SPGI · 10-Q · 2026Q3 · Full report

Income Tax Rate Changes

S&P Global Inc. · 2026-10-28 · Importance 30 · Surprise 40 · In source text

The effective income tax rate was 24.9% for the third quarter of 2026, compared with 21.1% in the third quarter of 2025. For the first nine months, the rate was 22.7% in 2026 versus 21.5% in 2025. The filing attributes the higher 2026 rates primarily to discrete adjustments, including tax charges on divestitures. Pillar Two taxes enacted in jurisdictions where S&P Global operates were reflected in results and did not have a material impact on the consolidated financial statements.

Key facts

• S&P Global Inc. reported an effective income tax rate of 24.9% for the three months and 22.7% for the nine months ended September 30, 2026, compared with 21.1% and 21.5%, respectively, in 2025; higher 2026 rates were primarily due to discrete adjustments including a tax charge on divestitures. source
• On January 5, 2026, the OECD issued guidance outlining a framework under which U.S.-parented groups may be excluded from its global minimum tax rules; local adoption timing and manner may vary, and S&P Global is monitoring and evaluating the potential impact. source
• On January 5, 2026, the OECD issued guidance outlining a framework under which U.S.-parented groups may be excluded from OECD global minimum-tax rules; jurisdictional adoption timing and manner may vary, and S&P Global is monitoring the guidance and evaluating its impact. source
• The effective tax rates were 24.9% and 22.7% for the three and nine months ended September 30, 2026, versus 21.1% and 21.5% for the corresponding 2025 periods. source
• Higher 2026 effective tax rates primarily reflected discrete adjustments, including tax charges on divestitures. source
• Pillar Two provides for a 15% global minimum tax, implemented through local legislation in participating jurisdictions; enacted Pillar Two taxes did not materially affect S&P Global's consolidated financial statements. source
• Pillar Two establishes a 15% global minimum tax; enacted Pillar Two taxes in jurisdictions where S&P Global operates were reflected in results and did not materially affect its consolidated financial statements. source
• S&P Global Inc. stated that the effects of Pillar Two taxes enacted in jurisdictions where it operates were reflected in results and did not materially affect consolidated financial statements; the framework provides for a 15% global minimum tax. source

Impact estimates