| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||
4,829 | 4,443 | 4,204 | 3,604 | 3,484 | 3,334 | 2,972 | 2,730 | 2,280 | 2,032 | 1,797 | 1,755 | 2,259 |
Expenses | ||||||||||||
Operating | ||||||||||||
1,387 | 1,246 | 1,216 | 1,026 | 976 | 930 | 822 | 795 | 683 | 604 | 532 | 493 | 584 |
Selling, general and administrative | ||||||||||||
1,167 | 1,080 | 986 | 936 | 921 | 869 | 822 | 752 | 629 | 588 | 495 | 441 | 451 |
Restructuring | ||||||||||||
60 | 49 | 0 | 12 | - | - | - | - | - | 0 | 17 | -2 | 50 |
Goodwill impairment charge | ||||||||||||
- | - | - | - | - | - | - | 12 | 0 | - | - | - | - |
Depreciation and amortization | ||||||||||||
200 | 192 | 158 | 126 | 113 | 95 | 93 | 93 | 79 | 66 | 64 | 75 | 42 |
Litigation settlement | ||||||||||||
- | - | - | 863 | - | - | - | - | - | - | - | - | - |
Acquisition-Related Expenses | ||||||||||||
3 | 8 | 23 | - | - | - | - | - | - | - | - | - | - |
Loss pursuant to the divestiture of MAKS | ||||||||||||
-14 | 0 | 0 | - | - | - | - | - | - | - | - | - | - |
Total expenses | ||||||||||||
2,831 | 2,575 | 2,383 | 2,965 | 2,011 | 1,895 | 1,737 | 1,652 | 1,392 | 1,259 | 1,109 | 1,007 | 1,128 |
Operating income | ||||||||||||
1,998 | 1,868 | 1,821 | 638 | 1,473 | 1,439 | 1,234 | 1,077 | 888 | 772 | 687 | 748 | 1,131 |
Non-operating (expense) income, net | ||||||||||||
Interest expense, net | ||||||||||||
-208 | -215 | -209 | -137 | -115 | -116 | -91 | -63 | -62 | -52 | -33 | -52 | -24 |
Other non-operating income, net | ||||||||||||
20 | 19 | 4 | 57 | 21 | 35 | 26 | 10 | 13 | -5 | -7 | 33 | 15 |
Purchase Price Hedge Gain | ||||||||||||
0 | 0 | 111 | - | - | - | - | - | - | - | - | - | - |
CCXI Gain | ||||||||||||
0 | 0 | 60 | - | - | - | - | - | - | - | - | - | - |
ICRA Gain | ||||||||||||
- | - | - | - | - | 102 | - | 0 | - | - | - | - | - |
Total non-operating expense, net | ||||||||||||
-188 | -196 | -34 | -80 | -93 | 21 | -65 | -53 | -48 | -58 | -41 | -18 | -9 |
Income before provisions for income taxes | ||||||||||||
1,810 | 1,672 | 1,787 | 558 | 1,379 | 1,461 | 1,169 | 1,024 | 839 | 714 | 646 | 729 | 1,122 |
Provision for income taxes | ||||||||||||
381 | 352 | 779 | 282 | 430 | 455 | 353 | 324 | 261 | 201 | 239 | 268 | 415 |
Net income | ||||||||||||
1,429 | 1,320 | 1,008 | 275 | 949 | 1,006 | 815 | 699 | 578 | 513 | 407 | 461 | 706 |
Less: Net (loss) income attributable to noncontrolling interests | ||||||||||||
7 | 10 | 7 | 9 | 8 | 17 | 11 | 9 | 6 | 5 | 5 | 4 | 5 |
Net income attributable to Moody's | ||||||||||||
1,422 | 1,310 | 1,001 | 266 | 941 | 988 | 804 | 690 | 571 | 507 | 402 | 457 | 701 |
Earnings per share attributable to Moody's common shareholders | ||||||||||||
Basic (in usd per share) | ||||||||||||
7.51 | 6.84 | 5.24 | 1.38 | 4.70 | 4.69 | 3.67 | 3.09 | 2.52 | 2.16 | 1.70 | 1.89 | 2.63 |
Diluted (in usd per share) | ||||||||||||
7.42 | 6.74 | 5.15 | 1.36 | 4.63 | 4.61 | 3.60 | 3.05 | 2.49 | 2.15 | 1.69 | 1.87 | 2.58 |
Weighted average number of shares outstanding | ||||||||||||
Basic (in shares) | ||||||||||||
189 | 191 | 191 | 192 | 200 | 210 | 219 | 223 | 226 | 235 | 236 | 242 | 266 |
Diluted (in shares) | ||||||||||||
191 | 194 | 194 | 195 | 203 | 214 | 223 | 226 | 229 | 236 | 237 | 245 | 272 |