S&P Global (SPGI) 10-Q 28 Apr 20 2020 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares shares in Millions	3 Months Ended
	Mar. 31, 2020	Apr. 24, 2020
Cover [Abstract]
Entity Central Index Key	0000064040
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
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		240.9

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
Revenue	$ 1,786	$ 1,571
Expenses:
Operating-related expenses	521	473
Selling and general expenses	311	341
Depreciation	20	20
Amortization of intangibles	29	32
Total expenses	881	866
Gain on disposition	(7)	0
Operating profit	912	705
Other expense, net	1	103
Interest expense, net	34	36
Income before taxes on income	877	566
Provision for taxes on income	188	113
Net income	689	453
Less: net income attributable to noncontrolling interests	(50)	(43)
Net income attributable to S&P Global Inc.	$ 639	$ 410
Net income:
Basic (USD per share)	$ 2.64	$ 1.66
Diluted (USD per share)	$ 2.62	$ 1.65
Weighted-average number of common shares outstanding:
Basic (shares)	242.1	246.7
Diluted (shares)	243.3	248.3
Actual shares outstanding at period end (shares)	240.9	246.1

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 689	$ 453
Other comprehensive income:
Foreign currency translation adjustments	(37)	17
Income tax effect	6	2
Foreign currency translation adjustment, net of income tax effect	(31)	19
Pension and other postretirement benefit plans	3	114
Income tax effect	(1)	(28)
Pension and other postretirement benefit plans, net of income tax effect	2	86
Unrealized (loss) gain on forward exchange contracts	(9)	5
Income tax effect	2	(1)
Unrealized gain on investment and forward exchange contracts, net of income tax effect	(7)	4
Comprehensive income	653	562
Less: comprehensive income attributable to nonredeemable noncontrolling interests	(1)	(3)
Less: comprehensive income attributable to redeemable noncontrolling interests	(49)	(40)
Comprehensive income attributable to S&P Global Inc.	$ 603	$ 519

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 1,932	$ 2,866
Restricted cash	20	20
Accounts receivable, net of allowance for doubtful accounts: 2020 - $34; 2019 - $34	1,504	1,577
Prepaid and other current assets	239	249
Total current assets	3,695	4,712
Property and equipment, net of accumulated depreciation: 2020 - $623 ; 2019 - $622	309	320
Right of use assets	652	676
Goodwill	3,703	3,575
Other intangible assets, net	1,439	1,424
Other non-current assets	665	641
Total assets	10,463	11,348
Current liabilities:
Accounts payable	203	190
Accrued compensation and contributions to retirement plans	222	446
Income taxes currently payable	160	68
Unearned revenue	1,897	1,928
Other current liabilities	501	461
Total current liabilities	2,983	3,093
Long-term debt	3,949	3,948
Lease liabilities — non-current	603	620
Pension and other postretirement benefits	258	259
Other non-current liabilities	596	624
Total liabilities	8,389	8,544
Redeemable noncontrolling interest (Note 8)	2,268	2,268
Commitments and contingencies (Note 12)
Equity:
Common stock	294	294
Additional paid-in capital	754	903
Retained income	12,691	12,205
Accumulated other comprehensive loss	(660)	(624)
Less: common stock in treasury	(13,329)	(12,299)
Total (deficit) equity — controlling interests	(250)	479
Total equity — noncontrolling interests	56	57
Total (deficit) equity	(194)	536
Total liabilities and (deficit) equity	$ 10,463	$ 11,348

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 34	$ 34
Accumulated depreciation	$ 623	$ 622

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating Activities:
Net income	$ 689	$ 453
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	20	20
Amortization of intangibles	29	32
Provision for losses on accounts receivable	10	7
Deferred income taxes	(6)	28
Stock-based compensation	11	12
Gain on disposition	(7)	0
Pension settlement charge, net of taxes	0	85
Other	29	8
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:
Accounts receivable	76	(87)
Prepaid and other current assets	(52)	(34)
Accounts payable and accrued expenses	(251)	(161)
Unearned revenue	(12)	(3)
Accrued legal settlements	0	(1)
Other current liabilities	49	(59)
Net change in prepaid/accrued income taxes	125	57
Net change in other assets and liabilities	(30)	(64)
Cash provided by operating activities	680	293
Investing Activities:
Capital expenditures	(11)	(20)
Acquisitions, net of cash acquired	(183)	(1)
Changes in short-term investments	11	0
Cash used for investing activities	(183)	(21)
Financing Activities:
Dividends paid to shareholders	(161)	(141)
Distributions to noncontrolling interest holders, net	(51)	(18)
Repurchase of treasury shares	(1,153)	(644)
Exercise of stock options	8	23
Employee withholding tax on share-based payments	(44)	(49)
Cash used for financing activities	(1,401)	(829)
Effect of exchange rate changes on cash	(30)	35
Net change in cash, cash equivalents, and restricted cash	(934)	(522)
Cash, cash equivalents, and restricted cash at beginning of period	2,886	1,958
Cash, cash equivalents, and restricted cash at end of period	$ 1,952	$ 1,436

Consolidated Statement of (Defi

Consolidated Statement of (Deficit) Equity - USD ($) $ in Millions		Total		Total SPGI (Deficit) 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, 2018		$ 684		$ 628		$ 294	$ 833	$ 11,284	$ (742)	$ (11,041)	$ 56
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income		522	[1]	519	[1]			410	109		3
Dividends		(141)		(141)				(141)
Share repurchases		(644)		(644)						644
Employee stock plans		(14)		(14)			(61)			(47)
Capital contribution from noncontrolling interest		(36)		(36)				(36)
Change in redemption value of redeemable noncontrolling interest		15		15				15
Other		2									2
Balance at end of period at Mar. 31, 2019		388		327		294	772	11,532	(633)	(11,638)	61
Balance at beginning of period at Dec. 31, 2019		536		479		294	903	12,205	(624)	(12,299)	57
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	[1]	604		603				639	(36)		1
Dividends		(161)		(161)				(161)
Share repurchases		(1,153)		(1,153)			(120)			1,033
Employee stock plans		(26)		(26)			(29)			(3)
Change in redemption value of redeemable noncontrolling interest		11		11				11
Other		(5)		(3)				(3)			(2)
Balance at end of period at Mar. 31, 2020		$ (194)		$ (250)		$ 294	$ 754	$ 12,691	$ (660)	$ (13,329)	$ 56
[1]	Excludes comprehensive income of $49 million and $40 million for the three months ended March 31, 2020 and 2019, respectively, attributable to our redeemable noncontrolling interest.

Consolidated Statement of (De_2

Consolidated Statement of (Deficit) Equity (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (USD per share)	$ 0.67	$ 0.57
Net income attributable to noncontrolling interest	$ 49	$ 40

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	3 Months Ended
	Mar. 31, 2020
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. In the first quarter of 2020, we changed our allocation methodology for allocating our centrally managed technology-related expenses to our reportable segments to more accurately reflect each segment's respective usage. Prior-year amounts have been reclassified to conform with current presentation. There was no impact on the Company's consolidated balance sheets, consolidated statements of income and consolidated statements of cash flows as a result of this change. 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, 2019 (our “Form 10-K”). Certain prior-year amounts have been reclassified to conform with current presentation. In the opinion of management, all normal recurring adjustments considered necessary for a fair statement of the results of the interim periods have been included. The operating results for the three months ended March 31, 2020 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 $10 million and $15 million included in our consolidated balance sheets as of March 31, 2020 and December 31, 2019, respectively, 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 March 31, 2020 and December 31, 2019, contract assets were $38 million and $28 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 March 31, 2020 compared to December 31, 2019 is primarily driven by $812 million 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 March 31, 2020, the aggregate amount of the transaction price allocated to remaining performance obligations was $2.0 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 $112 million and $115 million as of March 31, 2020 and December 31, 2019, 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, net The components of other expense, net for the three months ended March 31 are as follows: (in millions) 2020 2019 Other components of net periodic benefit cost 1 $ (9) $ 103 Net loss from investments 10 — Other expense, net $ 1 $ 103 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 three months ended March 31, 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	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures Acquisitions 2020 In February of 2020, CRISIL, included within our Ratings segment, completed the acquisition of Greenwich Associates LLC ("Greenwich"), a leading provider of proprietary benchmarking data, analytics and qualitative, actionable insights that helps financial services firms worldwide measure and improve business performance. The acquisition will complement CRISIL's existing portfolio of products and expand offerings to new segments across financial services including commercial banks and asset and wealth managers. The acquisition of Greenwich is not material to our consolidated financial statements. In January of 2020, we completed the acquisition of the ESG Ratings Business from RobecoSAM, which includes the widely followed SAM* Corporate Sustainability Assessment, an annual evaluation of companies' sustainability practices. The acquisition will bolster our position as the premier resource for essential environmental, social, and governance ("ESG") insights and product solutions for our customers. Through this acquisition, we will be able to offer our customers even more transparent, robust and comprehensive ESG solutions. The acquisition of the ESG Ratings Business is not material to our consolidated financial statements. 2019 During the three months ended March 31, 2019, we did not complete any material acquisitions. Divestitures 2020 In January of 2020, Market Intelligence entered into a strategic alliance to transition S&P Global Market Intelligence's Investor Relations ("IR") webhosting business to Q4 Inc. ("Q4"). This alliance will integrate Market Intelligence's proprietary data into Q4's portfolio of solutions, enabling further opportunities for commercial collaboration. In connection with transitioning its IR webhosting business to Q4, Market Intelligence made a minority investment in Q4. During the three months ended March 31, 2020, we recorded a pre-tax gain of $7 million ($7 million after-tax) in Gain on disposition in the consolidated statement of income related to the sale of IR. 2019 During the three months ended March 31, 2019, we did not complete any dispositions. The operating profit of our businesses that were disposed of for the three months ending March 31, 2020 and 2019 is as follows: (in millions) 2020 2019 Operating profit 1 $ — $ 3 1 The three months ended March 31, 2020 exclude a pre-tax gain on the sale of the IR webhosting business of $7 million.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective income tax rate was 21.5% and 19.9% for the three months ended March 31, 2020 and March 31, 2019, respectively. The increase in 2020 was primarily due to a decrease in the recognition of excess tax benefits associated with share-based payments in the statement of income. At the end of each interim period, we estimate the annual effective tax rate and apply that rate to our ordinary quarterly earnings. The tax expense or benefit related to significant unusual or infrequently occurring items that will be separately reported or reported net of their related tax effect, and are individually computed, is recognized in the interim period in which those items occur. In addition, the effect of changes in enacted tax laws or rates or tax status is recognized in the interim period in which the change occurs. The Company is continuously subject to tax examinations in various jurisdictions. As of March 31, 2020 and December 31, 2019, the total amount of federal, state and local, and foreign unrecognized tax benefits was $126 million and $124 million,

Debt

Debt	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Debt	Debt A summary of long-term debt outstanding is as follows: (in millions) March 31, December 31, 4.0% Senior Notes, due 2025 1 694 694 4.4% Senior Notes, due 2026 2 894 893 2.95% Senior Notes, due 2027 3 493 493 2.5% Senior Notes, due 2029 4 495 495 6.55% Senior Notes, due 2037 5 294 294 4.5% Senior Notes, due 2048 6 490 490 3.25% Senior Notes, due 2049 7 589 589 Long-term debt 3,949 3,948 1 Interest payments are due semiannually on June 15 and December 15, and as of March 31, 2020, the unamortized debt discount and issuance costs total $6 million. 2 Interest payments are due semiannually on February 15 and August 15, and as of March 31, 2020, the unamortized debt discount and issuance costs total $6 million. 3 Interest payments are due semiannually on January 22 and July 22, and as of March 31, 2020, the unamortized debt discount and issuance costs total $7 million. 4 Interest payments are due semiannually on June 1 and December 1, beginning on June 1, 2020, and as of March 31, 2020, the unamortized debt discount and issuance costs total $5 million. 5 Interest payments are due semiannually on May 15 and November 15, and as of March 31, 2020, the unamortized debt discount and issuance costs total $3 million. 6 Interest payments are due semiannually on May 15 and November 15, and as of March 31, 2020, the unamortized debt discount and issuance costs total $10 million. 7 Interest payments are due semiannually on June 1 and December 1, beginning on June 1, 2020 and as of March 31, 2020, the unamortized debt discount and issuance costs total $11 million. The fair value of our total debt borrowings was $4.5 billion as of March 31, 2020 and December 31, 2019, 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 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	3 Months Ended
	Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments Our exposure to market risk includes changes in foreign exchange rates. We have operations in foreign countries where the functional currency is primarily the local currency. For international operations that are determined to be extensions of the parent company, the U.S. dollar is the functional currency. We typically have naturally hedged positions in most countries from a local currency perspective with offsetting assets and liabilities. As of March 31, 2020 and December 31, 2019, we have entered into foreign exchange forward contracts to mitigate or hedge the effect of adverse fluctuations in foreign exchange rates. As of March 31, 2020 and December 31, 2019, we have entered into a cross currency swap contract to hedge a portion of our net investment in a foreign subsidiary against volatility in foreign exchange rates. These contracts are recorded at fair value that is based on foreign currency exchange rates in active markets; therefore, we classify these derivative contracts within Level 2 of the fair value hierarchy. We do not enter into any derivative financial instruments for speculative purposes. Undesignated Derivative Instruments During the three months ended March 31, 2020 and twelve months ended December 31, 2019, we entered into foreign exchange forward contracts in order to mitigate the change in fair value of specific assets and liabilities in the consolidated balance sheet. These forward contracts do not qualify for hedge accounting. As of March 31, 2020 and December 31, 2019, the aggregate notional value of these outstanding forward contracts was $145 million and $116 million, respectively. The changes in fair value of these forward contracts are recorded in prepaid and other assets or other current liabilities in the consolidated balance sheet with their corresponding change in fair value recognized in selling and general expenses in the consolidated statement of income. The amount recorded in other current liabilities as of March 31, 2020 was $7 million. The amount recorded in selling and general expense for the three months ended March 31, 2020 and 2019 related to these contracts was a net loss of $11 million and a net gain of $2 million, respectively. Net Investment Hedge During the three months ended March 31, 2020 and twelve months ended December 31, 2019, we entered into a cross currency swap to hedge a portion of our net investment in a certain European subsidiary against volatility in the Euro/U.S. dollar exchange rate. This swap is designated and qualifies as a hedge of a net investment in a foreign subsidiary and is scheduled to mature in 2024. As of March 31, 2020 and December 31, 2019, the notional value of our outstanding cross currency swap designated as a net investment hedge was $400 million. The changes in the fair value of this swap are recognized in foreign currency translation adjustments, a component of other comprehensive income (loss), and reported in accumulated other comprehensive loss in our consolidated balance sheet. The gain or loss will be subsequently reclassified into net earnings when the hedged net investment is either sold or substantially liquidated. We have elected to assess the effectiveness of our net investment hedge based on changes in spot exchange rates. Accordingly, amounts related to the cross currency swap recognized directly in net income for the three months ended March 31, 2020 represent net periodic interest settlements and accruals, which are recognized in interest expense, net. We recognized net interest income of $3 million for the three months ended March 31, 2020. Cash Flow Hedges During the three months ended March 31, 2020 and twelve months ended December 31, 2019, we entered into a series of foreign exchange forward contracts to hedge a portion of the Indian rupee, British pound, and Euro exposures through the first quarter of 2021 and the fourth quarter of 2020, respectively. These contracts are intended to offset the impact of movement of exchange rates on future revenue and operating costs and are scheduled to mature within twelve months. The changes in the fair value of these contracts are initially reported in accumulated other comprehensive loss in our consolidated balance sheet and are subsequently reclassified into revenue and selling and general expenses in the same period that the hedged transaction affects earnings. As of March 31, 2020, we estimate that $5 million of the net losses 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. As of March 31, 2020 and December 31, 2019, the aggregate notional value of our outstanding foreign exchange forward contracts designated as cash flow hedges was $268 million and $249 million, respectively. The following table provides information on the location and fair value amounts of our cash flow hedges and net investment hedge as of March 31, 2020 and December 31, 2019: (in millions) March 31, December 31, Balance Sheet Location 2020 2019 Derivatives designated as cash flow hedges: Prepaid and other current assets Foreign exchange forward contracts $ — $ 1 Other current liabilities Foreign exchange forward contracts $ 8 $ — Derivative designated as a net investment hedge: Other non-current assets Cross currency swap $ 22 $ — Other non-current liabilities Cross currency swap $ — $ 10 The following table provides information on the location and amounts of pre-tax gains (losses) on our cash flow hedges and net investment hedge for the three months ended March 31: (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) 2020 2019 2020 2019 Cash flow hedges - designated as hedging instruments Foreign exchange forward contracts $ (7) $ 4 Revenue, Selling and general expenses $ (2) $ 2 Net investment hedge - designated as hedging instruments Cross currency swap $ 32 $ — $ — $ — The activity related to the change in unrealized gains (losses) in accumulated other comprehensive loss was as follows for the three months ended March 31: (in millions) Three Months 2020 2019 Cash Flow Hedges Net unrealized gains (losses) on cash flow hedges, net of taxes, beginning of period $ 2 $ 3 Change in fair value, net of tax (9) 6 Reclassification into earnings, net of tax 2 (2) Net unrealized (losses) gains on cash flow hedges, net of taxes, end of period $ (5) $ 7 Net Investment Hedge Net unrealized (losses) gains on net investment hedge, net of taxes, beginning of period $ (8) $ — Change in fair value, net of tax 24 — Reclassification into earnings, net of tax — — Net unrealized gains (losses) on net investment hedges, net of taxes, end of period $ 16 $ —

Employee Benefits

Employee Benefits	3 Months Ended
	Mar. 31, 2020
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 expense (income), net in our consolidated statements of income. The components of net periodic benefit cost for our retirement plans and postretirement plans for the three months ended March 31 are as follows: (in millions) 2020 2019 Service cost $ 1 $ 1 Interest cost 13 19 Expected return on assets (26) (31) Amortization of prior service credit / actuarial loss 4 2 Net periodic benefit cost (8) (9) Settlement charge 1 — 113 Net benefit cost $ (8) $ 104 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 pretax 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 months ended March 31, 2020 and 2019, respectively. As discussed in our Form 10-K, we changed certain discount rate assumptions for our retirement and postretirement plans and our expected return on assets assumption for our retirement plans which became effective on January 1, 2020. The effect of the assumption changes on retirement and postretirement expense for the three months ended March 31, 2020 did not have a material impact to our financial position, results of operations or cash flows. In the first three months of 2020, we contributed $3 million to our retirement plans and expect to make additional required contributions of approximately $8 million to our retirement plans during the remainder of the year. We may elect to make additional non-required contributions depending on investment performance or any potential deterioration of our pension plan status in the remaining nine months of 2020. Financial information shown above is based on market conditions as of December 31, 2019. Significant changes in interest rates, asset values and economic conditions have occurred since then, which could affect the information shown herein, although as of March 31, 2020, market conditions at that time had minimal effect on the funded status of the pension plans due to the plans’ investment policy (primarily fixed income investments intended to track movements in the bonds used to determine the discount rate). Effects of the 2019 novel coronavirus ("COVID-19") on the financial markets, regulations, and plan experience are uncertain and still evolving. The short-term and long-term effects of COVID-19 may have significant effects on future measurements.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2020
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. The 2019 Plan permits the granting of incentive stock options, nonqualified stock options, stock appreciation rights, performance stock, restricted stock and other stock-based awards. For the three months ended March 31, 2020 and 2019, total stock-based compensation expense related to restricted stock and unit awards was $11 million and $12 million, respectively. Total unrecognized compensation expense related to unvested restricted stock and unit awards as of March 31, 2020 was $72 million, which is expected to be recognized over a weighted average period of 1.8 years.

Equity

Equity	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Equity	Equity Stock Repurchases On January 29, 2020, the Board of Directors approved a share repurchase program authorizing the purchase of 30 million shares (the "2020 Repurchase Program"), which was approximately 12% of the total shares of our outstanding common stock at that time. On December 4, 2013, the Board of Directors approved a share repurchase program authorizing the purchase of 50 million shares (the "2013 Repurchase Program"), which was approximately 18% of the total shares of our outstanding common stock at that time. Our purchased shares may be used for general corporate purposes, including the issuance of shares for stock compensation plans and to offset the dilutive effect of the exercise of employee stock options. As of March 31, 2020, 30 million shares remained available under the 2020 Repurchase Program and 1.3 million shares remained available under the 2013 repurchase program. Our 2020 Repurchase Program and 2013 Repurchase Program have no expiration date and purchases under these programs may be made from time to time on the open market and in private transactions, depending on market conditions. We have entered into accelerated share repurchase (“ASR”) agreements with financial institutions to initiate share repurchases of our common stock. Under an ASR agreement, we pay a specified amount to the financial institution and receive an initial delivery of shares. This initial delivery of shares represents the minimum number of shares that we may receive under the agreement. Upon settlement of the ASR agreement, the financial institution delivers additional shares. The total number of shares ultimately delivered, and therefore the average price paid per share, is determined at the end of the applicable purchase period of each ASR agreement based on the volume weighted-average share price, less a discount. We account for our ASR agreements as two transactions: a stock purchase transaction and a forward stock purchase contract. The shares delivered under the ASR agreements resulted in a reduction of outstanding shares used to determine our weighted average common shares outstanding for purposes of calculating basic and diluted earnings per share. The repurchased shares are held in Treasury. The forward stock purchase contracts were classified as equity instruments. The ASR agreements were executed under our 2013 Repurchase Program, approved on December 4, 2013. The terms of each ASR agreement entered for the three months ended March 31, 2020 and 2019, structured as outlined above, are as follows: (in millions, except average price) ASR Agreement Initiation Date ASR Agreement Completion Date Initial Shares Delivered Additional Shares Delivered Total Number of Shares Average Price Paid Per Share Total Cash Utilized February 11, 2020 1 1.3 0.2 1.5 $ — $ 500 February 11, 2020 2 1.4 — 1.4 $ — $ 500 February 11, 2019 3 July 31, 2019 2.2 0.1 2.3 $ 214.65 $ 500 1 The ASR agreement was structured as a capped ASR agreement in which we paid $500 million and received an initial delivery of 1.3 million shares and an additional amount of 0.2 million during the month of February, representing a minimum number of shares of our common stock to be repurchased based on a calculation using a specified capped price per share. 2 The ASR agreement was structured as an uncapped ASR agreement in which we paid $500 million and received an initial delivery of 1.4 million shares, representing 85% of the $500 million at a price equal to the then market price of the Company. 3 The ASR agreement was structured as an uncapped ASR agreement in which we paid $500 million and received an initial delivery of 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. Additionally, we purchased shares of our common stock in the open market for the three months ended March 31 as follows: (in millions, except average price) Total number of shares purchased Average price paid per share Total cash utilized March 31, 2020 0.5 $ 291.99 150 March 31, 2019 0.8 $ 184.51 144 During the three months ended March 31, 2020, we purchased a total of 3.4 million shares for $1,150 million of cash. During the fourth quarter of 2019, we repurchased shares for $3 million, which settled in the first quarter of 2020, resulting in $1,153 million of cash used to repurchase shares. During the three months ended March 31, 2019, we received 3.4 million shares, including 0.4 million shares received in January of 2019 related to our October 29, 2018 ASR agreement, resulting in $644 million of cash used to repurchase shares. 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 (deficit) 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 (deficit) equity. Changes to redeemable noncontrolling interest during the three months ended March 31, 2020 were as follows: (in millions) Balance as of December 31, 2019 $ 2,268 Net income attributable to noncontrolling interest 49 Distributions payable to noncontrolling interest (38) Redemption value adjustment (11) Balance as of March 31, 2020 $ 2,268 Accumulated Other Comprehensive Loss The following table summarizes the changes in the components of accumulated other comprehensive loss for the three months ended March 31, 2020: (in millions) Foreign Currency Translation Adjustments Pension and Postretirement Benefit Plans Unrealized Gain (Loss) on Foreign Forward Exchange Contracts Accumulated Other Comprehensive Loss Balance as of December 31, 2019 $ (321) $ (305) $ 2 $ (624) Other comprehensive (loss) income before reclassifications (31) 1 — (8) (39) Reclassifications from accumulated other comprehensive income (loss) to net earnings — 2 2 1 3 3 Net other comprehensive (loss) income (31) 2 (7) (36) Balance as of March 31, 2020 $ (352) $ (303) $ (5) $ (660) 1 Includes an unrealized gain related to the cross currency swap entered into in December 2019. See note 5 – Derivative Instruments for additional detail of items recognized in accumulated other comprehensive loss. 2 Reflects amortization of net actuarial losses and is net of a tax benefit of $1 million for the three months ended March 31, 2020. See Note 6 — Employee Benefits for additional details of items reclassed from accumulated other comprehensive loss to net earnings. 3 See Note 5 — Derivative Instruments for additional details of items reclassified from accumulated other comprehensive loss to net earnings.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2020
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 three months ended March 31 is as follows: (in millions, except per share amounts) 2020 2019 Amounts attributable to S&P Global Inc. common shareholders: Net income $ 639 $ 410 Basic weighted-average number of common shares outstanding 242.1 246.7 Effect of stock options and other dilutive securities 1.2 1.6 Diluted weighted-average number of common shares outstanding 243.3 248.3 Earnings per share attributable to S&P Global Inc. common shareholders: Net income: Basic $ 2.64 $ 1.66 Diluted $ 2.62 $ 1.65 We have certain stock options and restricted performance shares that are potentially excluded from the computation of diluted EPS. The effect of the potential exercise of stock options is excluded when the average market price of our common stock is lower than the exercise price of the related option during the period or when a net loss exists because the effect would have been antidilutive. Additionally, restricted performance shares are excluded because the necessary vesting conditions had not been met or when a net loss exists. For the three months ended March 31, 2020 and 2019, there were no stock options excluded. Restricted performance shares outstanding of 0.4 million as of March 31, 2020 and 2019 were excluded.

Restructuring

Restructuring	3 Months Ended
	Mar. 31, 2020
Restructuring and Related Activities [Abstract]
Restructuring	RestructuringWe continuously evaluate our cost structure to identify cost savings associated with streamlining our management structure. Our 2020 and 2019 restructuring plan consisted of a company-wide workforce reduction of approximately 70 and 300 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 March 31, 2020 by segment is as follows: 2020 Restructuring Plan 2019 Restructuring Plan (in millions) Initial Charge Recorded Ending Reserve Balance Initial Charge Recorded Ending Reserve Balance Ratings $ — $ — $ 11 $ 4 Market Intelligence 2 1 6 4 Platts — — 1 — Corporate 7 6 7 3 Total $ 9 $ 7 $ 25 $ 11 We recorded a pre-tax restructuring charge of $9 million primarily related to employee severance charges for the 2020 restructuring plan during the three months ended March 31, 2020 and have reduced the reserve by $2 million. The ending reserve balance for the 2019 restructuring plan was $18 million as of December 31, 2019. For the three months ended March 31, 2020, we have reduced the reserve for the 2019 restructuring plan by $7 million. The reductions primarily related to cash payments for employee severance charges.

Segment and Related Information

Segment and Related Information	3 Months Ended
	Mar. 31, 2020
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, net, or interest expense, net, as these are amounts that do not affect the operating results of our reportable segments. In the first quarter of 2020, we changed our allocation methodology for allocating our centrally managed technology-related expenses to our reportable segments to more accurately reflect each segment's respective usage. Prior-year amounts have been reclassified to conform with current presentation. A summary of operating results for the three months ended March 31 is as follows: Revenue (in millions) 2020 2019 Ratings $ 825 $ 696 Market Intelligence 519 482 Platts 215 207 Indices 259 217 Intersegment elimination 1 (32) (31) Total revenue $ 1,786 $ 1,571 Operating Profit (in millions) 2020 2019 Ratings 2 $ 520 $ 368 Market Intelligence 3 147 134 Platts 4 112 99 Indices 5 182 150 Total reportable segments 961 751 Corporate Unallocated Expense 6 (49) (46) Total operating profit $ 912 $ 705 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 for 2019 includes amortization of intangibles from acquisitions of $1 million. 3 Operating profit for 2020 includes a gain on disposition of $7 million and employee severance charges of $2 million. Additionally, operating profit for 2020 and 2019 includes amortization of intangibles from acquisitions of $19 million and $18 million, respectively. 4 Operating profit for 2020 and 2019 includes amortization of intangibles from acquisitions of $2 million and $3 million, respectively. 5 Operating profit for both 2020 and 2019 include amortization of intangibles from acquisitions of $1 million. 6 Operating profit for 2020 includes employee severance charges of $7 million and Kensho retention related expense of $5 million. 2019 includes Kensho retention related expense of $7 million. Operating profit for 2020 and 2019 also includes and amortization of intangibles from acquisitions of $7 million and $8 million, respectively. The following table presents our revenue disaggregated by revenue type for the three months ended March 31: (in millions) Ratings Market Intelligence Platts Indices Intersegment Elimination 1 Total 2020 Subscription $ — $ 505 $ 197 $ 46 $ — $ 748 Non-subscription / Transaction 432 13 1 — — 446 Non-transaction 393 — — — (32) 361 Asset-linked fees — 1 — 159 — 160 Sales usage-based royalties — — 17 54 — 71 Total revenue $ 825 $ 519 $ 215 $ 259 $ (32) $ 1,786 Timing of revenue recognition Services transferred at a point in time $ 432 $ 13 $ 1 $ — $ — $ 446 Services transferred over time 393 506 214 259 (32) 1,340 Total revenue $ 825 $ 519 $ 215 $ 259 $ (32) $ 1,786 (in millions) Ratings Market Intelligence Platts Indices Intersegment Elimination 1 Total 2019 2 Subscription $ — $ 467 $ 191 $ 40 $ — $ 698 Non-subscription / Transaction 324 10 2 — — 336 Non-transaction 372 — — — (31) 341 Asset-linked fees — 5 — 143 — 148 Sales usage-based royalties — — 14 34 — 48 Total revenue $ 696 $ 482 $ 207 $ 217 $ (31) $ 1,571 Timing of revenue recognition Services transferred at a point in time $ 324 $ 10 $ 2 $ — $ — $ 336 Services transferred over time 372 472 205 217 (31) 1,235 Total revenue $ 696 $ 482 $ 207 $ 217 $ (31) $ 1,571 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. 2 In the third quarter of 2019, we reevaluated our transaction and non-transaction presentation which resulted in a reclassification from transaction revenue to non-transaction revenue of $7 million for the first quarter of 2019. The following provides revenue by geographic region for the three months ended March 31: (in millions) 2020 2019 U.S. $ 1,108 $ 943 European region 405 373 Asia 184 169 Rest of the world 89 86 Total $ 1,786 $ 1,571 See Note 2 — Acquisitions and Divestitures and Note 10 — Restructuring for additional actions that impacted the segment operating results.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
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 sheets as of March 31, 2020 and December 31, 2019: (in millions) March 31, December 31, Balance Sheet Location 2020 2019 Assets Right of use assets Lease right-of-use assets $ 652 $ 676 Liabilities Other current liabilities Current lease liabilities 104 112 Lease liabilities — non-current Noncurrent lease liabilities 603 620 The components of lease expense for the three months ended March 31 are as follows: (in millions) 2020 2019 Operating lease cost $ 36 $ 37 Sublease income (4) (4) Total lease cost $ 32 $ 33 Supplemental information related to leases for the three months ended March 31 are as follows: (in millions) 2020 2019 Cash paid for amounts included in the measurement for operating lease liabilities Operating cash flows from operating leases $ 39 $ 35 Right-of-use assets obtained in exchange for lease obligations Operating leases 6 715 Weighted-average remaining lease term and discount rate for our operating leases are as follows: March 31, December 31, 2020 2019 Weighted-average remaining lease term (years) 8.9 9.0 Weighted-average discount rate 3.85 % 3.93 % Maturities of lease liabilities for our operating leases are as follows: (in millions) 2020 (Excluding the three months ended March 31, 2020) $ 100 2021 120 2022 105 2023 87 2024 66 2025 and beyond 357 Total undiscounted lease payments $ 835 Less: Imputed interest 128 Present value of lease liabilities $ 707 Related Party Agreements 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 months ended March 31, 2020 and 2019, S&P Dow Jones Indices LLC earned $47 million and $29 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	3 Months Ended
	Mar. 31, 2020
Accounting Changes and Error Corrections [Abstract]
Recently Issued or Adopted Accounting Standards	Recently Issued or Adopted Accounting Standards In January of 2020, the Financial Accounting Standards Board ("FASB") issued a guidance intended to clarify the interaction of the accounting for equity securities under ASC 321, investments accounted for under the equity method of accounting under ASC 323, and the accounting for certain forward contracts and purchased options accounted for under ASC 815. This guidance could change how the Company accounts for an equity security under the measurement alternative. The guidance is effective for reporting periods beginning after December 15, 2020; however early adoption is permitted. We are currently evaluating the impact of the adoption of this guidance on our consolidated financial statements. In December of 2019, the FASB issued guidance to simplify the accounting for income taxes. The guidance eliminates certain exceptions to the general principles of Topic 740. The guidance is effective for reporting periods after December 15, 2020; however, early adoption is permitted. We are currently evaluating the impact of the adoption of this guidance on our consolidated financial statements. In November of 2018, the 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 was effective on January 1, 2020, and the adoption of this guidance did not have a significant impact 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 was effective on January 1, 2020, 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 was effective on January 1, 2020, and the adoption of this guidance did not have a significant impact on our consolidated financial statements. In June of 2016, the FASB issued guidance amending 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. We adopted this guidance on January 1, 2020. The adoption of this guidance impacted our process for assessing the adequacy of our allowance for doubtful accounts on accounts receivable and contract assets by incorporating data points that provide indicators of future economic conditions including forecasted industry default rates and industry index benchmarks in concert with our historical process contemplating experienced receivable write off rates from past events and current economic conditions. The adoption of this guidance did not have a significant impact on our consolidated financial statements. During the three months ended March 31, 2020, we incorporated the forecasted impact of future economic conditions into our allowance for doubtful accounts measurement process including the expected adverse impact of COVID-19 on the global economy.

Condensed Consolidating Financi

Condensed Consolidating Financial Statements	3 Months Ended
	Mar. 31, 2020
Condensed Financial Information Disclosure [Abstract]
Condensed Consolidating Financial Statements	Condensed Consolidating Financial Statements On November 26, 2019, we issued $500 million of 2.5% senior notes due in 2029 and $600 million of 3.25% senior notes due in 2049. In the fourth quarter of 2019, we used the net proceeds to fund the redemption of the $700 million outstanding principal amount of our 3.3% senior notes due in August of 2020 and a portion of the $400 million outstanding principal amount of our 6.55% senior notes due in October of 2037. 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 March 31, 2020 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 212 $ 525 $ 1,088 $ (39) $ 1,786 Expenses: Operating-related expenses 31 117 412 (39) 521 Selling and general expenses 74 27 210 — 311 Depreciation 11 2 7 — 20 Amortization of intangibles — — 29 — 29 Total expenses 116 146 658 (39) 881 Gain on dispositions — — (7) — (7) Operating profit 96 379 437 — 912 Other (income) expense, net (5) — 6 — 1 Interest expense (income), net 37 — (3) — 34 Non-operating intercompany transactions 103 (13) (564) 474 — Income before taxes on income (39) 392 998 (474) 877 Provision for taxes on income 16 91 81 — 188 Equity in net income of subsidiaries 1,168 — — (1,168) — Net income $ 1,113 $ 301 $ 917 $ (1,642) $ 689 Less: net income attributable to noncontrolling interests — — — (50) (50) Net income attributable to S&P Global Inc. $ 1,113 $ 301 $ 917 $ (1,692) $ 639 Comprehensive income $ 1,146 $ 301 $ 847 $ (1,641) $ 653 Statement of Income Three Months Ended March 31, 2019 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 202 $ 436 $ 971 $ (38) $ 1,571 Expenses: Operating-related expenses 67 117 327 (38) 473 Selling and general expenses (4) 81 264 — 341 Depreciation 11 2 7 — 20 Amortization of intangibles — — 32 — 32 Total expenses 74 200 630 (38) 866 Operating profit 128 236 341 — 705 Other expense (income), net 107 — (4) — 103 Interest expense (income), net 38 — (2) — 36 Non-operating intercompany transactions 96 (16) (103) 23 — Income before taxes on income (113) 252 450 (23) 566 (Benefit) provision for taxes on income (40) 70 83 — 113 Equity in net income of subsidiaries 506 — — (506) — Net income $ 433 $ 182 $ 367 $ (529) $ 453 Less: net income attributable to noncontrolling interests — — — (43) (43) Net income attributable to S&P Global Inc. $ 433 $ 182 $ 367 $ (572) $ 410 Comprehensive income $ 515 $ 182 $ 395 $ (530) $ 562 Balance Sheet March 31, 2020 (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 $ 659 $ — $ 1,273 $ — $ 1,932 Restricted cash — — 20 — 20 Accounts receivable, net of allowance for doubtful accounts 235 232 1,037 — 1,504 Intercompany receivable 716 2,831 4,304 (7,851) — Prepaid and other current assets 84 3 152 — 239 Total current assets 1,694 3,066 6,786 (7,851) 3,695 Property and equipment, net of accumulated depreciation 197 — 112 — 309 Right of use assets 388 2 262 — 652 Goodwill 283 — 3,413 7 3,703 Other intangible assets, net — — 1,439 — 1,439 Investments in subsidiaries 11,985 5 8,075 (20,065) — Intercompany loans receivable 17 — 1,511 (1,528) — Other non-current assets 305 35 326 (1) 665 Total assets $ 14,869 $ 3,108 $ 21,924 $ (29,438) $ 10,463 LIABILITIES AND (DEFICIT) EQUITY Current liabilities: Accounts payable $ 86 $ 10 $ 107 $ — $ 203 Intercompany payable 6,484 92 1,275 (7,851) — Accrued compensation and contributions to retirement plans 102 10 110 — 222 Income taxes currently payable 99 — 61 — 160 Unearned revenue 314 250 1,333 — 1,897 Other current liabilities 214 14 273 — 501 Total current liabilities 7,299 376 3,159 (7,851) 2,983 Long-term debt 3,949 — — — 3,949 Lease liabilities — non-current 373 1 229 — 603 Intercompany loans payable — — 1,528 (1,528) — Pension and other postretirement benefits 176 — 82 — 258 Other non-current liabilities 154 74 368 — 596 Total liabilities 11,951 451 5,366 (9,379) 8,389 Redeemable noncontrolling interest — — — 2,268 2,268 Equity: Common stock 294 — 2,375 (2,375) 294 Additional paid-in capital (46) 633 9,374 (9,207) 754 Retained income 16,139 2,024 5,377 (10,849) 12,691 Accumulated other comprehensive loss (142) — (567) 49 (660) Less: common stock in treasury (13,327) — (2) — (13,329) Total (deficit) equity - controlling interests 2,918 2,657 16,557 (22,382) (250) Total equity - noncontrolling interests — — 1 55 56 Total (deficit) equity 2,918 2,657 16,558 (22,327) (194) Total liabilities and (deficit) equity $ 14,869 $ 3,108 $ 21,924 $ (29,438) $ 10,463 Balance Sheet December 31, 2019 (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 $ 1,130 $ — $ 1,736 $ — $ 2,866 Restricted cash — — 20 — 20 Accounts receivable, net of allowance for doubtful accounts 229 148 1,200 — 1,577 Intercompany receivable 675 2,855 3,983 (7,513) — Prepaid and other current assets 102 2 145 — 249 Total current assets 2,136 3,005 7,084 (7,513) 4,712 Property and equipment, net of accumulated depreciation 204 — 116 — 320 Right of use assets 402 1 273 — 676 Goodwill 283 — 3,283 9 3,575 Other intangible assets, net — — 1,424 — 1,424 Investments in subsidiaries 12,134 6 8,088 (20,228) — Intercompany loans receivable 17 — 1,229 (1,246) — Other non-current assets 281 37 324 (1) 641 Total assets $ 15,457 $ 3,049 $ 21,821 $ (28,979) $ 11,348 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 80 $ 11 $ 99 $ — $ 190 Intercompany payable 6,288 27 1,198 (7,513) — Accrued compensation and contributions to retirement plans 148 61 237 — 446 Income taxes currently payable 7 — 61 — 68 Unearned revenue 297 243 1,388 — 1,928 Other current liabilities 187 18 256 — 461 Total current liabilities 7,007 360 3,239 (7,513) 3,093 Long-term debt 3,948 — — — 3,948 Lease liabilities — non-current 383 1 236 — 620 Intercompany loans payable — — 1,246 (1,246) — Pension and other postretirement benefits 178 — 81 — 259 Other non-current liabilities 171 81 373 (1) 624 Total liabilities 11,687 442 5,175 (8,760) 8,544 Redeemable noncontrolling interest — — — 2,268 2,268 Equity: Common stock 294 — 2,377 (2,377) 294 Additional paid-in capital 112 632 9,362 (9,203) 903 Retained income 15,836 1,975 5,404 (11,010) 12,205 Accumulated other comprehensive loss (175) — (497) 48 (624) Less: common stock in treasury (12,297) — (2) — (12,299) Total equity - controlling interests 3,770 2,607 16,644 (22,542) 479 Total equity - noncontrolling interests — — 2 55 57 Total equity 3,770 2,607 16,646 (22,487) 536 Total liabilities and equity $ 15,457 $ 3,049 $ 21,821 $ (28,979) $ 11,348 Statement of Cash Flows Three Months Ended March 31, 2020 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Operating Activities: Net income $ 1,113 $ 301 $ 917 $ (1,642) $ 689 Adjustments to reconcile net income to cash provided by operating activities: Depreciation 11 2 7 — 20 Amortization of intangibles — — 29 — 29 Provision for losses on accounts receivable 2 3 5 — 10 Deferred income taxes (5) — (1) — (6) Stock-based compensation 4 2 5 — 11 Gain on disposition — — (7) — (7) Other 30 — (1) — 29 Changes in operating assets and liabilities, net of effect of acquisitions: Accounts receivable (8) (82) 166 — 76 Prepaid and other current assets (54) 33 (31) — (52) Accounts payable and accrued expenses (42) (64) (145) — (251) Unearned revenue 18 7 (37) — (12) Other current liabilities 4 21 24 — 49 Net change in prepaid/accrued income taxes 163 (40) 2 — 125 Net change in other assets and liabilities 13 (21) (22) — (30) Cash provided by operating activities 1,249 162 911 (1,642) 680 Investing Activities: Capital expenditures (3) (1) (7) — (11) Acquisitions, net of cash acquired — — (183) — (183) Changes in short-term investments — — 11 — 11 Cash used for investing activities (3) (1) (179) — (183) Financing Activities: Dividends paid to shareholders (161) — — — (161) Distributions to noncontrolling interest holders, net — — (51) — (51) Repurchase of treasury shares (1,153) — — — (1,153) Exercise of stock options 5 — 3 — 8 Employee withholding tax on share-based payments (44) — — — (44) Intercompany financing activities (359) (161) (1,122) 1,642 — Cash used for financing activities (1,712) (161) (1,170) 1,642 (1,401) Effect of exchange rate changes on cash (5) — (25) — (30) Net change in cash, cash equivalents, and restricted cash (471) — (463) — (934) Cash, cash equivalents, and restricted cash at beginning of period 1,130 — 1,756 — 2,886 Cash, cash equivalents, and restricted cash at end of period $ 659 $ — $ 1,293 $ — $ 1,952 Statement of Cash Flows Three Months Ended March 31, 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 $ 433 $ 182 $ 367 $ (529) $ 453 Adjustments to reconcile net income to cash provided by operating activities: Depreciation 11 2 7 — 20 Amortization of intangibles — — 32 — 32 Provision for losses on accounts receivable 2 2 3 — 7 Deferred income taxes 21 — 7 28 Stock-based compensation 2 1 9 — 12 Pension settlement charge, net of taxes 85 — — — 85 Other — — 8 — 8 Changes in operating assets and liabilities, net of effect of acquisitions: Accounts receivable (80) (101) 94 — (87) Prepaid and other current assets (9) (2) (23) — (34) Accounts payable and accrued expenses (45) (18) (98) — (161) Unearned revenue 9 23 (35) — (3) Accrued legal settlements — (1) — — (1) Other current liabilities (54) (1) (4) — (59) Net change in prepaid/accrued income taxes 51 — 6 — 57 Net change in other assets and liabilities (19) (5) (40) — (64) Cash provided by operating activities 407 82 333 (529) 293 Investing Activities: Capital expenditures (8) (4) (8) — (20) Acquisitions, net of cash acquired — — (1) — (1) Cash used for investing activities (8) (4) (9) — (21) Financing Activities: Dividends paid to shareholders (141) — — — (141) Distributions to noncontrolling interest holders, net — — (18) — (18) Repurchase of treasury shares (644) — — — (644) Exercise of stock options 23 — — — 23 Employee withholding tax on share-based payments (49) — — — (49) Intercompany financing activities (130) (78) (321) 529 — Cash used for financing activities (941) (78) (339) 529 (829) Effect of exchange rate changes on cash (6) — 41 — 35 Net change in cash, cash equivalents, and restricted cash (548) — 26 — (522) 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 $ 146 $ — $ 1,290 $ — $ 1,436

Nature of Operations and Basi_2

Nature of Operations and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2020
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, 2019 (our “Form 10-K”). Certain prior-year amounts have been reclassified to conform with current presentation. In the opinion of management, all normal recurring adjustments considered necessary for a fair statement of the results of the interim periods have been included. The operating results for the three months ended March 31, 2020 are not necessarily indicative of the results that may be expected for the full year.
Use of Estimates	On an ongoing basis, we evaluate our estimates and assumptions, including those related to revenue recognition, allowance for doubtful accounts, valuation of long-lived assets, goodwill and other intangible assets, pension plans, incentive compensation and stock-based compensation, income taxes, contingencies and redeemable noncontrolling interests.
Recently Issued or Adopted Accounting Standards	Recently Issued or Adopted Accounting Standards In January of 2020, the Financial Accounting Standards Board ("FASB") issued a guidance intended to clarify the interaction of the accounting for equity securities under ASC 321, investments accounted for under the equity method of accounting under ASC 323, and the accounting for certain forward contracts and purchased options accounted for under ASC 815. This guidance could change how the Company accounts for an equity security under the measurement alternative. The guidance is effective for reporting periods beginning after December 15, 2020; however early adoption is permitted. We are currently evaluating the impact of the adoption of this guidance on our consolidated financial statements. In December of 2019, the FASB issued guidance to simplify the accounting for income taxes. The guidance eliminates certain exceptions to the general principles of Topic 740. The guidance is effective for reporting periods after December 15, 2020; however, early adoption is permitted. We are currently evaluating the impact of the adoption of this guidance on our consolidated financial statements. In November of 2018, the 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 was effective on January 1, 2020, and the adoption of this guidance did not have a significant impact 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 was effective on January 1, 2020, 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 was effective on January 1, 2020, and the adoption of this guidance did not have a significant impact on our consolidated financial statements. In June of 2016, the FASB issued guidance amending 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. We adopted this guidance on January 1, 2020. The adoption of this guidance impacted our process for assessing the adequacy of our allowance for doubtful accounts on accounts receivable and contract assets by incorporating data points that provide indicators of future economic conditions including forecasted industry default rates and industry index benchmarks in concert with our historical process contemplating experienced receivable write off rates from past events and current economic conditions. The adoption of this guidance did not have a significant impact on our consolidated financial statements. During the three months ended March 31, 2020, we incorporated the forecasted impact of future economic conditions into our allowance for doubtful accounts measurement process including the expected adverse impact of COVID-19 on the global economy.

Nature of Operations and Basi_3

Nature of Operations and Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Components of Other Income, Net	The components of other expense, net for the three months ended March 31 are as follows: (in millions) 2020 2019 Other components of net periodic benefit cost 1 $ (9) $ 103 Net loss from investments 10 — Other expense, net $ 1 $ 103 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 three months ended March 31, 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)	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
Schedule of Operating Profit of Business Held-for-Sale	The operating profit of our businesses that were disposed of for the three months ending March 31, 2020 and 2019 is as follows: (in millions) 2020 2019 Operating profit 1 $ — $ 3 1 The three months ended March 31, 2020 exclude a pre-tax gain on the sale of the IR webhosting business of $7 million.

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Schedule of Debt	A summary of long-term debt outstanding is as follows: (in millions) March 31, December 31, 4.0% Senior Notes, due 2025 1 694 694 4.4% Senior Notes, due 2026 2 894 893 2.95% Senior Notes, due 2027 3 493 493 2.5% Senior Notes, due 2029 4 495 495 6.55% Senior Notes, due 2037 5 294 294 4.5% Senior Notes, due 2048 6 490 490 3.25% Senior Notes, due 2049 7 589 589 Long-term debt 3,949 3,948 1 Interest payments are due semiannually on June 15 and December 15, and as of March 31, 2020, the unamortized debt discount and issuance costs total $6 million. 2 Interest payments are due semiannually on February 15 and August 15, and as of March 31, 2020, the unamortized debt discount and issuance costs total $6 million. 3 Interest payments are due semiannually on January 22 and July 22, and as of March 31, 2020, the unamortized debt discount and issuance costs total $7 million. 4 Interest payments are due semiannually on June 1 and December 1, beginning on June 1, 2020, and as of March 31, 2020, the unamortized debt discount and issuance costs total $5 million. 5 Interest payments are due semiannually on May 15 and November 15, and as of March 31, 2020, the unamortized debt discount and issuance costs total $3 million. 6 Interest payments are due semiannually on May 15 and November 15, and as of March 31, 2020, the unamortized debt discount and issuance costs total $10 million. 7 Interest payments are due semiannually on June 1 and December 1, beginning on June 1, 2020 and as of March 31, 2020, the unamortized debt discount and issuance costs total $11 million.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2020
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 and net investment hedge as of March 31, 2020 and December 31, 2019: (in millions) March 31, December 31, Balance Sheet Location 2020 2019 Derivatives designated as cash flow hedges: Prepaid and other current assets Foreign exchange forward contracts $ — $ 1 Other current liabilities Foreign exchange forward contracts $ 8 $ — Derivative designated as a net investment hedge: Other non-current assets Cross currency swap $ 22 $ — Other non-current liabilities Cross currency swap $ — $ 10
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 and net investment hedge for the three months ended March 31: (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) 2020 2019 2020 2019 Cash flow hedges - designated as hedging instruments Foreign exchange forward contracts $ (7) $ 4 Revenue, Selling and general expenses $ (2) $ 2 Net investment hedge - designated as hedging instruments Cross currency swap $ 32 $ — $ — $ —
Schedule of Change in Unrealized Gains (Losses) in Accumulated Other Comprehensive Loss	The activity related to the change in unrealized gains (losses) in accumulated other comprehensive loss was as follows for the three months ended March 31: (in millions) Three Months 2020 2019 Cash Flow Hedges Net unrealized gains (losses) on cash flow hedges, net of taxes, beginning of period $ 2 $ 3 Change in fair value, net of tax (9) 6 Reclassification into earnings, net of tax 2 (2) Net unrealized (losses) gains on cash flow hedges, net of taxes, end of period $ (5) $ 7 Net Investment Hedge Net unrealized (losses) gains on net investment hedge, net of taxes, beginning of period $ (8) $ — Change in fair value, net of tax 24 — Reclassification into earnings, net of tax — — Net unrealized gains (losses) on net investment hedges, net of taxes, end of period $ 16 $ —

Employee Benefits (Tables)

Employee Benefits (Tables)	3 Months Ended
	Mar. 31, 2020
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 three months ended March 31 are as follows: (in millions) 2020 2019 Service cost $ 1 $ 1 Interest cost 13 19 Expected return on assets (26) (31) Amortization of prior service credit / actuarial loss 4 2 Net periodic benefit cost (8) (9) Settlement charge 1 — 113 Net benefit cost $ (8) $ 104 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 pretax settlement charge reflects the accelerated recognition of a portion of unamortized actuarial losses in the plan.

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Schedule of Share Repurchases	The terms of each ASR agreement entered for the three months ended March 31, 2020 and 2019, structured as outlined above, are as follows: (in millions, except average price) ASR Agreement Initiation Date ASR Agreement Completion Date Initial Shares Delivered Additional Shares Delivered Total Number of Shares Average Price Paid Per Share Total Cash Utilized February 11, 2020 1 1.3 0.2 1.5 $ — $ 500 February 11, 2020 2 1.4 — 1.4 $ — $ 500 February 11, 2019 3 July 31, 2019 2.2 0.1 2.3 $ 214.65 $ 500 1 The ASR agreement was structured as a capped ASR agreement in which we paid $500 million and received an initial delivery of 1.3 million shares and an additional amount of 0.2 million during the month of February, representing a minimum number of shares of our common stock to be repurchased based on a calculation using a specified capped price per share. 2 The ASR agreement was structured as an uncapped ASR agreement in which we paid $500 million and received an initial delivery of 1.4 million shares, representing 85% of the $500 million at a price equal to the then market price of the Company. 3 The ASR agreement was structured as an uncapped ASR agreement in which we paid $500 million and received an initial delivery of 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. Additionally, we purchased shares of our common stock in the open market for the three months ended March 31 as follows: (in millions, except average price) Total number of shares purchased Average price paid per share Total cash utilized March 31, 2020 0.5 $ 291.99 150 March 31, 2019 0.8 $ 184.51 144
Schedule of Redeemable Noncontrolling Interest	Changes to redeemable noncontrolling interest during the three months ended March 31, 2020 were as follows: (in millions) Balance as of December 31, 2019 $ 2,268 Net income attributable to noncontrolling interest 49 Distributions payable to noncontrolling interest (38) Redemption value adjustment (11) Balance as of March 31, 2020 $ 2,268
Schedule of Changes in the Components of Accumulated Other Comprehensive Loss	The following table summarizes the changes in the components of accumulated other comprehensive loss for the three months ended March 31, 2020: (in millions) Foreign Currency Translation Adjustments Pension and Postretirement Benefit Plans Unrealized Gain (Loss) on Foreign Forward Exchange Contracts Accumulated Other Comprehensive Loss Balance as of December 31, 2019 $ (321) $ (305) $ 2 $ (624) Other comprehensive (loss) income before reclassifications (31) 1 — (8) (39) Reclassifications from accumulated other comprehensive income (loss) to net earnings — 2 2 1 3 3 Net other comprehensive (loss) income (31) 2 (7) (36) Balance as of March 31, 2020 $ (352) $ (303) $ (5) $ (660) 1 Includes an unrealized gain related to the cross currency swap entered into in December 2019. See note 5 – Derivative Instruments for additional detail of items recognized in accumulated other comprehensive loss. 2 Reflects amortization of net actuarial losses and is net of a tax benefit of $1 million for the three months ended March 31, 2020. See Note 6 — Employee Benefits for additional details of items reclassed from accumulated other comprehensive loss to net earnings. 3 See Note 5 — Derivative Instruments for additional details of items reclassified from accumulated other comprehensive loss to net earnings.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Schedule of Calculation for Basic and Diluted Earnings Per Share	The calculation of basic and diluted EPS for the three months ended March 31 is as follows: (in millions, except per share amounts) 2020 2019 Amounts attributable to S&P Global Inc. common shareholders: Net income $ 639 $ 410 Basic weighted-average number of common shares outstanding 242.1 246.7 Effect of stock options and other dilutive securities 1.2 1.6 Diluted weighted-average number of common shares outstanding 243.3 248.3 Earnings per share attributable to S&P Global Inc. common shareholders: Net income: Basic $ 2.64 $ 1.66 Diluted $ 2.62 $ 1.65

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	Mar. 31, 2020
Restructuring and Related Activities [Abstract]
Schedule of Initial Restructuring Charge Recorded and the Ending Reserve Balance	The initial restructuring charge recorded and the ending reserve balance as of March 31, 2020 by segment is as follows: 2020 Restructuring Plan 2019 Restructuring Plan (in millions) Initial Charge Recorded Ending Reserve Balance Initial Charge Recorded Ending Reserve Balance Ratings $ — $ — $ 11 $ 4 Market Intelligence 2 1 6 4 Platts — — 1 — Corporate 7 6 7 3 Total $ 9 $ 7 $ 25 $ 11

Segment and Related Informati_2

Segment and Related Information (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Schedule of Operating Results by Segment	A summary of operating results for the three months ended March 31 is as follows: Revenue (in millions) 2020 2019 Ratings $ 825 $ 696 Market Intelligence 519 482 Platts 215 207 Indices 259 217 Intersegment elimination 1 (32) (31) Total revenue $ 1,786 $ 1,571 Operating Profit (in millions) 2020 2019 Ratings 2 $ 520 $ 368 Market Intelligence 3 147 134 Platts 4 112 99 Indices 5 182 150 Total reportable segments 961 751 Corporate Unallocated Expense 6 (49) (46) Total operating profit $ 912 $ 705 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 for 2019 includes amortization of intangibles from acquisitions of $1 million. 3 Operating profit for 2020 includes a gain on disposition of $7 million and employee severance charges of $2 million. Additionally, operating profit for 2020 and 2019 includes amortization of intangibles from acquisitions of $19 million and $18 million, respectively. 4 Operating profit for 2020 and 2019 includes amortization of intangibles from acquisitions of $2 million and $3 million, respectively. 5 Operating profit for both 2020 and 2019 include amortization of intangibles from acquisitions of $1 million.
Schedule of Revenue Disaggregated by Type	The following table presents our revenue disaggregated by revenue type for the three months ended March 31: (in millions) Ratings Market Intelligence Platts Indices Intersegment Elimination 1 Total 2020 Subscription $ — $ 505 $ 197 $ 46 $ — $ 748 Non-subscription / Transaction 432 13 1 — — 446 Non-transaction 393 — — — (32) 361 Asset-linked fees — 1 — 159 — 160 Sales usage-based royalties — — 17 54 — 71 Total revenue $ 825 $ 519 $ 215 $ 259 $ (32) $ 1,786 Timing of revenue recognition Services transferred at a point in time $ 432 $ 13 $ 1 $ — $ — $ 446 Services transferred over time 393 506 214 259 (32) 1,340 Total revenue $ 825 $ 519 $ 215 $ 259 $ (32) $ 1,786 (in millions) Ratings Market Intelligence Platts Indices Intersegment Elimination 1 Total 2019 2 Subscription $ — $ 467 $ 191 $ 40 $ — $ 698 Non-subscription / Transaction 324 10 2 — — 336 Non-transaction 372 — — — (31) 341 Asset-linked fees — 5 — 143 — 148 Sales usage-based royalties — — 14 34 — 48 Total revenue $ 696 $ 482 $ 207 $ 217 $ (31) $ 1,571 Timing of revenue recognition Services transferred at a point in time $ 324 $ 10 $ 2 $ — $ — $ 336 Services transferred over time 372 472 205 217 (31) 1,235 Total revenue $ 696 $ 482 $ 207 $ 217 $ (31) $ 1,571 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. 2 In the third quarter of 2019, we reevaluated our transaction and non-transaction presentation which resulted in a reclassification from transaction revenue to non-transaction revenue of $7 million for the first quarter of 2019.
Schedule of Revenue by Geographic Region	The following provides revenue by geographic region for the three months ended March 31: (in millions) 2020 2019 U.S. $ 1,108 $ 943 European region 405 373 Asia 184 169 Rest of the world 89 86 Total $ 1,786 $ 1,571

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2020
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 sheets as of March 31, 2020 and December 31, 2019: (in millions) March 31, December 31, Balance Sheet Location 2020 2019 Assets Right of use assets Lease right-of-use assets $ 652 $ 676 Liabilities Other current liabilities Current lease liabilities 104 112 Lease liabilities — non-current Noncurrent lease liabilities 603 620
Schedule of Components of Lease Expense and Supplemental Cash Flow Information	The components of lease expense for the three months ended March 31 are as follows: (in millions) 2020 2019 Operating lease cost $ 36 $ 37 Sublease income (4) (4) Total lease cost $ 32 $ 33 Supplemental information related to leases for the three months ended March 31 are as follows: (in millions) 2020 2019 Cash paid for amounts included in the measurement for operating lease liabilities Operating cash flows from operating leases $ 39 $ 35 Right-of-use assets obtained in exchange for lease obligations Operating leases 6 715
Schedule of Lease Term and Discount Rate	Weighted-average remaining lease term and discount rate for our operating leases are as follows: March 31, December 31, 2020 2019 Weighted-average remaining lease term (years) 8.9 9.0 Weighted-average discount rate 3.85 % 3.93 %
Schedule of Maturities of Operating Lease Liabilities	Maturities of lease liabilities for our operating leases are as follows: (in millions) 2020 (Excluding the three months ended March 31, 2020) $ 100 2021 120 2022 105 2023 87 2024 66 2025 and beyond 357 Total undiscounted lease payments $ 835 Less: Imputed interest 128 Present value of lease liabilities $ 707

Condensed Consolidating Finan_2

Condensed Consolidating Financial Statements (Tables)	3 Months Ended
	Mar. 31, 2020
Condensed Financial Information Disclosure [Abstract]
Schedule of Statement of Income	Statement of Income Three Months Ended March 31, 2020 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 212 $ 525 $ 1,088 $ (39) $ 1,786 Expenses: Operating-related expenses 31 117 412 (39) 521 Selling and general expenses 74 27 210 — 311 Depreciation 11 2 7 — 20 Amortization of intangibles — — 29 — 29 Total expenses 116 146 658 (39) 881 Gain on dispositions — — (7) — (7) Operating profit 96 379 437 — 912 Other (income) expense, net (5) — 6 — 1 Interest expense (income), net 37 — (3) — 34 Non-operating intercompany transactions 103 (13) (564) 474 — Income before taxes on income (39) 392 998 (474) 877 Provision for taxes on income 16 91 81 — 188 Equity in net income of subsidiaries 1,168 — — (1,168) — Net income $ 1,113 $ 301 $ 917 $ (1,642) $ 689 Less: net income attributable to noncontrolling interests — — — (50) (50) Net income attributable to S&P Global Inc. $ 1,113 $ 301 $ 917 $ (1,692) $ 639 Comprehensive income $ 1,146 $ 301 $ 847 $ (1,641) $ 653 Statement of Income Three Months Ended March 31, 2019 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Revenue $ 202 $ 436 $ 971 $ (38) $ 1,571 Expenses: Operating-related expenses 67 117 327 (38) 473 Selling and general expenses (4) 81 264 — 341 Depreciation 11 2 7 — 20 Amortization of intangibles — — 32 — 32 Total expenses 74 200 630 (38) 866 Operating profit 128 236 341 — 705 Other expense (income), net 107 — (4) — 103 Interest expense (income), net 38 — (2) — 36 Non-operating intercompany transactions 96 (16) (103) 23 — Income before taxes on income (113) 252 450 (23) 566 (Benefit) provision for taxes on income (40) 70 83 — 113 Equity in net income of subsidiaries 506 — — (506) — Net income $ 433 $ 182 $ 367 $ (529) $ 453 Less: net income attributable to noncontrolling interests — — — (43) (43) Net income attributable to S&P Global Inc. $ 433 $ 182 $ 367 $ (572) $ 410 Comprehensive income $ 515 $ 182 $ 395 $ (530) $ 562
Schedule of Balance Sheet	Balance Sheet March 31, 2020 (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 $ 659 $ — $ 1,273 $ — $ 1,932 Restricted cash — — 20 — 20 Accounts receivable, net of allowance for doubtful accounts 235 232 1,037 — 1,504 Intercompany receivable 716 2,831 4,304 (7,851) — Prepaid and other current assets 84 3 152 — 239 Total current assets 1,694 3,066 6,786 (7,851) 3,695 Property and equipment, net of accumulated depreciation 197 — 112 — 309 Right of use assets 388 2 262 — 652 Goodwill 283 — 3,413 7 3,703 Other intangible assets, net — — 1,439 — 1,439 Investments in subsidiaries 11,985 5 8,075 (20,065) — Intercompany loans receivable 17 — 1,511 (1,528) — Other non-current assets 305 35 326 (1) 665 Total assets $ 14,869 $ 3,108 $ 21,924 $ (29,438) $ 10,463 LIABILITIES AND (DEFICIT) EQUITY Current liabilities: Accounts payable $ 86 $ 10 $ 107 $ — $ 203 Intercompany payable 6,484 92 1,275 (7,851) — Accrued compensation and contributions to retirement plans 102 10 110 — 222 Income taxes currently payable 99 — 61 — 160 Unearned revenue 314 250 1,333 — 1,897 Other current liabilities 214 14 273 — 501 Total current liabilities 7,299 376 3,159 (7,851) 2,983 Long-term debt 3,949 — — — 3,949 Lease liabilities — non-current 373 1 229 — 603 Intercompany loans payable — — 1,528 (1,528) — Pension and other postretirement benefits 176 — 82 — 258 Other non-current liabilities 154 74 368 — 596 Total liabilities 11,951 451 5,366 (9,379) 8,389 Redeemable noncontrolling interest — — — 2,268 2,268 Equity: Common stock 294 — 2,375 (2,375) 294 Additional paid-in capital (46) 633 9,374 (9,207) 754 Retained income 16,139 2,024 5,377 (10,849) 12,691 Accumulated other comprehensive loss (142) — (567) 49 (660) Less: common stock in treasury (13,327) — (2) — (13,329) Total (deficit) equity - controlling interests 2,918 2,657 16,557 (22,382) (250) Total equity - noncontrolling interests — — 1 55 56 Total (deficit) equity 2,918 2,657 16,558 (22,327) (194) Total liabilities and (deficit) equity $ 14,869 $ 3,108 $ 21,924 $ (29,438) $ 10,463 Balance Sheet December 31, 2019 (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 $ 1,130 $ — $ 1,736 $ — $ 2,866 Restricted cash — — 20 — 20 Accounts receivable, net of allowance for doubtful accounts 229 148 1,200 — 1,577 Intercompany receivable 675 2,855 3,983 (7,513) — Prepaid and other current assets 102 2 145 — 249 Total current assets 2,136 3,005 7,084 (7,513) 4,712 Property and equipment, net of accumulated depreciation 204 — 116 — 320 Right of use assets 402 1 273 — 676 Goodwill 283 — 3,283 9 3,575 Other intangible assets, net — — 1,424 — 1,424 Investments in subsidiaries 12,134 6 8,088 (20,228) — Intercompany loans receivable 17 — 1,229 (1,246) — Other non-current assets 281 37 324 (1) 641 Total assets $ 15,457 $ 3,049 $ 21,821 $ (28,979) $ 11,348 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 80 $ 11 $ 99 $ — $ 190 Intercompany payable 6,288 27 1,198 (7,513) — Accrued compensation and contributions to retirement plans 148 61 237 — 446 Income taxes currently payable 7 — 61 — 68 Unearned revenue 297 243 1,388 — 1,928 Other current liabilities 187 18 256 — 461 Total current liabilities 7,007 360 3,239 (7,513) 3,093 Long-term debt 3,948 — — — 3,948 Lease liabilities — non-current 383 1 236 — 620 Intercompany loans payable — — 1,246 (1,246) — Pension and other postretirement benefits 178 — 81 — 259 Other non-current liabilities 171 81 373 (1) 624 Total liabilities 11,687 442 5,175 (8,760) 8,544 Redeemable noncontrolling interest — — — 2,268 2,268 Equity: Common stock 294 — 2,377 (2,377) 294 Additional paid-in capital 112 632 9,362 (9,203) 903 Retained income 15,836 1,975 5,404 (11,010) 12,205 Accumulated other comprehensive loss (175) — (497) 48 (624) Less: common stock in treasury (12,297) — (2) — (12,299) Total equity - controlling interests 3,770 2,607 16,644 (22,542) 479 Total equity - noncontrolling interests — — 2 55 57 Total equity 3,770 2,607 16,646 (22,487) 536 Total liabilities and equity $ 15,457 $ 3,049 $ 21,821 $ (28,979) $ 11,348
Schedule of Statement of Cash Flows	Statement of Cash Flows Three Months Ended March 31, 2020 (Unaudited) (in millions) S&P Global Inc. Standard & Poor's Financial Services LLC Non-Guarantor Subsidiaries Eliminations S&P Global Inc. Consolidated Operating Activities: Net income $ 1,113 $ 301 $ 917 $ (1,642) $ 689 Adjustments to reconcile net income to cash provided by operating activities: Depreciation 11 2 7 — 20 Amortization of intangibles — — 29 — 29 Provision for losses on accounts receivable 2 3 5 — 10 Deferred income taxes (5) — (1) — (6) Stock-based compensation 4 2 5 — 11 Gain on disposition — — (7) — (7) Other 30 — (1) — 29 Changes in operating assets and liabilities, net of effect of acquisitions: Accounts receivable (8) (82) 166 — 76 Prepaid and other current assets (54) 33 (31) — (52) Accounts payable and accrued expenses (42) (64) (145) — (251) Unearned revenue 18 7 (37) — (12) Other current liabilities 4 21 24 — 49 Net change in prepaid/accrued income taxes 163 (40) 2 — 125 Net change in other assets and liabilities 13 (21) (22) — (30) Cash provided by operating activities 1,249 162 911 (1,642) 680 Investing Activities: Capital expenditures (3) (1) (7) — (11) Acquisitions, net of cash acquired — — (183) — (183) Changes in short-term investments — — 11 — 11 Cash used for investing activities (3) (1) (179) — (183) Financing Activities: Dividends paid to shareholders (161) — — — (161) Distributions to noncontrolling interest holders, net — — (51) — (51) Repurchase of treasury shares (1,153) — — — (1,153) Exercise of stock options 5 — 3 — 8 Employee withholding tax on share-based payments (44) — — — (44) Intercompany financing activities (359) (161) (1,122) 1,642 — Cash used for financing activities (1,712) (161) (1,170) 1,642 (1,401) Effect of exchange rate changes on cash (5) — (25) — (30) Net change in cash, cash equivalents, and restricted cash (471) — (463) — (934) Cash, cash equivalents, and restricted cash at beginning of period 1,130 — 1,756 — 2,886 Cash, cash equivalents, and restricted cash at end of period $ 659 $ — $ 1,293 $ — $ 1,952 Statement of Cash Flows Three Months Ended March 31, 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 $ 433 $ 182 $ 367 $ (529) $ 453 Adjustments to reconcile net income to cash provided by operating activities: Depreciation 11 2 7 — 20 Amortization of intangibles — — 32 — 32 Provision for losses on accounts receivable 2 2 3 — 7 Deferred income taxes 21 — 7 28 Stock-based compensation 2 1 9 — 12 Pension settlement charge, net of taxes 85 — — — 85 Other — — 8 — 8 Changes in operating assets and liabilities, net of effect of acquisitions: Accounts receivable (80) (101) 94 — (87) Prepaid and other current assets (9) (2) (23) — (34) Accounts payable and accrued expenses (45) (18) (98) — (161) Unearned revenue 9 23 (35) — (3) Accrued legal settlements — (1) — — (1) Other current liabilities (54) (1) (4) — (59) Net change in prepaid/accrued income taxes 51 — 6 — 57 Net change in other assets and liabilities (19) (5) (40) — (64) Cash provided by operating activities 407 82 333 (529) 293 Investing Activities: Capital expenditures (8) (4) (8) — (20) Acquisitions, net of cash acquired — — (1) — (1) Cash used for investing activities (8) (4) (9) — (21) Financing Activities: Dividends paid to shareholders (141) — — — (141) Distributions to noncontrolling interest holders, net — — (18) — (18) Repurchase of treasury shares (644) — — — (644) Exercise of stock options 23 — — — 23 Employee withholding tax on share-based payments (49) — — — (49) Intercompany financing activities (130) (78) (321) 529 — Cash used for financing activities (941) (78) (339) 529 (829) Effect of exchange rate changes on cash (6) — 41 — 35 Net change in cash, cash equivalents, and restricted cash (548) — 26 — (522) 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 $ 146 $ — $ 1,290 $ — $ 1,436

Nature of Operations and Basi_4

Nature of Operations and Basis of Presentation - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)Segment	Dec. 31, 2019USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments | Segment	4
Restricted cash	$ 10	$ 15
Contract asset	38	28
Unearned revenue	812
Revenue expected to be recognized as of period end	2,000
Capitalized contract costs	$ 112	$ 115
Amortization period of capitalized contract cost	5 years

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
	Mar. 31, 2020	Mar. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other expense, net	$ 1	$ 103
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	(9)	103
Net loss from investments	10	0
Other expense, net	$ 1	$ 103

Acquisitions and Divestitures -

Acquisitions and Divestitures - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Business Combinations [Abstract]
Gain on disposition	$ 7	$ 0
Gain on disposition after tax	$ 7

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Operating Profit of Business Held-for-Sale (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on disposition	$ 7	$ 0
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	$ 3
Gain on disposition	$ 7

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	21.50%	19.90%
Unrecognized tax benefits	$ 126		$ 124
Accrued interest and penalties associated with unrecognized tax benefits	21		$ 20
Reduction of unrecognized tax benefits is reasonably possible	$ 22

Debt - Summary (Details)

Debt - Summary (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019	Nov. 26, 2019	May 17, 2018	Sep. 22, 2016	May 26, 2015
Debt Instrument [Line Items]
Long-term debt	$ 3,949	$ 3,948
Senior Notes | 4.0% Senior Notes due 2025
Debt Instrument [Line Items]
Long-term debt	$ 694	694
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]
Long-term debt	$ 894	893
Stated interest rate (as a percent)	4.40%
Unamortized debt discount and issuance costs	$ 6
Senior Notes | 2.95% Senior Notes due 2027
Debt Instrument [Line Items]
Long-term debt	$ 493	493
Stated interest rate (as a percent)	2.95%				2.95%
Unamortized debt discount and issuance costs	$ 7
Senior Notes | 2.5% Senior Notes due 2029
Debt Instrument [Line Items]
Long-term debt	$ 495	495
Stated interest rate (as a percent)	2.50%		2.50%
Unamortized debt discount and issuance costs	$ 5
Senior Notes | 6.55% Senior Notes due 2037
Debt Instrument [Line Items]
Long-term debt	$ 294	294
Stated interest rate (as a percent)	6.55%
Unamortized debt discount and issuance costs	$ 3
Senior Notes | 4.5% Senior Notes due 2048
Debt Instrument [Line Items]
Long-term debt	$ 490	490
Stated interest rate (as a percent)	4.50%			4.50%
Unamortized debt discount and issuance costs	$ 10
Senior Notes | 3.25% Senior Notes due 2049
Debt Instrument [Line Items]
Long-term debt	$ 589	$ 589
Stated interest rate (as a percent)	3.25%		3.25%
Unamortized debt discount and issuance costs	$ 11

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	Jun. 30, 2017	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term debt, fair value		$ 4,500,000,000	$ 4,500,000,000
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

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Derivative [Line Items]
Net interest income (expense)	$ (34)	$ (36)
Designated as Hedging Instrument | Foreign exchange forward contracts
Derivative [Line Items]
Net gains (losses) related to cash flow hedges expected to be reclassified into earnings in the next twelve months	(5)
Fair Value Hedging | Not Designated as Hedging Instrument | Foreign exchange forward contracts
Derivative [Line Items]
Aggregate notional value	145		$ 116
Net gain (loss) on derivative	(11)	$ 2
Cash Flow Hedging | Designated as Hedging Instrument | Foreign exchange forward contracts
Derivative [Line Items]
Aggregate notional value	$ 268		$ 249
Maturity of derivatives	12 months
Net Investment Hedging | Cross currency swap
Derivative [Line Items]
Net interest income (expense)	$ 3
Net Investment Hedging | Designated as Hedging Instrument | Cross currency swap
Derivative [Line Items]
Aggregate notional value	400
Other current liabilities | Fair Value Hedging | Not Designated as Hedging Instrument | Foreign exchange forward contracts
Derivative [Line Items]
Aggregate notional value	$ 7

Derivative Instruments - Locati

Derivative Instruments - Location and Fair Values of Cash Flow Hedges (Details) - Designated as Hedging Instrument - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Cash Flow Hedging | Foreign exchange forward contracts | Prepaid and other current assets
Derivatives, Fair Value [Line Items]
Derivative, fair value	$ 0	$ 1
Cash Flow Hedging | Foreign exchange forward contracts | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative, fair value	8	0
Net Investment Hedging | Cross currency swap | Other non-current assets
Derivatives, Fair Value [Line Items]
Derivative, fair value	22	0
Net Investment Hedging | Cross currency swap | Other non-current liabilities
Derivatives, Fair Value [Line Items]
Derivative, fair value	$ 0	$ 10

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
	Mar. 31, 2020	Mar. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion)	$ (7)	$ 4
Foreign exchange forward contracts | Revenue, Selling and general expenses | Designated as Hedging Instrument | Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion)	(7)	4
Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (effective portion)	(2)	2
Cross currency swap | Revenue, Selling and general expenses | Designated as Hedging Instrument | Net Investment Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion)	32	0
Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (effective portion)	$ 0	$ 0

Derivative Instruments - Change

Derivative Instruments - Change in Unrealized Gains (Losses) in AOCI (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	$ 536	$ 684
Balance at end of period	(194)	388
Cash Flow Hedging
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	2	3
Change in fair value, net of tax	(9)	6
Reclassification into earnings, net of tax	2	(2)
Balance at end of period	(5)	7
Net Investment Hedging
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	(8)	0
Change in fair value, net of tax	24	0
Reclassification into earnings, net of tax	0	0
Balance at end of period	$ 16	$ 0

Employee Benefits - Narrative (

Employee Benefits - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Retirement Benefits [Abstract]
Contribution towards retirement plans	$ 3
Expected contributions towards retirement plans, remainder of the year	$ 8

Employee Benefits - Components

Employee Benefits - Components of Net Periodic Benefit Cost (Credit) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Retirement Benefits [Abstract]
Service cost	$ 1	$ 1
Interest cost	13	19
Expected return on assets	(26)	(31)
Amortization of prior service credit / actuarial loss	4	2
Net periodic benefit cost	(8)	(9)
Settlement charge	0	113
Net benefit cost	$ (8)	$ 104

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - Restricted stock and unit awards - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 11	$ 12
Unrecognized compensation expense	$ 72
Unrecognized compensation expense, period for recognition	1 year 9 months 18 days

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($) $ in Millions	1 Months Ended		3 Months Ended
	Mar. 31, 2020	Jan. 31, 2019	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Jan. 29, 2020	Dec. 04, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchased during period (shares)		400,000	3,400,000	3,000,000	3,400,000
Payments for repurchase of stock			$ 1,153		$ 644
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
2020 Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized for repurchase (shares)						30,000,000
Shares authorized for repurchase, compared to total common stock outstanding (as a percent)						12.00%
Remaining shares available under repurchase program (shares)				30,000,000
Payments for repurchase of stock	$ 1,150
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)				1,300,000
CME Group
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Noncontrolling interest ownership by noncontrolling owners (as a percent)	27.00%		27.00%

Equity - Share Repurchases (Det

Equity - Share Repurchases (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	Jul. 31, 2019	Mar. 31, 2020	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total cash utilized			$ 1,153	$ 644
Total cash utilized			$ 1,153	$ 644
2020 Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares purchased (shares)			0.5
Average price paid per share (USD per share)			$ 291.99
Total cash utilized		$ 1,150
Total cash utilized			$ 150
2013 Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares purchased (shares)				0.8
Average price paid per share (USD per share)				$ 184.51
Total cash utilized				$ 144
Accelerated Share Repurchases, February 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average price paid per share (USD per share)			$ 0
Accelerated Share Repurchases, February 2020 | Initial Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares purchased (shares)			1.3
Accelerated Share Repurchases, February 2020 | Additional Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares purchased (shares)			0.2
Accelerated Share Repurchases, February 2020 | Completed Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares purchased (shares)			1.5
Total cash utilized			$ 500
Accelerated Share Repurchases, February 2020 #2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average price paid per share (USD per share)			$ 0
Accelerated share repurchases initial delivery percentage (as a percent)			85.00%
Accelerated Share Repurchases, February 2020 #2 | Initial Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares purchased (shares)			1.4
Accelerated Share Repurchases, February 2020 #2 | Additional Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares purchased (shares)			0
Accelerated Share Repurchases, February 2020 #2 | Completed Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares purchased (shares)			1.4
Total cash utilized			$ 500
Accelerated Share Repurchases, February 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average price paid per share (USD per share)			$ 214.65
Accelerated share repurchases initial delivery percentage (as a percent)			85.00%
Accelerated Share Repurchases, February 2019 | Initial Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares purchased (shares)	0.1		2.2
Accelerated Share Repurchases, February 2019 | Additional Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares purchased (shares)			0.1
Accelerated Share Repurchases, February 2019 | Completed Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares purchased (shares)			2.3
Total cash utilized			$ 500

Equity - Changes to Redeemable

Equity - Changes to Redeemable Noncontrolling Interest (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Increase (Decrease) in Temporary Equity [Roll Forward]
Balance at beginning of period	$ 2,268
Net income attributable to noncontrolling interest	49	$ 40
Distributions payable to noncontrolling interest	(38)
Redemption value adjustment	(11)
Balance at end of period	$ 2,268

Equity - Accumulated Other Comp

Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	$ 536	$ 684
Balance at end of period	(194)	388
Pension and other postretirement benefit plans, tax (less than)	1	28
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(624)	(742)
Other comprehensive (loss) income before reclassifications	(39)
Reclassifications from accumulated other comprehensive income (loss) to net earnings	3
Net other comprehensive (loss) income	(36)
Balance at end of period	(660)	$ (633)
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(321)
Other comprehensive (loss) income before reclassifications	(31)
Reclassifications from accumulated other comprehensive income (loss) to net earnings	0
Net other comprehensive (loss) income	(31)
Balance at end of period	(352)
Pension and Postretirement Benefit Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(305)
Other comprehensive (loss) income before reclassifications	0
Reclassifications from accumulated other comprehensive income (loss) to net earnings	2
Net other comprehensive (loss) income	2
Balance at end of period	(303)
Pension and other postretirement benefit plans, tax (less than)	1
Unrealized Gain (Loss) on Foreign Forward Exchange Contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	2
Other comprehensive (loss) income before reclassifications	(8)
Reclassifications from accumulated other comprehensive income (loss) to net earnings	1
Net other comprehensive (loss) income	(7)
Balance at end of period	$ (5)

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Employee stock option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding stock not included in the computation of diluted earnings per share (shares)	0	0
Restricted performance shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding stock not included in the computation of diluted earnings per share (shares)	400,000	400,000

Earnings Per Share - Summary (D

Earnings Per Share - Summary (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Amounts attributable to S&P Global Inc. common shareholders:
Net income	$ 639	$ 410
Basic weighted-average number of common shares outstanding (shares)	242.1	246.7
Effect of stock options and other dilutive securities (shares)	1.2	1.6
Diluted weighted-average number of common shares outstanding (shares)	243.3	248.3
Earnings per share attributable to S&P Global Inc. common shareholders:
Basic (USD per share)	$ 2.64	$ 1.66
Diluted (USD per share)	$ 2.62	$ 1.65

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)position	Dec. 31, 2019USD ($)
2020 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Workforce reduction | position	70
Restructuring charges paid	$ 9
Increase (decrease) in restructuring reserve	(2)
Restructuring reserve balance	$ 7
2019 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Workforce reduction | position	300
Restructuring charges paid	$ 7
Restructuring reserve balance	$ 11	$ 18

Restructuring - Summary (Detail

Restructuring - Summary (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
2020 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	$ 9
Ending Reserve Balance	7
2019 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	25
Ending Reserve Balance	11	$ 18
Operating Segments | Market Intelligence
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	2
Operating Segments | 2020 Restructuring Plan | Ratings
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	0
Ending Reserve Balance	0
Operating Segments | 2020 Restructuring Plan | Market Intelligence
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	2
Ending Reserve Balance	1
Operating Segments | 2020 Restructuring Plan | Platts
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	0
Ending Reserve Balance	0
Operating Segments | 2019 Restructuring Plan | Ratings
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	11
Ending Reserve Balance	4
Operating Segments | 2019 Restructuring Plan | Market Intelligence
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	6
Ending Reserve Balance	4
Operating Segments | 2019 Restructuring Plan | Platts
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	1
Ending Reserve Balance	0
Corporate
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	7
Corporate | 2020 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	7
Ending Reserve Balance	6
Corporate | 2019 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Initial Charge Recorded	7
Ending Reserve Balance	$ 3

Segment and Related Informati_3

Segment and Related Information - Narrative (Details)	3 Months Ended
	Mar. 31, 2020Segment
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
	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information [Line Items]
Revenue	$ 1,786	$ 1,571
Operating Profit	912	705
Amortization of intangibles from acquisitions	29	32
Gain on disposition	7	0
Operating Segments
Segment Reporting Information [Line Items]
Operating Profit	961	751
Operating Segments | Ratings
Segment Reporting Information [Line Items]
Revenue	825	696
Operating Profit	520	368
Amortization of intangibles from acquisitions		1
Operating Segments | Market Intelligence
Segment Reporting Information [Line Items]
Revenue	519	482
Operating Profit	147	134
Amortization of intangibles from acquisitions	19	18
Gain on disposition	7
Employee severance charges	2
Operating Segments | Platts
Segment Reporting Information [Line Items]
Revenue	215	207
Operating Profit	112	99
Amortization of intangibles from acquisitions	2	3
Operating Segments | Indices
Segment Reporting Information [Line Items]
Revenue	259	217
Operating Profit	182	150
Amortization of intangibles from acquisitions	1	1
Intersegment Elimination
Segment Reporting Information [Line Items]
Revenue	(32)	(31)
Corporate Unallocated
Segment Reporting Information [Line Items]
Operating Profit	(49)	(46)
Amortization of intangibles from acquisitions	7	8
Employee severance charges	7
Non-cash acquisition and disposition-related costs/adjustments	$ 5	$ 7

Segment and Related Informati_5

Segment and Related Information - Revenue Disaggregated by Type (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Total revenue	$ 1,786	$ 1,571
Reclassification from transaction revenue to non-transaction revenue		7
Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	446	336
Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	1,340	1,235
Subscription
Disaggregation of Revenue [Line Items]
Total revenue	748	698
Non-subscription / Transaction
Disaggregation of Revenue [Line Items]
Total revenue	446	336
Non-transaction
Disaggregation of Revenue [Line Items]
Total revenue	361	341
Asset-linked fees
Disaggregation of Revenue [Line Items]
Total revenue	160	148
Sales usage-based royalties
Disaggregation of Revenue [Line Items]
Total revenue	71	48
Operating Segments | Ratings
Disaggregation of Revenue [Line Items]
Total revenue	825	696
Operating Segments | Ratings | Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	432	324
Operating Segments | Ratings | Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	393	372
Operating Segments | Ratings | Subscription
Disaggregation of Revenue [Line Items]
Total revenue	0	0
Operating Segments | Ratings | Non-subscription / Transaction
Disaggregation of Revenue [Line Items]
Total revenue	432	324
Operating Segments | Ratings | Non-transaction
Disaggregation of Revenue [Line Items]
Total revenue	393	372
Operating Segments | Ratings | Asset-linked fees
Disaggregation of Revenue [Line Items]
Total revenue	0	0
Operating Segments | Ratings | Sales usage-based royalties
Disaggregation of Revenue [Line Items]
Total revenue	0	0
Operating Segments | Market Intelligence
Disaggregation of Revenue [Line Items]
Total revenue	519	482
Operating Segments | Market Intelligence | Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	13	10
Operating Segments | Market Intelligence | Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	506	472
Operating Segments | Market Intelligence | Subscription
Disaggregation of Revenue [Line Items]
Total revenue	505	467
Operating Segments | Market Intelligence | Non-subscription / Transaction
Disaggregation of Revenue [Line Items]
Total revenue	13	10
Operating Segments | Market Intelligence | Non-transaction
Disaggregation of Revenue [Line Items]
Total revenue	0	0
Operating Segments | Market Intelligence | Asset-linked fees
Disaggregation of Revenue [Line Items]
Total revenue	1	5
Operating Segments | Market Intelligence | Sales usage-based royalties
Disaggregation of Revenue [Line Items]
Total revenue	0	0
Operating Segments | Platts
Disaggregation of Revenue [Line Items]
Total revenue	215	207
Operating Segments | Platts | Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	1	2
Operating Segments | Platts | Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	214	205
Operating Segments | Platts | Subscription
Disaggregation of Revenue [Line Items]
Total revenue	197	191
Operating Segments | Platts | Non-subscription / Transaction
Disaggregation of Revenue [Line Items]
Total revenue	1	2
Operating Segments | Platts | Non-transaction
Disaggregation of Revenue [Line Items]
Total revenue	0	0
Operating Segments | Platts | Asset-linked fees
Disaggregation of Revenue [Line Items]
Total revenue	0	0
Operating Segments | Platts | Sales usage-based royalties
Disaggregation of Revenue [Line Items]
Total revenue	17	14
Operating Segments | Indices
Disaggregation of Revenue [Line Items]
Total revenue	259	217
Operating Segments | Indices | Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	0	0
Operating Segments | Indices | Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	259	217
Operating Segments | Indices | Subscription
Disaggregation of Revenue [Line Items]
Total revenue	46	40
Operating Segments | Indices | Non-subscription / Transaction
Disaggregation of Revenue [Line Items]
Total revenue	0	0
Operating Segments | Indices | Non-transaction
Disaggregation of Revenue [Line Items]
Total revenue	0	0
Operating Segments | Indices | Asset-linked fees
Disaggregation of Revenue [Line Items]
Total revenue	159	143
Operating Segments | Indices | Sales usage-based royalties
Disaggregation of Revenue [Line Items]
Total revenue	54	34
Intersegment Elimination
Disaggregation of Revenue [Line Items]
Total revenue	(32)	(31)
Intersegment Elimination | Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	0	0
Intersegment Elimination | Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	(32)	(31)
Intersegment Elimination | Subscription
Disaggregation of Revenue [Line Items]
Total revenue	0	0
Intersegment Elimination | Non-subscription / Transaction
Disaggregation of Revenue [Line Items]
Total revenue	0	0
Intersegment Elimination | Non-transaction
Disaggregation of Revenue [Line Items]
Total revenue	(32)	(31)
Intersegment Elimination | Asset-linked fees
Disaggregation of Revenue [Line Items]
Total revenue	0	0
Intersegment Elimination | Sales usage-based royalties
Disaggregation of Revenue [Line Items]
Total revenue	$ 0	$ 0

Segment and Related Informati_6

Segment and Related Information - Revenue by Geographic Region (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 1,786	$ 1,571
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	1,108	943
European region
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	405	373
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	184	169
Rest of the world
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 89	$ 86

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Loss Contingencies [Line Items]
Period of lease extension options	12 years
Period of options to terminate lease	1 year
Contribution to noncontrolling interest	$ 51	$ 18
CME Group | S&P DJ Indices
Loss Contingencies [Line Items]
Revenues earned under license agreement	$ 47	$ 29
Minimum
Loss Contingencies [Line Items]
Remaining lease terms	1 year
Maximum
Loss Contingencies [Line Items]
Remaining lease terms	14 years
CME Group
Loss Contingencies [Line Items]
Noncontrolling interest ownership by noncontrolling owners (as a percent)	27.00%
CME Group | S&P DJ Indices
Loss Contingencies [Line Items]
Noncontrolling interest ownership by noncontrolling owners (as a percent)	27.00%

Commitments and Contingencies_2

Commitments and Contingencies - Location and Amounts of Leases (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Assets
Lease right-of-use assets	$ 652	$ 676
Liabilities
Current lease liabilities	104	112
Noncurrent lease liabilities	$ 603	$ 620

Commitments and Contingencies_3

Commitments and Contingencies - Components of Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost	$ 36	$ 37
Sublease income	(4)	(4)
Total lease cost	$ 32	$ 33

Commitments and Contingencies_4

Commitments and Contingencies - Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash paid for amounts included in the measurement for operating lease liabilities
Operating cash flows from operating leases	$ 39	$ 35
Right-of-use assets obtained in exchange for lease obligations
Operating leases	$ 6	$ 715

Commitments and Contingencies_5

Commitments and Contingencies - Lease Term and Discount Rate (Details)	Mar. 31, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Weighted-average remaining lease term (years)	8 years 10 months 24 days	9 years
Weighted-average discount rate (as a percent)	3.85%	3.93%

Commitments and Contingencies_6

Commitments and Contingencies - Maturities of Lease Liabilities (Details) $ in Millions	Mar. 31, 2020USD ($)
Commitments and Contingencies Disclosure [Abstract]
2020 (Excluding the three months ended March 31, 2020)	$ 100
2021	120
2022	105
2023	87
2024	66
2025 and beyond	357
Total undiscounted lease payments	835
Less: Imputed interest	128
Present value of lease liabilities	$ 707

Condensed Consolidating Finan_3

Condensed Consolidating Financial Statements - Narrative (Details) - USD ($)	Mar. 31, 2020	Nov. 26, 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 | 2.5% Senior Notes due 2029
Condensed Financial Statements, Captions [Line Items]
Debt issued		$ 500,000,000
Stated interest rate (as a percent)	2.50%	2.50%
Senior Notes | 3.25% Senior Notes due 2049
Condensed Financial Statements, Captions [Line Items]
Debt issued		$ 600,000,000
Stated interest rate (as a percent)	3.25%	3.25%
Senior Notes | 3.3% Senior Notes due 2020
Condensed Financial Statements, Captions [Line Items]
Debt issued					$ 700,000,000
Stated interest rate (as a percent)					3.30%
Senior Notes | 6.55% Senior Notes due 2037
Condensed Financial Statements, Captions [Line Items]
Debt issued	$ 400,000,000
Stated interest rate (as a percent)	6.55%
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 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 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 2018
Condensed Financial Statements, Captions [Line Items]
Debt issued					$ 400,000,000
Stated interest rate (as a percent)					2.50%
Senior Notes | 4.4% Senior Notes due 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
	Mar. 31, 2020	Mar. 31, 2019
Condensed Income Statements, Captions [Line Items]
Revenue	$ 1,786	$ 1,571
Expenses:
Operating-related expenses	521	473
Selling and general expenses	311	341
Depreciation	20	20
Amortization of intangibles	29	32
Total expenses	881	866
Gain on disposition	(7)	0
Operating profit	912	705
Other expense, net	1	103
Interest expense, net	34	36
Non-operating intercompany transactions	0	0
Income before taxes on income	877	566
Provision for taxes on income	188	113
Equity in net income of subsidiaries	0	0
Net income	689	453
Less: net income attributable to noncontrolling interests	(50)	(43)
Net income attributable to S&P Global Inc.	639	410
Comprehensive income	653	562
Eliminations
Condensed Income Statements, Captions [Line Items]
Revenue	(39)	(38)
Expenses:
Operating-related expenses	(39)	(38)
Selling and general expenses	0	0
Depreciation	0	0
Amortization of intangibles	0	0
Total expenses	(39)	(38)
Gain on disposition	0
Operating profit	0	0
Other expense, net	0	0
Interest expense, net	0	0
Non-operating intercompany transactions	474	23
Income before taxes on income	(474)	(23)
Provision for taxes on income	0	0
Equity in net income of subsidiaries	(1,168)	(506)
Net income	(1,642)	(529)
Less: net income attributable to noncontrolling interests	(50)	(43)
Net income attributable to S&P Global Inc.	(1,692)	(572)
Comprehensive income	(1,641)	(530)
S&P Global Inc. | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenue	212	202
Expenses:
Operating-related expenses	31	67
Selling and general expenses	74	(4)
Depreciation	11	11
Amortization of intangibles	0	0
Total expenses	116	74
Gain on disposition	0
Operating profit	96	128
Other expense, net	(5)	107
Interest expense, net	37	38
Non-operating intercompany transactions	103	96
Income before taxes on income	(39)	(113)
Provision for taxes on income	16	(40)
Equity in net income of subsidiaries	1,168	506
Net income	1,113	433
Less: net income attributable to noncontrolling interests	0	0
Net income attributable to S&P Global Inc.	1,113	433
Comprehensive income	1,146	515
Standard & Poor's Financial Services LLC | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenue	525	436
Expenses:
Operating-related expenses	117	117
Selling and general expenses	27	81
Depreciation	2	2
Amortization of intangibles	0	0
Total expenses	146	200
Gain on disposition	0
Operating profit	379	236
Other expense, net	0	0
Interest expense, net	0	0
Non-operating intercompany transactions	(13)	(16)
Income before taxes on income	392	252
Provision for taxes on income	91	70
Equity in net income of subsidiaries	0	0
Net income	301	182
Less: net income attributable to noncontrolling interests	0	0
Net income attributable to S&P Global Inc.	301	182
Comprehensive income	301	182
Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenue	1,088	971
Expenses:
Operating-related expenses	412	327
Selling and general expenses	210	264
Depreciation	7	7
Amortization of intangibles	29	32
Total expenses	658	630
Gain on disposition	(7)
Operating profit	437	341
Other expense, net	6	(4)
Interest expense, net	(3)	(2)
Non-operating intercompany transactions	(564)	(103)
Income before taxes on income	998	450
Provision for taxes on income	81	83
Equity in net income of subsidiaries	0	0
Net income	917	367
Less: net income attributable to noncontrolling interests	0	0
Net income attributable to S&P Global Inc.	917	367
Comprehensive income	$ 847	$ 395

Condensed Consolidating Finan_5

Condensed Consolidating Financial Statements - Balance Sheet (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 1,932	$ 2,866
Restricted cash	20	20
Accounts receivable, net of allowance for doubtful accounts	1,504	1,577
Intercompany receivable	0	0
Prepaid and other current assets	239	249
Total current assets	3,695	4,712
Property and equipment, net of accumulated depreciation	309	320
Right of use assets	652	676
Goodwill	3,703	3,575
Other intangible assets, net	1,439	1,424
Investments in subsidiaries	0	0
Intercompany loans receivable	0	0
Other non-current assets	665	641
Total assets	10,463	11,348
Current liabilities:
Accounts payable	203	190
Intercompany payable	0	0
Accrued compensation and contributions to retirement plans	222	446
Income taxes currently payable	160	68
Unearned revenue	1,897	1,928
Other current liabilities	501	461
Total current liabilities	2,983	3,093
Long-term debt	3,949	3,948
Lease liabilities — non-current	603	620
Intercompany loans payable	0	0
Pension and other postretirement benefits	258	259
Other non-current liabilities	596	624
Total liabilities	8,389	8,544
Redeemable noncontrolling interest	2,268	2,268
Equity:
Common stock	294	294
Additional paid-in capital	754	903
Retained income	12,691	12,205
Accumulated other comprehensive loss	(660)	(624)
Less: common stock in treasury	(13,329)	(12,299)
Total (deficit) equity — controlling interests	(250)	479
Total equity - noncontrolling interests	56	57
Total (deficit) equity	(194)	536	$ 388	$ 684
Total liabilities and (deficit) equity	10,463	11,348
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	(7,851)	(7,513)
Prepaid and other current assets	0	0
Total current assets	(7,851)	(7,513)
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	(20,065)	(20,228)
Intercompany loans receivable	(1,528)	(1,246)
Other non-current assets	(1)	(1)
Total assets	(29,438)	(28,979)
Current liabilities:
Accounts payable	0	0
Intercompany payable	(7,851)	(7,513)
Accrued compensation and contributions to retirement plans	0	0
Income taxes currently payable	0	0
Unearned revenue	0	0
Other current liabilities	0	0
Total current liabilities	(7,851)	(7,513)
Long-term debt	0	0
Lease liabilities — non-current	0	0
Intercompany loans payable	(1,528)	(1,246)
Pension and other postretirement benefits	0	0
Other non-current liabilities	0	(1)
Total liabilities	(9,379)	(8,760)
Redeemable noncontrolling interest	2,268	2,268
Equity:
Common stock	(2,375)	(2,377)
Additional paid-in capital	(9,207)	(9,203)
Retained income	(10,849)	(11,010)
Accumulated other comprehensive loss	49	48
Less: common stock in treasury	0	0
Total (deficit) equity — controlling interests	(22,382)	(22,542)
Total equity - noncontrolling interests	55	55
Total (deficit) equity	(22,327)	(22,487)
Total liabilities and (deficit) equity	(29,438)	(28,979)
S&P Global Inc. | Reportable Legal Entities
Current assets:
Cash and cash equivalents	659	1,130
Restricted cash	0	0
Accounts receivable, net of allowance for doubtful accounts	235	229
Intercompany receivable	716	675
Prepaid and other current assets	84	102
Total current assets	1,694	2,136
Property and equipment, net of accumulated depreciation	197	204
Right of use assets	388	402
Goodwill	283	283
Other intangible assets, net	0	0
Investments in subsidiaries	11,985	12,134
Intercompany loans receivable	17	17
Other non-current assets	305	281
Total assets	14,869	15,457
Current liabilities:
Accounts payable	86	80
Intercompany payable	6,484	6,288
Accrued compensation and contributions to retirement plans	102	148
Income taxes currently payable	99	7
Unearned revenue	314	297
Other current liabilities	214	187
Total current liabilities	7,299	7,007
Long-term debt	3,949	3,948
Lease liabilities — non-current	373	383
Intercompany loans payable	0	0
Pension and other postretirement benefits	176	178
Other non-current liabilities	154	171
Total liabilities	11,951	11,687
Redeemable noncontrolling interest	0	0
Equity:
Common stock	294	294
Additional paid-in capital	(46)	112
Retained income	16,139	15,836
Accumulated other comprehensive loss	(142)	(175)
Less: common stock in treasury	(13,327)	(12,297)
Total (deficit) equity — controlling interests	2,918	3,770
Total equity - noncontrolling interests	0	0
Total (deficit) equity	2,918	3,770
Total liabilities and (deficit) equity	14,869	15,457
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	232	148
Intercompany receivable	2,831	2,855
Prepaid and other current assets	3	2
Total current assets	3,066	3,005
Property and equipment, net of accumulated depreciation	0	0
Right of use assets	2	1
Goodwill	0	0
Other intangible assets, net	0	0
Investments in subsidiaries	5	6
Intercompany loans receivable	0	0
Other non-current assets	35	37
Total assets	3,108	3,049
Current liabilities:
Accounts payable	10	11
Intercompany payable	92	27
Accrued compensation and contributions to retirement plans	10	61
Income taxes currently payable	0	0
Unearned revenue	250	243
Other current liabilities	14	18
Total current liabilities	376	360
Long-term debt	0	0
Lease liabilities — non-current	1	1
Intercompany loans payable	0	0
Pension and other postretirement benefits	0	0
Other non-current liabilities	74	81
Total liabilities	451	442
Redeemable noncontrolling interest	0	0
Equity:
Common stock	0	0
Additional paid-in capital	633	632
Retained income	2,024	1,975
Accumulated other comprehensive loss	0	0
Less: common stock in treasury	0	0
Total (deficit) equity — controlling interests	2,657	2,607
Total equity - noncontrolling interests	0	0
Total (deficit) equity	2,657	2,607
Total liabilities and (deficit) equity	3,108	3,049
Non-Guarantor Subsidiaries | Reportable Legal Entities
Current assets:
Cash and cash equivalents	1,273	1,736
Restricted cash	20	20
Accounts receivable, net of allowance for doubtful accounts	1,037	1,200
Intercompany receivable	4,304	3,983
Prepaid and other current assets	152	145
Total current assets	6,786	7,084
Property and equipment, net of accumulated depreciation	112	116
Right of use assets	262	273
Goodwill	3,413	3,283
Other intangible assets, net	1,439	1,424
Investments in subsidiaries	8,075	8,088
Intercompany loans receivable	1,511	1,229
Other non-current assets	326	324
Total assets	21,924	21,821
Current liabilities:
Accounts payable	107	99
Intercompany payable	1,275	1,198
Accrued compensation and contributions to retirement plans	110	237
Income taxes currently payable	61	61
Unearned revenue	1,333	1,388
Other current liabilities	273	256
Total current liabilities	3,159	3,239
Long-term debt	0	0
Lease liabilities — non-current	229	236
Intercompany loans payable	1,528	1,246
Pension and other postretirement benefits	82	81
Other non-current liabilities	368	373
Total liabilities	5,366	5,175
Redeemable noncontrolling interest	0	0
Equity:
Common stock	2,375	2,377
Additional paid-in capital	9,374	9,362
Retained income	5,377	5,404
Accumulated other comprehensive loss	(567)	(497)
Less: common stock in treasury	(2)	(2)
Total (deficit) equity — controlling interests	16,557	16,644
Total equity - noncontrolling interests	1	2
Total (deficit) equity	16,558	16,646
Total liabilities and (deficit) equity	$ 21,924	$ 21,821

Condensed Consolidating Finan_6

Condensed Consolidating Financial Statements - Statement of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating Activities:
Net income	$ 689	$ 453
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	20	20
Amortization of intangibles	29	32
Provision for losses on accounts receivable	10	7
Deferred income taxes	(6)	28
Stock-based compensation	11	12
Gain on disposition	(7)	0
Pension settlement charge, net of taxes	0	85
Other	29	8
Changes in operating assets and liabilities, net of effect of acquisitions:
Accounts receivable	76	(87)
Prepaid and other current assets	(52)	(34)
Accounts payable and accrued expenses	(251)	(161)
Unearned revenue	(12)	(3)
Accrued legal settlements	0	(1)
Other current liabilities	49	(59)
Net change in prepaid/accrued income taxes	125	57
Net change in other assets and liabilities	(30)	(64)
Cash provided by operating activities	680	293
Investing Activities:
Capital expenditures	(11)	(20)
Acquisitions, net of cash acquired	(183)	(1)
Changes in short-term investments	11	0
Cash used for investing activities	(183)	(21)
Financing Activities:
Dividends paid to shareholders	(161)	(141)
Distributions to noncontrolling interest holders, net	(51)	(18)
Repurchase of treasury shares	(1,153)	(644)
Exercise of stock options	8	23
Employee withholding tax on share-based payments	(44)	(49)
Intercompany financing activities	0	0
Cash used for financing activities	(1,401)	(829)
Effect of exchange rate changes on cash	(30)	35
Net change in cash, cash equivalents, and restricted cash	(934)	(522)
Cash, cash equivalents, and restricted cash at beginning of period	2,886	1,958
Cash, cash equivalents, and restricted cash at end of period	1,952	1,436
Eliminations
Operating Activities:
Net income	(1,642)	(529)
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	0	0
Amortization of intangibles	0	0
Provision for losses on accounts receivable	0	0
Deferred income taxes	0
Stock-based compensation	0	0
Gain on disposition	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
Other current liabilities	0	0
Net change in prepaid/accrued income taxes	0	0
Net change in other assets and liabilities	0	0
Cash provided by operating activities	(1,642)	(529)
Investing Activities:
Capital expenditures	0	0
Acquisitions, net of cash acquired	0	0
Changes in short-term investments	0
Cash used for investing activities	0	0
Financing Activities:
Dividends paid to shareholders	0	0
Distributions to noncontrolling interest holders, net	0	0
Repurchase of treasury shares	0	0
Exercise of stock options	0	0
Employee withholding tax on share-based payments	0	0
Intercompany financing activities	1,642	529
Cash used for financing activities	1,642	529
Effect of exchange rate changes on cash	0	0
Net change in cash, cash equivalents, and restricted cash	0	0
Cash, cash equivalents, and restricted cash at beginning of period	0	0
Cash, cash equivalents, and restricted cash at end of period	0	0
S&P Global Inc. | Reportable Legal Entities
Operating Activities:
Net income	1,113	433
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	11	11
Amortization of intangibles	0	0
Provision for losses on accounts receivable	2	2
Deferred income taxes	(5)	21
Stock-based compensation	4	2
Gain on disposition	0
Pension settlement charge, net of taxes		85
Other	30	0
Changes in operating assets and liabilities, net of effect of acquisitions:
Accounts receivable	(8)	(80)
Prepaid and other current assets	(54)	(9)
Accounts payable and accrued expenses	(42)	(45)
Unearned revenue	18	9
Accrued legal settlements		0
Other current liabilities	4	(54)
Net change in prepaid/accrued income taxes	163	51
Net change in other assets and liabilities	13	(19)
Cash provided by operating activities	1,249	407
Investing Activities:
Capital expenditures	(3)	(8)
Acquisitions, net of cash acquired	0	0
Changes in short-term investments	0
Cash used for investing activities	(3)	(8)
Financing Activities:
Dividends paid to shareholders	(161)	(141)
Distributions to noncontrolling interest holders, net	0	0
Repurchase of treasury shares	(1,153)	(644)
Exercise of stock options	5	23
Employee withholding tax on share-based payments	(44)	(49)
Intercompany financing activities	(359)	(130)
Cash used for financing activities	(1,712)	(941)
Effect of exchange rate changes on cash	(5)	(6)
Net change in cash, cash equivalents, and restricted cash	(471)	(548)
Cash, cash equivalents, and restricted cash at beginning of period	1,130	694
Cash, cash equivalents, and restricted cash at end of period	659	146
Standard & Poor's Financial Services LLC | Reportable Legal Entities
Operating Activities:
Net income	301	182
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	2	2
Amortization of intangibles	0	0
Provision for losses on accounts receivable	3	2
Deferred income taxes	0	0
Stock-based compensation	2	1
Gain on disposition	0
Pension settlement charge, net of taxes		0
Other	0	0
Changes in operating assets and liabilities, net of effect of acquisitions:
Accounts receivable	(82)	(101)
Prepaid and other current assets	33	(2)
Accounts payable and accrued expenses	(64)	(18)
Unearned revenue	7	23
Accrued legal settlements		(1)
Other current liabilities	21	(1)
Net change in prepaid/accrued income taxes	(40)	0
Net change in other assets and liabilities	(21)	(5)
Cash provided by operating activities	162	82
Investing Activities:
Capital expenditures	(1)	(4)
Acquisitions, net of cash acquired	0	0
Changes in short-term investments	0
Cash used for investing activities	(1)	(4)
Financing Activities:
Dividends paid to shareholders	0	0
Distributions to noncontrolling interest holders, net	0	0
Repurchase of treasury shares	0	0
Exercise of stock options	0	0
Employee withholding tax on share-based payments	0	0
Intercompany financing activities	(161)	(78)
Cash used for financing activities	(161)	(78)
Effect of exchange rate changes on cash	0	0
Net change in cash, cash equivalents, and restricted cash	0	0
Cash, cash equivalents, and restricted cash at beginning of period	0	0
Cash, cash equivalents, and restricted cash at end of period	0	0
Non-Guarantor Subsidiaries | Reportable Legal Entities
Operating Activities:
Net income	917	367
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	7	7
Amortization of intangibles	29	32
Provision for losses on accounts receivable	5	3
Deferred income taxes	(1)	7
Stock-based compensation	5	9
Gain on disposition	(7)
Pension settlement charge, net of taxes		0
Other	(1)	8
Changes in operating assets and liabilities, net of effect of acquisitions:
Accounts receivable	166	94
Prepaid and other current assets	(31)	(23)
Accounts payable and accrued expenses	(145)	(98)
Unearned revenue	(37)	(35)
Accrued legal settlements		0
Other current liabilities	24	(4)
Net change in prepaid/accrued income taxes	2	6
Net change in other assets and liabilities	(22)	(40)
Cash provided by operating activities	911	333
Investing Activities:
Capital expenditures	(7)	(8)
Acquisitions, net of cash acquired	(183)	(1)
Changes in short-term investments	11
Cash used for investing activities	(179)	(9)
Financing Activities:
Dividends paid to shareholders	0	0
Distributions to noncontrolling interest holders, net	(51)	(18)
Repurchase of treasury shares	0	0
Exercise of stock options	3	0
Employee withholding tax on share-based payments	0	0
Intercompany financing activities	(1,122)	(321)
Cash used for financing activities	(1,170)	(339)
Effect of exchange rate changes on cash	(25)	41
Net change in cash, cash equivalents, and restricted cash	(463)	26
Cash, cash equivalents, and restricted cash at beginning of period	1,756	1,264
Cash, cash equivalents, and restricted cash at end of period	$ 1,293	$ 1,290