S&P Global Files Q3 2024 10-Q

TL;DR

SPGI's Q3 10-Q is in - check financials for latest performance.

AI Summary

S&P Global Inc. filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter of 2024 and provides financial details for the nine months ended September 30, 2024, and comparative periods. Key financial data and business segment information are presented, reflecting the company's ongoing operations and financial position.

Why It Matters

This filing provides investors with the latest financial performance and operational details of S&P Global, a key player in financial information and analytics.

Risk Assessment

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

Key Numbers

• 2024 Q3 — Reporting Period (Indicates the quarter for which financial information is provided.)
• 2024-09-30 — As of Date (The specific date up to which financial data is reported.)

Key Players & Entities

• S&P Global Inc. (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• 20241025 (date) — Filing date
• 212-438-1000 (phone_number) — Company 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-20240930.htm (10-Q) — 2462KB
• q32024xex102xmctermsheet.htm (EX-10.2) — 24KB
• spgi-ex15x2024930q3.htm (EX-15) — 10KB
• spgi-ex311x2024930q3.htm (EX-31.1) — 10KB
• spgi-ex312x2024930q3.htm (EX-31.2) — 10KB
• spgi-ex32x2024930q3.htm (EX-32) — 6KB
• image_0a.jpg (GRAPHIC) — 84KB
• spgi-20240930_g1.jpg (GRAPHIC) — 102KB
• spgi-20240930_g2.jpg (GRAPHIC) — 64KB
• spgi-20240930_g3.jpg (GRAPHIC) — 49KB
• 0000064040-24-000178.txt ( ) — 11790KB
• spgi-20240930.xsd (EX-101.SCH) — 55KB
• spgi-20240930_cal.xml (EX-101.CAL) — 85KB
• spgi-20240930_def.xml (EX-101.DEF) — 275KB
• spgi-20240930_lab.xml (EX-101.LAB) — 714KB
• spgi-20240930_pre.xml (EX-101.PRE) — 507KB
• spgi-20240930_htm.xml (XML) — 2239KB

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 nine months ended September 30, 2024 and 2023 4 Consolidated Statements of Comprehensive Income for the three and n ine months ended September 30, 2024 and 2023 5 Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 6 Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 7 Consolidated Statements of Equity for the three and n i ne months ended September 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 62

Signatures

Signatures 63 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 September 30, 2024, the related consolidated statements of income, comprehensive income, and equity for the three and nine-month periods ended September 30, 2024 and 2023, the related consolidated statements of cash flows for the nine-month periods ended September 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 schedules (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

— 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 Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Revenue $ 3,575 $ 3,084 $ 10,616 $ 9,345 Expenses: Operating-related expenses 1,072 995 3,277 3,109 Selling and general expenses 808 741 2,247 2,217 Depreciation 22 22 70 71 Amortization of intangibles 271 260 803 782 Total expenses 2,173 2,018 6,397 6,179 (Gain) loss on dispositions, net ( 21 ) — ( 21 ) 69 Equity in income on unconsolidated subsidiaries ( 11 ) ( 8 ) ( 31 ) ( 33 ) Operating profit 1,434 1,074 4,271 3,130 Other loss (income), net 2 ( 5 ) ( 10 ) ( 5 ) Interest expense, net 72 84 227 258 Income before taxes on income 1,360 995 4,054 2,877 Provision for taxes on income 313 181 854 628 Net income 1,047 814 3,200 2,249 Less: net income attributable to noncontrolling interests ( 76 ) ( 72 ) ( 228 ) ( 202 ) Net income attributable to S&P Global Inc. $ 971 $ 742 $ 2,972 $ 2,047 Earnings per share attributable to S&P Global Inc. common shareholders: Net income: Basic $ 3.12 $ 2.34 $ 9.51 $ 6.41 Diluted $ 3.11 $ 2.33 $ 9.50 $ 6.40 Weighted-average number of common shares outstanding: Basic 311.2 317.5 312.6 319.4 Diluted 311.5 318.0 312.9 319.9 Actual shares outstanding at period end 310.3 316.8 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 Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Net income $ 1,047 $ 814 $ 3,200 $ 2,249 Other comprehensive income: Foreign currency translation adjustments 98 ( 113 ) 20 ( 40 ) Income tax effect 26 ( 6 ) 15 2 124 ( 119 ) 35 ( 38 ) Pension and other postretirement benefit plans 1 — ( 4 ) ( 12 ) Income tax effect — — 2 4 1 — ( 2 ) ( 8 ) Unrealized gain on cash flow hedges — 115 19 115 Income

View Full Filing

View this 10-Q filing on SEC EDGAR