S&P Global Inc. (SPGI)

S&P Global Inc. is a provider of credit ratings, benchmarks, analytics and workflow solutions serving the global capital, commodity, automotive and engineering markets, with customers including asset managers, investment banks, commercial banks, insurance companies, exchanges, trading firms, issuers, energy and commodity producers/traders, automotive OEMs and dealerships, and engineers and architects; the company was incorporated in New York in 1925 and, following its February 2022 merger with IHS Markit, operates through six reportable segments: Market Intelligence, Ratings, Commodity Insights, Mobility, Indices and Engineering Solutions (announced for divestiture to KKR-affiliated Allium Buyer LLC for $975 million, expected to close mid-2023). Market Intelligence delivers multi-asset-class data, analytics and workflow tools (Desktop/Capital IQ, Data & Advisory Solutions, Enterprise Solutions, Credit & Risk Solutions) to investment managers, banks, private equity, insurers, corporations and government agencies. Ratings is a leading independent provider of credit ratings, research and analytics on corporate, government and structured finance debt issuers, generating transaction revenue (new issuance and bank loan ratings) and non-transaction revenue (surveillance, relationship-based fees, CRISIL analytics) for investors, issuers, banks and asset managers globally.

Commodity Insights supplies price assessments, benchmarks, data, analytics, software and advisory/transactional services (consulting, events, trading platforms) to energy, petrochemical, metals & steel, and agriculture producers, traders and intermediaries. Mobility, acquired via the IHS Markit merger, provides data, forecasts, software and advisory services covering the full automotive value chain—OEMs, suppliers, dealers, consumers and finance/insurance firms—through subscription and non-subscription offerings. Indices maintains proprietary index and valuation benchmarks (e.g., for ETFs, mutual funds, derivatives and structured products) for investment advisors, wealth managers and institutional investors, earning asset-linked fees, royalties and subscription revenue.

Engineering Solutions, also gained through the IHS Markit merger, offers engineering standards, technical reference content and knowledge-discovery software (including Engineering Workbench and Goldfire) to technical professionals, generating subscription and non-subscription revenue, though this business is pending divestiture. As of December 31, 2022, the company employed approximately 39,950 people worldwide, with the largest concentrations in Asia, followed by the U.S. and Canada, Europe/Middle East/Africa, and Latin America, and emphasizes human capital initiatives spanning diversity, equity and inclusion, learning and development, competitive compensation, hybrid work and employee well-being programs.