S&P Global (SPGI) 10-Q30 Oct 192019 Q3 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares shares in Millions	9 Months Ended
Cover Page - shares shares in Millions	Sep. 30, 2019	Oct. 25, 2019
Cover page.
Entity Central Index Key	0000064040
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 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		244.4

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Revenue	$ 1,689	$ 1,546	$ 4,964	$ 4,721
Expenses:
Operating-related expenses	438	410	1,337	1,287
Selling and general expenses	360	379	1,115	1,197
Depreciation	20	20	61	60
Amortization of intangibles	29	33	92	91
Total expenses	847	842	2,605	2,635
Gain on dispositions	(49)	0	(49)	0
Operating profit	891	704	2,408	2,086
Other expense (income), net	8	(6)	104	(22)
Interest expense, net	32	38	105	98
Income before taxes on income	851	672	2,199	2,010
Provision for taxes on income	189	137	482	440
Net income	662	535	1,717	1,570
Less: net income attributable to noncontrolling interests	(45)	(40)	(135)	(123)
Net income attributable to S&P Global Inc.	$ 617	$ 495	$ 1,582	$ 1,447
Net income:
Basic (USD per share)	$ 2.52	$ 1.97	$ 6.43	$ 5.75
Diluted (USD per share)	$ 2.50	$ 1.95	$ 6.40	$ 5.70
Weighted-average number of common shares outstanding:
Basic (shares)	245	251.3	245.9	251.6
Diluted (shares)	246.5	253.5	247.4	253.7
Actual shares outstanding at period end (shares)	244.4	250.9	244.4	250.9

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 662	$ 535	$ 1,717	$ 1,570
Other comprehensive income:
Foreign currency translation adjustment	(35)	(1)	(33)	(53)
Income tax effect	2	2	6	(1)
Foreign currency translation adjustment, net of income tax effect	(33)	1	(27)	(54)
Pension and other postretirement benefit plans	2	5	116	(6)
Income tax effect	0	(1)	(28)	2
Pension and other postretirement benefit plans, net of income tax effect	2	4	88	(4)
Unrealized gain on investment and forward exchange contracts	(4)		(4)
Income tax effect	1		1
Unrealized gain on investment and forward exchange contracts, net of income tax effect	(3)		(3)
Unrealized gain on investment and forward exchange contracts		(4)		(8)
Income tax effect		1		2
Unrealized gain on investment and forward exchange contracts, net of income tax effect		(3)		(6)
Comprehensive income	628	537	1,775	1,506
Less: comprehensive income attributable to nonredeemable noncontrolling interests	(1)	(4)	(7)	(11)
Less: comprehensive income attributable to redeemable noncontrolling interests	(44)	(36)	(128)	(112)
Comprehensive income attributable to S&P Global Inc.	$ 583	$ 497	$ 1,640	$ 1,383

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 1,996	$ 1,917
Restricted cash	23	41
Accounts receivable, net of allowance for doubtful accounts: 2019 - $38; 2018 - $34	1,486	1,449
Prepaid and other current assets	217	197
Total current assets	3,722	3,604
Property and equipment, net of accumulated depreciation: 2019 - $608; 2018 - $596	298	270
Right of use assets	660	0
Goodwill	3,515	3,535
Other intangible assets, net	1,427	1,524
Other non-current assets	566	525
Total assets	10,188	9,458
Current liabilities:
Accounts payable	188	211
Accrued compensation and contributions to retirement plans	327	354
Short-term debt	699	0
Income taxes currently payable	114	72
Unearned revenue	1,614	1,641
Other current liabilities	431	351
Total current liabilities	3,373	2,629
Long-term debt	2,966	3,662
Lease liabilities — non-current	615	0
Pension and other postretirement benefits	226	229
Other non-current liabilities	581	634
Total liabilities	7,761	7,154
Redeemable noncontrolling interest (Note 8)	2,025	1,620
Commitments and contingencies (Note 12)
Equity:
Common stock	294	294
Additional paid-in capital	835	833
Retained income	12,054	11,284
Accumulated other comprehensive loss	(684)	(742)
Less: common stock in treasury	(12,153)	(11,041)
Total equity — controlling interests	346	628
Total equity — noncontrolling interests	56	56
Total equity	402	684
Total liabilities and equity	$ 10,188	$ 9,458

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 38	$ 34
Accumulated depreciation	$ 608	$ 596

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Operating Activities:
Net income	$ 1,717	$ 1,570
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	61	60
Amortization of intangibles	92	91
Provision for losses on accounts receivable	17	16
Deferred income taxes	15	21
Stock-based compensation	53	73
Gain on dispositions	(49)	0
Pension settlement charge, net of taxes	85	0
Other	49	20
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable	(50)	62
Prepaid and other current assets	(59)	1
Accounts payable and accrued expenses	(54)	(167)
Unearned revenue	(27)	(72)
Accrued legal settlements	(1)	(180)
Other current liabilities	(81)	(18)
Net change in prepaid/accrued income taxes	58	62
Net change in other assets and liabilities	(54)	(138)
Cash provided by operating activities	1,772	1,401
Investing Activities:
Capital expenditures	(77)	(88)
Acquisitions, net of cash acquired	(25)	(263)
Proceeds from dispositions	85	0
Changes in short-term investments	(3)	5
Cash used for investing activities	(20)	(346)
Financing Activities:
Proceeds from issuance of senior notes, net	0	489
Payments on senior notes	0	(403)
Dividends paid to shareholders	(421)	(379)
Distributions to noncontrolling interest holders, net	(100)	(116)
Purchase of CRISIL shares	0	(25)
Repurchase of treasury shares	(1,144)	(1,108)
Exercise of stock options	38	24
Employee withholding tax on share-based payments and other	(57)	(61)
Cash used for financing activities	(1,684)	(1,579)
Effect of exchange rate changes on cash	(7)	(52)
Net change in cash, cash equivalents, and restricted cash	61	(576)
Cash, cash equivalents, and restricted cash at beginning of period	1,958	2,779
Cash, cash equivalents, and restricted cash at end of period	$ 2,019	$ 2,203

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]	1,394		1,383				1,447	(64)		11
Dividends		(388)		(379)				(379)			(9)
Share repurchases		(1,113)		(1,113)						1,113
Employee stock plans		56		56			45			(11)
Change in redemption value of redeemable noncontrolling interest		(119)		(119)				(119)
Increase in CRISIL ownership		(26)		(25)			(25)				(1)
Stock consideration for Kensho		352		352			352
Other	[2]	31		36				26	10		(5)
Balance at end of period at Sep. 30, 2018		955		902		412	897	11,000	(703)	(10,704)	53
Balance at beginning of period at Jun. 30, 2018		633		580		412	732	10,677	(705)	(10,536)	53
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income		500	[1]	497	[1]			495	2		3
Dividends		(128)		(126)				(126)			(2)
Share repurchases		(13)		(13)			150			163
Employee stock plans		10		10			15			5
Change in redemption value of redeemable noncontrolling interest		(46)		(46)				(46)
Other		(1)									(1)
Balance at end of period at Sep. 30, 2018		955		902		412	897	11,000	(703)	(10,704)	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]	1,647		1,640				1,582	58		7
Dividends		(427)		(420)				(420)			(7)
Share repurchases		(1,144)		(1,144)			(30)			1,174
Employee stock plans		34		34			(28)			(62)
Capital contribution from noncontrolling interest		(36)		(36)				(36)
Change in redemption value of redeemable noncontrolling interest		(356)		(356)				(356)
Balance at end of period at Sep. 30, 2019		402		346		294	835	12,054	(684)	(12,153)	56
Balance at beginning of period at Jun. 30, 2019		570		512		294	790	11,710	(651)	(11,631)	58
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income		584	[1]	583	[1]			617	(34)		1
Dividends		(140)		(139)				(139)			(1)
Share repurchases		(500)		(500)			30			530
Employee stock plans		23		23			15			(8)
Change in redemption value of redeemable noncontrolling interest		(134)		(134)				(134)
Other		(1)		1					1		(2)
Balance at end of period at Sep. 30, 2019		$ 402		$ 346		$ 294	$ 835	$ 12,054	$ (684)	$ (12,153)	$ 56

[1]	Excludes comprehensive income of $44 million and $36 million for the three months ended September 30, 2019 and 2018 , respectively, and $128 million and $112 million for the nine months ended September 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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Stockholders' Equity [Abstract]
Net income attributable to noncontrolling interest	$ 44	$ 36	$ 128	$ 112
Dividends declared per share (USD per share)	$ 0.57	$ 0.5	$ 1.71	$ 1.50

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	9 Months Ended
Nature of Operations and Basis of Presentation	Sep. 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 nine months ended September 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 $23 million and $41 million included in our consolidated balance sheets as of September 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 September 30, 2019 and December 31, 2018 , contract assets were $49 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 in advance of our performance. The decrease in the unearned revenue balance at September 30, 2019 compared to December 31, 2018 is primarily driven by $1.5 billion of revenues recognized that were included in the unearned revenue balance at the beginning of the period, offset by cash payments received in advance of satisfying our performance obligations. Remaining Performance Obligations Remaining performance obligations represent the transaction price of contracts for work that has not yet been performed. As of September 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 September 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 Expense (Income), net The components of other expense (income), net for the three and nine months ended September 30 are as follows: (in millions) Three Months Nine Months 2019 2018 2019 2018 Other components of net periodic benefit cost 1 $ (8 ) $ (8 ) $ 88 $ (24 ) Net loss from investments 16 2 16 2 Other expense (income), net $ 8 $ (6 ) $ 104 $ (22 ) 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 net periodic benefit cost for our retirement and post retirement plans for the nine months ended September 30, 2019 includes a non-cash pre-tax settlement charge of $113 million reflecting the accelerated recognition of a portion of unamortized actuarial losses in the plan.

Acquisitions and Divestitures

Acquisitions and Divestitures	9 Months Ended
Acquisitions and Divestitures	Sep. 30, 2019
Business Combinations [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures Acquisitions 2019 In September of 2019, Platts acquired Canadian Enerdata Ltd. ("Enerdata"), an independent provider of energy data and information in Canada, to further enhance Platts' North American natural gas offering. The acquisition of Enerdata is not material to our consolidated financial statements. In August of 2019, Platts acquired Live Rice Index ("LRI"), a global provider of information and benchmark price assessments for the rice industry. The purchase expands Platts portfolio of agricultural price assessments while extending its data and news coverage in key export regions for international grains. The acquisition of LRI is not material to our consolidated financial statements. 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 innovation 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 August of 2018, we acquired a 5.03% investment in FiscalNote, a technology innovator at the intersection of global business and government that provides advanced, data-driven Issues Management solutions. The investment in FiscalNote is not material to our consolidated financial statements. 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 On July 31, 2019, we completed the sale of RigData, a business within our Platts segment, to Drilling Info, Inc. RigData is a provider of daily information on rig activity for the natural gas and oil markets across North America. During the three and nine months ended September 30, 2019, we recorded a pre-tax gain of $27 million ( $26 million after-tax) in gain on dispositions in the consolidated statement of income related to the sale of RigData. 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. During the three and nine months ended September 30, 2019, we recorded a pre-tax gain of $22 million ( $12 million after-tax) in gain on dispositions in the consolidated statement of income related to the sale of SPIAS. The operating profit of our businesses that were disposed of for the periods ending September 30, 2019 and 2018 is as follows: (in millions) Three Months Nine Months 2019 2018 2019 2018 Operating profit $ — $ 2 $ 5 $ 6 2018 During the nine months ended September 30, 2018, we did not complete any dispositions.

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective income tax rate was 22.2% and 20.4% for the three months ended September 30, 2019 and September 30, 2018, respectively. The increase was primarily due to a favorable adjustment recorded during the three months ended September 30, 2018 to the provisional tax expense originally recorded upon enactment of the Tax Cuts and Jobs Act in December of 2017. The effective tax rate was 21.9% for both the nine months ended September 30, 2019 and September 30, 2018 . 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 September 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 September 30, 2019 and December 31, 2018 , we had $19 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 $3 million in the next twelve months as a result of the resolution of tax examinations.

Debt

Debt	9 Months Ended
Debt	Sep. 30, 2019
Debt Disclosure [Abstract]
Debt	Debt A summary of short-term and long-term debt outstanding is as follows: (in millions) September 30, December 31, 3.3% Senior Notes, due 2020 1 699 698 4.0% Senior Notes, due 2025 2 694 693 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 Total debt 3,665 3,662 Less: short-term debt including current maturities 699 — Long-term debt $ 2,966 $ 3,662 1 Interest payments are due semiannually on February 14 and August 14, and as of September 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 September 30, 2019 , the unamortized debt discount and issuance costs total $6 million . 3 Interest payments are due semiannually on February 15 and August 15, and as of September 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 September 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 September 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 September 30, 2019 , the unamortized debt discount and issuance costs total $10 million . The fair value of our total debt borrowings was $4.2 billion and $3.8 billion as of September 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 September 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	9 Months Ended
Derivative Instruments	Sep. 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 September 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 nine months ended September 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 September 30, 2019 , the aggregate notional value of these outstanding forward contracts was $117 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 in selling and general expenses in the consolidated statement of income. The amount recorded in both prepaid and other current assets and other current liabilities as of September 30, 2019 was $1 million . The amount recorded in selling and general expense for the three and nine months ended September 30, 2019 related to these contracts was a net loss of $4 million and a net gain of less than $1 million , respectively. Cash Flow Hedges During the nine months ended September 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 third 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 September 30, 2019 , we estimate that $1 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 nine months ended September 30, 2019 . As of September 30, 2019 , the aggregate notional value of our outstanding foreign exchange forward contracts designated as cash flow hedges was $201 million . The following table provides information on the location and fair value amounts of our cash flow hedges as of September 30, 2019 and December 31, 2018 : (in millions) September 30, December 31, Balance Sheet Location 2019 2018 Derivatives designated as cash flow hedges: Prepaid and other current assets Foreign exchange forward contracts $ 2 $ 3 Other current liabilities Foreign exchange forward contracts $ (2 ) $ — The following table provides information on the location and amounts of pre-tax gains (losses) on our cash flow hedges for the periods ended September 30 : Three Months (in millions) Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion) Location of Gain (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 ) $ (3 ) Revenue, Selling and general expenses $ — $ (2 ) Nine 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 ) $ (6 ) Revenue, Selling and general expenses $ 4 $ (3 ) The activity related to the change in unrealized gains (losses) in accumulated other comprehensive loss was as follows for the periods ended September 30 : (in millions) Three Months Nine Months 2019 2018 2019 2018 Net unrealized gains on cash flow hedges, net of taxes, beginning of period $ 4 $ (1 ) $ 4 $ 2 Change in fair value, net of tax (3 ) (5 ) 1 (9 ) Reclassification into earnings, net of tax — 2 (4 ) 3 Net unrealized gains (losses) on cash flow hedges, net of taxes, end of period $ 1 $ (4 ) $ 1 $ (4 )

Employee Benefits

Employee Benefits	9 Months Ended
Employee Benefits	Sep. 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 September 30 are as follows: (in millions) Three Months Nine Months 2019 2018 2019 2018 Service cost $ 1 $ 1 $ 2 $ 2 Interest cost 16 18 49 54 Expected return on assets (27 ) (31 ) (81 ) (94 ) Amortization of prior service credit / actuarial loss 3 4 7 13 Net periodic benefit cost (7 ) (8 ) (23 ) (25 ) Settlement charge 1 — — 113 — Net benefit cost $ (7 ) $ (8 ) $ 90 $ (25 ) 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 nine months ended September 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 nine months ended September 30, 2019 did not have a material impact to our financial position, results of operations or cash flows. In the first nine months of 2019 , we contributed $44 million to our retirement plans and expect to make additional required contributions of approximately $1 million to our retirement plans during the remainder of the year. We may elect to make additional non-required contributions depending on investment performance and the pension plan status in the fourth quarter of 2019 .

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
Stock-Based Compensation	Sep. 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 September 30 is as follows: (in millions) Three Months Nine Months 2019 2018 2019 2018 Stock option expense $ — $ 1 $ 1 $ 3 Restricted stock and unit awards expense 20 26 52 70 Total stock-based compensation expense $ 20 $ 27 $ 53 $ 73 During the nine months ended September 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 $213.45 per share. Total unrecognized compensation expense related to unvested stock option awards and unvested restricted stock and unit awards as of September 30, 2019 was $1 million and $79 million , respectively, which is expected to be recognized over a weighted average period of 0.9 years and 1.9 years , respectively.

Equity

Equity	9 Months Ended
Equity	Sep. 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 September 30 were as follows: (in millions, except average price) Three Months Nine Months 2019 2018 2019 2018 Total number of shares purchased 1 2.0 0.7 5.4 5.7 Average price paid per share 2 $ — $ 205.11 $ 184.51 $ 180.94 Total cash utilized 3 $ 500 $ 13 $ 1,144 $ 1,113 1 The three and nine months ended September 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. 3 During the third quarter of 2018, we repurchased shares for approximately $6 million , which settled in October 2018. Cash used for financing activities only reflects those shares which settled during the nine months ended September 30, 2018 resulting in $1,108 million of cash used to repurchase shares. Our purchased shares may be used for general corporate purposes, including the issuance of shares for stock compensation plans and to offset the dilutive effect of the exercise of employee stock options. As of September 30, 2019 , approximately 5.2 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 August 5, 2019 to initiate share repurchases aggregating $500 million . The ASR agreement was structured as a capped ASR agreement in which we paid $500 million and received an initial delivery of approximately 1.6 million shares and an additional amount of 0.2 million shares during the month of August 2019, representing the minimum number of shares of our common stock to be repurchased based on a calculation using a specified capped price per share. We completed the ASR agreement on October 1, 2019 and received an additional 0.1 million shares. We repurchased a total of 2.0 million shares under the ASR agreement for an average purchase price of $253.36 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. 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 received an additional 0.1 million shares. We repurchased a total of 2.3 million shares 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 nine months ended September 30, 2019 were as follows: (in millions) Balance as of December 31, 2018 $ 1,620 Net income attributable to noncontrolling interest 128 Capital contribution from noncontrolling interest 36 Distributions payable to noncontrolling interest (115 ) Redemption value adjustment 356 Balance as of September 30, 2019 $ 2,025 Accumulated Other Comprehensive Loss The following table summarizes the changes in the components of accumulated other comprehensive loss for the nine months ended September 30, 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 (27 ) (3 ) 1 (29 ) Reclassifications from accumulated other comprehensive loss to net earnings — 91 1 (4 ) 2 87 Net other comprehensive income (27 ) 88 (3 ) 58 Balance as of September 30, 2019 $ (366 ) $ (319 ) $ 1 $ (684 ) 1 Reflects amortization of net actuarial losses and is net of a tax benefit of $29 million for the nine months ended September 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	9 Months Ended
Earnings Per Share	Sep. 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 September 30 is as follows: (in millions, except per share amounts) Three Months Nine Months 2019 2018 2019 2018 Amounts attributable to S&P Global Inc. common shareholders: Net income $ 617 $ 495 $ 1,582 $ 1,447 Basic weighted-average number of common shares outstanding 245.0 251.3 245.9 251.6 Effect of stock options and other dilutive securities 1.5 2.2 1.5 2.1 Diluted weighted-average number of common shares outstanding 246.5 253.5 247.4 253.7 Earnings per share attributable to S&P Global Inc. common shareholders: Net income: Basic $ 2.52 $ 1.97 $ 6.43 $ 5.75 Diluted $ 2.50 $ 1.95 $ 6.40 $ 5.70 We have certain stock options and restricted performance shares that are potentially excluded from the computation of diluted EPS. The effect of the potential exercise of stock options is excluded when the average market price of our common stock is lower than the exercise price of the related option during the period or when a net loss exists because the effect would have been antidilutive. Additionally, restricted performance shares are excluded because the necessary vesting conditions had not been met or when a net loss exists. For the three and nine months ended September 30, 2019 and 2018 , there were no stock options excluded. Restricted performance shares outstanding of 0.4 million and 0.8 million as of September 30, 2019 and 2018 , respectively, were excluded.

Restructuring

Restructuring	9 Months Ended
Restructuring	Sep. 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 September 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 $ 9 $ 8 $ — Market Intelligence 1 1 7 1 Platts 1 — — — Corporate 7 6 10 1 Total $ 20 $ 16 $ 25 $ 2 We recorded a pre-tax restructuring charge of $20 million primarily related to employee severance charges for the 2019 restructuring plan during the nine months ended September 30, 2019 and have reduced the reserve by $4 million . The ending reserve balance for the 2018 restructuring plan was $24 million as of December 31, 2018. For the nine months ended September 30, 2019 , we have reduced the reserve for the 2018 restructuring plan by $22 million . The reductions primarily related to cash payments for employee severance charges.

Segment and Related Information

Segment and Related Information	9 Months Ended
Segment and Related Information	Sep. 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 September 30 is as follows: Revenue Three Months Nine Months (in millions) 2019 2018 2019 2018 Ratings $ 789 $ 700 $ 2,286 $ 2,223 Market Intelligence 488 466 1,457 1,355 Platts 212 204 632 604 Indices 232 203 684 621 Corporate — 5 — 10 Intersegment elimination 1 (32 ) (32 ) (95 ) (92 ) Total revenue $ 1,689 $ 1,546 $ 4,964 $ 4,721 Operating Profit Three Months Nine Months (in millions) 2019 2018 2019 2018 Ratings 2 $ 472 $ 395 $ 1,290 $ 1,173 Market Intelligence 3 171 147 462 384 Platts 4 132 98 333 285 Indices 5 161 135 473 420 Total reportable segments 936 775 2,558 2,262 Corporate Unallocated 6 (45 ) (71 ) (150 ) (176 ) Total operating profit $ 891 $ 704 $ 2,408 $ 2,086 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 nine months ended September 30, 2019 . Operating profit includes legal settlement expenses of $73 million for the nine months ended September 30, 2018. Operating profit also includes amortization of intangibles from acquisitions of $1 million for the three months ended September 30, 2018 and $2 million for the nine months ended September 30, 2019 and 2018 . 3 As of July 1, 2019, we completed the sale of SPIAS and the results are included in Market Intelligence results through that date. Operating profit includes a gain on the sale of SPAIS of $22 million for the three and nine months ended September 30, 2019. Operating profit includes employee severance charges of $1 million for the nine months ended September 30, 2019. Operating profit includes restructuring charges related to a business disposition and employee severance charges of $2 million for the three and nine months ended September 30, 2018. Operating profit also includes amortization of intangibles from acquisitions of $19 million for the three months ended September 30, 2019 and 2018 , and $56 million and $55 million for the nine months ended September 30, 2019 and 2018 , respectively. 4 As of July 31, 2019, we completed the sale of RigData and the results are included in Platts results through that date. Operating profit includes a gain on the sale of RigData of $27 million for the three and nine months ended September 30, 2019. Operating profit includes employee severance charges of $1 million for the nine months ended September 30, 2019 . Operating profit also includes amortization of intangibles from acquisitions of $2 million and $4 million for the three months ended September 30, 2019 and 2018 , respectively, and $9 million and $13 million for the nine months ended September 30, 2019 and 2018 , respectively. 5 Operating profit for includes amortization of intangibles from acquisitions of $1 million for the three months ended September 30, 2019 and 2018 and $4 million for the nine months ended September 30, 2019 and 2018 . 6 Operating loss includes Kensho retention related expenses of $6 million and $11 million for the three months ended September 30, 2019 and 2018, respectively, and $17 million and $23 million for the nine months ended September 30, 2019 and 2018 , respectively. Operating loss includes employee severance charges of $7 million and a lease impairment of $5 million for the nine months ended September 30, 2019 and lease impairments of $11 million and employee severance charges of $7 million for the three and nine months ended September 30, 2018. Operating loss also includes amortization of intangibles from acquisitions of $7 million and $21 million for the three and nine months ended September 30, 2019 , respectively, and $8 million and $17 million for the three and nine months ended September 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 September 30, 2019 Subscription $ — $ 477 $ 194 $ 42 $ — $ — $ 713 Non-transaction 387 — — — — (32 ) 355 Non-subscription / Transaction 402 10 2 — — — 414 Asset-linked fees — 1 — 152 — — 153 Sales usage-based royalties — — 16 38 — — 54 Total revenue $ 789 $ 488 $ 212 $ 232 $ — $ (32 ) $ 1,689 Timing of revenue recognition Services transferred at a point in time $ 402 $ 10 $ 2 $ — $ — $ — $ 414 Services transferred over time 387 478 210 232 — (32 ) 1,275 Total revenue $ 789 $ 488 $ 212 $ 232 $ — $ (32 ) $ 1,689 Nine Months Ended September 30, 2019 Subscription $ — $ 1,416 $ 579 $ 122 $ — $ 2,117 Non-transaction 1,138 — — — — (95 ) 1,043 Non-subscription / Transaction 1,148 31 8 — — — 1,187 Asset-linked fees — 10 — 454 — — 464 Sales usage-based royalties — — 45 108 — — 153 Total revenue $ 2,286 $ 1,457 $ 632 $ 684 $ — $ (95 ) $ 4,964 Timing of revenue recognition Services transferred at a point in time $ 1,148 $ 31 $ 8 $ — $ — $ — $ 1,187 Services transferred over time 1,138 1,426 624 684 — (95 ) 3,777 Total revenue $ 2,286 $ 1,457 $ 632 $ 684 $ — $ (95 ) $ 4,964 (in millions) Ratings Market Intelligence Platts Indices Corporate Intersegment Elimination 1 Total Three Months Ended September 30, 2018 Subscription $ — $ 453 $ 188 $ 39 $ 5 $ — $ 685 Non-transaction 379 — — — — (32 ) 347 Non-subscription / Transaction 321 8 2 — — — 331 Asset-linked fees — 5 — 131 — — 136 Sales usage-based royalties — — 14 33 — — 47 Total revenue $ 700 $ 466 $ 204 $ 203 $ 5 $ (32 ) $ 1,546 Timing of revenue recognition Services transferred at a point in time $ 321 $ 8 $ 2 $ — $ — $ — $ 331 Services transferred over time 379 458 202 203 5 (32 ) 1,215 Total revenue $ 700 $ 466 $ 204 $ 203 $ 5 $ (32 ) $ 1,546 Nine Months Ended September 30, 2018 Subscription $ — $ 1,309 $ 556 $ 103 $ 10 $ — $ 1,978 Non-transaction 1,150 — — — — (92 ) 1,058 Non-subscription / Transaction 1,073 31 8 — — — 1,112 Asset-linked fees — 15 — 396 — — 411 Sales usage-based royalties — — 40 122 — — 162 Total revenue $ 2,223 $ 1,355 $ 604 $ 621 $ 10 $ (92 ) $ 4,721 Timing of revenue recognition Services transferred at a point in time $ 1,073 $ 31 $ 8 $ — $ — $ — $ 1,112 Services transferred over time 1,150 1,324 596 621 10 (92 ) 3,609 Total revenue $ 2,223 $ 1,355 $ 604 $ 621 $ 10 $ (92 ) $ 4,721 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 September 30 : (in millions) Three Months Nine Months 2019 2018 2019 2018 U.S. $ 1,013 $ 934 $ 2,974 $ 2,850 European region 419 378 1,212 1,159 Asia 174 160 522 473 Rest of the world 83 74 256 239 Total $ 1,689 $ 1,546 $ 4,964 $ 4,721 See Note 2 — Acquisitions and Divestitures and Note 10 — Restructuring for additional actions that impacted the segment operating results.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 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 September 30, 2019 : (in millions) September 30, Balance Sheet Location 2019 Assets Right of use assets Lease right-of-use assets $ 660 Liabilities Other current liabilities Current lease liabilities 112 Lease liabilities — non-current Noncurrent lease liabilities 615 The components of lease expense for the periods ended September 30 are as follows: (in millions) Three Months Nine Months 2019 2019 Operating lease cost $ 39 $ 116 Sublease income (4 ) (13 ) Total lease cost $ 35 $ 103 Supplemental information related to leases for the periods ended September 30 are as follows: (in millions) Three Months Nine Months 2019 2019 Cash paid for amounts included in the measurement for operating lease liabilities Operating cash flows from operating leases $ 39 $ 110 Right-of-use assets obtained in exchange for lease obligations Operating leases 34 772 Weighted-average remaining lease term and discount rate for our operating leases as of September 30 are as follows: 2019 Weighted-average remaining lease term (years) 9.3 Weighted-average discount rate 4.00 % Maturities of lease liabilities for our operating leases are as follows: (in millions) 2019 (Excluding the nine months ended September 30, 2019) $ 38 2020 128 2021 109 2022 92 2023 77 2024 and beyond 417 Total undiscounted lease payments $ 861 Less: Imputed interest 134 Present value of lease liabilities $ 727 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 nine months ended September 30, 2019 , S&P Dow Jones Indices LLC earned $28 million and $87 million , respectively, of revenue under the terms of the License Agreement. During the three and nine months ended September 30, 2018 , S&P Dow Jones Indices LLC earned $28 million and $82 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. 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 seeks to promptly address any compliance issues that it detects or that the staff of the SEC or another regulator raises, there can be no assurance that the SEC or another regulator will not seek remedies against S&P Global 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	9 Months Ended
Recently Issued or Adopted Accounting Standards	Sep. 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. We are continuing our evaluation of potential changes to our accounting policies, business processes, systems and internal controls to support the recognition and disclosure requirements under the new standard. The extent of the impact upon adoption will depend on the composition of the Company’s receivable portfolio and the impact of past events, current economic conditions at that date, as well as forecasts of future economic conditions thereafter, however, we do not expect this guidance to have a significant impact on our consolidated financial statements. The guidance is effective for reporting periods beginning after December 15, 2019. 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	9 Months Ended
Condensed Consolidating Financial Statements	Sep. 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 September 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 $ 207 $ 491 $ 1,030 $ (39 ) $ 1,689 Expenses: Operating-related expenses 40 103 334 (39 ) 438 Selling and general expenses 50 58 252 — 360 Depreciation 11 3 6 — 20 Amortization of intangibles — — 29 — 29 Total expenses 101 164 621 (39 ) 847 Gain on dispositions (49 ) — — — (49 ) Operating profit 155 327 409 — 891 Other (income) expense, net (5 ) — 13 — 8 Interest expense (income), net 37 — (5 ) — 32 Non-operating intercompany transactions 100 (6 ) (107 ) 13 — Income before taxes on income 23 333 508 (13 ) 851 Provision for taxes on income 16 80 93 — 189 Equity in net income of subsidiaries 622 — — (622 ) — Net income $ 629 $ 253 $ 415 $ (635 ) $ 662 Less: net income attributable to noncontrolling interests — — — (45 ) (45 ) Net income attributable to S&P Global Inc. $ 629 $ 253 $ 415 $ (680 ) $ 617 Comprehensive income $ 632 $ 253 $ 376 $ (633 ) $ 628 Statement of Income Nine Months Ended September 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 $ 617 $ 1,416 $ 3,047 $ (116 ) $ 4,964 Expenses: Operating-related expenses 126 330 997 (116 ) 1,337 Selling and general expenses 124 222 769 — 1,115 Depreciation 33 9 19 — 61 Amortization of intangibles — — 92 — 92 Total expenses 283 561 1,877 (116 ) 2,605 Gain on dispositions (49 ) — — — (49 ) Operating profit 383 855 1,170 — 2,408 Other expense, net 96 — 8 — 104 Interest expense (income), net 115 — (10 ) — 105 Non-operating intercompany transactions 291 (42 ) (1,444 ) 1,195 — Income before taxes on income (119 ) 897 2,616 (1,195 ) 2,199 (Benefit) provision for taxes on income (28 ) 239 271 — 482 Equity in net income of subsidiaries 2,868 — — (2,868 ) — Net income $ 2,777 $ 658 $ 2,345 $ (4,063 ) $ 1,717 Less: net income attributable to noncontrolling interests — — — (135 ) (135 ) Net income attributable to S&P Global Inc. $ 2,777 $ 658 $ 2,345 $ (4,198 ) $ 1,582 Comprehensive income $ 2,869 $ 658 $ 2,310 $ (4,062 ) $ 1,775 Statement of Income Three Months Ended September 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 $ 196 $ 422 $ 967 $ (39 ) $ 1,546 Expenses: Operating-related expenses 30 110 309 (39 ) 410 Selling and general expenses 36 79 264 — 379 Depreciation 11 2 7 — 20 Amortization of intangibles — — 33 — 33 Total expenses 77 191 613 (39 ) 842 Gain on dispositions — — — — — Operating profit 119 231 354 — 704 Other income, net (5 ) — (1 ) — (6 ) Interest expense (income), net 39 1 (2 ) — 38 Non-operating intercompany transactions 90 (11 ) (83 ) 4 — Income before taxes on income (5 ) 241 440 (4 ) 672 (Benefit) Provision for taxes on income (65 ) 94 108 — 137 Equity in net income of subsidiaries 440 — — (440 ) — Net income $ 500 $ 147 $ 332 $ (444 ) $ 535 Less: net income attributable to noncontrolling interests — — — (40 ) (40 ) Net income attributable to S&P Global Inc. $ 500 $ 147 $ 332 $ (484 ) $ 495 Comprehensive income $ 490 $ 147 $ 341 $ (441 ) $ 537 Statement of Income Nine Months Ended September 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 $ 587 $ 1,318 $ 2,929 $ (113 ) $ 4,721 Expenses: Operating-related expenses 105 333 962 (113 ) 1,287 Selling and general expenses 145 222 830 — 1,197 Depreciation 31 6 23 — 60 Amortization of intangibles — — 91 — 91 Total expenses 281 561 1,906 (113 ) 2,635 Gain on dispositions — — — — — Operating profit 306 757 1,023 — 2,086 Other income, net (21 ) — (1 ) — (22 ) Interest expense (income), net 105 2 (9 ) — 98 Non-operating intercompany transactions 277 (54 ) (1,538 ) 1,315 — Income before taxes on income (55 ) 809 2,571 (1,315 ) 2,010 (Benefit) Provision for taxes on income (52 ) 240 252 — 440 Equity in net income of subsidiaries 2,804 — — (2,804 ) — Net income $ 2,801 $ 569 $ 2,319 $ (4,119 ) $ 1,570 Less: net income attributable to noncontrolling interests — — — (123 ) (123 ) Net income attributable to S&P Global Inc. $ 2,801 $ 569 $ 2,319 $ (4,242 ) $ 1,447 Comprehensive income $ 2,781 $ 569 $ 2,274 $ (4,118 ) $ 1,506 Balance Sheet September 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 $ 509 $ — $ 1,487 $ — $ 1,996 Restricted cash — — 23 — 23 Accounts receivable, net of allowance for doubtful accounts 248 195 1,043 — 1,486 Intercompany receivable 588 2,598 3,798 (6,984 ) — Prepaid and other current assets 65 — 152 — 217 Total current assets 1,410 2,793 6,503 (6,984 ) 3,722 Property and equipment, net of accumulated depreciation 201 1 96 — 298 Right of use assets 415 2 243 — 660 Goodwill 283 — 3,225 7 3,515 Other intangible assets, net — — 1,427 — 1,427 Investments in subsidiaries 11,187 6 8,023 (19,216 ) — Intercompany loans receivable 227 — 1,234 (1,461 ) — Other non-current assets 215 39 313 (1 ) 566 Total assets $ 13,938 $ 2,841 $ 21,064 $ (27,655 ) $ 10,188 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 80 $ 8 $ 100 $ — $ 188 Intercompany payable 5,637 52 1,295 (6,984 ) — Accrued compensation and contributions to retirement plans 116 42 169 — 327 Short-term debt 699 — — — 699 Income taxes currently payable 33 — 81 — 114 Unearned revenue 275 247 1,092 — 1,614 Other current liabilities 194 20 217 — 431 Total current liabilities 7,034 369 2,954 (6,984 ) 3,373 Long-term debt 2,966 — — — 2,966 Lease liabilities — non-current 396 1 218 — 615 Intercompany loans payable 209 — 1,251 (1,460 ) — Pension and other postretirement benefits 160 — 66 — 226 Other non-current liabilities 136 81 365 (1 ) 581 Total liabilities 10,901 451 4,854 (8,445 ) 7,761 Redeemable noncontrolling interest — — — 2,025 2,025 Equity: Common stock 294 — 2,378 (2,378 ) 294 Additional paid-in capital 60 627 9,664 (9,516 ) 835 Retained income 15,041 1,763 4,692 (9,442 ) 12,054 Accumulated other comprehensive loss (206 ) — (524 ) 46 (684 ) Less: common stock in treasury (12,152 ) — (1 ) — (12,153 ) Total equity - controlling interests 3,037 2,390 16,209 (21,290 ) 346 Total equity - noncontrolling interests — — 1 55 56 Total equity 3,037 2,390 16,210 (21,235 ) 402 Total liabilities and equity $ 13,938 $ 2,841 $ 21,064 $ (27,655 ) $ 10,188 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 Short-term debt — — — — — 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 Nine Months Ended September 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 $ 2,777 $ 658 $ 2,345 $ (4,063 ) $ 1,717 Adjustments to reconcile net income to cash provided by operating activities: Depreciation 33 9 19 — 61 Amortization of intangibles — — 92 — 92 Provision for losses on accounts receivable 5 1 11 — 17 Deferred income taxes 4 1 10 — 15 Stock-based compensation 17 9 27 — 53 Gain on dispositions (49 ) — — — (49 ) Pension settlement charge, net of taxes 85 — — — 85 Other 12 6 31 — 49 Changes in operating assets and liabilities, net of effect of acquisitions: Accounts receivable (90 ) (86 ) 126 — (50 ) Prepaid and other current assets (20 ) 2 (41 ) — (59 ) Accounts payable and accrued expenses (17 ) (1 ) (36 ) — (54 ) Unearned revenue 35 21 (83 ) — (27 ) Accrued legal settlements — (1 ) — — (1 ) Other current liabilities (62 ) (5 ) (14 ) — (81 ) Net change in prepaid/accrued income taxes 49 1 8 — 58 Net change in other assets and liabilities (56 ) (3 ) 5 (54 ) Cash provided by operating activities 2,723 612 2,500 (4,063 ) 1,772 Investing Activities: Capital expenditures (32 ) (3 ) (42 ) — (77 ) Acquisitions, net of cash acquired — — (25 ) — (25 ) Proceeds from dispositions 85 — — 85 Changes in short-term investments — — (3 ) — (3 ) Cash provided by/(used for) investing activities 53 (3 ) (70 ) — (20 ) Financing Activities: Dividends paid to shareholders (421 ) — — — (421 ) Distributions to noncontrolling interest holders, net — — (100 ) — (100 ) Repurchase of treasury shares (1,144 ) — — — (1,144 ) Exercise of stock options 36 — 2 — 38 Employee withholding tax on share-based payments and other (55 ) — (2 ) — (57 ) Intercompany financing activities (1,377 ) (609 ) (2,077 ) 4,063 — Cash used for financing activities (2,961 ) (609 ) (2,177 ) 4,063 (1,684 ) Effect of exchange rate changes on cash — — (7 ) — (7 ) Net change in cash, cash equivalents, and restricted cash (185 ) — 246 — 61 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 $ 509 $ — $ 1,510 $ — $ 2,019 Statement of Cash Flows Nine Months Ended September 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 $ 2,801 $ 569 $ 2,319 $ (4,119 ) $ 1,570 Adjustments to reconcile net income to cash provided by operating activities: Depreciation 31 6 23 — 60 Amortization of intangibles — — 91 — 91 Provision for losses on accounts receivable 1 1 14 — 16 Deferred income taxes (3 ) — 24 21 Stock-based compensation 21 12 40 — 73 Other 36 — (16 ) — 20 Changes in operating assets and liabilities, net of effect of acquisitions: Accounts receivable 10 (15 ) 67 — 62 Prepaid and other current assets (11 ) 1 11 — 1 Accounts payable and accrued expenses (31 ) (58 ) (78 ) — (167 ) Unearned revenue (20 ) 23 (75 ) — (72 ) Accrued legal settlements — (180 ) — (180 ) Other current liabilities (15 ) (8 ) 5 — (18 ) Net change in prepaid/accrued income taxes 51 2 9 — 62 Net change in other assets and liabilities (123 ) 23 (38 ) — (138 ) Cash provided by operating activities 2,748 556 2,216 (4,119 ) 1,401 Investing Activities: Capital expenditures (63 ) (14 ) (11 ) — (88 ) Acquisitions, net of cash acquired — — (263 ) — (263 ) Changes in short-term investments — — 5 — 5 Cash used for investing activities (63 ) (14 ) (269 ) — (346 ) Financing Activities: Proceeds from issuance of senior notes, net 489 — — — 489 Payments on senior notes (403 ) — — — (403 ) Dividends paid to shareholders (379 ) — — — (379 ) Distributions to noncontrolling interest holders, net — — (116 ) — (116 ) Purchase of CRISIL shares — — (25 ) — (25 ) Repurchase of treasury shares (1,108 ) — — — (1,108 ) Exercise of stock options 18 — 6 — 24 Employee withholding tax on share-based payments and other (61 ) — — — (61 ) Intercompany financing activities (968 ) (542 ) (2,609 ) 4,119 — Cash used for financing activities (2,412 ) (542 ) (2,744 ) 4,119 (1,579 ) Effect of exchange rate changes on cash (14 ) — (38 ) — (52 ) Net change in cash, cash equivalents, and restricted cash 259 — (835 ) — (576 ) 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 $ 891 $ — $ 1,312 $ — $ 2,203

Nature of Operations and Basi_2

Nature of Operations and Basis of Presentation (Policies)	9 Months Ended
Nature of Operations and Basis of Presentation (Policies)	Sep. 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 nine months ended September 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. We are continuing our evaluation of potential changes to our accounting policies, business processes, systems and internal controls to support the recognition and disclosure requirements under the new standard. The extent of the impact upon adoption will depend on the composition of the Company’s receivable portfolio and the impact of past events, current economic conditions at that date, as well as forecasts of future economic conditions thereafter, however, we do not expect this guidance to have a significant impact on our consolidated financial statements. The guidance is effective for reporting periods beginning after December 15, 2019. 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)	9 Months Ended
Nature of Operations and Basis of Presentation (Tables)	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Components of Other Income, Net	The components of other expense (income), net for the three and nine months ended September 30 are as follows: (in millions) Three Months Nine Months 2019 2018 2019 2018 Other components of net periodic benefit cost 1 $ (8 ) $ (8 ) $ 88 $ (24 ) Net loss from investments 16 2 16 2 Other expense (income), net $ 8 $ (6 ) $ 104 $ (22 ) 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 net periodic benefit cost for our retirement and post retirement plans for the nine months ended September 30, 2019 includes a non-cash pre-tax settlement charge of $113 million reflecting the accelerated recognition of a portion of unamortized actuarial losses in the plan.

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	9 Months Ended
Acquisitions and Divestitures (Tables)	Sep. 30, 2019
Business Combinations [Abstract]
Schedule of Operating Profit of Business Held-for-Sale	The operating profit of our businesses that were disposed of for the periods ending September 30, 2019 and 2018 is as follows: (in millions) Three Months Nine Months 2019 2018 2019 2018 Operating profit $ — $ 2 $ 5 $ 6

Debt (Tables)

Debt (Tables)	9 Months Ended
Debt (Tables)	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of Debt	A summary of short-term and long-term debt outstanding is as follows: (in millions) September 30, December 31, 3.3% Senior Notes, due 2020 1 699 698 4.0% Senior Notes, due 2025 2 694 693 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 Total debt 3,665 3,662 Less: short-term debt including current maturities 699 — Long-term debt $ 2,966 $ 3,662 1 Interest payments are due semiannually on February 14 and August 14, and as of September 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 September 30, 2019 , the unamortized debt discount and issuance costs total $6 million . 3 Interest payments are due semiannually on February 15 and August 15, and as of September 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 September 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 September 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 September 30, 2019 , the unamortized debt discount and issuance costs total $10 million .

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
Derivative Instruments (Tables)	Sep. 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 September 30, 2019 and December 31, 2018 : (in millions) September 30, December 31, Balance Sheet Location 2019 2018 Derivatives designated as cash flow hedges: Prepaid and other current assets Foreign exchange forward contracts $ 2 $ 3 Other current liabilities Foreign exchange forward contracts $ (2 ) $ —
Schedule of the Location and Amounts of Pre-Tax Gains (Losses) on Cash Flow Hedges	The following table provides information on the location and amounts of pre-tax gains (losses) on our cash flow hedges for the periods ended September 30 : Three Months (in millions) Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion) Location of Gain (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 ) $ (3 ) Revenue, Selling and general expenses $ — $ (2 ) Nine 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 ) $ (6 ) Revenue, Selling and general expenses $ 4 $ (3 )
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 September 30 : (in millions) Three Months Nine Months 2019 2018 2019 2018 Net unrealized gains on cash flow hedges, net of taxes, beginning of period $ 4 $ (1 ) $ 4 $ 2 Change in fair value, net of tax (3 ) (5 ) 1 (9 ) Reclassification into earnings, net of tax — 2 (4 ) 3 Net unrealized gains (losses) on cash flow hedges, net of taxes, end of period $ 1 $ (4 ) $ 1 $ (4 )

Employee Benefits (Tables)

Employee Benefits (Tables)	9 Months Ended
Employee Benefits (Tables)	Sep. 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 September 30 are as follows: (in millions) Three Months Nine Months 2019 2018 2019 2018 Service cost $ 1 $ 1 $ 2 $ 2 Interest cost 16 18 49 54 Expected return on assets (27 ) (31 ) (81 ) (94 ) Amortization of prior service credit / actuarial loss 3 4 7 13 Net periodic benefit cost (7 ) (8 ) (23 ) (25 ) Settlement charge 1 — — 113 — Net benefit cost $ (7 ) $ (8 ) $ 90 $ (25 ) 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)	9 Months Ended
Stock-Based Compensation (Tables)	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Schedule of Stock-Based Compensation	Stock-based compensation for the periods ended September 30 is as follows: (in millions) Three Months Nine Months 2019 2018 2019 2018 Stock option expense $ — $ 1 $ 1 $ 3 Restricted stock and unit awards expense 20 26 52 70 Total stock-based compensation expense $ 20 $ 27 $ 53 $ 73

Equity (Tables)

Equity (Tables)	9 Months Ended
Equity (Tables)	Sep. 30, 2019
Equity [Abstract]
Schedule of Share Repurchases	Share repurchases for the periods ended September 30 were as follows: (in millions, except average price) Three Months Nine Months 2019 2018 2019 2018 Total number of shares purchased 1 2.0 0.7 5.4 5.7 Average price paid per share 2 $ — $ 205.11 $ 184.51 $ 180.94 Total cash utilized 3 $ 500 $ 13 $ 1,144 $ 1,113 1 The three and nine months ended September 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. 3 During the third quarter of 2018, we repurchased shares for approximately $6 million , which settled in October 2018. Cash used for financing activities only reflects those shares which settled during the nine months ended September 30, 2018 resulting in $1,108 million of cash used to repurchase shares.
Schedule of Redeemable Noncontrolling Interest	Changes to redeemable noncontrolling interest during the nine months ended September 30, 2019 were as follows: (in millions) Balance as of December 31, 2018 $ 1,620 Net income attributable to noncontrolling interest 128 Capital contribution from noncontrolling interest 36 Distributions payable to noncontrolling interest (115 ) Redemption value adjustment 356 Balance as of September 30, 2019 $ 2,025
Schedule of Changes in the Components of Accumulated Other Comprehensive Loss	The following table summarizes the changes in the components of accumulated other comprehensive loss for the nine months ended September 30, 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 (27 ) (3 ) 1 (29 ) Reclassifications from accumulated other comprehensive loss to net earnings — 91 1 (4 ) 2 87 Net other comprehensive income (27 ) 88 (3 ) 58 Balance as of September 30, 2019 $ (366 ) $ (319 ) $ 1 $ (684 ) 1 Reflects amortization of net actuarial losses and is net of a tax benefit of $29 million for the nine months ended September 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)	9 Months Ended
Earnings Per Share (Tables)	Sep. 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 September 30 is as follows: (in millions, except per share amounts) Three Months Nine Months 2019 2018 2019 2018 Amounts attributable to S&P Global Inc. common shareholders: Net income $ 617 $ 495 $ 1,582 $ 1,447 Basic weighted-average number of common shares outstanding 245.0 251.3 245.9 251.6 Effect of stock options and other dilutive securities 1.5 2.2 1.5 2.1 Diluted weighted-average number of common shares outstanding 246.5 253.5 247.4 253.7 Earnings per share attributable to S&P Global Inc. common shareholders: Net income: Basic $ 2.52 $ 1.97 $ 6.43 $ 5.75 Diluted $ 2.50 $ 1.95 $ 6.40 $ 5.70

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
Restructuring (Tables)	Sep. 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 September 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 $ 9 $ 8 $ — Market Intelligence 1 1 7 1 Platts 1 — — — Corporate 7 6 10 1 Total $ 20 $ 16 $ 25 $ 2

Segment and Related Informati_2

Segment and Related Information (Tables)	9 Months Ended
Segment and Related Information (Tables)	Sep. 30, 2019
Segment Reporting [Abstract]
Schedule of Operating Results by Segment	A summary of operating results for the periods ended September 30 is as follows: Revenue Three Months Nine Months (in millions) 2019 2018 2019 2018 Ratings $ 789 $ 700 $ 2,286 $ 2,223 Market Intelligence 488 466 1,457 1,355 Platts 212 204 632 604 Indices 232 203 684 621 Corporate — 5 — 10 Intersegment elimination 1 (32 ) (32 ) (95 ) (92 ) Total revenue $ 1,689 $ 1,546 $ 4,964 $ 4,721 Operating Profit Three Months Nine Months (in millions) 2019 2018 2019 2018 Ratings 2 $ 472 $ 395 $ 1,290 $ 1,173 Market Intelligence 3 171 147 462 384 Platts 4 132 98 333 285 Indices 5 161 135 473 420 Total reportable segments 936 775 2,558 2,262 Corporate Unallocated 6 (45 ) (71 ) (150 ) (176 ) Total operating profit $ 891 $ 704 $ 2,408 $ 2,086 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 nine months ended September 30, 2019 . Operating profit includes legal settlement expenses of $73 million for the nine months ended September 30, 2018. Operating profit also includes amortization of intangibles from acquisitions of $1 million for the three months ended September 30, 2018 and $2 million for the nine months ended September 30, 2019 and 2018 . 3 As of July 1, 2019, we completed the sale of SPIAS and the results are included in Market Intelligence results through that date. Operating profit includes a gain on the sale of SPAIS of $22 million for the three and nine months ended September 30, 2019. Operating profit includes employee severance charges of $1 million for the nine months ended September 30, 2019. Operating profit includes restructuring charges related to a business disposition and employee severance charges of $2 million for the three and nine months ended September 30, 2018. Operating profit also includes amortization of intangibles from acquisitions of $19 million for the three months ended September 30, 2019 and 2018 , and $56 million and $55 million for the nine months ended September 30, 2019 and 2018 , respectively. 4 As of July 31, 2019, we completed the sale of RigData and the results are included in Platts results through that date. Operating profit includes a gain on the sale of RigData of $27 million for the three and nine months ended September 30, 2019. Operating profit includes employee severance charges of $1 million for the nine months ended September 30, 2019 . Operating profit also includes amortization of intangibles from acquisitions of $2 million and $4 million for the three months ended September 30, 2019 and 2018 , respectively, and $9 million and $13 million for the nine months ended September 30, 2019 and 2018 , respectively. 5 Operating profit for includes amortization of intangibles from acquisitions of $1 million for the three months ended September 30, 2019 and 2018 and $4 million for the nine months ended September 30, 2019 and 2018 . 6 Operating loss includes Kensho retention related expenses of $6 million and $11 million for the three months ended September 30, 2019 and 2018, respectively, and $17 million and $23 million for the nine months ended September 30, 2019 and 2018 , respectively. Operating loss includes employee severance charges of $7 million and a lease impairment of $5 million for the nine months ended September 30, 2019 and lease impairments of $11 million and employee severance charges of $7 million for the three and nine months ended September 30, 2018. Operating loss also includes amortization of intangibles from acquisitions of $7 million and $21 million for the three and nine months ended September 30, 2019 , respectively, and $8 million and $17 million for the three and nine months ended September 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 September 30, 2019 Subscription $ — $ 477 $ 194 $ 42 $ — $ — $ 713 Non-transaction 387 — — — — (32 ) 355 Non-subscription / Transaction 402 10 2 — — — 414 Asset-linked fees — 1 — 152 — — 153 Sales usage-based royalties — — 16 38 — — 54 Total revenue $ 789 $ 488 $ 212 $ 232 $ — $ (32 ) $ 1,689 Timing of revenue recognition Services transferred at a point in time $ 402 $ 10 $ 2 $ — $ — $ — $ 414 Services transferred over time 387 478 210 232 — (32 ) 1,275 Total revenue $ 789 $ 488 $ 212 $ 232 $ — $ (32 ) $ 1,689 Nine Months Ended September 30, 2019 Subscription $ — $ 1,416 $ 579 $ 122 $ — $ 2,117 Non-transaction 1,138 — — — — (95 ) 1,043 Non-subscription / Transaction 1,148 31 8 — — — 1,187 Asset-linked fees — 10 — 454 — — 464 Sales usage-based royalties — — 45 108 — — 153 Total revenue $ 2,286 $ 1,457 $ 632 $ 684 $ — $ (95 ) $ 4,964 Timing of revenue recognition Services transferred at a point in time $ 1,148 $ 31 $ 8 $ — $ — $ — $ 1,187 Services transferred over time 1,138 1,426 624 684 — (95 ) 3,777 Total revenue $ 2,286 $ 1,457 $ 632 $ 684 $ — $ (95 ) $ 4,964 (in millions) Ratings Market Intelligence Platts Indices Corporate Intersegment Elimination 1 Total Three Months Ended September 30, 2018 Subscription $ — $ 453 $ 188 $ 39 $ 5 $ — $ 685 Non-transaction 379 — — — — (32 ) 347 Non-subscription / Transaction 321 8 2 — — — 331 Asset-linked fees — 5 — 131 — — 136 Sales usage-based royalties — — 14 33 — — 47 Total revenue $ 700 $ 466 $ 204 $ 203 $ 5 $ (32 ) $ 1,546 Timing of revenue recognition Services transferred at a point in time $ 321 $ 8 $ 2 $ — $ — $ — $ 331 Services transferred over time 379 458 202 203 5 (32 ) 1,215 Total revenue $ 700 $ 466 $ 204 $ 203 $ 5 $ (32 ) $ 1,546 Nine Months Ended September 30, 2018 Subscription $ — $ 1,309 $ 556 $ 103 $ 10 $ — $ 1,978 Non-transaction 1,150 — — — — (92 ) 1,058 Non-subscription / Transaction 1,073 31 8 — — — 1,112 Asset-linked fees — 15 — 396 — — 411 Sales usage-based royalties — — 40 122 — — 162 Total revenue $ 2,223 $ 1,355 $ 604 $ 621 $ 10 $ (92 ) $ 4,721 Timing of revenue recognition Services transferred at a point in time $ 1,073 $ 31 $ 8 $ — $ — $ — $ 1,112 Services transferred over time 1,150 1,324 596 621 10 (92 ) 3,609 Total revenue $ 2,223 $ 1,355 $ 604 $ 621 $ 10 $ (92 ) $ 4,721 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 September 30 : (in millions) Three Months Nine Months 2019 2018 2019 2018 U.S. $ 1,013 $ 934 $ 2,974 $ 2,850 European region 419 378 1,212 1,159 Asia 174 160 522 473 Rest of the world 83 74 256 239 Total $ 1,689 $ 1,546 $ 4,964 $ 4,721

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
Commitments and Contingencies (Tables)	Sep. 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 September 30, 2019 : (in millions) September 30, Balance Sheet Location 2019 Assets Right of use assets Lease right-of-use assets $ 660 Liabilities Other current liabilities Current lease liabilities 112 Lease liabilities — non-current Noncurrent lease liabilities 615
Schedule of Components of Lease Expense and Supplemental Cash Flow Information	The components of lease expense for the periods ended September 30 are as follows: (in millions) Three Months Nine Months 2019 2019 Operating lease cost $ 39 $ 116 Sublease income (4 ) (13 ) Total lease cost $ 35 $ 103 Supplemental information related to leases for the periods ended September 30 are as follows: (in millions) Three Months Nine Months 2019 2019 Cash paid for amounts included in the measurement for operating lease liabilities Operating cash flows from operating leases $ 39 $ 110 Right-of-use assets obtained in exchange for lease obligations Operating leases 34 772
Schedule of Lease Term and Discount Rate	Weighted-average remaining lease term and discount rate for our operating leases as of September 30 are as follows: 2019 Weighted-average remaining lease term (years) 9.3 Weighted-average discount rate 4.00 %
Schedule of Maturities of Operating Lease Liabilities	Maturities of lease liabilities for our operating leases are as follows: (in millions) 2019 (Excluding the nine months ended September 30, 2019) $ 38 2020 128 2021 109 2022 92 2023 77 2024 and beyond 417 Total undiscounted lease payments $ 861 Less: Imputed interest 134 Present value of lease liabilities $ 727

Condensed Consolidating Finan_2

Condensed Consolidating Financial Statements (Tables)	9 Months Ended
Condensed Consolidating Financial Statements (Tables)	Sep. 30, 2019
Condensed Financial Information Disclosure [Abstract]
Schedule of Statement of Income	Statement of Income Three Months Ended September 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 $ 207 $ 491 $ 1,030 $ (39 ) $ 1,689 Expenses: Operating-related expenses 40 103 334 (39 ) 438 Selling and general expenses 50 58 252 — 360 Depreciation 11 3 6 — 20 Amortization of intangibles — — 29 — 29 Total expenses 101 164 621 (39 ) 847 Gain on dispositions (49 ) — — — (49 ) Operating profit 155 327 409 — 891 Other (income) expense, net (5 ) — 13 — 8 Interest expense (income), net 37 — (5 ) — 32 Non-operating intercompany transactions 100 (6 ) (107 ) 13 — Income before taxes on income 23 333 508 (13 ) 851 Provision for taxes on income 16 80 93 — 189 Equity in net income of subsidiaries 622 — — (622 ) — Net income $ 629 $ 253 $ 415 $ (635 ) $ 662 Less: net income attributable to noncontrolling interests — — — (45 ) (45 ) Net income attributable to S&P Global Inc. $ 629 $ 253 $ 415 $ (680 ) $ 617 Comprehensive income $ 632 $ 253 $ 376 $ (633 ) $ 628 Statement of Income Nine Months Ended September 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 $ 617 $ 1,416 $ 3,047 $ (116 ) $ 4,964 Expenses: Operating-related expenses 126 330 997 (116 ) 1,337 Selling and general expenses 124 222 769 — 1,115 Depreciation 33 9 19 — 61 Amortization of intangibles — — 92 — 92 Total expenses 283 561 1,877 (116 ) 2,605 Gain on dispositions (49 ) — — — (49 ) Operating profit 383 855 1,170 — 2,408 Other expense, net 96 — 8 — 104 Interest expense (income), net 115 — (10 ) — 105 Non-operating intercompany transactions 291 (42 ) (1,444 ) 1,195 — Income before taxes on income (119 ) 897 2,616 (1,195 ) 2,199 (Benefit) provision for taxes on income (28 ) 239 271 — 482 Equity in net income of subsidiaries 2,868 — — (2,868 ) — Net income $ 2,777 $ 658 $ 2,345 $ (4,063 ) $ 1,717 Less: net income attributable to noncontrolling interests — — — (135 ) (135 ) Net income attributable to S&P Global Inc. $ 2,777 $ 658 $ 2,345 $ (4,198 ) $ 1,582 Comprehensive income $ 2,869 $ 658 $ 2,310 $ (4,062 ) $ 1,775 Statement of Income Three Months Ended September 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 $ 196 $ 422 $ 967 $ (39 ) $ 1,546 Expenses: Operating-related expenses 30 110 309 (39 ) 410 Selling and general expenses 36 79 264 — 379 Depreciation 11 2 7 — 20 Amortization of intangibles — — 33 — 33 Total expenses 77 191 613 (39 ) 842 Gain on dispositions — — — — — Operating profit 119 231 354 — 704 Other income, net (5 ) — (1 ) — (6 ) Interest expense (income), net 39 1 (2 ) — 38 Non-operating intercompany transactions 90 (11 ) (83 ) 4 — Income before taxes on income (5 ) 241 440 (4 ) 672 (Benefit) Provision for taxes on income (65 ) 94 108 — 137 Equity in net income of subsidiaries 440 — — (440 ) — Net income $ 500 $ 147 $ 332 $ (444 ) $ 535 Less: net income attributable to noncontrolling interests — — — (40 ) (40 ) Net income attributable to S&P Global Inc. $ 500 $ 147 $ 332 $ (484 ) $ 495 Comprehensive income $ 490 $ 147 $ 341 $ (441 ) $ 537 Statement of Income Nine Months Ended September 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 $ 587 $ 1,318 $ 2,929 $ (113 ) $ 4,721 Expenses: Operating-related expenses 105 333 962 (113 ) 1,287 Selling and general expenses 145 222 830 — 1,197 Depreciation 31 6 23 — 60 Amortization of intangibles — — 91 — 91 Total expenses 281 561 1,906 (113 ) 2,635 Gain on dispositions — — — — — Operating profit 306 757 1,023 — 2,086 Other income, net (21 ) — (1 ) — (22 ) Interest expense (income), net 105 2 (9 ) — 98 Non-operating intercompany transactions 277 (54 ) (1,538 ) 1,315 — Income before taxes on income (55 ) 809 2,571 (1,315 ) 2,010 (Benefit) Provision for taxes on income (52 ) 240 252 — 440 Equity in net income of subsidiaries 2,804 — — (2,804 ) — Net income $ 2,801 $ 569 $ 2,319 $ (4,119 ) $ 1,570 Less: net income attributable to noncontrolling interests — — — (123 ) (123 ) Net income attributable to S&P Global Inc. $ 2,801 $ 569 $ 2,319 $ (4,242 ) $ 1,447 Comprehensive income $ 2,781 $ 569 $ 2,274 $ (4,118 ) $ 1,506
Schedule of Balance Sheet	Balance Sheet September 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 $ 509 $ — $ 1,487 $ — $ 1,996 Restricted cash — — 23 — 23 Accounts receivable, net of allowance for doubtful accounts 248 195 1,043 — 1,486 Intercompany receivable 588 2,598 3,798 (6,984 ) — Prepaid and other current assets 65 — 152 — 217 Total current assets 1,410 2,793 6,503 (6,984 ) 3,722 Property and equipment, net of accumulated depreciation 201 1 96 — 298 Right of use assets 415 2 243 — 660 Goodwill 283 — 3,225 7 3,515 Other intangible assets, net — — 1,427 — 1,427 Investments in subsidiaries 11,187 6 8,023 (19,216 ) — Intercompany loans receivable 227 — 1,234 (1,461 ) — Other non-current assets 215 39 313 (1 ) 566 Total assets $ 13,938 $ 2,841 $ 21,064 $ (27,655 ) $ 10,188 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 80 $ 8 $ 100 $ — $ 188 Intercompany payable 5,637 52 1,295 (6,984 ) — Accrued compensation and contributions to retirement plans 116 42 169 — 327 Short-term debt 699 — — — 699 Income taxes currently payable 33 — 81 — 114 Unearned revenue 275 247 1,092 — 1,614 Other current liabilities 194 20 217 — 431 Total current liabilities 7,034 369 2,954 (6,984 ) 3,373 Long-term debt 2,966 — — — 2,966 Lease liabilities — non-current 396 1 218 — 615 Intercompany loans payable 209 — 1,251 (1,460 ) — Pension and other postretirement benefits 160 — 66 — 226 Other non-current liabilities 136 81 365 (1 ) 581 Total liabilities 10,901 451 4,854 (8,445 ) 7,761 Redeemable noncontrolling interest — — — 2,025 2,025 Equity: Common stock 294 — 2,378 (2,378 ) 294 Additional paid-in capital 60 627 9,664 (9,516 ) 835 Retained income 15,041 1,763 4,692 (9,442 ) 12,054 Accumulated other comprehensive loss (206 ) — (524 ) 46 (684 ) Less: common stock in treasury (12,152 ) — (1 ) — (12,153 ) Total equity - controlling interests 3,037 2,390 16,209 (21,290 ) 346 Total equity - noncontrolling interests — — 1 55 56 Total equity 3,037 2,390 16,210 (21,235 ) 402 Total liabilities and equity $ 13,938 $ 2,841 $ 21,064 $ (27,655 ) $ 10,188 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 Short-term debt — — — — — 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 Nine Months Ended September 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 $ 2,777 $ 658 $ 2,345 $ (4,063 ) $ 1,717 Adjustments to reconcile net income to cash provided by operating activities: Depreciation 33 9 19 — 61 Amortization of intangibles — — 92 — 92 Provision for losses on accounts receivable 5 1 11 — 17 Deferred income taxes 4 1 10 — 15 Stock-based compensation 17 9 27 — 53 Gain on dispositions (49 ) — — — (49 ) Pension settlement charge, net of taxes 85 — — — 85 Other 12 6 31 — 49 Changes in operating assets and liabilities, net of effect of acquisitions: Accounts receivable (90 ) (86 ) 126 — (50 ) Prepaid and other current assets (20 ) 2 (41 ) — (59 ) Accounts payable and accrued expenses (17 ) (1 ) (36 ) — (54 ) Unearned revenue 35 21 (83 ) — (27 ) Accrued legal settlements — (1 ) — — (1 ) Other current liabilities (62 ) (5 ) (14 ) — (81 ) Net change in prepaid/accrued income taxes 49 1 8 — 58 Net change in other assets and liabilities (56 ) (3 ) 5 (54 ) Cash provided by operating activities 2,723 612 2,500 (4,063 ) 1,772 Investing Activities: Capital expenditures (32 ) (3 ) (42 ) — (77 ) Acquisitions, net of cash acquired — — (25 ) — (25 ) Proceeds from dispositions 85 — — 85 Changes in short-term investments — — (3 ) — (3 ) Cash provided by/(used for) investing activities 53 (3 ) (70 ) — (20 ) Financing Activities: Dividends paid to shareholders (421 ) — — — (421 ) Distributions to noncontrolling interest holders, net — — (100 ) — (100 ) Repurchase of treasury shares (1,144 ) — — — (1,144 ) Exercise of stock options 36 — 2 — 38 Employee withholding tax on share-based payments and other (55 ) — (2 ) — (57 ) Intercompany financing activities (1,377 ) (609 ) (2,077 ) 4,063 — Cash used for financing activities (2,961 ) (609 ) (2,177 ) 4,063 (1,684 ) Effect of exchange rate changes on cash — — (7 ) — (7 ) Net change in cash, cash equivalents, and restricted cash (185 ) — 246 — 61 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 $ 509 $ — $ 1,510 $ — $ 2,019 Statement of Cash Flows Nine Months Ended September 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 $ 2,801 $ 569 $ 2,319 $ (4,119 ) $ 1,570 Adjustments to reconcile net income to cash provided by operating activities: Depreciation 31 6 23 — 60 Amortization of intangibles — — 91 — 91 Provision for losses on accounts receivable 1 1 14 — 16 Deferred income taxes (3 ) — 24 21 Stock-based compensation 21 12 40 — 73 Other 36 — (16 ) — 20 Changes in operating assets and liabilities, net of effect of acquisitions: Accounts receivable 10 (15 ) 67 — 62 Prepaid and other current assets (11 ) 1 11 — 1 Accounts payable and accrued expenses (31 ) (58 ) (78 ) — (167 ) Unearned revenue (20 ) 23 (75 ) — (72 ) Accrued legal settlements — (180 ) — (180 ) Other current liabilities (15 ) (8 ) 5 — (18 ) Net change in prepaid/accrued income taxes 51 2 9 — 62 Net change in other assets and liabilities (123 ) 23 (38 ) — (138 ) Cash provided by operating activities 2,748 556 2,216 (4,119 ) 1,401 Investing Activities: Capital expenditures (63 ) (14 ) (11 ) — (88 ) Acquisitions, net of cash acquired — — (263 ) — (263 ) Changes in short-term investments — — 5 — 5 Cash used for investing activities (63 ) (14 ) (269 ) — (346 ) Financing Activities: Proceeds from issuance of senior notes, net 489 — — — 489 Payments on senior notes (403 ) — — — (403 ) Dividends paid to shareholders (379 ) — — — (379 ) Distributions to noncontrolling interest holders, net — — (116 ) — (116 ) Purchase of CRISIL shares — — (25 ) — (25 ) Repurchase of treasury shares (1,108 ) — — — (1,108 ) Exercise of stock options 18 — 6 — 24 Employee withholding tax on share-based payments and other (61 ) — — — (61 ) Intercompany financing activities (968 ) (542 ) (2,609 ) 4,119 — Cash used for financing activities (2,412 ) (542 ) (2,744 ) 4,119 (1,579 ) Effect of exchange rate changes on cash (14 ) — (38 ) — (52 ) Net change in cash, cash equivalents, and restricted cash 259 — (835 ) — (576 ) 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 $ 891 $ — $ 1,312 $ — $ 2,203

Nature of Operations and Basi_4

Nature of Operations and Basis of Presentation - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)Segment	Dec. 31, 2018USD ($)	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Number of reportable segments \| Segment	4
Restricted cash	$ 23	$ 41
Contract asset	49	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	1,500
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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other expense (income), net	$ 8	$ (6)	$ 104	$ (22)
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	(8)	(8)	88	(24)
Net loss from investments	16	2	16	2
Other expense (income), net	$ 8	$ (6)	$ 104	$ (22)

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	Sep. 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	3 Months Ended	9 Months Ended
	Apr. 30, 2018	Sep. 30, 2019	Sep. 30, 2019	Aug. 31, 2018	Jan. 31, 2018
FiscalNote
Schedule of Equity Method Investments And Cost-Method Investments [Line Items]
Noncontrolling interest ownership by noncontrolling owners (as a percent)				5.03%
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%
RigData \| Disposal Group, Held-for-sale, Not Discontinued Operations
Schedule of Equity Method Investments And Cost-Method Investments [Line Items]
Gain (loss) on disposal before tax		$ 27	$ 27
Gain (loss) on disposal after tax		26	26
SPIAS \| Disposal Group, Held-for-sale, Not Discontinued Operations
Schedule of Equity Method Investments And Cost-Method Investments [Line Items]
Gain (loss) on disposal before tax		22	22
Gain (loss) on disposal after tax		$ 12	$ 12

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Operating Profit of Business Held-for-Sale (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
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	$ 0	$ 2	$ 5	$ 6

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	22.20%	20.40%	21.90%	21.90%
Unrecognized tax benefits	$ 114		$ 114		$ 147
Accrued interest and penalties associated with unrecognized tax benefits	19		19		$ 35
Reduction of unrecognized tax benefits is reasonably possible	$ 3		$ 3

Debt - Narrative (Details)

Debt - Narrative (Details)	Jun. 30, 2017USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
Long-term debt, fair value		$ 4,200,000,000	$ 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	Sep. 30, 2019	Dec. 31, 2018	May 17, 2018	Sep. 22, 2016	May 26, 2015
Debt Instrument [Line Items]
Total debt	$ 3,665	$ 3,662
Less: short-term debt including current maturities	699	0
Long-term debt	2,966	3,662
Senior Notes \| 3.3% Senior Notes, due 2020
Debt Instrument [Line Items]
Total 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]
Total debt	$ 694	693
Stated interest rate (as a percent)	4.00%				4.00%
Unamortized debt discount and issuance costs	$ 6
Senior Notes \| 4.4% Senior Notes, due 2026
Debt Instrument [Line Items]
Total 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]
Total 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]
Total 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]
Total 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) - Foreign exchange forward contracts $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2019USD ($)
Fair Value Hedging \| Not Designated as Hedging Instrument
Derivative [Line Items]
Aggregate notional value	$ 117	$ 117
Net gain (loss) on derivative	(4)	1
Cash Flow Hedging \| Designated as Hedging Instrument
Derivative [Line Items]
Aggregate notional value	201	$ 201
Maturity of derivatives		12 months
Net gains (losses) related to derivatives recorded in other comprehensive income (loss) expected to be reclassified into earnings		$ (1)
Prepaid and other current assets \| Fair Value Hedging \| Not Designated as Hedging Instrument
Derivative [Line Items]
Aggregate notional value	$ 1	$ 1

Derivative Instruments - Locati

Derivative Instruments - Location and Fair Values of Cash Flow Hedges (Details) - Cash Flow Hedging - Foreign exchange forward contracts - Designated as Hedging Instrument - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Prepaid and other current assets
Derivatives, Fair Value [Line Items]
Derivative, fair value	$ 2	$ 3
Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative, fair value	$ (2)	$ 0

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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion)	$ (3)		$ (3)
Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion)		$ (4)		$ (8)
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)		(3)
Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion)		(3)		(6)
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)	$ 0		$ 4
Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (effective portion)		$ (2)		$ (3)

Derivative Instruments - Change

Derivative Instruments - Change in Unrealized (Losses) Gains in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 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		$ (3)		$ (6)
Net unrealized gains (losses) on cash flow hedges, net of taxes, end of period	$ 346		346
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	4	(1)	4	2
Change in fair value, net of tax	(3)	(5)	1	(9)
Reclassification into earnings, net of tax	0	2	(4)	3
Net unrealized gains (losses) on cash flow hedges, net of taxes, end of period	$ 1	$ (4)	$ 1	$ (4)

Employee Benefits - Narrative (

Employee Benefits - Narrative (Details) $ in Millions	9 Months Ended
Employee Benefits - Narrative (Details) $ in Millions	Sep. 30, 2019USD ($)
Retirement Benefits [Abstract]
Contribution towards retirement plans	$ 44
Expected contributions towards retirement plans, remainder of the year	$ 1

Employee Benefits - Components

Employee Benefits - Components of Net Periodic Benefit Cost (Credit) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Retirement Benefits [Abstract]
Service cost	$ 1	$ 1	$ 2	$ 2
Interest cost	16	18	49	54
Expected return on assets	(27)	(31)	(81)	(94)
Amortization of prior service credit / actuarial loss	3	4	7	13
Net periodic benefit cost	(7)	(8)	(23)	(25)
Settlement charge	0	0	113	0
Net benefit cost	$ (7)	$ (8)	$ 90	$ (25)

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) $ / shares in Units, shares in Millions, $ in Millions	9 Months Ended
	Sep. 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	10 months 24 days
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	$ 213.45
Unrecognized compensation expense	$ 79
Unrecognized compensation expense, period for recognition	1 year 10 months 24 days

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 20	$ 27	$ 53	$ 73
Employee stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	0	1	1	3
Restricted stock and unit awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 20	$ 26	$ 52	$ 70

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($)

Oct. 01, 2019

Aug. 05, 2019

Jul. 31, 2019

Feb. 11, 2019

Jan. 02, 2019

Oct. 29, 2018

Sep. 25, 2018

Mar. 06, 2018

Aug. 31, 2019

Jan. 02, 2019

Sep. 30, 2019

Sep. 30, 2018

Sep. 30, 2019

Sep. 30, 2018

Dec. 04, 2013

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

Total number of shares purchased (shares)

2,000,000

700,000

5,400,000

5,700,000

Average price paid per share (USD per share)

$ 0

$ 205.11

$ 184.51

$ 180.94

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)

5,200,000

Accelerated Share Repurchases, August 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, August 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, 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, 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, August 2019

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

Total number of shares purchased (shares)

1,600,000

Initial Award | Accelerated Share Repurchases, February 2019

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

Total number of shares purchased (shares)

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 (shares)

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 (shares)

4,500,000

Accelerated share repurchases initial delivery percentage (as a percent)

85.00%

Additional Award | Accelerated Share Repurchases, August 2019

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

Total number of shares purchased (shares)

200,000

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

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

Total number of shares purchased (shares)

100,000

Additional Award | Accelerated Share Repurchases, February 2019

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

Total number of shares purchased (shares)

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 (shares)

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 (shares)

600,000

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

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

Total number of shares purchased (shares)

2,000,000

Average price paid per share (USD per share)

$ 253.36

Completed Award | Accelerated Share Repurchases, February 2019

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

Total number of shares purchased (shares)

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 (shares)

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 (shares)

5,100,000

Average price paid per share (USD per share)

$ 197.49

License Agreement | S&P Dow Jones LLC

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

Noncontrolling interest ownership by noncontrolling owners (as a percent)

27.00%

Equity - Share Repurchases (Det

Equity - Share Repurchases (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Oct. 31, 2018	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares purchased (shares)		2	0.7	5.4	5.7
Average price paid per share (USD per share)		$ 0	$ 205.11	$ 184.51	$ 180.94
Total cash utilized		$ 500	$ 13	$ 1,144	$ 1,113
Repurchase of treasury shares	$ 6			1,144	1,108
Total SPGI Equity
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total cash utilized		$ 500	$ 13	$ 1,144	$ 1,113

Equity - Changes to Redeemable

Equity - Changes to Redeemable Noncontrolling Interest (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Increase (Decrease) in Temporary Equity [Roll Forward]
Balance at beginning of period			$ 1,620
Net income attributable to noncontrolling interest	$ 44	$ 36	128	$ 112
Capital contribution from noncontrolling interest			36
Distributions payable to noncontrolling interest			(115)
Redemption value adjustment			356
Balance at end of period	$ 2,025		$ 2,025

Equity - Accumulated Other Comp

Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	$ 570	$ 633	$ 684	$ 768
Balance at end of period	402	955	402	955
Pension and other postretirement benefit plans, tax (less than)	0	1	28	(2)
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(651)	(705)	(742)	(649)
Other comprehensive income before reclassifications			(29)
Reclassifications from accumulated other comprehensive loss to net earnings			87
Net other comprehensive income			58
Balance at end of period	(684)	$ (703)	(684)	$ (703)
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period			(339)
Other comprehensive income before reclassifications			(27)
Reclassifications from accumulated other comprehensive loss to net earnings			0
Net other comprehensive income			(27)
Balance at end of period	(366)		(366)
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			91
Net other comprehensive income			88
Balance at end of period	(319)		(319)
Pension and other postretirement benefit plans, tax (less than)			29
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			1
Reclassifications from accumulated other comprehensive loss to net earnings			(4)
Net other comprehensive income			(3)
Balance at end of period	$ 1		$ 1

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	3 Months Ended		9 Months Ended
Earnings Per Share - Narrative (Details) - shares	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 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)			400,000	800,000

Earnings Per Share - Summary (D

Earnings Per Share - Summary (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Amounts attributable to S&P Global Inc. common shareholders:
Net income	$ 617	$ 495	$ 1,582	$ 1,447
Basic weighted-average number of common shares outstanding (shares)	245	251.3	245.9	251.6
Effect of stock options and other dilutive securities (shares)	1.5	2.2	1.5	2.1
Diluted weighted-average number of common shares outstanding (shares)	246.5	253.5	247.4	253.7
Earnings per share attributable to S&P Global Inc. common shareholders:
Basic (USD per share)	$ 2.52	$ 1.97	$ 6.43	$ 5.75
Diluted (USD per share)	$ 2.50	$ 1.95	$ 6.40	$ 5.70

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) $ in Millions	9 Months Ended
Restructuring - Narrative (Details) $ in Millions	Sep. 30, 2019USD ($)position	Dec. 31, 2018USD ($)
2019 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Workforce reduction \| position	170
Restructuring charges paid	$ 20
Increase (decrease) in restructuring reserve	(4)
Restructuring reserve balance	$ 16
2018 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Workforce reduction \| position	160
Restructuring charges paid	$ 22
Restructuring reserve balance	$ 2	$ 24

Restructuring - Summary (Detail

Restructuring - Summary (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
Restructuring - Summary (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
2019 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded		$ 20
Ending Reserve Balance		16
2018 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded		25
Ending Reserve Balance		2		$ 24
Operating Segments \| Ratings
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded		11
Operating Segments \| Market Intelligence
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded		1
Operating Segments \| Platts
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded		1
Operating Segments \| 2019 Restructuring Plan \| Ratings
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded		11
Ending Reserve Balance		9
Operating Segments \| 2019 Restructuring Plan \| Market Intelligence
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded		1
Ending Reserve Balance		1
Operating Segments \| 2019 Restructuring Plan \| Platts
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded		1
Ending Reserve Balance		0
Operating Segments \| 2018 Restructuring Plan \| Ratings
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded		8
Ending Reserve Balance		0
Operating Segments \| 2018 Restructuring Plan \| Market Intelligence
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded		7
Ending Reserve Balance		1
Operating Segments \| 2018 Restructuring Plan \| Platts
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded		0
Ending Reserve Balance		0
Corporate
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	$ 7	7	$ 7
Corporate \| 2019 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded		7
Ending Reserve Balance		6
Corporate \| 2018 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded		10
Ending Reserve Balance		$ 1

Segment and Related Informati_3

Segment and Related Information - Narrative (Details)	9 Months Ended
Segment and Related Information - Narrative (Details)	Sep. 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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Revenue	$ 1,689	$ 1,546	$ 4,964	$ 4,721
Operating Profit	891	704	2,408	2,086
Amortization of intangibles from acquisitions	29	33	92	91
Operating Segments
Segment Reporting Information [Line Items]
Operating Profit	936	775	2,558	2,262
Operating Segments \| Ratings
Segment Reporting Information [Line Items]
Revenue	789	700	2,286	2,223
Operating Profit	472	395	1,290	1,173
Employee severance charges			11
Legal settlement expenses		73
Amortization of intangibles from acquisitions		1	2	2
Operating Segments \| Market Intelligence
Segment Reporting Information [Line Items]
Revenue	488	466	1,457	1,355
Operating Profit	171	147	462	384
Employee severance charges			1
Amortization of intangibles from acquisitions	19	19	56	55
Gain (loss) on disposal before tax	22		22
Business disposition and employee severance charges		2		2
Operating Segments \| Platts
Segment Reporting Information [Line Items]
Revenue	212	204	632	604
Operating Profit	132	98	333	285
Employee severance charges			1
Amortization of intangibles from acquisitions	2	4	9	13
Gain (loss) on disposal before tax	27		27
Operating Segments \| Indices
Segment Reporting Information [Line Items]
Revenue	232	203	684	621
Operating Profit	161	135	473	420
Amortization of intangibles from acquisitions	1	1	4	4
Corporate
Segment Reporting Information [Line Items]
Revenue	0	5	0	10
Operating Profit	(45)	(71)	(150)	(176)
Employee severance charges		7	7	7
Amortization of intangibles from acquisitions	7	8	21	17
Retention related expenses	6	11	17	23
Lease impairment		11	5	11
Intersegment Elimination
Segment Reporting Information [Line Items]
Revenue	$ (32)	$ (32)	$ (95)	$ (92)

Segment and Related Informati_5

Segment and Related Information - Revenue Disaggregated by Type (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Total revenue	$ 1,689	$ 1,546	$ 4,964	$ 4,721
Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	414	331	1,187	1,112
Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	1,275	1,215	3,777	3,609
Subscription
Disaggregation of Revenue [Line Items]
Total revenue	713	685	2,117	1,978
Non-transaction
Disaggregation of Revenue [Line Items]
Total revenue	355	347	1,043	1,058
Non-subscription / Transaction
Disaggregation of Revenue [Line Items]
Total revenue	414	331	1,187	1,112
Asset-linked fees
Disaggregation of Revenue [Line Items]
Total revenue	153	136	464	411
Sales usage-based royalties
Disaggregation of Revenue [Line Items]
Total revenue	54	47	153	162
Operating Segments \| Ratings
Disaggregation of Revenue [Line Items]
Total revenue	789	700	2,286	2,223
Operating Segments \| Ratings \| Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	402	321	1,148	1,073
Operating Segments \| Ratings \| Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	387	379	1,138	1,150
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	387	379	1,138	1,150
Operating Segments \| Ratings \| Non-subscription / Transaction
Disaggregation of Revenue [Line Items]
Total revenue	402	321	1,148	1,073
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	488	466	1,457	1,355
Operating Segments \| Market Intelligence \| Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	10	8	31	31
Operating Segments \| Market Intelligence \| Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	478	458	1,426	1,324
Operating Segments \| Market Intelligence \| Subscription
Disaggregation of Revenue [Line Items]
Total revenue	477	453	1,416	1,309
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	10	8	31	31
Operating Segments \| Market Intelligence \| Asset-linked fees
Disaggregation of Revenue [Line Items]
Total revenue	1	5	10	15
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	212	204	632	604
Operating Segments \| Platts \| Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	2	2	8	8
Operating Segments \| Platts \| Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	210	202	624	596
Operating Segments \| Platts \| Subscription
Disaggregation of Revenue [Line Items]
Total revenue	194	188	579	556
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	2	2	8	8
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	16	14	45	40
Operating Segments \| Indices
Disaggregation of Revenue [Line Items]
Total revenue	232	203	684	621
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	232	203	684	621
Operating Segments \| Indices \| Subscription
Disaggregation of Revenue [Line Items]
Total revenue	42	39	122	103
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	152	131	454	396
Operating Segments \| Indices \| Sales usage-based royalties
Disaggregation of Revenue [Line Items]
Total revenue	38	33	108	122
Corporate
Disaggregation of Revenue [Line Items]
Total revenue	0	5	0	10
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	10
Corporate \| Subscription
Disaggregation of Revenue [Line Items]
Total revenue	0	5		10
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)	(95)	(92)
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)	(95)	(92)
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)	(95)	(92)
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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 1,689	$ 1,546	$ 4,964	$ 4,721
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	1,013	934	2,974	2,850
European region
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	419	378	1,212	1,159
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	174	160	522	473
Rest of the world
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 83	$ 74	$ 256	$ 239

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 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				$ 100	$ 116
Affiliated Entity
Loss Contingencies [Line Items]
Contribution to noncontrolling interest	$ 20
Minimum
Loss Contingencies [Line Items]
Remaining lease terms				1 year
Maximum
Loss Contingencies [Line Items]
Remaining lease terms				14 years
License Agreement \| CME Group \| S&P DJ Indices
Loss Contingencies [Line Items]
Revenues earned under license agreement		$ 28	$ 28	$ 87	$ 82
Noncontrolling interest ownership by noncontrolling owners (as a percent)		27.00%		27.00%

Commitments and Contingencies_2

Commitments and Contingencies - Location and Amounts of Leases (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Assets
Lease right-of-use assets	$ 660	$ 0
Liabilities
Current lease liabilities	112
Noncurrent lease liabilities	$ 615	$ 0

Commitments and Contingencies_3

Commitments and Contingencies - Components of Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost	$ 39	$ 116
Sublease income	(4)	(13)
Total lease cost	$ 35	$ 103

Commitments and Contingencies_4

Commitments and Contingencies - Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Cash paid for amounts included in the measurement for operating lease liabilities
Operating cash flows from operating leases	$ 39	$ 110
Right-of-use assets obtained in exchange for lease obligations
Operating leases	$ 34	$ 772

Commitments and Contingencies_5

Commitments and Contingencies - Lease Term and Discount Rate (Details)	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Weighted-average remaining lease term (years)	9 years 3 months 18 days
Weighted-average discount rate (as a percent)	4.00%

Commitments and Contingencies_6

Commitments and Contingencies - Maturities of Lease Liabilities (Details) $ in Millions	Sep. 30, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
2019 (Excluding the nine months ended September 30, 2019)	$ 38
2020	128
2021	109
2022	92
2023	77
2024 and beyond	417
Total undiscounted lease payments	861
Less: Imputed interest	134
Present value of lease liabilities	$ 727

Condensed Consolidating Finan_3

Condensed Consolidating Financial Statements - Narrative (Details) - USD ($)	Sep. 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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Condensed Income Statements, Captions [Line Items]
Revenue	$ 1,689	$ 1,546	$ 4,964	$ 4,721
Expenses:
Operating-related expenses	438	410	1,337	1,287
Selling and general expenses	360	379	1,115	1,197
Depreciation	20	20	61	60
Amortization of intangibles	29	33	92	91
Total expenses	847	842	2,605	2,635
Gain on dispositions	(49)	0	(49)	0
Operating profit	891	704	2,408	2,086
Other expense, net	8	(6)	104	(22)
Interest expense (income), net	32	38	105	98
Non-operating intercompany transactions	0	0	0	0
Income before taxes on income	851	672	2,199	2,010
Provision for taxes on income	189	137	482	440
Equity in net income of subsidiaries	0	0	0	0
Net income	662	535	1,717	1,570
Less: net income attributable to noncontrolling interests	(45)	(40)	(135)	(123)
Net income attributable to S&P Global Inc.	617	495	1,582	1,447
Comprehensive income	628	537	1,775	1,506
Eliminations
Condensed Income Statements, Captions [Line Items]
Revenue	(39)	(39)	(116)	(113)
Expenses:
Operating-related expenses	(39)	(39)	(116)	(113)
Selling and general expenses	0	0	0	0
Depreciation	0	0	0	0
Amortization of intangibles	0	0	0	0
Total expenses	(39)	(39)	(116)	(113)
Gain on dispositions	0	0	0	0
Operating profit	0	0	0	0
Other expense, net	0	0	0	0
Interest expense (income), net	0	0	0	0
Non-operating intercompany transactions	13	4	1,195	1,315
Income before taxes on income	(13)	(4)	(1,195)	(1,315)
Provision for taxes on income	0	0	0	0
Equity in net income of subsidiaries	(622)	(440)	(2,868)	(2,804)
Net income	(635)	(444)	(4,063)	(4,119)
Less: net income attributable to noncontrolling interests	(45)	(40)	(135)	(123)
Net income attributable to S&P Global Inc.	(680)	(484)	(4,198)	(4,242)
Comprehensive income	(633)	(441)	(4,062)	(4,118)
S&P Global Inc. \| Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenue	207	196	617	587
Expenses:
Operating-related expenses	40	30	126	105
Selling and general expenses	50	36	124	145
Depreciation	11	11	33	31
Amortization of intangibles	0	0	0	0
Total expenses	101	77	283	281
Gain on dispositions	(49)	0	(49)	0
Operating profit	155	119	383	306
Other expense, net	(5)	(5)	96	(21)
Interest expense (income), net	37	39	115	105
Non-operating intercompany transactions	100	90	291	277
Income before taxes on income	23	(5)	(119)	(55)
Provision for taxes on income	16	(65)	(28)	(52)
Equity in net income of subsidiaries	622	440	2,868	2,804
Net income	629	500	2,777	2,801
Less: net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to S&P Global Inc.	629	500	2,777	2,801
Comprehensive income	632	490	2,869	2,781
Standard & Poor's Financial Services LLC \| Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenue	491	422	1,416	1,318
Expenses:
Operating-related expenses	103	110	330	333
Selling and general expenses	58	79	222	222
Depreciation	3	2	9	6
Amortization of intangibles	0	0	0	0
Total expenses	164	191	561	561
Gain on dispositions	0	0	0	0
Operating profit	327	231	855	757
Other expense, net	0	0	0	0
Interest expense (income), net	0	1	0	2
Non-operating intercompany transactions	(6)	(11)	(42)	(54)
Income before taxes on income	333	241	897	809
Provision for taxes on income	80	94	239	240
Equity in net income of subsidiaries	0	0	0	0
Net income	253	147	658	569
Less: net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to S&P Global Inc.	253	147	658	569
Comprehensive income	253	147	658	569
Non-Guarantor Subsidiaries \| Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenue	1,030	967	3,047	2,929
Expenses:
Operating-related expenses	334	309	997	962
Selling and general expenses	252	264	769	830
Depreciation	6	7	19	23
Amortization of intangibles	29	33	92	91
Total expenses	621	613	1,877	1,906
Gain on dispositions	0	0	0	0
Operating profit	409	354	1,170	1,023
Other expense, net	13	(1)	8	(1)
Interest expense (income), net	(5)	(2)	(10)	(9)
Non-operating intercompany transactions	(107)	(83)	(1,444)	(1,538)
Income before taxes on income	508	440	2,616	2,571
Provision for taxes on income	93	108	271	252
Equity in net income of subsidiaries	0	0	0	0
Net income	415	332	2,345	2,319
Less: net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to S&P Global Inc.	415	332	2,345	2,319
Comprehensive income	$ 376	$ 341	$ 2,310	$ 2,274

Condensed Consolidating Finan_5

Condensed Consolidating Financial Statements - Balance Sheet (Details) - USD ($) $ in Millions	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 1,996		$ 1,917
Restricted cash	23		41
Accounts receivable, net of allowance for doubtful accounts	1,486		1,449
Intercompany receivable	0		0
Prepaid and other current assets	217		197
Total current assets	3,722		3,604
Property and equipment, net of accumulated depreciation	298		270
Right of use assets	660		0
Goodwill	3,515		3,535
Other intangible assets, net	1,427		1,524
Investments in subsidiaries	0		0
Intercompany loans receivable	0		0
Other non-current assets	566		525
Total assets	10,188		9,458
Current liabilities:
Accounts payable	188		211
Intercompany payable	0		0
Accrued compensation and contributions to retirement plans	327		354
Short-term debt	699		0
Income taxes currently payable	114		72
Unearned revenue	1,614		1,641
Other current liabilities	431		351
Total current liabilities	3,373		2,629
Long-term debt	2,966		3,662
Lease liabilities — non-current	615		0
Intercompany loans payable	0		0
Pension and other postretirement benefits	226		229
Other non-current liabilities	581		634
Total liabilities	7,761		7,154
Redeemable noncontrolling interest	2,025		1,620
Equity:
Common stock	294		294
Additional paid-in capital	835		833
Retained income	12,054		11,284
Accumulated other comprehensive loss	(684)		(742)
Less: common stock in treasury	(12,153)		(11,041)
Total equity — controlling interests	346		628
Total equity - noncontrolling interests	56		56
Total equity	402	$ 570	684	$ 955	$ 633	$ 768
Total liabilities and equity	10,188		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	(6,984)		(5,561)
Prepaid and other current assets	0		0
Total current assets	(6,984)		(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	(19,216)		(16,635)
Intercompany loans receivable	(1,461)		(1,773)
Other non-current assets	(1)		0
Total assets	(27,655)		(23,960)
Current liabilities:
Accounts payable	0		0
Intercompany payable	(6,984)		(5,561)
Accrued compensation and contributions to retirement plans	0		0
Short-term debt	0		0
Income taxes currently payable	0		0
Unearned revenue	0		0
Other current liabilities	0		0
Total current liabilities	(6,984)		(5,561)
Long-term debt	0		0
Lease liabilities — non-current	0		0
Intercompany loans payable	(1,460)		(1,773)
Pension and other postretirement benefits	0		0
Other non-current liabilities	(1)		0
Total liabilities	(8,445)		(7,334)
Redeemable noncontrolling interest	2,025		1,620
Equity:
Common stock	(2,378)		(2,279)
Additional paid-in capital	(9,516)		(9,641)
Retained income	(9,442)		(6,439)
Accumulated other comprehensive loss	46		46
Less: common stock in treasury	0		12
Total equity — controlling interests	(21,290)		(18,301)
Total equity - noncontrolling interests	55		55
Total equity	(21,235)		(18,246)
Total liabilities and equity	(27,655)		(23,960)
S&P Global Inc. \| Reportable Legal Entities
Current assets:
Cash and cash equivalents	509		694
Restricted cash	0		0
Accounts receivable, net of allowance for doubtful accounts	248		163
Intercompany receivable	588		550
Prepaid and other current assets	65		58
Total current assets	1,410		1,465
Property and equipment, net of accumulated depreciation	201		192
Right of use assets	415		0
Goodwill	283		261
Other intangible assets, net	0		0
Investments in subsidiaries	11,187		8,599
Intercompany loans receivable	227		130
Other non-current assets	215		194
Total assets	13,938		10,841
Current liabilities:
Accounts payable	80		89
Intercompany payable	5,637		4,453
Accrued compensation and contributions to retirement plans	116		125
Short-term debt	699		0
Income taxes currently payable	33		1
Unearned revenue	275		240
Other current liabilities	194		180
Total current liabilities	7,034		5,088
Long-term debt	2,966		3,662
Lease liabilities — non-current	396		0
Intercompany loans payable	209		114
Pension and other postretirement benefits	160		162
Other non-current liabilities	136		166
Total liabilities	10,901		9,192
Redeemable noncontrolling interest	0		0
Equity:
Common stock	294		294
Additional paid-in capital	60		72
Retained income	15,041		12,622
Accumulated other comprehensive loss	(206)		(299)
Less: common stock in treasury	(12,152)		(11,040)
Total equity — controlling interests	3,037		1,649
Total equity - noncontrolling interests	0		0
Total equity	3,037		1,649
Total liabilities and equity	13,938		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	2,598		2,138
Prepaid and other current assets	0		3
Total current assets	2,793		2,250
Property and equipment, net of accumulated depreciation	1		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	39		45
Total assets	2,841		2,301
Current liabilities:
Accounts payable	8		15
Intercompany payable	52		32
Accrued compensation and contributions to retirement plans	42		33
Short-term debt	0		0
Income taxes currently payable	0		0
Unearned revenue	247		235
Other current liabilities	20		16
Total current liabilities	369		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	81		75
Total liabilities	451		406
Redeemable noncontrolling interest	0		0
Equity:
Common stock	0		0
Additional paid-in capital	627		618
Retained income	1,763		1,277
Accumulated other comprehensive loss	0		0
Less: common stock in treasury	0		0
Total equity — controlling interests	2,390		1,895
Total equity - noncontrolling interests	0		0
Total equity	2,390		1,895
Total liabilities and equity	2,841		2,301
Non-Guarantor Subsidiaries \| Reportable Legal Entities
Current assets:
Cash and cash equivalents	1,487		1,223
Restricted cash	23		41
Accounts receivable, net of allowance for doubtful accounts	1,043		1,177
Intercompany receivable	3,798		2,873
Prepaid and other current assets	152		136
Total current assets	6,503		5,450
Property and equipment, net of accumulated depreciation	96		78
Right of use assets	243		0
Goodwill	3,225		3,265
Other intangible assets, net	1,427		1,524
Investments in subsidiaries	8,023		8,030
Intercompany loans receivable	1,234		1,643
Other non-current assets	313		286
Total assets	21,064		20,276
Current liabilities:
Accounts payable	100		107
Intercompany payable	1,295		1,076
Accrued compensation and contributions to retirement plans	169		196
Short-term debt	0		0
Income taxes currently payable	81		71
Unearned revenue	1,092		1,166
Other current liabilities	217		155
Total current liabilities	2,954		2,771
Long-term debt	0		0
Lease liabilities — non-current	218		0
Intercompany loans payable	1,251		1,659
Pension and other postretirement benefits	66		67
Other non-current liabilities	365		393
Total liabilities	4,854		4,890
Redeemable noncontrolling interest	0		0
Equity:
Common stock	2,378		2,279
Additional paid-in capital	9,664		9,784
Retained income	4,692		3,824
Accumulated other comprehensive loss	(524)		(489)
Less: common stock in treasury	(1)		(13)
Total equity — controlling interests	16,209		15,385
Total equity - noncontrolling interests	1		1
Total equity	16,210		15,386
Total liabilities and equity	$ 21,064		$ 20,276

Condensed Consolidating Finan_6

Condensed Consolidating Financial Statements - Statement of Cash Flows (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Oct. 31, 2018	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Operating Activities:
Net income		$ 662	$ 535	$ 1,717	$ 1,570
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation		20	20	61	60
Amortization of intangibles		29	33	92	91
Provision for losses on accounts receivable				17	16
Deferred income taxes				15	21
Stock-based compensation				53	73
Gain on dispositions		(49)	0	(49)	0
Pension settlement charge, net of taxes				85	0
Other				49	20
Changes in operating assets and liabilities, net of effect of acquisitions:
Accounts receivable				(50)	62
Prepaid and other current assets				(59)	1
Accounts payable and accrued expenses				(54)	(167)
Unearned revenue				(27)	(72)
Accrued legal settlements				(1)	(180)
Other current liabilities				(81)	(18)
Net change in prepaid/accrued income taxes				58	62
Net change in other assets and liabilities				(54)	(138)
Cash provided by operating activities				1,772	1,401
Investing Activities:
Capital expenditures				(77)	(88)
Acquisitions, net of cash acquired				(25)	(263)
Proceeds from dispositions				85	0
Changes in short-term investments				(3)	5
Cash used for investing activities				(20)	(346)
Financing Activities:
Proceeds from issuance of senior notes, net				0	489
Payments on senior notes				0	(403)
Dividends paid to shareholders				(421)	(379)
Distributions to noncontrolling interest holders, net				(100)	(116)
Purchase of CRISIL shares				0	(25)
Repurchase of treasury shares	$ (6)			(1,144)	(1,108)
Exercise of stock options				38	24
Employee withholding tax on share-based payments and other				(57)	(61)
Intercompany financing activities				0	0
Cash used for financing activities				(1,684)	(1,579)
Effect of exchange rate changes on cash				(7)	(52)
Net change in cash, cash equivalents, and restricted cash				61	(576)
Cash, cash equivalents, and restricted cash at beginning of period	2,203			1,958	2,779
Cash, cash equivalents, and restricted cash at end of period		2,019	2,203	2,019	2,203
Eliminations
Operating Activities:
Net income		(635)	(444)	(4,063)	(4,119)
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
Gain on dispositions		0	0	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				(4,063)	(4,119)
Investing Activities:
Capital expenditures				0	0
Acquisitions, net of cash acquired				0	0
Proceeds from dispositions				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				4,063	4,119
Cash used for financing activities				4,063	4,119
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	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		629	500	2,777	2,801
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation		11	11	33	31
Amortization of intangibles		0	0	0	0
Provision for losses on accounts receivable				5	1
Deferred income taxes				4	(3)
Stock-based compensation				17	21
Gain on dispositions		(49)	0	(49)	0
Pension settlement charge, net of taxes				85
Other				12	36
Changes in operating assets and liabilities, net of effect of acquisitions:
Accounts receivable				(90)	10
Prepaid and other current assets				(20)	(11)
Accounts payable and accrued expenses				(17)	(31)
Unearned revenue				35	(20)
Accrued legal settlements				0
Other current liabilities				(62)	(15)
Net change in prepaid/accrued income taxes				49	51
Net change in other assets and liabilities				(56)	(123)
Cash provided by operating activities				2,723	2,748
Investing Activities:
Capital expenditures				(32)	(63)
Acquisitions, net of cash acquired				0	0
Proceeds from dispositions				85
Changes in short-term investments					0
Cash used for investing activities				53	(63)
Financing Activities:
Proceeds from issuance of senior notes, net					489
Payments on senior notes					(403)
Dividends paid to shareholders				(421)	(379)
Distributions to noncontrolling interest holders, net				0	0
Purchase of CRISIL shares					0
Repurchase of treasury shares				(1,144)	(1,108)
Exercise of stock options				36	18
Employee withholding tax on share-based payments and other				(55)	(61)
Intercompany financing activities				(1,377)	(968)
Cash used for financing activities				(2,961)	(2,412)
Effect of exchange rate changes on cash				0	(14)
Net change in cash, cash equivalents, and restricted cash				(185)	259
Cash, cash equivalents, and restricted cash at beginning of period	891			694	632
Cash, cash equivalents, and restricted cash at end of period		509	891	509	891
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		253	147	658	569
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation		3	2	9	6
Amortization of intangibles		0	0	0	0
Provision for losses on accounts receivable				1	1
Deferred income taxes				1	0
Stock-based compensation				9	12
Gain on dispositions		0	0	0	0
Pension settlement charge, net of taxes				0
Other				6	0
Changes in operating assets and liabilities, net of effect of acquisitions:
Accounts receivable				(86)	(15)
Prepaid and other current assets				2	1
Accounts payable and accrued expenses				(1)	(58)
Unearned revenue				21	23
Accrued legal settlements				(1)	0
Other current liabilities				(5)	(8)
Net change in prepaid/accrued income taxes				1	2
Net change in other assets and liabilities				(3)	23
Cash provided by operating activities				612	556
Investing Activities:
Capital expenditures				(3)	(14)
Acquisitions, net of cash acquired				0	0
Proceeds from dispositions				0
Changes in short-term investments					0
Cash used for investing activities				(3)	(14)
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				(609)	(542)
Cash used for financing activities				(609)	(542)
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	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		415	332	2,345	2,319
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation		6	7	19	23
Amortization of intangibles		29	33	92	91
Provision for losses on accounts receivable				11	14
Deferred income taxes				10	24
Stock-based compensation				27	40
Gain on dispositions		0	0	0	0
Pension settlement charge, net of taxes				0
Other				31	(16)
Changes in operating assets and liabilities, net of effect of acquisitions:
Accounts receivable				126	67
Prepaid and other current assets				(41)	11
Accounts payable and accrued expenses				(36)	(78)
Unearned revenue				(83)	(75)
Accrued legal settlements				0	(180)
Other current liabilities				(14)	5
Net change in prepaid/accrued income taxes				8	9
Net change in other assets and liabilities				5	(38)
Cash provided by operating activities				2,500	2,216
Investing Activities:
Capital expenditures				(42)	(11)
Acquisitions, net of cash acquired				(25)	(263)
Proceeds from dispositions
Changes in short-term investments					5
Cash used for investing activities				(70)	(269)
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				(100)	(116)
Purchase of CRISIL shares					(25)
Repurchase of treasury shares				0	0
Exercise of stock options				2	6
Employee withholding tax on share-based payments and other				(2)	0
Intercompany financing activities				(2,077)	(2,609)
Cash used for financing activities				(2,177)	(2,744)
Effect of exchange rate changes on cash				(7)	(38)
Net change in cash, cash equivalents, and restricted cash				246	(835)
Cash, cash equivalents, and restricted cash at beginning of period	$ 1,312			1,264	2,147
Cash, cash equivalents, and restricted cash at end of period		$ 1,510	$ 1,312	$ 1,510	$ 1,312