XML 77 R60.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidating Financial Statements - Statement of Cash Flows (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Operating Activities:        
Net income $ 452 $ 923 $ 1,339 $ 1,659
Adjustments to reconcile net income to cash provided by operating activities:        
Depreciation     61 63
Amortization of intangibles     73 71
Provision for losses on accounts receivable     17 10
Stock-based compensation     65 54
Gain on disposition 0 (722) 0 (722)
Other     42 48
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:        
Accounts receivable     (64) (26)
Prepaid and other current assets     3 5
Accounts payable and accrued expenses     (50) (81)
Unearned revenue     (107) (6)
Accrued legal settlements     (4) (134)
Other current liabilities     (94) (10)
Net change in prepaid/accrued income taxes     (42) 383
Net change in other assets and liabilities     (36) (57)
Cash provided by operating activities     1,203 1,257
Investing Activities:        
Capital expenditures     (77) (67)
Acquisitions, net of cash acquired     (80) (145)
Proceeds from dispositions     2 1,071
Changes in short-term investments     0 (1)
Cash (used for) provided by investing activities     (155) 858
Financing Activities:        
Payments on short-term debt, net     0 (143)
Proceeds from issuance of senior notes, net     0 493
Dividends paid to shareholders     (316) (286)
Distributions to noncontrolling interest holders     (69) (59)
Contingent consideration payments     0 (15)
Repurchase of treasury shares     (846) (1,123)
Exercise of stock options     69 84
Employee withholding tax on share-based payments     (49) (55)
Intercompany financing activities     0 0
Cash used for financing activities     (1,211) (1,104)
Effect of exchange rate changes on cash from continuing operations     83 (93)
Net change in cash and cash equivalents     (80) 918
Cash and cash equivalents at beginning of period     2,392 1,481
Cash and cash equivalents at end of period 2,312 2,399 2,312 2,399
Eliminations        
Operating Activities:        
Net income (422) (581) (4,199) (2,637)
Adjustments to reconcile net income to cash provided by operating activities:        
Depreciation     0 0
Amortization of intangibles     0 0
Provision for losses on accounts receivable     0 0
Stock-based compensation     0 0
Gain on disposition   0   0
Other     0 0
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:        
Accounts receivable     0 0
Prepaid and other current assets     0 0
Accounts payable and accrued expenses     0 0
Unearned revenue     0 0
Accrued legal settlements     0 0
Other current liabilities     0 0
Net change in prepaid/accrued income taxes     0 0
Net change in other assets and liabilities     0 0
Cash provided by operating activities     (4,199) (2,637)
Investing Activities:        
Capital expenditures     0 0
Acquisitions, net of cash acquired     0 0
Proceeds from dispositions     0 0
Changes in short-term investments       0
Cash (used for) provided by investing activities     0 0
Financing Activities:        
Payments on short-term debt, net       0
Proceeds from issuance of senior notes, net       0
Dividends paid to shareholders     0 0
Distributions to noncontrolling interest holders     0 0
Contingent consideration payments       0
Repurchase of treasury shares     0 0
Exercise of stock options     0 0
Employee withholding tax on share-based payments     0 0
Intercompany financing activities     4,199 2,637
Cash used for financing activities     4,199 2,637
Effect of exchange rate changes on cash from continuing operations     0 0
Net change in cash and cash equivalents     0 0
Cash and cash equivalents at beginning of period     0 0
Cash and cash equivalents at end of period 0 0 0 0
S&P Global Inc.        
Operating Activities:        
Net income 427 1,016 2,735 2,341
Adjustments to reconcile net income to cash provided by operating activities:        
Depreciation     24 28
Amortization of intangibles     0 0
Provision for losses on accounts receivable     1 2
Stock-based compensation     23 17
Gain on disposition   (705)   (705)
Other     27 (66)
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:        
Accounts receivable     (2) 5
Prepaid and other current assets     (8) (7)
Accounts payable and accrued expenses     (19) (24)
Unearned revenue     14 20
Accrued legal settlements     0 0
Other current liabilities     (42) (15)
Net change in prepaid/accrued income taxes     (27) 328
Net change in other assets and liabilities     (42) (35)
Cash provided by operating activities     2,684 1,889
Investing Activities:        
Capital expenditures     (34) (34)
Acquisitions, net of cash acquired     0 (140)
Proceeds from dispositions     0 1,047
Changes in short-term investments       0
Cash (used for) provided by investing activities     (34) 873
Financing Activities:        
Payments on short-term debt, net       (143)
Proceeds from issuance of senior notes, net       493
Dividends paid to shareholders     (316) (286)
Distributions to noncontrolling interest holders     0 0
Contingent consideration payments       (5)
Repurchase of treasury shares     (846) (1,123)
Exercise of stock options     63 83
Employee withholding tax on share-based payments     (49) (55)
Intercompany financing activities     (1,960) (1,155)
Cash used for financing activities     (3,108) (2,191)
Effect of exchange rate changes on cash from continuing operations     (10) 0
Net change in cash and cash equivalents     (468) 571
Cash and cash equivalents at beginning of period     711 167
Cash and cash equivalents at end of period 243 738 243 738
Standard & Poor's Financial Services LLC        
Operating Activities:        
Net income 113 223 409 663
Adjustments to reconcile net income to cash provided by operating activities:        
Depreciation     9 7
Amortization of intangibles     0 0
Provision for losses on accounts receivable     2 0
Stock-based compensation     15 12
Gain on disposition   0   0
Other     15 3
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:        
Accounts receivable     (73) 159
Prepaid and other current assets     2 13
Accounts payable and accrued expenses     56 (147)
Unearned revenue     17 (385)
Accrued legal settlements     (1) (108)
Other current liabilities     (11) (25)
Net change in prepaid/accrued income taxes     (18) 0
Net change in other assets and liabilities     (5) 29
Cash provided by operating activities     417 221
Investing Activities:        
Capital expenditures     (17) (11)
Acquisitions, net of cash acquired     0 0
Proceeds from dispositions     0 0
Changes in short-term investments       0
Cash (used for) provided by investing activities     (17) (11)
Financing Activities:        
Payments on short-term debt, net       0
Proceeds from issuance of senior notes, net       0
Dividends paid to shareholders     0 0
Distributions to noncontrolling interest holders     0 0
Contingent consideration payments       0
Repurchase of treasury shares     0 0
Exercise of stock options     0 0
Employee withholding tax on share-based payments     0 0
Intercompany financing activities     (400) (210)
Cash used for financing activities     (400) (210)
Effect of exchange rate changes on cash from continuing operations     0 0
Net change in cash and cash equivalents     0 0
Cash and cash equivalents at beginning of period     0 0
Cash and cash equivalents at end of period 0 0 0 0
Non-Guarantor Subsidiaries        
Operating Activities:        
Net income 334 265 2,394 1,292
Adjustments to reconcile net income to cash provided by operating activities:        
Depreciation     28 28
Amortization of intangibles     73 71
Provision for losses on accounts receivable     14 8
Stock-based compensation     27 25
Gain on disposition   (17)   (17)
Other     0 111
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions:        
Accounts receivable     11 (190)
Prepaid and other current assets     9 (1)
Accounts payable and accrued expenses     (87) 90
Unearned revenue     (138) 359
Accrued legal settlements     (3) (26)
Other current liabilities     (41) 30
Net change in prepaid/accrued income taxes     3 55
Net change in other assets and liabilities     11 (51)
Cash provided by operating activities     2,301 1,784
Investing Activities:        
Capital expenditures     (26) (22)
Acquisitions, net of cash acquired     (80) (5)
Proceeds from dispositions     2 24
Changes in short-term investments       (1)
Cash (used for) provided by investing activities     (104) (4)
Financing Activities:        
Payments on short-term debt, net       0
Proceeds from issuance of senior notes, net       0
Dividends paid to shareholders     0 0
Distributions to noncontrolling interest holders     (69) (59)
Contingent consideration payments       (10)
Repurchase of treasury shares     0 0
Exercise of stock options     6 1
Employee withholding tax on share-based payments     0 0
Intercompany financing activities     (1,839) (1,272)
Cash used for financing activities     (1,902) (1,340)
Effect of exchange rate changes on cash from continuing operations     93 (93)
Net change in cash and cash equivalents     388 347
Cash and cash equivalents at beginning of period     1,681 1,314
Cash and cash equivalents at end of period $ 2,069 $ 1,661 $ 2,069 $ 1,661