SPGI · 10-Q · 2026Q2 · Full report

Liquidity and Cash Position

S&P Global Inc. · 2026-07-28 · Importance 75 · Surprise 64 · From source text

Cash, cash equivalents and restricted cash totaled $4.141 billion as of June 30, 2026, an increase of $2.396 billion from December 31, 2025. Cash from operations, cash on hand and credit-facility availability are expected to cover operating, investment, acquisition, repurchase, dividend, debt repayment and infrastructure needs. S&P Global had $825 million of commercial paper outstanding at June 30, 2026, compared with $715 million at December 31, 2025. The company has $2.0 billion of commercial-paper capacity supported by a $2.0 billion credit facility maturing December 17, 2029, and its indebtedness-to-cash-flow covenant has never exceeded the 4-to-1 limit.

Key facts

• S&P Global has the ability to borrow $2.0 billion through its commercial paper program supported by a $2.0 billion five-year credit agreement that terminates on December 17, 2029.
• Cash and cash equivalents as of June 30, 2026: $4,134 million (Consolidated Balance Sheet).
• Cash, cash equivalents, and restricted cash at end of period (six months ended June 30, 2026): $4,141 million (Consolidated Statements of Cash Flows).
• Accounts receivable, net as of June 30, 2026: $3,438 million.
• Cash, cash equivalents, and restricted cash were $4,141 million as of June 30, 2026, an increase of $2,396 million from December 31, 2025.
• Intercompany payables to the Non-Obligor Group were $19,758 million as of June 30, 2026 and $18,077 million as of December 31, 2025.
• Total reportable segments assets were $56,476 million as of June 30, 2026 and $57,266 million as of December 31, 2025
• Total consolidated assets were $62,906 million as of June 30, 2026 and $61,200 million as of December 31, 2025

Impact estimates