Financial Review: 69Global Revenue by Division*
U.S. GAAP
Global Revenue by Division
(dollars in millions)
2020 | 2021 | 2022 | 2023 | 2024 | % of | |
| U.S. (2) | ||||||
| Market Intelligence | $1,316 | $1,374 | $2,231 | $2,600 | $2,766 | 32% |
| Ratings | 2,110 | 2,398 | 1,652 | 1,824 | 2,500 | 29% |
| Commodity Insights | 322 | 356 | 673 | 773 | 835 | 10% |
| Mobility | – | – | 932 | 1,223 | 1,325 | 15% |
| Indices | 826 | 959 | 1,088 | 1,147 | 1,322 | 15% |
| Engineering Solutions | – | – | 179 | 72 | – | 0% |
| Interdivision revenue elimination | (70) | (75) | (102) | (97) | (108) | (1)% |
| U.S. revenue (3) | $4,504 | $5,012 | $6,653 | $7,542 | $8,640 | – |
% of | ||||||
| Ex-U.S. (1, 2) | ||||||
| Market Intelligence | $730 | $811 | $1,580 | $1,776 | 1,879 | 34% |
| Ratings | 1,496 | 1,699 | 1,398 | 1,508 | 1,870 | 34% |
| Commodity Insights | 616 | 656 | 1,012 | 1,173 | 1,307 | 23% |
| Mobility | – | – | 210 | 261 | 284 | 5% |
| Indices | 163 | 190 | 251 | 256 | 306 | 5% |
| Engineering Solutions | – | – | 144 | 61 | – | 0% |
| Interdivision revenue elimination | (67) | (71) | (67) | (80) | (78) | (1)% |
| Ex-U.S. revenue (3) | $2,938 | $3,285 | $4,528 | $4,955 | $5,568 | – |
| Total revenue (3) | $7,442 | $8,297 | $11,181 | $12,497 | $14,208 | – |
Number of Employees*
2020 | 2021 | 2022 | 2023 | 2024 | |
| Asia | 14,550 | 14,600 | 21,750 | 22,450 | 24,450 |
| U.S. and Canada | 5,750 | 5,500 | 11,750 | 11,550 | 11,200 |
| Europe, Middle East, and Africa | 2,100 | 2,150 | 5,700 | 5,600 | 5,700 |
| Latin America | 600 | 600 | 750 | 850 | 1,000 |
| Total employees | 23,000 | 22,850 | 39,950 | 40,450 | 42,350 |
Notes for page 69:
Ex-U.S. revenue includes international sales by U.S. operations
Individual division results do not include adjustment for interdivision revenue elimination
Total Company revenue includes interdivision revenue elimination
Details may not sum to total due to rounding
SPGI: Refer to the SPGI footnotes on page 2 for further details on the Company’s divisions