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: 2020 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 9, 2021) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Revenue | $ 7,442 | 6,699 | 6,258 |
| Expenses: | |||
| Operating-related expenses | 2,092 | 1,976 | 1,838 |
| Selling and general expenses | 1,543 | 1,342 | 1,424 |
| Depreciation | 83 | 82 | 84 |
| Amortization of intangibles | 123 | 122 | 122 |
| Total expenses | 3,841 | 3,522 | 3,468 |
| Gain on dispositions | (16) | (49) | 0 |
| Operating profit | 3,617 | 3,226 | 2,790 |
| Other (income) expense, net | (31) | 98 | (25) |
| Interest expense, net | 141 | 141 | 134 |
| Loss on extinguishment of debt | 279 | 57 | 0 |
| Income before taxes on income | 3,228 | 2,930 | 2,681 |
| Provision for taxes on income | 694 | 627 | 560 |
| Net income | 2,534 | 2,303 | 2,121 |
| Less: net income attributable to noncontrolling interests | (195) | (180) | (163) |
| Net income attributable to S&P Global Inc. | 2,339 | 2,123 | 1,958 |
| Earnings per share attributable to S&P Global Inc. common shareholders: | |||
| Net income: | |||
| Basic (USD per share) | 9.71 | 8.65 | 7.80 |
| Diluted (USD per share) | 9.66 | 8.60 | 7.73 |
| Weighted-average number of common shares outstanding: | |||
| Basic (shares) | 241,000 | 245,400 | 250,900 |
| Diluted (shares) | 242,100 | 246,900 | 253,200 |
| Actual shares outstanding at year end (shares) | 240,600 | 244,000 | 248,400 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
S&P GLOBAL INC. | |||
Ticker: SPGI Fiscal Year: 2020 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 9, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Net income | $ 2,534 | 2,303 | 2,121 |
| Other comprehensive income: | |||
| Foreign currency translation adjustments | (24) | 10 | (96) |
| Income tax effect | 22 | 8 | (4) |
| Foreign currency translation adjustment, net of income tax effect | (2) | 18 | (100) |
| Pension and other postretirement benefit plans | (31) | 141 | (14) |
| Income tax effect | 8 | (39) | 9 |
| Pension and other postretirement benefit plans, net of income tax effect | (23) | 102 | (5) |
| Unrealized gain (loss) on forward exchange contracts | 17 | (2) | 2 |
| Income tax effect | (5) | 0 | 0 |
| Unrealized loss on investment and forward exchange contracts, net of income tax effect | 12 | (2) | 2 |
| Comprehensive income | 2,521 | 2,421 | 2,018 |
| Less: comprehensive income attributable to nonredeemable noncontrolling interests | (14) | (10) | (12) |
| Less: comprehensive income attributable to redeemable noncontrolling interests | (181) | (170) | (151) |
| Comprehensive income attributable to S&P Global Inc. | 2,326 | 2,241 | 1,855 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
S&P GLOBAL INC. | |||
Ticker: SPGI Fiscal Year: 2020 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 9, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Operating Activities: | |||
| Net income | $ 2,534 | 2,303 | 2,121 |
| Adjustments to reconcile net income to cash provided by operating activities: | |||
| Depreciation | 83 | 82 | 84 |
| Amortization of intangibles | 123 | 122 | 122 |
| Provision for losses on accounts receivable | 17 | 18 | 21 |
| Deferred income taxes | (31) | 46 | 81 |
| Stock-based compensation | 90 | 78 | 94 |
| Gain on dispositions | (16) | (49) | 0 |
| Accrued legal settlements | 9 | 0 | 1 |
| Pension settlement charge, net of taxes | 2 | 85 | 0 |
| Loss on extinguishment of debt | 279 | 57 | 0 |
| Lease impairment charges | 120 | 11 | 11 |
| Other | 110 | 25 | 41 |
| Changes in operating assets and liabilities, net of effect of acquisitions and dispositions: | |||
| Accounts receivable | 18 | (135) | (164) |
| Prepaid and other current assets | (85) | (81) | (1) |
| Accounts payable and accrued expenses | 132 | 73 | (106) |
| Unearned revenue | 220 | 256 | 70 |
| Accrued legal settlements | 0 | (1) | (108) |
| Other current liabilities | (15) | (56) | (67) |
| Net change in prepaid/accrued income taxes | (2) | (41) | (7) |
| Net change in other assets and liabilities | (21) | (17) | (129) |
| Cash provided by operating activities | 3,567 | 2,776 | 2,064 |
| Investing Activities: | |||
| Capital expenditures | (76) | (115) | (113) |
| Acquisitions, net of cash acquired | (201) | (91) | (401) |
| Proceeds from dispositions | 18 | 85 | 6 |
| Changes in short-term investments | 19 | (10) | (5) |
| Cash used for investing activities | (240) | (131) | (513) |
| Financing Activities: | |||
| Proceeds from issuance of senior notes, net | 1,276 | 1,086 | 489 |
| Payments on senior notes | (1,394) | (868) | (403) |
| Dividends paid to shareholders | (645) | (560) | (503) |
| Distributions to noncontrolling interest holders, net | (194) | (143) | (154) |
| Repurchase of treasury shares | (1,164) | (1,240) | (1,660) |
| Exercise of stock options | 16 | 40 | 34 |
| Purchase of additional CRISIL shares | 0 | 0 | (25) |
| Employee withholding tax on share-based payments and other | (61) | (66) | (66) |
| Cash used for financing activities | (2,166) | (1,751) | (2,288) |
| Effect of exchange rate changes on cash | 75 | 34 | (84) |
| Net change in cash, cash equivalents, and restricted cash | 1,236 | 928 | (821) |
| Cash, cash equivalents, and restricted cash at beginning of year | 2,886 | 1,958 | |
| Cash, cash equivalents, and restricted cash at end of year | 4,122 | 2,886 | 1,958 |
| Cash paid during the year for: | |||
| Interest | 159 | 162 | 151 |
| Income taxes | 683 | 659 | 558 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
S&P GLOBAL INC. | ||
Ticker: SPGI Fiscal Year: 2020 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2020 10-K (Filed: Feb 9, 2021) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2020 | Dec 31, 2019 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 4,108 | 2,866 |
| Restricted cash | 14 | 20 |
| Short-term investments | 9 | 28 |
| Accounts receivable, net of allowance for doubtful accounts: 2020- $30 ; 2019 - $34 | 1,593 | 1,577 |
| Prepaid and other current assets | 264 | 221 |
| Total current assets | 5,988 | 4,712 |
| Property and equipment: | ||
| Buildings and leasehold improvements | 364 | 420 |
| Equipment and furniture | 507 | 522 |
| Total property and equipment | 871 | 942 |
| Less: accumulated depreciation | (587) | (622) |
| Property and equipment, net | 284 | 320 |
| Right of use assets | 494 | 676 |
| Goodwill | 3,735 | 3,575 |
| Other intangible assets, net | 1,352 | 1,424 |
| Other non-current assets | 684 | 641 |
| Total assets | 12,537 | 11,348 |
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 233 | 190 |
| Accrued compensation and contributions to retirement plans | 551 | 446 |
| Income taxes currently payable | 84 | 68 |
| Unearned revenue | 2,168 | 1,928 |
| Other current liabilities | 551 | 461 |
| Total current liabilities | 3,587 | 3,093 |
| Long-term debt | 4,110 | 3,948 |
| Lease liabilities non-current | 544 | 620 |
| Pension and other postretirement benefits | 291 | 259 |
| Other non-current liabilities | 653 | 624 |
| Total liabilities | 9,185 | 8,544 |
| Redeemable noncontrolling interest | 2,781 | 2,268 |
| Commitments and contingencies (Note 13) | ||
| Equity: | ||
| Common stock, $1 par value: authorized - 600 million shares; issued: 2020 - 294 million shares; 2019 - 294 million shares | 294 | 294 |
| Additional paid-in capital | 946 | 903 |
| Retained income | 13,367 | 12,205 |
| Accumulated other comprehensive loss | (637) | (624) |
| Less: common stock in treasury - at cost: 2020 - 53 million shares; 2019 - 50 shares | (13,461) | (12,299) |
| Total equity controlling interests | 509 | 479 |
| Total equity noncontrolling interests | 62 | 57 |
| Total equity | 571 | 536 |
| Total liabilities and equity | 12,537 | 11,348 |
| External Links | |
| S&P GLOBAL INC. (SPGI) Fiscal Year 2020 | |
| 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 |