S&P GLOBAL, INC.

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S&P Global : and IHS Markit Proforma Combined Company Operating Results by Segment - Form 8-K

02/28/2022 | 04:59pm EDT
S&P Global and IHS Markit Proforma Combined Company
Operating Results by Segment
Periods Ended December 31, 2021
(dollars in millions, except per share data)
(unaudited)
Q1 Q2 Q3 Q4 Full Year
Reported Adjusted Reported Adjusted Reported Adjusted Reported Adjusted Reported Adjusted
Market Intelligence
Revenue
Previously Reported Market Intelligence Revenue $539 $539 $555 $555 $570 $570 $583 $583 $2,247 $2,247
Adjustments
IHS Markit Financial Services Revenue (a)
454 454 445 445 448 448 471 471 1,818 1,818
Transfers from Mobility and Engineering Solutions (b)
55 55 55 55 57 57 57 57 224 224
Transfers to Indices and Commodity Solutions (c)
(40) (40) (39) (39) (39) (39) (41) (41) (159) (159)
Divestitures (d)
(58) (58) (59) (59) (62) (62) (61) (61) (240) (240)
Proforma Revenue $950 $950 $957 $957 $974 $974 $1,009 $1,009 $3,890 $3,890
Operating Profit
Previously Reported Market Intelligence Operating Profit (e)
$166 $181 $180 $196 $187 $203 $170 $191 $703 $771
Adjustments
IHS Markit Financial Services Operating Profit (a)
85 160 105 168 588 164 58 157 836 649
Transfers from Mobility and Engineering Solutions (b)
25 27 29 31 29 32 29 31 112 121
Transfers to Indices and Commodity Insights (c)
(19) (20) (19) (20) (21) (22) (23) (24) (82) (86)
Reallocations (f)
(4) (4) (4) (4) (21) (21) (26) (26) (55) (55)
Divestitures (d)
(42) (42) (43) (43) (45) (45) (45) (46) (175) (176)
Proforma Operating Profit $211 $302 $248 $328 $717 $311 $163 $283 $1,339 $1,224
Ratings
Revenue
Previously Reported Ratings Revenue $1,017 $1,017 $1,073 $1,073 $1,017 $1,017 $990 $990 $4,097 $4,097
Operating Profit
Previously Reported Ratings Operating Profit (g)
$681 $686 $729 $731 $644 $646 $575 $569 $2,629 $2,632
Adjustments
Reallocations (f)
(1) (1) (2) (2) (2) (2) (4) (4) (9) (9)
Proforma Operating Profit $680 $685 $727 $729 $642 $644 $571 $565 $2,620 $2,623
Commodity Insights
Revenue
Previously Reported Platts Revenue $225 $225 $236 $236 $239 $239 $250 $250 $950 $950
Adjustments
IHS Markit Resources Revenue (a)
217 217 208 208 207 207 216 216 848 848
Transfers from Market Intelligence (h)
16 16 17 17 17 17 17 17 67 67
Divestitures (i)
(48) (48) (48) (48) (50) (50) (50) (50) (196) (196)
Proforma Revenue $410 $410 $413 $413 $413 $413 $433 $433 $1,669 $1,669

Q1 Q2 Q3 Q4 Full Year
Reported Adjusted Reported Adjusted Reported Adjusted Reported Adjusted Reported Adjusted
Operating Profit
Previously Reported Platts Operating Profit (j)
$129 $131 $135 $136 $128 $130 $125 $126 $517 $523
Adjustments
IHS Markit Resources Operating Profit (a)
59 72 58 70 56 69 61 67 234 278
Transfers from Market Intelligence (h)
5 5 6 6 8 8 8 8 27 27
Reallocations (f)
7 7 5 5 4 4 1 1 17 17
Divestitures (i)
(21) (24) (21) (27) (21) (27) (18) (24) (81) (102)
Proforma Operating Profit $179 $191 $183 $190 $175 $184 $177 $178 $714 $743
Mobility
Revenue
Previously Reported Transportation Revenue (a)
$325 $325 $344 $344 $349 $349 $347 $347 $1,365 $1,365
Adjustments
Transfers to Market Intelligence and Engineering Solutions (k)
(29) (29) (29) (29) (30) (30) (31) (31) (119) (119)
Proforma Revenue $ 296 $ 296 $ 315 $ 315 $ 319 $ 319 $ 316 $ 316 $ 1,246 $ 1,246
Operating Profit
Previously Reported Transportation Operating Profit (a)
$121 $146 $136 $160 $133 $156 $125 $144 $515 $606
Adjustments
Transfers to Market Intelligence and Engineering Solutions (k)
(12) (14) (18) (20) (17) (19) (18) (20) (65) (73)
Reallocations (f)
(14) (14) (9) (9) (8) (8) (7) (7) (38) (38)
Proforma Operating Profit $95 $118 $109 $131 $108 $129 $100 $117 $412 $495
Indices
Revenue
Previously Reported Indices Revenue $270 $270 $278 $278 $298 $298 $303 $303 $1,149 $1,149
Adjustments
Transfers from Market Intelligence (l)
28 28 27 27 26 26 29 29 110 110
Divestitures (m)
(1) (1) (2) (2) (1) (1) (2) (2) (6) (6)
Proforma Revenue $297 $297 $303 $303 $323 $323 $330 $330 $1,253 $1,253
Operating Profit
Previously Reported Indices Operating Profit (n)
$191 $192 $196 $198 $213 $214 $199 $199 $799 $803
Adjustments
Transfers from Market Intelligence (l)
14 15 13 14 13 14 15 16 55 59
Reallocations (f)
(3) (3) (3) (3) (3) (3) (4) (4) (13) (13)
Divestitures (m)
(1) (1) - - (1) (1) (1) (1) (3) (3)
Proforma Operating Profit $201 $203 $206 $209 $222 $224 $209 $210 $838 $846
Engineering Solutions
Revenue
Previously Reported CMS Revenue (a)
$122 $122 $125 $125 $136 $136 $134 $134 $517 $517
Adjustments
Transfers from Mobility (o)
2 2 3 3 3 3 3 3 11 11
Transfers to Market Intelligence (p)
(28) (28) (29) (29) (30) (30) (29) (29) (116) (116)
Divestitures (q)
(5) (5) (6) (6) (5) (5) (5) (5) (21) (21)
Proforma Revenue $91 $91 $93 $93 $104 $104 $103 $103 $391 $391
Operating Profit
Previously Reported CMS Operating Profit (a)
$21 $23 $27 $29 $31 $32 $59 $28 $138 $112
Adjustments
Transfers from Mobility (o)
2 2 3 3 2 2 2 2 9 9
Transfers to Market Intelligence (p)
(15) (15) (14) (14) (14) (15) (13) (13) (56) (57)
Reallocations (f)
5 5 4 4 4 4 4 4 17 17

Q1 Q2 Q3 Q4 Full Year
Reported Adjusted Reported Adjusted Reported Adjusted Reported Adjusted Reported Adjusted
Divestitures (q)
(1) (2) (1) (2) (1) (2) (1) (2) (4) (8)
Proforma Operating Profit $12 $13 $19 $20 $22 $21 $51 $19 $104 $73
Intersegment Elimination
Previously Reported Intersegment Elimination $(35) $(35) $(36) $(36) $(37) $(37) $(38) $(38) $(146) $(146)
Adjustments
Transfers from Market Intelligence to Indices (r)
(4) (4) (5) (5) (4) (4) (5) (5) $(18) $(18)
Proforma Intersegment Elimination $(39) $(39) $(41) $(41) $(41) $(41) $(43) $(43) $(164) $(164)
Equity in net (earnings) loss of unconsolidated subsidiaries, net of taxes
IHS Markit equity in (profit) loss on equity-method investees, net of tax $(15) $(20) $(13) $(13) $(13) $(24) $2 $(22) $(39) $(79)
Corporate Unallocated Expense
Previously Reported Corporate Unallocated Expense (s)
$(86) $(28) $(86) $(33) $(89) $(38) $(165) $(49) $(426) $(148)
Adjustments
IHS Markit Shared Services (a)
(42) (25) (35) (16) (42) (24) (75) (45) (194) (110)
Reallocations (f)
14 14 13 13 26 26 36 36 $89 $89
Proforma Corporate Unallocated Expense $(114) $(39) $(108) $(36) $(105) $(36) $(204) $(58) $(531) $(169)
S&P Global
Previously Reported S&P Global Revenue $2,016 $2,016 $2,106 $2,106 $2,087 $2,087 $2,088 $2,088 $8,297 $8,297
Adjustments
IHS Markit Revenue (a)
1,118 1,118 1,122 1,122 1,140 1,140 1,168 1,168 4,548 4,548
Divestitures (d) (i) (m) (q)
(112) (112) (115) (115) (118) (118) (118) (118) (463) (463)
Proforma S&P Global Revenue $3,022 $3,022 $3,113 $3,113 $3,109 $3,109 $3,138 $3,138 $12,382 $12,382
Operating Profit
Previously Reported S&P Global Operating Profit $1,081 $1,162 $1,154 $1,228 $1,083 $1,155 $904 $1,036 $4,222 $4,581
Adjustments
IHS Markit Operating Profit (a)
244 376 291 411 766 397 228 351 1,529 1,535
IHS Markit equity in (profit) loss on equity-method investees, net of tax (15) (20) (13) (13) (13) (24) 2 (22) (39) (79)
Reallocations (f)
4 4 4 4 - - - - 8 8
Divestitures (d) (i) (m) (q)
(65) (69) (65) (72) (68) (75) (65) (73) (263) (289)
Proforma S&P Global Operating Profit $1,279 $1,493 $1,397 $1,584 $1,794 $1,501 $1,065 $1,336 $5,535 $5,914
Net Income
Proforma S&P Global Operating Profit $1,279 $1,493 $1,397 $1,584 $1,794 $1,501 $1,065 $1,336 $5,535 $5,914
Other income, net (t)
(7) (7) (22) (22) (22) (22) (11) (11) (62) (62)
Interest expense, net (u)
32 32 32 32 31 31 24 24 119 119
IHS Markit interest expense, net 55 55 55 55 55 55 54 54 219 219
Proforma income before taxes on income 1,199 1,413 1,332 1,519 1,730 1,437 998 1,269 5,259 5,638
Provision for taxes on income (v)
237 253 276 274 202 217 142 186 857 930
IHS Markit provision for taxes on income 20 72 58 96 90 73 30 84 198 325
IHS Markit tax on divestitures (5) (7) (5) (7) (6) (8) (5) (7) (21) (29)
Divestitures - equity method investment (1) (1) 1 1 - - - - - -
Proforma Net Income 948 1,095 1,002 1,156 1,444 1,155 831 1,006 4,225 4,412
Less: net income attributable to noncontrolling interests (54) (54) (59) (59) (64) (64) (62) (62) (239) (239)

Q1 Q2 Q3 Q4 Full Year
Reported Adjusted Reported Adjusted Reported Adjusted Reported Adjusted Reported Adjusted
Less: IHS Markit net income attributable to noncontrolling interests 1 1 - - - - - - 1 1
Proforma Net Income attributable to S&P Global Inc. $895 $1,042 $943 $1,097 $1,380 $1,091 $769 $944 $3,987 $4,174
Proforma Diluted Weighted Average Shares Outstanding and Adjusted Diluted Earnings Per Share
Previously Reported S&P Global Diluted Weighted Average Shares Outstanding 241.6 241.6 241.8 241.8 241.7 241.7 242.1 242.1 241.8 241.8
IHS Markit Diluted Weighted Average Shares Outstanding (w)
400.7 400.7 400.9 400.9 401.5 401.5 402.7 402.7 401.5 401.5
Adjustments
Conversion Ratio (x)
0.2838 0.2838 0.2838 0.2838 0.2838 0.2838 0.2838 0.2838 0.2838 0.2838
Proforma Diluted Weighted Average Shares Outstanding 355.3 355.3 355.6 355.6 355.6 355.6 356.4 356.4 355.7 355.7
Proforma Adjusted Diluted Earnings Per Share $ 2.52 $ 2.93 $ 2.65 $ 3.09 $ 3.88 $ 3.07 $ 2.16 $ 2.65 $ 11.21 $ 11.73

Note - Totals may not sum due to rounding

S&P Global
S&P Global and IHS Markit Proforma Combined Company
Operating Results by Segment
Periods Ended December 31, 2020
(dollars in millions, except per share data)
(unaudited)
Q1 Q2 Q3 Q4 Full Year
Reported Adjusted Reported Adjusted Reported Adjusted Reported Adjusted Reported Adjusted
Market Intelligence
Revenue
Previously Reported Market Intelligence Revenue $ 519 $ 519 $ 516 $ 516 $ 530 $ 530 $ 541 $ 541 $ 2,106 $ 2,106
Adjustments
IHS Markit Financial Services Revenue (a)
403 403 408 408 406 406 423 423 1,640 1,640
Transfers from Mobility and Engineering Solutions (b)
51 51 49 49 51 51 55 55 206 206
Transfers to Indices and Commodity Solutions (c)
(39) (39) (41) (41) (38) (38) (40) (40) (158) (158)
Divestitures (d)
(56) (56) (55) (55) (57) (57) (58) (58) (226) (226)
Proforma Revenue $878 $878 $877 $877 $892 $892 $921 $921 $3,568 $3,568
Operating Profit
Previously Reported Market Intelligence Operating Profit (e)
$ 147 $ 160 $ 159 $ 177 $ 164 $ 179 $ 119 $ 167 $589 $683
Adjustments
IHS Markit Financial Services Operating Profit (b)
66 123 94 163 89 148 88 150 337 584
Transfers from Mobility and Engineering Solutions (c)
30 33 25 32 32 34 29 34 116 133
Transfers to Indices and Commodity Insights (d)
(18) (19) (20) (22) (18) (19) (23) (24) (79) (84)
Reallocations (f)
(51) (51) (31) (31) (13) (13) (15) (15) (110) (110)
Divestitures (d)
(40) (40) (40) (40) (42) (42) (43) (43) (165) (165)
Proforma Operating Profit $134 $206 $187 $279 $212 $287 $155 $269 $688 $1,041
Ratings
Revenue
Previously Reported Ratings Revenue $825 $825 $1,006 $1,006 $894 $894 $881 $881 $3,606 $3,606
Operating Profit
Previously Reported Ratings Operating Profit (g)
$ 520 $ 521 $ 693 $ 695 $ 544 $ 552 $ 466 $ 481 $2,223 $2,249
Adjustments
Reallocations (f)
(6) (6) (6) (6) (6) (6) (3) (3) (21) (21)
Proforma Operating Profit $514 $515 $687 $689 $538 $546 $463 $478 $2,202 $2,228
Commodity Insights
Revenue
Previously Reported Platts Revenue $ 215 $ 215 $ 217 $ 217 $ 222 $ 222 $ 224 $ 224 $ 878 $ 878
Adjustments
IHS Markit Resources Revenue (a)
224 224 216 216 205 205 209 209 854 854
Transfers from Market Intelligence (h)
15 15 16 16 16 16 17 17 64 64
Divestitures (i)
(46) (46) (45) (45) (45) (45) (47) (47) (183) (183)
Proforma Revenue $ 408 $ 408 $ 404 $ 404 $ 398 $ 398 $ 403 $ 403 $ 1,613 $ 1,613

Q1 Q2 Q3 Q4 Full Year
Reported Adjusted Reported Adjusted Reported Adjusted Reported Adjusted Reported Adjusted
Operating Profit
Previously Reported Platts Operating Profit (j)
$ 112 $ 114 $ 124 $ 127 $ 121 $ 124 $ 101 $ 115 $458 $480
Adjustments
IHS Markit Resources Operating Profit (a)
49 63 61 90 52 66 49 71 211 290
Transfers from Market Intelligence (i)
4 4 5 5 5 5 6 6 20 20
Reallocations (f)
9 9 (1) (1) 7 7 6 6 21 21
Divestitures (i)
(18) (22) (16) (23) (20) (24) (22) (26) (76) (95)
Proforma Operating Profit $156 $168 $173 $198 $165 $178 $140 $172 $634 $716
Mobility
Revenue
Previously Reported Transportation Revenue (a)
$ 299 $ 299 $ 241 $ 241 $ 308 $ 308 $ 310 $ 310 $ 1,158 $ 1,158
Adjustments
Transfers to Market Intelligence and Engineering Solutions (k)
(25) (25) (25) (25) (27) (27) (29) (29) (106) (106)
Proforma Revenue $ 274 $ 274 $ 216 $ 216 $ 281 $ 281 $ 281 $ 281 $ 1,052 $ 1,052
Operating Profit
Previously Reported Transportation Operating Profit (a)
$ 72 $ 102 $ 61 $ 100 $ 114 $ 139 $ 112 $ 126 $ 359 $ 467
Adjustments
Transfers to Market Intelligence and Engineering Solutions (k)
(19) (21) (15) (21) (21) (23) (18) (21) (73) (86)
Reallocations (f)
(17) (17) (19) (19) (11) (11) (8) (8) (55) (55)
Proforma Operating Profit $36 $64 $27 $60 $82 $105 $86 $97 $231 $326
Indices
Revenue
Previously Reported Indices Revenue $ 259 $ 259 $ 240 $ 240 $ 234 $ 234 $ 256 $ 256 $ 989 $ 989
Adjustments
Transfers from Market Intelligence (l)
28 28 29 29 26 26 27 27 110 110
Divestitures (m)
(2) (2) (1) (1) (1) (1) (1) (1) (5) (5)
Proforma Revenue $285 $285 $268 $268 $259 $259 $282 $282 $1,094 $1,094
Operating Profit
Previously Reported Indices Operating Profit (n)
$ 182 $ 183 $ 171 $ 172 $ 151 $ 153 $ 162 $ 176 $ 666 $ 684
Adjustments
Transfers from Market Intelligence (l)
14 15 15 17 13 14 17 18 59 64
Reallocations (f)
(9) (9) (1) (1) (1) (1) (1) (1) (12) (12)
Divestitures (m)
(1) (1) - - - - - - (1) (1)
Proforma Operating Profit $186 $188 $185 $188 $163 $166 $178 $193 $712 $735
Engineering Solutions
Revenue
Previously Reported CMS Revenue (a)
$123 $123 $119 $119 $121 $121 $125 $125 $488 $488
Adjustments
Transfers from Mobility (o)
2 2 2 2 3 3 3 3 10 10
Transfers to Market Intelligence (p)
(28) (28) (26) (26) (27) (27) (29) (29) (110) (110)
Divestitures (q)
(5) (5) (5) (5) (5) (5) (6) (6) (21) (21)
Proforma Revenue $92 $92 $90 $90 $92 $92 $93 $93 $367 $367
Operating Profit
Previously Reported CMS Operating Profit (a)
$21 $24 $21 $29 $23 $26 $17 $27 $82 $106
Adjustments
Transfers from Mobility (o)
2 2 2 2 3 3 2 2 9 9
Transfers to Market Intelligence (p)
(13) (14) (12) (13) (14) (14) (13) (15) (52) (56)
Reallocations (f)
5 5 4 4 7 7 9 9 25 25

Q1 Q2 Q3 Q4 Full Year
Reported Adjusted Reported Adjusted Reported Adjusted Reported Adjusted Reported Adjusted
Divestitures (q)
- (1) (1) (2) (1) (2) - (1) (2) (6)
Proforma Operating Profit $15 $16 $14 $20 $18 $20 $15 $22 $62 $78
Intersegment Elimination
Previously Reported Intersegment Elimination $ (32) $ (32) $ (36) $ (36) $ (34) $ (34) $ (35) $ (35) $ (137) $ (137)
Adjustments
Transfers from Market Intelligence to Indices (r)
(4) (4) (4) (4) (4) (4) (4) (4) (16) (16)
Proforma Intersegment Elimination $(36) $(36) $(40) $(40) $(38) $(38) $(39) $(39) $(153) $(153)
Equity in net (earnings) loss of unconsolidated subsidiaries, net of taxes
IHS Markit equity in (profit) loss on equity-method investees, net of tax $ (16) $ (21) $ (14) $ (18) $ (9) $ (14) $ (6) $ (17) $ (45) $ (70)
Corporate Unallocated Expense
Previously Reported Corporate Unallocated Expense (s)
$ (49) $ (30) $ (42) $ (30) $ (36) $ (32) $ (192) $ (36) $ (319) $ (128)
Adjustments
IHS Markit Shared Services (a)
(61) (61) (72) (40) (42) (37) (81) (35) (256) (173)
Reallocations (f)
73 73 58 58 21 21 16 16 168 168
Proforma Corporate Unallocated Expense $(37) $(18) $(56) $(12) $(57) $(48) $(257) $(55) $(407) $(133)
S&P Global
Previously Reported S&P Global Revenue $ 1,786 $ 1,786 $ 1,943 $ 1,943 $ 1,846 $ 1,846 $ 1,867 $ 1,867 $ 7,442 $ 7,442
Adjustments
IHS Markit Revenue (a)
1,049 1,049 984 984 1,040 1,040 1,067 1,067 4,140 4,140
Divestitures (d) (i) (m) (q)
(109) (109) (106) (106) (108) (108) (112) (112) (435) (435)
Proforma S&P Global Revenue $2,726 $2,726 $2,821 $2,821 $2,778 $2,778 $2,822 $2,822 $11,147 $11,147
Operating Profit
Previously Reported S&P Global Operating Profit $ 912 $ 948 $ 1,105 $ 1,141 $ 944 $ 976 $ 656 $ 903 $3,617 $3,968
Adjustments
IHS Markit Operating Profit (a)
147 251 165 342 236 342 185 339 733 1,274
IHS Markit equity in (profit) loss on equity-method investees, net of tax (16) (21) (14) (18) (9) (14) (6) (17) (45) (70)
Reallocations (f)
4 4 4 4 4 4 4 4 16 16
Divestitures (d) (i) (m) (q)
(59) (64) (57) (65) (63) (68) (65) (70) (244) (267)
Proforma S&P Global Operating Profit $1,020 $1,160 $1,231 $1,440 $1,130 $1,268 $786 $1,193 $4,167 $5,061
Net Income
Proforma S&P Global Operating Profit $1,020 $1,160 $1,231 $1,440 $1,130 $1,268 $786 $1,193 $4,167 $5,061
Other income, net (t)
32 1 (11) (13) (7) (7) (14) (15) - (34)
Interest expense, net (u)
34 34 40 40 314 35 32 32 420 141
IHS Markit interest expense, net 60 60 59 59 57 57 58 58 234 234
Proforma income before taxes on income 894 1,065 1,143 1,354 766 1,183 710 1,118 3,513 4,720
Provision for taxes on income (v)
179 189 223 232 128 204 124 166 654 791
IHS Markit provision for taxes on income (39) 32 36 79 98 77 20 76 115 264
IHS Markit tax on divestitures (5) (8) (5) (8) (6) (9) (6) (9) (22) (34)
Proforma Net Income 759 852 889 1,051 546 910 572 885 2,766 3,698
Less: net income attributable to noncontrolling interests (50) (50) (50) (50) (44) (44) (51) (56) (195) (200)

Q1 Q2 Q3 Q4 Full Year
Reported Adjusted Reported Adjusted Reported Adjusted Reported Adjusted Reported Adjusted
Less: IHS Markit net income attributable to noncontrolling interests 1 1 1 1 (1) (1) - - 1 1
Proforma Net Income attributable to S&P Global Inc. $710 $803 $840 $1,002 $501 $865 $521 $829 $2,572 $3,499
Proforma Diluted Weighted Average Shares Outstanding and Adjusted Diluted Earnings Per Share
Previously Reported S&P Global Diluted Weighted Average Shares Outstanding 243.3 243.3 241.9 241.9 241.6 241.6 241.7 241.7 242.1 242.1
IHS Markit Diluted Weighted Average Shares Outstanding (w)
402.9 402.9 400.3 400.3 400.8 400.8 400.7 400.7 401.2 401.2
Adjustments
Conversion Ratio (x)
0.2838 0.2838 0.2838 0.2838 0.2838 0.2838 0.2838 0.2838 0.2838 0.2838
Proforma Diluted Weighted Average Shares Outstanding 357.6 357.6 355.5 355.5 355.3 355.3 355.4 355.4 356.0 356.0
Proforma Adjusted Diluted Earnings Per Share $ 1.99 $ 2.24 $ 2.36 $ 2.82 $ 1.41 $ 2.43 $ 1.46 $ 2.33 $ 7.22 $ 9.83
Note - Totals may not sum due to rounding

(a) Refer to Exhibit 2 for a reconciliation of IHS Markit's previously reported results conformed to S&P Global's presentation of adjusted
operating results.

(b) To reflect the transfer of IHS Markit's Maritime & Trade business to the Market Intelligence segment from the Mobility segment and
the transfer of the Economics and Country Risk business to the Market Intelligence segment from the Engineering Solutions segment.

(c) To reflect the transfer of both the Market Intelligence Commodities business and IHS Markit's Environmental Solutions business to
the Commodity Insights segment from the Market Intelligence segment and the transfer of IHS Markit's index services business,
Equity Custom Baskets ("ECB"), Halifax House Price Index to the Indices segment from the Market Intelligence segment.

(d) Proforma adjustment to eliminate S&P Global and IHS Markit's divested businesses from the historical segment financial information.
S&P Global's divestitures include CUSIP Global Services and its Leveraged Commentary and Data ("LCD") business while the IHS
Markit's divestiture includes the Life Sciences business.

(e) Q4 2021 and full year 2021 adjustments include employee severance charges of $3 million, acquisition-related costs of $2
million and lease-related costs of $1 million. Q4 2021 and full year 2021 are adjusted for a gain on disposition of $1 million
and $3 million, respectively. Q1, Q4 and full year 2020 include adjustments for employee severance charges of $2 million, $26
million and $27 million, respectively. Q1, Q2, Q3 and full year 2020 include adjustments for gains on dispositions of $7 million, $2
million, $4 million and $12 million, respectively. Q4 and full year 2020 include adjustments for lease-related costs of $3 million.
2021 quarterly and full year are adjusted for amortization of intangibles from acquisitions of $16 million and $65 million, respectively.
2020 quarterly and full year are adjusted for amortization of intangibles from acquisitions were $19 million, $20 million, $19 million,
$17 million and $76 million, respectively.

(f) Adjustment to reallocate the combined central support costs of S&P Global and IHS Markit, which primarily include shared services
costs, IT costs and certain corporate costs using S&P Global's historic allocation methodology to reflect a consistent approach to
allocate shared costs to the segments.

(g) Q4 2021 and full year 2021 adjustments include a gain on disposition of $6 million, recovery of lease-related costs of $4 million and
employee severance charges of $3 million. Q3, Q4 and full year 2020 adjustments include technology-related impairment charge of $5
million, $5 million and $11 million, respectively. Q4 2020 and full year 2020 adjustments include lease-related costs of $5 million and
employee severance charges of $4 million. 2021 quarterly and full year are adjusted for amortization of intangibles from acquisitions
of $5 million, $2 million, $2 million, $2 million, and $10 million, respectively. 2020 Q2, Q3, Q4 and full year are adjusted for
amortization of intangibles from acquisitions of $2 million, $3 million, $2 million and $7 million, respectively.

(h) To reflect the transfer of both the Market Intelligence Commodities business and IHS Markit's Environmental Solutions business to
the Commodity Insights segment from the Market Intelligence segment.

(i) Proforma adjustment to eliminate IHS Markit's divested businesses from the historical segment financial information. IHS Markit's
divestitures include PetroChem Wire businesses ("OPIS") and its base chemicals business.

(j) Q4 2021 and full year 2021 adjustments include recovery of lease-related costs of $2 million. Q4 2020 and full year 2020 adjustments
include employee severance charges of $11 million and lease-related costs of $2 million. 2021 quarterly and full year are

adjusted for amortization of intangibles from acquisitions of $2 million and $8 million, respectively. 2020 quarterly and full year are
adjusted for amortization of intangibles from acquisitions of $2 million and $9 million, respectively.

(k) To reflect the transfer of IHS Markit's Maritime & Trade business to the Market Intelligence segment from the Mobility segment and
the transfer of IHS Markit's Haystack business to the Engineering Solutions segment from the Mobility segment.

(l) To reflect the transfer of IHS Markit's index services business, ECB, Halifax House Price Index, and other expenses to the Indices
segment from the Market Intelligence segment.

(m) Proforma adjustment to eliminate S&P Global's divested businesses from the historical segment financial information. S&P Global's
divestiture includes a family of leveraged loan indices.

(n) Q4 2021 and full year 2021 adjustments include recovery of lease-related costs of $1 million. Q4 2020 and full year 2020 adjustments
include employee severance charges of $5 million, a lease impairment charge of $4 million, a technology-related impairment of $2
million and lease-related costs of $1 million. 2021 quarterly and full year are adjusted for amortization of intangibles from acquisitions
of $1 million and $6 million, respectively. 2020 quarterly and full year are adjusted for amortization of intangibles from acquisitions
of $1 million and $6 million, respectively.

(o) To reflect the transfer of IHS Markit's Haystack business to the Engineering Solutions segment from the Mobility segment.

(p) To reflect the transfer of Economics and Country Risk business to the Market Intelligence segment from the Engineering Solutions
segment.

(q) Proforma adjustment to eliminate IHS Markit's divested businesses from the historical segment financial information IHS Markit's
divestitures include its RootMetrics business.

(r) To reflect the transfer of IHS Markit's Environmental Solutions business to the Commodity Insights segment from the Market
Intelligence segment and the transfer of IHS Markit's index services business, ECB, Halifax House Price Index, and associated
expenses to the Indices segment from the Market Intelligence segment.

(s) Q1 2021 and full year 2021 adjustments include Kensho retention related costs of $2 million. Q2 and full year 2021 adjustments
include a lease impairment charge of $3 million. Q3 2021 and full year 2021 adjustments include a gain on disposition of $3 million
and $2 million, respectively. Q1, Q2, Q3, Q4 and full year 2021 adjustments include IHS Markit merger costs of $49 million, $50
million, $54 million, $96 million and $249 million, respectively. Q4 2021 and full year 2021 adjustments include employee severance
charges of $13 million, lease-related costs of $4 million and acquisition-related costs of $2 million. 2020 quarterly and full year
adjustments include Kensho retention-related costs of $5 million, $2 million, $2 million, $2 million and $12 million, respectively. Q1,
Q2, Q4, and full year 2020 adjustments include employee severance charges of $7 million, $3 million, $9 million and $19 million,
respectively. Q3 2020 and full year 2020 includes an adjustment for a gain on disposition of $4 million. Q4 2020 and full year 2020
include adjustments for lease impairment charges of $116 million. 2021 full year is adjusted for amortization of intangibles from
acquisitions were $7 million. 2020 quarterly and full year are adjusted for amortization of intangibles from acquisitions were $7
million and $26 million, respectively.

(t) Q2 2020 and full year 2020 adjustments include a pension related charge of $3 million.

(u) Q3 2020 and full year 2020 adjustments include a loss on the extinguishment of debt of $279 million.

(v) Q2, Q4 and full year 2021 adjustments include $5 million, $2 million and $7 million, respectively, of tax expense associated with the
re-valuation of deferred tax liabilities related to a UK income tax rate change. Q3 2021 and full year 2021 adjustments include $7
million of tax benefit on a loss on the extinguishment of debt in the prior year. Q4 2021 and full year 2021 adjustments include $1
million of tax benefit related to prior year divestitures. Q4 2020 and full year 2020 adjustments include $4 million of tax benefit
related to prior year divestitures.

(w) Adjusted to align IHS Markit's reported off-calendar quarters to S&P Global's fiscal year presentation that contain calendar quarters.

(x) Under the terms of the merger agreement, at the effective time of the merger each share of IHS Markit issued and outstanding (other
than excluded shares and dissenting shares) was converted into the right to receive 0.2838 fully paid and nonassessable shares of
S&P Global common stock (and, if applicable, cash in lieu of fractional shares, without interest), less any applicable withholding
taxes. The adjustment reflects (i) the elimination of IHS Markit's basic and diluted shares outstanding and (ii) the assumed issuance of
basic and diluted common shares as a result of the merger calculated by multiplying IHS Markit's basic and diluted common shares
outstanding by the 0.2838 exchange ratio.

Q1 2021 Reconciliation of IHS Markit Operating Results by Segment
(dollars in millions)
(unaudited) IHS Markit Segment Information Adjustments to Calendar Quarter (a) Adjustments to Align to S&P Segment Presentation (b) IHS Markit Proforma Segment Information Non-GAAP Adjustments (c) IHS Markit Proforma Segment Adjusted Information
Revenue
Financial Services $ 484 $ 15 $ (45) $ 454 $ - $ 454
Transportation 312 13 - 325 - 325
Resources 203 14 - 217 - 217
CMS 121 1 - 122 - 122
Total Revenue $ 1,120 $ 43 $ (45) $ 1,118 $ - $ 1,118
Operating Profit
Financial Services $ 233 $ 12 $ (160) $ 85 $ 75 $ 160
Transportation 147 10 (36) 121 25 146
Resources 74 11 (26) 59 13 72
CMS 26 - (5) 21 2 23
Total Segment Operating Profit $ 480 $ 33 $ (227) $ 286 $ 115 $ 401
Shared Services $ (13) $ (6) $ (23) (42) $ 17 $ (25)
Operating Profit $ 467 $ 27 $ (250) $ 244 $ 132 $ 376
Costs to reconcile adjusted EBITDA to operating profit
Depreciation $ (56) $ (4) $ 60 $ - $ - $ -
Amortization related to acquired intangible assets (96) 2 94 - - -
Stock-based compensation expense (66) - 66 - - -
Restructuring and impairment charges (1) (6) 7 - - -
Acquisition-related costs & performance compensation (15) (21) 36 - - -
Operating Profit $ 233 $ (2) $ 13 $ 244 $ 132 $ 376
Other income $ - $ - $ - - $ - $ -
Interest expense, net $ 56 $ (1) $ - 55 $ - $ 55
Income before taxes on income $ 177 $ (1) $ 13 $ 189 $ 132 $ 321


Provision for taxes on income $ 30 $ 12 $ (22) 20 $ 52 $ 72
IHS Markit equity in (profit) loss on equity-method investees, net of tax $ (1) $ 2 $ (19) (18) $ (5) $ (23)
Net income $ 148 $ (15) $ 54 187 $ 85 $ 272
Less: NCI net income $ 1 $ - $ - 1 $ - $ 1
Net income attributable to IHS Markit $ 149 $ (15) $ 54 $ 188 $ 85 $ 273
Note - Totals may not sum due to rounding
(a) Adjustments to align IHS Markit's reported off-calendar quarters to S&P Global's fiscal year presentation that contain calendar quarters.
(b) Adjustments include (1) a proforma adjustment reclassifying the $45 million of revenue and $26 million of operating profit associated with IHS Markit's MarketServ business contributed to the OSTTRA joint venture formed September 2021 to Equity in net (earnings) of unconsolidated subsidiaries, net of taxes where the results of OSTTRA will prospectively be reflected, and (2) reclassification adjustments aligning IHS Markit's EBITDA segment presentation to S&P Global's operating profit presentation including depreciation expense of $60 million, stock-based compensation of $66 million, amortization of intangible assets of $94 million, restructuring and impairment charges of $7 million and other acquisition-related costs of $36 million.
(c) Adjustments to present IHS Markit results on an adjusted EBITA performance basis by adjusting for amortization of intangible assets of $92 million, restructuring and impairment charges of $7 million, other acquisition-related costs of $33 million and the related provision for taxes on income of $52 million. Adjustments made to present IHS Markit's MarkitServ operating profit included in Equity in net (earnings) of unconsolidated subsidiaries, net of taxes on a performance basis include amortization of intangible assets of $2 million and other acquisition-related costs of $3 million.


Q2 2021 Reconciliation of IHS Markit Operating Results by Segment
(dollars in millions)
(unaudited) IHS Markit Segment Information Adjustments to Calendar Quarter (a) Adjustments to Align to S&P Segment Presentation (b) IHS Markit Proforma Segment Information Non-GAAP Adjustments (c) IHS Markit Proforma Segment Adjusted Information
Revenue
Financial Services $ 493 $ (8) $ (40) $ 445 $ - $ 445
Transportation 344 - - 344 - 344
Resources 221 (13) - 208 - 208
CMS 123 2 - 125 - 125
Total Revenue $ 1,181 $ (19) $ (40) $ 1,122 $ - $ 1,122
Operating Profit
Financial Services $ 238 $ (6) $ (127) $ 105 $ 63 $ 168
Transportation 171 (1) (34) 136 24 160
Resources 91 (10) (23) 58 12 70
CMS 28 3 (4) 27 2 29
Total Segment Operating Profit $ 528 $ (14) $ (188) $ 326 $ 101 $ 427
Shared Services $ (11) $ (1) $ (23) (35) $ 19 $ (16)
Operating Profit $ 517 $ (15) $ (211) $ 291 $ 120 $ 411
Costs to reconcile adjusted EBITDA to operating profit
Depreciation $ (59) $ 4 $ 55 $ - $ - $ -
Amortization related to acquired intangible assets (91) - 91 - - -
Stock-based compensation expense (50) 2 48 - - -
Restructuring and impairment charges (8) 6 2 - - -
Acquisition-related costs & performance compensation (33) 6 27 - - -
Operating Profit $ 276 $ 3 $ 12 $ 291 $ 120 $ 411
Other income $ - $ - $ - - $ - $ -
Interest expense, net $ 55 $ - $ - 55 $ - $ 55
Income before taxes on income $ 221 $ 3 $ 12 $ 236 $ 120 $ 356


Provision for taxes on income $ 58 $ 10 $ (10) 58 $ 38 $ 96
IHS Markit equity in (profit) loss on equity-method investees, net of tax $ 4 $ - $ (20) (16) $ - $ (16)
Net income $ 159 $ (7) $ 42 194 $ 82 $ 276
Less: NCI net income $ - $ - $ - - $ - $ -
Net income attributable to IHS Markit $ 159 $ (7) $ 42 $ 194 $ 82 $ 276
Note - Totals may not sum due to rounding
(a) Adjustments to align IHS Markit's reported off-calendar quarters to S&P Global's fiscal year presentation that contain calendar quarters.
(b) Adjustments include (1) a proforma adjustment reclassifying the $40 million revenue and $24 million of operating profit associated with IHS Markit's MarketServ business contributed to the OSTTRA joint venture formed September 2021 to Equity in net (earnings) of unconsolidated subsidiaries, net of taxes where the results of OSTTRA will prospectively be reflected, and (2) reclassification adjustments aligning IHS Markit's EBITDA segment presentation to S&P Global's operating profit presentation by including depreciation expense of $55 million, stock-based compensation of $48 million, amortization of intangible assets of $91 million, restructuring and impairment charges of $2 million and other acquisition-related costs of $27 million.
(c) Adjustments to present IHS Markit on an adjusted basis by adjusting for amortization of intangible assets, restructuring and impairment charges, and other acquisition-related costs. Adjustments include amortization of intangible assets of $91 million, restructuring and impairment charges of $2 million, other acquisition-related costs of $27 million and the related provision for taxes on income of $38 million.


Q3 2021 Reconciliation of IHS Markit Operating Results by Segment
(dollars in millions)
(unaudited) IHS Markit Segment Information Adjustments to Calendar Quarter (a) Adjustments to Align to S&P Segment Presentation (b) IHS Markit Proforma Segment Information Non-GAAP Adjustments (c) IHS Markit Proforma Segment Adjusted Information
Revenue
Financial Services $ 490 $ (17) $ (25) $ 448 $ - $ 448
Transportation 347 2 - 349 - 349
Resources 208 (1) - 207 - 207
CMS 136 - - 136 - 136
Total Revenue $ 1,181 $ (16) $ (25) $ 1,140 $ - $ 1,140
Operating Profit
Financial Services $ 241 $ (15) $ 362 $ 588 $ (424) $ 164
Transportation 167 (1) (33) 133 23 156
Resources 84 (1) (27) 56 13 69
CMS 37 (2) (4) 31 1 32
Total Segment Operating Profit $ 529 $ (19) $ 298 $ 808 $ (387) $ 421
Shared Services $ (13) $ 15 $ (44) (42) $ 18 $ (24)
Operating Profit $ 516 $ (4) $ 254 $ 766 $ (369) $ 397
Costs to reconcile adjusted EBITDA to operating profit
Depreciation $ (55) $ 1 $ 54 $ - $ - $ -
Amortization related to acquired intangible assets (90) 3 87 - - -
Stock-based compensation expense (53) - 53 - - -
Restructuring and impairment charges (3) (9) 12 - - -
Acquisition-related costs & performance compensation (24) 3 21 - - -
Gain / Loss on Sale of Assets - 485 (485) - - -
Operating Profit $ 291 $ 479 $ (4) $ 766 $ (369) $ 397
Other income $ - $ - $ - - $ - $ -
Interest expense, net $ 55 $ - $ - 55 $ - $ 55
Income before taxes on income $ 236 $ 479 $ (4) $ 711 $ (369) $ 342


Provision for taxes on income $ 72 $ (58) $ 76 90 $ (17) $ 73
IHS Markit equity in (profit) loss on equity-method investees, net of tax $ 3 $ 1 $ (17) (13) $ (11) $ (24)
Net income $ 161 $ 536 $ (63) 634 $ (341) $ 293
Less: NCI net income $ - $ - $ - - $ - $ -
Net income attributable to IHS Markit $ 161 $ 536 $ (63) $ 634 $ (341) $ 293
Note - Totals may not sum due to rounding
(a) Adjustments to align IHS Markit's reported off-calendar quarters to S&P Global's fiscal year presentation that contain calendar quarters.
(b) Adjustments include (1) a proforma adjustment reclassifying the $25 million revenue and $20 million of operating profit associated with IHS Markit's MarketServ business contributed to the OSTTRA joint venture formed September 2021 to Equity in net (earnings) of unconsolidated subsidiaries, net of taxes where the results of OSTTRA will prospectively be reflected, and (2) reclassification adjustments aligning IHS Markit's EBITDA segment presentation to S&P Global's operating profit presentation by including depreciation expense of $54 million, stock-based compensation of $53 million, amortization of intangible assets of $87 million, restructuring and impairment charges of $12 million, other acquisition-related costs of $21 million and gains on disposals of $485 million.
(c) Adjustments to present IHS Markit on an adjusted basis by adjusting for amortization of intangible assets, restructuring and impairment charges, and other acquisition-related costs. Adjustments include amortization of intangible assets of $87 million, restructuring and impairment charges of $10 million, other acquisition-related costs of $19 million, gains on disposals of $485 million and the related provision for taxes on income of $17 million. Adjustments to present IHS Markit's MarkitServ operating profit included in Equity in net (earnings) of unconsolidated subsidiaries, net of taxes on a performance basis include amortization of intangible assets of $12 million, other acquisition-related costs of $2 million and the related provision for taxes on income of $3 million.


Q4 2021 Reconciliation of IHS Markit Operating Results by Segment
(dollars in millions)
(unaudited) IHS Markit Segment Information Adjustments to Calendar Quarter (a) Adjustments to Align to S&P Segment Presentation (b) IHS Markit Proforma Segment Information Non-GAAP Adjustments (c) IHS Markit Proforma Segment Adjusted Information
Revenue
Financial Services $ 474 $ (3) $ - $ 471 $ - $ 471
Transportation 351 (4) - 347 - 347
Resources 215 1 - 216 - 216
CMS 136 (2) - 134 - 134
Total Revenue $ 1,176 $ (8) $ - $ 1,168 $ - $ 1,168
Operating Profit
Financial Services $ 250 $ (8) $ (184) $ 58 $ 99 $ 157
Transportation 160 (3) (32) 125 19 144
Resources 90 (1) (28) 61 6 67
CMS 40 (2) 21 59 (31) 28
Total Segment Operating Profit $ 540 $ (14) $ (223) $ 303 $ 93 $ 396
Shared Services $ (10) $ (12) $ (53) (75) $ 30 $ (45)
Operating Profit $ 530 $ (26) $ (276) $ 228 $ 123 $ 351
Costs to reconcile adjusted EBITDA to operating profit
Depreciation $ (55) $ (1) $ 56 $ - $ - $ -
Amortization related to acquired intangible assets (85) - 85 - - -
Stock-based compensation expense (58) (6) 64 - - -
Restructuring and impairment charges (19) 8 11 - - -
Acquisition-related costs & performance compensation (54) (10) 64 - - -
Gain / Loss on Sale of Assets 535 (498) (37)
Equity method investment (33) - 33 - - -
Operating Profit $ 761 $ (533) $ - $ 228 $ 123 $ 351
Other income $ - $ - $ (6) (6) $ - $ (6)
Interest expense, net $ 54 $ - $ - 54 $ - $ 54
Income before taxes on income $ 707 $ (533) $ 6 $ 180 $ 123 $ 303


Provision for taxes on income $ (25) $ 87 $ (32) 30 $ 54 $ 84
IHS Markit equity in (profit) loss on equity-method investees, net of tax $ (6) $ 10 $ (2) 2 $ (24) $ (22)
Net income $ 738 $ (630) $ 40 148 $ 93 $ 241
Less: NCI net income $ - $ - $ - - $ - $ -
Net income attributable to IHS Markit $ 738 $ (630) $ 40 $ 148 $ 93 $ 241
Note - Totals may not sum due to rounding
(a) Adjustments to align IHS Markit's reported off-calendar quarters to S&P Global's fiscal year presentation that contain calendar quarters.
(b) Adjustments include (1) an adjustment reclassifying the $2 million of equity income from the OSTTRA joint venture formed September 2021 to Equity in net (earnings) of unconsolidated subsidiaries, net of taxes where the results of OSTTRA will prospectively be reflected, and (2) reclassification adjustments aligning IHS Markit's EBITDA segment presentation to S&P Global's operating profit presentation including depreciation expense of $56 million, stock-based compensation of $64 million, amortization of intangible assets of $85 million, restructuring and impairment charges of $11 million, other acquisition-related costs of $64 million and gains on disposals of $37 million.
(c) Adjustments to present IHS Markit on an adjusted basis by adjusting for amortization of intangible assets, restructuring and impairment charges, and other acquisition-related costs. Adjustments include amortization of intangible assets of $85 million, restructuring and impairment charges of $11 million, other acquisition-related costs of $64 million, gains on disposals of $37 million and the related provision for taxes on income of $54 million. Adjustments made to present equity earnings from the OSTTRA joint venture included in Equity in net (earnings) of unconsolidated subsidiaries, net of taxes on a performance basis include amortization of intangible assets of $31 million and the related provision for taxes on income of $7 million.


FY 2021 Reconciliation of IHS Markit Operating Results by Segment
(dollars in millions)
(unaudited) IHS Markit Segment Information Adjustments to Calendar Quarter (a) Adjustments to Align to S&P Segment Presentation (b) IHS Markit Proforma Segment Information Non-GAAP Adjustments (c) IHS Markit Proforma Segment Adjusted Information
Revenue
Financial Services $ 1,941 $ (13) $ (110) $ 1,818 $ - $ 1,818
Transportation 1,354 11 - 1,365 - 1,365
Resources 847 1 - 848 - 848
CMS 516 1 - 517 - 517
Total Revenue $ 4,658 $ - $ (110) $ 4,548 $ - $ 4,548
Operating Profit
Financial Services $ 962 $ (17) $ (109) $ 836 $ (187) $ 649
Transportation 645 5 (135) 515 91 606
Resources 339 (1) (104) 234 44 278
CMS 131 (1) 8 138 (26) 112
Total Segment Operating Profit $ 2,077 $ (14) $ (340) $ 1,723 $ (78) $ 1,645
Shared Services $ (47) $ (4) $ (143) (194) $ 84 $ (110)
Operating Profit $ 2,030 $ (18) $ (483) $ 1,529 $ 6 $ 1,535
Costs to reconcile adjusted EBITDA to operating profit
Depreciation $ (225) $ - $ 225 $ - $ - $ -
Amortization related to acquired intangible assets (362) 5 357 - - -
Stock-based compensation expense (227) (4) 231 - - -
Restructuring and impairment charges (31) (1) 32 - - -
Acquisition-related costs & performance compensation (126) (22) 148 - - -
Gain / Loss on Sale of Assets 535 (13) (522)
Equity method investment (33) (8) 41 - - -
Operating Profit $ 1,561 $ (61) $ 29 $ 1,529 $ 6 $ 1,535
Other income $ - $ - $ (6) (6) $ - $ (6)
Interest expense, net $ 220 $ (1) $ - 219 $ - $ 219
Income before taxes on income $ 1,341 $ (60) $ 35 $ 1,316 $ 6 $ 1,322


Provision for taxes on income $ 135 $ 51 $ 12 198 $ 127 $ 325
IHS Markit equity in (profit) loss on equity-method investees, net of tax $ - $ 2 $ (47) (45) $ (40) $ (85)
Net income $ 1,206 $ (113) $ 70 1,163 $ (81) $ 1,082
Less: NCI net income $ 1 $ - $ - 1 $ - $ 1
Net income attributable to IHS Markit $ 1,207 $ (113) $ 70 $ 1,164 $ (81) $ 1,083
Note - Totals may not sum due to rounding
(a) Adjustments to align IHS Markit's reported off-calendar quarters to S&P Global's fiscal year presentation that contain calendar quarters.
(b) Adjustments include (1) a proforma adjustment reclassifying the $110 million revenue and $59 million of operating profit associated with IHS Markit's MarketServ business contributed to the OSTTRA joint venture formed September 2021 to Equity in net (earnings) of unconsolidated subsidiaries, net of taxes where the results of OSTTRA will prospectively be reflected, and (2) reclassification adjustments aligning IHS Markit's EBITDA segment presentation to S&P Global's operating profit presentation by including depreciation expense of $225 million, stock-based compensation of $231 million, amortization of intangible assets of $357 million, restructuring and impairment charges of $32 million, other acquisition-related costs of $148 million and gains on disposals of $522 million.
(c) Adjustments to present IHS Markit on an adjusted basis by adjusting for amortization of intangible assets, restructuring and impairment charges, and other acquisition-related costs. Adjustments include amortization of intangible assets of $355 million, restructuring and impairment charges of $30 million, other acquisition-related costs of $143 million, gains on disposals of $522 million and the related provision for taxes on income of $127 million. Adjustments made to present equity earnings from the OSTTRA joint venture included in Equity in net (earnings) of unconsolidated subsidiaries, net of taxes on a performance basis include amortization of intangible assets of $43 million, restructuring and impairment charges of $2 million, other acquisition-related costs of $5 million and the related provision for taxes on income of $10 million.


Q1 2020 Reconciliation of IHS Markit Operating Results by Segment
(dollars in millions)
(unaudited) IHS Markit Segment Information Adjustments to Calendar Quarter (a) Adjustments to Align to S&P Segment Presentation (b) IHS Markit Proforma Segment Information Non-GAAP Adjustments (c) IHS Markit Proforma Segment Adjusted Information
Revenue
Financial Services $ 436 $ 14 $ (47) $ 403 $ - $ 403
Transportation 297 2 - 299 - 299
Resources 226 (2) - 224 - 224
CMS 122 1 - 123 - 123
Total Revenue $ 1,081 $ 15 $ (47) $ 1,049 $ - $ 1,049
Operating Profit
Financial Services $ 205 $ 10 $ (149) $ 66 $ 57 $ 123
Transportation 118 (3) (43) 72 30 102
Resources 90 (8) (33) 49 14 63
CMS 30 - (9) 21 3 24
Total Segment Operating Profit $ 443 $ (1) $ (234) $ 208 $ 104 $ 312
Shared Services $ (11) $ (7) $ (43) (61) $ - $ (61)
Operating Profit $ 432 $ (8) $ (277) $ 147 $ 104 $ 251
Costs to reconcile adjusted EBITDA to operating profit
Depreciation $ (51) $ (4) $ 55 $ - $ - $ -
Amortization related to acquired intangible assets (94) - 94 - - -
Stock-based compensation expense (83) (4) 87 - - -
Restructuring and impairment charges (4) (2) 6 - - -
Acquisition-related costs & performance compensation (1) - 1 - - -
Gain / Loss on Sale of Assets 372 (382) 10 - - -
Operating Profit $ 571 $ (400) $ (24) $ 147 $ 104 $ 251
Interest expense, net $ 61 $ (1) $ - 60 $ - $ 60
Pension mark-to-market and settlement expense $ 22 $ 9 $ - 31 $ (31) $ -
Income before taxes on income $ 488 $ (408) $ (24) $ 56 $ 135 $ 191


Provision for taxes on income $ 4 $ (7) $ (36) (39) $ 71 $ 32
IHS Markit equity in (profit) loss on equity-method investees, net of tax $ - $ - $ (19) (19) $ (5) $ (24)
Net income $ 484 $ (401) $ 31 114 $ 69 $ 183
Less: NCI net income $ 1 $ - $ - 1 $ - $ 1
Net income attributable to IHS Markit $ 485 $ (401) $ 31 $ 115 $ 69 $ 184
Note - Totals may not sum due to rounding
(a) Adjustments to align IHS Markit's reported off-calendar quarters to S&P Global's fiscal year presentation that contain calendar quarters.
(b) Adjustments include (1) a proforma adjustment reclassifying the $47 million of revenue and $24 million of operating profit associated with IHS Markit's MarketServ business contributed to the OSTTRA joint venture formed September 2021 to Equity in net (earnings) of unconsolidated subsidiaries, net of taxes where the results of OSTTRA will prospectively be reflected, and (2) reclassification adjustments aligning IHS Markit's EBITDA segment presentation to S&P Global's operating profit presentation including depreciation expense of $55 million, stock-based compensation of $87 million, amortization of intangible assets of $94 million, restructuring and impairment charges of $6 million, other acquisition-related costs of $1 million and losses on disposals of $10 million.
(c) Adjustments to present IHS Markit results on an adjusted EBITA performance basis by adjusting for amortization of intangible assets of $87 million, restructuring and impairment charges of $6 million, other acquisition-related costs of $1 million, losses on disposals of $10 million, pension settlement of $31 million and the related provision for taxes on income of $71 million. Adjustments made to present IHS Markit's MarkitServ operating profit included in Equity in net (earnings) of unconsolidated subsidiaries, net of taxes on a performance basis include amortization of intangible assets of $7 million and and the related provision for taxes on income of $2 million.



Q2 2020 Reconciliation of IHS Markit Operating Results by Segment
(dollars in millions)
(unaudited) IHS Markit Segment Information Adjustments to Calendar Quarter (a) Adjustments to Align to S&P Segment Presentation (b) IHS Markit Proforma Segment Information Non-GAAP Adjustments (c) IHS Markit Proforma Segment Adjusted Information
Revenue
Financial Services $ 444 $ 4 $ (40) $ 408 $ - $ 408
Transportation 243 (2) - 241 - 241
Resources 219 (3) - 216 - 216
CMS 121 (2) - 119 - 119
Total Revenue $ 1,027 $ (3) $ (40) $ 984 $ - $ 984
Operating Profit
Financial Services $ 231 $ 12 $ (149) $ 94 $ 69 $ 163
Transportation 102 12 (53) 61 39 100
Resources 96 9 (44) 61 29 90
CMS 35 (1) (13) 21 8 29
Total Segment Operating Profit $ 464 $ 32 $ (259) $ 237 $ 145 $ 382
Shared Services $ (10) $ 2 $ (64) (72) $ 32 $ (40)
Operating Profit $ 454 $ 34 $ (323) $ 165 $ 177 $ 342
Costs to reconcile adjusted EBITDA to operating profit
Depreciation $ (57) $ 3 $ 54 $ - $ - $ -
Amortization related to acquired intangible assets (93) - 93 - - -
Stock-based compensation expense (71) 6 65 - - -
Restructuring and impairment charges (81) (1) 82 - - -
Acquisition-related costs & performance compensation (7) 1 6 - - -
Gain / Loss on Sale of Assets (1) (1) 2 - - -
Operating Profit $ 144 $ 42 $ (21) $ 165 $ 177 $ 342
Interest expense, net $ 60 $ (1) $ - 59 $ - $ 59
Pension mark-to-market and settlement expense $ 8 $ (9) $ - (1) $ 1 $ -
Income before taxes on income $ 76 $ 52 $ (21) $ 107 $ 176 $ 283


Provision for taxes on income $ 5 $ (10) $ 41 36 $ 43 $ 79
IHS Markit equity in (profit) loss on equity-method investees, net of tax $ - $ - $ (17) (17) $ (4) $ (21)
Net income $ 71 $ 62 $ (45) 88 $ 137 $ 225
Less: NCI net income $ 1 $ - $ - 1 $ - $ 1
Net income attributable to IHS Markit $ 72 $ 62 $ (45) $ 89 $ 137 $ 226
Note - Totals may not sum due to rounding
(a) Adjustments to align IHS Markit's reported off-calendar quarters to S&P Global's fiscal year presentation that contain calendar quarters.
(b) Adjustments include (1) a proforma adjustment reclassifying the $40 million of revenue and $21 million of operating profit associated with IHS Markit's MarketServ business contributed to the OSTTRA joint venture formed September 2021 to Equity in net (earnings) of unconsolidated subsidiaries, net of taxes where the results of OSTTRA will prospectively be reflected, and (2) reclassification adjustments aligning IHS Markit's EBITDA segment presentation to S&P Global's operating profit presentation including depreciation expense of $54 million, stock-based compensation of $65 million, amortization of intangible assets of $93 million, restructuring and impairment charges of $82 million, other acquisition-related costs of $6 million and losses on disposals of $2 million.
(c) Adjustments to present IHS Markit results on an adjusted EBITA performance basis by adjusting for amortization of intangible assets of $87 million, restructuring and impairment charges of $82 million, other acquisition-related costs of $6 million, losses on disposals of $2 million, pension settlement of $1 million and the related provision for taxes on income of $43 million. Adjustments made to present IHS Markit's MarkitServ operating profit included in Equity in net (earnings) of unconsolidated subsidiaries, net of taxes on a performance basis include amortization of intangible assets of $6 million and the related provision for taxes on income of $2 million.



Q3 2020 Reconciliation of IHS Markit Operating Results by Segment
(dollars in millions)
(unaudited) IHS Markit Segment Information Adjustments to Calendar Quarter (a) Adjustments to Align to S&P Segment Presentation (b) IHS Markit Proforma Segment Information Non-GAAP Adjustments (c) IHS Markit Proforma Segment Adjusted Information
Revenue
Financial Services $ 446 $ (2) $ (38) $ 406 $ - $ 406
Transportation 299 9 - 308 - 308
Resources 208 (3) - 205 - 205
CMS 120 1 - 121 - 121
Total Revenue $ 1,073 $ 5 $ (38) $ 1,040 $ - $ 1,040
Operating Profit
Financial Services $ 226 $ (4) $ (133) $ 89 $ 59 $ 148
Transportation 154 - (40) 114 25 139
Resources 86 (5) (29) 52 14 66
CMS 31 (1) (7) 23 3 26
Total Segment Operating Profit $ 497 $ (10) $ (209) $ 278 $ 101 $ 379
Shared Services $ (11) $ (4) $ (27) (42) $ 5 $ (37)
Operating Profit $ 486 $ (14) $ (236) $ 236 $ 106 $ 342
Costs to reconcile adjusted EBITDA to operating profit
Depreciation $ (55) $ 2 $ 53 $ - $ - $ -
Amortization related to acquired intangible assets (93) (1) 94 - - -
Stock-based compensation expense (56) 1 55 - - -
Restructuring and impairment charges (12) 2 10 - - -
Acquisition-related costs & performance compensation (9) - 9 - - -
Gain / Loss on Sale of Assets - 1 (1) - - -
Operating Profit $ 261 $ (9) $ (16) $ 236 $ 106 $ 342
Interest expense, net $ 57 $ - $ - 57 $ - $ 57
Pension mark-to-market and settlement expense $ - $ - - $ - $ -
Income before taxes on income $ 204 $ (9) $ (16) $ 179 $ 106 $ 285


Provision for taxes on income $ 40 $ 10 $ 48 98 $ (21) $ 77
IHS Markit equity in (profit) loss on equity-method investees, net of tax $ - $ - $ (12) (12) $ (5) $ (17)
Net income $ 164 $ (19) $ (52) 93 $ 132 $ 225
Less: NCI net income $ (1) $ - $ - (1) $ - $ (1)
Net income attributable to IHS Markit $ 163 $ (19) $ (52) $ 92 $ 132 $ 224
Note - Totals may not sum due to rounding
(a) Adjustments to align IHS Markit's reported off-calendar quarters to S&P Global's fiscal year presentation that contain calendar quarters.
(b) Adjustments include (1) a proforma adjustment reclassifying the $38 million of revenue and $21 million of operating profit associated with IHS Markit's MarketServ business contributed to the OSTTRA joint venture formed September 2021 to Equity in net (earnings) of unconsolidated subsidiaries, net of taxes where the results of OSTTRA will prospectively be reflected, and (2) reclassification adjustments aligning IHS Markit's EBITDA segment presentation to S&P Global's operating profit presentation including depreciation expense of $53 million, stock-based compensation of $55 million, amortization of intangible assets of $94 million, restructuring and impairment charges of $10 million, other acquisition-related costs of $9 million and gains on disposals of $1 million.
(c) Adjustments to present IHS Markit results on an adjusted EBITA performance basis by adjusting for amortization of intangible assets of $88 million, restructuring and impairment charges of $10 million, other acquisition-related costs of $9 million, gains on disposals of $1 million and the related provision for taxes on income of $21 million. Adjustments made to present IHS Markit's MarkitServ operating profit included in Equity in net (earnings) of unconsolidated subsidiaries, net of taxes on a performance basis include amortization of intangible assets of $6 million and the related provision for taxes on income of $1 million.



Q4 2020 Reconciliation of IHS Markit Operating Results by Segment
(dollars in millions)
(unaudited) IHS Markit Segment Information Adjustments to Calendar Quarter (a) Adjustments to Align to S&P Segment Presentation (b) IHS Markit Proforma Segment Information Non-GAAP Adjustments (c) IHS Markit Proforma Segment Adjusted Information
Revenue
Financial Services $ 458 $ 6 $ (41) $ 423 $ - $ 423
Transportation 313 (3) - 310 - 310
Resources 210 (1) - 209 - 209
CMS 126 (1) - 125 - 125
Total Revenue $ 1,107 $ 1 $ (41) $ 1,067 $ - $ 1,067
Operating Profit
Financial Services $ 224 $ 2 $ (138) $ 88 $ 62 $ 150
Transportation 141 - (29) 112 14 126
Resources 85 (2) (34) 49 22 71
CMS 31 1 (15) 17 10 27
Total Segment Operating Profit $ 481 $ 1 $ (216) $ 266 $ 108 $ 374
Shared Services $ (16) $ 12 $ (77) (81) $ 46 $ (35)
Operating Profit $ 465 $ 13 $ (293) $ 185 $ 154 $ 339
Costs to reconcile adjusted EBITDA to operating profit
Depreciation $ (54) $ (2) $ 56 $ - $ - $ -
Amortization related to acquired intangible assets (94) 1 93 - - -
Stock-based compensation expense (56) (2) 58 - - -
Restructuring and impairment charges (64) 1 63 - - -
Acquisition-related costs & performance compensation (28) 12 16 - - -
Gain / Loss on Sale of Assets 6 - (6) - - -
Operating Profit $ 175 $ 23 $ (13) $ 185 $ 154 $ 339
Interest expense, net $ 58 $ - $ - 58 $ - $ 58
Pension mark-to-market and settlement expense $ 1 $ - $ - 1 $ (1) $ -
Income before taxes on income $ 116 $ 23 $ (13) $ 126 $ 155 $ 281


Provision for taxes on income $ (36) $ 121 $ (64) 21 $ 55 $ 76
IHS Markit equity in (profit) loss on equity-method investees, net of tax $ 1 $ - $ (10) (9) $ (11) $ (20)
Net income $ 151 $ (98) $ 61 $ 114 $ 111 $ 225
Less: NCI net income $ - $ - $ - - $ - $ -
Net income attributable to IHS Markit $ 151 $ (98) $ 61 $ 114 $ 111 $ 225
Note - Totals may not sum due to rounding
(a) Adjustments to align IHS Markit's reported off-calendar quarters to S&P Global's fiscal year presentation that contain calendar quarters.
(b) Adjustments include (1) a proforma adjustment reclassifying the $41 million of revenue and $14 million of operating profit associated with IHS Markit's MarketServ business contributed to the OSTTRA joint venture formed September 2021 to Equity in net (earnings) of unconsolidated subsidiaries, net of taxes where the results of OSTTRA will prospectively be reflected, and (2) reclassification adjustments aligning IHS Markit's EBITDA segment presentation to S&P Global's operating profit presentation including depreciation expense of $56 million, stock-based compensation of $58 million, amortization of intangible assets of $93 million, restructuring and impairment charges of $63 million, other acquisition-related costs of $16 million and gains on disposals of $6 million.
(c) Adjustments to present IHS Markit results on an adjusted EBITA performance basis by adjusting for amortization of intangible assets of $87 million, restructuring and impairment charges of $63 million, other acquisition-related costs of $10 million, gains on disposals of $6 million, pension settlement of $1 million and the related provision for taxes on income of $55 million. Adjustments made to present IHS Markit's MarkitServ operating profit included in Equity in net (earnings) of unconsolidated subsidiaries, net of taxes on a performance basis include amortization of intangible assets of $6 million, acquisition-related costs of $6 million and the related provision for taxes on income of $1 million.



FY 2020 Reconciliation of IHS Markit Operating Results by Segment
(dollars in millions)
(unaudited) IHS Markit Segment Information Adjustments to Calendar Quarter (a) Adjustments to Align to S&P Segment Presentation (b) IHS Markit Proforma Segment Information Non-GAAP Adjustments (c) IHS Markit Proforma Segment Adjusted Information
Revenue
Financial Services $ 1,784 $ 22 $ (166) $ 1,640 $ - $ 1,640
Transportation 1,152 6 - 1,158 - 1,158
Resources 863 (9) - 854 - 854
CMS 489 (1) - 488 - 488
Total Revenue $ 4,288 $ 18 $ (166) $ 4,140 $ - $ 4,140
Operating Profit
Financial Services $ 886 $ 20 $ (569) $ 337 $ 247 $ 584
Transportation 515 9 (165) 359 108 467
Resources 357 (6) (140) 211 79 290
CMS 127 (1) (44) 82 24 106
Total Segment Operating Profit $ 1,885 $ 22 $ (918) $ 989 $ 458 $ 1,447
Shared Services $ (48) $ 3 $ (211) (256) $ 83 $ (173)
Operating Profit $ 1,837 $ 25 $ (1,129) $ 733 $ 541 $ 1,274
Costs to reconcile adjusted EBITDA to operating profit
Depreciation $ (218) $ - $ 218 $ - $ - $ -
Amortization related to acquired intangible assets (374) - 374 - - -
Stock-based compensation expense (266) 1 265 - - -
Restructuring and impairment charges (161) - 161 - - -
Acquisition-related costs & performance compensation (45) 13 32 - - -
Gain / Loss on Sale of Assets 377 (382) 5 - - -
Operating Profit $ 1,150 $ (343) $ (74) $ 733 $ 541 $ 1,274
Interest expense, net $ 236 $ (2) $ - 234 $ - $ 234
Pension mark-to-market and settlement expense $ 31 $ - $ - 31 $ (31) $ -
Income before taxes on income $ 883 $ (341) $ (74) $ 468 $ 572 $ 1,040


Provision for taxes on income $ 13 $ 114 $ (11) 116 $ 148 $ 264
IHS Markit equity in (profit) loss on equity-method investees, net of tax $ 1 $ - $ (58) (57) $ (25) $ (82)
Net income $ 869 $ (455) $ (5) $ 409 $ 449 $ 858
Less: NCI net income $ 1 $ - $ - 1 $ - $ 1
Net income attributable to IHS Markit $ 870 $ (455) $ (5) $ 410 $ 449 $ 859
Note - Totals may not sum due to rounding
(a) Adjustments to align IHS Markit's reported off-calendar quarters to S&P Global's fiscal year presentation that contain calendar quarters.
(b) Adjustments include (1) a proforma adjustment reclassifying the $166 million of revenue and $74 million of operating profit associated with IHS Markit's MarketServ business contributed to the OSTTRA joint venture formed September 2021 to Equity in net (earnings) of unconsolidated subsidiaries, net of taxes where the results of OSTTRA will prospectively be reflected, and (2) reclassification adjustments aligning IHS Markit's EBITDA segment presentation to S&P Global's operating profit presentation including depreciation expense of $218 million, stock-based compensation of $265 million, amortization of intangible assets of $374 million, restructuring and impairment charges of $161 million, other acquisition-related costs of $32 million and losses on disposals of $5 million.
(c) Adjustments to present IHS Markit results on an adjusted EBITA performance basis by adjusting for amortization of intangible assets of $349 million, restructuring and impairment charges of $161 million, other acquisition-related costs of $26 million, losses on disposals of $5 million, pension settlement of $31 million and the related provision for taxes on income of $148 million. Adjustments made to present IHS Markit's MarkitServ operating profit included in Equity in net (earnings) of unconsolidated subsidiaries, net of taxes on a performance basis include amortization of intangible assets of $25 million, acquisition-related costs of $6 million and the related provision for taxes on income of $6 million.


Exhibit 3
S&P Global
S&P Global and IHS Markit Proforma Combined Company
Operating Results by Segment
Periods ended December 31, 2021
(dollars in millions, except per share data)

(unaudited) Proforma Revenue
Q1 Q2 Q3 Q4 Full Year
Market Intelligence $ 950 $ 957 $ 974 $ 1,009 $ 3,890
Ratings 1,017 1,073 1,017 990 4,097
Commodity Insights 410 413 413 433 1,669
Mobility 296 315 319 316 1,246
Indices 297 303 323 330 1,253
Engineering Solutions 91 93 104 103 391
Intersegment Elimination (39) (41) (41) (43) (164)
Total proforma revenue $ 3,022 $ 3,113 $ 3,109 $ 3,138 $ 12,382
Proforma Adjusted Expenses
Q1 Q2 Q3 Q4 Full Year
Market Intelligence $ 648 $ 629 $ 663 $ 726 $ 2,666
Ratings 332 344 373 425 1,474
Commodity Insights 219 223 229 255 926
Mobility 178 184 190 199 751
Indices 94 94 99 120 407
Engineering Solutions 78 73 83 84 318
Intersegment Elimination (39) (41) (41) (43) (164)
Total proforma adjusted expenses $ 1,510 $ 1,506 $ 1,596 $ 1,766 $ 6,378
Proforma Adjusted Segment Operating Profit
Q1 Q2 Q3 Q4 Full Year
Market Intelligence $ 302 $ 328 $ 311 $ 283 $ 1,224
Ratings 685 729 644 565 2,623
Commodity Insights 191 190 184 178 743
Mobility 118 131 129 117 495
Indices 203 209 224 210 846
Engineering Solutions 13 20 21 19 73
Proforma adjusted segment operating profit $ 1,512 $ 1,607 $ 1,513 $ 1,372 $ 6,004

Exhibit 3
Proforma Adjusted Operating Profit
Q1 Q2 Q3 Q4 Full Year
Proforma adjusted segment operating profit $ 1,512 $ 1,607 $ 1,513 $ 1,372 $ 6,004
Equity in net (earnings) loss of unconsolidated subsidiaries, net of taxes (20) (13) (24) (22) (79)
Corporate Unallocated expense 39 36 36 58 169
Proforma adjusted operating profit $ 1,493 $ 1,584 $ 1,501 $ 1,336 $ 5,914
Proforma Adjusted Net Income & Diluted EPS
Q1 Q2 Q3 Q4 Full Year
Proforma adjusted operating profit $ 1,493 $ 1,584 $ 1,501 $ 1,336 $ 5,914
Other income, net (7) (22) (22) (11) (62)
Interest expense, net 87 87 86 78 338
Proforma income before taxes on income 1,413 1,519 1,437 1,269 5,638
Provision for taxes on income 318 363 282 263 1,226
Proforma adjusted net income $ 1,095 $ 1,156 $ 1,155 $ 1,006 $ 4,412
Less: net income attributable to noncontrolling interests (53) (59) (64) (62) (238)
Proforma adjusted net income attributable to S&P Global $ 1,042 $ 1,097 $ 1,091 $ 944 $ 4,174
Diluted weighted-average number of common shares outstanding 355.3 355.6 355.6 356.4 355.7
Proforma adjusted diluted EPS $ 2.93 $ 3.09 $ 3.07 $ 2.65 $ 11.73
Note - Totals may not sum due to rounding

Exhibit 3
S&P Global
S&P Global and IHS Markit Proforma Combined Company
Operating Results by Segment
Periods ended December 31, 2020
(dollars in millions, except per share data)

(unaudited) Proforma Revenue
Q1 Q2 Q3 Q4 Full Year
Market Intelligence $ 878 $ 877 $ 892 $ 921 $ 3,568
Ratings 825 1,006 894 881 3,606
Commodity Insights 408 404 398 403 1,613
Mobility 274 216 281 281 1,052
Indices 285 268 259 282 1,094
Engineering Solutions 92 90 92 93 367
Intersegment Elimination (36) (40) (38) (39) (153)
Total proforma revenue $ 2,726 $ 2,821 $ 2,778 $ 2,822 $ 11,147
Proforma Adjusted Expenses
Q1 Q2 Q3 Q4 Full Year
Market Intelligence $ 672 $ 598 $ 605 $ 652 $ 2,527
Ratings 310 317 348 403 1,378
Commodity Insights 240 206 220 231 897
Mobility 210 156 176 184 726
Indices 97 80 93 89 359
Engineering Solutions 76 70 72 71 289
Intersegment Elimination (36) (40) (38) (39) (153)
Total proforma adjusted expenses $ 1,569 $ 1,387 $ 1,476 $ 1,591 $ 6,023
Proforma Adjusted Segment Operating Profit
Q1 Q2 Q3 Q4 Full Year
Market Intelligence $ 206 $ 279 $ 287 $ 269 $ 1,041
Ratings 515 689 546 478 2,228
Commodity Insights 168 198 178 172 716
Mobility 64 60 105 97 326
Indices 188 188 166 193 735
Engineering Solutions 16 20 20 22 78
Proforma adjusted segment operating profit $ 1,157 $ 1,434 $ 1,302 $ 1,231 $ 5,124

Exhibit 3
Proforma Adjusted Operating Profit
Q1 Q2 Q3 Q4 Full Year
Proforma adjusted segment operating profit $ 1,157 $ 1,434 $ 1,302 $ 1,231 $ 5,124
Equity in net (earnings) loss of unconsolidated subsidiaries, net of taxes (21) (18) (14) (17) (70)
Corporate Unallocated expense 18 12 48 55 133
Proforma adjusted operating profit $ 1,160 $ 1,440 $ 1,268 $ 1,193 $ 5,061
Proforma Adjusted Net Income & Diluted EPS
Q1 Q2 Q3 Q4 Full Year
Proforma adjusted operating profit $ 1,160 $ 1,440 $ 1,268 $ 1,193 $ 5,061
Other income, net 1 (13) (7) (15) (34)
Interest expense, net 94 99 92 90 375
Proforma income before taxes on income 1,065 1,354 1,183 1,118 4,720
Provision for taxes on income 213 303 273 233 1,022
Proforma adjusted net income $ 852 $ 1,051 $ 910 $ 885 $ 3,698
Less: net income attributable to noncontrolling interests (49) (49) (45) (56) (199)
Proforma adjusted net income attributable to S&P Global $ 803 $ 1,002 $ 865 $ 829 $ 3,499
Diluted weighted-average number of common shares outstanding 357.6 355.5 355.3 355.4 356.0
Proforma adjusted diluted EPS $ 2.24 $ 2.82 $ 2.43 $ 2.33 $ 9.83
Note - Totals may not sum due to rounding

Disclaimer

S&P Global Inc. published this content on 28 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 February 2022 21:58:26 UTC.


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