Segment and Related Information

3 Months Ended

Mar. 31, 2013

Segment Reporting [Abstract]

Segment and Related Information

Segment and Related Information

We have four reportable segments: S&P Ratings, S&P Capital IQ, S&P DJ Indices and C&C. 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 profit. Segment operating profit does not include unallocated expense or interest expense, which are centrally managed costs. A summary of operating results by segment for the three months ended March 31 is as follows:

(in millions)	2013						2012
	Revenue			Operating Profit			Revenue			Operating Profit
S&P Ratings	$	561		$	259		$	466		$	186
S&P Capital IQ	288			56			274			62
S&P DJ Indices	115			67			79			45
C&C	236			62			233			64
Intersegment elimination 1	(19		)	—			(17		)	—
Total operating segments	1,181			444			1,035			357
Unallocated expense 2	—			(166		)	—			(75		)
Total	$	1,181		$	278		$	1,035		$	282

¹  Revenue for S&P Ratings and expenses for S&P Capital IQ include an intersegment royalty charged to S&P Capital IQ for the rights to use and distribute content and data developed by S&P Ratings.

²  Includes Growth and Value Plan costs of $44 million and $29 million for the three months ended March 31, 2013 and 2012, respectively. Also includes pre-tax legal settlements of approximately $77 million for the three months ended March 31, 2013.

See Note 2 —Acquisitions and Divestitures and Note 9 —Restructuring for additional actions that impacted the segment operating results.