S&P Global Files Q2 2024 10-Q Report

TL;DR

S&P Global's Q2 2024 10-Q is in. Check financials.

AI Summary

S&P Global Inc. filed its 10-Q for the period ending June 30, 2024. The filing covers the second quarter and the first half of the fiscal year. Key financial data and operational details for the company are presented in this report.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational updates for S&P Global, crucial for understanding the company's trajectory in the financial information sector.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Numbers

• 2024-06-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 2024-07-30 — Filing Date (The date S&P Global officially submitted this 10-Q to the SEC.)
• 2024-04-01 — Q2 2024 Start Date (Beginning of the second fiscal quarter reported in this filing.)
• 2023-06-30 — Prior Year Q2 End Date (End date for the comparable second quarter of the previous year.)
• 2023-12-31 — Prior Year Fiscal Year End (End date of the previous fiscal year, providing context for year-over-year comparisons.)

Key Players & Entities

• S&P Global Inc. (company) — Filer of the 10-Q report
• 20240630 (date) — End of the reporting period
• 20240730 (date) — Date the report was filed
• 55 WATER STREET (address) — Company's business and mailing address
• NEW YORK (location) — City of the company's business and mailing address
• 10041 (zip_code) — Zip code of the company's business and mailing address
• 212-438-1000 (phone_number) — Company's business phone number

FAQ

Key Financial Figures

• $1.00 — ich registered Common stock (par value $1.00 per share) SPGI New York Stock Exchange

Filing Documents

• spgi-20240630.htm (10-Q) — 2449KB
• exhibit101-spgixspecialadv.htm (EX-10.1) — 44KB
• spgi-ex15x2024630q2.htm (EX-15) — 10KB
• spgi-ex311x2024630q2.htm (EX-31.1) — 10KB
• spgi-ex312x2024630q2.htm (EX-31.2) — 10KB
• spgi-ex32x2024630q2.htm (EX-32) — 6KB
• spgi-20240630_g1.jpg (GRAPHIC) — 102KB
• spgi-20240630_g2.jpg (GRAPHIC) — 64KB
• spgi-20240630_g3.jpg (GRAPHIC) — 48KB
• 0000064040-24-000150.txt ( ) — 11501KB
• spgi-20240630.xsd (EX-101.SCH) — 54KB
• spgi-20240630_cal.xml (EX-101.CAL) — 84KB
• spgi-20240630_def.xml (EX-101.DEF) — 269KB
• spgi-20240630_lab.xml (EX-101.LAB) — 703KB
• spgi-20240630_pre.xml (EX-101.PRE) — 501KB
• spgi-20240630_htm.xml (XML) — 2201KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) Report of Independent Registered Public Accounting Firm 3 Consolidated Statements of Income for the three and six months ended June 30 , 2024 and 2023 4 Consolidated Statements of Comprehensive Income for the three and six months ended June 30 , 2024 and 2023 5 Consolidated Balance Sheets as of June 30 , 2024 and December 31, 2023 6 Consolidated Statements of Cash Flows for the six months ended June 30 , 2024 and 2023 7 Consolidated Statements of Equity for the three and six months ended June 30 , 2024 and 2023 8 Notes to the Consolidated Financial Statements 10

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 30

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 59

Controls and Procedures

Item 4. Controls and Procedures 59

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 60

Risk Factors

Item 1A. Risk Factors 60

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 60

Other Information

Item 5. Other Information 60

Exhibits

Item 6. Exhibits 63

Signatures

Signatures 64 2 Report of Independent Registered Public Accounting Firm To the Shareholders and Board of Directors of S&P Global Inc. Results of Review of Interim Financial Statements We have reviewed the accompanying consolidated balance sheet of S&P Global, Inc. and subsidiaries (the Company) as of June 30, 2024, the related consolidated statements of income, comprehensive income, and equity for the three- and six-month periods ended June 30, 2024 and 2023, the related consolidated statements of cash flows for the six-month periods ended June 30, 2024 and 2023, and the related notes (collectively referred to as the "consolidated interim financial statements"). Based on our reviews, we are not aware of any material modifications that should be made to the consolidated interim financial statements for them to be in conformity with U.S. generally accepted accounting principles. We have previously audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated balance sheet of the Company as of December 31, 2023, the related consolidated statements of income, comprehensive income, equity and cash flows for the year then ended, and the related notes and schedule (not presented herein); and in our report dated February 8, 2024, we expressed an unqualified audit opinion on those consolidated financial statements. In our opinion, the information set forth in the accompanying consolidated balance sheet as of December 31, 2023, is fairly stated, in all material respects, in relation to the consolidated balance sheet from which it has been derived. Basis for Review Results These financial statements are the responsibility of the Company's management. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the SEC and the PCAOB. We c

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements S&P Global Inc. Consolidated Statements of Income (Unaudited) (in millions, except per share amounts) Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Revenue $ 3,549 $ 3,101 $ 7,040 $ 6,261 Expenses: Operating-related expenses 1,085 1,026 2,204 2,114 Selling and general expenses 734 771 1,439 1,476 Depreciation 25 24 48 49 Amortization of intangibles 266 261 531 522 Total expenses 2,110 2,082 4,222 4,161 Loss on dispositions, net — 119 — 69 Equity in income on unconsolidated subsidiaries ( 13 ) ( 11 ) ( 19 ) ( 25 ) Operating profit 1,452 911 2,837 2,056 Other income, net ( 3 ) ( 11 ) ( 13 ) — Interest expense, net 77 88 156 174 Income before taxes on income 1,378 834 2,694 1,882 Provision for taxes on income 293 259 540 447 Net income 1,085 575 2,154 1,435 Less: net income attributable to noncontrolling interests ( 74 ) ( 64 ) ( 152 ) ( 130 ) Net income attributable to S&P Global Inc. $ 1,011 $ 511 $ 2,002 $ 1,305 Earnings per share attributable to S&P Global Inc. common shareholders: Net income: Basic $ 3.23 $ 1.60 $ 6.39 $ 4.08 Diluted $ 3.23 $ 1.60 $ 6.38 $ 4.07 Weighted-average number of common shares outstanding: Basic 313.0 319.3 313.3 320.3 Diluted 313.2 319.8 313.6 320.9 Actual shares outstanding at period end 313.0 318.2 See accompanying notes to the unaudited consolidated financial statements. 4 S&P Global Inc. Consolidated Statements of Comprehensive Income (Unaudited) (in millions) Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Net income $ 1,085 $ 575 $ 2,154 $ 1,435 Other comprehensive income: Foreign currency translation adjustments ( 6 ) 30 ( 78 ) 73 Income tax effect ( 4 ) 5 ( 11 ) 8 ( 10 ) 35 ( 89 ) 81 Pension and other postretirement benefit plans ( 5 ) ( 12 ) ( 5 ) ( 12 ) Income tax effect 2 3 2 4 ( 3 ) ( 9 ) ( 3 ) ( 8 ) Unrealized gain on cash flow hedges — 28 20 — Income tax effect — ( 6 ) ( 4 ) —

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View this 10-Q filing on SEC EDGAR