S&P Global (SPGI) 10-Q 28 Jul 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares shares in Millions	6 Months Ended
	Jun. 30, 2016	Jul. 15, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	S&P Global Inc.
Entity Central Index Key	64,040
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		264

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Statement [Abstract]
Revenue	$ 1,482	$ 1,342	$ 2,823	$ 2,615
Expenses:
Operating-related expenses	469	412	926	823
Selling and general expenses	317	326	647	654
Depreciation	22	22	40	43
Amortization of intangibles	23	11	47	23
Total expenses	831	771	1,660	1,543
Other income	0	(11)	0	(11)
Operating profit	651	582	1,163	1,083
Interest expense, net	42	16	83	32
Income before taxes on income	609	566	1,080	1,051
Provision for taxes on income	197	185	345	340
Net income	412	381	735	711
Less: net income attributable to noncontrolling interests	(29)	(28)	(58)	(55)
Net income	$ 383	$ 353	$ 677	$ 656
Net income:
Basic (in dollars per share)	$ 1.45	$ 1.29	$ 2.56	$ 2.40
Diluted (in dollars per share)	$ 1.44	$ 1.28	$ 2.54	$ 2.38
Weighted-average number of common shares outstanding:
Basic (in shares)	264.5	273.1	264.7	273.3
Diluted (in shares)	266.7	275.7	267	276
Actual shares outstanding at period end (in shares)			263.9	272.5
Dividend declared per common share (in dollars per share)	$ 0.36	$ 0.33	$ 0.72	$ 0.66

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 412	$ 381	$ 735	$ 711
Other comprehensive income:
Foreign currency translation adjustment	(54)	50	(40)	(32)
Income tax effect	(1)	(2)	(1)	(2)
Foreign currency translation adjustment, net of income tax effect	(55)	48	(41)	(34)
Pension and other postretirement benefit plans	12	51	16	55
Income tax effect	(3)	(16)	(4)	(18)
Pension and other post-retirement benefit plans, net of income tax effect	9	35	12	37
Unrealized gain on forward exchange contracts	(1)	(1)	3	0
Income tax effect	0	0	(1)	0
Unrealized gain (loss) on forward exchange contracts, net of income tax effect	(1)	(1)	2	0
Comprehensive income	365	463	708	714
Less: comprehensive income attributable to nonredeemable noncontrolling interests	(2)	(4)	(5)	(5)
Less: comprehensive income attributable to redeemable noncontrolling interests	(27)	(24)	(53)	(50)
Comprehensive income attributable to S&P Global Inc.	$ 336	$ 435	$ 650	$ 659

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 1,567	$ 1,481
Accounts receivable, net of allowance for doubtful accounts: 2016 - $33; 2015 - $37	1,007	991
Deferred income taxes	110	109
Prepaid and other current assets	201	212
Assets of businesses held for sale	574	503
Total current assets	3,459	3,296
Property and equipment, net of accumulated depreciation: 2016 - $584; 2015 - $585	242	270
Goodwill	2,882	2,882
Other intangible assets, net	1,483	1,522
Other non-current assets	225	213
Total assets	8,291	8,183
Current liabilities:
Accounts payable	178	206
Accrued compensation and contributions to retirement plans	265	383
Short-term debt	309	143
Unearned revenue	1,460	1,421
Other current liabilities	426	549
Liabilities of businesses held for sale	207	206
Total current liabilities	2,845	2,908
Long-term debt	3,470	3,468
Pension and other postretirement benefits	260	276
Other non-current liabilities	371	368
Total liabilities	6,946	7,020
Redeemable noncontrolling interest (Note 8)	920	920
Commitments and contingencies (Note 12)
Equity:
Common stock	412	412
Additional paid-in capital	444	475
Retained income	8,123	7,636
Accumulated other comprehensive loss	(627)	(600)
Less: common stock in treasury	(7,976)	(7,729)
Total equity — controlling interests	376	194
Total equity — noncontrolling interests	49	49
Total equity	425	243
Total liabilities and equity	$ 8,291	$ 8,183

Consolidated Balance Sheets (U5

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 33	$ 37
Property and equipment, accumulated depreciation	$ 584	$ 585

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Operating Activities:
Net income	$ 735	$ 711
Adjustments to reconcile net income to cash provided by (used for) operating activities from continuing operations:
Depreciation	40	43
Amortization of intangibles	47	23
Provision for losses on accounts receivable	8	4
Deferred income taxes	(4)	166
Stock-based compensation	34	37
Other	47	51
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable	(39)	(136)
Prepaid and other current assets	(21)	(24)
Accounts payable and accrued expenses	(212)	(257)
Unearned revenue	38	71
Accrued legal and regulatory settlements	(108)	(1,609)
Other current liabilities	(23)	(65)
Net change in prepaid/accrued income taxes	73	119
Net change in other assets and liabilities	(44)	(31)
Cash provided by (used for) operating activities from continuing operations	571	(897)
Investing Activities:
Capital expenditures	(36)	(42)
Acquisitions, net of cash acquired	(52)	(2)
Proceeds from dispositions	0	14
Changes in short-term investments	0	(7)
Cash used for investing activities from continuing operations	(88)	(37)
Financing Activities:
Additions to short-term debt, net	166	0
Proceeds from issuance of senior notes, net	0	690
Dividends paid to shareholders	(191)	(185)
Dividends and other payments paid to noncontrolling interests	(57)	(49)
Repurchase of treasury shares	(373)	(274)
Exercise of stock options	65	73
Excess tax benefits from share-based payments	19	38
Cash (used for) provided by financing activities from continuing operations	(371)	293
Effect of exchange rate changes on cash from continuing operations	(26)	(7)
Cash provided by (used for) continuing operations	86	(648)
Discontinued Operations:
Cash used for operating activities	0	(129)
Cash used for discontinued operations	0	(129)
Net change in cash and cash equivalents	86	(777)
Cash and cash equivalents at beginning of period	1,481	2,497
Cash and cash equivalents at end of period	$ 1,567	$ 1,720

Consolidated Statement of Equit

Consolidated Statement of Equity (Unaudited) - 6 months ended Jun. 30, 2016 - USD ($) $ in Millions		Total	Common Stock $1 par	Additional Paid-in Capital	Retained Income	Accumulated Other Comprehensive Loss	Less: Treasury Stock	Total SPGI Equity	Noncontrolling Interests
Balance as of December 31, 2015 at Dec. 31, 2015		$ 243	$ 412	$ 475	$ 7,636	$ (600)	$ 7,729	$ 194	$ 49
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	[1]	655			677	(27)		650	5
Dividends		(197)			(191)			(191)	(6)
Share repurchases		(346)					347	(347)	1
Employee stock plans, net of tax benefit		69		(31)			(100)	69
Change in redemption value of redeemable noncontrolling interest		1			1			1
Balance as of June 30, 2016 at Jun. 30, 2016		425	$ 412	$ 444	$ 8,123	$ (627)	$ 7,976	$ 376	$ 49
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to noncontrolling interest		$ 53
[1]	Excludes $53 million attributable to our redeemable noncontrolling interest.

Consolidated Statement of Equi8

Consolidated Statement of Equity (Unaudited) (Parenthetical)	Jun. 30, 2016$ / shares
Statement of Stockholders' Equity [Abstract]
Common stock par value (in dollars per share)	$ 1

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Basis of Presentation	Nature of Operations and Basis of Presentation S&P Global Inc. (together with its consolidated subsidiaries, "S&P Global," the “Company,” “we,” “us” or “our”) is a leading provider of transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets worldwide. On April 27, 2016, we changed our name to S&P Global Inc. from McGraw Hill Financial, Inc. Our operations consist of four reportable segments: S&P Global Ratings, S&P Global Market Intelligence, S&P Dow Jones Indices ("S&P DJ Indices") and S&P Global Platts. • S&P Global Ratings is an independent provider of credit ratings, research and analytics to investors, issuers and market participants. • S&P Global Market Intelligence 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. • S&P Global Platts 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 and quality benchmarks. The S&P Global Ratings segment includes S&P Global Ratings, which is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization ("NRSRO"), as well as CRISIL, a global analytical company incorporated in India, and certain other ratings-related businesses. In April of 2016, we entered into a definitive agreement to sell J.D. Power, included within our S&P Global Platts segment, for $1.1 billion to XIO Group, a global alternative investments firm headquartered in London. During the second quarter of 2016, we received regulatory approval to proceed with the sale and expect the transaction to close in the third quarter of 2016. In the fourth quarter of 2015, we began exploring strategic alternatives for J.D. Power and initiated an active program to sell the business. The assets and liabilities of J.D. Power have been classified as held for sale in our consolidated balance sheet as of June 30, 2016 and December 31, 2015. In February of 2016, we entered into a definitive agreement to sell Standard & Poor’s Securities Evaluations, Inc. ("SPSE") and Credit Market Analysis ("CMA"), two businesses within our S&P Global Market Intelligence segment, to Intercontinental Exchange, an operator of global exchanges, clearing houses and data services. The sale is subject to extended regulatory anti-trust review and is expected to close shortly after completion of this extended review. As a result, we have classified the assets and liabilities of SPSE and CMA as held for sale in our consolidated balance sheet as of June 30, 2016. 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, 2015 (our “Form 10-K”). Certain prior-year amounts have been reclassified to conform with current presentation. In the opinion of management, all normal recurring adjustments considered necessary for a fair statement of the results of the interim periods have been included. The operating results for the three and six months ended June 30, 2016 are not necessarily indicative of the results that may be expected for the full year. Our critical accounting estimates are disclosed in Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations , in our Form 10-K. On an ongoing basis, we evaluate our estimates and assumptions, including those related to revenue recognition, allowance for doubtful accounts, valuation of long-lived assets, goodwill and other intangible assets, pension plans, incentive compensation and stock-based compensation, income taxes, contingencies and redeemable noncontrolling interests. Since the date of our Form 10-K, there have been no material changes to our critical accounting policies and estimates.

Acquisitions and Divestitures

Acquisitions and Divestitures	6 Months Ended
	Jun. 30, 2016
Acquisitions and Divestitures [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures Acquisitions Acquisitions by segment included: S&P Global Ratings • In June of 2016, S&P Global Ratings acquired a 49% equity investment in Thailand's TRIS Rating Company Limited from its parent company, TRIS Corporation Limited. The transaction extends an existing association between S&P Global Ratings and TRIS Rating and deepens their commitment to capital markets in Thailand. We accounted for the acquisition of TRIS Rating Company using the equity method of accounting. The equity investment in TRIS Rating is not material to our consolidated financial statements. S&P Global Platts • In June of 2016, Platts acquired RigData, a provider of daily information on rig activity for the natural gas and oil markets across North America. The purchase enhances Platts' energy analytical capabilities by strengthening its position in natural gas and enhancing its oil offering. We accounted for the acquisition of RigData using the purchase method of accounting. The acquisition of RigData is not material to our consolidated financial statements. • In March of 2016, Platts acquired Commodity Flow, a specialist technology and business intelligence service for the global waterborne commodity and energy markets. The purchase helps extend Platts trade flow analytical capabilities and complements its existing shipping services. We accounted for the acquisition of Commodity Flow using the purchase method of accounting. The acquisition of Commodity Flow is not material to our consolidated financial statements. During the six months ended June 30, 2015, we did not complete any material acquisitions. Divestitures During the six months ended June 30, 2016, we did not complete any dispositions. During the six months ended June 30, 2015, we recorded a pre-tax gain of $11 million within other income in the consolidated statement of income related to the sale of our interest in a legacy McGraw Hill Construction investment. Businesses Held for Sale In April of 2016, we entered into a definitive agreement to sell J.D. Power, included within our S&P Global Platts segment, for $1.1 billion to XIO Group, a global alternative investments firm headquartered in London. During the second quarter of 2016, we received regulatory approval to proceed with the sale and expect the transaction to close in the third quarter of 2016. In the fourth quarter of 2015, we began exploring strategic alternatives for J.D. Power and initiated an active program to sell the business. The assets and liabilities of J.D. Power have been classified as held for sale in our consolidated balance sheet as of June 30, 2016 and December 31, 2015. In February of 2016, we entered into a definitive agreement to sell SPSE and CMA, two businesses within our S&P Global Market Intelligence segment, to Intercontinental Exchange, an operator of global exchanges, clearing houses and data services. The sale is subject to extended regulatory anti-trust review and is expected to close shortly after completion of this extended review. As a result, we have classified the assets and liabilities of SPSE and CMA as held for sale in our consolidated balance sheet as of June 30, 2016. The components of assets and liabilities of businesses held for sale in the consolidated balance sheets consist of the following: (in millions) June 30, December 31, 2016 2015 Accounts receivable, net $ 72 $ 58 Goodwill 133 75 Other intangible assets, net 309 335 Other assets 60 35 Assets of businesses held for sale $ 574 $ 503 Accounts payable and accrued expenses $ 35 $ 42 Unearned revenue 66 64 Other liabilities 106 100 Liabilities of businesses held for sale $ 207 $ 206 The operating profit of our businesses held for sale for the periods ended June 30, 2016 and 2015 is as follows: (in millions) Three Months Six Months 2016 2015 2016 2015 Operating profit $ 20 $ 22 $ 44 $ 38

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective income tax rate was 32.3% and 31.9% for the three and six months ended June 30, 2016 , respectively, and 32.6% and 32.4% for three and six months ended June 30, 2015 , respectively. The decrease in the effective income tax rate was due to the resolution of tax audits and lower non-U.S. taxes. 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, is recognized in the interim period in which those items occur. In addition, the effect of changes in enacted tax laws or rates or tax status is recognized in the interim period in which the change occurs. As of June 30, 2016 and December 31, 2015 , the total amount of federal, state and local, and foreign unrecognized tax benefits was $122 million and $120 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, as of June 30, 2016 and December 31, 2015 , we had $37 million and $31 million , respectively, of accrued interest and penalties associated with unrecognized tax benefits. Based on the current status of income tax audits, we believe that the total amount of unrecognized tax benefits may 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, 2016
Debt Disclosure [Abstract]
Debt	Debt (in millions) June 30, December 31, 5.9% Senior Notes, due 2017 1 $ 400 399 2.5% Senior Notes, due 2018 2 398 398 3.3% Senior Notes, due 2020 3 695 695 4.0% Senior Notes, due 2025 4 690 690 4.4% Senior Notes, due 2026 5 891 890 6.55% Senior Notes, due 2037 6 396 396 Commercial paper 309 143 Total debt 3,779 3,611 Less: short-term debt including current maturities 309 143 Long-term debt $ 3,470 $ 3,468 1 Interest payments are due semiannually on April 15 and October 15, and as of June 30, 2016 , the unamortized debt discount and issuance costs are less than $1 million . 2 Interest payments are due semiannually on February 15 and August 15, and as of June 30, 2016 , the unamortized debt discount and issuance costs total $2 million . 3 Interest payments are due semiannually on February 14 and August 14, and as of June 30, 2016 , the unamortized debt discount and issuance costs total $5 million . 4 Interest payments are due semiannually on June 15 and December 15, and as of June 30, 2016 , the unamortized debt discount and issuance costs total $10 million . 5 Interest payments are due semiannually on February 15 and August 15, and as of June 30, 2016 , the unamortized debt discount and issuance costs total $9 million . 6 Interest payments are due semiannually on May 15 and November 15, and as of June 30, 2016 , the unamortized debt discount and issuance costs total $4 million . The fair value of our long-term debt borrowings was $3.8 billion and $3.6 billion as of June 30, 2016 and December 31, 2015 , respectively, and was estimated based on quoted market prices. We have the ability to borrow a total of $1.2 billion through our commercial paper program, which is supported by our revolving $1.2 billion five-year credit agreement (our “credit facility”) that we entered into on June 30, 2015. This credit facility will terminate on June 30, 2020. Commercial paper borrowings outstanding as of June 30, 2016 and December 31, 2015 totaled $309 million and $143 million , respectively with an average interest rate and term of 0.89% and 14 days and 0.95% and 17 days , respectively. As of June 30, 2016 , we can borrow approximately $891 million in additional funds under our credit facility. Depending on our indebtedness to cash flow ratio, we pay a commitment fee of 10 to 20 basis points for our credit facility, whether or not amounts have been borrowed.We currently pay a commitment fee of 15 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 4 to 1 , and this covenant level has never been exceeded.

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments Cash Flow Hedges Our exposure to market risk includes changes in foreign exchange rates. We have operations in foreign countries where the functional currency is primarily the local currency. For international operations that are determined to be extensions of the parent company, the U.S. dollar is the functional currency. We typically have naturally hedged positions in most countries from a local currency perspective with offsetting assets and liabilities. As of June 30, 2016 and December 31, 2015, we have entered into foreign exchange forward contracts to hedge the effect of adverse fluctuations in foreign currency exchange rates. We do not enter into any derivative financial instruments for speculative purposes. During the three months ended March 31, 2016, we entered into a series of foreign exchange forward contracts to hedge a portion of our Indian Rupee exposure through the fourth quarter of 2016. These contracts are intended to offset the impact of movement of exchange rates on future operating costs and are scheduled to mature at the end of each quarter during 2016. The changes in the fair value of these contracts are initially reported in accumulated other comprehensive loss in our consolidated balance sheet and are subsequently reclassified into selling and general expenses in the same period that the hedge contract matures. As of June 30, 2016, we estimate that $1 million of the net gains related to derivatives designated as cash flow hedges recorded in other comprehensive income (loss) is expected to be reclassified into earnings within the next twelve months. There was no hedge ineffectiveness for the three and six months ended June 30, 2016. As of June 30, 2016 and June 30, 2015, the aggregate notional value of our outstanding foreign currency forward contracts was $96 million and $59 million , respectively. The following table provides information on the location and fair value amounts of our cash flow hedges as of June 30, 2016 and December 31, 2015: (in millions) Balance Sheet Location June 30, 2016 December 31, 2015 Prepaid and other current assets 1 Foreign exchange forward contracts $ 4 $ 1 1 We use the income approach to measure the fair value of our forward currency forward contracts. The income approach uses pricing models that rely on observable inputs such as forward rates, and therefore are classified as Level 2. The following table provides information on the location and amounts of pre-tax gains (losses) on our cash flow hedges for the periods ended June 30 : Three Months (in millions) Gain (Loss) Recognized in Accumulated Other Comprehensive Loss (effective portion) Location of Gain Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion) Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion) Cash flow hedges - designated as hedging instruments 2016 2015 2016 2015 Foreign exchange forward contracts $ (1 ) $ (1 ) Selling and general expenses $ 1 $ — Six Months (in millions) Gain (Loss) Recognized in Accumulated Other Comprehensive Loss (effective portion) Location of Gain Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion) Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion) Cash flow hedges - designated as hedging instruments 2016 2015 2016 2015 Foreign exchange forward contracts $ 2 $ — Selling and general expenses $ 2 $ — The activity related to the change in unrealized gains (losses) in accumulated other comprehensive loss was as follows for the periods ended June 30 : (in millions) Three Months Six Months 2016 2015 2016 2015 Net unrealized gains (losses) on cash flow hedges, net of taxes, beginning of period $ 2 $ — $ (1 ) $ (1 ) Change in fair value, net of tax — (1 ) 4 — Reclassification into earnings, net of tax (1 ) — (2 ) — Net unrealized gains (losses) on cash flow hedges, net of taxes, end of period $ 1 $ (1 ) $ 1 $ (1 )

Employee Benefits

Employee Benefits	6 Months Ended
	Jun. 30, 2016
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 benefit (credit) cost pursuant to our accounting policy for amortizing such amounts. The components of net periodic benefit (credit) cost for our retirement plans and postretirement plans for the periods ended June 30 are as follows: Retirement Plans (in millions) Three Months Six Months 2016 2015 2016 2015 Service cost $ 1 $ 2 $ 1 $ 3 Interest cost 19 24 39 48 Expected return on plan assets (31 ) (32 ) (61 ) (63 ) Amortization of actuarial loss 4 5 8 10 Net periodic benefit (credit) cost $ (7 ) $ (1 ) $ (13 ) $ (2 ) Postretirement Plans (in millions) Three Months Six Months 2016 2015 2016 2015 Service cost $ — $ — $ — $ — Interest cost 1 1 1 2 Amortization of prior service credit / actuarial gain (1 ) (1 ) (1 ) (1 ) Net periodic benefit (credit) cost $ — $ — $ — $ 1 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, 2016. In addition, at the end of 2015, we changed our approach used to measure service and interest costs on all of our retirement plans. For 2015, we measured service and interest costs utilizing a single weighted-average discount rate derived from the yield curve used to measure the benefit obligation. For 2016, we elected to measure service and interest costs by applying the specific spot rates along that yield curve to the plans' liability cash flows. We also updated the assumed mortality rates to reflect life expectancy improvements. The effect of the assumption changes for the three and six months ended June 30, 2016 resulted in a decrease in net periodic benefit cost of approximately $5 million and $10 million respectively. In the first six months of 2016 , we contributed $4 million to our retirement plans and expect to make additional required contributions of approximately $4 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 remaining second half of 2016 .

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2016
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 2016 2015 2016 2015 Stock option expense 1 $ 2 $ 3 $ 4 $ 9 Restricted stock and unit awards expense 18 16 30 28 Total stock-based compensation expense $ 20 $ 19 $ 34 $ 37 1 There were a minimal amount of stock options granted in 2015. During 2015, the Company stopped granting stock options. During the six months ended June 30, 2016 , the Company granted 0.5 million shares of restricted stock and unit awards, which had a weighted average grant date fair value of $99.43 per share. Total unrecognized compensation expense related to unvested restricted stock and unit awards as of June 30, 2016 was $81 million , which is expected to be recognized over a weighted average period of 1.9 years .

Equity

Equity	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Equity	Equity Stock Repurchases On December 4, 2013, the Board of Directors approved a share repurchase program authorizing the purchase of 50 million shares, which was approximately 18% of the total shares of our outstanding common stock at that time. In any period, share repurchase transactions could result in timing differences between the recognition of those repurchases and their settlement for cash. This could result in a difference between the cash used for financing activities related to common stock repurchased and the comparable change in equity. Share repurchases for the periods ended June 30 were as follows: (in millions, except average price) Three Months Six Months 2016 2015 2016 2015 Total number of shares purchased 1.4 1.6 3.5 2.6 Average price paid per share 1 $ 107.74 $ 104.82 $ 98.05 $ 104.62 Total cash utilized 1 $ 147 $ 164 $ 347 $ 274 1 In December of 2015, 0.3 million shares were repurchased for approximately $26 million , which settled in January of 2016. Cash used for financing activities only reflects those shares which settled during the six months ended June 30, 2016 resulting in $373 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, 2016 , approximately 31.9 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. Redeemable Noncontrolling Interests The agreement with the minority partners of our S&P Dow Jones Indices LLC contains redemption features whereby interests held by minority partners are redeemable either (i) at the option of the holder or (ii) upon the occurrence of an event that is not solely within our control. Specifically, under the terms of the operating agreement of S&P Dow Jones Indices LLC, after December 31, 2017, CME Group and CME Group Index Services LLC ("CGIS") 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, 2016 were as follows: (in millions) Balance as of December 31, 2015 $ 920 Net income attributable to noncontrolling interest 53 Distributions payable to noncontrolling interest (52 ) Redemption value adjustment (1 ) Balance as of June 30, 2016 $ 920 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, 2016 : (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, 2015 $ (193 ) $ (406 ) $ (1 ) $ (600 ) Other comprehensive income before reclassifications (41 ) 7 4 (30 ) Reclassifications from accumulated other comprehensive loss to net earnings — 5 1 (2 ) 2 3 Net other comprehensive income (41 ) 12 2 (27 ) Balance as of June 30, 2016 $ (234 ) $ (394 ) $ 1 $ (627 ) 1 See Note 6 — Employee Benefits for additional details of items reclassed from accumulated other comprehensive loss to net earnings. 2 See Note 5 — Derivative Instruments for additional details of items reclassed from accumulated other comprehensive loss to net earnings. 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, 2016 .

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2016
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 Six Months 2016 2015 2016 2015 Amounts attributable to S&P Global Inc. common shareholders: Net income $ 383 $ 353 $ 677 $ 656 Basic weighted-average number of common shares outstanding 264.5 273.1 264.7 273.3 Effect of stock options and other dilutive securities 2.2 2.6 2.3 2.7 Diluted weighted-average number of common shares outstanding 266.7 275.7 267.0 276.0 Earnings per share attributable to S&P Global Inc. common shareholders: Net income: Basic $ 1.45 $ 1.29 $ 2.56 $ 2.40 Diluted $ 1.44 $ 1.28 $ 2.54 $ 2.38 We have certain stock options and restricted performance shares that are potentially excluded from the computation of diluted EPS. The effect of the potential exercise of stock options is excluded when the average market price of our common stock is lower than the exercise price of the related option during the period or when a net loss exists because the effect would have been antidilutive. Additionally, restricted performance shares are excluded because the necessary vesting conditions had not been met or when a net loss exists. For the three and six months ended June 30, 2016 and 2015 , there were no stock options excluded. Restricted performance shares outstanding of 1.2 million and 1.7 million as of June 30, 2016 and 2015 , respectively, were excluded.

Restructuring

Restructuring	6 Months Ended
	Jun. 30, 2016
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring During 2016 and 2015, we continued to evaluate our cost structure and further identified cost savings associated with streamlining our management structure and our decision to exit non-strategic businesses. Our 2016 and 2015 restructuring plans consisted of a workforce reduction of approximately 70 and 550 positions, respectively, and are 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, 2016 by segment is as follows: 2016 Restructuring Plans 2015 Restructuring Plans (in millions) Initial Charge Recorded Ending Reserve Balance Initial Charge Recorded Ending Reserve Balance S&P Global Ratings $ 8 $ 7 $ 18 $ 9 S&P Global Market Intelligence — — 31 13 S&P Global Platts 3 3 3 1 Corporate — — 11 7 Total $ 11 $ 10 $ 63 $ 30 We recorded a pre-tax restructuring charge of $11 million for the 2016 restructuring plan during the six months ended June 30, 2016 and have reduced the reserve for the 2016 restructuring plan by $1 million . The ending reserve balance for the 2015 restructuring plan was $50 million as of December 31, 2015. For the six months ended June 30, 2016 , we have reduced the reserve for the 2015 restructuring plan by $20 million .

Segment and Related Information

Segment and Related Information	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Segment and Related Information	Segment and Related Information We have four reportable segments: S&P Global Ratings, S&P Global Market Intelligence, S&P DJ Indices and S&P Global Platts. 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. A summary of operating results by segment for the periods ended June 30 is as follows: Three Months 2016 2015 (in millions) Revenue Operating Profit Revenue Operating Profit S&P Global Ratings 1 $ 682 $ 396 $ 658 $ 361 S&P Global Market Intelligence 2 416 93 324 63 S&P DJ Indices 3 153 100 148 96 S&P Global Platts 4 255 93 234 87 Intersegment elimination 5 (24 ) — (22 ) — Total operating segments 1,482 682 1,342 607 Unallocated expense 6 — (31 ) — (25 ) Total $ 1,482 $ 651 $ 1,342 $ 582 Six Months 2016 2015 (in millions) Revenue Operating Profit Revenue Operating Profit S&P Global Ratings 1 $ 1,234 $ 658 $ 1,264 $ 652 S&P Global Market Intelligence 2 824 173 644 125 S&P DJ Indices 3 304 200 291 191 S&P Global Platts 4 509 196 459 173 Intersegment elimination 5 (48 ) — (43 ) — Total operating segments 2,823 1,227 2,615 1,141 Unallocated expense 6 — (64 ) — (58 ) Total $ 2,823 $ 1,163 $ 2,615 $ 1,083 1 Operating profit for the three and six months ended June 30, 2016 includes a benefit related to legal settlement insurance recoveries of $37 million and $52 million , respectively, partially offset by legal settlement charges of $3 million and $6 million , respectively. Operating profit for the three and six months ended June 30, 2015 includes a benefit related to legal settlement insurance recoveries of $45 million and $80 million , respectively, partially offset by legal settlement charges of $4 million and $34 million , respectively. Additionally, the three and six months ended June 30, 2016 and 2015 includes restructuring charges of $6 million and $8 million , respectively. Operating profit also includes amortization of intangibles from acquisitions of $1 million for the three months ended June 30, 2016 and 2015 and $3 million and $2 million for the six months ended June 30, 2016 and 2015, respectively. 2 Operating profit includes disposition-related costs of $8 million for the three and six months ended June 30, 2016 and a technology related impairment charge of $24 million for the six months ended June 30, 2016. Additionally, restructuring charges of $12 million are included for the three and six months ended June 30, 2015. Operating profit also includes amortization of intangibles from acquisitions of $18 million and $36 million for the three and six months ended June 30, 2016 , respectively, and $6 million and $12 million for the three and six months ended June 30, 2015 , respectively. 3 Operating profit includes amortization of intangibles from acquisitions of $1 million for the three months ended June 30, 2016 and 2015 and $3 million for the six months ended June 30, 2016 and 2015. 4 Operating profit for the three and six months ended June 30, 2016 includes disposition-related costs of $2 million and $4 million , respectively. Additionally, restructuring charges of $1 million are included for the three and six months ended June 30, 2015. Operating profit also includes amortization of intangibles from acquisitions of $3 million for the three months ended June 30, 2016 and 2015 and $5 million and $6 million for the six months ended June 30, 2016 and 2015, respectively. 5 Revenue for S&P Global Ratings and expenses for S&P Global Market Intelligence include an intersegment royalty charged to S&P Global Market Intelligence for the rights to use and distribute content and data developed by S&P Global Ratings. 6 The three and six months ended June 30, 2016 includes $3 million from a disposition-related reserve release. The three and six months ended June 30, 2015 include a gain of $11 million related to the sale of our interest in a legacy McGraw Hill Construction investment. See Note 2 — Acquisitions and Divestitures for additional information. Additionally, restructuring charges of $1 million are included for the three and six months ended June 30, 2015. The following provides revenue by geographic region for the periods ended June 30 : (in millions) Three Months Six Months 2016 2015 2016 2015 U.S. $ 910 $ 810 $ 1,750 $ 1,575 European region 339 310 636 617 Asia 156 151 293 279 Rest of the world 77 71 144 144 Total $ 1,482 $ 1,342 $ 2,823 $ 2,615 See Note 2 — Acquisitions and Divestitures and Note 10 — Restructuring for additional actions that impacted the segment operating results.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Related Party Agreements 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, 2016 , S&P Dow Jones Indices LLC earned $18 million and $40 million , respectively, of revenue under the terms of the License Agreement. The entire amount of this revenue is included in our consolidated statement of income and the portion related to the 27% noncontrolling interest is removed in net income attributable to noncontrolling interests. Legal & Regulatory Matters In the normal course of business both in the United States and abroad, the Company, its subsidiary Standard & Poor’s Financial Services LLC (“S&P LLC”) and some of its other subsidiaries are defendants in a number of legal proceedings and are often the subject of government and regulatory proceedings, investigations and inquiries. Many of these proceedings, investigations and inquiries relate to the ratings activity of S&P Global Ratings brought by issuers and alleged purchasers of rated securities. In addition, various government and self-regulatory agencies frequently make inquiries and conduct investigations into our compliance with applicable laws and regulations, including those related to ratings activities and antitrust matters. Any of these proceedings, investigations or inquiries could ultimately result in adverse judgments, damages, fines, penalties or activity restrictions, which could adversely impact our consolidated financial condition, cash flows, business or competitive position. The Company believes that it has meritorious defenses to the pending claims and potential claims in the matters described below and is diligently pursuing these defenses, and in some cases working to reach an acceptable negotiated resolution. However, in view of the uncertainty inherent in litigation and government and regulatory enforcement matters, we cannot predict the eventual outcome of these matters or the timing of their resolution, or in most cases reasonably estimate what the eventual judgments, damages, fines, penalties or impact of activity restrictions may be. As a result, we cannot provide assurance that the outcome of the matters described below will not have a material adverse effect on our consolidated financial condition, cash flows, business or competitive position. As litigation or the process to resolve pending matters progresses, as the case may be, we will continue to review the latest information available and assess our ability to predict the outcome of such matters and the effects, if any, on our consolidated financial condition, cash flows, business and competitive position, which may require that we record liabilities in the consolidated financial statements in future periods. S&P Global Ratings Financial Crisis Litigation The Company and its subsidiaries continue to defend civil cases brought by private and public plaintiffs arising out of ratings activities prior to and during the global financial crisis of 2008-2009. Discovery in these cases is ongoing. We can provide no assurance that we will not be obligated to pay significant amounts in order to resolve these matters on terms deemed acceptable. At this time, however, we are unable to reasonably estimate the range of such additional amounts, if any. U.S. Securities and Exchange Commission As a nationally recognized statistical rating organization registered with the SEC under Section 15E of the Securities Exchange Act of 1934, S&P Global Ratings is in ongoing communication with the staff of the SEC regarding compliance with its extensive obligations under the federal securities laws. Although S&P Global Ratings seeks to promptly address any compliance issues that it detects or that the staff of the SEC raises, there can be no assurance that the SEC will not seek remedies against S&P Global Ratings for one or more compliance deficiencies. Trani Prosecutorial Proceeding The prosecutor in the Italian city of Trani has obtained criminal indictments against several current and former S&P Global Ratings managers and ratings analysts for alleged market manipulation, and against Standard & Poor’s Credit Market Services Europe under Italy’s vicarious liability statute, for having allegedly failed to properly supervise the ratings analysts and prevent them from committing market manipulation. The prosecutor’s theories are based on various actions by S&P Global Ratings taken with respect to Italian sovereign debt between May of 2011 and January of 2012. Trial commenced in February of 2015 and is ongoing. Apart from criminal penalties that might be imposed following a conviction, such conviction could also lead to civil damages claims and other sanctions against Standard & Poor's Credit Market Services Europe or the Company. Such claims and sanctions cannot be quantified at this stage. Shareholder Derivative Actions In August of 2015, two purported shareholders commenced a putative derivative action on behalf of the Company in New York State Supreme Court titled Retirement Plan for General Employees of the City of North Miami Beach and Robin Stein v. Harold McGraw III, et al . The complaint asserts claims for, inter alia, breach of fiduciary duty, waste of corporate assets, and mismanagement against the board of directors, certain former directors of the Company, and three former S&P Global Ratings employees. Plaintiffs seek recovery from the defendants based on allegations that S&P Global Ratings’ credit ratings practices for certain residential mortgage-backed securities and collateralized debt obligations misrepresented the credit risks of those securities, allegedly resulting in losses to the Company. The Company and the individual defendants filed motions to dismiss the complaint in October of 2015. Plaintiffs filed an opposition in December of 2015, and the Company and the individual defendants filed their reply on January 8, 2016. On January 28, 2016, a different purported shareholder commenced a separate putative derivative action on behalf of the Company in New York State Supreme Court titled L.A. Grika v. Harold McGraw III, et al . The allegations in the complaint are substantially similar to those in the North Miami Beach matter described above. The complaint asserts claims for, inter alia, breach of fiduciary duty, aiding and abetting breaches of fiduciary duty, unjust enrichment, contribution and indemnification against Harold McGraw III, Douglas L. Peterson, and nine former S&P Global Ratings employees. The case was transferred to the judge presiding over the North Miami Beach action. The Company and the individual defendants filed motions to dismiss the Grika complaint in May of 2016. Plaintiffs filed an opposition in June of 2016, and the Company and the individual defendants filed their reply on July 22, 2016. The court has not yet scheduled a date for oral argument on the motions to dismiss in either the North Miami or the Grika actions. The City of Swan Australian government municipal councils filed suit against the Company and S&P International LLC in a representative action in April of 2013 in connection with alleged investment losses in eight synthetic collateralized debt obligations (“CDOs”) rated by S&P Global Ratings. These same CDOs were at issue in an earlier lawsuit brought by the plaintiffs against its investment advisor, Lehman Brothers Australia (“LBA”), in which the plaintiffs secured a judgment against LBA, which is now in liquidation. The plaintiffs claim total losses of AUD $327 million from these investments and are seeking recovery from both LBA and the Company. On February 19, 2016, the Company reached a settlement with the plaintiffs to resolve the claims in this action. Under the settlement, the Company agreed to and made a payment of AUD $144 million . The federal court approved the settlement on April 12, 2016.

Recently Issued or Adopted Acco

Recently Issued or Adopted Accounting Standards	6 Months Ended
	Jun. 30, 2016
Accounting Changes and Error Corrections [Abstract]
Recently Issued or Adopted Accounting Standards	Recently Issued or Adopted Accounting Standards In March of 2016, the Financial Accounting Standards Board ("FASB") issued guidance to simplify several aspects of accounting for share-based payment transactions, including the accounting for income taxes, forfeitures, statutory tax withholding requirements, as well as classification in the statement of cash flows. The guidance is effective for reporting periods beginning after December 15, 2016; however, early adoption is permitted. We are currently evaluating the impact of the adoption of this guidance will have on our consolidated financial statements. In February of 2016, the FASB issued guidance that amends accounting for leases. Under the new guidance, a lessee will recognize assets and liabilities but will recognize expenses similar to current lease accounting. The guidance is effecting for reporting periods beginning after December 15, 2018; however early adoption is permitted. The new guidance must be adopted using a modified retrospective approach to each prior reporting period presented with various optional practical expedients. We are currently evaluating the impact of the adoption of this guidance will have on our consolidated financial statements. In January of 2016, the FASB issued guidance to enhance the reporting model for financial instruments, which includes amendments to address certain aspects of recognition, measurement, presentation and disclosure. The guidance is effective for reporting periods beginning after December 15, 2017. We do not expect this guidance to have a significant impact on our consolidated financial statements. In November of 2015, the FASB issued guidance to simplify the presentation of deferred income taxes. The guidance requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. This guidance is effective for reporting periods beginning after December 15, 2016; however, early adoption is permitted. We do not expect the adoption of this guidance to have a significant impact on our consolidated financial statements. In September of 2015, the FASB issued guidance intended to simplify the accounting for measurement-period adjustments made to provisional amounts recognized in a business combination. The guidance eliminates the requirement to retrospectively account for those adjustments. The guidance was effective on January 1, 2016, and the adoption of this guidance did not have a significant impact on our consolidated financial statements. In February of 2015, the FASB issued guidance that requires management to evaluate whether they should consolidate certain legal entities. All legal entities are subject to reevaluation under the revised consolidation model. The guidance was effective on January 1, 2016, and the adoption of this guidance did not have a significant impact on our consolidated financial statements. In January of 2015, the FASB issued guidance that eliminates the concept of reporting extraordinary items, but retains current presentation and disclosure requirements for an event or transaction that is of an unusual nature or of a type that indicates infrequency of occurrence. Transactions that meet both criteria would now also follow such presentation and disclosure requirements. The guidance was effective on January 1, 2016, and the adoption of this guidance did not have a significant impact on our consolidated financial statements. In August of 2014, the FASB issued guidance that requires management to evaluate, at each annual and interim reporting period, whether there are conditions or events that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date the financial statements are issued and provide related disclosures. This guidance is effective for reporting periods beginning after December 15, 2016; however, early adoption is permitted. We do not expect the adoption of this guidance to have a significant impact on our consolidated financial statements. In May of 2014, the FASB and the International Accounting Standards Board (“IASB”) issued jointly a converged standard on the recognition of revenue from contracts with customers, which is intended to improve the financial reporting of revenue and comparability of the top line in financial statements globally. The core principle of the new standard is for the recognition of revenue to depict the transfer of goods or services to customers in amounts that reflect the payment to which the company expects to be entitled in exchange for those goods or services. The new standard will also result in enhanced revenue disclosures, provide guidance for transactions that were not previously addressed comprehensively and improve guidance for multiple-element arrangements. In August of 2015, the FASB issued guidance deferring the effective date of the new revenue standard by one year. The new guidance will be effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Early adoption is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. Subsequently, the FASB issued implementation guidance related to the new revenue standard, including the following: In March of 2016, the FASB issued guidance to clarify the implementation guidance on principal versus agent considerations; in April of 2016, the FASB clarified guidance on performance obligations and the licensing implementation guidance; in May of 2016, the FASB issued a practical expedient in response to identified implementation issues. While we will continue with our evaluation process, initially, we believe this guidance may have an impact on the accounting for certain proprietary consulting arrangements in our S&P Global Platts segment as well as the accounting for certain integrated desktop service revenue arrangements offered in our S&P Global Market Intelligence segment.

Condensed Consolidating Financi

Condensed Consolidating Financial Statements	6 Months Ended
	Jun. 30, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Financial Statements	Condensed Consolidating Financial Statements On May 26, 2015, we issued $700 million of 4.0% senior notes due in 2025. On August 18, 2015, we issued $2.0 billion of senior notes, consisting of $400 million of 2.5% senior notes due in 2018, $700 million of 3.3% senior notes due in 2020 and $900 million of 4.4% senior notes due in 2026. The senior notes described above are fully and unconditionally guaranteed by Standard & Poor's Financial Services LLC, a 100% owned subsidiary of the Company. The following condensed consolidating financial statements present the results of operations, financial position and cash flows of S&P Global Inc., Standard & Poor's Financial Services LLC, and the Non-Guarantor Subsidiaries of S&P Global Inc. and Standard & Poor's Financial Services LLC, and the eliminations necessary to arrive at the information for the Company on a consolidated basis. Statement of Income Three Months Ended June 30, 2016 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 171 $ 413 $ 930 $ (32 ) $ 1,482 Expenses: Operating-related expenses 26 93 382 (32 ) 469 Selling and general expenses 33 62 222 — 317 Depreciation 10 2 10 — 22 Amortization of intangibles — — 23 — 23 Total expenses 69 157 637 (32 ) 831 Operating profit 102 256 293 — 651 Interest expense (income), net 44 — (2 ) — 42 Non-operating intercompany transactions 95 (37 ) (199 ) 141 — Income before taxes on income (37 ) 293 494 (141 ) 609 Provision for taxes on income (17 ) 111 103 — 197 Equity in net income of subsidiaries 617 72 — (689 ) — Net income $ 597 $ 254 $ 391 $ (830 ) $ 412 Less: net income attributable to noncontrolling interests — — — (29 ) (29 ) Net income attributable to S&P Global Inc. $ 597 $ 254 $ 391 $ (859 ) $ 383 Comprehensive income $ 545 $ 261 $ 409 $ (850 ) $ 365 Statement of Income Six Months Ended June 30, 2016 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 342 $ 754 $ 1,789 $ (62 ) $ 2,823 Expenses: Operating-related expenses 52 231 705 (62 ) 926 Selling and general expenses 51 97 499 — 647 Depreciation 19 5 16 — 40 Amortization of intangibles — — 47 — 47 Total expenses 122 333 1,267 (62 ) 1,660 Operating profit 220 421 522 — 1,163 Interest expense (income), net 86 — (3 ) — 83 Non-operating intercompany transactions 169 (42 ) (697 ) 570 — Income before taxes on income (35 ) 463 1,222 (570 ) 1,080 Provision for taxes on income (18 ) 167 196 — 345 Equity in net income of subsidiaries 1,408 144 — (1,552 ) — Net income $ 1,391 $ 440 $ 1,026 $ (2,122 ) $ 735 Less: net income attributable to noncontrolling interests — — — (58 ) (58 ) Net income attributable to S&P Global Inc. $ 1,391 $ 440 $ 1,026 $ (2,180 ) $ 677 Comprehensive income $ 1,347 $ 446 $ 1,055 $ (2,140 ) $ 708 Statement of Income Three Months Ended June 30, 2015 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 161 $ 573 $ 636 $ (28 ) $ 1,342 Expenses: Operating-related expenses 21 154 265 (28 ) 412 Selling and general expenses 1 101 224 — 326 Depreciation 10 5 7 — 22 Amortization of intangibles 1 — 10 — 11 Total expenses 33 260 506 (28 ) 771 Other income — — (11 ) — (11 ) Operating profit 128 313 141 — 582 Interest expense (income), net 20 — (4 ) — 16 Non-operating intercompany transactions 71 59 (130 ) — — Income before taxes on income 37 254 275 — 566 Provision for taxes on income 11 99 75 — 185 Equity in net income of subsidiaries 338 68 — (406 ) — Net income $ 364 $ 223 $ 200 $ (406 ) $ 381 Less: net income attributable to noncontrolling interests — — — (28 ) (28 ) Net income attributable to S&P Global Inc. $ 364 $ 223 $ 200 $ (434 ) $ 353 Comprehensive income $ 384 $ 222 $ 262 $ (405 ) $ 463 Statement of Income Six Months Ended June 30, 2015 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 317 $ 1,117 $ 1,237 $ (56 ) $ 2,615 Expenses: Operating-related expenses 53 311 515 (56 ) 823 Selling and general expenses 67 162 425 — 654 Depreciation 19 10 14 — 43 Amortization of intangibles 2 — 21 — 23 Total expenses 141 483 975 (56 ) 1,543 Other income — — (11 ) — (11 ) Operating profit 176 634 273 — 1,083 Interest expense (income), net 37 — (5 ) — 32 Non-operating intercompany transactions 129 91 (220 ) — — Income before taxes on income 10 543 498 — 1,051 Provision for taxes on income 17 190 133 — 340 Equity in net income of subsidiaries 703 134 — (837 ) — Net income $ 696 $ 487 $ 365 $ (837 ) $ 711 Less: net income attributable to noncontrolling interests — — — (55 ) (55 ) Net income attributable to S&P Global Inc. $ 696 $ 487 $ 365 $ (892 ) $ 656 Comprehensive income $ 710 $ 486 $ 357 $ (839 ) $ 714 Balance Sheet June 30, 2016 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated ASSETS Current assets: Cash and cash equivalents $ 62 $ — $ 1,505 $ — $ 1,567 Accounts receivable, net of allowance for doubtful accounts 117 170 720 — 1,007 Intercompany receivable 41 1,798 1,160 (2,999 ) — Deferred income taxes 75 10 26 (1 ) 110 Prepaid and other current assets 107 — 94 — 201 Assets of businesses held for sale 22 — 552 — 574 Total current assets 424 1,978 4,057 (3,000 ) 3,459 Property and equipment, net of accumulated depreciation 123 1 118 — 242 Goodwill 17 — 2,874 (9 ) 2,882 Other intangible assets, net — — 1,483 — 1,483 Investments in subsidiaries 5,376 662 7,265 (13,303 ) — Intercompany loans receivable 17 374 1,834 (2,225 ) — Other non-current assets 71 21 133 225 Total assets $ 6,028 $ 3,036 $ 17,764 $ (18,537 ) $ 8,291 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 70 $ 23 $ 85 $ — $ 178 Intercompany payable 2,569 282 148 (2,999 ) — Accrued compensation and contributions to retirement plans 100 23 142 — 265 Short-term debt 309 — — — 309 Unearned revenue 272 205 983 — 1,460 Other current liabilities 150 (62 ) 338 426 Liabilities of businesses held for sale 83 — 124 — 207 Total current liabilities 3,553 471 1,820 (2,999 ) 2,845 Long-term debt 3,470 — — — 3,470 Intercompany loans payable 10 — 2,215 (2,225 ) — Pension and postretirement benefits 209 — 51 — 260 Other non-current liabilities (12 ) 84 300 (1 ) 371 Total liabilities 7,230 555 4,386 (5,225 ) 6,946 Redeemable noncontrolling interest — — — 920 920 Equity: Common stock 412 — 2,336 (2,336 ) 412 Additional paid-in capital (233 ) 130 11,224 (10,677 ) 444 Retained income 6,961 2,345 121 (1,304 ) 8,123 Accumulated other comprehensive loss (366 ) 6 (293 ) 26 (627 ) Less: common stock in treasury (7,976 ) — (10 ) 10 (7,976 ) Total equity - controlling interests (1,202 ) 2,481 13,378 (14,281 ) 376 Total equity - noncontrolling interests — — — 49 49 Total equity (1,202 ) 2,481 13,378 (14,232 ) 425 Total liabilities and equity $ 6,028 $ 3,036 $ 17,764 $ (18,537 ) $ 8,291 Balance Sheet December 31, 2015 (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated ASSETS Current assets: Cash and cash equivalents $ 167 $ — $ 1,314 $ — $ 1,481 Accounts receivable, net of allowance for doubtful accounts 116 319 556 — 991 Intercompany receivable 208 1,872 1,273 (3,353 ) — Deferred income taxes 75 10 24 — 109 Prepaid and other current assets 120 13 80 (1 ) 212 Assets of businesses held for sale 4 — 499 — 503 Total current assets 690 2,214 3,746 (3,354 ) 3,296 Property and equipment, net of accumulated depreciation 141 3 126 — 270 Goodwill 17 40 2,816 9 2,882 Other intangible assets, net — — 1,522 — 1,522 Investments in subsidiaries 4,651 659 7,316 (12,626 ) — Intercompany loans receivable 16 368 1,733 (2,117 ) — Other non-current assets 67 19 127 — 213 Total assets $ 5,582 $ 3,303 $ 17,386 $ (18,088 ) $ 8,183 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 71 $ 54 $ 81 $ — $ 206 Intercompany payable 2,144 675 535 (3,354 ) — Accrued compensation and contributions to retirement plans 127 89 167 — 383 Short-term debt 143 — — — 143 Unearned revenue 254 586 582 (1 ) 1,421 Other current liabilities 191 65 293 — 549 Liabilities of businesses held for sale 80 — 126 — 206 Total current liabilities 3,010 1,469 1,784 (3,355 ) 2,908 Long-term debt 3,468 — — — 3,468 Intercompany loans payable 21 — 2,096 (2,117 ) — Pension and postretirement benefits 230 — 46 — 276 Other non-current liabilities (25 ) 98 295 — 368 Total liabilities 6,704 1,567 4,221 (5,472 ) 7,020 Redeemable noncontrolling interest — — — 920 920 Equity: Common stock 412 — 2,337 (2,337 ) 412 Additional paid-in capital (184 ) 1,179 10,174 (10,694 ) 475 Retained income 6,701 557 987 (609 ) 7,636 Accumulated other comprehensive loss (322 ) — (322 ) 44 (600 ) Less: common stock in treasury (7,729 ) — (12 ) 12 (7,729 ) Total equity - controlling interests (1,122 ) 1,736 13,164 (13,584 ) 194 Total equity - noncontrolling interests — — 1 48 49 Total equity (1,122 ) 1,736 13,165 (13,536 ) 243 Total liabilities and equity $ 5,582 $ 3,303 $ 17,386 $ (18,088 ) $ 8,183 Statement of Cash Flows Six Months Ended June 30, 2016 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Operating Activities: Net income $ 1,391 $ 440 $ 1,026 $ (2,122 ) $ 735 Adjustments to reconcile net income to cash provided by operating activities from continuing operations: Depreciation 19 5 16 — 40 Amortization of intangibles — — 47 — 47 Provision for losses on accounts receivable 1 1 6 — 8 Deferred income taxes (4 ) — — — (4 ) Stock-based compensation 10 7 17 — 34 Other 3 8 36 — 47 Changes in operating assets and liabilities, net of effect of acquisitions and dispositions: Accounts receivable (7 ) 148 (180 ) — (39 ) Prepaid and other current assets (28 ) 13 (6 ) — (21 ) Accounts payable and accrued expenses (67 ) (98 ) (47 ) — (212 ) Unearned revenue 18 (375 ) 395 — 38 Accrued legal and regulatory settlements — (108 ) — — (108 ) Other current liabilities (25 ) (25 ) 27 — (23 ) Net change in prepaid/accrued income taxes 64 — 9 — 73 Net change in other assets and liabilities (31 ) 27 (40 ) — (44 ) Cash provided by operating activities from continuing operations 1,344 43 1,306 (2,122 ) 571 Investing Activities: Capital expenditures (16 ) (7 ) (13 ) — (36 ) Acquisitions, net of cash acquired (40 ) — (12 ) — (52 ) Cash used for investing activities from continuing operations (56 ) (7 ) (25 ) — (88 ) Financing Activities: Additions to short-term debt, net 166 — — — 166 Dividends paid to shareholders (191 ) — — — (191 ) Dividends and other payments paid to noncontrolling interests — — (57 ) — (57 ) Repurchase of treasury shares (373 ) — — — (373 ) Exercise of stock options 64 — 1 — 65 Excess tax benefits from share-based payments 19 — — — 19 Intercompany financing activities (1,038 ) (36 ) (1,048 ) 2,122 — Cash used for financing activities from continuing operations (1,353 ) (36 ) (1,104 ) 2,122 (371 ) Effect of exchange rate changes on cash from continuing operations (40 ) — 14 — (26 ) Net change in cash and cash equivalents (105 ) — 191 — 86 Cash and cash equivalents at beginning of period 167 — 1,314 — 1,481 Cash and cash equivalents at end of period $ 62 $ — $ 1,505 $ — $ 1,567 Statement of Cash Flows Six Months Ended June 30, 2015 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Operating Activities: Net income $ 696 $ 487 $ 365 $ (837 ) $ 711 Adjustments to reconcile net income to cash provided by (used for) operating activities from continuing operations: Depreciation 19 10 14 — 43 Amortization of intangibles 2 — 21 — 23 Provision for losses on accounts receivable — (2 ) 6 — 4 Deferred income taxes (138 ) 161 143 — 166 Stock-based compensation 11 11 15 — 37 Other 9 29 13 — 51 Changes in operating assets and liabilities, net of effect of acquisitions and dispositions: Accounts receivable 1 (23 ) (114 ) — (136 ) Prepaid and other current assets 32 (3 ) (53 ) — (24 ) Accounts payable and accrued expenses (99 ) (43 ) (115 ) — (257 ) Unearned revenue 11 15 45 — 71 Accrued legal and regulatory settlements — (1,609 ) — — (1,609 ) Other current liabilities (34 ) (22 ) (9 ) — (65 ) Net change in prepaid/accrued income taxes 108 — 11 — 119 Net change in other assets and liabilities 62 3 (96 ) — (31 ) Cash provided by (used for) operating activities from continuing operations 680 (986 ) 246 (837 ) (897 ) Investing Activities: Capital expenditures (18 ) (4 ) (20 ) — (42 ) Acquisitions, net of cash acquired — — (2 ) — (2 ) Proceeds from dispositions — — 14 — 14 Changes in short-term investments — — (7 ) — (7 ) Cash used for investing activities from continuing operations (18 ) (4 ) (15 ) — (37 ) Financing Activities: Proceeds from issuance of senior notes, net 690 — — — 690 Dividends paid to shareholders (185 ) — — — (185 ) Dividends and other payments paid to noncontrolling interests — — (49 ) — (49 ) Repurchase of treasury shares (274 ) — — — (274 ) Exercise of stock options 71 — 2 — 73 Excess tax benefits from share-based payments 38 — — — 38 Intercompany financing activities (1,870 ) 990 43 837 — Cash (used for) provided by financing activities from continuing operations (1,530 ) 990 (4 ) 837 293 Effect of exchange rate changes on cash from continuing operations (3 ) — (4 ) — (7 ) Cash (used for) provided by continuing operations (871 ) — 223 — (648 ) Discontinued Operations: Cash used for operating activities — — (129 ) — (129 ) Cash used for discontinued operations — — (129 ) — (129 ) Net change in cash and cash equivalents (871 ) — 94 — (777 ) Cash and cash equivalents at beginning of period 1,402 — 1,095 — 2,497 Cash and cash equivalents at end of period $ 531 $ — $ 1,189 $ — $ 1,720

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	6 Months Ended
	Jun. 30, 2016
Acquisitions and Divestitures [Abstract]
Components of assets and liabilities, and operating profit, of businesses held for sale	The components of assets and liabilities of businesses held for sale in the consolidated balance sheets consist of the following: (in millions) June 30, December 31, 2016 2015 Accounts receivable, net $ 72 $ 58 Goodwill 133 75 Other intangible assets, net 309 335 Other assets 60 35 Assets of businesses held for sale $ 574 $ 503 Accounts payable and accrued expenses $ 35 $ 42 Unearned revenue 66 64 Other liabilities 106 100 Liabilities of businesses held for sale $ 207 $ 206 The operating profit of our businesses held for sale for the periods ended June 30, 2016 and 2015 is as follows: (in millions) Three Months Six Months 2016 2015 2016 2015 Operating profit $ 20 $ 22 $ 44 $ 38

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Schedule of debt	(in millions) June 30, December 31, 5.9% Senior Notes, due 2017 1 $ 400 399 2.5% Senior Notes, due 2018 2 398 398 3.3% Senior Notes, due 2020 3 695 695 4.0% Senior Notes, due 2025 4 690 690 4.4% Senior Notes, due 2026 5 891 890 6.55% Senior Notes, due 2037 6 396 396 Commercial paper 309 143 Total debt 3,779 3,611 Less: short-term debt including current maturities 309 143 Long-term debt $ 3,470 $ 3,468 1 Interest payments are due semiannually on April 15 and October 15, and as of June 30, 2016 , the unamortized debt discount and issuance costs are less than $1 million . 2 Interest payments are due semiannually on February 15 and August 15, and as of June 30, 2016 , the unamortized debt discount and issuance costs total $2 million . 3 Interest payments are due semiannually on February 14 and August 14, and as of June 30, 2016 , the unamortized debt discount and issuance costs total $5 million . 4 Interest payments are due semiannually on June 15 and December 15, and as of June 30, 2016 , the unamortized debt discount and issuance costs total $10 million . 5 Interest payments are due semiannually on February 15 and August 15, and as of June 30, 2016 , the unamortized debt discount and issuance costs total $9 million . 6 Interest payments are due semiannually on May 15 and November 15, and as of June 30, 2016 , the unamortized debt discount and issuance costs total $4 million .

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of the location and fair value amounts of cash flow hedges	The following table provides information on the location and fair value amounts of our cash flow hedges as of June 30, 2016 and December 31, 2015: (in millions) Balance Sheet Location June 30, 2016 December 31, 2015 Prepaid and other current assets 1 Foreign exchange forward contracts $ 4 $ 1 1 We use the income approach to measure the fair value of our forward currency forward contracts. The income approach uses pricing models that rely on observable inputs such as forward rates, and therefore are classified as Level 2.
Schedule of the location and amounts of pre-tax gains (losses) on cash flow hedges	The following table provides information on the location and amounts of pre-tax gains (losses) on our cash flow hedges for the periods ended June 30 : Three Months (in millions) Gain (Loss) Recognized in Accumulated Other Comprehensive Loss (effective portion) Location of Gain Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion) Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion) Cash flow hedges - designated as hedging instruments 2016 2015 2016 2015 Foreign exchange forward contracts $ (1 ) $ (1 ) Selling and general expenses $ 1 $ — Six Months (in millions) Gain (Loss) Recognized in Accumulated Other Comprehensive Loss (effective portion) Location of Gain Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion) Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion) Cash flow hedges - designated as hedging instruments 2016 2015 2016 2015 Foreign exchange forward contracts $ 2 $ — Selling and general expenses $ 2 $ —
Change in unrealized gains (losses) in accumulated other comprehensive loss	The activity related to the change in unrealized gains (losses) in accumulated other comprehensive loss was as follows for the periods ended June 30 : (in millions) Three Months Six Months 2016 2015 2016 2015 Net unrealized gains (losses) on cash flow hedges, net of taxes, beginning of period $ 2 $ — $ (1 ) $ (1 ) Change in fair value, net of tax — (1 ) 4 — Reclassification into earnings, net of tax (1 ) — (2 ) — Net unrealized gains (losses) on cash flow hedges, net of taxes, end of period $ 1 $ (1 ) $ 1 $ (1 )

Employee Benefits (Tables)

Employee Benefits (Tables)	6 Months Ended
	Jun. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Components of net periodic benefit (credit) cost for our retirement plans and postretirement plans	The components of net periodic benefit (credit) cost for our retirement plans and postretirement plans for the periods ended June 30 are as follows: Retirement Plans (in millions) Three Months Six Months 2016 2015 2016 2015 Service cost $ 1 $ 2 $ 1 $ 3 Interest cost 19 24 39 48 Expected return on plan assets (31 ) (32 ) (61 ) (63 ) Amortization of actuarial loss 4 5 8 10 Net periodic benefit (credit) cost $ (7 ) $ (1 ) $ (13 ) $ (2 ) Postretirement Plans (in millions) Three Months Six Months 2016 2015 2016 2015 Service cost $ — $ — $ — $ — Interest cost 1 1 1 2 Amortization of prior service credit / actuarial gain (1 ) (1 ) (1 ) (1 ) Net periodic benefit (credit) cost $ — $ — $ — $ 1

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2016
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 2016 2015 2016 2015 Stock option expense 1 $ 2 $ 3 $ 4 $ 9 Restricted stock and unit awards expense 18 16 30 28 Total stock-based compensation expense $ 20 $ 19 $ 34 $ 37 1 There were a minimal amount of stock options granted in 2015. During 2015, the Company stopped granting stock options.

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2016
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 2016 2015 2016 2015 Total number of shares purchased 1.4 1.6 3.5 2.6 Average price paid per share 1 $ 107.74 $ 104.82 $ 98.05 $ 104.62 Total cash utilized 1 $ 147 $ 164 $ 347 $ 274 1 In December of 2015, 0.3 million shares were repurchased for approximately $26 million , which settled in January of 2016. Cash used for financing activities only reflects those shares which settled during the six months ended June 30, 2016 resulting in $373 million of cash used to repurchase shares.
Schedule of redeemable noncontrolling interest	Changes to redeemable noncontrolling interest during the six months ended June 30, 2016 were as follows: (in millions) Balance as of December 31, 2015 $ 920 Net income attributable to noncontrolling interest 53 Distributions payable to noncontrolling interest (52 ) Redemption value adjustment (1 ) Balance as of June 30, 2016 $ 920
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, 2016 : (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, 2015 $ (193 ) $ (406 ) $ (1 ) $ (600 ) Other comprehensive income before reclassifications (41 ) 7 4 (30 ) Reclassifications from accumulated other comprehensive loss to net earnings — 5 1 (2 ) 2 3 Net other comprehensive income (41 ) 12 2 (27 ) Balance as of June 30, 2016 $ (234 ) $ (394 ) $ 1 $ (627 ) 1 See Note 6 — Employee Benefits for additional details of items reclassed from accumulated other comprehensive loss to net earnings. 2 See Note 5 — Derivative Instruments for additional details of items reclassed from accumulated other comprehensive loss to net earnings.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2016
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 Six Months 2016 2015 2016 2015 Amounts attributable to S&P Global Inc. common shareholders: Net income $ 383 $ 353 $ 677 $ 656 Basic weighted-average number of common shares outstanding 264.5 273.1 264.7 273.3 Effect of stock options and other dilutive securities 2.2 2.6 2.3 2.7 Diluted weighted-average number of common shares outstanding 266.7 275.7 267.0 276.0 Earnings per share attributable to S&P Global Inc. common shareholders: Net income: Basic $ 1.45 $ 1.29 $ 2.56 $ 2.40 Diluted $ 1.44 $ 1.28 $ 2.54 $ 2.38

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Jun. 30, 2016
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, 2016 by segment is as follows: 2016 Restructuring Plans 2015 Restructuring Plans (in millions) Initial Charge Recorded Ending Reserve Balance Initial Charge Recorded Ending Reserve Balance S&P Global Ratings $ 8 $ 7 $ 18 $ 9 S&P Global Market Intelligence — — 31 13 S&P Global Platts 3 3 3 1 Corporate — — 11 7 Total $ 11 $ 10 $ 63 $ 30

Segment and Related Informati31

Segment and Related Information (Tables)	6 Months Ended
	Jun. 30, 2016
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 2016 2015 (in millions) Revenue Operating Profit Revenue Operating Profit S&P Global Ratings 1 $ 682 $ 396 $ 658 $ 361 S&P Global Market Intelligence 2 416 93 324 63 S&P DJ Indices 3 153 100 148 96 S&P Global Platts 4 255 93 234 87 Intersegment elimination 5 (24 ) — (22 ) — Total operating segments 1,482 682 1,342 607 Unallocated expense 6 — (31 ) — (25 ) Total $ 1,482 $ 651 $ 1,342 $ 582 Six Months 2016 2015 (in millions) Revenue Operating Profit Revenue Operating Profit S&P Global Ratings 1 $ 1,234 $ 658 $ 1,264 $ 652 S&P Global Market Intelligence 2 824 173 644 125 S&P DJ Indices 3 304 200 291 191 S&P Global Platts 4 509 196 459 173 Intersegment elimination 5 (48 ) — (43 ) — Total operating segments 2,823 1,227 2,615 1,141 Unallocated expense 6 — (64 ) — (58 ) Total $ 2,823 $ 1,163 $ 2,615 $ 1,083 1 Operating profit for the three and six months ended June 30, 2016 includes a benefit related to legal settlement insurance recoveries of $37 million and $52 million , respectively, partially offset by legal settlement charges of $3 million and $6 million , respectively. Operating profit for the three and six months ended June 30, 2015 includes a benefit related to legal settlement insurance recoveries of $45 million and $80 million , respectively, partially offset by legal settlement charges of $4 million and $34 million , respectively. Additionally, the three and six months ended June 30, 2016 and 2015 includes restructuring charges of $6 million and $8 million , respectively. Operating profit also includes amortization of intangibles from acquisitions of $1 million for the three months ended June 30, 2016 and 2015 and $3 million and $2 million for the six months ended June 30, 2016 and 2015, respectively. 2 Operating profit includes disposition-related costs of $8 million for the three and six months ended June 30, 2016 and a technology related impairment charge of $24 million for the six months ended June 30, 2016. Additionally, restructuring charges of $12 million are included for the three and six months ended June 30, 2015. Operating profit also includes amortization of intangibles from acquisitions of $18 million and $36 million for the three and six months ended June 30, 2016 , respectively, and $6 million and $12 million for the three and six months ended June 30, 2015 , respectively. 3 Operating profit includes amortization of intangibles from acquisitions of $1 million for the three months ended June 30, 2016 and 2015 and $3 million for the six months ended June 30, 2016 and 2015. 4 Operating profit for the three and six months ended June 30, 2016 includes disposition-related costs of $2 million and $4 million , respectively. Additionally, restructuring charges of $1 million are included for the three and six months ended June 30, 2015. Operating profit also includes amortization of intangibles from acquisitions of $3 million for the three months ended June 30, 2016 and 2015 and $5 million and $6 million for the six months ended June 30, 2016 and 2015, respectively. 5 Revenue for S&P Global Ratings and expenses for S&P Global Market Intelligence include an intersegment royalty charged to S&P Global Market Intelligence for the rights to use and distribute content and data developed by S&P Global Ratings. 6 The three and six months ended June 30, 2016 includes $3 million from a disposition-related reserve release. The three and six months ended June 30, 2015 include a gain of $11 million related to the sale of our interest in a legacy McGraw Hill Construction investment. See Note 2 — Acquisitions and Divestitures for additional information. Additionally, restructuring charges of $1 million are included for the three and six months ended June 30, 2015.
Revenue by geographic region	The following provides revenue by geographic region for the periods ended June 30 : (in millions) Three Months Six Months 2016 2015 2016 2015 U.S. $ 910 $ 810 $ 1,750 $ 1,575 European region 339 310 636 617 Asia 156 151 293 279 Rest of the world 77 71 144 144 Total $ 1,482 $ 1,342 $ 2,823 $ 2,615

Condensed Consolidating Finan32

Condensed Consolidating Financial Statements (Tables)	6 Months Ended
	Jun. 30, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Statement of Income	Statement of Income Three Months Ended June 30, 2016 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 171 $ 413 $ 930 $ (32 ) $ 1,482 Expenses: Operating-related expenses 26 93 382 (32 ) 469 Selling and general expenses 33 62 222 — 317 Depreciation 10 2 10 — 22 Amortization of intangibles — — 23 — 23 Total expenses 69 157 637 (32 ) 831 Operating profit 102 256 293 — 651 Interest expense (income), net 44 — (2 ) — 42 Non-operating intercompany transactions 95 (37 ) (199 ) 141 — Income before taxes on income (37 ) 293 494 (141 ) 609 Provision for taxes on income (17 ) 111 103 — 197 Equity in net income of subsidiaries 617 72 — (689 ) — Net income $ 597 $ 254 $ 391 $ (830 ) $ 412 Less: net income attributable to noncontrolling interests — — — (29 ) (29 ) Net income attributable to S&P Global Inc. $ 597 $ 254 $ 391 $ (859 ) $ 383 Comprehensive income $ 545 $ 261 $ 409 $ (850 ) $ 365 Statement of Income Six Months Ended June 30, 2016 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 342 $ 754 $ 1,789 $ (62 ) $ 2,823 Expenses: Operating-related expenses 52 231 705 (62 ) 926 Selling and general expenses 51 97 499 — 647 Depreciation 19 5 16 — 40 Amortization of intangibles — — 47 — 47 Total expenses 122 333 1,267 (62 ) 1,660 Operating profit 220 421 522 — 1,163 Interest expense (income), net 86 — (3 ) — 83 Non-operating intercompany transactions 169 (42 ) (697 ) 570 — Income before taxes on income (35 ) 463 1,222 (570 ) 1,080 Provision for taxes on income (18 ) 167 196 — 345 Equity in net income of subsidiaries 1,408 144 — (1,552 ) — Net income $ 1,391 $ 440 $ 1,026 $ (2,122 ) $ 735 Less: net income attributable to noncontrolling interests — — — (58 ) (58 ) Net income attributable to S&P Global Inc. $ 1,391 $ 440 $ 1,026 $ (2,180 ) $ 677 Comprehensive income $ 1,347 $ 446 $ 1,055 $ (2,140 ) $ 708 Statement of Income Three Months Ended June 30, 2015 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 161 $ 573 $ 636 $ (28 ) $ 1,342 Expenses: Operating-related expenses 21 154 265 (28 ) 412 Selling and general expenses 1 101 224 — 326 Depreciation 10 5 7 — 22 Amortization of intangibles 1 — 10 — 11 Total expenses 33 260 506 (28 ) 771 Other income — — (11 ) — (11 ) Operating profit 128 313 141 — 582 Interest expense (income), net 20 — (4 ) — 16 Non-operating intercompany transactions 71 59 (130 ) — — Income before taxes on income 37 254 275 — 566 Provision for taxes on income 11 99 75 — 185 Equity in net income of subsidiaries 338 68 — (406 ) — Net income $ 364 $ 223 $ 200 $ (406 ) $ 381 Less: net income attributable to noncontrolling interests — — — (28 ) (28 ) Net income attributable to S&P Global Inc. $ 364 $ 223 $ 200 $ (434 ) $ 353 Comprehensive income $ 384 $ 222 $ 262 $ (405 ) $ 463 Statement of Income Six Months Ended June 30, 2015 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 317 $ 1,117 $ 1,237 $ (56 ) $ 2,615 Expenses: Operating-related expenses 53 311 515 (56 ) 823 Selling and general expenses 67 162 425 — 654 Depreciation 19 10 14 — 43 Amortization of intangibles 2 — 21 — 23 Total expenses 141 483 975 (56 ) 1,543 Other income — — (11 ) — (11 ) Operating profit 176 634 273 — 1,083 Interest expense (income), net 37 — (5 ) — 32 Non-operating intercompany transactions 129 91 (220 ) — — Income before taxes on income 10 543 498 — 1,051 Provision for taxes on income 17 190 133 — 340 Equity in net income of subsidiaries 703 134 — (837 ) — Net income $ 696 $ 487 $ 365 $ (837 ) $ 711 Less: net income attributable to noncontrolling interests — — — (55 ) (55 ) Net income attributable to S&P Global Inc. $ 696 $ 487 $ 365 $ (892 ) $ 656 Comprehensive income $ 710 $ 486 $ 357 $ (839 ) $ 714
Balance Sheet	Balance Sheet June 30, 2016 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated ASSETS Current assets: Cash and cash equivalents $ 62 $ — $ 1,505 $ — $ 1,567 Accounts receivable, net of allowance for doubtful accounts 117 170 720 — 1,007 Intercompany receivable 41 1,798 1,160 (2,999 ) — Deferred income taxes 75 10 26 (1 ) 110 Prepaid and other current assets 107 — 94 — 201 Assets of businesses held for sale 22 — 552 — 574 Total current assets 424 1,978 4,057 (3,000 ) 3,459 Property and equipment, net of accumulated depreciation 123 1 118 — 242 Goodwill 17 — 2,874 (9 ) 2,882 Other intangible assets, net — — 1,483 — 1,483 Investments in subsidiaries 5,376 662 7,265 (13,303 ) — Intercompany loans receivable 17 374 1,834 (2,225 ) — Other non-current assets 71 21 133 225 Total assets $ 6,028 $ 3,036 $ 17,764 $ (18,537 ) $ 8,291 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 70 $ 23 $ 85 $ — $ 178 Intercompany payable 2,569 282 148 (2,999 ) — Accrued compensation and contributions to retirement plans 100 23 142 — 265 Short-term debt 309 — — — 309 Unearned revenue 272 205 983 — 1,460 Other current liabilities 150 (62 ) 338 426 Liabilities of businesses held for sale 83 — 124 — 207 Total current liabilities 3,553 471 1,820 (2,999 ) 2,845 Long-term debt 3,470 — — — 3,470 Intercompany loans payable 10 — 2,215 (2,225 ) — Pension and postretirement benefits 209 — 51 — 260 Other non-current liabilities (12 ) 84 300 (1 ) 371 Total liabilities 7,230 555 4,386 (5,225 ) 6,946 Redeemable noncontrolling interest — — — 920 920 Equity: Common stock 412 — 2,336 (2,336 ) 412 Additional paid-in capital (233 ) 130 11,224 (10,677 ) 444 Retained income 6,961 2,345 121 (1,304 ) 8,123 Accumulated other comprehensive loss (366 ) 6 (293 ) 26 (627 ) Less: common stock in treasury (7,976 ) — (10 ) 10 (7,976 ) Total equity - controlling interests (1,202 ) 2,481 13,378 (14,281 ) 376 Total equity - noncontrolling interests — — — 49 49 Total equity (1,202 ) 2,481 13,378 (14,232 ) 425 Total liabilities and equity $ 6,028 $ 3,036 $ 17,764 $ (18,537 ) $ 8,291 Balance Sheet December 31, 2015 (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated ASSETS Current assets: Cash and cash equivalents $ 167 $ — $ 1,314 $ — $ 1,481 Accounts receivable, net of allowance for doubtful accounts 116 319 556 — 991 Intercompany receivable 208 1,872 1,273 (3,353 ) — Deferred income taxes 75 10 24 — 109 Prepaid and other current assets 120 13 80 (1 ) 212 Assets of businesses held for sale 4 — 499 — 503 Total current assets 690 2,214 3,746 (3,354 ) 3,296 Property and equipment, net of accumulated depreciation 141 3 126 — 270 Goodwill 17 40 2,816 9 2,882 Other intangible assets, net — — 1,522 — 1,522 Investments in subsidiaries 4,651 659 7,316 (12,626 ) — Intercompany loans receivable 16 368 1,733 (2,117 ) — Other non-current assets 67 19 127 — 213 Total assets $ 5,582 $ 3,303 $ 17,386 $ (18,088 ) $ 8,183 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 71 $ 54 $ 81 $ — $ 206 Intercompany payable 2,144 675 535 (3,354 ) — Accrued compensation and contributions to retirement plans 127 89 167 — 383 Short-term debt 143 — — — 143 Unearned revenue 254 586 582 (1 ) 1,421 Other current liabilities 191 65 293 — 549 Liabilities of businesses held for sale 80 — 126 — 206 Total current liabilities 3,010 1,469 1,784 (3,355 ) 2,908 Long-term debt 3,468 — — — 3,468 Intercompany loans payable 21 — 2,096 (2,117 ) — Pension and postretirement benefits 230 — 46 — 276 Other non-current liabilities (25 ) 98 295 — 368 Total liabilities 6,704 1,567 4,221 (5,472 ) 7,020 Redeemable noncontrolling interest — — — 920 920 Equity: Common stock 412 — 2,337 (2,337 ) 412 Additional paid-in capital (184 ) 1,179 10,174 (10,694 ) 475 Retained income 6,701 557 987 (609 ) 7,636 Accumulated other comprehensive loss (322 ) — (322 ) 44 (600 ) Less: common stock in treasury (7,729 ) — (12 ) 12 (7,729 ) Total equity - controlling interests (1,122 ) 1,736 13,164 (13,584 ) 194 Total equity - noncontrolling interests — — 1 48 49 Total equity (1,122 ) 1,736 13,165 (13,536 ) 243 Total liabilities and equity $ 5,582 $ 3,303 $ 17,386 $ (18,088 ) $ 8,183
Statement of Cash Flows	Statement of Cash Flows Six Months Ended June 30, 2016 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Operating Activities: Net income $ 1,391 $ 440 $ 1,026 $ (2,122 ) $ 735 Adjustments to reconcile net income to cash provided by operating activities from continuing operations: Depreciation 19 5 16 — 40 Amortization of intangibles — — 47 — 47 Provision for losses on accounts receivable 1 1 6 — 8 Deferred income taxes (4 ) — — — (4 ) Stock-based compensation 10 7 17 — 34 Other 3 8 36 — 47 Changes in operating assets and liabilities, net of effect of acquisitions and dispositions: Accounts receivable (7 ) 148 (180 ) — (39 ) Prepaid and other current assets (28 ) 13 (6 ) — (21 ) Accounts payable and accrued expenses (67 ) (98 ) (47 ) — (212 ) Unearned revenue 18 (375 ) 395 — 38 Accrued legal and regulatory settlements — (108 ) — — (108 ) Other current liabilities (25 ) (25 ) 27 — (23 ) Net change in prepaid/accrued income taxes 64 — 9 — 73 Net change in other assets and liabilities (31 ) 27 (40 ) — (44 ) Cash provided by operating activities from continuing operations 1,344 43 1,306 (2,122 ) 571 Investing Activities: Capital expenditures (16 ) (7 ) (13 ) — (36 ) Acquisitions, net of cash acquired (40 ) — (12 ) — (52 ) Cash used for investing activities from continuing operations (56 ) (7 ) (25 ) — (88 ) Financing Activities: Additions to short-term debt, net 166 — — — 166 Dividends paid to shareholders (191 ) — — — (191 ) Dividends and other payments paid to noncontrolling interests — — (57 ) — (57 ) Repurchase of treasury shares (373 ) — — — (373 ) Exercise of stock options 64 — 1 — 65 Excess tax benefits from share-based payments 19 — — — 19 Intercompany financing activities (1,038 ) (36 ) (1,048 ) 2,122 — Cash used for financing activities from continuing operations (1,353 ) (36 ) (1,104 ) 2,122 (371 ) Effect of exchange rate changes on cash from continuing operations (40 ) — 14 — (26 ) Net change in cash and cash equivalents (105 ) — 191 — 86 Cash and cash equivalents at beginning of period 167 — 1,314 — 1,481 Cash and cash equivalents at end of period $ 62 $ — $ 1,505 $ — $ 1,567 Statement of Cash Flows Six Months Ended June 30, 2015 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Operating Activities: Net income $ 696 $ 487 $ 365 $ (837 ) $ 711 Adjustments to reconcile net income to cash provided by (used for) operating activities from continuing operations: Depreciation 19 10 14 — 43 Amortization of intangibles 2 — 21 — 23 Provision for losses on accounts receivable — (2 ) 6 — 4 Deferred income taxes (138 ) 161 143 — 166 Stock-based compensation 11 11 15 — 37 Other 9 29 13 — 51 Changes in operating assets and liabilities, net of effect of acquisitions and dispositions: Accounts receivable 1 (23 ) (114 ) — (136 ) Prepaid and other current assets 32 (3 ) (53 ) — (24 ) Accounts payable and accrued expenses (99 ) (43 ) (115 ) — (257 ) Unearned revenue 11 15 45 — 71 Accrued legal and regulatory settlements — (1,609 ) — — (1,609 ) Other current liabilities (34 ) (22 ) (9 ) — (65 ) Net change in prepaid/accrued income taxes 108 — 11 — 119 Net change in other assets and liabilities 62 3 (96 ) — (31 ) Cash provided by (used for) operating activities from continuing operations 680 (986 ) 246 (837 ) (897 ) Investing Activities: Capital expenditures (18 ) (4 ) (20 ) — (42 ) Acquisitions, net of cash acquired — — (2 ) — (2 ) Proceeds from dispositions — — 14 — 14 Changes in short-term investments — — (7 ) — (7 ) Cash used for investing activities from continuing operations (18 ) (4 ) (15 ) — (37 ) Financing Activities: Proceeds from issuance of senior notes, net 690 — — — 690 Dividends paid to shareholders (185 ) — — — (185 ) Dividends and other payments paid to noncontrolling interests — — (49 ) — (49 ) Repurchase of treasury shares (274 ) — — — (274 ) Exercise of stock options 71 — 2 — 73 Excess tax benefits from share-based payments 38 — — — 38 Intercompany financing activities (1,870 ) 990 43 837 — Cash (used for) provided by financing activities from continuing operations (1,530 ) 990 (4 ) 837 293 Effect of exchange rate changes on cash from continuing operations (3 ) — (4 ) — (7 ) Cash (used for) provided by continuing operations (871 ) — 223 — (648 ) Discontinued Operations: Cash used for operating activities — — (129 ) — (129 ) Cash used for discontinued operations — — (129 ) — (129 ) Net change in cash and cash equivalents (871 ) — 94 — (777 ) Cash and cash equivalents at beginning of period 1,402 — 1,095 — 2,497 Cash and cash equivalents at end of period $ 531 $ — $ 1,189 $ — $ 1,720

Nature of Operations and Basi33

Nature of Operations and Basis of Presentation (Details) $ in Billions	1 Months Ended	6 Months Ended
	Feb. 29, 2016business	Jun. 30, 2016Segment	Apr. 30, 2016USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments (in segments) | Segment		4
J.D. Power | S&P Global Platts | Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration for sale of business | $			$ 1.1
SPSE and CMA | S&P Global Market Intelligence | Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of businesses to be sold | business	2

Acquisitions and Divestitures34

Acquisitions and Divestitures (Narrative) (Details) $ in Millions	1 Months Ended	3 Months Ended	6 Months Ended
	Feb. 29, 2016business	Jun. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Apr. 30, 2016USD ($)
S&P Global Platts
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax gain on disposal		$ (2)	$ (4)
S&P Global Market Intelligence
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax gain on disposal		$ (8)	$ (8)
McGraw Hill Construction
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax gain on disposal				$ 11
J.D. Power | Disposal Group, Held-for-sale, Not Discontinued Operations | S&P Global Platts
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration for sale of business					$ 1,100
SPSE and CMA | Disposal Group, Held-for-sale, Not Discontinued Operations | S&P Global Market Intelligence
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of businesses to be sold | business	2
TRIS Rating Company Limited
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Equity investment acquired		49.00%	49.00%

Acquisitions and Divestitures35

Acquisitions and Divestitures (Components of Assets and Liabilities, and Operating Profits, of Businesses Held for Sale) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Assets and Liabilities of Business Held for Sale
Liabilities of businesses held for sale	$ 207		$ 207		$ 206
J.D. Power, SPSE, and CMA | Disposal Group, Held-for-sale, Not Discontinued Operations
Assets and Liabilities of Business Held for Sale
Accounts receivable, net	72		72		58
Goodwill	133		133		75
Other intangible assets, net	309		309		335
Other assets	60		60		35
Assets of businesses held for sale	574		574		503
Accounts payable and accrued expenses	35		35		42
Unearned revenue	66		66		64
Other liabilities	106		106		100
Liabilities of businesses held for sale	207		207		$ 206
Operating Profit of Business Held for Sale
Operating profit	$ 20	$ 22	$ 44	$ 38

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Effective income tax rate	32.30%	32.60%	31.90%	32.40%
Unrecognized tax benefits	$ 122		$ 122		$ 120
Accrued interest and penalties associated with uncertain tax positions	$ 37		$ 37		$ 31

Debt (Schedule of Debt) (Detail

Debt (Schedule of Debt) (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015	May 26, 2015
Debt Instrument [Line Items]
Total debt	$ 3,779	$ 3,611
Less: short-term debt including current maturities	309	143
Long-term debt	3,470	3,468
Senior notes | 5.9% Senior Notes, due 2017
Debt Instrument [Line Items]
Long-term debt	$ 400	399
Interest rate	5.90%
Unamortized debt discount and issuance costs	$ 1
Senior notes | 2.5% Senior Notes, due 2018
Debt Instrument [Line Items]
Long-term debt	$ 398	398
Interest rate	2.50%
Unamortized debt discount and issuance costs	$ 2
Senior notes | 3.3% Senior Notes, due 2020
Debt Instrument [Line Items]
Long-term debt	$ 695	695
Interest rate	3.30%
Unamortized debt discount and issuance costs	$ 5
Senior notes | 4.0% Senior Notes, due 2025
Debt Instrument [Line Items]
Long-term debt	$ 690	690
Interest rate	4.00%		4.00%
Unamortized debt discount and issuance costs	$ 10
Senior notes | 4.4% Senior Notes, due 2026
Debt Instrument [Line Items]
Long-term debt	$ 891	890
Interest rate	4.40%
Unamortized debt discount and issuance costs	$ 9
Senior notes | 6.55% Senior Notes, due 2037
Debt Instrument [Line Items]
Long-term debt	$ 396	$ 396
Interest rate	6.55%
Unamortized debt discount and issuance costs	$ 4

Debt (Narrative) (Details)

Debt (Narrative) (Details)	6 Months Ended		12 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Long-term debt fair value	$ 3,800,000,000		$ 3,600,000,000
Five-Year Credit Agreement | Maximum
Debt Instrument [Line Items]
Indebtedness to cash flow	4
Five-Year Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 1,200,000,000
Commitment fee	0.15%
Five-Year Credit Agreement | Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Commitment fee	0.10%
Five-Year Credit Agreement | Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Commitment fee	0.20%
Five-Year Credit Agreement | Commercial paper
Debt Instrument [Line Items]
Short-term debt	$ 309,000,000		$ 143,000,000
Five-Year Credit Agreement | Commercial paper | Revolving Credit Facility
Debt Instrument [Line Items]
Average interest rate	0.89%		0.95%
Term of debt instrument	14 days		17 days
Line of Credit | Five-Year Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Term of debt instrument		5 years
Additional funds remaining in credit facility	$ 891,000,000

Derivative Instruments (Narrati

Derivative Instruments (Narrative) (Details) - Cash Flow Hedging - Designated as Hedging Instrument - Foreign exchange forward contracts - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Derivative [Line Items]
Net gains related to derivatives recorded in other comprehensive income (loss) expected to be reclassified into earnings	$ 1
Aggregate notional value	$ 96	$ 59

Derivative Instruments (Locatio

Derivative Instruments (Location and Fair Values of Cash Flow Hedges) (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Cash Flow Hedging | Foreign exchange forward contracts | Designated as Hedging Instrument | Prepaid and other current assets
Derivatives, Fair Value [Line Items]
Derivative, fair value	$ 4	$ 1

Derivative Instruments (Locat41

Derivative Instruments (Location and Amounts of Pre-Tax Gains (Losses) on Cash Flow Hedges) (Details) - Foreign exchange forward contracts - Designated as Hedging Instrument - Cash Flow Hedging - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss (effective portion)	$ (1)	$ (1)	$ 2	$ 0
Selling and general expenses
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion)	$ 1	$ 0	$ 2	$ 0

Derivative Instruments (Change

Derivative Instruments (Change in Unrealized (Losses) Gains in Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Net unrealized gains (losses) on cash flow hedges, net of taxes, beginning of period			$ 194
Net unrealized gains (losses) on cash flow hedges, net of taxes, end of period	$ 376		376
Unrealized Gain (Loss) on Forward Exchange Contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Net unrealized gains (losses) on cash flow hedges, net of taxes, beginning of period	2	$ 0	(1)	$ (1)
Change in fair value, net of tax	0	(1)	4	0
Reclassification into earnings, net of tax	(1)	0	(2)	0
Net unrealized gains (losses) on cash flow hedges, net of taxes, end of period	$ 1	$ (1)	$ 1	$ (1)

Employee Benefits (Components o

Employee Benefits (Components of Net Periodic Benefit (Credit) Cost) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Jun. 30, 2016	Jun. 30, 2015
Retirement Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1	$ 2	$ 1	$ 3
Interest cost	19	24	39	48
Expected return on plan assets	(31)	(32)	(61)	(63)
Amortization of prior service credit / actuarial (gain) loss	4	5	8	10
Net periodic benefit (credit) cost	(7)	(1)	(13)	(2)
Postretirement Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0	0	0
Interest cost	1	1	1	2
Amortization of prior service credit / actuarial (gain) loss	(1)	(1)	(1)	(1)
Net periodic benefit (credit) cost	$ 0	$ 0	$ 0	$ 1

Employee Benefits (Narrative) (

Employee Benefits (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Decrease in net periodic benefit cost due to effect of assumption changes	$ 5	$ 10
Contribution towards retirement plans		4
Expected contributions towards of retirement plans		$ 4

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 20	$ 19	$ 34	$ 37
Stock option expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	2	3	4	9
Restricted stock and unit awards expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	18	$ 16	$ 30	$ 28
Award grants (in shares)			0.5
Award grants, weighted average grant date fair value (in dollars per share)			$ 99.43
Unrecognized compensation expense	$ 81		$ 81
Unrecognized compensation expense, period for recognition			1 year 9 months 60 days

Equity (Narrative) (Details)

Equity (Narrative) (Details) - shares	6 Months Ended
	Jun. 30, 2016	Dec. 04, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Interest in joint venture minimum percentage (at least)	20.00%
Agreement terms, change of control, put option for minority interest ownership, effective period	15 days
2013 Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for repurchase		50,000,000
Maximum number of shares authorized for repurchase, as percentage of outstanding common stock		18.00%
Remaining shares available under repurchase program (in shares)	31,900,000

Equity (Schedule of stock repur

Equity (Schedule of stock repurchases) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares purchased (in shares)	0.3	1.4	1.6	3.5	2.6
Average price paid per share (in dollars per share)		$ 107.74	$ 104.82	$ 98.05	$ 104.62
Total cash utilized	$ 26			$ 346
Cash used to repurchase shares				373	$ 274
Stock Repurchases
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash used to repurchase shares				373
Total SPGI Equity
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total cash utilized		$ 147	$ 164	$ 347	$ 274

Equity (Schedule of redeemable

Equity (Schedule of redeemable noncontrolling interest) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)
Increase (Decrease) in Temporary Equity [Roll Forward]
Balance as of December 31, 2015	$ 920
Net income attributable to noncontrolling interest	53
Distributions payable to noncontrolling interest	(52)
Redemption value adjustment	(1)
Balance as of June 30, 2016	$ 920

Equity (Accumulated Other Compr

Equity (Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance as of December 31, 2015			$ (600)
Other comprehensive income before reclassifications			(30)
Reclassifications from accumulated other comprehensive loss to net earnings			3
Net other comprehensive income			(27)
Balance as of June 30, 2016	$ (627)		(627)
Pension and other postretirement benefit plans, tax	3	$ 16	4	$ 18
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance as of December 31, 2015			(193)
Other comprehensive income before reclassifications			(41)
Net other comprehensive income			(41)
Balance as of June 30, 2016	(234)		(234)
Pension and Postretirement Benefit Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance as of December 31, 2015			(406)
Other comprehensive income before reclassifications			7
Reclassifications from accumulated other comprehensive loss to net earnings			5
Net other comprehensive income			12
Balance as of June 30, 2016	(394)		(394)
Pension and other postretirement benefit plans, tax			2
Unrealized Gain (Loss) on Forward Exchange Contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance as of December 31, 2015			(1)
Other comprehensive income before reclassifications			4
Reclassifications from accumulated other comprehensive loss to net earnings			(2)
Net other comprehensive income			2
Balance as of June 30, 2016	$ 1		$ 1

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Amounts attributable to S&P Global Inc. common shareholders:
Net income	$ 383	$ 353	$ 677	$ 656
Basic weighted-average number of common shares outstanding (in shares)	264.5	273.1	264.7	273.3
Effect of stock options and other dilutive securities (in shares)	2.2	2.6	2.3	2.7
Diluted weighted-average number of common shares outstanding (in shares)	266.7	275.7	267	276
Earnings per share attributable to S&P Global Inc. common shareholders:
Basic (in dollars per share)	$ 1.45	$ 1.29	$ 2.56	$ 2.40
Diluted (in dollars per share)	$ 1.44	$ 1.28	$ 2.54	$ 2.38
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)			1.2	1.7

Restructuring (Details)

Restructuring (Details) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)position	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)position
S&P Global Ratings
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	$ 6	$ 8	$ 6	$ 8
S&P Global Market Intelligence
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded		12		12
S&P Global Platts
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded		$ 1		$ 1
2015 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Workforce reduction (in positions) | position			70		550
Initial Charge Recorded			$ 63
Ending Reserve Balance	30		30		$ 50
Restructuring charges paid			20
2015 Restructuring Plan | S&P Global Ratings
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			18
Ending Reserve Balance	9		9
2015 Restructuring Plan | S&P Global Market Intelligence
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			31
Ending Reserve Balance	13		13
2015 Restructuring Plan | S&P Global Platts
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			3
Ending Reserve Balance	1		1
2015 Restructuring Plan | Corporate
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			11
Ending Reserve Balance	7		7
2016 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			11
Ending Reserve Balance	10		10
Restructuring charges paid			1
2016 Restructuring Plan | S&P Global Ratings
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			8
Ending Reserve Balance	7		7
2016 Restructuring Plan | S&P Global Market Intelligence
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			0
Ending Reserve Balance	0		0
2016 Restructuring Plan | S&P Global Platts
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			3
Ending Reserve Balance	3		3
2016 Restructuring Plan | Corporate
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			0
Ending Reserve Balance	$ 0		$ 0

Segment and Related Informati52

Segment and Related Information (Operating Results by Segment) (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)Segment	Jun. 30, 2015USD ($)
Segment Reporting [Abstract]
Number of reportable segments (in segments) | Segment			4
Segment Reporting Information [Line Items]
Revenue	$ 1,482	$ 1,342	$ 2,823	$ 2,615
Operating Profit	651	582	1,163	1,083
Amortization of intangible assets	23	11	47	23
S&P Global Ratings
Segment Reporting Information [Line Items]
Revenue	682	658	1,234	1,264
Operating Profit	396	361	658	652
Insurance recoveries	37	45	52	80
Legal settlement charge	3	4	6	34
Restructuring charge	6	8	6	8
Amortization of intangible assets	1	1	3	2
S&P Global Market Intelligence
Segment Reporting Information [Line Items]
Revenue	416	324	824	644
Operating Profit	93	63	173	125
Restructuring charge		12		12
Amortization of intangible assets	18	6	36	12
Impairment of intangible asset			24
Disposition-related gain (loss)	(8)		(8)
S&P DJ Indices
Segment Reporting Information [Line Items]
Revenue	153	148	304	291
Operating Profit	100	96	200	191
Amortization of intangible assets	1	1	3	3
S&P Global Platts
Segment Reporting Information [Line Items]
Revenue	255	234	509	459
Operating Profit	93	87	196	173
Restructuring charge		1		1
Amortization of intangible assets	3	3	5	6
Disposition-related gain (loss)	(2)		(4)
Intersegment elimination
Segment Reporting Information [Line Items]
Revenue	(24)	(22)	(48)	(43)
Operating Profit	0	0	0	0
Total operating segments
Segment Reporting Information [Line Items]
Revenue	1,482	1,342	2,823	2,615
Operating Profit	682	607	1,227	1,141
Unallocated expense
Segment Reporting Information [Line Items]
Revenue	0	0	0	0
Operating Profit	(31)	(25)	(64)	(58)
Restructuring charge		1		1
Disposition-related gain (loss)	$ 3		$ 3
McGraw Hill Construction
Segment Reporting Information [Line Items]
Disposition-related gain (loss)				11
McGraw Hill Construction | Unallocated expense
Segment Reporting Information [Line Items]
Disposition-related gain (loss)		$ 11		$ 11

Segment and Related Informati53

Segment and Related Information (Revenue by Geographic Region) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 1,482	$ 1,342	$ 2,823	$ 2,615
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	910	810	1,750	1,575
European region
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	339	310	636	617
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	156	151	293	279
Rest of the world
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 77	$ 71	$ 144	$ 144

Commitments and Contingencies (

Commitments and Contingencies (Details) AUD in Millions, $ in Millions	Feb. 19, 2016AUD	Apr. 30, 2013AUDinvestment	Jun. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Jan. 28, 2016employee	Aug. 31, 2015employeeshareholder	Jun. 30, 2012
Shareholder Derivative Action
Loss Contingencies [Line Items]
Number of shareholders commencing punitive derivative action | shareholder						2
City of Swan
Loss Contingencies [Line Items]
Number of synthetic collateralized debt obligations | investment		8
Damages sought		AUD 327
Settlement amount payable	AUD 144
CME Group | S&P DJ Indices
Loss Contingencies [Line Items]
Revenues earned under license agreement | $			$ 18	$ 40
Noncontrolling interest ownership by noncontrolling owners							27.00%
S&P Global Ratings | Shareholder Derivative Action
Loss Contingencies [Line Items]
Number of former employees named as defendants | employee					9	3

Condensed Consolidating Finan55

Condensed Consolidating Financial Statements (Narrative) (Details) - USD ($)	Jun. 30, 2016	Aug. 18, 2015	May 26, 2015
Condensed Financial Statements, Captions [Line Items]
Ownership interest of subsidiary	100.00%
Senior notes
Condensed Financial Statements, Captions [Line Items]
Debt issued		$ 2,000,000,000
Senior notes | 4.0% Senior Notes due in 2025
Condensed Financial Statements, Captions [Line Items]
Debt issued			$ 700,000,000
Interest rate	4.00%		4.00%
Senior notes | 2.5% Senior Notes due in 2018
Condensed Financial Statements, Captions [Line Items]
Debt issued		$ 400,000,000
Interest rate		2.50%
Senior notes | 3.3% Senior Notes due in 2020
Condensed Financial Statements, Captions [Line Items]
Debt issued		$ 700,000,000
Interest rate		3.30%
Senior notes | 4.4% Senior Notes due in 2026
Condensed Financial Statements, Captions [Line Items]
Debt issued		$ 900,000,000
Interest rate		4.40%

Condensed Consolidating Finan56

Condensed Consolidating Financial Statements (Statement of Income) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Condensed Income Statements, Captions [Line Items]
Revenue	$ 1,482	$ 1,342	$ 2,823	$ 2,615
Expenses:
Operating-related expenses	469	412	926	823
Selling and general expenses	317	326	647	654
Depreciation	22	22	40	43
Amortization of intangibles	23	11	47	23
Total expenses	831	771	1,660	1,543
Other income	0	(11)	0	(11)
Operating profit	651	582	1,163	1,083
Interest expense, net	42	16	83	32
Non-operating intercompany transactions	0	0	0	0
Income before taxes on income	609	566	1,080	1,051
Provision for taxes on income	197	185	345	340
Equity in net income (loss) income of subsidiaries	0	0	0	0
Net income	412	381	735	711
Less: net income attributable to noncontrolling interests	(29)	(28)	(58)	(55)
Net income	383	353	677	656
Comprehensive income	365	463	708	714
Eliminations
Condensed Income Statements, Captions [Line Items]
Revenue	(32)	(28)	(62)	(56)
Expenses:
Operating-related expenses	(32)	(28)	(62)	(56)
Selling and general expenses	0	0	0	0
Depreciation	0	0	0	0
Amortization of intangibles	0	0	0	0
Total expenses	(32)	(28)	(62)	(56)
Other income		0		0
Operating profit	0	0	0	0
Interest expense, net	0	0	0	0
Non-operating intercompany transactions	141	0	570	0
Income before taxes on income	(141)	0	(570)	0
Provision for taxes on income	0	0	0	0
Equity in net income (loss) income of subsidiaries	(689)	(406)	(1,552)	(837)
Net income	(830)	(406)	(2,122)	(837)
Less: net income attributable to noncontrolling interests	(29)	(28)	(58)	(55)
Net income	(859)	(434)	(2,180)	(892)
Comprehensive income	(850)	(405)	(2,140)	(839)
S&P Global Inc.
Condensed Income Statements, Captions [Line Items]
Revenue	171	161	342	317
Expenses:
Operating-related expenses	26	21	52	53
Selling and general expenses	33	1	51	67
Depreciation	10	10	19	19
Amortization of intangibles	0	1	0	2
Total expenses	69	33	122	141
Other income		0		0
Operating profit	102	128	220	176
Interest expense, net	44	20	86	37
Non-operating intercompany transactions	95	71	169	129
Income before taxes on income	(37)	37	(35)	10
Provision for taxes on income	(17)	11	(18)	17
Equity in net income (loss) income of subsidiaries	617	338	1,408	703
Net income	597	364	1,391	696
Less: net income attributable to noncontrolling interests	0	0	0	0
Net income	597	364	1,391	696
Comprehensive income	545	384	1,347	710
Standard & Poor's Financial Services LLC
Condensed Income Statements, Captions [Line Items]
Revenue	413	573	754	1,117
Expenses:
Operating-related expenses	93	154	231	311
Selling and general expenses	62	101	97	162
Depreciation	2	5	5	10
Amortization of intangibles	0	0	0	0
Total expenses	157	260	333	483
Other income		0		0
Operating profit	256	313	421	634
Interest expense, net	0	0	0	0
Non-operating intercompany transactions	(37)	59	(42)	91
Income before taxes on income	293	254	463	543
Provision for taxes on income	111	99	167	190
Equity in net income (loss) income of subsidiaries	72	68	144	134
Net income	254	223	440	487
Less: net income attributable to noncontrolling interests	0	0	0	0
Net income	254	223	440	487
Comprehensive income	261	222	446	486
Non-Guarantor Subsidiaries
Condensed Income Statements, Captions [Line Items]
Revenue	930	636	1,789	1,237
Expenses:
Operating-related expenses	382	265	705	515
Selling and general expenses	222	224	499	425
Depreciation	10	7	16	14
Amortization of intangibles	23	10	47	21
Total expenses	637	506	1,267	975
Other income		(11)		(11)
Operating profit	293	141	522	273
Interest expense, net	(2)	(4)	(3)	(5)
Non-operating intercompany transactions	(199)	(130)	(697)	(220)
Income before taxes on income	494	275	1,222	498
Provision for taxes on income	103	75	196	133
Equity in net income (loss) income of subsidiaries	0	0	0	0
Net income	391	200	1,026	365
Less: net income attributable to noncontrolling interests	0	0	0	0
Net income	391	200	1,026	365
Comprehensive income	$ 409	$ 262	$ 1,055	$ 357

Condensed Consolidating Finan57

Condensed Consolidating Financial Statements (Balance Sheet) (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Assets, Current [Abstract]
Cash and cash equivalents	$ 1,567	$ 1,481	$ 1,720	$ 2,497
Accounts receivable, net of allowance for doubtful accounts	1,007	991
Intercompany receivable	0	0
Deferred income taxes	110	109
Prepaid and other current assets	201	212
Assets of businesses held for sale	574	503
Total current assets	3,459	3,296
Property and equipment, net of accumulated depreciation	242	270
Goodwill	2,882	2,882
Other intangible assets, net	1,483	1,522
Investments in subsidiaries	0	0
Intercompany loans receivable	0	0
Other non-current assets	225	213
Total assets	8,291	8,183
Current liabilities:
Accounts payable	178	206
Intercompany payable	0	0
Accrued compensation and contributions to retirement plans	265	383
Short-term debt	309	143
Unearned revenue	1,460	1,421
Other current liabilities	426	549
Liabilities of businesses held for sale	207	206
Total current liabilities	2,845	2,908
Long-term debt	3,470	3,468
Intercompany loans payable	0	0
Pension and other postretirement benefits	260	276
Other non-current liabilities	371	368
Total liabilities	6,946	7,020
Redeemable noncontrolling interest (Note 8)	920	920
Equity:
Common stock	412	412
Additional paid-in capital	444	475
Retained income	8,123	7,636
Accumulated other comprehensive loss	(627)	(600)
Less: common stock in treasury	(7,976)	(7,729)
Total equity — controlling interests	376	194
Total equity - noncontrolling interests	49	49
Total equity	425	243
Total liabilities and equity	8,291	8,183
Eliminations
Assets, Current [Abstract]
Cash and cash equivalents	0	0	0	0
Accounts receivable, net of allowance for doubtful accounts	0	0
Intercompany receivable	(2,999)	(3,353)
Deferred income taxes	(1)	0
Prepaid and other current assets	0	(1)
Assets of businesses held for sale	0	0
Total current assets	(3,000)	(3,354)
Property and equipment, net of accumulated depreciation	0	0
Goodwill	(9)	9
Other intangible assets, net	0	0
Investments in subsidiaries	(13,303)	(12,626)
Intercompany loans receivable	(2,225)	(2,117)
Other non-current assets		0
Total assets	(18,537)	(18,088)
Current liabilities:
Accounts payable	0	0
Intercompany payable	(2,999)	(3,354)
Accrued compensation and contributions to retirement plans	0	0
Short-term debt	0	0
Unearned revenue	0	(1)
Other current liabilities		0
Liabilities of businesses held for sale	0	0
Total current liabilities	(2,999)	(3,355)
Long-term debt	0	0
Intercompany loans payable	(2,225)	(2,117)
Pension and other postretirement benefits	0	0
Other non-current liabilities	(1)	0
Total liabilities	(5,225)	(5,472)
Redeemable noncontrolling interest (Note 8)	920	920
Equity:
Common stock	(2,336)	(2,337)
Additional paid-in capital	(10,677)	(10,694)
Retained income	(1,304)	(609)
Accumulated other comprehensive loss	26	44
Less: common stock in treasury	10	12
Total equity — controlling interests	(14,281)	(13,584)
Total equity - noncontrolling interests	49	48
Total equity	(14,232)	(13,536)
Total liabilities and equity	(18,537)	(18,088)
S&P Global Inc.
Assets, Current [Abstract]
Cash and cash equivalents	62	167	531	1,402
Accounts receivable, net of allowance for doubtful accounts	117	116
Intercompany receivable	41	208
Deferred income taxes	75	75
Prepaid and other current assets	107	120
Assets of businesses held for sale	22	4
Total current assets	424	690
Property and equipment, net of accumulated depreciation	123	141
Goodwill	17	17
Other intangible assets, net	0	0
Investments in subsidiaries	5,376	4,651
Intercompany loans receivable	17	16
Other non-current assets	71	67
Total assets	6,028	5,582
Current liabilities:
Accounts payable	70	71
Intercompany payable	2,569	2,144
Accrued compensation and contributions to retirement plans	100	127
Short-term debt	309	143
Unearned revenue	272	254
Other current liabilities	150	191
Liabilities of businesses held for sale	83	80
Total current liabilities	3,553	3,010
Long-term debt	3,470	3,468
Intercompany loans payable	10	21
Pension and other postretirement benefits	209	230
Other non-current liabilities	(12)	(25)
Total liabilities	7,230	6,704
Redeemable noncontrolling interest (Note 8)	0	0
Equity:
Common stock	412	412
Additional paid-in capital	(233)	(184)
Retained income	6,961	6,701
Accumulated other comprehensive loss	(366)	(322)
Less: common stock in treasury	(7,976)	(7,729)
Total equity — controlling interests	(1,202)	(1,122)
Total equity - noncontrolling interests	0	0
Total equity	(1,202)	(1,122)
Total liabilities and equity	6,028	5,582
Standard & Poor's Financial Services LLC
Assets, Current [Abstract]
Cash and cash equivalents	0	0	0	0
Accounts receivable, net of allowance for doubtful accounts	170	319
Intercompany receivable	1,798	1,872
Deferred income taxes	10	10
Prepaid and other current assets	0	13
Assets of businesses held for sale	0	0
Total current assets	1,978	2,214
Property and equipment, net of accumulated depreciation	1	3
Goodwill	0	40
Other intangible assets, net	0	0
Investments in subsidiaries	662	659
Intercompany loans receivable	374	368
Other non-current assets	21	19
Total assets	3,036	3,303
Current liabilities:
Accounts payable	23	54
Intercompany payable	282	675
Accrued compensation and contributions to retirement plans	23	89
Short-term debt	0	0
Unearned revenue	205	586
Other current liabilities	(62)	65
Liabilities of businesses held for sale	0	0
Total current liabilities	471	1,469
Long-term debt	0	0
Intercompany loans payable	0	0
Pension and other postretirement benefits	0	0
Other non-current liabilities	84	98
Total liabilities	555	1,567
Redeemable noncontrolling interest (Note 8)	0	0
Equity:
Common stock	0	0
Additional paid-in capital	130	1,179
Retained income	2,345	557
Accumulated other comprehensive loss	6	0
Less: common stock in treasury	0	0
Total equity — controlling interests	2,481	1,736
Total equity - noncontrolling interests	0	0
Total equity	2,481	1,736
Total liabilities and equity	3,036	3,303
Non-Guarantor Subsidiaries
Assets, Current [Abstract]
Cash and cash equivalents	1,505	1,314	$ 1,189	$ 1,095
Accounts receivable, net of allowance for doubtful accounts	720	556
Intercompany receivable	1,160	1,273
Deferred income taxes	26	24
Prepaid and other current assets	94	80
Assets of businesses held for sale	552	499
Total current assets	4,057	3,746
Property and equipment, net of accumulated depreciation	118	126
Goodwill	2,874	2,816
Other intangible assets, net	1,483	1,522
Investments in subsidiaries	7,265	7,316
Intercompany loans receivable	1,834	1,733
Other non-current assets	133	127
Total assets	17,764	17,386
Current liabilities:
Accounts payable	85	81
Intercompany payable	148	535
Accrued compensation and contributions to retirement plans	142	167
Short-term debt	0	0
Unearned revenue	983	582
Other current liabilities	338	293
Liabilities of businesses held for sale	124	126
Total current liabilities	1,820	1,784
Long-term debt	0	0
Intercompany loans payable	2,215	2,096
Pension and other postretirement benefits	51	46
Other non-current liabilities	300	295
Total liabilities	4,386	4,221
Redeemable noncontrolling interest (Note 8)	0	0
Equity:
Common stock	2,336	2,337
Additional paid-in capital	11,224	10,174
Retained income	121	987
Accumulated other comprehensive loss	(293)	(322)
Less: common stock in treasury	(10)	(12)
Total equity — controlling interests	13,378	13,164
Total equity - noncontrolling interests	0	1
Total equity	13,378	13,165
Total liabilities and equity	$ 17,764	$ 17,386

Condensed Consolidating Finan58

Condensed Consolidating Financial Statements (Statement of Cash Flows) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income	$ 412	$ 381	$ 735	$ 711
Adjustments to reconcile net income to cash provided by (used for) operating activities from continuing operations:
Depreciation			40	43
Amortization of intangibles			47	23
Provision for losses on accounts receivable			8	4
Deferred income taxes			(4)	166
Stock-based compensation			34	37
Other			47	51
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable			(39)	(136)
Prepaid and other current assets			(21)	(24)
Accounts payable and accrued expenses			(212)	(257)
Unearned revenue			38	71
Accrued legal and regulatory settlements			(108)	(1,609)
Other current liabilities			(23)	(65)
Net change in prepaid/accrued income taxes			73	119
Net change in other assets and liabilities			(44)	(31)
Cash provided by (used for) operating activities from continuing operations			571	(897)
Investing Activities:
Capital expenditures			(36)	(42)
Acquisitions, net of cash acquired			(52)	(2)
Proceeds from dispositions			0	14
Changes in short-term investments			0	(7)
Cash used for investing activities from continuing operations			(88)	(37)
Financing Activities:
Additions to short-term debt, net			166	0
Proceeds from issuance of senior notes, net			0	690
Dividends paid to shareholders			(191)	(185)
Dividends and other payments paid to noncontrolling interests			(57)	(49)
Repurchase of treasury shares			(373)	(274)
Exercise of stock options			65	73
Excess tax benefits from share-based payments			19	38
Intercompany financing activities			0	0
Cash (used for) provided by financing activities from continuing operations			(371)	293
Effect of exchange rate changes on cash from continuing operations			(26)	(7)
Cash provided by (used for) continuing operations			86	(648)
Discontinued Operations:
Cash used for operating activities			0	(129)
Cash used for discontinued operations			0	(129)
Net change in cash and cash equivalents			86	(777)
Cash and cash equivalents at beginning of period			1,481	2,497
Cash and cash equivalents at end of period	1,567	1,720	1,567	1,720
Eliminations
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income	(830)	(406)	(2,122)	(837)
Adjustments to reconcile net income to cash provided by (used for) operating activities from continuing operations:
Depreciation			0	0
Amortization of intangibles			0	0
Provision for losses on accounts receivable			0	0
Deferred income taxes			0	0
Stock-based compensation			0	0
Other			0	0
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable			0	0
Prepaid and other current assets			0	0
Accounts payable and accrued expenses			0	0
Unearned revenue			0	0
Accrued legal and regulatory settlements			0	0
Other current liabilities			0	0
Net change in prepaid/accrued income taxes			0	0
Net change in other assets and liabilities			0	0
Cash provided by (used for) operating activities from continuing operations			(2,122)	(837)
Investing Activities:
Capital expenditures			0	0
Acquisitions, net of cash acquired			0	0
Proceeds from dispositions				0
Changes in short-term investments				0
Cash used for investing activities from continuing operations			0	0
Financing Activities:
Additions to short-term debt, net			0
Proceeds from issuance of senior notes, net				0
Dividends paid to shareholders			0	0
Dividends and other payments paid to noncontrolling interests			0	0
Repurchase of treasury shares			0	0
Exercise of stock options			0	0
Excess tax benefits from share-based payments			0	0
Intercompany financing activities			2,122	837
Cash (used for) provided by financing activities from continuing operations			2,122	837
Effect of exchange rate changes on cash from continuing operations			0	0
Cash provided by (used for) continuing operations				0
Discontinued Operations:
Cash used for operating activities				0
Cash used for discontinued operations				0
Net change in cash and cash equivalents			0	0
Cash and cash equivalents at beginning of period			0	0
Cash and cash equivalents at end of period	0	0	0	0
S&P Global Inc.
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income	597	364	1,391	696
Adjustments to reconcile net income to cash provided by (used for) operating activities from continuing operations:
Depreciation			19	19
Amortization of intangibles			0	2
Provision for losses on accounts receivable			1	0
Deferred income taxes			(4)	(138)
Stock-based compensation			10	11
Other			3	9
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable			(7)	1
Prepaid and other current assets			(28)	32
Accounts payable and accrued expenses			(67)	(99)
Unearned revenue			18	11
Accrued legal and regulatory settlements			0	0
Other current liabilities			(25)	(34)
Net change in prepaid/accrued income taxes			64	108
Net change in other assets and liabilities			(31)	62
Cash provided by (used for) operating activities from continuing operations			1,344	680
Investing Activities:
Capital expenditures			(16)	(18)
Acquisitions, net of cash acquired			(40)	0
Proceeds from dispositions				0
Changes in short-term investments				0
Cash used for investing activities from continuing operations			(56)	(18)
Financing Activities:
Additions to short-term debt, net			166
Proceeds from issuance of senior notes, net				690
Dividends paid to shareholders			(191)	(185)
Dividends and other payments paid to noncontrolling interests			0	0
Repurchase of treasury shares			(373)	(274)
Exercise of stock options			64	71
Excess tax benefits from share-based payments			19	38
Intercompany financing activities			(1,038)	(1,870)
Cash (used for) provided by financing activities from continuing operations			(1,353)	(1,530)
Effect of exchange rate changes on cash from continuing operations			(40)	(3)
Cash provided by (used for) continuing operations				(871)
Discontinued Operations:
Cash used for operating activities				0
Cash used for discontinued operations				0
Net change in cash and cash equivalents			(105)	(871)
Cash and cash equivalents at beginning of period			167	1,402
Cash and cash equivalents at end of period	62	531	62	531
Standard & Poor's Financial Services LLC
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income	254	223	440	487
Adjustments to reconcile net income to cash provided by (used for) operating activities from continuing operations:
Depreciation			5	10
Amortization of intangibles			0	0
Provision for losses on accounts receivable			1	(2)
Deferred income taxes			0	161
Stock-based compensation			7	11
Other			8	29
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable			148	(23)
Prepaid and other current assets			13	(3)
Accounts payable and accrued expenses			(98)	(43)
Unearned revenue			(375)	15
Accrued legal and regulatory settlements			(108)	(1,609)
Other current liabilities			(25)	(22)
Net change in prepaid/accrued income taxes			0	0
Net change in other assets and liabilities			27	3
Cash provided by (used for) operating activities from continuing operations			43	(986)
Investing Activities:
Capital expenditures			(7)	(4)
Acquisitions, net of cash acquired			0	0
Proceeds from dispositions				0
Changes in short-term investments				0
Cash used for investing activities from continuing operations			(7)	(4)
Financing Activities:
Additions to short-term debt, net			0
Proceeds from issuance of senior notes, net				0
Dividends paid to shareholders			0	0
Dividends and other payments paid to noncontrolling interests			0	0
Repurchase of treasury shares			0	0
Exercise of stock options			0	0
Excess tax benefits from share-based payments			0	0
Intercompany financing activities			(36)	990
Cash (used for) provided by financing activities from continuing operations			(36)	990
Effect of exchange rate changes on cash from continuing operations			0	0
Cash provided by (used for) continuing operations				0
Discontinued Operations:
Cash used for operating activities				0
Cash used for discontinued operations				0
Net change in cash and cash equivalents			0	0
Cash and cash equivalents at beginning of period			0	0
Cash and cash equivalents at end of period	0	0	0	0
Non-Guarantor Subsidiaries
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income	391	200	1,026	365
Adjustments to reconcile net income to cash provided by (used for) operating activities from continuing operations:
Depreciation			16	14
Amortization of intangibles			47	21
Provision for losses on accounts receivable			6	6
Deferred income taxes			0	143
Stock-based compensation			17	15
Other			36	13
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable			(180)	(114)
Prepaid and other current assets			(6)	(53)
Accounts payable and accrued expenses			(47)	(115)
Unearned revenue			395	45
Accrued legal and regulatory settlements			0	0
Other current liabilities			27	(9)
Net change in prepaid/accrued income taxes			9	11
Net change in other assets and liabilities			(40)	(96)
Cash provided by (used for) operating activities from continuing operations			1,306	246
Investing Activities:
Capital expenditures			(13)	(20)
Acquisitions, net of cash acquired			(12)	(2)
Proceeds from dispositions				14
Changes in short-term investments				(7)
Cash used for investing activities from continuing operations			(25)	(15)
Financing Activities:
Additions to short-term debt, net			0
Proceeds from issuance of senior notes, net				0
Dividends paid to shareholders			0	0
Dividends and other payments paid to noncontrolling interests			(57)	(49)
Repurchase of treasury shares			0	0
Exercise of stock options			1	2
Excess tax benefits from share-based payments			0	0
Intercompany financing activities			(1,048)	43
Cash (used for) provided by financing activities from continuing operations			(1,104)	(4)
Effect of exchange rate changes on cash from continuing operations			14	(4)
Cash provided by (used for) continuing operations				223
Discontinued Operations:
Cash used for operating activities				(129)
Cash used for discontinued operations				(129)
Net change in cash and cash equivalents			191	94
Cash and cash equivalents at beginning of period			1,314	1,095
Cash and cash equivalents at end of period	$ 1,505	$ 1,189	$ 1,505	$ 1,189