Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2016

Business Combinations [Abstract]

Schedule of Preliminary Purchase Price Allocation

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

(in millions)
Current assets	$	29
Property, plant and equipment	19
Goodwill	1,574
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	2,395
Current liabilities	(43		)
Unearned revenue	(117		)
Other non-current liabilities	(1		)
Total liabilities acquired	(161		)
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)	Year ended December 31,
	2016		2015		2014
Fair value of assets acquired	$	253	$	2,576	$	67
Cash paid (net of cash acquired)	211		2,401		52
Liabilities assumed	$	42	$	175	$	15

Key Components of Disposal Groups

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

(in millions)	Year ended
	December 31, 2014
Revenue	$	139
Expenses	110
Operating income	29
Provision for taxes on income	11
Income from discontinued operations, net of tax	18
Pre-tax gain on sale from discontinued operations	289
Provision for taxes on gain on sale	129
Gain on sale of discontinued operations, net of tax	160
Income from discontinued operations attributable to S&P Global Inc. common shareholders	$	178

The components of assets and liabilities held for sale in the consolidated balance sheet consist of the following:

(in millions)	December 31,		December 31,
	2016 1		2015 2
Accounts receivable, net	$	4	$	58
Goodwill	—		75
Other intangible assets, net	—		335
Other assets	3		35
Assets of a business held for sale	$	7	$	503
Accounts payable and accrued expenses	$	3	$	42
Unearned revenue	7		64
Other liabilities	35		100
Liabilities of a business held for sale	$	45	$	206

¹ Assets and liabilities held for sale as of December 31, 2016 relate to QuantHouse.

² Assets and liabilities held for sale as of December 31, 2015 relate to J.D. Power.

The operating profit of our businesses that were disposed of or held for sale for the years ending December 31, 2016, 2015, and 2014 is as follows:

(in millions)	Year ended December 31,
	2016		2015		2014
Operating profit 1	$	62	$	85	$	71

¹ The year ended December 31, 2016 excludes a pre-tax gain of $1.1 billion on our dispositions.