MSCI (MSCI) 10-Q 28 Apr 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2021	Apr. 20, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Trading Symbol	MSCI
Entity Registrant Name	MSCI INC.
Entity Central Index Key	0001408198
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		82,422,647
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	001-33812
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
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE
Title of 12(b) Security	Common stock, par value $0.01 per share
Security Exchange Name	NYSE
Document Quarterly Report	true
Document Transition Report	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 1,747,147	$ 1,300,521
Accounts receivable, net of allowances	506,849	558,569
Prepaid income taxes	13,657	20,097
Prepaid and other assets	38,986	46,411
Total current assets	2,306,639	1,925,598
Property, equipment and leasehold improvements, net	75,712	80,446
Right of use assets	150,716	153,330
Goodwill	1,566,541	1,566,022
Intangible assets, net	229,595	234,748
Equity method investment	187,889	190,898
Deferred tax assets	24,131	23,627
Other non-current assets	24,306	23,978
Total assets	4,565,529	4,198,647
Current liabilities:
Accounts payable	7,259	14,253
Income taxes payable	25,764	26,195
Accrued compensation and related benefits	66,392	161,557
Current maturities of long-term debt	496,425
Other accrued liabilities	157,433	143,894
Deferred revenue	672,054	675,870
Total current liabilities	1,425,327	1,021,769
Long-term debt	3,369,469	3,366,777
Long-term operating lease liabilities	149,296	152,342
Deferred tax liabilities	14,414	12,774
Other non-current liabilities	88,605	88,219
Total liabilities	5,047,111	4,641,881
Commitments and Contingencies (see Note 7)
Shareholders' equity (deficit):
Preferred stock (par value $0.01, 100,000,000 shares authorized; no shares issued)
Common stock (par value $0.01; 750,000,000 common shares authorized; 133,130,562 and 132,829,175 common shares issued and 82,422,314 and 82,573,407 common shares outstanding at March 31, 2021 and December 31, 2020, respectively)	1,331	1,328
Treasury shares, at cost (50,708,248 and 50,255,768 common shares held at March 31, 2021 and December 31, 2020, respectively)	(4,529,709)	(4,342,535)
Additional paid in capital	1,421,445	1,402,537
Retained earnings	2,685,167	2,554,295
Accumulated other comprehensive loss	(59,816)	(58,859)
Total shareholders' equity (deficit)	(481,582)	(443,234)
Total liabilities and shareholders' equity (deficit)	$ 4,565,529	$ 4,198,647

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Financial Condition (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	750,000,000	750,000,000
Common stock, shares issued	133,130,562	132,829,175
Common stock, shares outstanding	82,422,314	82,573,407
Treasury shares	50,708,248	50,255,768

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Operating revenues	$ 478,423	$ 416,780
Operating expenses:
Cost of revenues	85,780	74,609
Selling and marketing	56,467	55,549
Research and development	24,862	26,562
General and administrative	34,728	30,833
Amortization of intangible assets	15,068	13,776
Depreciation and amortization of property, equipment and leasehold improvements	7,143	7,567
Total operating expenses	224,048	208,896
Operating income	254,375	207,884
Interest income	(386)	(3,483)
Interest expense	37,584	40,231
Other expense (income)	1,149	8,287
Other expense (income), net	38,347	45,035
Income before provision for income taxes	216,028	162,849
Provision for income taxes	19,209	14,724
Net income	$ 196,819	$ 148,125
Earnings per basic common share	$ 2.38	$ 1.75
Earnings per diluted common share	$ 2.36	$ 1.73
Weighted average shares outstanding used in computing earnings per share
Basic	82,640	84,870
Diluted	83,493	85,548

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 196,819	$ 148,125
Other comprehensive (loss) income:
Foreign currency translation adjustments	(1,705)	(12,363)
Income tax effect	612	2,468
Foreign currency translation adjustments, net	(1,093)	(9,895)
Pension and other post-retirement adjustments	256	306
Income tax effect	(120)	(36)
Pension and other post-retirement adjustments, net	136	270
Other comprehensive (loss) income, net of tax	(957)	(9,625)
Comprehensive income	$ 195,862	$ 138,500

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Shareholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment [Member]	Common Stock [Member]	Treasury Stock [Member]	Additional Paid In Capital [Member]	Retained Earnings [Member]	Retained Earnings [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance at Dec. 31, 2019	$ (76,714)	$ 631	$ 1,324	$ (3,565,784)	$ 1,351,031	$ 2,199,294	$ 631	$ (62,579)
Net income	148,125					148,125
Dividends declared	(59,233)					(59,233)
Dividends paid in shares	78				78
Other comprehensive income (loss), net of tax	(9,625)							(9,625)
Common stock issued	4		4
Shares withheld for tax withholding and exercises	(47,195)			(47,195)
Compensation payable in common stock	15,333				15,333
Common stock repurchased and held in treasury	(325,699)			(325,699)
Common stock issued to Directors and (held in)/released from treasury	(36)			(36)
Balance at Mar. 31, 2020	(354,331)		1,328	(3,938,714)	1,366,442	2,288,817		(72,204)
Balance at Dec. 31, 2020	(443,234)		1,328	(4,342,535)	1,402,537	2,554,295		(58,859)
Net income	196,819					196,819
Dividends declared	(65,947)					(65,947)
Dividends paid in shares	66				66
Other comprehensive income (loss), net of tax	(957)							(957)
Common stock issued	3		3
Shares withheld for tax withholding and exercises	(52,814)			(52,814)
Compensation payable in common stock	18,842				18,842
Common stock repurchased and held in treasury	(134,340)			(134,340)
Common stock issued to Directors and (held in)/released from treasury	(20)			(20)
Balance at Mar. 31, 2021	$ (481,582)		$ 1,331	$ (4,529,709)	$ 1,421,445	$ 2,685,167		$ (59,816)

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Shareholders' Equity (Deficit) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement Of Stockholders Equity [Abstract]
Dividends per common share	$ 0.78	$ 0.68

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities
Net income	$ 196,819	$ 148,125
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of intangible assets	15,068	13,776
Stock-based compensation expense	18,910	15,163
Depreciation and amortization of property, equipment and leasehold improvements	7,143	7,567
Amortization of right of use assets	6,128	5,989
Amortization of debt origination fees	1,107	1,089
Loss on extinguishment of debt		9,966
Deferred taxes	1,142	(5,165)
Other adjustments	3,363	337
Changes in assets and liabilities:
Accounts receivable	50,630	15,926
Prepaid income taxes	6,312	3,330
Prepaid and other assets	5,611	296
Accounts payable	(7,901)	(1,536)
Accrued compensation and related benefits	(94,323)	(98,658)
Income taxes payable	1,709	2,229
Other accrued liabilities	12,888	(3,563)
Deferred revenue	(2,790)	2,252
Long-term operating lease liabilities	(5,898)	(6,078)
Other	(461)	1,725
Net cash provided by operating activities	215,457	112,770
Cash flows from investing activities
Acquisition of equity method investment		(190,822)
Capitalized software development costs	(9,696)	(7,203)
Capital expenditures	(664)	(3,613)
Net cash used in investing activities	(10,360)	(201,638)
Cash flows from financing activities
Proceeds from borrowings, inclusive of premium	503,750	405,000
Repayment of borrowings		(307,875)
Repurchase of common stock held in treasury	(187,154)	(372,894)
Payment of dividends	(66,087)	(59,378)
Payment of debt issuance costs in connection with debt	(4,967)	(4,934)
Net cash provided by (used in) financing activities	245,542	(340,081)
Effect of exchange rate changes	(4,013)	(10,762)
Net increase (decrease) in cash	446,626	(439,711)
Cash and cash equivalent, beginning of period	1,300,521	1,506,567
Cash and cash equivalent, end of period	1,747,147	1,066,856
Supplemental disclosure of cash flow information:
Cash paid for interest	19,326	40,495
Cash paid for income taxes, net of refunds received	9,014	5,684
Supplemental disclosure of non-cash investing activities
Property, equipment and leasehold improvements in other accrued liabilities	3,687	4,987
Supplemental disclosure of non-cash financing activities
Cash dividends declared, but not yet paid	$ 1,208	$ 616

Introduction and Basis of Prese

Introduction and Basis of Presentation	3 Months Ended
	Mar. 31, 2021
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”) provides critical decision support tools and services that bring greater transparency to the global financial markets. MSCI’s tools and services include indexes; portfolio construction tools and risk-management services; environmental, social and governance (“ESG”) and climate solutions; and real estate benchmarks, return analytics services and market insights; much of which can be accessed by clients through multiple channels and platforms. Basis of Presentation and Use of Estimates These unaudited condensed consolidated financial statements include the accounts of MSCI and its wholly owned subsidiaries and include all adjustments of a normal, recurring nature necessary to state fairly the financial condition as of March 31, 2021 and December 31, 2020, the results of operations, comprehensive income and shareholders’ equity (deficit) for the three months ended March 31, 2021 and 2020 and cash flows for the three months ended March 31, 2021 and 2020. The unaudited condensed consolidated statement of financial condition and related financial statement information as of December 31, 2020 have been derived from the 2020 audited consolidated financial statements but do not include all disclosures required by accounting principles generally accepted in the United States of America (“GAAP”). The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in MSCI’s Annual Report on Form 10-K for the year ended December 31, 2020. 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. These accounting principles require the Company to make 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 assumptions made by management include the deferral and recognition of revenue, research and development and software capitalization, assessment of impairment of long-lived assets, accrued compensation, income taxes, incremental borrowing rates and other matters that affect the unaudited condensed consolidated financial statements and related disclosures. 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. Intercompany balances and transactions are eliminated in consolidation. Certain prior period amounts have been reclassified to conform to the current period presentation. Effective January 1, 2021, the ESG and Climate operating segment is being presented as a separate reportable segment. The operating segments of Real Estate and The Burgiss Group, LLC (“Burgiss”) do not individually meet the segment reporting thresholds and have been combined and presented as part of the All Other – Private Assets reportable segment. The Company’s ownership interest in Burgiss, a global provider of investment decision tools for private capital, is classified as an equity-method investment. Therefore, the All Other – Private Assets segment does not include the Company’s proportionate share of operating revenues and Adjusted EBITDA related to Burgiss. The Company’s proportionate share of the income or loss from its equity-method investment in Burgiss is not a component of Adjusted EBITDA as it is reported as a component of other (expense) income, net. Concentrations For the three months ended March 31, 2021 and 2020, BlackRock, Inc. accounted for 12.0% and 11.3% of the Company’s consolidated operating revenues, respectively. For the three months ended March 31, 2021 and 2020, BlackRock, Inc. accounted for 19.2% and 18.5% of the Index segment operating revenues, respectively. No single customer represented 10.0% or more of operating revenues within the Analytics, ESG and Climate and All Other – Private Assets segments for the three months ended March 31, 2021 and 2020. Allowance for Credit Losses on Accounts Receivable Following the adoption of Accounting Standards Update No. 2016-13, “ Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Changes in the allowance for credit losses on doubtful accounts receivable from December 31, 2019 to March 31, 2021 were as follows: Amount (in Balance as of December 31, 2019 $ 1,715 Addition (reduction) to credit loss expense 1,712 Write-offs, net of recoveries (1,844 ) Balance as of December 31, 2020 $ 1,583 Addition (reduction) to credit loss expense 290 Adjustments and write-offs, net of recoveries (137 ) Balance as of March 31, 2021 $ 1,736

Recent Accounting Standards Upd

Recent Accounting Standards Updates	3 Months Ended
	Mar. 31, 2021
Accounting Changes And Error Corrections [Abstract]
Recent Accounting Standards Updates	2. RECENT ACCOUNTING STANDARDS UPDATES There are no pending accounting standards updates that are currently expected to have a material impact on the Company.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2021
Revenue From Contract With Customer [Abstract]
Revenue Recognition	3. REVENUE RECOGNITION MSCI’s revenues are characterized by product type, which broadly reflects the nature of how they are recognized. The Company’s revenue types are recurring subscription, asset-based fees and non-recurring revenues. The Company also reports revenues by segment. The tables that follow present the disaggregated revenues for the periods indicated: For the Three Months ended March 31, 2021 Segments (in thousands) Index Analytics ESG and Climate All Other - Private Assets Total Revenue Types Recurring subscriptions $ 155,117 $ 131,672 $ 34,140 $ 16,803 $ 337,732 Asset-based fees 126,706 — — — 126,706 Non-recurring 10,668 2,345 610 362 13,985 Total $ 292,491 $ 134,017 $ 34,750 $ 17,165 $ 478,423 For the Three Months ended March 31, 2020 Segments (in thousands) Index Analytics ESG and Climate All Other - Private Assets Total Revenue Types Recurring subscriptions $ 139,840 $ 124,065 $ 24,901 $ 15,619 $ 304,425 Asset-based fees 100,196 — — — 100,196 Non-recurring 9,220 1,443 332 1,164 12,159 Total $ 249,256 $ 125,508 $ 25,233 $ 16,783 $ 416,780 The tables that follow present the change in accounts receivable and in deferred revenue between the dates indicated: Accounts receivable Deferred revenue (in thousands) Opening (12/31/2020) $ 558,569 $ 675,870 Closing (03/31/2021) 506,849 672,054 Increase/(decrease) $ (51,720 ) $ (3,816 ) Accounts receivable Deferred revenue (in thousands) Opening (12/31/2019) $ 499,268 $ 574,656 Closing (03/31/2020) 481,990 574,472 Increase/(decrease) $ (17,278 ) $ (184 ) The amounts of revenue recognized in the periods that were included in the opening current deferred revenue, which reflects contract liability amounts, were $270.3 million and $212.4 million for the three months ended March 31, 2021 and 2020, respectively. The difference between the opening and closing balances of the Company’s deferred revenue was primarily driven by an increase in the amortization of deferred revenue to operating revenues, partially offset by an increase in billings. MSCI had an insignificant long-term deferred revenue balance as of March 31, 2021, reflected as a part of “Other non-current liabilities” on its 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, 2021 (in thousands) First 12-month period $ 337,369 Second 12-month period 195,485 Third 12-month period 59,023 Periods thereafter 19,339 Total $ 611,216

Earnings Per Common Share

Earnings Per Common Share	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Earnings Per Common Share	4. EARNINGS PER COMMON SHARE Basic earnings per share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding during the period. Common shares outstanding include common stock and vested restricted stock unit awards where recipients have satisfied the explicit vesting terms. Diluted EPS reflects the assumed conversion of all dilutive securities. The following table presents the computation of basic and diluted EPS: Three Months Ended March 31, 2021 2020 (in thousands, except per share data) Net income $ 196,819 $ 148,125 Basic weighted average common shares outstanding 82,640 84,870 Effect of dilutive securities: Stock options and restricted stock units 853 678 Diluted weighted average common shares outstanding 83,493 85,548 Earnings per basic common share $ 2.38 $ 1.75 Earnings per diluted common share $ 2.36 $ 1.73

Property, Equipment and Leaseho

Property, Equipment and Leasehold Improvements, Net	3 Months Ended
	Mar. 31, 2021
Property Plant And Equipment [Abstract]
Property, Equipment and Leasehold Improvements, Net	5. PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET Property, equipment and leasehold improvements, net consisted of the following as of the specified dates: As of March 31, December 31, 2021 2020 (in thousands) Computer & related equipment $ 185,390 $ 186,786 Furniture & fixtures 14,949 15,276 Leasehold improvements 55,993 56,537 Work-in-process 1,118 2,996 Subtotal 257,450 261,595 Accumulated depreciation and amortization (181,738 ) (181,149 ) Property, equipment and leasehold improvements, net $ 75,712 $ 80,446 Depreciation and amortization expense of property, equipment and leasehold improvements was $7.1 million and $7.6 million for the three months ended March 31, 2021 and 2020, respectively.

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	3 Months Ended
	Mar. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, Net	6. 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, 2020 $ 1,205,758 $ 290,976 $ 48,047 $ 21,241 $ 1,566,022 Foreign exchange translation adjustment 321 — — 198 519 Goodwill at March 31, 2021 $ 1,206,079 $ 290,976 $ 48,047 $ 21,439 $ 1,566,541 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 March 31, (in thousands) 2021 2020 Amortization expense of acquired intangible assets $ 8,368 $ 8,778 Amortization expense of internally developed capitalized software 6,700 4,998 Total amortization of intangible assets expense $ 15,068 $ 13,776 The gross carrying and accumulated amortization amounts related to the Company’s intangible assets were as follows: As of March 31, December 31, 2021 2020 (in thousands) Gross intangible assets: Customer relationships $ 356,700 $ 356,700 Trademarks/trade names 207,300 207,300 Technology/software 300,607 290,908 Proprietary data 28,627 28,627 Subtotal 893,234 883,535 Foreign exchange translation adjustment (4,795 ) (5,262 ) Total gross intangible assets $ 888,439 $ 878,273 Accumulated amortization: Customer relationships $ (258,925 ) $ (253,465 ) Trademarks/trade names (145,490 ) (143,207 ) Technology/software (238,361 ) (231,496 ) Proprietary data (16,202 ) (15,730 ) Subtotal (658,978 ) (643,898 ) Foreign exchange translation adjustment 134 373 Total accumulated amortization $ (658,844 ) $ (643,525 ) Net intangible assets: Customer relationships $ 97,775 $ 103,235 Trademarks/trade names 61,810 64,093 Technology/software 62,246 59,412 Proprietary data 12,425 12,897 Subtotal 234,256 239,637 Foreign exchange translation adjustment (4,661 ) (4,889 ) Total net intangible assets $ 229,595 $ 234,748 The following table presents the estimated amortization expense for the remainder of the year ending December 31, 2021 and succeeding years: Years Ending December 31, Amortization Expense (in thousands) Remainder of 2021 $ 46,478 2022 55,353 2023 44,685 2024 36,164 2025 21,026 Thereafter 25,889 Total $ 229,595

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	7. COMMITMENTS AND CONTINGENCIES Senior Unsecured Notes. The Company had an aggregate of $3,900.0 million in senior unsecured notes (collectively, the “Senior Notes”) outstanding at March 31, 2021, as presented in the table below: Principal Amount Outstanding at Carrying Value at Carrying Value at Fair Value at Fair Value at Maturity Date March 31, 2021 March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 (in thousands) Long-term debt 4.75% senior unsecured notes due 2026 August 1, 2026 500,000 496,425 496,257 518,240 522,325 5.375% senior unsecured notes due 2027 May 15, 2027 500,000 495,982 495,819 535,995 538,100 4.000% senior unsecured notes due 2029 November 15, 2029 1,000,000 990,637 990,364 1,029,700 1,073,040 3.625% senior unsecured notes due 2030 September 1, 2030 900,000 893,697 395,458 917,955 419,428 3.875% senior unsecured notes due 2031 February 15, 2031 1,000,000 989,153 988,879 1,022,250 1,063,430 Total long-term debt $ 3,900,000 $ 3,865,894 $ 3,366,777 $ 4,024,140 $ 3,616,323 Interest payments attributable to the Senior Notes are due as presented in the following table: First semi-annual interest payment date Second semi-annual interest payment date Senior Notes 4.75% senior unsecured notes due 2026 February 1 August 1 5.375% senior unsecured notes due 2027 May 15 November 15 4.000% senior unsecured notes due 2029 May 15 November 15 3.625% senior unsecured notes due 2030 March 1 September 1 3.875% senior unsecured notes due 2031 June 1 December 1 The fair market value of the Company’s debt obligations represent Level 2 valuations. The Company utilizes the market approach and obtains security pricing from a vendor who uses broker quotes and third-party pricing services to determine fair values. On March 26, 2021, the Company issued $500.0 million aggregate principal amount of 3.625% Senior Unsecured Notes due 2030 (the “2030 Senior Notes”), which constitute a further issuance of, are fully fungible with, rank equally with and form a single series with the $400.0 million aggregate principal amount of the 3.625% senior unsecured notes due 2030 issued on March 4, 2020. In connection with the completion of the offering, the Company announced that it intended to use a portion of the net proceeds from the offering, together with available cash, for the pre-maturity redemption or repurchase of all $500.0 million aggregate principal amount outstanding of its 4.750% senior unsecured notes due 2026 (the “2026 Senior Notes”). On April 12, 2021 the Company completed the pre-maturity redemption of all of its 2026 Senior Notes, which will be reflected in the three months ending June 30, 2021. The pre-maturity redemption of the 2026 Senior Notes will result in an approximately $21.8 million loss on extinguishment that will be recorded in other expense (income) during the three months ending June 30, 2021, which includes an applicable premium of approximately $18.2 million (as set forth in the indenture governing the terms of the 2026 Senior Notes) and the write-off of approximately $3.6 million of unamortized debt issuance costs associated with the 2026 Senior Notes. The 2030 Senior Notes are scheduled to mature and be paid in full on September 1, 2030. At any time prior to March 1, 2025, the Company may redeem all or part of the 2030 Senior Notes at a redemption price equal to the sum of (i) 100% of the principal amount thereof, plus (ii) a make-whole premium as of the date of redemption, plus (iii) accrued and unpaid interest and additional interest, if any, thereon, to the date of redemption. In addition, the Company may redeem all or part of the 2030 Senior Notes, together with accrued and unpaid interest, on or after March 1, 2025, at redemption prices set forth in the indenture governing the 2030 Senior Notes. At any time prior to March 1, 2023, the Company may use the proceeds of certain equity offerings to redeem up to 35% of the aggregate principal amount of the 2030 Senior Notes, including any permitted additional notes, at a redemption price equal to 103.625% of the principal amount plus accrued and unpaid interest, if any, to the redemption date. Revolver. Since November 20, 2014, the Company has maintained a revolving credit agreement with a syndicate of banks (as amended, the “Revolving Credit Agreement”). On March 29, 2021, the Company entered into Amendment No. 4 (the “Fourth Amendment”) to the Revolving Credit Agreement. The Fourth Amendment, among other things, (i) increased aggregate commitments available to be borrowed by $100.0 million to an aggregate of $500.0 million of availability thereunder until November 2024, at which point the aggregate commitments will be $ 467.5 million, and (ii) extended the term to March 2026 . At March 31, 2021 , the Revolving Credit Agreement was undrawn. In connection with the closings of the Senior Notes offerings, entry into the Revolving Credit Agreement and the subsequent Amendments, 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, 2021, $36.5 million of the deferred financing fees and premium remain unamortized, $0.5 million of which is included in “Prepaid and other assets,” $1.9 million of which is included in “Other non-current assets,” $3.6 million of which is included in “Current maturities of long-term debt” and $30.5 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, 2021
Leases [Abstract]
Leases	8. LEASES The Company recognized a total of $7.6 million and $9.0 million of operating lease expenses for the three months ended March 31, 2021 and 2020, 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, 2021 and 2020. Future minimum commitments for the Company’s operating leases in place as of March 31, 2021, the interest and other relevant line items in the Unaudited Condensed Consolidated Statement of Financial Condition are as follows: Maturity of Lease Liabilities Operating (in thousands) Leases Remainder of 2021 $ 20,543 2022 26,447 2023 25,334 2024 20,008 2025 19,528 Thereafter 88,134 Total lease payments $ 199,994 Less: Interest (28,363 ) Present value of lease liabilities $ 171,631 Other accrued liabilities $ 22,335 Long-term operating lease liabilities $ 149,296 Lease term and discount rate for the Company’s operating leases in place as of March 31, 2021 are as follows: As of March 31, Lease Term and Discount Rate 2021 Weighted-average remaining lease term (years) 8.83 Weighted-average discount rate 3.32 % Other information for the Company’s operating leases in place for the three months ended March 31, 2021 are as follows: Three Months Ended Other Information March 31, (in thousands) 2021 Operating cash flows used for operating leases $ 7,632 Leased assets obtained in exchange for new operating lease liabilities $ 4,144

Shareholders' Equity (Deficit)

Shareholders' Equity (Deficit)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Shareholders' Equity (Deficit)	9. SHAREHOLDERS’ EQUITY (DEFICIT) Return of capital On October 29, 2020, the Board of Directors authorized a stock repurchase program for the purchase of up to $1,000.0 million worth of shares of MSCI’s common stock in addition to the $804.5 million of authorization then remaining under a previously existing share repurchase program (the “2020 Repurchase Program”) for a total of $1,804.5 million of stock repurchase authorization. Share repurchases made pursuant to the 2020 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, 2021, there was $1,594.4 million of available authorization remaining under the 2020 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 Price Paid Per Share Total Number of Shares Repurchased Dollar Value of Shares Repurchased (in thousands) March 31, 2021 $ 407.70 330 $ 134,340 March 31, 2020 $ 248.65 1,310 $ 325,699 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 amounts) Per Share Declared Distributed (Released)/Deferred Three Months Ended March 31, 2021 $ 0.78 $ 65,947 $ 66,153 $ (206 ) Three Months Ended March 31, 2020 $ 0.68 $ 59,233 $ 59,455 $ (222 ) Common Stock. The following table presents activity related to shares of common stock issued and repurchased during the three months ended March 31, 2021: Common Stock Treasury Common Stock Issued Stock Outstanding Balance at December 31, 2020 132,829,175 (50,255,768 ) 82,573,407 Dividend payable/paid 160 (48 ) 112 Common stock issued 301,227 — 301,227 Shares withheld for tax withholding — (122,924 ) (122,924 ) Shares repurchased under stock repurchase programs — (329,508 ) (329,508 ) Shares issued to directors — — — Balance at March 31, 2021 133,130,562 (50,708,248 ) 82,422,314

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	10. INCOME TAXES The Company’s provision for income taxes was $19.2 million and $14.7 million for the three months ended March 31, 2021 and 2020, respectively. These amounts reflect effective tax rates of 8.9% and 9.0% for the three months ended March 31, 2021 and 2020, respectively. The effective tax rate of 8.9% for the three months ended March 31, 2021 reflects the Company’s estimate of the effective tax rate for the period and was impacted by certain favorable discrete items totaling $22.3 million. For the three months ended March 31, 2021, these discrete items primarily related to $20.4 million of excess tax benefits recognized on share-based compensation vested during the The effective tax rate of 9.0% for the three months ended March 31, 2020 reflects the Company’s estimate of the effective tax rate for the period and was impacted by certain favorable discrete items totaling $22.4 million. For the three months ended March 31, 2020, these discrete items primarily related to $18.9 million of excess tax benefits recognized on share-based compensation vested during the period and $2.6 million related to the tax impact of loss on debt extinguishment recognized during the period. The discrete items also included a $0.8 million benefit related to the revaluation of the cost of deemed repatriation of foreign earnings. The Company is under 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 which the Company has significant operations, such as New York. The tax years currently under examination vary by jurisdiction but include years ranging from 2008 through 2020. 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 available or when an event occurs necessitating a change. Based on the current status of income tax audits, the Company believes it is reasonably possible that the total amount of unrecognized benefits may decrease by approximately $14.8 million in the next twelve months as a result of the resolution of tax examinations.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Segment Information	11. SEGMENT INFORMATION The Company has five operating segments: Index, Analytics, ESG and Climate, Real Estate and Burgiss, which are presented as the following four reportable segments: Index, Analytics, ESG and Climate and All Other – Private Assets. Effective January 1, 2021, the Company began presenting four reportable segments with the ESG and Climate operating segment being presented as a separate reportable segment. The operating segments of Real Estate and Burgiss do not individually meet the segment reporting thresholds and have been combined and presented as part of All Other – Private Assets reportable segment. The Company’s ownership interest in Burgiss is classified as an equity-method investment. Therefore, the All Other – Private Assets segment does not include the Company’s proportionate share of operating revenues and Adjusted EBITDA related to Burgiss. The Company’s proportionate share of the income or loss from its equity-method investment in Burgiss is not a component of Adjusted EBITDA as it is reported as a component of other (expense) income, net. Prior period amounts have been recast to reflect the current presentation. The Index operating segment offers equity and fixed income indexes. The indexes are used in many areas of the investment process, including index-linked product creation (e.g., Exchange Traded Funds (“ETFs”) and futures and options), performance benchmarking, portfolio construction and rebalancing, broker-dealer structured products 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 an analysis of market, credit, liquidity and counterparty risk across all major asset classes, spanning short-, medium- and long-term time horizons. Clients access Analytics content through MSCI’s own 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, MSCI ESG Research data and ratings, as well as climate solutions, are used in the construction of equity and fixed income indexes to help institutional investors more effectively benchmark ESG and climate investment performance, issue index-based investment products, as well as manage, measure and report on ESG and climate mandates. The Real Estate operating segment offers research, reporting, market data and benchmarking offerings that provide real estate performance analysis for funds, investors and managers. Real Estate performance and risk analytics range from enterprise-wide to property-specific analysis. The Real Estate operating segment also provides business intelligence 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 change in reportable segments has not resulted in any changes to MSCI’s Chief Operating Decision Maker (“CODM”) or the basis for segment profitability from the information disclosed in our 2020 Annual Report on Form 10-K. The CODM continues to measure and evaluate 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, 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 March 31, 2021 2020 (in thousands) Operating revenues Index $ 292,491 $ 249,256 Analytics 134,017 125,508 ESG and Climate 34,750 25,233 All Other - Private Assets 17,165 16,783 Total $ 478,423 $ 416,780 The following table presents segment profitability and a reconciliation to net income for the periods indicated: Three Months Ended March 31, 2021 2020 (in thousands) Index Adjusted EBITDA $ 219,879 $ 183,587 Analytics Adjusted EBITDA 45,731 36,317 ESG and Climate Adjusted EBITDA 5,045 3,626 All Other - Private Assets Adjusted EBITDA 5,931 5,697 Total operating segment profitability 276,586 229,227 Amortization of intangible assets 15,068 13,776 Depreciation and amortization of property, equipment and leasehold improvements 7,143 7,567 Operating income 254,375 207,884 Other expense (income), net 38,347 45,035 Provision for income taxes 19,209 14,724 Net income $ 196,819 $ 148,125 Operating revenues by geography are based on the shipping address of the ultimate customer utilizing the product. The following table presents revenue by geographic area for the periods indicated: Three Months Ended March 31, 2021 2020 (in thousands) Operating revenues Americas: United States $ 196,689 $ 181,046 Other 20,173 17,756 Total Americas 216,862 198,802 Europe, the Middle East and Africa ("EMEA"): United Kingdom 79,081 65,061 Other 106,194 87,929 Total EMEA 185,275 152,990 Asia & Australia: Japan 21,642 19,392 Other 54,644 45,596 Total Asia & Australia 76,286 64,988 Total $ 478,423 $ 416,780 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, 2021 2020 (in thousands) Long-lived assets Americas: United States $ 180,605 $ 182,776 Other 14,852 13,949 Total Americas 195,457 196,725 EMEA: United Kingdom 19,508 19,678 Other 33,101 33,561 Total EMEA 52,609 53,239 Asia & Australia: Japan 1,621 1,896 Other 35,835 37,946 Total Asia & Australia 37,456 39,842 Total $ 285,522 $ 289,806

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	12. SUBSEQUENT EVENTS On April 26, 2021, the Board of Directors declared a quarterly cash dividend of $0.78 per share for the three months ending June 30, 2021 (“second quarter 2021”). The second quarter 2021 dividend is payable on May 28, 2021 to shareholders of record as of the close of trading on May 14, 2021.

Introduction and Basis of Pre_2

Introduction and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation and Use of Estimates	Basis of Presentation and Use of Estimates These unaudited condensed consolidated financial statements include the accounts of MSCI and its wholly owned subsidiaries and include all adjustments of a normal, recurring nature necessary to state fairly the financial condition as of March 31, 2021 and December 31, 2020, the results of operations, comprehensive income and shareholders’ equity (deficit) for the three months ended March 31, 2021 and 2020 and cash flows for the three months ended March 31, 2021 and 2020. The unaudited condensed consolidated statement of financial condition and related financial statement information as of December 31, 2020 have been derived from the 2020 audited consolidated financial statements but do not include all disclosures required by accounting principles generally accepted in the United States of America (“GAAP”). The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in MSCI’s Annual Report on Form 10-K for the year ended December 31, 2020. 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. These accounting principles require the Company to make 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 assumptions made by management include the deferral and recognition of revenue, research and development and software capitalization, assessment of impairment of long-lived assets, accrued compensation, income taxes, incremental borrowing rates and other matters that affect the unaudited condensed consolidated financial statements and related disclosures. 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. Intercompany balances and transactions are eliminated in consolidation. Certain prior period amounts have been reclassified to conform to the current period presentation. Effective January 1, 2021, the ESG and Climate operating segment is being presented as a separate reportable segment. The operating segments of Real Estate and The Burgiss Group, LLC (“Burgiss”) do not individually meet the segment reporting thresholds and have been combined and presented as part of the All Other – Private Assets reportable segment. The Company’s ownership interest in Burgiss, a global provider of investment decision tools for private capital, is classified as an equity-method investment. Therefore, the All Other – Private Assets segment does not include the Company’s proportionate share of operating revenues and Adjusted EBITDA related to Burgiss. The Company’s proportionate share of the income or loss from its equity-method investment in Burgiss is not a component of Adjusted EBITDA as it is reported as a component of other (expense) income, net.
Concentrations	Concentrations For the three months ended March 31, 2021 and 2020, BlackRock, Inc. accounted for 12.0% and 11.3% of the Company’s consolidated operating revenues, respectively. For the three months ended March 31, 2021 and 2020, BlackRock, Inc. accounted for 19.2% and 18.5% of the Index segment operating revenues, respectively. No single customer represented 10.0% or more of operating revenues within the Analytics, ESG and Climate and All Other – Private Assets segments for the three months ended March 31, 2021 and 2020.
Allowance for Credit Losses on Accounts Receivable	Allowance for Credit Losses on Accounts Receivable Following the adoption of Accounting Standards Update No. 2016-13, “ Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Changes in the allowance for credit losses on doubtful accounts receivable from December 31, 2019 to March 31, 2021 were as follows: Amount (in Balance as of December 31, 2019 $ 1,715 Addition (reduction) to credit loss expense 1,712 Write-offs, net of recoveries (1,844 ) Balance as of December 31, 2020 $ 1,583 Addition (reduction) to credit loss expense 290 Adjustments and write-offs, net of recoveries (137 ) Balance as of March 31, 2021 $ 1,736
Recent Accounting Standards Updates	There are no pending accounting standards updates that are currently expected to have a material impact on the Company.

Introduction and Basis of Pre_3

Introduction and Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Changes in Allowance for Credit Losses on Doubtful Accounts Receivable	Changes in the allowance for credit losses on doubtful accounts receivable from December 31, 2019 to March 31, 2021 were as follows: Amount (in Balance as of December 31, 2019 $ 1,715 Addition (reduction) to credit loss expense 1,712 Write-offs, net of recoveries (1,844 ) Balance as of December 31, 2020 $ 1,583 Addition (reduction) to credit loss expense 290 Adjustments and write-offs, net of recoveries (137 ) Balance as of March 31, 2021 $ 1,736

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue From Contract With Customer [Abstract]
Disaggregation of Revenue	The tables that follow present the disaggregated revenues for the periods indicated: For the Three Months ended March 31, 2021 Segments (in thousands) Index Analytics ESG and Climate All Other - Private Assets Total Revenue Types Recurring subscriptions $ 155,117 $ 131,672 $ 34,140 $ 16,803 $ 337,732 Asset-based fees 126,706 — — — 126,706 Non-recurring 10,668 2,345 610 362 13,985 Total $ 292,491 $ 134,017 $ 34,750 $ 17,165 $ 478,423 For the Three Months ended March 31, 2020 Segments (in thousands) Index Analytics ESG and Climate All Other - Private Assets Total Revenue Types Recurring subscriptions $ 139,840 $ 124,065 $ 24,901 $ 15,619 $ 304,425 Asset-based fees 100,196 — — — 100,196 Non-recurring 9,220 1,443 332 1,164 12,159 Total $ 249,256 $ 125,508 $ 25,233 $ 16,783 $ 416,780
Schedule of Change in Accounts Receivable and Deferred Revenue	The tables that follow present the change in accounts receivable and in deferred revenue between the dates indicated: Accounts receivable Deferred revenue (in thousands) Opening (12/31/2020) $ 558,569 $ 675,870 Closing (03/31/2021) 506,849 672,054 Increase/(decrease) $ (51,720 ) $ (3,816 ) Accounts receivable Deferred revenue (in thousands) Opening (12/31/2019) $ 499,268 $ 574,656 Closing (03/31/2020) 481,990 574,472 Increase/(decrease) $ (17,278 ) $ (184 )
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, 2021 (in thousands) First 12-month period $ 337,369 Second 12-month period 195,485 Third 12-month period 59,023 Periods thereafter 19,339 Total $ 611,216

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Computation of Basic and Diluted EPS	The following table presents the computation of basic and diluted EPS: Three Months Ended March 31, 2021 2020 (in thousands, except per share data) Net income $ 196,819 $ 148,125 Basic weighted average common shares outstanding 82,640 84,870 Effect of dilutive securities: Stock options and restricted stock units 853 678 Diluted weighted average common shares outstanding 83,493 85,548 Earnings per basic common share $ 2.38 $ 1.75 Earnings per diluted common share $ 2.36 $ 1.73

Property, Equipment and Lease_2

Property, Equipment and Leasehold Improvements, Net (Tables)	3 Months Ended
	Mar. 31, 2021
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 specified dates: As of March 31, December 31, 2021 2020 (in thousands) Computer & related equipment $ 185,390 $ 186,786 Furniture & fixtures 14,949 15,276 Leasehold improvements 55,993 56,537 Work-in-process 1,118 2,996 Subtotal 257,450 261,595 Accumulated depreciation and amortization (181,738 ) (181,149 ) Property, equipment and leasehold improvements, net $ 75,712 $ 80,446

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Goodwill by Reportable Segment	The following table presents goodwill by reportable segment: (in thousands) Index Analytics ESG and Climate All Other - Private Assets Total Goodwill at December 31, 2020 $ 1,205,758 $ 290,976 $ 48,047 $ 21,241 $ 1,566,022 Foreign exchange translation adjustment 321 — — 198 519 Goodwill at March 31, 2021 $ 1,206,079 $ 290,976 $ 48,047 $ 21,439 $ 1,566,541
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 March 31, (in thousands) 2021 2020 Amortization expense of acquired intangible assets $ 8,368 $ 8,778 Amortization expense of internally developed capitalized software 6,700 4,998 Total amortization of intangible assets expense $ 15,068 $ 13,776
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, 2021 2020 (in thousands) Gross intangible assets: Customer relationships $ 356,700 $ 356,700 Trademarks/trade names 207,300 207,300 Technology/software 300,607 290,908 Proprietary data 28,627 28,627 Subtotal 893,234 883,535 Foreign exchange translation adjustment (4,795 ) (5,262 ) Total gross intangible assets $ 888,439 $ 878,273 Accumulated amortization: Customer relationships $ (258,925 ) $ (253,465 ) Trademarks/trade names (145,490 ) (143,207 ) Technology/software (238,361 ) (231,496 ) Proprietary data (16,202 ) (15,730 ) Subtotal (658,978 ) (643,898 ) Foreign exchange translation adjustment 134 373 Total accumulated amortization $ (658,844 ) $ (643,525 ) Net intangible assets: Customer relationships $ 97,775 $ 103,235 Trademarks/trade names 61,810 64,093 Technology/software 62,246 59,412 Proprietary data 12,425 12,897 Subtotal 234,256 239,637 Foreign exchange translation adjustment (4,661 ) (4,889 ) Total net intangible assets $ 229,595 $ 234,748
Estimated Amortization Expense for Remainder of 2021 and Succeeding Years	The following table presents the estimated amortization expense for the remainder of the year ending December 31, 2021 and succeeding years: Years Ending December 31, Amortization Expense (in thousands) Remainder of 2021 $ 46,478 2022 55,353 2023 44,685 2024 36,164 2025 21,026 Thereafter 25,889 Total $ 229,595

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Schedule of Senior Unsecured Notes	The Company had an aggregate of $3,900.0 million in senior unsecured notes (collectively, the “Senior Notes”) outstanding at March 31, 2021, as presented in the table below: Principal Amount Outstanding at Carrying Value at Carrying Value at Fair Value at Fair Value at Maturity Date March 31, 2021 March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 (in thousands) Long-term debt 4.75% senior unsecured notes due 2026 August 1, 2026 500,000 496,425 496,257 518,240 522,325 5.375% senior unsecured notes due 2027 May 15, 2027 500,000 495,982 495,819 535,995 538,100 4.000% senior unsecured notes due 2029 November 15, 2029 1,000,000 990,637 990,364 1,029,700 1,073,040 3.625% senior unsecured notes due 2030 September 1, 2030 900,000 893,697 395,458 917,955 419,428 3.875% senior unsecured notes due 2031 February 15, 2031 1,000,000 989,153 988,879 1,022,250 1,063,430 Total long-term debt $ 3,900,000 $ 3,865,894 $ 3,366,777 $ 4,024,140 $ 3,616,323
Schedule of Interest Payments Due Attributable to Senior Notes	Interest payments attributable to the Senior Notes are due as presented in the following table: First semi-annual interest payment date Second semi-annual interest payment date Senior Notes 4.75% senior unsecured notes due 2026 February 1 August 1 5.375% senior unsecured notes due 2027 May 15 November 15 4.000% senior unsecured notes due 2029 May 15 November 15 3.625% senior unsecured notes due 2030 March 1 September 1 3.875% senior unsecured notes due 2031 June 1 December 1

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Summary of Future Minimum Commitments Under Operating Leases	Future minimum commitments for the Company’s operating leases in place as of March 31, 2021, the interest and other relevant line items in the Unaudited Condensed Consolidated Statement of Financial Condition are as follows: Maturity of Lease Liabilities Operating (in thousands) Leases Remainder of 2021 $ 20,543 2022 26,447 2023 25,334 2024 20,008 2025 19,528 Thereafter 88,134 Total lease payments $ 199,994 Less: Interest (28,363 ) Present value of lease liabilities $ 171,631 Other accrued liabilities $ 22,335 Long-term operating lease liabilities $ 149,296
Summary of Lease Term and Discount Rate Under Operating Leases	Lease term and discount rate for the Company’s operating leases in place as of March 31, 2021 are as follows: As of March 31, Lease Term and Discount Rate 2021 Weighted-average remaining lease term (years) 8.83 Weighted-average discount rate 3.32 %
Summary of Other Information Under Operating Leases	Other information for the Company’s operating leases in place for the three months ended March 31, 2021 are as follows: Three Months Ended Other Information March 31, (in thousands) 2021 Operating cash flows used for operating leases $ 7,632 Leased assets obtained in exchange for new operating lease liabilities $ 4,144

Shareholders' Equity (Deficit)

Shareholders' Equity (Deficit) (Tables)	3 Months Ended
	Mar. 31, 2021
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 Price Paid Per Share Total Number of Shares Repurchased Dollar Value of Shares Repurchased (in thousands) March 31, 2021 $ 407.70 330 $ 134,340 March 31, 2020 $ 248.65 1,310 $ 325,699
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 amounts) Per Share Declared Distributed (Released)/Deferred Three Months Ended March 31, 2021 $ 0.78 $ 65,947 $ 66,153 $ (206 ) Three Months Ended March 31, 2020 $ 0.68 $ 59,233 $ 59,455 $ (222 )
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, 2021: Common Stock Treasury Common Stock Issued Stock Outstanding Balance at December 31, 2020 132,829,175 (50,255,768 ) 82,573,407 Dividend payable/paid 160 (48 ) 112 Common stock issued 301,227 — 301,227 Shares withheld for tax withholding — (122,924 ) (122,924 ) Shares repurchased under stock repurchase programs — (329,508 ) (329,508 ) Shares issued to directors — — — Balance at March 31, 2021 133,130,562 (50,708,248 ) 82,422,314

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Operating Revenues by Reportable Segment	The following table presents operating revenues by reportable segment for the periods indicated: Three Months Ended March 31, 2021 2020 (in thousands) Operating revenues Index $ 292,491 $ 249,256 Analytics 134,017 125,508 ESG and Climate 34,750 25,233 All Other - Private Assets 17,165 16,783 Total $ 478,423 $ 416,780
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 March 31, 2021 2020 (in thousands) Index Adjusted EBITDA $ 219,879 $ 183,587 Analytics Adjusted EBITDA 45,731 36,317 ESG and Climate Adjusted EBITDA 5,045 3,626 All Other - Private Assets Adjusted EBITDA 5,931 5,697 Total operating segment profitability 276,586 229,227 Amortization of intangible assets 15,068 13,776 Depreciation and amortization of property, equipment and leasehold improvements 7,143 7,567 Operating income 254,375 207,884 Other expense (income), net 38,347 45,035 Provision for income taxes 19,209 14,724 Net income $ 196,819 $ 148,125
Operating Revenues by Geographic Area	Operating revenues by geography are based on the shipping address of the ultimate customer utilizing the product. The following table presents revenue by geographic area for the periods indicated: Three Months Ended March 31, 2021 2020 (in thousands) Operating revenues Americas: United States $ 196,689 $ 181,046 Other 20,173 17,756 Total Americas 216,862 198,802 Europe, the Middle East and Africa ("EMEA"): United Kingdom 79,081 65,061 Other 106,194 87,929 Total EMEA 185,275 152,990 Asia & Australia: Japan 21,642 19,392 Other 54,644 45,596 Total Asia & Australia 76,286 64,988 Total $ 478,423 $ 416,780
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, 2021 2020 (in thousands) Long-lived assets Americas: United States $ 180,605 $ 182,776 Other 14,852 13,949 Total Americas 195,457 196,725 EMEA: United Kingdom 19,508 19,678 Other 33,101 33,561 Total EMEA 52,609 53,239 Asia & Australia: Japan 1,621 1,896 Other 35,835 37,946 Total Asia & Australia 37,456 39,842 Total $ 285,522 $ 289,806

Introduction and Basis of Pre_4

Introduction and Basis of Presentation - Additional Information (Detail) - Sales Revenue, Services, Net [Member] - Customer Concentration Risk [Member] - Customer	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Introduction And Basis Of Presentation [Line Items]
Number of major customers represented 10.0% or more of operating revenues	1	1
Blackrock Inc [Member]
Introduction And Basis Of Presentation [Line Items]
Percentage of operating revenues accounted for by major customer	12.00%	11.30%
Index [Member] | Blackrock Inc [Member]
Introduction And Basis Of Presentation [Line Items]
Percentage of operating revenues accounted for by major customer	19.20%	18.50%
Analytics [Member]
Introduction And Basis Of Presentation [Line Items]
Number of major customers represented 10.0% or more of operating revenues	0	0
ESG and Climate [Member]
Introduction And Basis Of Presentation [Line Items]
Number of major customers represented 10.0% or more of operating revenues	0	0
All Other – Private Assets [Member]
Introduction And Basis Of Presentation [Line Items]
Number of major customers represented 10.0% or more of operating revenues	0	0

Introduction and Basis of Pre_5

Introduction and Basis of Presentation - Changes in Allowance for Credit Losses on Doubtful Accounts Receivable (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Receivables [Abstract]
Balance at beginning of year	$ 1,583	$ 1,715
Addition (reduction) to credit loss expense	290	1,712
Adjustments and write-offs, net of recoveries	(137)	(1,844)
Balance at ending of year	$ 1,736	$ 1,583

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation Of Revenue [Line Items]
Operating revenues	$ 478,423	$ 416,780
Index [Member]
Disaggregation Of Revenue [Line Items]
Operating revenues	292,491	249,256
Analytics [Member]
Disaggregation Of Revenue [Line Items]
Operating revenues	134,017	125,508
ESG and Climate [Member]
Disaggregation Of Revenue [Line Items]
Operating revenues	34,750	25,233
All Other – Private Assets [Member]
Disaggregation Of Revenue [Line Items]
Operating revenues	17,165	16,783
Recurring Subscriptions [Member]
Disaggregation Of Revenue [Line Items]
Operating revenues	337,732	304,425
Recurring Subscriptions [Member] | Index [Member]
Disaggregation Of Revenue [Line Items]
Operating revenues	155,117	139,840
Recurring Subscriptions [Member] | Analytics [Member]
Disaggregation Of Revenue [Line Items]
Operating revenues	131,672	124,065
Recurring Subscriptions [Member] | ESG and Climate [Member]
Disaggregation Of Revenue [Line Items]
Operating revenues	34,140	24,901
Recurring Subscriptions [Member] | All Other – Private Assets [Member]
Disaggregation Of Revenue [Line Items]
Operating revenues	16,803	15,619
Asset-based Fees [Member]
Disaggregation Of Revenue [Line Items]
Operating revenues	126,706	100,196
Asset-based Fees [Member] | Index [Member]
Disaggregation Of Revenue [Line Items]
Operating revenues	126,706	100,196
Non-recurring [Member]
Disaggregation Of Revenue [Line Items]
Operating revenues	13,985	12,159
Non-recurring [Member] | Index [Member]
Disaggregation Of Revenue [Line Items]
Operating revenues	10,668	9,220
Non-recurring [Member] | Analytics [Member]
Disaggregation Of Revenue [Line Items]
Operating revenues	2,345	1,443
Non-recurring [Member] | ESG and Climate [Member]
Disaggregation Of Revenue [Line Items]
Operating revenues	610	332
Non-recurring [Member] | All Other – Private Assets [Member]
Disaggregation Of Revenue [Line Items]
Operating revenues	$ 362	$ 1,164

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Change in Accounts Receivable and Deferred Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Revenue From Contract With Customer [Abstract]
Accounts receivable, balance	$ 506,849	$ 481,990	$ 558,569	$ 499,268
Accounts receivable, Increase/(decrease)	(51,720)	(17,278)
Deferred revenue	672,054	574,472	$ 675,870	$ 574,656
Deferred revenue, Increase/(decrease)	$ (3,816)	$ (184)

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenue From Contract With Customer [Abstract]
Revenue recognized during period included in deferred revenue	$ 270.3	$ 212.4
Revenue, performance obligations and revenue recognition, description	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.

Revenue Recognition - Schedul_2

Revenue Recognition - Schedule of Remaining Performance Obligations (Detail) $ in Thousands	Mar. 31, 2021USD ($)
Revenue Recognition [Line Items]
Remaining performance obligations	$ 611,216
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-04-01
Revenue Recognition [Line Items]
Remaining performance obligations	337,369
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-04-01
Revenue Recognition [Line Items]
Remaining performance obligations	195,485
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-04-01
Revenue Recognition [Line Items]
Remaining performance obligations	59,023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-04-01
Revenue Recognition [Line Items]
Remaining performance obligations	$ 19,339

Revenue Recognition - Schedul_3

Revenue Recognition - Schedule of Remaining Performance Obligations (Detail 1) $ in Thousands	Mar. 31, 2021USD ($)
Revenue From Contract With Customer [Abstract]
Remaining performance obligations	$ 611,216

Revenue Recognition - Schedul_4

Revenue Recognition - Schedule of Remaining Performance Obligations (Parenthetical) (Detail)	Mar. 31, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-04-01
Revenue Recognition [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-04-01
Revenue Recognition [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-04-01
Revenue Recognition [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-04-01
Revenue Recognition [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period

Earnings Per Common Share - Com

Earnings Per Common Share - Computation of Basic and Diluted EPS (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share [Abstract]
Net income	$ 196,819	$ 148,125
Basic weighted average common shares outstanding	82,640	84,870
Effect of dilutive securities:
Stock options and restricted stock units	853	678
Diluted weighted average common shares outstanding	83,493	85,548
Earnings per basic common share	$ 2.38	$ 1.75
Earnings per diluted common share	$ 2.36	$ 1.73

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, 2021	Dec. 31, 2020
Property Plant And Equipment [Abstract]
Computer & related equipment	$ 185,390	$ 186,786
Furniture & fixtures	14,949	15,276
Leasehold improvements	55,993	56,537
Work-in-process	1,118	2,996
Subtotal	257,450	261,595
Accumulated depreciation and amortization	(181,738)	(181,149)
Property, equipment and leasehold improvements, net	$ 75,712	$ 80,446

Property, Equipment and Lease_4

Property, Equipment and Leasehold Improvements, Net - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Property Plant And Equipment [Abstract]
Depreciation and amortization of property, equipment and leasehold improvements	$ 7,143	$ 7,567

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, Net - Schedule of Goodwill by Reportable Segment (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Goodwill [Line Items]
Goodwill, Beginning balance	$ 1,566,022
Foreign exchange translation adjustment	519
Goodwill, Ending balance	1,566,541
Index [Member]
Goodwill [Line Items]
Goodwill, Beginning balance	1,205,758
Foreign exchange translation adjustment	321
Goodwill, Ending balance	1,206,079
Analytics [Member]
Goodwill [Line Items]
Goodwill, Beginning balance	290,976
Goodwill, Ending balance	290,976
ESG and Climate [Member]
Goodwill [Line Items]
Goodwill, Beginning balance	48,047
Goodwill, Ending balance	48,047
All Other – Private Assets [Member]
Goodwill [Line Items]
Goodwill, Beginning balance	21,241
Foreign exchange translation adjustment	198
Goodwill, Ending balance	$ 21,439

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, 2021	Mar. 31, 2020
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 15,068	$ 13,776
Acquired Intangible Assets [Member]
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets	8,368	8,778
Capitalized Software [Member]
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 6,700	$ 4,998

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, 2021	Dec. 31, 2020
Acquired Finite Lived Intangible Assets [Line Items]
Gross carrying value excluding foreign exchange translation adjustment	$ 893,234	$ 883,535
Foreign exchange translation adjustment	(4,795)	(5,262)
Gross carrying value	888,439	878,273
Accumulated amortization excluding foreign exchange translation adjustment	(658,978)	(643,898)
Foreign exchange translation adjustment	134	373
Accumulated amortization	(658,844)	(643,525)
Net carrying value excluding foreign exchange translation adjustment	234,256	239,637
Foreign exchange translation adjustment	(4,661)	(4,889)
Net carrying value	229,595	234,748
Customer Relationships [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Gross carrying value excluding foreign exchange translation adjustment	356,700	356,700
Accumulated amortization excluding foreign exchange translation adjustment	(258,925)	(253,465)
Net carrying value excluding foreign exchange translation adjustment	97,775	103,235
Trademarks/Trade Names [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Gross carrying value excluding foreign exchange translation adjustment	207,300	207,300
Accumulated amortization excluding foreign exchange translation adjustment	(145,490)	(143,207)
Net carrying value excluding foreign exchange translation adjustment	61,810	64,093
Technology/Software [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Gross carrying value excluding foreign exchange translation adjustment	300,607	290,908
Accumulated amortization excluding foreign exchange translation adjustment	(238,361)	(231,496)
Net carrying value excluding foreign exchange translation adjustment	62,246	59,412
Proprietary Data [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Gross carrying value excluding foreign exchange translation adjustment	28,627	28,627
Accumulated amortization excluding foreign exchange translation adjustment	(16,202)	(15,730)
Net carrying value excluding foreign exchange translation adjustment	$ 12,425	$ 12,897

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets, Net - Estimated Amortization Expense for Remainder of 2021 and Succeeding Years (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Remainder of 2021	$ 46,478
2022	55,353
2023	44,685
2024	36,164
2025	21,026
Thereafter	25,889
Net carrying value	$ 229,595	$ 234,748

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	Mar. 29, 2021	Jun. 30, 2021	Mar. 31, 2021	Mar. 31, 2020	Nov. 30, 2024	Mar. 26, 2021	Mar. 04, 2020
Schedule Of Commitments And Contingencies [Line Items]
Debt instrument principal amount			$ 3,900,000,000
Loss on extinguishment of debt				$ 9,966,000
Prepaid and Other Assets [Member]
Schedule Of Commitments And Contingencies [Line Items]
Deferred financing fees and premium remain unamortized			500,000
Other Non-Current Assets [Member]
Schedule Of Commitments And Contingencies [Line Items]
Deferred financing fees and premium remain unamortized			1,900,000
Current Maturities of Long-term Debt [Member]
Schedule Of Commitments And Contingencies [Line Items]
Deferred financing fees and premium remain unamortized			3,600,000
Long-term Debt [Member]
Schedule Of Commitments And Contingencies [Line Items]
Deferred financing fees and premium remain unamortized			30,500,000
Revolving Credit Agreement [Member]
Schedule Of Commitments And Contingencies [Line Items]
Revolving credit facility, maximum borrowing	$ 500,000,000
Revolving credit facility, increase in aggregate commitments	$ 100,000,000
Scenario Forecast [Member] | Revolving Credit Agreement [Member]
Schedule Of Commitments And Contingencies [Line Items]
Revolving credit facility, maximum borrowing					$ 467,500,000
3.625% Senior Unsecured Notes Due 2030 [Member]
Schedule Of Commitments And Contingencies [Line Items]
Debt instrument principal amount			$ 900,000,000			$ 500,000,000	$ 400,000,000
Debt instrument interest rate			3.625%			3.625%	3.625%
Maturity date			Sep. 1, 2030
Redemption description			At any time prior to March 1, 2025, the Company may redeem all or part of the 2030 Senior Notes at a redemption price equal to the sum of (i) 100% of the principal amount thereof, plus (ii) a make-whole premium as of the date of redemption, plus (iii) accrued and unpaid interest and additional interest, if any, thereon, to the date of redemption.
Redemption price			103.625%
3.625% Senior Unsecured Notes Due 2030 [Member] | Maximum [Member]
Schedule Of Commitments And Contingencies [Line Items]
Percentage of aggregate principal amount redeemed			35.00%
4.75% Senior Unsecured Notes Due 2026 [Member]
Schedule Of Commitments And Contingencies [Line Items]
Debt instrument principal amount			$ 500,000,000
Debt instrument interest rate			4.75%
Maturity date			Aug. 1, 2026
4.75% Senior Unsecured Notes Due 2026 [Member] | Scenario Forecast [Member]
Schedule Of Commitments And Contingencies [Line Items]
Redemption date		Apr. 12, 2021
4.75% Senior Unsecured Notes Due 2026 [Member] | Other expense (income) [Member] | Scenario Forecast [Member]
Schedule Of Commitments And Contingencies [Line Items]
Loss on extinguishment of debt		$ 21,800,000
Write-off of unamortized debt issuance costs		3,600,000
4.75% Senior Unsecured Notes Due 2026 [Member] | Other expense (income) [Member] | Indenture [Member] | Scenario Forecast [Member]
Schedule Of Commitments And Contingencies [Line Items]
Loss on debt extinguishment includes applicable premium and redemption price		$ 18,200,000
Senior Unsecured Notes [Member]
Schedule Of Commitments And Contingencies [Line Items]
Debt instrument principal amount			$ 3,900,000,000
Senior Notes and Revolving Credit Facility [Member]
Schedule Of Commitments And Contingencies [Line Items]
Deferred financing fees and premium remain unamortized			$ 36,500,000

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Senior Unsecured Notes (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 26, 2021	Dec. 31, 2020	Mar. 04, 2020
Debt Instrument [Line Items]
Principal Amount Outstanding	$ 3,900,000,000
Carrying Value	3,865,894,000		$ 3,366,777,000
Fair Value	$ 4,024,140,000		3,616,323,000
4.75% Senior Unsecured Notes Due 2026 [Member]
Debt Instrument [Line Items]
Maturity Date	Aug. 1, 2026
Principal Amount Outstanding	$ 500,000,000
Carrying Value	496,425,000		496,257,000
Fair Value	$ 518,240,000		522,325,000
5.375% Senior Unsecured Notes Due 2027 [Member]
Debt Instrument [Line Items]
Maturity Date	May 15, 2027
Principal Amount Outstanding	$ 500,000,000
Carrying Value	495,982,000		495,819,000
Fair Value	$ 535,995,000		538,100,000
4.000% Senior Unsecured Notes Due 2029 [Member]
Debt Instrument [Line Items]
Maturity Date	Nov. 15, 2029
Principal Amount Outstanding	$ 1,000,000,000
Carrying Value	990,637,000		990,364,000
Fair Value	$ 1,029,700,000		1,073,040,000
3.625% Senior Unsecured Notes Due 2030 [Member]
Debt Instrument [Line Items]
Maturity Date	Sep. 1, 2030
Principal Amount Outstanding	$ 900,000,000	$ 500,000,000		$ 400,000,000
Carrying Value	893,697,000		395,458,000
Fair Value	$ 917,955,000		419,428,000
3.875% Senior Unsecured Notes Due 2031 [Member]
Debt Instrument [Line Items]
Maturity Date	Feb. 15, 2031
Principal Amount Outstanding	$ 1,000,000,000
Carrying Value	989,153,000		988,879,000
Fair Value	$ 1,022,250,000		$ 1,063,430,000

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Senior Unsecured Notes (Parenthetical) (Detail)	Mar. 31, 2021	Mar. 26, 2021	Mar. 04, 2020
4.75% Senior Unsecured Notes Due 2026 [Member]
Debt Instrument [Line Items]
Debt instrument interest rate	4.75%
5.375% Senior Unsecured Notes Due 2027 [Member]
Debt Instrument [Line Items]
Debt instrument interest rate	5.375%
4.000% Senior Unsecured Notes Due 2029 [Member]
Debt Instrument [Line Items]
Debt instrument interest rate	4.00%
3.625% Senior Unsecured Notes Due 2030 [Member]
Debt Instrument [Line Items]
Debt instrument interest rate	3.625%	3.625%	3.625%
3.875% Senior Unsecured Notes Due 2031 [Member]
Debt Instrument [Line Items]
Debt instrument interest rate	3.875%

Commitments and Contingencies_4

Commitments and Contingencies - Schedule of Interest Payments Due Attributable to Senior Notes (Detail)	3 Months Ended
	Mar. 31, 2021
4.75% Senior Unsecured Notes Due 2026 [Member]
Debt Instrument [Line Items]
First semi-annual interest payment date	--02-01
Second semi-annual interest payment date	--08-01
5.375% Senior Unsecured Notes Due 2027 [Member]
Debt Instrument [Line Items]
First semi-annual interest payment date	--05-15
Second semi-annual interest payment date	--11-15
4.000% Senior Unsecured Notes Due 2029 [Member]
Debt Instrument [Line Items]
First semi-annual interest payment date	--05-15
Second semi-annual interest payment date	--11-15
3.625% Senior Unsecured Notes Due 2030 [Member]
Debt Instrument [Line Items]
First semi-annual interest payment date	--03-01
Second semi-annual interest payment date	--09-01
3.875% Senior Unsecured Notes Due 2031 [Member]
Debt Instrument [Line Items]
First semi-annual interest payment date	--06-01
Second semi-annual interest payment date	--12-01

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Leases [Abstract]
Operating lease, expense	$ 7.6	$ 9

Leases - Summary of Future Mini

Leases - Summary of Future Minimum Commitments Under Operating Leases (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Maturity of Lease Liabilities
Remainder of 2021	$ 20,543
2022	26,447
2023	25,334
2024	20,008
2025	19,528
Thereafter	88,134
Total lease payments	199,994
Less: Interest	(28,363)
Present value of lease liabilities	171,631
Other accrued liabilities	$ 22,335
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other accrued liabilities
Long-term operating lease liabilities	$ 149,296	$ 152,342

Leases - Summary of Lease Term

Leases - Summary of Lease Term and Discount Rate Under Operating Lease (Detail)	Mar. 31, 2021
Leases [Abstract]
Weighted-average remaining lease term (years)	8 years 9 months 29 days
Weighted-average discount rate	3.32%

Leases - Summary of Other Infor

Leases - Summary of Other Information Under Operating Lease (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Leases [Abstract]
Operating cash flows used for operating leases	$ 7,632
Leased assets obtained in exchange for new operating lease liabilities	$ 4,144

Shareholders' Equity (Deficit_2

Shareholders' Equity (Deficit) - Additional Information (Detail) - USD ($)	Mar. 31, 2021	Oct. 29, 2020
2020 Repurchase Program [Member]
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	$ 1,594,400,000	1,804,500,000
2019 Repurchase Program [Member]
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, remaining authorized repurchase amount		$ 804,500,000

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, 2021	Mar. 31, 2020
Equity, Class of Treasury Stock [Line Items]
Dollar Value of Shares Repurchased	$ 134,340	$ 325,699
Open Market Purchases of Common Stock [Member]
Equity, Class of Treasury Stock [Line Items]
Average Price Paid Per Share	$ 407.70	$ 248.65
Total Number of Shares Repurchased	330	1,310
Dollar Value of Shares Repurchased	$ 134,340	$ 325,699

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, 2021	Mar. 31, 2020
Statement Of Stockholders Equity [Abstract]
Dividend declared per common share	$ 0.78	$ 0.68
Cash dividends declared, Amount	$ 65,947	$ 59,233
Cash dividends distributed, Amount	66,153	59,455
Cash dividends (released)/deferred, Amount	$ (206)	$ (222)

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, 2021shares
Common Stock Issued [Member]
Common Stock Outstanding [Line Items]
Beginning balance	132,829,175
Dividend payable/paid	160
Common stock issued	301,227
Ending balance	133,130,562
Treasury Stock [Member]
Common Stock Outstanding [Line Items]
Beginning balance	(50,255,768)
Dividend payable/paid	(48)
Shares withheld for tax withholding	(122,924)
Shares repurchased under stock repurchase programs	(329,508)
Ending balance	(50,708,248)
Common Stock Outstanding [Member]
Common Stock Outstanding [Line Items]
Beginning balance	82,573,407
Dividend payable/paid	112
Common stock issued	301,227
Shares withheld for tax withholding	(122,924)
Shares repurchased under stock repurchase programs	(329,508)
Ending balance	82,422,314

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Tax Examination [Line Items]
Provision for income taxes	$ 19,209	$ 14,724
Effective tax rate	8.90%	9.00%
Amounts effect on effective tax rate	$ 22,300	$ 22,400
Amount of excess tax benefits recognized on share-based compensation vested	20,400	18,900
Tax Impact of loss on debt extinguishment		2,600
Benefit related to revaluation of cost of deemed repatriation of foreign earnings		$ 800
Decrease in unrecognized tax benefit	$ 14,800
Minimum [Member]
Income Tax Examination [Line Items]
Tax years under examination	2008
Maximum [Member]
Income Tax Examination [Line Items]
Tax years under examination	2020

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2021SegmentReporting_unit
Segment Reporting [Abstract]
Number of operating segments | Segment	5
Number of reportable segments | Reporting_unit	4

Segment Information - Operating

Segment Information - Operating Revenues by Reportable Segment (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating revenues	$ 478,423	$ 416,780
Index [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating revenues	292,491	249,256
Analytics [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating revenues	134,017	125,508
ESG and Climate [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating revenues	34,750	25,233
All Other – Private Assets [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating revenues	$ 17,165	$ 16,783

Segment Information - Segment P

Segment Information - Segment Profitability and Reconciliation to Net Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Adjusted EBITDA	$ 276,586	$ 229,227
Amortization of intangible assets	15,068	13,776
Depreciation and amortization of property, equipment and leasehold improvements	7,143	7,567
Operating income	254,375	207,884
Other expense (income), net	38,347	45,035
Provision for income taxes	19,209	14,724
Net income	196,819	148,125
Index [Member]
Segment Reporting Information [Line Items]
Adjusted EBITDA	219,879	183,587
Analytics [Member]
Segment Reporting Information [Line Items]
Adjusted EBITDA	45,731	36,317
ESG and Climate [Member]
Segment Reporting Information [Line Items]
Adjusted EBITDA	5,045	3,626
All Other – Private Assets [Member]
Segment Reporting Information [Line Items]
Adjusted EBITDA	$ 5,931	$ 5,697

Segment Information - Operati_2

Segment Information - Operating Revenues by Geographic Area (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues	$ 478,423	$ 416,780
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues	196,689	181,046
Other [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues	20,173	17,756
Total Americas [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues	216,862	198,802
United Kingdom [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues	79,081	65,061
Other [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues	106,194	87,929
Europe, the Middle East and Africa ("EMEA") [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues	185,275	152,990
Japan [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues	21,642	19,392
Other [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues	54,644	45,596
Total Asia & Australia [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues	$ 76,286	$ 64,988

Segment Information - Long-Live

Segment Information - Long-Lived Assets by Geographic Area (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 285,522	$ 289,806
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	180,605	182,776
Other [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	14,852	13,949
Total Americas [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	195,457	196,725
United Kingdom [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	19,508	19,678
Other [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	33,101	33,561
Total EMEA [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	52,609	53,239
Japan [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	1,621	1,896
Other [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	35,835	37,946
Total Asia & Australia [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 37,456	$ 39,842

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - $ / shares	Apr. 26, 2021	Mar. 31, 2021	Mar. 31, 2020
Subsequent Event [Line Items]
Quarterly dividend declared		$ 0.78	$ 0.68
Subsequent Event [Member]
Subsequent Event [Line Items]
Quarterly dividend declared	$ 0.78
Quarterly dividend declared date	Apr. 26, 2021
Quarterly dividend payable date	May 28, 2021
Quarterly dividend record date	May 14, 2021