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Segment and Related Information (Tables)
 9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
Schedule of Segment Information
A summary of operating results for the periods ended September 30 is as follows: 
Revenue Three MonthsNine Months
(in millions)2021202020212020
Ratings $1,017 $894 $3,107 $2,725 
Market Intelligence 570 530 1,664 1,565 
Platts 239 222 700 654 
Indices 298 234 846 733 
Intersegment elimination 1
(37)(34)(108)(102)
Total revenue$2,087 $1,846 $6,209 $5,575 
Operating ProfitThree MonthsNine Months
(in millions)2021202020212020
Ratings 2
$644$544$2,054$1,758
Market Intelligence 3
187164533469
Platts 4
128121392357
Indices 5
213151600504
Total reportable segments1,1729803,5793,088
Corporate Unallocated expense6
(89)(36)(262)(128)
Total operating profit$1,083$944$3,317$2,960
1Revenue for Ratings and expenses for Market Intelligence include an intersegment royalty charged to Market Intelligence for the rights to use and distribute content and data developed by Ratings.
2 Operating profit for the three and nine months ended September 30, 2020 include a technology-related impairment charge of $5 million. Operating profit for three and nine months ended September 30, 2021 includes amortization of intangibles from acquisitions of $2 million and $8 million, respectively, and $3 million and $5 million for the three and nine months ended September 30, 2020, respectively.
3 Operating profit for nine months ended September 30, 2021 includes a gain on disposition of $2 million, and operating profit for the three and nine months ended September 30, 2020 includes a gain on dispositions of $4 million and $12 million, respectively. Operating profit for nine months ended September 30, 2020 includes employee severance charges of $2 million. Additionally, operating profit includes amortization of intangibles from acquisitions of $16 million and $49 million for three and nine months ended September 30, 2021, respectively, and $19 million and $58 million for three and nine months ended September 30, 2020, respectively.
4 Operating profit includes amortization of intangibles from acquisitions of $2 million for the three months ended September 30, 2021 and 2020, and $6 million and $7 million for the nine months ended September 30, 2021 and 2020, respectively.
5 Operating profit includes amortization of intangibles from acquisitions of $1 million for the three months ended September 30, 2021 and 2020, and $4 million for the nine months ended September 30, 2021 and 2020.
6 Corporate Unallocated expense for the three and nine months ended September 30, 2021 includes IHS Markit merger costs of $54 million and $153 million, respectively, and a gain on disposition of $3 million, and for nine months ended September 30, 2021 includes a lease impairment of $3 million and Kensho retention related expense of $2 million. Corporate Unallocated expense for the three and nine months ended September 30, 2020 includes a gain on disposition of $4 million, Kensho retention related expense of $2 million and $10 million, respectively, and employee severance charges of $10 million for the nine months ended September 30, 2020. Corporate Unallocated expense also includes amortization of intangibles from acquisitions of $7 million for the nine months ended September 30, 2021, and $7 million and $20 million for the three and nine months ended September 30, 2020, respectively.

The following table presents our revenue disaggregated by revenue type for the periods ended September 30:
(in millions)RatingsMarket IntelligencePlattsIndices
Intersegment Elimination 1
Total
Three Months Ended September 30, 2021
Subscription$— $557 $220 $47 $— $824 
Non-subscription / Transaction551 13 2 — — 566 
Non-transaction466 — — — (37)429 
Asset-linked fees— — — 211 — 211 
Sales usage-based royalties— — 17 40 — 57 
Total revenue$1,017 $570 $239 $298 $(37)$2,087 
Timing of revenue recognition
Services transferred at a point in time
$551 $13 $2 $— $— $566 
Services transferred over time
466 557 237 298 (37)1,521 
Total revenue$1,017 $570 $239 $298 $(37)$2,087 
Nine Months Ended September 30, 2021
Subscription$— $1,624 $645 $140 $— $2,409 
Non-subscription / Transaction1,748 40 6 — — 1,794 
Non-transaction1,359 — — — (108)1,251 
Asset-linked fees— — — 589 — 589 
Sales usage-based royalties— — 49 117 — 166 
Other revenue— — — — — — 
Total revenue$3,107 $1,664 $700 $846 $(108)$6,209 
Timing of revenue recognition
Services transferred at a point in time
$1,748 $40 $6 $— $— $1,794 
Services transferred over time
1,359 1,624 694 846 (108)4,415 
Total revenue$3,107 $1,664 $700 $846 $(108)$6,209 
(in millions)RatingsMarket IntelligencePlattsIndices
Intersegment Elimination 1
Total
Three Months Ended September 30, 20202
Subscription$— $517 $205 $43 $— $765 
Non-subscription / Transaction488 13 2 — — 503 
Non-transaction406 — — — (34)372 
Asset-linked fees— — — 156 — 156 
Sales usage-based royalties— — 15 35 — 50 
Total revenue$894 $530 $222 $234 $(34)$1,846 
Timing of revenue recognition
Services transferred at a point in time$488 $13 $2 $— $— $503 
Services transferred over time406 517 220 234 (34)1,343 
Total revenue$894 $530 $222 $234 $(34)$1,846 
Nine Months Ended September 30, 20202
Subscription$— $1,525 $603 $132 $— $2,260 
Non-subscription / Transaction1,540 39 4 — — 1,583 
Non-transaction1,185 — — — (102)1,083 
Asset-linked fees— 1 — 468 — 469 
Sales usage-based royalties— — 47 133 — 180 
Other revenue— — — — — — 
Total revenue$2,725 $1,565 $654 $733 $(102)$5,575 
Timing of revenue recognition
Services transferred at a point in time
$1,540 $39 $4 $— $— $1,583 
Services transferred over time1,185 1,526 650 733 (102)3,992 
Total revenue$2,725 $1,565 $654 $733 $(102)$5,575 
1 Intersegment eliminations primarily consists of a royalty charged to Market Intelligence for the rights to use and distribute content and data developed by Ratings.
2 In the first quarter of 2021, we reevaluated our transaction and non-transaction presentation for Ratings which resulted in a reclassification from transaction revenue to non-transaction revenue of $2 million and $6 million for the three and nine months ended September 30, 2020, respectively.
Schedule of Revenue by Geographic Region
The following provides revenue by geographic region for the periods ended September 30:
(in millions)Three MonthsNine Months
2021202020212020
U.S.$1,260 $1,076 $3,761 $3,384 
European region498 455 1,497 1,310 
Asia227 214 648 585 
Rest of the world102 101 303 296 
Total$2,087 $1,846 $6,209 $5,575