← Filings of SPGI
Tables in the 10-Q of S&P Global Inc.
56 tables with numbers, filed Oct 28, 2026. Each one downloads as a CSV for Excel or
Google Sheets, with the filing's address in the last row. Only the layout is tidied (a "$" or ")" in a cell of its own is joined to its number); no value is changed.
Open the filing on sec.gov ↗
| Page Number |
| PART I. FINANCIAL INFORMATION | |
| Item 1. Financial Statements (Unaudited) | |
| Report of Independent Registered Public Accounting Firm | 3 |
| Consolidated Statements of Income for the three and nine months ended September 30, 2026 and 2025 | 4 |
| Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2026 and 2025 | 5 |
| Consolidated Balance Sheets as of September 30, 2026 and December 31, 2025 | 6 |
| Consolidated Statements of Cash Flows for the nine months ended September 30, 2026 and 2025 | 7 |
First 8 of 20 rows. The CSV has all of them.
| (in millions, except per share amounts) | Three Months Ended | Nine Months Ended | | | | | | | |
| September 30, | September 30, | | | | | | | |
| 2026 | 2025 | | 2026 | | 2025 | | | |
| Revenue | $3,678 | | $3,443 | | | $11,074 | | | $10,117 |
| Expenses: | | | | | | | | | |
| Operating-related expenses | 1,034 | | 986 | | | 3,159 | | | 2,996 |
| Selling and general expenses | 660 | | 693 | | | 1,990 | | | 2,032 |
| Depreciation | 29 | | 25 | | | 86 | | | 68 |
First 8 of 40 rows. The CSV has all of them.
| (in millions) | Three Months Ended | Nine Months Ended | | | | |
| September 30, | September 30, | | | | |
| 2026 | 2025 | | 2026 | 2025 | |
| Net income | $1,348 | | $1,265 | | $4,175 | $3,596 |
| Other comprehensive income: | | | | | | |
| Foreign currency translation adjustments | (30) | | 14 | | (90) | (5) |
| Income tax effect | (4) | | (8) | | (17) | 95 |
| (34) | | 6 | | (107) | 90 |
First 8 of 18 rows. The CSV has all of them.
| (in millions) | September 30, 2026 | December 31, 2025 | |
| (Unaudited) | | |
| ASSETS | | | |
| Current assets: | | | |
| Cash and cash equivalents | $2,441 | | $1,707 |
| Restricted cash | — | | — |
| Accounts receivable, net of allowance for doubtful accounts: 2026 - $54; 2025 - $48 | 3,099 | | 3,238 |
| Prepaid and other current assets | 876 | | 886 |
First 8 of 49 rows. The CSV has all of them.
| (in millions) | Nine Months Ended | | |
| September 30, | | |
| 2026 | 2025 | |
| Operating Activities: | | | |
| Net income | $4,175 | | $3,596 |
| Less: discontinued operations, net | 25 | | 246 |
| Income from continuing operations | 4,150 | | 3,350 |
| Adjustments to reconcile income from continuing operations to cash provided by operating activities from continuing operations: | | | |
First 8 of 52 rows. The CSV has all of them.
| Three Months Ended September 30, 2026 | | | | | | | | | | | | | | | | | | |
| (in millions) | Common Stock $1 par | Additional Paid-in Capital | | Retained Income | Accumulated Other Comprehensive Loss | | Less: Treasury Stock | | Total SPGI Equity | | Noncontrolling Interests | | Total Equity | | | | | |
| Balance as of June 30, 2026 | $415 | | $44,547 | | $25,618 | | | $(772) | | | $38,307 | | | 31,501 | | | $115 | $31,616 |
| Comprehensive income 1 | | | | 1,240 | | (30) | | | | | 1,210 | | | 6 | | | 1,216 | |
| Dividends (Dividend declared per common share — $0.97 per share) | | | | (281) | | | | | | (281) | | | (3) | | | (284) | | |
| Separation of Mobility Global | | | | (9,753) | | | | | | (9,753) | | | | | (9,753) | | | |
| Share repurchases, including excise tax | | (520) | | | | | | 2,100 | | | (2,620) | | | | | (2,620) | | |
| Employee stock plans | | (5) | | | | | | (1) | | | (4) | | | | | (4) | | |
First 8 of 11 rows. The CSV has all of them.
| Three Months Ended September 30, 2025 | | | | | | | | | | | | | | | | | | |
| (in millions) | Common Stock $1 par | Additional Paid-in Capital | | Retained Income | Accumulated Other Comprehensive Loss | | Less: Treasury Stock | | Total SPGI Equity | | Noncontrolling Interests | | Total Equity | | | | | |
| Balance as of June 30, 2025 | $415 | | $44,392 | | $22,402 | | | $(795) | | | $33,024 | | | $33,390 | | | $106 | $33,496 |
| Comprehensive income 1 | | | | 1,176 | | (3) | | | | | 1,173 | | | 7 | | | 1,180 | |
| Dividends (Dividend declared per common share — $0.96 per share) | | | | (291) | | | | | | (291) | | | (4) | | | (295) | | |
| Share repurchases, including excise tax | | (110) | | | | | | 1,101 | | | (1,211) | | | | | (1,211) | | |
| Employee stock plans | | 70 | | | | | | (1) | | | 71 | | | | | 71 | | |
| Change in redemption value of redeemable noncontrolling interests | | | | 1 | | | | | | 1 | | | | | 1 | | | |
First 8 of 10 rows. The CSV has all of them.
| Nine Months Ended September 30, 2026 | | | | | | | | | | | | | | | | | | |
| (in millions) | Common Stock $1 par | Additional Paid-in Capital | | Retained Income | Accumulated Other Comprehensive Loss | | Less: Treasury Stock | | Total SPGI Equity | | Noncontrolling Interests | | Total Equity | | | | | |
| Balance as of December 31, 2025 | $415 | | $44,117 | | $23,666 | | | $(697) | | | $36,374 | | | $31,127 | | | $108 | $31,235 |
| Comprehensive income 1 | | | | 3,852 | | (105) | | | | | 3,747 | | | 24 | | | 3,771 | |
| Dividends (Dividend declared per common share — $2.91 per share) | | | | (856) | | | | | | (856) | | | (13) | | | (869) | | |
| Separation of Mobility Global | | | | (9,753) | | | | | | (9,753) | | | | | (9,753) | | | |
| Share repurchases, including excise tax | | (20) | | | | | | 4,117 | | | (4,137) | | | | | (4,137) | | |
| Employee stock plans | | (75) | | | | | | (85) | | | 10 | | | | | 10 | | |
First 8 of 11 rows. The CSV has all of them.
| Nine Months Ended September 30, 2025 | | | | | | | | | | | | | | | | | | |
| (in millions) | Common Stock $1 par | Additional Paid-in Capital | | Retained Income | Accumulated Other Comprehensive Loss | | Less: Treasury Stock | | Total SPGI Equity | | Noncontrolling Interests | | Total Equity | | | | | |
| Balance as of December 31, 2024 | $415 | | $44,321 | | $20,977 | | | $(883) | | | $31,671 | | | $33,159 | | | $97 | $33,256 |
| Comprehensive income 1 | | | | 3,337 | | 85 | | | | | 3,422 | | | 24 | | | 3,446 | |
| Dividends (Dividend declared per common share — $2.88 per share) | | | | (880) | | | | | | (880) | | | (14) | | | (894) | | |
| Share repurchases, including excise tax | | (45) | | | | | | 2,480 | | | (2,525) | | | | | (2,525) | | |
| Employee stock plans | | 76 | | | | | | (27) | | | 103 | | | | | 103 | | |
| Change in redemption value of redeemable noncontrolling interests | | | | (146) | | | | | | (146) | | | | | (146) | | | |
First 8 of 10 rows. The CSV has all of them.
Table 10 after “The components of other income, net for the periods ended September 30 are as follows:”
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| (in millions) | Three Months | Nine Months | | | | |
| 2026 | 2025 | | 2026 | 2025 | |
| Other components of net periodic benefit cost | $(4) | | $(5) | | $(12) | $(17) |
| Net loss (gain) from investments | — | | 3 | | 2 | (8) |
| Other income, net | $(4) | | $(2) | | $(10) | $(25) |
Table 11 after “The components of assets and liabilities held for sale in the consolidated balance sheets consist of the following:”
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| (in millions) | December 31, |
| 2025 1 |
| Accounts receivable, net | $34 |
| Property and equipment, net | 8 |
| Goodwill | 141 |
| Other non-current assets | 13 |
| Assets held for sale | $196 |
| Accounts payable | $9 |
First 8 of 10 rows. The CSV has all of them.
Table 12 after “The key components of (loss) income from discontinued operations for the periods ended September 30 consist of the following:”
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| (in millions) | Three Months | Nine Months | | | | |
| 2026 | 2025 | | 2026 | 2025 | |
| Revenue | $— | | $445 | | $922 | $1,303 |
| Expenses | 70 | | 326 | | 849 | 975 |
| Operating (loss) income | (70) | | 119 | | 73 | 328 |
| Interest expense, net | — | | — | | 3 | — |
| (Loss) income before taxes on (loss) income | (70) | | 119 | | 70 | 328 |
| (Benefit) provision for taxes on (loss) income | (12) | | 21 | | 45 | 82 |
First 8 of 9 rows. The CSV has all of them.
| (in millions) | December 31, |
| ASSETS | 2025 |
| Cash and cash equivalents | $38 |
| Accounts receivable, net | 203 |
| Prepaid and other current assets | 28 |
| Current assets of discontinued operations | 269 |
| Property, plant, and equipment, net | 19 |
| Right of use assets | 16 |
First 8 of 25 rows. The CSV has all of them.
Table 14 after “A summary of short-term and long-term debt outstanding is as follows:”
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| (in millions) | September 30, 2026 | December 31, 2025 | |
| 4.0% Senior Notes, due 2026 1 | $— | | $3 |
| 2.95% Senior Notes, due 2027 2 | 500 | | 499 |
| 2.45% Senior Notes, due 2027 3 | 1,248 | | 1,246 |
| 4.75% Senior Notes, due 2028 4 | 774 | | 784 |
| 4.25% Senior Notes, due 2029 5 | 982 | | 991 |
| 2.5% Senior Notes, due 2029 6 | 498 | | 498 |
| 2.95% Sustainability-Linked Senior Notes, due 2029 7 | 1,243 | | 1,241 |
First 8 of 23 rows. The CSV has all of them.
Table 15 after “The following table provides information on the location and fair value amounts of our cash flow hedges and net investment hedges as of Sept”
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| (in millions) | | September 30, | December 31, | |
| Balance Sheet Location | | 2026 | 2025 | |
| Derivatives designated as cash flow hedges: | | | | |
| Prepaid and other current assets | Foreign exchange forward contracts | $4 | | $5 |
| Other current liabilities | Foreign exchange forward contracts | $10 | | $11 |
| Derivatives designated as net investment hedges: | | | | |
| Other non-current liabilities | Cross currency swaps | $209 | | $294 |
| (in millions) | Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion) | Location of Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (effective portion) | | Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (effective portion) | | | |
| 2026 | 2025 | | | 2026 | 2025 | |
| Cash flow hedges - designated as hedging instruments | | | | | | | |
| Foreign exchange forward contracts | $3 | | $(12) | | Revenue, Selling and general expenses | $(3) | $1 |
| Interest rate swap contracts | $(2) | | $— | | Interest expense, net | $2 | $— |
| Net investment hedges - designated as hedging instruments | | | | | | | |
| Cross currency swaps | $16 | | $33 | | Interest expense, net | $(1) | $(1) |
| (in millions) | Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion) | Location of Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (effective portion) | | Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (effective portion) | | | |
| 2026 | 2025 | | | 2026 | 2025 | |
| Cash flow hedges - designated as hedging instruments | | | | | | | |
| Foreign exchange forward contracts | $3 | | $(7) | | Revenue, Selling and general expenses | $(9) | $5 |
| Interest rate swap contracts | $(5) | | $— | | Interest expense, net | $5 | $— |
| Net investment hedges - designated as hedging instruments | | | | | | | |
| Cross currency swaps | $82 | | $(386) | | Interest expense, net | $(3) | $(3) |
Table 18 after “The activity related to the change in unrealized gains (losses) in accumulated other comprehensive loss was as follows for the periods ended”
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| (in millions) | Three Months | Nine Months | | | | |
| 2026 | 2025 | | 2026 | 2025 | |
| Cash Flow Hedges | | | | | | |
| Foreign exchange forward contracts | | | | | | |
| Net unrealized (losses) gains on cash flow hedges, net of taxes, beginning of period | $(6) | | $4 | | $(6) | $1 |
| Change in fair value, net of tax | (1) | | (8) | | (7) | (1) |
| Reclassification into earnings, net of tax | 3 | | (1) | | 9 | (5) |
| Net unrealized (losses) gains on cash flow hedges, net of taxes, end of period | $(4) | | $(5) | | $(4) | $(5) |
First 8 of 18 rows. The CSV has all of them.
Table 19 after “The components of net periodic benefit cost for our retirement plans and postretirement plans for the periods ended September 30 are as foll”
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| (in millions) | Three Months | Nine Months | | | | |
| 2026 | 2025 | | 2026 | 2025 | |
| Service cost | $— | | $— | | $1 | $1 |
| Interest cost | 17 | | 18 | | 50 | 53 |
| Expected return on assets | (23) | | (24) | | (70) | (73) |
| Amortization of prior service credit / actuarial loss | 2 | | 1 | | 8 | 3 |
| Net periodic benefit cost | $(4) | | $(5) | | $(11) | $(16) |
Table 20 after “The terms of each ASR agreement entered into during the nine months ended September 30, 2026 and 2025, structured as outlined above, are as ”
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| (in millions, except average price paid per share) | | | | | | | | | |
| ASR Agreement Initiation Date | ASR Agreement Completion Date | Initial Shares Delivered | Additional Shares Delivered | Total Number of Shares Purchased | | Average Price Paid Per Share | | Total Cash Utilized | |
| July 29, 2026 1 | | 5.0 | — | | 5.0 | | $— | | $2,600 |
| May 7, 2026 2 | June 10, 2026 | 0.9 | 0.3 | | 1.2 | | $414.76 | | $500 |
| February 12, 2026 3 | March 12, 2026 | 2.0 | 0.3 | | 2.3 | | $426.70 | | $1,000 |
| August 12, 2025 4 | October 23, 2025 | 1.7 | 0.6 | | 2.3 | | $513.82 | | $1,200 |
| May 6, 2025 5 | August 8, 2025 | 1.0 | 0.2 | | 1.2 | | $518.47 | | $650 |
| February 19, 2025 6 | May 6, 2025 | 1.0 | 0.3 | | 1.3 | | $491.12 | | $650 |
Table 21 after “Changes to redeemable noncontrolling interests during the nine months ended September 30, 2026 were as follows:”
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| (in millions) | |
| Balance as of December 31, 2025 | $4,917 |
| Net income attributable to redeemable noncontrolling interests | 299 |
| Distributions payable to redeemable noncontrolling interests | (285) |
| Redemption value adjustment | 428 |
| Other 1 | (11) |
| Balance as of September 30, 2026 2 | $5,348 |
Table 22 after “The following table summarizes the changes in the components of accumulated other comprehensive loss for the nine months ended September 30:”
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| (in millions) | Foreign Currency Translation Adjustments | Pension and Postretirement Benefit Plans | | Unrealized Gain (Loss) on Cash Flow Hedges | | | Accumulated Other Comprehensive Loss | |
| Balance as of December 31, 2025 | $(403) | | $(386) | | | $92 | | $(697) |
| Other comprehensive income (loss) before reclassifications | (110) | 1 | (4) | | | (8) | | (122) |
| Reclassifications from accumulated other comprehensive income (loss) to net earnings | 3 | | 9 | | 2 | 5 | 3 | 17 |
| Net other comprehensive income | (107) | | 5 | | | (3) | | (105) |
| Balance as of September 30, 2026 | $(510) | | $(381) | | | $89 | | $(802) |
Table 23 after “The calculation of basic and diluted EPS for the periods ended September 30 is as follows:”
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| (in millions, except per share amounts) | Three Months | Nine Months | | | | |
| 2026 | 2025 | | 2026 | 2025 | |
| Amounts attributable to S&P Global Inc. common shareholders: | | | | | | |
| Income from continuing operations | $1,298 | | $1,078 | | $3,827 | $3,091 |
| (Loss) income from discontinued operations | (58) | | 98 | | 25 | 246 |
| Net income | $1,240 | | $1,176 | | $3,852 | $3,337 |
| Basic weighted-average number of common shares outstanding | 291.4 | | 304.3 | | 294.7 | 305.8 |
| Effect of dilutive securities | 0.2 | | 0.2 | | 0.2 | 0.3 |
First 8 of 19 rows. The CSV has all of them.
Table 24 after “The initial restructuring charge recorded and the ending reserve balance as of September 30, 2026 by segment is as follows:”
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| 2026 Restructuring Plan | 2025 Restructuring Plan | | | | |
| (in millions) | Initial Charge Recorded | Ending Reserve Balance | | Initial Charge Recorded | Ending Reserve Balance | |
| Ratings | $8 | | $5 | | $17 | $— |
| Indices | — | | — | | 4 | 2 |
| Energy | 8 | | 4 | | 19 | 5 |
| Market Intelligence | 15 | | 6 | | 56 | 6 |
| Corporate | 11 | | 5 | | 46 | 8 |
| Total | $42 | | $20 | | $142 | $21 |
Table 25 after “Operating results from continuing operations for the periods ended September 30 are as follows:”
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| (in millions) | Ratings | Indices | | Energy | Market Intelligence | | Total | | |
| Three Months Ended September 30, 2026 | | | | | | | | |
| Revenue from external customers | $1,223 | | $551 | | $645 | | | $1,259 | $3,678 |
| Intersegment revenue 1 | 48 | 3 | | — | | 4 | | 55 | |
| Revenue | 1,271 | | 554 | | 645 | | | 1,263 | 3,733 |
| Intersegment elimination | | | | | | | (55) | | |
| Total revenue | | | | | | | 3,678 | | |
| Less: segment expenses 2 | 436 | | 156 | | 335 | | | 806 | 1,733 |
First 8 of 16 rows. The CSV has all of them.
Table 26 after “Operating results from continuing operations for the periods ended September 30 are as follows:”
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| (in millions) | Ratings | Indices | | Energy | Market Intelligence | | Total | | |
| Nine Months Ended September 30, 2026 | | | | | | | | |
| Revenue from external customers | $3,773 | | $1,597 | | $1,992 | | | $3,712 | $11,074 |
| Intersegment revenue 1 | 139 | 9 | | — | | 11 | | 159 | |
| Revenue | 3,912 | | 1,606 | | 1,992 | | | 3,723 | 11,233 |
| Intersegment elimination | | | | | | | (159) | | |
| Total revenue | | | | | | | 11,074 | | |
| Less: segment expenses 2 | 1,282 | | 448 | | 1,038 | | | 2,419 | 5,187 |
First 8 of 16 rows. The CSV has all of them.
| (in millions) | Ratings | Indices | | Energy | | Market Intelligence | Total | | | |
| Three Months Ended September 30, 2025 | | | | | | | | | |
| Revenue from external customers | $1,196 | | $459 | | | $609 | | $1,179 | | $3,443 |
| Intersegment revenue 1 | 44 | | 3 | | — | | 4 | | 51 | |
| Revenue | 1,240 | | 462 | | | 609 | | 1,183 | | 3,494 |
| Intersegment elimination | | | | | | | (51) | | | |
| Total revenue | | | | | | | 3,443 | | | |
| Less: segment expenses 2 | 409 | | 138 | | | 328 | | 768 | | 1,643 |
First 8 of 17 rows. The CSV has all of them.
| (in millions) | Ratings | Indices | | Energy | | Market Intelligence | Total | | | |
| Nine Months Ended September 30, 2025 | | | | | | | | | |
| Revenue from external customers | $3,408 | | $1,344 | | | $1,896 | | $3,469 | | $10,117 |
| Intersegment revenue 1 | 129 | | 8 | | — | | 10 | | 147 | |
| Revenue | 3,537 | | 1,352 | | | 1,896 | | 3,479 | | 10,264 |
| Intersegment elimination | | | | | | | (147) | | | |
| Total revenue | | | | | | | 10,117 | | | |
| Less: segment expenses 2 | 1,197 | | 390 | | | 1,009 | | 2,307 | | 4,903 |
First 8 of 17 rows. The CSV has all of them.
Table 29 after “The following table presents our revenue disaggregated by revenue type for the periods ended September 30:”
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| (in millions) | Ratings | Indices | | Energy | Market Intelligence | Intersegment Elimination 1 | | Total | | |
| Three Months Ended September 30, 2026 | | | | | | | | | |
| Subscription | $— | | $87 | | $583 | | $1,049 | | $— | $1,719 |
| Non-subscription / Transaction | 677 | | — | | 31 | | 38 | | — | 746 |
| Non-transaction | 594 | | — | | — | | — | | (55) | 539 |
| Asset-linked fees | — | | 375 | | — | | — | | — | 375 |
| Sales usage-based royalties | — | | 92 | | 31 | | — | | — | 123 |
| Recurring variable revenue | — | | — | | — | | 176 | | — | 176 |
First 8 of 26 rows. The CSV has all of them.
| (in millions) | Ratings | Indices | | Energy | Market Intelligence | Intersegment Elimination 1 | | Total | | |
| Three Months Ended September 30, 2025 | | | | | | | | | |
| Subscription | $— | | $82 | | $556 | | $986 | | $— | $1,624 |
| Non-subscription / Transaction | 668 | | — | | 22 | | 39 | | — | 729 |
| Non-transaction | 572 | | — | | — | | — | | (51) | 521 |
| Asset-linked fees | — | | 303 | | — | | — | | — | 303 |
| Sales usage-based royalties | — | | 77 | | 31 | | — | | — | 108 |
| Recurring variable revenue | — | | — | | — | | 158 | | — | 158 |
First 8 of 26 rows. The CSV has all of them.
Table 31 after “Segment information as of September 30, 2026 and December 31, 2025 is as follows:”
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| (in millions) | Total Assets | | |
| September 30, | December 31, | |
| 2026 | 2025 | |
| Ratings | $1,389 | | $1,212 |
| Indices | 3,375 | | 3,369 |
| Energy | 8,580 | | 8,658 |
| Market Intelligence | 29,898 | | 30,782 |
| Total reportable segments | 43,242 | | 44,021 |
First 8 of 12 rows. The CSV has all of them.
Table 32 after “The following provides revenue by geographic region for the periods ended September 30:”
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| (in millions) | Three Months | Nine Months | | | | |
| 2026 | 2025 | | 2026 | 2025 | |
| U.S. | $2,176 | | $1,995 | | $6,567 | $5,891 |
| European region | 873 | | 861 | | 2,672 | 2,530 |
| Asia | 445 | | 417 | | 1,290 | 1,182 |
| Rest of the world | 184 | | 170 | | 545 | 514 |
| Total | $3,678 | | $3,443 | | $11,074 | $10,117 |
| (in millions) | | September 30, | December 31, | |
| Balance Sheet Location | | 2026 | 2025 | |
| Assets | | | | |
| Right of use assets | Lease right of use assets | $345 | | $397 |
| Liabilities | | | | |
| Other current liabilities | Current lease liabilities | 118 | | 117 |
| Lease liabilities — non-current | Non-current lease liabilities | 403 | | 483 |
Table 34 after “The components of lease expense for the periods ended September 30 are as follows:”
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| (in millions) | Three Months | Nine Months | | | | |
| 2026 | 2025 | | 2026 | 2025 | |
| Operating lease cost | $27 | | $28 | | $80 | $87 |
| Sublease income | (5) | | (3) | | (22) | (10) |
| Total lease cost | $22 | | $25 | | $58 | $77 |
Table 35 after “Supplemental information related to leases for the periods ended September 30 are as follows:”
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| (in millions) | Three Months | Nine Months | | | | |
| 2026 | 2025 | | 2026 | 2025 | |
| Cash paid for amounts included in the measurement for operating lease liabilities | | | | | | |
| Operating cash flows for operating leases | $36 | | $33 | | $106 | $99 |
| Right of use assets obtained in exchange for lease obligations | | | | | | |
| Operating leases | 9 | | 1 | | 25 | 22 |
Table 36 after “Weighted-average remaining lease term and discount rate for our operating leases are as follows:”
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| September 30, | December 31, | |
| 2026 | 2025 | |
| Weighted-average remaining lease term (years) | 4.5 | 5.3 | |
| Weighted-average discount rate | 4.33% | | 4.29% |
Table 37 after “Maturities of lease liabilities for our operating leases are as follows:”
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| (in millions) | |
| 2026 (Excluding the nine months ended September 30, 2026) | $34 |
| 2027 | 136 |
| 2028 | 113 |
| 2029 | 89 |
| 2030 | 65 |
| 2031 and beyond | 151 |
| Total undiscounted lease payments | $588 |
First 8 of 10 rows. The CSV has all of them.
Table 38 after “Key results for the periods ended September 30 are as follows:”
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| (in millions, except per share amounts) | Three Months | Nine Months | | | | | | | |
| 2026 | 2025 | | % Change 1 | 2026 | 2025 | % Change 1 | | |
| Revenue | $3,678 | | $3,443 | | 7% | $11,074 | | $10,117 | 9% |
| Operating profit 2 | $1,956 | | $1,556 | | 26% | $5,627 | | $4,476 | 26% |
| Operating margin % | 53% | | 45% | | | 51% | | 44% | |
| Diluted earnings per share from continuing operations | $4.45 | | $3.54 | | 26% | $12.98 | | $10.10 | 29% |
| (in millions) | Three Months | Nine Months | | | | | | | |
| 2026 | 2025 | | % Change | 2026 | 2025 | % Change | | |
| Revenue | $3,678 | | $3,443 | | 7% | $11,074 | | $10,117 | 9% |
| Total Expenses: | | | | | | | | | |
| Operating-related expenses | 1,034 | | 986 | | 5% | 3,159 | | 2,996 | 5% |
| Selling and general expenses | 660 | | 693 | | (5)% | 1,990 | | 2,032 | (2)% |
| Depreciation and amortization | 228 | | 215 | | 6% | 684 | | 644 | 6% |
| Total expenses | 1,922 | | 1,894 | | 2% | 5,833 | | 5,672 | 3% |
First 8 of 18 rows. The CSV has all of them.
Table 40 after “The following table provides consolidated revenue information for the periods ended September 30:”
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| (in millions) | Three Months | Nine Months | | | | | | | |
| 2026 | 2025 | | % Change | 2026 | 2025 | % Change | | |
| Revenue | $3,678 | | $3,443 | | 7% | $11,074 | | $10,117 | 9% |
| Subscription revenue | 1,719 | | 1,624 | | 6% | 5,042 | | 4,774 | 6% |
| Non-subscription / transaction revenue | 746 | | 729 | | 2% | 2,453 | | 2,166 | 13% |
| Non-transaction revenue | 539 | | 521 | | 3% | 1,618 | | 1,505 | 8% |
| Asset-linked fees | 375 | | 303 | | 24% | 1,062 | | 876 | 21% |
| Sales usage-based royalties | 123 | | 108 | | 14% | 381 | | 329 | 16% |
First 8 of 25 rows. The CSV has all of them.
| (in millions) | 2026 | 2025 | | % Change | | | | | | |
| Operating- related expenses | Selling and general expenses | | Operating- related expenses | Selling and general expenses | Operating- related expenses | | Selling and general expenses | | |
| Ratings 1 | 281 | | 146 | | 267 | | 147 | | 5% | (1)% |
| Indices 2 | 79 | | 76 | | 70 | | 67 | | 11% | 13% |
| Energy 3 | 192 | | 148 | | 188 | | 138 | | 3% | 7% |
| Market Intelligence 4 | 518 | | 276 | | 493 | | 281 | | 5% | (1)% |
| Intersegment eliminations 5 | (55) | | — | | (51) | | — | | (8)% | N/M |
| Total segments | 1,015 | | 646 | | 967 | | 633 | | 5% | 2% |
First 8 of 10 rows. The CSV has all of them.
| (in millions) | 2026 | 2025 | | % Change | | | | | | |
| Operating- related expenses | Selling and general expenses | | Operating- related expenses | Selling and general expenses | Operating- related expenses | | Selling and general expenses | | |
| Ratings 1 | $847 | | $418 | | $788 | | $439 | | 7% | (5)% |
| Indices 2 | 232 | | 216 | | 203 | | 186 | | 14% | 16% |
| Energy 3 | 628 | | 428 | | 610 | | 404 | | 3% | 6% |
| Market Intelligence 4 | 1,559 | | 856 | | 1,491 | | 851 | | 5% | 1% |
| Intersegment eliminations 5 | (158) | | — | | (147) | | — | | (8)% | N/M |
| Total segments | 3,108 | | 1,918 | | 2,945 | | 1,880 | | 6% | 2% |
First 8 of 10 rows. The CSV has all of them.
| (in millions) | 2026 | 2025 | | % Change | |
| Ratings 1 | $834 | | $818 | | 2% |
| Indices 2 | 388 | | 313 | | 24% |
| Energy 3 | 469 | | 249 | | 88% |
| Market Intelligence 4 | 301 | | 252 | | 19% |
| Total segment operating profit | 1,992 | | 1,632 | | 22% |
| Corporate Unallocated expense 5 | (36) | | (83) | | 56% |
| Equity in income on unconsolidated subsidiaries 6 | — | | 7 | | N/M |
First 8 of 9 rows. The CSV has all of them.
| (in millions) | 2026 | 2025 | | % Change | |
| Ratings 1 | $2,619 | | $2,286 | | 15% |
| Indices 2 | 1,125 | | 932 | | 21% |
| Energy 3 | 1,029 | | 779 | | 32% |
| Market Intelligence 4 | 979 | | 665 | | 47% |
| Total segment operating profit | 5,752 | | 4,662 | | 23% |
| Corporate Unallocated expense 5 | (125) | | (214) | | 42% |
| Equity in income on unconsolidated subsidiaries 6 | — | | 28 | | N/M |
First 8 of 9 rows. The CSV has all of them.
Table 45 after “The following table provides revenue and segment operating profit information for the periods ended September 30:”
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| (in millions) | Three Months | Nine Months | | | | | | | |
| 2026 | 2025 | | % Change | 2026 | 2025 | % Change | | |
| Revenue | $1,271 | | $1,240 | | 2% | $3,912 | | $3,537 | 11% |
| Transaction revenue | $677 | | $668 | | 1% | $2,135 | | $1,885 | 13% |
| Non-transaction revenue | $594 | | $572 | | 4% | $1,777 | | $1,652 | 8% |
| % of total revenue: | | | | | | | | | |
| Transaction revenue | 53% | | 54% | | | 55% | | 53% | |
| Non-transaction revenue | 47% | | 46% | | | 45% | | 47% | |
First 8 of 15 rows. The CSV has all of them.
Table 46 after “The following table provides billed issuance levels based on Ratings’ internal data feeds for the periods ended September 30:”
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| Three Months | Nine Months | | | | | | | |
| (in billions) | 2026 | 2025 | | % Change | 2026 | 2025 | % Change | | |
| Investment-grade billed issuance* | $503 | | $392 | | 28% | $1,663 | | $1,261 | 32% |
| High-yield billed issuance * | $154 | | $185 | | (17)% | $440 | | $446 | (1)% |
| Other billed issuance ** | $570 | | $563 | | 1% | $1,622 | | $1,533 | 6% |
| Total billed issuance | $1,227 | | $1,140 | | 8% | $3,725 | | $3,240 | 15% |
Table 47 after “The following table provides revenue and segment operating profit information for the periods ended September 30:”
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| (in millions) | Three Months | Nine Months | | | | | | | |
| 2026 | 2025 | | % Change | 2026 | 2025 | % Change | | |
| Revenue | $554 | | $462 | | 20% | $1,606 | | $1,352 | 19% |
| Asset-linked fees | $375 | | $303 | | 24% | $1,062 | | $876 | 21% |
| Subscription revenue | $87 | | $82 | | 7% | $258 | | $237 | 9% |
| Sales usage-based royalties | $92 | | $77 | | 19% | $286 | | $239 | 20% |
| % of total revenue: | | | | | | | | | |
| Asset-linked fees | 68% | | 65% | | | 66% | | 65% | |
First 8 of 20 rows. The CSV has all of them.
Table 48 after “The following table provides revenue and segment operating profit information for the periods ended September 30:”
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| (in millions) | Three Months | Nine Months | | | | | | | |
| 2026 | 2025 | | % Change | 2026 | 2025 | % Change | | |
| Revenue | $645 | | $609 | | 6% | $1,992 | | $1,896 | 5% |
| Subscription revenue | $583 | | $556 | | 5% | $1,708 | | $1,637 | 4% |
| Sales usage-based royalties | $31 | | $31 | | —% | $95 | | $90 | 6% |
| Non-subscription revenue | $31 | | $22 | | 37% | $189 | | $169 | 12% |
| % of total revenue: | | | | | | | | | |
| Subscription revenue | 90% | | 91% | | | 86% | | 86% | |
First 8 of 17 rows. The CSV has all of them.
Table 49 after “The following table provides revenue and segment operating profit information for the periods ended September 30:”
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| (in millions) | Three Months | Nine Months | | | | | | | |
| 2026 | 2025 | | % Change | 2026 | 2025 | % Change | | |
| Revenue | $1,263 | | $1,183 | | 7% | $3,723 | | $3,479 | 7% |
| Subscription revenue | $1,049 | | $986 | | 6% | $3,076 | | $2,900 | 6% |
| Recurring variable revenue | $176 | | $158 | | 11% | $518 | | $467 | 11% |
| Non-subscription revenue | $38 | | $39 | | (2)% | $129 | | $112 | 15% |
| % of total revenue: | | | | | | | | | |
| Subscription revenue | 83% | | 83% | | | 83% | | 83% | |
First 8 of 17 rows. The CSV has all of them.
Table 50 after “The following table provides cash flow information for the nine months ended September 30:”
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| (in millions) | 2026 | 2025 | | % Change | |
| Net cash provided by (used for): | | | | | |
| Operating activities from continuing operations | $3,661 | | $3,317 | | 10% |
| Investing activities from continuing operations | $340 | | $(213) | | N/M |
| Financing activities from continuing operations | $(3,617) | | $(3,725) | | (3)% |
Table 51 after “Summarized results of operations for the periods ended September 30, 2026 are as follows:”
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| (in millions) | Three Months | Nine Months | |
| Revenue | $1,259 | | $3,788 |
| Operating Profit | 940 | | 3,013 |
| Net Income | 114 | | 1,165 |
| Net income attributable to S&P Global Inc. | 114 | | 1,165 |
Table 52 after “Summarized balance sheet information as of September 30, 2026 and December 31, 2025 is as follows:”
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| (in millions) | September 30, | December 31, | |
| 2026 | 2025 | |
| Current assets (excluding intercompany from Non-Obligor Group) | $1,318 | | $757 |
| Non-current assets | 1,072 | | 898 |
| Current liabilities (excluding intercompany to Non-Obligor Group) | 2,809 | | 1,192 |
| Non-current liabilities | 10,572 | | 12,435 |
| Intercompany payables to Non-Obligor Group | 20,972 | | 18,077 |
Table 53 after “The presentation of free cash flow is not intended to be considered in isolation or as a substitute for the financial information prepared a”
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| (in millions) | 2026 | 2025 | | % Change | |
| Cash provided by operating activities from continuing operations | $3,661 | | $3,317 | | 10% |
| Capital expenditures | (93) | | (133) | | |
| Distributions to noncontrolling interest holders | (269) | | (234) | | |
| Free cash flow | $3,299 | | $2,950 | | 12% |
Table 54 after “The presentation of free cash flow is not intended to be considered in isolation or as a substitute for the financial information prepared a”
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| (in millions) | 2026 | 2025 | | % Change | |
| Cash provided by (used for) investing activities from continuing operations | 340 | | (213) | | N/M |
| Cash used for financing activities from continuing operations | (3,617) | | (3,725) | | (3)% |
Table 55 after “There were no other share repurchases during the quarter outside the repurchases noted below.”
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| Period | (a) Total Number of Shares Purchased | (b) Average Price Paid per Share | | (c) Total Number of Shares Purchased as Part of Publicly Announced Programs | (d) Maximum Number of Shares that may yet be Purchased Under the Programs | | |
| July 1 — July 31, 2026 1 | 4,957,246 | | $414.97 | | 4,956,630 | 23.4 | million |
| August 1 — August 31, 2026 | 2,075 | | 416.25 | | — | 23.4 | million |
| September 1 — September 30, 2026 | 185 | | 440.21 | | — | 23.4 | million |
| Total — Quarter 1 | 4,959,506 | | $417.52 | | 4,956,630 | 23.4 | million |
| (3.1) | Amended and Restated Certificate of Incorporation of Registrant, as amended and restated on May 13, 2020, incorporated by reference from the Registrant's Form 8-K filed May 18, 2020 |
| (3.2) | Amended and Restated By-Laws of Registrant, as amended and restated on September 27, 2023, incorporated by reference from the Registrant's Form 8-K filed October 2, 2023 |
| (10.1)* | Executive Separation and Release Agreement, dated September 18, 2026, between the Registrant and Steven Kemps |
| (15) | Letter on Unaudited Interim Financials |
| (31.1) | Certification of Chief Executive Officer pursuant to Rule 13a-14(a) and Rule 15d-14(a) of the Securities Exchange Act of 1934, as amended |
| (31.2) | Certification of Chief Financial Officer pursuant to Rule 13a-14(a) and Rule 15d-14(a) of the Securities Exchange Act of 1934, as amended |
| (32) | Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
| (101.INS) | Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. |
First 8 of 14 rows. The CSV has all of them.