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SEC Filings

10-K
IHS MARKIT LTD. filed this Form 10-K on 01/18/2019
Entire Document
 

18.
Quarterly Results of Operations (Unaudited)

The following table summarizes certain quarterly results of operations (in millions):
 
Three Months Ended
 
February 28
 
May 31
 
August 31
 
November 30
2018
 
 
 
 
 
 
 
Revenue
$
932.1

 
$
1,008.3

 
$
1,001.0

 
$
1,067.8

Net income attributable to IHS Markit Ltd.
$
241.3

 
$
114.7

 
$
104.5

 
$
81.8

Earnings per share:
 
 
 
 
 
 
 
Basic
$
0.61

 
$
0.29

 
$
0.26

 
$
0.21

Diluted
$
0.59

 
$
0.28

 
$
0.26

 
$
0.20

 
 
 
 
 
 
 
 
2017
 
 
 
 
 
 
 
Revenue
$
844.2

 
$
906.1

 
$
904.7

 
$
944.7

Net income attributable to IHS Markit Ltd.
$
66.0

 
$
99.3

 
$
145.9

 
$
105.7

Earnings per share:
 
 
 
 
 
 
 
Basic
$
0.16

 
$
0.25

 
$
0.37

 
$
0.27

Diluted
$
0.16

 
$
0.24

 
$
0.35

 
$
0.26


Item 9.
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

None.

Item 9A. Controls and Procedures

Disclosure Controls and Procedures

Under the supervision and with the participation of our management, including the Chief Executive Officer and Chief Financial Officer, we have evaluated the effectiveness of our disclosure controls and procedures pursuant to Rules 13a-15(e) and 15d-15(e) under the Exchange Act, as of the end of the period covered by this Form 10-K. Based on that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act are effective to ensure that information required to be disclosed in the reports required to be filed or submitted under the Exchange Act is (i) recorded, processed, summarized, and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms, and (ii) accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure.

Management’s Report on Internal Control over Financial Reporting

Our Chief Executive Officer and our Chief Financial Officer are responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Exchange Act Rules 13a-15(f) and 15d-15(f). A company’s internal control over financial reporting is a process designed by, or under the supervision of, the company’s principal executive and principal financial officers, or persons performing similar functions, and effected by the company’s board of directors, management, and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles and includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (ii) provide reasonable assurance that transactions are recorded as necessary to permit the preparation of financial statements in accordance with U.S. GAAP, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation. In addition, projections of any evaluation of effectiveness to future periods are subject

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