S&P Global (SPGI) 10-Q 29 Jul 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jul. 18, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'MCGRAW HILL FINANCIAL INC	'
Entity Central Index Key	'0000064040	'
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
Amendment Flag	'false	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	270.9

Consolidated_Statements_of_Inc

Consolidated Statements of Income (Unaudited) (USD $)	3 Months Ended		6 Months Ended
In Millions, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Statement [Abstract]	'	'	'	'
Revenue	$1,346	$1,250	$2,581	$2,431
Expenses:	'	'	'	'
Operating-related expenses	420	395	831	769
Selling and general expenses	397	384	759	878
Depreciation	22	22	42	45
Amortization of intangibles	12	13	24	25
Total expenses	851	814	1,656	1,717
Other loss	9	0	9	0
Operating profit	486	436	916	714
Interest expense, net	14	16	28	31
Income from continuing operations before taxes on income	472	420	888	683
Provision for taxes on income	156	147	298	236
Income from continuing operations	316	273	590	447
Discontinued operations, net of tax:	'	'	'	'
Income (loss) from discontinued operations	0	4	0	-27
Gain on sale of discontinued operations	0	0	0	612
Discontinued operations, net	0	4	0	585
Net income	316	277	590	1,032
Less: net income from continuing operations attributable to noncontrolling interests	-24	-23	-50	-44
Less: net loss from discontinued operations attributable to noncontrolling interests	0	0	0	1
Net income	292	254	540	989
Amounts attributable to McGraw Hill Financial, Inc. common shareholders:	'	'	'	'
Income from continuing operations	292	250	540	403
Income from discontinued operations	0	4	0	586
Net income	$292	$254	$540	$989
Income from continuing operations:	'	'	'	'
Basic (in dollars per share)	$1.08	$0.91	$1.99	$1.45
Diluted (in dollars per share)	$1.06	$0.90	$1.95	$1.43
Income from discontinued operations:	'	'	'	'
Basic (in dollars per share)	$0	$0.01	$0	$2.11
Diluted (in dollars per share)	$0	$0.01	$0	$2.08
Net income:	'	'	'	'
Basic (in dollars per share)	$1.08	$0.93	$1.99	$3.57
Diluted (in dollars per share)	$1.06	$0.91	$1.95	$3.52
Weighted-average number of common shares outstanding:	'	'	'	'
Basic (in shares)	271.5	274.3	271.7	277.4
Diluted (in shares)	276.1	278.3	276.7	281.3
Dividend declared per common share (in usd per share)	$0.30	$0.28	$0.60	$0.56

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (Unaudited) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Statement of Comprehensive Income [Abstract]	'	'	'	'
Net income	$316	$277	$590	$1,032
Other comprehensive income:	'	'	'	'
Foreign currency translation adjustment	9	-23	13	44
Income tax effect	0	4	-1	-3
Foreign currency translation adjustment, net of income tax effect	9	-19	12	41
Pension and other postretirement benefit plans	-56	-37	-54	-34
Income tax effect	22	9	21	6
Pension and other post-retirement benefit plans, net of income tax effect	-34	-28	-33	-28
Unrealized gain (loss) on investments and forward exchange contracts	1	-1	4	7
Income tax effect	0	0	-1	-4
Unrealized gain (loss) on investments and forward exchange contracts, net of income tax effect	1	-1	3	3
Comprehensive income	292	229	572	1,048
Less: comprehensive income attributable to nonredeemable noncontrolling interests	-1	-2	-4	-5
Less: comprehensive income attributable to redeemable noncontrolling interests	-22	-20	-46	-38
Comprehensive income attributable to McGraw Hill Financial, Inc.	$269	$207	$522	$1,005

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Current assets:	'	'
Cash and equivalents	$1,617	$1,542
Accounts receivable, net of allowance for doubtful accounts: 2014 - $45; 2013 - $52	990	979
Deferred income taxes	109	108
Prepaid and other current assets	277	307
Total current assets	2,993	2,936
Property and equipment, net of accumulated depreciation: 2014 - $594; 2013 - $617	209	249
Goodwill	1,418	1,412
Other intangible assets, net	1,022	1,033
Asset for pension benefits	230	261
Other non-current assets	185	170
Total assets	6,057	6,061
Current liabilities:	'	'
Accounts payable	198	219
Accrued compensation and contributions to retirement plans	292	427
Income taxes currently payable	96	15
Unearned revenue	1,322	1,309
Other current liabilities	344	402
Total current liabilities	2,252	2,372
Long-term debt	799	799
Pension and other postretirement benefits	260	264
Other non-current liabilities	447	472
Total liabilities	3,758	3,907
Redeemable noncontrolling interest (Note 7)	810	810
Commitments and contingencies (Note 11)	'	'
Equity:	'	'
Common stock	412	412
Additional paid-in capital	382	447
Retained income	7,766	7,384
Accumulated other comprehensive loss	-214	-196
Less: common stock in treasury	-6,904	-6,746
Total equity — controlling interests	1,442	1,301
Total equity — noncontrolling interests	47	43
Total equity	1,489	1,344
Total liabilities and equity	$6,057	$6,061

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Statement of Financial Position [Abstract]	'	'
Accounts receivable, allowance for doubtful accounts	$45	$52
Property and equipment, accumulated depreciation	$594	$617

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Unaudited) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Operating Activities:	'	'
Net income	$590	$1,032
Less: discontinued operations, net	0	585
Income from continuing operations	590	447
Adjustments to reconcile income from continuing operations to cash provided by operating activities from continuing operations:	'	'
Depreciation	42	45
Amortization of intangibles	24	25
Provision for losses on accounts receivable	0	14
Stock-based compensation	48	47
Other	22	13
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:	'	'
Accounts receivable	-7	-11
Prepaid and other current assets	-11	-9
Accounts payable and accrued expenses	-251	-193
Unearned revenue	11	71
Other current liabilities	-69	-40
Net change in prepaid/accrued income taxes	111	-166
Net change in other assets and liabilities	-51	-17
Cash provided by operating activities from continuing operations	459	226
Investing Activities:	'	'
Capital expenditures	-37	-43
Acquisitions, net of cash acquired	-16	0
Other	1	0
Cash used for investing activities from continuing operations	-52	-43
Financing Activities:	'	'
Repayments of short-term debt, net	0	-457
Dividends paid to shareholders	-163	-156
Dividends and other payments paid to noncontrolling interests	-30	-38
Contingent consideration payment	-11	-12
Repurchase of treasury shares	-362	-500
Exercise of stock options	133	107
Excess tax benefits from share-based payments	82	12
Cash used for financing activities from continuing operations	-351	-1,044
Effect of exchange rate changes on cash from continuing operations	19	-36
Cash provided by (used for) continuing operations	75	-897
Discontinued Operations:	'	'
Cash used for operating activities	0	-98
Cash provided by investing activities	0	2,159
Cash used for financing activities	0	-25
Effect of exchange rate changes on cash	0	1
Cash provided by discontinued operations	0	2,037
Net change in cash and equivalents	75	1,140
Cash and equivalents at beginning of period	1,542	760
Cash and equivalents at end of period	$1,617	$1,900

Consolidated_Statements_of_Equ

Consolidated Statements of Equity (Unaudited) (USD $)		Total	Common Stock $1 par	Additional Paid-in Capital	Retained Income	Accumulated Other Comprehensive Loss	Less: Treasury Stock	Total MHFI Equity	Noncontrolling Interests
In Millions, unless otherwise specified
Balance as of December 31, 2013 at Dec. 31, 2013		$1,344	$412	$447	$7,384	($196)	$6,746	$1,301	$43
Increase (Decrease) in Stockholders' Equity [Roll Forward]		'	'	'	'	'	'	'	'
Comprehensive Income	[1]	526	'	'	540	-18	'	522	4
Dividends		-166	'	'	-160	'	'	-160	-6
Share repurchases		-352	'	'	'	'	352	-352	'
Employee stock plans, net of tax benefit		129	'	-65	'	'	-194	129	'
Change in redemption value of redeemable noncontrolling interest		1	'	'	1	'	'	1	'
Other		7	'	'	1	'	'	1	6
Net income attributable to noncontrolling interest		46	'	'	'	'	'	'	'
Balance as of June 30, 2014 at Jun. 30, 2014		$1,489	$412	$382	$7,766	($214)	$6,904	$1,442	$47
[1]	Excludes $46 million attributable to our redeemable noncontrolling interest.

Nature_of_Operations_and_Basis

Nature of Operations and Basis of Presentation	6 Months Ended
	Jun. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Nature of Operations and Basis of Presentation	'
	Nature of Operations and Basis of Presentation
	McGraw Hill Financial, Inc. (together with its consolidated subsidiaries, "McGraw Hill Financial," the “Company,” “we,” “us” or “our”) is a leading ratings, benchmarks and analytics provider serving the global capital, commodities and commercial markets. The capital markets include asset managers, banks, exchanges, issuers and financial advisors; the commodities markets include producers, traders and intermediaries within energy, metals, and agriculture; and the commercial markets include professionals and corporate executives within automotive, construction and marketing / research information services.
	Our operations consist of four reportable segments: Standard & Poor’s Ratings Services (“S&P Ratings”), S&P Capital IQ, S&P Dow Jones Indices ("S&P DJ Indices") and Commodities & Commercial Markets (“C&C”).
	•	S&P Ratings is an independent provider of credit ratings, research and analytics, offering investors and market participants information, ratings and benchmarks.
	•	S&P Capital IQ is a global provider of multi-asset-class data, research and analytical capabilities, which integrate cross-asset analytics and desktop services.
	•	S&P DJ Indices is a global index provider that maintains a wide variety of valuation and index benchmarks for investment advisors, wealth managers and institutional investors.
	•	C&C consists of business-to-business companies specializing in commercial and commodities markets that deliver their customers access to high-value information, data, analytic services and pricing benchmarks. C&C's brands include Platts, J.D. Power and McGraw Hill Construction.
	On March 18, 2014, we announced we are completing our portfolio rationalization with the evaluation of strategic alternatives for McGraw Hill Construction within our C&C segment.
	The accompanying unaudited financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. Therefore, the financial statements included herein should be read in conjunction with the financial statements and notes included in our Form 10-K for the year ended December 31, 2013 (our “Form 10-K”).
	In the opinion of management all normal recurring adjustments considered necessary for a fair statement of the results of the interim periods have been included. The operating results for the three and six months ended June 30, 2014 are not necessarily indicative of the results that may be expected for the full year. Certain prior-year amounts have been reclassified to conform to the current presentation.
	Our critical accounting estimates are disclosed in Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, in our Form 10-K. On an ongoing basis, we evaluate our estimates and assumptions, including those related to revenue recognition, allowance for doubtful accounts, valuation of long-lived assets, goodwill and other intangible assets, pension plans, incentive compensation and stock-based compensation, income taxes, contingencies and redeemable noncontrolling interests. Since the date of our Form 10-K, there have been no material changes to our critical accounting policies and estimates.

Acquisitions_and_Divestitures

Acquisitions and Divestitures	6 Months Ended
	Jun. 30, 2014
Business Combinations [Abstract]	'
Acquisitions and Divestitures	'
	Acquisitions and Divestitures
	Acquisitions
	In July of 2014, we acquired Eclipse Energy Holdings AS and its operating subsidiaries (“Eclipse”) that will be integrated into our C&C segment. Eclipse provides a comprehensive suite of data and analytics products on the European natural gas and liquefied natural gas markets as well as a range of advisory services leveraging Eclipse’s knowledge base, data capabilities, and modeling suite of products. This transaction complements our North American natural gas capabilities we obtained from our Bentek Energy LLC acquisition in 2011. We will account for the acquisition of Eclipse using the purchase method of accounting. The acquisition of Eclipse is not material to our consolidated financial statements.
	In March of 2014, we acquired the intellectual property of a family of Broad Market Indices (“BMI”) from Citigroup Global Markets Inc., that is integrated into our S&P DJ Indices segment. The BMI provides a broad measure of the global equities markets which includes approximately 11,000 companies in more than 52 countries covering both developed and emerging markets. We accounted for the acquisition of the intellectual property on a cost basis and it was not material to our consolidated financial statements.
	During the six months ended June 30, 2013, we did not complete any acquisitions.
	As part of CRISIL's acquisition of Coalition Development Ltd. that occurred in July 2012, we made contingent purchase price payments in the first six months of 2014 and 2013 for $11 million and $12 million, respectively. This has been reflected in the consolidated statement of cash flows as a financing activity.
	Divestitures
	On June 30, 2014, we completed the sale of our data center to Quality Technology Services, LLC which owns, operates, and manages data centers. Proceeds from the sale were $58 million which are recorded within other current assets in the consolidated balance sheet due to timing of the receipt of payment. The sale includes all of the facilities and equipment on the south campus of our East Windsor, New Jersey location, inclusive of the rights and obligations associated with an adjoining solar power field. The sale resulted in an expense of $3 million recorded within other loss in our consolidated statement of income, which is in addition to the non-cash impairment charge we recorded in the fourth quarter of 2013.
	On March 22, 2013, we completed the sale of McGraw-Hill Education ("MHE") to investment funds affiliated with Apollo Global Management, LLC for a purchase price of $2.4 billion in cash. We recorded an after-tax gain on the sale of $612 million for the six months ended June 30, 2013, which is included in discontinued operations, net in the consolidated statement of income. During the three months ended September 30, 2013, we adjusted the after tax gain on the sale of MHE, primarily due to post-closing working capital adjustments. For the year ended December 31, 2013, we recorded an after-tax gain on the sale of $589 million. We have used a portion of the after-tax proceeds from the sale to pay down short-term debt, for the special dividend paid in 2012, and to continue share repurchases. We intend to continue to use a portion of the after-tax proceeds to make selective acquisitions and support general corporate purposes.
	The key components of income from discontinued operations for the periods ended June 30, 2013 consist of the following:
	(in millions)	Three Months			Six Months
	Revenue	$	—		$	268
	Expenses	(2		)	312
	Operating income (loss)	2			(44		)
	Interest expense, net	—			1
	Income (loss) before taxes on income (loss)	2			(45		)
	Benefit for taxes on income (loss) 1	(2		)	(18		)
	Income (loss) from discontinued operations, net of tax	4			(27		)
	Pre-tax gain on sale from discontinued operations	—			920
	Provision for taxes on income	—			308
	Gain on sale of discontinued operations, net of tax	—			612
	Discontinued operations, net	4			585
	Less: net loss attributable to noncontrolling interests	—			1
	Income from discontinued operations attributable to McGraw Hill Financial, Inc. common shareholders	$	4		$	586
	1	Benefit for taxes on income for the three months ended June 30, 2013 includes certain adjustments to the discontinued operations provision recorded for the three months ended March 31, 2013.

Income_Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2014
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	Income Taxes
	The effective income tax rate for continuing operations was 33.1% and 33.5% for the three and six months ended June 30, 2014, respectively, and 35.0% and 34.5% for the three and six months ended June 30, 2013, respectively. The reduction in the effective income tax rate during the three and six months ended June 30, 2014 was primarily related to an additional benefit for the Domestic Production Activities Deduction, partially offset by an increase in income in higher tax rate jurisdictions.
	At the end of each interim period, we estimate the annual effective tax rate and apply that rate to our ordinary quarterly earnings. The tax expense or benefit related to significant, unusual or extraordinary items that will be separately reported or reported net of their related tax effect, and are individually computed, are recognized in the interim period in which those items occur. In addition, the effect of changes in enacted tax laws or rates or tax status is recognized in the interim period in which the change occurs.
	As of June 30, 2014 and December 31, 2013, the total amount of federal, state and local, and foreign unrecognized tax benefits was $86 million and $82 million, respectively, exclusive of interest and penalties. We recognize accrued interest and penalties related to unrecognized tax benefits in interest expense and operating-related expense, respectively. In addition to the unrecognized tax benefits, as of June 30, 2014 and December 31, 2013, we had $16 million and $19 million, respectively of accrued interest and penalties associated with uncertain tax positions.
	Based on the current status of income tax audits, we believe that it is reasonably possible that the total amount of unrecognized tax benefits will significantly decrease in the next twelve months. Although the ultimate resolution of our tax audits is unpredictable, the resulting change in our unrecognized tax benefits could have a material impact on our results of operations and/or cash flows.

Debt

Debt	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Debt	'
	Debt
	(in millions)	June 30,		December 31,
		2014		2013
	5.9% Senior Notes, due 2017 1	$	400	$	400
	6.55% Senior Notes, due 2037 2	399		399
	Long-term debt	$	799	$	799
	1	Interest payments are due semiannually on April 15 and October 15, and, as of June 30, 2014, the unamortized debt discount is less than $1 million.
	2	Interest payments are due semiannually on May 15 and November 15, and, as of June 30, 2014, the unamortized debt discount is approximately $1 million.
	The fair value of our long-term debt borrowings was $861 million and $801 million as of June 30, 2014 and December 31, 2013, respectively, and was estimated based on quoted market prices.
	Currently, we have the ability to borrow a total of $1.0 billion through our commercial paper program, which is supported by our $1.0 billion four-year credit agreement (our “credit facility”) that we entered into in June of 2013. This credit facility will terminate on June 19, 2017. As of June 30, 2014 and December 31, 2013, we had no outstanding commercial paper.
	We pay a commitment fee of 20 to 45 basis points for our credit facility, depending on our indebtedness to cash flow ratio, whether or not amounts have been borrowed, and currently pay a commitment fee of 20 basis points. The interest rate on borrowings under our credit facility is, at our option, calculated using rates that are primarily based on either the prevailing London Inter-Bank Offer Rate, the prime rate determined by the administrative agent or the Federal Funds Rate. For certain borrowings under this credit facility, there is also a spread based on our indebtedness to cash flow ratio added to the applicable rate.
	Our credit facility contains certain covenants. The only financial covenant requires that our indebtedness to cash flow ratio, as defined in our credit facility, is not greater than 3.25 to 1, and this covenant level has never been exceeded.

Employee_Benefits

Employee Benefits	6 Months Ended
	Jun. 30, 2014
Compensation and Retirement Disclosure [Abstract]	'
Employee Benefits	'
	Employee Benefits
	We maintain a number of active defined contribution retirement plans for our employees. The majority of our defined benefit plans are frozen. As a result, no new employees will be permitted to enter these plans and no additional benefits for current participants in the frozen plans will be accrued.
	We have supplemental benefit plans that provide senior management with supplemental retirement, disability and death benefits. Certain supplemental retirement benefits are based on final monthly earnings. In addition, we sponsor voluntary 401(k) plans under which we may match employee contributions up to certain levels of compensation as well as profit-sharing plans under which we contribute a percentage of eligible employees' compensation to the employees' accounts.
	We also provide certain medical, dental and life insurance benefits for active and retired employees and eligible dependents. The medical and dental plans and supplemental life insurance plan are contributory, while the basic life insurance plan is noncontributory. We currently do not prefund any of these plans.
	We recognize the funded status of our defined benefit retirement and postretirement plans in the consolidated balance sheets, with a corresponding adjustment to accumulated other comprehensive loss, net of taxes. The amounts in accumulated other comprehensive loss represent unrecognized actuarial losses and unrecognized prior service costs. These amounts will be subsequently recognized as net periodic pension cost pursuant to our accounting policy for amortizing such amounts.
	As discussed in our Form 10-K, we changed certain discount rate assumptions and our expected return on assets assumption for our retirement plans, which became effective on January 1, 2014. The effect of the assumption changes on retirement expense for the three and six months ended June 30, 2014 did not have a material impact on our consolidated financial statements.
	In the first six months of 2014, we contributed $10 million to our retirement plans and expect to make additional required contributions of approximately $14 million to our retirement plans during the remainder of the year. We may elect to make additional non-required contributions depending on investment performance and the pension plan status in the second half of 2014.

StockBased_Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Stock-Based Compensation	'
	Stock-Based Compensation
	We issue stock-based incentive awards to our eligible employees and Directors under the 2002 Employee Stock Incentive Plan and a Director Deferred Stock Ownership Plan. The 2002 Employee Stock Incentive Plan permits the granting of nonqualified stock options, stock appreciation rights, performance stock, restricted stock and other stock-based awards.
	Stock-based compensation for the periods ended June 30 is as follows:
	(in millions)	Three Months				Six Months
		2014		2013		2014		2013
	Stock option expense	$	6	$	4	$	9	$	6
	Restricted stock and unit awards expense	24		22		39		41
	Total stock-based compensation expense	$	30	$	26	$	48	$	47
	For the six months ended June 30, 2014, the Company granted 0.8 million employee stock options, which had a weighted average grant date value of $23.38 per share based on the lattice-based option-pricing model. The Company also granted 0.7 million shares of restricted stock and unit awards, which had a weighted average grant date fair value of $77.67 per share.
	Total unrecognized compensation expense related to unvested stock option awards and unvested restricted stock unit awards as of June 30, 2014 was $21 million and $101 million, respectively, which is expected to be recognized over a weighted average period of 2.5 years and 1.8 years, respectively.

Equity

Equity	6 Months Ended
	Jun. 30, 2014
Equity [Abstract]	'
Equity	'
	Equity
	Stock Repurchases
	On December 4, 2013, the Board of Directors approved a new stock repurchase program authorizing the purchase of 50 million shares, which was approximately 18% of the total shares of our outstanding common stock at that time.
	In any period, share repurchase transactions could result in timing differences between the recognition of those repurchases and their settlement for cash. This could result in a difference between the cash used for financing activities related to common stock repurchased and the comparable change in equity.
	Share repurchases for the periods ended June 30 were as follows:
	(in millions, except average price)	Three Months							Six Months
		2014			2013				2014				2013
	Total number of shares purchased 1, 2	2.2			1.4				4.4				8.6
	Average price paid per share 2	$	79.65		$	—			$	79.06			$	—
	Total cash utilized 3	$	177		$	—			$	352			$	500
	1	The six month period ended June 30, 2013 includes shares received as part of our accelerated share repurchase agreements described in more detail below.
	2	On June 25, 2014, we repurchased 0.5 million shares of the Company's common stock from the personal holdings of Harold W. McGraw III, Chairman of the Company's Board of Directors and former President and CEO of the Company, at a discount of 0.35% from the June 24, 2014 New York Stock Exchange closing price. We repurchased these shares with cash for $41 million at an average price of $82.66 per share. See Note 13 — Related Party Transactions for further information.
	3	In December of 2013, 0.1 million shares were repurchased for approximately $10 million, which settled in January of 2014. Cash used for financing activities only reflects those shares which settled during the six months ended June 30, 2014 resulting in $362 million of cash used to repurchase shares.
	Our purchased shares may be used for general corporate purposes, including the issuance of shares for stock compensation plans and to offset the dilutive effect of the exercise of employee stock options. As of June 30, 2014, 45.6 million shares remained available under the current share repurchase program which has no expiration date and purchases under this program may be made from time to time on the open market and in private transactions, depending on market conditions.
	Accelerated Share Repurchase Program
	We entered into an accelerated share repurchase (“ASR”) agreement with a financial institution on March 25, 2013 to initiate share repurchases aggregating $500 million. The ASR agreement was structured as a capped ASR agreement in which we paid $500 million and received an initial delivery of approximately 7.2 million shares during the three months ended March 31, 2013, with an additional 1.4 million shares received on April 1, 2013, in the aggregate, representing the minimum number of shares of our common stock to be repurchased based on a calculation using a specific capped price per share. The total number of shares ultimately purchased was determined based on the volume weighted-average share price (“VWAP”), minus a discount, of our common stock from March 25, 2013 through July 22, 2013. On July 25, 2013, we received a final incremental delivery of 0.7 million shares determined using a VWAP of $53.7995, bringing the total amount of shares received to 9.3 million.
	Redeemable Noncontrolling Interests
	The agreement with the minority partners of our S&P Dow Jones Indices LLC established in June of 2012 contains redemption features whereby interests held by minority partners are redeemable either (i) at the option of the holder or (ii) upon the occurrence of an event that is not solely within our control. Specifically, under the terms of the operating agreement of S&P Dow Jones Indices LLC, after December 31, 2017, CME Group, Inc. ("CME Group") and CME Group Index Services LLC ("CGIS") will have the right at any time to sell, and we are obligated to buy, at least 20% of their share in S&P Dow Jones Indices LLC. In addition, in the event there is a change of control of the Company, for the 15 days following a change in control, CME Group and CGIS will have the right to put their interest to us at the then fair value of CME Group's and CGIS' minority interest.
	If interests were to be redeemed under this agreement, we would generally be required to purchase the interest at fair value on the date of redemption. This interest is presented on the consolidated balance sheets outside of equity under the caption “Redeemable noncontrolling interest” with an initial value based on fair value for the portion attributable to the net assets we acquired, and based on our historical cost for the portion attributable to our S&P Index business. We adjust the redeemable noncontrolling interest each reporting period to its estimated redemption value, but never less than its initial fair value, considering a combination of an income and market valuation approach. Our income and market valuation approaches may incorporate Level 3 fair value measures for instances when observable inputs are not available, including assumptions related to expected future net cash flows, long-term growth rates, the timing and nature of tax attributes, and the redemption features. Any adjustments to the redemption value will impact retained income.
	Noncontrolling interests that do not contain such redemption features are presented in equity.
	Changes to redeemable noncontrolling interest during the six months ended June 30, 2014 were as follows:
	(in millions)
	Balance as of December 31, 2013	$	810
	Net income attributable to noncontrolling interest	46
	Distributions to noncontrolling interest	(45		)
	Redemption value adjustment	(1		)
	Balance as of June 30, 2014	$	810
	Accumulated Other Comprehensive Loss
	The following table summarizes the changes in the components of accumulated other comprehensive loss for the six months ended June 30, 2014:
	(in millions)	Foreign Currency Translation Adjustment			Pension and Postretirement Benefit Plans					Unrealized Gain (Loss) on Forward Exchange Contracts				Accumulated Other Comprehensive Loss
	Balance as of December 31, 2013	$	23		$	(216	)			$	(3	)		$	(196	)
	Other comprehensive income before reclassifications	12			(36		)			3				(21		)
	Reclassifications from accumulated other comprehensive loss to net earnings	—			3			1		—				3
	Net other comprehensive income	12			(33		)			3				(18		)
	Balance as of June 30, 2014	$	35		$	(249	)			$	—			$	(214	)
	1	See Note 5 — Employee Benefits for additional details of items reclassed from accumulated other comprehensive loss to net earnings.
	The net actuarial loss and prior service cost related to pension and other postretirement benefit plans included in other comprehensive income is net of a tax provision of $2 million for the six months ended June 30, 2014.

Earnings_Per_Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share	'
	Earnings Per Share
	Basic earnings per common share (“EPS”) is computed by dividing net income attributable to the common shareholders of the Company by the weighted-average number of common shares outstanding. Diluted EPS is computed in the same manner as basic EPS, except the number of shares is increased to include additional common shares that would have been outstanding if potential common shares with a dilutive effect had been issued. Potential common shares consist primarily of stock options and restricted performance shares calculated using the treasury stock method.
	The calculation for basic and diluted EPS for the periods ended June 30 is as follows:
	(in millions, except per share amounts)	Three Months Ended				Six Months Ended
		2014		2013		2014		2013
	Amounts attributable to McGraw Hill Financial, Inc. common shareholders:
	Income from continuing operations	$	292	$	250	$	540	$	403
	Income from discontinued operations	—		4		—		586
	Net income	$	292	$	254	$	540	$	989
	Basic weighted-average number of common shares outstanding	271.5		274.3		271.7		277.4
	Effect of stock options and other dilutive securities	4.6		4		5		3.9
	Diluted weighted-average number of common shares outstanding	276.1		278.3		276.7		281.3
	Earnings per share attributable to McGraw Hill Financial, Inc. common shareholders:
	Income from continuing operations:
	Basic	$	1.08	$	0.91	$	1.99	$	1.45
	Diluted	$	1.06	$	0.9	$	1.95	$	1.43
	Income from discontinued operations:
	Basic	$	—	$	0.01	$	—	$	2.11
	Diluted	$	—	$	0.01	$	—	$	2.08
	Net income:
	Basic	$	1.08	$	0.93	$	1.99	$	3.57
	Diluted	$	1.06	$	0.91	$	1.95	$	3.52
	Each period we have certain stock options and restricted performance shares that are excluded from the computation of diluted EPS. The effect of the potential exercise of stock options is excluded when the average market price of our common stock is lower than the exercise price of the related option during the period because the effect would have been antidilutive. Additionally, restricted performance shares are excluded because the necessary vesting conditions had not been met. For the three and six months ended June 30, 2014, there were a minimal amount of stock options excluded as compared to 2.7 million and 2.8 million stock options excluded for the three and six months ended June 30, 2013, respectively. Additionally, restricted performance shares outstanding of 1.4 million and 2.3 million as of June 30, 2014 and 2013, respectively, were excluded.

Restructuring

Restructuring	6 Months Ended
	Jun. 30, 2014
Restructuring and Related Activities [Abstract]	'
Restructuring	'
	Restructuring
	During 2013, we continued to evaluate our cost structure and further identified cost savings associated with streamlining our management structure and our decision to exit non-strategic businesses. The resulting restructuring plan consisted of a company-wide workforce reduction of approximately 520 positions and is further detailed below. The charges for the restructuring plan are classified as selling and general expenses within the consolidated statements of income and the reserves are included in other current liabilities in the consolidated balance sheets.
	In certain circumstances, reserves are no longer needed because of efficiencies in carrying out the plans or because employees previously identified for separation resigned from the Company and did not receive severance or were reassigned due to circumstances not foreseen when the original plans were initiated. In these cases, we reverse reserves through the consolidated statements of income during the period when it is determined they are no longer needed.
	The initial restructuring charge recorded and the ending reserve balance as of June 30, 2014 by segment is as follows:
	(in millions)	Initial Charge Recorded		Ending Reserve Balance
	S&P Ratings	$	13	$	11
	S&P Capital IQ	10		2
	C&C	10		4
	Corporate	16		6
	Total	$	49	$	23
	The ending reserve balance for the 2013 restructuring plan was $39 million as of December 31, 2013. For the six months ended June 30, 2014, we have reduced the reserve for the 2013 restructuring plan by $16 million.

Segment_and_Related_Informatio

Segment and Related Information	6 Months Ended
	Jun. 30, 2014
Segment Reporting [Abstract]	'
Segment and Related Information	'
	Segment and Related Information
	We have four reportable segments: S&P Ratings, S&P Capital IQ, S&P DJ Indices and C&C. Our Chief Executive Officer is our chief operating decision-maker and evaluates performance of our segments and allocates resources based primarily on operating profit. Segment operating profit does not include unallocated expense or interest expense as these are costs that do not affect the operating results of our segments.
	As part of our transformation to McGraw Hill Financial, a comprehensive review of our accounting and reporting practices and policies was undertaken. As a result, beginning on January 1, 2014, all shared operating services have been fully allocated to the segments utilizing a methodology that more closely aligns with each segment's usage of these services. The costs that remain in unallocated expense primarily relate to corporate center functions. The updated methodology is reflected in the segment results for the three and six months ended June 30, 2014 and accordingly, the segment results for the prior-year comparative periods have been reclassified to conform with the new presentation.
	A summary of operating results by segment for the periods ended June 30 is as follows:
	Three Months	2014						2013
	(in millions)	Revenue			Operating Profit			Revenue			Operating Profit
	S&P Ratings	$	664		$	308		$	599		$	268
	S&P Capital IQ	307			54			287			49
	S&P DJ Indices	133			82			123			77
	C&C	263			83			259			83
	Intersegment elimination 1	(21		)	—			(18		)	—
	Total operating segments	1,346			527			1,250			477
	Unallocated expense 2	—			(41		)	—			(41		)
	Total	$	1,346		$	486		$	1,250		$	436
	Six Months	2014						2013
	(in millions)	Revenue			Operating Profit			Revenue			Operating Profit
	S&P Ratings	$	1,233		$	548		$	1,161		$	517
	S&P Capital IQ	608			107			575			99
	S&P DJ Indices	269			174			238			141
	C&C	514			159			496			143
	Intersegment elimination 1	(43		)	—			(39		)	—
	Total operating segments	2,581			988			2,431			900
	Unallocated expense 2	—			(72		)	—			(186		)
	Total	$	2,581		$	916		$	2,431		$	714
	1	Revenue for S&P Ratings and expenses for S&P Capital IQ include an intersegment royalty charged to S&P Capital IQ for the rights to use and distribute content and data developed by S&P Ratings.
	2	The three and six months ended June 30, 2013 include costs necessary to enable the separation of MHE and reduce our cost structure of $10 million and $54 million, respectively. The six months ended June 30, 2013 also includes pre-tax legal settlements of approximately $77 million.
	See Note 2 — Acquisitions and Divestitures and Note 9 — Restructuring for additional actions that impacted the segment operating results.

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	Commitments and Contingencies
	Rental Expense and Lease Obligations
	In December of 2003, we sold our 45% equity investment in Rock-McGraw, Inc., which owns our headquarters building in New York City, and remained an anchor tenant in our corporate headquarters building in New York City by concurrently leasing back space from the buyer through 2020. In December of 2013, we entered into an arrangement with the buyer to shorten the lease to December 2015 in exchange for approximately $60 million which was recorded as a reduction to the unrecognized deferred gain from the sale. The remaining gain is being amortized over the remaining lease term as a reduction in rent expense.
	As of June 30, 2014, the remaining deferred gain was $34 million, as $6 million and $12 million was amortized during the three and six months ended June 30, 2014, respectively. Interest expense associated with this operating lease was less than $1 million for the three months ended June 30, 2014 and $1 million for the six months ended June 30, 2014.
	Legal Matters
	The following amends the disclosure in Note 12 — Commitments and Contingencies to the consolidated financial statements of our Form 10-K.
	•	In connection with the numerous actions brought against the Company and Standard & Poor's Financial Services LLC subsidiary ("S&P LLC") by the attorneys general of various states and the District of Columbia, the Company and S&P LLC had removed most of the actions to federal court and obtained an order consolidating the cases before the United States District Court for the Southern District of New York. The states moved to have the cases remanded to state court. Those motions to remand were granted on June 3, 2014; the cases are now proceeding in their respective state courts. Discovery in these cases is ongoing.
	•	In connection with the Parmalat civil proceedings, the Court of Appeals of Milan issued an Order on July 2, 2014, reopening the proceedings to allow the parties to submit additional pleadings. Submissions are due no later than October 9, 2014 and a hearing has been scheduled for October 29, 2014.
	•	On July 22, 2014, the Company  received a “Wells Notice” from the Staff of the U.S. Securities and Exchange Commission (the “SEC”) stating that the Staff has made a preliminary determination to recommend that the SEC institute an enforcement action against Standard & Poor’s Ratings Services (“S&P Ratings”), alleging violations of federal securities laws with respect to S&P Rating’s ratings of six commercial mortgage backed securities transactions issued in 2011, and public disclosure made by S&P Ratings regarding those ratings thereafter. In connection with the contemplated action, the Staff may recommend that the SEC seek remedies that include a cease-and-desist order, disgorgement, pre-judgment interest, civil money penalties, and remedial sanctions such as revocation or suspension of S&P Rating's NRSRO registration. The Wells Notice is neither a formal allegation nor a finding of wrongdoing. It allows S&P Ratings the opportunity to provide its perspective and to address the issues raised by the Staff before any decision is made by the SEC on whether to authorize the commencement of an enforcement proceeding. S&P Ratings has been cooperating with the SEC in this matter and intends to continue to do so.
	There were no other amendments to the disclosures in Note 12 — Commitments and Contingencies to the consolidated financial statements of our Form 10-K, including to the disclosure of the Department of Justice's civil complaint filed on February 4, 2013 in the United States District Court for the Central District of California against the Company and S&P LLC alleging violations of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 regarding Standard & Poor's Rating Services ratings in 2004 - 2007 of certain U.S. collateralized debt obligations and Standard & Poor's Ratings Services models for certain structured finance products.
	We believe that the claims asserted and/or contemplated in the proceedings described in Note 12 — Commitments and Contingencies to the consolidated financial statements of our Form 10-K, and amended above, have no basis and they will be vigorously defended by the Company and/or the subsidiaries involved.
	In view of the inherent difficulty of predicting the outcome of legal matters, particularly where the claimants seek very large or indeterminate damages, or where the cases present novel legal theories, involve a large number of parties or are in early stages of discovery, we cannot state with confidence what the eventual outcome of the pending matters described in Note 12 — Commitments and Contingencies to the consolidated financial statements of our Form 10-K, and amended above, will be, what the timing of the ultimate resolution of these matters will be or what the eventual loss, fines, penalties or impact related to each pending matter may be. We believe, based on our current knowledge, the outcome of the legal actions, proceedings and investigations currently pending should not have a material, adverse effect on our consolidated financial statements.

Recent_Accounting_Standards

Recent Accounting Standards	6 Months Ended
	Jun. 30, 2014
Accounting Changes and Error Corrections [Abstract]	'
Recent Accounting Standards	'
	Recent Accounting Standards
	In May of 2014, the Financial Accounting Standards Board (“FASB”) and the International Accounting Standards Board (“IASB”) issued jointly a converged standard on the recognition of revenue from contracts with customers which is intended to improve the financial reporting of revenue and comparability of the top line in financial statements globally. The core principle of the new standard is for the recognition of revenue to depict the transfer of goods or services to customers in amounts that reflect the payment to which the company expects to be entitled in exchange for those goods or services. The new standard will also result in enhanced revenue disclosures, provide guidance for transactions that were not previously addressed comprehensively and improve guidance for multiple-element arrangements. The amendments are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early adoption is not permitted. We are currently in the process of assessing the impact the adoption of this guidance will have on our consolidated financial statements.
	In April of 2014, the FASB issued final guidance that raises the threshold for a disposal to qualify as a discontinued operation and requires new disclosures of both discontinued operations and certain other disposals that do not meet the definition of a discontinued operation. The guidance is intended to reduce the frequency of disposals reported as discontinued operations by focusing on strategic shifts that have or will have a major effect on an entity’s operations and financial results. In addition, the guidance permits companies to have continuing cash flows and significant continuing involvement with the disposed component. The FASB’s amended guidance is effective for our annual reporting period beginning January 1, 2015, however, early adoption is permitted. We do not expect the adoption of the guidance to have a significant impact on our consolidated financial statements.
	In July of 2013, the FASB issued amended guidance that resolves the diversity in practice for the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. This new accounting guidance requires the netting of unrecognized tax benefits ("UTBs") against a deferred tax asset for a loss or other carryforward that would apply in settlement of the uncertain tax positions. Under the new standard, UTBs will be netted against all available same-jurisdiction loss or other tax carryforwards that would be utilized, rather than only against carryforwards that are created by the UTBs. The new standard requires prospective adoption but allows retrospective adoption for all periods presented. The amendments were effective on January 1, 2014, and the adoption of the guidance did not have a significant impact on our consolidated financial statements.
	In March of 2013, the FASB issued amended guidance that resolves the diversity in practice for the accounting for the cumulative translation adjustment upon derecognition of certain subsidiaries or groups of assets within a foreign entity. The amended guidance requires that when a parent entity ceases to have a controlling financial interest in a subsidiary or group of assets within a foreign entity, the parent is required to release any related cumulative translation adjustment into net income in instances when a sale or transfer results in the complete or substantially complete liquidation of the foreign entity in which the subsidiary or group of assets had resided. Additionally, the amended guidance clarifies that the sale of an investment in a foreign entity includes both (1) events that result in the loss of a controlling financial interest in a foreign entity and (2) events that result in an acquirer obtaining control of an acquiree in which it held an equity interest immediately before the acquisition date. In these instances, an entity is required to release the cumulative translation adjustment into net income. The amendments were effective on January 1, 2014, and the adoption of the guidance did not have a significant impact on our consolidated financial statements.

Related_Party_Transactions_Not

Related Party Transactions (Notes)	6 Months Ended
	Jun. 30, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions	'
	Related Party Transactions
	On July 2, 2014, we entered into an aircraft purchase agreement with Harold W. McGraw III, Chairman of the Company's Board of Directors and former President and CEO of the Company ("Mr. McGraw"). The purchase price for the Company's aircraft is $20 million, which is modestly higher than the independent appraisal obtained, and Mr. McGraw’s purchase is subject to customary closing conditions. This transaction was approved by the Nominating & Corporate Governance Committee of the Company's Board of Directors after consultation with members of the Financial Policy Committee. As a result of the pending sale we have recorded a non-cash impairment charge of $6 million within other loss in our consolidated statement of income.
	On June 25, 2014, we repurchased 0.5 million shares of the Company's common stock from the personal holdings of Mr. McGraw. The shares were purchased at a discount of 0.35% from the June 24, 2014 New York Stock Exchange closing price pursuant to a private transaction with Mr. McGraw. We repurchased these shares with cash for $41 million at an average price of $82.66 per share. This transaction was approved by the Nominating & Corporate Governance Committee of the Company's Board of Directors after consultation with members of the Financial Policy Committee.
	In June of 2012, we entered into a new license agreement (the "License Agreement") with the holder of S&P Dow Jones Indices LLC noncontrolling interest, CME Group, which replaced the 2005 license agreement between S&P DJ Indices and CME Group. Under the terms of the License Agreement, S&P Dow Jones Indices LLC receives a share of the profits from the trading and clearing of CME Group's equity index products. During the three and six months ended June 30, 2014, S&P Dow Jones Indices LLC earned $13 million and $25 million, respectively, of revenue under the terms of the License Agreement. The entire amount of this revenue is included in our consolidated statement of income and the portion related to the 27% noncontrolling interest is removed in net income attributable to noncontrolling interests.

Acquisitions_and_Divestitures_

Acquisitions and Divestitures (Tables)	6 Months Ended
	Jun. 30, 2014
Business Combinations [Abstract]	'
Schedule of components of income and assets and liabilities from discontinued operations	'
	The key components of income from discontinued operations for the periods ended June 30, 2013 consist of the following:
	(in millions)	Three Months			Six Months
	Revenue	$	—		$	268
	Expenses	(2		)	312
	Operating income (loss)	2			(44		)
	Interest expense, net	—			1
	Income (loss) before taxes on income (loss)	2			(45		)
	Benefit for taxes on income (loss) 1	(2		)	(18		)
	Income (loss) from discontinued operations, net of tax	4			(27		)
	Pre-tax gain on sale from discontinued operations	—			920
	Provision for taxes on income	—			308
	Gain on sale of discontinued operations, net of tax	—			612
	Discontinued operations, net	4			585
	Less: net loss attributable to noncontrolling interests	—			1
	Income from discontinued operations attributable to McGraw Hill Financial, Inc. common shareholders	$	4		$	586
	1	Benefit for taxes on income for the three months ended June 30, 2013 includes certain adjustments to the discontinued operations provision recorded for the three months ended March 31, 2013.

Debt_Tables

Debt (Tables)	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Schedule of debt	'
	(in millions)	June 30,		December 31,
		2014		2013
	5.9% Senior Notes, due 2017 1	$	400	$	400
	6.55% Senior Notes, due 2037 2	399		399
	Long-term debt	$	799	$	799
	1	Interest payments are due semiannually on April 15 and October 15, and, as of June 30, 2014, the unamortized debt discount is less than $1 million.
	2	Interest payments are due semiannually on May 15 and November 15, and, as of June 30, 2014, the unamortized debt discount is approximately $1 million.

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Stock-Based Compensation	'
	Stock-based compensation for the periods ended June 30 is as follows:
	(in millions)	Three Months				Six Months
		2014		2013		2014		2013
	Stock option expense	$	6	$	4	$	9	$	6
	Restricted stock and unit awards expense	24		22		39		41
	Total stock-based compensation expense	$	30	$	26	$	48	$	47

Equity_Tables

Equity (Tables)	6 Months Ended
	Jun. 30, 2014
Equity [Abstract]	'
Schedule of stock repurchases	'
	Share repurchases for the periods ended June 30 were as follows:
	(in millions, except average price)	Three Months							Six Months
		2014			2013				2014				2013
	Total number of shares purchased 1, 2	2.2			1.4				4.4				8.6
	Average price paid per share 2	$	79.65		$	—			$	79.06			$	—
	Total cash utilized 3	$	177		$	—			$	352			$	500
	1	The six month period ended June 30, 2013 includes shares received as part of our accelerated share repurchase agreements described in more detail below.
	2	On June 25, 2014, we repurchased 0.5 million shares of the Company's common stock from the personal holdings of Harold W. McGraw III, Chairman of the Company's Board of Directors and former President and CEO of the Company, at a discount of 0.35% from the June 24, 2014 New York Stock Exchange closing price. We repurchased these shares with cash for $41 million at an average price of $82.66 per share. See Note 13 — Related Party Transactions for further information.
	3	In December of 2013, 0.1 million shares were repurchased for approximately $10 million, which settled in January of 2014. Cash used for financing activities only reflects those shares which settled during the six months ended June 30, 2014 resulting in $362 million of cash used to repurchase shares.
Schedule of redeemable noncontrolling interest	'
	Changes to redeemable noncontrolling interest during the six months ended June 30, 2014 were as follows:
	(in millions)
	Balance as of December 31, 2013	$	810
	Net income attributable to noncontrolling interest	46
	Distributions to noncontrolling interest	(45		)
	Redemption value adjustment	(1		)
	Balance as of June 30, 2014	$	810
Schedule of changes in the components of accumulated other comprehensive loss	'
	The following table summarizes the changes in the components of accumulated other comprehensive loss for the six months ended June 30, 2014:
	(in millions)	Foreign Currency Translation Adjustment			Pension and Postretirement Benefit Plans					Unrealized Gain (Loss) on Forward Exchange Contracts				Accumulated Other Comprehensive Loss
	Balance as of December 31, 2013	$	23		$	(216	)			$	(3	)		$	(196	)
	Other comprehensive income before reclassifications	12			(36		)			3				(21		)
	Reclassifications from accumulated other comprehensive loss to net earnings	—			3			1		—				3
	Net other comprehensive income	12			(33		)			3				(18		)
	Balance as of June 30, 2014	$	35		$	(249	)			$	—			$	(214	)
	1	See Note 5 — Employee Benefits for additional details of items reclassed from accumulated other comprehensive loss to net earnings.

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Schedule of calculation for basic and diluted EPS	'
	The calculation for basic and diluted EPS for the periods ended June 30 is as follows:
	(in millions, except per share amounts)	Three Months Ended				Six Months Ended
		2014		2013		2014		2013
	Amounts attributable to McGraw Hill Financial, Inc. common shareholders:
	Income from continuing operations	$	292	$	250	$	540	$	403
	Income from discontinued operations	—		4		—		586
	Net income	$	292	$	254	$	540	$	989
	Basic weighted-average number of common shares outstanding	271.5		274.3		271.7		277.4
	Effect of stock options and other dilutive securities	4.6		4		5		3.9
	Diluted weighted-average number of common shares outstanding	276.1		278.3		276.7		281.3
	Earnings per share attributable to McGraw Hill Financial, Inc. common shareholders:
	Income from continuing operations:
	Basic	$	1.08	$	0.91	$	1.99	$	1.45
	Diluted	$	1.06	$	0.9	$	1.95	$	1.43
	Income from discontinued operations:
	Basic	$	—	$	0.01	$	—	$	2.11
	Diluted	$	—	$	0.01	$	—	$	2.08
	Net income:
	Basic	$	1.08	$	0.93	$	1.99	$	3.57
	Diluted	$	1.06	$	0.91	$	1.95	$	3.52

Restructuring_Tables

Restructuring (Tables)	6 Months Ended
	Jun. 30, 2014
Restructuring and Related Activities [Abstract]	'
Schedule of initial restructuring charge recorded and the ending reserve balance	'
	The initial restructuring charge recorded and the ending reserve balance as of June 30, 2014 by segment is as follows:
	(in millions)	Initial Charge Recorded		Ending Reserve Balance
	S&P Ratings	$	13	$	11
	S&P Capital IQ	10		2
	C&C	10		4
	Corporate	16		6
	Total	$	49	$	23

Segment_and_Related_Informatio1

Segment and Related Information (Tables)	6 Months Ended
	Jun. 30, 2014
Segment Reporting [Abstract]	'
Schedule of operating results by segment	'
	A summary of operating results by segment for the periods ended June 30 is as follows:
	Three Months	2014						2013
	(in millions)	Revenue			Operating Profit			Revenue			Operating Profit
	S&P Ratings	$	664		$	308		$	599		$	268
	S&P Capital IQ	307			54			287			49
	S&P DJ Indices	133			82			123			77
	C&C	263			83			259			83
	Intersegment elimination 1	(21		)	—			(18		)	—
	Total operating segments	1,346			527			1,250			477
	Unallocated expense 2	—			(41		)	—			(41		)
	Total	$	1,346		$	486		$	1,250		$	436
	Six Months	2014						2013
	(in millions)	Revenue			Operating Profit			Revenue			Operating Profit
	S&P Ratings	$	1,233		$	548		$	1,161		$	517
	S&P Capital IQ	608			107			575			99
	S&P DJ Indices	269			174			238			141
	C&C	514			159			496			143
	Intersegment elimination 1	(43		)	—			(39		)	—
	Total operating segments	2,581			988			2,431			900
	Unallocated expense 2	—			(72		)	—			(186		)
	Total	$	2,581		$	916		$	2,431		$	714
	1	Revenue for S&P Ratings and expenses for S&P Capital IQ include an intersegment royalty charged to S&P Capital IQ for the rights to use and distribute content and data developed by S&P Ratings.
	2	The three and six months ended June 30, 2013 include costs necessary to enable the separation of MHE and reduce our cost structure of $10 million and $54 million, respectively. The six months ended June 30, 2013 also includes pre-tax legal settlements of approximately $77 million.

Nature_of_Operations_and_Basis1

Nature of Operations and Basis of Presentation (Details)	3 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2014
	Segment	Segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'	'
Number of reportable segments (in segments)	4	4

Acquisitions_and_Divestitures_1

Acquisitions and Divestitures (Narrative) (Details) (USD $)	1 Months Ended	3 Months Ended		6 Months Ended		0 Months Ended			6 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2014	Mar. 22, 2013	Jun. 30, 2013	Dec. 31, 2013
	Country					Data Center [Member]	Data Center [Member]	MHE	MHE	MHE
	company					Other Current Assets [Member]	Other Loss [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'	'	'	'	'	'	'	'
Minimum Number of Companies Represented in Broad Market Indices	11,000	'	'	'	'	'	'	'	'	'
Minimum Number of Countries Represented in Broad Market Indices	52	'	'	'	'	'	'	'	'	'
Contingent consideration payment	'	'	'	$11	$12	'	'	'	'	'
After-tax gain (loss) on sale of business	'	0	0	0	612	'	-3	'	612	589
Cash proceeds from sale of business	'	'	'	'	'	$58	'	$2,400	'	'

Acquisitions_and_Divestitures_2

Acquisitions and Divestitures (Details) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Components of income from discontinued operations	'	'	'	'
Revenue	'	$0	'	$268
Expenses	'	-2	'	312
Operating income (loss)	'	2	'	-44
Interest expense, net	'	0	'	1
Income (loss) before taxes on income (loss)	'	2	'	-45
Benefit for taxes on income (loss)	'	-2	'	-18
Income (loss) from discontinued operations, net of tax	0	4	0	-27
Pre-tax gain on sale from discontinued operations	'	0	'	920
Provision for taxes on income	'	0	'	308
Gain on sale of discontinued operations, net of tax	0	0	0	612
Discontinued operations, net	0	4	0	585
Less: net loss attributable to noncontrolling interests	0	0	0	1
Income from discontinued operations attributable to McGraw Hill Financial, Inc. common shareholders	$0	$4	$0	$586

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Income Tax Disclosure [Abstract]	'	'	'	'	'
Effective income tax rate	33.10%	35.00%	33.50%	34.50%	'
Unrecognized tax benefits	$86	'	$86	'	$82
Accrued interest and penalties associated with uncertain tax positions	$16	'	$16	'	$19

Debt_Details

Debt (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Debt Instrument [Line Items]	'	'
Long-term debt	$799	$799
5.9% Senior Notes, due 2017	'	'
Debt Instrument [Line Items]	'	'
Long-term debt	400	400
Interest rate	5.90%	5.90%
Unamortized debt discount on senior notes (less than $1 million for 5.9% Senior Notes)	1	'
6.55% Senior Notes, due 2037	'	'
Debt Instrument [Line Items]	'	'
Long-term debt	399	399
Interest rate	6.55%	6.55%
Unamortized debt discount on senior notes (less than $1 million for 5.9% Senior Notes)	$1	'

Debt_Narrative_Details

Debt (Narrative) (Details) (USD $)	1 Months Ended	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2014	Dec. 31, 2013
Debt Instrument [Line Items]	'	'	'
Long-term debt fair value	'	$861,000,000	$801,000,000
4 Year Facility	'	'	'
Debt Instrument [Line Items]	'	'	'
Maximum borrowing capacity	1,000,000,000	1,000,000,000	'
Term of facility	'4 years	'	'
Line of credit amount outstanding	'	$0	$0
Commitment fee	'	0.20%	'
Minimum | 4 Year Facility	'	'	'
Debt Instrument [Line Items]	'	'	'
Commitment fee	'	0.20%	'
Maximum | 4 Year Facility	'	'	'
Debt Instrument [Line Items]	'	'	'
Commitment fee	'	0.45%	'
Indebtedness to cash flow	'	3.25	'

Employee_Benefits_Details

Employee Benefits (Details) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014
Compensation and Retirement Disclosure [Abstract]	'
Contribution towards retirement plans	$10
Expected contributions towards of retirement plans	$14

StockBased_Compensation_Detail

Stock-Based Compensation (Details) (USD $)	3 Months Ended		6 Months Ended		12 Months Ended
In Millions, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'
Total stock-based compensation expense	$30	$26	$48	$47	'
Stock options	'	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'
Total stock-based compensation expense	6	4	9	6	'
Granted (in shares)	'	'	'	'	0.8
Granted (in dollars per share)	'	'	'	'	$23.38
Unrecognized compensation expense	21	'	21	'	'
Unrecognized compensation expense, period for recognition	'	'	'2 years 6 months	'	'
Restricted stock and unit awards	'	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'
Total stock-based compensation expense	24	22	39	41	'
Granted (in shares)	'	'	'	'	0.7
Granted (in dollars per share)	'	'	'	'	$77.67
Unrecognized compensation expense	$101	'	$101	'	'
Unrecognized compensation expense, period for recognition	'	'	'1 year 9 months 18 days	'	'

Equity_Schedule_of_stock_repur

Equity (Schedule of stock repurchases) (Details) (USD $)	3 Months Ended		6 Months Ended		0 Months Ended	1 Months Ended	6 Months Ended
In Millions, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 25, 2014	Dec. 31, 2013	Jun. 30, 2014
					Harold W. McGraw III [Member]	2013 Repurchase Program	2013 Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'	'	'
Total number of shares purchased (in shares)	2.2	1.4	4.4	8.6	0.5	0.1	'
Repurchase discount	'	'	'	'	0.35%	'	'
Average price paid per share (in dollars per share)	$79.65	$0	$79.06	$0	$82.66	'	'
Total cash utilized	$177	$0	$352	$500	$41	$10	$362

Equity_Narrative_Details

Equity (Narrative) (Details) (USD $)	6 Months Ended			0 Months Ended		3 Months Ended	4 Months Ended
In Millions, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2014	Dec. 04, 2013	Apr. 02, 2013	Mar. 25, 2013	Jun. 30, 2013	Jul. 25, 2013
		2013 Repurchase Program	2013 Repurchase Program	Accelerated Share Repurchase Program	Accelerated Share Repurchase Program	Accelerated Share Repurchase Program	Accelerated Share Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'	'	'
Stock repurchase program number of shares authorized to be repurchased (in shares)	'	'	50,000,000	'	'	'	'
Maximum number of shares authorized for repurchase under stock repurchase plan as percentage of outstanding common stock	'	'	18.00%	'	'	'	'
Remaining shares available under repurchase program (in shares)	'	45,600,000	'	'	'	'	'
Repurchase of additional shares (in shares)	'	'	'	'	$500	'	'
Shares received on initial delivery (in shares)	'	'	'	'	'	7,200,000	'
Additional shares received (in shares)	'	'	'	1,400,000	'	'	700,000
Accelerated share repurchases, final price paid (in dollars per share)	'	'	'	'	'	'	$53.80
Accelerated share repurchases, cumulative shares repurchased (in shares)	'	'	'	'	'	'	9,300,000
Interest in joint venture minimum percentage	20.00%	'	'	'	'	'	'
Agreement terms, change of control, put option for minority interest ownership, effective period	'15 days	'	'	'	'	'	'

Equity_Schedule_of_redeemable_

Equity (Schedule of redeemable noncontrolling interest) (Details) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014
Increase (Decrease) in Temporary Equity [Roll Forward]	'
Balance as of December 31, 2013	$810
Net income attributable to noncontrolling interest	46
Distributions to noncontrolling interest	-45
Redemption value adjustment	-1
Balance as of June 30, 2014	$810

Equity_Accumulated_Other_Compr

Equity (Accumulated Other Comprehensive Loss) (Details) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Accumulated Other Comprehensive Income Loss Net Of Tax [Roll Forward]	'	'	'	'
Balance as of December 31, 2013	'	'	($196)	'
Other comprehensive income before reclassifications	'	'	-21	'
Reclassifications from accumulated other comprehensive loss to net earnings	'	'	3	'
Net other comprehensive income	'	'	-18	'
Balance as of June 30, 2014	-214	'	-214	'
Pension and other postretirement benefit plans, tax	22	9	21	6
Foreign Currency Translation Adjustment	'	'	'	'
Accumulated Other Comprehensive Income Loss Net Of Tax [Roll Forward]	'	'	'	'
Balance as of December 31, 2013	'	'	23	'
Other comprehensive income before reclassifications	'	'	12	'
Reclassifications from accumulated other comprehensive loss to net earnings	'	'	0	'
Net other comprehensive income	'	'	12	'
Balance as of June 30, 2014	35	'	35	'
Pension and Postretirement Benefit Plans	'	'	'	'
Accumulated Other Comprehensive Income Loss Net Of Tax [Roll Forward]	'	'	'	'
Balance as of December 31, 2013	'	'	-216	'
Other comprehensive income before reclassifications	'	'	-36	'
Reclassifications from accumulated other comprehensive loss to net earnings	'	'	3	'
Net other comprehensive income	'	'	-33	'
Balance as of June 30, 2014	-249	'	-249	'
Pension and other postretirement benefit plans, tax	'	'	2	'
Unrealized Gain (Loss) on Forward Exchange Contracts	'	'	'	'
Accumulated Other Comprehensive Income Loss Net Of Tax [Roll Forward]	'	'	'	'
Balance as of December 31, 2013	'	'	-3	'
Other comprehensive income before reclassifications	'	'	3	'
Reclassifications from accumulated other comprehensive loss to net earnings	'	'	0	'
Net other comprehensive income	'	'	3	'
Balance as of June 30, 2014	$0	'	$0	'

Earnings_Per_Share_Details

Earnings Per Share (Details) (USD $)	3 Months Ended		6 Months Ended
In Millions, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Amounts attributable to McGraw Hill Financial, Inc. common shareholders:	'	'	'	'
Income from continuing operations	$292	$250	$540	$403
Income from discontinued operations	0	4	0	586
Net income	$292	$254	$540	$989
Basic weighted-average number of common shares outstanding (in shares)	271.5	274.3	271.7	277.4
Effect of stock options and other dilutive securities (in shares)	4.6	4	5	3.9
Diluted weighted-average number of common shares outstanding (in shares)	276.1	278.3	276.7	281.3
Income from continuing operations:	'	'	'	'
Basic (in dollars per share)	$1.08	$0.91	$1.99	$1.45
Diluted (in dollars per share)	$1.06	$0.90	$1.95	$1.43
Income from discontinued operations:	'	'	'	'
Basic (in dollars per share)	$0	$0.01	$0	$2.11
Diluted (in dollars per share)	$0	$0.01	$0	$2.08
Net income:	'	'	'	'
Basic (in dollars per share)	$1.08	$0.93	$1.99	$3.57
Diluted (in dollars per share)	$1.06	$0.91	$1.95	$3.52
Restricted performance shares	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Outstanding shares not included in the computation of diluted earnings per share (in shares)	'	'	1.4	2.3
Stock options	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Outstanding shares not included in the computation of diluted earnings per share (in shares)	'	2.7	'	2.8

Restructuring_Details

Restructuring (Details) (2013 restructuring plan, USD $)	6 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
		position
Restructuring Cost and Reserve [Line Items]	'	'
Workforce reduction (in positions)	'	520
Restructuring charges paid	$16	'
S&P Ratings	'	'
Restructuring Cost and Reserve [Line Items]	'	'
Initial Charge Recorded	13	'
Ending Reserve Balance	11	'
S&P Capital IQ	'	'
Restructuring Cost and Reserve [Line Items]	'	'
Initial Charge Recorded	10	'
Ending Reserve Balance	2	'
C&C	'	'
Restructuring Cost and Reserve [Line Items]	'	'
Initial Charge Recorded	10	'
Ending Reserve Balance	4	'
Corporate	'	'
Restructuring Cost and Reserve [Line Items]	'	'
Initial Charge Recorded	16	'
Ending Reserve Balance	6	'
Total	'	'
Restructuring Cost and Reserve [Line Items]	'	'
Initial Charge Recorded	49	'
Ending Reserve Balance	$23	39

Segment_and_Related_Informatio2

Segment and Related Information (Details) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
	Segment		Segment
Segment Reporting Information [Line Items]	'	'	'	'
Number of reportable segments (in segments)	4	'	4	'
Revenue	$1,346	$1,250	$2,581	$2,431
Operating Profit	486	436	916	714
S&P Ratings	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenue	664	599	1,233	1,161
Operating Profit	308	268	548	517
S&P Capital IQ	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenue	307	287	608	575
Operating Profit	54	49	107	99
S&P DJ Indices	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenue	133	123	269	238
Operating Profit	82	77	174	141
C&C	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenue	263	259	514	496
Operating Profit	83	83	159	143
Intersegment elimination	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenue	-21	-18	-43	-39
Operating Profit	0	0	0	0
Total	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenue	1,346	1,250	2,581	2,431
Operating Profit	527	477	988	900
Unallocated expense	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenue	0	0	0	0
Operating Profit	-41	-41	-72	-186
Growth and value plan | Unallocated expense	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Initial Charge Recorded	'	10	'	54
Pre-tax legal settlements | Unallocated expense	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Initial Charge Recorded	'	$77	'	'

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (USD $)	3 Months Ended	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2014	Dec. 31, 2013	Dec. 31, 2003
Commitments and Contingencies Disclosure [Abstract]	'	'	'	'
Equity method investment ownership percentage	'	'	'	45.00%
Deferred gain	$34	$34	$60	'
Amortized deferred gain	6	12	'	'
Interest expense (less than $1 million for three months ended June 30, 2014)	$1	$1	'	'

Related_Party_Transactions_Det

Related Party Transactions (Details) (USD $)	3 Months Ended		6 Months Ended		0 Months Ended				3 Months Ended	6 Months Ended
Share data in Millions, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Jul. 02, 2014	Jun. 25, 2014	Jul. 02, 2014	Jun. 25, 2014	Jun. 30, 2014	Jun. 30, 2014
					Subsequent Event [Member]	Mr. Terry McGraw [Member]	Mr. Terry McGraw [Member]	Harold W. McGraw III [Member]	CME Group	CME Group
					Other Loss [Member]		Subsequent Event [Member]		S&P DJ Indices	S&P DJ Indices
Related Party Transaction [Line Items]	'	'	'	'	'	'	'	'	'	'
Transaction amount	'	'	'	'	'	'	$20,000,000	'	'	'
Non-cash impairment charge	'	'	'	'	6,000,000	'	'	'	'	'
Total number of shares purchased (in shares)	2.2	1.4	4.4	8.6	'	0.5	'	0.5	'	'
Repurchase discount	'	'	'	'	'	0.35%	'	0.35%	'	'
Total cash utilized	177,000,000	0	352,000,000	500,000,000	'	41,000,000	'	'	'	'
Average price paid per share (in dollars per share)	$79.65	$0	$79.06	$0	'	$82.66	'	'	'	'
Revenues earned under license agreement	'	'	'	'	'	'	'	'	$13,000,000	$25,000,000
Noncontrolling interest ownership by noncontrolling owners	'	'	'	'	'	'	'	'	27.00%	27.00%