Restructuring	9 Months Ended
Sep. 30, 2012
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring In order to contain costs and mitigate the impact of current and expected future economic conditions, as well as a continued focus on process improvements, we have initiated various restructuring plans over the last several years. The plans that are currently active with a remaining liability are further described below. The charges for each restructuring plan are classified as selling and general expenses within the consolidated statements of income. During the third quarter of 2012, we continued to identify opportunities for cost savings through workforce reductions and other restructuring activities as part of our Growth and Value Plan, which includes creating two independent companies with focused cost structures. Approximately 40% of the headcount reduction related to our finance & accounting, human resource, information technology, and other support services within our shared service center as we transition various work to selected outsource providers. Of the remaining headcount reductions, approximately 60% relate to McGraw-Hill Financial and 40% relate to MHE. We recorded a pre-tax restructuring charge of $50 million, consisting primarily of employee severance costs related to a company-wide workforce reduction of approximately 520 positions. This charge consisted of $7 million for S&P Ratings, $15 million for S&P Capital IQ / Indices, $6 million for C&C, $11 million for MHE and $11 million for our corporate segment. For the three months ended September 30, 2012, we have reduced the reserve by $4 million, primarily relating to cash payments for employee severance costs. The remaining reserve as of September 30, 2012 is $46 million and is included in other current liabilities in the consolidated balance sheet. During the fourth quarter of 2011, we initiated a restructuring plan to create a flatter and more agile organization as part of our Growth and Value Plan. While initially focused on our MHE segment, these actions also included other parts of the Company. We recorded a pre-tax restructuring charge of $66 million, consisting primarily of facility exit costs and employee severance costs related to a company-wide workforce reduction of approximately 800 positions. In the second quarter of 2012 we recorded an additional pre-tax restructuring charge of $5 million primarily for employee severance costs as part of the Growth and Value Plan. For the three and nine months ended September 30, 2012, we have reduced the reserve by $6 million and $36 million, respectively, primarily relating to cash payments for employee severance costs, mainly at MHE. The remaining reserve as of September 30, 2012 is $31 million and is included in other current liabilities in the consolidated balance sheet. As of September 30, 2012, our 2006 restructuring initiative still has a remaining reserve relating to facilities costs of $3 million.

Restructuring

In order to contain costs and mitigate the impact of current and expected future economic conditions, as well as a continued focus on process improvements, we have initiated various restructuring plans over the last several years. The plans that are currently active with a remaining liability are further described below. The charges for each restructuring plan are classified as selling and general expenses within the consolidated statements of income.

During the third quarter of 2012, we continued to identify opportunities for cost savings through workforce reductions and other restructuring activities as part of our Growth and Value Plan, which includes creating two independent companies with focused cost structures. Approximately 40% of the headcount reduction related to our finance & accounting, human resource, information technology, and other support services within our shared service center as we transition various work to selected outsource providers. Of the remaining headcount reductions, approximately 60% relate to McGraw-Hill Financial and 40% relate to MHE. We recorded a pre-tax restructuring charge of $50 million, consisting primarily of employee severance costs related to a company-wide workforce reduction of approximately 520 positions. This charge consisted of $7 million for S&P Ratings, $15 million for S&P Capital IQ / Indices, $6 million for C&C, $11 million for MHE and $11 million for our corporate segment. For the three months ended September 30, 2012, we have reduced the reserve by $4 million, primarily relating to cash payments for employee severance costs. The remaining reserve as of September 30, 2012 is $46 million and is included in other current liabilities in the consolidated balance sheet.

During the fourth quarter of 2011, we initiated a restructuring plan to create a flatter and more agile organization as part of our Growth and Value Plan. While initially focused on our MHE segment, these actions also included other parts of the Company. We recorded a pre-tax restructuring charge of $66 million, consisting primarily of facility exit costs and employee severance costs related to a company-wide workforce reduction of approximately 800 positions. In the second quarter of 2012 we recorded an additional pre-tax restructuring charge of $5 million primarily for employee severance costs as part of the Growth and Value Plan. For the three and nine months ended September 30, 2012, we have reduced the reserve by $6 million and $36 million, respectively, primarily relating to cash payments for employee severance costs, mainly at MHE. The remaining reserve as of September 30, 2012 is $31 million and is included in other current liabilities in the consolidated balance sheet.

As of September 30, 2012, our 2006 restructuring initiative still has a remaining reserve relating to facilities costs of $3 million.