Related Party Transactions and Parent Company Investment |
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| Related Party Transactions and Parent Company Investment | 9. Related Party Transactions and Parent Company Investment Historically, the Company engaged in several transactions with S&P Global. The following table summarizes the composition and amounts of these transactions with S&P Global.
(1)Data sharing expenses are included in Operating-related expenses within the condensed combined statements of income. (2)Corporate allocations are included in Selling and general expenses within the condensed combined statements of income. The three and six months ended June 30, 2026 included $15 million and $22 million, respectively, of transaction costs, and $2 million of severance and other employee related costs in both periods in 2026. Data Sharing Revenue and Expenses The Company participates in data sharing arrangements with S&P Global, in which customer data is collected, synthesized, and distributed throughout the S&P Global organization. Historically, the Company has recorded revenue and expenses related to these arrangements that were eliminated in consolidation by S&P Global, as such transactions were intercompany in nature. Such amounts have been reinstated for purposes of the condensed combined financial statements and treated as related-party in nature. Corporate Allocations The Company has historically operated as part of S&P Global and not as a stand-alone company. Certain shared costs have been allocated to the Company by S&P Global and are reflected as expenses in these financial statements. The condensed combined statements of income of the Company reflect allocations of general corporate expenses from S&P Global, certain of which were not historically allocated to the Company, including, but not limited to, executive management, finance, legal, information technology, human resources, corporate initiatives, and other shared services. Allocations made for such shared services based on direct usage when identifiable, and otherwise on a pro-rata basis of combined revenue or headcount and other measures, were $36 million and $24 million for the three months ended June 30, 2026 and 2025, respectively, and $64 million and $46 million for the six months ended June 30, 2026 and 2025, respectively, within Selling and general expenses in the condensed combined statements of income. Management considers these allocations to be a reasonable representation of the utilization of services by or the benefits provided to the Company. Historically, a portion of these allocated corporate expenses between S&P Global and the Company was settled in cash through transfer pricing arrangements. For any balances that were historically cash-settled, the balances are reflected as Due from related parties, current and Due to related parties, current in the condensed combined balance sheets, while any balances that were historically not settled in cash are reflected as a component of Parent company investment in the condensed combined balance sheets. During the three and six months ended June 30, 2026, Mobility Global recorded $36 million and $57 million, respectively, of transaction costs related to the stand-up of Mobility Global as a stand-alone entity incurred prior to the Separation, of which approximately $15 million and $22 million, respectively, was allocated to the Company from S&P Global. For both the three and six months ended June 30, 2025, Mobility Global recorded $2 million of transactions related to the stand-up of Mobility Global as a stand-alone entity incurred prior to the Separation, which was allocated to the Company from S&P Global. These transaction costs correspond to costs incurred by S&P Global that are directly attributable to Mobility Global, such as employee retention-related costs and costs to establish certain stand-alone functions. Canada Carfax Loan On October 1, 2018, Carfax Canada ULC (“Carfax Canada”), a subsidiary of the Company, entered into a loan agreement with IHS Canada Market ULC (“IHS Canada”), a subsidiary of S&P Global, under which IHS Canada granted Carfax Canada a loan bearing interest at a rate of 6.0% per annum with a principal amount of CAD$403 million (“Canada Carfax Loan”). Canada Carfax Loan matures on October 5, 2027, and is payable in full with accrued interest at maturity. As of December 31, 2025, the Company had an outstanding loan balance payable to S&P Global of $230 million, inclusive of accrued interest, which was reflected in Due to related parties — non-current in the condensed combined balance sheets. The Company recorded related party interest expense of $7 million and $7 million related to the Canada Carfax Loan for the six months ended June 30, 2026 and 2025, respectively. No voluntary prepayments on the principal balance of the Canada Carfax Loan were made during the six months ended June 30, 2026. During the six months ended June 30, 2025, the Company made voluntary prepayments on the principal balance of $18 million. During the six months ended June 30, 2026 and 2025, the Company made payments of interest of $7 million and $7 million in each period. In connection with the Restructuring Transactions, and in anticipation of the Separation, on June 25, 2026 S&P Global contributed the Canada Carfax Loan to a subsidiary of the Company, and as a result the Company eliminated the Canada Carfax Loan and related accrued interest balances from the condensed combined balance sheets as of June 30, 2026 in consolidation. Parent Company Investment Certain significant balances and transactions between the Company and S&P Global and its subsidiaries, which include allocations of corporate general and administrative expenses, share-based compensation and other historical intercompany activities, are recorded as components of Parent company investment, except for the transactions noted above related to historically cash-settled arrangements between the Company and S&P Global. The changes in Parent company investment also includes financing activities for capital transfers, cash sweeps, and other treasury services as described above. The components of Parent company investment are as follows:
After the Separation on July 1, 2026, Parent company investment will decrease to zero and will instead be recorded as Common stock and Additional paid-in capital, respectively, on the condensed combined balance sheets as of September 30, 2026 based on 294,821,320 shares of common stock outstanding of S&P Global as of June 15, 2026 and on the basis of a distribution ratio of one share of Mobility Global common stock for every share of S&P Global’s common stock. See Note 10 — Subsequent Events for further information on the Separation.
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