S&P Global (SPGI) 10-Q 1 Aug 19 2019 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares shares in Millions	6 Months Ended
	Jun. 30, 2019	Jul. 26, 2019
Cover page.
Entity Central Index Key	0000064040
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Entity File Number	1-1023
Entity Registrant Name	S&P Global Inc.
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	13-1026995
Entity Address, Address Line One	55 Water Street
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10041
City Area Code	212
Local Phone Number	438-1000
Title of 12(b) Security	Common stock (par value $1.00 per share)
Trading Symbol	SPGI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		246.3

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Revenue	$ 1,704	$ 1,609	$ 3,275	$ 3,176
Expenses:
Operating-related expenses	452	441	898	877
Selling and general expenses	387	444	755	819
Depreciation	21	19	41	40
Amortization of intangibles	31	33	63	57
Total expenses	891	937	1,757	1,793
Operating profit	813	672	1,518	1,383
Other (income) expense, net	(6)	(11)	97	(16)
Interest expense, net	37	26	73	61
Income before taxes on income	782	657	1,348	1,338
Provision for taxes on income	180	156	293	303
Net income	602	501	1,055	1,035
Less: net income attributable to noncontrolling interests	(47)	(40)	(90)	(84)
Net income attributable to S&P Global Inc.	$ 555	$ 461	$ 965	$ 951
Net income:
Basic (USD per share)	$ 2.25	$ 1.83	$ 3.92	$ 3.78
Diluted (USD per share)	$ 2.24	$ 1.82	$ 3.89	$ 3.75
Weighted-average number of common shares outstanding:
Basic (shares)	246.1	251.1	246.4	251.7
Diluted (shares)	247.4	253.3	247.9	253.8
Actual shares outstanding at period end (shares)			246.3	251.4

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 602	$ 501	$ 1,055	$ 1,035
Other comprehensive income:
Foreign currency translation adjustment	(17)	(75)	1	(52)
Income tax effect	2	15	4	(3)
Foreign currency translation adjustment, net of income tax effect	(15)	(60)	5	(55)
Pension and other postretirement benefit plans	0	(15)	114	(11)
Income tax effect	0	4	(28)	3
Pension and other postretirement benefit plans, net of income tax effect	0	(11)	86	(8)
Unrealized gain on investment and forward exchange contracts	(4)		0
Income tax effect	1		0
Unrealized gain on investment and forward exchange contracts, net of income tax effect	(3)		0
Unrealized gain on investment and forward exchange contracts		(5)		(4)
Income tax effect		1		1
Unrealized gain on investment and forward exchange contracts, net of income tax effect		(4)		(3)
Comprehensive income	584	426	1,146	969
Less: comprehensive income attributable to nonredeemable noncontrolling interests	(3)	(5)	(6)	(8)
Less: comprehensive income attributable to redeemable noncontrolling interests	(44)	(36)	(84)	(76)
Comprehensive income attributable to S&P Global Inc.	$ 537	$ 385	$ 1,056	$ 885

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 1,881	$ 1,917
Restricted cash	39	41
Accounts receivable, net of allowance for doubtful accounts: 2019 - $38; 2018 - $34	1,543	1,449
Prepaid and other current assets	231	197
Total current assets	3,694	3,604
Property and equipment, net of accumulated depreciation: 2019 - $623; 2018 - $596	280	270
Right of use assets	669	0
Goodwill	3,519	3,535
Other intangible assets, net	1,453	1,524
Other non-current assets	570	525
Total assets	10,185	9,458
Current liabilities:
Accounts payable	214	211
Accrued compensation and contributions to retirement plans	269	354
Income taxes currently payable	88	72
Unearned revenue	1,709	1,641
Other current liabilities	419	351
Total current liabilities	2,699	2,629
Long-term debt	3,664	3,662
Lease liabilities — non-current	621	0
Pension and other postretirement benefits	230	229
Other non-current liabilities	511	634
Total liabilities	7,725	7,154
Redeemable noncontrolling interest (Note 8)	1,890	1,620
Commitments and contingencies (Note 12)
Equity:
Common stock	294	294
Additional paid-in capital	790	833
Retained income	11,710	11,284
Accumulated other comprehensive loss	(651)	(742)
Less: common stock in treasury	(11,631)	(11,041)
Total equity — controlling interests	512	628
Total equity — noncontrolling interests	58	56
Total equity	570	684
Total liabilities and equity	$ 10,185	$ 9,458

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 38	$ 34
Accumulated depreciation	$ 623	$ 596

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Operating Activities:
Net income	$ 1,055	$ 1,035
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	41	40
Amortization of intangibles	63	57
Provision for losses on accounts receivable	12	10
Deferred income taxes	12	22
Stock-based compensation	33	46
Pension settlement charge, net of taxes	85	0
Other	38	80
Changes in operating assets and liabilities, net of effect of acquisitions:
Accounts receivable	(95)	19
Prepaid and other current assets	(42)	(19)
Accounts payable and accrued expenses	(74)	(217)
Unearned revenue	0	41
Accrued legal settlements	(1)	(29)
Other current liabilities	(83)	(69)
Net change in prepaid/accrued income taxes	33	24
Net change in other assets and liabilities	(67)	(137)
Cash provided by operating activities	1,010	903
Investing Activities:
Capital expenditures	(46)	(60)
Acquisitions, net of cash acquired	(4)	(246)
Changes in short-term investments	(3)	1
Cash used for investing activities	(53)	(305)
Financing Activities:
Proceeds from issuance of senior notes, net	0	489
Payments on senior notes	0	(403)
Dividends paid to shareholders	(281)	(253)
Distributions to noncontrolling interest holders, net	(59)	(78)
Purchase of CRISIL shares	0	(25)
Repurchase of treasury shares	(644)	(1,100)
Exercise of stock options	31	16
Employee withholding tax on share-based payments and other	(55)	(50)
Cash used for financing activities	(1,008)	(1,404)
Effect of exchange rate changes on cash	13	(38)
Net change in cash, cash equivalents, and restricted cash	(38)	(844)
Cash, cash equivalents, and restricted cash at beginning of period	1,958	2,779
Cash, cash equivalents, and restricted cash at end of period	$ 1,920	$ 1,935

Consolidated Statement of Equit

Consolidated Statement of Equity - 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]	893	885			951	(66)		8
Dividends		(260)	(253)			(253)			(7)
Share repurchases		(1,100)	(1,100)		(150)			950
Employee stock plans		46	46		30			(16)
Change in redemption value of redeemable noncontrolling interest		(72)	(72)			(72)
Increase in CRISIL ownership		(26)	(25)		(25)				(1)
Stock consideration for Kensho		352	352		352
Other	[2]	32	36			26	10		(4)
Balance at end of period at Jun. 30, 2018		633	580	412	732	10,677	(705)	(10,536)	53
Balance at beginning of period at Mar. 31, 2018		65	4	412	335	10,424	(630)	(10,537)	61
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	[1]	391	386			461	(75)		5
Dividends		(133)	(126)			(126)			(7)
Share repurchases			0
Employee stock plans		70	71		70			(1)	(1)
Change in redemption value of redeemable noncontrolling interest		(82)	(82)			(82)
Increase in CRISIL ownership		(26)	(25)		(25)				(1)
Stock consideration for Kensho		352	352		352
Other		(4)							(4)
Balance at end of period at Jun. 30, 2018		633	580	412	732	10,677	(705)	(10,536)	53
Balance at beginning of period at Dec. 31, 2018		684	628	294	833	11,284	(742)	(11,041)	56
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	[1]	1,062	1,056			965	91		6
Dividends		(287)	(281)			(281)			(6)
Share repurchases		(644)	(644)					644
Employee stock plans		11	11		(43)			(54)
Capital contribution from noncontrolling interest		(222)	(222)			(222)
Change in redemption value of redeemable noncontrolling interest		(36)	(36)			(36)
Other		2							2
Balance at end of period at Jun. 30, 2019		570	512	294	790	11,710	(651)	(11,631)	58
Balance at beginning of period at Mar. 31, 2019		388	327	294	772	11,532	(633)	(11,638)	61
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	[1]	540	537			555	(18)		3
Dividends		(146)	(140)			(140)			(6)
Share repurchases			0
Employee stock plans		25	25		18			(7)
Capital contribution from noncontrolling interest		(237)	(237)			(237)
Balance at end of period at Jun. 30, 2019		$ 570	$ 512	$ 294	$ 790	$ 11,710	$ (651)	$ (11,631)	$ 58
[1]	Excludes comprehensive income of $44 million and $36 million for the three months ended June 30, 2019 and 2018 , respectively, and $84 million and $76 million for the six months ended June 30, 2019 and 2018 , respectively, attributable to our redeemable noncontrolling interest.
[2]	Reflects opening balance sheet adjustments related to the adoption of the new revenue recognition standard and the reclassification of the unrealized loss on investments from Accumulated other comprehensive loss to Retained income.

Consolidated Statement of Equ_2

Consolidated Statement of Equity (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Stockholders' Equity [Abstract]
Net income attributable to noncontrolling interest	$ 44	$ 36	$ 84	$ 76
Dividends declared per share (USD per share)	$ 0.57	$ 0.5	$ 1.14	$ 1

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	6 Months Ended
	Jun. 30, 2019
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. Beginning in the first quarter of 2019, the contract obligations for revenue from Kensho Technologies Inc.’s (“Kensho”) major customers were transferred to Market Intelligence for fulfillment. As a result of this transfer, from January 1, 2019 revenue from contracts with Kensho’s customers is reflected in Market Intelligence’s results. In 2018, the revenue from contracts with Kensho’s customers was reported in Corporate revenue. See Note 2 — Acquisitions and Divestitures for additional information. 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 notes 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, 2018 (our “Form 10-K”). Certain prior-year amounts have been reclassified to conform with current presentation. In the opinion of management, all normal recurring adjustments considered necessary for a fair statement of the results of the interim periods have been included. The operating results for the three and six months ended June 30, 2019 are not necessarily indicative of the results that may be expected for the full year. Our critical accounting estimates are disclosed in Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations , in our Form 10-K. On an ongoing basis, we evaluate our estimates and assumptions, including those related to revenue recognition, allowance for doubtful accounts, valuation of long-lived assets, goodwill and other intangible assets, pension plans, incentive compensation and stock-based compensation, income taxes, contingencies and redeemable noncontrolling interests. Since the date of our Form 10-K, there have been no material changes to our critical accounting policies and estimates. Restricted Cash Restricted cash of $39 million and $41 million included in our consolidated balance sheets as of June 30, 2019 and December 31, 2018, respectively, primarily includes amounts held in escrow accounts in connection with our acquisition of Kensho. Contract Assets Contract assets include unbilled amounts from when the Company transfers service to a customer before a customer pays consideration or before payment is due. As of June 30, 2019 and December 31, 2018 , contract assets were $47 million and $26 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 unearned revenue balance at June 30, 2019 compared to December 31, 2018 is primarily driven by cash payments received or due in advance of satisfying our performance obligations, offset by $1.2 billion 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 work that has not yet been performed. As of June 30, 2019 , the aggregate amount of the transaction price allocated to remaining performance obligations was $1.5 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 unfulfilled 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 the costs associated with certain sales commission programs are incremental to the costs to obtain contracts with customers and therefore meet the criteria to be capitalized. Total capitalized costs to obtain a contract were $96 million and $101 million as of June 30, 2019 and December 31, 2018 , respectively, and are included in prepaid and other current assets and other non-current assets on our consolidated balance sheets. The capitalized 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 which has been determined to be approximately 5 years . The expense is recorded within selling and general expenses. We expense sales commissions when incurred if the amortization period is one year or less. These costs are recorded within selling and general expenses. Other (Income) Expense, net The components of other (income) expense, net for the three and six months ended June 30 are as follows: (in millions) Three Months Six Months 2019 2018 2019 2018 Other components of net periodic benefit cost 1 $ (7 ) $ (8 ) $ 96 $ (16 ) Net loss (gain) from investments 1 (3 ) 1 — Other (income) expense, net $ (6 ) $ (11 ) $ 97 $ (16 ) 1 During the first quarter of 2019, the Company purchased a group annuity contract under which an insurance company assumed a portion of the Company's obligation to pay pension benefits to the plan's beneficiaries. The purchase of this group annuity contract was funded by pension plan assets. The non-cash pre-tax settlement charge of $113 million for the six months ended June 30, 2019 reflects the accelerated recognition of a portion of unamortized actuarial losses in the plan.

Acquisitions and Divestitures

Acquisitions and Divestitures	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures Acquisitions 2019 In July of 2019, S&P Global completed the acquisition of the Orion technology center from Ness Technologies. Orion was developed to become S&P Global's center of excellence for technology talent to focus on innovations by providing employees with access to the latest technologies and global communications infrastructure, as well as physical spaces that enable highly-collaborative teams. The acquisition of Orion is not material to our consolidated financial statements. 2018 In June of 2018, Market Intelligence acquired the RateWatch business ("RateWatch") from TheStreet, Inc., a B2B data business that offers subscription and custom reports on bank deposits, loans, fees and other product data to the financial services industry. The acquisition will complement and strengthen Market Intelligence's core capabilities of providing differentiated data and analytics solutions for the banking sector. The acquisition of RateWatch is not material to our consolidated financial statements. In April of 2018, we acquired 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 will 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. Divestitures 2019 In July of 2019, we entered into an agreement to sell RigData, a business within our Platts segment. RigData is a provider of daily information on rig activity for the natural gas and oil markets across North America. On July 31, 2019, we completed the sale of RigData to Drilling Info, Inc. In March of 2019, we entered into an agreement to sell Standard & Poor's Investment Advisory Services LLC ("SPIAS"), a business within our Market Intelligence segment, to Goldman Sachs Asset Management ("GSAM"). SPIAS provides non-discretionary investment advice across institutional sub-advisory and intermediary distribution channels globally. On July 1, 2019, we completed the sale of SPIAS to GSAM. The operating profit of our businesses held for sale for the periods ending June 30, 2019 and 2018 is as follows: (in millions) Three Months Six Months 2019 2018 2019 2018 Operating profit $ 3 $ 3 $ 6 $ 6 2018 During the six months ended June 30, 2018, we did not complete any dispositions.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective income tax rate was 23.0% and 21.7% for the three and six months ended June 30, 2019 , respectively, and 23.8% and 22.7% for the three and six months ended June 30, 2018 , respectively. The decrease in 2019 was primarily due to the recognition of excess tax benefits associated with share-based payments in the statement of income. 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 June 30, 2019 and December 31, 2018 , the total amount of federal, state and local, and foreign unrecognized tax benefits was $114 million and $147 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 June 30, 2019 and December 31, 2018 , we had $20 million and $35 million , respectively, of accrued interest and penalties associated with unrecognized tax benefits. The reduction in uncertain tax positions and associated accrued interest relates primarily to settlements of tax audits with New York City. Based on the current status of income tax audits, we believe that the total amount of unrecognized tax benefits may decrease by approximately $5 million in the next twelve months as a result of the resolution of tax examinations.

Debt

Debt	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Debt	Debt A summary of long-term debt outstanding is as follows: (in millions) June 30, December 31, 3.3% Senior Notes, due 2020 1 699 698 4.0% Senior Notes, due 2025 2 693 693 4.4% Senior Notes, due 2026 3 893 892 2.95% Senior Notes, due 2027 4 493 493 6.55% Senior Notes, due 2037 5 396 396 4.5% Senior Notes, due 2048 6 490 490 Long-term debt $ 3,664 $ 3,662 1 Interest payments are due semiannually on February 14 and August 14, and as of June 30, 2019 , the unamortized debt discount and issuance costs total $1 million . 2 Interest payments are due semiannually on June 15 and December 15, and as of June 30, 2019 , the unamortized debt discount and issuance costs total $7 million . 3 Interest payments are due semiannually on February 15 and August 15, and as of June 30, 2019 , the unamortized debt discount and issuance costs total $7 million . 4 Interest payments are due semiannually on January 22 and July 22, and as of June 30, 2019 , the unamortized debt discount and issuance costs total $7 million . 5 Interest payments are due semiannually on May 15 and November 15, and as of June 30, 2019 , the unamortized debt discount and issuance costs total $4 million . 6 Interest payments are due semiannually on May 15 and November 15, beginning on November 15, 2018, and as of June 30, 2019 , the unamortized debt discount and issuance costs total $10 million . The fair value of our long-term debt borrowings was $4.1 billion and $3.8 billion as of June 30, 2019 and December 31, 2018 , 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 June 30, 2019 and December 31, 2018 , 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 10 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	6 Months Ended
	Jun. 30, 2019
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 June 30, 2019 and December 31, 2018 , we have entered into foreign exchange forward contracts to mitigate or hedge the effect of adverse fluctuations in foreign exchange rates. Foreign exchange forward contracts are recorded at fair value that is based on foreign 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 six months ended June 30, 2019 and twelve months ended December 31, 2018 , 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 sheets. These forward contracts do not qualify for hedge accounting. As of June 30, 2019 , the aggregate notional value of these outstanding forward contracts was $68 million . The changes in fair value of these forward contracts are recorded in prepaid and other current assets and 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 amount recorded in prepaid and other current assets as of June 30, 2019 was $2 million . The amount recorded in selling and general expense for the three and six months ended June 30, 2019 related to these contracts was a net gain of $3 million and $5 million , respectively. Cash Flow Hedges During the six months ended June 30, 2019 and twelve months ended December 31, 2018 , 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 second quarter of 2020 and the fourth quarter of 2019, 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 June 30, 2019 , we estimate that $4 million of the net gains related to derivatives designated as cash flow hedges recorded in other comprehensive income is expected to be reclassified into earnings within the next twelve months. There was no material hedge ineffectiveness for the three and six months ended June 30, 2019 . As of June 30, 2019 , the aggregate notional value of our outstanding foreign currency forward contracts designated as cash flow hedges was $229 million . The following table provides information on the location and fair value amounts of our cash flow hedges as of June 30, 2019 and December 31, 2018 : (in millions) June 30, December 31, Balance Sheet Location 2019 2018 Derivatives designated as cash flow hedges: Prepaid and other current assets Foreign exchange forward contracts $ 4 $ 3 The following table provides information on the location and amounts of pre-tax gains (losses) on our cash flow hedges for the periods ended June 30 : Three Months (in millions) Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion) Location of Gain (Loss) 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 2019 2018 2019 2018 Foreign exchange forward contracts $ (3 ) $ (4 ) Revenue, Selling and general expenses $ 1 $ (1 ) Six Months (in millions) Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion) Location of Gain (Loss) 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 2019 2018 2019 2018 Foreign exchange forward contracts $ — $ (3 ) Revenue, Selling and general expenses $ 4 $ (1 ) The activity related to the change in unrealized gains (losses) in accumulated other comprehensive loss was as follows for the periods ended June 30 : (in millions) Three Months Six Months 2019 2018 2019 2018 Net unrealized gains on cash flow hedges, net of taxes, beginning of period $ 7 $ 3 $ 4 $ 2 Change in fair value, net of tax (2 ) (5 ) 4 (4 ) Reclassification into earnings, net of tax (1 ) 1 (4 ) 1 Net unrealized gains (losses) on cash flow hedges, net of taxes, end of period $ 4 $ (1 ) $ 4 $ (1 )

Employee Benefits

Employee Benefits	6 Months Ended
	Jun. 30, 2019
Retirement Benefits [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 providing senior management with supplemental retirement, disability and death benefits. Certain supplemental retirement benefits are based on final monthly earnings. In addition, we sponsor a voluntary 401(k) plan 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, net in our consolidated statements of income. The components of net periodic benefit cost for our retirement plans and postretirement plans for the periods ended June 30 are as follows: (in millions) Three Months Six Months 2019 2018 2019 2018 Service cost $ 1 $ 1 $ 1 $ 1 Interest cost 14 18 33 36 Expected return on assets (23 ) (31 ) (54 ) (63 ) Amortization of prior service credit / actuarial loss 2 4 4 9 Net periodic benefit cost (6 ) (8 ) (16 ) (17 ) Settlement charge 1 — — 113 — Net benefit cost $ (6 ) $ (8 ) $ 97 $ (17 ) 1 The Company purchased a group annuity contract under which an insurance company assumed a portion of the Company's obligation to pay pension benefits to the plan's beneficiaries. The purchase of this group annuity contract was funded by pension plan assets. The non-cash pre-tax settlement charge reflects the accelerated recognition of a portion of unamortized actuarial losses in the plan. Net periodic benefit cost related to our postretirement plans reflected in the table above was not material for the three and six months ended June 30, 2019 and 2018 , respectively. As discussed in our Form 10-K, we changed certain discount rate assumptions for our retirement and postretirement plans which became effective on January 1, 2019. The effect of the assumption changes on retirement and postretirement expense for the three and six months ended June 30, 2019 did not have a material impact to our financial position, results of operations or cash flows. In the first six months of 2019 , we contributed $41 million to our retirement plans and expect to make additional required contributions of approximately $5 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 second half of 2019 .

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation We issue stock-based incentive awards to our eligible employees under the 2019 Stock Incentive Plan ("2019 Plan") and to our eligible non-employee Directors under a Director Deferred Stock Ownership Plan. No further awards may be granted under the 2002 Stock Incentive Plan ("2002 Plan"), although awards granted under the 2002 Plan prior to the adoption of the new 2019 Plan in June of 2019 remain outstanding in accordance with their terms. The remaining outstanding options under the 2002 Plan will have fully met their maximum term and expire in the second quarter of 2028. The new 2019 Plan permits the granting of incentive stock options, nonqualified stock options, stock appreciation rights, performance stock, restricted stock and other stock-based awards. Stock-based compensation for the periods ended June 30 is as follows: (in millions) Three Months Six Months 2019 2018 2019 2018 Stock option expense $ 1 $ 2 $ 1 $ 2 Restricted stock and unit awards expense 21 32 32 44 Total stock-based compensation expense $ 22 $ 34 $ 33 $ 46 During the six months ended June 30, 2019, the Company granted 0.3 million shares of restricted stock and unit awards, which had a weighted average grant date fair value of $212.56 per share. Total unrecognized compensation expense related to unvested stock option awards and unvested restricted stock and unit awards as of June 30, 2019 was $1 million and $98 million , respectively, which is expected to be recognized over a weighted average period of 1.0 years and 2.0 years , respectively.

Equity

Equity	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Equity	Equity Stock Repurchases On December 4, 2013, the Board of Directors approved a share repurchase program authorizing the purchase of 50 million shares, which was approximately 18% of the total shares of our outstanding common stock at that time. In any period, share repurchase transactions could result in timing differences between the recognition of those repurchases and their settlement for cash. This could result in a difference between the cash used for financing activities related to common stock repurchased and the comparable change in equity. Share repurchases for the periods ended June 30 were as follows: (in millions, except average price) Three Months Six Months 2019 2018 2019 2018 Total number of shares purchased 1 — — 3.4 5.0 Average price paid per share 2 $ — $ — $ 184.51 $ 178.11 Total cash utilized $ — $ — $ 644 $ 1,100 1 The six months ended June 30, 2019 and 2018 include shares received as part of our accelerated share repurchase agreements described in more detail below. 2 Average price paid per share information does not include the accelerated share repurchase agreements 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 June 30, 2019 , approximately 7.2 million shares remained available under the current share repurchase program which has no expiration date and purchases under this program may be made from time to time on the open market and in private transactions, depending on market conditions. Accelerated Share Repurchase Agreements 2019 We entered into an accelerated share repurchase ("ASR") agreement with a financial institution on February 11, 2019 to initiate share repurchases aggregating $500 million . The ASR agreement was structured as an uncapped ASR agreement in which we paid $500 million and received an initial delivery of approximately 2.2 million shares, representing 85% of the $500 million at a price equal to the then market price of the Company. We completed the ASR agreement on July 31, 2019 and will receive an additional 0.1 million shares in August of 2019 resulting in a total of 2.3 million shares repurchased under the ASR agreement for an average purchase price of $214.65 per share. The total number of shares repurchased under the ASR agreement is equal to $500 million divided by the volume weighted-average share price, less a discount. The repurchased shares are held in Treasury. The ASR agreement was executed under the current share repurchase program, approved by the Board of Directors on December 4, 2013. 2018 We entered into an ASR agreement with a financial institution on October 29, 2018 to initiate share repurchases aggregating $500 million . The ASR agreement was structured as an uncapped ASR agreement in which we paid $500 million and received an initial delivery of approximately 2.5 million shares, representing 85% of the $500 million at a price equal to the then market price of the Company. We completed the ASR agreement on January 2, 2019 and received an additional 0.4 million shares. We repurchased a total of 2.9 million shares under the ASR agreement for an average purchase price of $173.80 per share. The total number of shares repurchased under the ASR agreement is equal to $500 million divided by the volume weighted-average share price, less a discount. The repurchased shares are held in Treasury. The ASR agreement was executed under the current share repurchase program, approved on December 4, 2013. We entered into an 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. We completed the ASR agreement on September 25, 2018 and received an additional 0.6 million shares. We repurchased a total of 5.1 million shares under the ASR agreement for an average purchase price of $197.49 per share. The total number of shares repurchased under the ASR agreement is equal to $1 billion divided by the volume weighted-average share price, less a discount. The repurchased shares are held in Treasury. The ASR agreement was executed under the current share repurchase program, approved by the Board of Directors 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, 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, using both income and market valuation approaches. Our income and market valuation approaches incorporate Level 3 fair value measures for instances when observable inputs are not available. The more significant judgmental assumptions used to estimate the value of the S&P Dow Jones Indices LLC joint venture include an estimated discount rate, a range of assumptions that form the basis of the expected future net cash flows (e.g., the revenue growth rates and operating margins), and a company specific beta. The significant judgmental assumptions used that incorporate market data, including the relative weighting of market observable information and the comparability of that information in our valuation models, are forward-looking and could be affected by future economic and market conditions. Any adjustments to the redemption value will impact retained income. Noncontrolling interests that do not contain such redemption features are presented in equity. Changes to redeemable noncontrolling interest during the six months ended June 30, 2019 were as follows: (in millions) Balance as of December 31, 2018 $ 1,620 Net income attributable to noncontrolling interest 84 Capital contribution from noncontrolling interest 36 Distributions payable to noncontrolling interest (72 ) Redemption value adjustment 222 Balance as of June 30, 2019 $ 1,890 Accumulated Other Comprehensive Loss The following table summarizes the changes in the components of accumulated other comprehensive loss for the six months ended June 30, 2019 : (in millions) Foreign Currency Translation Adjustment Pension and Postretirement Benefit Plans Unrealized Gain (Loss) on Foreign Forward Exchange Contracts Accumulated Other Comprehensive Loss Balance as of December 31, 2018 $ (339 ) $ (407 ) $ 4 $ (742 ) Other comprehensive income before reclassifications 5 (3 ) 4 6 Reclassifications from accumulated other comprehensive loss to net earnings — 89 1 (4 ) 2 85 Net other comprehensive income 5 86 — 91 Balance as of June 30, 2019 $ (334 ) $ (321 ) $ 4 $ (651 ) 1 Reflects amortization of net actuarial losses and is net of a tax benefit of $28 million for the six months ended June 30, 2019 . 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

Earnings Per Share	6 Months Ended
	Jun. 30, 2019
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 of basic and diluted EPS for the periods ended June 30 is as follows: (in millions, except per share amounts) Three Months Six Months 2019 2018 2019 2018 Amounts attributable to S&P Global Inc. common shareholders: Net income $ 555 $ 461 $ 965 $ 951 Basic weighted-average number of common shares outstanding 246.1 251.1 246.4 251.7 Effect of stock options and other dilutive securities 1.3 2.2 1.5 2.1 Diluted weighted-average number of common shares outstanding 247.4 253.3 247.9 253.8 Earnings per share attributable to S&P Global Inc. common shareholders: Net income: Basic $ 2.25 $ 1.83 $ 3.92 $ 3.78 Diluted $ 2.24 $ 1.82 $ 3.89 $ 3.75 We have certain stock options and restricted performance shares that are potentially excluded from the computation of diluted EPS. The effect of the potential exercise of stock options is excluded when the average market price of our common stock is lower than the exercise price of the related option during the period or when a net loss exists because the effect would have been antidilutive. Additionally, restricted performance shares are excluded because the necessary vesting conditions had not been met or when a net loss exists. For the three and six months ended June 30, 2019 and 2018 , there were no stock options excluded. Restricted performance shares outstanding of 0.6 million and 0.8 million as of June 30, 2019 and 2018 , respectively, were excluded.

Restructuring

Restructuring	6 Months Ended
	Jun. 30, 2019
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring We continuously evaluate our cost structure to identify cost savings associated with streamlining our management structure. Our 2019 and 2018 restructuring plan consisted of a company-wide workforce reduction of approximately 170 and 160 positions, respectively, and are further detailed below. The charges for the restructuring plans are classified as selling and general expenses within the consolidated statements of income and the reserves are included in other current liabilities in the consolidated balance sheets. In certain circumstances, reserves are no longer needed because of efficiencies in carrying out the plans or because employees previously identified for separation resigned from the Company and did not receive severance or were reassigned due to circumstances not foreseen when the original plans were initiated. In these cases, we reverse reserves through the consolidated statements of income during the period when it is determined they are no longer needed. The initial restructuring charge recorded and the ending reserve balance as of June 30, 2019 by segment is as follows: 2019 Restructuring Plan 2018 Restructuring Plan (in millions) Initial Charge Recorded Ending Reserve Balance Initial Charge Recorded Ending Reserve Balance Ratings $ 11 $ 11 $ 8 $ 1 Market Intelligence 1 1 7 4 Platts 1 1 — — Corporate 7 7 10 1 Total $ 20 $ 20 $ 25 $ 6 We recorded a pre-tax restructuring charge of $20 million primarily related to employee severance charges for the 2019 restructuring plan during the six months ended June 30, 2019 . The ending reserve balance for the 2018 restructuring plan was $24 million as of December 31, 2018. For the six months ended June 30, 2019 , we have reduced the reserve for the 2018 restructuring plan by $18 million . The reductions primarily related to cash payments for employee severance charges.

Segment and Related Information

Segment and Related Information	6 Months Ended
	Jun. 30, 2019
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 Corporate Unallocated, other expense (income), net, or interest expense, net, as these are amounts that do not affect the operating results of our reportable segments. Beginning in the first quarter of 2019, the contract obligations for revenue from Kensho's major customers were transferred to Market Intelligence for fulfillment. As a result of this transfer, from January 1, 2019 revenue from contracts with Kensho’s customers is reflected in Market Intelligence’s results. In 2018, the revenue from contracts with Kensho’s customers was reported in Corporate revenue. A summary of operating results for the periods ended June 30 is as follows: Revenue Three Months Six Months (in millions) 2019 2018 2019 2018 Ratings $ 801 $ 775 $ 1,497 $ 1,523 Market Intelligence 487 449 969 889 Platts 213 205 420 401 Indices 235 207 452 418 Corporate — 5 — 5 Intersegment elimination 1 (32 ) (32 ) (63 ) (60 ) Total revenue $ 1,704 $ 1,609 $ 3,275 $ 3,176 Operating Profit Three Months Six Months (in millions) 2019 2018 2019 2018 Ratings 2 $ 455 $ 369 $ 818 $ 777 Market Intelligence 3 147 127 292 238 Platts 4 107 98 201 188 Indices 5 162 137 311 285 Total reportable segments 871 731 1,622 1,488 Corporate Unallocated 6 (58 ) (59 ) (104 ) (105 ) Total operating profit $ 813 $ 672 $ 1,518 $ 1,383 Note - In the fourth quarter of 2018, Trucost was transferred from Indices to Market Intelligence and historical reporting was retroactively revised to reflect the change. 1 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. 2 Operating profit includes employee severance charges of $11 million for the three and six months ended June 30, 2019 . Operating profit includes legal settlement expenses of $73 million for the three and six months ended June 30, 2018. Operating profit also includes amortization of intangibles from acquisitions of $1 million for the three and six months ended June 30, 2019 and 2018 . 3 Operating profit includes employee severance charges of $1 million for the three and six months ended June 30, 2019 . Operating profit also includes amortization of intangibles from acquisitions of $19 million and $18 million for the three months ended June 30, 2019 and 2018 , respectively, and $37 million and $36 million for the six months ended June 30, 2019 and 2018 , respectively. 4 Operating profit includes employee severance charges of $1 million for the three and six months ended June 30, 2019 . Operating profit also includes amortization of intangibles from acquisitions of $3 million and $4 million for the three months ended June 30, 2019 and 2018 , respectively, and $7 million and $9 million for the six months ended June 30, 2019 and 2018 , respectively. 5 Operating profit for includes amortization of intangibles from acquisitions of $1 million for the three months ended June 30, 2019 and 2018 and $3 million for the six months ended June 30, 2019 and 2018 . 6 Operating loss includes Kensho retention related expenses of $5 million and $12 million for the three months ended June 30, 2019 and 2018, respectively, and $11 million and $12 million for the six months ended June 30, 2019 and 2018 , respectively. Operating loss includes employee severance charges of $7 million and a lease impairment of $5 million for the three and six months ended June 30, 2019 . Operating loss also includes amortization of intangibles from acquisitions of $7 million and $14 million for the three and six months months ended June 30, 2019 , respectively, and $8 million for the three and six months ended June 30, 2018 . The following table presents our revenue disaggregated by revenue type: (in millions) Ratings Market Intelligence Platts Indices Corporate Intersegment Elimination 1 Total Three Months Ended June 30, 2019 Subscription $ — $ 471 $ 195 $ 40 $ — $ — $ 706 Non-transaction 372 — — — — (32 ) 340 Non-subscription / Transaction 429 12 3 — — — 444 Asset-linked fees — 4 — 159 — — 163 Sales usage-based royalties — — 15 36 — — 51 Total revenue $ 801 $ 487 $ 213 $ 235 $ — $ (32 ) $ 1,704 Timing of revenue recognition Services transferred at a point in time $ 429 $ 12 $ 3 $ — $ — $ — $ 444 Services transferred over time 372 475 210 235 — (32 ) 1,260 Total revenue $ 801 $ 487 $ 213 $ 235 $ — $ (32 ) $ 1,704 Six Months Ended June 30, 2019 Subscription $ — $ 939 $ 386 $ 80 $ — $ 1,405 Non-transaction 737 — — — — (63 ) 674 Non-subscription / Transaction 760 21 5 — — — 786 Asset-linked fees — 9 — 302 — — 311 Sales usage-based royalties — — 29 70 — — 99 Total revenue $ 1,497 $ 969 $ 420 $ 452 $ — $ (63 ) $ 3,275 Timing of revenue recognition Services transferred at a point in time $ 760 $ 21 $ 5 $ — $ — $ — $ 786 Services transferred over time 737 948 415 452 — (63 ) 2,489 Total revenue $ 1,497 $ 969 $ 420 $ 452 $ — $ (63 ) $ 3,275 (in millions) Ratings Market Intelligence Platts Indices Corporate Intersegment Elimination 1 Total Three Months Ended June 30, 2018 Subscription $ — $ 431 $ 188 $ 34 $ 5 $ — $ 658 Non-transaction 378 — — — — (32 ) 346 Non-subscription / Transaction 397 13 4 — — — 414 Asset-linked fees — 5 — 135 — — 140 Sales usage-based royalties — — 13 38 — — 51 Total revenue $ 775 $ 449 $ 205 $ 207 $ 5 $ (32 ) $ 1,609 Timing of revenue recognition Services transferred at a point in time $ 397 $ 13 $ 4 $ — $ — $ — $ 414 Services transferred over time 378 436 201 207 5 (32 ) 1,195 Total revenue $ 775 $ 449 $ 205 $ 207 $ 5 $ (32 ) $ 1,609 Six Months Ended June 30, 2018 Subscription $ — $ 856 $ 369 $ 64 $ 5 $ — $ 1,294 Non-transaction 757 — — — — (60 ) 697 Non-subscription / Transaction 766 23 6 — — — 795 Asset-linked fees — 10 — 265 — — 275 Sales usage-based royalties — — 26 89 — — 115 Total revenue $ 1,523 $ 889 $ 401 $ 418 $ 5 $ (60 ) $ 3,176 Timing of revenue recognition Services transferred at a point in time $ 766 $ 23 $ 6 $ — $ — $ — $ 795 Services transferred over time 757 866 395 418 5 (60 ) 2,381 Total revenue $ 1,523 $ 889 $ 401 $ 418 $ 5 $ (60 ) $ 3,176 1 Intersegment eliminations primarily consists of a 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 periods ended June 30 : (in millions) Three Months Six Months 2019 2018 2019 2018 U.S. $ 1,023 $ 962 $ 1,966 $ 1,915 European region 415 402 788 782 Asia 177 158 346 314 Rest of the world 89 87 175 165 Total $ 1,704 $ 1,609 $ 3,275 $ 3,176 See Note 2 — Acquisitions and Divestitures and Note 10 — Restructuring for additional actions that impacted the segment operating results.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Leases We determine whether an arrangement meets the criteria for an operating lease or a finance lease at the inception of the arrangement. We have operating leases for office space and equipment. Our leases have remaining lease terms of 1 year to 14 years , some of which include options to extend the leases for up to 12 years , and some of which include options to terminate the leases within 1 year . We consider these options in determining the lease term used to establish our right-of use ("ROU") assets and associated lease liabilities. We sublease certain real estate leases to third parties which mainly consist of operating leases for space within our offices. Leases with an initial term of 12 months or less are not recorded on the balance sheet; we recognize lease expenses for these leases on a straight line-basis over the lease term in operating-related expenses and selling and general expenses. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of future minimum lease payments over the lease term at commencement date. Our future minimum based payments used to determine our lease liabilities include minimum based rent payments and escalations. As most of our leases do not provide an implicit rate, we use our estimated incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The following table provides information on the location and amounts of our leases on our consolidated balance sheet as of June 30, 2019 : (in millions) June 30, Balance Sheet Location 2019 Assets Right of use assets Lease right-of-use assets $ 669 Liabilities Other current liabilities Current lease liabilities 109 Lease liabilities — non-current Noncurrent lease liabilities 621 The components of lease expense for the periods ended June 30 are as follows: (in millions) Three Months Six Months 2019 2019 Operating lease cost $ 41 $ 77 Sublease income (4 ) (8 ) Total lease cost $ 37 $ 69 Supplemental information related to leases for the periods ended June 30 are as follows: (in millions) Three Months Six Months 2019 2019 Cash paid for amounts included in the measurement for operating lease liabilities Operating cash flows from operating leases $ 36 $ 71 Right-of-use assets obtained in exchange for lease obligations Operating leases 23 737 Weighted-average remaining lease term and discount rate for our operating leases as of June 30 are as follows: 2019 Weighted-average remaining lease term (years) 9.5 Weighted-average discount rate 3.93 % Maturities of lease liabilities for our operating leases are as follows: (in millions) 2019 (Excluding the six months ended June 30, 2019) $ 84 2020 122 2021 104 2022 89 2023 81 2024 and beyond 421 Total undiscounted lease payments $ 901 Less: Imputed interest 171 Present value of lease liabilities $ 730 Related Party Agreements In March of 2018, the Company made a $20 million contribution to the S&P Global Foundation included in selling and general expenses. 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, replacing the 2005 license agreement between Indices and CME Group. Under the terms of the License Agreement, S&P Dow Jones Indices LLC receives a share of the profits from the trading and clearing of CME Group's equity index products. During the three and six months ended June 30, 2019 , S&P Dow Jones Indices LLC earned $30 million and $59 million , respectively, of revenue under the terms of the License Agreement. During the three and six months ended June 30, 2018 , S&P Dow Jones Indices LLC earned $24 million and $55 million , respectively, of revenue under the terms of the License Agreement. The entire amount of this revenue is included in our consolidated statement of income and the portion related to the 27% noncontrolling interest is removed in net income attributable to noncontrolling interests. Legal 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. For example, 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. 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. In view of the uncertainty inherent in litigation and government and regulatory enforcement matters, we cannot predict the eventual outcome of such matters or the timing of their resolution, or in most cases reasonably estimate what the eventual judgments, damages, fines, penalties or impact of activity (if any) restrictions may be. As a result, we cannot provide assurance that such outcomes 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 or competitive position, which may require that we record liabilities in the consolidated financial statements in future periods.

Recently Issued or Adopted Acco

Recently Issued or Adopted Accounting Standards	6 Months Ended
	Jun. 30, 2019
Accounting Changes and Error Corrections [Abstract]
Recently Issued or Adopted Accounting Standards	Recently Issued or Adopted Accounting Standards In November of 2018, the Financial Accounting Standards Board ("FASB") issued guidance that provides clarification on whether certain transactions between collaborative arrangement participants should be accounted for as revenue under Accounting Standards Codification ("ASC") 606. The guidance is effective for reporting periods beginning after December 15, 2019; 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 2018, the FASB issued guidance to align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The guidance is effective for reporting periods beginning after December 15, 2019; however early adoption is permitted. We are currently evaluating the impact of this guidance on our consolidated financial statements. In August of 2017, the 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 was effective on January 1, 2019, and the adoption of this guidance did not have a significant impact on our consolidated financial statements. In January of 2017, the FASB issued guidance that simplifies the subsequent measurement of goodwill and eliminates Step 2 from the goodwill impairment test. Under the new guidance, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The guidance is effective for reporting periods beginning after December 15, 2019; however, early adoption is permitted. We do not expect this guidance to have a significant impact on our consolidated financial statements. In June of 2016, the FASB issued guidance that amends the measurement of credit losses on certain financial instruments by requiring the use of an expected loss methodology, which will result in more timely recognition of credit losses. The Company currently expects that the most notable impact of this guidance may relate to its processes around the assessment of the adequacy of its allowance for doubtful accounts on accounts receivable and the recognition of credit losses. The guidance is effective for reporting periods beginning after December 15, 2019. We do not expect this guidance to have a significant impact on our consolidated financial statements. In February of 2016, the FASB issued guidance amending the accounting for leases that requires a lessee to recognize "right of use" assets with offsetting lease liabilities on the balance sheet, with expenses recognized similar to previously issued guidance. This guidance is effective for reporting periods beginning after December 15, 2018 with early adoption permitted. We adopted the new lease standard effective January 1, 2019 using the modified retrospective transition method. In July of 2018, the FASB issued a subsequent update providing entities an additional transition method to adopt the new lease standard, allowing entities to adopt the standard prospectively without restating prior period's financial statements. We have elected this transition method upon adoption on January 1, 2019. We have also elected to apply the "package" of practical expedients permitting entities to forgo reassessment of (1) the lease classification of expired or existing leases, (2) whether any expired or existing contracts contain leases, and (3) the accounting for initial direct costs of existing leases. This standard had a material impact on our consolidated balance sheet, but did not have an impact on our consolidated statements of income or cash flows. As part of our implementation process, we have refined our processes, procedures, and controls to capture the complete population of leases that incorporates a third party software solution to report the financial statement impact of the new standard. See Note 12 — Commitments and Contingencies for further details on our leases.

Condensed Consolidating Financi

Condensed Consolidating Financial Statements	6 Months Ended
	Jun. 30, 2019
Condensed Financial Information Disclosure [Abstract]
Condensed Consolidating Financial Statements	Condensed Consolidating Financial Statements On May 17, 2018, we issued $500 million of 4.5% notes due in 2048. 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 that were repaid in 2018, $700 million of 3.3% senior notes due in 2020 and $900 million of 4.4% senior notes due in 2026. See Note 4 — Debt for additional information. The senior notes described above are fully and unconditionally guaranteed by Standard & Poor's Financial Services LLC, a 100% owned subsidiary of the Company. The following condensed consolidating financial statements present the results of operations, financial position and cash flows of S&P Global Inc., Standard & Poor's Financial Services LLC, and the Non-Guarantor Subsidiaries of S&P Global Inc. and Standard & Poor's Financial Services LLC, and the eliminations necessary to arrive at the information for the Company on a consolidated basis. Statement of Income Three Months Ended June 30, 2019 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 208 $ 489 $ 1,047 $ (40 ) $ 1,704 Expenses: Operating-related expenses 46 110 336 (40 ) 452 Selling and general expenses 51 83 253 — 387 Depreciation 10 4 7 — 21 Amortization of intangibles — — 31 — 31 Total expenses 107 197 627 (40 ) 891 Operating profit 101 292 420 — 813 Other income, net (5 ) — (1 ) — (6 ) Interest expense (income), net 40 — (3 ) — 37 Non-operating intercompany transactions 95 (20 ) (1,234 ) 1,159 — Income before taxes on income (29 ) 312 1,658 (1,159 ) 782 (Benefit) provision for taxes on income (3 ) 89 94 — 180 Equity in net income of subsidiaries 1,741 — — (1,741 ) — Net income $ 1,715 $ 223 $ 1,564 $ (2,900 ) $ 602 Less: net income attributable to noncontrolling interests — — — (47 ) (47 ) Net income attributable to S&P Global Inc. $ 1,715 $ 223 $ 1,564 $ (2,947 ) $ 555 Comprehensive income $ 1,721 $ 223 $ 1,540 $ (2,900 ) $ 584 Statement of Income Six Months Ended June 30, 2019 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 409 $ 925 $ 2,018 $ (77 ) $ 3,275 Expenses: Operating-related expenses 85 228 662 (77 ) 898 Selling and general expenses 75 163 517 — 755 Depreciation 22 6 13 — 41 Amortization of intangibles — — 63 — 63 Total expenses 182 397 1,255 (77 ) 1,757 Operating profit 227 528 763 — 1,518 Other expense (income), net 102 — (5 ) — 97 Interest expense (income), net 77 — (4 ) — 73 Non-operating intercompany transactions 191 (37 ) (1,336 ) 1,182 — Income before taxes on income (143 ) 565 2,108 (1,182 ) 1,348 (Benefit) provision for taxes on income (43 ) 159 177 — 293 Equity in net income of subsidiaries 2,247 — — (2,247 ) — Net income $ 2,147 $ 406 $ 1,931 $ (3,429 ) $ 1,055 Less: net income attributable to noncontrolling interests — — — (90 ) (90 ) Net income attributable to S&P Global Inc. $ 2,147 $ 406 $ 1,931 $ (3,519 ) $ 965 Comprehensive income $ 2,235 $ 406 $ 1,935 $ (3,430 ) $ 1,146 Statement of Income Three Months Ended June 30, 2018 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 200 $ 463 $ 985 $ (39 ) $ 1,609 Expenses: Operating-related expenses 43 107 330 (39 ) 441 Selling and general expenses 69 57 318 — 444 Depreciation 11 2 6 — 19 Amortization of intangibles — — 33 — 33 Total expenses 123 166 687 (39 ) 937 Operating profit 77 297 298 — 672 Other income, net (6 ) — (5 ) — (11 ) Interest expense (income), net 28 — (2 ) — 26 Non-operating intercompany transactions 86 (22 ) (358 ) 294 — Income before taxes on income (31 ) 319 663 (294 ) 657 Provision for taxes on income 27 75 54 — 156 Equity in net income of subsidiaries 812 — — (812 ) — Net income $ 754 $ 244 $ 609 $ (1,106 ) $ 501 Less: net income attributable to noncontrolling interests — — — (40 ) (40 ) Net income attributable to S&P Global Inc. $ 754 $ 244 $ 609 $ (1,146 ) $ 461 Comprehensive income $ 764 $ 244 $ 521 $ (1,103 ) $ 426 Statement of Income Six Months Ended June 30, 2018 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 391 $ 897 $ 1,962 $ (74 ) $ 3,176 Expenses: Operating-related expenses 74 224 653 (74 ) 877 Selling and general expenses 108 143 568 — 819 Depreciation 20 4 16 — 40 Amortization of intangibles — — 57 — 57 Total expenses 202 371 1,294 (74 ) 1,793 Operating profit 189 526 668 — 1,383 Other income, net (14 ) — (2 ) — (16 ) Interest expense (income), net 66 1 (6 ) — 61 Non-operating intercompany transactions 186 (43 ) (1,454 ) 1,311 — Income before taxes on income (49 ) 568 2,130 (1,311 ) 1,338 Provision for taxes on income 13 146 144 — 303 Equity in net income of subsidiaries 2,324 — — (2,324 ) — Net income $ 2,262 $ 422 $ 1,986 $ (3,635 ) $ 1,035 Less: net income attributable to noncontrolling interests — — — (84 ) (84 ) Net income attributable to S&P Global Inc. $ 2,262 $ 422 $ 1,986 $ (3,719 ) $ 951 Comprehensive income $ 2,251 $ 421 $ 1,932 $ (3,635 ) $ 969 Balance Sheet June 30, 2019 (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 $ 556 $ — $ 1,325 $ — $ 1,881 Restricted cash — — 39 — 39 Accounts receivable, net of allowance for doubtful accounts 269 195 1,079 — 1,543 Intercompany receivable 585 2,330 3,281 (6,196 ) — Prepaid and other current assets 45 — 186 — 231 Total current assets 1,455 2,525 5,910 (6,196 ) 3,694 Property and equipment, net of accumulated depreciation 205 — 75 — 280 Right of use assets 404 2 263 — 669 Goodwill 261 — 3,251 7 3,519 Other intangible assets, net — — 1,453 — 1,453 Investments in subsidiaries 10,631 6 8,008 (18,645 ) — Intercompany loans receivable 137 — 1,137 (1,274 ) — Other non-current assets 208 43 320 (1 ) 570 Total assets $ 13,301 $ 2,576 $ 20,417 $ (26,109 ) $ 10,185 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 100 $ 7 $ 107 $ — $ 214 Intercompany payable 5,107 55 1,034 (6,196 ) — Accrued compensation and contributions to retirement plans 108 27 134 — 269 Income taxes currently payable 18 — 70 — 88 Unearned revenue 268 259 1,182 — 1,709 Other current liabilities 187 20 212 — 419 Total current liabilities 5,788 368 2,739 (6,196 ) 2,699 Long-term debt 3,664 — — — 3,664 Lease liabilities — non-current 386 1 234 — 621 Intercompany loans payable 120 — 1,154 (1,274 ) — Pension and other postretirement benefits 162 — 68 — 230 Other non-current liabilities 131 76 304 — 511 Total liabilities 10,251 445 4,499 (7,470 ) 7,725 Redeemable noncontrolling interest — — — 1,890 1,890 Equity: Common stock 294 — 2,371 (2,371 ) 294 Additional paid-in capital 26 622 9,679 (9,537 ) 790 Retained income 14,569 1,509 4,353 (8,721 ) 11,710 Accumulated other comprehensive loss (209 ) — (485 ) 43 (651 ) Less: common stock in treasury (11,630 ) — (1 ) — (11,631 ) Total equity - controlling interests 3,050 2,131 15,917 (20,586 ) 512 Total equity - noncontrolling interests — — 1 57 58 Total equity 3,050 2,131 15,918 (20,529 ) 570 Total liabilities and equity $ 13,301 $ 2,576 $ 20,417 $ (26,109 ) $ 10,185 Balance Sheet December 31, 2018 (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 $ 694 $ — $ 1,223 $ — $ 1,917 Restricted cash — — 41 — 41 Accounts receivable, net of allowance for doubtful accounts 163 109 1,177 — 1,449 Intercompany receivable 550 2,138 2,873 (5,561 ) — Prepaid and other current assets 58 3 136 — 197 Total current assets 1,465 2,250 5,450 (5,561 ) 3,604 Property and equipment, net of accumulated depreciation 192 — 78 — 270 Right of use assets — — — — — Goodwill 261 — 3,265 9 3,535 Other intangible assets, net — — 1,524 — 1,524 Investments in subsidiaries 8,599 6 8,030 (16,635 ) — Intercompany loans receivable 130 — 1,643 (1,773 ) — Other non-current assets 194 45 286 — 525 Total assets $ 10,841 $ 2,301 $ 20,276 $ (23,960 ) $ 9,458 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 89 $ 15 $ 107 $ — $ 211 Intercompany payable 4,453 32 1,076 (5,561 ) — Accrued compensation and contributions to retirement plans 125 33 196 — 354 Income taxes currently payable 1 — 71 — 72 Unearned revenue 240 235 1,166 — 1,641 Other current liabilities 180 16 155 — 351 Total current liabilities 5,088 331 2,771 (5,561 ) 2,629 Long-term debt 3,662 — — — 3,662 Lease liabilities — non-current — — — — — Intercompany loans payable 114 — 1,659 (1,773 ) — Pension and other postretirement benefits 162 — 67 — 229 Other non-current liabilities 166 75 393 — 634 Total liabilities 9,192 406 4,890 (7,334 ) 7,154 Redeemable noncontrolling interest — — — 1,620 1,620 Equity: Common stock 294 — 2,279 (2,279 ) 294 Additional paid-in capital 72 618 9,784 (9,641 ) 833 Retained income 12,622 1,277 3,824 (6,439 ) 11,284 Accumulated other comprehensive loss (299 ) — (489 ) 46 (742 ) Less: common stock in treasury (11,040 ) — (13 ) 12 (11,041 ) Total equity - controlling interests 1,649 1,895 15,385 (18,301 ) 628 Total equity - noncontrolling interests — — 1 55 56 Total equity 1,649 1,895 15,386 (18,246 ) 684 Total liabilities and equity $ 10,841 $ 2,301 $ 20,276 $ (23,960 ) $ 9,458 Statement of Cash Flows Six Months Ended June 30, 2019 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Operating Activities: Net income $ 2,147 $ 406 $ 1,931 $ (3,429 ) $ 1,055 Adjustments to reconcile net income to cash provided by operating activities: Depreciation 22 6 13 — 41 Amortization of intangibles — — 63 — 63 Provision for losses on accounts receivable 3 3 6 — 12 Deferred income taxes 4 1 7 — 12 Stock-based compensation 9 4 20 — 33 Pension settlement charge, net of taxes 85 — — — 85 Other 8 7 23 — 38 Changes in operating assets and liabilities, net of effect of acquisitions: Accounts receivable (109 ) (88 ) 102 — (95 ) Prepaid and other current assets (1 ) 2 (43 ) — (42 ) Accounts payable and accrued expenses 1 (13 ) (62 ) — (74 ) Unearned revenue 28 27 (55 ) — — Accrued legal settlements — (1 ) — — (1 ) Other current liabilities (57 ) (3 ) (23 ) — (83 ) Net change in prepaid/accrued income taxes 33 — — — 33 Net change in other assets and liabilities (26 ) (4 ) (37 ) (67 ) Cash provided by operating activities 2,147 347 1,945 (3,429 ) 1,010 Investing Activities: Capital expenditures (25 ) (3 ) (18 ) — (46 ) Acquisitions, net of cash acquired — — (4 ) — (4 ) Changes in short-term investments — — (3 ) — (3 ) Cash used for investing activities (25 ) (3 ) (25 ) — (53 ) Financing Activities: Dividends paid to shareholders (281 ) — — — (281 ) Distributions to noncontrolling interest holders, net — — (59 ) — (59 ) Repurchase of treasury shares (644 ) — — — (644 ) Exercise of stock options 29 — 2 — 31 Employee withholding tax on share-based payments and other (53 ) — (2 ) — (55 ) Intercompany financing activities (1,311 ) (344 ) (1,774 ) 3,429 — Cash used for financing activities (2,260 ) (344 ) (1,833 ) 3,429 (1,008 ) Effect of exchange rate changes on cash — — 13 — 13 Net change in cash, cash equivalents, and restricted cash (138 ) — 100 — (38 ) Cash, cash equivalents, and restricted cash at beginning of period 694 — 1,264 — 1,958 Cash, cash equivalents, and restricted cash at end of period $ 556 $ — $ 1,364 $ — $ 1,920 Statement of Cash Flows Six Months Ended June 30, 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 $ 2,262 $ 422 $ 1,986 $ (3,635 ) $ 1,035 Adjustments to reconcile net income to cash provided by operating activities: Depreciation 20 4 16 — 40 Amortization of intangibles — — 57 — 57 Provision for losses on accounts receivable — 1 9 — 10 Deferred income taxes (86 ) — 108 22 Stock-based compensation 14 8 24 — 46 Other 19 — 61 — 80 Changes in operating assets and liabilities, net of effect of acquisitions: Accounts receivable (6 ) (29 ) 54 — 19 Prepaid and other current assets (20 ) 1 — — (19 ) Accounts payable and accrued expenses (48 ) (68 ) (101 ) — (217 ) Unearned revenue 9 30 2 — 41 Accrued legal settlements — (29 ) — (29 ) Other current liabilities 20 (4 ) (85 ) — (69 ) Net change in prepaid/accrued income taxes 24 1 (1 ) — 24 Net change in other assets and liabilities (27 ) 2 (112 ) — (137 ) Cash provided by operating activities 2,181 368 1,989 (3,635 ) 903 Investing Activities: Capital expenditures (43 ) (10 ) (7 ) — (60 ) Acquisitions, net of cash acquired — — (246 ) — (246 ) Changes in short-term investments — — 1 — 1 Cash used for investing activities (43 ) (10 ) (252 ) — (305 ) Financing Activities: Proceeds from issuance of senior notes, net 489 — — — 489 Payments on senior notes (403 ) — — — (403 ) Dividends paid to shareholders (253 ) — — — (253 ) Distributions to noncontrolling interest holders, net — — (78 ) — (78 ) Purchase of CRISIL shares — — (25 ) — (25 ) Repurchase of treasury shares (1,100 ) — — — (1,100 ) Exercise of stock options 14 — 2 — 16 Employee withholding tax on share-based payments and other (50 ) — — — (50 ) Intercompany financing activities (701 ) (358 ) (2,576 ) 3,635 — Cash used for financing activities (2,004 ) (358 ) (2,677 ) 3,635 (1,404 ) Effect of exchange rate changes on cash 1 — (39 ) — (38 ) Net change in cash, cash equivalents, and restricted cash 135 — (979 ) — (844 ) Cash, cash equivalents, and restricted cash at beginning of period 632 — 2,147 — 2,779 Cash, cash equivalents, and restricted cash at end of period $ 767 $ — $ 1,168 $ — $ 1,935

Nature of Operations and Basi_2

Nature of Operations and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2019
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 notes 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, 2018 (our “Form 10-K”). Certain prior-year amounts have been reclassified to conform with current presentation. In the opinion of management, all normal recurring adjustments considered necessary for a fair statement of the results of the interim periods have been included. The operating results for the three and six months ended June 30, 2019 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 November of 2018, the Financial Accounting Standards Board ("FASB") issued guidance that provides clarification on whether certain transactions between collaborative arrangement participants should be accounted for as revenue under Accounting Standards Codification ("ASC") 606. The guidance is effective for reporting periods beginning after December 15, 2019; 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 2018, the FASB issued guidance to align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The guidance is effective for reporting periods beginning after December 15, 2019; however early adoption is permitted. We are currently evaluating the impact of this guidance on our consolidated financial statements. In August of 2017, the 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 was effective on January 1, 2019, and the adoption of this guidance did not have a significant impact on our consolidated financial statements. In January of 2017, the FASB issued guidance that simplifies the subsequent measurement of goodwill and eliminates Step 2 from the goodwill impairment test. Under the new guidance, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The guidance is effective for reporting periods beginning after December 15, 2019; however, early adoption is permitted. We do not expect this guidance to have a significant impact on our consolidated financial statements. In June of 2016, the FASB issued guidance that amends the measurement of credit losses on certain financial instruments by requiring the use of an expected loss methodology, which will result in more timely recognition of credit losses. The Company currently expects that the most notable impact of this guidance may relate to its processes around the assessment of the adequacy of its allowance for doubtful accounts on accounts receivable and the recognition of credit losses. The guidance is effective for reporting periods beginning after December 15, 2019. We do not expect this guidance to have a significant impact on our consolidated financial statements. In February of 2016, the FASB issued guidance amending the accounting for leases that requires a lessee to recognize "right of use" assets with offsetting lease liabilities on the balance sheet, with expenses recognized similar to previously issued guidance. This guidance is effective for reporting periods beginning after December 15, 2018 with early adoption permitted. We adopted the new lease standard effective January 1, 2019 using the modified retrospective transition method. In July of 2018, the FASB issued a subsequent update providing entities an additional transition method to adopt the new lease standard, allowing entities to adopt the standard prospectively without restating prior period's financial statements. We have elected this transition method upon adoption on January 1, 2019. We have also elected to apply the "package" of practical expedients permitting entities to forgo reassessment of (1) the lease classification of expired or existing leases, (2) whether any expired or existing contracts contain leases, and (3) the accounting for initial direct costs of existing leases. This standard had a material impact on our consolidated balance sheet, but did not have an impact on our consolidated statements of income or cash flows. As part of our implementation process, we have refined our processes, procedures, and controls to capture the complete population of leases that incorporates a third party software solution to report the financial statement impact of the new standard. See Note 12 — Commitments and Contingencies for further details on our leases.

Nature of Operations and Basi_3

Nature of Operations and Basis of Presentation (Tables)	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Components of Other Income, Net	The components of other (income) expense, net for the three and six months ended June 30 are as follows: (in millions) Three Months Six Months 2019 2018 2019 2018 Other components of net periodic benefit cost 1 $ (7 ) $ (8 ) $ 96 $ (16 ) Net loss (gain) from investments 1 (3 ) 1 — Other (income) expense, net $ (6 ) $ (11 ) $ 97 $ (16 ) 1 During the first quarter of 2019, the Company purchased a group annuity contract under which an insurance company assumed a portion of the Company's obligation to pay pension benefits to the plan's beneficiaries. The purchase of this group annuity contract was funded by pension plan assets. The non-cash pre-tax settlement charge of $113 million for the six months ended June 30, 2019 reflects the accelerated recognition of a portion of unamortized actuarial losses in the plan.

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Schedule of Operating Profit of Business Held-for-Sale	The operating profit of our businesses held for sale for the periods ending June 30, 2019 and 2018 is as follows: (in millions) Three Months Six Months 2019 2018 2019 2018 Operating profit $ 3 $ 3 $ 6 $ 6

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Schedule of Debt	A summary of long-term debt outstanding is as follows: (in millions) June 30, December 31, 3.3% Senior Notes, due 2020 1 699 698 4.0% Senior Notes, due 2025 2 693 693 4.4% Senior Notes, due 2026 3 893 892 2.95% Senior Notes, due 2027 4 493 493 6.55% Senior Notes, due 2037 5 396 396 4.5% Senior Notes, due 2048 6 490 490 Long-term debt $ 3,664 $ 3,662 1 Interest payments are due semiannually on February 14 and August 14, and as of June 30, 2019 , the unamortized debt discount and issuance costs total $1 million . 2 Interest payments are due semiannually on June 15 and December 15, and as of June 30, 2019 , the unamortized debt discount and issuance costs total $7 million . 3 Interest payments are due semiannually on February 15 and August 15, and as of June 30, 2019 , the unamortized debt discount and issuance costs total $7 million . 4 Interest payments are due semiannually on January 22 and July 22, and as of June 30, 2019 , the unamortized debt discount and issuance costs total $7 million . 5 Interest payments are due semiannually on May 15 and November 15, and as of June 30, 2019 , the unamortized debt discount and issuance costs total $4 million . 6 Interest payments are due semiannually on May 15 and November 15, beginning on November 15, 2018, and as of June 30, 2019 , the unamortized debt discount and issuance costs total $10 million .

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of the Location and Fair Value Amounts of Cash Flow Hedges	The following table provides information on the location and fair value amounts of our cash flow hedges as of June 30, 2019 and December 31, 2018 : (in millions) June 30, December 31, Balance Sheet Location 2019 2018 Derivatives designated as cash flow hedges: Prepaid and other current assets Foreign exchange forward contracts $ 4 $ 3
Schedule of the Location and Amounts of Pre-Tax Gains (Losses) on Cash Flow Hedges	The following table provides information on the location and amounts of pre-tax gains (losses) on our cash flow hedges for the periods ended June 30 : Three Months (in millions) Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion) Location of Gain (Loss) 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 2019 2018 2019 2018 Foreign exchange forward contracts $ (3 ) $ (4 ) Revenue, 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 periods ended June 30 : (in millions) Three Months Six Months 2019 2018 2019 2018 Net unrealized gains on cash flow hedges, net of taxes, beginning of period $ 7 $ 3 $ 4 $ 2 Change in fair value, net of tax (2 ) (5 ) 4 (4 ) Reclassification into earnings, net of tax (1 ) 1 (4 ) 1 Net unrealized gains (losses) on cash flow hedges, net of taxes, end of period $ 4 $ (1 ) $ 4 $ (1 )

Employee Benefits (Tables)

Employee Benefits (Tables)	6 Months Ended
	Jun. 30, 2019
Retirement Benefits [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 periods ended June 30 are as follows: (in millions) Three Months Six Months 2019 2018 2019 2018 Service cost $ 1 $ 1 $ 1 $ 1 Interest cost 14 18 33 36 Expected return on assets (23 ) (31 ) (54 ) (63 ) Amortization of prior service credit / actuarial loss 2 4 4 9 Net periodic benefit cost (6 ) (8 ) (16 ) (17 ) Settlement charge 1 — — 113 — Net benefit cost $ (6 ) $ (8 ) $ 97 $ (17 ) 1 The Company purchased a group annuity contract under which an insurance company assumed a portion of the Company's obligation to pay pension benefits to the plan's beneficiaries. The purchase of this group annuity contract was funded by pension plan assets. The non-cash pre-tax settlement charge reflects the accelerated recognition of a portion of unamortized actuarial losses in the plan.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Schedule of Stock-Based Compensation	Stock-based compensation for the periods ended June 30 is as follows: (in millions) Three Months Six Months 2019 2018 2019 2018 Stock option expense $ 1 $ 2 $ 1 $ 2 Restricted stock and unit awards expense 21 32 32 44 Total stock-based compensation expense $ 22 $ 34 $ 33 $ 46

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Schedule of Share Repurchases	Share repurchases for the periods ended June 30 were as follows: (in millions, except average price) Three Months Six Months 2019 2018 2019 2018 Total number of shares purchased 1 — — 3.4 5.0 Average price paid per share 2 $ — $ — $ 184.51 $ 178.11 Total cash utilized $ — $ — $ 644 $ 1,100 1 The six months ended June 30, 2019 and 2018 include shares received as part of our accelerated share repurchase agreements described in more detail below. 2 Average price paid per share information does not include the accelerated share repurchase agreements as discussed in more detail below.
Schedule of Redeemable Noncontrolling Interest	Changes to redeemable noncontrolling interest during the six months ended June 30, 2019 were as follows: (in millions) Balance as of December 31, 2018 $ 1,620 Net income attributable to noncontrolling interest 84 Capital contribution from noncontrolling interest 36 Distributions payable to noncontrolling interest (72 ) Redemption value adjustment 222 Balance as of June 30, 2019 $ 1,890
Schedule of Changes in the Components of Accumulated Other Comprehensive Loss	The following table summarizes the changes in the components of accumulated other comprehensive loss for the six months ended June 30, 2019 : (in millions) Foreign Currency Translation Adjustment Pension and Postretirement Benefit Plans Unrealized Gain (Loss) on Foreign Forward Exchange Contracts Accumulated Other Comprehensive Loss Balance as of December 31, 2018 $ (339 ) $ (407 ) $ 4 $ (742 ) Other comprehensive income before reclassifications 5 (3 ) 4 6 Reclassifications from accumulated other comprehensive loss to net earnings — 89 1 (4 ) 2 85 Net other comprehensive income 5 86 — 91 Balance as of June 30, 2019 $ (334 ) $ (321 ) $ 4 $ (651 ) 1 Reflects amortization of net actuarial losses and is net of a tax benefit of $28 million for the six months ended June 30, 2019 . See Note 6 — Employee Benefits for additional details of items reclassed from accumulated other comprehensive loss to net earnings. 2 See Note 5 — Derivative Instruments for additional details of items reclassed from accumulated other comprehensive loss to net earnings.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Schedule of Calculation for Basic and Diluted Earnings Per Share	The calculation of basic and diluted EPS for the periods ended June 30 is as follows: (in millions, except per share amounts) Three Months Six Months 2019 2018 2019 2018 Amounts attributable to S&P Global Inc. common shareholders: Net income $ 555 $ 461 $ 965 $ 951 Basic weighted-average number of common shares outstanding 246.1 251.1 246.4 251.7 Effect of stock options and other dilutive securities 1.3 2.2 1.5 2.1 Diluted weighted-average number of common shares outstanding 247.4 253.3 247.9 253.8 Earnings per share attributable to S&P Global Inc. common shareholders: Net income: Basic $ 2.25 $ 1.83 $ 3.92 $ 3.78 Diluted $ 2.24 $ 1.82 $ 3.89 $ 3.75

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Jun. 30, 2019
Restructuring and Related Activities [Abstract]
Schedule of Initial Restructuring Charge Recorded and the Ending Reserve Balance	The initial restructuring charge recorded and the ending reserve balance as of June 30, 2019 by segment is as follows: 2019 Restructuring Plan 2018 Restructuring Plan (in millions) Initial Charge Recorded Ending Reserve Balance Initial Charge Recorded Ending Reserve Balance Ratings $ 11 $ 11 $ 8 $ 1 Market Intelligence 1 1 7 4 Platts 1 1 — — Corporate 7 7 10 1 Total $ 20 $ 20 $ 25 $ 6

Segment and Related Informati_2

Segment and Related Information (Tables)	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Schedule of Operating Results by Segment	A summary of operating results for the periods ended June 30 is as follows: Revenue Three Months Six Months (in millions) 2019 2018 2019 2018 Ratings $ 801 $ 775 $ 1,497 $ 1,523 Market Intelligence 487 449 969 889 Platts 213 205 420 401 Indices 235 207 452 418 Corporate — 5 — 5 Intersegment elimination 1 (32 ) (32 ) (63 ) (60 ) Total revenue $ 1,704 $ 1,609 $ 3,275 $ 3,176 Operating Profit Three Months Six Months (in millions) 2019 2018 2019 2018 Ratings 2 $ 455 $ 369 $ 818 $ 777 Market Intelligence 3 147 127 292 238 Platts 4 107 98 201 188 Indices 5 162 137 311 285 Total reportable segments 871 731 1,622 1,488 Corporate Unallocated 6 (58 ) (59 ) (104 ) (105 ) Total operating profit $ 813 $ 672 $ 1,518 $ 1,383 Note - In the fourth quarter of 2018, Trucost was transferred from Indices to Market Intelligence and historical reporting was retroactively revised to reflect the change. 1 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. 2 Operating profit includes employee severance charges of $11 million for the three and six months ended June 30, 2019 . Operating profit includes legal settlement expenses of $73 million for the three and six months ended June 30, 2018. Operating profit also includes amortization of intangibles from acquisitions of $1 million for the three and six months ended June 30, 2019 and 2018 . 3 Operating profit includes employee severance charges of $1 million for the three and six months ended June 30, 2019 . Operating profit also includes amortization of intangibles from acquisitions of $19 million and $18 million for the three months ended June 30, 2019 and 2018 , respectively, and $37 million and $36 million for the six months ended June 30, 2019 and 2018 , respectively. 4 Operating profit includes employee severance charges of $1 million for the three and six months ended June 30, 2019 . Operating profit also includes amortization of intangibles from acquisitions of $3 million and $4 million for the three months ended June 30, 2019 and 2018 , respectively, and $7 million and $9 million for the six months ended June 30, 2019 and 2018 , respectively. 5 Operating profit for includes amortization of intangibles from acquisitions of $1 million for the three months ended June 30, 2019 and 2018 and $3 million for the six months ended June 30, 2019 and 2018 . 6 Operating loss includes Kensho retention related expenses of $5 million and $12 million for the three months ended June 30, 2019 and 2018, respectively, and $11 million and $12 million for the six months ended June 30, 2019 and 2018 , respectively. Operating loss includes employee severance charges of $7 million and a lease impairment of $5 million for the three and six months ended June 30, 2019 . Operating loss also includes amortization of intangibles from acquisitions of $7 million and $14 million for the three and six months months ended June 30, 2019 , respectively, and $8 million for the three and six months ended June 30, 2018
Schedule of Revenue Disaggregated by Type	The following table presents our revenue disaggregated by revenue type: (in millions) Ratings Market Intelligence Platts Indices Corporate Intersegment Elimination 1 Total Three Months Ended June 30, 2019 Subscription $ — $ 471 $ 195 $ 40 $ — $ — $ 706 Non-transaction 372 — — — — (32 ) 340 Non-subscription / Transaction 429 12 3 — — — 444 Asset-linked fees — 4 — 159 — — 163 Sales usage-based royalties — — 15 36 — — 51 Total revenue $ 801 $ 487 $ 213 $ 235 $ — $ (32 ) $ 1,704 Timing of revenue recognition Services transferred at a point in time $ 429 $ 12 $ 3 $ — $ — $ — $ 444 Services transferred over time 372 475 210 235 — (32 ) 1,260 Total revenue $ 801 $ 487 $ 213 $ 235 $ — $ (32 ) $ 1,704 Six Months Ended June 30, 2019 Subscription $ — $ 939 $ 386 $ 80 $ — $ 1,405 Non-transaction 737 — — — — (63 ) 674 Non-subscription / Transaction 760 21 5 — — — 786 Asset-linked fees — 9 — 302 — — 311 Sales usage-based royalties — — 29 70 — — 99 Total revenue $ 1,497 $ 969 $ 420 $ 452 $ — $ (63 ) $ 3,275 Timing of revenue recognition Services transferred at a point in time $ 760 $ 21 $ 5 $ — $ — $ — $ 786 Services transferred over time 737 948 415 452 — (63 ) 2,489 Total revenue $ 1,497 $ 969 $ 420 $ 452 $ — $ (63 ) $ 3,275 (in millions) Ratings Market Intelligence Platts Indices Corporate Intersegment Elimination 1 Total Three Months Ended June 30, 2018 Subscription $ — $ 431 $ 188 $ 34 $ 5 $ — $ 658 Non-transaction 378 — — — — (32 ) 346 Non-subscription / Transaction 397 13 4 — — — 414 Asset-linked fees — 5 — 135 — — 140 Sales usage-based royalties — — 13 38 — — 51 Total revenue $ 775 $ 449 $ 205 $ 207 $ 5 $ (32 ) $ 1,609 Timing of revenue recognition Services transferred at a point in time $ 397 $ 13 $ 4 $ — $ — $ — $ 414 Services transferred over time 378 436 201 207 5 (32 ) 1,195 Total revenue $ 775 $ 449 $ 205 $ 207 $ 5 $ (32 ) $ 1,609 Six Months Ended June 30, 2018 Subscription $ — $ 856 $ 369 $ 64 $ 5 $ — $ 1,294 Non-transaction 757 — — — — (60 ) 697 Non-subscription / Transaction 766 23 6 — — — 795 Asset-linked fees — 10 — 265 — — 275 Sales usage-based royalties — — 26 89 — — 115 Total revenue $ 1,523 $ 889 $ 401 $ 418 $ 5 $ (60 ) $ 3,176 Timing of revenue recognition Services transferred at a point in time $ 766 $ 23 $ 6 $ — $ — $ — $ 795 Services transferred over time 757 866 395 418 5 (60 ) 2,381 Total revenue $ 1,523 $ 889 $ 401 $ 418 $ 5 $ (60 ) $ 3,176 1 Intersegment eliminations primarily consists of a 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 periods ended June 30 : (in millions) Three Months Six Months 2019 2018 2019 2018 U.S. $ 1,023 $ 962 $ 1,966 $ 1,915 European region 415 402 788 782 Asia 177 158 346 314 Rest of the world 89 87 175 165 Total $ 1,704 $ 1,609 $ 3,275 $ 3,176

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Schedule of Location and Amounts of Leases	The following table provides information on the location and amounts of our leases on our consolidated balance sheet as of June 30, 2019 : (in millions) June 30, Balance Sheet Location 2019 Assets Right of use assets Lease right-of-use assets $ 669 Liabilities Other current liabilities Current lease liabilities 109 Lease liabilities — non-current Noncurrent lease liabilities 621
Schedule of Components of Lease Expense and Supplemental Cash Flow Information	The components of lease expense for the periods ended June 30 are as follows: (in millions) Three Months Six Months 2019 2019 Operating lease cost $ 41 $ 77 Sublease income (4 ) (8 ) Total lease cost $ 37 $ 69 Supplemental information related to leases for the periods ended June 30 are as follows: (in millions) Three Months Six Months 2019 2019 Cash paid for amounts included in the measurement for operating lease liabilities Operating cash flows from operating leases $ 36 $ 71 Right-of-use assets obtained in exchange for lease obligations Operating leases 23 737
Schedule of Lease Term and Discount Rate	Weighted-average remaining lease term and discount rate for our operating leases as of June 30 are as follows: 2019 Weighted-average remaining lease term (years) 9.5 Weighted-average discount rate 3.93 %
Schedule of Maturities of Operating Lease Liabilities	Maturities of lease liabilities for our operating leases are as follows: (in millions) 2019 (Excluding the six months ended June 30, 2019) $ 84 2020 122 2021 104 2022 89 2023 81 2024 and beyond 421 Total undiscounted lease payments $ 901 Less: Imputed interest 171 Present value of lease liabilities $ 730

Condensed Consolidating Finan_2

Condensed Consolidating Financial Statements (Tables)	6 Months Ended
	Jun. 30, 2019
Condensed Financial Information Disclosure [Abstract]
Schedule of Statement of Income	Statement of Income Three Months Ended June 30, 2019 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 208 $ 489 $ 1,047 $ (40 ) $ 1,704 Expenses: Operating-related expenses 46 110 336 (40 ) 452 Selling and general expenses 51 83 253 — 387 Depreciation 10 4 7 — 21 Amortization of intangibles — — 31 — 31 Total expenses 107 197 627 (40 ) 891 Operating profit 101 292 420 — 813 Other income, net (5 ) — (1 ) — (6 ) Interest expense (income), net 40 — (3 ) — 37 Non-operating intercompany transactions 95 (20 ) (1,234 ) 1,159 — Income before taxes on income (29 ) 312 1,658 (1,159 ) 782 (Benefit) provision for taxes on income (3 ) 89 94 — 180 Equity in net income of subsidiaries 1,741 — — (1,741 ) — Net income $ 1,715 $ 223 $ 1,564 $ (2,900 ) $ 602 Less: net income attributable to noncontrolling interests — — — (47 ) (47 ) Net income attributable to S&P Global Inc. $ 1,715 $ 223 $ 1,564 $ (2,947 ) $ 555 Comprehensive income $ 1,721 $ 223 $ 1,540 $ (2,900 ) $ 584 Statement of Income Six Months Ended June 30, 2019 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 409 $ 925 $ 2,018 $ (77 ) $ 3,275 Expenses: Operating-related expenses 85 228 662 (77 ) 898 Selling and general expenses 75 163 517 — 755 Depreciation 22 6 13 — 41 Amortization of intangibles — — 63 — 63 Total expenses 182 397 1,255 (77 ) 1,757 Operating profit 227 528 763 — 1,518 Other expense (income), net 102 — (5 ) — 97 Interest expense (income), net 77 — (4 ) — 73 Non-operating intercompany transactions 191 (37 ) (1,336 ) 1,182 — Income before taxes on income (143 ) 565 2,108 (1,182 ) 1,348 (Benefit) provision for taxes on income (43 ) 159 177 — 293 Equity in net income of subsidiaries 2,247 — — (2,247 ) — Net income $ 2,147 $ 406 $ 1,931 $ (3,429 ) $ 1,055 Less: net income attributable to noncontrolling interests — — — (90 ) (90 ) Net income attributable to S&P Global Inc. $ 2,147 $ 406 $ 1,931 $ (3,519 ) $ 965 Comprehensive income $ 2,235 $ 406 $ 1,935 $ (3,430 ) $ 1,146 Statement of Income Three Months Ended June 30, 2018 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 200 $ 463 $ 985 $ (39 ) $ 1,609 Expenses: Operating-related expenses 43 107 330 (39 ) 441 Selling and general expenses 69 57 318 — 444 Depreciation 11 2 6 — 19 Amortization of intangibles — — 33 — 33 Total expenses 123 166 687 (39 ) 937 Operating profit 77 297 298 — 672 Other income, net (6 ) — (5 ) — (11 ) Interest expense (income), net 28 — (2 ) — 26 Non-operating intercompany transactions 86 (22 ) (358 ) 294 — Income before taxes on income (31 ) 319 663 (294 ) 657 Provision for taxes on income 27 75 54 — 156 Equity in net income of subsidiaries 812 — — (812 ) — Net income $ 754 $ 244 $ 609 $ (1,106 ) $ 501 Less: net income attributable to noncontrolling interests — — — (40 ) (40 ) Net income attributable to S&P Global Inc. $ 754 $ 244 $ 609 $ (1,146 ) $ 461 Comprehensive income $ 764 $ 244 $ 521 $ (1,103 ) $ 426 Statement of Income Six Months Ended June 30, 2018 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 391 $ 897 $ 1,962 $ (74 ) $ 3,176 Expenses: Operating-related expenses 74 224 653 (74 ) 877 Selling and general expenses 108 143 568 — 819 Depreciation 20 4 16 — 40 Amortization of intangibles — — 57 — 57 Total expenses 202 371 1,294 (74 ) 1,793 Operating profit 189 526 668 — 1,383 Other income, net (14 ) — (2 ) — (16 ) Interest expense (income), net 66 1 (6 ) — 61 Non-operating intercompany transactions 186 (43 ) (1,454 ) 1,311 — Income before taxes on income (49 ) 568 2,130 (1,311 ) 1,338 Provision for taxes on income 13 146 144 — 303 Equity in net income of subsidiaries 2,324 — — (2,324 ) — Net income $ 2,262 $ 422 $ 1,986 $ (3,635 ) $ 1,035 Less: net income attributable to noncontrolling interests — — — (84 ) (84 ) Net income attributable to S&P Global Inc. $ 2,262 $ 422 $ 1,986 $ (3,719 ) $ 951 Comprehensive income $ 2,251 $ 421 $ 1,932 $ (3,635 ) $ 969
Schedule of Balance Sheet	Balance Sheet June 30, 2019 (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 $ 556 $ — $ 1,325 $ — $ 1,881 Restricted cash — — 39 — 39 Accounts receivable, net of allowance for doubtful accounts 269 195 1,079 — 1,543 Intercompany receivable 585 2,330 3,281 (6,196 ) — Prepaid and other current assets 45 — 186 — 231 Total current assets 1,455 2,525 5,910 (6,196 ) 3,694 Property and equipment, net of accumulated depreciation 205 — 75 — 280 Right of use assets 404 2 263 — 669 Goodwill 261 — 3,251 7 3,519 Other intangible assets, net — — 1,453 — 1,453 Investments in subsidiaries 10,631 6 8,008 (18,645 ) — Intercompany loans receivable 137 — 1,137 (1,274 ) — Other non-current assets 208 43 320 (1 ) 570 Total assets $ 13,301 $ 2,576 $ 20,417 $ (26,109 ) $ 10,185 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 100 $ 7 $ 107 $ — $ 214 Intercompany payable 5,107 55 1,034 (6,196 ) — Accrued compensation and contributions to retirement plans 108 27 134 — 269 Income taxes currently payable 18 — 70 — 88 Unearned revenue 268 259 1,182 — 1,709 Other current liabilities 187 20 212 — 419 Total current liabilities 5,788 368 2,739 (6,196 ) 2,699 Long-term debt 3,664 — — — 3,664 Lease liabilities — non-current 386 1 234 — 621 Intercompany loans payable 120 — 1,154 (1,274 ) — Pension and other postretirement benefits 162 — 68 — 230 Other non-current liabilities 131 76 304 — 511 Total liabilities 10,251 445 4,499 (7,470 ) 7,725 Redeemable noncontrolling interest — — — 1,890 1,890 Equity: Common stock 294 — 2,371 (2,371 ) 294 Additional paid-in capital 26 622 9,679 (9,537 ) 790 Retained income 14,569 1,509 4,353 (8,721 ) 11,710 Accumulated other comprehensive loss (209 ) — (485 ) 43 (651 ) Less: common stock in treasury (11,630 ) — (1 ) — (11,631 ) Total equity - controlling interests 3,050 2,131 15,917 (20,586 ) 512 Total equity - noncontrolling interests — — 1 57 58 Total equity 3,050 2,131 15,918 (20,529 ) 570 Total liabilities and equity $ 13,301 $ 2,576 $ 20,417 $ (26,109 ) $ 10,185 Balance Sheet December 31, 2018 (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 $ 694 $ — $ 1,223 $ — $ 1,917 Restricted cash — — 41 — 41 Accounts receivable, net of allowance for doubtful accounts 163 109 1,177 — 1,449 Intercompany receivable 550 2,138 2,873 (5,561 ) — Prepaid and other current assets 58 3 136 — 197 Total current assets 1,465 2,250 5,450 (5,561 ) 3,604 Property and equipment, net of accumulated depreciation 192 — 78 — 270 Right of use assets — — — — — Goodwill 261 — 3,265 9 3,535 Other intangible assets, net — — 1,524 — 1,524 Investments in subsidiaries 8,599 6 8,030 (16,635 ) — Intercompany loans receivable 130 — 1,643 (1,773 ) — Other non-current assets 194 45 286 — 525 Total assets $ 10,841 $ 2,301 $ 20,276 $ (23,960 ) $ 9,458 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 89 $ 15 $ 107 $ — $ 211 Intercompany payable 4,453 32 1,076 (5,561 ) — Accrued compensation and contributions to retirement plans 125 33 196 — 354 Income taxes currently payable 1 — 71 — 72 Unearned revenue 240 235 1,166 — 1,641 Other current liabilities 180 16 155 — 351 Total current liabilities 5,088 331 2,771 (5,561 ) 2,629 Long-term debt 3,662 — — — 3,662 Lease liabilities — non-current — — — — — Intercompany loans payable 114 — 1,659 (1,773 ) — Pension and other postretirement benefits 162 — 67 — 229 Other non-current liabilities 166 75 393 — 634 Total liabilities 9,192 406 4,890 (7,334 ) 7,154 Redeemable noncontrolling interest — — — 1,620 1,620 Equity: Common stock 294 — 2,279 (2,279 ) 294 Additional paid-in capital 72 618 9,784 (9,641 ) 833 Retained income 12,622 1,277 3,824 (6,439 ) 11,284 Accumulated other comprehensive loss (299 ) — (489 ) 46 (742 ) Less: common stock in treasury (11,040 ) — (13 ) 12 (11,041 ) Total equity - controlling interests 1,649 1,895 15,385 (18,301 ) 628 Total equity - noncontrolling interests — — 1 55 56 Total equity 1,649 1,895 15,386 (18,246 ) 684 Total liabilities and equity $ 10,841 $ 2,301 $ 20,276 $ (23,960 ) $ 9,458
Schedule of Statement of Cash Flows	Statement of Cash Flows Six Months Ended June 30, 2019 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Operating Activities: Net income $ 2,147 $ 406 $ 1,931 $ (3,429 ) $ 1,055 Adjustments to reconcile net income to cash provided by operating activities: Depreciation 22 6 13 — 41 Amortization of intangibles — — 63 — 63 Provision for losses on accounts receivable 3 3 6 — 12 Deferred income taxes 4 1 7 — 12 Stock-based compensation 9 4 20 — 33 Pension settlement charge, net of taxes 85 — — — 85 Other 8 7 23 — 38 Changes in operating assets and liabilities, net of effect of acquisitions: Accounts receivable (109 ) (88 ) 102 — (95 ) Prepaid and other current assets (1 ) 2 (43 ) — (42 ) Accounts payable and accrued expenses 1 (13 ) (62 ) — (74 ) Unearned revenue 28 27 (55 ) — — Accrued legal settlements — (1 ) — — (1 ) Other current liabilities (57 ) (3 ) (23 ) — (83 ) Net change in prepaid/accrued income taxes 33 — — — 33 Net change in other assets and liabilities (26 ) (4 ) (37 ) (67 ) Cash provided by operating activities 2,147 347 1,945 (3,429 ) 1,010 Investing Activities: Capital expenditures (25 ) (3 ) (18 ) — (46 ) Acquisitions, net of cash acquired — — (4 ) — (4 ) Changes in short-term investments — — (3 ) — (3 ) Cash used for investing activities (25 ) (3 ) (25 ) — (53 ) Financing Activities: Dividends paid to shareholders (281 ) — — — (281 ) Distributions to noncontrolling interest holders, net — — (59 ) — (59 ) Repurchase of treasury shares (644 ) — — — (644 ) Exercise of stock options 29 — 2 — 31 Employee withholding tax on share-based payments and other (53 ) — (2 ) — (55 ) Intercompany financing activities (1,311 ) (344 ) (1,774 ) 3,429 — Cash used for financing activities (2,260 ) (344 ) (1,833 ) 3,429 (1,008 ) Effect of exchange rate changes on cash — — 13 — 13 Net change in cash, cash equivalents, and restricted cash (138 ) — 100 — (38 ) Cash, cash equivalents, and restricted cash at beginning of period 694 — 1,264 — 1,958 Cash, cash equivalents, and restricted cash at end of period $ 556 $ — $ 1,364 $ — $ 1,920 Statement of Cash Flows Six Months Ended June 30, 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 $ 2,262 $ 422 $ 1,986 $ (3,635 ) $ 1,035 Adjustments to reconcile net income to cash provided by operating activities: Depreciation 20 4 16 — 40 Amortization of intangibles — — 57 — 57 Provision for losses on accounts receivable — 1 9 — 10 Deferred income taxes (86 ) — 108 22 Stock-based compensation 14 8 24 — 46 Other 19 — 61 — 80 Changes in operating assets and liabilities, net of effect of acquisitions: Accounts receivable (6 ) (29 ) 54 — 19 Prepaid and other current assets (20 ) 1 — — (19 ) Accounts payable and accrued expenses (48 ) (68 ) (101 ) — (217 ) Unearned revenue 9 30 2 — 41 Accrued legal settlements — (29 ) — (29 ) Other current liabilities 20 (4 ) (85 ) — (69 ) Net change in prepaid/accrued income taxes 24 1 (1 ) — 24 Net change in other assets and liabilities (27 ) 2 (112 ) — (137 ) Cash provided by operating activities 2,181 368 1,989 (3,635 ) 903 Investing Activities: Capital expenditures (43 ) (10 ) (7 ) — (60 ) Acquisitions, net of cash acquired — — (246 ) — (246 ) Changes in short-term investments — — 1 — 1 Cash used for investing activities (43 ) (10 ) (252 ) — (305 ) Financing Activities: Proceeds from issuance of senior notes, net 489 — — — 489 Payments on senior notes (403 ) — — — (403 ) Dividends paid to shareholders (253 ) — — — (253 ) Distributions to noncontrolling interest holders, net — — (78 ) — (78 ) Purchase of CRISIL shares — — (25 ) — (25 ) Repurchase of treasury shares (1,100 ) — — — (1,100 ) Exercise of stock options 14 — 2 — 16 Employee withholding tax on share-based payments and other (50 ) — — — (50 ) Intercompany financing activities (701 ) (358 ) (2,576 ) 3,635 — Cash used for financing activities (2,004 ) (358 ) (2,677 ) 3,635 (1,404 ) Effect of exchange rate changes on cash 1 — (39 ) — (38 ) Net change in cash, cash equivalents, and restricted cash 135 — (979 ) — (844 ) Cash, cash equivalents, and restricted cash at beginning of period 632 — 2,147 — 2,779 Cash, cash equivalents, and restricted cash at end of period $ 767 $ — $ 1,168 $ — $ 1,935

Nature of Operations and Basi_4

Nature of Operations and Basis of Presentation - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2019USD ($)Segment	Dec. 31, 2018USD ($)	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Number of reportable segments | Segment	4
Restricted cash	$ 39	$ 41
Contract asset	47	26
Revenue expected to be recognized as of period end	1,500
Amortization period of capitalized contract cost			5 years
Accounting Standards Update 2014-09 | Difference between Revenue Guidance in Effect before and after Topic 606
Disaggregation of Revenue [Line Items]
Unearned revenue	1,200
Capitalized contract costs	$ 96	$ 101

Nature of Operations and Basi_5

Nature of Operations and Basis of Presentation - Components of Other (Income) Expense, Net (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other (income) expense, net	$ (6)		$ (11)	$ 97	$ (16)
Non-cash pre-tax settlement charge		$ 113
Accounting Standards Update 2017-07
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other components of net periodic benefit cost	(7)		(8)	96	(16)
Net loss (gain) from investments	1		(3)	1	0
Other (income) expense, net	$ (6)		$ (11)	$ 97	$ (16)

Nature of Operations and Basi_6

Nature of Operations and Basis of Presentation - Performance Obligation (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01	Jun. 30, 2019
Twelve Months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation (as a percent)	50.00%
Expected timing of satisfaction of remaining performance obligation	1 year
Twenty-Four Months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation (as a percent)	75.00%
Expected timing of satisfaction of remaining performance obligation	2 years

Acquisitions and Divestitures -

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

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Operating Profit of Business Held-for-Sale (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
SPIAS | Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Operating profit	$ 3	$ 3	$ 6	$ 6

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	23.00%	23.80%	21.70%	22.70%
Unrecognized tax benefits	$ 114		$ 114		$ 147
Accrued interest and penalties associated with unrecognized tax benefits	20		20		$ 35
Reduction of unrecognized tax benefits is reasonably possible	$ 5		$ 5

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	Jun. 30, 2017	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Long-term debt, fair value		$ 4,100,000,000	$ 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		0.10%
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 - Summary (Details)

Debt - Summary (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018	May 17, 2018	Sep. 22, 2016	May 26, 2015
Debt Instrument [Line Items]
Long-term debt	$ 3,664	$ 3,662
Senior Notes | 3.3% Senior Notes, due 2020
Debt Instrument [Line Items]
Long-term debt	$ 699	698
Stated interest rate (as a percent)	3.30%
Unamortized debt discount and issuance costs	$ 1
Senior Notes | 4.0% Senior Notes, due 2025
Debt Instrument [Line Items]
Long-term debt	$ 693	693
Stated interest rate (as a percent)	4.00%				4.00%
Unamortized debt discount and issuance costs	$ 7
Senior Notes | 4.4% Senior Notes, due 2026
Debt Instrument [Line Items]
Long-term debt	$ 893	892
Stated interest rate (as a percent)	4.40%
Unamortized debt discount and issuance costs	$ 7
Senior Notes | 2.95% Senior Notes, due 2027
Debt Instrument [Line Items]
Long-term debt	$ 493	493
Stated interest rate (as a percent)	2.95%			2.95%
Unamortized debt discount and issuance costs	$ 7
Senior Notes | 6.55% Senior Notes, due 2037
Debt Instrument [Line Items]
Long-term debt	$ 396	396
Stated interest rate (as a percent)	6.55%
Unamortized debt discount and issuance costs	$ 4
Senior Notes | 4.5% Senior Notes, due 2048
Debt Instrument [Line Items]
Long-term debt	$ 490	$ 490
Stated interest rate (as a percent)	4.50%		4.50%
Unamortized debt discount and issuance costs	$ 10

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details)	3 Months Ended	6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2019USD ($)
Derivative [Line Items]
Material hedge ineffectiveness	$ 0	$ 0
Fair Value Hedging | Not Designated as Hedging Instrument | Foreign exchange forward contracts
Derivative [Line Items]
Aggregate notional value	68,000,000	68,000,000
Net gain (loss) on derivative	3,000,000	5,000,000
Cash Flow Hedging | Designated as Hedging Instrument | Foreign exchange forward contracts
Derivative [Line Items]
Aggregate notional value	229,000,000	$ 229,000,000
Maturity of derivatives		12 months
Net gains (losses) related to derivatives recorded in other comprehensive income (loss) expected to be reclassified into earnings		$ (4,000,000)
Prepaid and other current assets | Fair Value Hedging | Not Designated as Hedging Instrument | Foreign exchange forward contracts
Derivative [Line Items]
Aggregate notional value	$ 2,000,000	$ 2,000,000

Derivative Instruments - Locati

Derivative Instruments - Location and Fair Values of Cash Flow Hedges (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Cash Flow Hedging | Foreign exchange forward contracts | Designated as Hedging Instrument | Prepaid and other current assets
Derivatives, Fair Value [Line Items]
Derivative, fair value	$ 4	$ 3

Derivative Instruments - Loca_2

Derivative Instruments - Location and Amounts of Pre-Tax Gains (Losses) on Cash Flow Hedges (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion)	$ (3)		$ 0
Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion)		$ (5)		$ (4)
Foreign exchange forward contracts | Designated as Hedging Instrument | Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion)	(3)		0
Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion)		(4)		(3)
Foreign exchange forward contracts | Revenue, Selling and general expenses | Designated as Hedging Instrument | Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (effective portion)	$ 1		$ 4
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		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Net unrealized gains on cash flow hedges, net of taxes, beginning of period			$ 628
Change in fair value, net of tax		$ (4)		$ (3)
Net unrealized gains (losses) on cash flow hedges, net of taxes, end of period	$ 512		512
Unrealized Gain (Loss) on Foreign 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	7	3	4	2
Change in fair value, net of tax	(2)	(5)	4	(4)
Reclassification into earnings, net of tax	(1)	1	(4)	1
Net unrealized gains (losses) on cash flow hedges, net of taxes, end of period	$ 4	$ (1)	$ 4	$ (1)

Employee Benefits - Narrative (

Employee Benefits - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2019USD ($)
Retirement Benefits [Abstract]
Contribution towards retirement plans	$ 41
Expected contributions towards retirement plans, remainder of the year	$ 5

Employee Benefits - Components

Employee Benefits - Components of Net Periodic Benefit Cost (Credit) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Retirement Benefits [Abstract]
Service cost	$ 1	$ 1	$ 1	$ 1
Interest cost	14	18	33	36
Expected return on assets	(23)	(31)	(54)	(63)
Amortization of prior service credit / actuarial loss	2	4	4	9
Net periodic benefit cost	(6)	(8)	(16)	(17)
Settlement charge	0	0	113	0
Net benefit cost	$ (6)	$ (8)	$ 97	$ (17)

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2019USD ($)$ / sharesshares
Employee stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 1
Unrecognized compensation expense, period for recognition	1 year
Restricted stock and unit awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock and unit awards granted in period (shares) | shares	0.3
Weighted-average grant fate fair value of restricted stock and unit awards granted in period (USD per share) | $ / shares	$ 212.56
Unrecognized compensation expense	$ 98
Unrecognized compensation expense, period for recognition	2 years

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 22	$ 34	$ 33	$ 46
Employee stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	1	2	1	2
Restricted stock and unit awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 21	$ 32	$ 32	$ 44

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($)

Jul. 31, 2019

Feb. 11, 2019

Jan. 02, 2019

Oct. 29, 2018

Sep. 25, 2018

Mar. 06, 2018

Jan. 02, 2019

Jun. 30, 2019

Jun. 30, 2018

Jun. 30, 2019

Jun. 30, 2018

Dec. 04, 2013

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Total number of shares purchased

0

0

3,400,000

5,000,000

Average price paid per share (USD per share)

$ 0

$ 0

$ 184.51

$ 178.11

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)

7,200,000

7,200,000

S&P Dow Jones LLC

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Noncontrolling interest ownership by noncontrolling owners (as a percent)

27.00%

27.00%

Accelerated Share Repurchases, February 2019

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Authorized stock repurchase program amount

$ 500,000,000

Payments for accelerated share repurchases

$ 500,000,000

Accelerated Share Repurchases, February 2019 | Subsequent Event

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Authorized stock repurchase program amount

$ 500,000,000

Accelerated Share Repurchases, October 2018

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Authorized stock repurchase program amount

$ 500,000,000

Payments for accelerated share repurchases

$ 500,000,000

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, February 2019

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Total number of shares purchased

2,200,000

Accelerated share repurchases initial delivery percentage (as a percent)

85.00%

Initial Award | Accelerated Share Repurchases, October 2018

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Total number of shares purchased

2,500,000

Accelerated share repurchases initial delivery percentage (as a percent)

85.00%

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%

Additional Award | Accelerated Share Repurchases, February 2019 | Subsequent Event

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Total number of shares purchased

100,000

Additional Award | Accelerated Share Repurchases, October 2018

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Total number of shares purchased

400,000

Additional Award | Accelerated Share Repurchases, March 2018

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Total number of shares purchased

600,000

Completed Award | Accelerated Share Repurchases, February 2019 | Subsequent Event

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Total number of shares purchased

2,300,000

Average price paid per share (USD per share)

$ 214.65

Completed Award | Accelerated Share Repurchases, October 2018

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Total number of shares purchased

2,900,000

Average price paid per share (USD per share)

$ 173.80

Completed Award | Accelerated Share Repurchases, March 2018

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Total number of shares purchased

5,100,000

Average price paid per share (USD per share)

$ 197.49

Equity - Share Repurchases (Det

Equity - Share Repurchases (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares purchased	0	0	3.4	5
Average price paid per share (USD per share)	$ 0	$ 0	$ 184.51	$ 178.11
Total cash utilized			$ 644	$ 1,100
Total SPGI Equity
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total cash utilized	$ 0	$ 0	$ 644	$ 1,100

Equity - Changes to Redeemable

Equity - Changes to Redeemable Noncontrolling Interest (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Increase (Decrease) in Temporary Equity [Roll Forward]
Balance at beginning of period			$ 1,620
Net income attributable to noncontrolling interest	$ 44	$ 36	84	$ 76
Capital contribution from noncontrolling interest			36
Distributions payable to noncontrolling interest			(72)
Redemption value adjustment			222
Balance at end of period	$ 1,890		$ 1,890

Equity - Accumulated Other Comp

Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	$ 388	$ 65	$ 684	$ 768
Balance at end of period	570	633	570	633
Pension and other postretirement benefit plans, tax (less than)	0	(4)	28	(3)
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(633)	(630)	(742)	(649)
Other comprehensive income before reclassifications			6
Reclassifications from accumulated other comprehensive loss to net earnings			85
Net other comprehensive income			91
Balance at end of period	(651)	$ (705)	(651)	$ (705)
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period			(339)
Other comprehensive income before reclassifications			5
Reclassifications from accumulated other comprehensive loss to net earnings			0
Net other comprehensive income			5
Balance at end of period	(334)		(334)
Pension and Postretirement Benefit Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period			(407)
Other comprehensive income before reclassifications			(3)
Reclassifications from accumulated other comprehensive loss to net earnings			89
Net other comprehensive income			86
Balance at end of period	(321)		(321)
Pension and other postretirement benefit plans, tax (less than)			28
Unrealized Gain (Loss) on Foreign Forward Exchange Contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period			4
Other comprehensive income before reclassifications			4
Reclassifications from accumulated other comprehensive loss to net earnings			(4)
Net other comprehensive income			0
Balance at end of period	$ 4		$ 4

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
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	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	800,000

Earnings Per Share - Summary (D

Earnings Per Share - Summary (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Amounts attributable to S&P Global Inc. common shareholders:
Net income	$ 555	$ 461	$ 965	$ 951
Basic weighted-average number of common shares outstanding (shares)	246.1	251.1	246.4	251.7
Effect of stock options and other dilutive securities (shares)	1.3	2.2	1.5	2.1
Diluted weighted-average number of common shares outstanding (shares)	247.4	253.3	247.9	253.8
Earnings per share attributable to S&P Global Inc. common shareholders:
Basic (USD per share)	$ 2.25	$ 1.83	$ 3.92	$ 3.78
Diluted (USD per share)	$ 2.24	$ 1.82	$ 3.89	$ 3.75

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2019USD ($)position	Dec. 31, 2018USD ($)
2019 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Workforce reduction | position	170
Restructuring reserve balance	$ 20
Restructuring charges paid	$ 20
2018 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Workforce reduction | position	160
Restructuring reserve balance	$ 6	$ 24
Restructuring charges paid	$ 18

Restructuring - Summary (Detail

Restructuring - Summary (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
2019 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded		$ 20
Ending Reserve Balance	$ 20	20
2018 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded		25
Ending Reserve Balance	6	6	$ 24
Operating Segments | Ratings
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	11	11
Operating Segments | Market Intelligence
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	1	1
Operating Segments | Platts
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	1	1
Operating Segments | 2019 Restructuring Plan | Ratings
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded		11
Ending Reserve Balance	11	11
Operating Segments | 2019 Restructuring Plan | Market Intelligence
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded		1
Ending Reserve Balance	1	1
Operating Segments | 2019 Restructuring Plan | Platts
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded		1
Ending Reserve Balance	1	1
Operating Segments | 2018 Restructuring Plan | Ratings
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded		8
Ending Reserve Balance	1	1
Operating Segments | 2018 Restructuring Plan | Market Intelligence
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded		7
Ending Reserve Balance	4	4
Operating Segments | 2018 Restructuring Plan | Platts
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded		0
Ending Reserve Balance	0	0
Corporate
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	7	7
Corporate | 2019 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded		7
Ending Reserve Balance	7	7
Corporate | 2018 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded		10
Ending Reserve Balance	$ 1	$ 1

Segment and Related Informati_3

Segment and Related Information - Narrative (Details)	6 Months Ended
	Jun. 30, 2019Segment
Segment Reporting [Abstract]
Number of reportable segments	4

Segment and Related Informati_4

Segment and Related Information - Operating Results by Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Revenue	$ 1,704	$ 1,609	$ 3,275	$ 3,176
Operating Profit	813	672	1,518	1,383
Amortization of intangibles from acquisitions	31	33	63	57
Operating Segments
Segment Reporting Information [Line Items]
Operating Profit	871	731	1,622	1,488
Operating Segments | Ratings
Segment Reporting Information [Line Items]
Revenue	801	775	1,497	1,523
Operating Profit	455	369	818	777
Employee severance charges	11		11
Legal settlement expense		73		73
Amortization of intangibles from acquisitions	1	1	1	1
Operating Segments | Market Intelligence
Segment Reporting Information [Line Items]
Revenue	487	449	969	889
Operating Profit	147	127	292	238
Employee severance charges	1		1
Amortization of intangibles from acquisitions	19	18	37	36
Operating Segments | Platts
Segment Reporting Information [Line Items]
Revenue	213	205	420	401
Operating Profit	107	98	201	188
Employee severance charges	1		1
Amortization of intangibles from acquisitions	3	4	7	9
Operating Segments | Indices
Segment Reporting Information [Line Items]
Revenue	235	207	452	418
Operating Profit	162	137	311	285
Amortization of intangibles from acquisitions	1	1	3	3
Corporate
Segment Reporting Information [Line Items]
Revenue	0	5	0	5
Operating Profit	(58)	(59)	(104)	(105)
Employee severance charges	7		7
Operating Lease, Impairment Loss	5		5
Amortization of intangibles from acquisitions	7	8	14	8
Retention related expenses	5	12	11	12
Intersegment Elimination
Segment Reporting Information [Line Items]
Revenue	$ (32)	$ (32)	$ (63)	$ (60)

Segment and Related Informati_5

Segment and Related Information - Revenue Disaggregated by Type (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Total revenue	$ 1,704	$ 1,609	$ 3,275	$ 3,176
Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	444	414	786	795
Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	1,260	1,195	2,489	2,381
Subscription
Disaggregation of Revenue [Line Items]
Total revenue	706	658	1,405	1,294
Non-transaction
Disaggregation of Revenue [Line Items]
Total revenue	340	346	674	697
Non-subscription / Transaction
Disaggregation of Revenue [Line Items]
Total revenue	444	414	786	795
Asset-linked fees
Disaggregation of Revenue [Line Items]
Total revenue	163	140	311	275
Sales usage-based royalties
Disaggregation of Revenue [Line Items]
Total revenue	51	51	99	115
Operating Segments | Ratings
Disaggregation of Revenue [Line Items]
Total revenue	801	775	1,497	1,523
Operating Segments | Ratings | Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	429	397	760	766
Operating Segments | Ratings | Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	372	378	737	757
Operating Segments | Ratings | Subscription
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Operating Segments | Ratings | Non-transaction
Disaggregation of Revenue [Line Items]
Total revenue	372	378	737	757
Operating Segments | Ratings | Non-subscription / Transaction
Disaggregation of Revenue [Line Items]
Total revenue	429	397	760	766
Operating Segments | Ratings | Asset-linked fees
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Operating Segments | Ratings | Sales usage-based royalties
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Operating Segments | Market Intelligence
Disaggregation of Revenue [Line Items]
Total revenue	487	449	969	889
Operating Segments | Market Intelligence | Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	12	13	21	23
Operating Segments | Market Intelligence | Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	475	436	948	866
Operating Segments | Market Intelligence | Subscription
Disaggregation of Revenue [Line Items]
Total revenue	471	431	939	856
Operating Segments | Market Intelligence | Non-transaction
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Operating Segments | Market Intelligence | Non-subscription / Transaction
Disaggregation of Revenue [Line Items]
Total revenue	12	13	21	23
Operating Segments | Market Intelligence | Asset-linked fees
Disaggregation of Revenue [Line Items]
Total revenue	4	5	9	10
Operating Segments | Market Intelligence | Sales usage-based royalties
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Operating Segments | Platts
Disaggregation of Revenue [Line Items]
Total revenue	213	205	420	401
Operating Segments | Platts | Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	3	4	5	6
Operating Segments | Platts | Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	210	201	415	395
Operating Segments | Platts | Subscription
Disaggregation of Revenue [Line Items]
Total revenue	195	188	386	369
Operating Segments | Platts | Non-transaction
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Operating Segments | Platts | Non-subscription / Transaction
Disaggregation of Revenue [Line Items]
Total revenue	3	4	5	6
Operating Segments | Platts | Asset-linked fees
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Operating Segments | Platts | Sales usage-based royalties
Disaggregation of Revenue [Line Items]
Total revenue	15	13	29	26
Operating Segments | Indices
Disaggregation of Revenue [Line Items]
Total revenue	235	207	452	418
Operating Segments | Indices | Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Operating Segments | Indices | Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	235	207	452	418
Operating Segments | Indices | Subscription
Disaggregation of Revenue [Line Items]
Total revenue	40	34	80	64
Operating Segments | Indices | Non-transaction
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Operating Segments | Indices | Non-subscription / Transaction
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Operating Segments | Indices | Asset-linked fees
Disaggregation of Revenue [Line Items]
Total revenue	159	135	302	265
Operating Segments | Indices | Sales usage-based royalties
Disaggregation of Revenue [Line Items]
Total revenue	36	38	70	89
Corporate
Disaggregation of Revenue [Line Items]
Total revenue	0	5	0	5
Corporate | Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Corporate | Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	0	5	0	5
Corporate | Subscription
Disaggregation of Revenue [Line Items]
Total revenue	0	5		5
Corporate | Non-transaction
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Corporate | Non-subscription / Transaction
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Corporate | Asset-linked fees
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Corporate | Sales usage-based royalties
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Intersegment Elimination
Disaggregation of Revenue [Line Items]
Total revenue	(32)	(32)	(63)	(60)
Intersegment Elimination | Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Intersegment Elimination | Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	(32)	(32)	(63)	(60)
Intersegment Elimination | Subscription
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Intersegment Elimination | Non-transaction
Disaggregation of Revenue [Line Items]
Total revenue	(32)	(32)	(63)	(60)
Intersegment Elimination | Non-subscription / Transaction
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Intersegment Elimination | Asset-linked fees
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Intersegment Elimination | Sales usage-based royalties
Disaggregation of Revenue [Line Items]
Total revenue	$ 0	$ 0	$ 0	$ 0

Segment and Related Informati_6

Segment and Related Information - Revenue by Geographic Region (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 1,704	$ 1,609	$ 3,275	$ 3,176
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	1,023	962	1,966	1,915
European region
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	415	402	788	782
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	177	158	346	314
Rest of the world
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 89	$ 87	$ 175	$ 165

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Loss Contingencies [Line Items]
Period of lease extension options		12 years		12 years
Period of options to terminate lease				1 year
Contribution to noncontrolling interest				$ 59	$ 78
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		$ 30	$ 24	$ 59	$ 55
Noncontrolling interest ownership by noncontrolling owners (as a percent)		27.00%		27.00%
Minimum
Loss Contingencies [Line Items]
Remaining lease terms				1 year
Maximum
Loss Contingencies [Line Items]
Remaining lease terms				14 years

Commitments and Contingencies_2

Commitments and Contingencies - Location and Amounts of Leases (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Assets
Lease right-of-use assets	$ 669	$ 0
Liabilities
Current lease liabilities	109
Noncurrent lease liabilities	$ 621	$ 0

Commitments and Contingencies_3

Commitments and Contingencies - Components of Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost	$ 41	$ 77
Sublease income	(4)	(8)
Total lease cost	$ 37	$ 69

Commitments and Contingencies_4

Commitments and Contingencies - Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Cash paid for amounts included in the measurement for operating lease liabilities
Operating cash flows from operating leases	$ 36	$ 71
Right-of-use assets obtained in exchange for lease obligations
Operating leases	$ 23	$ 737

Commitments and Contingencies_5

Commitments and Contingencies - Lease Term and Discount Rate (Details)	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Weighted-average remaining lease term (years)	9 years 6 months
Weighted-average discount rate (as a percent)	3.93%

Commitments and Contingencies_6

Commitments and Contingencies - Maturities of Lease Liabilities (Details) $ in Millions	Jun. 30, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
2019 (Excluding the six months ended June 30, 2019)	$ 84
2020	122
2021	104
2022	89
2023	81
2024 and beyond	421
Total undiscounted lease payments	901
Less: Imputed interest	171
Present value of lease liabilities	$ 730

Condensed Consolidating Finan_3

Condensed Consolidating Financial Statements - Narrative (Details) - USD ($)	Jun. 30, 2019	May 17, 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 | 4.5% Senior Notes, due 2048
Condensed Financial Statements, Captions [Line Items]
Debt issued		$ 500,000,000
Stated interest rate (as a percent)	4.50%	4.50%
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 Finan_4

Condensed Consolidating Financial Statements - Statement of Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Condensed Income Statements, Captions [Line Items]
Revenue	$ 1,704	$ 1,609	$ 3,275	$ 3,176
Expenses:
Operating-related expenses	452	441	898	877
Selling and general expenses	387	444	755	819
Depreciation	21	19	41	40
Amortization of intangibles	31	33	63	57
Total expenses	891	937	1,757	1,793
Operating profit	813	672	1,518	1,383
Other expense (income), net	(6)	(11)	97	(16)
Interest expense (income), net	37	26	73	61
Non-operating intercompany transactions	0	0	0	0
Income before taxes on income	782	657	1,348	1,338
(Benefit) provision for taxes on income	180	156	293	303
Equity in net income of subsidiaries	0	0	0	0
Net income	602	501	1,055	1,035
Less: net income attributable to noncontrolling interests	(47)	(40)	(90)	(84)
Net income attributable to S&P Global Inc.	555	461	965	951
Comprehensive income	584	426	1,146	969
Eliminations
Condensed Income Statements, Captions [Line Items]
Revenue	(40)	(39)	(77)	(74)
Expenses:
Operating-related expenses	(40)	(39)	(77)	(74)
Selling and general expenses	0	0	0	0
Depreciation	0	0	0	0
Amortization of intangibles	0	0	0	0
Total expenses	(40)	(39)	(77)	(74)
Operating profit	0	0	0	0
Other expense (income), net	0	0	0	0
Interest expense (income), net	0	0	0	0
Non-operating intercompany transactions	1,159	294	1,182	1,311
Income before taxes on income	(1,159)	(294)	(1,182)	(1,311)
(Benefit) provision for taxes on income	0	0	0	0
Equity in net income of subsidiaries	(1,741)	(812)	(2,247)	(2,324)
Net income	(2,900)	(1,106)	(3,429)	(3,635)
Less: net income attributable to noncontrolling interests	(47)	(40)	(90)	(84)
Net income attributable to S&P Global Inc.	(2,947)	(1,146)	(3,519)	(3,719)
Comprehensive income	(2,900)	(1,103)	(3,430)	(3,635)
S&P Global Inc. | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenue	208	200	409	391
Expenses:
Operating-related expenses	46	43	85	74
Selling and general expenses	51	69	75	108
Depreciation	10	11	22	20
Amortization of intangibles	0	0	0	0
Total expenses	107	123	182	202
Operating profit	101	77	227	189
Other expense (income), net	(5)	(6)	102	(14)
Interest expense (income), net	40	28	77	66
Non-operating intercompany transactions	95	86	191	186
Income before taxes on income	(29)	(31)	(143)	(49)
(Benefit) provision for taxes on income	(3)	27	(43)	13
Equity in net income of subsidiaries	1,741	812	2,247	2,324
Net income	1,715	754	2,147	2,262
Less: net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to S&P Global Inc.	1,715	754	2,147	2,262
Comprehensive income	1,721	764	2,235	2,251
Standard & Poor's Financial Services LLC | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenue	489	463	925	897
Expenses:
Operating-related expenses	110	107	228	224
Selling and general expenses	83	57	163	143
Depreciation	4	2	6	4
Amortization of intangibles	0	0	0	0
Total expenses	197	166	397	371
Operating profit	292	297	528	526
Other expense (income), net	0	0	0	0
Interest expense (income), net	0	0	0	1
Non-operating intercompany transactions	(20)	(22)	(37)	(43)
Income before taxes on income	312	319	565	568
(Benefit) provision for taxes on income	89	75	159	146
Equity in net income of subsidiaries	0	0	0	0
Net income	223	244	406	422
Less: net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to S&P Global Inc.	223	244	406	422
Comprehensive income	223	244	406	421
Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenue	1,047	985	2,018	1,962
Expenses:
Operating-related expenses	336	330	662	653
Selling and general expenses	253	318	517	568
Depreciation	7	6	13	16
Amortization of intangibles	31	33	63	57
Total expenses	627	687	1,255	1,294
Operating profit	420	298	763	668
Other expense (income), net	(1)	(5)	(5)	(2)
Interest expense (income), net	(3)	(2)	(4)	(6)
Non-operating intercompany transactions	(1,234)	(358)	(1,336)	(1,454)
Income before taxes on income	1,658	663	2,108	2,130
(Benefit) provision for taxes on income	94	54	177	144
Equity in net income of subsidiaries	0	0	0	0
Net income	1,564	609	1,931	1,986
Less: net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to S&P Global Inc.	1,564	609	1,931	1,986
Comprehensive income	$ 1,540	$ 521	$ 1,935	$ 1,932

Condensed Consolidating Finan_5

Condensed Consolidating Financial Statements - Balance Sheet (Details) - USD ($) $ in Millions	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 1,881		$ 1,917
Restricted cash	39		41
Accounts receivable, net of allowance for doubtful accounts	1,543		1,449
Intercompany receivable	0		0
Prepaid and other current assets	231		197
Total current assets	3,694		3,604
Property and equipment, net of accumulated depreciation	280		270
Right of use assets	669		0
Goodwill	3,519		3,535
Other intangible assets, net	1,453		1,524
Investments in subsidiaries	0		0
Intercompany loans receivable	0		0
Other non-current assets	570		525
Total assets	10,185		9,458
Current liabilities:
Accounts payable	214		211
Intercompany payable	0		0
Accrued compensation and contributions to retirement plans	269		354
Income taxes currently payable	88		72
Unearned revenue	1,709		1,641
Other current liabilities	419		351
Total current liabilities	2,699		2,629
Long-term debt	3,664		3,662
Lease liabilities — non-current	621		0
Intercompany loans payable	0		0
Pension and other postretirement benefits	230		229
Other non-current liabilities	511		634
Total liabilities	7,725		7,154
Redeemable noncontrolling interest	1,890		1,620
Equity:
Common stock	294		294
Additional paid-in capital	790		833
Retained income	11,710		11,284
Accumulated other comprehensive loss	(651)		(742)
Less: common stock in treasury	(11,631)		(11,041)
Total equity — controlling interests	512		628
Total equity - noncontrolling interests	58		56
Total equity	570	$ 388	684	$ 633	$ 65	$ 768
Total liabilities and equity	10,185		9,458
Eliminations
Current assets:
Cash and cash equivalents	0		0
Restricted cash	0		0
Accounts receivable, net of allowance for doubtful accounts	0		0
Intercompany receivable	(6,196)		(5,561)
Prepaid and other current assets	0		0
Total current assets	(6,196)		(5,561)
Property and equipment, net of accumulated depreciation	0		0
Right of use assets	0		0
Goodwill	7		9
Other intangible assets, net	0		0
Investments in subsidiaries	(18,645)		(16,635)
Intercompany loans receivable	(1,274)		(1,773)
Other non-current assets	(1)		0
Total assets	(26,109)		(23,960)
Current liabilities:
Accounts payable	0		0
Intercompany payable	(6,196)		(5,561)
Accrued compensation and contributions to retirement plans	0		0
Income taxes currently payable	0		0
Unearned revenue	0		0
Other current liabilities	0		0
Total current liabilities	(6,196)		(5,561)
Long-term debt	0		0
Lease liabilities — non-current	0		0
Intercompany loans payable	(1,274)		(1,773)
Pension and other postretirement benefits	0		0
Other non-current liabilities	0		0
Total liabilities	(7,470)		(7,334)
Redeemable noncontrolling interest	1,890		1,620
Equity:
Common stock	(2,371)		(2,279)
Additional paid-in capital	(9,537)		(9,641)
Retained income	(8,721)		(6,439)
Accumulated other comprehensive loss	43		46
Less: common stock in treasury	0		12
Total equity — controlling interests	(20,586)		(18,301)
Total equity - noncontrolling interests	57		55
Total equity	(20,529)		(18,246)
Total liabilities and equity	(26,109)		(23,960)
S&P Global Inc. | Reportable Legal Entities
Current assets:
Cash and cash equivalents	556		694
Restricted cash	0		0
Accounts receivable, net of allowance for doubtful accounts	269		163
Intercompany receivable	585		550
Prepaid and other current assets	45		58
Total current assets	1,455		1,465
Property and equipment, net of accumulated depreciation	205		192
Right of use assets	404		0
Goodwill	261		261
Other intangible assets, net	0		0
Investments in subsidiaries	10,631		8,599
Intercompany loans receivable	137		130
Other non-current assets	208		194
Total assets	13,301		10,841
Current liabilities:
Accounts payable	100		89
Intercompany payable	5,107		4,453
Accrued compensation and contributions to retirement plans	108		125
Income taxes currently payable	18		1
Unearned revenue	268		240
Other current liabilities	187		180
Total current liabilities	5,788		5,088
Long-term debt	3,664		3,662
Lease liabilities — non-current	386		0
Intercompany loans payable	120		114
Pension and other postretirement benefits	162		162
Other non-current liabilities	131		166
Total liabilities	10,251		9,192
Redeemable noncontrolling interest	0		0
Equity:
Common stock	294		294
Additional paid-in capital	26		72
Retained income	14,569		12,622
Accumulated other comprehensive loss	(209)		(299)
Less: common stock in treasury	(11,630)		(11,040)
Total equity — controlling interests	3,050		1,649
Total equity - noncontrolling interests	0		0
Total equity	3,050		1,649
Total liabilities and equity	13,301		10,841
Standard & Poor's Financial Services LLC | Reportable Legal Entities
Current assets:
Cash and cash equivalents	0		0
Restricted cash	0		0
Accounts receivable, net of allowance for doubtful accounts	195		109
Intercompany receivable	2,330		2,138
Prepaid and other current assets	0		3
Total current assets	2,525		2,250
Property and equipment, net of accumulated depreciation	0		0
Right of use assets	2		0
Goodwill	0		0
Other intangible assets, net	0		0
Investments in subsidiaries	6		6
Intercompany loans receivable	0		0
Other non-current assets	43		45
Total assets	2,576		2,301
Current liabilities:
Accounts payable	7		15
Intercompany payable	55		32
Accrued compensation and contributions to retirement plans	27		33
Income taxes currently payable	0		0
Unearned revenue	259		235
Other current liabilities	20		16
Total current liabilities	368		331
Long-term debt	0		0
Lease liabilities — non-current	1		0
Intercompany loans payable	0		0
Pension and other postretirement benefits	0		0
Other non-current liabilities	76		75
Total liabilities	445		406
Redeemable noncontrolling interest	0		0
Equity:
Common stock	0		0
Additional paid-in capital	622		618
Retained income	1,509		1,277
Accumulated other comprehensive loss	0		0
Less: common stock in treasury	0		0
Total equity — controlling interests	2,131		1,895
Total equity - noncontrolling interests	0		0
Total equity	2,131		1,895
Total liabilities and equity	2,576		2,301
Non-Guarantor Subsidiaries | Reportable Legal Entities
Current assets:
Cash and cash equivalents	1,325		1,223
Restricted cash	39		41
Accounts receivable, net of allowance for doubtful accounts	1,079		1,177
Intercompany receivable	3,281		2,873
Prepaid and other current assets	186		136
Total current assets	5,910		5,450
Property and equipment, net of accumulated depreciation	75		78
Right of use assets	263		0
Goodwill	3,251		3,265
Other intangible assets, net	1,453		1,524
Investments in subsidiaries	8,008		8,030
Intercompany loans receivable	1,137		1,643
Other non-current assets	320		286
Total assets	20,417		20,276
Current liabilities:
Accounts payable	107		107
Intercompany payable	1,034		1,076
Accrued compensation and contributions to retirement plans	134		196
Income taxes currently payable	70		71
Unearned revenue	1,182		1,166
Other current liabilities	212		155
Total current liabilities	2,739		2,771
Long-term debt	0		0
Lease liabilities — non-current	234		0
Intercompany loans payable	1,154		1,659
Pension and other postretirement benefits	68		67
Other non-current liabilities	304		393
Total liabilities	4,499		4,890
Redeemable noncontrolling interest	0		0
Equity:
Common stock	2,371		2,279
Additional paid-in capital	9,679		9,784
Retained income	4,353		3,824
Accumulated other comprehensive loss	(485)		(489)
Less: common stock in treasury	(1)		(13)
Total equity — controlling interests	15,917		15,385
Total equity - noncontrolling interests	1		1
Total equity	15,918		15,386
Total liabilities and equity	$ 20,417		$ 20,276

Condensed Consolidating Finan_6

Condensed Consolidating Financial Statements - Statement of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Operating Activities:
Net income	$ 602	$ 501	$ 1,055	$ 1,035
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	21	19	41	40
Amortization of intangibles	31	33	63	57
Provision for losses on accounts receivable			12	10
Deferred income taxes			12	22
Stock-based compensation			33	46
Pension settlement charge, net of taxes			85	0
Other			38	80
Changes in operating assets and liabilities, net of effect of acquisitions:
Accounts receivable			(95)	19
Prepaid and other current assets			(42)	(19)
Accounts payable and accrued expenses			(74)	(217)
Unearned revenue			0	41
Accrued legal settlements			(1)	(29)
Other current liabilities			(83)	(69)
Net change in prepaid/accrued income taxes			33	24
Net change in other assets and liabilities			(67)	(137)
Cash provided by operating activities			1,010	903
Investing Activities:
Capital expenditures			(46)	(60)
Acquisitions, net of cash acquired			(4)	(246)
Changes in short-term investments			(3)	1
Cash used for investing activities			(53)	(305)
Financing Activities:
Proceeds from issuance of senior notes, net			0	489
Payments on senior notes			0	(403)
Dividends paid to shareholders			(281)	(253)
Distributions to noncontrolling interest holders, net			(59)	(78)
Purchase of CRISIL shares			0	(25)
Repurchase of treasury shares			(644)	(1,100)
Exercise of stock options			31	16
Employee withholding tax on share-based payments and other			(55)	(50)
Intercompany financing activities			0	0
Cash used for financing activities			(1,008)	(1,404)
Effect of exchange rate changes on cash			13	(38)
Net change in cash, cash equivalents, and restricted cash			(38)	(844)
Cash, cash equivalents, and restricted cash at beginning of period			1,958	2,779
Cash, cash equivalents, and restricted cash at end of period	1,920	1,935	1,920	1,935
Eliminations
Operating Activities:
Net income	(2,900)	(1,106)	(3,429)	(3,635)
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	0	0	0	0
Amortization of intangibles	0	0	0	0
Provision for losses on accounts receivable			0	0
Deferred income taxes			0
Stock-based compensation			0	0
Pension settlement charge, net of taxes			0
Other			0	0
Changes in operating assets and liabilities, net of effect of acquisitions:
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
Cash provided by operating activities			(3,429)	(3,635)
Investing Activities:
Capital expenditures			0	0
Acquisitions, net of cash acquired			0	0
Changes in short-term investments			0	0
Cash used for investing activities			0	0
Financing Activities:
Proceeds from issuance of senior notes, net				0
Payments on senior notes				0
Dividends paid to shareholders			0	0
Distributions to noncontrolling interest holders, net			0	0
Purchase of CRISIL shares				0
Repurchase of treasury shares			0	0
Exercise of stock options			0	0
Employee withholding tax on share-based payments and other			0	0
Intercompany financing activities			3,429	3,635
Cash used for financing activities			3,429	3,635
Effect of exchange rate changes on cash			0	0
Net change in cash, cash equivalents, and restricted cash			0	0
Cash, cash equivalents, and restricted cash at beginning of period			0	0
Cash, cash equivalents, and restricted cash at end of period	0	0	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	1,715	754	2,147	2,262
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	10	11	22	20
Amortization of intangibles	0	0	0	0
Provision for losses on accounts receivable			3	0
Deferred income taxes			4	(86)
Stock-based compensation			9	14
Pension settlement charge, net of taxes			85
Other			8	19
Changes in operating assets and liabilities, net of effect of acquisitions:
Accounts receivable			(109)	(6)
Prepaid and other current assets			(1)	(20)
Accounts payable and accrued expenses			1	(48)
Unearned revenue			28	9
Accrued legal settlements			0
Other current liabilities			(57)	20
Net change in prepaid/accrued income taxes			33	24
Net change in other assets and liabilities			(26)	(27)
Cash provided by operating activities			2,147	2,181
Investing Activities:
Capital expenditures			(25)	(43)
Acquisitions, net of cash acquired			0	0
Changes in short-term investments				0
Cash used for investing activities			(25)	(43)
Financing Activities:
Proceeds from issuance of senior notes, net				489
Payments on senior notes				(403)
Dividends paid to shareholders			(281)	(253)
Distributions to noncontrolling interest holders, net			0	0
Purchase of CRISIL shares				0
Repurchase of treasury shares			(644)	(1,100)
Exercise of stock options			29	14
Employee withholding tax on share-based payments and other			(53)	(50)
Intercompany financing activities			(1,311)	(701)
Cash used for financing activities			(2,260)	(2,004)
Effect of exchange rate changes on cash			0	1
Net change in cash, cash equivalents, and restricted cash			(138)	135
Cash, cash equivalents, and restricted cash at beginning of period			694	632
Cash, cash equivalents, and restricted cash at end of period	556	767	556	767
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	223	244	406	422
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	4	2	6	4
Amortization of intangibles	0	0	0	0
Provision for losses on accounts receivable			3	1
Deferred income taxes			1	0
Stock-based compensation			4	8
Pension settlement charge, net of taxes			0
Other			7	0
Changes in operating assets and liabilities, net of effect of acquisitions:
Accounts receivable			(88)	(29)
Prepaid and other current assets			2	1
Accounts payable and accrued expenses			(13)	(68)
Unearned revenue			27	30
Accrued legal settlements			(1)	0
Other current liabilities			(3)	(4)
Net change in prepaid/accrued income taxes			0	1
Net change in other assets and liabilities			(4)	2
Cash provided by operating activities			347	368
Investing Activities:
Capital expenditures			(3)	(10)
Acquisitions, net of cash acquired			0	0
Changes in short-term investments				0
Cash used for investing activities			(3)	(10)
Financing Activities:
Proceeds from issuance of senior notes, net				0
Payments on senior notes				0
Dividends paid to shareholders			0	0
Distributions to noncontrolling interest holders, net			0	0
Purchase of CRISIL shares				0
Repurchase of treasury shares			0	0
Exercise of stock options			0	0
Employee withholding tax on share-based payments and other			0	0
Intercompany financing activities			(344)	(358)
Cash used for financing activities			(344)	(358)
Effect of exchange rate changes on cash			0	0
Net change in cash, cash equivalents, and restricted cash			0	0
Cash, cash equivalents, and restricted cash at beginning of period			0	0
Cash, cash equivalents, and restricted cash at end of period	0	0	0	0
Non-Guarantor Subsidiaries
Investing Activities:
Changes in short-term investments			(3)
Non-Guarantor Subsidiaries | Reportable Legal Entities
Operating Activities:
Net income	1,564	609	1,931	1,986
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	7	6	13	16
Amortization of intangibles	31	33	63	57
Provision for losses on accounts receivable			6	9
Deferred income taxes			7	108
Stock-based compensation			20	24
Pension settlement charge, net of taxes			0
Other			23	61
Changes in operating assets and liabilities, net of effect of acquisitions:
Accounts receivable			102	54
Prepaid and other current assets			(43)	0
Accounts payable and accrued expenses			(62)	(101)
Unearned revenue			(55)	2
Accrued legal settlements			0	(29)
Other current liabilities			(23)	(85)
Net change in prepaid/accrued income taxes			0	(1)
Net change in other assets and liabilities			(37)	(112)
Cash provided by operating activities			1,945	1,989
Investing Activities:
Capital expenditures			(18)	(7)
Acquisitions, net of cash acquired			(4)	(246)
Changes in short-term investments				1
Cash used for investing activities			(25)	(252)
Financing Activities:
Proceeds from issuance of senior notes, net				0
Payments on senior notes				0
Dividends paid to shareholders			0	0
Distributions to noncontrolling interest holders, net			(59)	(78)
Purchase of CRISIL shares				(25)
Repurchase of treasury shares			0	0
Exercise of stock options			2	2
Employee withholding tax on share-based payments and other			(2)	0
Intercompany financing activities			(1,774)	(2,576)
Cash used for financing activities			(1,833)	(2,677)
Effect of exchange rate changes on cash			13	(39)
Net change in cash, cash equivalents, and restricted cash			100	(979)
Cash, cash equivalents, and restricted cash at beginning of period			1,264	2,147
Cash, cash equivalents, and restricted cash at end of period	$ 1,364	$ 1,168	$ 1,364	$ 1,168