Segment and Related Information (Tables)

9 Months Ended

Sep. 30, 2014

Schedule of operating results by segment

A summary of operating results by segment for the periods ended September 30 is as follows:



Three Months	2014						2013
(in millions)	Revenue			Operating Profit			Revenue			Operating Profit
S&P Ratings	$	604		$	183		$	540		$	230
S&P Capital IQ	311			64			293			50
S&P DJ Indices	143			86			124			77
C&C ¹	227			71			213			87
Intersegment elimination ²	(22		)	—			(18		)	—
Total operating segments	1,263			404			1,152			444
Unallocated expense ³	—			(38		)	—			(49		)
Total	$	1,263		$	366		$	1,152		$	395



Nine Months	2014						2013
(in millions)	Revenue			Operating Profit			Revenue			Operating Profit
S&P Ratings	$	1,837		$	730		$	1,701		$	748
S&P Capital IQ	919			172			868			149
S&P DJ Indices	412			260			363			218
C&C ¹	657			217			621			214
Intersegment elimination ²	(64		)	—			(57		)	—
Total operating segments	3,761			1,379			3,496			1,329
Unallocated expense ³	—			(118		)	—			(242		)
Total	$	3,761		$	1,261		$	3,496		$	1,087


¹	McGraw Hill Construction has historically been part of the C&C segment. In accordance with the presentation of McGraw Hill Construction as a discontinued operation, the results of operations, inclusive of corporate overhead allocations, for all periods presented have been reclassified out of C&C's results to reflect this change. See Note 2 — Acquisitions and Divestitures for further discussion.


²	Revenue for S&P Ratings and expenses for S&P Capital IQ include an intersegment royalty charged to S&P Capital IQ for the rights to use and distribute content and data developed by S&P Ratings.


³	The three and nine months ended September 30, 2014 include a restructuring charge of $7 million. The three and nine months ended September 30, 2013 include costs necessary to enable the separation of MHE and reduce our cost structure of $10 million and $64 million, respectively. The nine months ended September 30, 2013 also includes pre-tax legal settlements of approximately $77 million.

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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