IHS Markit (INFO) 10-Q 23 Jun 21 2021 Q2 Quarterly report Financial data

Cover Page

Cover Page	6 Months Ended
	May 31, 2021shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	May 31, 2021
Document Transition Report	false
Entity Registrant Name	IHS MARKIT LTD.
Entity Incorporation, State or Country Code	D0
Entity File Number	001-36495
Entity Tax Identification Number	98-1166311
Entity Address, Address Line One	4th Floor, Ropemaker Place
Entity Address, Address Line Two	25 Ropemaker Street
Entity Address, City or Town	London
Entity Address, Country	GB
Entity Address, Postal Zip Code	EC2Y 9LY
Country Region	44
City Area Code	20
Local Phone Number	7260 2000
Title of 12(b) Security	Common Shares, $0.01 par value per share
Trading Symbol	INFO
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 Central Index Key	0001598014
Current Fiscal Year End Date	--11-30
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding	398,612,292

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	May 31, 2021	Nov. 30, 2020
Current assets:
Cash and cash equivalents	$ 217.4	$ 125.6
Accounts receivable, net	870.9	891.7
Deferred subscription costs	99.7	84.3
Assets held for sale	865.3	0
Other current assets	129.5	131.7
Total current assets	2,182.8	1,233.3
Non-current assets:
Property and equipment, net	683	724.8
Operating lease right-of-use assets, net	280.1	296.8
Intangible assets, net	3,389.6	3,846.1
Goodwill	9,778.5	9,908.7
Deferred income taxes	27.1	27.1
Other	253.5	98.4
Total non-current assets	14,411.8	14,901.9
Total assets	16,594.6	16,135.2
Current liabilities:
Short-term debt	333.1	268.1
Accounts payable	34.6	48.2
Accrued compensation	143.6	206.1
Other accrued expenses	389.3	477.6
Income tax payable	19.4	29.1
Deferred revenue	1,009.5	886.2
Operating lease liabilities	59.9	63.5
Liabilities held for sale	103.1	0
Total current liabilities	2,092.5	1,978.8
Long-term debt, net	4,643.8	4,641.7
Deferred income taxes	467	543.4
Operating lease liabilities	284.5	297.7
Other liabilities	178	130.4
Commitments and contingencies
Redeemable noncontrolling interests	13.1	13.8
Shareholders' equity:
Common shares, $0.01 par value, 3,000.0 authorized, 483.5 and 480.4 issued, and 398.6 and 396.5 outstanding at May 31, 2021 and November 30, 2020, respectively	4.8	4.8
Additional paid-in capital	7,918.4	7,830.2
Treasury shares, at cost: 84.9 and 83.9 at May 31, 2021 and November 30, 2020, respectively	(3,139)	(3,039.8)
Retained earnings	3,988.7	3,842.1
Accumulated other comprehensive income (loss)	142.8	(107.9)
Total shareholders' equity	8,915.7	8,529.4
Total liabilities and equity	$ 16,594.6	$ 16,135.2

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Millions	May 31, 2021	Nov. 30, 2020
Common shares, par value per share	$ 0.01	$ 0.01
Common shares, shares authorized	3,000	3,000
Common shares, shares issued	483.5	480.4
Common shares, shares outstanding	398.6	396.5
Treasury shares, shares	84.9	83.9

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020
Revenue	$ 1,181.4	$ 1,026.6	$ 2,301.3	$ 2,107.4
Operating expenses:
Cost of revenue	425.8	388.3	841	804.1
Selling, general and administrative	283.3	258.1	585.5	574.3
Depreciation and amortization	150.5	149.4	302.1	294.7
Restructuring and impairment charges	7.7	81.3	8.7	85.8
Acquisition-related costs	33.3	6.6	46.4	7.5
Other expense (income), net	5.2	(1.2)	8.6	(374)
Total operating expenses	905.8	882.5	1,792.3	1,392.4
Operating income	275.6	144.1	509	715
Interest income	0	0.2	0.1	0.6
Interest expense	(55.4)	(60)	(110.9)	(121.2)
Net periodic pension and postretirement expense	0	(8.9)	0	(30.4)
Non-operating expense, net	(55.4)	(68.7)	(110.8)	(151)
Income from continuing operations before income taxes and equity in income of equity method investees	220.2	75.4	398.2	564
Provision for income taxes	(57.6)	(4.7)	(87.9)	(9)
Equity in (loss) income of equity-method investees	(3.7)	0.1	(2.7)	(0.2)
Net income	158.9	70.8	307.6	554.8
Net loss attributable to noncontrolling interest	0.1	0.9	0.7	1.9
Net income attributable to IHS Markit Ltd.	$ 159	$ 71.7	$ 308.3	$ 556.7
Basic earnings per share:
Basic earnings per share attributable to IHS Markit Ltd.	$ 0.40	$ 0.18	$ 0.77	$ 1.40
Weighted average shares used in computing basic earnings per share	398.8	397	398.1	396.4
Diluted earnings per share:
Diluted earnings per share attributable to IHS Markit Ltd.	$ 0.40	$ 0.18	$ 0.77	$ 1.38
Weighted average shares used in computing diluted earnings per share	400.7	400.1	400.8	402.1

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020
Net income	$ 158.9	$ 70.8	$ 307.6	$ 554.8
Other comprehensive income (loss), net of tax:
Net hedging activities (1)	0	0.3	0	0.4
Net pension liability adjustment (2)	0	10.7	0	15.6
Foreign currency translation adjustment	97	(131)	250.7	(166.6)
Total other comprehensive income (loss)	97	(120)	250.7	(150.6)
Comprehensive income (loss)	255.9	(49.2)	558.3	404.2
Comprehensive loss attributable to noncontrolling interest	0.1	0.9	0.7	1.9
Comprehensive income (loss) attributable to IHS Markit Ltd.	$ 256	$ (48.3)	$ 559	$ 406.1

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	May 31, 2020	May 31, 2020
Unrealized Gain (Loss) on Derivatives, Tax	$ 0.1	$ 0.1
Tax expense on net pension liability adjustment	$ (2.9)	$ (5)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	May 31, 2021	May 31, 2020
Operating activities:
Net income	$ 307.6	$ 554.8
Reconciliation of net income to net cash provided by operating activities:
Depreciation and amortization	302.1	294.7
Stock-based compensation expense	115.7	153.8
Gain on sale of assets, net	(0.2)	(370.9)
Asset Impairment Charges	3.9	0
Payments for acquisition-related performance compensation	0	(75.9)
Net periodic pension and postretirement expense	0	30.4
Undistributed earnings of affiliates, net	2.7	0.5
Pension and postretirement contributions	0	(31.1)
Deferred income taxes	(20.4)	(10.8)
Change in assets and liabilities:
Accounts receivable, net	(0.3)	7
Other current assets	(19.9)	(51.2)
Accounts payable	(8.4)	(22.5)
Accrued expenses	(177)	(119.9)
Income tax	(7.4)	(70.1)
Deferred revenue	119.5	78.7
Other assets and liabilities	(1.4)	30.2
Net cash provided by operating activities	616.5	397.7
Investing activities:
Capital expenditures on property and equipment	(143.2)	(147.6)
Acquisitions of businesses, net of cash acquired	(46.9)	(3.2)
Payments to acquire equity investments	(156.3)	(7.2)
Proceeds from sale of assets	0	466.2
Change in other assets	0.6	(0.9)
Settlements of forward contracts	11.8	(20)
Net cash (used in) provided by investing activities	(334)	287.3
Financing activities:
Proceeds from borrowings	565	541.4
Repayment of borrowings	(500)	(283.9)
Contingent consideration payments	(1)	0
Dividends paid	(159)	(135.3)
Repurchases of common shares	0	(750)
Proceeds from the exercise of employee stock options	2.2	177.2
Payments related to tax withholding for stock-based compensation	(110.3)	(111.7)
Net cash used in financing activities	(203.1)	(562.3)
Foreign exchange impact on cash balance	12.4	(26.4)
Net increase in cash and cash equivalents	91.8	96.3
Cash and cash equivalents at the beginning of the period	125.6	111.5
Cash and cash equivalents at the end of the period	$ 217.4	$ 207.8

Condensed Consolidated Statem_5

Condensed Consolidated Statement of Changes in Stockholders' Equity - USD ($) shares in Thousands, $ in Millions	Total	Common Shares	Additional Paid-in Capital	Treasury Shares	Retained Earnings	Accumulated Other Comprehensive Loss	Parent	Noncontrolling Interest
Redeemable noncontrolling interests								$ 15.1
Balance, shares at Nov. 30, 2019		398,300
Balance at Nov. 30, 2019		$ 4.8	$ 7,769.4	$ (2,391.8)	$ 3,295	$ (261.6)	$ 8,415.8
Repurchases of common shares, value				(750)			(750)
Share-based award activity, value			(186.7)	219.9	(36.1)		(2.9)
Option exercises, value			177.2				177.2
Dividends, Common Stock, Cash					(137.8)		(137.8)
Net income	$ 556.7				556.7		556.7
Net loss attributable to noncontrolling interest								(1.9)
Other comprehensive income (loss)	(150.6)					(150.6)	(150.6)
Balance, shares at May. 31, 2020		396,800
Balance at May. 31, 2020		$ 4.8	7,759.9	(2,921.9)	3,677.8	(412.2)	8,108.4
Repurchases of common shares, shares		(10,500)
Share-based award activity, shares		2,400
Option exercises, shares		6,600
Redeemable noncontrolling interests								14.1
Balance, shares at Feb. 29, 2020		398,900
Balance at Feb. 29, 2020		$ 4.8	7,724.5	(2,757.5)	3,689.4	(292.2)	8,369
Repurchases of common shares, value				(250)			(250)
Share-based award activity, value			(10.9)	85.6	(14.5)		60.2
Option exercises, value			46.3				46.3
Dividends, Common Stock, Cash					(68.8)		(68.8)
Net income	71.7				71.7		71.7
Net loss attributable to noncontrolling interest								(0.9)
Other comprehensive income (loss)	$ (120)					(120)	(120)
Balance, shares at May. 31, 2020		396,800
Balance at May. 31, 2020		$ 4.8	7,759.9	(2,921.9)	3,677.8	(412.2)	8,108.4
Repurchases of common shares, shares	6,491	(4,000)
Share-based award activity, shares		200
Option exercises, shares		1,700
Redeemable noncontrolling interests								13.2
Redeemable noncontrolling interests	$ 13.8							13.8
Balance, shares at Nov. 30, 2020	396,500	396,500
Balance at Nov. 30, 2020	$ 8,529.4	$ 4.8	7,830.2	(3,039.8)	3,842.1	(107.9)	8,529.4
Share-based award activity, value			86	(99.2)	(0.1)		(13.3)
Option exercises, value			2.2				2.2
Dividends, Common Stock, Cash					(161.6)		(161.6)
Net income	308.3				308.3		308.3
Net loss attributable to noncontrolling interest								(0.7)
Other comprehensive income (loss)	$ 250.7					250.7	250.7
Balance, shares at May. 31, 2021	398,600	398,600
Balance at May. 31, 2021	$ 8,915.7	$ 4.8	7,918.4	(3,139)	3,988.7	142.8	8,915.7
Share-based award activity, shares		2,100
Option exercises, shares		0
Redeemable noncontrolling interests								13.2
Balance, shares at Feb. 28, 2021		398,500
Balance at Feb. 28, 2021		$ 4.8	7,870.8	(3,140.6)	3,910.6	45.8	8,691.4
Share-based award activity, value			46	1.6	0		47.6
Option exercises, value			1.6				1.6
Dividends, Common Stock, Cash					(80.9)		(80.9)
Net income	159				159		159
Net loss attributable to noncontrolling interest								(0.1)
Other comprehensive income (loss)	$ 97					97	97
Balance, shares at May. 31, 2021	398,600	398,600
Balance at May. 31, 2021	$ 8,915.7	$ 4.8	$ 7,918.4	$ (3,139)	$ 3,988.7	$ 142.8	$ 8,915.7
Share-based award activity, shares		100
Redeemable noncontrolling interests	$ 13.1							$ 13.1

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	6 Months Ended
	May 31, 2021
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies The accompanying unaudited condensed consolidated financial statements of IHS Markit have been prepared on substantially the same basis as our annual consolidated financial statements and should be read in conjunction with our Annual Report on Form 10-K for the year ended November 30, 2020. In our opinion, these condensed consolidated financial statements reflect all adjustments necessary for a fair presentation of the financial position, results of operations, and cash flows for the periods presented, and such adjustments are of a normal, recurring nature. Our business has seasonal aspects. Our first quarter generally has our lowest quarterly levels of revenue and profit. We also experience event-driven seasonality in our business. For instance, CERAWeek, an annual energy conference, is typically held in the second quarter of each year; however, this event was cancelled in 2020 due to the COVID-19 pandemic, and we held this conference virtually in March 2021. Another example is the biennial release of the Boiler Pressure Vessel Code (“BPVC”) engineering standard, which generates revenue for us predominantly in the third quarter of every other year. The most recent BPVC release was in the third quarter of 2019. The preparation of financial statements in conformity with U.S. GAAP requires that we make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well the reported amounts of revenue and expense during the reporting period. We have considered the impact of the COVID-19 pandemic in determining our estimates. Actual results could differ from those estimates. Recent Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2019-12, which enhances and simplifies various aspects of the income tax accounting guidance, including requirements such as tax basis step-up in goodwill obtained in a transaction that is not a business combination, ownership changes in investments, and interim-period accounting for enacted changes in tax law. The standard will be effective for us in the first quarter of our fiscal year 2022, although early adoption is permitted. We do not expect that the adoption of this ASU will have a significant impact on our consolidated financial statements.

Business Combinations and Dives

Business Combinations and Divestitures	6 Months Ended
	May 31, 2021
Business Combinations [Abstract]
Business Combinations and Divestitures	Business Combinations and Divestitures S&P Global Inc. On November 29, 2020, we, S&P Global Inc., a New York corporation (“S&P Global”), and Sapphire Subsidiary, Ltd., a Bermuda exempted company limited by shares and a wholly-owned subsidiary of S&P Global (“Merger Sub”), entered into an agreement and plan of merger, which was subsequently amended on January 20, 2021, pursuant to which Merger Sub will merge with and into IHS Markit, with IHS Markit surviving such merger as a wholly-owned, direct subsidiary of S&P Global (the “merger”). The merger intends to bring together a unique portfolio of highly complementary assets, as well as innovation and technology capability to accelerate growth and enhance value creation. At the completion of the merger, each IHS Markit share that is issued and outstanding (other than dissenting shares and shares held by IHS Markit in treasury) will be converted into the right to receive 0.2838 fully paid and nonassessable shares of S&P Global common stock, and, if applicable, cash in lieu of fractional shares, without interest, and less any applicable withholding taxes. If the merger is completed, IHS Markit shares will cease to be listed on the New York Stock Exchange and IHS Markit shares will be deregistered under the Securities Exchange Act. The merger was approved by IHS Markit and S&P Global shareholders on March 11, 2021, but is still subject to antitrust and regulatory approval requirements, as well as other customary closing conditions. CME joint venture. In January 2021, we signed an agreement to enter into a 50/50 joint venture arrangement with shared control with CME Group to combine our post-trade services into a new joint venture. The new company will include trade processing and risk mitigation operations and will incorporate CME’s optimization businesses (Traiana, TriOptima, and Reset) and our MarkitSERV business. Through the combination, we intend to increase operating efficiencies and be better able to service clients with enhanced platforms and services for OTC markets across interest rate, FX, equity, and credit asset classes. We expect the deal to close in the summer of 2021, subject to customary antitrust and regulatory approvals and other customary closing conditions. The following table provides the components of MarkitSERV assets and liabilities (previously included in our Financial Services segment) treated as held for sale as of May 31, 2021 (in millions): Current assets $ 32.4 Property and equipment 67.7 Intangible assets 402.6 Goodwill 362.6 Assets held for sale $ 865.3 Deferred revenue $ (8.3) Other current liabilities (14.4) Deferred income taxes (80.4) Liabilities held for sale $ (103.1) Gen II. In December 2020, we acquired a 13 percent interest in Gen II Fund Services for $150 million as part of a joint venture with General Atlantic and Hg Capital. We expect that this investment will drive revenue synergies between the joint venture and our Private Markets solutions across private credit, private equity, and data and analytics businesses. We are accounting for this investment using the equity method of accounting. Cappitech. In December 2020, we acquired Cappitech Regulation Ltd., a Tel Aviv-based technology company providing regulatory reporting solutions on behalf of its clients to regulators, trade repositories, and affiliates, allowing customers to efficiently monitor the transaction reporting taking place across multiple jurisdictions. Cappitech’s advanced technology provides a scalable platform that we expect to combine with our other offerings in the Financial Services segment. We acquired Cappitech for upfront consideration of $47 million, net of cash acquired, with an additional earnout based on a three-year performance period, which we currently estimate at $57 million. The earnout liability is recorded within other accrued expenses and other liabilities in the condensed consolidated balance sheets. The purchase price allocation for this acquisition is still preliminary and may change upon completion of the determination of fair value of assets acquired and liabilities assumed. Aerospace & Defense divestiture. In December 2019, we completed the sale of our Aerospace & Defense (“A&D”) business line to Montagu Private Equity for approximately $466 million. The A&D assets were previously included in our Transportation segment. We recognized a gain of approximately $372 million on the sale in the first quarter of 2020. The gain is included in other expense (income), net, in the condensed consolidated statements of operations. automotiveMastermind equity interests acquisition . In September 2017, we acquired automotiveMastermind (“aM”), a leading provider of predictive analytics and marketing automation software for the automotive industry. We purchased approximately 78 percent of aM at that time. In exchange for the remaining 22 percent of aM, we issued equity interests in aM’s immediate parent holding company to aM’s founders and certain employees. We agreed to pay cash to acquire the interests over the next five years based on put/call provisions that tie the valuation to underlying adjusted EBITDA performance of aM. Since the purchase of the remaining 22 percent of the business requires continued service of the founders and employees, we are accounting for the arrangement as compensation expense that is remeasured based on changes in the fair value of the equity interests. We have classified this expense as acquisition-related costs within the condensed consolidated statements of operations and we have classified the associated accrued liability within other liabilities in the condensed consolidated balance sheets. In November 2019, the option holders exercised the put provision on 62.5 percent of their remaining 22 percent interest in the business for $75.9 million in cash, which we paid in December 2019. We estimate the compensation expense associated with the remaining equity interests to be approximately $60 to $65 million, of which approximately $44.7 million has been recognized as of May 31, 2021, with the remaining amount to be recognized through September 2022.

Revenue

Revenue	6 Months Ended
	May 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer	Revenue We disaggregate our revenue by segment (as described in Note 16) and by transaction type according to the following categories: • Recurring fixed revenue represents revenue generated from contracts specifying a relatively fixed fee for services delivered ov er the life of the contract. The initial term of these contracts is typically annual (with some longer-term arrangements) and non-cancellable for the term of the subscription, and may contain provisions for minimum monthly payments. The fixed fee is typically paid annually or more periodically in advance. These contracts typically consist of subscriptions to our various information offerings and software maintenance, which provide continuous access to our platforms and associated data over the contract term. Subscription revenue is usually recognized ratably over the contract term or, for term-based software license arrangements, annually on renewal. • Recurring variable revenue represents revenue from contracts that specify a fee for services, which is typically not fixed. The variable fee is usually paid monthly in arrears. Recurring variable revenue is based on, among other factors, the number of trades processed, assets under management, or the number of positions we value, and revenue is recognized based on the specific factor used (e.g., for usage-based contracts, we recognize revenue in line with usage in the period). Most of these contracts have an initial term ranging from one to five years, with auto-renewal periods thereafter. Recurring variable revenue was derived entirely from the Financial Services segment for all periods presented. • Non-recurring revenue represents consulting, services, single-document product sales, perpetual license sales and associated services, conferences and events, and advertising. Revenue for services and other non-recurring revenue is recognized upon completion of the associated performance obligation. The following table presents our revenue by transaction type (in millions): Three months ended May 31, Six months ended May 31, 2021 2020 2021 2020 Recurring fixed revenue $ 836.0 $ 755.2 $ 1,661.6 $ 1,559.3 Recurring variable revenue 182.6 158.0 355.5 304.8 Non-recurring revenue 162.8 113.4 284.2 243.3 Total revenue $ 1,181.4 $ 1,026.6 $ 2,301.3 $ 2,107.4 Our customer contracts may include multiple performance obligations; for example, we typically sell software licenses with maintenance and other associated services. For these transactions, we recognize revenue based on the relative fair value to the customer of each performance obligation as each performance obligation is completed. We record a receivable when a customer is billed or when revenue is recognized prior to billing a customer. Contract assets include unbilled amounts for multi-year customer contracts where payment is not yet due and where services have been provided up-front but have not yet been billed. Contract assets were approximately $10.3 million as of May 31, 2021 and $19.3 million as of November 30, 2020, and are recorded in accounts receivable, net, in the condensed consolidated balance sheets. Contract liabilities primarily include our obligations to transfer goods or services for which we have received consideration (or an amount of consideration is due) from the customer. Billings represent amounts that were paid in advance or due from customers. We record our contract liabilities as deferred revenue in the condensed consolidated balance sheets. The following table provides a reconciliation of our contract liabilities as of May 31, 2021 (in millions): Balance at November 30, 2020 $ 886.2 Billings 1,863.6 Revenue recognized (1,732.0) Divestiture activity (8.3) Balance at May 31, 2021 $ 1,009.5

Leases

Leases	6 Months Ended
	May 31, 2021
Leases [Abstract]
Lessee, Operating Leases	Leases We utilize operating leases for our various workplaces worldwide, and we also utilize operating leases for our data centers. These leases have remaining terms ranging from one to 12 years, many of which include renewal and early termination options. As of May 31, 2021, we have not considered extension and early termination options in our calculation of the right-of-use (“ROU”) assets and lease liabilities because we do not believe that it is reasonably certain that we will exercise those options. We do not have any significant finance leases. We determine if an arrangement is a lease at inception. We consider any contract where there is an identified asset that we have the right to control in determining whether the contract contains a lease. ROU assets represent our right to use the underlying assets for the lease term, and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and lease liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As our operating leases do not provide an implicit rate, we use an incremental borrowing rate based on the information available on the commencement date in determining the present value of lease payments. We calculate our incremental borrowing rates by extrapolating our current unsecured bond portfolio across the maturity ladder and adjusting the resultant corporate rate for the estimated spread for a secured borrowing and for foreign currencies, as appropriate. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Operating lease transactions are included in operating lease right-of-use assets, net, and current and non-current operating lease liabilities in the condensed consolidated balance sheets. The following table presents lease cost, cash paid for amounts included in the measurement of lease liabilities, the weighted-average remaining lease term, and the weighted-average discount rate for our operating leases for the three and six months ended May 31, 2021 and May 31, 2020 (in millions): Three months ended May 31, Six months ended May 31, 2021 2020 2021 2020 Lease cost: Operating lease cost $ 14.8 $ 16.3 $ 29.7 $ 32.4 Variable lease cost $ 1.7 $ 1.5 $ 3.7 $ 3.2 Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 16.7 $ 15.9 $ 34.5 $ 31.4 Weighted-average remaining lease term 7.6 years 8.2 years 7.6 years 8.2 years Weighted-average discount rate 1.9 % 2.0 % 1.9 % 2.0 % As of May 31, 2021, maturities of operating lease liabilities under non-cancellable arrangements were as follows (in millions): Year Amount Remainder of 2021 $ 36.0 2022 58.8 2023 52.0 2024 46.7 2025 39.5 Thereafter 137.5 Total future minimum operating lease payments 370.5 Imputed interest (26.1) Total operating lease liability $ 344.4

Intangible Assets

Intangible Assets	6 Months Ended
	May 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets The following table presents details of our intangible assets, other than goodwill, as of May 31, 2021 and November 30, 2020 (in millions): As of May 31, 2021 As of November 30, 2020 Gross Accumulated Net Gross Accumulated Net Intangible assets subject to amortization: Customer relationships $ 3,236.5 $ (832.5) $ 2,404.0 $ 3,507.0 $ (805.1) $ 2,701.9 Developed technology 854.9 (283.5) 571.4 965.9 (290.1) 675.8 Information databases 602.6 (399.4) 203.2 597.1 (368.2) 228.9 Trademarks 491.3 (285.7) 205.6 490.2 (258.6) 231.6 Developed computer software 70.2 (67.6) 2.6 68.9 (62.9) 6.0 Other 7.0 (4.2) 2.8 4.1 (2.2) 1.9 Total intangible assets $ 5,262.5 $ (1,872.9) $ 3,389.6 $ 5,633.2 $ (1,787.1) $ 3,846.1 Intangible assets amortization expense was $91.2 million and $186.7 million for the three and six months ended May 31, 2021, compared to $93.0 million and $187.2 million for the three and six months ended May 31, 2020. The following table presents the estimated future amortization expense related to intangible assets held as of May 31, 2021 (in millions): Year Amount Remainder of 2021 $ 180.6 2022 $ 348.0 2023 $ 335.1 2024 $ 315.5 2025 $ 285.4 Thereafter $ 1,925.0 Goodwill, gross intangible assets, and net intangible assets are all subject to foreign currency translation effects. The change in net intangible assets from November 30, 2020 to May 31, 2021 was primarily due to current year amortization and the reclassification of MarkitSERV intangible assets to held-for-sale, as well as foreign currency translation effects.

Debt

Debt	6 Months Ended
	May 31, 2021
Debt Disclosure [Abstract]
Debt	Debt The following table summarizes total indebtedness, including unamortized premiums, as of May 31, 2021 and November 30, 2020 (in millions): May 31, 2021 November 30, 2020 Maturity Date Carrying Amount Fair Value Carrying Amount Fair Value Credit Facilities: 2019 revolving facility November 2024 $ 332.0 332.0 $ 17.0 $ 17.0 2019 credit agreement April 2021 — — 250.0 250.0 Senior Unsecured Notes: 5.00% senior notes due 2022 November 1, 2022 748.2 786.3 748.2 802.6 4.125% senior notes due 2023 August 1, 2023 499.3 536.1 499.2 545.2 3.625% senior notes due 2024 May 1, 2024 399.3 430.0 399.3 436.8 4.75% senior notes due 2025 February 15, 2025 808.7 899.0 809.7 916.2 4.00% senior notes due 2026 March 1, 2026 500.0 555.4 500.0 573.9 4.75% senior notes due 2028 August 1, 2028 748.0 874.2 747.9 906.8 4.25% senior notes due 2029 May 1, 2029 970.3 1,083.7 971.4 1,135.5 Debt issuance costs (33.9) (38.5) Finance leases 5.0 5.6 Total debt $ 4,976.9 $ 4,909.8 Current portion (333.1) (268.1) Total long-term debt $ 4,643.8 $ 4,641.7 2019 revolving facility. On November 29, 2019, we entered into a $1.25 billion senior unsecured revolving credit agreement (“2019 revolving facility”). Subject to certain conditions, the 2019 revolving facility may be expanded by up to an aggregate of $750 million in additional commitments. Borrowings under the 2019 revolving facility mature in November 2024. The interest rates for borrowings under the 2019 revolving facility are the applicable LIBOR plus a spread of 1.00 percent to 1.625 percent, depending upon our corporate credit rating. A commitment fee on any unused balance is payable periodically and ranges from 0.10 percent to 0.25 percent based upon our corporate credit rating. We had approximately $1.1 million of outstanding letters of credit under the 2019 revolving facility as of May 31, 2021, which reduced the available borrowing under the facility by an equivalent amount. 2019 credit agreement. In September 2019, we entered into a 364-day credit agreement (the “2019 credit agreement”) for a term loan credit facility in an aggregate principal amount of $250.0 million. In April 2020, we amended the 2019 credit agreement to extend the term through April 2021. In April 2021, we repaid the 2019 credit agreement using borrowings under the 2019 revolving facility. The interest rate for borrowing under the 2019 credit agreement was the applicable LIBOR plus a spread of 1.00 percent. The 2019 revolving facility and the 2019 credit agreement are subject to certain financial and other covenants, including a maximum Leverage Ratio and a minimum Interest Coverage Ratio, which is defined as the ratio of Consolidated EBITDA to Consolidated Interest Expense, as such terms are defined in the agreements. As of May 31, 2021, we had approximately $332.0 million of outstanding borrowings under the 2019 revolving facility at a current annual interest rate of 1.36 percent. Senior Unsecured Notes. All of our senior unsecured notes (“Senior Notes”) are unsecured and bear interest at a fixed rate payable semiannually. The Senior Notes were issued in registered offerings under the Securities Act or in offerings not subject to the registration requirements of the Securities Act, and all the Senior Notes have been admitted for trading to the official list of The International Stock Exchange in the Channel Islands. The indentures governing the Senior Notes all provide that, at the option of the respective holders of the Senior Notes, we may be required to purchase all or a portion of such Senior Notes upon occurrence of a change of control triggering event as defined in the respective indentures, at a price equal to 101 percent of the principal amount thereof, plus accrued and unpaid interest to the date of purchase. All the indentures also contain (i) covenants that limit our ability to, among other things, incur or create liens and enter into sale and leaseback transactions, (ii) covenants that limit our ability to consolidate or merge with another entity or to sell all or substantially all of our assets to another entity, and (iii) customary default provisions. As of May 31, 2021, we were in compliance with all of our debt covenants. We have classified short-term debt based on scheduled loan payments and intended repayments on our revolving facility based on expected cash availability over the next 12 months. The carrying value of our variable rate debt instruments approximate their fair value because of the variable interest rates associated with those instruments. The fair values of the senior notes were measured using observable inputs in markets that are not active; consequently, we have classified those notes within Level 2 of the fair value hierarchy.

Derivatives

Derivatives	6 Months Ended
	May 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives Our business is exposed to various market risks, primarily foreign currency risk. We utilize derivative instruments to help us manage this risk. We do not hold or issue derivatives for speculative purposes. To mitigate foreign currency exposure, we utilize short-term foreign currency forward contracts that manage market risks associated with fluctuations in balances that are denominated in currencies other than the local functional currency. We account for these forward contracts at fair value and recognize the associated realized and unrealized gains and losses in other expense (income), net, since we have not designated these contracts as hedges for accounting purposes. The notional amount of these outstanding foreign currency forward contracts was $349.2 million and $342.3 million as of May 31, 2021 and November 30, 2020, respectively. Since our derivative instruments are not listed on an exchange, we have evaluated fair value by reference to similar transactions in active markets; consequently, we have classified all of our derivative instruments within Level 2 of the fair value measurement hierarchy. As of May 31, 2021 and November 30, 2020, we had assets of $5.6 million and $2.5 million, respectively, which were classified within other current assets, and we had liabilities of $0.2 million and $0.4 million, respectively, which were classified within other accrued expenses and other liabilities.

Restructuring

Restructuring	6 Months Ended
	May 31, 2021
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring and Impairment Charges The following table provides a reconciliation of our restructuring liability, recorded in other accrued expenses, as of May 31, 2021 (in millions): Employee Severance and Contract Total Balance at November 30, 2020 $ 54.3 $ 10.8 $ 65.1 Add: Restructuring costs incurred 7.3 (0.2) 7.1 Revision to prior estimates (1.9) (0.3) (2.2) Less: Amount paid (43.7) (2.2) (45.9) Balance at May 31, 2021 $ 16.0 $ 8.1 $ 24.1 As of May 31, 2021, approximately $6.9 million of the remaining restructuring liability was in Resources, $3.9 million in Transportation, $9.8 million in Shared Services, $2.3 million in CMS, and the remainder in Financial Services. As part of our effort to moderate the impact of the COVID-19 pandemic, we continue to evaluate our office facilities to determine where we can exit, consolidate, or otherwise optimize our use of office space throughout the company. For the six months ended May 31, 2021, we recorded approximately $3.9 million of impairment charges.

Acquisition-related Costs

Acquisition-related Costs	6 Months Ended
	May 31, 2021
Acquisition Related Costs [Abstract]
Acquisition Related Costs	Acquisition-Related Costs During the six months ended May 31, 2021, we incurred approximately $46.4 million in costs associated with acquisitions and divestitures, primarily related to legal, consulting, and other professional services associated with recently announced merger and divestiture activities, as well as aM acquisition-related performance compensation. The following table provides a reconciliation of the acquisition-related costs accrued liability, recorded in other accrued expenses and other liabilities, as of May 31, 2021 (in millions): Contract Other Total Balance at November 30, 2020 $ 1.3 $ 67.0 $ 68.3 Add: Costs incurred — 46.4 46.4 Less: Amount paid (0.2) (26.0) (26.2) Balance at May 31, 2021 $ 1.1 $ 87.4 $ 88.5 As of May 31, 2021, approximately $44.7 million of the remaining liability is associated with the aM acquisition-related performance compensation liability described in Note 2, with the remainder primarily related to costs associated with the S&P Global merger and acquisition and divestiture activity within the Financial Services segment.

Stock-based Compensation

Stock-based Compensation	6 Months Ended
	May 31, 2021
Share-based Payment Arrangement [Abstract]
Stock-based Compensation	Stock-Based Compensation Stock-based compensation expense for the three and six months ended May 31, 2021 and May 31, 2020 was as follows (in millions): Three months ended May 31, Six months ended May 31, 2021 2020 2021 2020 Cost of revenue $ 15.5 $ 20.6 $ 35.9 $ 44.6 Selling, general and administrative 34.4 50.6 79.8 109.2 Total stock-based compensation expense $ 49.9 $ 71.2 $ 115.7 $ 153.8 No stock-based compensation cost was capitalized during the three and six months ended May 31, 2021 and May 31, 2020. As of May 31, 2021, there was $290.1 million of unrecognized stock-based compensation cost, adjusted for estimated forfeitures, related to unvested stock-based awards that will be recognized over a weighted-average period of approximately 1.8 years. Total unrecognized stock-based compensation cost will be adjusted for future changes in estimated forfeitures and expected performance achievement. Restricted Stock Units (RSUs). The following table summarizes RSU activity, including awards with performance and market conditions, during the six months ended May 31, 2021: Shares Weighted- (in millions) Balance at November 30, 2020 6.8 $ 61.57 Granted 2.3 $ 89.93 Vested (3.3) $ 54.23 Forfeited (0.1) $ 79.32 Balance at May 31, 2021 5.7 $ 76.61 The total fair value of RSUs that vested during the six months ended May 31, 2021 was $289.8 million.

Income Taxes

Income Taxes	3 Months Ended
	Aug. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective tax rate for the three and six months ended May 31, 2021 was 26 percent and 22 percent, compared to 6 percent and 2 percent for the three and six months ended May 31, 2020. The higher 2021 tax rates are primarily due to U.S. minimum tax impacts of approximately $15 million and $34 million for the three and six months ended May 31, 2021, respectively, partially offset by excess tax benefits on stock-based compensation of approximately $1 million and $24 million for the same respective periods. The low tax rates for the three and six months ended May 31, 2020 are primarily due to tax benefits associated with the tax-efficient divestiture of the A&D business line (U.K. share sales are exempt from tax) of approximately $9 million and $38 million, respectively, and excess tax benefits on stock-based compensation of approximately $12 million and $76 million, partially offset by U.S. minimum tax impacts of approximately $20 million and $31 million, respectively. On June 10, 2021, the U.K. enacted an increase in corporation tax rate from the current 19 percent to 25 percent, effective from April 1, 2023. Due to our fiscal year end, the higher tax rate will be phased in, resulting in a U.K. statutory rate of 23 percent for our fiscal year ending November 30, 2023 and 25 percent for subsequent fiscal years. Accounting Standards Codification (“ASC”) Topic 740, “Income Taxes,” requires that we remeasure our deferred tax assets and liabilities and recognize the effect of the tax law change in the period of enactment. We estimate a tax expense of approximately $35 million to remeasure U.K. deferred taxes to account for the tax rate change. We will finalize and record the remeasurement in our fiscal quarter ending August 31, 2021.

Pension and Postretirement

Pension and Postretirement	6 Months Ended
	May 31, 2021
Postemployment Benefits [Abstract]
Postemployment Benefits Disclosure	Pensions and Postretirement BenefitsDuring the first quarter of 2020, we incurred settlement expense of approximately $11.6 million related to lump-sum distributions to participants in our U.S. Retirement Income Plan (“U.S. RIP”), Supplemental Income Plan, and U.K. Retirement Income Plan (“U.K. RIP”) plans. We also converted to termination accounting for our U.K. RIP at the end of the first quarter, which resulted in an expense recognition of actuarial loss in excess of corridor of approximately $9.6 million. During the second quarter of 2020, we transferred our U.S. RIP annuity liability and our U.K. RIP liability to third-party insurers, which resulted in additional settlement expense of approximately $8.9 million.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	May 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies From time to time, in the ordinary course of our business, we are involved in various legal, regulatory or administrative proceedings, lawsuits, government investigations, and other claims, including employment, commercial, intellectual property, and environmental, safety, and health matters. In addition, we may receive routine requests for information from governmental agencies in connection with their regulatory or investigatory authority or from private third parties pursuant to valid court orders or subpoenas. We review such proceedings, lawsuits, investigations, claims, and requests for information and take appropriate action as necessary. At the present time, we can give no assurance as to the outcome of any such pending proceedings, lawsuits, investigations, claims, or requests for information and we are unable to determine the ultimate resolution of or provide a reasonable estimate of the range of possible loss attributable to these matters or the effect they may have on us. However, we do not expect the outcome of such proceedings, lawsuits, claims, or requests for information to have a material adverse effect on our results of operations or financial condition. We have defended and will continue to vigorously defend ourselves in all matters. As of June 22, 2021, nine complaints had been filed by purported shareholders of IHS Markit or S&P Global relating to our proposed merger with S&P Global. All of these actions have been voluntarily dismissed or discontinued.

Common Shares and Earnings per

Common Shares and Earnings per Share	6 Months Ended
	May 31, 2021
Earnings Per Share [Abstract]
Common Shares and Earnings Per Share	Common Shares and Earnings per Share Weighted-average shares outstanding for the three and six months ended May 31, 2021 and May 31, 2020 were calculated as follows (in millions): Three months ended May 31, Six months ended May 31, 2021 2020 2021 2020 Weighted-average shares outstanding: Shares used in basic EPS calculation 398.8 397.0 398.1 396.4 Effect of dilutive securities: RSUs/RSAs 1.6 1.2 2.4 2.5 Stock options 0.3 1.9 0.3 3.2 Shares used in diluted EPS calculation 400.7 400.1 400.8 402.1 Share Repurchase Programs In October 2019, our Board of Directors authorized a share repurchase program of up to $2.5 billion of IHS Markit common shares from October 17, 2019 through November 30, 2021, to be funded using our existing cash, cash equivalents, marketable securities, and future cash flows, or through the incurrence of short- or long-term indebtedness, at management’s discretion. This October 2019 share repurchase program does not obligate us to repurchase any set dollar amount or number of shares and may be modified, suspended, or terminated at any time without prior notice. Under the repurchase program, we are authorized to repurchase our common shares on the open market from time to time, in privately negotiated transactions, or through accelerated share repurchase agreements, subject to availability of common shares, price, market conditions, alternative uses of capital, and applicable regulatory requirements, at management’s discretion. As of May 31, 2021, we had $1.6 billion remaining available to repurchase under the program. The merger agreement with S&P Global restricts our ability to purchase our shares and therefore our share repurchase program is currently suspended through November 2021, other than for the repurchase of shares associated with tax withholding requirements for share-based compensation. In August 2016, our Board of Directors separately authorized, subject to applicable regulatory requirements, the repurchase of our common shares surrendered by employees in an amount equal to the exercise price, if applicable, and statutory tax liability associated with the vesting of their equity awards, for which we pay the statutory tax on behalf of the employee and forgo receipt of the exercise price of the award from the employee, if applicable. In December 2019, we funded a $500 million accelerated share repurchase (“ASR”) agreement, which terminated in February 2020. We received a total of 6.491 million shares in connection with the ASR. Dividends Our Board of Directors approved a quarterly cash dividend of $0.20 per share in each of the first and second quarters of 2021, compared to a quarterly cash dividend of $0.17 per share in each of the first and second quarters of 2020. Employee Benefit Trust (EBT) Shares We have approximately 25.2 million outstanding common shares that are held by the Markit Group Holdings Limited Employee Benefit Trust. The trust is under our control using the variable interest entity model criteria; consequently, we have consolidated and classified the trust shares as treasury shares within our condensed consolidated balance sheets.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	May 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated other comprehensive income (loss)	Accumulated Other Comprehensive Income (Loss) The following table summarizes the changes in AOCI by component (net of tax) for the three months ended May 31, 2021 and May 31, 2020 (in millions): Foreign currency translation Net pension and OPEB liability Unrealized losses on hedging activities Total Balance at February 28, 2021 $ 45.8 $ — $ — $ 45.8 Other comprehensive income 97.0 — — 97.0 Balance at May 31, 2021 $ 142.8 $ — $ — $ 142.8 Foreign currency translation Net pension and OPEB liability Unrealized losses on hedging activities Total Balance at February 29, 2020 $ (277.9) $ (10.7) $ (3.6) $ (292.2) Other comprehensive (loss) income before reclassifications (131.0) 0.8 (0.7) (130.9) Reclassifications from AOCI to income — 9.9 1.0 10.9 Balance at May 31, 2020 $ (408.9) $ — $ (3.3) $ (412.2) The following table summarizes the changes in AOCI by component (net of tax) for the six months ended May 31, 2021 and May 31, 2020 (in millions): Foreign currency translation Net pension and OPEB liability Unrealized losses on hedging activities Total Balance at November 30, 2020 $ (107.9) $ — $ — $ (107.9) Other comprehensive income 250.7 — — 250.7 Balance at May 31, 2021 $ 142.8 $ — $ — $ 142.8 Foreign currency translation Net pension and OPEB liability Unrealized losses on hedging activities Total Balance at November 30, 2019 $ (242.3) $ (15.6) $ (3.7) $ (261.6) Other comprehensive (loss) income before reclassifications (166.6) 0.8 (1.4) (167.2) Reclassifications from AOCI to income — 14.8 1.8 16.6 Balance at May 31, 2020 $ (408.9) $ — $ (3.3) $ (412.2)

Segment Information

Segment Information	6 Months Ended
	May 31, 2021
Segment Reporting [Abstract]
Segment Information	Segment Information We prepare our financial reports and analyze our business results within our four operating segments: Financial Services, Transportation, Resources, and CMS. We evaluate revenue performance at the segment level and by transaction type. No single customer accounted for 10 percent or more of our total revenue for the three and six months ended May 31, 2021 and May 31, 2020. There are no material inter-segment revenues for any period presented. Our shared services function includes corporate transactions that are not allocated to the reportable segments, including net periodic pension and postretirement expense, as well as certain corporate functions such as investor relations, procurement, corporate development, and portions of finance, legal, and marketing. We evaluate segment operating performance at the Adjusted EBITDA level for each of our four segments. We define Adjusted EBITDA as net income before net interest, provision for income taxes, depreciation and amortization, stock-based compensation expense, restructuring charges, acquisition-related costs and performance compensation, exceptional litigation, net other gains and losses, pension mark-to-market and settlement expense, the impact of equity-method investments and noncontrolling interests, and discontinued operations. Information about the operations of our four segments is set forth below (in millions). Three months ended May 31, Six months ended May 31, 2021 2020 2021 2020 Revenue Financial Services $ 493.4 $ 443.5 $ 977.9 $ 879.5 Transportation 344.1 243.2 655.8 540.4 Resources 220.8 219.0 423.5 444.6 CMS 123.1 120.9 244.1 242.9 Total revenue $ 1,181.4 $ 1,026.6 $ 2,301.3 $ 2,107.4 Adjusted EBITDA Financial Services $ 237.8 $ 231.3 $ 470.7 $ 436.7 Transportation 170.7 101.6 317.4 219.6 Resources 91.4 96.2 165.6 186.4 CMS 28.7 35.0 54.8 64.4 Shared services (11.2) (10.1) (24.3) (21.5) Total Adjusted EBITDA $ 517.4 $ 454.0 $ 984.2 $ 885.6 Reconciliation to the condensed consolidated statements of operations: Interest income — 0.2 0.1 0.6 Interest expense (55.4) (60.0) (110.9) (121.2) Provision for income taxes (57.6) (4.7) (87.9) (9.0) Depreciation (59.3) (56.4) (115.4) (107.5) Amortization related to acquired intangible assets (91.2) (93.0) (186.7) (187.2) Stock-based compensation expense (49.9) (71.2) (115.7) (153.8) Restructuring and impairment charges (7.7) (81.3) (8.7) (85.8) Acquisition-related costs (29.4) (2.1) (38.6) (2.8) Acquisition-related performance compensation (3.9) (4.5) (7.8) (4.7) Gain on sale of assets 0.1 (1.4) 0.2 370.9 Pension mark-to-market and settlement expense — (8.8) — (30.0) Adjusted EBITDA impacts from equity-method investments and noncontrolling interest (4.1) 0.9 (4.5) 1.6 Net income attributable to IHS Markit Ltd. $ 159.0 $ 71.7 $ 308.3 $ 556.7

(Policies)

(Policies)	6 Months Ended
	May 31, 2021
Accounting Policies [Abstract]
Segment Reporting, Policy	We evaluate segment operating performance at the Adjusted EBITDA level for each of our four segments. We define Adjusted EBITDA as net income before net interest, provision for income taxes, depreciation and amortization, stock-based compensation expense, restructuring charges, acquisition-related costs and performance compensation, exceptional litigation, net other gains and losses, pension mark-to-market and settlement expense, the impact of equity-method investments and noncontrolling interests, and discontinued operations. Information about the operations of our four segments is set forth below (in millions).
Derivatives, Policy	Since our derivative instruments are not listed on an exchange, we have evaluated fair value by reference to similar transactions in active markets; consequently, we have classified all of our derivative instruments within Level 2 of the fair value measurement hierarchy.

Business Combinations and Div_2

Business Combinations and Divestitures (Tables)	6 Months Ended
	May 31, 2021
Business Combinations [Abstract]
Disposal Groups, Including Discontinued Operations	The following table provides the components of MarkitSERV assets and liabilities (previously included in our Financial Services segment) treated as held for sale as of May 31, 2021 (in millions): Current assets $ 32.4 Property and equipment 67.7 Intangible assets 402.6 Goodwill 362.6 Assets held for sale $ 865.3 Deferred revenue $ (8.3) Other current liabilities (14.4) Deferred income taxes (80.4) Liabilities held for sale $ (103.1)

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	May 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue by Transaction Type	The following table presents our revenue by transaction type (in millions): Three months ended May 31, Six months ended May 31, 2021 2020 2021 2020 Recurring fixed revenue $ 836.0 $ 755.2 $ 1,661.6 $ 1,559.3 Recurring variable revenue 182.6 158.0 355.5 304.8 Non-recurring revenue 162.8 113.4 284.2 243.3 Total revenue $ 1,181.4 $ 1,026.6 $ 2,301.3 $ 2,107.4
Contract with Customer, Asset and Liability	The following table provides a reconciliation of our contract liabilities as of May 31, 2021 (in millions): Balance at November 30, 2020 $ 886.2 Billings 1,863.6 Revenue recognized (1,732.0) Divestiture activity (8.3) Balance at May 31, 2021 $ 1,009.5

Leases (Tables)

Leases (Tables)	6 Months Ended
	May 31, 2021
Leases [Abstract]
Lease, Cost	The following table presents lease cost, cash paid for amounts included in the measurement of lease liabilities, the weighted-average remaining lease term, and the weighted-average discount rate for our operating leases for the three and six months ended May 31, 2021 and May 31, 2020 (in millions): Three months ended May 31, Six months ended May 31, 2021 2020 2021 2020 Lease cost: Operating lease cost $ 14.8 $ 16.3 $ 29.7 $ 32.4 Variable lease cost $ 1.7 $ 1.5 $ 3.7 $ 3.2 Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 16.7 $ 15.9 $ 34.5 $ 31.4 Weighted-average remaining lease term 7.6 years 8.2 years 7.6 years 8.2 years Weighted-average discount rate 1.9 % 2.0 % 1.9 % 2.0 %
Lessee, Operating Lease, Liability, Maturity	As of May 31, 2021, maturities of operating lease liabilities under non-cancellable arrangements were as follows (in millions): Year Amount Remainder of 2021 $ 36.0 2022 58.8 2023 52.0 2024 46.7 2025 39.5 Thereafter 137.5 Total future minimum operating lease payments 370.5 Imputed interest (26.1) Total operating lease liability $ 344.4

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	May 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill	The following table presents details of our intangible assets, other than goodwill, as of May 31, 2021 and November 30, 2020 (in millions): As of May 31, 2021 As of November 30, 2020 Gross Accumulated Net Gross Accumulated Net Intangible assets subject to amortization: Customer relationships $ 3,236.5 $ (832.5) $ 2,404.0 $ 3,507.0 $ (805.1) $ 2,701.9 Developed technology 854.9 (283.5) 571.4 965.9 (290.1) 675.8 Information databases 602.6 (399.4) 203.2 597.1 (368.2) 228.9 Trademarks 491.3 (285.7) 205.6 490.2 (258.6) 231.6 Developed computer software 70.2 (67.6) 2.6 68.9 (62.9) 6.0 Other 7.0 (4.2) 2.8 4.1 (2.2) 1.9 Total intangible assets $ 5,262.5 $ (1,872.9) $ 3,389.6 $ 5,633.2 $ (1,787.1) $ 3,846.1
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The following table presents the estimated future amortization expense related to intangible assets held as of May 31, 2021 (in millions): Year Amount Remainder of 2021 $ 180.6 2022 $ 348.0 2023 $ 335.1 2024 $ 315.5 2025 $ 285.4 Thereafter $ 1,925.0

Debt (Tables)

Debt (Tables)	6 Months Ended
	May 31, 2021
Debt Disclosure [Abstract]
Schedule of Debt	The following table summarizes total indebtedness, including unamortized premiums, as of May 31, 2021 and November 30, 2020 (in millions): May 31, 2021 November 30, 2020 Maturity Date Carrying Amount Fair Value Carrying Amount Fair Value Credit Facilities: 2019 revolving facility November 2024 $ 332.0 332.0 $ 17.0 $ 17.0 2019 credit agreement April 2021 — — 250.0 250.0 Senior Unsecured Notes: 5.00% senior notes due 2022 November 1, 2022 748.2 786.3 748.2 802.6 4.125% senior notes due 2023 August 1, 2023 499.3 536.1 499.2 545.2 3.625% senior notes due 2024 May 1, 2024 399.3 430.0 399.3 436.8 4.75% senior notes due 2025 February 15, 2025 808.7 899.0 809.7 916.2 4.00% senior notes due 2026 March 1, 2026 500.0 555.4 500.0 573.9 4.75% senior notes due 2028 August 1, 2028 748.0 874.2 747.9 906.8 4.25% senior notes due 2029 May 1, 2029 970.3 1,083.7 971.4 1,135.5 Debt issuance costs (33.9) (38.5) Finance leases 5.0 5.6 Total debt $ 4,976.9 $ 4,909.8 Current portion (333.1) (268.1) Total long-term debt $ 4,643.8 $ 4,641.7

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	May 31, 2021
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The following table provides a reconciliation of our restructuring liability, recorded in other accrued expenses, as of May 31, 2021 (in millions): Employee Severance and Contract Total Balance at November 30, 2020 $ 54.3 $ 10.8 $ 65.1 Add: Restructuring costs incurred 7.3 (0.2) 7.1 Revision to prior estimates (1.9) (0.3) (2.2) Less: Amount paid (43.7) (2.2) (45.9) Balance at May 31, 2021 $ 16.0 $ 8.1 $ 24.1

Acquisition-related Costs (Tabl

Acquisition-related Costs (Tables)	6 Months Ended
	May 31, 2021
Acquisition Related Costs [Abstract]
Acquisition Related Cost Reserve Rollforward	The following table provides a reconciliation of the acquisition-related costs accrued liability, recorded in other accrued expenses and other liabilities, as of May 31, 2021 (in millions): Contract Other Total Balance at November 30, 2020 $ 1.3 $ 67.0 $ 68.3 Add: Costs incurred — 46.4 46.4 Less: Amount paid (0.2) (26.0) (26.2) Balance at May 31, 2021 $ 1.1 $ 87.4 $ 88.5

Stock-based Compensation (Table

Stock-based Compensation (Tables)	6 Months Ended
	May 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs	Stock-based compensation expense for the three and six months ended May 31, 2021 and May 31, 2020 was as follows (in millions): Three months ended May 31, Six months ended May 31, 2021 2020 2021 2020 Cost of revenue $ 15.5 $ 20.6 $ 35.9 $ 44.6 Selling, general and administrative 34.4 50.6 79.8 109.2 Total stock-based compensation expense $ 49.9 $ 71.2 $ 115.7 $ 153.8
Schedule of Share-based Compensation, Restricted Stock Units Award Activity	The following table summarizes RSU activity, including awards with performance and market conditions, during the six months ended May 31, 2021: Shares Weighted- (in millions) Balance at November 30, 2020 6.8 $ 61.57 Granted 2.3 $ 89.93 Vested (3.3) $ 54.23 Forfeited (0.1) $ 79.32 Balance at May 31, 2021 5.7 $ 76.61

Common Shares and Earnings pe_2

Common Shares and Earnings per Share (Tables)	6 Months Ended
	May 31, 2021
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Shares	Weighted-average shares outstanding for the three and six months ended May 31, 2021 and May 31, 2020 were calculated as follows (in millions): Three months ended May 31, Six months ended May 31, 2021 2020 2021 2020 Weighted-average shares outstanding: Shares used in basic EPS calculation 398.8 397.0 398.1 396.4 Effect of dilutive securities: RSUs/RSAs 1.6 1.2 2.4 2.5 Stock options 0.3 1.9 0.3 3.2 Shares used in diluted EPS calculation 400.7 400.1 400.8 402.1

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	May 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in AOCI by component (net of tax) for the three months ended May 31, 2021 and May 31, 2020 (in millions): Foreign currency translation Net pension and OPEB liability Unrealized losses on hedging activities Total Balance at February 28, 2021 $ 45.8 $ — $ — $ 45.8 Other comprehensive income 97.0 — — 97.0 Balance at May 31, 2021 $ 142.8 $ — $ — $ 142.8 Foreign currency translation Net pension and OPEB liability Unrealized losses on hedging activities Total Balance at February 29, 2020 $ (277.9) $ (10.7) $ (3.6) $ (292.2) Other comprehensive (loss) income before reclassifications (131.0) 0.8 (0.7) (130.9) Reclassifications from AOCI to income — 9.9 1.0 10.9 Balance at May 31, 2020 $ (408.9) $ — $ (3.3) $ (412.2) The following table summarizes the changes in AOCI by component (net of tax) for the six months ended May 31, 2021 and May 31, 2020 (in millions): Foreign currency translation Net pension and OPEB liability Unrealized losses on hedging activities Total Balance at November 30, 2020 $ (107.9) $ — $ — $ (107.9) Other comprehensive income 250.7 — — 250.7 Balance at May 31, 2021 $ 142.8 $ — $ — $ 142.8 Foreign currency translation Net pension and OPEB liability Unrealized losses on hedging activities Total Balance at November 30, 2019 $ (242.3) $ (15.6) $ (3.7) $ (261.6) Other comprehensive (loss) income before reclassifications (166.6) 0.8 (1.4) (167.2) Reclassifications from AOCI to income — 14.8 1.8 16.6 Balance at May 31, 2020 $ (408.9) $ — $ (3.3) $ (412.2)

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	May 31, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Information about the operations of our four segments is set forth below (in millions). Three months ended May 31, Six months ended May 31, 2021 2020 2021 2020 Revenue Financial Services $ 493.4 $ 443.5 $ 977.9 $ 879.5 Transportation 344.1 243.2 655.8 540.4 Resources 220.8 219.0 423.5 444.6 CMS 123.1 120.9 244.1 242.9 Total revenue $ 1,181.4 $ 1,026.6 $ 2,301.3 $ 2,107.4 Adjusted EBITDA Financial Services $ 237.8 $ 231.3 $ 470.7 $ 436.7 Transportation 170.7 101.6 317.4 219.6 Resources 91.4 96.2 165.6 186.4 CMS 28.7 35.0 54.8 64.4 Shared services (11.2) (10.1) (24.3) (21.5) Total Adjusted EBITDA $ 517.4 $ 454.0 $ 984.2 $ 885.6 Reconciliation to the condensed consolidated statements of operations: Interest income — 0.2 0.1 0.6 Interest expense (55.4) (60.0) (110.9) (121.2) Provision for income taxes (57.6) (4.7) (87.9) (9.0) Depreciation (59.3) (56.4) (115.4) (107.5) Amortization related to acquired intangible assets (91.2) (93.0) (186.7) (187.2) Stock-based compensation expense (49.9) (71.2) (115.7) (153.8) Restructuring and impairment charges (7.7) (81.3) (8.7) (85.8) Acquisition-related costs (29.4) (2.1) (38.6) (2.8) Acquisition-related performance compensation (3.9) (4.5) (7.8) (4.7) Gain on sale of assets 0.1 (1.4) 0.2 370.9 Pension mark-to-market and settlement expense — (8.8) — (30.0) Adjusted EBITDA impacts from equity-method investments and noncontrolling interest (4.1) 0.9 (4.5) 1.6 Net income attributable to IHS Markit Ltd. $ 159.0 $ 71.7 $ 308.3 $ 556.7

Business Combinations and Div_3

Business Combinations and Divestitures CME (Details) - USD ($) $ in Millions	May 31, 2021	Nov. 30, 2020
Business Acquisition [Line Items]
Assets held for sale	$ 865.3	$ 0
Deferred revenue -Divestiture	(8.3)
Liabilities held for sale	(103.1)	$ 0
CME Joint Venture
Business Acquisition [Line Items]
Current assets	32.4
Property and equipment	67.7
Intangible assets	402.6
Goodwill	362.6
Assets held for sale	865.3
Deferred revenue -Divestiture	(8.3)
Other current liabilities	(14.4)
Deferred income taxes	(80.4)
Liabilities held for sale	$ (103.1)

Business Combinations and Div_4

Business Combinations and Divestitures automotiveMastermind (Details) - USD ($) $ in Millions	May 31, 2021	Nov. 30, 2019	Sep. 30, 2017
Business Acquisition [Line Items]
Unrecognized stock-based compensation cost	$ 290.1
automotiveMastermind
Business Acquisition [Line Items]
Minority Interest Ownership Percentage By Noncontrolling Owners Percentage Exercised		62.50%
Minority Interest Ownership Percentage By Noncontrolling Owners Percentage Exercised Amount		$ 75.9
Acquisition Related Cost Reserve - Long term portion	44.7
automotiveMastermind | Minimum
Business Acquisition [Line Items]
Unrecognized stock-based compensation cost	60
automotiveMastermind | Maximum
Business Acquisition [Line Items]
Unrecognized stock-based compensation cost	$ 65
automotiveMastermind | automotiveMastermind
Business Acquisition [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent			78.00%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners			22.00%

Business Combinations and Div_5

Business Combinations and Divestitures Textual (Details) - USD ($) $ in Millions	Dec. 02, 2019	May 31, 2021	May 31, 2020	Dec. 31, 2020
Business Acquisition [Line Items]
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable Fair Value Method		0.2838
Gain (Loss) on Disposition of Assets		$ 0.2	$ 370.9
Aerospace & Defense
Business Acquisition [Line Items]
Disposal Group, Including Discontinued Operation, Consideration	$ 466
Gain (Loss) on Disposition of Assets	$ 372
Gen II
Business Acquisition [Line Items]
Business Combination, Consideration Transferred		150
Gen II | IHS Markit
Business Acquisition [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners				13.00%
Cappitech
Business Acquisition [Line Items]
Business Combination, Consideration Transferred		47
Business Combination, Contingent Consideration, Liability		$ 57

Revenue Dissagregation (Details

Revenue Dissagregation (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 1,181.4	$ 1,026.6	$ 2,301.3	$ 2,107.4
Recurring Fixed Revenue
Disaggregation of Revenue [Line Items]
Revenue	836	755.2	1,661.6	1,559.3
Recurring Variable Revenue
Disaggregation of Revenue [Line Items]
Revenue	182.6	158	355.5	304.8
Non-recurring Revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 162.8	$ 113.4	$ 284.2	$ 243.3

Revenue Contracts with Customer

Revenue Contracts with Customers (Details) - USD ($) $ in Millions	6 Months Ended
	May 31, 2021	Nov. 30, 2020
Revenue from Contract with Customer [Abstract]
Contract asset	$ 10.3	$ 19.3
Deferred revenue - November 30, 2020	886.2
Billings paid in advance	1,863.6
Revenue recognized	(1,732)
Deferred revenue -Divestiture	(8.3)
Deferred revenue - May 31, 2021	$ 1,009.5

Leases (Details)

Leases (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020
Leases [Abstract]
Operating Lease, Cost	$ 14.8	$ 16.3	$ 29.7	$ 32.4
Variable Lease, Cost	1.7	1.5	3.7	3.2
Operating cash outflows from operating leases	$ 16.7	$ 15.9	$ 34.5	$ 31.4
Weighted-average remaining lease term	7 years 7 months 6 days	8 years 2 months 12 days	7 years 7 months 6 days	8 years 2 months 12 days
Weighted-average discount rate	1.90%	2.00%	1.90%	2.00%

Leases Lease Liabilities (Detai

Leases Lease Liabilities (Details) $ in Millions	May 31, 2021USD ($)
Leases [Abstract]
Remainder of 2021	$ 36
2022	58.8
2023	52
2024	46.7
2025	39.5
Thereafter	137.5
Total future minimum operating lease payments	370.5
Imputed interest	(26.1)
Total operating lease liability	$ 344.4

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020	Nov. 30, 2020
Acquired Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization	$ (1,872.9)		$ (1,872.9)		$ (1,787.1)
Intangible assets, gross	5,262.5		5,262.5		5,633.2
Intangible assets, net	3,389.6		3,389.6		3,846.1
Amortization of Intangible Assets	91.2	$ 93	186.7	$ 187.2
Customer relationships
Acquired Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	3,236.5		3,236.5		3,507
Finite-Lived Intangible Assets, Accumulated Amortization	(832.5)		(832.5)		(805.1)
Finite-Lived Intangible Assets, Net	2,404		2,404		2,701.9
Developed technology
Acquired Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	854.9		854.9		965.9
Finite-Lived Intangible Assets, Accumulated Amortization	(283.5)		(283.5)		(290.1)
Finite-Lived Intangible Assets, Net	571.4		571.4		675.8
Information databases
Acquired Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	602.6		602.6		597.1
Finite-Lived Intangible Assets, Accumulated Amortization	(399.4)		(399.4)		(368.2)
Finite-Lived Intangible Assets, Net	203.2		203.2		228.9
Trademarks
Acquired Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	491.3		491.3		490.2
Finite-Lived Intangible Assets, Accumulated Amortization	(285.7)		(285.7)		(258.6)
Finite-Lived Intangible Assets, Net	205.6		205.6		231.6
Developed computer software
Acquired Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	70.2		70.2		68.9
Finite-Lived Intangible Assets, Accumulated Amortization	(67.6)		(67.6)		(62.9)
Finite-Lived Intangible Assets, Net	2.6		2.6		6
Other
Acquired Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	7		7		4.1
Finite-Lived Intangible Assets, Accumulated Amortization	(4.2)		(4.2)		(2.2)
Finite-Lived Intangible Assets, Net	$ 2.8		$ 2.8		$ 1.9

Intangible Assets Schedule of F

Intangible Assets Schedule of Future Amortization (Details) $ in Millions	May 31, 2021USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remainder of 2021	$ 180.6
2022	348
2023	335.1
2024	315.5
2025	285.4
Thereafter	$ 1,925

Debt Table (Details)

Debt Table (Details) - USD ($) $ in Millions	May 31, 2021	Nov. 30, 2020	Sep. 30, 2019
Debt Instrument [Line Items]
Debt issuance costs	$ (33.9)	$ (38.5)
Finance leases	5	5.6
Total debt	4,976.9	4,909.8
Current portion	(333.1)	(268.1)
Total long-term debt	4,643.8	4,641.7
5.00% Senior Notes due 2022
Debt Instrument [Line Items]
Senior notes	748.2	748.2
Debt Instrument, Fair Value Disclosure	$ 786.3	802.6
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	5.00%
4.125% Senior Notes Due 2023
Debt Instrument [Line Items]
Senior notes	$ 499.3	499.2
Debt Instrument, Fair Value Disclosure	$ 536.1	545.2
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	4.125%
3.625% Senior Notes Due 2024
Debt Instrument [Line Items]
Senior notes	$ 399.3	399.3
Debt Instrument, Fair Value Disclosure	$ 430	436.8
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	3.625%
4.75% Senior Notes Due 2025
Debt Instrument [Line Items]
Senior notes	$ 808.7	809.7
Debt Instrument, Fair Value Disclosure	$ 899	916.2
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	4.75%
4.00% Senior Notes Due 2026
Debt Instrument [Line Items]
Senior notes	$ 500	500
Debt Instrument, Fair Value Disclosure	$ 555.4	573.9
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	4.00%
4.75% Senior Notes Due 2028
Debt Instrument [Line Items]
Senior notes	$ 748	747.9
Debt Instrument, Fair Value Disclosure	$ 874.2	906.8
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	4.75%
4.25% Senior Notes Due 2029
Debt Instrument [Line Items]
Senior notes	$ 970.3	971.4
Debt Instrument, Fair Value Disclosure	$ 1,083.7	1,135.5
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	4.25%
2019 Credit Agreement
Debt Instrument [Line Items]
Short-term Debt	$ 0	250	$ 250
Debt Instrument, Fair Value Disclosure	0	250
2019 revolving credit facility
Debt Instrument [Line Items]
Credit facility, amount outstanding	332	17
Debt Instrument, Fair Value Disclosure	$ 332	$ 17

Debt Credit Facility Term Loan

Debt Credit Facility Term Loan (Details) - USD ($) $ in Millions	Nov. 29, 2019	Apr. 30, 2020	May 31, 2021	Nov. 30, 2020	Sep. 30, 2019
2019 Credit Agreement
Line of Credit Facility [Line Items]
Short-term Debt			$ 0	$ 250	$ 250
2019 Credit Agreement | London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Debt Instrument, Interest Rate During Period		1.00%
2019 revolving credit facility
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity	$ 1,250
Credit facility additional borrowing capacity	$ 750
Letters of credit outstanding under 2019 revolving facility			1.1
Credit facility, amount outstanding			$ 332	$ 17
Credit facility, interest rate at period end			1.36%
2019 revolving credit facility | Minimum
Line of Credit Facility [Line Items]
Credit facility, unused capacity, commitment fee percentage	0.10%
2019 revolving credit facility | Minimum | London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Credit facility, interest rate	1.00%
2019 revolving credit facility | Maximum
Line of Credit Facility [Line Items]
Credit facility, unused capacity, commitment fee percentage	0.25%
2019 revolving credit facility | Maximum | London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Credit facility, interest rate	1.625%

Derivatives Textual (Details)

Derivatives Textual (Details) - USD ($) $ in Millions	May 31, 2021	Nov. 30, 2020
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 5.6	$ 2.5
Derivative Liability, Fair Value, Gross Liability	0.2	0.4
Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative, Notional Amount	$ 349.2	$ 342.3

Restructuring (Details)

Restructuring (Details) - USD ($) $ in Millions	May 31, 2021	Nov. 30, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 24.1	$ 65.1
Resources Segment
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	6.9
Transportation Segment
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	3.9
Shared Services Segment
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	9.8
CMS Segment
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 2.3

Restructuring Table (Details)

Restructuring Table (Details) - USD ($) $ in Millions	6 Months Ended
	May 31, 2021	Nov. 30, 2020
Restructuring Reserve [Roll Forward]
Restructuring Reserve	$ 24.1	$ 65.1
Add: Restructuring costs incurred	7.1
Revision to prior estimates	(2.2)
Less: Amount paid	(45.9)
Employee Severance
Restructuring Reserve [Roll Forward]
Restructuring Reserve	16	54.3
Add: Restructuring costs incurred	7.3
Revision to prior estimates	(1.9)
Less: Amount paid	(43.7)
Contract Termination
Restructuring Reserve [Roll Forward]
Restructuring Reserve	8.1	$ 10.8
Add: Restructuring costs incurred	(0.2)
Revision to prior estimates	(0.3)
Less: Amount paid	$ (2.2)

Acquisition-related Costs Textu

Acquisition-related Costs Textual (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020
Business Acquisition [Line Items]
Acquisition-related costs	$ 33.3	$ 6.6	$ 46.4	$ 7.5
automotiveMastermind
Business Acquisition [Line Items]
Acquisition Related Cost Reserve	$ 44.7		$ 44.7

Acquisition-related Costs Table

Acquisition-related Costs Table (Details) $ in Millions	6 Months Ended
	May 31, 2021USD ($)
Contract Termination Costs
Acquisition-related Costs Reserve [Roll Forward]
Balance at November 30, 2020	$ 1.3
Add: Costs incurred	0
Less: Amount paid	(0.2)
Balance at May 31, 2021	1.1
Other
Acquisition-related Costs Reserve [Roll Forward]
Balance at November 30, 2020	67
Add: Costs incurred	46.4
Less: Amount paid	(26)
Balance at May 31, 2021	87.4
Total
Acquisition-related Costs Reserve [Roll Forward]
Balance at November 30, 2020	68.3
Add: Costs incurred	46.4
Less: Amount paid	(26.2)
Balance at May 31, 2021	$ 88.5

Stock-based Compensation Expens

Stock-based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 49.9	$ 71.2	$ 115.7	$ 153.8
Cost of revenue
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	15.5	20.6	35.9	44.6
Selling general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 34.4	$ 50.6	$ 79.8	$ 109.2

Stock-based Compensation Nonves

Stock-based Compensation Nonvested stock rollforward (Details) - Restricted Stock Units (RSUs) shares in Millions	6 Months Ended
	May 31, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Balance at November 30, 2020, shares | shares	6.8
Balance at November 30, 2020 | $ / shares	$ 61.57
Granted shares | shares	2.3
Weighted average grant date fair value, granted | $ / shares	$ 89.93
Vested shares | shares	(3.3)
Weighted average grant date fair value, vested | $ / shares	$ 54.23
Forfeited shares | shares	(0.1)
Weighted average grant date fair value, forfeited | $ / shares	$ 79.32
Balance at May 31, 2021, shares | shares	5.7
Weighted average grant date fair value, May 31, 2021 | $ / shares	$ 76.61

Stock-based Compensation Textua

Stock-based Compensation Textuals (Details) $ in Millions	6 Months Ended
	May 31, 2021USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation cost	$ 290.1
Unrecognized stock-based compensation cost recognition period	1 year 9 months 18 days
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of shares that vested during the period	$ 289.8

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	Apr. 30, 2023	Aug. 31, 2021	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020	Nov. 30, 2024	Nov. 30, 2023
Income Tax Contingency [Line Items]
Effective Income Tax Rate, Continuing Operations			26.00%	6.00%	22.00%	2.00%
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount			$ 15	$ 20	$ 34	$ 31
Effective Income Tax Rate Reconciliation, Tax Expense (Benefit), Share-based Payment Arrangement, Amount			$ 1	12	$ 24	76
Effective Income Tax Rate Reconciliation, Disposition of Business, Amount				$ 9		$ 38
Subsequent Event
Income Tax Contingency [Line Items]
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount		$ 35
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent							25.00%	23.00%
Minimum | Subsequent Event
Income Tax Contingency [Line Items]
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent	19.00%
Maximum | Subsequent Event
Income Tax Contingency [Line Items]
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent	25.00%

Pension and Postretirement (Det

Pension and Postretirement (Details) - USD ($) $ in Millions	3 Months Ended
	May 31, 2020	Feb. 29, 2020
Postemployment Benefits [Abstract]
Settlement expense	$ 8.9	$ 11.6
Expense recognition of actuarial loss in excess of corridor		$ 9.6

Common Shares and Earnings pe_3

Common Shares and Earnings per Share Weighted Average Share (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020
Weighted-average shares outstanding:
Shares used in basic EPS calculation	398.8	397	398.1	396.4
Effect of dilutive securities:
RSUs/RSAs	1.6	1.2	2.4	2.5
Stock options	0.3	1.9	0.3	3.2
Shares used in diluted EPS calculation	400.7	400.1	400.8	402.1

Common Shares and Earnings pe_4

Common Shares and Earnings per Share Share Repurchase Programs (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	May 31, 2021	May 31, 2020	Nov. 30, 2020	Dec. 01, 2019
Equity, Class of Treasury Stock [Line Items]
Accelerated Share Repurchases, Settlement (Payment) or Receipt				$ 500
Repurchases of common shares, shares		6,491
Common Stock, Dividends, Per Share, Declared	$ 0.20	$ 0.17
Shares held in employee benefit trust, shares	25,200
Stock repurchase program October 2019
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount			$ 2,500
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 1,600

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			$ (107.9)
Foreign currency translation adjustment	$ 97	$ (131)	250.7	$ (166.6)
Unrealized gain (loss) on hedging activities	0	0.3	0	0.4
Ending balance	142.8		142.8
Foreign currency translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	45.8	(277.9)	(107.9)	(242.3)
Foreign currency translation adjustment	97	(131)	250.7	(166.6)
Reclassifications from AOCI to income, foreign currency translation		0		0
Ending balance	142.8	(408.9)	142.8	(408.9)
Net pension and OPEB liability
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	0	(10.7)	0	(15.6)
Other comprehensive income (loss) before reclassifications, net pension and OPEB liability	0	0.8	0	0.8
Reclassifications from AOCI to income, net pension and OPEB liability		9.9		14.8
Ending balance	0	0	0	0
Unrealized losses on hedging activities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	0	(3.6)	0	(3.7)
Unrealized gain (loss) on hedging activities	0	(0.7)	0	(1.4)
Loss (gain) reclassified from AOCI into income		1		1.8
Ending balance	0	(3.3)	0	(3.3)
Total
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	45.8	(292.2)	(107.9)	(261.6)
Other comprehensive income (loss) before reclassifications	97	(130.9)	250.7	(167.2)
Reclassifications from AOCI to income		10.9		16.6
Ending balance	$ 142.8	$ (412.2)	$ 142.8	$ (412.2)

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020
Segment Reporting Information [Line Items]
Revenue	$ 1,181.4	$ 1,026.6	$ 2,301.3	$ 2,107.4
Adjusted EBITDA	517.4	454	984.2	885.6
Interest income	0	0.2	0.1	0.6
Interest Expense	55.4	60	110.9	121.2
Provision for income taxes	57.6	4.7	87.9	9
Amortization of Intangible Assets	91.2	93	186.7	187.2
Stock-based compensation expense	49.9	71.2	115.7	153.8
Restructuring and impairment charges	7.7	81.3	8.7	85.8
Net income attributable to IHS Markit Ltd.	159	71.7	308.3	556.7
Segment Reconciling Items
Segment Reporting Information [Line Items]
Interest income	0	0.2	0.1	0.6
Interest Expense	(55.4)	(60)	(110.9)	(121.2)
Provision for income taxes	(57.6)	(4.7)	(87.9)	(9)
Depreciation	(59.3)	(56.4)	(115.4)	(107.5)
Amortization of Intangible Assets	(91.2)	(93)	(186.7)	(187.2)
Stock-based compensation expense	(49.9)	(71.2)	(115.7)	(153.8)
Restructuring and impairment charges	(7.7)	(81.3)	(8.7)	(85.8)
Acquisition Related Costs	(29.4)	(2.1)	(38.6)	(2.8)
Acquisition Related Performance Compensation	(3.9)	(4.5)	(7.8)	(4.7)
Gain on sale of assets	0.1	(1.4)	0.2	370.9
Pension Mark to Market and Settlement Expense	0	(8.8)	0	(30)
Adjusted EBITDA impacts from equity-method investments and noncontrolling interest	(4.1)	0.9	(4.5)	1.6
Net income attributable to IHS Markit Ltd.	159	71.7	308.3	556.7
Financial Services Segment
Segment Reporting Information [Line Items]
Revenue	493.4	443.5	977.9	879.5
Adjusted EBITDA	237.8	231.3	470.7	436.7
Transportation Segment
Segment Reporting Information [Line Items]
Revenue	344.1	243.2	655.8	540.4
Adjusted EBITDA	170.7	101.6	317.4	219.6
Resources Segment
Segment Reporting Information [Line Items]
Revenue	220.8	219	423.5	444.6
Adjusted EBITDA	91.4	96.2	165.6	186.4
CMS Segment
Segment Reporting Information [Line Items]
Revenue	123.1	120.9	244.1	242.9
Adjusted EBITDA	28.7	35	54.8	64.4
Shared Services Segment
Segment Reporting Information [Line Items]
Adjusted EBITDA	$ (11.2)	$ (10.1)	$ (24.3)	$ (21.5)