S&P Global (SPGI) 8-K Operating Results - Reported vs. Performance Revised to Reflect Recast Segment Information

Exhibit 99

S&P Global

Operating Results - Reported vs. Performance Revised to Reflect Recast Segment Information

Periods ended September 30, 2016

(dollars in millions, except per share amounts)

(unaudited)	2016
		Q1											Q2
		Reported			Non-GAAP Adjustments			Deal-Related Amortization		Performance			Reported			Non-GAAP Adjustments			Deal-Related Amortization		Performance
Ratings		$	262		$	(12	)	$	1	$	252		$	396		$	(29	)	$	1	$	369
Market and Commodities Intelligence		183			27			22		230			186			10			21		216
Indices		101			—			1		102			100			—			1		101
Segment operating profit		546			15			24		584			682			(19		)	23		686
Unallocated expense		(34		)	—			—		(34		)	(31		)	(3		)	—		(34		)
Operating profit		512			15			24		550			651			(22		)	23		652
Interest expense, net		40			—			—		40			42			—			—		42
Income before taxes on income		472			15			24		510			609			(22		)	23		610
Provision for taxes on income		149			5			8		161			197			(9		)	8		196
Net income		323			10			16		349			412			(13		)	15		414
Less: NCI net income		(29		)	—			—		(29		)	(29		)	—			—		(29		)
Net income attributable to SPGI		$	294		$	10		$	16	$	320		$	383		$	(13	)	$	15	$	385
Diluted EPS		$	1.10		$	0.04		$	0.06	$	1.20		$	1.44		$	(0.05	)	$	0.06	$	1.44
		Q3											Nine Months
		Reported			Non-GAAP Adjustments			Deal-Related Amortization		Performance			Reported			Non-GAAP Adjustments			Deal-Related Amortization		Performance
Ratings		$	346		$	(17	)	$	1	$	330		$	1,004		$	(57	)	$	4	$	951
Market and Commodities Intelligence		924			(715		)	21		229			1,293			(680		)	63		675
Indices		107			—			1		108			308			—			4		312
Segment operating profit		1,377			(732		)	23		667			2,605			(737		)	71		1,938
Unallocated expense		(29		)	—			—		(29		)	(93		)	(3		)	—		(96		)
Operating profit		1,348			(732		)	23		638			2,512			(740		)	71		1,842
Interest expense, net		39			—			—		39			122			—			—		122
Income before taxes on income		1,309			(732		)	23		599			2,390			(740		)	71		1,720
Provision for taxes on income		386			(206		)	8		187			731			(211		)	25		544
Net income		923			(526		)	15		412			1,659			(529		)	46		1,176
Less: NCI net income		(31		)	—			—		(31		)	(90		)	—			—		(90		)
Net income attributable to SPGI		$	892		$	(526	)	$	15	$	381		$	1,569		$	(529	)	$	46	$	1,086
Diluted EPS		$	3.36		$	(1.99	)	$	0.06	$	1.43		$	5.89		$	(1.99	)	$	0.17	$	4.08

Note - Totals presented may not sum due to rounding.

Exhibit 99

S&P Global

Operating Results - Reported vs. Performance Revised to Reflect Recast Segment Information

Periods ended December 31, 2015

(dollars in millions, except per share amounts)

(unaudited)	2015
		Q1											Q2
		Reported			Non-GAAP Adjustments			Deal-Related Amortization		Performance			Reported			Non-GAAP Adjustments			Deal-Related Amortization		Performance
Ratings		$	291		$	(6	)	$	1	$	286		$	361		$	(33	)	$	1	$	330
Market and Commodities Intelligence		148			—			9		157			150			13			9		171
Indices		95			—			1		97			96			—			1		97
Segment operating profit		534			(6		)	11		540			607			(20		)	11		598
Unallocated expense		(33		)	—			—		(33		)	(25		)	(10		)	—		(35		)
Operating profit		501			(6		)	11		507			582			(30		)	11		563
Interest expense, net		16			—			—		16			16			—			—		16
Income before taxes on income		485			(6		)	11		491			566			(30		)	11		547
Provision for taxes on income		156			(2		)	4		158			185			(12		)	4		177
Net income		329			(4		)	7		333			381			(18		)	7		370
Less: NCI net income		(26		)	—			—		(26		)	(28		)	—			—		(28		)
Net income attributable to SPGI		$	303		$	(4	)	$	7	$	307		$	353		$	(18	)	$	7	$	342
Diluted EPS		$	1.10		$	(0.01	)	$	0.03	$	1.11		$	1.28		$	(0.07	)	$	0.03	$	1.24
		Q3											Q4
		Reported			Non-GAAP Adjustments			Deal-Related Amortization		Performance			Reported			Non-GAAP Adjustments			Deal-Related Amortization		Performance
Ratings		$	194		$	86		$	1	$	281		$	232		$	20		$	2	$	254
Market and Commodities Intelligence		146			32			15		192			142			25			24		190
Indices		106			—			1		108			94			—			1		96
Segment operating profit		446			118			17		581			468			45			27		540
Unallocated expense		(36		)	—			—		(36		)	(44		)	9			—		(35		)
Operating profit		410			118			17		545			424			54			27		505
Interest expense, net		30			—			—		30			40			—			—		40
Income before taxes on income		380			118			17		515			384			54			27		465
Provision for taxes on income		99			45			6		150			108			18			7		133
Net income		281			73			11		365			276			36			20		332
Less: NCI net income		(29		)	—			—		(29		)	(28		)	—			—		(28		)
Net income attributable to SPGI		$	252		$	73		$	11	$	336		$	248		$	36		$	20	$	304
Diluted EPS		$	0.92		$	0.27		$	0.04	$	1.22		$	0.91		$	0.13		$	0.07	$	1.12
		Full Year
		Reported			Non-GAAP Adjustments			Deal-Related Amortization		Performance
Ratings		$	1,078		$	68		$	5	$	1,151
Market and Commodities Intelligence		585			70			57		712
Indices		392			—			5		397
Segment operating profit		2,055			138			67		2,260
Unallocated expense		(138		)	(2		)	—		(139		)
Operating profit		1,917			136			67		2,121
Interest expense, net		102			—			—		102
Income before taxes on income		1,815			136			67		2,019
Provision for taxes on income		547			48			23		619
Net income		1,268			88			44		1,400
Less: NCI net income		(112		)	—			—		(112		)
Net income attributable to SPGI		$	1,156		$	88		$	44	$	1,288
Diluted EPS		$	4.21		$	0.32		$	0.16	$	4.69

Note - Totals presented may not sum due to rounding.