Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2015

Business Combinations [Abstract]

Schedule of Preliminary Purchase Price Allocation for the SNL Acquisition

The following table presents the preliminary allocation of purchase price to the assets and liabilities of SNL as a result of the acquisition.

(in millions)
Current assets	$	23
Property, plant and equipment	19
Goodwill	1,563
Other intangible assets, net:
Databases and software	421
Customer relationships	162
Tradenames	185
Other intangibles	4
Other intangible assets, net	772
Other non-current assets	1
Total assets acquired	2,378
Current liabilities	(23		)
Unearned revenue	(117		)
Other non-current liabilities	(4		)
Total liabilities acquired	(144		)
Net assets acquired	$	2,234

Supplemental Information on an Unaudited Pro Forma Basis

Supplemental information on an unaudited pro forma basis is presented below for the years ended December 31, 2015 and 2014 as if the acquisition of SNL occurred on January 1, 2014. The pro forma financial information is presented for comparative purposes only, based on estimates and assumptions, which the Company believes to be reasonable but not necessarily indicative of the consolidated financial position or results of operations in future periods or the results that actually would have been realized had this acquisition been completed at the beginning of 2015. The unaudited pro forma information includes intangible asset charges and incremental borrowing costs as a result of the acquisition, net of related tax, estimated using the Company's effective tax rate for continuing operations for the periods presented.

(in millions)	Year Ended December 31,
	2015		2014
Pro forma revenue	$	5,477	$	5,275
Pro forma net income (loss) from continuing operations	$	1,258	$	(251	)

Schedule of Liabilities Assumed in Conjunction with Acquisition of Businesses

Liabilities assumed in conjunction with the acquisition of businesses are as follows:

(in millions)	Years ended December 31,
	2015		2014		2013
Fair value of assets acquired	$	2,576	$	67	$	—
Cash paid (net of cash acquired)	2,401		52		—
Liabilities assumed 1	$	175	$	15	$	—

¹ 2013 acquisitions did not result in any liabilities assumed.

Disposal Group, Held-for-sale, Not Discontinued Operations [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Key Components of Disposal Groups

The components of assets and liabilities held for sale related to J.D. Power in the consolidated balance sheet consist of the following:

(in millions)	December 31,
	2015
Accounts receivable, net	$	58
Goodwill	75
Other intangible assets, net	335
Other assets	35
Assets of a business held for sale	$	503
Accounts payable and accrued expenses	$	42
Unearned revenue	64
Other liabilities	100
Liabilities of a business held for sale	$	206

The operating profit of J.D. Power for the years ending December 31, 2015, 2014 and 2013 is as follows:

(in millions)	Years ended December 31,
	2015		2014		2013
J.D. Power operating profit	$	53	$	44	$	35

Discontinued Operations, Disposed of by Sale [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Key Components of Disposal Groups

The key components of income from discontinued operations for the years ended December 31, 2014 and 2013 consist of the following:

(in millions)	Years ended December 31,
	2014		2013
Revenue	$	139	$	441
Expenses	110		436
Operating income	29		5
Interest expense, net	—		2
Income before taxes on income	29		3
Provision for taxes on income	11		—
Income from discontinued operations, net of tax	18		3
Pre-tax gain on sale from discontinued operations	289		888
Provision for taxes on gain on sale	129		299
Gain on sale of discontinued operations, net of tax	160		589
Discontinued operations, net	178		592
Less: net loss attributable to noncontrolling interests	—		(1		)
Income from discontinued operations attributable to McGraw Hill Financial, Inc. common shareholders	$	178	$	593