v3.25.1

SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Segment Profitability and Reconciliation to Net Income

The following table presents operating revenues, Adjusted EBITDA expenses and segment profitability and a reconciliation to net income for the periods indicated:

						Three Months Ended March 31,
(in thousands)						2025						2024
Operating revenues
Index						$	421,743					$	373,872
Analytics						172,185						163,966
Sustainability and Climate						84,619						77,884
Total reportable segment operating revenues						678,547						615,722
All Other - Private Assets						67,279						64,243
Total operating revenues						745,826						679,965
Adjusted EBITDA expenses
Index						110,172						96,112
Analytics						96,155						91,754
Sustainability and Climate						60,798						56,793
Total reportable segment Adjusted EBITDA expense						267,125						244,659
Adjusted EBITDA
Index Adjusted EBITDA						311,571						277,760
Analytics Adjusted EBITDA						76,030						72,212
Sustainability and Climate Adjusted EBITDA						23,821						21,091
Total reportable segment profitability						411,422						371,063
Plus:
All Other - Private Assets(1)						14,219						12,510
Less:
Amortization of intangible assets						43,872						38,604
Depreciation and amortization of property, equipment and    leasehold improvements						4,746						4,081
Acquisition-related integration and transaction costs(2)						—						1,506
Operating income						377,023						339,382
Other expense (income), net						45,953						43,489
Income before provision for income taxes						331,070						295,893
Provision for income taxes						42,470						39,939
Net income						$	288,600					$	255,954

___________________________

(1)Revenue less segment expenses from segments below the segment reporting thresholds are attributable to Private Capital Solutions and Real Assets operating segments. Private Capital Solutions and Real Assets operating segments do not meet any of the segment reporting thresholds for determining reportable segments.

(2)Represents transaction expenses and other costs directly related to the acquisition and integration of acquired businesses, including professional fees, severance expenses, regulatory filing fees and other costs, in each case that are incurred no later than 12 months after the close of the relevant acquisition.

Operating Revenues by Geographic Area

Operating revenues by geography are primarily based on the shipping address of the ultimate customer utilizing the product. The following table presents operating revenues by geographic area for the periods indicated:

						Three Months Ended March 31,
(in thousands)						2025						2024
Operating revenues
Americas:
United States						$	302,374					$	280,675
Other						33,726						30,358
Total Americas						336,100						311,033
Europe, the Middle East and Africa (“EMEA”):
United Kingdom						123,714						113,294
Other						169,103						151,684
Total EMEA						292,817						264,978
Asia & Australia:
Japan						30,202						26,573
Other						86,707						77,381
Total Asia & Australia						116,909						103,954
Total						$	745,826					$	679,965

Long-Lived Assets by Geographic Area

Long-lived assets consist of property, equipment and leasehold improvements, right of use assets and internally developed capitalized software, net of accumulated depreciation and amortization. The following table presents long-lived assets by geographic area on the dates indicated:

						As of
						March 31,						December 31,
(in thousands)						2025						2024
Long-lived assets
Americas:
United States						$	269,556					$	253,072
Other						7,305						7,558
Total Americas						276,861						260,630
EMEA:
United Kingdom						18,477						17,632
Other						23,360						22,157
Total EMEA						41,837						39,789
Asia & Australia:
Japan						832						874
Other						27,062						27,601
Total Asia & Australia						27,894						28,475
Total						$	346,592					$	328,894

X

- Definition

Tabular disclosure of the names of foreign countries in which material long-lived assets other than financial instruments, long-term customer relationships of a financial institution, mortgage and other servicing rights, deferred policy acquisition costs, and deferred tax assets are located, and amount of such long-lived assets located in that country or foreign geographic area.

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Tabular disclosure of the names of foreign countries from which revenue is material and the amount of revenue from external customers attributed to those countries. An entity may also provide subtotals of geographic information about groups of countries.

+ References

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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