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Acquisitions and Divestitures (Tables) | 12 Months Ended
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Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract] |
Schedule of Liabilities Assumed In Conjunction With Acquisitions Businesses | The estimated fair value of the consideration transferred for IHS Markit was approximately $43.5 billion as of the merger date, which consisted of the following:
(in millions, except for share and per share data) | February 28, 2022
Number of shares IHS Markit issued and outstanding* | 400,988,207 |
Exchange ratio | 0.2838
Number of S&P Global common stock transferred to IHS Markit stockholders | 113,800,453 |
Closing price per share of S&P Global common stock** | $ | 380.89 |
Fair value of S&P Global common stock transferred IHS Markit stockholders | $ | 43,345 |
Fair value of S&P Global replacement equity awards attributable to pre-combination service | $ | 191 |
Total equity consideration | $ | 43,536 |
*Excludes 25,219,470 IHS Markit shares held by the Markit Group Holdings Limited Employee Benefit Trust (“EBT”). The shares held by the EBT were converted in the merger into S&P Global shares at the exchange ratio of 0.2838 and will continue to be held by the trustee in the EBT. **Based on S&P Global's closing stock price on February 25, 2022. Liabilities assumed in conjunction with our acquisitions are as follows:
(in millions) | Year ended December 31,
| 2022 |  | 2021 |  | 2020
Fair value of assets acquired | $ | 54,944 |  |  | $ | 110 |  |  | $ | 219 |
Equity transferred | (43,536) |  |  | — |  |  | — |
Cash acquired (paid), net | 210 |  |  | (99) |  |  | (201) |
Liabilities assumed | $ | 11,618 |  |  | $ | 11 |  |  | $ | 18 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The preliminary allocation of purchase price recorded for IHS Markit is as follows:
(in millions) | February 28, 2022
Assets acquired |
Cash and cash equivalents | $ | 310 |
Accounts receivable, net | 968 |
Prepaid and other current assets | 224 |
Assets of businesses held for sale | 1,519 |
Property and equipment | 118 |
Right of use assets | 240 |
Goodwill | 31,451 |
Other intangible assets | 18,620 |
Equity investments in unconsolidated subsidiaries | 1,644 |
Other non-current assets | 54 |
Total assets acquired | $ | 55,148 |
Liabilities assumed |
Accounts payable | $ | 174 |
Accrued compensation | 90 |
Short-term debt | 968 |
Unearned revenue | 1,053 |
Other current liabilities | 579 |
Liabilities of businesses held for sale | 72 |
Long-term debt | 4,191 |
Lease liabilities - non-current | 231 |
Deferred tax liability - non-current | 4,198 |
Other non-current liabilities | 56 |
Total liabilities assumed | $ | 11,612 |
Total consideration transferred | $ | 43,536 |
Schedule of Finite-Lived Intangible Assets | The following table sets forth preliminary estimated fair values of the components of the identifiable intangible assets acquired and their estimated useful lives:
(in millions) | Fair Value | Weighted Average Useful Lives
Customer relationships | $ | 13,596 |  | 25 years
Trade names and trademarks | 1,469 |  | 14 years
Developed technology | 1,043 |  | 10 years
Databases | 2,512 |  | 12 years
Total Identified Intangible Assets | $ | 18,620 |  | 21 years
Business Acquisition, Pro Forma Information | The pro forma results do not include anticipated synergies or other expected benefits of the acquisition.
| Year ended December 31,
(in millions) | 2022 | 2021
Revenue | $ | 11,842 |  | $ | 12,382 |
Net income | $ | 3,533 |  | $ | 4,137 |
Schedule of Key Components of Assets and Liabilities Held for Sale | The components of assets and liabilities held for sale in the consolidated balance sheet consist of the following:
(in millions) | Year ended December 31,
| 2022 1 | 2021 2
Accounts Receivable, net | $ | 88 |  | $ | 59 |
Goodwill | 437 |  | 255 |
Other intangible assets, net | 697 |  | — |
Other assets | 76 |  | 7 |
Assets of businesses held for sale | $ | 1,298 |  | $ | 321 |
Accounts payable and accrued expenses | $ | 59 |  | $ | 11 |
Deferred tax liability | 27 |  | — |
Unearned revenue | 148 |  | 138 |
Liabilities of businesses held for sale | $ | 234 |  | $ | 149 |
1 Assets and liabilities held for sale as of December 31, 2022 relate to Engineering Solutions. 2 Assets and liabilities held for sale as of December 31, 2021 relate to CGS and LCD. The operating profit of our businesses that were held for sale or disposed of for the years ending December 31, 2022, 2021, and 2020 is as follows:
(in millions) | Year ended December 31,
| 2022 |  | 2021 |  | 2020
Operating profit 1 | $ | 71 |  |  | $ | 172 |  |  | $ | 162 |
1 The operating profit presented includes the revenue and recurring direct expenses associated with businesses held for sale. The year ended December 31, 2022 excludes pre-tax gains related to the sale LCD and a related family of leveraged loan indices of $505 million and $52 million, respectively. The year ended December 31, 2022 also excludes a a pre-tax gain of $1.3 billion related to the sale of CGS. The year ended December 31, 2021 excludes a pre-tax gain on the sale of SPIAS of $3 million. The year ended December 31, 2020 excludes a pre-tax gain on the sale of the IR webhosting business of $11 million.

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- Definition Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
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