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Segment and Related Information
 6 Months Ended
Jun. 30, 2017
Segment Reporting [Abstract]  
Segment and Related Information
Segment and Related Information

We have three reportable segments: Ratings, Market and Commodities Intelligence and Indices. Our Chief Executive Officer is our chief operating decision-maker and evaluates performance of our segments and allocates resources based primarily on operating profit. Segment operating profit does not include unallocated expense or interest expense as these are costs that do not affect the operating results of our segments.

A summary of operating results by segment for the periods ended June 30 is as follows: 
Three Months
2017
 
2016
(in millions)
Revenue
 
Operating Profit
 
Revenue
 
Operating Profit
Ratings 1
$
747

 
$
397

 
$
682

 
$
396

Market and Commodities Intelligence 2
606

 
191

 
671

 
186

Indices 3
184

 
119

 
153

 
100

Intersegment elimination 4
(28
)
 
—

 
(24
)
 
—

Total operating segments
1,509

 
707

 
1,482

 
682

Unallocated expense 5
—

 
(30
)
 
—

 
(31
)
Total
$
1,509

 
$
677

 
$
1,482

 
$
651


Six Months
2017
 
2016
(in millions)
Revenue
 
Operating Profit
 
Revenue
 
Operating Profit
Ratings 1
$
1,461

 
$
773

 
$
1,234

 
$
658

Market and Commodities Intelligence 2
1,199

 
378

 
1,333

 
369

Indices 3
355

 
233

 
304

 
200

Intersegment elimination 4
(53
)
 
—

 
(48
)
 
—

Total operating segments
2,962

 
1,384

 
2,823

 
1,227

Unallocated expense 5
—

 
(60
)
 
—

 
(64
)
Total
$
2,962

 
$
1,324

 
$
2,823

 
$
1,163


1 
Operating profit for the six months ended June 30, 2017 includes legal settlement expenses of $2 million. Operating profit for the three and six months ended June 30, 2016 includes a benefit related to net legal settlement insurance recoveries of $34 million and $46 million, respectively, and employee severance charges of $6 million. Operating profit also includes amortization of intangibles from acquisitions of $1 million for the three months ended June 30, 2017 and 2016 and $2 million and $3 million for the six months ended June 30, 2017 and 2016, respectively.
2 
Operating profit includes a charge to exit a leased facility of $6 million, employee severance charges of $5 million and an asset write-off of $2 million for the three and six months ended June 30, 2017 and non-cash acquisition and disposition-related adjustments of $15 million for the six months ended June 30, 2017. Operating profit includes disposition-related costs of $10 million and $12 million for the three and six months ended June 30, 2016, respectively, and a technology-related impairment charge of $24 million for the six months ended June 30, 2016. Operating profit also includes amortization of intangibles from acquisitions of $23 million and $21 million for the three months ended June 30, 2017 and 2016, respectively, and $44 million and $41 million for the six months ended June 30, 2017 and 2016, respectively.
3 
Operating profit includes amortization of intangibles from acquisitions of $1 million for the three months ended June 30, 2017 and 2016 and $3 million for the six months ended June 30, 2017 and 2016.
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 
Operating profit for the three and six months ended June 30, 2016 includes $3 million from a disposition-related reserve release.

The following provides revenue by geographic region for the periods ended June 30:
(in millions)
Three Months
 
Six Months
 
2017
 
2016
 
2017
 
2016
U.S.
$
922

 
$
910

 
$
1,813

 
$
1,750

European region
360

 
339

 
706

 
636

Asia
142

 
156

 
275

 
293

Rest of the world
85

 
77

 
168

 
144

Total
$
1,509

 
$
1,482

 
$
2,962

 
$
2,823



See Note 2 — Acquisitions and Divestitures and Note 10 — Restructuring for additional actions that impacted the segment operating results.