75
Adjusted Results by Quarter: 2018 and 2019

Adjusted Operating Profit by Quarter

(in millions)

Q1Q2Q3Q4Full Year
2018201920182019201820192018201920182019

Ratings

$415$369$449$472$402$477$373$478$1,637$1,796

Market Intelligence

117153135157156157173162580629

Platts

99103107116107112106112419443

Indices

150151139164137163145159571637

Total SPGI adjusted division operating profit

$781$775$829$909$802$910$796$911$3,208$3,505

Adjusted corporate unallocated

(46)(32)(39)(35)(35)(33)(35)(45)(156)(145)

Total adjusted operating profit

$735$743$790$874$767$877$761$866$3,052$3,360
Q1Q2Q3Q4Full Year
2018201920182019201820192018201920182019

Ratings

$415$369$449$472$402$477$373$478$1,637$1,796

Market Intelligence

117153135157156157173162580629

Platts

99103107116107112106112419443

Indices

150151139164137163145159571637

Total SPGI adjusted division operating profit

$781$775$829$909$802$910$796$911$3,208$3,505

Adjusted corporate unallocated

(46)(32)(39)(35)(35)(33)(35)(45)(156)(145)

Total adjusted operating profit

$735$743$790$874$767$877$761$866$3,052$3,360

Adjusted Other (Income) Expense, Net

(in millions)

Q1Q2Q3Q4Full Year
2018201920182019201820192018201920182019

Adjusted other (income) expense, net

$(4)$(10)$(11)$(6)$(6)$8$(7)$(6)$(29)$(14)
Q1Q2Q3Q4Full Year
2018201920182019201820192018201920182019

Adjusted other (income) expense, net

$(4)$(10)$(11)$(6)$(6)$8$(7)$(6)$(29)$(14)

Adjusted Interest Expense

(in millions)

Q1Q2Q3Q4Full Year
2018201920182019201820192018201920182019

Adjusted interest expense

$34$36$26$37$38$32$36$36$134$141
Q1Q2Q3Q4Full Year
2018201920182019201820192018201920182019

Adjusted interest expense

$34$36$26$37$38$32$36$36$134$141

Adjusted Provision for Income Taxes

(in millions)

Q1Q2Q3Q4Full Year
2018201920182019201820192018201920182019

Adjusted provision for income taxes

$153$150$185$195$161$186$134$171$633$702
Q1Q2Q3Q4Full Year
2018201920182019201820192018201920182019

Adjusted provision for income taxes

$153$150$185$195$161$186$134$171$633$702

Adjusted Effective Tax Rate

(in millions, except tax rate)

Q1Q2Q3Q4Full Year
2018201920182019201820192018201920182019

Adjusted operating profit

$735$743$790$874$767$877$761$866$3,052$3,360

Adjusted other income

4101166(8)762914

Adjusted interest expense

(34)(36)(26)(37)(38)(32)(36)(36)(134)(141)

Adjusted income before taxes on income

$705$717$775$843$736$837$732$836$2,948$3,233

Adjusted provision for income taxes

$153$150$185$195$161$186$134$171$633$702

Adjusted effective tax rate (1)

21.7%20.9%23.9%23.1%21.9%22.2%18.3%20.4%21.5%21.7%
Q1Q2Q3Q4Full Year
2018201920182019201820192018201920182019

Adjusted operating profit

$735$743$790$874$767$877$761$866$3,052$3,360

Adjusted other income

4101166(8)762914

Adjusted interest expense

(34)(36)(26)(37)(38)(32)(36)(36)(134)(141)

Adjusted income before taxes on income

$705$717$775$843$736$837$732$836$2,948$3,233

Adjusted provision for income taxes

$153$150$185$195$161$186$134$171$633$702

Adjusted effective tax rate (1)

21.7%20.9%23.9%23.1%21.9%22.2%18.3%20.4%21.5%21.7%

Adjusted Net Income Attributable to SPGI and Adjusted Diluted EPS

(in millions, except per share data)

Q1Q2Q3Q4Full Year
2018201920182019201820192018201920182019

Adjusted net income attributable to SPGI

$509$524$549$601$536$606$559$621$2,152$2,352

Adjusted diluted EPS

$2.00$2.11$2.17$2.43$2.11$2.46$2.22$2.53$8.50$9.53
Q1Q2Q3Q4Full Year
2018201920182019201820192018201920182019

Adjusted net income attributable to SPGI

$509$524$549$601$536$606$559$621$2,152$2,352

Adjusted diluted EPS

$2.00$2.11$2.17$2.43$2.11$2.46$2.22$2.53$8.50$9.53
Notes:

In the first quarter of 2020, the Company changed its allocation methodology for allocating its centrally managed technology-related expenses to its reportable segments to more accurately reflect each segment’s respective usage. The adjusted results by quarter reflect the allocation methodology change to technology-related expenses for each of the four quarters and the full years of 2018 and 2019. Prior years were not restated

For additional information, see footnotes on pages 4 and 59

(1)

The adjusted effective tax rate is calculated by dividing the adjusted provision for income taxes by the adjusted income before taxes on income

Details may not sum to total due to rounding