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Segment and Geographic Information (Tables)
 12 Months Ended
Dec. 31, 2016
Segment Reporting [Abstract]  
Segment Information
Segment information for the years ended December 31 is as follows:
 
(in millions)
Revenue
 
Operating Profit (Loss)
 
2016
2015
2014
 
2016
2015
2014
Ratings 1
$
2,535

 
$
2,428

 
$
2,455

 
$
1,262

 
$
1,078

 
$
(583
)
Market and Commodities Intelligence 2
2,585

 
2,376

 
2,130

 
1,822

 
585

 
518

Indices 3
639

 
597

 
552

 
412

 
392

 
347

Intersegment elimination 4
(98
)
 
(88
)
 
(86
)
 
—

 
—

 
—

Total operating segments
5,661

 
5,313

 
5,051

 
3,496

 
2,055

 
282

Unallocated expense 5
—

 
—

 
—

 
(127
)
 
(138
)
 
(169
)
Total
$
5,661

 
$
5,313

 
$
5,051

 
$
3,369

 
$
1,917

 
$
113

1 
Operating profit for the year ended December 31, 2016 primarily includes a benefit related to net legal settlement insurance recoveries of $10 million and restructuring charges of $6 million. Operating profit for the year ended December 31, 2015 includes net legal settlement expenses of $54 million and restructuring charges of $13 million. Operating profit for the year ended December 31, 2014 includes legal and regulatory settlements of $1.6 billion and restructuring charges of $45 million. Additionally, operating profit includes amortization of intangibles from acquisitions of $5 million for the years ended December 31, 2016 and 2015 and $6 million for the year ended December 31, 2014.
2 
Operating profit for the year ended December 31, 2016 includes a $1.1 billion gain from our dispositions, disposition-related costs of $48 million, a technology-related impairment charge of $24 million and an acquisition-related cost of $1 million. Operating profit for the year ended December 31, 2015 includes acquisition-related costs related to the acquisition of SNL of $37 million and costs identified operating efficiencies primarily related to restructuring of $33 million. Operating profit for the year ended December 31, 2014 includes restructuring charges of $25 million. Additionally, operating profit includes amortization of intangibles from acquisitions of $85 million, $57 million and $37 million for the years ended December 31, 2016, 2015, and 2014, respectively.
3 
Operating profit for the year ended December 31, 2014 includes the impact of professional fees largely related to corporate development activities of $4 million. Additionally, operating profit includes amortization of intangibles from acquisitions of $6 million for the year ended December 31, 2016 and $5 million for the years ended December 31, 2015 and 2014.
4 
Revenue for Ratings and expenses for Market and Commodities Intelligence include an intersegment royalty charged to Market and Commodities Intelligence for the rights to use and distribute content and data developed by Ratings.
5 
The year ended December 31, 2016 includes $3 million from a disposition-related reserve release. The year ended December 31, 2015 includes a gain of $11 million related to the sale of our interest in a legacy McGraw Hill Construction investment and costs related to identified operating efficiencies primarily related to restructuring of $10 million. The year ended December 31, 2014 includes restructuring charges of $16 million.
(in millions)
Depreciation & Amortization
 
Capital Expenditures
 
2016
2015
2014
 
2016
2015
2014
Ratings
$
34

 
$
43

 
$
43

 
$
42

 
$
48

 
$
33

Market and Commodities Intelligence
131

 
99

 
74

 
57

 
78

 
49

Indices
8

 
8

 
7

 
3

 
4

 
2

Total operating segments
173

 
150

 
124

 
102

 
130

 
84

Corporate
8

 
7

 
10

 
13

 
9

 
8

Total
$
181

 
$
157

 
$
134

 
$
115

 
$
139

 
$
92


Segment information as of December 31 is as follows:
(in millions)
Total Assets
 
2016
 
2015
Ratings
$
612

 
$
620

Market and Commodities Intelligence
4,104

 
4,011

Indices
1,247

 
1,181

Total operating segments
5,963

 
5,812

Corporate 1
2,699

 
1,868

Assets of a business held for sale 2
7

 
503

Total
$
8,669

 
$
8,183

1 
Corporate assets consist principally of cash and cash equivalents, assets for pension benefits, deferred income taxes and leasehold improvements related to subleased areas.
2 
Includes QuantHouse and J.D. Power as of December 31, 2016 and 2015, respectively.
Schedule of Revenue and Long-lived Assets by Geographic Region
The following provides revenue and long-lived assets by geographic region:
(in millions)
Revenue
 
Long-lived Assets
 
Year ended December 31,
 
December 31,
 
2016
 
2015
 
2014
 
2016
 
2015
U.S.
$
3,461

 
$
3,202

 
$
2,911

 
$
4,335

 
$
4,198

European region
1,330

 
1,265

 
1,316

 
341

 
419

Asia
575

 
566

 
528

 
58

 
63

Rest of the world
295

 
280

 
296

 
46

 
50

Total
$
5,661

 
$
5,313

 
$
5,051

 
$
4,780

 
$
4,730


 
Revenue
 
Long-lived Assets
 
Year ended December 31,
 
December 31,
 
2016
 
2015
 
2014
 
2016
 
2015
U.S.
61
%
 
60
%
 
58
%
 
91
%
 
89
%
European region
24

 
24

 
26

 
7

 
9

Asia
10

 
11

 
10

 
1

 
1

Rest of the world
5

 
5

 
6

 
1

 
1

Total
100
%
 
100
%
 
100
%
 
100
%
 
100
%