10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
S&P GLOBAL INC. | |||
Ticker: SPGI Fiscal Year: 2019 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 10, 2020) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Revenue | $ 6,699 | 6,258 | 6,063 |
| Expenses: | |||
| Operating-related expenses | 1,801 | 1,698 | 1,694 |
| Selling and general expenses | 1,517 | 1,564 | 1,606 |
| Depreciation | 82 | 84 | 82 |
| Amortization of intangibles | 122 | 122 | 98 |
| Total expenses | 3,522 | 3,468 | 3,480 |
| Gain on dispositions | (49) | 0 | 0 |
| Operating profit | 3,226 | 2,790 | 2,583 |
| Other expense (income), net | 98 | (25) | (27) |
| Interest expense, net | 198 | 134 | 149 |
| Income before taxes on income | 2,930 | 2,681 | 2,461 |
| Provision for taxes on income | 627 | 560 | 823 |
| Net income | 2,303 | 2,121 | 1,638 |
| Less: net income attributable to noncontrolling interests | (180) | (163) | (142) |
| Net income attributable to S&P Global Inc. | 2,123 | 1,958 | 1,496 |
| Earnings per share attributable to S&P Global Inc. common shareholders: | |||
| Net income: | |||
| Basic (USD per share) | 8.65 | 7.80 | 5.84 |
| Diluted (USD per share) | 8.60 | 7.73 | 5.78 |
| Weighted-average number of common shares outstanding: | |||
| Basic (shares) | 245,400 | 250,900 | 256,300 |
| Diluted (shares) | 246,900 | 253,200 | 258,900 |
| Actual shares outstanding at year end (shares) | 244,000 | 248,400 | 253,700 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
S&P GLOBAL INC. | |||
Ticker: SPGI Fiscal Year: 2019 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 10, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Net income | $ 2,303 | 2,121 | 1,638 |
| Other comprehensive income: | |||
| Foreign currency translation adjustments | 10 | (96) | 93 |
| Income tax effect | 8 | (4) | 0 |
| Foreign currency translation adjustment, net of income tax effect | 18 | (100) | 93 |
| Pension and other postretirement benefit plans | 141 | (14) | 52 |
| Income tax effect | (39) | 9 | (11) |
| Pension and other postretirement benefit plans, net of income tax effect | 102 | (5) | 41 |
| Unrealized (loss) gain on investment and forward exchange contracts | (2) | 2 | (10) |
| Income tax effect | 0 | 0 | 0 |
| Unrealized loss on investment and forward exchange contracts, net of income tax effect | (2) | 2 | (10) |
| Comprehensive income | 2,421 | 2,018 | 1,762 |
| Less: comprehensive income attributable to nonredeemable noncontrolling interests | (10) | (12) | (13) |
| Less: comprehensive income attributable to redeemable noncontrolling interests | (170) | (151) | (129) |
| Comprehensive income attributable to S&P Global Inc. | 2,241 | 1,855 | 1,620 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
S&P GLOBAL INC. | |||
Ticker: SPGI Fiscal Year: 2019 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 10, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Operating Activities: | |||
| Net income | $ 2,303 | 2,121 | 1,638 |
| Adjustments to reconcile net income to cash provided by operating activities: | |||
| Depreciation | 82 | 84 | 82 |
| Amortization of intangibles | 122 | 122 | 98 |
| Provision for losses on accounts receivable | 18 | 21 | 16 |
| Deferred income taxes | 46 | 81 | 0 |
| Stock-based compensation | 78 | 94 | 99 |
| Gain on dispositions | (49) | 0 | 0 |
| Accrued legal settlements | 0 | 1 | 55 |
| Pension settlement charge, net of taxes | 85 | 0 | 0 |
| Other | 93 | 52 | 96 |
| Changes in operating assets and liabilities, net of effect of acquisitions and dispositions: | |||
| Accounts receivable | (135) | (164) | (196) |
| Prepaid and other current assets | (81) | (1) | 10 |
| Accounts payable and accrued expenses | 73 | (106) | 75 |
| Unearned revenue | 256 | 70 | 85 |
| Accrued legal settlements | (1) | (108) | (4) |
| Other current liabilities | (56) | (67) | (85) |
| Net change in prepaid/accrued income taxes | (41) | (7) | 32 |
| Net change in other assets and liabilities | (17) | (129) | 15 |
| Cash provided by operating activities | 2,776 | 2,064 | 2,016 |
| Investing Activities: | |||
| Capital expenditures | (115) | (113) | (123) |
| Acquisitions, net of cash acquired | (91) | (401) | (83) |
| Proceeds from dispositions | 85 | 6 | 2 |
| Changes in short-term investments | (10) | (5) | (5) |
| Cash used for investing activities | (131) | (513) | (209) |
| Financing Activities: | |||
| Proceeds from issuance of senior notes, net | 1,086 | 489 | 0 |
| Payments on senior notes | (868) | (403) | 0 |
| Dividends paid to shareholders | (560) | (503) | (421) |
| Distributions to noncontrolling interest holders, net | (143) | (154) | (111) |
| Repurchase of treasury shares | (1,240) | (1,660) | (1,001) |
| Exercise of stock options | 40 | 34 | 75 |
| Purchase of additional CRISIL shares | 0 | (25) | 0 |
| Employee withholding tax on share-based payments and other | (66) | (66) | (49) |
| Cash used for financing activities | (1,751) | (2,288) | (1,507) |
| Effect of exchange rate changes on cash | 34 | (84) | 87 |
| Net change in cash, cash equivalents, and restricted cash | 928 | (821) | 387 |
| Cash, cash equivalents, and restricted cash at beginning of year | 1,958 | 2,779 | |
| Cash, cash equivalents, and restricted cash at end of year | 2,886 | 1,958 | 2,779 |
| Cash paid during the year for: | |||
| Interest | 162 | 151 | 139 |
| Income taxes | 659 | 558 | 709 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
S&P GLOBAL INC. | ||
Ticker: SPGI Fiscal Year: 2019 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2019 10-K (Filed: Feb 10, 2020) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2019 | Dec 31, 2018 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 2,866 | 1,917 |
| Restricted cash | 20 | 41 |
| Short-term investments | 28 | 18 |
| Accounts receivable, net of allowance for doubtful accounts: 2019- $34; 2018 - $34 | 1,577 | 1,449 |
| Prepaid and other current assets | 221 | 162 |
| Total current assets | 4,712 | 3,587 |
| Property and equipment: | ||
| Buildings and leasehold improvements | 420 | 372 |
| Equipment and furniture | 522 | 494 |
| Total property and equipment | 942 | 866 |
| Less: accumulated depreciation | (622) | (596) |
| Property and equipment, net | 320 | 270 |
| Right of use assets | 676 | 0 |
| Goodwill | 3,575 | 3,535 |
| Other intangible assets, net | 1,424 | 1,524 |
| Other non-current assets | 641 | 525 |
| Total assets | 11,348 | 9,441 |
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 190 | 211 |
| Accrued compensation and contributions to retirement plans | 446 | 354 |
| Income taxes currently payable | 68 | 73 |
| Unearned revenue | 1,928 | 1,641 |
| Other current liabilities | 461 | 351 |
| Total current liabilities | 3,093 | 2,630 |
| Long-term debt | 3,948 | 3,662 |
| Lease liabilities non-current | 620 | 0 |
| Pension and other postretirement benefits | 259 | 229 |
| Other non-current liabilities | 624 | 616 |
| Total liabilities | 8,544 | 7,137 |
| Redeemable noncontrolling interest | 2,268 | 1,620 |
| Commitments and contingencies (Note 13) | ||
| Equity: | ||
| Common stock, $1 par value: authorized - 600 million shares; issued: 2019 - 294 million shares; 2018 - 294 million shares | 294 | 294 |
| Additional paid-in capital | 903 | 833 |
| Retained income | 12,205 | 11,284 |
| Accumulated other comprehensive loss | (624) | (742) |
| Less: common stock in treasury - at cost: 2019 - 50 million shares; 2018 - 45 million shares | (12,299) | (11,041) |
| Total equity controlling interests | 479 | 628 |
| Total equity noncontrolling interests | 57 | 56 |
| Total equity | 536 | 684 |
| Total liabilities and equity | 11,348 | 9,441 |
| External Links | |
| S&P GLOBAL INC. (SPGI) Fiscal Year 2019 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |