66-67
Cash Returned to Shareholders U.S. GAAP

Delivering Shareholder Value

Consistent with the Company’s capital allocation framework, the Company returned $2.2 billion to shareholders in 2018 with $1.7 billion in share repurchases and $503 million in dividends.

Cash Returned to Shareholders

(dollars in millions)

'08
'09
'10
'11
'12
'13
'14
'15
'16
'17
'18
Share repurchases
$447
$256
$1,500
$295
$978
$362
$974
$1,123
$1,001
$1,660
Special dividend
697
Regular dividend
281
281
292
296
287
308
326
363
380
421
503
Total SPGI
$728
$281
$548
$1,796
$1,279
$1,286
$688
$1,337
$1,503
$1,422
$2,163

Note:  Shares repurchased are reported on a settlement-date basis

46th Consecutive Year of Dividend Increases

S&P Global has paid a dividend each year since 1937 and is one of fewer than 25 companies in the S&P 500 that has increased its dividend annually for at least the last 46 years. A new annualized dividend rate of $2.28 per share of common stock was approved by the Board of Directors on January 30, 2019.

Dividends per Share of Common Stock

'08
'09
'10
'11
'12
'13
'14
'15
'16
'17
'18
Special
$2.50
Regular
$0.88
$0.90
$0.94
$1.00
$1.02
$1.12
$1.20
$1.32
$1.44
$1.64
$2.00

Note:  2012 includes a special dividend of $2.50 per share on the Company’s common stock

Dividend Payout (Based on Regular Dividends)

(as a percentage of current year’s GAAP earnings)

'08
'09
'10
'11
'12
'13
'14
'15
'16
'17
'18
Dividend
281%
281%
292%
296%
287%
308%
326%
363%
380%
421%
503%
Net Income
800%
731%
828%
911%
437%
1376%
(115)%
1156%
2106%
1496%
1958%
Payout (%)
35
38
35
33
66
22
(284)
31
18
28
26

*Attributable to SPGI
Note:  The 2014 dividend payout percentage reflects the impact of legal and regulatory settlements

During the three years ended December 31, 2018, the Company returned approximately $5.1 billion to shareholders through dividends and share repurchases

Share Repurchase Authorization

In 2018, the Company repurchased 8.4 million shares from its current authorization. As of December 31, 2018, the Company had approximately 253 million diluted weighted average shares outstanding and 10.6 million shares remained under the existing share repurchase authorization.(1)

Diluted Weighted Average Shares Outstanding

(in millions)

50 150 250 350 450 350 250 450 2018 2010 1996 23% reduction

Debt Profile

Debt and Cash Positions

(dollars in millions) (as of December 31)

0 1000 2000 3000 4000 2018 2017 ’17 ’18 1,000 2,000 3,000 $4,000 Total debt Cash, cash equivalents, and restricted cash & short-term investments

Summary of Debt Outstanding

(dollars in millions) (as of December 31)

Senior Notes:
Interest, Redemption

CUSIP20172018

2.50%, due 2018

78409VAH7$399

3.30%, due 2020

78409VAJ3697698

4.00%, due 2025

78409VAD6692693

4.40%, due 2026

78409VAK0892892

2.95%, due 2027

78409VAL8493493

6.55%, due 2037

78409VAB0396396

4.50%, due 2048

78409VAN4490

Total debt

$3,569$3,662

Less: Short-term debt including current maturities

399

Long-term debt

$3,170$3,662

Total debt

$3,569$3,662

Less: Cash, cash equivalents, and restricted cash & short-term investments

$2,791$1,976

Net debt

$778$1,686

Senior Notes:
Interest, Redemption

CUSIP20172018

2.50%, due 2018

78409VAH7$399

3.30%, due 2020

78409VAJ3697698

4.00%, due 2025

78409VAD6692693

4.40%, due 2026

78409VAK0892892

2.95%, due 2027

78409VAL8493493

6.55%, due 2037

78409VAB0396396

4.50%, due 2048

78409VAN4490

Total debt

$3,569$3,662

Less: Short-term debt including current maturities

399

Long-term debt

$3,170$3,662

Total debt

$3,569$3,662

Less: Cash, cash equivalents, and restricted cash & short-term investments

$2,791$1,976

Net debt

$778$1,686

Debt Ratings

FitchMoody’s

Long-term debt

A–A3

Outlook

StableStable

As of Date

10/12/20188/8/2018
FitchMoody’s

Long-term debt

A–A3

Outlook

StableStable

As of Date

10/12/20188/8/2018

Stock Information

Stock Split History, 1953–2005

Record Date

Payment DateDistribution

May 6, 2005

May 17, 20052–for–1

February 24, 1999

March 8, 19992–for–1

March 28, 1996

April 26, 19962–for–1

May 9, 1983

June 1, 19832–for–1

June 30, 1967

July 17, 19672–for–1

March 10, 1961

March 17, 19613–for–1

July 25, 1956

August 8, 19563–for–1

July 24, 1953

August 3, 19532–for–1

Record Date

Payment DateDistribution

May 6, 2005

May 17, 20052–for–1

February 24, 1999

March 8, 19992–for–1

March 28, 1996

April 26, 19962–for–1

May 9, 1983

June 1, 19832–for–1

June 30, 1967

July 17, 19672–for–1

March 10, 1961

March 17, 19613–for–1

July 25, 1956

August 8, 19563–for–1

July 24, 1953

August 3, 19532–for–1

Ticker, Exchange & Identifiers

Ticker Symbol

SPGI

Exchange

NYSE

CUSIP

78409V104

ISIN

US78409V1044

GICS

40201040

Sector

Financials

Ticker Symbol

SPGI

Exchange

NYSE

CUSIP

78409V104

ISIN

US78409V1044

GICS

40201040

Sector

Financials

Institutional Ownership

(percent of shares outstanding) (period ended 3/31/2019)

U.S. and Canada

68%

Rest of World

18%

Total

86%

U.S. and Canada

68%

Rest of World

18%

Total

86%

Index Membership

S&P 500 Index and various sub-sector indices