG and Climate operating segment offers products and services that help institutional investors understand how ESG and climate considerations can impact the long-term risk and return of their portfolio and individual security-level investments. In addition, the ESG and Climate operating segment provides data, ratings, research and tools to help investors navigate increasing regulation, meet new client demands and better integrate ESG and climate elements into their investment processes. The Real Assets operating segment offers data, benchmarks, return-analytics, climate assessments and market insights for tangible assets such as real estate and infrastructure. In addition, Real Assets performance and risk analytics range from enterprise-wide to property-specific analysis. The Real Assets operating segment also provides business intelligence products to real estate owners, managers, developers and brokers worldwide. The Burgiss operating segment represents the Company’s equity method investment in Burgiss, a global provider of investment decision support tools for private capital. The Chief Operating Decision Maker (“CODM”) measures and evaluates reportable segments based on segment operating revenues as well as Adjusted EBITDA and other measures. The Company excludes the following items from segment Adjusted EBITDA: provision for income taxes, other expense (income), net, depreciation and amortization of property, equipment and leasehold improvements, amortization of intangible assets and, at times, certain other transactions or adjustments, including certain non-recurring acquisition-related integration and transaction costs, that the CODM does not consider for the purposes of making decisions to allocate resources among segments or to assess segment performance. Although these amounts are excluded from segment Adjusted EBITDA, they are included in reported consolidated net income and are included in the reconciliation that follows. The following table presents operating revenues by reportable segment for the periods indicated: Three Months Ended (in thousands) 2023 2022 Operating revenues Index $ 339,382 $ 330,759 Analytics 147,070 139,797 ESG and Climate 67,058 52,029 All Other - Private Assets 38,708 37,360 Total $ 592,218 $ 559,945 The following table presents segment profitability and a reconciliation to net income for the periods indicated: Three Months Ended (in thousands) 2023 2022 Index Adjusted EBITDA $ 253,682 $ 245,875 Analytics Adjusted EBITDA 60,780 50,889 ESG and Climate Adjusted EBITDA 17,876 12,092 All Other - Private Assets Adjusted EBITDA 12,391 9,688 Total operating segment profitability 344,729 318,544 Amortization of intangible assets 24,667 21,720 Depreciation and amortization of property, equipment and leasehold improvements 5,460 6,534 Acquisition-related integration and transaction costs (1) — 1,312 Operating income 314,602 288,978 Other expense (income), net 38,230 40,035 Provision for income taxes 37,644 20,520 Net income $ 238,728 $ 228,423 ___________________________ (1) Incremental and non-recurring costs attributable to acquisitions directly related to the execution of the transaction and integration of the acquired business that have occurred no later than 12 months after the close of the transaction. Operating revenues by geography are primarily based on the shipping address of the ultimate customer utilizing the product. The following table presents operating revenues by geographic area for the periods indicated: Three Months Ended (in thousands) 2023 2022 Operating revenues Americas: United States $ 238,416 $ 233,356 Other 27,536 22,467 Total Americas 265,952 255,823 Europe, the Middle East and Africa (“EMEA”): United Kingdom 91,660 86,986 Other 138,319 131,573 Total EMEA 229,979 218,559 Asia & Australia: Japan 26,017 23,190 Other 70,270 62,373 Total Asia & Australia 96,287 85,563 Total $ 592,218 $ 559,945 Long-lived assets consist of property, equipment and leasehold improvements, right of use assets and internally developed capitalized software, net of accumulated depreciation and amortization. The following table presents long-lived assets by geographic area on the dates indicated: As of March 31, December 31, (in thousands) 2023 2022 Long-lived assets Americas: United States $ 189,687 $ 179,453 Other 12,132 11,971 Total Americas 201,819 191,424 EMEA: United Kingdom 19,270 19,674 Other 22,764 23,099 Total EMEA 42,034 42,773 Asia & Australia: Japan 1,585 652 Other 34,282 32,962 Total Asia & Australia 35,867 33,614 Total $ 279,720 $ 267,811

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTSOn April 24, 2023, the Board of Directors declared a quarterly cash dividend of $1.38 per share for the three months ending June 30, 2023 (“second quarter 2023”). The second quarter 2023 dividend is payable on May 31, 2023 to shareholders of record as of the close of trading on May 12, 2023

INTRODUCTION AND BASIS OF PRE_2

INTRODUCTION AND BASIS OF PRESENTATION (Policies)	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation and Use of Estimates The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they should be read in conjunction with the audited consolidated financial statements and notes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022. If not materially different, certain note disclosures included therein have been omitted from these interim condensed consolidated financial statements. In the opinion of management, all adjustments, which consist of normal recurring adjustments necessary for a fair statement of the interim consolidated financial statements, have been included. The results of operations for interim periods are not necessarily indicative of results for the entire year. The Company’s unaudited condensed consolidated financial statements are prepared in accordance with GAAP. The Company makes certain estimates and judgments that can affect the reported amounts of assets and liabilities as of the date of the unaudited condensed consolidated financial statements, as well as the reported amounts of operating revenues and expenses during the periods presented. Significant estimates and judgments made by management include such examples as assessment of impairment of goodwill and intangible assets and income taxes. The Company believes that estimates used in the preparation of these unaudited condensed consolidated financial statements are reasonable; however, actual results could differ materially from these estimates. Inter-company balances and transactions are eliminated in consolidation.
Use of Estimates	The Company makes certain estimates and judgments that can affect the reported amounts of assets and liabilities as of the date of the unaudited condensed consolidated financial statements, as well as the reported amounts of operating revenues and expenses during the periods presented. Significant estimates and judgments made by management include such examples as assessment of impairment of goodwill and intangible assets and income taxes. The Company believes that estimates used in the preparation of these unaudited condensed consolidated financial statements are reasonable; however, actual results could differ materially from these estimates. Inter-company balances and transactions are eliminated in consolidation.
Concentrations	Concentrations For the three months ended March 31, 2023 and 2022, BlackRock, Inc. (“BlackRock”) accounted for 10.2% and 10.9% of the Company’s consolidated operating revenues, respectively. For the three months ended March 31, 2023 and 2022, BlackRock accounted for 17.4% and 18.0% of the Index segment’s operating revenues, respectively. No single customer represented 10.0% or more of operating revenues within the Analytics, ESG and Climate or All Other – Private Assets segments for the three months ended March 31, 2023 and 2022.
Restricted Cash	Restricted CashRestricted cash primarily relates to security deposits for certain operating leases that are legally restricted and unavailable for our general operations.

INTRODUCTION AND BASIS OF PRE_3

INTRODUCTION AND BASIS OF PRESENTATION (Tables)	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Changes in Allowance for Doubtful Accounts	Changes in the allowance for credit losses from December 31, 2021 to March 31, 2023 were as follows: (in thousands) Amount Balance as of December 31, 2021 $ 2,337 Addition (reduction) to credit loss expense 910 Write-offs, net of recoveries (595) Balance as of December 31, 2022 $ 2,652 Addition (reduction) to credit loss expense 320 Write-offs, net of recoveries (191) Balance as of March 31, 2023 $ 2,781

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Operating Revenue	The tables that follow present the disaggregated operating revenues for the periods indicated: For the Three Months Ended March 31, 2023 Segments (in thousands) Index Analytics ESG and Climate All Other - Private Assets Total Operating Revenue Types Recurring subscriptions $ 196,678 $ 144,503 $ 65,732 $ 38,334 $ 445,247 Asset-based fees 133,126 — — — 133,126 Non-recurring 9,578 2,567 1,326 374 13,845 Total $ 339,382 $ 147,070 $ 67,058 $ 38,708 $ 592,218 For the Three Months Ended March 31, 2022 Segments (in thousands) Index Analytics ESG and Climate All Other - Private Assets Total Operating Revenue Types Recurring subscriptions $ 174,498 $ 137,799 $ 50,572 $ 36,891 $ 399,760 Asset-based fees 145,053 — — — 145,053 Non-recurring 11,208 1,998 1,457 469 15,132 Total $ 330,759 $ 139,797 $ 52,029 $ 37,360 $ 559,945
Schedule of Change in Accounts Receivable and Current Deferred Revenue	The tables that follow present the change in accounts receivable, net of allowances, and current deferred revenue between the dates indicated: (in thousands) Accounts receivable, net of allowances Deferred revenue Opening (December 31, 2022) $ 663,236 $ 882,886 Closing (March 31, 2023) 641,584 920,255 Increase/(decrease) $ (21,652) $ 37,369 (in thousands) Accounts receivable, net of allowances Deferred revenue Opening (December 31, 2021) $ 664,511 $ 824,912 Closing (March 31, 2022) 592,326 832,203 Increase/(decrease) $ (72,185) $ 7,291
Schedule of Remaining Performance Obligations	The remaining performance obligations for contracts that have a duration of greater than one year and the periods in which they are expected to be recognized are as follows: As of March 31, (in thousands) 2023 First 12-month period $ 673,206 Second 12-month period 408,154 Third 12-month period 188,184 Periods thereafter 126,279 Total $ 1,395,823

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Computation of Basic and Diluted EPS	The following table presents the computation of basic and diluted EPS: Three Months Ended (in thousands, except per share data) 2023 2022 Net income $ 238,728 $ 228,423 Basic weighted average common shares outstanding 80,041 81,591 Effect of dilutive securities: PSUs, RSUs and PSOs 441 695 Diluted weighted average common shares outstanding 80,482 82,286 Earnings per common share: Basic $ 2.98 $ 2.80 Diluted $ 2.97 $ 2.78

PROPERTY, EQUIPMENT AND LEASE_2

PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET (Tables)	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property, Equipment and Leasehold Improvements, Net	Property, equipment and leasehold improvements, net consisted of the following as of the dates indicated: As of March 31, December 31, (in thousands) 2023 2022 Computer & related equipment $ 183,739 $ 181,710 Furniture & fixtures 14,429 14,078 Leasehold improvements 54,662 54,040 Work-in-process 9,409 2,373 Subtotal 262,239 252,201 Accumulated depreciation and amortization (203,400) (198,348) Property, equipment and leasehold improvements, net $ 58,839 $ 53,853

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS, NET (Tables)	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Change to Company's Goodwill	The following table presents goodwill by reportable segment: (in thousands) Index Analytics ESG and Climate All Other - Private Assets Total Goodwill at December 31, 2022 $ 1,201,622 $ 290,976 $ 48,047 $ 689,025 $ 2,229,670 Foreign exchange translation adjustment 846 — — 521 1,367 Goodwill at March 31, 2023 $ 1,202,468 $ 290,976 $ 48,047 $ 689,546 $ 2,231,037
Schedule of Amortization Expense Related to Intangible Assets by Category	The following table presents the amount of amortization expense related to intangible assets by category for the periods indicated: Three Months Ended (in thousands) 2023 2022 Amortization expense of acquired intangible assets $ 15,831 $ 15,898 Amortization expense of internally developed capitalized software 8,836 5,822 Total amortization of intangible assets expense $ 24,667 $ 21,720
Schedule of Gross Carrying and Accumulated Amortization Amounts Related to Company's Intangible Assets	The gross carrying and accumulated amortization amounts related to the Company’s intangible assets were as follows: As of March 31, December 31, (in thousands) 2023 2022 Gross intangible assets: Customer relationships $ 532,500 $ 532,500 Proprietary data 220,778 220,778 Acquired technology and software 209,220 209,220 Trademarks 208,190 208,190 Internally developed capitalized software 182,400 165,928 Subtotal 1,353,088 1,336,616 Foreign exchange translation adjustment (11,550) (13,214) Total gross intangible assets $ 1,341,538 $ 1,323,402 Accumulated amortization: Customer relationships $ (316,078) $ (308,437) Proprietary data (46,550) (41,783) Acquired technology and software (180,862) (179,833) Trademarks (164,438) (162,044) Internally developed capitalized software (86,095) (77,259) Subtotal (794,023) (769,356) Foreign exchange translation adjustment 3,497 4,471 Total accumulated amortization $ (790,526) $ (764,885) Net intangible assets: Customer relationships $ 216,422 $ 224,063 Proprietary data 174,228 178,995 Acquired technology and software 28,358 29,387 Trademarks 43,752 46,146 Internally developed capitalized software 96,305 88,670 Subtotal 559,065 567,260 Foreign exchange translation adjustment (8,053) (8,743) Total net intangible assets $ 551,012 $ 558,517
Estimated Amortization Expense for Remainder of 2022 and Succeeding Years	The following table presents the estimated amortization expense for the remainder of the year ending December 31, 2023 and succeeding years: Years Ending December 31, Amortization Remainder of 2023 $ 78,701 2024 97,591 2025 72,243 2026 39,846 2027 36,275 Thereafter 226,356 Total $ 551,012

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Senior Unsecured Notes	As of March 31, 2023, the Company had outstanding an aggregate of $4,200.0 million in senior unsecured notes (collectively, the “Senior Notes”) and an aggregate of $345.6 million in senior unsecured tranche A term loans (the “Tranche A Term Loans”) under the term loan A facility (the “TLA Facility”), as presented in the table below: Principal Carrying Carrying Fair Fair (in thousands) Maturity Date March 31, 2023 March 31, 2023 December 31, 2022 March 31, 2023 December 31, 2022 Debt 4.000% senior unsecured notes due 2029 November 15, 2029 $ 1,000,000 $ 992,818 $ 992,546 $ 913,500 $ 876,240 3.625% senior unsecured notes due 2030 September 1, 2030 900,000 895,091 894,925 783,216 751,113 3.875% senior unsecured notes due 2031 February 15, 2031 1,000,000 991,340 991,067 891,050 833,130 3.625% senior unsecured notes due 2031 November 1, 2031 600,000 594,359 594,195 514,356 500,880 3.250% senior unsecured notes due 2033 August 15, 2033 700,000 693,030 692,862 576,072 542,696 Variable rate Tranche A Term Loans due 2027 February 16, 2027 345,625 344,253 346,352 343,897 346,073 Total debt (1) $ 4,545,625 $ 4,510,891 $ 4,511,947 $ 4,022,091 $ 3,850,132 ___________________________ (1) Includes $8.7 million of current-portion of long-term debt.
Schedule of Maturities of Long-Term Debt	Maturities of the Company’s principal debt payments as of March 31, 2023 are as follows: Maturity of Principal Debt Payments Amounts Remainder of 2023 $ 6,562 2024 10,938 2025 19,687 2026 26,250 2027 282,188 Thereafter 4,200,000 Total debt $ 4,545,625
Schedule of Interest Payments Due Attributable to Outstanding indebtedness	Interest payments attributable to the Company’s outstanding indebtedness are due as presented in the following table: Interest payment frequency First interest Senior Notes and Tranche A Term Loans 4.000% senior unsecured notes due 2029 Semi-Annual May 15 3.625% senior unsecured notes due 2030 Semi-Annual March 1 3.875% senior unsecured notes due 2031 Semi-Annual June 1 3.625% senior unsecured notes due 2031 Semi-Annual May 1 3.250% senior unsecured notes due 2033 Semi-Annual February 15 Variable rate Tranche A Term Loans due 2027 Variable July 11

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Summary of Maturities of Operating Lease Liability	Maturities of the Company’s operating lease liabilities as of March 31, 2023 are as follows: Maturity of Lease Liabilities Operating (in thousands) Leases Remainder of 2023 $ 21,258 2024 25,085 2025 23,817 2026 22,133 2027 17,288 Thereafter 66,535 Total lease payments $ 176,116 Less: Interest (22,725) Present value of lease liabilities $ 153,391 Other accrued liabilities $ 22,820 Long-term operating lease liabilities $ 130,571
Lease, Cost	Weighted-average remaining lease term and discount rate for the Company’s operating leases are as follows: As of March 31, December 31, Lease Term and Discount Rate 2023 2022 Weighted-average remaining lease term (years) 7.66 7.86 Weighted-average discount rate 3.45 % 3.40 % Other information related to the Company’s operating leases are as follows: Other Information Three Months Ended (in thousands) 2023 2022 Operating cash flows used for operating leases $ 7,408 $ 7,152 Right of use assets obtained in exchange for new $ 3,432 $ —

SHAREHOLDERS' EQUITY (DEFICIT)

SHAREHOLDERS' EQUITY (DEFICIT) (Tables)	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Schedule of Company's Common Stock Repurchases Made on Open Market	The following table provides information with respect to repurchases of the Company’s common stock made on the open market: Three Months Ended Average Total Dollar March 31, 2023 $ — — $ — March 31, 2022 $ 515.74 1,498 $ 772,657
Schedule of Dividends Declared Per Common Share and Total Amounts Declared, Distributed and Deferred	The following table presents dividends declared per common share as well as total amounts declared, distributed and deferred for the periods indicated: Dividends (in thousands, except per share data) Per Share Declared Distributed (Released)/Deferred Three Months Ended March 31, 2023 $ 1.38 $ 111,986 $ 112,189 $ (203) Three Months Ended March 31, 2022 $ 1.04 $ 87,280 $ 87,846 $ (566)
Summary of Activity Related to Shares of Common Stock Issued and Repurchased	The following table presents activity related to shares of common stock issued and repurchased during the three months ended March 31, 2023: Common Stock Treasury Common Stock Issued Stock Outstanding Balance at December 31, 2022 133,623,005 (53,663,016) 79,959,989 Dividend payable/paid 24 — 24 Common stock issued 181,875 — 181,875 Shares withheld for tax withholding — (78,844) (78,844) Shares repurchased under stock repurchase programs — — — Shares issued to directors 58 (58) — Balance at March 31, 2023 133,804,962 (53,741,918) 80,063,044

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Operating Revenues by Reportable Segment	The following table presents operating revenues by reportable segment for the periods indicated: Three Months Ended (in thousands) 2023 2022 Operating revenues Index $ 339,382 $ 330,759 Analytics 147,070 139,797 ESG and Climate 67,058 52,029 All Other - Private Assets 38,708 37,360 Total $ 592,218 $ 559,945
Segment Profitability and Reconciliation to Net Income	The following table presents segment profitability and a reconciliation to net income for the periods indicated: Three Months Ended (in thousands) 2023 2022 Index Adjusted EBITDA $ 253,682 $ 245,875 Analytics Adjusted EBITDA 60,780 50,889 ESG and Climate Adjusted EBITDA 17,876 12,092 All Other - Private Assets Adjusted EBITDA 12,391 9,688 Total operating segment profitability 344,729 318,544 Amortization of intangible assets 24,667 21,720 Depreciation and amortization of property, equipment and leasehold improvements 5,460 6,534 Acquisition-related integration and transaction costs (1) — 1,312 Operating income 314,602 288,978 Other expense (income), net 38,230 40,035 Provision for income taxes 37,644 20,520 Net income $ 238,728 $ 228,423 ___________________________ (1) Incremental and non-recurring costs attributable to acquisitions directly related to the execution of the transaction and integration of the acquired business that have occurred no later than 12 months after the close of the transaction.
Operating Revenues by Geographic Area	Operating revenues by geography are primarily based on the shipping address of the ultimate customer utilizing the product. The following table presents operating revenues by geographic area for the periods indicated: Three Months Ended (in thousands) 2023 2022 Operating revenues Americas: United States $ 238,416 $ 233,356 Other 27,536 22,467 Total Americas 265,952 255,823 Europe, the Middle East and Africa (“EMEA”): United Kingdom 91,660 86,986 Other 138,319 131,573 Total EMEA 229,979 218,559 Asia & Australia: Japan 26,017 23,190 Other 70,270 62,373 Total Asia & Australia 96,287 85,563 Total $ 592,218 $ 559,945
Long-Lived Assets by Geographic Area	Long-lived assets consist of property, equipment and leasehold improvements, right of use assets and internally developed capitalized software, net of accumulated depreciation and amortization. The following table presents long-lived assets by geographic area on the dates indicated: As of March 31, December 31, (in thousands) 2023 2022 Long-lived assets Americas: United States $ 189,687 $ 179,453 Other 12,132 11,971 Total Americas 201,819 191,424 EMEA: United Kingdom 19,270 19,674 Other 22,764 23,099 Total EMEA 42,034 42,773 Asia & Australia: Japan 1,585 652 Other 34,282 32,962 Total Asia & Australia 35,867 33,614 Total $ 279,720 $ 267,811

INTRODUCTION AND BASIS OF PRE_4

INTRODUCTION AND BASIS OF PRESENTATION - Narrative (Detail) - Customer Concentration Risk - Blackrock Inc	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue from Contract with Customer, Product and Service Benchmark
Introduction And Basis Of Presentation [Line Items]
Percentage of operating revenues accounted for by major customer	10.20%	10.90%
Revenue from Contract with Customer, Segment Benchmark | Index
Introduction And Basis Of Presentation [Line Items]
Percentage of operating revenues accounted for by major customer	17.40%	18%

INTRODUCTION AND BASIS OF PRE_5

INTRODUCTION AND BASIS OF PRESENTATION - Changes in Allowance for Doubtful Accounts (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Accounts receivable, net of allowances
Balance at beginning of year	$ 2,652	$ 2,337
Addition (reduction) to credit loss expense	320	910
Write-offs, net of recoveries	(191)	(595)
Balance at ending of year	$ 2,781	$ 2,652

REVENUE RECOGNITION - Disaggreg

REVENUE RECOGNITION - Disaggregation of Operating Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation Of Revenue [Line Items]
Operating revenues	$ 592,218	$ 559,945
Index
Disaggregation Of Revenue [Line Items]
Operating revenues	339,382	330,759
Analytics
Disaggregation Of Revenue [Line Items]
Operating revenues	147,070	139,797
ESG and Climate
Disaggregation Of Revenue [Line Items]
Operating revenues	67,058	52,029
All Other - Private Assets
Disaggregation Of Revenue [Line Items]
Operating revenues	38,708	37,360
Recurring Subscriptions
Disaggregation Of Revenue [Line Items]
Operating revenues	445,247	399,760
Recurring Subscriptions | Index
Disaggregation Of Revenue [Line Items]
Operating revenues	196,678	174,498
Recurring Subscriptions | Analytics
Disaggregation Of Revenue [Line Items]
Operating revenues	144,503	137,799
Recurring Subscriptions | ESG and Climate
Disaggregation Of Revenue [Line Items]
Operating revenues	65,732	50,572
Recurring Subscriptions | All Other - Private Assets
Disaggregation Of Revenue [Line Items]
Operating revenues	38,334	36,891
Asset-based Fees
Disaggregation Of Revenue [Line Items]
Operating revenues	133,126	145,053
Asset-based Fees | Index
Disaggregation Of Revenue [Line Items]
Operating revenues	133,126	145,053
Asset-based Fees | Analytics
Disaggregation Of Revenue [Line Items]
Operating revenues	0	0
Asset-based Fees | ESG and Climate
Disaggregation Of Revenue [Line Items]
Operating revenues	0	0
Asset-based Fees | All Other - Private Assets
Disaggregation Of Revenue [Line Items]
Operating revenues	0	0
Non-recurring
Disaggregation Of Revenue [Line Items]
Operating revenues	13,845	15,132
Non-recurring | Index
Disaggregation Of Revenue [Line Items]
Operating revenues	9,578	11,208
Non-recurring | Analytics
Disaggregation Of Revenue [Line Items]
Operating revenues	2,567	1,998
Non-recurring | ESG and Climate
Disaggregation Of Revenue [Line Items]
Operating revenues	1,326	1,457
Non-recurring | All Other - Private Assets
Disaggregation Of Revenue [Line Items]
Operating revenues	$ 374	$ 469

REVENUE RECOGNITION - Schedule

REVENUE RECOGNITION - Schedule of Change in Accounts Receivable and Current Deferred Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accounts receivable, net of allowances
Accounts receivable, beginning balance	$ 663,236	$ 664,511
Accounts receivable, ending balance	641,584	592,326
Accounts receivable, increase/(decrease)	(21,652)	(72,185)
Deferred revenue
Deferred revenue, beginning balance	882,886	824,912
Deferred revenue, ending balance	920,255	832,203
Deferred revenue, increase/(decrease)	$ 37,369	$ 7,291

REVENUE RECOGNITION - Narrative

REVENUE RECOGNITION - Narrative (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Revenue Recognition [Line Items]
Revenue recognized during period included in deferred revenue	$ 356.6	$ 339.7
Disclosure of remaining performance policy	For contracts that have a duration of one year or less, the Company has not disclosed either the remaining performance obligation as of the end of the reporting period or when the Company expects to recognize the revenue.
Other Non-Current Liabilities
Revenue Recognition [Line Items]
Long-term deferred revenue	$ 30		$ 29.4

REVENUE RECOGNITION - Schedul_2

REVENUE RECOGNITION - Schedule of Remaining Performance Obligations (Detail) $ in Thousands	Mar. 31, 2023 USD ($)
Revenue Recognition [Line Items]
Remaining performance obligations	$ 1,395,823
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-04-01
Revenue from Contract with Customer [Abstract]
Remaining performance, expected timing of satisfaction	1 year
Revenue Recognition [Line Items]
Remaining performance obligations	$ 673,206
Remaining performance, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-04-01
Revenue from Contract with Customer [Abstract]
Remaining performance, expected timing of satisfaction	1 year
Revenue Recognition [Line Items]
Remaining performance obligations	$ 408,154
Remaining performance, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-04-01
Revenue from Contract with Customer [Abstract]
Remaining performance, expected timing of satisfaction	1 year
Revenue Recognition [Line Items]
Remaining performance obligations	$ 188,184
Remaining performance, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2026-04-01
Revenue from Contract with Customer [Abstract]
Remaining performance, expected timing of satisfaction
Revenue Recognition [Line Items]
Remaining performance obligations	$ 126,279
Remaining performance, expected timing of satisfaction

EARNINGS PER COMMON SHARE (Deta

EARNINGS PER COMMON SHARE (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Net income	$ 238,728	$ 228,423
Basic weighted average common shares outstanding (in shares)	80,041	81,591
Basic weighted average common shares outstanding
PSUs, RSUs and PSOs (in shares)	441	695
Diluted (in USD per share)	80,482	82,286
Earnings per share:
Basic (in USD per share)	$ 2.98	$ 2.80
Diluted (in USD per share)	$ 2.97	$ 2.78

PROPERTY, EQUIPMENT AND LEASE_3

PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET - Schedule of Property, Equipment and Leasehold Improvements, Net (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Computer & related equipment	$ 183,739	$ 181,710
Furniture & fixtures	14,429	14,078
Leasehold improvements	54,662	54,040
Work-in-process	9,409	2,373
Subtotal	262,239	252,201
Accumulated depreciation and amortization	(203,400)	(198,348)
Property, equipment and leasehold improvements, net	$ 58,839	$ 53,853

PROPERTY, EQUIPMENT AND LEASE_4

PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET - Narrative (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation and amortization of property, equipment and leasehold improvements	$ 5,460	$ 6,534

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS, NET - Schedule of Change to Company's Goodwill (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 2,229,670
Foreign exchange translation adjustment	1,367
Goodwill, ending balance	2,231,037
Index
Goodwill [Roll Forward]
Goodwill, beginning balance	1,201,622
Foreign exchange translation adjustment	846
Goodwill, ending balance	1,202,468
Analytics
Goodwill [Roll Forward]
Goodwill, beginning balance	290,976
Foreign exchange translation adjustment	0
Goodwill, ending balance	290,976
ESG and Climate
Goodwill [Roll Forward]
Goodwill, beginning balance	48,047
Foreign exchange translation adjustment	0
Goodwill, ending balance	48,047
All Other - Private Assets
Goodwill [Roll Forward]
Goodwill, beginning balance	689,025
Foreign exchange translation adjustment	521
Goodwill, ending balance	$ 689,546

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS, NET - Schedule of Amortization Expense Related to Intangible Assets by Category (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 24,667	$ 21,720
Amortization expense of acquired intangible assets
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets	15,831	15,898
Amortization expense of internally developed capitalized software
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 8,836	$ 5,822

GOODWILL AND INTANGIBLE ASSET_5

GOODWILL AND INTANGIBLE ASSETS, NET - Schedule of Gross Carrying and Accumulated Amortization Amounts Related to Company's Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Acquired Finite Lived Intangible Assets [Line Items]
Gross carrying value excluding foreign exchange translation adjustment	$ 1,353,088	$ 1,336,616
Foreign exchange translation adjustment	(11,550)	(13,214)
Total gross intangible assets	1,341,538	1,323,402
Accumulated amortization excluding foreign exchange translation adjustment	(794,023)	(769,356)
Foreign exchange translation adjustment	3,497	4,471
Total accumulated amortization	(790,526)	(764,885)
Net carrying value excluding foreign exchange translation adjustment	559,065	567,260
Foreign exchange translation adjustment	(8,053)	(8,743)
Total net intangible assets	551,012	558,517
Customer relationships
Acquired Finite Lived Intangible Assets [Line Items]
Gross carrying value excluding foreign exchange translation adjustment	532,500	532,500
Accumulated amortization excluding foreign exchange translation adjustment	(316,078)	(308,437)
Net carrying value excluding foreign exchange translation adjustment	216,422	224,063
Proprietary data
Acquired Finite Lived Intangible Assets [Line Items]
Gross carrying value excluding foreign exchange translation adjustment	220,778	220,778
Accumulated amortization excluding foreign exchange translation adjustment	(46,550)	(41,783)
Net carrying value excluding foreign exchange translation adjustment	174,228	178,995
Acquired technology and software
Acquired Finite Lived Intangible Assets [Line Items]
Gross carrying value excluding foreign exchange translation adjustment	209,220	209,220
Accumulated amortization excluding foreign exchange translation adjustment	(180,862)	(179,833)
Net carrying value excluding foreign exchange translation adjustment	28,358	29,387
Trademarks
Acquired Finite Lived Intangible Assets [Line Items]
Gross carrying value excluding foreign exchange translation adjustment	208,190	208,190
Accumulated amortization excluding foreign exchange translation adjustment	(164,438)	(162,044)
Net carrying value excluding foreign exchange translation adjustment	43,752	46,146
Internally developed capitalized software
Acquired Finite Lived Intangible Assets [Line Items]
Gross carrying value excluding foreign exchange translation adjustment	182,400	165,928
Accumulated amortization excluding foreign exchange translation adjustment	(86,095)	(77,259)
Net carrying value excluding foreign exchange translation adjustment	$ 96,305	$ 88,670

GOODWILL AND INTANGIBLE ASSET_6

GOODWILL AND INTANGIBLE ASSETS, NET - Estimated Amortization Expense for Remainder of 2022 and Succeeding Years (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2023	$ 78,701
2024	97,591
2025	72,243
2026	39,846
2027	36,275
Thereafter	226,356
Total net intangible assets	$ 551,012	$ 558,517

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Schedule of Senior Unsecured Notes (Detail) - USD ($)		3 Months Ended
	Jun. 09, 2022	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Principal amount outstanding		$ 4,545,625,000
Carrying Value		4,510,891,000	$ 4,511,947,000
Fair Value		4,022,091,000	3,850,132,000
Current portion of long-term debt		$ 8,715,000	8,713,000
4.000% senior unsecured notes due 2029
Debt Instrument [Line Items]
Debt instrument interest rate		400%
Maturity Date		Nov. 15, 2029
Principal amount outstanding		$ 1,000,000,000
Carrying Value		992,818,000	992,546,000
Fair Value		$ 913,500,000	876,240,000
3.625% senior unsecured notes due 2030
Debt Instrument [Line Items]
Debt instrument interest rate		362.50%
Maturity Date		Sep. 01, 2030
Principal amount outstanding		$ 900,000,000
Carrying Value		895,091,000	894,925,000
Fair Value		$ 783,216,000	751,113,000
3.875% senior unsecured notes due 2031
Debt Instrument [Line Items]
Debt instrument interest rate		387.50%
Maturity Date		Feb. 15, 2031
Principal amount outstanding		$ 1,000,000,000
Carrying Value		991,340,000	991,067,000
Fair Value		$ 891,050,000	833,130,000
3.625% senior unsecured notes due 2031
Debt Instrument [Line Items]
Debt instrument interest rate		362.50%
Maturity Date		Nov. 01, 2031
Principal amount outstanding		$ 600,000,000
Carrying Value		594,359,000	594,195,000
Fair Value		$ 514,356,000	500,880,000
3.250% senior unsecured notes due 2033
Debt Instrument [Line Items]
Debt instrument interest rate		325%
Maturity Date		Aug. 15, 2033
Principal amount outstanding		$ 700,000,000
Carrying Value		693,030,000	692,862,000
Fair Value		$ 576,072,000	542,696,000
Variable rate Tranche A Term Loans due 2027
Debt Instrument [Line Items]
Maturity Date	Feb. 16, 2027	Feb. 16, 2027
Principal amount outstanding		$ 345,625,000
Carrying Value		344,253,000	346,352,000
Fair Value		$ 343,897,000	$ 346,073,000

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Narrative (Detail) - USD ($)		3 Months Ended
	Jun. 09, 2022	Mar. 31, 2023
Schedule Of Commitments And Contingencies [Line Items]
Debt instrument principal amount		$ 4,545,625,000
Deferred financing fees and premium remain unamortized		36,800,000
Prepaid and Other Assets
Schedule Of Commitments And Contingencies [Line Items]
Deferred financing fees and premium remain unamortized		500,000
Other Non-Current Assets
Schedule Of Commitments And Contingencies [Line Items]
Deferred financing fees and premium remain unamortized		1,500,000
Long-term Debt
Schedule Of Commitments And Contingencies [Line Items]
Deferred financing fees and premium remain unamortized		34,800,000
Revolving Loan Commitments | Revolving Credit Facility
Schedule Of Commitments And Contingencies [Line Items]
Line of credit facility, maximum borrowing capacity	$ 500,000,000
Variable rate Tranche A Term Loans due 2027
Schedule Of Commitments And Contingencies [Line Items]
Debt instrument principal amount		$ 345,625,000
Debt instrument maturity	Feb. 16, 2027	Feb. 16, 2027
Interest rate on TLA Facility		6.84%
Variable rate Tranche A Term Loans due 2027 | Minimum | Secured Overnight Financing Rate (SOFR)
Schedule Of Commitments And Contingencies [Line Items]
Debt instrument, basis spread on variable rate	1.50%
Variable rate Tranche A Term Loans due 2027 | Minimum | Base Rate
Schedule Of Commitments And Contingencies [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Variable rate Tranche A Term Loans due 2027 | Maximum | Secured Overnight Financing Rate (SOFR)
Schedule Of Commitments And Contingencies [Line Items]
Debt instrument, basis spread on variable rate	2%
Variable rate Tranche A Term Loans due 2027 | Maximum | Base Rate
Schedule Of Commitments And Contingencies [Line Items]
Debt instrument, basis spread on variable rate	1%
Senior Unsecured Notes
Schedule Of Commitments And Contingencies [Line Items]
Debt instrument principal amount		$ 4,200,000,000
TLA Facility
Schedule Of Commitments And Contingencies [Line Items]
Debt instrument principal amount		$ 345,600,000

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES - Schedule of Maturities of Long-Term Debt (Details)	Mar. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remainder of 2023	$ 6,562,000
2024	10,938,000
2025	19,687,000
2026	26,250,000
2027	282,188,000
Thereafter	4,200,000,000
Total debt	$ 4,545,625,000

COMMITMENTS AND CONTINGENCIES_4

COMMITMENTS AND CONTINGENCIES - Schedule of Interest Payments Due Attributable to Outstanding Indebtedness (Detail)	3 Months Ended
	Mar. 31, 2023
4.000% senior unsecured notes due 2029
Debt Instrument [Line Items]
Debt instrument interest rate	400%
Interest payment frequency	Semi-Annual
First interest payment date	--05-15
3.625% senior unsecured notes due 2030
Debt Instrument [Line Items]
Debt instrument interest rate	362.50%
Interest payment frequency	Semi-Annual
First interest payment date	--03-01
3.875% senior unsecured notes due 2031
Debt Instrument [Line Items]
Debt instrument interest rate	387.50%
Interest payment frequency	Semi-Annual
First interest payment date	--06-01
3.625% senior unsecured notes due 2031
Debt Instrument [Line Items]
Debt instrument interest rate	362.50%
Interest payment frequency	Semi-Annual
First interest payment date	--05-01
3.250% senior unsecured notes due 2033
Debt Instrument [Line Items]
Debt instrument interest rate	325%
Interest payment frequency	Semi-Annual
First interest payment date	--02-15
Variable rate Tranche A Term Loans due 2027
Debt Instrument [Line Items]
Interest payment frequency	Variable
First interest payment date	--07-11

LEASES - Narrative (Detail)

LEASES - Narrative (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Operating lease, expense	$ 7.1	$ 7.7

LEASES - Summary of Maturities

LEASES - Summary of Maturities of Operating Lease Liability (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Maturity of Lease Liabilities
Remainder of 2023	$ 21,258
2024	25,085
2025	23,817
2026	22,133
2027	17,288
Thereafter	66,535
Total lease payments	176,116
Less: Interest	(22,725)
Present value of lease liabilities	153,391
Other accrued liabilities	22,820
Long-term operating lease liabilities	$ 130,571	$ 131,575

LEASES - Summary of Weighted-Av

LEASES - Summary of Weighted-Average Remaining Lease Term and Discount Rate Under Operating Leases (Detail)	Mar. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Weighted-average remaining lease term (years)	7 years 7 months 28 days	7 years 10 months 9 days
Weighted-average discount rate	3.45%	3.40%

LEASES - Summary of Other Infor

LEASES - Summary of Other Information Under Operating Lease (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Operating cash flows used for operating leases	$ 7,408	$ 7,152
Right of use assets obtained in exchange for new operating lease liabilities	$ 3,432	$ 0

SHAREHOLDERS' EQUITY (DEFICIT_2

SHAREHOLDERS' EQUITY (DEFICIT) - Narrative (Detail) - USD ($)	Mar. 31, 2023	Jul. 28, 2022
Two Thousand Twenty Two Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Repurchase program authorizing the purchase of shares		$ 1,000,000,000
Stock repurchase program, remaining authorized repurchase amount	$ 1,304,400,000	1,539,100,000
2020 Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, remaining authorized repurchase amount		$ 539,100,000

SHAREHOLDERS' EQUITY (DEFICIT_3

SHAREHOLDERS' EQUITY (DEFICIT) - Schedule of Company's Common Stock Repurchases Made on Open Market (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Equity, Class of Treasury Stock [Line Items]
Dollar Value of Shares Repurchased	$ 0	$ 772,657
Open Market Purchases of Common Stock
Equity, Class of Treasury Stock [Line Items]
Average Price Paid Per Share (USD per Share)	$ 0	$ 515.74
Total Number of Shares Repurchased	0	1,498
Dollar Value of Shares Repurchased	$ 0	$ 772,657

SHAREHOLDERS' EQUITY (DEFICIT_4

SHAREHOLDERS' EQUITY (DEFICIT) - Schedule of Dividends Declared Per Common Share and Total Amounts Declared, Distributed and Deferred (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Equity [Abstract]
Dividend declared per common share (in USD per share)	$ 1.38	$ 1.04
Dividends declared, Amount	$ 111,986	$ 87,280
Dividends distributed, Amount	112,189	87,846
Cash dividends (released)/deferred, Amount	$ (203)	$ (566)

SHAREHOLDERS' EQUITY (DEFICIT_5

SHAREHOLDERS' EQUITY (DEFICIT) - Summary of Activity Related to Shares of Common Stock Issued and Repurchased (Detail)	3 Months Ended
	Mar. 31, 2023 shares
Movement In Equity Shares [Roll Forward]
Beginning balance (in shares)	133,623,005
Beginning balance (in shares)	(53,663,016)
Beginning balance (in shares)	79,959,989
Ending balance (in shares)	133,804,962
Ending balance (in shares)	(53,741,918)
Ending balance (in shares)	80,063,044
Common Stock Issued
Movement In Equity Shares [Roll Forward]
Beginning balance (in shares)	133,623,005
Dividend payable/paid (in shares)	24
Common stock issued (in shares)	181,875
Shares issued to directors (in shares)	58
Ending balance (in shares)	133,804,962
Treasury Stock
Movement In Equity Shares [Roll Forward]
Beginning balance (in shares)	(53,663,016)
Shares withheld for tax withholding (in shares)	(78,844)
Shares issued to directors (in shares)	58
Ending balance (in shares)	(53,741,918)
Common Stock Outstanding
Movement In Equity Shares [Roll Forward]
Beginning balance (in shares)	79,959,989
Dividend payable/paid (in shares)	24
Common stock issued (in shares)	181,875
Shares withheld for tax withholding (in shares)	(78,844)
Ending balance (in shares)	80,063,044

INCOME TAXES (Detail)

INCOME TAXES (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 37,644	$ 20,520
Effective tax rate	13.60%	8.20%
Amounts effect on effective tax rate	$ 16,500	$ 28,100
Amount of excess tax benefits recognized on share-based compensation vested	11,100	28,300
Effective income tax rate reconciliation, tax settlement, amount	4,600
Decrease in unrecognized tax benefits is reasonably possible	$ 24,000
Unrecognized tax benefits, decrease resulting from settlements with taxing authorities		$ 3,800

SEGMENT INFORMATION - Narrative

SEGMENT INFORMATION - Narrative (Detail)	3 Months Ended
	Mar. 31, 2023 Segment
Segment Reporting [Abstract]
Number of operating segments	5
Number of reportable segments	4

SEGMENT INFORMATION - Operating

SEGMENT INFORMATION - Operating Revenues by Reportable Segment (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating revenues	$ 592,218	$ 559,945
Index
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating revenues	339,382	330,759
Analytics
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating revenues	147,070	139,797
ESG and Climate
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating revenues	67,058	52,029
All Other - Private Assets
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating revenues	$ 38,708	$ 37,360

SEGMENT INFORMATION - Segment P

SEGMENT INFORMATION - Segment Profitability and Reconciliation to Net Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
Adjusted EBITDA	$ 344,729	$ 318,544
Amortization of intangible assets	24,667	21,720
Depreciation and amortization of property, equipment and leasehold improvements	5,460	6,534
Acquisition-related integration and transaction costs	0	1,312
Operating income	314,602	288,978
Other expense (income), net	38,230	40,035
Provision for income taxes	37,644	20,520
Net income	238,728	228,423
Index
Segment Reporting Information [Line Items]
Adjusted EBITDA	253,682	245,875
Analytics
Segment Reporting Information [Line Items]
Adjusted EBITDA	60,780	50,889
ESG and Climate
Segment Reporting Information [Line Items]
Adjusted EBITDA	17,876	12,092
All Other - Private Assets
Segment Reporting Information [Line Items]
Adjusted EBITDA	$ 12,391	$ 9,688

SEGMENT INFORMATION - Operati_2

SEGMENT INFORMATION - Operating Revenues by Geographic Area (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues	$ 592,218	$ 559,945
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues	238,416	233,356
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues	27,536	22,467
Total Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues	265,952	255,823
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues	91,660	86,986
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues	138,319	131,573
Total EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues	229,979	218,559
Japan
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues	26,017	23,190
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues	70,270	62,373
Total Asia & Australia
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues	$ 96,287	$ 85,563

SEGMENT INFORMATION - Long-Live

SEGMENT INFORMATION - Long-Lived Assets by Geographic Area (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 279,720	$ 267,811
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	189,687	179,453
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	12,132	11,971
Total Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	201,819	191,424
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	19,270	19,674
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	22,764	23,099
Total EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	42,034	42,773
Japan
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	1,585	652
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	34,282	32,962
Total Asia & Australia
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 35,867	$ 33,614

SUBSEQUENT EVENTS (Detail)

SUBSEQUENT EVENTS (Detail) - $ / shares		3 Months Ended
	Apr. 24, 2023	Mar. 31, 2023	Mar. 31, 2022
Subsequent Event [Line Items]
Dividend declared per common share (in USD per share)		$ 1.38	$ 1.04
Subsequent Event
Subsequent Event [Line Items]
Dividend declared per common share (in USD per share)	$ 1.38