66
Revenue by Type* U.S. GAAP

Total Company (1, 4, 5, 6, 7, 8)

(dollars in millions)

38%
23%
28%
7%
3%
42%
22%
26%
7%
3%
40%
22%
26%
8%
3%
43%
23%
22%
9%
3%
42%
21%
24%
9%
3%
15
'16
'17
'18
'19
Subscription
$2,029
$2,364
$2,454
$2,682
$2,843
Non-transaction
1,233
1,259
1,363
1,408
1,401
Non-subscription/ transaction
1,511
1,460
1,574
1,401
1,632
Asset-linked fees
384
400
484
542
623
Sales usage-based royalties
156
178
188
225
200
Total revenue
$5,313
$5,661
$6,063
$6,258
$6,699

Ratings (1)

(dollars in millions)

54%
46%
54%
46%
49%
51%
53%
47%
49%
51%
'15
'16
'17
'18
'19
Non-transaction
$1,321
$1,357
$1,473
$1,533
$1,529
Total revenue
$2,428
$2,535
$2,988
$2,883
$3,106

Market Intelligence (1, 4)

(dollars in millions)

90%
9%
1%
93%
6%
1%
96%
3%
1%
97%
2%
1%
97%
2%
1%
'15
'16
'17
'18
'19
Subscription
$1,270
$1,543
$1,614
$1,773
$1,904
Non-subscription
118
99
46
40
45
Asset-linked fees
17
19
23
20
10
Total revenue
$1,405
$1,661
$1,683
$1,833
$1,959

Platts(5) (includes J.D. Power through 9/2016)

(dollars in millions)

66%
5%
29%
74%
6%
20%
91%
7%
2%
92%
7%
1%
92%
7%
1%
'15
'16
'17
'18
'19
Subscription
$641
$689
$704
$750
$774
Sales usage-based royalties
44
53
57
54
60
Non-subscription
286
183
13
11
10
Total revenue
$971
$925
$774
$815
$844

Indices

(dollars in millions)

61%
19%
20%
60%
20%
21%
63%
18%
19%
62%
21%
17%
67%
15%
18%
'15
'16
'17
'18
'19
Asset-linked fees
$367
$381
$461
$522
$613
Sales usage-based fees
112
125
131
171
140
Subscription
118
132
136
144
165
Total revenue
$597
$638
$728
$837
$918

73% of S&P Global’s 2019 revenue was tied to subscription revenue, non-transaction revenue, and asset-linked fees that are ongoing in nature

Notes:

See the following pages for description of each division’s subscription revenue, non-subscription/transaction revenue, non-transaction revenue, asset-linked fees, and sales usage-based royalties:
Page 16:  Ratings
Page 32:  Market Intelligence
Page 38:  Platts
Page 48:  Indices

*

SPGI: Refer to the SPGI footnotes on page 4 for further details on the Company’s divisions