EX-99 2 ex99.htm EXHIBIT 99 Exhibit

Exhibit 99

S&P Global
Operating Results - Reported vs. Performance Revised to Reflect Recast Segment Information
Periods ended September 30, 2016
(dollars in millions, except per share amounts)

(unaudited)
2016
 
 
 
 
 
 
 
 
 
Q1
 
 
Q2
 
 
 
Reported
 
Non-GAAP Adjustments
 
Deal-Related Amortization
 
Performance
 
 
Reported
 
Non-GAAP Adjustments
 
Deal-Related Amortization
 
Performance
 
Ratings
 
$
262

 
$
(12
)
 
$
1

 
$
252

 
 
$
396

 
$
(29
)
 
$
1

 
$
369

 
Market and Commodities Intelligence
 
183

 
27

 
22

 
230

 
 
186

 
10

 
21

 
216

 
Indices
 
101

 
—

 
1

 
102

 
 
100

 
—

 
1

 
101

 
Segment operating profit
 
546

 
15

 
24

 
584

 
 
682

 
(19
)
 
23

 
686

 
Unallocated expense  
 
(34
)
 
—

 
—

 
(34
)
 
 
(31
)
 
(3
)
 
—

 
(34
)
 
Operating profit
 
512

 
15

 
24

 
550

 
 
651

 
(22
)
 
23

 
652

 
Interest expense, net  
 
40

 
—

 
—

 
40

 
 
42

 
—

 
—

 
42

 
Income before taxes on income
 
472

 
15

 
24

 
510

 
 
609

 
(22
)
 
23

 
610

 
Provision for taxes on income
 
149

 
5

 
8

 
161

 
 
197

 
(9
)
 
8

 
196

 
Net income
 
323

 
10

 
16

 
349

 
 
412

 
(13
)
 
15

 
414

 
Less: NCI net income
 
(29
)
 
—

 
—

 
(29
)
 
 
(29
)
 
—

 
—

 
(29
)
 
Net income attributable to SPGI
 
$
294

 
$
10

 
$
16

 
$
320

 
 
$
383

 
$
(13
)
 
$
15

 
$
385

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Diluted EPS
 
$
1.10

 
$
0.04

 
$
0.06

 
$
1.20

 
 
$
1.44

 
$
(0.05
)
 
$
0.06

 
$
1.44

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Q3
 
 
Nine Months
 
 
 
Reported
 
Non-GAAP Adjustments
 
Deal-Related Amortization
 
Performance
 
 
Reported
 
Non-GAAP Adjustments
 
Deal-Related Amortization
 
Performance
 
Ratings
 
$
346

 
$
(17
)
 
$
1

 
$
330

 
 
$
1,004

 
$
(57
)
 
$
4

 
$
951

 
Market and Commodities Intelligence
 
924

 
(715
)
 
21

 
229

 
 
1,293

 
(680
)
 
63

 
675

 
Indices
 
107

 
—

 
1

 
108

 
 
308

 
—

 
4

 
312

 
Segment operating profit
 
1,377

 
(732
)
 
23

 
667

 
 
2,605

 
(737
)
 
71

 
1,938

 
Unallocated expense  
 
(29
)
 
—

 
—

 
(29
)
 
 
(93
)
 
(3
)
 
—

 
(96
)
 
Operating profit
 
1,348

 
(732
)
 
23

 
638

 
 
2,512

 
(740
)
 
71

 
1,842

 
Interest expense, net  
 
39

 
—

 
—

 
39

 
 
122

 
—

 
—

 
122

 
Income before taxes on income
 
1,309

 
(732
)
 
23

 
599

 
 
2,390

 
(740
)
 
71

 
1,720

 
Provision for taxes on income
 
386

 
(206
)
 
8

 
187

 
 
731

 
(211
)
 
25

 
544

 
Net income
 
923

 
(526
)
 
15

 
412

 
 
1,659

 
(529
)
 
46

 
1,176

 
Less: NCI net income
 
(31
)
 
—

 
—

 
(31
)
 
 
(90
)
 
—

 
—

 
(90
)
 
Net income attributable to SPGI
 
$
892

 
$
(526
)
 
$
15

 
$
381

 
 
$
1,569

 
$
(529
)
 
$
46

 
$
1,086

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Diluted EPS
 
$
3.36

 
$
(1.99
)
 
$
0.06

 
$
1.43

 
 
$
5.89

 
$
(1.99
)
 
$
0.17

 
$
4.08

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Note - Totals presented may not sum due to rounding.






Exhibit 99

S&P Global
Operating Results - Reported vs. Performance Revised to Reflect Recast Segment Information
Periods ended December 31, 2015
(dollars in millions, except per share amounts)

(unaudited)
2015
 
 
 
 
 
 
 
 
 
Q1
 
 
Q2
 
 
 
Reported
 
Non-GAAP Adjustments
 
Deal-Related Amortization
 
Performance
 
 
Reported
 
Non-GAAP Adjustments
 
Deal-Related Amortization
 
Performance
 
Ratings
 
$
291

 
$
(6
)
 
$
1

 
$
286

 
 
$
361

 
$
(33
)
 
$
1

 
$
330

 
Market and Commodities Intelligence
 
148

 
—

 
9

 
157

 
 
150

 
13

 
9

 
171

 
Indices
 
95

 
—

 
1

 
97

 
 
96

 
—

 
1

 
97

 
Segment operating profit
 
534

 
(6
)
 
11

 
540

 
 
607

 
(20
)
 
11

 
598

 
Unallocated expense  
 
(33
)
 
—

 
—

 
(33
)
 
 
(25
)
 
(10
)
 
—

 
(35
)
 
Operating profit
 
501

 
(6
)
 
11

 
507

 
 
582

 
(30
)
 
11

 
563

 
Interest expense, net  
 
16

 
—

 
—

 
16

 
 
16

 
—

 
—

 
16

 
Income before taxes on income
 
485

 
(6
)
 
11

 
491

 
 
566

 
(30
)
 
11

 
547

 
Provision for taxes on income
 
156

 
(2
)
 
4

 
158

 
 
185

 
(12
)
 
4

 
177

 
Net income
 
329

 
(4
)
 
7

 
333

 
 
381

 
(18
)
 
7

 
370

 
Less: NCI net income
 
(26
)
 
—

 
—

 
(26
)
 
 
(28
)
 
—

 
—

 
(28
)
 
Net income attributable to SPGI
 
$
303

 
$
(4
)
 
$
7

 
$
307

 
 
$
353

 
$
(18
)
 
$
7

 
$
342

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Diluted EPS
 
$
1.10

 
$
(0.01
)
 
$
0.03

 
$
1.11

 
 
$
1.28

 
$
(0.07
)
 
$
0.03

 
$
1.24

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Q3
 
 
Q4
 
 
 
Reported
 
Non-GAAP Adjustments
 
Deal-Related Amortization
 
Performance
 
 
Reported
 
Non-GAAP Adjustments
 
Deal-Related Amortization
 
Performance
 
Ratings
 
$
194

 
$
86

 
$
1

 
$
281

 
 
$
232

 
$
20

 
$
2

 
$
254

 
Market and Commodities Intelligence
 
146

 
32

 
15

 
192

 
 
142

 
25

 
24

 
190

 
Indices
 
106

 
—

 
1

 
108

 
 
94

 
—

 
1

 
96

 
Segment operating profit
 
446

 
118

 
17

 
581

 
 
468

 
45

 
27

 
540

 
Unallocated expense  
 
(36
)
 
—

 
—

 
(36
)
 
 
(44
)
 
9

 
—

 
(35
)
 
Operating profit
 
410

 
118

 
17

 
545

 
 
424

 
54

 
27

 
505

 
Interest expense, net  
 
30

 
—

 
—

 
30

 
 
40

 
—

 
—

 
40

 
Income before taxes on income
 
380

 
118

 
17

 
515

 
 
384

 
54

 
27

 
465

 
Provision for taxes on income
 
99

 
45

 
6

 
150

 
 
108

 
18

 
7

 
133

 
Net income
 
281

 
73

 
11

 
365

 
 
276

 
36

 
20

 
332

 
Less: NCI net income
 
(29
)
 
—

 
—

 
(29
)
 
 
(28
)
 
—

 
—

 
(28
)
 
Net income attributable to SPGI
 
$
252

 
$
73

 
$
11

 
$
336

 
 
$
248

 
$
36

 
$
20

 
$
304

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Diluted EPS
 
$
0.92

 
$
0.27

 
$
0.04

 
$
1.22

 
 
$
0.91

 
$
0.13

 
$
0.07

 
$
1.12

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Full Year
 
 
 
 
 
 
 
 
 
 
 
 
Reported
 
Non-GAAP Adjustments
 
Deal-Related Amortization
 
Performance
 
 
 
 
 
 
 
 
 
 
Ratings
 
$
1,078

 
$
68

 
$
5

 
$
1,151

 
 
 
 
 
 
 
 
 
 
Market and Commodities Intelligence
 
585

 
70

 
57

 
712

 
 
 
 
 
 
 
 
 
 
Indices
 
392

 
—

 
5

 
397

 
 
 
 
 
 
 
 
 
 
Segment operating profit
 
2,055

 
138

 
67

 
2,260

 
 
 
 
 
 
 
 
 
 
Unallocated expense  
 
(138
)
 
(2
)
 
—

 
(139
)
 
 
 
 
 
 
 
 
 
 
Operating profit
 
1,917

 
136

 
67

 
2,121

 
 
 
 
 
 
 
 
 
 
Interest expense, net  
 
102

 
—

 
—

 
102

 
 
 
 
 
 
 
 
 
 
Income before taxes on income
 
1,815

 
136

 
67

 
2,019

 
 
 
 
 
 
 
 
 
 
Provision for taxes on income
 
547

 
48

 
23

 
619

 
 
 
 
 
 
 
 
 
 
Net income
 
1,268

 
88

 
44

 
1,400

 
 
 
 
 
 
 
 
 
 
Less: NCI net income
 
(112
)
 
—

 
—

 
(112
)
 
 
 
 
 
 
 
 
 
 
Net income attributable to SPGI
 
$
1,156

 
$
88

 
$
44

 
$
1,288

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Diluted EPS
 
$
4.21

 
$
0.32

 
$
0.16

 
$
4.69

 
 
 
 
 
 
 
 
 
 
Note - Totals presented may not sum due to rounding.