S&P Global (SPGI) 10-Q 27 Jul 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares shares in Millions	6 Months Ended
	Jun. 30, 2017	Jul. 21, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	S&P Global Inc.
Entity Central Index Key	64,040
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		257

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Statement [Abstract]
Revenue	$ 1,509	$ 1,482	$ 2,962	$ 2,823
Expenses:
Operating-related expenses	449	469	861	923
Selling and general expenses	338	317	689	650
Depreciation	20	22	39	40
Amortization of intangibles	25	23	49	47
Total expenses	832	831	1,638	1,660
Operating profit	677	651	1,324	1,163
Interest expense, net	37	42	74	83
Income before taxes on income	640	609	1,250	1,080
Provision for taxes on income	183	197	363	345
Net income	457	412	887	735
Less: net income attributable to noncontrolling interests	(36)	(29)	(67)	(58)
Net income attributable to S&P Global Inc.	$ 421	$ 383	$ 820	$ 677
Net income:
Basic (in dollars per share)	$ 1.63	$ 1.45	$ 3.18	$ 2.56
Diluted (in dollars per share)	$ 1.62	$ 1.44	$ 3.15	$ 2.54
Weighted-average number of common shares outstanding:
Basic (in shares)	257.3	264.5	257.7	264.7
Diluted (in shares)	259.9	266.7	260.4	267
Actual shares outstanding at period end (in shares)			257	263.9
Dividend declared per common share (in dollars per share)	$ 0.41	$ 0.36	$ 0.82	$ 0.72

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 457	$ 412	$ 887	$ 735
Other comprehensive income:
Foreign currency translation adjustment	42	(54)	72	(40)
Income tax effect	0	(1)	0	(1)
Foreign currency translation adjustment, net of income tax effect	42	(55)	72	(41)
Pension and other postretirement benefit plans	0	12	4	16
Income tax effect	2	(3)	1	(4)
Pension and other post-retirement benefit plans, net of income tax effect	2	9	5	12
Unrealized (loss) gain on investment and forward exchange contracts	(10)	(1)	(3)	3
Income tax effect	2	0	0	(1)
Unrealized gain (loss) on forward exchange contracts, net of income tax effect	(8)	(1)	(3)	2
Comprehensive income	493	365	961	708
Less: comprehensive income attributable to nonredeemable noncontrolling interests	(5)	(2)	(6)	(5)
Less: comprehensive income attributable to redeemable noncontrolling interests	(31)	(27)	(61)	(53)
Comprehensive income attributable to S&P Global Inc.	$ 457	$ 336	$ 894	$ 650

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 2,384	$ 2,392
Accounts receivable, net of allowance for doubtful accounts: 2017 - $32; 2016 - $28	1,166	1,122
Prepaid and other current assets	173	157
Total current assets	3,723	3,671
Property and equipment, net of accumulated depreciation: 2017 - $532; 2016 - $537	264	271
Goodwill	2,982	2,949
Other intangible assets, net	1,442	1,506
Other non-current assets	380	272
Total assets	8,791	8,669
Current liabilities:
Accounts payable	162	183
Accrued compensation and contributions to retirement plans	294	409
Income taxes currently payable	79	95
Unearned revenue	1,502	1,509
Other current liabilities	325	415
Total current liabilities	2,362	2,611
Long-term debt	3,566	3,564
Pension and other postretirement benefits	269	274
Other non-current liabilities	414	439
Total liabilities	6,611	6,888
Redeemable noncontrolling interest (Note 8)	1,107	1,080
Commitments and contingencies (Note 12)
Equity:
Common stock	412	412
Additional paid-in capital	490	502
Retained income	9,816	9,210
Accumulated other comprehensive loss	(699)	(773)
Less: common stock in treasury	(9,000)	(8,701)
Total equity — controlling interests	1,019	650
Total equity — noncontrolling interests	54	51
Total equity	1,073	701
Total liabilities and equity	$ 8,791	$ 8,669

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 32	$ 28
Accumulated depreciation	$ 532	$ 537

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Operating Activities:
Net income	$ 887	$ 735
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	39	40
Amortization of intangibles	49	47
Provision for losses on accounts receivable	13	8
Stock-based compensation	41	34
Other	26	43
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable	(49)	(39)
Prepaid and other current assets	(13)	(14)
Accounts payable and accrued expenses	(139)	(171)
Unearned revenue	(17)	38
Accrued legal settlements	(4)	(108)
Other current liabilities	(85)	(21)
Net change in prepaid/accrued income taxes	(45)	92
Net change in other assets and liabilities	(29)	(44)
Cash provided by operating activities	674	640
Investing Activities:
Capital expenditures	(56)	(36)
Acquisitions, net of cash acquired	(70)	(52)
Proceeds from dispositions	2	0
Cash used for investing activities	(124)	(88)
Financing Activities:
Additions to short-term debt, net	0	166
Dividends paid to shareholders	(212)	(191)
Distributions to noncontrolling interest holders	(54)	(57)
Repurchase of treasury shares	(346)	(373)
Exercise of stock options	38	65
Employee withholding tax on share-based payments	(44)	(50)
Cash used for financing activities	(618)	(440)
Effect of exchange rate changes on cash from continuing operations	60	(26)
Net change in cash and cash equivalents	(8)	86
Cash and cash equivalents at beginning of period	2,392	1,481
Cash and cash equivalents at end of period	$ 2,384	$ 1,567

Consolidated Statement of Equit

Consolidated Statement of Equity (Unaudited) - 6 months ended Jun. 30, 2017 - 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, 2016 at Dec. 31, 2016		$ 701	$ 412	$ 502	$ 9,210	$ (773)	$ 8,701	$ 650	$ 51
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income 1	[1]	900			820	74		894	6
Dividends		(218)			(212)			(212)	(6)
Share repurchases		(346)					346	(346)
Employee stock plans		35		(12)			(47)	35
Change in redemption value of redeemable noncontrolling interest		(2)			(2)			(2)
Other		3							3
Balance as of June 30, 2017 at Jun. 30, 2017		$ 1,073	$ 412	$ 490	$ 9,816	$ (699)	$ 9,000	$ 1,019	$ 54
[1]	Excludes $61 million attributable to our redeemable noncontrolling interest.

Consolidated Statement of Equi8

Consolidated Statement of Equity (Unaudited) (Parenthetical) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)
Statement of Stockholders' Equity [Abstract]
Net income attributable to noncontrolling interest	$ (61)

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	6 Months Ended
	Jun. 30, 2017
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. Our operations consist of three reportable segments: Ratings, Market and Commodities Intelligence and S&P Dow Jones Indices ("Indices"). • Ratings is an independent provider of credit ratings, research, and analytics, offering investors and other market participants information, ratings and benchmarks. • Market and Commodities Intelligence is a global provider of multi-asset-class data, research and analytical capabilities, which integrate cross-asset analytics and desktop services and deliver their customers in the commodity and energy markets access to high-value information, data, analytic services and pricing and quality benchmarks. On September 7, 2016, we completed the sale of J.D. Power with the results included in Market and Commodities Intelligence results through that date. • Indices is a global index provider that maintains a wide variety of valuation and index benchmarks for investment advisors, wealth managers and institutional investors. 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, 2016 (our “Form 10-K”). Certain prior-year amounts have been reclassified to conform with current presentation. In the opinion of management, all normal recurring adjustments considered necessary for a fair statement of the results of the interim periods have been included. The operating results for the three and six months ended June 30, 2017 are not necessarily indicative of the results that may be expected for the full year. Our critical accounting estimates are disclosed in Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations , in our Form 10-K. On an ongoing basis, we evaluate our estimates and assumptions, including those related to revenue recognition, allowance for doubtful accounts, valuation of long-lived assets, goodwill and other intangible assets, pension plans, incentive compensation and stock-based compensation, income taxes, contingencies and redeemable noncontrolling interests. Since the date of our Form 10-K, there have been no material changes to our critical accounting policies and estimates.

Acquisitions and Divestitures

Acquisitions and Divestitures	6 Months Ended
	Jun. 30, 2017
Business Combinations [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures Acquisitions In June of 2017, CRISIL, included within our Ratings segment, acquired 8.9% of the outstanding shares of CARE Ratings Limited ("CARE") from Canara Bank. CARE is a Securities and Exchange Board of India registered credit rating agency providing various rating and grading services in India whose shares are publicly traded on both the Bombay Stock Exchange and the National Stock Exchange of India. We accounted for the investment in CARE as available-for-sale using the fair value method of accounting. The investment balance as of June 30,2017 of $65 million is included in other non-current assets in our consolidated balance sheet. The investment in CARE is not material to our consolidated financial statements. In June of 2016, 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 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. In June of 2016, Market and Commodities Intelligence acquired RigData, a provider of daily information on rig activity for the natural gas and oil markets across North America. The purchase enhances Market and Commodities Intelligence's 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, Market and Commodities Intelligence acquired Commodity Flow, a specialist technology and business intelligence service for the global waterborne commodity and energy markets. The purchase helps extend Market and Commodities Intelligence's 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. Divestitures In April of 2017, we signed a letter of intent to sell our facility at East Windsor, New Jersey. The fixed assets of the facility of $5 million have been classified as held for sale, which is included in prepaid and other current assets in our consolidated balance sheet as of June 30, 2017. In January of 2017, we completed the sale of Quant House SAS ("QuantHouse"), included in our Market and Commodities Intelligence segment, to QH Holdco, an independent third party. In November of 2016, we entered into a put option agreement that gave the Company the right, but not the obligation, to put the entire share capital of QuantHouse to QH Holdco. As a result, we classified the assets and liabilities of QuantHouse, net of our costs to sell, as held for sale, which is included in prepaid and other current assets and other current liabilities, respectively, in our consolidated balance sheet as of December 31, 2016. On January 4, 2017, we exercised the put option, thereby entering into a definitive agreement to sell QuantHouse to QH Holdco. On January 9, 2017, we completed the sale of QuantHouse to QH Holdco. Following the sale, the assets and liabilities of QuantHouse are no longer reported in our consolidated balance sheet as of June 30, 2017. The components of assets and liabilities held for sale related to QuantHouse in the consolidated balance sheet consist of the following: (in millions) December 31, 2016 Accounts receivable, net $ 4 Other assets 3 Assets of a business held for sale $ 7 Accounts payable and accrued expenses $ 3 Unearned revenue 7 Other liabilities 35 Liabilities of a business held for sale $ 45 The operating loss of our business that was disposed of for the periods ended June 30, 2017 and 2016 is as follows: (in millions) Three Months Six Months 2017 2016 2017 2016 Operating loss $ — $ (5 ) $ — $ (12 ) During the six months ended June 30, 2016, we did not complete any dispositions.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective income tax rate was 28.6% and 29.1% for the three and six months ended June 30, 2017 , respectively, and 32.3% and 31.9% for the three and six months ended June 30, 2016 , respectively. The decrease in 2017 was primarily due to the recognition of excess tax benefits associated with share-based payments in the statement of income, the resolution of tax audits and a benefit from an acquisition-related adjustment. 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 or unusual 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. The Company is continuously subject to tax examinations in various jurisdictions. As of June 30, 2017 and December 31, 2016 , the total amount of federal, state and local, and foreign unrecognized tax benefits was $139 million and $161 million , respectively, exclusive of interest and penalties. We recognize accrued interest and penalties related to unrecognized tax benefits in interest expense and operating-related expense, respectively. In addition, as of June 30, 2017 and December 31, 2016 , we had $49 million and $44 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 on the balance sheet may be reduced by up to approximately $32 million in the next twelve months as a result of the resolution of local tax examinations. In November of 2015, the Financial Accounting Standards Board ("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 was permitted. We early adopted this guidance in the fourth quarter of 2016, prospectively, and accordingly prior year amounts have not been reclassified.

Debt

Debt	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Debt	Debt (in millions) June 30, December 31, 2.5% Senior Notes, due 2018 1 $ 399 $ 398 3.3% Senior Notes, due 2020 2 696 696 4.0% Senior Notes, due 2025 3 691 691 4.4% Senior Notes, due 2026 4 892 891 2.95% Senior Notes, due 2027 5 492 492 6.55% Senior Notes, due 2037 6 396 396 Commercial paper — — Total debt 3,566 3,564 Less: short-term debt including current maturities — — Long-term debt $ 3,566 $ 3,564 1 Interest payments are due semiannually on February 15 and August 15, and as of June 30, 2017 , the unamortized debt discount and issuance costs total $1 million . 2 Interest payments are due semiannually on February 14 and August 14, and as of June 30, 2017 , the unamortized debt discount and issuance costs total $4 million . 3 Interest payments are due semiannually on June 15 and December 15, and as of June 30, 2017 , the unamortized debt discount and issuance costs total $9 million . 4 Interest payments are due semiannually on February 15 and August 15, and as of June 30, 2017 , the unamortized debt discount and issuance costs total $8 million . 5 Interest payments are due semiannually on January 22 and July 22, and as of June 30, 2017 , the unamortized debt discount and issuance costs total $8 million . 6 Interest payments are due semiannually on May 15 and November 15, and as of June 30, 2017 , the unamortized debt discount and issuance costs total $4 million . The fair value of our long-term debt borrowings was $ 3.8 billion and $3.7 billion as of June 30, 2017 and December 31, 2016 , respectively, and was estimated based on quoted market prices. On June 30, 2017, we entered into a revolving $1.2 billion five -year credit agreement (our "credit facility") that will terminate on June 30, 2022. This credit facility replaced our $1.2 billion five year credit facility that was scheduled to terminate on June 30, 2020. The previous credit facility was canceled immediately after the new credit facility became effective. There were no outstanding borrowings under the previous credit facility when it was replaced. We have the ability to borrow a total of $1.2 billion through our commercial paper program, which is supported by our credit facility. As of June 30, 2017 and December 31, 2016 , there were no commercial paper borrowings outstanding. Depending on our indebtedness to cash flow ratio, we pay a commitment fee of 8 to 17.5 basis points for our credit facility, whether or not amounts have been borrowed. We currently pay a commitment fee of 12.5 basis points. The interest rate on borrowings under our credit facility is, at our option, calculated using rates that are primarily based on either the prevailing London Inter-Bank Offer Rate, the prime rate determined by the administrative agent or the Federal Funds Rate. For certain borrowings under this credit facility, there is also a spread based on our indebtedness to cash flow ratio added to the applicable rate. Our credit facility contains certain covenants. The only financial covenant requires that our indebtedness to cash flow ratio, as defined in our credit facility, is not greater than 4 to 1 , and this covenant level has never been exceeded.

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments Cash Flow Hedges Our exposure to market risk includes changes in foreign exchange rates. We have operations in foreign countries where the functional currency is primarily the local currency. For international operations that are determined to be extensions of the parent company, the U.S. dollar is the functional currency. We typically have naturally hedged positions in most countries from a local currency perspective with offsetting assets and liabilities. As of June 30, 2017 and December 31, 2016 , 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, 2017, we entered into a series of foreign exchange forward contracts to hedge a portion of our Indian rupee, British pound, and euro exposures through the fourth quarter of 2017. These contracts are intended to offset the impact of movement of exchange rates on future revenue and operating costs and are scheduled to mature within twelve months. 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 revenue and selling and general expenses in the same period that the hedged transaction affects earnings. 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 were intended to offset the impact of movement of exchange rates on future operating costs and matured at the end of each quarter during 2016. The changes in the fair value of these contracts were initially reported in accumulated other comprehensive loss in our consolidated balance sheet and were subsequently reclassified into selling and general expenses in the same period that the hedge contract matured. As of June 30, 2017 , we estimate that $1 million of the net gains related to derivatives designated as cash flow hedges recorded in other comprehensive income (loss) is expected to be reclassified into earnings within the next twelve months. There was no material hedge ineffectiveness for the three and six months ended June 30, 2017 and 2016 . As of June 30, 2017 and June 30, 2016 , the aggregate notional value of our outstanding foreign currency forward contracts was $192 million and $96 million , respectively. The following table provides information on the location and fair value amounts of our cash flow hedges as of June 30, 2017 and December 31, 2016 : (in millions) Balance Sheet Location June 30, 2017 December 31, 2016 Prepaid and other current assets 1 Foreign exchange forward contracts $ 3 $ 3 1 Foreign currency forward contracts are recorded at fair value that is based on foreign currency exchange rates in active markets; therefore we classify these derivative contracts as Level 2. The following table provides information on the location and amounts of pre-tax gains (losses) on our cash flow hedges for the periods ended June 30 : Three Months (in millions) Gain (Loss) Recognized in Accumulated Other Comprehensive Loss (effective portion) Location of Gain Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion) Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion) Cash flow hedges - designated as hedging instruments 2017 2016 2017 2016 Foreign exchange forward contracts $ (6 ) $ (1 ) Selling and general expenses $ 3 $ 1 Six Months (in millions) Gain (Loss) Recognized in Accumulated Other Comprehensive Loss (effective portion) Location of Gain Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion) Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion) Cash flow hedges - designated as hedging instruments 2017 2016 2017 2016 Foreign exchange forward contracts $ (1 ) $ 2 Selling and general expenses $ 4 $ 2 The activity related to the change in unrealized gains (losses) in accumulated other comprehensive loss was as follows for the periods ended June 30 : (in millions) Three Months Six Months 2017 2016 2017 2016 Net unrealized gains (losses) on cash flow hedges, net of taxes, beginning of period $ 7 $ 2 $ 2 $ (1 ) Change in fair value, net of tax (3 ) — 3 4 Reclassification into earnings, net of tax (3 ) (1 ) (4 ) (2 ) Net unrealized gains on cash flow hedges, net of taxes, end of period $ 1 $ 1 $ 1 $ 1

Employee Benefits

Employee Benefits	6 Months Ended
	Jun. 30, 2017
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 cost (credit) for our retirement plans and postretirement plans for the periods ended June 30 are as follows: Retirement Plans (in millions) Three Months Six Months 2017 2016 2017 2016 Service cost $ 1 $ 1 $ 1 $ 1 Interest cost 19 19 37 39 Expected return on assets (32 ) (31 ) (63 ) (61 ) Amortization of actuarial loss 4 4 9 8 Net periodic benefit cost $ (8 ) $ (7 ) $ (16 ) $ (13 ) Postretirement Plans (in millions) Three Months Six Months 2017 2016 2017 2016 Service cost $ — $ — $ — $ — Interest cost — 1 1 1 Amortization of prior service credit / actuarial gain (1 ) (1 ) (2 ) (1 ) Net periodic benefit cost $ (1 ) $ — $ (1 ) $ — As discussed in our Form 10-K, we changed certain discount rate assumptions on our retirement and postretirement plans, which became effective on January 1, 2017. The effect of the assumption changes on retirement and postretirement expense for the three and six months ended June 30, 2017 did not have a material impact to our financial position, results of operations or cash flows. In the first six months of 2017 , we contributed $4 million to our retirement plans and expect to make additional required contributions of approximately $4 million to our retirement plans during the remainder of the year. We may elect to make additional non-required contributions depending on investment performance and the pension plan status in the remaining second half of 2017 .

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation We issue stock-based incentive awards to our eligible employees and Directors under the 2002 Employee Stock Incentive Plan and a Director Deferred Stock Ownership Plan. The 2002 Employee Stock Incentive Plan permits the granting of nonqualified stock options, stock appreciation rights, performance stock, restricted stock and other stock-based awards. Stock-based compensation for the periods ended June 30 is as follows: (in millions) Three Months Six Months 2017 2016 2017 2016 Stock option expense $ — $ 2 $ 2 $ 4 Restricted stock and unit awards expense 21 18 39 30 Total stock-based compensation expense $ 21 $ 20 $ 41 $ 34 During the six months ended June 30, 2017 , the Company granted 0.4 million shares of restricted stock and unit awards, which had a weighted average grant date fair value of $129.47 per share. Total unrecognized compensation expense related to unvested restricted stock and unit awards as of June 30, 2017 was $88 million , which is expected to be recognized over a weighted average period of 1.9 years .

Equity

Equity	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Equity	Equity Stock Repurchases On December 4, 2013, the Board of Directors approved a share repurchase program authorizing the purchase of 50 million shares, which was approximately 18% of the total shares of our outstanding common stock at that time. In any period, share repurchase transactions could result in timing differences between the recognition of those repurchases and their settlement for cash. This could result in a difference between the cash used for financing activities related to common stock repurchased and the comparable change in equity. Share repurchases for the periods ended June 30 were as follows: (in millions, except average price) Three Months Six Months 2017 2016 2017 2016 Total number of shares purchased 1.1 1.4 2.6 3.5 Average price paid per share 1 $ 137.49 $ 107.74 $ 133.01 $ 98.05 Total cash utilized 1 $ 145 $ 147 $ 346 $ 347 1 In December of 2015, 0.3 million shares were repurchased for approximately $26 million , which settled in January of 2016. Cash used for financing activities only reflects those shares which settled during the six months ended June 30, 2016 resulting in $373 million of cash used to repurchase shares. Our purchased shares may be used for general corporate purposes, including the issuance of shares for stock compensation plans and to offset the dilutive effect of the exercise of employee stock options. As of June 30, 2017 , approximately 23.2 million shares remained available under the current share repurchase program which has no expiration date and purchases under this program may be made from time to time on the open market and in private transactions, depending on market conditions. Redeemable Noncontrolling Interests The agreement with the minority partners that own 27% of our S&P Dow Jones Indices LLC joint venture contains redemption features whereby interests held by minority partners are redeemable either (i) at the option of the holder or (ii) upon the occurrence of an event that is not solely within our control. Specifically, under the terms of the operating agreement of S&P Dow Jones Indices LLC, after December 31, 2017, CME Group and CME Group Index Services LLC ("CGIS") will have the right at any time to sell, and we are obligated to buy, at least 20% of their share in S&P Dow Jones Indices LLC. In addition, in the event there is a change of control of the Company, for the 15 days following a change in control, CME Group and CGIS will have the right to put their interest to us at the then fair value of CME Group's and CGIS' minority interest. If interests were to be redeemed under this agreement, we would generally be required to purchase the interest at fair value on the date of redemption. This interest is presented on the consolidated balance sheets outside of equity under the caption “Redeemable noncontrolling interest” with an initial value based on fair value for the portion attributable to the net assets we acquired, and based on our historical cost for the portion attributable to our S&P Index business. We adjust the redeemable noncontrolling interest each reporting period to its estimated redemption value, but never less than its initial fair value, considering a combination of an income and market valuation approach. Our income and market valuation approaches may incorporate Level 3 fair value measures for instances when observable inputs are not available, including assumptions related to expected future net cash flows, long-term growth rates, the timing and nature of tax attributes, and the redemption features. Any adjustments to the redemption value will impact retained income. Noncontrolling interests that do not contain such redemption features are presented in equity. Changes to redeemable noncontrolling interest during the six months ended June 30, 2017 were as follows: (in millions) Balance as of December 31, 2016 $ 1,080 Net income attributable to noncontrolling interest 61 Distributions payable to noncontrolling interest (36 ) Redemption value adjustment 2 Balance as of June 30, 2017 $ 1,107 Accumulated Other Comprehensive Loss The following table summarizes the changes in the components of accumulated other comprehensive loss for the six months ended June 30, 2017 : (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, 2016 $ (332 ) $ (443 ) $ 2 $ (773 ) Other comprehensive income before reclassifications 72 (1 ) 1 72 Reclassifications from accumulated other comprehensive loss to net earnings — 6 1 (4 ) 2 2 Net other comprehensive income 72 5 (3 ) 74 Balance as of June 30, 2017 $ (260 ) $ (438 ) $ (1 ) $ (699 ) 1 See Note 6 — Employee Benefits for additional details of items reclassed from accumulated other comprehensive loss to net earnings. 2 See Note 5 — Derivative Instruments for additional details of items reclassed from accumulated other comprehensive loss to net earnings. The net actuarial loss and prior service cost related to pension and other postretirement benefit plans included in other comprehensive income is net of a tax provision of $2 million for the six months ended June 30, 2017 .

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per common share (“EPS”) is computed by dividing net income attributable to the common shareholders of the Company by the weighted-average number of common shares outstanding. Diluted EPS is computed in the same manner as basic EPS, except the number of shares is increased to include additional common shares that would have been outstanding if potential common shares with a dilutive effect had been issued. Potential common shares consist primarily of stock options and restricted performance shares calculated using the treasury stock method. The calculation for basic and diluted EPS for the periods ended June 30 is as follows: (in millions, except per share amounts) Three Months Six Months 2017 2016 2017 2016 Amounts attributable to S&P Global Inc. common shareholders: Net income $ 421 $ 383 $ 820 $ 677 Basic weighted-average number of common shares outstanding 257.3 264.5 257.7 264.7 Effect of stock options and other dilutive securities 2.6 2.2 2.7 2.3 Diluted weighted-average number of common shares outstanding 259.9 266.7 260.4 267.0 Earnings per share attributable to S&P Global Inc. common shareholders: Net income: Basic $ 1.63 $ 1.45 $ 3.18 $ 2.56 Diluted $ 1.62 $ 1.44 $ 3.15 $ 2.54 We have certain stock options and restricted performance shares that are potentially excluded from the computation of diluted EPS. The effect of the potential exercise of stock options is excluded when the average market price of our common stock is lower than the exercise price of the related option during the period or when a net loss exists because the effect would have been antidilutive. Additionally, restricted performance shares are excluded because the necessary vesting conditions had not been met or when a net loss exists. For the three and six months ended June 30, 2017 and 2016 , there were no stock options excluded. Restricted performance shares outstanding of 0.9 million and 1.2 million as of June 30, 2017 and 2016 , respectively, were excluded.

Restructuring

Restructuring	6 Months Ended
	Jun. 30, 2017
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring During 2017 and 2016, 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 2017 and 2016 restructuring plans consisted of a company-wide workforce reduction of approximately 120 and 230 positions, respectively, and are further detailed below. The charges for the restructuring plan are classified as selling and general expenses within the consolidated statements of income and the reserves are included in other current liabilities in the consolidated balance sheets. In certain circumstances, reserves are no longer needed because of efficiencies in carrying out the plans or because employees previously identified for separation resigned from the Company and did not receive severance or were reassigned due to circumstances not foreseen when the original plans were initiated. In these cases, we reverse reserves through the consolidated statements of income during the period when it is determined they are no longer needed. The initial restructuring charge recorded and the ending reserve balance as of June 30, 2017 by segment is as follows: 2017 Restructuring Plans 2016 Restructuring Plans (in millions) Initial Charge Recorded Ending Reserve Balance Initial Charge Recorded Ending Reserve Balance Ratings $ — $ — $ 14 $ 7 Market and Commodities Intelligence 5 4 10 4 Indices — — 1 — Corporate — — 5 3 Total $ 5 $ 4 $ 30 $ 14 We recorded a pre-tax restructuring charge of $5 million related to employee severance charges for the 2017 restructuring plan during the six months ended June 30, 2017 and have reduced the reserve by $1 million . The ending reserve balance for the 2016 restructuring plan was $23 million as of December 31, 2016. For the six months ended June 30, 2017 , we have reduced the reserve for the 2016 restructuring plan by $9 million . The reductions primarily related to cash payments for employee severance charges.

Segment and Related Information

Segment and Related Information	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Segment and Related Information	Segment and Related Information We have three reportable segments: Ratings, Market and Commodities Intelligence and Indices. Our Chief Executive Officer is our chief operating decision-maker and evaluates performance of our segments and allocates resources based primarily on operating profit. Segment operating profit does not include unallocated expense or interest expense as these are costs that do not affect the operating results of our segments. A summary of operating results by segment for the periods ended June 30 is as follows: Three Months 2017 2016 (in millions) Revenue Operating Profit Revenue Operating Profit Ratings 1 $ 747 $ 397 $ 682 $ 396 Market and Commodities Intelligence 2 606 191 671 186 Indices 3 184 119 153 100 Intersegment elimination 4 (28 ) — (24 ) — Total operating segments 1,509 707 1,482 682 Unallocated expense 5 — (30 ) — (31 ) Total $ 1,509 $ 677 $ 1,482 $ 651 Six Months 2017 2016 (in millions) Revenue Operating Profit Revenue Operating Profit Ratings 1 $ 1,461 $ 773 $ 1,234 $ 658 Market and Commodities Intelligence 2 1,199 378 1,333 369 Indices 3 355 233 304 200 Intersegment elimination 4 (53 ) — (48 ) — Total operating segments 2,962 1,384 2,823 1,227 Unallocated expense 5 — (60 ) — (64 ) Total $ 2,962 $ 1,324 $ 2,823 $ 1,163 1 Operating profit for the six months ended June 30, 2017 includes legal settlement expenses of $2 million . Operating profit for the three and six months ended June 30, 2016 includes a benefit related to net legal settlement insurance recoveries of $34 million and $46 million , respectively, and employee severance charges of $6 million . Operating profit also includes amortization of intangibles from acquisitions of $1 million for the three months ended June 30, 2017 and 2016 and $2 million and $3 million for the six months ended June 30, 2017 and 2016 , respectively. 2 Operating profit includes a charge to exit a leased facility of $6 million , employee severance charges of $5 million and an asset write-off of $2 million for the three and six months ended June 30, 2017 and non-cash acquisition and disposition-related adjustments of $15 million for the six months ended June 30, 2017 . Operating profit includes disposition-related costs of $10 million and $12 million for the three and six months ended June 30, 2016 , respectively, and a technology-related impairment charge of $24 million for the six months ended June 30, 2016 . Operating profit also includes amortization of intangibles from acquisitions of $23 million and $21 million for the three months ended June 30, 2017 and 2016 , respectively, and $44 million and $41 million for the six months ended June 30, 2017 and 2016 , respectively. 3 Operating profit includes amortization of intangibles from acquisitions of $1 million for the three months ended June 30, 2017 and 2016 and $3 million for the six months ended June 30, 2017 and 2016 . 4 Revenue for Ratings and expenses for Market and Commodities Intelligence include an intersegment royalty charged to Market and Commodities Intelligence for the rights to use and distribute content and data developed by Ratings. 5 Operating profit for the three and six months ended June 30, 2016 includes $3 million from a disposition-related reserve release. The following provides revenue by geographic region for the periods ended June 30 : (in millions) Three Months Six Months 2017 2016 2017 2016 U.S. $ 922 $ 910 $ 1,813 $ 1,750 European region 360 339 706 636 Asia 142 156 275 293 Rest of the world 85 77 168 144 Total $ 1,509 $ 1,482 $ 2,962 $ 2,823 See Note 2 — Acquisitions and Divestitures and Note 10 — Restructuring for additional actions that impacted the segment operating results.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
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 Indices and CME Group. Under the terms of the License Agreement, S&P Dow Jones Indices LLC receives a share of the profits from the trading and clearing of CME Group's equity index products. During the three and six months ended June 30, 2017 , S&P Dow Jones Indices LLC earned $20 million and $38 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. With respect to the matters identified below, we have recognized a liability when both (a) information available indicates that it is probable that a liability has been incurred as of the date of these financial statements and (b) the amount of loss can reasonably be estimated. 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. Included in these civil cases are seven lawsuits in Australia against the Company and Standard & Poor’s International, LLC relating to alleged investment losses in collateralized debt obligations (“CDOs”) rated by S&P Global Ratings. Discovery in certain of these cases, including the Australia matters, 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. 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 In 2014, the prosecutor in the Italian city of Trani 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 were 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 on March 30, 2017, the court in Trani issued an oral verdict acquitting each of the individual defendants and Standard & Poor’s Credit Market Services Europe of all charges. The court will issue a written opinion supporting the verdict, and the prosecutor will then have the right to appeal. If the prosecutor appeals and the verdict is reversed, a conviction could result in criminal penalties, as well as 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, among other things, breach of fiduciary duty, waste of corporate assets, and mismanagement against the board of directors and certain former directors and employees of the Company. 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. 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. The complaint asserts claims for, among other things, 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 employees of the Company. The Grika matter was transferred to the judge presiding over the North Miami Beach matter. In December of 2016, the court issued orders granting motions to dismiss both the North Miami Beach and Grika matters. In January of 2017, the plaintiffs in both matters filed notices of appeal.

Recently Issued or Adopted Acco

Recently Issued or Adopted Accounting Standards	6 Months Ended
	Jun. 30, 2017
Accounting Changes and Error Corrections [Abstract]
Recently Issued or Adopted Accounting Standards	Recently Issued or Adopted Accounting Standards In May of 2017, FASB issued guidance that provides clarification on when modification accounting should be used for changes to the terms or conditions of a share-based payment award. This guidance does not change the accounting for modifications but clarifies when modification accounting guidance should be applied. Under the new guidance, an entity should apply modification accounting in response to a change in the terms and conditions of an entity's share-based payment awards unless three newly specified criteria are met. 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 2017, FASB issued guidance to enhance the presentation of net periodic pension cost and net periodic postretirement benefit cost. The guidance requires employers to report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period, and requires the other components of net periodic pension cost and net periodic postretirement benefit cost to be presented in the income statement separately from the service cost component outside a subtotal of income from operations, if one is presented. Additionally, only the service cost component is eligible for capitalization, when applicable. The guidance is effective for reporting periods beginning after December 15, 2017; however, early adoption is permitted. We are currently assessing the impact of this guidance on our consolidated financial statements. In January of 2017, the FASB issued guidance that simplifies the subsequent measurement of goodwill and eliminates Step 2 from the goodwill impairment test. Under the new guidance, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The guidance is effective for reporting periods beginning after December 15, 2019; however, early adoption is permitted. We do not expect this guidance to have a significant impact on our consolidated financial statements. In January of 2017, the FASB issued guidance that clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. 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 August of 2016, the 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 modify 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. This guidance requires recognizing excess tax benefits and deficiencies as income tax expense or benefit in the statement of income, instead of in equity. The guidance was effective on January 1, 2017 and was adopted as follows: 1) prospectively for the recognition of excess tax benefits and deficiencies in the tax provision, 2) retrospectively for the classification of excess tax benefits and deficiencies in the statement of cash flows, and 3) retrospectively for the classification of cash paid for shares withheld to satisfy employee taxes in the statement of cash flows. For the six months ended June 30, 2017, excess tax benefits from share-based payments of $17 million were recognized as an income tax benefit in our consolidated statements of income and classified as an operating activity in our consolidated statements of cash flows. For the six months ended June 30, 2016, we reclassified $19 million of excess tax benefits from share-based payments from a financing activity to an operating activity in our consolidated statements of cash flows. In addition, cash paid for shares withheld on the employees' behalf of $44 million was classified as a financing activity in our consolidated statements of cash flows for the six months ended June 30, 2017. Cash paid for employee taxes of $50 million was reclassified from an operating activity to a financing activity in our consolidated statements of cash flows for the six months ended June 30, 2016. 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 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. 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. The new guidance will be effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. We are currently anticipating using the modified retrospective transition method and evaluating the impact that the adoption of this standard will have on our consolidated financial statements. We are continuing our evaluation of potential changes to our accounting policies, business processes, systems and internal controls to support the recognition and disclosure requirements under the new standard. At this point, we believe the new standard will have an impact on: 1) the accounting for certain long-term deferred revenue in our Ratings segment which may contain a financing component, 2) the accounting for fees for certain Ratings products that are currently recognized over time or at a point in time to match when the customer obtains control of the product, 3) for presentation of sales of certain of our jointly-owned products in or Market and Commodities Intelligence segment, revenue will be recognized on a gross rather than net basis, and 4) the capitalization of costs to obtain a contract and the related amortization period of those costs. We do not expect that these changes from the adoption of this standard will have a significant impact on our consolidated financial statements.

Condensed Consolidating Financi

Condensed Consolidating Financial Statements	6 Months Ended
	Jun. 30, 2017
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. 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. See Note 4 — Debt for additional information. The senior notes described above are fully and unconditionally guaranteed by Standard & Poor's Financial Services LLC, a 100% owned subsidiary of the Company. The following condensed consolidating financial statements present the results of operations, financial position and cash flows of S&P Global Inc., Standard & Poor's Financial Services LLC, and the Non-Guarantor Subsidiaries of S&P Global Inc. and Standard & Poor's Financial Services LLC, and the eliminations necessary to arrive at the information for the Company on a consolidated basis. Statement of Income Three Months Ended June 30, 2017 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 181 $ 447 $ 916 $ (35 ) $ 1,509 Expenses: Operating-related expenses 39 115 330 (35 ) 449 Selling and general expenses 26 83 229 — 338 Depreciation 8 3 9 — 20 Amortization of intangibles — — 25 — 25 Total expenses 73 201 593 (35 ) 832 Operating profit 108 246 323 — 677 Interest expense (income), net 40 — (3 ) — 37 Non-operating intercompany transactions 93 (22 ) (726 ) 655 — Income before taxes on income (25 ) 268 1,052 (655 ) 640 (Benefit) provision for taxes on income (36 ) 119 100 — 183 Equity in net income of subsidiaries 1,064 — — (1,064 ) — Net income $ 1,075 $ 149 $ 952 $ (1,719 ) $ 457 Less: net income attributable to noncontrolling interests — — — (36 ) (36 ) Net income attributable to S&P Global Inc. $ 1,075 $ 149 $ 952 $ (1,755 ) $ 421 Comprehensive income $ 1,085 $ 148 $ 972 $ (1,712 ) $ 493 Statement of Income Six Months Ended June 30, 2017 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 361 $ 885 $ 1,783 $ (67 ) $ 2,962 Expenses: Operating-related expenses 71 234 623 (67 ) 861 Selling and general expenses 45 172 472 — 689 Depreciation 15 5 19 — 39 Amortization of intangibles — — 49 — 49 Total expenses 131 411 1,163 (67 ) 1,638 Operating profit 230 474 620 — 1,324 Interest expense (income), net 79 — (5 ) — 74 Non-operating intercompany transactions 175 (41 ) (1,626 ) 1,492 — Income before taxes on income (24 ) 515 2,251 (1,492 ) 1,250 (Benefit) provision for taxes on income (47 ) 218 192 — 363 Equity in net income of subsidiaries 2,288 — — (2,288 ) — Net income $ 2,311 $ 297 $ 2,059 $ (3,780 ) $ 887 Less: net income attributable to noncontrolling interests — — — (67 ) (67 ) Net income attributable to S&P Global Inc. $ 2,311 $ 297 $ 2,059 $ (3,847 ) $ 820 Comprehensive income $ 2,323 $ 296 $ 2,118 $ (3,776 ) $ 961 Statement of Income Three Months Ended June 30, 2016 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 171 $ 413 $ 930 $ (32 ) $ 1,482 Expenses: Operating-related expenses 26 93 382 (32 ) 469 Selling and general expenses 33 62 222 — 317 Depreciation 10 2 10 — 22 Amortization of intangibles — — 23 — 23 Total expenses 69 157 637 (32 ) 831 Operating profit 102 256 293 — 651 Interest expense (income), net 44 — (2 ) — 42 Non-operating intercompany transactions 95 (37 ) (199 ) 141 — (Loss) income before taxes on income (37 ) 293 494 (141 ) 609 (Benefit) provision for taxes on income (17 ) 111 103 — 197 Equity in net income of subsidiaries 617 72 — (689 ) — Net income $ 597 $ 254 $ 391 $ (830 ) $ 412 Less: net income attributable to noncontrolling interests — — — (29 ) (29 ) Net income attributable to S&P Global Inc. $ 597 $ 254 $ 391 $ (859 ) $ 383 Comprehensive income $ 545 $ 261 $ 409 $ (850 ) $ 365 Statement of Income Six Months Ended June 30, 2016 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 342 $ 754 $ 1,789 $ (62 ) $ 2,823 Expenses: Operating-related expenses 49 231 705 (62 ) 923 Selling and general expenses 54 97 499 — 650 Depreciation 19 5 16 — 40 Amortization of intangibles — — 47 — 47 Total expenses 122 333 1,267 (62 ) 1,660 Operating profit 220 421 522 — 1,163 Interest expense (income), net 86 — (3 ) — 83 Non-operating intercompany transactions 169 (42 ) (697 ) 570 — (Loss) income before taxes on income (35 ) 463 1,222 (570 ) 1,080 (Benefit) provision for taxes on income (18 ) 167 196 — 345 Equity in net income of subsidiaries 1,408 144 — (1,552 ) — Net income $ 1,391 $ 440 $ 1,026 $ (2,122 ) $ 735 Less: net income attributable to noncontrolling interests — — — (58 ) (58 ) Net income attributable to S&P Global Inc. $ 1,391 $ 440 $ 1,026 $ (2,180 ) $ 677 Comprehensive income $ 1,347 $ 446 $ 1,055 $ (2,140 ) $ 708 Balance Sheet June 30, 2017 (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 $ 509 $ — $ 1,875 $ — $ 2,384 Accounts receivable, net of allowance for doubtful accounts 123 191 852 — 1,166 Intercompany receivable 679 1,498 1,982 (4,159 ) — Prepaid and other current assets 96 (2 ) 79 — 173 Total current assets 1,407 1,687 4,788 (4,159 ) 3,723 Property and equipment, net of accumulated depreciation 148 1 115 — 264 Goodwill 260 — 2,706 16 2,982 Other intangible assets, net — — 1,442 — 1,442 Investments in subsidiaries 6,681 5 8,920 (15,606 ) — Intercompany loans receivable 109 — 1,075 (1,184 ) — Other non-current assets 165 29 186 — 380 Total assets $ 8,770 $ 1,722 $ 19,232 $ (20,933 ) $ 8,791 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 57 $ 14 $ 91 $ — $ 162 Intercompany payable 2,604 443 1,111 (4,158 ) — Accrued compensation and contributions to retirement plans 104 47 143 — 294 Income taxes currently payable 8 — 71 — 79 Unearned revenue 274 220 1,008 — 1,502 Other current liabilities 137 12 176 — 325 Total current liabilities 3,184 736 2,600 (4,158 ) 2,362 Long-term debt 3,566 — — — 3,566 Intercompany loans payable 103 — 1,081 (1,184 ) — Pension and other postretirement benefits 198 — 71 — 269 Other non-current liabilities 40 70 304 — 414 Total liabilities 7,091 806 4,056 (5,342 ) 6,611 Redeemable noncontrolling interest — — — 1,107 1,107 Equity: Common stock 412 — 2,292 (2,292 ) 412 Additional paid-in capital (211 ) 588 11,392 (11,279 ) 490 Retained income 10,759 328 1,986 (3,257 ) 9,816 Accumulated other comprehensive loss (281 ) — (467 ) 49 (699 ) Less: common stock in treasury (9,000 ) — (28 ) 28 (9,000 ) Total equity - controlling interests 1,679 916 15,175 (16,751 ) 1,019 Total equity - noncontrolling interests — — 1 53 54 Total equity 1,679 916 15,176 (16,698 ) 1,073 Total liabilities and equity $ 8,770 $ 1,722 $ 19,232 $ (20,933 ) $ 8,791 Balance Sheet December 31, 2016 (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 $ 711 $ — $ 1,681 $ — $ 2,392 Accounts receivable, net of allowance for doubtful accounts 138 131 853 — 1,122 Intercompany receivable (165 ) 837 870 (1,542 ) — Prepaid and other current assets 77 2 79 (1 ) 157 Total current assets 761 970 3,483 (1,543 ) 3,671 Property and equipment, net of accumulated depreciation 159 1 111 — 271 Goodwill 261 — 2,679 9 2,949 Other intangible assets, net — — 1,506 — 1,506 Investments in subsidiaries 5,464 680 7,826 (13,970 ) — Intercompany loans receivable 17 — 1,354 (1,371 ) — Other non-current assets 134 24 114 — 272 Total assets $ 6,796 $ 1,675 $ 17,073 $ (16,875 ) $ 8,669 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 73 $ 22 $ 88 $ — $ 183 Intercompany payable 1,324 40 177 (1,541 ) — Accrued compensation and contributions to retirement plans 129 69 211 — 409 Income taxes currently payable 43 — 52 — 95 Unearned revenue 273 191 1,045 — 1,509 Other current liabilities 165 (51 ) 301 — 415 Total current liabilities 2,007 271 1,874 (1,541 ) 2,611 Long-term debt 3,564 — — — 3,564 Intercompany loans payable 11 — 1,360 (1,371 ) — Pension and other postretirement benefits 196 — 78 — 274 Other non-current liabilities 52 74 314 (1 ) 439 Total liabilities 5,830 345 3,626 (2,913 ) 6,888 Redeemable noncontrolling interest — — — 1,080 1,080 Equity: Common stock 412 — 2,460 (2,460 ) 412 Additional paid-in capital (174 ) 1,154 10,485 (10,963 ) 502 Retained income 9,721 176 1,034 (1,721 ) 9,210 Accumulated other comprehensive loss (292 ) — (525 ) 44 (773 ) Less: common stock in treasury (8,701 ) — (7 ) 7 (8,701 ) Total equity - controlling interests 966 1,330 13,447 (15,093 ) 650 Total equity - noncontrolling interests — — — 51 51 Total equity 966 1,330 13,447 (15,042 ) 701 Total liabilities and equity $ 6,796 $ 1,675 $ 17,073 $ (16,875 ) $ 8,669 Statement of Cash Flows Six Months Ended June 30, 2017 (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 $ 2,311 $ 297 $ 2,059 $ (3,780 ) $ 887 Adjustments to reconcile net income to cash provided by operating activities: Depreciation 15 5 19 — 39 Amortization of intangibles — — 49 — 49 Provision for losses on accounts receivable — 4 9 — 13 Stock-based compensation 14 10 17 — 41 Other 17 — 9 — 26 Changes in operating assets and liabilities, net of effect of acquisitions and dispositions: Accounts receivable 14 (63 ) — — (49 ) Prepaid and other current assets (18 ) 3 2 — (13 ) Accounts payable and accrued expenses (40 ) 34 (133 ) — (139 ) Unearned revenue 1 28 (46 ) — (17 ) Accrued legal settlements — (1 ) (3 ) — (4 ) Other current liabilities (33 ) (4 ) (48 ) — (85 ) Net change in prepaid/accrued income taxes (55 ) — 10 — (45 ) Net change in other assets and liabilities (17 ) 1 (13 ) — (29 ) Cash provided by operating activities 2,209 314 1,931 (3,780 ) 674 Investing Activities: Capital expenditures (19 ) (10 ) (27 ) — (56 ) Acquisitions, net of cash acquired — — (70 ) — (70 ) Proceeds from dispositions — — 2 — 2 Cash used for investing activities (19 ) (10 ) (95 ) — (124 ) Financing Activities: Dividends paid to shareholders (212 ) — — — (212 ) Distributions to noncontrolling interest holders — — (54 ) — (54 ) Repurchase of treasury shares (346 ) — — — (346 ) Exercise of stock options 38 — — — 38 Employee withholding tax on share-based payments (44 ) — — — (44 ) Intercompany financing activities (1,842 ) (304 ) (1,634 ) 3,780 — Cash used for financing activities (2,406 ) (304 ) (1,688 ) 3,780 (618 ) Effect of exchange rate changes on cash from continuing operations 14 — 46 — 60 Net change in cash and cash equivalents (202 ) — 194 — (8 ) Cash and cash equivalents at beginning of period 711 — 1,681 — 2,392 Cash and cash equivalents at end of period $ 509 $ — $ 1,875 $ — $ 2,384 Statement of Cash Flows Six Months Ended June 30, 2016 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Operating Activities: Net income $ 1,391 $ 440 $ 1,026 $ (2,122 ) $ 735 Adjustments to reconcile net income to cash provided by operating activities: Depreciation 19 5 16 — 40 Amortization of intangibles — — 47 — 47 Provision for losses on accounts receivable 1 1 6 — 8 Stock-based compensation 10 7 17 — 34 Other (1 ) 8 36 — 43 Changes in operating assets and liabilities, net of effect of acquisitions and dispositions: Accounts receivable (7 ) 148 (180 ) — (39 ) Prepaid and other current assets (21 ) 13 (6 ) — (14 ) Accounts payable and accrued expenses (26 ) (98 ) (47 ) — (171 ) Unearned revenue 18 (375 ) 395 — 38 Accrued legal settlements — (108 ) — — (108 ) Other current liabilities (23 ) (25 ) 27 — (21 ) Net change in prepaid/accrued income taxes 83 — 9 — 92 Net change in other assets and liabilities (31 ) 27 (40 ) — (44 ) Cash provided by operating activities 1,413 43 1,306 (2,122 ) 640 Investing Activities: Capital expenditures (16 ) (7 ) (13 ) — (36 ) Acquisitions, net of cash acquired (40 ) — (12 ) — (52 ) Cash used for investing activities (56 ) (7 ) (25 ) — (88 ) Financing Activities: Additions to short-term debt, net 166 — — — 166 Dividends paid to shareholders (191 ) — — — (191 ) Distributions to noncontrolling interest holders — — (57 ) — (57 ) Repurchase of treasury shares (373 ) — — — (373 ) Exercise of stock options 64 — 1 — 65 Employee withholding tax on share-based payments (50 ) — — — (50 ) Intercompany financing activities (1,038 ) (36 ) (1,048 ) 2,122 — Cash used for financing activities (1,422 ) (36 ) (1,104 ) 2,122 (440 ) Effect of exchange rate changes on cash from continuing operations (40 ) — 14 — (26 ) Net change in cash and cash equivalents (105 ) — 191 — 86 Cash and cash equivalents at beginning of period 167 — 1,314 — 1,481 Cash and cash equivalents at end of period $ 62 $ — $ 1,505 $ — $ 1,567

Nature of Operations and Basi23

Nature of Operations and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	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, 2016 (our “Form 10-K”). Certain prior-year amounts have been reclassified to conform with current presentation. In the opinion of management, all normal recurring adjustments considered necessary for a fair statement of the results of the interim periods have been included. The operating results for the three and six months ended June 30, 2017 are not necessarily indicative of the results that may be expected for the full year.
Use of Estimates	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.
Recently Issued or Adopted Accounting Standards	Recently Issued or Adopted Accounting Standards In May of 2017, FASB issued guidance that provides clarification on when modification accounting should be used for changes to the terms or conditions of a share-based payment award. This guidance does not change the accounting for modifications but clarifies when modification accounting guidance should be applied. Under the new guidance, an entity should apply modification accounting in response to a change in the terms and conditions of an entity's share-based payment awards unless three newly specified criteria are met. 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 2017, FASB issued guidance to enhance the presentation of net periodic pension cost and net periodic postretirement benefit cost. The guidance requires employers to report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period, and requires the other components of net periodic pension cost and net periodic postretirement benefit cost to be presented in the income statement separately from the service cost component outside a subtotal of income from operations, if one is presented. Additionally, only the service cost component is eligible for capitalization, when applicable. The guidance is effective for reporting periods beginning after December 15, 2017; however, early adoption is permitted. We are currently assessing the impact of this guidance on our consolidated financial statements. In January of 2017, the FASB issued guidance that simplifies the subsequent measurement of goodwill and eliminates Step 2 from the goodwill impairment test. Under the new guidance, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The guidance is effective for reporting periods beginning after December 15, 2019; however, early adoption is permitted. We do not expect this guidance to have a significant impact on our consolidated financial statements. In January of 2017, the FASB issued guidance that clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. 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 August of 2016, the 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 modify 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. This guidance requires recognizing excess tax benefits and deficiencies as income tax expense or benefit in the statement of income, instead of in equity. The guidance was effective on January 1, 2017 and was adopted as follows: 1) prospectively for the recognition of excess tax benefits and deficiencies in the tax provision, 2) retrospectively for the classification of excess tax benefits and deficiencies in the statement of cash flows, and 3) retrospectively for the classification of cash paid for shares withheld to satisfy employee taxes in the statement of cash flows. For the six months ended June 30, 2017, excess tax benefits from share-based payments of $17 million were recognized as an income tax benefit in our consolidated statements of income and classified as an operating activity in our consolidated statements of cash flows. For the six months ended June 30, 2016, we reclassified $19 million of excess tax benefits from share-based payments from a financing activity to an operating activity in our consolidated statements of cash flows. In addition, cash paid for shares withheld on the employees' behalf of $44 million was classified as a financing activity in our consolidated statements of cash flows for the six months ended June 30, 2017. Cash paid for employee taxes of $50 million was reclassified from an operating activity to a financing activity in our consolidated statements of cash flows for the six months ended June 30, 2016. 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 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. 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. The new guidance will be effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. We are currently anticipating using the modified retrospective transition method and evaluating the impact that the adoption of this standard will have on our consolidated financial statements. We are continuing our evaluation of potential changes to our accounting policies, business processes, systems and internal controls to support the recognition and disclosure requirements under the new standard. At this point, we believe the new standard will have an impact on: 1) the accounting for certain long-term deferred revenue in our Ratings segment which may contain a financing component, 2) the accounting for fees for certain Ratings products that are currently recognized over time or at a point in time to match when the customer obtains control of the product, 3) for presentation of sales of certain of our jointly-owned products in or Market and Commodities Intelligence segment, revenue will be recognized on a gross rather than net basis, and 4) the capitalization of costs to obtain a contract and the related amortization period of those costs. We do not expect that these changes from the adoption of this standard will have a significant impact on our consolidated financial statements.

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	6 Months Ended
	Jun. 30, 2017
Business Combinations [Abstract]
Components of assets and liabilities, and operating loss, of businesses held for sale	The components of assets and liabilities held for sale related to QuantHouse in the consolidated balance sheet consist of the following: (in millions) December 31, 2016 Accounts receivable, net $ 4 Other assets 3 Assets of a business held for sale $ 7 Accounts payable and accrued expenses $ 3 Unearned revenue 7 Other liabilities 35 Liabilities of a business held for sale $ 45 The operating loss of our business that was disposed of for the periods ended June 30, 2017 and 2016 is as follows: (in millions) Three Months Six Months 2017 2016 2017 2016 Operating loss $ — $ (5 ) $ — $ (12 )

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Schedule of debt	(in millions) June 30, December 31, 2.5% Senior Notes, due 2018 1 $ 399 $ 398 3.3% Senior Notes, due 2020 2 696 696 4.0% Senior Notes, due 2025 3 691 691 4.4% Senior Notes, due 2026 4 892 891 2.95% Senior Notes, due 2027 5 492 492 6.55% Senior Notes, due 2037 6 396 396 Commercial paper — — Total debt 3,566 3,564 Less: short-term debt including current maturities — — Long-term debt $ 3,566 $ 3,564 1 Interest payments are due semiannually on February 15 and August 15, and as of June 30, 2017 , the unamortized debt discount and issuance costs total $1 million . 2 Interest payments are due semiannually on February 14 and August 14, and as of June 30, 2017 , the unamortized debt discount and issuance costs total $4 million . 3 Interest payments are due semiannually on June 15 and December 15, and as of June 30, 2017 , the unamortized debt discount and issuance costs total $9 million . 4 Interest payments are due semiannually on February 15 and August 15, and as of June 30, 2017 , the unamortized debt discount and issuance costs total $8 million . 5 Interest payments are due semiannually on January 22 and July 22, and as of June 30, 2017 , the unamortized debt discount and issuance costs total $8 million . 6 Interest payments are due semiannually on May 15 and November 15, and as of June 30, 2017 , the unamortized debt discount and issuance costs total $4 million .

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of the location and fair value amounts of cash flow hedges	The following table provides information on the location and fair value amounts of our cash flow hedges as of June 30, 2017 and December 31, 2016 : (in millions) Balance Sheet Location June 30, 2017 December 31, 2016 Prepaid and other current assets 1 Foreign exchange forward contracts $ 3 $ 3 1 Foreign currency forward contracts are recorded at fair value that is based on foreign currency exchange rates in active markets; therefore we classify these derivative contracts as Level 2.
Schedule of the location and amounts of pre-tax gains (losses) on cash flow hedges	The following table provides information on the location and amounts of pre-tax gains (losses) on our cash flow hedges for the periods ended June 30 : Three Months (in millions) Gain (Loss) Recognized in Accumulated Other Comprehensive Loss (effective portion) Location of Gain Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion) Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion) Cash flow hedges - designated as hedging instruments 2017 2016 2017 2016 Foreign exchange forward contracts $ (6 ) $ (1 ) Selling and general expenses $ 3 $ 1 Six Months (in millions) Gain (Loss) Recognized in Accumulated Other Comprehensive Loss (effective portion) Location of Gain Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion) Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion) Cash flow hedges - designated as hedging instruments 2017 2016 2017 2016 Foreign exchange forward contracts $ (1 ) $ 2 Selling and general expenses $ 4 $ 2
Change in unrealized gains (losses) in accumulated other comprehensive loss	The activity related to the change in unrealized gains (losses) in accumulated other comprehensive loss was as follows for the periods ended June 30 : (in millions) Three Months Six Months 2017 2016 2017 2016 Net unrealized gains (losses) on cash flow hedges, net of taxes, beginning of period $ 7 $ 2 $ 2 $ (1 ) Change in fair value, net of tax (3 ) — 3 4 Reclassification into earnings, net of tax (3 ) (1 ) (4 ) (2 ) Net unrealized gains on cash flow hedges, net of taxes, end of period $ 1 $ 1 $ 1 $ 1

Employee Benefits (Tables)

Employee Benefits (Tables)	6 Months Ended
	Jun. 30, 2017
Compensation and Retirement Disclosure [Abstract]
Components of net periodic benefit cost (credit) for our retirement plans and postretirement plans	The components of net periodic benefit cost (credit) for our retirement plans and postretirement plans for the periods ended June 30 are as follows: Retirement Plans (in millions) Three Months Six Months 2017 2016 2017 2016 Service cost $ 1 $ 1 $ 1 $ 1 Interest cost 19 19 37 39 Expected return on assets (32 ) (31 ) (63 ) (61 ) Amortization of actuarial loss 4 4 9 8 Net periodic benefit cost $ (8 ) $ (7 ) $ (16 ) $ (13 ) Postretirement Plans (in millions) Three Months Six Months 2017 2016 2017 2016 Service cost $ — $ — $ — $ — Interest cost — 1 1 1 Amortization of prior service credit / actuarial gain (1 ) (1 ) (2 ) (1 ) Net periodic benefit cost $ (1 ) $ — $ (1 ) $ —

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based compensation	Stock-based compensation for the periods ended June 30 is as follows: (in millions) Three Months Six Months 2017 2016 2017 2016 Stock option expense $ — $ 2 $ 2 $ 4 Restricted stock and unit awards expense 21 18 39 30 Total stock-based compensation expense $ 21 $ 20 $ 41 $ 34

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Schedule of share repurchases	Share repurchases for the periods ended June 30 were as follows: (in millions, except average price) Three Months Six Months 2017 2016 2017 2016 Total number of shares purchased 1.1 1.4 2.6 3.5 Average price paid per share 1 $ 137.49 $ 107.74 $ 133.01 $ 98.05 Total cash utilized 1 $ 145 $ 147 $ 346 $ 347 1 In December of 2015, 0.3 million shares were repurchased for approximately $26 million , which settled in January of 2016. Cash used for financing activities only reflects those shares which settled during the six months ended June 30, 2016 resulting in $373 million of cash used to repurchase shares.
Schedule of redeemable noncontrolling interest	Changes to redeemable noncontrolling interest during the six months ended June 30, 2017 were as follows: (in millions) Balance as of December 31, 2016 $ 1,080 Net income attributable to noncontrolling interest 61 Distributions payable to noncontrolling interest (36 ) Redemption value adjustment 2 Balance as of June 30, 2017 $ 1,107
Schedule of changes in the components of accumulated other comprehensive loss	The following table summarizes the changes in the components of accumulated other comprehensive loss for the six months ended June 30, 2017 : (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, 2016 $ (332 ) $ (443 ) $ 2 $ (773 ) Other comprehensive income before reclassifications 72 (1 ) 1 72 Reclassifications from accumulated other comprehensive loss to net earnings — 6 1 (4 ) 2 2 Net other comprehensive income 72 5 (3 ) 74 Balance as of June 30, 2017 $ (260 ) $ (438 ) $ (1 ) $ (699 ) 1 See Note 6 — Employee Benefits for additional details of items reclassed from accumulated other comprehensive loss to net earnings. 2 See Note 5 — Derivative Instruments for additional details of items reclassed from accumulated other comprehensive loss to net earnings.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Schedule of calculation for basic and diluted EPS	The calculation for basic and diluted EPS for the periods ended June 30 is as follows: (in millions, except per share amounts) Three Months Six Months 2017 2016 2017 2016 Amounts attributable to S&P Global Inc. common shareholders: Net income $ 421 $ 383 $ 820 $ 677 Basic weighted-average number of common shares outstanding 257.3 264.5 257.7 264.7 Effect of stock options and other dilutive securities 2.6 2.2 2.7 2.3 Diluted weighted-average number of common shares outstanding 259.9 266.7 260.4 267.0 Earnings per share attributable to S&P Global Inc. common shareholders: Net income: Basic $ 1.63 $ 1.45 $ 3.18 $ 2.56 Diluted $ 1.62 $ 1.44 $ 3.15 $ 2.54

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Jun. 30, 2017
Restructuring and Related Activities [Abstract]
Schedule of initial restructuring charge recorded and the ending reserve balance	The initial restructuring charge recorded and the ending reserve balance as of June 30, 2017 by segment is as follows: 2017 Restructuring Plans 2016 Restructuring Plans (in millions) Initial Charge Recorded Ending Reserve Balance Initial Charge Recorded Ending Reserve Balance Ratings $ — $ — $ 14 $ 7 Market and Commodities Intelligence 5 4 10 4 Indices — — 1 — Corporate — — 5 3 Total $ 5 $ 4 $ 30 $ 14

Segment and Related Informati32

Segment and Related Information (Tables)	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Schedule of operating results by segment	A summary of operating results by segment for the periods ended June 30 is as follows: Three Months 2017 2016 (in millions) Revenue Operating Profit Revenue Operating Profit Ratings 1 $ 747 $ 397 $ 682 $ 396 Market and Commodities Intelligence 2 606 191 671 186 Indices 3 184 119 153 100 Intersegment elimination 4 (28 ) — (24 ) — Total operating segments 1,509 707 1,482 682 Unallocated expense 5 — (30 ) — (31 ) Total $ 1,509 $ 677 $ 1,482 $ 651 Six Months 2017 2016 (in millions) Revenue Operating Profit Revenue Operating Profit Ratings 1 $ 1,461 $ 773 $ 1,234 $ 658 Market and Commodities Intelligence 2 1,199 378 1,333 369 Indices 3 355 233 304 200 Intersegment elimination 4 (53 ) — (48 ) — Total operating segments 2,962 1,384 2,823 1,227 Unallocated expense 5 — (60 ) — (64 ) Total $ 2,962 $ 1,324 $ 2,823 $ 1,163 1 Operating profit for the six months ended June 30, 2017 includes legal settlement expenses of $2 million . Operating profit for the three and six months ended June 30, 2016 includes a benefit related to net legal settlement insurance recoveries of $34 million and $46 million , respectively, and employee severance charges of $6 million . Operating profit also includes amortization of intangibles from acquisitions of $1 million for the three months ended June 30, 2017 and 2016 and $2 million and $3 million for the six months ended June 30, 2017 and 2016 , respectively. 2 Operating profit includes a charge to exit a leased facility of $6 million , employee severance charges of $5 million and an asset write-off of $2 million for the three and six months ended June 30, 2017 and non-cash acquisition and disposition-related adjustments of $15 million for the six months ended June 30, 2017 . Operating profit includes disposition-related costs of $10 million and $12 million for the three and six months ended June 30, 2016 , respectively, and a technology-related impairment charge of $24 million for the six months ended June 30, 2016 . Operating profit also includes amortization of intangibles from acquisitions of $23 million and $21 million for the three months ended June 30, 2017 and 2016 , respectively, and $44 million and $41 million for the six months ended June 30, 2017 and 2016 , respectively. 3 Operating profit includes amortization of intangibles from acquisitions of $1 million for the three months ended June 30, 2017 and 2016 and $3 million for the six months ended June 30, 2017 and 2016 . 4 Revenue for Ratings and expenses for Market and Commodities Intelligence include an intersegment royalty charged to Market and Commodities Intelligence for the rights to use and distribute content and data developed by Ratings. 5 Operating profit for the three and six months ended June 30, 2016 includes $3 million from a disposition-related reserve release.
Revenue by geographic region	The following provides revenue by geographic region for the periods ended June 30 : (in millions) Three Months Six Months 2017 2016 2017 2016 U.S. $ 922 $ 910 $ 1,813 $ 1,750 European region 360 339 706 636 Asia 142 156 275 293 Rest of the world 85 77 168 144 Total $ 1,509 $ 1,482 $ 2,962 $ 2,823

Condensed Consolidating Finan33

Condensed Consolidating Financial Statements (Tables)	6 Months Ended
	Jun. 30, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Statement of Income	Statement of Income Three Months Ended June 30, 2017 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 181 $ 447 $ 916 $ (35 ) $ 1,509 Expenses: Operating-related expenses 39 115 330 (35 ) 449 Selling and general expenses 26 83 229 — 338 Depreciation 8 3 9 — 20 Amortization of intangibles — — 25 — 25 Total expenses 73 201 593 (35 ) 832 Operating profit 108 246 323 — 677 Interest expense (income), net 40 — (3 ) — 37 Non-operating intercompany transactions 93 (22 ) (726 ) 655 — Income before taxes on income (25 ) 268 1,052 (655 ) 640 (Benefit) provision for taxes on income (36 ) 119 100 — 183 Equity in net income of subsidiaries 1,064 — — (1,064 ) — Net income $ 1,075 $ 149 $ 952 $ (1,719 ) $ 457 Less: net income attributable to noncontrolling interests — — — (36 ) (36 ) Net income attributable to S&P Global Inc. $ 1,075 $ 149 $ 952 $ (1,755 ) $ 421 Comprehensive income $ 1,085 $ 148 $ 972 $ (1,712 ) $ 493 Statement of Income Six Months Ended June 30, 2017 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 361 $ 885 $ 1,783 $ (67 ) $ 2,962 Expenses: Operating-related expenses 71 234 623 (67 ) 861 Selling and general expenses 45 172 472 — 689 Depreciation 15 5 19 — 39 Amortization of intangibles — — 49 — 49 Total expenses 131 411 1,163 (67 ) 1,638 Operating profit 230 474 620 — 1,324 Interest expense (income), net 79 — (5 ) — 74 Non-operating intercompany transactions 175 (41 ) (1,626 ) 1,492 — Income before taxes on income (24 ) 515 2,251 (1,492 ) 1,250 (Benefit) provision for taxes on income (47 ) 218 192 — 363 Equity in net income of subsidiaries 2,288 — — (2,288 ) — Net income $ 2,311 $ 297 $ 2,059 $ (3,780 ) $ 887 Less: net income attributable to noncontrolling interests — — — (67 ) (67 ) Net income attributable to S&P Global Inc. $ 2,311 $ 297 $ 2,059 $ (3,847 ) $ 820 Comprehensive income $ 2,323 $ 296 $ 2,118 $ (3,776 ) $ 961 Statement of Income Three Months Ended June 30, 2016 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 171 $ 413 $ 930 $ (32 ) $ 1,482 Expenses: Operating-related expenses 26 93 382 (32 ) 469 Selling and general expenses 33 62 222 — 317 Depreciation 10 2 10 — 22 Amortization of intangibles — — 23 — 23 Total expenses 69 157 637 (32 ) 831 Operating profit 102 256 293 — 651 Interest expense (income), net 44 — (2 ) — 42 Non-operating intercompany transactions 95 (37 ) (199 ) 141 — (Loss) income before taxes on income (37 ) 293 494 (141 ) 609 (Benefit) provision for taxes on income (17 ) 111 103 — 197 Equity in net income of subsidiaries 617 72 — (689 ) — Net income $ 597 $ 254 $ 391 $ (830 ) $ 412 Less: net income attributable to noncontrolling interests — — — (29 ) (29 ) Net income attributable to S&P Global Inc. $ 597 $ 254 $ 391 $ (859 ) $ 383 Comprehensive income $ 545 $ 261 $ 409 $ (850 ) $ 365 Statement of Income Six Months Ended June 30, 2016 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 342 $ 754 $ 1,789 $ (62 ) $ 2,823 Expenses: Operating-related expenses 49 231 705 (62 ) 923 Selling and general expenses 54 97 499 — 650 Depreciation 19 5 16 — 40 Amortization of intangibles — — 47 — 47 Total expenses 122 333 1,267 (62 ) 1,660 Operating profit 220 421 522 — 1,163 Interest expense (income), net 86 — (3 ) — 83 Non-operating intercompany transactions 169 (42 ) (697 ) 570 — (Loss) income before taxes on income (35 ) 463 1,222 (570 ) 1,080 (Benefit) provision for taxes on income (18 ) 167 196 — 345 Equity in net income of subsidiaries 1,408 144 — (1,552 ) — Net income $ 1,391 $ 440 $ 1,026 $ (2,122 ) $ 735 Less: net income attributable to noncontrolling interests — — — (58 ) (58 ) Net income attributable to S&P Global Inc. $ 1,391 $ 440 $ 1,026 $ (2,180 ) $ 677 Comprehensive income $ 1,347 $ 446 $ 1,055 $ (2,140 ) $ 708
Balance Sheet	Balance Sheet June 30, 2017 (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 $ 509 $ — $ 1,875 $ — $ 2,384 Accounts receivable, net of allowance for doubtful accounts 123 191 852 — 1,166 Intercompany receivable 679 1,498 1,982 (4,159 ) — Prepaid and other current assets 96 (2 ) 79 — 173 Total current assets 1,407 1,687 4,788 (4,159 ) 3,723 Property and equipment, net of accumulated depreciation 148 1 115 — 264 Goodwill 260 — 2,706 16 2,982 Other intangible assets, net — — 1,442 — 1,442 Investments in subsidiaries 6,681 5 8,920 (15,606 ) — Intercompany loans receivable 109 — 1,075 (1,184 ) — Other non-current assets 165 29 186 — 380 Total assets $ 8,770 $ 1,722 $ 19,232 $ (20,933 ) $ 8,791 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 57 $ 14 $ 91 $ — $ 162 Intercompany payable 2,604 443 1,111 (4,158 ) — Accrued compensation and contributions to retirement plans 104 47 143 — 294 Income taxes currently payable 8 — 71 — 79 Unearned revenue 274 220 1,008 — 1,502 Other current liabilities 137 12 176 — 325 Total current liabilities 3,184 736 2,600 (4,158 ) 2,362 Long-term debt 3,566 — — — 3,566 Intercompany loans payable 103 — 1,081 (1,184 ) — Pension and other postretirement benefits 198 — 71 — 269 Other non-current liabilities 40 70 304 — 414 Total liabilities 7,091 806 4,056 (5,342 ) 6,611 Redeemable noncontrolling interest — — — 1,107 1,107 Equity: Common stock 412 — 2,292 (2,292 ) 412 Additional paid-in capital (211 ) 588 11,392 (11,279 ) 490 Retained income 10,759 328 1,986 (3,257 ) 9,816 Accumulated other comprehensive loss (281 ) — (467 ) 49 (699 ) Less: common stock in treasury (9,000 ) — (28 ) 28 (9,000 ) Total equity - controlling interests 1,679 916 15,175 (16,751 ) 1,019 Total equity - noncontrolling interests — — 1 53 54 Total equity 1,679 916 15,176 (16,698 ) 1,073 Total liabilities and equity $ 8,770 $ 1,722 $ 19,232 $ (20,933 ) $ 8,791 Balance Sheet December 31, 2016 (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 $ 711 $ — $ 1,681 $ — $ 2,392 Accounts receivable, net of allowance for doubtful accounts 138 131 853 — 1,122 Intercompany receivable (165 ) 837 870 (1,542 ) — Prepaid and other current assets 77 2 79 (1 ) 157 Total current assets 761 970 3,483 (1,543 ) 3,671 Property and equipment, net of accumulated depreciation 159 1 111 — 271 Goodwill 261 — 2,679 9 2,949 Other intangible assets, net — — 1,506 — 1,506 Investments in subsidiaries 5,464 680 7,826 (13,970 ) — Intercompany loans receivable 17 — 1,354 (1,371 ) — Other non-current assets 134 24 114 — 272 Total assets $ 6,796 $ 1,675 $ 17,073 $ (16,875 ) $ 8,669 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 73 $ 22 $ 88 $ — $ 183 Intercompany payable 1,324 40 177 (1,541 ) — Accrued compensation and contributions to retirement plans 129 69 211 — 409 Income taxes currently payable 43 — 52 — 95 Unearned revenue 273 191 1,045 — 1,509 Other current liabilities 165 (51 ) 301 — 415 Total current liabilities 2,007 271 1,874 (1,541 ) 2,611 Long-term debt 3,564 — — — 3,564 Intercompany loans payable 11 — 1,360 (1,371 ) — Pension and other postretirement benefits 196 — 78 — 274 Other non-current liabilities 52 74 314 (1 ) 439 Total liabilities 5,830 345 3,626 (2,913 ) 6,888 Redeemable noncontrolling interest — — — 1,080 1,080 Equity: Common stock 412 — 2,460 (2,460 ) 412 Additional paid-in capital (174 ) 1,154 10,485 (10,963 ) 502 Retained income 9,721 176 1,034 (1,721 ) 9,210 Accumulated other comprehensive loss (292 ) — (525 ) 44 (773 ) Less: common stock in treasury (8,701 ) — (7 ) 7 (8,701 ) Total equity - controlling interests 966 1,330 13,447 (15,093 ) 650 Total equity - noncontrolling interests — — — 51 51 Total equity 966 1,330 13,447 (15,042 ) 701 Total liabilities and equity $ 6,796 $ 1,675 $ 17,073 $ (16,875 ) $ 8,669
Statement of Cash Flows	Statement of Cash Flows Six Months Ended June 30, 2017 (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 $ 2,311 $ 297 $ 2,059 $ (3,780 ) $ 887 Adjustments to reconcile net income to cash provided by operating activities: Depreciation 15 5 19 — 39 Amortization of intangibles — — 49 — 49 Provision for losses on accounts receivable — 4 9 — 13 Stock-based compensation 14 10 17 — 41 Other 17 — 9 — 26 Changes in operating assets and liabilities, net of effect of acquisitions and dispositions: Accounts receivable 14 (63 ) — — (49 ) Prepaid and other current assets (18 ) 3 2 — (13 ) Accounts payable and accrued expenses (40 ) 34 (133 ) — (139 ) Unearned revenue 1 28 (46 ) — (17 ) Accrued legal settlements — (1 ) (3 ) — (4 ) Other current liabilities (33 ) (4 ) (48 ) — (85 ) Net change in prepaid/accrued income taxes (55 ) — 10 — (45 ) Net change in other assets and liabilities (17 ) 1 (13 ) — (29 ) Cash provided by operating activities 2,209 314 1,931 (3,780 ) 674 Investing Activities: Capital expenditures (19 ) (10 ) (27 ) — (56 ) Acquisitions, net of cash acquired — — (70 ) — (70 ) Proceeds from dispositions — — 2 — 2 Cash used for investing activities (19 ) (10 ) (95 ) — (124 ) Financing Activities: Dividends paid to shareholders (212 ) — — — (212 ) Distributions to noncontrolling interest holders — — (54 ) — (54 ) Repurchase of treasury shares (346 ) — — — (346 ) Exercise of stock options 38 — — — 38 Employee withholding tax on share-based payments (44 ) — — — (44 ) Intercompany financing activities (1,842 ) (304 ) (1,634 ) 3,780 — Cash used for financing activities (2,406 ) (304 ) (1,688 ) 3,780 (618 ) Effect of exchange rate changes on cash from continuing operations 14 — 46 — 60 Net change in cash and cash equivalents (202 ) — 194 — (8 ) Cash and cash equivalents at beginning of period 711 — 1,681 — 2,392 Cash and cash equivalents at end of period $ 509 $ — $ 1,875 $ — $ 2,384 Statement of Cash Flows Six Months Ended June 30, 2016 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Operating Activities: Net income $ 1,391 $ 440 $ 1,026 $ (2,122 ) $ 735 Adjustments to reconcile net income to cash provided by operating activities: Depreciation 19 5 16 — 40 Amortization of intangibles — — 47 — 47 Provision for losses on accounts receivable 1 1 6 — 8 Stock-based compensation 10 7 17 — 34 Other (1 ) 8 36 — 43 Changes in operating assets and liabilities, net of effect of acquisitions and dispositions: Accounts receivable (7 ) 148 (180 ) — (39 ) Prepaid and other current assets (21 ) 13 (6 ) — (14 ) Accounts payable and accrued expenses (26 ) (98 ) (47 ) — (171 ) Unearned revenue 18 (375 ) 395 — 38 Accrued legal settlements — (108 ) — — (108 ) Other current liabilities (23 ) (25 ) 27 — (21 ) Net change in prepaid/accrued income taxes 83 — 9 — 92 Net change in other assets and liabilities (31 ) 27 (40 ) — (44 ) Cash provided by operating activities 1,413 43 1,306 (2,122 ) 640 Investing Activities: Capital expenditures (16 ) (7 ) (13 ) — (36 ) Acquisitions, net of cash acquired (40 ) — (12 ) — (52 ) Cash used for investing activities (56 ) (7 ) (25 ) — (88 ) Financing Activities: Additions to short-term debt, net 166 — — — 166 Dividends paid to shareholders (191 ) — — — (191 ) Distributions to noncontrolling interest holders — — (57 ) — (57 ) Repurchase of treasury shares (373 ) — — — (373 ) Exercise of stock options 64 — 1 — 65 Employee withholding tax on share-based payments (50 ) — — — (50 ) Intercompany financing activities (1,038 ) (36 ) (1,048 ) 2,122 — Cash used for financing activities (1,422 ) (36 ) (1,104 ) 2,122 (440 ) Effect of exchange rate changes on cash from continuing operations (40 ) — 14 — (26 ) Net change in cash and cash equivalents (105 ) — 191 — 86 Cash and cash equivalents at beginning of period 167 — 1,314 — 1,481 Cash and cash equivalents at end of period $ 62 $ — $ 1,505 $ — $ 1,567

Nature of Operations and Basi34

Nature of Operations and Basis of Presentation (Details)	6 Months Ended
	Jun. 30, 2017Segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	3

Acquisitions and Divestitures -

Acquisitions and Divestitures - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2017	Apr. 30, 2017	Jun. 30, 2016
Schedule of Equity Method Investments [Line Items]
Assets held for sale		$ 5
CARE Ratings Limited
Schedule of Equity Method Investments [Line Items]
Fair value method investment, ownership (as a percent)	8.90%
TRIS Rating Company Limited
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership (as a percent)			49.00%
Other Noncurrent Assets | CARE Ratings Limited
Schedule of Equity Method Investments [Line Items]
Investment balance	$ 65

Acquisitions and Divestitures36

Acquisitions and Divestitures - Components of Assets and Liabilities, and Operating Loss, of Businesses Held for Sale (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Operating Loss of Business Disposed of
Operating loss	$ 0	$ (5)	$ 0	$ (12)
Quant House SAS | Disposal Group, Held-for-sale, Not Discontinued Operations
Assets and Liabilities of Business Held for Sale
Accounts receivable, net					$ 4
Other assets					3
Assets of a business held for sale					7
Accounts payable and accrued expenses					3
Unearned revenue					7
Other liabilities					35
Liabilities of a business held for sale					$ 45

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	28.60%	32.30%	29.10%	31.90%
Unrecognized tax benefits	$ 139		$ 139		$ 161
Accrued interest and penalties associated with unrecognized tax benefits	49		49		$ 44
Reduction of unrecognized tax benefits is reasonably possible	$ 32		$ 32

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016	Sep. 22, 2016	May 26, 2015
Debt Instrument [Line Items]
Total debt	$ 3,566,000,000	$ 3,564,000,000
Less: short-term debt including current maturities	0	0
Long-term debt	3,566,000,000	3,564,000,000
Commercial paper | Five-Year Credit Agreement
Debt Instrument [Line Items]
Short-term debt	$ 0	0
Senior notes | 2.5% Senior Notes, due 2018
Debt Instrument [Line Items]
Stated interest rate	2.50%
Long-term debt	$ 399,000,000	398,000,000
Unamortized debt discount and issuance costs	$ 1,000,000
Senior notes | 3.3% Senior Notes, due 2020
Debt Instrument [Line Items]
Stated interest rate	3.30%
Long-term debt	$ 696,000,000	696,000,000
Unamortized debt discount and issuance costs	$ 4,000,000
Senior notes | 4.0% Senior Notes, due 2025
Debt Instrument [Line Items]
Stated interest rate	4.00%			4.00%
Long-term debt	$ 691,000,000	691,000,000
Unamortized debt discount and issuance costs	$ 9,000,000
Senior notes | 4.4% Senior Notes, due 2026
Debt Instrument [Line Items]
Stated interest rate	4.40%
Long-term debt	$ 892,000,000	891,000,000
Unamortized debt discount and issuance costs	$ 8,000,000
Senior notes | 2.95% Senior Notes, due 2027
Debt Instrument [Line Items]
Stated interest rate	2.95%		2.95%
Long-term debt	$ 492,000,000	492,000,000
Unamortized debt discount and issuance costs	$ 8,000,000
Senior notes | 6.55% Senior Notes, due 2037
Debt Instrument [Line Items]
Stated interest rate	6.55%
Long-term debt	$ 396,000,000	$ 396,000,000
Unamortized debt discount and issuance costs	$ 4,000,000

Debt - Narrative (Details)

Debt - Narrative (Details)	Jun. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
Long-term debt, fair value	$ 3,800,000,000	$ 3,800,000,000	$ 3,700,000,000
Five-Year Credit Agreement | Maximum
Debt Instrument [Line Items]
Indebtedness to cash flow (not greater than)		4
Five-Year Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	1,200,000,000	$ 1,200,000,000
Outstanding borrowings	$ 0	$ 0
Credit facility, term (in years)	5 years
Commitment fee		0.125%
Five-Year Credit Agreement | Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Commitment fee		0.08%
Five-Year Credit Agreement | Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Commitment fee		0.175%
Five-Year Credit Agreement | Commercial paper
Debt Instrument [Line Items]
Short-term debt	$ 0	$ 0	$ 0
Five Year Facility, Due June 30, 2020 | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 1,200,000,000	$ 1,200,000,000
Credit facility, term (in years)	5 years

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - Cash Flow Hedging - Designated as Hedging Instrument - Foreign exchange forward contracts - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Derivative [Line Items]
Net gains related to derivatives recorded in other comprehensive income (loss) expected to be reclassified into earnings	$ 1
Aggregate notional value	$ 192	$ 96

Derivative Instruments - Locati

Derivative Instruments - Location and Fair Values of Cash Flow Hedges (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Cash Flow Hedging | Foreign exchange forward contracts | Designated as Hedging Instrument | Prepaid and other current assets
Derivatives, Fair Value [Line Items]
Derivative, fair value	$ 3	$ 3

Derivative Instruments - Loca42

Derivative Instruments - Location and Amounts of Pre-Tax Gains (Losses) on Cash Flow Hedges (Details) - Foreign exchange forward contracts - Designated as Hedging Instrument - Cash Flow Hedging - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss (effective portion)	$ (6)	$ (1)	$ (1)	$ 2
Selling and general expenses
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion)	$ 3	$ 1	$ 4	$ 2

Derivative Instruments - Change

Derivative Instruments - Change in Unrealized (Losses) Gains in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Net unrealized gains (losses) on cash flow hedges, net of taxes, beginning of period			$ 650
Net unrealized gains on cash flow hedges, net of taxes, end of period	$ 1,019		1,019
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	7	$ 2	2	$ (1)
Change in fair value, net of tax	(3)	0	3	4
Reclassification into earnings, net of tax	(3)	(1)	(4)	(2)
Net unrealized gains on cash flow hedges, net of taxes, end of period	$ 1	$ 1	$ 1	$ 1

Employee Benefits - Components

Employee Benefits - Components of Net Periodic Benefit Cost (Credit) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Retirement Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1	$ 1	$ 1	$ 1
Interest cost	19	19	37	39
Expected return on plan assets	(32)	(31)	(63)	(61)
Amortization of actuarial loss	4	4	9	8
Net periodic benefit cost	(8)	(7)	(16)	(13)
Postretirement Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0	0	0
Interest cost	0	1	1	1
Amortization of actuarial loss	(1)	(1)	(2)	(1)
Net periodic benefit cost	$ (1)	$ 0	$ (1)	$ 0

Employee Benefits - Narrative (

Employee Benefits - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)
Compensation and Retirement Disclosure [Abstract]
Contribution towards retirement plans	$ 4
Expected contributions towards retirement plans, remainder of the year	$ 4

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 21	$ 20	$ 41	$ 34
Stock option expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	0	2	2	4
Restricted stock and unit awards expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	21	$ 18	$ 39	$ 30
Award grants (in shares)			0.4
Award grants, weighted average grant date fair value (in dollars per share)			$ 129.47
Unrecognized compensation expense	$ 88		$ 88
Unrecognized compensation expense, period for recognition			1 year 10 months 24 days

Equity - Narrative (Details)

Equity - Narrative (Details) - shares	6 Months Ended
	Jun. 30, 2017	Dec. 04, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum interest in joint venture (as a percent)	20.00%
Agreement terms, change of control, put option for minority interest ownership, effective period (in days)	15 days
2013 Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized for repurchase (in shares)		50,000,000
Shares authorized for repurchase, compared to total common stock outstanding (as a percent)		18.00%
Remaining shares available under repurchase program	23,200,000
S&P Dow Jones LLC
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Noncontrolling interest ownership by noncontrolling owners (as a percent)	27.00%

Equity - Schedule of share repu

Equity - Schedule of share repurchases (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares purchased	0.3	1.1	1.4	2.6	3.5
Average price paid per share (in dollars per share)		$ 137.49	$ 107.74	$ 133.01	$ 98.05
Total cash utilized	$ 26			$ 346
Cash used to repurchase shares				346	$ 373
Stock Repurchases
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash used to repurchase shares				373
Total SPGI Equity
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total cash utilized		$ 145	$ 147	$ 346	$ 347

Equity - Schedule of changes to

Equity - Schedule of changes to redeemable noncontrolling interest (Details) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)
Increase (Decrease) in Temporary Equity [Roll Forward]
Balance as of December 31, 2016	$ 1,080
Net income attributable to noncontrolling interest	61
Distributions payable to noncontrolling interest	(36)
Redemption value adjustment	2
Balance as of June 30, 2017	$ 1,107

Equity - Accumulated Other Comp

Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance as of December 31, 2016			$ 701
Balance as of June 30, 2017	$ 1,073		1,073
Pension and other postretirement benefit plans, tax	(2)	$ 3	(1)	$ 4
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance as of December 31, 2016			(332)
Other comprehensive income before reclassifications			72
Reclassifications from accumulated other comprehensive loss to net earnings			0
Net other comprehensive income			72
Balance as of June 30, 2017	(260)		(260)
Pension and Postretirement Benefit Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance as of December 31, 2016			(443)
Other comprehensive income before reclassifications			(1)
Reclassifications from accumulated other comprehensive loss to net earnings			6
Net other comprehensive income			5
Balance as of June 30, 2017	(438)		(438)
Pension and other postretirement benefit plans, tax			2
Unrealized Gain (Loss) on Forward Exchange Contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance as of December 31, 2016			2
Other comprehensive income before reclassifications			1
Reclassifications from accumulated other comprehensive loss to net earnings			(4)
Net other comprehensive income			(3)
Balance as of June 30, 2017	(1)		(1)
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance as of December 31, 2016			(773)
Other comprehensive income before reclassifications			72
Reclassifications from accumulated other comprehensive loss to net earnings			2
Net other comprehensive income			74
Balance as of June 30, 2017	$ (699)		$ (699)

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Amounts attributable to S&P Global Inc. common shareholders:
Net income	$ 421	$ 383	$ 820	$ 677
Basic weighted-average number of common shares outstanding	257,300,000	264,500,000	257,700,000	264,700,000
Effect of stock options and other dilutive securities (in shares)	2,600,000	2,200,000	2,700,000	2,300,000
Diluted weighted-average number of common shares outstanding	259,900,000	266,700,000	260,400,000	267,000,000
Earnings per share attributable to S&P Global Inc. common shareholders:
Basic (in dollars per share)	$ 1.63	$ 1.45	$ 3.18	$ 2.56
Diluted (in dollars per share)	$ 1.62	$ 1.44	$ 3.15	$ 2.54
Employee stock option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding shares not included in the computation of diluted earnings per share	0	0	0	0
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			900,000	1,200,000

Restructuring (Details)

Restructuring (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)position	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Ratings
Restructuring Cost and Reserve [Line Items]
Employee termination charges		$ 6		$ 6
Market and Commodities Intelligence
Restructuring Cost and Reserve [Line Items]
Employee termination charges	$ 5		$ 5
2017 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Workforce reduction (in positions) | position			120
Initial Charge Recorded			$ 5
Employee termination charges			5
Reduction of reserve			1
Ending Reserve Balance	4		4
Reserve balance	4		4
2017 Restructuring Plan | Ratings
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			0
Ending Reserve Balance	0		0
Reserve balance	0		0
2017 Restructuring Plan | Market and Commodities Intelligence
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			5
Ending Reserve Balance	4		4
Reserve balance	4		4
2017 Restructuring Plan | Indices
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			0
Ending Reserve Balance	0		0
Reserve balance	0		0
2017 Restructuring Plan | Corporate
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			0
Ending Reserve Balance	0		0
Reserve balance	0		$ 0
2016 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Workforce reduction (in positions) | position			230
Initial Charge Recorded			$ 30
Ending Reserve Balance	14		14
Reserve balance	14		14		$ 23
Restructuring charges paid			9
2016 Restructuring Plan | Ratings
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			14
Ending Reserve Balance	7		7
Reserve balance	7		7
2016 Restructuring Plan | Market and Commodities Intelligence
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			10
Ending Reserve Balance	4		4
Reserve balance	4		4
2016 Restructuring Plan | Indices
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			1
Ending Reserve Balance	0		0
Reserve balance	0		0
2016 Restructuring Plan | Corporate
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded			5
Ending Reserve Balance	3		3
Reserve balance	$ 3		$ 3

Segment and Related Informati53

Segment and Related Information - Operating Results by Segment (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)Segment	Jun. 30, 2016USD ($)
Segment Reporting [Abstract]
Number of reportable segments | Segment			3
Segment Reporting Information [Line Items]
Revenue	$ 1,509	$ 1,482	$ 2,962	$ 2,823
Operating Profit	677	651	1,324	1,163
Amortization of intangibles	25	23	49	47
Ratings
Segment Reporting Information [Line Items]
Legal settlement			2
Insurance recoveries		34		46
Employee termination charges		6		6
Amortization of intangibles	1	1	2	3
Market and Commodities Intelligence
Segment Reporting Information [Line Items]
Employee termination charges	5		5
Amortization of intangibles	23	21	44	41
Charge to exit a leased facility	6		6
Asset write off	2		2
Non-cash acquisition and disposition-related adjustments			15
Disposition-related gain (loss)		(10)		(12)
Technology-related impairment charge				24
Indices
Segment Reporting Information [Line Items]
Amortization of intangibles	1	1	3	3
Segment reconciling items
Segment Reporting Information [Line Items]
Disposition-related gain (loss)		3		3
Operating segments
Segment Reporting Information [Line Items]
Revenue	1,509	1,482	2,962	2,823
Operating Profit	707	682	1,384	1,227
Operating segments | Ratings
Segment Reporting Information [Line Items]
Revenue	747	682	1,461	1,234
Operating Profit	397	396	773	658
Operating segments | Market and Commodities Intelligence
Segment Reporting Information [Line Items]
Revenue	606	671	1,199	1,333
Operating Profit	191	186	378	369
Operating segments | Indices
Segment Reporting Information [Line Items]
Revenue	184	153	355	304
Operating Profit	119	100	233	200
Intersegment eliminations
Segment Reporting Information [Line Items]
Revenue	(28)	(24)	(53)	(48)
Operating Profit	0	0	0	0
Segment reconciling items
Segment Reporting Information [Line Items]
Revenue	0	0	0	0
Operating Profit	$ (30)	$ (31)	$ (60)	$ (64)

Segment and Related Informati54

Segment and Related Information - Revenue by Geographic Region (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 1,509	$ 1,482	$ 2,962	$ 2,823
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	922	910	1,813	1,750
European region
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	360	339	706	636
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	142	156	275	293
Rest of the world
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 85	$ 77	$ 168	$ 144

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2017USD ($)lawsuit	Jun. 30, 2017USD ($)lawsuit	Jan. 31, 2016employee	Aug. 31, 2015shareholder
Financial Crisis Litigation
Loss Contingencies [Line Items]
Number of lawsuits | lawsuit	7	7
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 | $	$ 20	$ 38
Noncontrolling interest ownership by noncontrolling owners (as a percent)	27.00%	27.00%
S&P Global Ratings | Shareholder Derivative Action
Loss Contingencies [Line Items]
Number of former employees named as defendants | employee			9

Recently Issued or Adopted Ac56

Recently Issued or Adopted Accounting Standards (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Excess tax benefits	$ 17
Reclassified financing activity in cash flow	(618)	$ (440)
Reclassified operating activity in cash flow	674	640
Accounting Standards Update 2016-09, Excess Tax Benefit Component
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassified financing activity in cash flow		(19)
Reclassified operating activity in cash flow		19
Accounting Standards Update 2016-09, Cash Flow Classifications Component
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassified financing activity in cash flow	$ 44	50
Reclassified operating activity in cash flow		$ (50)

Condensed Consolidating Finan57

Condensed Consolidating Financial Statements - Narrative (Details) - USD ($)	Jun. 30, 2017	Sep. 22, 2016	Aug. 18, 2015	May 26, 2015
Condensed Financial Statements, Captions [Line Items]
Ownership interest of subsidiary (as a percent)	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	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	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			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			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			4.40%

Condensed Consolidating Finan58

Condensed Consolidating Financial Statements - Statement of Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Condensed Income Statements, Captions [Line Items]
Revenue	$ 1,509	$ 1,482	$ 2,962	$ 2,823
Expenses:
Operating-related expenses	449	469	861	923
Selling and general expenses	338	317	689	650
Depreciation	20	22	39	40
Amortization of intangibles	25	23	49	47
Total expenses	832	831	1,638	1,660
Operating profit	677	651	1,324	1,163
Interest expense (income), net	37	42	74	83
Non-operating intercompany transactions	0	0	0	0
Income before taxes on income	640	609	1,250	1,080
(Benefit) provision for taxes on income	183	197	363	345
Equity in net income of subsidiaries	0	0	0	0
Net income	457	412	887	735
Less: net income attributable to noncontrolling interests	(36)	(29)	(67)	(58)
Net income attributable to S&P Global Inc.	421	383	820	677
Comprehensive income	493	365	961	708
Eliminations
Condensed Income Statements, Captions [Line Items]
Revenue	(35)	(32)	(67)	(62)
Expenses:
Operating-related expenses	(35)	(32)	(67)	(62)
Selling and general expenses	0	0	0	0
Depreciation	0	0	0	0
Amortization of intangibles	0	0	0	0
Total expenses	(35)	(32)	(67)	(62)
Operating profit	0	0	0	0
Interest expense (income), net	0	0	0	0
Non-operating intercompany transactions	655	141	1,492	570
Income before taxes on income	(655)	(141)	(1,492)	(570)
(Benefit) provision for taxes on income	0	0	0	0
Equity in net income of subsidiaries	(1,064)	(689)	(2,288)	(1,552)
Net income	(1,719)	(830)	(3,780)	(2,122)
Less: net income attributable to noncontrolling interests	(36)	(29)	(67)	(58)
Net income attributable to S&P Global Inc.	(1,755)	(859)	(3,847)	(2,180)
Comprehensive income	(1,712)	(850)	(3,776)	(2,140)
S&P Global Inc.
Condensed Income Statements, Captions [Line Items]
Revenue	181	171	361	342
Expenses:
Operating-related expenses	39	26	71	49
Selling and general expenses	26	33	45	54
Depreciation	8	10	15	19
Amortization of intangibles	0	0	0	0
Total expenses	73	69	131	122
Operating profit	108	102	230	220
Interest expense (income), net	40	44	79	86
Non-operating intercompany transactions	93	95	175	169
Income before taxes on income	(25)	(37)	(24)	(35)
(Benefit) provision for taxes on income	(36)	(17)	(47)	(18)
Equity in net income of subsidiaries	1,064	617	2,288	1,408
Net income	1,075	597	2,311	1,391
Less: net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to S&P Global Inc.	1,075	597	2,311	1,391
Comprehensive income	1,085	545	2,323	1,347
Standard & Poor's Financial Services LLC
Condensed Income Statements, Captions [Line Items]
Revenue	447	413	885	754
Expenses:
Operating-related expenses	115	93	234	231
Selling and general expenses	83	62	172	97
Depreciation	3	2	5	5
Amortization of intangibles	0	0	0	0
Total expenses	201	157	411	333
Operating profit	246	256	474	421
Interest expense (income), net	0	0	0	0
Non-operating intercompany transactions	(22)	(37)	(41)	(42)
Income before taxes on income	268	293	515	463
(Benefit) provision for taxes on income	119	111	218	167
Equity in net income of subsidiaries	0	72	0	144
Net income	149	254	297	440
Less: net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to S&P Global Inc.	149	254	297	440
Comprehensive income	148	261	296	446
Non-Guarantor Subsidiaries
Condensed Income Statements, Captions [Line Items]
Revenue	916	930	1,783	1,789
Expenses:
Operating-related expenses	330	382	623	705
Selling and general expenses	229	222	472	499
Depreciation	9	10	19	16
Amortization of intangibles	25	23	49	47
Total expenses	593	637	1,163	1,267
Operating profit	323	293	620	522
Interest expense (income), net	(3)	(2)	(5)	(3)
Non-operating intercompany transactions	(726)	(199)	(1,626)	(697)
Income before taxes on income	1,052	494	2,251	1,222
(Benefit) provision for taxes on income	100	103	192	196
Equity in net income of subsidiaries	0	0	0	0
Net income	952	391	2,059	1,026
Less: net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to S&P Global Inc.	952	391	2,059	1,026
Comprehensive income	$ 972	$ 409	$ 2,118	$ 1,055

Condensed Consolidating Finan59

Condensed Consolidating Financial Statements - Balance Sheet (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Assets, Current [Abstract]
Cash and cash equivalents	$ 2,384	$ 2,392	$ 1,567	$ 1,481
Accounts receivable, net of allowance for doubtful accounts	1,166	1,122
Intercompany receivable	0	0
Prepaid and other current assets	173	157
Total current assets	3,723	3,671
Property and equipment, net of accumulated depreciation	264	271
Goodwill	2,982	2,949
Other intangible assets, net	1,442	1,506
Investments in subsidiaries	0	0
Intercompany loans receivable	0	0
Other non-current assets	380	272
Total assets	8,791	8,669
Current liabilities:
Accounts payable	162	183
Intercompany payable	0	0
Accrued compensation and contributions to retirement plans	294	409
Income taxes currently payable	79	95
Unearned revenue	1,502	1,509
Other current liabilities	325	415
Total current liabilities	2,362	2,611
Long-term debt	3,566	3,564
Intercompany loans payable	0	0
Pension and other postretirement benefits	269	274
Other non-current liabilities	414	439
Total liabilities	6,611	6,888
Redeemable noncontrolling interest	1,107	1,080
Equity:
Common stock	412	412
Additional paid-in capital	490	502
Retained income	9,816	9,210
Accumulated other comprehensive loss	(699)	(773)
Less: common stock in treasury	(9,000)	(8,701)
Total equity — controlling interests	1,019	650
Total equity - noncontrolling interests	54	51
Total equity	1,073	701
Total liabilities and equity	8,791	8,669
Eliminations
Assets, Current [Abstract]
Cash and cash equivalents	0	0	0	0
Accounts receivable, net of allowance for doubtful accounts	0	0
Intercompany receivable	(4,159)	(1,542)
Prepaid and other current assets	0	(1)
Total current assets	(4,159)	(1,543)
Property and equipment, net of accumulated depreciation	0	0
Goodwill	16	9
Other intangible assets, net	0	0
Investments in subsidiaries	(15,606)	(13,970)
Intercompany loans receivable	(1,184)	(1,371)
Other non-current assets	0	0
Total assets	(20,933)	(16,875)
Current liabilities:
Accounts payable	0	0
Intercompany payable	(4,158)	(1,541)
Accrued compensation and contributions to retirement plans	0	0
Income taxes currently payable	0	0
Unearned revenue	0	0
Other current liabilities	0	0
Total current liabilities	(4,158)	(1,541)
Long-term debt	0	0
Intercompany loans payable	(1,184)	(1,371)
Pension and other postretirement benefits	0	0
Other non-current liabilities	0	(1)
Total liabilities	(5,342)	(2,913)
Redeemable noncontrolling interest	1,107	1,080
Equity:
Common stock	(2,292)	(2,460)
Additional paid-in capital	(11,279)	(10,963)
Retained income	(3,257)	(1,721)
Accumulated other comprehensive loss	49	44
Less: common stock in treasury	28	7
Total equity — controlling interests	(16,751)	(15,093)
Total equity - noncontrolling interests	53	51
Total equity	(16,698)	(15,042)
Total liabilities and equity	(20,933)	(16,875)
S&P Global Inc.
Assets, Current [Abstract]
Cash and cash equivalents	509	711	62	167
Accounts receivable, net of allowance for doubtful accounts	123	138
Intercompany receivable	679	(165)
Prepaid and other current assets	96	77
Total current assets	1,407	761
Property and equipment, net of accumulated depreciation	148	159
Goodwill	260	261
Other intangible assets, net	0	0
Investments in subsidiaries	6,681	5,464
Intercompany loans receivable	109	17
Other non-current assets	165	134
Total assets	8,770	6,796
Current liabilities:
Accounts payable	57	73
Intercompany payable	2,604	1,324
Accrued compensation and contributions to retirement plans	104	129
Income taxes currently payable	8	43
Unearned revenue	274	273
Other current liabilities	137	165
Total current liabilities	3,184	2,007
Long-term debt	3,566	3,564
Intercompany loans payable	103	11
Pension and other postretirement benefits	198	196
Other non-current liabilities	40	52
Total liabilities	7,091	5,830
Redeemable noncontrolling interest	0	0
Equity:
Common stock	412	412
Additional paid-in capital	(211)	(174)
Retained income	10,759	9,721
Accumulated other comprehensive loss	(281)	(292)
Less: common stock in treasury	(9,000)	(8,701)
Total equity — controlling interests	1,679	966
Total equity - noncontrolling interests	0	0
Total equity	1,679	966
Total liabilities and equity	8,770	6,796
Standard & Poor's Financial Services LLC
Assets, Current [Abstract]
Cash and cash equivalents	0	0	0	0
Accounts receivable, net of allowance for doubtful accounts	191	131
Intercompany receivable	1,498	837
Prepaid and other current assets	(2)	2
Total current assets	1,687	970
Property and equipment, net of accumulated depreciation	1	1
Goodwill	0	0
Other intangible assets, net	0	0
Investments in subsidiaries	5	680
Intercompany loans receivable	0	0
Other non-current assets	29	24
Total assets	1,722	1,675
Current liabilities:
Accounts payable	14	22
Intercompany payable	443	40
Accrued compensation and contributions to retirement plans	47	69
Income taxes currently payable	0	0
Unearned revenue	220	191
Other current liabilities	12	(51)
Total current liabilities	736	271
Long-term debt	0	0
Intercompany loans payable	0	0
Pension and other postretirement benefits	0	0
Other non-current liabilities	70	74
Total liabilities	806	345
Redeemable noncontrolling interest	0	0
Equity:
Common stock	0	0
Additional paid-in capital	588	1,154
Retained income	328	176
Accumulated other comprehensive loss	0	0
Less: common stock in treasury	0	0
Total equity — controlling interests	916	1,330
Total equity - noncontrolling interests	0	0
Total equity	916	1,330
Total liabilities and equity	1,722	1,675
Non-Guarantor Subsidiaries
Assets, Current [Abstract]
Cash and cash equivalents	1,875	1,681	$ 1,505	$ 1,314
Accounts receivable, net of allowance for doubtful accounts	852	853
Intercompany receivable	1,982	870
Prepaid and other current assets	79	79
Total current assets	4,788	3,483
Property and equipment, net of accumulated depreciation	115	111
Goodwill	2,706	2,679
Other intangible assets, net	1,442	1,506
Investments in subsidiaries	8,920	7,826
Intercompany loans receivable	1,075	1,354
Other non-current assets	186	114
Total assets	19,232	17,073
Current liabilities:
Accounts payable	91	88
Intercompany payable	1,111	177
Accrued compensation and contributions to retirement plans	143	211
Income taxes currently payable	71	52
Unearned revenue	1,008	1,045
Other current liabilities	176	301
Total current liabilities	2,600	1,874
Long-term debt	0	0
Intercompany loans payable	1,081	1,360
Pension and other postretirement benefits	71	78
Other non-current liabilities	304	314
Total liabilities	4,056	3,626
Redeemable noncontrolling interest	0	0
Equity:
Common stock	2,292	2,460
Additional paid-in capital	11,392	10,485
Retained income	1,986	1,034
Accumulated other comprehensive loss	(467)	(525)
Less: common stock in treasury	(28)	(7)
Total equity — controlling interests	15,175	13,447
Total equity - noncontrolling interests	1	0
Total equity	15,176	13,447
Total liabilities and equity	$ 19,232	$ 17,073

Condensed Consolidating Finan60

Condensed Consolidating Financial Statements - Statement of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income	$ 457	$ 412	$ 887	$ 735
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation			39	40
Amortization of intangibles			49	47
Provision for losses on accounts receivable			13	8
Stock-based compensation			41	34
Other			26	43
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable			(49)	(39)
Prepaid and other current assets			(13)	(14)
Accounts payable and accrued expenses			(139)	(171)
Unearned revenue			(17)	38
Accrued legal settlements			(4)	(108)
Other current liabilities			(85)	(21)
Net change in prepaid/accrued income taxes			(45)	92
Net change in other assets and liabilities			(29)	(44)
Cash provided by operating activities			674	640
Investing Activities:
Capital expenditures			(56)	(36)
Acquisitions, net of cash acquired			(70)	(52)
Proceeds from dispositions			2	0
Cash used for investing activities			(124)	(88)
Financing Activities:
Additions to short-term debt, net			0	166
Dividends paid to shareholders			(212)	(191)
Distributions to noncontrolling interest holders			(54)	(57)
Repurchase of treasury shares			(346)	(373)
Exercise of stock options			38	65
Employee withholding tax on share-based payments			(44)	(50)
Intercompany financing activities			0	0
Cash used for financing activities			(618)	(440)
Effect of exchange rate changes on cash from continuing operations			60	(26)
Net change in cash and cash equivalents			(8)	86
Cash and cash equivalents at beginning of period			2,392	1,481
Cash and cash equivalents at end of period	2,384	1,567	2,384	1,567
Eliminations
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income	(1,719)	(830)	(3,780)	(2,122)
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation			0	0
Amortization of intangibles			0	0
Provision for losses on accounts receivable			0	0
Stock-based compensation			0	0
Other			0	0
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable			0	0
Prepaid and other current assets			0	0
Accounts payable and accrued expenses			0	0
Unearned revenue			0	0
Accrued legal 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 operating activities			(3,780)	(2,122)
Investing Activities:
Capital expenditures			0	0
Acquisitions, net of cash acquired			0	0
Proceeds from dispositions			0
Cash used for investing activities			0	0
Financing Activities:
Additions to short-term debt, net				0
Dividends paid to shareholders			0	0
Distributions to noncontrolling interest holders			0	0
Repurchase of treasury shares			0	0
Exercise of stock options			0	0
Employee withholding tax on share-based payments			0	0
Intercompany financing activities			3,780	2,122
Cash used for financing activities			3,780	2,122
Effect of exchange rate changes on cash from continuing operations			0	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	1,075	597	2,311	1,391
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation			15	19
Amortization of intangibles			0	0
Provision for losses on accounts receivable			0	1
Stock-based compensation			14	10
Other			17	(1)
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable			14	(7)
Prepaid and other current assets			(18)	(21)
Accounts payable and accrued expenses			(40)	(26)
Unearned revenue			1	18
Accrued legal settlements			0	0
Other current liabilities			(33)	(23)
Net change in prepaid/accrued income taxes			(55)	83
Net change in other assets and liabilities			(17)	(31)
Cash provided by operating activities			2,209	1,413
Investing Activities:
Capital expenditures			(19)	(16)
Acquisitions, net of cash acquired			0	(40)
Proceeds from dispositions			0
Cash used for investing activities			(19)	(56)
Financing Activities:
Additions to short-term debt, net				166
Dividends paid to shareholders			(212)	(191)
Distributions to noncontrolling interest holders			0	0
Repurchase of treasury shares			(346)	(373)
Exercise of stock options			38	64
Employee withholding tax on share-based payments			(44)	(50)
Intercompany financing activities			(1,842)	(1,038)
Cash used for financing activities			(2,406)	(1,422)
Effect of exchange rate changes on cash from continuing operations			14	(40)
Net change in cash and cash equivalents			(202)	(105)
Cash and cash equivalents at beginning of period			711	167
Cash and cash equivalents at end of period	509	62	509	62
Standard & Poor's Financial Services LLC
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income	149	254	297	440
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation			5	5
Amortization of intangibles			0	0
Provision for losses on accounts receivable			4	1
Stock-based compensation			10	7
Other			0	8
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable			(63)	148
Prepaid and other current assets			3	13
Accounts payable and accrued expenses			34	(98)
Unearned revenue			28	(375)
Accrued legal settlements			(1)	(108)
Other current liabilities			(4)	(25)
Net change in prepaid/accrued income taxes			0	0
Net change in other assets and liabilities			1	27
Cash provided by operating activities			314	43
Investing Activities:
Capital expenditures			(10)	(7)
Acquisitions, net of cash acquired			0	0
Proceeds from dispositions			0
Cash used for investing activities			(10)	(7)
Financing Activities:
Additions to short-term debt, net				0
Dividends paid to shareholders			0	0
Distributions to noncontrolling interest holders			0	0
Repurchase of treasury shares			0	0
Exercise of stock options			0	0
Employee withholding tax on share-based payments			0	0
Intercompany financing activities			(304)	(36)
Cash used for financing activities			(304)	(36)
Effect of exchange rate changes on cash from continuing operations			0	0
Net change in cash and cash equivalents			0	0
Cash and cash equivalents at beginning of period			0	0
Cash and cash equivalents at end of period	0	0	0	0
Non-Guarantor Subsidiaries
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income	952	391	2,059	1,026
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation			19	16
Amortization of intangibles			49	47
Provision for losses on accounts receivable			9	6
Stock-based compensation			17	17
Other			9	36
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable			0	(180)
Prepaid and other current assets			2	(6)
Accounts payable and accrued expenses			(133)	(47)
Unearned revenue			(46)	395
Accrued legal settlements			(3)	0
Other current liabilities			(48)	27
Net change in prepaid/accrued income taxes			10	9
Net change in other assets and liabilities			(13)	(40)
Cash provided by operating activities			1,931	1,306
Investing Activities:
Capital expenditures			(27)	(13)
Acquisitions, net of cash acquired			(70)	(12)
Proceeds from dispositions			2
Cash used for investing activities			(95)	(25)
Financing Activities:
Additions to short-term debt, net				0
Dividends paid to shareholders			0	0
Distributions to noncontrolling interest holders			(54)	(57)
Repurchase of treasury shares			0	0
Exercise of stock options			0	1
Employee withholding tax on share-based payments			0	0
Intercompany financing activities			(1,634)	(1,048)
Cash used for financing activities			(1,688)	(1,104)
Effect of exchange rate changes on cash from continuing operations			46	14
Net change in cash and cash equivalents			194	191
Cash and cash equivalents at beginning of period			1,681	1,314
Cash and cash equivalents at end of period	$ 1,875	$ 1,505	$ 1,875	$ 1,505