S&P Global (SPGI) 10-Q 3 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares shares in Millions	9 Months Ended
	Sep. 30, 2016	Oct. 21, 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	Sep. 30, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		259.1

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
Revenue	$ 1,439	$ 1,324	$ 4,262	$ 3,938
Expenses:
Operating-related expenses	438	419	1,363	1,241
Selling and general expenses	330	458	975	1,111
Depreciation	22	20	63	64
Amortization of intangibles	23	17	71	40
Total expenses	813	914	2,472	2,456
Gain on dispositions	(722)	0	(722)	(11)
Operating profit	1,348	410	2,512	1,493
Interest expense, net	39	30	122	62
Income before taxes on income	1,309	380	2,390	1,431
Provision for taxes on income	386	99	731	439
Net income	923	281	1,659	992
Less: net income attributable to noncontrolling interests	(31)	(29)	(90)	(83)
Net income	$ 892	$ 252	$ 1,569	$ 909
Net income:
Basic (in dollars per share)	$ 3.39	$ 0.93	$ 5.94	$ 3.33
Diluted (in dollars per share)	$ 3.36	$ 0.92	$ 5.89	$ 3.30
Weighted-average number of common shares outstanding:
Basic (in shares)	262.9	271.3	264.1	272.6
Diluted (in shares)	265.3	274.4	266.4	275.4
Actual shares outstanding at period end (in shares)			259.1	270.3
Dividend declared per common share (in dollars per share)	$ 0.36	$ 0.33	$ 1.08	$ 0.99

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 923	$ 281	$ 1,659	$ 992
Other comprehensive income:
Foreign currency translation adjustment	(14)	(45)	(55)	(78)
Income tax effect	3	1	3	0
Foreign currency translation adjustment, net of income tax effect	(11)	(44)	(52)	(78)
Pension and other postretirement benefit plans	3	5	19	59
Income tax effect	(1)	(1)	(5)	(19)
Pension and other post-retirement benefit plans, net of income tax effect	2	4	14	40
Unrealized gain (loss) on forward exchange contracts	1	(1)	4	(1)
Income tax effect	0	0	(1)	0
Unrealized gain (loss) on forward exchange contracts, net of income tax effect	1	(1)	3	(1)
Comprehensive income	915	240	1,624	953
Less: comprehensive income attributable to nonredeemable noncontrolling interests	(2)	(3)	(8)	(7)
Less: comprehensive income attributable to redeemable noncontrolling interests	(29)	(26)	(82)	(76)
Comprehensive income attributable to S&P Global Inc.	$ 884	$ 211	$ 1,534	$ 870

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 2,399	$ 1,481
Accounts receivable, net of allowance for doubtful accounts: 2016 - $32; 2015 - $37	980	991
Deferred income taxes	107	109
Prepaid and other current assets	152	212
Assets of businesses held for sale	66	503
Total current assets	3,704	3,296
Property and equipment, net of accumulated depreciation: 2016 - $533; 2015 - $585	255	270
Goodwill	2,958	2,882
Other intangible assets, net	1,518	1,522
Other non-current assets	241	213
Total assets	8,676	8,183
Current liabilities:
Accounts payable	199	206
Accrued compensation and contributions to retirement plans	315	383
Short-term debt	400	143
Unearned revenue	1,408	1,421
Income taxes currently payable	321	56
Other current liabilities	384	493
Liabilities of businesses held for sale	24	206
Total current liabilities	3,051	2,908
Long-term debt	3,563	3,468
Pension and other postretirement benefits	259	276
Other non-current liabilities	372	368
Total liabilities	7,245	7,020
Redeemable noncontrolling interest (Note 8)	920	920
Commitments and contingencies (Note 12)
Equity:
Common stock	412	412
Additional paid-in capital	367	475
Retained income	8,924	7,636
Accumulated other comprehensive loss	(635)	(600)
Less: common stock in treasury	(8,606)	(7,729)
Total equity — controlling interests	462	194
Total equity — noncontrolling interests	49	49
Total equity	511	243
Total liabilities and equity	$ 8,676	$ 8,183

Consolidated Balance Sheets (U5

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 32	$ 37
Property and equipment, accumulated depreciation	$ 533	$ 585

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Operating Activities:
Net income	$ 1,659	$ 992
Adjustments to reconcile net income to cash provided by (used for) operating activities from continuing operations:
Depreciation	63	64
Amortization of intangibles	71	40
Provision for losses on accounts receivable	10	3
Deferred income taxes	(8)	166
Stock-based compensation	54	55
Gain on dispositions	(722)	(11)
Other	56	150
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable	(26)	(44)
Prepaid and other current assets	(2)	(6)
Accounts payable and accrued expenses	(127)	(186)
Unearned revenue	(6)	18
Accrued legal and regulatory settlements	(134)	(1,624)
Other current liabilities	(12)	(53)
Net change in prepaid/accrued income taxes	352	140
Net change in other assets and liabilities	(57)	(60)
Cash provided by (used for) operating activities from continuing operations	1,171	(356)
Investing Activities:
Capital expenditures	(67)	(74)
Acquisitions, net of cash acquired	(145)	(2,393)
Proceeds from dispositions	1,071	14
Changes in short-term investments	(1)	(3)
Cash provided by (used for) investing activities from continuing operations	858	(2,456)
Financing Activities:
Payments on short-term debt, net	(143)	0
Proceeds from issuance of senior notes, net	493	2,674
Dividends paid to shareholders	(286)	(274)
Dividends and other payments paid to noncontrolling interests	(59)	(67)
Contingent consideration payments	(15)	(5)
Purchase of CRISIL shares	0	(16)
Repurchase of treasury shares	(1,123)	(501)
Exercise of stock options	84	77
Excess tax benefits from share-based payments	31	39
Cash (used for) provided by financing activities from continuing operations	(1,018)	1,927
Effect of exchange rate changes on cash from continuing operations	(93)	(42)
Cash provided by (used for) continuing operations	918	(927)
Discontinued Operations:
Cash used for operating activities	0	(129)
Cash used for discontinued operations	0	(129)
Net change in cash and cash equivalents	918	(1,056)
Cash and cash equivalents at beginning of period	1,481	2,497
Cash and cash equivalents at end of period	$ 2,399	$ 1,441

Consolidated Statement of Equit

Consolidated Statement of Equity (Unaudited) - 9 months ended Sep. 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]	1,542			1,569	(35)		1,534	8
Dividends		(295)			(287)			(287)	(8)
Share repurchases		(1,097)		(98)			999	(1,097)
Employee stock plans, net of tax benefit		112		(10)			(122)	112
Change in redemption value of redeemable noncontrolling interest		6			6			6
Balance as of September 30, 2016 at Sep. 30, 2016		511	$ 412	$ 367	$ 8,924	$ (635)	$ 8,606	$ 462	$ 49
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to noncontrolling interest		$ 82
[1]	Excludes $82 million attributable to our redeemable noncontrolling interest.

Consolidated Statement of Equi8

Consolidated Statement of Equity (Unaudited) (Parenthetical)	Sep. 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	9 Months Ended
	Sep. 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 is the leading independent provider of information and benchmark prices for the commodities and energy markets. As of September 7, 2016, we completed the sale of J.D. Power and the results are included in S&P Global Platts through that date. 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 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. As a result, we classified the assets and liabilities of SPSE and CMA as held for sale in our consolidated balance sheet as of September 30, 2016. In October of 2016, we completed the sale of SPSE and CMA to Intercontinental Exchange, an operator of global exchanges, clearing houses and data services. In September of 2016, we completed the sale of 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. 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 were classified as held for sale in our consolidated balance sheet as of December 31, 2015. During three and nine months ended September 30, 2016, we recorded a pre-tax gain of $722 million ( $521 million after-tax) in gain on dispositions in the consolidated statement of income related to the sale of J.D. Power. Following the sale, the assets and liabilities of J.D. Power are no longer reported in our consolidated balance sheet as of September 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 nine months ended September 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	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures Acquisitions Acquisitions by segment included: S&P Dow Jones Indices • In October of 2016, S&P Dow Jones Indices acquired Trucost plc, a leader in carbon and environmental data and risk analysis through its subsidiary S&P Global Indices UK Limited. The purchase will build on S&P Dow Jones Indices current portfolio of Environmental, Social and Governance solutions. The acquisition of Trucost plc is not material to our consolidated financial statements. S&P Global Platts • In September of 2016, S&P Global Platts acquired PIRA Energy Group ("PIRA"), a global provider of energy research and forecasting products and services. The purchase enhances S&P Global Platts' energy analytical capabilities by expanding its oil offering and strengthening its position in the natural gas and power markets. We accounted for the acquisition of PIRA using the purchase method of accounting. The acquisition of PIRA is not material to our consolidated financial statements. • In June of 2016, S&P Global Platts acquired RigData, a provider of daily information on rig activity for the natural gas and oil markets across North America. The purchase enhances S&P Global 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, S&P Global 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. • In July of 2015, we acquired the entire issued share capital of Petromedia Ltd and its operating subsidiaries (“Petromedia”), an independent provider of data, intelligence, news and tools to the global fuels market that offers a suite of products providing clients with actionable data and intelligence that enable informed decisions, minimize risk and increase efficiency. We accounted for the acquisition of Petromedia using the purchase method of accounting. The acquisition of Petromedia is not material to our consolidated financial statements. 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 Market Intelligence • In September of 2015, we acquired SNL Financial LC ("SNL") for $2.2 billion . SNL is a global provider of news, data, and analytical tools to five sectors in the global economy: financial services, real estate, energy, media & communications, and metals & mining. SNL delivers information through its suite of web, mobile and direct data feed platforms that helps clients, including investment and commercial banks, investors, corporations, and regulators make decisions, improve efficiency, and manage risk. Divestitures 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. As a result, we classified the assets and liabilities of SPSE and CMA as held for sale in our consolidated balance sheet as of September 30, 2016. In October of 2016, we completed the sale of SPSE and CMA to Intercontinental Exchange, an operator of global exchanges, clearing houses and data services. In September of 2016, we completed the sale of 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. 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 were classified as held for sale in our consolidated balance sheet as of December 31, 2015. During the three and nine months ended September 30, 2016, we recorded a pre-tax gain of $722 million ( $521 million after-tax) in gain on dispositions in the consolidated statement of income related to the sale of J.D. Power. Following the sale, the assets and liabilities of J.D. Power are no longer reported in our consolidated balance sheet as of September 30, 2016. During the nine months ended September 30, 2015, we recorded a pre-tax gain of $11 million in gain on dispositions in the consolidated statement of income related to the sale of our interest in a legacy McGraw Hill Construction investment. The components of assets and liabilities of businesses held for sale in the consolidated balance sheets consist of the following: (in millions) September 30, December 31, 2016 2015 Accounts receivable, net $ 23 $ 58 Goodwill 38 75 Other intangible assets, net 3 335 Other assets 2 35 Assets of businesses held for sale $ 66 $ 503 Accounts payable and accrued expenses $ 4 $ 42 Unearned revenue 18 64 Other liabilities 2 100 Liabilities of businesses held for sale $ 24 $ 206 The operating profit of our businesses that were disposed of or held for sale for the periods ended September 30, 2016 and 2015 is as follows: (in millions) Three Months Nine Months 2016 2015 2016 2015 Operating profit 1 $ 37 $ 33 $ 88 $ 84 1 The three and nine months ended September 30, 2016 exclude a pre-tax gain on the sale of J.D. Power of $722 million .

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective income tax rate was 29.5% and 25.9% for the three months ended September 30, 2016 and September 30, 2015, respectively. The increase was due to the favorable resolution of tax audits in 2015, partially offset by a lower effective tax rate on the disposition of J.D. Power in 2016. The effective tax rate was 30.6% and 30.7% for the nine months ended September 30, 2016 and September 30, 2015, respectively. 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 September 30, 2016 and December 31, 2015 , the total amount of federal, state and local, and foreign unrecognized tax benefits was $121 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 September 30, 2016 and December 31, 2015 , we had $40 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	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Debt	Debt (in millions) September 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 4 691 690 4.4% Senior Notes, due 2026 5 891 890 2.95% Senior Notes, due 2027 6 492 — 6.55% Senior Notes, due 2037 7 396 396 Commercial paper — 143 Total debt 3,963 3,611 Less: short-term debt including current maturities 1 400 143 Long-term debt $ 3,563 $ 3,468 1 Interest payments are due semiannually on April 15 and October 15, and as of September 30, 2016 , the unamortized debt discount and issuance costs are less than $1 million . We made a $400 million early repayment of our 5.9% senior notes on October 20, 2016. 2 Interest payments are due semiannually on February 15 and August 15, and as of September 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 September 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 September 30, 2016 , the unamortized debt discount and issuance costs total $9 million . 5 Interest payments are due semiannually on February 15 and August 15, and as of September 30, 2016 , the unamortized debt discount and issuance costs total $9 million . 6 Interest payments are due semiannually on January 22 and July 22, beginning on January 22, 2017, and as of September 30, 2016 , the unamortized debt discount and issuance costs total $8 million . 7 Interest payments are due semiannually on May 15 and November 15, and as of September 30, 2016 , the unamortized debt discount and issuance costs total $4 million . The fair value of our long-term debt borrowings was $4.3 billion and $3.6 billion as of September 30, 2016 and December 31, 2015 , respectively, and was estimated based on quoted market prices. On September 22, 2016, we issued $500 million of 2.95% senior notes due in 2027. The notes are fully and unconditionally guaranteed by our wholly-owned subsidiary, Standard & Poor's Financial Services LLC. We used the net proceeds to fund the $400 million early repayment of our 5.9% senior notes due in 2017 on October 20, 2016, and intend to use the balance for general corporate purposes. 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. There were no commercial paper borrowings outstanding as of September 30, 2016 . Commercial paper borrowings outstanding as of December 31, 2015 totaled $143 million with an average interest rate and term of 0.95% and 17 days , respectively. 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	9 Months Ended
	Sep. 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 September 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 September 30, 2016, we estimate that $2 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 nine months ended September 30, 2016. As of September 30, 2016 and September 30, 2015 , the aggregate notional value of our outstanding foreign currency forward contracts was $78 million and $59 million , respectively. The following table provides information on the location and fair value amounts of our cash flow hedges as of September 30, 2016 and December 31, 2015 : (in millions) Balance Sheet Location September 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 September 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 $ — Selling and general expenses $ 1 $ — Nine 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 $ 3 $ — Selling and general expenses $ 3 $ — The activity related to the change in unrealized gains (losses) in accumulated other comprehensive loss was as follows for the periods ended September 30 : (in millions) Three Months Nine Months 2016 2015 2016 2015 Net unrealized gains (losses) on cash flow hedges, net of taxes, beginning of period $ 1 $ (1 ) $ (1 ) $ (1 ) Change in fair value, net of tax 2 — 6 — Reclassification into earnings, net of tax (1 ) — (3 ) — Net unrealized gains (losses) on cash flow hedges, net of taxes, end of period $ 2 $ (1 ) $ 2 $ (1 )

Employee Benefits

Employee Benefits	9 Months Ended
	Sep. 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 September 30 are as follows: Retirement Plans (in millions) Three Months Nine Months 2016 2015 2016 2015 Service cost $ 1 $ 2 $ 2 $ 4 Interest cost 19 24 59 72 Expected return on plan assets (30 ) (32 ) (92 ) (95 ) Amortization of actuarial loss 4 5 12 15 Net periodic benefit (credit) cost $ (6 ) $ (1 ) $ (19 ) $ (4 ) Postretirement Plans (in millions) Three Months Nine Months 2016 2015 2016 2015 Interest cost 1 1 2 2 Amortization of prior service credit / actuarial gain (1 ) — (1 ) — Net periodic benefit (credit) cost $ — $ 1 $ 1 $ 2 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 nine months ended September 30, 2016 resulted in a decrease in net periodic benefit cost of approximately $5 million and $15 million , respectively. In the first nine months of 2016 , we contributed $6 million to our retirement plans and expect to make additional required contributions of approximately $2 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 fourth quarter of 2016 .

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 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 September 30 is as follows: (in millions) Three Months Nine Months 2016 2015 2016 2015 Stock option expense 1 $ 2 $ 2 $ 6 $ 11 Restricted stock and unit awards expense 18 16 48 44 Total stock-based compensation expense $ 20 $ 18 $ 54 $ 55 1 There were a minimal amount of stock options granted in 2015. During 2015, the Company stopped granting stock options. During the nine months ended September 30, 2016 , the Company granted 0.6 million shares of restricted stock and unit awards, which had a weighted average grant date fair value of $100.31 per share. Total unrecognized compensation expense related to unvested restricted stock and unit awards as of September 30, 2016 was $65 million , which is expected to be recognized over a weighted average period of 1.8 years .

Equity

Equity	9 Months Ended
	Sep. 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 September 30 were as follows: (in millions, except average price) Three Months Nine Months 2016 2015 2016 2015 Total number of shares purchased 1 5.3 2.3 8.8 4.9 Average price paid per share 2 $ — $ 99.01 $ 98.05 $ 102.01 Total cash utilized 3 $ 750 $ 227 $ 1,097 $ 501 1 The three and nine months ended September 30, 2016 include shares received as part of our accelerated share repurchase agreement described in more detail below. 2 Average price paid per share information does not include the accelerated share repurchase transaction as discussed in more detail below. 3 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 nine months ended September 30, 2016 resulting in $1,123 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 September 30, 2016 , approximately 26.6 million shares remained available under the current share repurchase program which has no expiration date and purchases under this program may be made from time to time on the open market and in private transactions, depending on market conditions. Accelerated Share Repurchase Program Using a portion of the proceeds received from the sale of J.D. Power, we entered into an accelerated share repurchase ("ASR") agreement with a financial institution on September 7, 2016 to initiate share repurchases aggregating $750 million . The ASR agreement was structured as a capped ASR agreement in which we paid $750 million and received an initial delivery of approximately 4.4 million shares and an additional amount of 0.9 million shares during the month of September 2016, representing the minimum number of shares of our common stock to be repurchased based on a calculation using a specified capped price per share. The total number of shares to be repurchased under the ASR agreement will be based on the volume weighted-average share price, minus a discount, of our common stock over the term of the ASR agreement. This price is capped such that only under limited circumstances will we be required to deliver shares or, at our election, pay cash at settlement. Additionally, depending on the average share price through the completion date, we may receive additional shares under the ASR agreement. The final settlement of the transaction under the ASR agreement is expected to be completed no later than the first quarter of 2017. The ASR agreement was executed under the current share repurchase program, approved on December 4, 2013. 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 nine months ended September 30, 2016 were as follows: (in millions) Balance as of December 31, 2015 $ 920 Net income attributable to noncontrolling interest 82 Distributions payable to noncontrolling interest (76 ) Redemption value adjustment (6 ) Balance as of September 30, 2016 $ 920 Accumulated Other Comprehensive Loss The following table summarizes the changes in the components of accumulated other comprehensive loss for the nine months ended September 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 (52 ) 7 6 (39 ) Reclassifications from accumulated other comprehensive loss to net earnings — 7 1 (3 ) 2 4 Net other comprehensive income (52 ) 14 3 (35 ) Balance as of September 30, 2016 $ (245 ) $ (392 ) $ 2 $ (635 ) 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 $4 million for the nine months ended September 30, 2016 .

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 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 September 30 is as follows: (in millions, except per share amounts) Three Months Nine Months 2016 2015 2016 2015 Amounts attributable to S&P Global Inc. common shareholders: Net income $ 892 $ 252 $ 1,569 $ 909 Basic weighted-average number of common shares outstanding 262.9 271.3 264.1 272.6 Effect of stock options and other dilutive securities 2.4 3.1 2.3 2.8 Diluted weighted-average number of common shares outstanding 265.3 274.4 266.4 275.4 Earnings per share attributable to S&P Global Inc. common shareholders: Net income: Basic $ 3.39 $ 0.93 $ 5.94 $ 3.33 Diluted $ 3.36 $ 0.92 $ 5.89 $ 3.30 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 nine months ended September 30, 2016 and 2015 , there were no stock options excluded. Restricted performance shares outstanding of 0.7 million and 0.9 million as of September 30, 2016 and 2015 , respectively, were excluded.

Restructuring

Restructuring	9 Months Ended
	Sep. 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 100 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 September 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 $ 5 $ 18 $ 7 S&P Global Market Intelligence 1 1 31 10 S&P Global Platts 6 5 3 — Corporate 2 2 11 6 Total $ 17 $ 13 $ 63 $ 23 We recorded a pre-tax restructuring charge of $17 million for the 2016 restructuring plan during the nine months ended September 30, 2016 and have reduced the reserve for the 2016 restructuring plan by $4 million . The ending reserve balance for the 2015 restructuring plan was $50 million as of December 31, 2015. For the nine months ended September 30, 2016 , we have reduced the reserve for the 2015 restructuring plan by $27 million .

Segment and Related Information

Segment and Related Information	9 Months Ended
	Sep. 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. Changes to Organizational Structure The segment amounts and discussions included in this Form 10-Q reflect the reportable segments that existed through the end of the third quarter of 2016. Effective beginning with the fourth quarter of 2016, we realigned certain of our reportable segments to be consistent with changes to our organizational structure and how our Chief Executive Officer will evaluate the performance of these segments. As a result, as of the beginning of the fourth quarter of 2016, S&P Global Market Intelligence and S&P Global Platts will be combined into a single reportable segment, Market and Commodities Intelligence. These changes do not impact the constituent components of our S&P Global Ratings and S&P DJ Indices reportable segments. We will begin reporting the financial results of the combined segment in our Form 10-K for the year ended December 31, 2016. A summary of operating results by segment for the periods ended September 30 is as follows: Three Months 2016 2015 (in millions) Revenue Operating Profit Revenue Operating Profit S&P Global Ratings 1 $ 642 $ 346 $ 587 $ 194 S&P Global Market Intelligence 2 429 112 356 53 S&P DJ Indices 3 164 107 156 106 S&P Global Platts 4 229 812 248 93 Intersegment elimination 5 (25 ) — (23 ) — Total operating segments 1,439 1,377 1,324 446 Unallocated expense — (29 ) — (36 ) Total $ 1,439 $ 1,348 $ 1,324 $ 410 Nine Months 2016 2015 (in millions) Revenue Operating Profit Revenue Operating Profit S&P Global Ratings 1 $ 1,877 $ 1,004 $ 1,851 $ 846 S&P Global Market Intelligence 2 1,252 285 1,000 178 S&P DJ Indices 3 468 308 446 297 S&P Global Platts 4 738 1,008 707 265 Intersegment elimination 5 (73 ) — (66 ) — Total operating segments 4,262 2,605 3,938 1,586 Unallocated expense 6 — (93 ) — (93 ) Total $ 4,262 $ 2,512 $ 3,938 $ 1,493 1 Operating profit for the three and nine months ended September 30, 2016 primarily includes a benefit related to net legal settlement insurance recoveries of $17 million and $63 million , respectively. Operating profit for the three and nine months ended September 30, 2015 includes legal settlement charges partially offset by a benefit related to legal settlement insurance recoveries of $86 million and $40 million , respectively. Additionally, the nine months ended September 30, 2016 and 2015 include 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 September 30, 2016 and 2015 and $4 million for the nine months ended September 30, 2016 and 2015. 2 Operating profit for the three and nine months ended September 30, 2016 includes disposition-related costs of $5 million and $12 million , respectively, and an acquisition-related cost of $1 million . Operating profit for the nine months ended September 30, 2016 includes a technology related impairment charge of $24 million . Operating profit for the three and nine months ended September 30, 2015 include acquisition-related costs related to the acquisition of SNL of $32 million , and the nine months ended September 30, 2015 include restructuring charges of $12 million . Operating profit also includes amortization of intangibles from acquisitions of $18 million and $54 million for the three and nine months ended September 30, 2016 , respectively, and $10 million and $21 million for the three and nine months ended September 30, 2015 , respectively. 3 Operating profit includes amortization of intangibles from acquisitions of $1 million for the three months ended September 30, 2016 and 2015 and $4 million for the nine months ended September 30, 2016 and 2015. 4 As of September 7, 2016, we completed the sale of J.D. Power and the results are included in S&P Global Platts results through that date. Operating profit for the three and nine months ended September 30, 2016 includes a gain on the sale of J.D. Power of $722 million . Additionally, disposition-related costs of $1 million and $5 million are included for the three and nine months ended September 30, 2016, respectively. Operating profit for the nine months ended September 31, 2015 includes restructuring charges of $1 million . Operating profit also includes amortization of intangibles from acquisitions of $3 million and $9 million for the three and nine months ended September 30, 2016, respectively, and $5 million and $11 million for the three and nine months ended September 30, 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 nine months ended September 30, 2016 include $3 million from a disposition-related reserve release. The nine months ended September 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 are included for the nine months ended September 30, 2015. The following provides revenue by geographic region for the periods ended September 30 : (in millions) Three Months Nine Months 2016 2015 2016 2015 U.S. $ 885 $ 810 $ 2,635 $ 2,385 European region 335 311 971 927 Asia 145 137 438 416 Rest of the world 74 66 218 210 Total $ 1,439 $ 1,324 $ 4,262 $ 3,938 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	9 Months Ended
	Sep. 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 nine months ended September 30, 2016 , S&P Dow Jones Indices LLC earned $18 million and $58 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 and its 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 certain of 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 primarily 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 briefs in January of 2016. In January of 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 briefs in July of 2016. The court notified the parties in August of 2016 that it will be issuing written decisions on the outstanding motions to dismiss without oral argument.

Recently Issued or Adopted Acco

Recently Issued or Adopted Accounting Standards	9 Months Ended
	Sep. 30, 2016
Accounting Changes and Error Corrections [Abstract]
Recently Issued or Adopted Accounting Standards	Recently Issued or Adopted Accounting Standards In August of 2016, the Financial Accounting Standards Board ("FASB") issued guidance providing amendments to eight specific statement of cash flows classification issues. The guidance is effective for reporting periods beginning after December 15, 2017; however, early adoption is permitted. We do not expect this guidance to have a significant impact on our consolidated financial statements. In March of 2016, the 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 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 effective 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 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 ending 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	9 Months Ended
	Sep. 30, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Financial Statements	Condensed Consolidating Financial Statements On September 22, 2016, we issued $500 million of 2.95% senior notes due in 2027. See Note 4 — Debt for additional information. 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 September 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 $ 175 $ 383 $ 914 $ (33 ) $ 1,439 Expenses: Operating-related expenses 27 111 333 (33 ) 438 Selling and general expenses 45 49 236 — 330 Depreciation 8 2 12 — 22 Amortization of intangibles — — 23 — 23 Total expenses 80 162 604 (33 ) 813 Gain on dispositions (705 ) — (17 ) — (722 ) Operating profit 800 221 327 — 1,348 Interest expense (income), net 43 — (4 ) — 39 Non-operating intercompany transactions 14 (21 ) (41 ) 48 — Income before taxes on income 743 242 372 (48 ) 1,309 Provision for taxes on income 184 95 107 — 386 Equity in net income of subsidiaries 457 76 — (533 ) — Net income $ 1,016 $ 223 $ 265 $ (581 ) $ 923 Less: net income attributable to noncontrolling interests — — — (31 ) (31 ) Net income attributable to S&P Global Inc. $ 1,016 $ 223 $ 265 $ (612 ) $ 892 Comprehensive income $ 1,069 $ 216 $ 191 $ (561 ) $ 915 Statement of Income Nine Months Ended September 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 $ 516 $ 1,138 $ 2,703 $ (95 ) $ 4,262 Expenses: Operating-related expenses 78 342 1,038 (95 ) 1,363 Selling and general expenses 95 145 735 — 975 Depreciation 28 7 28 — 63 Amortization of intangibles — — 71 — 71 Total expenses 201 494 1,872 (95 ) 2,472 Gain on dispositions (705 ) — (17 ) — (722 ) Operating profit 1,020 644 848 — 2,512 Interest expense (income), net 129 — (7 ) — 122 Non-operating intercompany transactions 249 (62 ) (739 ) 552 — Income before taxes on income 642 706 1,594 (552 ) 2,390 Provision for taxes on income 166 263 302 — 731 Equity in net income of subsidiaries 1,865 220 — (2,085 ) — Net income $ 2,341 $ 663 $ 1,292 $ (2,637 ) $ 1,659 Less: net income attributable to noncontrolling interests — — — (90 ) (90 ) Net income attributable to S&P Global Inc. $ 2,341 $ 663 $ 1,292 $ (2,727 ) $ 1,569 Comprehensive income $ 2,351 $ 662 $ 1,247 $ (2,636 ) $ 1,624 Statement of Income Three Months Ended September 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 $ 165 $ 523 $ 665 $ (29 ) $ 1,324 Expenses: Operating-related expenses 26 167 255 (29 ) 419 Selling and general expenses 200 1 257 — 458 Depreciation 9 4 7 — 20 Amortization of intangibles — — 17 — 17 Total expenses 235 172 536 (29 ) 914 Operating (loss) profit (70 ) 351 129 — 410 Interest expense (income), net 32 — (2 ) — 30 Non-operating intercompany transactions 51 48 (99 ) — — (Loss) income before taxes on income (153 ) 303 230 — 380 (Benefit) provision for taxes on income (74 ) 100 73 — 99 Equity in net income of subsidiaries 1,180 206 — (1,386 ) — Net income $ 1,101 $ 409 $ 157 $ (1,386 ) $ 281 Less: net income attributable to noncontrolling interests — — — (29 ) (29 ) Net income attributable to S&P Global Inc. $ 1,101 $ 409 $ 157 $ (1,415 ) $ 252 Comprehensive income $ 1,095 $ 408 $ 123 $ (1,386 ) $ 240 Statement of Income Nine Months Ended September 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 $ 481 $ 1,640 $ 1,902 $ (85 ) $ 3,938 Expenses: Operating-related expenses 87 546 693 (85 ) 1,241 Selling and general expenses 259 93 759 — 1,111 Depreciation 29 14 21 — 64 Amortization of intangibles — — 40 — 40 Total expenses 375 653 1,513 (85 ) 2,456 Gain on dispositions — — (11 ) — (11 ) Operating profit 106 987 400 — 1,493 Interest expense (income), net 69 — (7 ) — 62 Non-operating intercompany transactions 180 139 (319 ) — — (Loss) income before taxes on income (143 ) 848 726 — 1,431 (Benefit) provision for taxes on income (57 ) 291 205 — 439 Equity in net income of subsidiaries 1,180 205 — (1,385 ) — Net income $ 1,094 $ 762 $ 521 $ (1,385 ) $ 992 Less: net income attributable to noncontrolling interests — — — (83 ) (83 ) Net income attributable to S&P Global Inc. $ 1,094 $ 762 $ 521 $ (1,468 ) $ 909 Comprehensive income $ 1,102 $ 761 $ 480 $ (1,390 ) $ 953 Balance Sheet September 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 $ 738 $ — $ 1,661 $ — $ 2,399 Accounts receivable, net of allowance for doubtful accounts 108 160 712 980 Intercompany receivable 346 397 836 (1,579 ) — Deferred income taxes 74 10 23 — 107 Prepaid and other current assets 75 — 77 — 152 Assets of businesses held for sale 1 — 65 — 66 Total current assets 1,342 567 3,374 (1,579 ) 3,704 Property and equipment, net of accumulated depreciation 138 1 116 — 255 Goodwill 182 — 2,767 9 2,958 Other intangible assets, net — — 1,518 — 1,518 Investments in subsidiaries 5,232 672 7,316 (13,220 ) — Intercompany loans receivable 18 — 1,842 (1,860 ) — Other non-current assets 85 23 133 — 241 Total assets $ 6,997 $ 1,263 $ 17,066 $ (16,650 ) $ 8,676 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 71 $ 23 $ 105 $ — $ 199 Intercompany payable 1,492 (22 ) 109 (1,579 ) — Accrued compensation and contributions to retirement plans 108 41 166 — 315 Short-term debt 400 — — — 400 Unearned revenue 274 202 932 — 1,408 Income taxes currently payable 236 — 85 — 321 Other current liabilities 166 (133 ) 351 — 384 Liabilities of businesses held for sale 1 — 23 — 24 Total current liabilities 2,748 111 1,771 (1,579 ) 3,051 Long-term debt 3,563 — — — 3,563 Intercompany loans payable 11 — 1,849 (1,860 ) — Pension and postretirement benefits 208 — 51 — 259 Other non-current liabilities (14 ) 85 301 — 372 Total liabilities 6,516 196 3,972 (3,439 ) 7,245 Redeemable noncontrolling interest — — — 920 920 Equity: Common stock 412 — 2,336 (2,336 ) 412 Additional paid-in capital (300 ) 1,148 10,132 (10,613 ) 367 Retained income 9,288 (81 ) 1,003 (1,286 ) 8,924 Accumulated other comprehensive loss (313 ) — (367 ) 45 (635 ) Less: common stock in treasury (8,606 ) (10 ) 10 (8,606 ) Total equity - controlling interests 481 1,067 13,094 (14,180 ) 462 Total equity - noncontrolling interests — — — 49 49 Total equity 481 1,067 13,094 (14,131 ) 511 Total liabilities and equity $ 6,997 $ 1,263 $ 17,066 $ (16,650 ) $ 8,676 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 Income taxes currently payable 1 — 55 — 56 Other current liabilities 190 65 238 — 493 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 Nine Months Ended September 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 $ 2,341 $ 663 $ 1,292 $ (2,637 ) $ 1,659 Adjustments to reconcile net income to cash provided by operating activities from continuing operations: Depreciation 28 7 28 — 63 Amortization of intangibles — — 71 — 71 Provision for losses on accounts receivable 2 — 8 — 10 Deferred income taxes (80 ) — 72 — (8 ) Stock-based compensation 17 12 25 — 54 Gain on dispositions (705 ) — (17 ) — (722 ) Other 14 3 39 — 56 Changes in operating assets and liabilities, net of effect of acquisitions and dispositions: Accounts receivable 5 159 (190 ) — (26 ) Prepaid and other current assets (14 ) 13 (1 ) — (2 ) Accounts payable and accrued expenses (70 ) (147 ) 90 — (127 ) Unearned revenue 20 (385 ) 359 — (6 ) Accrued legal and regulatory settlements — (108 ) (26 ) — (134 ) Other current liabilities (17 ) (25 ) 30 — (12 ) Net change in prepaid/accrued income taxes 297 — 55 — 352 Net change in other assets and liabilities (35 ) 29 (51 ) — (57 ) Cash provided by operating activities from continuing operations 1,803 221 1,784 (2,637 ) 1,171 Investing Activities: Capital expenditures (34 ) (11 ) (22 ) — (67 ) Acquisitions, net of cash acquired (140 ) — (5 ) — (145 ) Proceeds from dispositions 1,047 — 24 — 1,071 Changes in short-term investments — — (1 ) — (1 ) Cash provided by (used for) investing activities from continuing operations 873 (11 ) (4 ) — 858 Financing Activities: Payments on short-term debt, net (143 ) — — — (143 ) Proceeds from issuance of senior notes, net 493 — — — 493 Dividends paid to shareholders (286 ) — — — (286 ) Dividends and other payments paid to noncontrolling interests — — (59 ) — (59 ) Contingent consideration payments (5 ) — (10 ) — (15 ) Repurchase of treasury shares (1,123 ) — — — (1,123 ) Exercise of stock options 83 — 1 — 84 Excess tax benefits from share-based payments 31 — — — 31 Intercompany financing activities (1,155 ) (210 ) (1,272 ) 2,637 — Cash used for financing activities from continuing operations (2,105 ) (210 ) (1,340 ) 2,637 (1,018 ) Effect of exchange rate changes on cash from continuing operations — — (93 ) — (93 ) Net change in cash and cash equivalents 571 — 347 — 918 Cash and cash equivalents at beginning of period 167 — 1,314 — 1,481 Cash and cash equivalents at end of period $ 738 $ — $ 1,661 $ — $ 2,399 Statement of Cash Flows Nine Months Ended September 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 $ 1,094 $ 762 $ 521 $ (1,385 ) $ 992 Adjustments to reconcile net income to cash provided by (used for) operating activities from continuing operations: Depreciation 29 14 21 — 64 Amortization of intangibles — — 40 — 40 Provision for losses on accounts receivable — (4 ) 7 — 3 Deferred income taxes (139 ) 161 144 — 166 Stock-based compensation 16 16 23 — 55 Gain on dispositions — — (11 ) — (11 ) Other 107 22 21 — 150 Changes in operating assets and liabilities, net of effect of acquisitions and dispositions: Accounts receivable 10 16 (70 ) — (44 ) Prepaid and other current assets (35 ) 22 7 — (6 ) Accounts payable and accrued expenses (100 ) (76 ) (10 ) — (186 ) Unearned revenue 10 (20 ) 28 — 18 Accrued legal and regulatory settlements — (1,624 ) — — (1,624 ) Other current liabilities (19 ) (12 ) (22 ) — (53 ) Net change in prepaid/accrued income taxes 166 — (26 ) — 140 Net change in other assets and liabilities 91 4 (155 ) — (60 ) Cash provided by (used for) operating activities from continuing operations 1,230 (719 ) 518 (1,385 ) (356 ) Investing Activities: Capital expenditures (38 ) (7 ) (29 ) — (74 ) Acquisitions, net of cash acquired (2,241 ) — (152 ) — (2,393 ) Proceeds from dispositions — — 14 — 14 Changes in short-term investments — — (3 ) — (3 ) Cash used for investing activities from continuing operations (2,279 ) (7 ) (170 ) — (2,456 ) Financing Activities: Proceeds from issuance of senior notes, net 2,674 — — — 2,674 Dividends paid to shareholders (274 ) — — — (274 ) Dividends and other payments paid to noncontrolling interests — — (67 ) — (67 ) Contingent consideration payments (5 ) — — — (5 ) Purchase of CRISIL shares — — (16 ) — (16 ) Repurchase of treasury shares (501 ) — — — (501 ) Exercise of stock options 76 — 1 — 77 Excess tax benefits from share-based payments 39 — — — 39 Intercompany financing activities (2,192 ) 727 80 1,385 — Cash (used for) provided by financing activities from continuing operations (183 ) 727 (2 ) 1,385 1,927 Effect of exchange rate changes on cash from continuing operations (9 ) — (33 ) — (42 ) Cash (used for) provided by continuing operations (1,241 ) 1 313 — (927 ) Discontinued Operations: Cash used for operating activities — — (129 ) — (129 ) Cash used for discontinued operations — — (129 ) — (129 ) Net change in cash and cash equivalents (1,241 ) 1 184 — (1,056 ) Cash and cash equivalents at beginning of period 1,402 — 1,095 — 2,497 Cash and cash equivalents at end of period $ 161 $ 1 $ 1,279 $ — $ 1,441

Recently Issued or Adopted Ac23

Recently Issued or Adopted Accounting Standards Recently Issued or Adopted Accounting Standards (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Changes and Error Corrections [Abstract]
Recently Issued or Adopted Accounting Standards	Recently Issued or Adopted Accounting Standards In August of 2016, the Financial Accounting Standards Board ("FASB") issued guidance providing amendments to eight specific statement of cash flows classification issues. The guidance is effective for reporting periods beginning after December 15, 2017; however, early adoption is permitted. We do not expect this guidance to have a significant impact on our consolidated financial statements. In March of 2016, the 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 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 effective 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 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 ending 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.

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	9 Months Ended
	Sep. 30, 2016
Business Combinations [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) September 30, December 31, 2016 2015 Accounts receivable, net $ 23 $ 58 Goodwill 38 75 Other intangible assets, net 3 335 Other assets 2 35 Assets of businesses held for sale $ 66 $ 503 Accounts payable and accrued expenses $ 4 $ 42 Unearned revenue 18 64 Other liabilities 2 100 Liabilities of businesses held for sale $ 24 $ 206 The operating profit of our businesses that were disposed of or held for sale for the periods ended September 30, 2016 and 2015 is as follows: (in millions) Three Months Nine Months 2016 2015 2016 2015 Operating profit 1 $ 37 $ 33 $ 88 $ 84 1 The three and nine months ended September 30, 2016 exclude a pre-tax gain on the sale of J.D. Power of $722 million .

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Schedule of debt	(in millions) September 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 4 691 690 4.4% Senior Notes, due 2026 5 891 890 2.95% Senior Notes, due 2027 6 492 — 6.55% Senior Notes, due 2037 7 396 396 Commercial paper — 143 Total debt 3,963 3,611 Less: short-term debt including current maturities 1 400 143 Long-term debt $ 3,563 $ 3,468 1 Interest payments are due semiannually on April 15 and October 15, and as of September 30, 2016 , the unamortized debt discount and issuance costs are less than $1 million . We made a $400 million early repayment of our 5.9% senior notes on October 20, 2016. 2 Interest payments are due semiannually on February 15 and August 15, and as of September 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 September 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 September 30, 2016 , the unamortized debt discount and issuance costs total $9 million . 5 Interest payments are due semiannually on February 15 and August 15, and as of September 30, 2016 , the unamortized debt discount and issuance costs total $9 million . 6 Interest payments are due semiannually on January 22 and July 22, beginning on January 22, 2017, and as of September 30, 2016 , the unamortized debt discount and issuance costs total $8 million . 7 Interest payments are due semiannually on May 15 and November 15, and as of September 30, 2016 , the unamortized debt discount and issuance costs total $4 million .

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 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 September 30, 2016 and December 31, 2015 : (in millions) Balance Sheet Location September 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 September 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 $ — Selling and general expenses $ 1 $ — Nine 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 $ 3 $ — Selling and general expenses $ 3 $ —
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 September 30 : (in millions) Three Months Nine Months 2016 2015 2016 2015 Net unrealized gains (losses) on cash flow hedges, net of taxes, beginning of period $ 1 $ (1 ) $ (1 ) $ (1 ) Change in fair value, net of tax 2 — 6 — Reclassification into earnings, net of tax (1 ) — (3 ) — Net unrealized gains (losses) on cash flow hedges, net of taxes, end of period $ 2 $ (1 ) $ 2 $ (1 )

Employee Benefits (Tables)

Employee Benefits (Tables)	9 Months Ended
	Sep. 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 September 30 are as follows: Retirement Plans (in millions) Three Months Nine Months 2016 2015 2016 2015 Service cost $ 1 $ 2 $ 2 $ 4 Interest cost 19 24 59 72 Expected return on plan assets (30 ) (32 ) (92 ) (95 ) Amortization of actuarial loss 4 5 12 15 Net periodic benefit (credit) cost $ (6 ) $ (1 ) $ (19 ) $ (4 ) Postretirement Plans (in millions) Three Months Nine Months 2016 2015 2016 2015 Interest cost 1 1 2 2 Amortization of prior service credit / actuarial gain (1 ) — (1 ) — Net periodic benefit (credit) cost $ — $ 1 $ 1 $ 2

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based compensation	Stock-based compensation for the periods ended September 30 is as follows: (in millions) Three Months Nine Months 2016 2015 2016 2015 Stock option expense 1 $ 2 $ 2 $ 6 $ 11 Restricted stock and unit awards expense 18 16 48 44 Total stock-based compensation expense $ 20 $ 18 $ 54 $ 55 1 There were a minimal amount of stock options granted in 2015. During 2015, the Company stopped granting stock options.

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Schedule of stock repurchases	Share repurchases for the periods ended September 30 were as follows: (in millions, except average price) Three Months Nine Months 2016 2015 2016 2015 Total number of shares purchased 1 5.3 2.3 8.8 4.9 Average price paid per share 2 $ — $ 99.01 $ 98.05 $ 102.01 Total cash utilized 3 $ 750 $ 227 $ 1,097 $ 501 1 The three and nine months ended September 30, 2016 include shares received as part of our accelerated share repurchase agreement described in more detail below. 2 Average price paid per share information does not include the accelerated share repurchase transaction as discussed in more detail below. 3 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 nine months ended September 30, 2016 resulting in $1,123 million of cash used to repurchase shares.
Schedule of redeemable noncontrolling interest	Changes to redeemable noncontrolling interest during the nine months ended September 30, 2016 were as follows: (in millions) Balance as of December 31, 2015 $ 920 Net income attributable to noncontrolling interest 82 Distributions payable to noncontrolling interest (76 ) Redemption value adjustment (6 ) Balance as of September 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 nine months ended September 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 (52 ) 7 6 (39 ) Reclassifications from accumulated other comprehensive loss to net earnings — 7 1 (3 ) 2 4 Net other comprehensive income (52 ) 14 3 (35 ) Balance as of September 30, 2016 $ (245 ) $ (392 ) $ 2 $ (635 ) 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)	9 Months Ended
	Sep. 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 September 30 is as follows: (in millions, except per share amounts) Three Months Nine Months 2016 2015 2016 2015 Amounts attributable to S&P Global Inc. common shareholders: Net income $ 892 $ 252 $ 1,569 $ 909 Basic weighted-average number of common shares outstanding 262.9 271.3 264.1 272.6 Effect of stock options and other dilutive securities 2.4 3.1 2.3 2.8 Diluted weighted-average number of common shares outstanding 265.3 274.4 266.4 275.4 Earnings per share attributable to S&P Global Inc. common shareholders: Net income: Basic $ 3.39 $ 0.93 $ 5.94 $ 3.33 Diluted $ 3.36 $ 0.92 $ 5.89 $ 3.30

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Sep. 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 September 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 $ 5 $ 18 $ 7 S&P Global Market Intelligence 1 1 31 10 S&P Global Platts 6 5 3 — Corporate 2 2 11 6 Total $ 17 $ 13 $ 63 $ 23

Segment and Related Informati32

Segment and Related Information (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Schedule of operating results by segment	A summary of operating results by segment for the periods ended September 30 is as follows: Three Months 2016 2015 (in millions) Revenue Operating Profit Revenue Operating Profit S&P Global Ratings 1 $ 642 $ 346 $ 587 $ 194 S&P Global Market Intelligence 2 429 112 356 53 S&P DJ Indices 3 164 107 156 106 S&P Global Platts 4 229 812 248 93 Intersegment elimination 5 (25 ) — (23 ) — Total operating segments 1,439 1,377 1,324 446 Unallocated expense — (29 ) — (36 ) Total $ 1,439 $ 1,348 $ 1,324 $ 410 Nine Months 2016 2015 (in millions) Revenue Operating Profit Revenue Operating Profit S&P Global Ratings 1 $ 1,877 $ 1,004 $ 1,851 $ 846 S&P Global Market Intelligence 2 1,252 285 1,000 178 S&P DJ Indices 3 468 308 446 297 S&P Global Platts 4 738 1,008 707 265 Intersegment elimination 5 (73 ) — (66 ) — Total operating segments 4,262 2,605 3,938 1,586 Unallocated expense 6 — (93 ) — (93 ) Total $ 4,262 $ 2,512 $ 3,938 $ 1,493 1 Operating profit for the three and nine months ended September 30, 2016 primarily includes a benefit related to net legal settlement insurance recoveries of $17 million and $63 million , respectively. Operating profit for the three and nine months ended September 30, 2015 includes legal settlement charges partially offset by a benefit related to legal settlement insurance recoveries of $86 million and $40 million , respectively. Additionally, the nine months ended September 30, 2016 and 2015 include 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 September 30, 2016 and 2015 and $4 million for the nine months ended September 30, 2016 and 2015. 2 Operating profit for the three and nine months ended September 30, 2016 includes disposition-related costs of $5 million and $12 million , respectively, and an acquisition-related cost of $1 million . Operating profit for the nine months ended September 30, 2016 includes a technology related impairment charge of $24 million . Operating profit for the three and nine months ended September 30, 2015 include acquisition-related costs related to the acquisition of SNL of $32 million , and the nine months ended September 30, 2015 include restructuring charges of $12 million . Operating profit also includes amortization of intangibles from acquisitions of $18 million and $54 million for the three and nine months ended September 30, 2016 , respectively, and $10 million and $21 million for the three and nine months ended September 30, 2015 , respectively. 3 Operating profit includes amortization of intangibles from acquisitions of $1 million for the three months ended September 30, 2016 and 2015 and $4 million for the nine months ended September 30, 2016 and 2015. 4 As of September 7, 2016, we completed the sale of J.D. Power and the results are included in S&P Global Platts results through that date. Operating profit for the three and nine months ended September 30, 2016 includes a gain on the sale of J.D. Power of $722 million . Additionally, disposition-related costs of $1 million and $5 million are included for the three and nine months ended September 30, 2016, respectively. Operating profit for the nine months ended September 31, 2015 includes restructuring charges of $1 million . Operating profit also includes amortization of intangibles from acquisitions of $3 million and $9 million for the three and nine months ended September 30, 2016, respectively, and $5 million and $11 million for the three and nine months ended September 30, 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 nine months ended September 30, 2016 include $3 million from a disposition-related reserve release. The nine months ended September 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 are included for the nine months ended September 30, 2015.
Revenue by geographic region	The following provides revenue by geographic region for the periods ended September 30 : (in millions) Three Months Nine Months 2016 2015 2016 2015 U.S. $ 885 $ 810 $ 2,635 $ 2,385 European region 335 311 971 927 Asia 145 137 438 416 Rest of the world 74 66 218 210 Total $ 1,439 $ 1,324 $ 4,262 $ 3,938

Condensed Consolidating Finan33

Condensed Consolidating Financial Statements (Tables)	9 Months Ended
	Sep. 30, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Statement of Income	Statement of Income Three Months Ended September 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 $ 175 $ 383 $ 914 $ (33 ) $ 1,439 Expenses: Operating-related expenses 27 111 333 (33 ) 438 Selling and general expenses 45 49 236 — 330 Depreciation 8 2 12 — 22 Amortization of intangibles — — 23 — 23 Total expenses 80 162 604 (33 ) 813 Gain on dispositions (705 ) — (17 ) — (722 ) Operating profit 800 221 327 — 1,348 Interest expense (income), net 43 — (4 ) — 39 Non-operating intercompany transactions 14 (21 ) (41 ) 48 — Income before taxes on income 743 242 372 (48 ) 1,309 Provision for taxes on income 184 95 107 — 386 Equity in net income of subsidiaries 457 76 — (533 ) — Net income $ 1,016 $ 223 $ 265 $ (581 ) $ 923 Less: net income attributable to noncontrolling interests — — — (31 ) (31 ) Net income attributable to S&P Global Inc. $ 1,016 $ 223 $ 265 $ (612 ) $ 892 Comprehensive income $ 1,069 $ 216 $ 191 $ (561 ) $ 915 Statement of Income Nine Months Ended September 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 $ 516 $ 1,138 $ 2,703 $ (95 ) $ 4,262 Expenses: Operating-related expenses 78 342 1,038 (95 ) 1,363 Selling and general expenses 95 145 735 — 975 Depreciation 28 7 28 — 63 Amortization of intangibles — — 71 — 71 Total expenses 201 494 1,872 (95 ) 2,472 Gain on dispositions (705 ) — (17 ) — (722 ) Operating profit 1,020 644 848 — 2,512 Interest expense (income), net 129 — (7 ) — 122 Non-operating intercompany transactions 249 (62 ) (739 ) 552 — Income before taxes on income 642 706 1,594 (552 ) 2,390 Provision for taxes on income 166 263 302 — 731 Equity in net income of subsidiaries 1,865 220 — (2,085 ) — Net income $ 2,341 $ 663 $ 1,292 $ (2,637 ) $ 1,659 Less: net income attributable to noncontrolling interests — — — (90 ) (90 ) Net income attributable to S&P Global Inc. $ 2,341 $ 663 $ 1,292 $ (2,727 ) $ 1,569 Comprehensive income $ 2,351 $ 662 $ 1,247 $ (2,636 ) $ 1,624 Statement of Income Three Months Ended September 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 $ 165 $ 523 $ 665 $ (29 ) $ 1,324 Expenses: Operating-related expenses 26 167 255 (29 ) 419 Selling and general expenses 200 1 257 — 458 Depreciation 9 4 7 — 20 Amortization of intangibles — — 17 — 17 Total expenses 235 172 536 (29 ) 914 Operating (loss) profit (70 ) 351 129 — 410 Interest expense (income), net 32 — (2 ) — 30 Non-operating intercompany transactions 51 48 (99 ) — — (Loss) income before taxes on income (153 ) 303 230 — 380 (Benefit) provision for taxes on income (74 ) 100 73 — 99 Equity in net income of subsidiaries 1,180 206 — (1,386 ) — Net income $ 1,101 $ 409 $ 157 $ (1,386 ) $ 281 Less: net income attributable to noncontrolling interests — — — (29 ) (29 ) Net income attributable to S&P Global Inc. $ 1,101 $ 409 $ 157 $ (1,415 ) $ 252 Comprehensive income $ 1,095 $ 408 $ 123 $ (1,386 ) $ 240 Statement of Income Nine Months Ended September 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 $ 481 $ 1,640 $ 1,902 $ (85 ) $ 3,938 Expenses: Operating-related expenses 87 546 693 (85 ) 1,241 Selling and general expenses 259 93 759 — 1,111 Depreciation 29 14 21 — 64 Amortization of intangibles — — 40 — 40 Total expenses 375 653 1,513 (85 ) 2,456 Gain on dispositions — — (11 ) — (11 ) Operating profit 106 987 400 — 1,493 Interest expense (income), net 69 — (7 ) — 62 Non-operating intercompany transactions 180 139 (319 ) — — (Loss) income before taxes on income (143 ) 848 726 — 1,431 (Benefit) provision for taxes on income (57 ) 291 205 — 439 Equity in net income of subsidiaries 1,180 205 — (1,385 ) — Net income $ 1,094 $ 762 $ 521 $ (1,385 ) $ 992 Less: net income attributable to noncontrolling interests — — — (83 ) (83 ) Net income attributable to S&P Global Inc. $ 1,094 $ 762 $ 521 $ (1,468 ) $ 909 Comprehensive income $ 1,102 $ 761 $ 480 $ (1,390 ) $ 953
Balance Sheet	Balance Sheet September 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 $ 738 $ — $ 1,661 $ — $ 2,399 Accounts receivable, net of allowance for doubtful accounts 108 160 712 980 Intercompany receivable 346 397 836 (1,579 ) — Deferred income taxes 74 10 23 — 107 Prepaid and other current assets 75 — 77 — 152 Assets of businesses held for sale 1 — 65 — 66 Total current assets 1,342 567 3,374 (1,579 ) 3,704 Property and equipment, net of accumulated depreciation 138 1 116 — 255 Goodwill 182 — 2,767 9 2,958 Other intangible assets, net — — 1,518 — 1,518 Investments in subsidiaries 5,232 672 7,316 (13,220 ) — Intercompany loans receivable 18 — 1,842 (1,860 ) — Other non-current assets 85 23 133 — 241 Total assets $ 6,997 $ 1,263 $ 17,066 $ (16,650 ) $ 8,676 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 71 $ 23 $ 105 $ — $ 199 Intercompany payable 1,492 (22 ) 109 (1,579 ) — Accrued compensation and contributions to retirement plans 108 41 166 — 315 Short-term debt 400 — — — 400 Unearned revenue 274 202 932 — 1,408 Income taxes currently payable 236 — 85 — 321 Other current liabilities 166 (133 ) 351 — 384 Liabilities of businesses held for sale 1 — 23 — 24 Total current liabilities 2,748 111 1,771 (1,579 ) 3,051 Long-term debt 3,563 — — — 3,563 Intercompany loans payable 11 — 1,849 (1,860 ) — Pension and postretirement benefits 208 — 51 — 259 Other non-current liabilities (14 ) 85 301 — 372 Total liabilities 6,516 196 3,972 (3,439 ) 7,245 Redeemable noncontrolling interest — — — 920 920 Equity: Common stock 412 — 2,336 (2,336 ) 412 Additional paid-in capital (300 ) 1,148 10,132 (10,613 ) 367 Retained income 9,288 (81 ) 1,003 (1,286 ) 8,924 Accumulated other comprehensive loss (313 ) — (367 ) 45 (635 ) Less: common stock in treasury (8,606 ) (10 ) 10 (8,606 ) Total equity - controlling interests 481 1,067 13,094 (14,180 ) 462 Total equity - noncontrolling interests — — — 49 49 Total equity 481 1,067 13,094 (14,131 ) 511 Total liabilities and equity $ 6,997 $ 1,263 $ 17,066 $ (16,650 ) $ 8,676 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 Income taxes currently payable 1 — 55 — 56 Other current liabilities 190 65 238 — 493 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 Nine Months Ended September 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 $ 2,341 $ 663 $ 1,292 $ (2,637 ) $ 1,659 Adjustments to reconcile net income to cash provided by operating activities from continuing operations: Depreciation 28 7 28 — 63 Amortization of intangibles — — 71 — 71 Provision for losses on accounts receivable 2 — 8 — 10 Deferred income taxes (80 ) — 72 — (8 ) Stock-based compensation 17 12 25 — 54 Gain on dispositions (705 ) — (17 ) — (722 ) Other 14 3 39 — 56 Changes in operating assets and liabilities, net of effect of acquisitions and dispositions: Accounts receivable 5 159 (190 ) — (26 ) Prepaid and other current assets (14 ) 13 (1 ) — (2 ) Accounts payable and accrued expenses (70 ) (147 ) 90 — (127 ) Unearned revenue 20 (385 ) 359 — (6 ) Accrued legal and regulatory settlements — (108 ) (26 ) — (134 ) Other current liabilities (17 ) (25 ) 30 — (12 ) Net change in prepaid/accrued income taxes 297 — 55 — 352 Net change in other assets and liabilities (35 ) 29 (51 ) — (57 ) Cash provided by operating activities from continuing operations 1,803 221 1,784 (2,637 ) 1,171 Investing Activities: Capital expenditures (34 ) (11 ) (22 ) — (67 ) Acquisitions, net of cash acquired (140 ) — (5 ) — (145 ) Proceeds from dispositions 1,047 — 24 — 1,071 Changes in short-term investments — — (1 ) — (1 ) Cash provided by (used for) investing activities from continuing operations 873 (11 ) (4 ) — 858 Financing Activities: Payments on short-term debt, net (143 ) — — — (143 ) Proceeds from issuance of senior notes, net 493 — — — 493 Dividends paid to shareholders (286 ) — — — (286 ) Dividends and other payments paid to noncontrolling interests — — (59 ) — (59 ) Contingent consideration payments (5 ) — (10 ) — (15 ) Repurchase of treasury shares (1,123 ) — — — (1,123 ) Exercise of stock options 83 — 1 — 84 Excess tax benefits from share-based payments 31 — — — 31 Intercompany financing activities (1,155 ) (210 ) (1,272 ) 2,637 — Cash used for financing activities from continuing operations (2,105 ) (210 ) (1,340 ) 2,637 (1,018 ) Effect of exchange rate changes on cash from continuing operations — — (93 ) — (93 ) Net change in cash and cash equivalents 571 — 347 — 918 Cash and cash equivalents at beginning of period 167 — 1,314 — 1,481 Cash and cash equivalents at end of period $ 738 $ — $ 1,661 $ — $ 2,399 Statement of Cash Flows Nine Months Ended September 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 $ 1,094 $ 762 $ 521 $ (1,385 ) $ 992 Adjustments to reconcile net income to cash provided by (used for) operating activities from continuing operations: Depreciation 29 14 21 — 64 Amortization of intangibles — — 40 — 40 Provision for losses on accounts receivable — (4 ) 7 — 3 Deferred income taxes (139 ) 161 144 — 166 Stock-based compensation 16 16 23 — 55 Gain on dispositions — — (11 ) — (11 ) Other 107 22 21 — 150 Changes in operating assets and liabilities, net of effect of acquisitions and dispositions: Accounts receivable 10 16 (70 ) — (44 ) Prepaid and other current assets (35 ) 22 7 — (6 ) Accounts payable and accrued expenses (100 ) (76 ) (10 ) — (186 ) Unearned revenue 10 (20 ) 28 — 18 Accrued legal and regulatory settlements — (1,624 ) — — (1,624 ) Other current liabilities (19 ) (12 ) (22 ) — (53 ) Net change in prepaid/accrued income taxes 166 — (26 ) — 140 Net change in other assets and liabilities 91 4 (155 ) — (60 ) Cash provided by (used for) operating activities from continuing operations 1,230 (719 ) 518 (1,385 ) (356 ) Investing Activities: Capital expenditures (38 ) (7 ) (29 ) — (74 ) Acquisitions, net of cash acquired (2,241 ) — (152 ) — (2,393 ) Proceeds from dispositions — — 14 — 14 Changes in short-term investments — — (3 ) — (3 ) Cash used for investing activities from continuing operations (2,279 ) (7 ) (170 ) — (2,456 ) Financing Activities: Proceeds from issuance of senior notes, net 2,674 — — — 2,674 Dividends paid to shareholders (274 ) — — — (274 ) Dividends and other payments paid to noncontrolling interests — — (67 ) — (67 ) Contingent consideration payments (5 ) — — — (5 ) Purchase of CRISIL shares — — (16 ) — (16 ) Repurchase of treasury shares (501 ) — — — (501 ) Exercise of stock options 76 — 1 — 77 Excess tax benefits from share-based payments 39 — — — 39 Intercompany financing activities (2,192 ) 727 80 1,385 — Cash (used for) provided by financing activities from continuing operations (183 ) 727 (2 ) 1,385 1,927 Effect of exchange rate changes on cash from continuing operations (9 ) — (33 ) — (42 ) Cash (used for) provided by continuing operations (1,241 ) 1 313 — (927 ) Discontinued Operations: Cash used for operating activities — — (129 ) — (129 ) Cash used for discontinued operations — — (129 ) — (129 ) Net change in cash and cash equivalents (1,241 ) 1 184 — (1,056 ) Cash and cash equivalents at beginning of period 1,402 — 1,095 — 2,497 Cash and cash equivalents at end of period $ 161 $ 1 $ 1,279 $ — $ 1,441

Nature of Operations and Basi34

Nature of Operations and Basis of Presentation (Details) $ in Millions	1 Months Ended		3 Months Ended		9 Months Ended
	Oct. 31, 2016business	Sep. 30, 2016USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)Segment	Sep. 30, 2015USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments (in segments) | Segment					4
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax gain on sale of business			$ 722	$ 0	$ 722	$ 11
S&P Global Platts
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax gain on sale of business			722		722
J.D. Power | S&P Global Platts | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of business		$ 1,100
Pre-tax gain on sale of business			722		722
After-tax gain on sale of business			$ 521		$ 521
Subsequent Event | SPSE and CMA | S&P Global Market Intelligence | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of businesses sold | business	2

Acquisitions and Divestitures35

Acquisitions and Divestitures (Narrative) (Details) $ in Millions	1 Months Ended			3 Months Ended		9 Months Ended
	Oct. 31, 2016business	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)sector	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax gain on sale of business				$ 722	$ 0	$ 722	$ 11
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				(5)		(12)
S&P Global Platts
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax gain on disposal				(1)		(5)
Pre-tax gain on sale of business				722		722
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, Disposed of by Sale, Not Discontinued Operations | S&P Global Platts
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of business		$ 1,100
Pre-tax gain on sale of business				722		722
After-tax gain on sale of business				$ 521		$ 521
TRIS Rating Company Limited | S&P Global Ratings
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Equity investment acquired								49.00%
Subsequent Event | SPSE and CMA | Disposal Group, Disposed of by 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 sold | business	2
SNL | S&P Global Market Intelligence
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase price			$ 2,200
Number of industry sectors | sector			5

Acquisitions and Divestitures36

Acquisitions and Divestitures (Components of Assets and Liabilities, and Operating Profits, of Businesses Held for Sale) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Assets and Liabilities of Business Held for Sale
Liabilities of businesses held for sale	$ 24		$ 24		$ 206
Operating Profit of Business Held for Sale
Gain on sale of business	722	$ 0	722	$ 11
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	23		23		58
Goodwill	38		38		75
Other intangible assets, net	3		3		335
Other assets	2		2		35
Assets of businesses held for sale	66		66		503
Accounts payable and accrued expenses	4		4		42
Unearned revenue	18		18		64
Other liabilities	2		2		100
Liabilities of businesses held for sale	24		24		$ 206
J.D. Power, SPSE, and CMA | Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Operating Profit of Business Held for Sale
Operating profit 1	37	$ 33	88	$ 84
S&P Global Platts
Operating Profit of Business Held for Sale
Gain on sale of business	722		722
S&P Global Platts | J.D. Power | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Operating Profit of Business Held for Sale
Gain on sale of business	$ 722		$ 722

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Effective income tax rate	29.50%	25.90%	30.60%	30.70%
Unrecognized tax benefits	$ 121		$ 121		$ 120
Accrued interest and penalties associated with uncertain tax positions	$ 40		$ 40		$ 31

Debt (Schedule of Debt) (Detail

Debt (Schedule of Debt) (Details) - USD ($) $ in Millions	Oct. 20, 2016	Sep. 30, 2016	Sep. 22, 2016	Dec. 31, 2015	May 26, 2015
Debt Instrument [Line Items]
Total debt		$ 3,963		$ 3,611
Less: short-term debt including current maturities		400		143
Long-term debt		3,563		3,468
Senior notes | 5.9% Senior Notes, due 2017
Debt Instrument [Line Items]
Long-term debt		$ 400		399
Stated interest rate (percent)		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
Stated interest rate (percent)		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
Stated interest rate (percent)		3.30%
Unamortized debt discount and issuance costs		$ 5
Senior notes | 4.0% Senior Notes, due 2025
Debt Instrument [Line Items]
Long-term debt		$ 691		690
Stated interest rate (percent)		4.00%			4.00%
Unamortized debt discount and issuance costs		$ 9
Senior notes | 4.4% Senior Notes, due 2026
Debt Instrument [Line Items]
Long-term debt		$ 891		890
Stated interest rate (percent)		4.40%
Unamortized debt discount and issuance costs		$ 9
Senior notes | 2.95% Senior Notes, due 2027
Debt Instrument [Line Items]
Long-term debt		$ 492		0
Stated interest rate (percent)		2.95%	2.95%
Unamortized debt discount and issuance costs		$ 8
Senior notes | 6.55% Senior Notes, due 2037
Debt Instrument [Line Items]
Long-term debt		$ 396		$ 396
Stated interest rate (percent)		6.55%
Unamortized debt discount and issuance costs		$ 4
Subsequent Event | Senior notes | 5.9% Senior Notes, due 2017
Debt Instrument [Line Items]
Stated interest rate (percent)	5.90%
Repayments of debt	$ 400

Debt (Narrative) (Details)

Debt (Narrative) (Details)	Oct. 20, 2016USD ($)	Jun. 30, 2015USD ($)	Sep. 30, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 22, 2016USD ($)	Aug. 18, 2015USD ($)
Debt Instrument [Line Items]
Long-term debt fair value			$ 4,300,000,000	$ 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			$ 0	$ 143,000,000
Five-Year Credit Agreement | Commercial paper | Revolving Credit Facility
Debt Instrument [Line Items]
Average interest rate				0.95%
Term of debt instrument				17 days
Senior notes
Debt Instrument [Line Items]
Debt issued						$ 2,000,000,000
Senior notes | 2.95% Senior Notes, due 2027
Debt Instrument [Line Items]
Debt issued					$ 500,000,000
Stated interest rate (percent)			2.95%		2.95%
Senior notes | 5.9% Senior Notes, due 2017
Debt Instrument [Line Items]
Stated interest rate (percent)			5.90%
Line of Credit | Five-Year Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Term of debt instrument		5 years
Subsequent Event | Senior notes | 5.9% Senior Notes, due 2017
Debt Instrument [Line Items]
Stated interest rate (percent)	5.90%
Repayments of debt	$ 400,000,000

Derivative Instruments (Narrati

Derivative Instruments (Narrative) (Details) - Cash Flow Hedging - Designated as Hedging Instrument - Foreign exchange forward contracts - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Derivative [Line Items]
Net gains related to derivatives recorded in other comprehensive income (loss) expected to be reclassified into earnings	$ 2
Aggregate notional value	$ 78	$ 59

Derivative Instruments (Locatio

Derivative Instruments (Location and Fair Values of Cash Flow Hedges) (Details) - USD ($) $ in Millions	Sep. 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 (Locat42

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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss (effective portion)	$ 1	$ 0	$ 3	$ 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	$ 3	$ 0

Derivative Instruments (Change

Derivative Instruments (Change in Unrealized (Losses) Gains in Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 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	$ 462		462
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	1	$ (1)	(1)	$ (1)
Change in fair value, net of tax	2	0	6	0
Reclassification into earnings, net of tax	(1)	0	(3)	0
Net unrealized gains (losses) on cash flow hedges, net of taxes, end of period	$ 2	$ (1)	$ 2	$ (1)

Employee Benefits (Components o

Employee Benefits (Components of Net Periodic Benefit (Credit) Cost) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Retirement Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1	$ 2	$ 2	$ 4
Interest cost	19	24	59	72
Expected return on plan assets	(30)	(32)	(92)	(95)
Amortization of prior service credit / actuarial (gain) loss	4	5	12	15
Net periodic benefit (credit) cost	(6)	(1)	(19)	(4)
Postretirement Plans
Defined Benefit Plan Disclosure [Line Items]
Interest cost	1	1	2	2
Amortization of prior service credit / actuarial (gain) loss	(1)	0	(1)	0
Net periodic benefit (credit) cost	$ 0	$ 1	$ 1	$ 2

Employee Benefits (Narrative) (

Employee Benefits (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Decrease in net periodic benefit cost due to effect of assumption changes	$ 5	$ 15
Contribution towards retirement plans		6
Expected contributions towards of retirement plans		$ 2

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 20	$ 18	$ 54	$ 55
Stock option expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	2	2	6	11
Restricted stock and unit awards expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	18	$ 16	$ 48	$ 44
Award grants (in shares)			0.6
Award grants, weighted average grant date fair value (in dollars per share)			$ 100.31
Unrecognized compensation expense	$ 65		$ 65
Unrecognized compensation expense, period for recognition			1 year 8 months 60 days

Equity (Narrative) (Details)

Equity (Narrative) (Details) - USD ($)	1 Months Ended		3 Months Ended		9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Sep. 07, 2016	Dec. 04, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated share repurchases, number of shares acquired (in shares)		300,000	5,300,000	2,300,000	8,800,000	4,900,000
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)	26,600,000		26,600,000		26,600,000
Accelerated Share Repurchases, September 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share repurchase program, authorized amount							$ 750,000,000
Accelerated share repurchases, payment	$ 750,000,000		$ 750,000,000		$ 750,000,000
Initial Award | Accelerated Share Repurchases, September 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated share repurchases, number of shares acquired (in shares)	4,400,000
Additional Award | Accelerated Share Repurchases, September 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated share repurchases, number of shares acquired (in shares)	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		9 Months Ended
	Dec. 31, 2015	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares purchased (in shares)	0.3	5.3	2.3	8.8	4.9
Average price paid per share (in dollars per share)		$ 0	$ 99.01	$ 98.05	$ 102.01
Total cash utilized	$ 26			$ 1,097
Cash used to repurchase shares				1,123	$ 501
Stock Repurchases
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash used to repurchase shares				1,123
Total SPGI Equity
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total cash utilized		$ 750	$ 227	$ 1,097	$ 501

Equity (Schedule of redeemable

Equity (Schedule of redeemable noncontrolling interest) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2016USD ($)
Increase (Decrease) in Temporary Equity [Roll Forward]
Balance as of December 31, 2015	$ 920
Net income attributable to noncontrolling interest	82
Distributions payable to noncontrolling interest	(76)
Redemption value adjustment	(6)
Balance as of September 30, 2016	$ 920

Equity (Accumulated Other Compr

Equity (Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance as of December 31, 2015			$ (600)
Other comprehensive income before reclassifications			(39)
Reclassifications from accumulated other comprehensive loss to net earnings			4
Net other comprehensive income			(35)
Balance as of September 30, 2016	$ (635)		(635)
Pension and other postretirement benefit plans, tax	1	$ 1	5	$ 19
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			(52)
Reclassifications from accumulated other comprehensive loss to net earnings			0
Net other comprehensive income			(52)
Balance as of September 30, 2016	(245)		(245)
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			7
Net other comprehensive income			14
Balance as of September 30, 2016	(392)		(392)
Pension and other postretirement benefit plans, tax			4
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			6
Reclassifications from accumulated other comprehensive loss to net earnings			(3)
Net other comprehensive income			3
Balance as of September 30, 2016	$ 2		$ 2

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Amounts attributable to S&P Global Inc. common shareholders:
Net income	$ 892	$ 252	$ 1,569	$ 909
Basic weighted-average number of common shares outstanding (in shares)	262.9	271.3	264.1	272.6
Effect of stock options and other dilutive securities (in shares)	2.4	3.1	2.3	2.8
Diluted weighted-average number of common shares outstanding (in shares)	265.3	274.4	266.4	275.4
Earnings per share attributable to S&P Global Inc. common shareholders:
Basic (in dollars per share)	$ 3.39	$ 0.93	$ 5.94	$ 3.33
Diluted (in dollars per share)	$ 3.36	$ 0.92	$ 5.89	$ 3.30
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)			0.7	0.9

Restructuring (Details)

Restructuring (Details) $ in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2016USD ($)position	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)position
S&P Global Ratings
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	$ 6	$ 8
S&P Global Market Intelligence
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded		12
S&P Global Platts
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded		$ 1
2016 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	17
Ending Reserve Balance	13
Restructuring charges paid	4
2016 Restructuring Plan | S&P Global Ratings
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	8
Ending Reserve Balance	5
2016 Restructuring Plan | S&P Global Market Intelligence
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	1
Ending Reserve Balance	1
2016 Restructuring Plan | S&P Global Platts
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	6
Ending Reserve Balance	5
2016 Restructuring Plan | Corporate
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	2
Ending Reserve Balance	$ 2
2015 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Workforce reduction (in positions) | position	100		550
Initial Charge Recorded	$ 63
Ending Reserve Balance	23		$ 50
Restructuring charges paid	27
2015 Restructuring Plan | S&P Global Ratings
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	18
Ending Reserve Balance	7
2015 Restructuring Plan | S&P Global Market Intelligence
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	31
Ending Reserve Balance	10
2015 Restructuring Plan | S&P Global Platts
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	3
Ending Reserve Balance	0
2015 Restructuring Plan | Corporate
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	11
Ending Reserve Balance	$ 6

Segment and Related Informati53

Segment and Related Information (Operating Results by Segment) (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)Segment	Sep. 30, 2015USD ($)
Segment Reporting [Abstract]
Number of reportable segments (in segments) | Segment			4
Segment Reporting Information [Line Items]
Revenue	$ 1,439	$ 1,324	$ 4,262	$ 3,938
Operating Profit	1,348	410	2,512	1,493
Amortization of intangible assets	23	17	71	40
Gain on sale of business	722	0	722	11
S&P Global Ratings
Segment Reporting Information [Line Items]
Revenue	642	587	1,877	1,851
Operating Profit	346	194	1,004	846
Insurance recoveries	17		63
Legal settlement charge		86		40
Restructuring charge			6	8
Amortization of intangible assets	1	1	4	4
S&P Global Market Intelligence
Segment Reporting Information [Line Items]
Revenue	429	356	1,252	1,000
Operating Profit	112	53	285	178
Restructuring charge				12
Amortization of intangible assets	18	10	54	21
Impairment of intangible asset			24
Acquisition-related costs	1	32	1	32
Disposition-related gain (loss)	(5)		(12)
S&P DJ Indices
Segment Reporting Information [Line Items]
Revenue	164	156	468	446
Operating Profit	107	106	308	297
Amortization of intangible assets	1	1	4	4
S&P Global Platts
Segment Reporting Information [Line Items]
Revenue	229	248	738	707
Operating Profit	812	93	1,008	265
Restructuring charge				1
Amortization of intangible assets	3	5	9	11
Gain on sale of business	722		722
Disposition-related gain (loss)	(1)		(5)
Intersegment elimination
Segment Reporting Information [Line Items]
Revenue	(25)	(23)	(73)	(66)
Operating Profit	0	0	0	0
Total operating segments
Segment Reporting Information [Line Items]
Revenue	1,439	1,324	4,262	3,938
Operating Profit	1,377	446	2,605	1,586
Unallocated expense
Segment Reporting Information [Line Items]
Revenue	0	0	0	0
Operating Profit	$ (29)	$ (36)	(93)	(93)
Disposition-related gain (loss)			$ 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

Segment and Related Informati54

Segment and Related Information (Revenue by Geographic Region) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 1,439	$ 1,324	$ 4,262	$ 3,938
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	885	810	2,635	2,385
European region
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	335	311	971	927
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	145	137	438	416
Rest of the world
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 74	$ 66	$ 218	$ 210

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2016USD ($)	Jan. 31, 2016employee	Aug. 31, 2015employeeshareholder	Jun. 30, 2012
Shareholder Derivative Action
Loss Contingencies [Line Items]
Number of shareholders commencing punitive derivative action | shareholder				2
CME Group | S&P DJ Indices
Loss Contingencies [Line Items]
Revenues earned under license agreement | $	$ 18	$ 58
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 Finan56

Condensed Consolidating Financial Statements (Narrative) (Details) - USD ($)	Sep. 30, 2016	Sep. 22, 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 | 2.95% Senior Notes due in 2027
Condensed Financial Statements, Captions [Line Items]
Debt issued		$ 500,000,000
Stated interest rate (percent)	2.95%	2.95%
Senior notes | 4.0% Senior Notes due in 2025
Condensed Financial Statements, Captions [Line Items]
Debt issued				$ 700,000,000
Stated interest rate (percent)	4.00%			4.00%
Senior notes | 2.5% Senior Notes due in 2018
Condensed Financial Statements, Captions [Line Items]
Debt issued			$ 400,000,000
Stated interest rate (percent)			2.50%
Senior notes | 3.3% Senior Notes due in 2020
Condensed Financial Statements, Captions [Line Items]
Debt issued			$ 700,000,000
Stated interest rate (percent)			3.30%
Senior notes | 4.4% Senior Notes due in 2026
Condensed Financial Statements, Captions [Line Items]
Debt issued			$ 900,000,000
Stated interest rate (percent)			4.40%

Condensed Consolidating Finan57

Condensed Consolidating Financial Statements (Statement of Income) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Condensed Income Statements, Captions [Line Items]
Revenue	$ 1,439	$ 1,324	$ 4,262	$ 3,938
Expenses:
Operating-related expenses	438	419	1,363	1,241
Selling and general expenses	330	458	975	1,111
Depreciation	22	20	63	64
Amortization of intangibles	23	17	71	40
Total expenses	813	914	2,472	2,456
Gain on dispositions	(722)	0	(722)	(11)
Operating profit	1,348	410	2,512	1,493
Interest expense, net	39	30	122	62
Non-operating intercompany transactions	0	0	0	0
Income before taxes on income	1,309	380	2,390	1,431
Provision for taxes on income	386	99	731	439
Equity in net income (loss) income of subsidiaries	0	0	0	0
Net income	923	281	1,659	992
Less: net income attributable to noncontrolling interests	(31)	(29)	(90)	(83)
Net income	892	252	1,569	909
Comprehensive income	915	240	1,624	953
Eliminations
Condensed Income Statements, Captions [Line Items]
Revenue	(33)	(29)	(95)	(85)
Expenses:
Operating-related expenses	(33)	(29)	(95)	(85)
Selling and general expenses	0	0	0	0
Depreciation	0	0	0	0
Amortization of intangibles	0	0	0	0
Total expenses	(33)	(29)	(95)	(85)
Gain on dispositions	0		0	0
Operating profit	0	0	0	0
Interest expense, net	0	0	0	0
Non-operating intercompany transactions	48	0	552	0
Income before taxes on income	(48)	0	(552)	0
Provision for taxes on income	0	0	0	0
Equity in net income (loss) income of subsidiaries	(533)	(1,386)	(2,085)	(1,385)
Net income	(581)	(1,386)	(2,637)	(1,385)
Less: net income attributable to noncontrolling interests	(31)	(29)	(90)	(83)
Net income	(612)	(1,415)	(2,727)	(1,468)
Comprehensive income	(561)	(1,386)	(2,636)	(1,390)
S&P Global Inc.
Condensed Income Statements, Captions [Line Items]
Revenue	175	165	516	481
Expenses:
Operating-related expenses	27	26	78	87
Selling and general expenses	45	200	95	259
Depreciation	8	9	28	29
Amortization of intangibles	0	0	0	0
Total expenses	80	235	201	375
Gain on dispositions	(705)		(705)	0
Operating profit	800	(70)	1,020	106
Interest expense, net	43	32	129	69
Non-operating intercompany transactions	14	51	249	180
Income before taxes on income	743	(153)	642	(143)
Provision for taxes on income	184	(74)	166	(57)
Equity in net income (loss) income of subsidiaries	457	1,180	1,865	1,180
Net income	1,016	1,101	2,341	1,094
Less: net income attributable to noncontrolling interests	0	0	0	0
Net income	1,016	1,101	2,341	1,094
Comprehensive income	1,069	1,095	2,351	1,102
Standard & Poor's Financial Services LLC
Condensed Income Statements, Captions [Line Items]
Revenue	383	523	1,138	1,640
Expenses:
Operating-related expenses	111	167	342	546
Selling and general expenses	49	1	145	93
Depreciation	2	4	7	14
Amortization of intangibles	0	0	0	0
Total expenses	162	172	494	653
Gain on dispositions	0		0	0
Operating profit	221	351	644	987
Interest expense, net	0	0	0	0
Non-operating intercompany transactions	(21)	48	(62)	139
Income before taxes on income	242	303	706	848
Provision for taxes on income	95	100	263	291
Equity in net income (loss) income of subsidiaries	76	206	220	205
Net income	223	409	663	762
Less: net income attributable to noncontrolling interests	0	0	0	0
Net income	223	409	663	762
Comprehensive income	216	408	662	761
Non-Guarantor Subsidiaries
Condensed Income Statements, Captions [Line Items]
Revenue	914	665	2,703	1,902
Expenses:
Operating-related expenses	333	255	1,038	693
Selling and general expenses	236	257	735	759
Depreciation	12	7	28	21
Amortization of intangibles	23	17	71	40
Total expenses	604	536	1,872	1,513
Gain on dispositions	(17)		(17)	(11)
Operating profit	327	129	848	400
Interest expense, net	(4)	(2)	(7)	(7)
Non-operating intercompany transactions	(41)	(99)	(739)	(319)
Income before taxes on income	372	230	1,594	726
Provision for taxes on income	107	73	302	205
Equity in net income (loss) income of subsidiaries	0	0	0	0
Net income	265	157	1,292	521
Less: net income attributable to noncontrolling interests	0	0	0	0
Net income	265	157	1,292	521
Comprehensive income	$ 191	$ 123	$ 1,247	$ 480

Condensed Consolidating Finan58

Condensed Consolidating Financial Statements (Balance Sheet) (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
Assets, Current [Abstract]
Cash and cash equivalents	$ 2,399	$ 1,481	$ 1,441	$ 2,497
Accounts receivable, net of allowance for doubtful accounts	980	991
Intercompany receivable	0	0
Deferred income taxes	107	109
Prepaid and other current assets	152	212
Assets of businesses held for sale	66	503
Total current assets	3,704	3,296
Property and equipment, net of accumulated depreciation	255	270
Goodwill	2,958	2,882
Other intangible assets, net	1,518	1,522
Investments in subsidiaries	0	0
Intercompany loans receivable	0	0
Other non-current assets	241	213
Total assets	8,676	8,183
Current liabilities:
Accounts payable	199	206
Intercompany payable	0	0
Accrued compensation and contributions to retirement plans	315	383
Short-term debt	400	143
Unearned revenue	1,408	1,421
Income taxes currently payable	321	56
Other current liabilities	384	493
Liabilities of businesses held for sale	24	206
Total current liabilities	3,051	2,908
Long-term debt	3,563	3,468
Intercompany loans payable	0	0
Pension and other postretirement benefits	259	276
Other non-current liabilities	372	368
Total liabilities	7,245	7,020
Redeemable noncontrolling interest (Note 8)	920	920
Equity:
Common stock	412	412
Additional paid-in capital	367	475
Retained income	8,924	7,636
Accumulated other comprehensive loss	(635)	(600)
Less: common stock in treasury	(8,606)	(7,729)
Total equity — controlling interests	462	194
Total equity - noncontrolling interests	49	49
Total equity	511	243
Total liabilities and equity	8,676	8,183
Eliminations
Assets, Current [Abstract]
Cash and cash equivalents	0	0	0	0
Accounts receivable, net of allowance for doubtful accounts		0
Intercompany receivable	(1,579)	(3,353)
Deferred income taxes	0	0
Prepaid and other current assets	0	(1)
Assets of businesses held for sale	0	0
Total current assets	(1,579)	(3,354)
Property and equipment, net of accumulated depreciation	0	0
Goodwill	9	9
Other intangible assets, net	0	0
Investments in subsidiaries	(13,220)	(12,626)
Intercompany loans receivable	(1,860)	(2,117)
Other non-current assets	0	0
Total assets	(16,650)	(18,088)
Current liabilities:
Accounts payable	0	0
Intercompany payable	(1,579)	(3,354)
Accrued compensation and contributions to retirement plans	0	0
Short-term debt	0	0
Unearned revenue	0	(1)
Income taxes currently payable	0	0
Other current liabilities	0	0
Liabilities of businesses held for sale	0	0
Total current liabilities	(1,579)	(3,355)
Long-term debt	0	0
Intercompany loans payable	(1,860)	(2,117)
Pension and other postretirement benefits	0	0
Other non-current liabilities	0	0
Total liabilities	(3,439)	(5,472)
Redeemable noncontrolling interest (Note 8)	920	920
Equity:
Common stock	(2,336)	(2,337)
Additional paid-in capital	(10,613)	(10,694)
Retained income	(1,286)	(609)
Accumulated other comprehensive loss	45	44
Less: common stock in treasury	10	12
Total equity — controlling interests	(14,180)	(13,584)
Total equity - noncontrolling interests	49	48
Total equity	(14,131)	(13,536)
Total liabilities and equity	(16,650)	(18,088)
S&P Global Inc.
Assets, Current [Abstract]
Cash and cash equivalents	738	167	161	1,402
Accounts receivable, net of allowance for doubtful accounts	108	116
Intercompany receivable	346	208
Deferred income taxes	74	75
Prepaid and other current assets	75	120
Assets of businesses held for sale	1	4
Total current assets	1,342	690
Property and equipment, net of accumulated depreciation	138	141
Goodwill	182	17
Other intangible assets, net	0	0
Investments in subsidiaries	5,232	4,651
Intercompany loans receivable	18	16
Other non-current assets	85	67
Total assets	6,997	5,582
Current liabilities:
Accounts payable	71	71
Intercompany payable	1,492	2,144
Accrued compensation and contributions to retirement plans	108	127
Short-term debt	400	143
Unearned revenue	274	254
Income taxes currently payable	236	1
Other current liabilities	166	190
Liabilities of businesses held for sale	1	80
Total current liabilities	2,748	3,010
Long-term debt	3,563	3,468
Intercompany loans payable	11	21
Pension and other postretirement benefits	208	230
Other non-current liabilities	(14)	(25)
Total liabilities	6,516	6,704
Redeemable noncontrolling interest (Note 8)	0	0
Equity:
Common stock	412	412
Additional paid-in capital	(300)	(184)
Retained income	9,288	6,701
Accumulated other comprehensive loss	(313)	(322)
Less: common stock in treasury	(8,606)	(7,729)
Total equity — controlling interests	481	(1,122)
Total equity - noncontrolling interests	0	0
Total equity	481	(1,122)
Total liabilities and equity	6,997	5,582
Standard & Poor's Financial Services LLC
Assets, Current [Abstract]
Cash and cash equivalents	0	0	1	0
Accounts receivable, net of allowance for doubtful accounts	160	319
Intercompany receivable	397	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	567	2,214
Property and equipment, net of accumulated depreciation	1	3
Goodwill	0	40
Other intangible assets, net	0	0
Investments in subsidiaries	672	659
Intercompany loans receivable	0	368
Other non-current assets	23	19
Total assets	1,263	3,303
Current liabilities:
Accounts payable	23	54
Intercompany payable	(22)	675
Accrued compensation and contributions to retirement plans	41	89
Short-term debt	0	0
Unearned revenue	202	586
Income taxes currently payable	0	0
Other current liabilities	(133)	65
Liabilities of businesses held for sale	0	0
Total current liabilities	111	1,469
Long-term debt	0	0
Intercompany loans payable	0	0
Pension and other postretirement benefits	0	0
Other non-current liabilities	85	98
Total liabilities	196	1,567
Redeemable noncontrolling interest (Note 8)	0	0
Equity:
Common stock	0	0
Additional paid-in capital	1,148	1,179
Retained income	(81)	557
Accumulated other comprehensive loss	0	0
Less: common stock in treasury		0
Total equity — controlling interests	1,067	1,736
Total equity - noncontrolling interests	0	0
Total equity	1,067	1,736
Total liabilities and equity	1,263	3,303
Non-Guarantor Subsidiaries
Assets, Current [Abstract]
Cash and cash equivalents	1,661	1,314	$ 1,279	$ 1,095
Accounts receivable, net of allowance for doubtful accounts	712	556
Intercompany receivable	836	1,273
Deferred income taxes	23	24
Prepaid and other current assets	77	80
Assets of businesses held for sale	65	499
Total current assets	3,374	3,746
Property and equipment, net of accumulated depreciation	116	126
Goodwill	2,767	2,816
Other intangible assets, net	1,518	1,522
Investments in subsidiaries	7,316	7,316
Intercompany loans receivable	1,842	1,733
Other non-current assets	133	127
Total assets	17,066	17,386
Current liabilities:
Accounts payable	105	81
Intercompany payable	109	535
Accrued compensation and contributions to retirement plans	166	167
Short-term debt	0	0
Unearned revenue	932	582
Income taxes currently payable	85	55
Other current liabilities	351	238
Liabilities of businesses held for sale	23	126
Total current liabilities	1,771	1,784
Long-term debt	0	0
Intercompany loans payable	1,849	2,096
Pension and other postretirement benefits	51	46
Other non-current liabilities	301	295
Total liabilities	3,972	4,221
Redeemable noncontrolling interest (Note 8)	0	0
Equity:
Common stock	2,336	2,337
Additional paid-in capital	10,132	10,174
Retained income	1,003	987
Accumulated other comprehensive loss	(367)	(322)
Less: common stock in treasury	(10)	(12)
Total equity — controlling interests	13,094	13,164
Total equity - noncontrolling interests	0	1
Total equity	13,094	13,165
Total liabilities and equity	$ 17,066	$ 17,386

Condensed Consolidating Finan59

Condensed Consolidating Financial Statements (Statement of Cash Flows) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income	$ 923	$ 281	$ 1,659	$ 992
Adjustments to reconcile net income to cash provided by (used for) operating activities from continuing operations:
Depreciation			63	64
Amortization of intangibles			71	40
Provision for losses on accounts receivable			10	3
Deferred income taxes			(8)	166
Stock-based compensation			54	55
Gain on dispositions	(722)	0	(722)	(11)
Other			56	150
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable			(26)	(44)
Prepaid and other current assets			(2)	(6)
Accounts payable and accrued expenses			(127)	(186)
Unearned revenue			(6)	18
Accrued legal and regulatory settlements			(134)	(1,624)
Other current liabilities			(12)	(53)
Net change in prepaid/accrued income taxes			352	140
Net change in other assets and liabilities			(57)	(60)
Cash provided by (used for) operating activities from continuing operations			1,171	(356)
Investing Activities:
Capital expenditures			(67)	(74)
Acquisitions, net of cash acquired			(145)	(2,393)
Proceeds from dispositions			1,071	14
Changes in short-term investments			(1)	(3)
Cash provided by (used for) investing activities from continuing operations			858	(2,456)
Financing Activities:
Payments on short-term debt, net			(143)	0
Proceeds from issuance of senior notes, net			493	2,674
Dividends paid to shareholders			(286)	(274)
Dividends and other payments paid to noncontrolling interests			(59)	(67)
Contingent consideration payment			(15)	(5)
Purchase of CRISIL shares			0	(16)
Repurchase of treasury shares			(1,123)	(501)
Exercise of stock options			84	77
Excess tax benefits from share-based payments			31	39
Intercompany financing activities			0	0
Cash (used for) provided by financing activities from continuing operations			(1,018)	1,927
Effect of exchange rate changes on cash from continuing operations			(93)	(42)
Cash provided by (used for) continuing operations			918	(927)
Discontinued Operations:
Cash used for operating activities			0	(129)
Cash used for discontinued operations			0	(129)
Net change in cash and cash equivalents			918	(1,056)
Cash and cash equivalents at beginning of period			1,481	2,497
Cash and cash equivalents at end of period	2,399	1,441	2,399	1,441
Eliminations
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income	(581)	(1,386)	(2,637)	(1,385)
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
Gain on dispositions	0		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			(2,637)	(1,385)
Investing Activities:
Capital expenditures			0	0
Acquisitions, net of cash acquired			0	0
Proceeds from dispositions			0	0
Changes in short-term investments			0	0
Cash provided by (used for) investing activities from continuing operations			0	0
Financing Activities:
Payments on short-term debt, net			0
Proceeds from issuance of senior notes, net			0	0
Dividends paid to shareholders			0	0
Dividends and other payments paid to noncontrolling interests			0	0
Contingent consideration payment			0	0
Purchase of CRISIL shares				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			2,637	1,385
Cash (used for) provided by financing activities from continuing operations			2,637	1,385
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	1,016	1,101	2,341	1,094
Adjustments to reconcile net income to cash provided by (used for) operating activities from continuing operations:
Depreciation			28	29
Amortization of intangibles			0	0
Provision for losses on accounts receivable			2	0
Deferred income taxes			(80)	(139)
Stock-based compensation			17	16
Gain on dispositions	(705)		(705)	0
Other			14	107
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable			5	10
Prepaid and other current assets			(14)	(35)
Accounts payable and accrued expenses			(70)	(100)
Unearned revenue			20	10
Accrued legal and regulatory settlements			0	0
Other current liabilities			(17)	(19)
Net change in prepaid/accrued income taxes			297	166
Net change in other assets and liabilities			(35)	91
Cash provided by (used for) operating activities from continuing operations			1,803	1,230
Investing Activities:
Capital expenditures			(34)	(38)
Acquisitions, net of cash acquired			(140)	(2,241)
Proceeds from dispositions			1,047	0
Changes in short-term investments			0	0
Cash provided by (used for) investing activities from continuing operations			873	(2,279)
Financing Activities:
Payments on short-term debt, net			(143)
Proceeds from issuance of senior notes, net			493	2,674
Dividends paid to shareholders			(286)	(274)
Dividends and other payments paid to noncontrolling interests			0	0
Contingent consideration payment			(5)	(5)
Purchase of CRISIL shares				0
Repurchase of treasury shares			(1,123)	(501)
Exercise of stock options			83	76
Excess tax benefits from share-based payments			31	39
Intercompany financing activities			(1,155)	(2,192)
Cash (used for) provided by financing activities from continuing operations			(2,105)	(183)
Effect of exchange rate changes on cash from continuing operations			0	(9)
Cash provided by (used for) continuing operations				(1,241)
Discontinued Operations:
Cash used for operating activities				0
Cash used for discontinued operations				0
Net change in cash and cash equivalents			571	(1,241)
Cash and cash equivalents at beginning of period			167	1,402
Cash and cash equivalents at end of period	738	161	738	161
Standard & Poor's Financial Services LLC
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income	223	409	663	762
Adjustments to reconcile net income to cash provided by (used for) operating activities from continuing operations:
Depreciation			7	14
Amortization of intangibles			0	0
Provision for losses on accounts receivable			0	(4)
Deferred income taxes			0	161
Stock-based compensation			12	16
Gain on dispositions	0		0	0
Other			3	22
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable			159	16
Prepaid and other current assets			13	22
Accounts payable and accrued expenses			(147)	(76)
Unearned revenue			(385)	(20)
Accrued legal and regulatory settlements			(108)	(1,624)
Other current liabilities			(25)	(12)
Net change in prepaid/accrued income taxes			0	0
Net change in other assets and liabilities			29	4
Cash provided by (used for) operating activities from continuing operations			221	(719)
Investing Activities:
Capital expenditures			(11)	(7)
Acquisitions, net of cash acquired			0	0
Proceeds from dispositions			0	0
Changes in short-term investments			0	0
Cash provided by (used for) investing activities from continuing operations			(11)	(7)
Financing Activities:
Payments on short-term debt, net			0
Proceeds from issuance of senior notes, net			0	0
Dividends paid to shareholders			0	0
Dividends and other payments paid to noncontrolling interests			0	0
Contingent consideration payment			0	0
Purchase of CRISIL shares				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			(210)	727
Cash (used for) provided by financing activities from continuing operations			(210)	727
Effect of exchange rate changes on cash from continuing operations			0	0
Cash provided by (used for) continuing operations				1
Discontinued Operations:
Cash used for operating activities				0
Cash used for discontinued operations				0
Net change in cash and cash equivalents			0	1
Cash and cash equivalents at beginning of period			0	0
Cash and cash equivalents at end of period	0	1	0	1
Non-Guarantor Subsidiaries
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income	265	157	1,292	521
Adjustments to reconcile net income to cash provided by (used for) operating activities from continuing operations:
Depreciation			28	21
Amortization of intangibles			71	40
Provision for losses on accounts receivable			8	7
Deferred income taxes			72	144
Stock-based compensation			25	23
Gain on dispositions	(17)		(17)	(11)
Other			39	21
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable			(190)	(70)
Prepaid and other current assets			(1)	7
Accounts payable and accrued expenses			90	(10)
Unearned revenue			359	28
Accrued legal and regulatory settlements			(26)	0
Other current liabilities			30	(22)
Net change in prepaid/accrued income taxes			55	(26)
Net change in other assets and liabilities			(51)	(155)
Cash provided by (used for) operating activities from continuing operations			1,784	518
Investing Activities:
Capital expenditures			(22)	(29)
Acquisitions, net of cash acquired			(5)	(152)
Proceeds from dispositions			24	14
Changes in short-term investments			(1)	(3)
Cash provided by (used for) investing activities from continuing operations			(4)	(170)
Financing Activities:
Payments on short-term debt, net			0
Proceeds from issuance of senior notes, net			0	0
Dividends paid to shareholders			0	0
Dividends and other payments paid to noncontrolling interests			(59)	(67)
Contingent consideration payment			(10)	0
Purchase of CRISIL shares				(16)
Repurchase of treasury shares			0	0
Exercise of stock options			1	1
Excess tax benefits from share-based payments			0	0
Intercompany financing activities			(1,272)	80
Cash (used for) provided by financing activities from continuing operations			(1,340)	(2)
Effect of exchange rate changes on cash from continuing operations			(93)	(33)
Cash provided by (used for) continuing operations				313
Discontinued Operations:
Cash used for operating activities				(129)
Cash used for discontinued operations				(129)
Net change in cash and cash equivalents			347	184
Cash and cash equivalents at beginning of period			1,314	1,095
Cash and cash equivalents at end of period	$ 1,661	$ 1,279	$ 1,661	$ 1,279