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Acquisitions and Divestitures (Tables)
 3 Months Ended
Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]  
Schedule of preliminary estimated fair value
The preliminary estimated fair value of the consideration transferred for IHS Markit was approximately $43.5 billion as of the merger date, which consisted of the following:

(in millions, except for share and per share data)February 28, 2022
Number of shares IHS Markit issued and outstanding* 400,988,207 
Exchange ratio0.2838
Number of S&P Global common stock transferred to IHS Markit stockholders113,800,453 
Closing price per share of S&P Global common stock**$380.89 
Fair value of S&P Global common stock transferred IHS Markit stockholders$43,345 
Fair value of S&P Global replacement equity awards attributable to pre-combination service$191 
Total equity consideration$43,536 

*Excludes 25,219,470 IHS Markit shares held by the Markit Group Holdings Limited Employee Benefit Trust ("EBT"). The shares held by the EBT were converted in the merger into S&P Global shares at the exchange ratio of 0.2838 and will continue to be held by the trustee in the EBT.

**Based on S&P Global's closing stock price on February 25, 2022.
Schedule of recognized identified assets acquired and liabilities assumed The preliminary allocation of purchase price recorded for IHS Markit was as follows:
(in millions)February 28, 2022
Assets acquired
Cash and cash equivalents$310 
Accounts receivable, net968 
Prepaid and other current assets244 
Assets of a business held for sale 1,519 
Property and equipment122 
Right of use assets234 
Goodwill30,136 
Other intangible assets20,002 
Other non-current assets1,730 
Total assets acquired$55,265 
Liabilities assumed
Account payable$174 
Accrued compensation81 
Short-term debt968 
Unearned revenue1,053 
Other current liabilities577 
Liabilities of a business held for sale72 
Long-term debt 4,191 
Lease liabilities - non-current227 
Deferred tax liability - non-current4,330 
Other non-current liabilities56 
Total liabilities assumed$11,729 
Total consideration transferred$43,536 
Schedule of finite-lived intangible assets
The following table sets forth the components of the identifiable intangible assets acquired and their estimated useful lives:

(in millions)Fair ValueWeighted Average Useful Lives
Customer relationships$14,552 25 years
Trade names and trademarks1,542 14 years
Developed technology1,150 10 years
Databases2,758 12 years
Total Identified Intangible Assets$20,002 21 years
Schedule of expected amortization expense
Expected amortization expense for intangible assets over the next five years for the years ended December 31 is as follows:

(in millions)20222023202420252026
Amortization expense$1,148 $1,143 $1,141 $1,114 $1,092 
Schedule of acquisition, pro forma information The pro forma results do not include any transaction costs, anticipated synergies or other expected benefits of the acquisition.
Three months ended
March 31
(in millions)20222021
Revenue$3,072 $3,022 
Net Income1
$1,519 $644 
1 The proforma net income excludes $362 million of one-time merger and transaction costs for the three months ended March 31, 2022.
Schedule of components of assets and liabilities held for sale
The components of assets and liabilities held for sale in the consolidated balance sheet consist of the following:

(in millions)March 31,December 31,
2022 1
2021 2
Accounts Receivable, net 26 $59 
Goodwill381 255 
Other assets— 7 
Assets of businesses held for sale$407 $321 
Accounts payable and accrued expenses$— $11 
Unearned revenue66 138 
Liabilities of businesses held for sale$66 $149 
1 Assets and liabilities held for sale as of March 31, 2022 relate to LCD and the base chemicals business.
2 Assets and liabilities held for sale as of December 31, 2021 relate to CGS and LCD.

The operating profit of our businesses that were disposed of or classified as held for sale for the three months ended March 31 is as follows:
(in millions)20222021
Operating profit 3
$34 $42 
3 The operating profit presented includes the revenue and recurring direct expenses associated with businesses disposed of or held for sale. The three months ended March 31, 2022 and 2021 excludes pre-tax gains related to the sale CGS and SPIAS of $1.3 billion and $2 million, respectively.