64-65Global Revenue: U.S. and Ex-U.S. | Revenue by Division
U.S. GAAP
Global Revenue by U.S. and Ex-U.S.*
Global Revenue by Division
(dollars in millions)
2017 | 2018 (4) | 2019 | 2020 | 2021 | % of | |
| U.S. (2) | ||||||
| Ratings | $1,716 | $1,619 | $1,745 | $2,110 | $2,398 | 48% |
| Market Intelligence | 1,114 | 1,180 | 1,240 | 1,355 | 1,420 | 28% |
| Platts | 284 | 283 | 281 | 283 | 310 | 6% |
| Indices | 601 | 719 | 772 | 826 | 959 | 19% |
| Interdivision revenue elimination | (57) | (66) | (62) | (70) | (75) | (1)% |
| U.S. revenue (3) | $3,658 | $3,735 | $3,976 | $4,504 | $5,012 | – |
% of | ||||||
| Ex-U.S. (1, 2) | ||||||
| Ratings | $1,272 | $1,264 | $1,361 | $1,496 | $1,699 | 52% |
| Market Intelligence | 569 | 653 | 719 | 751 | 827 | 25% |
| Platts | 490 | 532 | 563 | 595 | 640 | 19% |
| Indices | 127 | 118 | 146 | 163 | 190 | 6% |
| Interdivision revenue elimination | (53) | (59) | (66) | (67) | (71) | (2)% |
| Ex-U.S. revenue (3) | $2,405 | $2,508 | $2,723 | $2,938 | $3,285 | – |
| Total revenue (3) | $6,063 | $6,258 | $6,699 | $7,442 | $8,297 | – |
Number of Employees
2017 | 2018 | 2019 | 2020 | 2021 | |
| U.S. | 5,200 | 5,400 | 5,500 | 5,550 | 5,300 |
| Ex-U.S. | 15,200 | 15,800 | 17,000 | 17,450 | 17,550 |
| Total employees | 20,400 | 21,200 | 22,500 | 23,000 | 22,850 |
Notes:
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
Total revenue includes Corporate revenue of $15 million related to the acquisition of Kensho in April 2018
Details may not sum to total due to rounding
SPGI: Refer to the SPGI footnotes on page 4 for further details on the Company’s divisions