Segment and Related Information

6 Months Ended

Jun. 30, 2011

Segment and Related Information [Abstract]

Segment and Related Information

12. Segment and Related Information

We have four reportable segments: Standard & Poor’s (“S&P”), McGraw-Hill Financial (“MH Financial”), McGraw-Hill Education (“MHE”) and McGraw-Hill Information & Media (“I&M”).

• S&P is the world’s foremost provider of credit ratings providing investors with information and independent ratings benchmarks for their investment and financial decisions.

• MH Financial is a leading global provider of digital and traditional research and analytical tools for investment advisors, wealth managers and institutional investors.

• MHE is a leading global provider of educational materials, information and solutions serving the elementary and high school, college, professional, international and adult education markets.

• I&M consists of business-to-business and business-to-consumer companies, each an expert in its industry, that deliver their customers access to actionable data and analytics.

The Executive Committee, consisting of our principal corporate executives, is our chief operating decision-maker and evaluates performance of our segments and allocates resources based primarily on operating income. A summary of operating results by segment for the periods ended June 30 is as follows:

	2011						2010
				Operating						Operating
Three Months	Revenue			Income			Revenue			Income
S&P	$	480.3		$	212.7		$	405.0		$	181.4
MH Financial		333.4			97.8			293.6			83.4
MHE		536.6			42.2			565.1			51.6
I&M		246.0			50.3			224.2			47.5
Intersegment elimination		(15.5	)1		—			(13.8	) 1		—
Total operating segments		1,580.8			403.0			1,474.1			363.9
General corporate expense		—			(44.2	)		—			(37.6	)
Total Company	$	1,580.8		$	358.8	2	$	1,474.1		$	326.3	2

	2011						2010
				Operating						Operating
Six Months	Revenue			Income (Loss)			Revenue			Income (Loss)
S&P	$	923.2		$	403.1		$	806.3		$	370.2
MH Financial		657.4			194.1			572.5			154.6
MHE		839.3			(33.3	)		882.2			(10.2	)
I&M		473.5			87.7			430.4			75.3
Intersegment elimination		(30.7	) 1		—			(27.0	) 1		—
Total operating segments		2,862.7			651.6			2,664.4			589.9
General corporate expense		—			(78.4	)		—			(73.4	)
Total Company	$	2,862.7		$	573.2	2	$	2,664.4		$	516.5	2

1	Revenue for S&P and expenses for MH Financial include an intersegment royalty charged to MH Financial for the rights to use and distribute content and data developed by S&P
2	Income before taxes on income and interest expense, net
See Note 2 — Acquisitions and Dispositions, and Note 11 — Restructuring for actions that impacted the segment operating results.