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Segment and Geographic Information | 12 Months Ended
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Dec. 31, 2017
Segment Reporting [Abstract] |
Segment and Geographic Information | Segment and Geographic Information As discussed in Note 1 – Accounting Policies, we have three reportable segments: Ratings, Market and Commodities Intelligence and Indices. Our Chief Executive Officer is our chief operating decision-maker and evaluates performance of our segments and allocates resources based primarily on operating profit. Segment operating profit does not include unallocated expense or interest expense, as these are costs that do not affect the operating results of our segments. We use the same accounting policies for our segments as those described in Note 1 – Accounting Policies. Segment information for the years ended December 31 is as follows:
(in millions) | Revenue |  | Operating Profit
| 2017 | 2016 | 2015 |  | 2017 | 2016 | 2015
Ratings 1 | $ | 2,988 |  |  | $ | 2,535 |  |  | $ | 2,428 |  |  | $ | 1,524 |  |  | $ | 1,262 |  |  | $ | 1,078 |
Market and Commodities Intelligence 2 | 2,452 |  |  | 2,585 |  |  | 2,376 |  |  | 793 |  |  | 1,822 |  |  | 585 |
Indices 3 | 733 |  |  | 639 |  |  | 597 |  |  | 471 |  |  | 412 |  |  | 392 |
Intersegment elimination 4 | (110 | ) |  | (98 | ) |  | (88 | ) |  | — |  |  | — |  |  | — |
Total operating segments | 6,063 |  |  | 5,661 |  |  | 5,313 |  |  | 2,788 |  |  | 3,496 |  |  | 2,055 |
Unallocated expense 5 | — |  |  | — |  |  | — |  |  | (178 | ) |  | (127 | ) |  | (138 | )
Total | $ | 6,063 |  |  | $ | 5,661 |  |  | $ | 5,313 |  |  | $ | 2,610 |  |  | $ | 3,369 |  |  | $ | 1,917 |
1 | Operating profit for the year ended December 31, 2017 includes legal settlement expenses of $55 million and employee severance charges of $25 million. Operating profit for the year ended December 31, 2016 primarily includes a benefit related to net legal settlement insurance recoveries of $10 million and employee severance charges of $6 million. Operating profit for the year ended December 31, 2015 includes net legal settlement expenses of $54 million and employee severance charges of $13 million. Additionally, operating profit includes amortization of intangibles from acquisitions of $4 million for the year ended December 31, 2017 and $5 million for the years ended December 31, 2016 and 2015.
2 | Operating profit for the year ended December 31, 2017 includes non-cash acquisition and disposition-related adjustments of $15 million, employee severance charges of $9 million, a charge to exit a leased facility of $6 million, and an asset-write off of $2 million. Operating profit for the year ended December 31, 2016 includes a $1.1 billion gain from our dispositions, disposition-related costs of $48 million, a technology-related impairment charge of $24 million and an acquisition-related cost of $1 million. Operating profit for the year ended December 31, 2015 includes acquisition-related costs related to the acquisition of SNL of $37 million and costs related to identified operating efficiencies primarily related to employee severance charges of $33 million. Additionally, operating profit includes amortization of intangibles from acquisitions of $87 million, $85 million and $57 million for the years ended December 31, 2017, 2016 and 2015, respectively.
3 | Operating profit includes amortization of intangibles from acquisitions of $7 million, $6 million and $5 million for the years ended December 31, 2017, 2016 and 2015, respectively.
4 | Revenue for Ratings and expenses for Market and Commodities Intelligence include an intersegment royalty charged to Market and Commodities Intelligence for the rights to use and distribute content and data developed by Ratings.
5 | The year ended December 31, 2017 includes a charge to exit leased facilities of $19 million, employee severance charges of $10 million and a pension related charge of $8 million. The year ended December 31, 2016 includes $3 million from a disposition-related reserve release. The year ended December 31, 2015 includes a gain of $11 million related to the sale of our interest in a legacy McGraw Hill Construction investment and costs related to identified operating efficiencies primarily related to employee severance charges of $10 million.
(in millions) | Depreciation & Amortization |  | Capital Expenditures
| 2017 | 2016 | 2015 |  | 2017 | 2016 | 2015
Ratings | $ | 34 |  |  | $ | 34 |  |  | $ | 43 |  |  | $ | 45 |  |  | $ | 42 |  |  | $ | 48 |
Market and Commodities Intelligence | 128 |  |  | 131 |  |  | 99 |  |  | 52 |  |  | 57 |  |  | 78 |
Indices | 9 |  |  | 8 |  |  | 8 |  |  | 3 |  |  | 3 |  |  | 4 |
Total operating segments | 171 |  |  | 173 |  |  | 150 |  |  | 100 |  |  | 102 |  |  | 130 |
Corporate | 9 |  |  | 8 |  |  | 7 |  |  | 23 |  |  | 13 |  |  | 9 |
Total | $ | 180 |  |  | $ | 181 |  |  | $ | 157 |  |  | $ | 123 |  |  | $ | 115 |  |  | $ | 139 |
Segment information as of December 31 is as follows:
(in millions) | Total Assets
| 2017 |  | 2016
Ratings | $ | 788 |  |  | $ | 612 |
Market and Commodities Intelligence | 4,172 |  |  | 4,104 |
Indices | 1,270 |  |  | 1,247 |
Total operating segments | 6,230 |  |  | 5,963 |
Corporate 1 | 3,190 |  |  | 2,699 |
Assets held for sale 2 | 5 |  |  | 7 |
Total | $ | 9,425 |  |  | $ | 8,669 |
1 | Corporate assets consist principally of cash and cash equivalents, assets for pension benefits, deferred income taxes and leasehold improvements related to subleased areas.
2 | Includes East Windsor, New Jersey facility and QuantHouse as of December 31, 2017 and 2016, respectively.
We do not have operations in any foreign country that represent more than 7% of our consolidated revenue. Transfers between geographic areas are recorded at agreed upon prices and intercompany revenue and profit are eliminated. No single customer accounted for more than 10% of our consolidated revenue. The following provides revenue and long-lived assets by geographic region:
(in millions) | Revenue |  | Long-lived Assets
| Year ended December 31, |  | December 31,
| 2017 |  | 2016 |  | 2015 |  | 2017 |  | 2016
U.S. | $ | 3,658 |  |  | $ | 3,461 |  |  | $ | 3,202 |  |  | $ | 4,285 |  |  | $ | 4,335 |
European region | 1,473 |  |  | 1,330 |  |  | 1,265 |  |  | 346 |  |  | 341 |
Asia | 594 |  |  | 575 |  |  | 566 |  |  | 54 |  |  | 58 |
Rest of the world | 338 |  |  | 295 |  |  | 280 |  |  | 49 |  |  | 46 |
Total | $ | 6,063 |  |  | $ | 5,661 |  |  | $ | 5,313 |  |  | $ | 4,734 |  |  | $ | 4,780 |
| Revenue |  | Long-lived Assets
| Year ended December 31, |  | December 31,
| 2017 |  | 2016 |  | 2015 |  | 2017 |  | 2016
U.S. | 60 | % |  | 61 | % |  | 60 | % |  | 91 | % |  | 91 | %
European region | 24 |  |  | 24 |  |  | 24 |  |  | 7 |  |  | 7 |
Asia | 10 |  |  | 10 |  |  | 11 |  |  | 1 |  |  | 1 |
Rest of the world | 6 |  |  | 5 |  |  | 5 |  |  | 1 |  |  | 1 |
Total | 100 | % |  | 100 | % |  | 100 | % |  | 100 | % |  | 100 | %
See Note 2 – Acquisitions and Divestitures and Note 11 – Restructuring, for actions that impacted the segment operating results.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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