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Segment and Related Information
 9 Months Ended
Sep. 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 September 30 is as follows: 
Three Months
2017
 
2016
(in millions)
Revenue
 
Operating Profit
 
Revenue
 
Operating Profit
Ratings 1
$
739

 
$
376

 
$
642

 
$
346

Market and Commodities Intelligence 2
615

 
208

 
658

 
924

Indices 3
187

 
119

 
164

 
107

Intersegment elimination 4
(28
)
 
—

 
(25
)
 
—

Total operating segments
1,513

 
703

 
1,439

 
1,377

Unallocated expense 5
—

 
(45
)
 
—

 
(29
)
Total
$
1,513

 
$
658

 
$
1,439

 
$
1,348


Nine Months
2017
 
2016
(in millions)
Revenue
 
Operating Profit
 
Revenue
 
Operating Profit
Ratings 1
$
2,199

 
$
1,149

 
$
1,877

 
$
1,004

Market and Commodities Intelligence 2
1,815

 
586

 
1,990

 
1,293

Indices 3
542

 
352

 
468

 
308

Intersegment elimination 4
(81
)
 
—

 
(73
)
 
—

Total operating segments
4,475

 
2,087

 
4,262

 
2,605

Unallocated expense 5
—

 
(105
)
 
—

 
(93
)
Total
$
4,475

 
$
1,982

 
$
4,262

 
$
2,512

1 
Operating profit includes employee severance charges of $15 million for the three and nine months ended September 30, 2017 and legal settlement expenses of $2 million for the nine months ended September 30, 2017. Operating profit includes a benefit related to net legal settlement insurance recoveries of $17 million and $63 million for the three and nine months ended September 30, 2016, respectively, and employee severance charges of $6 million for the nine months ended September 30, 2016. Operating profit also includes amortization of intangibles from acquisitions of $1 million for the three months ended September 30, 2017 and 2016 and $3 million and $4 million for the nine months ended September 30, 2017 and 2016, respectively.
2 
Operating profit for the nine months ended September 30, 2017 includes a charge to exit a leased facility of $6 million, employee severance charges of $5 million, an asset write-off of $2 million, and non-cash acquisition and disposition-related adjustments of $15 million. As of September 7, 2016, we completed the sale of J.D. Power with the results included in Market and Commodities Intelligence results through that date. Operating profit for the three and nine months ended September 30, 2016 includes disposition-related costs of $6 million and $17 million, respectively, an acquisition-related cost of $1 million, and a gain on the sale of J.D. Power of $722 million. Operating profit for the nine months ended September 30, 2016 includes a technology-related impairment charge of $24 million. Operating profit also includes amortization of intangibles from acquisitions of $22 million and $21 million for the three months ended September 30, 2017 and 2016, respectively, and $66 million and $63 million for the nine months ended September 30, 2017 and 2016, respectively.
3 
Operating profit includes amortization of intangibles from acquisitions of $1 million for the three months ended September 30, 2017 and 2016 and $4 million for the nine months ended September 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 includes employee severance charges of $4 million for the three and nine months ended September 30, 2017 and a disposition-related reserve release of $3 million for the nine months ended September 30, 2016.

The following provides revenue by geographic region for the periods ended September 30:
(in millions)
Three Months
 
Nine Months
 
2017
 
2016
 
2017
 
2016
U.S.
$
916

 
$
887

 
$
2,733

 
$
2,641

European region
359

 
333

 
1,062

 
966

Asia
157

 
145

 
431

 
437

Rest of the world
81

 
74

 
249

 
218

Total
$
1,513

 
$
1,439

 
$
4,475

 
$
4,262



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