S&P Global (SPGI) 10-Q 26 Apr 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares shares in Millions	3 Months Ended
	Mar. 31, 2018	Apr. 20, 2018
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	Mar. 31, 2018
Amendment Flag	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		251.3

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Revenue	$ 1,567	$ 1,453
Expenses:
Operating-related expenses	439	411
Selling and general expenses	372	360
Depreciation	21	19
Amortization of intangibles	24	24
Total expenses	856	814
Operating profit	711	639
Other (income) expense, net	(4)	(9)
Interest expense, net	34	37
Income before taxes on income	681	611
Provision for taxes on income	147	181
Net income	534	430
Less: net income attributable to noncontrolling interests	(43)	(31)
Net income attributable to S&P Global Inc.	$ 491	$ 399
Net income:
Basic (USD per share)	$ 1.94	$ 1.54
Diluted (USD per share)	$ 1.93	$ 1.53
Weighted-average number of common shares outstanding:
Basic (shares)	252.4	258.2
Diluted (shares)	254.4	260.8
Actual shares outstanding at period end (shares)	249.4	257.8
Dividend declared per common share (USD per share)	$ 0.5	$ 0.41

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 534	$ 430
Other comprehensive income:
Foreign currency translation adjustment	23	30
Income tax effect	(18)	0
Foreign currency translation adjustment, net of income tax effect	5	30
Pension and other postretirement benefit plans	4	4
Income tax effect	(1)	(1)
Pension and other postretirement benefit plans, net of income tax effect	3	3
Unrealized gain on forward exchange contracts	1	7
Income tax effect	0	(2)
Unrealized gain on forward exchange contracts, net of income tax effect	1	5
Comprehensive income	543	468
Less: comprehensive income attributable to nonredeemable noncontrolling interests	(3)	(1)
Less: comprehensive income attributable to redeemable noncontrolling interests	(40)	(30)
Comprehensive income attributable to S&P Global Inc.	$ 500	$ 437

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 1,756	$ 2,779
Accounts receivable, net of allowance for doubtful accounts: 2018 - $34; 2017 - $33	1,313	1,319
Prepaid and other current assets	215	226
Total current assets	3,284	4,324
Property and equipment, net of accumulated depreciation: 2018 - $569; 2017 - $554	270	275
Goodwill	3,045	2,989
Other intangible assets, net	1,390	1,388
Other non-current assets	508	449
Total assets	8,497	9,425
Current liabilities:
Accounts payable	196	195
Accrued compensation and contributions to retirement plans	195	472
Short-term debt	400	399
Income taxes currently payable	100	77
Unearned revenue	1,679	1,613
Accrued legal and regulatory settlements	82	107
Other current liabilities	483	351
Total current liabilities	3,135	3,214
Long-term debt	3,170	3,170
Pension and other postretirement benefits	235	244
Other non-current liabilities	539	679
Total liabilities	7,079	7,307
Redeemable noncontrolling interest (Note 8)	1,350	1,350
Commitments and contingencies (Note 12)
Equity:
Common stock	412	412
Additional paid-in capital	335	525
Retained income	10,427	10,025
Accumulated other comprehensive loss	(630)	(649)
Less: common stock in treasury	(10,537)	(9,602)
Total equity — controlling interests	7	711
Total equity — noncontrolling interests	61	57
Total equity	68	768
Total liabilities and equity	$ 8,497	$ 9,425

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 34	$ 33
Accumulated depreciation	$ 569	$ 554

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Operating Activities:
Net income	$ 534	$ 430
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	21	19
Amortization of intangibles	24	24
Provision for losses on accounts receivable	8	5
Stock-based compensation	13	19
Other	16	13
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable	7	12
Prepaid and other current assets	(21)	9
Accounts payable and accrued expenses	(289)	(235)
Unearned revenue	27	(6)
Accrued legal settlements	(29)	(1)
Other current liabilities	19	(58)
Net change in prepaid/accrued income taxes	74	146
Net change in other assets and liabilities	(44)	(24)
Cash provided by operating activities	360	353
Investing Activities:
Capital expenditures	(33)	(23)
Acquisitions, net of cash acquired	(57)	(1)
Proceeds from dispositions	0	2
Changes in short-term investments	3	0
Cash used for investing activities	(87)	(22)
Financing Activities:
Dividends paid to shareholders	(127)	(106)
Distributions to noncontrolling interest holders	(50)	(24)
Repurchase of treasury shares	(1,100)	(201)
Exercise of stock options	10	29
Employee withholding tax on share-based payments	(49)	(44)
Cash used for financing activities	(1,316)	(346)
Effect of exchange rate changes on cash from continuing operations	20	34
Net change in cash and cash equivalents	(1,023)	19
Cash and cash equivalents at beginning of period	2,779	2,392
Cash and cash equivalents at end of period	$ 1,756	$ 2,411

Consolidated Statement of Equit

Consolidated Statement of Equity (Unaudited) - 3 months ended Mar. 31, 2018 - USD ($) $ in Millions		Total	Total SPGI Equity	Common Stock $1 par	Additional Paid-in Capital	Retained Income	Accumulated Other Comprehensive Loss	Less: Treasury Stock	Noncontrolling Interests
Balance at beginning of period at Dec. 31, 2017		$ 768	$ 711	$ 412	$ 525	$ 10,025	$ (649)	$ 9,602	$ 57
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	[1]	503	500			491	9		3
Dividends		(127)	(127)			(127)
Share repurchases		(1,100)	(1,100)		(150)			950
Employee stock plans		(24)	(25)		(40)			(15)	1
Change in redemption value of redeemable noncontrolling interest		12	12			12
Other	[2]	36	36			26	10
Balance at end of period at Mar. 31, 2018		$ 68	$ 7	$ 412	$ 335	$ 10,427	$ (630)	$ 10,537	$ 61
[1]	Excludes $40 million attributable to our redeemable noncontrolling interest.
[2]	Reflects a net increase to opening retained earnings due to the cumulative effect of adopting Accounting Standards Codification 606, partially offset by a decrease related to the adoption of Accounting Standards Update 2016-01.

Consolidated Statement of Equi8

Consolidated Statement of Equity (Unaudited) (Parenthetical) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Statement of Stockholders' Equity [Abstract]
Net income attributable to noncontrolling interest	$ 40

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	3 Months Ended
	Mar. 31, 2018
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 four reportable segments: S&P Global Ratings ("Ratings"), S&P Global Market Intelligence ("Market Intelligence"), S&P Global Platts ("Platts") 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 Intelligence is a global provider of multi-asset-class data, research and analytical capabilities, which integrate cross-asset analytics and desktop services. • Platts is the leading independent provider of information and benchmark prices for the commodity and energy markets. • 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, 2017 (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 months ended March 31, 2018 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, we adopted Financial Accounting Standards Board Accounting Standards Codification ("ASC") 606 as discussed below. There have been no other material changes to our critical accounting policies and estimates. Adoption of ASC 606, “Revenue from Contracts with Customers” On January 1, 2018, we adopted ASC 606 "Revenue from Contracts with Customers" using the modified retrospective transition method applied to our revenue contracts with customers as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under ASC 606, while prior year amounts are not adjusted and continue to be reported in accordance with our historic accounting under ASC 605. We recorded a net increase to opening retained earnings of $35 million as of January 1, 2018 due to the cumulative effect of adopting ASC 606, with the impact primarily related to our treatment of costs to obtain a contract and to a lesser extent, changes to the timing of the recognition of our subscription and non-transaction revenues. We recognized additional revenue of $3 million for three months ended March 31, 2018 as a result of the adoption of this standard. Under ASC 606, revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration the entity expects to receive in exchange for those goods or services. The following table presents our revenue disaggregated by revenue type: (in millions) Three Months Ended March 31, 2018 Ratings Market Intelligence Platts Indices Intersegment Elimination 1 Total Subscription $ — $ 424 $ 181 $ 33 $ — $ 638 Non-transaction 380 — — — (28 ) 352 Non-subscription / Transaction 368 8 2 — — 378 Asset-linked fees — 5 — 131 — 136 Sales usage-based royalties — — 13 50 — 63 Total revenue $ 748 $ 437 $ 196 $ 214 $ (28 ) $ 1,567 Timing of revenue recognition Services transferred at a point in time $ 368 $ 8 $ 2 $ — $ — $ 378 Services transferred over time 380 429 194 214 (28 ) 1,189 Total revenue $ 748 $ 437 $ 196 $ 214 $ (28 ) $ 1,567 (in millions) Three Months Ended March 31, 2017 2 Ratings Market Intelligence Platts Indices Intersegment Elimination 1 Total Subscription $ — $ 385 $ 172 $ 31 $ — $ 588 Non-transaction 341 — — — (25 ) 316 Non-subscription / Transaction 373 11 3 — — 387 Asset-linked fees — 6 — 108 — 114 Sales usage-based royalties — — 16 32 — 48 Total revenue $ 714 $ 402 $ 191 $ 171 $ (25 ) $ 1,453 Timing of revenue recognition Services transferred at a point in time $ 373 $ 11 $ 3 $ — $ — $ 387 Services transferred over time 341 391 188 171 (25 ) 1,066 Total revenue $ 714 $ 402 $ 191 $ 171 $ (25 ) $ 1,453 1 Intersegment eliminations mainly consists of a royalty charged to Market Intelligence for the rights to use and distribute content and data developed by Ratings. 2 As noted above, amounts for the three month ended March 31, 2017 were not adjusted under the modified retrospective transition method applied to our revenue contracts with customers as of January 1, 2018. Subscription revenue Subscription revenue at Market Intelligence is primarily derived from distribution of data, analytics, third party research, and credit ratings-related information primarily through web-based channels including Market Intelligence Desktop, RatingsDirect®, RatingsXpress®, and Credit Analytics. Subscription revenue at Platts is generated by providing customers access to commodity and energy-related price assessments, market data, and real-time news, along with other information services. Subscription revenue at Indices is derived from the contracts for underlying data of our indexes to support our customers' management of index funds, portfolio analytics, and research. For subscription products and services, we generally provide continuous access to dynamic data sets and analytics for a defined period, with revenue recognized ratably as our performance obligation to provide access to our data and analytics is progressively fulfilled over the stated term of the contract. Non-transaction revenue Non-transaction revenue at Ratings is primarily related to surveillance of a credit rating, annual fees for customer relationship-based pricing programs, fees for entity credit ratings and global research and analytics. Non-transaction revenue also includes an intersegment revenue elimination of $28 million and $25 million for the three months ended March 31, 2018 and 2017, respectively, mainly consisting of the royalty charged to Market Intelligence for the rights to use and distribute content and data developed by Ratings. For non-transaction revenue related to Rating’s surveillance services, we continuously monitor factors that impact the creditworthiness of an issuer over the contractual term with revenue recognized to the extent that our performance obligation is progressively fulfilled over the term contract. Because surveillance services are continuously provided throughout the term of the contract, our measure of progress towards fulfillment of our obligation to monitor a rating is a time-based output measure with revenue recognized ratably over the term of the contract. Non-subscription / Transaction revenue Transaction revenue at our Ratings segment primarily includes fees associated with: • ratings related to new issuance of corporate and government debt instruments; and structured finance instruments; • bank loan ratings; and • corporate credit estimates, which are intended, based on an abbreviated analysis, to provide an indication of our opinion regarding creditworthiness of a company which does not currently have a Ratings credit rating. Transaction revenue is recognized at the point in time when our performance obligation is satisfied by issuing a rating on our customer's instruments, our customer's creditworthiness, or a counter-party's creditworthiness and when we have a right to payment and the customer can benefit from the significant risks and rewards of ownership. Non-subscription revenue at Market Intelligence is primarily related to certain advisory, pricing and analytical services. Non-subscription revenue at Platts is primarily related conference sponsorship, consulting engagements and events. Asset-linked fees Asset-linked fees at Indices and Market Intelligence are primarily related to royalties payments based on the value of assets under management in our customers exchange-traded funds and mutual funds. For asset-linked products and services, we provide licenses conveying continuous access to our index and benchmark related intellectual property during a specified contract term. Revenue is recognized when the extent that our customers have used our licensed intellectual property can be quantified. Recognition of revenue for our asset-linked fee arrangements is subject to the "recognition constraint" for usage-based royalty payments because we cannot reasonably predict the value of the assets that will be invested in index funds structured using our intellectual property until it is either publicly available or when we are notified by our customers. Revenue derived from an asset-linked fee arrangement is measured and recognized when the uncertainty of the extent of its utilization of our index products by our customers is known. Sales usage-based royalties Sales and usage-based royalty revenue at our Indices segment is primarily related to trading based fees from exchange-traded derivatives. Sales and usage-based royalty revenue at our Platts segment is primarily related to licensing of its proprietary market price data and price assessments to commodity exchanges. For sales and usage-based royalty products and services, we provide licenses conveying the right to continuous access to our intellectual property over the contract term, with revenue recognized when the extent of our license’s utilization can be quantified, or more specifically, when trading volumes are known and publicly available to us or when we are notified by our customers. Recognition of revenue of fees tied to trading volumes is subject to the recognition constraint for a usage-based royalty promised by our customers in exchange for the license of our intellectual property, with revenue recognized when trading volumes are known. Arrangements with Multiple Performance Obligations Our contracts with customers may include multiple performance obligations. Revenue relating to agreements that provide for more than one performance obligation is recognized based upon the relative fair value to the customer of each service component as each component is earned. The fair value of the service components are determined using an analysis that considers cash consideration that would be received for instances when the service components are sold separately. If the fair value to the customer for each service is not objectively determinable, we make our best estimate of the services’ stand-alone selling price and records revenue as it is earned over the service period. Receivables We record a receivable when a customer is billed or when revenue is recognized prior to billing a customer. For multi-year agreements, we generally invoice customers annually at the beginning of each annual period. The opening balance of accounts receivable, net of allowance for doubtful accounts, was $1,319 million as of January 1, 2018. Contract Assets Contract assets include unbilled amounts that result from when the Company transfers service to a customer before a customer pays consideration or before payment is due. As of March 31, 2018 and December 31, 2017, contract assets were $28 million and $17 million , respectively, and are included in accounts receivable in our consolidated balance sheets. Unearned Revenue We record unearned revenue when cash payments are received or due in advance of our performance. The increase in the deferred revenue balance for the three months ended March 31, 2018 is primarily driven by cash payments received or due in advance of satisfying our performance obligations, offset by $710 million of revenues recognized that were included in the unearned revenue balance at the beginning of the period. Remaining Performance Obligations Remaining performance obligations represent the transaction price of contracts for which work has not yet been performed. As of March 31, 2018, the aggregate amount of the transaction price allocated to remaining performance obligations was $1.2 billion . We expect to recognize revenue on approximately half and three-quarters of the remaining performance obligations over the next 12 and 24 months, respectively, with the remainder recognized thereafter. We do not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts where revenue is a usage-based royalty promised in exchange for a license of intellectual property. Costs to Obtain a Contract We recognize an asset for the incremental costs of obtaining a contract with a customer if we expect the benefit of those costs to be longer than one year. We have determined that certain sales commission programs meet the requirements to be capitalized. Total capitalized costs to obtain a contract were $81 million as of March 31, 2018, and is included in other current and long-term assets on our consolidated balance sheets. The asset will be amortized over a period consistent with the transfer to the customer of the goods or services to which the asset relates, calculated based on the customer term and the average life of the products and services underlying the contracts. The expense is recorded within selling and general expenses. We expense sales commissions when incurred if the amortization period would have been one year or less. These costs are recorded within selling and general expenses. Presentation of net periodic pension cost and net periodic postretirement benefit cost During the first quarter of 2018, we adopted new accounting guidance requiring that net periodic benefit cost for our retirement and postretirement plans other than the service cost component be included outside of operating profit; these costs are included in other (income) expense, net in our consolidated statements of income. The components of other (income) expense, net for the three months ended March 31 are as follows: (in millions) 2018 2017 Other components of net periodic benefit cost $ (8 ) $ (9 ) Net loss from investments 1 4 — Other (income) expense, net $ (4 ) $ (9 ) 1 Primarily relates to the change in fair value of CRISIL's investment in Care Ratings Limited ("CARE"). The investment balance of CARE as of March 31, 2018 and December 31, 2017 is $49 million and $54 million , respectively, and is included in non-current assets in our consolidated balance sheets.

Acquisitions and Divestitures

Acquisitions and Divestitures	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures Acquisitions 2018 In April of 2018, we acquired Kensho Technologies Inc. ("Kensho") for approximately $550 million , net of cash acquired, in a mix of cash and stock. Kensho is a leading edge provider of next-generation analytics, artificial intelligence, machine learning, and data visualization systems to Wall Street's premier global banks and investment institutions, as well as the National Security community. The acquisition is expected to strengthen S&P Global's emerging technology capabilities, enhance our ability to deliver essential, actionable insights that will transform the user experience for our clients, and accelerate efforts to improve efficiency and effectiveness of our core internal operations. The acquisition of Kensho is not material to our consolidated financial statements. In February of 2018, Market Intelligence acquired Panjiva, Inc. ("Panjiva"), a privately held company that provides deep, differentiated, sector-relevant insights on global supply chains, leveraging data science and technology to make sense of large, unstructured datasets. The acquisition will help strengthen the insights, products and data that we provide to our clients throughout the world. The acquisition of Panjiva is not material to our consolidated financial statements. In January of 2018, CRISIL, included within our Ratings segment, acquired a 100% stake in Pragmatix Services Private Limited ("Pragmatix"), a data analytics company focused on delivering cutting edge solutions in the "data to intelligence" life cycle to the Banking, Financial Services and Insurance vertical. The acquisition will strengthen CRISIL's position as an agile, innovative and global analytics company. The acquisition of Pragmatix is not material to our consolidated financial statements. 2017 During the three months ended March 31, 2017, we did not complete any material acquisitions. Divestitures 2018 During the three months ended March 31, 2018, we did not complete any dispositions. 2017 In January of 2017, we completed the sale of Quant House SAS, included in our Market Intelligence segment, to QH Holdco, an independent third party.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Comprehensive tax legislation, enacted through the Tax Cuts and Jobs Act (“TCJA”) on December 22, 2017, significantly modified U.S. corporate income tax law. Provisional amounts have been recorded in our financial statements based on the Company’s initial analysis of the TCJA. The Company may adjust these amounts in future periods if our interpretation of the TCJA changes or as additional guidance from the U.S. Treasury becomes available. The effective income tax rate was 21.6% and 29.5% for the three months ended March 31, 2018 and March 31, 2017 , respectively. The decrease in 2018 was primarily due to the reduction of the U.S. federal corporate tax rate as a result of the enactment of the TCJA. At the end of each interim period, we estimate the annual effective tax rate and apply that rate to our ordinary quarterly earnings. The tax expense or benefit related to significant unusual or infrequently occurring 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 March 31, 2018 and December 31, 2017 , the total amount of federal, state and local, and foreign unrecognized tax benefits was $210 million and $212 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. As of March 31, 2018 and December 31, 2017 , we had $56 million and $59 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 approximately $90 million in the next twelve months as a result of the resolution of tax examinations.

Debt

Debt	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Debt	Debt A summary of short-term and long-term debt outstanding is as follows: (in millions) March 31, December 31, 2.5% Senior Notes, due 2018 1 $ 400 $ 399 3.3% Senior Notes, due 2020 2 697 697 4.0% Senior Notes, due 2025 3 692 692 4.4% Senior Notes, due 2026 4 892 892 2.95% Senior Notes, due 2027 5 493 493 6.55% Senior Notes, due 2037 6 396 396 Total debt 3,570 3,569 Less: short-term debt including current maturities 400 399 Long-term debt $ 3,170 $ 3,170 1 Interest payments are due semiannually on February 15 and August 15, and as of March 31, 2018 , the unamortized debt discount and issuance costs are less than $1 million . 2 Interest payments are due semiannually on February 14 and August 14, and as of March 31, 2018 , the unamortized debt discount and issuance costs total $3 million . 3 Interest payments are due semiannually on June 15 and December 15, and as of March 31, 2018 , the unamortized debt discount and issuance costs total $8 million . 4 Interest payments are due semiannually on February 15 and August 15, and as of March 31, 2018 , 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 March 31, 2018 , the unamortized debt discount and issuance costs total $7 million . 6 Interest payments are due semiannually on May 15 and November 15, and as of March 31, 2018 , the unamortized debt discount and issuance costs total $4 million . The fair value of our total debt borrowings was $ 3.7 billion and $3.8 billion as of March 31, 2018 and December 31, 2017 , respectively, and was estimated based on quoted market prices. We have the ability to borrow a total of $1.2 billion through our commercial paper program, which is supported by our revolving $1.2 billion five -year credit agreement (our "credit facility") that we entered into on June 30, 2017. This credit facility will terminate on June 30, 2022. As of March 31, 2018 and December 31, 2017 , there were no commercial paper borrowings outstanding. Depending on our corporate credit rating, 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 corporate credit rating. 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	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments 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 March 31, 2018 and December 31, 2017 , we have entered into foreign exchange forward contracts to mitigate or hedge the effect of adverse fluctuations in foreign currency exchange rates. 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 within Level 2 of the fair value hierarchy. We do not enter into any derivative financial instruments for speculative purposes. Undesignated Derivative Instruments During the three months ended December 31, 2017, we entered into foreign exchange forward contracts in order to mitigate the change in fair value of specific assets and liabilities in the consolidated balance sheet. These forward contracts do not qualify for hedge accounting. As of March 31, 2018 , the aggregate notional value of these outstanding forward contracts was $156 million . The fair value of these forward contracts are recorded in prepaid and other assets or other current liabilities in the consolidated balance sheet with their corresponding change in fair value recognized into selling and general expenses in the consolidated statement of income. The net loss recorded in selling and general expense for the three months ended March 31, 2018 related to these contracts was $1 million . Cash Flow Hedges During the three months ended March 31, 2018 and December 31, 2017, we entered into a series of foreign exchange forward contracts to hedge a portion of the Indian rupee, British pound, and Euro exposures through the first quarter of 2019 and the fourth quarter of 2018, respectively. 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. As of March 31, 2018 , we estimate that $3 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 months ended March 31, 2018 and March 31, 2017 . As of March 31, 2018 and March 31, 2017 , the aggregate notional value of our outstanding foreign currency forward contracts was $275 million and $255 million , respectively. The following table provides information on the location and fair value amounts of our cash flow hedges as of March 31, 2018 and December 31, 2017 : (in millions) Balance Sheet Location March 31, 2018 December 31, 2017 Prepaid and other current assets Foreign exchange forward contracts $ 3 $ 3 Other current liabilities Foreign exchange forward contracts $ 1 $ — The following table provides information on the location and amounts of pre-tax gains (losses) on our cash flow hedges for the three months ended March 31 : (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 2018 2017 2018 2017 Foreign exchange forward contracts $ 1 $ 5 Selling and general expenses $ 1 $ 1 The activity related to the change in unrealized gains (losses) in accumulated other comprehensive loss was as follows for the three months ended March 31 : (in millions) Three Months 2018 2017 Net unrealized gains on cash flow hedges, net of taxes, beginning of period $ 2 $ 2 Change in fair value, net of tax 2 6 Reclassification into earnings, net of tax (1 ) (1 ) Net unrealized gains on cash flow hedges, net of taxes, end of period $ 3 $ 7

Employee Benefits

Employee Benefits	3 Months Ended
	Mar. 31, 2018
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 cost pursuant to our accounting policy for amortizing such amounts. Net periodic benefit cost for our retirement and postretirement plans other than the service cost component are included in other (income) expense, net in our consolidated statements of income. The components of net periodic benefit cost for our retirement plans and postretirement plans for the three months ended March 31 are as follows: (in millions) 2018 2017 Service cost $ 1 $ 1 Interest cost 18 18 Expected return on assets (32 ) (31 ) Amortization of actuarial loss 4 4 Net periodic benefit cost $ (9 ) $ (8 ) Net periodic benefit cost related to our postretirement plans reflected in the table above was not material for the three months ended March 31, 2018 and March 31, 2017 , respectively. As discussed in our Form 10-K, we changed certain discount rate assumptions for our retirement and postretirement plans and our expected return on assets assumption for our retirement plans, which became effective on January 1, 2018. The effect of the assumption changes on retirement and postretirement expense for the three months ended March 31, 2018 did not have a material impact to our financial position, results of operations or cash flows. In the first three months of 2018 , we contributed $2 million to our retirement plans and expect to make additional required contributions of approximately $7 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 nine months of 2018 .

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2018
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 three months ended March 31 is as follows: (in millions) 2018 2017 Stock option expense $ 1 $ 1 Restricted stock and unit awards expense 12 18 Total stock-based compensation expense $ 13 $ 19 Total unrecognized compensation expense related to unvested restricted stock and unit awards as of March 31, 2018 was $53 million , which is expected to be recognized over a weighted average period of 1.5 years .

Equity

Equity	3 Months Ended
	Mar. 31, 2018
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 three months ended March 31 were as follows: (in millions, except average price) 2018 2017 Total number of shares purchased 1 5.0 1.5 Average price paid per share 2 $ 178.11 $ 129.97 Total cash utilized $ 1,100 $ 201 1 The three months ended March 31, 2018 include shares received as part of our accelerated share repurchase agreement described in more detail below. 2 Average price paid per share information does not include the accelerated share repurchase agreement as discussed in more detail below. 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 March 31, 2018 , approximately 14.0 million shares remained available under the current share repurchase program which has no expiration date and purchases under this program may be made from time to time on the open market and in private transactions, depending on market conditions. Accelerated Share Repurchase Agreement We entered into an accelerated share repurchase ("ASR") agreement with a financial institution on March 6, 2018 to initiate share repurchases aggregating $1 billion . The ASR agreement was structured as an uncapped ASR agreement in which we paid $1 billion and received an initial delivery of approximately 4.5 million shares, representing 85% of the $1 billion at a price equal to the then market price of the Company. The total number of shares to be repurchased under the ASR agreement will be equal to $1 billion divided by the volume weighted-average share price, less a discount, over the term of the ASR agreement. The final settlement of the transaction under the ASR agreement is expected to be completed no later than the third quarter of 2018. The repurchased shares are held in Treasury. The ASR agreement was executed under the current share repurchase program, approved on December 4, 2013. Redeemable Noncontrolling Interests The agreement with the minority partners 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") has 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 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 three months ended March 31, 2018 were as follows: (in millions) Balance as of December 31, 2017 $ 1,350 Net income attributable to noncontrolling interest 40 Distributions payable to noncontrolling interest (28 ) Redemption value adjustment (12 ) Balance as of March 31, 2018 $ 1,350 Accumulated Other Comprehensive Loss The following table summarizes the changes in the components of accumulated other comprehensive loss for the three months ended March 31, 2018 : (in millions) Foreign Currency Translation Adjustment Pension and Postretirement Benefit Plans Unrealized Gain (Loss) on Forward Exchange Contracts Unrealized Gain (Loss) on Investments Accumulated Other Comprehensive Loss Balance as of December 31, 2017 $ (239 ) $ (402 ) $ 2 (10 ) $ (649 ) Other comprehensive income before reclassifications 5 — 2 10 17 Reclassifications from accumulated other comprehensive loss to net earnings — 3 1 (1 ) 2 — 2 Net other comprehensive income 5 3 1 10 19 Balance as of March 31, 2018 $ (234 ) $ (399 ) $ 3 $ — $ (630 ) 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 $1 million for the three months ended March 31, 2018 .

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2018
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 three months ended March 31 is as follows: (in millions, except per share amounts) 2018 2017 Amounts attributable to S&P Global Inc. common shareholders: Net income $ 491 $ 399 Basic weighted-average number of common shares outstanding 252.4 258.2 Effect of stock options and other dilutive securities 2.0 2.6 Diluted weighted-average number of common shares outstanding 254.4 260.8 Earnings per share attributable to S&P Global Inc. common shareholders: Net income: Basic $ 1.94 $ 1.54 Diluted $ 1.93 $ 1.53 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 months ended March 31, 2018 and 2017 , there were no stock options excluded. Restricted performance shares outstanding of 0.6 million and 0.7 million as of March 31, 2018 and 2017 , respectively, were excluded.

Restructuring

Restructuring	3 Months Ended
	Mar. 31, 2018
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring We continuously evaluate our cost structure to identify cost savings to streamline our operating model. Our 2017 restructuring plans consisted of a company-wide workforce reduction of approximately 520 positions 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 March 31, 2018 by segment is as follows: 2017 Restructuring Plans (in millions) Initial Charge Recorded Ending Reserve Balance Ratings $ 25 $ 21 Market Intelligence 8 4 Platts 1 — Indices — — Corporate 10 8 Total $ 44 $ 33 The ending reserve balance for the 2017 restructuring plan was $39 million as of December 31, 2017. For the three months ended March 31, 2018 , we have reduced the reserve for the 2017 restructuring plan by $6 million . The reductions primarily related to cash payments for employee severance charges.

Segment and Related Information

Segment and Related Information	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Segment and Related Information	Segment and Related Information We have four reportable segments: Ratings, Market Intelligence, Platts 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. Effective beginning with the first quarter of 2018, we began reporting the financial results of Market Intelligence and Platts as separate reportable segments consistent with the changes to our organizational structure and how our Chief Executive Officer evaluates the performance of these segments. Our historical segment reporting has been retroactively revised to reflect the current organizational structure. A summary of operating results by reportable segment for the three months ended March 31 is as follows: 2018 2017 (in millions) Revenue Operating Profit Revenue Operating Profit Ratings 1 $ 748 $ 408 $ 714 $ 374 Market Intelligence 2 437 112 402 104 Platts 3 196 90 191 82 Indices 4 214 147 171 115 Intersegment elimination 5 (28 ) — (25 ) — Total operating segments 1,567 757 1,453 675 Unallocated expense — (46 ) — (36 ) Total $ 1,567 $ 711 $ 1,453 $ 639 1 Operating profit for 2017 includes legal settlement expenses of $2 million and amortization of intangibles from acquisitions of $1 million . 2 Operating profit for 2018 and 2017 includes amortization of intangibles from acquisitions of $17 million . Operating profit for 2017 includes non-cash disposition-related adjustments of $4 million . 3 Operating profit for 2018 and 2017 includes amortization of intangibles from acquisitions of $5 million . Operating profit for 2017 includes non-cash acquisition-related adjustments of $11 million . 4 Operating profit for 2018 and 2017 includes amortization of intangibles from acquisitions of $2 million and $1 million , respectively. 5 Revenue for Ratings and expenses for Market Intelligence include an intersegment royalty charged to Market Intelligence for the rights to use and distribute content and data developed by Ratings. The following provides revenue by geographic region for the three months ended March 31 : (in millions) 2018 2017 U.S. $ 951 $ 891 European region 381 346 Asia 156 132 Rest of the world 79 84 Total $ 1,567 $ 1,453 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	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Related Party Agreements During the first quarter of 2018, the Company made a $20 million contribution to the S&P Global Foundation. In June of 2012, we entered into a 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 months ended March 31, 2018 , S&P Dow Jones Indices LLC earned $31 million 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 and 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 several 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. We can provide no assurance that we will not be obligated to pay significant amounts in order to satisfy any judgments or 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. On March 30, 2017, following trial, 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, and on September 27, 2017, the court filed a written opinion supporting the verdict. The prosecutor did not appeal, and the verdict is now final. 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 asserted 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 sought 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 the Company's motions to dismiss both the North Miami Beach and Grika matters. In January of 2017, the plaintiffs in both matters filed notices of appeal. On February 13, 2018, the appellate court affirmed the lower court's dismissal of the North Miami Beach matter. Briefing on the Grika appeal is now complete, and oral argument was held on April 11, 2018.

Recently Issued or Adopted Acco

Recently Issued or Adopted Accounting Standards	3 Months Ended
	Mar. 31, 2018
Accounting Changes and Error Corrections [Abstract]
Recently Issued or Adopted Accounting Standards	Recently Issued or Adopted Accounting Standards In February of 2018, the Financial Accounting Standards Board ("FASB") issued guidance which allows companies to reclassify certain stranded income tax effects resulting from the enactment of the TCJA from accumulated other comprehensive income to retained earnings. The guidance is effective for reporting periods after December 15, 2018; however, early adoption is permitted. We are currently evaluating the impact of the adoption of this guidance on our consolidated financial statements. In August of 2017, FASB issued guidance to enhance the hedge accounting model for both nonfinancial and financial risk components, which includes amendments to address certain aspects of recognition and presentation disclosure. The guidance is effective for reporting periods beginning after December 15, 2018. We do not expect this guidance to have a significant impact on our consolidated financial instruments. 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 was effective on January 1, 2018, and the adoption of this guidance did not 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. Additionally, only the service cost component is eligible for capitalization. We adopted the guidance on January 1, 2018. The change in capitalization requirement did not have a material impact on our consolidated financial statements. As a result of the adoption of the guidance, net periodic benefit cost for our retirement and postretirement plans other than the service cost component are included in other (income) expense, net in our consolidated statements of income. See Note 6 — Employee Benefits for additional information related to our retirement and postretirement plans. 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 was effective on January 1, 2018, and the adoption of this guidance did not 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 was effective on January 1, 2018, and the adoption of this guidance did not have a significant impact on our consolidated financial statements. In February of 2016, the FASB issued guidance that amends accounting for leases. Under the new guidance, a lessee will recognize assets and liabilities but will recognize expenses similar to current lease accounting. The guidance is effective for reporting periods beginning after December 15, 2018; however early adoption is permitted. The new guidance must be adopted using a modified retrospective approach to each prior reporting period presented with various optional practical expedients. We are in the process of designing our implementation plan to adopt the new standard for the January 1, 2019 implementation date and are continuing to evaluate 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. We adopted this guidance on January 1, 2018. We recorded a reduction to opening retained earnings and an increase to accumulated other comprehensive income of $10 million as of January 1, 2018 due to the adoption of this guidance. The adoption of this guidance did not 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 also results in enhanced revenue disclosures, provides guidance for transactions that were not previously addressed comprehensively and improves guidance for multiple-element arrangements. We adopted the new revenue standard effective January 1, 2018 using the modified retrospective transition method. See Note 1 — Nature of Operations and Basis of Presentation for further details.

Condensed Consolidating Financi

Condensed Consolidating Financial Statements	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 191 $ 434 $ 977 $ (35 ) $ 1,567 Expenses: Operating-related expenses 34 117 323 (35 ) 439 Selling and general expenses 37 87 248 — 372 Depreciation 8 2 11 — 21 Amortization of intangibles — — 24 — 24 Total expenses 79 206 606 (35 ) 856 Operating profit 112 228 371 — 711 Other (income) expense, net (7 ) — 3 — (4 ) Interest expense (income), net 38 — (4 ) — 34 Non-operating intercompany transactions 100 (20 ) (1,096 ) 1,016 — Income before taxes on income (19 ) 248 1,468 (1,016 ) 681 (Benefit) provision for taxes on income (14 ) 71 90 — 147 Equity in net income of subsidiaries 1,512 — — (1,512 ) — Net income $ 1,507 $ 177 $ 1,378 $ (2,528 ) $ 534 Less: net income attributable to noncontrolling interests — — — (43 ) (43 ) Net income attributable to S&P Global Inc. $ 1,507 $ 177 $ 1,378 $ (2,571 ) $ 491 Comprehensive income $ 1,487 $ 177 $ 1,412 $ (2,533 ) $ 543 Statement of Income Three Months Ended March 31, 2017 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 180 $ 438 $ 867 $ (32 ) $ 1,453 Expenses: Operating-related expenses 31 119 293 (32 ) 411 Selling and general expenses 26 88 246 — 360 Depreciation 7 3 9 — 19 Amortization of intangibles — — 24 — 24 Total expenses 64 210 572 (32 ) 814 Operating profit 116 228 295 — 639 Other (income) expense, net (6 ) — (3 ) — (9 ) Interest expense (income), net 39 — (2 ) — 37 Non-operating intercompany transactions 82 (19 ) (901 ) 838 — Income before taxes on income 1 247 1,201 (838 ) 611 (Benefit) provision for taxes on income (11 ) 99 93 — 181 Equity in net income of subsidiaries 1,224 — — (1,224 ) — Net income $ 1,236 $ 148 $ 1,108 $ (2,062 ) $ 430 Less: net income attributable to noncontrolling interests — — — (31 ) (31 ) Net income attributable to S&P Global Inc. $ 1,236 $ 148 $ 1,108 $ (2,093 ) $ 399 Comprehensive income $ 1,238 $ 147 $ 1,147 $ (2,064 ) $ 468 Balance Sheet March 31, 2018 (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 $ 581 $ — $ 1,175 $ — $ 1,756 Accounts receivable, net of allowance for doubtful accounts 133 178 1,002 — 1,313 Intercompany receivable 608 1,454 2,887 (4,949 ) — Prepaid and other current assets 92 (4 ) 127 — 215 Total current assets 1,414 1,628 5,191 (4,949 ) 3,284 Property and equipment, net of accumulated depreciation 170 1 99 270 Goodwill 261 — 2,775 9 3,045 Other intangible assets, net — — 1,390 — 1,390 Investments in subsidiaries 7,069 5 8,085 (15,159 ) — Intercompany loans receivable 118 — 1,885 (2,003 ) — Other non-current assets 232 63 213 — 508 Total assets $ 9,264 $ 1,697 $ 19,638 $ (22,102 ) $ 8,497 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 79 $ 19 $ 98 $ — $ 196 Intercompany payable 3,577 29 1,343 (4,949 ) — Accrued compensation and contributions to retirement plans 84 14 97 — 195 Short-term debt 400 — — — 400 Income taxes currently payable 13 — 87 — 100 Unearned revenue 288 247 1,144 — 1,679 Accrued legal settlements — — 82 — 82 Other current liabilities 265 21 197 — 483 Total current liabilities 4,706 330 3,048 (4,949 ) 3,135 Long-term debt 3,170 — — — 3,170 Intercompany loans payable 102 — 1,901 (2,003 ) — Pension and other postretirement benefits 178 — 57 — 235 Other non-current liabilities 157 55 327 — 539 Total liabilities 8,313 385 5,333 (6,952 ) 7,079 Redeemable noncontrolling interest — — — 1,350 1,350 Equity: Common stock 412 — 2,318 (2,318 ) 412 Additional paid-in capital (415 ) 604 9,335 (9,189 ) 335 Retained income 11,780 708 3,056 (5,117 ) 10,427 Accumulated other comprehensive loss (289 ) — (382 ) 41 (630 ) Less: common stock in treasury (10,537 ) — (23 ) 23 (10,537 ) Total equity - controlling interests 951 1,312 14,304 (16,560 ) 7 Total equity - noncontrolling interests — — 1 60 61 Total equity 951 1,312 14,305 (16,500 ) 68 Total liabilities and equity $ 9,264 $ 1,697 $ 19,638 $ (22,102 ) $ 8,497 Balance Sheet December 31, 2017 (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 $ 632 $ — $ 2,147 $ — $ 2,779 Accounts receivable, net of allowance for doubtful accounts 138 152 1,029 — 1,319 Intercompany receivable 768 1,784 2,527 (5,079 ) — Prepaid and other current assets 143 (3 ) 86 — 226 Total current assets 1,681 1,933 5,789 (5,079 ) 4,324 Property and equipment, net of accumulated depreciation 158 10 107 — 275 Goodwill 261 — 2,719 9 2,989 Other intangible assets, net — — 1,388 — 1,388 Investments in subsidiaries 8,364 5 8,028 (16,397 ) — Intercompany loans receivable 116 — 1,699 (1,815 ) — Other non-current assets 215 61 174 (1 ) 449 Total assets $ 10,795 $ 2,009 $ 19,904 $ (23,283 ) $ 9,425 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 79 $ 23 $ 93 $ — $ 195 Intercompany payable 3,433 492 1,154 (5,079 ) — Accrued compensation and contributions to retirement plans 145 86 241 — 472 Short-term debt 399 — — — 399 Income taxes currently payable 2 — 75 — 77 Unearned revenue 293 193 1,127 — 1,613 Accrued legal settlements — 2 105 — 107 Other current liabilities 136 21 194 — 351 Total current liabilities 4,487 817 2,989 (5,079 ) 3,214 Long-term debt 3,170 — — — 3,170 Intercompany loans payable 101 — 1,715 (1,816 ) — Pension and other postretirement benefits 180 — 64 — 244 Other non-current liabilities 376 74 229 — 679 Total liabilities 8,314 891 4,997 (6,895 ) 7,307 Redeemable noncontrolling interest — — — 1,350 1,350 Equity: Common stock 412 — 2,318 (2,318 ) 412 Additional paid-in capital (216 ) 602 9,256 (9,117 ) 525 Retained income 12,156 516 3,782 (6,429 ) 10,025 Accumulated other comprehensive loss (269 ) — (426 ) 46 (649 ) Less: common stock in treasury (9,602 ) — (23 ) 23 (9,602 ) Total equity - controlling interests 2,481 1,118 14,907 (17,795 ) 711 Total equity - noncontrolling interests — — — 57 57 Total equity 2,481 1,118 14,907 (17,738 ) 768 Total liabilities and equity $ 10,795 $ 2,009 $ 19,904 $ (23,283 ) $ 9,425 Statement of Cash Flows Three Months Ended March 31, 2018 (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 $ 1,507 $ 177 $ 1,378 $ (2,528 ) $ 534 Adjustments to reconcile net income to cash provided by operating activities: Depreciation 8 2 11 — 21 Amortization of intangibles — — 24 — 24 Provision for losses on accounts receivable — 2 6 — 8 Stock-based compensation 5 3 5 — 13 Other (71 ) — 87 — 16 Changes in operating assets and liabilities, net of effect of acquisitions and dispositions: Accounts receivable 5 (27 ) 29 — 7 Prepaid and other current assets (18 ) 1 (4 ) — (21 ) Accounts payable and accrued expenses (60 ) (79 ) (150 ) — (289 ) Unearned revenue (4 ) 28 3 — 27 Accrued legal settlements (29 ) — — — (29 ) Other current liabilities 22 (2 ) (1 ) — 19 Net change in prepaid/accrued income taxes 73 1 — — 74 Net change in other assets and liabilities (37 ) — (7 ) — (44 ) Cash provided by operating activities 1,401 106 1,381 (2,528 ) 360 Investing Activities: Capital expenditures (23 ) (6 ) (4 ) — (33 ) Acquisitions, net of cash acquired — — (57 ) — (57 ) Changes in short-term investments — — 3 — 3 Cash used for investing activities (23 ) (6 ) (58 ) — (87 ) Financing Activities: Dividends paid to shareholders (127 ) — — — (127 ) Distributions to noncontrolling interest holders — — (50 ) — (50 ) Repurchase of treasury shares (1,100 ) — — — (1,100 ) Exercise of stock options 10 — — 10 Employee withholding tax on share-based payments (49 ) — — — (49 ) Intercompany financing activities (158 ) (100 ) (2,270 ) 2,528 — Cash used for financing activities (1,424 ) (100 ) (2,320 ) 2,528 (1,316 ) Effect of exchange rate changes on cash from continuing operations (5 ) — 25 — 20 Net change in cash and cash equivalents (51 ) — (972 ) — (1,023 ) Cash and cash equivalents at beginning of period 632 — 2,147 — 2,779 Cash and cash equivalents at end of period $ 581 $ — $ 1,175 $ — $ 1,756 Statement of Cash Flows Three Months Ended March 31, 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 $ 1,236 $ 148 $ 1,108 $ (2,062 ) $ 430 Adjustments to reconcile net income to cash provided by operating activities: Depreciation 7 3 9 — 19 Amortization of intangibles — — 24 — 24 Provision for losses on accounts receivable 1 1 3 — 5 Stock-based compensation 7 4 8 — 19 Other 5 — 8 — 13 Changes in operating assets and liabilities, net of effect of acquisitions and dispositions: Accounts receivable 8 (59 ) 63 — 12 Prepaid and other current assets 8 3 (2 ) — 9 Accounts payable and accrued expenses (61 ) 12 (186 ) — (235 ) Unearned revenue 5 25 (36 ) — (6 ) Accrued legal settlements — (1 ) — — (1 ) Other current liabilities (35 ) (3 ) (20 ) — (58 ) Net change in prepaid/accrued income taxes 123 — 23 — 146 Net change in other assets and liabilities (6 ) (4 ) (14 ) — (24 ) Cash provided by operating activities 1,298 129 988 (2,062 ) 353 Investing Activities: Capital expenditures (4 ) (4 ) (15 ) — (23 ) Acquisitions, net of cash acquired — — (1 ) — (1 ) Proceeds from dispositions — — 2 — 2 Cash used for investing activities (4 ) (4 ) (14 ) — (22 ) Financing Activities: Dividends paid to shareholders (106 ) — — — (106 ) Distributions to noncontrolling interest holders — — (24 ) — (24 ) Repurchase of treasury shares (201 ) — — — (201 ) Exercise of stock options 29 — — — 29 Employee withholding tax on share-based payments (44 ) — — — (44 ) Intercompany financing activities (1,056 ) (125 ) (881 ) 2,062 — Cash used for financing activities (1,378 ) (125 ) (905 ) 2,062 (346 ) Effect of exchange rate changes on cash from continuing operations — — 34 — 34 Net change in cash and cash equivalents (84 ) — 103 — 19 Cash and cash equivalents at beginning of period 711 — 1,681 — 2,392 Cash and cash equivalents at end of period $ 627 $ — $ 1,784 $ — $ 2,411

Nature of Operations and Basi23

Nature of Operations and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2018
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, 2017 (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 months ended March 31, 2018 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	In August of 2017, FASB issued guidance to enhance the hedge accounting model for both nonfinancial and financial risk components, which includes amendments to address certain aspects of recognition and presentation disclosure. The guidance is effective for reporting periods beginning after December 15, 2018. We do not expect this guidance to have a significant impact on our consolidated financial instruments. 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 was effective on January 1, 2018, and the adoption of this guidance did not 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. Additionally, only the service cost component is eligible for capitalization. We adopted the guidance on January 1, 2018. The change in capitalization requirement did not have a material impact on our consolidated financial statements. As a result of the adoption of the guidance, net periodic benefit cost for our retirement and postretirement plans other than the service cost component are included in other (income) expense, net in our consolidated statements of income. See Note 6 — Employee Benefits for additional information related to our retirement and postretirement plans. 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 was effective on January 1, 2018, and the adoption of this guidance did not 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 was effective on January 1, 2018, and the adoption of this guidance did not have a significant impact on our consolidated financial statements. In February of 2016, the FASB issued guidance that amends accounting for leases. Under the new guidance, a lessee will recognize assets and liabilities but will recognize expenses similar to current lease accounting. The guidance is effective for reporting periods beginning after December 15, 2018; however early adoption is permitted. The new guidance must be adopted using a modified retrospective approach to each prior reporting period presented with various optional practical expedients. We are in the process of designing our implementation plan to adopt the new standard for the January 1, 2019 implementation date and are continuing to evaluate 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. We adopted this guidance on January 1, 2018. We recorded a reduction to opening retained earnings and an increase to accumulated other comprehensive income of $10 million as of January 1, 2018 due to the adoption of this guidance. The adoption of this guidance did not 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 also results in enhanced revenue disclosures, provides guidance for transactions that were not previously addressed comprehensively and improves guidance for multiple-element arrangements. We adopted the new revenue standard effective January 1, 2018 using the modified retrospective transition method. See Note 1 — Nature of Operations and Basis of Presentation for further details.
Adoption of ASC 606, Revenue from Contracts with Customers	Adoption of ASC 606, “Revenue from Contracts with Customers” On January 1, 2018, we adopted ASC 606 "Revenue from Contracts with Customers" using the modified retrospective transition method applied to our revenue contracts with customers as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under ASC 606, while prior year amounts are not adjusted and continue to be reported in accordance with our historic accounting under ASC 605. We recorded a net increase to opening retained earnings of $35 million as of January 1, 2018 due to the cumulative effect of adopting ASC 606, with the impact primarily related to our treatment of costs to obtain a contract and to a lesser extent, changes to the timing of the recognition of our subscription and non-transaction revenues. We recognized additional revenue of $3 million for three months ended March 31, 2018 as a result of the adoption of this standard. Under ASC 606, revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration the entity expects to receive in exchange for those goods or services. The following table presents our revenue disaggregated by revenue type: (in millions) Three Months Ended March 31, 2018 Ratings Market Intelligence Platts Indices Intersegment Elimination 1 Total Subscription $ — $ 424 $ 181 $ 33 $ — $ 638 Non-transaction 380 — — — (28 ) 352 Non-subscription / Transaction 368 8 2 — — 378 Asset-linked fees — 5 — 131 — 136 Sales usage-based royalties — — 13 50 — 63 Total revenue $ 748 $ 437 $ 196 $ 214 $ (28 ) $ 1,567 Timing of revenue recognition Services transferred at a point in time $ 368 $ 8 $ 2 $ — $ — $ 378 Services transferred over time 380 429 194 214 (28 ) 1,189 Total revenue $ 748 $ 437 $ 196 $ 214 $ (28 ) $ 1,567 (in millions) Three Months Ended March 31, 2017 2 Ratings Market Intelligence Platts Indices Intersegment Elimination 1 Total Subscription $ — $ 385 $ 172 $ 31 $ — $ 588 Non-transaction 341 — — — (25 ) 316 Non-subscription / Transaction 373 11 3 — — 387 Asset-linked fees — 6 — 108 — 114 Sales usage-based royalties — — 16 32 — 48 Total revenue $ 714 $ 402 $ 191 $ 171 $ (25 ) $ 1,453 Timing of revenue recognition Services transferred at a point in time $ 373 $ 11 $ 3 $ — $ — $ 387 Services transferred over time 341 391 188 171 (25 ) 1,066 Total revenue $ 714 $ 402 $ 191 $ 171 $ (25 ) $ 1,453 1 Intersegment eliminations mainly consists of a royalty charged to Market Intelligence for the rights to use and distribute content and data developed by Ratings. 2 As noted above, amounts for the three month ended March 31, 2017 were not adjusted under the modified retrospective transition method applied to our revenue contracts with customers as of January 1, 2018. Subscription revenue Subscription revenue at Market Intelligence is primarily derived from distribution of data, analytics, third party research, and credit ratings-related information primarily through web-based channels including Market Intelligence Desktop, RatingsDirect®, RatingsXpress®, and Credit Analytics. Subscription revenue at Platts is generated by providing customers access to commodity and energy-related price assessments, market data, and real-time news, along with other information services. Subscription revenue at Indices is derived from the contracts for underlying data of our indexes to support our customers' management of index funds, portfolio analytics, and research. For subscription products and services, we generally provide continuous access to dynamic data sets and analytics for a defined period, with revenue recognized ratably as our performance obligation to provide access to our data and analytics is progressively fulfilled over the stated term of the contract. Non-transaction revenue Non-transaction revenue at Ratings is primarily related to surveillance of a credit rating, annual fees for customer relationship-based pricing programs, fees for entity credit ratings and global research and analytics. Non-transaction revenue also includes an intersegment revenue elimination of $28 million and $25 million for the three months ended March 31, 2018 and 2017, respectively, mainly consisting of the royalty charged to Market Intelligence for the rights to use and distribute content and data developed by Ratings. For non-transaction revenue related to Rating’s surveillance services, we continuously monitor factors that impact the creditworthiness of an issuer over the contractual term with revenue recognized to the extent that our performance obligation is progressively fulfilled over the term contract. Because surveillance services are continuously provided throughout the term of the contract, our measure of progress towards fulfillment of our obligation to monitor a rating is a time-based output measure with revenue recognized ratably over the term of the contract. Non-subscription / Transaction revenue Transaction revenue at our Ratings segment primarily includes fees associated with: • ratings related to new issuance of corporate and government debt instruments; and structured finance instruments; • bank loan ratings; and • corporate credit estimates, which are intended, based on an abbreviated analysis, to provide an indication of our opinion regarding creditworthiness of a company which does not currently have a Ratings credit rating. Transaction revenue is recognized at the point in time when our performance obligation is satisfied by issuing a rating on our customer's instruments, our customer's creditworthiness, or a counter-party's creditworthiness and when we have a right to payment and the customer can benefit from the significant risks and rewards of ownership. Non-subscription revenue at Market Intelligence is primarily related to certain advisory, pricing and analytical services. Non-subscription revenue at Platts is primarily related conference sponsorship, consulting engagements and events. Asset-linked fees Asset-linked fees at Indices and Market Intelligence are primarily related to royalties payments based on the value of assets under management in our customers exchange-traded funds and mutual funds. For asset-linked products and services, we provide licenses conveying continuous access to our index and benchmark related intellectual property during a specified contract term. Revenue is recognized when the extent that our customers have used our licensed intellectual property can be quantified. Recognition of revenue for our asset-linked fee arrangements is subject to the "recognition constraint" for usage-based royalty payments because we cannot reasonably predict the value of the assets that will be invested in index funds structured using our intellectual property until it is either publicly available or when we are notified by our customers. Revenue derived from an asset-linked fee arrangement is measured and recognized when the uncertainty of the extent of its utilization of our index products by our customers is known. Sales usage-based royalties Sales and usage-based royalty revenue at our Indices segment is primarily related to trading based fees from exchange-traded derivatives. Sales and usage-based royalty revenue at our Platts segment is primarily related to licensing of its proprietary market price data and price assessments to commodity exchanges. For sales and usage-based royalty products and services, we provide licenses conveying the right to continuous access to our intellectual property over the contract term, with revenue recognized when the extent of our license’s utilization can be quantified, or more specifically, when trading volumes are known and publicly available to us or when we are notified by our customers. Recognition of revenue of fees tied to trading volumes is subject to the recognition constraint for a usage-based royalty promised by our customers in exchange for the license of our intellectual property, with revenue recognized when trading volumes are known. Arrangements with Multiple Performance Obligations Our contracts with customers may include multiple performance obligations. Revenue relating to agreements that provide for more than one performance obligation is recognized based upon the relative fair value to the customer of each service component as each component is earned. The fair value of the service components are determined using an analysis that considers cash consideration that would be received for instances when the service components are sold separately. If the fair value to the customer for each service is not objectively determinable, we make our best estimate of the services’ stand-alone selling price and records revenue as it is earned over the service period. Receivables We record a receivable when a customer is billed or when revenue is recognized prior to billing a customer. For multi-year agreements, we generally invoice customers annually at the beginning of each annual period. The opening balance of accounts receivable, net of allowance for doubtful accounts, was $1,319 million as of January 1, 2018. Contract Assets Contract assets include unbilled amounts that result from when the Company transfers service to a customer before a customer pays consideration or before payment is due. As of March 31, 2018 and December 31, 2017, contract assets were $28 million and $17 million , respectively, and are included in accounts receivable in our consolidated balance sheets. Unearned Revenue We record unearned revenue when cash payments are received or due in advance of our performance. The increase in the deferred revenue balance for the three months ended March 31, 2018 is primarily driven by cash payments received or due in advance of satisfying our performance obligations, offset by $710 million of revenues recognized that were included in the unearned revenue balance at the beginning of the period. Remaining Performance Obligations Remaining performance obligations represent the transaction price of contracts for which work has not yet been performed. As of March 31, 2018, the aggregate amount of the transaction price allocated to remaining performance obligations was $1.2 billion . We expect to recognize revenue on approximately half and three-quarters of the remaining performance obligations over the next 12 and 24 months, respectively, with the remainder recognized thereafter. We do not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts where revenue is a usage-based royalty promised in exchange for a license of intellectual property. Costs to Obtain a Contract We recognize an asset for the incremental costs of obtaining a contract with a customer if we expect the benefit of those costs to be longer than one year. We have determined that certain sales commission programs meet the requirements to be capitalized. Total capitalized costs to obtain a contract were $81 million as of March 31, 2018, and is included in other current and long-term assets on our consolidated balance sheets. The asset will be amortized over a period consistent with the transfer to the customer of the goods or services to which the asset relates, calculated based on the customer term and the average life of the products and services underlying the contracts. The expense is recorded within selling and general expenses. We expense sales commissions when incurred if the amortization period would have been one year or less. These costs are recorded within selling and general expenses.

Nature of Operations and Basi24

Nature of Operations and Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Revenue Disaggregated by Revenue Type	The following table presents our revenue disaggregated by revenue type: (in millions) Three Months Ended March 31, 2018 Ratings Market Intelligence Platts Indices Intersegment Elimination 1 Total Subscription $ — $ 424 $ 181 $ 33 $ — $ 638 Non-transaction 380 — — — (28 ) 352 Non-subscription / Transaction 368 8 2 — — 378 Asset-linked fees — 5 — 131 — 136 Sales usage-based royalties — — 13 50 — 63 Total revenue $ 748 $ 437 $ 196 $ 214 $ (28 ) $ 1,567 Timing of revenue recognition Services transferred at a point in time $ 368 $ 8 $ 2 $ — $ — $ 378 Services transferred over time 380 429 194 214 (28 ) 1,189 Total revenue $ 748 $ 437 $ 196 $ 214 $ (28 ) $ 1,567 (in millions) Three Months Ended March 31, 2017 2 Ratings Market Intelligence Platts Indices Intersegment Elimination 1 Total Subscription $ — $ 385 $ 172 $ 31 $ — $ 588 Non-transaction 341 — — — (25 ) 316 Non-subscription / Transaction 373 11 3 — — 387 Asset-linked fees — 6 — 108 — 114 Sales usage-based royalties — — 16 32 — 48 Total revenue $ 714 $ 402 $ 191 $ 171 $ (25 ) $ 1,453 Timing of revenue recognition Services transferred at a point in time $ 373 $ 11 $ 3 $ — $ — $ 387 Services transferred over time 341 391 188 171 (25 ) 1,066 Total revenue $ 714 $ 402 $ 191 $ 171 $ (25 ) $ 1,453 1 Intersegment eliminations mainly consists of a royalty charged to Market Intelligence for the rights to use and distribute content and data developed by Ratings. 2 As noted above, amounts for the three month ended March 31, 2017 were not adjusted under the modified retrospective transition method applied to our revenue contracts with customers as of January 1, 2018.
Schedule of Components of Other (Income) Expense, Net [Table Text Block]	The components of other (income) expense, net for the three months ended March 31 are as follows: (in millions) 2018 2017 Other components of net periodic benefit cost $ (8 ) $ (9 ) Net loss from investments 1 4 — Other (income) expense, net $ (4 ) $ (9 ) 1 Primarily relates to the change in fair value of CRISIL's investment in Care Ratings Limited ("CARE"). The investment balance of CARE as of March 31, 2018 and December 31, 2017 is $49 million and $54 million , respectively, and is included in non-current assets in our consolidated balance sheets.

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Schedule of Debt	A summary of short-term and long-term debt outstanding is as follows: (in millions) March 31, December 31, 2.5% Senior Notes, due 2018 1 $ 400 $ 399 3.3% Senior Notes, due 2020 2 697 697 4.0% Senior Notes, due 2025 3 692 692 4.4% Senior Notes, due 2026 4 892 892 2.95% Senior Notes, due 2027 5 493 493 6.55% Senior Notes, due 2037 6 396 396 Total debt 3,570 3,569 Less: short-term debt including current maturities 400 399 Long-term debt $ 3,170 $ 3,170 1 Interest payments are due semiannually on February 15 and August 15, and as of March 31, 2018 , the unamortized debt discount and issuance costs are less than $1 million . 2 Interest payments are due semiannually on February 14 and August 14, and as of March 31, 2018 , the unamortized debt discount and issuance costs total $3 million . 3 Interest payments are due semiannually on June 15 and December 15, and as of March 31, 2018 , the unamortized debt discount and issuance costs total $8 million . 4 Interest payments are due semiannually on February 15 and August 15, and as of March 31, 2018 , 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 March 31, 2018 , the unamortized debt discount and issuance costs total $7 million . 6 Interest payments are due semiannually on May 15 and November 15, and as of March 31, 2018 , the unamortized debt discount and issuance costs total $4 million .

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 and December 31, 2017 : (in millions) Balance Sheet Location March 31, 2018 December 31, 2017 Prepaid and other current assets Foreign exchange forward contracts $ 3 $ 3 Other current liabilities Foreign exchange forward contracts $ 1 $ —
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 three months ended March 31 : (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 2018 2017 2018 2017 Foreign exchange forward contracts $ 1 $ 5 Selling and general expenses $ 1 $ 1
Schedule of 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 three months ended March 31 : (in millions) Three Months 2018 2017 Net unrealized gains on cash flow hedges, net of taxes, beginning of period $ 2 $ 2 Change in fair value, net of tax 2 6 Reclassification into earnings, net of tax (1 ) (1 ) Net unrealized gains on cash flow hedges, net of taxes, end of period $ 3 $ 7

Employee Benefits (Tables)

Employee Benefits (Tables)	3 Months Ended
	Mar. 31, 2018
Compensation and Retirement Disclosure [Abstract]
Schedule of Components of Net Periodic Benefit Cost (Credit)	The components of net periodic benefit cost for our retirement plans and postretirement plans for the three months ended March 31 are as follows: (in millions) 2018 2017 Service cost $ 1 $ 1 Interest cost 18 18 Expected return on assets (32 ) (31 ) Amortization of actuarial loss 4 4 Net periodic benefit cost $ (9 ) $ (8 )

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Stock-Based Compensation	Stock-based compensation for the three months ended March 31 is as follows: (in millions) 2018 2017 Stock option expense $ 1 $ 1 Restricted stock and unit awards expense 12 18 Total stock-based compensation expense $ 13 $ 19

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Schedule of Share Repurchases	Share repurchases for the three months ended March 31 were as follows: (in millions, except average price) 2018 2017 Total number of shares purchased 1 5.0 1.5 Average price paid per share 2 $ 178.11 $ 129.97 Total cash utilized $ 1,100 $ 201 1 The three months ended March 31, 2018 include shares received as part of our accelerated share repurchase agreement described in more detail below. 2 Average price paid per share information does not include the accelerated share repurchase agreement as discussed in more detail below.
Schedule of Redeemable Noncontrolling Interest	Changes to redeemable noncontrolling interest during the three months ended March 31, 2018 were as follows: (in millions) Balance as of December 31, 2017 $ 1,350 Net income attributable to noncontrolling interest 40 Distributions payable to noncontrolling interest (28 ) Redemption value adjustment (12 ) Balance as of March 31, 2018 $ 1,350
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 three months ended March 31, 2018 : (in millions) Foreign Currency Translation Adjustment Pension and Postretirement Benefit Plans Unrealized Gain (Loss) on Forward Exchange Contracts Unrealized Gain (Loss) on Investments Accumulated Other Comprehensive Loss Balance as of December 31, 2017 $ (239 ) $ (402 ) $ 2 (10 ) $ (649 ) Other comprehensive income before reclassifications 5 — 2 10 17 Reclassifications from accumulated other comprehensive loss to net earnings — 3 1 (1 ) 2 — 2 Net other comprehensive income 5 3 1 10 19 Balance as of March 31, 2018 $ (234 ) $ (399 ) $ 3 $ — $ (630 ) 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)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Schedule of Calculation for Basic and Diluted Earnings Per Share	The calculation for basic and diluted EPS for the three months ended March 31 is as follows: (in millions, except per share amounts) 2018 2017 Amounts attributable to S&P Global Inc. common shareholders: Net income $ 491 $ 399 Basic weighted-average number of common shares outstanding 252.4 258.2 Effect of stock options and other dilutive securities 2.0 2.6 Diluted weighted-average number of common shares outstanding 254.4 260.8 Earnings per share attributable to S&P Global Inc. common shareholders: Net income: Basic $ 1.94 $ 1.54 Diluted $ 1.93 $ 1.53

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 by segment is as follows: 2017 Restructuring Plans (in millions) Initial Charge Recorded Ending Reserve Balance Ratings $ 25 $ 21 Market Intelligence 8 4 Platts 1 — Indices — — Corporate 10 8 Total $ 44 $ 33

Segment and Related Informati32

Segment and Related Information (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Schedule of Operating Results by Segment	A summary of operating results by reportable segment for the three months ended March 31 is as follows: 2018 2017 (in millions) Revenue Operating Profit Revenue Operating Profit Ratings 1 $ 748 $ 408 $ 714 $ 374 Market Intelligence 2 437 112 402 104 Platts 3 196 90 191 82 Indices 4 214 147 171 115 Intersegment elimination 5 (28 ) — (25 ) — Total operating segments 1,567 757 1,453 675 Unallocated expense — (46 ) — (36 ) Total $ 1,567 $ 711 $ 1,453 $ 639 1 Operating profit for 2017 includes legal settlement expenses of $2 million and amortization of intangibles from acquisitions of $1 million . 2 Operating profit for 2018 and 2017 includes amortization of intangibles from acquisitions of $17 million . Operating profit for 2017 includes non-cash disposition-related adjustments of $4 million . 3 Operating profit for 2018 and 2017 includes amortization of intangibles from acquisitions of $5 million . Operating profit for 2017 includes non-cash acquisition-related adjustments of $11 million . 4 Operating profit for 2018 and 2017 includes amortization of intangibles from acquisitions of $2 million and $1 million , respectively. 5 Revenue for Ratings and expenses for Market Intelligence include an intersegment royalty charged to Market Intelligence for the rights to use and distribute content and data developed by Ratings.
Schedule of Revenue by Geographic Region	The following provides revenue by geographic region for the three months ended March 31 : (in millions) 2018 2017 U.S. $ 951 $ 891 European region 381 346 Asia 156 132 Rest of the world 79 84 Total $ 1,567 $ 1,453

Condensed Consolidating Finan33

Condensed Consolidating Financial Statements (Tables)	3 Months Ended
	Mar. 31, 2018
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Schedule of the Statement of Income	Statement of Income Three Months Ended March 31, 2018 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 191 $ 434 $ 977 $ (35 ) $ 1,567 Expenses: Operating-related expenses 34 117 323 (35 ) 439 Selling and general expenses 37 87 248 — 372 Depreciation 8 2 11 — 21 Amortization of intangibles — — 24 — 24 Total expenses 79 206 606 (35 ) 856 Operating profit 112 228 371 — 711 Other (income) expense, net (7 ) — 3 — (4 ) Interest expense (income), net 38 — (4 ) — 34 Non-operating intercompany transactions 100 (20 ) (1,096 ) 1,016 — Income before taxes on income (19 ) 248 1,468 (1,016 ) 681 (Benefit) provision for taxes on income (14 ) 71 90 — 147 Equity in net income of subsidiaries 1,512 — — (1,512 ) — Net income $ 1,507 $ 177 $ 1,378 $ (2,528 ) $ 534 Less: net income attributable to noncontrolling interests — — — (43 ) (43 ) Net income attributable to S&P Global Inc. $ 1,507 $ 177 $ 1,378 $ (2,571 ) $ 491 Comprehensive income $ 1,487 $ 177 $ 1,412 $ (2,533 ) $ 543 Statement of Income Three Months Ended March 31, 2017 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 180 $ 438 $ 867 $ (32 ) $ 1,453 Expenses: Operating-related expenses 31 119 293 (32 ) 411 Selling and general expenses 26 88 246 — 360 Depreciation 7 3 9 — 19 Amortization of intangibles — — 24 — 24 Total expenses 64 210 572 (32 ) 814 Operating profit 116 228 295 — 639 Other (income) expense, net (6 ) — (3 ) — (9 ) Interest expense (income), net 39 — (2 ) — 37 Non-operating intercompany transactions 82 (19 ) (901 ) 838 — Income before taxes on income 1 247 1,201 (838 ) 611 (Benefit) provision for taxes on income (11 ) 99 93 — 181 Equity in net income of subsidiaries 1,224 — — (1,224 ) — Net income $ 1,236 $ 148 $ 1,108 $ (2,062 ) $ 430 Less: net income attributable to noncontrolling interests — — — (31 ) (31 ) Net income attributable to S&P Global Inc. $ 1,236 $ 148 $ 1,108 $ (2,093 ) $ 399 Comprehensive income $ 1,238 $ 147 $ 1,147 $ (2,064 ) $ 468
Schedule of the Balance Sheet	Balance Sheet March 31, 2018 (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 $ 581 $ — $ 1,175 $ — $ 1,756 Accounts receivable, net of allowance for doubtful accounts 133 178 1,002 — 1,313 Intercompany receivable 608 1,454 2,887 (4,949 ) — Prepaid and other current assets 92 (4 ) 127 — 215 Total current assets 1,414 1,628 5,191 (4,949 ) 3,284 Property and equipment, net of accumulated depreciation 170 1 99 270 Goodwill 261 — 2,775 9 3,045 Other intangible assets, net — — 1,390 — 1,390 Investments in subsidiaries 7,069 5 8,085 (15,159 ) — Intercompany loans receivable 118 — 1,885 (2,003 ) — Other non-current assets 232 63 213 — 508 Total assets $ 9,264 $ 1,697 $ 19,638 $ (22,102 ) $ 8,497 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 79 $ 19 $ 98 $ — $ 196 Intercompany payable 3,577 29 1,343 (4,949 ) — Accrued compensation and contributions to retirement plans 84 14 97 — 195 Short-term debt 400 — — — 400 Income taxes currently payable 13 — 87 — 100 Unearned revenue 288 247 1,144 — 1,679 Accrued legal settlements — — 82 — 82 Other current liabilities 265 21 197 — 483 Total current liabilities 4,706 330 3,048 (4,949 ) 3,135 Long-term debt 3,170 — — — 3,170 Intercompany loans payable 102 — 1,901 (2,003 ) — Pension and other postretirement benefits 178 — 57 — 235 Other non-current liabilities 157 55 327 — 539 Total liabilities 8,313 385 5,333 (6,952 ) 7,079 Redeemable noncontrolling interest — — — 1,350 1,350 Equity: Common stock 412 — 2,318 (2,318 ) 412 Additional paid-in capital (415 ) 604 9,335 (9,189 ) 335 Retained income 11,780 708 3,056 (5,117 ) 10,427 Accumulated other comprehensive loss (289 ) — (382 ) 41 (630 ) Less: common stock in treasury (10,537 ) — (23 ) 23 (10,537 ) Total equity - controlling interests 951 1,312 14,304 (16,560 ) 7 Total equity - noncontrolling interests — — 1 60 61 Total equity 951 1,312 14,305 (16,500 ) 68 Total liabilities and equity $ 9,264 $ 1,697 $ 19,638 $ (22,102 ) $ 8,497 Balance Sheet December 31, 2017 (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 $ 632 $ — $ 2,147 $ — $ 2,779 Accounts receivable, net of allowance for doubtful accounts 138 152 1,029 — 1,319 Intercompany receivable 768 1,784 2,527 (5,079 ) — Prepaid and other current assets 143 (3 ) 86 — 226 Total current assets 1,681 1,933 5,789 (5,079 ) 4,324 Property and equipment, net of accumulated depreciation 158 10 107 — 275 Goodwill 261 — 2,719 9 2,989 Other intangible assets, net — — 1,388 — 1,388 Investments in subsidiaries 8,364 5 8,028 (16,397 ) — Intercompany loans receivable 116 — 1,699 (1,815 ) — Other non-current assets 215 61 174 (1 ) 449 Total assets $ 10,795 $ 2,009 $ 19,904 $ (23,283 ) $ 9,425 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 79 $ 23 $ 93 $ — $ 195 Intercompany payable 3,433 492 1,154 (5,079 ) — Accrued compensation and contributions to retirement plans 145 86 241 — 472 Short-term debt 399 — — — 399 Income taxes currently payable 2 — 75 — 77 Unearned revenue 293 193 1,127 — 1,613 Accrued legal settlements — 2 105 — 107 Other current liabilities 136 21 194 — 351 Total current liabilities 4,487 817 2,989 (5,079 ) 3,214 Long-term debt 3,170 — — — 3,170 Intercompany loans payable 101 — 1,715 (1,816 ) — Pension and other postretirement benefits 180 — 64 — 244 Other non-current liabilities 376 74 229 — 679 Total liabilities 8,314 891 4,997 (6,895 ) 7,307 Redeemable noncontrolling interest — — — 1,350 1,350 Equity: Common stock 412 — 2,318 (2,318 ) 412 Additional paid-in capital (216 ) 602 9,256 (9,117 ) 525 Retained income 12,156 516 3,782 (6,429 ) 10,025 Accumulated other comprehensive loss (269 ) — (426 ) 46 (649 ) Less: common stock in treasury (9,602 ) — (23 ) 23 (9,602 ) Total equity - controlling interests 2,481 1,118 14,907 (17,795 ) 711 Total equity - noncontrolling interests — — — 57 57 Total equity 2,481 1,118 14,907 (17,738 ) 768 Total liabilities and equity $ 10,795 $ 2,009 $ 19,904 $ (23,283 ) $ 9,425
Schedule of the Statement of Cash Flows	Statement of Cash Flows Three Months Ended March 31, 2018 (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 $ 1,507 $ 177 $ 1,378 $ (2,528 ) $ 534 Adjustments to reconcile net income to cash provided by operating activities: Depreciation 8 2 11 — 21 Amortization of intangibles — — 24 — 24 Provision for losses on accounts receivable — 2 6 — 8 Stock-based compensation 5 3 5 — 13 Other (71 ) — 87 — 16 Changes in operating assets and liabilities, net of effect of acquisitions and dispositions: Accounts receivable 5 (27 ) 29 — 7 Prepaid and other current assets (18 ) 1 (4 ) — (21 ) Accounts payable and accrued expenses (60 ) (79 ) (150 ) — (289 ) Unearned revenue (4 ) 28 3 — 27 Accrued legal settlements (29 ) — — — (29 ) Other current liabilities 22 (2 ) (1 ) — 19 Net change in prepaid/accrued income taxes 73 1 — — 74 Net change in other assets and liabilities (37 ) — (7 ) — (44 ) Cash provided by operating activities 1,401 106 1,381 (2,528 ) 360 Investing Activities: Capital expenditures (23 ) (6 ) (4 ) — (33 ) Acquisitions, net of cash acquired — — (57 ) — (57 ) Changes in short-term investments — — 3 — 3 Cash used for investing activities (23 ) (6 ) (58 ) — (87 ) Financing Activities: Dividends paid to shareholders (127 ) — — — (127 ) Distributions to noncontrolling interest holders — — (50 ) — (50 ) Repurchase of treasury shares (1,100 ) — — — (1,100 ) Exercise of stock options 10 — — 10 Employee withholding tax on share-based payments (49 ) — — — (49 ) Intercompany financing activities (158 ) (100 ) (2,270 ) 2,528 — Cash used for financing activities (1,424 ) (100 ) (2,320 ) 2,528 (1,316 ) Effect of exchange rate changes on cash from continuing operations (5 ) — 25 — 20 Net change in cash and cash equivalents (51 ) — (972 ) — (1,023 ) Cash and cash equivalents at beginning of period 632 — 2,147 — 2,779 Cash and cash equivalents at end of period $ 581 $ — $ 1,175 $ — $ 1,756 Statement of Cash Flows Three Months Ended March 31, 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 $ 1,236 $ 148 $ 1,108 $ (2,062 ) $ 430 Adjustments to reconcile net income to cash provided by operating activities: Depreciation 7 3 9 — 19 Amortization of intangibles — — 24 — 24 Provision for losses on accounts receivable 1 1 3 — 5 Stock-based compensation 7 4 8 — 19 Other 5 — 8 — 13 Changes in operating assets and liabilities, net of effect of acquisitions and dispositions: Accounts receivable 8 (59 ) 63 — 12 Prepaid and other current assets 8 3 (2 ) — 9 Accounts payable and accrued expenses (61 ) 12 (186 ) — (235 ) Unearned revenue 5 25 (36 ) — (6 ) Accrued legal settlements — (1 ) — — (1 ) Other current liabilities (35 ) (3 ) (20 ) — (58 ) Net change in prepaid/accrued income taxes 123 — 23 — 146 Net change in other assets and liabilities (6 ) (4 ) (14 ) — (24 ) Cash provided by operating activities 1,298 129 988 (2,062 ) 353 Investing Activities: Capital expenditures (4 ) (4 ) (15 ) — (23 ) Acquisitions, net of cash acquired — — (1 ) — (1 ) Proceeds from dispositions — — 2 — 2 Cash used for investing activities (4 ) (4 ) (14 ) — (22 ) Financing Activities: Dividends paid to shareholders (106 ) — — — (106 ) Distributions to noncontrolling interest holders — — (24 ) — (24 ) Repurchase of treasury shares (201 ) — — — (201 ) Exercise of stock options 29 — — — 29 Employee withholding tax on share-based payments (44 ) — — — (44 ) Intercompany financing activities (1,056 ) (125 ) (881 ) 2,062 — Cash used for financing activities (1,378 ) (125 ) (905 ) 2,062 (346 ) Effect of exchange rate changes on cash from continuing operations — — 34 — 34 Net change in cash and cash equivalents (84 ) — 103 — 19 Cash and cash equivalents at beginning of period 711 — 1,681 — 2,392 Cash and cash equivalents at end of period $ 627 $ — $ 1,784 $ — $ 2,411

Nature of Operations and Basi34

Nature of Operations and Basis of Presentation - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)Segment	Mar. 31, 2017USD ($)	Jan. 01, 2018USD ($)	Dec. 31, 2017USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments | Segment	4
Disaggregation of Revenue [Line Items]
Retained income	$ 10,427			$ 10,025
Revenue from contract with customer, excluding assessed tax	1,567	$ 1,453
Contract asset	28			$ 17
Accounting Standards Update 2014-09 | Difference between Revenue Guidance in Effect before and after Topic 606
Disaggregation of Revenue [Line Items]
Retained income			$ 35
Revenue from contract with customer, excluding assessed tax	3
Intersegment revenue	28	$ 25
Accounts receivable, net			$ 1,319
Unearned revenue	710
Revenue expected to be recognized as of March 31, 2018	1,200
Capitalized contract costs	$ 81
Minimum | Accounting Standards Update 2014-09 | Difference between Revenue Guidance in Effect before and after Topic 606
Disaggregation of Revenue [Line Items]
Expected timing of satisfaction of remaining performance obligation	12 months
Maximum | Accounting Standards Update 2014-09 | Difference between Revenue Guidance in Effect before and after Topic 606
Disaggregation of Revenue [Line Items]
Expected timing of satisfaction of remaining performance obligation	24 months

Nature of Operations and Basi35

Nature of Operations and Basis of Presentation - Revenue Disaggregated by Revenue Type (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	$ 1,567	$ 1,453
Intersegment Elimination
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	(28)	(25)
Ratings | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	748	714
Market Intelligence | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	437	402
Platts | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	196	191
Indices | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	214	171
Subscription
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	638	588
Subscription | Intersegment Elimination
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0
Subscription | Ratings | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0
Subscription | Market Intelligence | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	424	385
Subscription | Platts | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	181	172
Subscription | Indices | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	33	31
Non-transaction
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	352	316
Non-transaction | Intersegment Elimination
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	(28)	(25)
Non-transaction | Ratings | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	380	341
Non-transaction | Market Intelligence | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0
Non-transaction | Platts | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0
Non-transaction | Indices | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0
Non-subscription / Transaction
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	378	387
Non-subscription / Transaction | Intersegment Elimination
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0
Non-subscription / Transaction | Ratings | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	368	373
Non-subscription / Transaction | Market Intelligence | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	8	11
Non-subscription / Transaction | Platts | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	2	3
Non-subscription / Transaction | Indices | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0
Asset-linked fees
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	136	114
Asset-linked fees | Intersegment Elimination
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0
Asset-linked fees | Ratings | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0
Asset-linked fees | Market Intelligence | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	5	6
Asset-linked fees | Platts | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0
Asset-linked fees | Indices | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	131	108
Sales usage-based royalties
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	63	48
Sales usage-based royalties | Intersegment Elimination
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0
Sales usage-based royalties | Ratings | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0
Sales usage-based royalties | Market Intelligence | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0
Sales usage-based royalties | Platts | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	13	16
Sales usage-based royalties | Indices | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	50	32
Transferred at Point in Time
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	378	387
Transferred at Point in Time | Intersegment Elimination
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0
Transferred at Point in Time | Ratings | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	368	373
Transferred at Point in Time | Market Intelligence | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	8	11
Transferred at Point in Time | Platts | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	2	3
Transferred at Point in Time | Indices | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0
Transferred over Time
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	1,189	1,066
Transferred over Time | Intersegment Elimination
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	(28)	(25)
Transferred over Time | Ratings | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	380	341
Transferred over Time | Market Intelligence | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	429	391
Transferred over Time | Platts | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	194	188
Transferred over Time | Indices | Operating Segments
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	$ 214	$ 171

Nature of Operations and Basi36

Nature of Operations and Basis of Presentation - Components of Other (Income) Expense, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other components of net periodic benefit cost	$ (9)	$ (8)
Other (income) expense, net	(4)	(9)
CARE Ratings Limited
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Investments	49		$ 54
Accounting Standards Update 2017-07
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other components of net periodic benefit cost	(8)	(9)
Loss from investments	4	0
Other (income) expense, net	$ (4)	$ (9)

Acquisitions and Divestitures -

Acquisitions and Divestitures - Narrative (Details) - USD ($) $ in Millions	1 Months Ended
	Apr. 30, 2018	Jan. 31, 2018
Pragmatix
Schedule of Equity Method Investments And Cost-Method Investments [Line Items]
Equity method investment, ownership (as a percent)		100.00%
Subsequent Event | Kensho
Schedule of Equity Method Investments And Cost-Method Investments [Line Items]
Consideration transferred to acquire business	$ 550

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	21.60%	29.50%
Unrecognized tax benefits	$ 210		$ 212
Accrued interest and penalties associated with unrecognized tax benefits	56		$ 59
Reduction of unrecognized tax benefits is reasonably possible	$ 90

Debt - Narrative (Details)

Debt - Narrative (Details)	Jun. 30, 2017USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Long-term debt, fair value		$ 3,700,000,000	$ 3,800,000,000
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
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]
Maximum borrowing capacity		$ 1,200,000,000
Short-term debt		$ 0	$ 0

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017	Sep. 22, 2016	May 26, 2015
Debt Instrument [Line Items]
Total debt	$ 3,570	$ 3,569
Less: short-term debt including current maturities	400	399
Long-term debt	$ 3,170	3,170
Senior notes | 2.5% Senior Notes, due 2018
Debt Instrument [Line Items]
Stated interest rate (as a percent)	2.50%
Long-term debt	$ 400	399
Unamortized debt discount and issuance costs (less than $1 million)	$ 1
Senior notes | 3.3% Senior Notes, due 2020
Debt Instrument [Line Items]
Stated interest rate (as a percent)	3.30%
Long-term debt	$ 697	697
Unamortized debt discount and issuance costs (less than $1 million)	$ 3
Senior notes | 4.0% Senior Notes, due 2025
Debt Instrument [Line Items]
Stated interest rate (as a percent)	4.00%			4.00%
Long-term debt	$ 692	692
Unamortized debt discount and issuance costs (less than $1 million)	$ 8
Senior notes | 4.4% Senior Notes, due 2026
Debt Instrument [Line Items]
Stated interest rate (as a percent)	4.40%
Long-term debt	$ 892	892
Unamortized debt discount and issuance costs (less than $1 million)	$ 8
Senior notes | 2.95% Senior Notes, due 2027
Debt Instrument [Line Items]
Stated interest rate (as a percent)	2.95%		2.95%
Long-term debt	$ 493	493
Unamortized debt discount and issuance costs (less than $1 million)	$ 7
Senior notes | 6.55% Senior Notes, due 2037
Debt Instrument [Line Items]
Stated interest rate (as a percent)	6.55%
Long-term debt	$ 396	$ 396
Unamortized debt discount and issuance costs (less than $1 million)	$ 4

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - Foreign exchange forward contracts - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Fair Value Hedging | Not Designated as Hedging Instrument
Derivative [Line Items]
Aggregate notional value	$ 156
Net loss on derivative	1
Cash Flow Hedging | Designated as Hedging Instrument
Derivative [Line Items]
Aggregate notional value	$ 275	$ 255
Maturity of derivatives	12 months
Net gains related to derivatives recorded in other comprehensive income (loss) expected to be reclassified into earnings	$ 3

Derivative Instruments - Locati

Derivative Instruments - Location and Fair Values of Cash Flow Hedges (Details) - Cash Flow Hedging - Foreign exchange forward contracts - Designated as Hedging Instrument - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Prepaid and other current assets
Derivatives, Fair Value [Line Items]
Derivative, fair value	$ 3	$ 3
Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative, fair value	$ 1	$ 0

Derivative Instruments - Loca43

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
	Mar. 31, 2018	Mar. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss (effective portion)	$ 1	$ 5
Selling and general expenses
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (effective portion)	$ 1	$ 1

Derivative Instruments - Change

Derivative Instruments - Change in Unrealized (Losses) Gains in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Net unrealized gains on cash flow hedges, net of taxes, beginning of period	$ 711
Change in fair value, net of tax	1	$ 5
Net unrealized gains on cash flow hedges, net of taxes, end of period	7
Unrealized Gain (Loss) on Forward Exchange Contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Net unrealized gains on cash flow hedges, net of taxes, beginning of period	2	2
Change in fair value, net of tax	2	6
Reclassification into earnings, net of tax	(1)	(1)
Net unrealized gains on cash flow hedges, net of taxes, end of period	$ 3	$ 7

Employee Benefits - Components

Employee Benefits - Components of Net Periodic Benefit Cost (Credit) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Compensation and Retirement Disclosure [Abstract]
Service cost	$ 1	$ 1
Interest cost	18	18
Expected return on assets	(32)	(31)
Amortization of actuarial loss	4	4
Net periodic benefit cost	$ (9)	$ (8)

Employee Benefits - Narrative (

Employee Benefits - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Compensation and Retirement Disclosure [Abstract]
Contribution towards retirement plans	$ 2
Expected contributions towards retirement plans, remainder of the year	$ 7

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 13	$ 19
Stock option expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	1	1
Restricted stock and unit awards expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	12	$ 18
Unrecognized compensation expense	$ 53
Unrecognized compensation expense, period for recognition	1 year 6 months

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($)	Mar. 06, 2018	Mar. 31, 2018	Mar. 31, 2017	Dec. 04, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares purchased		5,000,000	1,500,000
Minimum interest in joint venture (as a percent)		20.00%
Agreement terms, change of control, put option for minority interest ownership, effective period		15 days
2013 Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized for repurchase (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 (shares)		14,000,000
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%
Accelerated Share Repurchases, March 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized stock repurchase program amount	$ 1,000,000,000
Payments for accelerated share repurchases	$ 1,000,000,000
Initial Award | Accelerated Share Repurchases, March 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares purchased	4,500,000
Accelerated share repurchases initial delivery percentage (as a percent)	85.00%

Equity - Schedule of share repu

Equity - Schedule of share repurchases (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares purchased	5	1.5
Average price paid per share (in dollars per share)	$ 178.11	$ 129.97
Total cash utilized	$ 1,100
Total SPGI Equity
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total cash utilized	$ 1,100	$ 201

Equity - Schedule of changes to

Equity - Schedule of changes to redeemable noncontrolling interest (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Increase (Decrease) in Temporary Equity [Roll Forward]
Balance at beginning of period	$ 1,350
Net income attributable to noncontrolling interest	40
Distributions payable to noncontrolling interest	(28)
Redemption value adjustment	(12)
Balance at end of period	$ 1,350

Equity - Accumulated Other Comp

Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Net unrealized gains on cash flow hedges, net of taxes, beginning of period	$ 711
Other comprehensive income before reclassifications	17
Reclassifications from accumulated other comprehensive loss to net earnings	2
Net other comprehensive income	19
Net unrealized gains on cash flow hedges, net of taxes, end of period	7
Pension and other postretirement benefit plans, tax	(1)	$ (1)
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Net unrealized gains on cash flow hedges, net of taxes, beginning of period	(649)
Net unrealized gains on cash flow hedges, net of taxes, end of period	(630)
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Net unrealized gains on cash flow hedges, net of taxes, beginning of period	(239)
Other comprehensive income before reclassifications	5
Reclassifications from accumulated other comprehensive loss to net earnings	0
Net other comprehensive income	5
Net unrealized gains on cash flow hedges, net of taxes, end of period	(234)
Pension and Postretirement Benefit Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Net unrealized gains on cash flow hedges, net of taxes, beginning of period	(402)
Other comprehensive income before reclassifications	0
Reclassifications from accumulated other comprehensive loss to net earnings	3
Net other comprehensive income	3
Net unrealized gains on cash flow hedges, net of taxes, end of period	(399)
Pension and other postretirement benefit plans, tax	1
Unrealized Gain (Loss) on Forward Exchange Contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Net unrealized gains on cash flow hedges, net of taxes, beginning of period	2	2
Other comprehensive income before reclassifications	2
Reclassifications from accumulated other comprehensive loss to net earnings	(1)
Net other comprehensive income	1
Net unrealized gains on cash flow hedges, net of taxes, end of period	3	$ 7
Unrealized Gain (Loss) on Investments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Net unrealized gains on cash flow hedges, net of taxes, beginning of period	(10)
Other comprehensive income before reclassifications	10
Reclassifications from accumulated other comprehensive loss to net earnings	0
Net other comprehensive income	10
Net unrealized gains on cash flow hedges, net of taxes, end of period	$ 0

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Amounts attributable to S&P Global Inc. common shareholders:
Net income	$ 491	$ 399
Basic weighted-average number of common shares outstanding	252,400,000	258,200,000
Effect of stock options and other dilutive securities (shares)	2,000,000	2,600,000
Diluted weighted-average number of common shares outstanding	254,400,000	260,800,000
Earnings per share attributable to S&P Global Inc. common shareholders:
Basic (USD per share)	$ 1.94	$ 1.54
Diluted (USD per share)	$ 1.93	$ 1.53
Employee stock option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding stock not included in the computation of diluted earnings per share (shares)	0	0
Restricted performance shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding stock not included in the computation of diluted earnings per share (shares)	600,000	700,000

Restructuring - Summary (Detail

Restructuring - Summary (Details) - 2017 Restructuring Plans $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)position
Restructuring Cost and Reserve [Line Items]
Workforce reduction | position		520
Initial Charge Recorded	$ 44
Ending Reserve Balance	33	$ 39
Restructuring charges paid	6
Operating Segments | Ratings
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	25
Ending Reserve Balance	21
Operating Segments | Market Intelligence
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	8
Ending Reserve Balance	4
Operating Segments | Platts
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	1
Ending Reserve Balance	0
Operating Segments | Indices
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	0
Ending Reserve Balance	0
Corporate
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	10
Ending Reserve Balance	$ 8

Segment and Related Informati54

Segment and Related Information - Operating Results by Segment (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)Segment	Mar. 31, 2017USD ($)
Segment Reporting [Abstract]
Number of reportable segments | Segment	4
Segment Reporting Information [Line Items]
Revenue	$ 1,567	$ 1,453
Operating Profit	711	639
Amortization of intangibles	24	24
Ratings
Segment Reporting Information [Line Items]
Legal settlement		2
Amortization of intangibles		1
Market Intelligence
Segment Reporting Information [Line Items]
Amortization of intangibles		17
Non-cash acquisition and disposition-related adjustments		4
Platts
Segment Reporting Information [Line Items]
Amortization of intangibles	5	5
Non-cash acquisition and disposition-related adjustments		11
Indices
Segment Reporting Information [Line Items]
Amortization of intangibles	2	1
Operating Segments
Segment Reporting Information [Line Items]
Revenue	1,567	1,453
Operating Profit	757	675
Operating Segments | Ratings
Segment Reporting Information [Line Items]
Revenue	748	714
Operating Profit	408	374
Operating Segments | Market Intelligence
Segment Reporting Information [Line Items]
Revenue	437	402
Operating Profit	112	104
Operating Segments | Platts
Segment Reporting Information [Line Items]
Revenue	196	191
Operating Profit	90	82
Operating Segments | Indices
Segment Reporting Information [Line Items]
Revenue	214	171
Operating Profit	147	115
Intersegment Elimination
Segment Reporting Information [Line Items]
Revenue	(28)	(25)
Operating Profit	0	0
Unallocated expense
Segment Reporting Information [Line Items]
Revenue	0	0
Operating Profit	$ (46)	$ (36)

Segment and Related Informati55

Segment and Related Information - Revenue by Geographic Region (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 1,567	$ 1,453
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	951	891
European region
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	381	346
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	156	132
Rest of the world
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 79	$ 84

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Jan. 31, 2016employee	Aug. 31, 2015shareholder
Loss Contingencies [Line Items]
Contribution to noncontrolling interest	$ 50	$ 24
Shareholder Derivative Action
Loss Contingencies [Line Items]
Number of shareholders commencing punitive derivative action | shareholder				2
Affiliated Entity
Loss Contingencies [Line Items]
Contribution to noncontrolling interest	20
CME Group | S&P DJ Indices
Loss Contingencies [Line Items]
Revenues earned under license agreement	$ 31
Noncontrolling interest ownership by noncontrolling owners (as a percent)	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 Ac57

Recently Issued or Adopted Accounting Standards - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings (accumulated deficit)	$ 10,427		$ 10,025
Accumulated other comprehensive income (loss)	$ (630)		$ (649)
Accounting Standards Update 2018-03
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings (accumulated deficit)		$ (10)
Accumulated other comprehensive income (loss)		$ 10

Condensed Consolidating Finan58

Condensed Consolidating Financial Statements - Narrative (Details) - USD ($)	Mar. 31, 2018	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 (as a percent)	2.95%	2.95%
Senior notes | 4.0% Senior Notes due in 2025
Condensed Financial Statements, Captions [Line Items]
Debt issued				$ 700,000,000
Stated interest rate (as a percent)	4.00%			4.00%
Senior notes | 2.5% Senior Notes due in 2018
Condensed Financial Statements, Captions [Line Items]
Debt issued			$ 400,000,000
Stated interest rate (as a percent)			2.50%
Senior notes | 3.3% Senior Notes due in 2020
Condensed Financial Statements, Captions [Line Items]
Debt issued			$ 700,000,000
Stated interest rate (as a percent)			3.30%
Senior notes | 4.4% Senior Notes due in 2026
Condensed Financial Statements, Captions [Line Items]
Debt issued			$ 900,000,000
Stated interest rate (as a percent)			4.40%

Condensed Consolidating Finan59

Condensed Consolidating Financial Statements - Statement of Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Condensed Income Statements, Captions [Line Items]
Revenue	$ 1,567	$ 1,453
Expenses:
Operating-related expenses	439	411
Selling and general expenses	372	360
Depreciation	21	19
Amortization of intangibles	24	24
Total expenses	856	814
Operating profit	711	639
Other (income) expense, net	(4)	(9)
Interest expense (income), net	34	37
Non-operating intercompany transactions	0	0
Income before taxes on income	681	611
(Benefit) provision for taxes on income	147	181
Equity in net income of subsidiaries	0	0
Net income	534	430
Less: net income attributable to noncontrolling interests	(43)	(31)
Net income attributable to S&P Global Inc.	491	399
Comprehensive income	543	468
Eliminations
Condensed Income Statements, Captions [Line Items]
Revenue	(35)	(32)
Expenses:
Operating-related expenses	(35)	(32)
Selling and general expenses	0	0
Depreciation	0	0
Amortization of intangibles	0	0
Total expenses	(35)	(32)
Operating profit	0	0
Other (income) expense, net	0	0
Interest expense (income), net	0	0
Non-operating intercompany transactions	1,016	838
Income before taxes on income	(1,016)	(838)
(Benefit) provision for taxes on income	0	0
Equity in net income of subsidiaries	(1,512)	(1,224)
Net income	(2,528)	(2,062)
Less: net income attributable to noncontrolling interests	(43)	(31)
Net income attributable to S&P Global Inc.	(2,571)	(2,093)
Comprehensive income	(2,533)	(2,064)
S&P Global Inc. | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenue	191	180
Expenses:
Operating-related expenses	34	31
Selling and general expenses	37	26
Depreciation	8	7
Amortization of intangibles	0	0
Total expenses	79	64
Operating profit	112	116
Other (income) expense, net	(7)	(6)
Interest expense (income), net	38	39
Non-operating intercompany transactions	100	82
Income before taxes on income	(19)	1
(Benefit) provision for taxes on income	(14)	(11)
Equity in net income of subsidiaries	1,512	1,224
Net income	1,507	1,236
Less: net income attributable to noncontrolling interests	0	0
Net income attributable to S&P Global Inc.	1,507	1,236
Comprehensive income	1,487	1,238
Standard & Poor's Financial Services LLC | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenue	434	438
Expenses:
Operating-related expenses	117	119
Selling and general expenses	87	88
Depreciation	2	3
Amortization of intangibles	0	0
Total expenses	206	210
Operating profit	228	228
Other (income) expense, net	0	0
Interest expense (income), net	0	0
Non-operating intercompany transactions	(20)	(19)
Income before taxes on income	248	247
(Benefit) provision for taxes on income	71	99
Equity in net income of subsidiaries	0	0
Net income	177	148
Less: net income attributable to noncontrolling interests	0	0
Net income attributable to S&P Global Inc.	177	148
Comprehensive income	177	147
Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenue	977	867
Expenses:
Operating-related expenses	323	293
Selling and general expenses	248	246
Depreciation	11	9
Amortization of intangibles	24	24
Total expenses	606	572
Operating profit	371	295
Other (income) expense, net	3	(3)
Interest expense (income), net	(4)	(2)
Non-operating intercompany transactions	(1,096)	(901)
Income before taxes on income	1,468	1,201
(Benefit) provision for taxes on income	90	93
Equity in net income of subsidiaries	0	0
Net income	1,378	1,108
Less: net income attributable to noncontrolling interests	0	0
Net income attributable to S&P Global Inc.	1,378	1,108
Comprehensive income	$ 1,412	$ 1,147

Condensed Consolidating Finan60

Condensed Consolidating Financial Statements - Balance Sheet (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 1,756	$ 2,779	$ 2,411	$ 2,392
Accounts receivable, net of allowance for doubtful accounts	1,313	1,319
Intercompany receivable	0	0
Prepaid and other current assets	215	226
Total current assets	3,284	4,324
Property and equipment, net of accumulated depreciation	270	275
Goodwill	3,045	2,989
Other intangible assets, net	1,390	1,388
Investments in subsidiaries	0	0
Intercompany loans receivable	0	0
Other non-current assets	508	449
Total assets	8,497	9,425
Current liabilities:
Accounts payable	196	195
Intercompany payable	0	0
Accrued compensation and contributions to retirement plans	195	472
Short-term debt	400	399
Income taxes currently payable	100	77
Unearned revenue	1,679	1,613
Accrued legal settlements	82	107
Other current liabilities	483	351
Total current liabilities	3,135	3,214
Long-term debt	3,170	3,170
Intercompany loans payable	0	0
Pension and other postretirement benefits	235	244
Other non-current liabilities	539	679
Total liabilities	7,079	7,307
Redeemable noncontrolling interest	1,350	1,350
Equity:
Common stock	412	412
Additional paid-in capital	335	525
Retained income	10,427	10,025
Accumulated other comprehensive loss	(630)	(649)
Less: common stock in treasury	(10,537)	(9,602)
Total equity — controlling interests	7	711
Total equity - noncontrolling interests	61	57
Total equity	68	768
Total liabilities and equity	8,497	9,425
Eliminations
Current assets:
Cash and cash equivalents	0	0	0	0
Accounts receivable, net of allowance for doubtful accounts	0	0
Intercompany receivable	(4,949)	(5,079)
Prepaid and other current assets	0	0
Total current assets	(4,949)	(5,079)
Property and equipment, net of accumulated depreciation		0
Goodwill	9	9
Other intangible assets, net	0	0
Investments in subsidiaries	(15,159)	(16,397)
Intercompany loans receivable	(2,003)	(1,815)
Other non-current assets	0	(1)
Total assets	(22,102)	(23,283)
Current liabilities:
Accounts payable	0	0
Intercompany payable	(4,949)	(5,079)
Accrued compensation and contributions to retirement plans	0	0
Short-term debt	0	0
Income taxes currently payable	0	0
Unearned revenue	0	0
Accrued legal settlements	0	0
Other current liabilities	0	0
Total current liabilities	(4,949)	(5,079)
Long-term debt	0	0
Intercompany loans payable	(2,003)	(1,816)
Pension and other postretirement benefits	0	0
Other non-current liabilities	0	0
Total liabilities	(6,952)	(6,895)
Redeemable noncontrolling interest	1,350	1,350
Equity:
Common stock	(2,318)	(2,318)
Additional paid-in capital	(9,189)	(9,117)
Retained income	(5,117)	(6,429)
Accumulated other comprehensive loss	41	46
Less: common stock in treasury	23	23
Total equity — controlling interests	(16,560)	(17,795)
Total equity - noncontrolling interests	60	57
Total equity	(16,500)	(17,738)
Total liabilities and equity	(22,102)	(23,283)
S&P Global Inc. | Reportable Legal Entities
Current assets:
Cash and cash equivalents	581	632	627	711
Accounts receivable, net of allowance for doubtful accounts	133	138
Intercompany receivable	608	768
Prepaid and other current assets	92	143
Total current assets	1,414	1,681
Property and equipment, net of accumulated depreciation	170	158
Goodwill	261	261
Other intangible assets, net	0	0
Investments in subsidiaries	7,069	8,364
Intercompany loans receivable	118	116
Other non-current assets	232	215
Total assets	9,264	10,795
Current liabilities:
Accounts payable	79	79
Intercompany payable	3,577	3,433
Accrued compensation and contributions to retirement plans	84	145
Short-term debt	400	399
Income taxes currently payable	13	2
Unearned revenue	288	293
Accrued legal settlements	0	0
Other current liabilities	265	136
Total current liabilities	4,706	4,487
Long-term debt	3,170	3,170
Intercompany loans payable	102	101
Pension and other postretirement benefits	178	180
Other non-current liabilities	157	376
Total liabilities	8,313	8,314
Redeemable noncontrolling interest	0	0
Equity:
Common stock	412	412
Additional paid-in capital	(415)	(216)
Retained income	11,780	12,156
Accumulated other comprehensive loss	(289)	(269)
Less: common stock in treasury	(10,537)	(9,602)
Total equity — controlling interests	951	2,481
Total equity - noncontrolling interests	0	0
Total equity	951	2,481
Total liabilities and equity	9,264	10,795
Standard & Poor's Financial Services LLC | Reportable Legal Entities
Current assets:
Cash and cash equivalents	0	0	0	0
Accounts receivable, net of allowance for doubtful accounts	178	152
Intercompany receivable	1,454	1,784
Prepaid and other current assets	(4)	(3)
Total current assets	1,628	1,933
Property and equipment, net of accumulated depreciation	1	10
Goodwill	0	0
Other intangible assets, net	0	0
Investments in subsidiaries	5	5
Intercompany loans receivable	0	0
Other non-current assets	63	61
Total assets	1,697	2,009
Current liabilities:
Accounts payable	19	23
Intercompany payable	29	492
Accrued compensation and contributions to retirement plans	14	86
Short-term debt	0	0
Income taxes currently payable	0	0
Unearned revenue	247	193
Accrued legal settlements	0	2
Other current liabilities	21	21
Total current liabilities	330	817
Long-term debt	0	0
Intercompany loans payable	0	0
Pension and other postretirement benefits	0	0
Other non-current liabilities	55	74
Total liabilities	385	891
Redeemable noncontrolling interest	0	0
Equity:
Common stock	0	0
Additional paid-in capital	604	602
Retained income	708	516
Accumulated other comprehensive loss	0	0
Less: common stock in treasury	0	0
Total equity — controlling interests	1,312	1,118
Total equity - noncontrolling interests	0	0
Total equity	1,312	1,118
Total liabilities and equity	1,697	2,009
Non-Guarantor Subsidiaries | Reportable Legal Entities
Current assets:
Cash and cash equivalents	1,175	2,147	$ 1,784	$ 1,681
Accounts receivable, net of allowance for doubtful accounts	1,002	1,029
Intercompany receivable	2,887	2,527
Prepaid and other current assets	127	86
Total current assets	5,191	5,789
Property and equipment, net of accumulated depreciation	99	107
Goodwill	2,775	2,719
Other intangible assets, net	1,390	1,388
Investments in subsidiaries	8,085	8,028
Intercompany loans receivable	1,885	1,699
Other non-current assets	213	174
Total assets	19,638	19,904
Current liabilities:
Accounts payable	98	93
Intercompany payable	1,343	1,154
Accrued compensation and contributions to retirement plans	97	241
Short-term debt	0	0
Income taxes currently payable	87	75
Unearned revenue	1,144	1,127
Accrued legal settlements	82	105
Other current liabilities	197	194
Total current liabilities	3,048	2,989
Long-term debt	0	0
Intercompany loans payable	1,901	1,715
Pension and other postretirement benefits	57	64
Other non-current liabilities	327	229
Total liabilities	5,333	4,997
Redeemable noncontrolling interest	0	0
Equity:
Common stock	2,318	2,318
Additional paid-in capital	9,335	9,256
Retained income	3,056	3,782
Accumulated other comprehensive loss	(382)	(426)
Less: common stock in treasury	(23)	(23)
Total equity — controlling interests	14,304	14,907
Total equity - noncontrolling interests	1	0
Total equity	14,305	14,907
Total liabilities and equity	$ 19,638	$ 19,904

Condensed Consolidating Finan61

Condensed Consolidating Financial Statements - Statement of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Operating Activities:
Net income	$ 534	$ 430
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	21	19
Amortization of intangibles	24	24
Provision for losses on accounts receivable	8	5
Stock-based compensation	13	19
Other	16	13
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable	7	12
Prepaid and other current assets	(21)	9
Accounts payable and accrued expenses	(289)	(235)
Unearned revenue	27	(6)
Accrued legal settlements	(29)	(1)
Other current liabilities	19	(58)
Net change in prepaid/accrued income taxes	74	146
Net change in other assets and liabilities	(44)	(24)
Cash provided by operating activities	360	353
Investing Activities:
Capital expenditures	(33)	(23)
Acquisitions, net of cash acquired	(57)	(1)
Changes in short-term investments	3	0
Proceeds from dispositions	0	2
Cash used for investing activities	(87)	(22)
Financing Activities:
Dividends paid to shareholders	(127)	(106)
Distributions to noncontrolling interest holders	(50)	(24)
Repurchase of treasury shares	(1,100)	(201)
Exercise of stock options	10	29
Employee withholding tax on share-based payments	(49)	(44)
Intercompany financing activities	0	0
Cash used for financing activities	(1,316)	(346)
Effect of exchange rate changes on cash from continuing operations	20	34
Net change in cash and cash equivalents	(1,023)	19
Cash and cash equivalents at beginning of period	2,779	2,392
Cash and cash equivalents at end of period	1,756	2,411
Eliminations
Operating Activities:
Net income	(2,528)	(2,062)
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	(2,528)	(2,062)
Investing Activities:
Capital expenditures	0	0
Acquisitions, net of cash acquired	0	0
Changes in short-term investments	0
Proceeds from dispositions		0
Cash used for investing activities	0	0
Financing Activities:
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	2,528	2,062
Cash used for financing activities	2,528	2,062
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
S&P Global Inc.
Investing Activities:
Changes in short-term investments	0
S&P Global Inc. | Reportable Legal Entities
Operating Activities:
Net income	1,507	1,236
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	8	7
Amortization of intangibles	0	0
Provision for losses on accounts receivable	0	1
Stock-based compensation	5	7
Other	(71)	5
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable	5	8
Prepaid and other current assets	(18)	8
Accounts payable and accrued expenses	(60)	(61)
Unearned revenue	(4)	5
Accrued legal settlements	(29)	0
Other current liabilities	22	(35)
Net change in prepaid/accrued income taxes	73	123
Net change in other assets and liabilities	(37)	(6)
Cash provided by operating activities	1,401	1,298
Investing Activities:
Capital expenditures	(23)	(4)
Acquisitions, net of cash acquired	0	0
Proceeds from dispositions		0
Cash used for investing activities	(23)	(4)
Financing Activities:
Dividends paid to shareholders	(127)	(106)
Distributions to noncontrolling interest holders	0	0
Repurchase of treasury shares	(1,100)	(201)
Exercise of stock options	10	29
Employee withholding tax on share-based payments	(49)	(44)
Intercompany financing activities	(158)	(1,056)
Cash used for financing activities	(1,424)	(1,378)
Effect of exchange rate changes on cash from continuing operations	(5)	0
Net change in cash and cash equivalents	(51)	(84)
Cash and cash equivalents at beginning of period	632	711
Cash and cash equivalents at end of period	581	627
Standard & Poor's Financial Services LLC
Investing Activities:
Changes in short-term investments	0
Standard & Poor's Financial Services LLC | Reportable Legal Entities
Operating Activities:
Net income	177	148
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	2	3
Amortization of intangibles	0	0
Provision for losses on accounts receivable	2	1
Stock-based compensation	3	4
Other	0	0
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable	(27)	(59)
Prepaid and other current assets	1	3
Accounts payable and accrued expenses	(79)	12
Unearned revenue	28	25
Accrued legal settlements	0	(1)
Other current liabilities	(2)	(3)
Net change in prepaid/accrued income taxes	1	0
Net change in other assets and liabilities	0	(4)
Cash provided by operating activities	106	129
Investing Activities:
Capital expenditures	(6)	(4)
Acquisitions, net of cash acquired	0	0
Proceeds from dispositions		0
Cash used for investing activities	(6)	(4)
Financing Activities:
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	(100)	(125)
Cash used for financing activities	(100)	(125)
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
Non-Guarantor Subsidiaries
Investing Activities:
Changes in short-term investments	3
Non-Guarantor Subsidiaries | Reportable Legal Entities
Operating Activities:
Net income	1,378	1,108
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	11	9
Amortization of intangibles	24	24
Provision for losses on accounts receivable	6	3
Stock-based compensation	5	8
Other	87	8
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable	29	63
Prepaid and other current assets	(4)	(2)
Accounts payable and accrued expenses	(150)	(186)
Unearned revenue	3	(36)
Accrued legal settlements	0	0
Other current liabilities	(1)	(20)
Net change in prepaid/accrued income taxes	0	23
Net change in other assets and liabilities	(7)	(14)
Cash provided by operating activities	1,381	988
Investing Activities:
Capital expenditures	(4)	(15)
Acquisitions, net of cash acquired	(57)	(1)
Proceeds from dispositions		2
Cash used for investing activities	(58)	(14)
Financing Activities:
Dividends paid to shareholders	0	0
Distributions to noncontrolling interest holders	(50)	(24)
Repurchase of treasury shares	0	0
Exercise of stock options		0
Employee withholding tax on share-based payments	0	0
Intercompany financing activities	(2,270)	(881)
Cash used for financing activities	(2,320)	(905)
Effect of exchange rate changes on cash from continuing operations	25	34
Net change in cash and cash equivalents	(972)	103
Cash and cash equivalents at beginning of period	2,147	1,681
Cash and cash equivalents at end of period	$ 1,175	$ 1,784